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CARLISLE AREA SCHOOL
DISTRICT
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ANNUAL
FINANCIAL
REPORT
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FOR THE YEAR ENDED JUNE 30, 2001
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CONTENTS
Page
~ LIST OF REPORT DISTRIBUTION
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TRANSMUTTALLETTER
2
INDEPENDENT AUDITOR'S REPORT ON THE GENERAL PURPOSE
FINANCIAL STATEMENTS
3 and 4
GENERAL PURPOSE FINANCIAL STATEMENTS:
Combined balance sheet - all fund types and account groups
Combined statement of revenues, expenditures and changes in fund
equity - all governmental fund types
Statement of revenues, expenditures, and changes in fund equity -
budget and actual - general fund
Combined statement of revenues, expenses and changes in retained
earnings (deficit) - proprietary fund type
Combined statement of cash flows - proprietary fund type
Notes to financial statements
5
6
7 and 8
9
10 and II
12 -21
ACCOMPANYING INFORMATION
Combining balance sheet - agency funds
Schedule of revenues - budget and actual - general fund
Schedule of expenditures and other financing uses - budget and actual - general fund
22
23 and 24
25 - 30
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Notes to schedule of expenditures of federal awards
31 - 33
34
REPORT ON COMPLIANCE AND INTERNAL CONTROL OVER FINANCIAL
REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
35
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH
MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN
ACCORDANCE WITH OMB CIRCULAR A-133
36 and 37
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
38
REPORT ON STATUS OF PRIOR YEAR'S COMPLIANCE FINDINGS AND
INTERNAL CONTROL WEAKNESSES
39
MANAGEMENT LETTER
40 and 41
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CARLISLE AREA SCHOOL DISTRICT
L~TOFREPORTD~TRmunON
June 30, 2001
I Report - Federal Audit Clearing House
Bureau of Census
1201 East 10th Street
Jeffersonville, Indiana 47132
3 Reports - Bureau of Audits
Bell Tower - 6th Floor
303 Walnut Street
Harrisburg, Pennsylvania 17101-1830
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Smith Elliott Kearns (!j Company_ LLC
Certified Public Accounlants ~ Consultants
Board of Directors
Carlisle Area School District
Carlisle, Pennsylvania
We have performed the Single Audit of Carlisle Area School District for the fiscal year ended
June 30, 200 I and have enclosed the Single Audit reporting package.
The Single Audit was done to fulfill the requirements ofOMB Circular A-133, It entailed: 1.
an audit of the general purpose financial statements and the schedule of expenditures of federal awards and our
opinion thereon; 2. a review of compliance with laws and regulations and internal control over financial
reporting based on an audit of the general purpose financial statements in accordance with "Government
Auditing Standards" issued by the GAO and a report thereon; and 3. a review of compliance with requirements
applicable to major programs and internal control over compliance and our opinion thereon,
We have issued a management letter as part of our report for the fiscal year ended
June 30, 2001.
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Carlisle, Pennsylvania
September 24, 200 I
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omith Elliott Kearns 1!5 Company, LLC
Certified Public Accountants (!j Consultants
INDEPENDENT AUDITOR'S REPORT
Board of Directors
Carlisle Area School District
Carlisle, Pennsylvania
We have audited the accompanying general purpose financial statements of the Carlisle Area
School District as of and for the year ended June 30,2001, as listed in the table of contents. These general
purpose financial statements are the responsibility of Carlisle Area School District's management. Our
responsibility is to express an opinion on these general purpose fmancial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America auditing standards and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
As discussed in Note 1 to the financial statements, general fixed assets consisting of property
and equipment are recorded predominantly at replacement cost as determined by an appraisal company. This is
not in accordance with generally accepted accounting principles, which specifY that these assets be recorded at
cost. In addition, the general purpose financial statements referred to above do not include the Intemal Service
Fund (Self Insurance Trust) described in Note 8, which should be included in order to conform with generally
accepted accounting principles. If the omitted fund had been included, based on unaudited infonnation, the
assets, liabilities, and net loss of the proprietary fund types would have increased by $ 553,973; $ 553,973; and
$ 328,852, respectively.
In our opinion, except for the effects of not recording general fixed assets at cost and the
omission of the Internal Service Fund, as discussed in the preceding paragraph, the general purpose financial
statements referred to above present fairly, in all material respects, the financial position of the Carlisle Area
School District as of June 30, 2001, and the results of its operations and the cash flows of its proprietary fund
types for the year then ended in conformity with accounting principles generally accepted in the United States of
America.
In accordance with Government Auditing Standards, we have also issued our report dated
September 24,2001 on our consideration of Carlisle Area School District's internal control over financial
reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That
report is an integral part of an audit performed in accordance with Government Auditing Standards and should
be read in conjunction with this report in considering the results of our audit.
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8milli Elliott Kearns {j:J Company, LLC
Certified Public Accountants (f1 Consultants
Board of Directors
Carlisle Area School District
Our audit was performed for the purpose of forming an opinion on the general purpose
financial statements of Carlisle Area School District taken as a whole. The accompanying schedule of
expenditures of federal awards is presented for purposes of additional analysis as required by U.S. Office of
Management and Budget Circular A-133, Audits of States, Local Governments, and NonProfit Organizations,
and is not a required part of the general purpose financial statements ofthe Carlisle School District. The
detailed schedules listed in the table of contents as accompanying information are also presented for purposes of
additional analysis and are not a required part of the general purpose financial statements. Such information has
been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in
our opinion, is fairly stated, in all material respects, in relation to the general purpose financial statements taken
as a whole.
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Carlisle, Pennsylvania
September 24, 200 I
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CARLISLE AREA SCHOOL DISTRICT m
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COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS ~
June 30, 2001 I
- - - - - - - - - - - - - - - GOVERi.~MENT AL FUND - - - - - _ _ _ _ _
TYPES
SPECIAL CAPITAL CAPITAL I
GENERAL REVENUE RESERVE PROJECTS
ASSETS FUND FUNDS FUND FUND I
Cash and cash equivalents $ 3,144,294 $ 250,686 $ 1,186,830 $ 126,604
Investments 1,900,000 0 8,454,879 26,809,880
Accrued Interest 106,563 0 145,871 1,931,061 I
Receivables: "
Taxes-(net of allowance for
uncollectible taxes of $1,770,292) 2,279,204 0 0 0 III!
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Due from other funds 390,134 0 900,000 0 <ii
Due from other governments
Federal 61,749 0 0 0 'l\!I
State 116,907 0 0 0 p,',%
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Other 291,858 28,365 0 0
Prepaid items 50,412 0 0 0
Inventory 0 0 0 0
Land and improvements 0 0 0 0
Buildings 0 0 0 0 Il!!!
Furniture and equipment 0 0 0 0 ",;,1
Amount to be provided for retirement I~
of general long-term debt 0 0 0 0
Amount to be provided for accumulated
compensated absences 0 0 0 0
Total assets $ /$,341,121 $ 2/,I.},Uo1 $ 1O,6/$'1,0/$U $ 2/$,/$6/',040
LIABILITIES AND FUND EQUITY '!!!I
Accounts payable $ $ $ $ ...,
611,580 19,442 11,198 1,269,805
Deferred Revenue 1,083,511 0 0 0
Due to other funds 900,000 0 0 0
Accrued salaries and benefits 1,245,657 0 0 0
Payroll taxes and withholdings 0 0 0 0 ~
Due to student groups 0 0 0 0 '-',
General obligation bonds and notes payable 0 0 0 0 ,~
Accumulated compensated absences 0 0 0 0
Total liabilities 3,840,748 19,442 11,198 1,269,805 11
FUND EQUITY lii
Investment in general fixed assets 0 0 0 0 II!!
