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M~CHANICSBURG A~EA SCHOOL DISTRICT
FINANCIAL STATEMENTS
YEAR ENDED JUNE 30, 2001
INDEX
Page
Number
Independent auditors' report
combined balance sheet - all fund types and account groups -
June 30, 2001
Combined statement of revenue, expenditures and changes
in fund balances - Ail Governmental Fund Types -
year ended June 30, 2001
combined statement of revenue, expenditures and changes in
fund balances - actual and budget - All Budgeted Governmental
Fund Types - year ended June 30, 2001
Statement of revenue, expenses and changes
in fund balance/retained earnings - All Proprietary and
Non-Expendable Trust Fund Types - year ended June 30, 2001
Statement of cash flows - Ail Proprietary and Non-Expendable
Trust Fund Types - year ended June 30, 2001
Notes to financial statements - June 30, 2001
Supplementary information
1 - 2
3
4
7 - 8
9 - 24
25 - 35
GREENAWALT & COMPANY, P.C.
400 WEST MA,~ STREET
MECHANICSBURG, PENNSYLVANIA 1705S
(717) 7~E-4753
FAX (717) 766-2731
I~.DENDENT AUDITORS' REPORT
Board of School Directors
Mechanicsburg Area School District
Mechanicsburg, Pennsylvania
We have audited the accompanying general-purpose financial statements of
Mechanicsburg Area School District as of June 30, 2001, and for the year then ended.
These general-purpose financial statements are the responsibility of the District's
management. Our responsibility is to express an opinion on these general-purpose
financial statements based on our audit.
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. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the general-purpose financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the general-purpose financial statements.
An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall general-purpose
financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, the general-purpose financial statements referred to above
present fairly, in all material respects, the financial position of Mechanicsburg
Area School District at June 30, 2001, the results of its operations, and the cash
flows of its proprietary fund types and trust funds for the year then ended in
conformity with accounting principles generally accepted in the United States of
America.
Our audit was conducted for the purpose of forming an opinion on the general-
purpose financial statements taken as a whole. The supplementary information is
presented for purposes of additional analysis and is not a required part of the
general-purpose financial statements of Mechanicsburg Area School District. 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 presented in
all material respects in relation to the general-purpose financial statements taken
as a whole.
- 1 -
MEMBERS - AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS -- PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
Board of School Directors
Mechanicsburg Area school District
Mechanicsburg, Pennsylvania
In accordance with Government Auditing Standards, we have also issued reports
dated August 29, 2001, on our consideration of Mechanicsburg 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.
'~REENAWALT'&'~O~P.C.
August 29, 2001
Mechanicsburg, Pennsylvania
- 2 -
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
JUNE 30, 2001
Assets and other debits
Cash and cash equivalents
Investments
Due from other funds
Accounts receivable
Delinquent taxes receivable
(net of allowance for
uncollectibles, $ 226,184)
Inventory
Land, buildings and equipment
(net of $ 129,561
accumulated depreciation)
Amount to be provided for
general long-term debt
Governmental Fund Types
General
Athletic Capital
Association Construction Reserve
496,595 $ 4,338 $ $
4,910,905 - 42,784,456 443,576
100,448 _
911,225 72,790
438,556
Total assets and
other debits
Liabilities
Payroll and benefits payable
Accounts payable
Deferred revenue
Due to other funds
Due to student and other
organizations
Bonds payable
Compensated absences
$ 6,857,729 $ 4,338 $42,857,246 $ 443,576
$ 1,698,008 $ $ $
760,766 311,977 13,115
283,770 _
45,547 17,771
39,440
Total liabilities
Fund equity and other credits
Invested in general fixed
assets
Fund balances/retained
earnings
Reserved
Unreserved
Total fund equity
and other credits
2,827,531 0 329,748 13,115
- 42,527,498 -
4,030,198 4,338 - 430,461
4,030,198 4,338 42,527,498 430,461
Total liabilities,
fund equity and
other credits $ 6,857,729 $ 4 338 $42,857,246 $
The accompanying notes are an integral part of these financial statements.