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Retained earnings (deficit) 0 0 0 0 !','~"(
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Fund balances:
Reserved 390,134 259,609 6,836,574 27,597,740 I
Unreserved - Undesignated 4,110,239 0 3,839,808 0
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Total fund equity 4,500,373 259,609 10,676,382 27,597,740
Total liabilities and fund equity $ 8,341,121 $ 279,051 $ 10,687,580 $ 28,867,545 11
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The Notes to Financial Statements are an integral part of this statement. "
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PROPRIETARY FIDUCIARY - - - -ACCOUNT GROUPS- - - -
I FUND TYPE FUND TYPE
GENERAL GENERAL TOTALS
I FIXED LONG- TERi'1 (MEMORANDUM
CAFETERIA AGENCY ASSETS DEBT ONLY)
$ 19,176 $ 84,433 $ 0 $ 0 $ 4,812,023
I 0 0 0 0 37,164,759
0 0 0 0 2,183,495
I 0 0 0 0 2,279,204
0 0 0 0 1,290,134
I 4,352 0 0 0 66,101
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590 0 0 117,497
18,237 0 0 0 338,460
I 0 0 0 0 50,412
". 110,160 0 0 0 110,160
0 0 1,231,608 0 1,231,608
I 0 0 72,128,908 0 72,128,908
117,442 0 15,184,604 0 15,302,046
I 0 0 0 30,100,000 30,100,000
0 0 0 1,308,275 1,308,275
$ 26,:},'~b7 $ l:l4,433 $ l:ll:l,545,12U $ 31,4Ul:l,275 $ 16l:l,4l:l3,Ul:l2
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$ 2,119 $ 5,157 $ 0 $ 0 $ 1,919,301
0 0 0 0 1,083,511
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'"'_: 390,134 0 0 0 1,290,134
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0 0 0 0 1,245,657
f:"'; 0 200 0 0 200
0 79,076 0 0 79,076
II.; 0 0 0 30,1 00,000 30,100,000
f"l 0 0 0 1,308,275 1,308,275
392,253 84,433 0 31,408,275 37,026,154
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..- ( 122,296 ) 0 0 0 122,296 )
0 0 0 0 35,084,057
I 0 0 0 0 7,950,047
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( 122,296 ) 0 88,545,120 0 131,456,928
II $ 269,957 $ 84,433 $ 88,545,120 $ 31,408,275 $ 168,483,082
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I CARLISLE AREA SCHOOL DISTRICT
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I COMBINED STA TEMENT OF REVENUES, EXPENDITURES, AND
CHANGES IN FUND EQUITY - ALL GOVERNMENTAL FUND TYPES
Year Ended June 30, 2001
I TOTALS
SPECIAL CAPITAL CAPITAL (MEMORANDUM
GENERAL REVENUE RESERVE PROJECTS ONLY)
I REVENUES
Local sources
Taxes $ 23,332,971 $ 0 $ 0 $ 0 $ 23,332,971
I Investment earnings 652,372 16,982 572,748 2,394,242 3,636,344
Contributions 44,337 0 0 0 44,337
Other 305,189 152,278 11,000 0 468,467
State sources 14,179,276 0 0 0 14,179,276
I Federal sources 1,003,339 0 0 0 1,003,339
OTHER FINANCING SOURCES
m Transfers from other funds 0 0 1,674,763 0 1,674,763
:~} Proceeds from sale of bonds 0 0 0 9,865,586 9,865,586
Tuition from other LEA's 11,415 0 0 0 11,415
Refunds of prior years!
I expenditures 0 0 806 0 806
.. Total revenues and other
financing sources 39,528,899 169,260 2,259,317 12,259,828 54,217,304
I EXPENDITURES
Instruction 22,975,852 0 0 0 22,975,852
Support services 11,768,139 0 0 0 11,768,139
I Operation of noninstructional
services 697,758 115,744 0 0 813,502
Facilities acquisition, construction
and improvements 0 0 497,224 3,384,149 3,881,373
I Debt service
Principal 1,610,000 0 0 14,995,000 16,605,000
Interest 450,576 0 0 945,840 1,396,416
I Other 1,060 0 0 33,928 34,988
Bond issue costs 0 0 0 55,867 55,867
OTHER FINANCING USES
m Refund prior yearsl receipts 99 ) 0 0 0 99 )
-::'j Transfers to other funds 1,835,392 18,723 0 0 1,854,115
Total expenditures and
other financing uses 39,338,678 134,467 497,224 19,414,784 59,385,153
n Excess of revenues and other financing
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sources over (under) expenditures
II and other financing uses 190,221 34,793 1,762,093 7,15-\,956 5,1(i7,849 )
III Fund equity - July 1, 2000 4,310,152 224,816 8,914,289 34,752,696 48,201,953
Fund equity - June 30, 2001 $ 4,500,373 $ 259,609 $ 10,676,382 $ 27,597,740 $ 43,034,104
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, CARLISLE AREA SCHOOL DISTRICT
I STA TEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND
EQWTY-BUDGETANDACTUAL-GENERALFUND(CONTINUEDj
I Year Ended June 30, 2001
I VARIANCE
FAVORABLE
I BUDGET ACTUAL (UNFAVORABLE)
Operation of Noninstructional Services
I Student activities $ 671,186 $ 694,998 ($ 23,812 )
Community services 14,115 2,760 11,355
Total operation of noninstructional
I services 685,301 697,758 ( 12,457 )
I Debt service
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Principal 1,610,000 1,610,000 0
I Interest 450,579 450,576 3
Other 0 1,060 1,060 )
I Total debt service 2,060,579 2,061,636 ( 1,057 )
OTHER FINANCING USES
B Transfers to other funds 796,763 1,835,392 1,038,629 )
Refund of prior years' receipts 0 99 ) 99
Budgetary reserve 33,000 0 33,000
I
Total other financing uses 829,763 1,835,293 ( 1,005,530 )
I Total expenditures and other
financing uses 38,603,563 39,338,678 ( 735,115 )
m Revenues and other sources over
(under) expenditures and
I other uses ( 599,965 ) 190,221 ( 790,186 )
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Fund equity - July 1, 2000 3,733,000 4,310,152 577,152
m Fund equity - June 30, 2001 $ 3,133,035 $ 4,500,373 ($ -1,367,338 )
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CARLISLE AREA SCHOOL DISTRICT
STA TEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED
EARNINGS (DEFICIT) - PROPRIETARY FUND TYPE
Year Ended June 30, 2001
CAFETERIA
OPERATING REVENUE
Sales
Other
$
804,835
12,370
Total operating revenues
817,205
OPERATING EXPENSES
Food and milk purchases
Salaries
Employee benefits
Supplies
Delivery and storage
Depreciation
Repairs and maintenance
Miscellaneous
527,742
536,927
187,051
57,229
10,592
23,997
16,992
7,302
1,367,832
( 550,627 )
286,781
66,028
179,351
452
1,000
533,612
( 17,015 )
( 105,281 )
($ 122,296 )
Total operating expenses
Operating (loss)
NONOPERATING REVENUES
Federal subsidies
State subsidies
Transfer from other funds
Interest
Miscellaneous
Net (loss)
Retained earnings (deficit) - Beginning
Retained earnings (deficit) - Ending
The Notes to Financial Statements are an integral part of this statement.
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CARLISLE AREA SCHOOL DISTRICT
STA TEMENT OF CASH FLOWS-
PROPRIETARY FUND TYPE
Year Ended June 30, 2001
Cash flows from operating activities:
Cash received from food sales
Cash payments to suppliers for goods
Cash payments to employees
Cash payments for services
Net cash used by operating activities
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Purchase of equipment
Fundraising income
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Net cash used by capital financing activities
Cash flows from noncapital financing activities:
Federal and state subsidies
Transfers from other funds
Net cash provided by noncapital financing activities
Cash flows from investing activities:
Investment income
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Beginning cash - July 1, 2000
Ending cash - June 30, 2001
The following activity occurred with donated commodities:
Beginning inventory $
Commodities received
Commodities used (
Ending inventory $
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10,117
62,552
57,921 )
14,748
CAFETERIA
$ 805,838
( 564,492 )
( 641,678 )
( 92,113 )
( 492,445 )
(
34,195 )
1,000
33;J 95 )
348,178
179,351
527,529
452
2,341
16,835
$
19,176
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The Notes to Financial Statements are an integral part of this statement.
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CARLlSE AREA SCHOOL DISTRICT
STA TEMENT OF CASH FLOWS
PROPRIETARY FUND TYPE - CONTINUED
Year Ended June 30, 2001
Reconcilation of income from operations
to net cash probided by operating activities
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Cash l10ws from operating activities:
Operating (loss)
Adjustments to reconcile operating loss
to net cash used in operating activities
Depreciation
Changes in assets and liabilities
Inventories
Receivables
Accounts payable
Interfund payable
Total adjustments
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PROPRIETARY
FUND TYPE
(CAFETERIA)
($ 550,627 )
23,997
( 24,333 )
( n,365)
( 12,417 )
82,300
58,182
($ 492,445 )
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NOTES TO FINANCIAL STATEMENTS
Note 1. Summary of Significant Accounting Policies
The accounting policies of the School District conform to generally accepted accounting principles
applicable to governmental units. The following is a summary of the more significant policies:
Basis Of Presentation - Fund Accounting
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The accounts ofthe School District are organized on the basis of funds or account groups, each of
which is considered a separate accounting entity. The operations of each fund are accounted for
with a separate set of self balancing accounts that comprise its assets, liabilities, fund
balance/retained earnings, revenues, and expenditures/expenses. The various funds are
summarized by type in the financial statements. The following fund types and account groups are
used by the School District:
I
Governmental Fund Types
E
Governmental Funds are those through which most governmental functions of the School District
are financed. The acquisition, use and balances of the School District's expendable financial
resources and the related liabilities (except those accounted for in the proprietary funds) are
accounted for through governmental funds. The measurement focus is based upon determination
of changes in financial resources, rather than upon net income determination.
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General Fund - The General Fund is the general operating fund of the School District. This fund
is used to account for all financial transactions except those required to be accounted for in another
fund.
Special Revenue Fund - These funds are used to account for proceeds of specific revenues (other
than major capital projects) that are legally restricted to expenditures for specific purposes or used
to finance specific activities as required by administrative regulation.
Capital Reserve Fund - This fund was created under Article XI, Municipal Law Code Section
1431, for the purpose of funding capital improvements to facilities and purchase educational
equipment.
Capital Projects Fund - This fund is used to account for financial resources to be used for the
acquisition or construction of major capital facilities.
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Proprietary Fund Types
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Proprietary funds are used to account for the School District's ongoing activities which are similar
to those often found in the private sector.
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Cafeteria Fund - The Cafeteria Fund accounts for all revenues and expenses pertaining to the
cafeteria operations since such operations are financed and operated in a manner similar to a
private business enterprise. It is the intent of the governing body that the cost of providing such
goods or services to the students on a continuing basis be financed or recovered primarily through
user charges or federal/state governmental funding.
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, Note 1. Summary of Siguificant Accounting Policies (Continued)
I Fiduciary Fund Types
Fiduciary Funds are used to account for assets held by the School District in a trustee capacity or as
an agent for individuals, private organizations, other governmental units and/or other funds. These
funds are held by the School District, which acts in an agency capacity with respect to the payroll
withholdings and the Student Activity Funds, The funds are custodial in nature and do not involve
measurement of results of operations.
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Account Groups
General Fixed Assets Accoullt Group - This account group is used to record all property and
equipment of the School District, except that which is accounted for in the Cafeteria Fund.
General Fixed Assets consist of property and equipment and are recorded predominantly at
reproduction cost as determined from American Appraisal Associates report dated December 30,
1999 (last updated report). To be in accordance with generally accepted accounting principles,
general fixed assets should be recorded at cost. There were $ 4,538,269 of general fixed asset
additions and no significant deletions during the year.
General Long-Term Debt Account Group - This account group presents the balance oflong-term
debt which is backed by the full faith and credit of the School District. Principal and interest on
long-term debt is expensed on the date such debt service requirements are paid to the trustee.
Accumulated sick pay is also included in this account group.
Governmental And Fiduciary Fund Types
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All governmental and fiduciary funds are accounted for using the modified accrual basis of
accounting. Revenues are recorded as received in cash except for revenues susceptible to the
accrual and material revenues that are not received at normal times. Delinquent taxes receivable
are reported on the balance sheet, net of an allowance for uncollectible taxes.
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Expenditures are recorded on the accrual basis except for prepaid expenses, which are normally not
recorded, and except for principal and interest on long-term debt, which are expenditures when
due. Fixed assets and materials and supplies are charged to operations when purchased.
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Revenues from federal, state and other grants designated for payment of specific School District
expenditures are recognized when the related expenditures are incurred. Any excess of revenues or
expenditures at the fiscal year end is recorded as deferred revenue or a receivable, respectively.
Proprietary Fund Type
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The Proprietary Fund type, consisting of the Cafeteria Fund, utilizes the accrual basis of
accounting in which revenues are recognized in the accounting period in which they are earned;
expenseS are recognized at the time they are incurred. Proprietary funds apply Financial
Accounting Standards Board (F ASB) pronouncements and Accounting Principles Board (APB)
opinions, unless those pronouncements conflict with or contradict GASB pronouncements, in
which case, GASB prevails. Significant accounting policies for this fund include:
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>- Equipment utilized by the Cafeteria Fund is recorded as fixed assets of that Fund (at cost), and
is depreciated on a straight-line basis over an estimated useful life of 5 . 12 years.
>- Donated commodities received by the Cafeteria Fund are inventoried at cost figures provided by
the federal Government.
>- Food and supplies inventories are valued at cost on a first-in, first-out basis.