443.576
- 3 -
Proprietary
Fund Types Fiduciary Fund Types
Debt Food Trust and
Service Service Agency Activities
$ 6,633 $ 140,049
47 131,501 78,486
45,547 - 1,898
- 1,136
Account Groups
General General Long-
Fixed Assets Term Debt
$ 145,708 $
- $
20,327
125,165
23,952,056 -
- 60,316,361
$ 45,594 $ 284,762 $ 220,433 $ 145,708 $ 23,952,056 $ 60 316 361
$ - $ - $ $
16,238 - -
82,677 1,898 -
140,049 145,708
11,117
0 110,544 141,947
145,708
$
51,997,787
8,318,574
0 60,316,361
23,952,056
45,547 78,486
47 174,218 -
45,594 174,218 78,486
0 23,952,056 0
$ 45,594 $ 284,762 $ 220,433 $ 145 708 $ ~,952,056 $ 60,316,361
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINED STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 2001
Revenue
Local sources
State sources
Federal sources
Total revenue
Expenditures
Instruction
Support services
ODeration of noninstructional services
Facilities acquisition, construction
and improvement services
Total expenditures
Excess of revenue over (under)
expenditures
Other financing sources (uses)
Bond proceeds
Bond issuance costs
Sale of fixed assets
Debt service payments
Transfers from other funds
Governmental fund transfers
Food service transfers
Total other financing
sources (uses)
Excess of revenue and other financing
sources over (under) expenditures
and other financing uses
Fund balances, July 1, 2000
Fund balances, June 30, 2001
Athletic
General Association
$ 22,102,272
7,084,393
257,635
Construction
$ 100,777
$ 2,104,020
29,444,300 100,777 2,104,020
17,933,732
8,177,121
767,012
502,415
27,380,280
2,064,020
(2,283,970)
(118,056)
(2,402,026)
(338,006)
4,368,204
147,521
2,513,932
147,521 2,513,932
(46,74~) (409,912)
- 10,000,000
- (149,163)
45,000 (865,132)
45,000 8,985,705
(1,744) 8,575,793
6,082 33,951,705
$ 4 030 198 $ 4,338
$ 42,527,498
The accompanying notes are an integral part of these financial statements.
- 4 -
Capital
Reserve
36,210
Debt
Service
$ 2
36,210 2
425,870
425,870 0
(389,660) 2
(3,058,554)
3,104,101
0 45,547
(389,660)
820,121
45,549
45
$ 430,461 $ 45,594
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES - ACTUAL AND BUDGET
ALL BUDGETED GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 2001
Revenue
Local sources
State sources
Federal sources
Total revenue
Expenditures
Instruction
Support services
Operation of noninstructional services
Facilities acquisitions, construction
and improvement services
Total expenditures
Excess of revenue over (under)
expenditures
Other financinG sources (uses)
Bonds proceeds
Bond issuance costs
Sale of fixed assets
Debt service payments
Transfers from other funds
Governmental fund transfers
Food service transfers
Total other financing
sources (uses)
Excess of revenue and other financing
sources over (under) expenditures
and other financinG uses
Fund balances, July 1, 2000
Fund balances, June 30, 2001
General Fund
Variance
Favorable
Actual Budget (Unfavorable)
22,102,272 $ 21,822,145 $ 280,127
7,084,393 6,973,059 111,334
257,635 261,749 (4,114)
29,444,300 29,056,953 387,347
17,933,732 17,953,934 20,202
8,177,121 8,228,224 51,103
767,012 796,628 29,616
502,415 503,200 785
27,380,280 27,481,986 101,706
2,064,020 1,574,967 489,053
(2,283,970) (2,283,971) 1
(118,05~) (118,056)
(2,402,02~) (2,402,027) 1
(338,006) (827,060) 489,054
4,368,204 3,918,969 449,235
$ 4 030 198 $ 31091,909
$ 938 289
The accompanying notes are an integral part of these financial statements.
- 5 -
Athletic Association Fund
Actual Budget
100,777 $ 68,400
100,777 68,400
Variance
Favorable
(Unfavorable)
$ 32,377
32,377
147,521
113,400
34,121
147,521 113,400 34,121
(46,744) (45,000) (1,744)
45,000
45,000
(1,744)
6,082
4,338
45,000
45,000
0
0
o $
0
(1,744)
6,082
4,338
MECHANICSBURG AREA SCHOOL DISTRICT
STATEMENT OF REVENUE, EXPENSES AND
CHANGES IN FUND BALANCE/RETAINED EARNINGS
ALL PROPRIETARY AND NON-EXPENDABLE TRUST FUND TYPES
yEAR ENDED JUNE 30, 2001
Operating revenue
Sales
Net investment earnings
Miscellaneous revenue
Total operating revenue
Proprietary Fund
Food
Service
Fiduciary Fund
Trust
Funds
757,372
$
3,424
7,722
11,146
757,372
Operating expenses
Food and milk
Labor
Supplies and services
Repairs and maintenance
Employee benefits
utilities and fuel
Depreciation
Scholarship awards
Total operating expenses
Operating income (loss)
501,007
404,686
43,319
7,443
104,752
57,513
21,124
1,139,844
(382,472)
61
7,542
7,603
3,543
Nonoperating revenue
State sources Meal subsidies
Social security and retirement subsidies
Federal sources
Meal subsidies
Donated commodities
Interest earned
Total nonoperating revenue
Income (loss) before transfers
Services contributed by General Fund
Equipment purchases by Capital Reserve Fund
Scholarship transfers from Activity Fund
42,665
19,309
170,689
51,109
9,592
293,364
(89,108)
118,056
7,126
125,182
0
3,543
12,943
12,943
16,486
62,000
Net income
Fund balance/retained earnings, July 1, 2000
Fund balance/retained earnings, June 30, 2001
36,074
t38,144
$ 174,218 $
The accompanying notes are an integral part of these financial statements.