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Note 1. Summary of Significant Accounting Policies (Continued)
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The School District docs not attempt to allocate "building-wide costs" to the Cafeteria Fund. Thus,
General Fund expenditures, which partially benefit the Cafeteria Fund (utilities, janitorial services,
insurance, etc.), are not proportionately recognized within the Cafeteria Fund; similarly, the
Cafeteria Fund does not recognize a cost for the building space it occupies (no rental-of-facilities
expense).
Budgetary/Encumbrance Acconnting
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General governmental revenues and expenditures accounted for in the General Fund are controlled
by a formal budgetary accounting system in accordance with legal requirements which govern the
School District's operations. This budget is adopted on a basis consistent with generally accepted
accounting principles, and is modified during the year for budgetary transfers between accounts. It
also is increased for the addition of new programs. The budget figures presented in the financial
statements have been modified from the original adopted budget. Encumbrance accounting is
utilized during the year to provide budgetary control. Encumbrances outstanding lapse at year end
and must be reappropriated in the subsequent year's budget. Budgets are not required and have not
been prepared for any other funds.
Accumulated Sick and Vacation Leave
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Vacation leave only applies to twelve month employees; only five days of vacation leave is allowed to
be carried over at year end, but must be used by August 15 or is lost. Vacation leave earned in 2000-
01 is credited to the employees on July 1, 2001, and is expensed as paid. Sick leave is granted as
appropriate, and medical evidence may be required. Provision is made annually in the budget for the
cost of substitute personnel. There is limited payment for unused sick leave at the time of retirement,
the amount of which is reflected in the general long-term debt account group using the vesting method
under GASB Statement No. 16.
Retirement Plans
In November 1994, the GASB issued Statement No. 27, AccountingJor Pensions by State and Local
Governmental Employers (GASB Statement No. 27). GASB Statement No. 27 establishes standards
for the measurement, recognition, and display of pension expense and related liabilities, assets, and
note disclosures. See Note 6 for disclosures.
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Investments
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In March 1997, the GASB issued Statement No. 31, Accounting and Financial ReportingJor
Certain Investments andJor External Investment Pools (GASB Statement No. 31). The Statement
establishes fair value standards for certain investments held by governmental entities and external
investment pools. See investment information at Note 2.
Principles Used in Determining the Reporting Entity
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Governmental Accounting Standards require that the reporting entity include (I) the primary
government, (2) organizations for which the primary government is financially accountable and (3)
other organizations for which the nature and significance of their relationship with the primary
government are such that exclusion would cause the reporting entity's financial statements to be
misleading or incomplete.
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Note 1. Summary of Significant Accounting Policies (Continued)
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The Carlisle Area School District is the lowest level of government, which has oversight
responsibility and control over all activities related to public school education. The District receives
funding from local, state and federal government sources and must comply with the requirements of
these funding source entities. All operations of the School District are included in the reporting
entity. Based on the criteria provided in Government Accounting Standards Board (GASB) Statement
No. 14 the following organizations are considered to be affiliated with the Carlisle Area School
District.
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The School District is affiliated with Harrisburg Area Community College (HACC), along with
numerous other member school districts in a joint venture arrangement. The member school districts
participate in providing oversight responsibility to this entity through the following:
~ Appointing of Board members who are also Board members of the participating schools
~ Approval and funding of operating budget
~ Long-term agreement to provide funding for capital expenditures
The District has an ongoing financial responsibility to fund its proportionate share of the operating
budgets of this entity, but has no equity interest in it. Separate financial statements are prepared for
and available from HACC.
See additional infonnation regarding payments to the above affiliated organization at Note 7.
The District is also affiliated with the South Central Region School Employees Benefit Welfare Trust
(the Trust), a public entity risk pool which provides employees medical insurance. Since the District
appoints the Trustees of the Trust and since Carlisle Area School District is one of only two
participating members in the Trust at June 30, 2001, the Trust is deemed a component unit of the
School District under governmental accounting principles. See Note 8 for further infonnation.
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Cash And Cash Equivalents
For purposes of the statement of cash flows presented for the Proprietary Fund Type, the School
District considers time deposits and all highly-liquid debt instruments with original maturities of
three months or less to be cash equivalents.
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Total Columns On Combined Statements
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Total columns on the combined financial statements are not necessary for a fair presentation of the
financial statements in confonnity with generally accepted accounting principles. They are
presented to facilitate financial analysis. The aggregation ofthis data is not comparable to a
consolidation as interfund eliminations have not been made.
~
Note 2. Cash And Investments
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Deposits - At June 30, 2001, the carrying amount of the School's deposits (excluding petty cash)
was $ 4,811,509 and the bank balance was $ 4,515,245. The District's deposits are covered by
federal depository insurance ($ 100,000) or by pooled, pledged assets (not in the name of the
District) of the various depositories pursuant to Act 72.
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Note 2. Cash And Investments (Continued)
The School's investments are categorized as follows under GASB Statement No.3:
Fair
Category 1 Category 2 Category 3 Cost Value
FHLB Discount Note,
matures 7/21/01 $ 974,049 $ 0 $0 $ 974,049 $ 974,049
FHLMC Discount Note,
matures 8/1 6/0 1 907,981 0 0 907,981 909,497
FFCB Discount Note,
matures 9/1 8/0 I 1,282,441 0 0 1,282,441 1,282,907
FNMA Discount Note,
matures 9/28/01 2,160,457 0 0 2,160,457 2,166,735
U.S. Treasury Strip,
matures 11115/01 2,298,476 0 0 2,298,476 2,305,689
FHLMC Discount Note,
matures 11130/01 1,155,212 0 0 1,155,212 1,157,093
FNMA Treasury Note,
matures 12/] 7/0] ],380,251 0 0 ] ,380,25] 1,384,053
FHLMC Treasury Note,
matures 113/02 3,015,003 0 0 3,015,003 3,034,605
FFCB Discount Note,
matures 1125/02 1,155,060 0 0 1,155,060 ],]59,585
U.S. Treasury Strip
matures 2/15/02 2,530,505 0 0 2,530,505 2,550,430
FHLB Note,
matures 2/26/02 2,993,438 0 0 2,993,438 3,024,208
U.S. Treasury Strip,
matures 5/1 5/02 2,273,715 0 0 2,273,715 2,285,374
U.S. Treasury Strip
matures 5/1 5/02 3,755,431 0 0 3,755,43 ] 3,8] 8,588
U.S. Treasury Strip,
Matures 8/15/02 5,291,172 0 0 5,291,172 5,406, ]51
FNMA Note,
Matures 1115/03 2.997 .188 ~ ~ 2.997 .188 3.038,437
$ 34 170.379 $.J) $.Jl 34,] 70,379 34,497,711
PLGIT - Term certificates 2,600,000 2,600,000
Money market with broker 67 .048 67.048
$ 36.837 427 $ 37.164.759
All investments are held in safekeeping by outside agents and backed by the U.S. Government and
its agencies. Investinents are categorized as either (1) insured or registered, or for which the
securities are held by the government or its agent in the government's name, (2) uninsured and
unregistered for which the securities are held by the broker's or dealer's trust department or agent
in the government's name or (3) uninsured and unregistered for which the securities are held by the
broker or dealer, or by its trust department or agent but not in the government's name. Investments
in the Pennsylvania INVEST program and Pennsylvania Local Government Investment Trust
(PLGIT) are not categorized since they have the characteristics ofa mutual fund. At June 30,
200], the District had $ 3,343,348 in these programs and are recorded on the balance sheet as cash
and cash equivalents.