78,486
- 6 -
MECHANICSBURG AREA SCHOOL DISTRICT
STATEMENT OF CASH FLOWS
ALL PROPRIETARY AND NON-EXPENDABLE TRUST FUND TYPES
YEAR ENDED JUNE 30, 2001
~roprietary Fund
Food
Service
Fiduciary Fund
Non-Expendable
Trust
Cash flows from operating activities
Cash received from users
Net investment earnings
Cash paid to employees for services
Cash payments to suppliers for goods and services
Cash payments for operating expenses
Net cash provided by (used in) operating activities
Cash flows for non-capital financing activities
State sources
Federal sources
Transfer to expendable trust fund
Net cash provided by (used in) non-capital
financing activities
Cash flows from investing activities
Earnings on investments
Purchase of pooled investments
Proceeds from pooled investments
Net cash provided by (used in) investing
activities
Net decrease in cash and cash equivalents,
July 1, 2000
Cash and cash equivalents, July 1, 2000
Cash and cash equivalents, June 30, 2001
$ 758,596
(467,284)
(488,980)
(7.443)
(205,111)
59,500
170,689
230,189
9,592
(303,201)
171.700
~)
(96,831)
103,464
3,336
3.336
(3,401)
(3~401)
(3,336)
3,401
0
0
6,633 $ 0
- 7 -
MECHANICSBURG AREA SCHOOL DISTRICT
STATEMENT OF CASH FLOWS
ALL PROPRIETARY AND NON-EXPENDABLE TRUST FUND TYPES (Cont'd.)
YEAR ENDED JUNE 30, 2001
Reconciliation of operating loss to net cash
provided by (used in) operating activities
Operating income (loss)
Adjustments to reconcile operating income
to net cash used in operating activities
Depreciation
Donated commodities
Services contributed by General Fund
Decrease (increase) in assets
Accounts receivable
Inventories
Increase (decrease) in liabilities
Accounts payable
Deferred revenue
Due to other funds
Compensated absences
Total adjustments
Net cash provided by (used in)
operating activities
(loss)
Proprietary Fund Fiduciary Fund
Food Non-Expendable
Service Trust
$ (382,472) $ 3,336
21,124
51,109
120,530
(1,136)
(2,401)
512
2,360
(3,078)
(11,659)
177,361 0
$ (205,111) $ 3,336
The accompanying notes are an integral part of these financial statements.
- 8 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2001
1. Reporting entity
Mechanicsburg Area School District is the level of government which has
oversight responsibility and control over activities related to public school
education. The report includes services provided by the District to residents
within the boundaries of the Cumberland County municipalities of Upper Allen
Township, Shiremanstown and Mechanicsburg Boroughs. Services include a
comprehensive curriculum for primary and secondary education as well as
special education and vocational education programs. The District receives
revenue from local, state and federal sources and must comply with the
requirements of these funding sources.
Criteria established in Governmental Accounting Standards Board Statement
Number 14 were used in determining the entities to be included in the
reporting entity. These criteria include basic items such as financial
interdependency, selection of governing authority, designation of management,
ability to significantly influence operations, accountability for fiscal
matters, scope of public service and special financing relationships. Ail
operations of the District are included in the reporting entity.
There are no component units that meet the above criteria for inclusion in the
reporting entity. However, the District is a participant in three jointly-
governed operations, each of which is a separate legal entity that offers
educational services to the District and its residents. Each entity serves
many school districts, and are therefore, not included in the reporting
entity.
Capital Area Intermediate Unit provides special
services and programs.
cumberland-Perry Area Vocational-Technical School
vocational and technical education services and programs.