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Note 2.
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Note 3.
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Cash And Investments (Continued)
Section 440.1 of the Pennsylvania School Code authorizes the School District to invest in the
following:
>- U.S. Treasury Bills.
>- Short-term obligations of the U.S. Government and Federal agencies.
>- Insured savings and checking accounts and certificates of deposit in banks, savings and loan
associations and credit unions.
>- General obligations of the Federal Government, the Commonwealth of Pennsylvania
or any state agency, or of any Pennsylvania political subdivision as long as the obligations
are backed by the full faith and credit of the respective governmental entity.
>- Shares of investment companies whose investments are restricted to the above ,categories.
Taxes Receivable And Allowance For Uncollectible Taxes
Taxes receivable and allowance for uncollectible taxes consisted of the following at June 30, 200 I:
Real estate transfer
Earned income
Occupational privilege
Real estate
Occupational, resident and per capita
$ 72,208
826,993
23,710
766,195
2360.289
4,049,495
( L 770.292)
$ 2.279.203
Less: allowance for uncollectibles
Taxes receivable
Property taxes are levied on August I. Taxes are collected at a 2% discount if paid before
October I and at 10% penalty if paid after the due date of November 30. Taxes are recorded as
revenues by the School District when received from the tax collector, and proper accruals are
recorded at year-end.
The allowance for uncollectible taxes is based upon management's estimates of taxes that are not
expected to be collected. The taxes not received within 60 days of year-end are recorded as
deferred revenues.
Note 4. Cafeteria Fund
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Cafeteria Fund inventories consist of the following at June 30, 200 I:
Donated commodities
Supplies
Food
$ 14,748
79,179
16.233
$110 160
Cafeteria Fund fixed assets consist ofthe following at June 30, 2001:
Cost
Accumulated
Depreciation
Depreciated
Cost
Current Year
Depreciation
Equipment
$ 720,014
$ 602,572
$ 23,997
$ 117,442
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General Long-Term Debt
Changes In General Long-Term Debt
The following is a summary of long-tenn debt transactions of the Carlisle Area School District for
the year ended June 30, 200 I:
Balances
July 1, 2000
Retirements
Balances
June 30, 2001
Additions
General Obligation Bonds/Notes
Series of 1992 $
Series of 1993
Series of 1997
Series of 1998
Series of i 999
Series of 2000
Series of 200 I
Accumulated sick pay
Totals
695,000
1,035,000
5,000,000
9,995,000
9,990,000
9,995,000
9,995,000
i.259.56i
$ 37 969 561
$ 0
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o
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9,995,000
48.714
$10043714
$ 695,000
910,000
5,000,000
9,995,000
5,000
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$ 16 605.000
$ 0
125,000
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9,985,000
9,995,000
9,995,000
1.308.275
$ 31 408.275
Interest expense incurred for the year ended June 30, 2001 was $ 1,396,415.
Maturities of General Obligation Bonds and Notes
The following is a schedule by years and in the aggregate of minimum debt service requirements as
ofJune 30, 2001:
Year GO GO GO GO
Ending Bonds Bonds Notes Notes
June 30 Series of Series of Series of Series of Totals
1993 1999 2000 2001
2002 $ 127,688 $ 908,980 $ 439,780 $ 640,463 $ 2,116,911
2003 0 1,007,988 10,214,890 599,460 11,822,338
2004 0 1,003,825 0 60 I ,985 1,605,810
2005 0 1,003,481 0 599,285 1,602,766
2006 0 1,006,564 0 601,585 1,608,149
2007 and
after 0 8.05 i.907 0 16.047 .620 24.099.527
Total
minimum
payments $ 127.688 $ 12.982.745 $ 10654 670 $19090398 $ 42 855 501
Minimum debt service requirements include interest expense of$ 12,755,50i.
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Note 5. General Long-Term Debt (Continued)
A) General Obligation Bonds Payable
Series of 1993
On April 13, 1993, the School District issued General Obligation Bonds - Series of 1993, in
the aggregate principal amount of $ 5,385,000. The proceeds were used to redeem the
remaining balance of the Series of 1988 Bonds. The remaining proceeds, net of bond issuance
costs, were used to finance the 1993 Capital Project Plan, which was substantially completed
in the 1993-1994 fiscal year. Interest, at rates ranging from 2.25% to 4.30% per annum, is
payable semi-annually on March 1 and September I. Bonds in various principal amounts
mature through September I, 200 I.
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On January 1, 1999, the School District issued General Obligation Bonds - Series of 1999, in
the principal amount of $ 9,995,000. The proceeds will provide funds for various school
building additions and renovations. Principal installments ranging from $ 5,000 to $ 985,000
are due through March 1,2014, with interest rates varying from 3.10% to 4.45%.
Series of 2000
On January I, 2000, the School District issued General Obligation Bonds - Series of 1999, in
the principal amount of $ 9,995,000. The proceeds will provide funds for various school
building additions and renovations. Interest at 4.40% is payable semi-annually on May 15 and
November 15, with principal maturing November 15,2002.
Series of 2001
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On January I, 200 I, the School District issued General Obligation Bonds - Series of 200 I, in
the principal amount of $ 9,995,000. The proceeds will provide funds for various school
building additions and renovations. Interest at rates between 4.45% and 5.75% is payable
semi-annually on March I and September I, with principal maturing March I, 2021.
Note 6. Retirement Plan
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Plan Description. The School District contributes to the Public School Employees Retirement
System (PSERS), a cost-sharing multiple-employer defined benefit pension plan. PSERS provides
retirement and disability benefits, and legislative mandated ad hoc cost-of-living adjustments to plan
members and beneficiaries. It also provides healthcare insurance premium assistance to qualifYing
annuitants. Authority for the plan is provided by The Public School Employees' Retirement Code
(Act No. 96 of October 2, 1975, as amended) (24 Pa. C.S. 8101-8535). The system issues a publicly
available financial report that includes financial statements and required supplementary information
for the plan. That report may be obtained by writing to Wendy F. Hoover, Bureau of Fiscal Control,
Public School Employees' Retirement System, P. O. Box 125, Harrisburg, PA 17108-0125.
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Funding Policy. The contribution policy is set by the Public School Employees' Retirement Code
and requires contributions by active members, employers, and the Commonwealth of Pennsylvania.
For members who joined the System prior to July 22, 1983, their contribution rate is 5.25% of
compensation. The rate is 6.25% for members who joined on or after that date.
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Retirement Plan (Continued)
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The contributions required of employers and the Commonwealth are based upon an actuarial
valuation. In accordance with Act 29 of 1994, the Commonwealth of Pennsylvania must pay school
entities for contributions made to PSERS based on the formula provided in Act 29, but not less than
one-half of the school entities' contributions. For the year ended June 30, 2001, the School District
contributed at the rate of 1.94% of covered payroll. The 1.94% rate is composed ofa pension
contribution rate of 1.64% for pension benefits and .30% for health insurance premium assistance.