Harrisburg Area Community College
education services and programs.
provides community
education
provides
college
2. Summary of significant accounting policies
The accounts of Mechanicsburg Area School District are maintained on the basis
of accounting practices prescribed or permitted by the Manual of Accounting
and Related Financial Procedures for Pennsylvania School Systems, issued by
the Pennsylvania Department of Education in accordance with the provisions of
the School Laws of Pennsylvania. These practices are in conformity with
generally accepted accounting principles as applicable to governmental units.
A summary of the more significant accounting policies is as follows:
- 9 -
MECHkNICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
2. Summary of significant accounting policies (Cont'd.)
Fund accounting
The accounts of the District are organized on the basis of fund types and
account groups. Each fund type may consist of several different funds. Each
fund is a separate entity with self-balancing accounts which comprise its
assets, liabilities, fund balance/retained earnings, revenues and
expenditures/expenses, as appropriate.
The fund types and account groups utilized by Mechanicsburg Area School
District are as follows:
Governmental Fund Types
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 proprietary funds) are accounted for through
governmental funds. The measurement focus is upon determination of changes in
financial resources, rather than upon net income determination. The funds
included in this category are:
General Fund The General Fund is used to account for all
financial transactions not accounted for in another fund. Revenues
are primarily derived from local property, per capita and
occupation taxes, and State and Federal distributions. Many of the
more important activities of the School District, including
instruction, acLministration and certain noninstructional services,
are accounted for in this fund.
Construction Funds - The Construction Funds are used to account
for the proceeds of bond issues and their corresponding
expenditures. The fund balances at June 30, 2001 will be used for
capital improvements.
Capital Reserve Fund - The Capital Reserve Fund is used to account
for special capital projects.
Special Revenue Fund - Special Revenue Funds are used to account
for the proceeds of specific revenues that are restricted to
expenditures for specified purposes. The Athletic Association Fund
is a Special Revenue Fund.
Debt Service Fund - Debt Service Funds are used to account for the
accumulation of resources for, and the payment of, general long-
term debt principal, interest and related costs.
- 10 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
2. Summary of significant accounting policies (Cont'd.)
Fund accounting (Cont'd.)
Proprietary Fund Types
Proprietary Funds account for operations that are financed and operated in a
manner similar to private business enterprises:
Food Service Fund - The Food Service Fund is used to account for
the financial transactions associated with the operations of the
cafeterias.
Fiduciary Fund Types
Fiduciary Funds (Trust and Agency Funds) are used to account for assets held
by a governmental unit in a trustee capacity or as an agent for other funds or
entities. Expendable and Non-expendable Trusts are accounted for in
essentially the same manner as Proprietary Funds. Agency Funds are custodial
in nature and do not involve measurement of results of operations:
Trust Accounts Accounts for contributions to and interest
earnings on scholarship funds donated to the District, and for
payments of scholarship funds to selected students.
District Agency Fund Accounts for programs operated and
sponsored by non-school organizations. These funds are separated
from student activity funds.
Activity Fund - Accounts for programs operated and sponsored by
various clubs and organizations within the schools. Activity funds
are Agency Funds which are separately accounted for because of
legal requirements.
Account Groups
Account groups are not funds. They are only concerned with the measurement of
financial position and are not involved with the measurement of results of
operations.
General Fixed Assets - Accounts for the District's investment in
land, buildings, and equipment.
General Long-Term Debt Accounts for general obligation bonds
payable and accumulated compensated absences payable in future
years.
- 11 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
2. Summary of significant accounting policies (Cont'd.)
Basis of accounting
The accounting and financial reporting treatment applied by the different
funds is based on their measurement focus, which determines when revenues and
expenditures are recognized.
Governmental Fund Types
These funds are accounted for using the "current financial resources"
measurement focus, which is a modified accrual basis of accounting.
Revenues are recorded when susceptible to accrual (both measurable and
available). Available means collected within the current period or soon
enough thereafter to pay current liabilities.
Expenditures are generally recognized when the related fund liability is
incurred. Exceptions to this general rule include principal and interest on
general long-term debt which is recognized when due. Disbursements for
inventory type items and prepaid expenses are considered expenditures at
the time of purchase.
Proprietary Fund Types
The Food Service Fund uses the "flow of economic resources" measurement
focus, which is a full accrual method of accounting. This fund accounts for
operations using accounting pronouncements required for private business
enterprises, unless those pronouncements conflict with or contradict
governmental accounting pronouncements.
Donated commodities are inventoried at an estimated cost value when
received. Inventories (valued on the first-in, first-out method) are
recorded as an asset, and the portion represented by donated commodities is
recorded as deferred revenue.