The contribution requirements and amounts actually contributed for the School District are as
follows:
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Actual Contribution
As a Percentage
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June 30, 2001
June 30, 2000
June 30,1999
$ 964,544
1,207,881
1,701,521
100%
100%
100%
For the year ended June 30, 2001, the Commonwealth of Pennsylvania reimbursed the School District
for approximately one-half of its retirement expense.
As explained in Note 1, the Carlisle Area School District is affiliated with the Harrisburg Area
Community College (HACC). Total payments to HACC during the year ended June 30, 2001 were
$ 370,459.
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Note 7. Affiliates
Note 8. Risk Management - Insurance
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The District's risk management activities are recorded in the general fund and are related to
administering employee life, health, and disability, property and liability, worker's compensation,
and unemployment insurance programs. The District's risk management activities do not
constitute a transfer of risk from the District. Settlement amounts have not exceeded insurance
coverage for the current year or three prior years.
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Significant losses are covered by commercial insurance for all major programs except workers'
compensation and health insurance.
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The District self insures a portion of their workers' compensation insurance through the School
District Insurance Consortium (sorC). The District is responsible for claims up to the amount
maintained in a self insurance reserve with sorc. The District also contributes to the sorc
"Central Fund", which pays claims for all participating districts that exceed the initial claims self
insured. There were no significant unpaid claims or estimated claims incurred but not reported at
June 30, 2001. Total payments to sorc in 2000/2001 were $ 60,594. The expenditures for the
District's risk management are recorded in the General and Cafeteria Funds for workers
compensation.
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Note 8. Risk Management - Insurance (Coutinued)
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On July 1, 1995 the District established the South Central Region School Employees Benefit and
Welfare Trust (the Trust), a public entity risk pool, to provide its employees medical insurance.
The member districts of the Trust elect trustees to manage it, but the risk is not shared among all
members. At June 30, 2001, there were two member districts in the Trust. The Trust purchases
insurance coverage for its members on a cost plus plan. Premiums charged in excess of claims
paid and administrative costs are deposited in a rate-stabilization fund for each member district.
Since each district is responsible for its own risk, additional assessments would be charged to make
up any deficiencies in this fund related to each district. Provisions are in effect to refund any
excess monies should a member withdraw or the Trust be dissolved.
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The activity for the Trust should be recorded as an Internal Service Fund on the District's financial
statements to be in conformity with generally accepted accounting principles. However, the
expenses for payments into the Trust are reflected in the General and Cafeteria Funds. Total
payments to the Trust were $ 3,243,248 during 2000/2001.
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Note 9. Reserved Fund Balance
A portion of the fund balance of the capital reserve fund has been reserved for specific projects
authorized by the Board of Directors. The reservation of fund balance in the general fund is for the
receivable from the cafeteria fund, which is uncertain due to the financial position of the cafeteria
fund.
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Note 10. Commitments
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At June 30, 2001 the District had approved $ 26,459,786 for capital projects, of which $ 4,451,210
had been expended by June. 30, 2001.
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CARLISLE AREA SCHOOL DISTRICT
COMBINING BALANCE SHEET-AGENCY FUNDS
Year Ended June 30, 2001
PAYROLL
STUDENT
ACTIVITIES
TOTAL
ASSETS
Ca5h
$ 200
$
84,233
$ 84,433
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Liabilities
Accounts payable $ 0 $ 5,157 $ 5,157
Payroll taxes and withholdings 200 0 200
Due to student groups 0 79,076 79,076
Total liabilities $ 200 $ 84,233 $ 84,433
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CARLISLE AREA SCHOOL DISTRICT
SCHEDULE OF REVENUES. 8UOGET AND ACTUAL
GENERAL FUND
Year Ended June 30, 2001
REVENUEFRO~ILOCALSOURCES
Revenue From Taxation
Real estate
Per capita
Resident
Earned Income
Real estate transfers
Occupation
Payments in lieu of taxes
Delinquent
Occupation privilege
Public utility tax
Tuition and other payments
from patrons
Earnings from investments
Rentals
Contributions from private sources
Athletics revenue
Miscellaneous revenue
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REVENUE FROM STATE SOURCES
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Basic instructional subsidy
Read to succeed
Homebound instruction
Special education
Transportation
Vocational education
Rentals and sinking fund payments
Driver ed ucation
Nurse services
Social security
Retirement
Tuition - Section 1305
Administrative consortium
Other state grants
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BUDGET
$ 15,832,585
$ 88,820
$ 89,000
$ 2,521,107
$ 350,000
$ 2,619,871
$ 14,563
665,000
105,000
85,902
80,000
596,500
30,000
25,000
30,000
20,000
23,153,348
9,242,967
68,829
1,000
1,951,276
645,590
146,933
578,599
10,000
97,131
828,889
210,202
20,000
o
47,200
$ 13,848,616
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ACTUAL
$ 16,137,531
89,182
90,071
2,707,612
383,452
2,803,437
16,395
903,272
120,012
82,007
110,193
652,372
14,312
44,337
43,129
137,555
24,334,869
9,261,674
96,432
884
2,146,343
639,361
137,692
583,795
7,700
91,788
813,437
201,892
18,369
15,000
164,909
$ 14,179,276
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VARIANCE
FAVORABLE
(UNFAVORABLE)
$ 304,946
362
1,071
186,505
33,452
183,566
1,832
238,272
15,012
3,895 )
30,193
55,872
15,688 )
19,337
13,129
117,555
1,181,521
(
(
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18,707
27,603
n6 )
195,067
6,229 )
9,241 )
5,196
2,300 )
5,343 )
15,452 )
8,310 )
1,631 )
15,000
117,709
$
330,660
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CARLISLE AREA SCHOOL DISTRICT
SCHEDULE OF REVENUES - BUDGET AND ACTUAL
GENERAL FUND (CONTINUED)
Year Ended June 30, 2001
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
REVENUE FROM FEDERAL SOURCES
Impact Aid $ 275,000 $ 277,028 $ 2,028
ESEA Title I 330,439 301,751 28,688 )
ESEA Title II 22,373 19,654 2,719 )
ESEA Title III 25,000 6,123 18,877 )
ESEA Title VI 28,487 28,587 100
Other federal grants 320,336 370,196 49,860
Total revenues from federal sources 1,001,635 1,003,339 1,704
OTHER FINANCING SOURCES
Tuition from other LEA's 0 11,415 11,415
Total revenues and other financing
sources $ 38,003,599 $ 39,528,899 $ 1,525;300
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I CARLISLE AREA SCHOOL DISTRICT
I SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -
BUDGETANDACTUAL-GENERALFUND(CONTINUEDj
Year Ended June 30, 2001
I VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
I EXPENDITURES
INSTRUCTIONAL - CONTINUED
I Other Instructional Programs
Salaries $ 837,896 $ 554,367 $ 283,529
Employee benefits 119,817 110,594 9,223
I Purchased services:
Professional and technical 99,060 127,267 28,207 )
" Property 0 2,616 2,616 )
E;j Other 148,240 95,084 53,156
"
Supplies 95,281 59,343 35,938
1/1I Property 2,708 20,060 17,352
~, Total other instructional programs 1,303,002 969,331 333,671
F'
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Adult Education Programs
III Salaries 88,531 55,383 33,148
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... Employee benefits 6,651 5,974 677
Purchased services:
I
-',.':1 Other 855 8,271 ( 7,416 )
,,_'I
Supplies 3,185 4,853 ( 1,668 )
I Property 0 7,350 ( 7,350 )
;1,- Total adult education programs 99,222 81,831 17,391
~ Community College Education Programs
.
".-j Other purchased services 380,000 370,459 9,541
~ Total instructional programs 23,521,027 22,975,852 545,175
SUPPORT SERVICES
~ Pupil Persounel
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Salaries 925,063 1,086,925 ( 161,862 )
~ Employee benefits 220,798 305,952 ( 85,154 )
II Purchased services:
Professional and technical 34,228 22,020 12,208
~ Other 300 1,397 ( 1,097 )
!~' ~ Supplies 12,400 13,515 ( 1,115 )
Other objects 15,175 14,200 975
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Total pupil personnel 1,207,964 1,444,009 236,045 )
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I SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES _
BUDGETANDACTUAL-GENERALFUND(CONnNUEDj
I Year Ended June 30, 2001
V ARlANCE
I FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
EXPENDITURES
I SUPPORT SERVICES - CONTINUED
Instructional Staff
Salaries $ 632,249 $ 859,011 ( $ 226,762 )
I Employee benefits 184,563 183,534 1,029
Purchased services:
Professional and technical 62,795 40,417 22,378
~ Property 20,232 4,767 15,465
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Other 121,538 108,184 13,354
rl Supplies 144,673 131,450 13,223
Ll Property 8,894 64,911 ( 56,017 )
Total other instructional
I programs 1,174,944 1,392,274 ( 217,330 )
,--,
Administration
I Salaries 2,180,616 1,774,457 406,159
Employee benefits 454,866 422,569 32,297
Purchased services:
I Professional and technical 217,945 165,753 52,192
'-f1 Property 130,810 186,030 55,220 )
Other 65,613 98,778 33,165 )
r Supplies 76,314 90,048 13,734 )
Ii.. Property 43,400 35,674 7,726
r Other objects 38,550 32,776 5,774
iW Total administration 3,208,114 2,806,085 402,029
Pupil Health
" Salaries 230,128 247,703 ( 17,575 )
Ii.; Employee benefits 67,417 66,948 469
Purchased services:
m Professional and technical 4,500 2,687 1,813
1')
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Property 0 30 ( 30 )
I!'l Other 500 179 321
1'" Supplies 9,700 5,202 4,498
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~ Total pupil health 313,245 322,749 9,504 )
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I CARLISLE AREA SCHOOL DISTRICT
I SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -
BUDGETANDACTUAL-GENERALFUND(CONnNUE~
I Year Ended June 30, 2001
VARIANCE
FAVORABLE
I BUDGET ACTUAL (UNFAVORABLE)
EXPENDITURES
I SUPPORT SERVICES - CONTINUED
Business
Salaries $ 269,106 $ 247,640 $ 21,466
. Employee benefits 58,109 69,137 ( 11,028 )
Purchased services:
Professional and technical 31,560 41,869 ( 10,309 )
m Property 107,150 60,607 46,543
,,'-;
Other 6,500 1,397 5,103
Supplies 14,000 9,873 4,127
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\-,\ Property 27,500 39,091 11,591 )
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Total business 513,925 469,614 44,311
I
r) Operation and Maintenance of
'-,;'
Plant Services
I Salaries 1,018,704 1,062,487 ( 43,783 )
Employee benefits 277,923 366,440 ( 88,517 )
Purchased services:
~ Property 921,000 829,297 91,703
Other 135,231 122,044 13,187
Supplies 926,550 1,019,024 92,474 )
~ Property 45,000 20,621 24,379
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''.i Total operation and maintenance
I'" plant services 3,324,408 3,419,913 ( 95,505 )
L Transportation Services
Purchased services:
~ Other 1,574,333 1,673,163 ( 98,830 )
'~ -: ~
Supplies 2,000 2,276 ( 276 )
~ Other objects 0 802 ( 802 )
Total transportation services 1,576,333 1,676,241 ( 99,908 )
~ Central
",1
Salaries 2,257 0 2,257
Employee benefits 70 0 70
~
li:,': Supplies 2,408 176 2,232
r Total central 4,735 176 4,559
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SCHEDULE OF EXPENDITURES AND OTHER FINANCING USES -
BUDGETANDACTUAL-GENERALFUND(CONnNUE~
Year Ended June 30, 2001
VARIANCE
FAVORABLE
BUDGET ACTUAL (UNFAVORABLE)
EXPENDITURES
DEBT SERVICE
Interest $ 450,579 $ 450,576 $ 3
Principal 1,610,000 1,610,000 0
CAIU debt service 0 1,060 ( 1,060 )
Total debt service 2,060,579 2,061,636 ( 1,057 )
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Transfers to other fund5 796,763 1,835,392 ( 1,038,629 )
Refund of prior years' receipts 0 99 ) 99
Budgetary reserve 33,000 0 33,000
Total other financing uses 829,763 1,835,293 ( 1,005,530 )
Total expenditures and other
financing uses $ 38,603,564 $ 39,338,678 ( $ 735,114 )
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NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Note 1. References to Schedule of Expenditures of Federal Awards
D - Direct funding
I - Indirect funding
S - State Share
B - Based on USDA valuation
Note 2. Determination of Major Programs
Project Title CFDA No. Expenditures Percent
ESEA Title I 84.010 $ 301,751 * 22.5%
National school lunch/breakfast
program cluster
Breakfast program 10.553 34,961
Lunch program 10.555 241,485
Special Milk Program 10.556 5,702
282,148 * 21.0%
Impact Aid 84.041 277,028 20.6%
IDEA 84.027 190,725 14.2%
Class size reduction 84.340A 83,274 6.2%
Donated commodities 10.550 57,921 4.3%
Vocational education 84.048 42,542 3.2%
Adult basic education 84.002 29,367 2.2%
Title VI 84.298 28,587 2.1%
Drug free schools 84.186 24,146 1.8%
Title II 84.281 19,655 1.5%
Title III 84.318 6,123 0.5%
GOALS 2000 84.276 140 0.0%
Total federal expenditures 1,343,407 100.0%
State expenditures 39,277
Total expenditures - Schedule of FF A $ 1,382,684
* Selected for testing as a "major program" under 25% rule for low risk auditees
Significant Accounting Policies
Basis of Accounting
The schedule of expenditures of federal awards is presented using the modified
accrual basis in accordance with accounting principles prescribed by the
Pennsylvania Deparbnent of Education, which conform to generally accepted
governmental accounting principles. Expenditures are recognized in the
accounting period in which the liability is incurred, if measurable. Revenues
designated for payment of specific School District expenditures are recognized
when the related expenditures are incurred. Any excess of revenues or
expenditures at the fiscal year end is recorded as deferred revenue or a
receivable, respectively.