Food service equipment is capitalized, with depreciation
straight-line method using an estimated useful life of
recorded as an operating expense.
(computed on the
5 to 12 years)
Compensated absences are recognized as operating expenses and the
cumulative amount is recorded as a liability within the Fund.
Fiduciary Fund Types (Trust and Agency Funds)
These funds use a modified accrual method. They are custodial in nature and
are not involved with the measurement of results of operations.
- 12 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
2. Summary of significant accounting policies (Cont'd.)
Basis of accounting (Cont'd.)
Account Groups
Land, buildings and equipment are presented at historical cost or estimated
historical cost where the original cost is unknown. Depreciation is not
computed on these assets.
Long-term debt is offset by an amount to be provided by future taxation or
other revenue sources. General obligation bonds payable in future years are
recorded as District debt. Interest on bonds is recognized when such
interest is due. Interest on Capital Appreciation Bonds is accreted
annually and added to the amount of bonds outstanding.
Compensated absences are presented using the vesting method. Unused
vacation leave is minimal. 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
accumulated sick leave at the time of retirement. The gross amount of
unused compensated absences is recorded in the General Long-Term Debt group
of accounts, General Fund and Food Service Fund.
Cash and cash equivalents
For purposes of the Food Service Fund and Nonexpendable Trust Fund statement
of cash flows, the District considers all deposits purchased with an original
maturity of three months or less to be cash or cash equivalents.
Budgets
The District adopts, prior to the beginning of each fiscal year, an annual
budget for the General Fund and Athletic Fund. A part of this budget process
is the adoption of local tax rates, subject to various legal restrictions. The
District approves subsequent budget revisions (primarily transfers between
expenditure categories), as necessary. Unused appropriations expire at the end
of the year.
Revenue - Local sources
Real estate, residence and occupation taxes are levied as of July 1 with a
legal, enforceable claim against the taxpayer and/or property. These taxes
are recognized as revenue when received during the fiscal year or soon enough
thereafter to be susceptible to accrual.
- 13 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont' d. )
JUNE 30, 2001
2. Summary of significant accounting policies (Cont'd.)
Revenue - Local sources (Cont'd.)
An allowance for uncollectibles is recorded for taxes levied for the current
fiscal year and estimated doubtful of collection within one year after the end
of the fiscal year.
Other tax revenues, including taxpayer-assessed revenues such as earned income
taxes, are recognized as revenue when received during the fiscal year or soon
enough thereafter to be susceptible to accrual.
Revenue - State sources
State subsidies due the District as current fiscal year entitlements are
recognized as revenue in the current fiscal year.
Revenue - Federal sources
Federal program funds applicable to expenditures in the current fiscal year
but expected to be received in the next fiscal year are recognized as revenue
in the current fiscal year.
Inter-fund transactions
Expenditures by the General Fund for the benefit of other funds are reflected
in the respective statements of revenue and expenditures/expenses, based on
management's estimates. The District does not attempt to allocate all costs
which benefit the other funds due to the difficulties associated with the
measurement of such benefits.
utilities, salaries, etc. paid by the General Fund for the benefit of the Food
Service Fund amounting to $ 118,056 have been reflected on the respective
statements of revenue and expenditures for the year ended June 30, 2001, based
on management's estimates.
Pension plan
Substantially all full-time and part-time employees of the District
participate in a cost-sharing multiple employer defined benefit pension plan.
The District recognizes expenditures or expenses equal to its contractually-
required contributions, subject to the modified accrual basis of accounting in
governmental funds.
- 14 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
3. Cash and cash equivalents
Cash and cash equivalents (other than $ 60 cash on hand) consists of checking,
savings and treasury management accounts deposited with financial
institutions. Cash and cash equivalents are categorized as follows:
Carrying Bank
Value Balance
Insured (FDIC)
Collateral held in District's name
Collateral not held in District's name
100,000 $ 100,000
693,263 1,386,588
$ 793,263 $ 1,486,588
4. Investments
Investments are categorized into these three categories of credit risk:
1. Insured or registered or securities held by the District or its agent in
the District's name.
2. Uninsured and unregistered, with securities held by the counterparty's
trust department or agent in the District's name.
3. Uninsured and unregistered, with securities held by the counterparty or
by its trust department or agent but not in the District's name.