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REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER
FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL
STA TEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
Board of Directors
Carlisle Area School District
Carlisle, Pennsylvania
We have audited the financial statements of Carlisle Area School District as of and for the year
ended June 30, 200 I, and have issued our report thereon dated September 24, 200 I. In our report, our opinion
was qualified because general fixed assets are reported at replacement value rather than historical cost, and the
financial statements do not include the internal service fund as described in Note 8 of the financial statements.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the School District's financial
statements are free of material misstatement, we performed tests of its compliance with certain provisions of
laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the
detemrination of financial statement amounts. However, providing an opinion on compliance with those
provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of
our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing
Standards.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered Carlisle Area School District's internal
control over financial reporting in order to determine our auditing procedures for the purpose of expressing our
opinion on the general purpose financial statements and not to provide assurance on the internal control over
financial reporting. Our consideration of the internal control over financial reporting would not necessarily
disclose all matters in the internal control over financial reporting that might be material weaknesses. A
material weakness is a condition in which the design or operation of one or more of the internal control
components does not reduce to a relatively low level the risk that misstatements in amounts that would be
material in relation to the general purpose financial statements being audited may occur and not be detected
within a timely period by employees in the normal course of performing their assigned functions. We noted no
matters involving the internal control over financial reporting and its operation that we consider to be material
weaknesses.
This report is intended solely for the information and use of the Board of Directors,
management and federal awarding agencies and pass-through entities and is not intended to be and should not be
used by anyone other than these specified parties.
~ ~ J:~ ~ ~~,LLc..
Carlisle, Pennsylvania
September 24, 200 I
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REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE
TO EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
Board of Directors
Carlisle Area School District
Carlisle, Pennsylvania
Compliance
We have audited the compliance of Carlisle Area School District with the types of compliance
requirements described in the u.s. Office of Management and Budget (OMB) Circular A-133 Compliance
Supplement that are applicable to each of its major federal programs for the year ended June 30, 2001. The
School District's major federal programs are identified in the summary of auditor's results section of the
accompanying schedule of findings and questioned costs. Compliance with the requirements of laws,
regulations, contracts and grants applicable to each of its major federal programs is the responsibility of the
School District's management. Our responsibility is to express an opinion on the School District's compliance
based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally
accepted in the United States of America; the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-I33, Audits of
States, Local Governments. and NonProfit Organizations. Those standards and OMB Circular A-I33 require
that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types
of compliance requirements referred to above that could have a direct and material effect on a major federal
program occurred. An audit includes examining, on a test basis, evidence about the School District's
compliance with those requirements and performing such other procedures as we considered necessary in the
circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not
provide a legal determination on the School District's compliance with those requirements.
In our opinion, Carlisle Area School District complied, in all material respects, with the
requirements referred to above that are applicable to each of its major federal programs for the year ended
June 30, 2001.
Internal Control Over Compliance
The management of Carlisle Area School District is responsible for establishing and
maintaining effective internal control over compliance with requirements of laws, regulations, contracts and
grants applicable to federal programs. In planning and performing our audit, we considered the School
District's internal control over compliance with requirements that could have a direct and material effect on a
major federal program in order to determine our auditing procedures for the purpose of expressing our opinion
on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-
133.
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Carlisle Area School District
Our consideration of the internal control over compliance would not necessarily disclose an
matters in the internal control that might be material weaknesses, A material weakness is a condition in which
the design or operation of one or more of the internal control components does not reduce to a relatively low
level the risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that
would be material in relation to a major federal program being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned functions. We noted no matters
involving the internal control over compliance and its operation that we consider to be material weaknesses.
This report is intended solely for the information and use of the Board of Directors,
management, and federal awarding agencies and pass-through entities and is not intended to be and should not
be used by anyone other than these specified parties.
~~I:~i~~LLC
Carlisle, Pennsylvania
September 24, 200 I
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SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year Ended June 30, 2001
A. Summary of Auditor's Results
I. The auditor's report expresses a qualified opinion on the general purpose financial statements of
Carlisle Area School District.
2. No reportable conditions relating to the audit of the financial statements are reported in the
"Report on Compliance and Internal Control over Financial Reporting Based on an Audit of
Financial Statements Performed in Accordance with Government Auditing Standards".
3. No instances of noncompliance material to the financial statements of Carlisle Area School District
were disclosed during the audit.
4. No reportable conditions relating to the audit of the major federal award programs is reported in
the "Report on Compliance with Requirements Applicable to Each Major Program and Internal
Control Over Compliance in Accordance with OMB Circular A-133".
5. The auditor's report on compliance for the major federal award programs for Carlisle Area School
District expresses an unqualified opinion.
6. There are no audit findings relative to the major federal award programs for Carlisle Area School
District, as reported in Part C of this Schedule.
7. The programs tested as major programs are:
ESEA Title I
National School Luncb/Breakfast
Program Cluster:
Breakfast
Lunch
Special milk
CFDA #84.010
CFDA #10.553
CFDA #10.555
CFDA #10.556
8. The threshold for distinguishing Types A and B programs was $ 300,000.
9. Carlisle Area School District was determined to be a low-risk auditee.
B. Findings - Financial Statements Audit
None
C. Findings and Questioned Cost - Major Federal Award Programs Audit
None
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REPORT ON STA TUS OF PRIOR YEAR'S COMPLIANCE
FINDINGS AND INTERNAL CONTROL WEAKNESSES
Year Ended June 30, 2001
Findings from June 30, 2000 report:
None
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September 24, 2001
Board of Directors
Carlisle Area School District
Carlisle, Pennsylvania
We have completed our audit of the general purpose financial statements of the Carlisle Area
School District for the year ended June 30, 200 I, and have issued our report thereon dated September 24,
2001.
We believe part of our responsibility, as your independent certified public accountants, is to
bring to your attention matters for your consideration which may impact the operations of the School District.
The following comments and suggestions cover such matters.
Cafeteria Inventory Software
During the audit it was noted that several reports could not be generated and/or printed from
the current inventory software package used by the Cafeteria. The problems have occurred due to the
software being outdated and no longer being serviced by the producer. We suggest that replacing this
software be a high priority, so that the inventory can be maintained accurately and in compliance with federal
guidelines.
Interfund Loan Payable
At June 30, 2001 the cafeteria fund owed the general fund $ 390,134 for benefits and payroll
that has not been paid on their behalf over the past several years. We suggest the board consider forgiving
the loan in total or develop a plans to do so over several years. The balance of this loan has been restricted in
the general funds fund balance, recognizing that the ability of the cafeteria fund to repay is limited.
New Accounting Pronouncements
In June 1999 the Governmental Accounting Standards Board (GASB) approved GASB No.
34, Basic Financial Statements - and Management's Discussion and Analysis -for State and Local
Governments. This 400 page document outlines the new reporting model, which will have a significant
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Carlisle Area School District
impact on local governments, including school districts. The effective date for the District to apply GASB 34
will be for the year ended June 30, 2003 (although early implementation is encouraged). There will be
significant work involved in the gathering and presentation of this information and we suggest that
preparation for these changes be started in the near future. See our letter dated September 9, 1999 for a
summary of these changes. We plan to work closely with management to make implementation of these
changes as efficient as possible.
This report is intended solely for the information and use of the Board of Directors and
management and is not intended to be and should not be used by anyone other than these specified parties.
We acknowledge and appreciate the courtesy and assistance extended to our representatives
by the School District's personnel during our audit. We will be pleased to further discuss these comments
and recommendations at your convenience.
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-41-
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