The investments, whose market value approximates cost due to the short term
nature of the investments, are categorized as follows:
Category Carrying Fair
1 2 3 An%ount Value
U.S. Government
Agency Securities
Mutual Fund
- $
$ 5,940,627 $ 5,940,627 $ 6,073,068
47 47 47
5,940,674 6,073,115
42,408,297 42,405,550
$ 0 $~0 $ 5,940,674
Pooled investment accounts
Total investments
$48,348,971 $48 478 665
The types of authorized investments are limited by State regulations.
Investment policies followed during the year did not significantly alter the
categorization of investments shown above.
- 15 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
5. Delinquent taxes receivable
Delinquent taxes receivable at June 30, 2001 consist of the following:
Real
Estate
Delinquent taxes receivable held
by delinquent collectors $ 329,520
Less: allowance for uncollectibles 98,800
Net Delinquent taxes receivable
Personal Total
$ 335,220 $ 664,740
127,384 226,184
$ 230,720 $ 207 836 $__438,556
6. Accounts receivable
General Fund accounts receivable at June 30, 2001 consist of the following:
Subsidies
Due from other governmental units
Investment income
Other
$ 165,832
730,741
6,486
8,166
$ 911.225
7. Land, buildings and equipment
The schedule below presents estimated historical cost of land, buildings and
equipment. These amounts were obtained, in the most part, from a valuation
report prepared as of May, 2001 and updated by management to June 30, 2001. It
includes equipment held in the Food Service Fund.
July 1, 2000 Additions
Disposals June 30, 2001
Land $ 416,983 $ 189,000 $ $ 605,983
Land improvements 1,528,196 - 1,528,196
Buildings 12,787,273 140,350 12,927,623
Equipment 7,338,553 1,551,701 8,890,254
General fixed assets
$ 22,071,005 $ i 881 051 $~0
$ 23 952 056
Food Service Fund fixed assets
Furnishings and
equipment $ 247,600 $ 7,126 $ $ 254,726
Accumulated
depreciation (108,437) (21,124) (129,561)
Totals
$ 139 163 $~)$
0 $ 125,165
- 16 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
8. Bonds payable
A summary of changes in bonds payable for the year ended June 30, 2001 is as
follows:
General New
Obligation Interest Issuance
Bonds/Notes Beginning Accretion Proceeds Repayments Ending
Series of 1992,
General Obligation Bonds 6.23%,
Maturing 9/1/2005
Series Of 1998,
General Obligation Bonds 4.0%
to 4.6%, Maturing 2/15/2013
$ 5,087,019 $ 295,768 $
9,495,000
- $ 1,025,000 $ 4,357,787
40,000 9,455,000
Series A of 1998,
General Obligation Bonds 3.9%
to 4.3%, Maturing 9/1/2009
3,475,000 285,000 3,190,000
Series of 2000,
General Obligation Bonds 5.3%
to 5.5%, Maturing 8/15/2016
4,995,000
4,995,000
Series A of 2000,
General Obligation Note,
En~aus Bond Pool, Variable
Interest, not to Exceed (15.55%),
Maturing 9/3/2002
Series B of 2000,
General Obligation Note,
Fmcnaus Bond Pool,
Credit Facility (1)
15,000,000
15,000,000
Series C of 2000,
General Obligation Note 4.5%
variable, Maturing 10/1/2016
5,000,000
5,000,000
Series of 2001,
General Obligation Bonds
3.95% to 5.00%,
Maturing 8/15/2019
10,000,000 10,000,000
$43.052.01--9 $ 2__95.768 $~ $ 1.35__0.000 $51,997.787
(1) Series B of 2000, General Obligation Note, Emmaus Bond Pool Credit
Facility will not be used unless necessary to support the Series A of 2000,
General Obligation Note repayment. The amount of the credit facility is
$ 15,371,590. No withdrawals occurred during 2000-2001.
- 17 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
8. Bonds payable (Cont'd.)
The Series of 1992, General Obligation Bonds consist of Capital Appreciation
Bonds. Interest accreted through the March 1 payment date of each year on the
Capital Appreciation Bonds is added to the carrying value. The bonds are due
semi-annually through September 1, 2005.
The Series of 1998, General Obligation Bonds are due semi-annually through
February 15, 2013. The District is planning to use these proceeds to
construct a new middle school and renovate the current middle school and high
school.
The Series A of 1998, General Obligation Bonds are due semi-annually through
September 1, 2009. The proceeds of these bonds were used to refund the Series
of 1993 General Obligation Bonds.
The Series of 2000, General Obligation Bonds in the amount of $ 4,995,000 are
due semi-annually through August 15~ 2016. Proceeds of the issue are currently
being used to construct and equip a new middle school, and renovate existing
elementary and secondary school facilities.
Series A of 2000, General Obligation Note in the amount of $ 15,000,000 is
nonelectoral debt issued through Emmaus General Authority. The Note is due
September 3, 2002. No principal repayment is due until maturity. The District
also issued Series B of 2000, General Obligation Note in the amount
of $ 15,371,590 as a credit note made by Bayerische Hypo-und Vereins Bank, AG.
There were no draws outstanding under this credit facility at June 30, 2001.
The credit note will be utilized only in the event of default or inability to
reDay the principal of Series A of 2000, General Obligation Note. Proceeds of
Series A of 2000, General Obligation Note will provide funds toward planning
and construction of a new middle school, renovation and expansion of the high
school, capitalized interest and pay the remarketing costs of issuance.
Series C of 2000, General Obligation Note in the amount of $ 5,000,000 is
nonelectoral debt issued through the Emmaus General Authority's Variable Rate
Demand Bond program. The Note is due October, 2016. Proceeds will be used
toward planning and construction of a new middle school, capitalized interest
and pay issuance costs.
The Series of 2001, General Obligation Bonds are due semi-annually through
August 15, 2019. Proceeds of the issue are currently being used to renovate
the high school and pay costs of issuing the bonds.
- 18 -
MECHANICSBURG ARF~ SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
8. Bonds payable (Cont'd.)
Future maturities and debt service requirements are as follows:
Year Total Principal Interest
Series of
1992 Capital
Appreciation
Bonds (1)
2001-2002 $ 5,164,090 $ 320,000 $ 3,819,090 $ 1,025,000
2002-2003 18,290,531 15,330,000 1,935,531 1,025,000
2003-2004 2,877,897 345,000 1,507,897 1,025,000
2004-2005 2,878,702 360,000 1,493,702 1,025,000
2005-2006 2,883,830 430,000 1,478,830 975,000
2006-2019 42,786,272 30,855,000 11,931,272
Totals $ 74,881,322 $ 47,640,000 $ 22,166,322 $ 5,075,000
(1)Reflects final maturity value of Capital Appreciation Bonds.
9. Contribution to Food Service Fund
"Contribution to Food Service Fund" for the year ended June 30,
the following estimated expenses charged to the Food Service
through the General Fund:
2001 includes
Fund and paid
Custodian wages
Administrative salaries
Employee benefits
Supplies
Utilities and fuel
Social security subsidy
Retirement subsidy
13,579
38,028
5,284
5,570
58,069
(1,974)
(50O)
$ 118,056
In addition, equipment purchases totaling $ 7,126 were paid by the Capital
Reserve Fund.
10. Inter-fund transfers
The combined statement of revenue and expenditures for the year ended June 30,
2001 includes the following inter-fund transfers and contributions from the
General Fund to the following funds which are recorded in the General Fund as
budgetary expenditures:
Food Service Fund $ 118,056
Athletic Association 45,000
Debt Service Fund 2,238,970
$ 2,402,026
- 19 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
11. Compensated absences
The General LonG-Term Debt account Group includes $ 8,661,876 representing
the estimated Gross amount of compensated absences, primarily sick leave,
payable to all District employees if they were to use this accumulated leave
prior to retirement. It was calculated by multiplying each employee's
accumulated leave time by the current per diem rate. If an employee retires
with unused compensated absences, the payout policy is as follows:
EmerGency and personal
No payout.
Vacation (Administrative personnel)
Paid at current per diem rate.
Sickness
Paid at the per diem rate paid to a substitute teacher at time of
retirement, based on a formula involving a percentage of
accumulated sick days and years of service. The maximum is 50% of
accumulated sick days after 20 years of service for the year ended
June 30, 2001.
A sun%mary of changes in compensated absences for 2000/2001 is as follows:
July 1, 2000 Net Change June 30, 2001
Administrators and support staff $ 1,416,300
Teachers 7,245,576
$ (114,359) $ 1,301,941
(228,943) 7,016,633
$ 8,661~876 $ ~) $ 8,318,574
Food Service Fund
$ 22,776 $ ~) $ 11,117
12. Pension plan
The District contributes to The Public School Employees' Retirement System
(the System), a Governmental cost sharing multiple-employer defined benefit
pension plan. The plan is under the provisions of the PSERS Code (the Code),
as amended. The plan provides retirement and disability, legislative mandated
ad hoc cost-of-livinG adjustments, and healthcare insurance premium assistance
to qualifying annuitants. The System issues a comprehensive annual financial
report that includes financial statements and required supplementary
information for the plan. A copy of the report may be obtained by writing to
PSERS, P.O. Box 125, HarrisburG, PA 17108-0125.
The contribution policy is established by the Code and requires contributions
by active members and employers. Active members are required to contribute
5.25 percent of their qualifying compensation if they joined the plan before
July 22, 1983, and 6.25 percent if they joined on or after that date.
Contributions required of employers are based upon an actuarial valuation.
- 20 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
12. Pension plan (Cont'd.)
For the fiscal year ended June 30, 2001 the employer contribution rate was
1.94 percent of covered payroll, composed of 1.64 percent for pension benefits
and .30 percent for healthcare insurance premium assistance. The District's
contributions to PSERS for the years ending June 30, 2001, 2000, and
1999 were $ 315,013, $ 706,207, and $ 904,239, respectively. Those amounts are
equal to the required contribution for each year.
13. Post-employment benefits other than pension benefits
The District does not offer any post-employment benefits to retired employees
other than pension benefits as discussed in Note 12. The District will,
however, allow retired employees to remain in its group medical insurance plan
upon payment of the cost of such coverage by the retired employee.
14. Operating leases
The District is obligated under various equipment, vehicle and modular
classroom lease agreements at June 30, 2001. The following is a schedule of
future minimum rental payments required under the operating lease agreements.
Year Ending
June 30
2002 $ 99,437
2003 70,998
2004 15,198
2005 6,898
Total minimum payments required
$ 192,531
15. Tax collections
Property Tax
The District's property tax is levied each July 1 on the assessed value as of
that date as maintained by Cumberland County for all nonexempt real property
located in the School District. The assessed value of the roll upon which the
levy for the 2000-2001 year was based approximated $ 95,156,820. The tax
millage rate assessed for the year ended June 30, 2001 was 154 mills ($ 15.40
per $ 100 valuation).
Real estate taxes attach as an enforceable lien on property on July 1. The
taxes are collected by an elected tax collector. Taxes paid through August 31
are given a 2% discount. Taxes paid after October 31 are charged a 10%
penalty. Delinquent real estate taxes are collected by Cumberland County.
- 21 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
15. Tax collections (Cont'd.)
Occupation, per capita and residence taxes
Occupation taxes are assessed based on employment classifications determined
by Cumberland County. They are levied July t at a rate of 110% of assessed
classification value.
Per capita and residence taxes are levied as of July 1 at a flat rate of $ 5
each and are assessed based on tax rolls maintained by Cumberland County.
Occupation, per capita and residence taxes are collected by an elected tax
collector. Taxes paid through July 31 are given a 2% discount. Taxes paid
after October 31 are charged a 10% penalty. Delinquent occupation, per capita
and residence taxes ars collected by a Board appointed delinquent tax
collector.
16. Fund equity
Fund balance reservations
Reservations of fund balances of Governmental Funds are established to either
satisfy legal covenants that require a portion of the fund balance be
segregated or identify the portion of the fund balance that is not appropriate
for future expenditures. Specific reservations of fund balance accounts are
summarized below.
Reserve for construction
Bond proceeds and earnings on invested proceeds are reserved for funding the
various construction and renovation projects of the District and are not to be
used in the ordinary course of the District's operations.
Reserve for debt service
The Series C of 2000 General Obligation Note charges interest on the
outstanding balance at a variable rate. The amortization of payments under
this note include a rate stabilization component which allows the District
ease in budgeting and provides a funding cushion should rates rise. The amount
transferred as a rate stabilization payment is reserved for payment of
interest under terms of the note agreement and is not to be used to pay
principal or in the ordinary course of the District's operations until the
issue is repaid.
Reserve for scholarships
Amounts included in the District's expendable and non-expendable trust funds
are reserved to provide funding to scholarship payouts and are not to be used
in the ordinary course of the District's operations.
- 22 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30~ 2001
17. Budget amendments
During April and June, 2001, the School Board amended previously approved
budgeted revenues and expenditures to provide for the purchase of additional
instructional supplies and capital purchases as follows:
Revenues Expenditures
Budget as originally adopted,
net of budgetary reserve allocation
of $ 45,000 for expenditures
April, 2001 budget amendment
June, 2001 budget amendment
$ 28,991,315 $ 29,358,375
65,638 65,638
460,000
Budget as amended
$ 29,056.953 $ 29,884,013
18. Risk Management
The District is exposed to various risks of loss related to torts; theft of,
damage to, and destruction of assets; errors and omissions; injuries to
employees; and natural disasters. The District maintains commercial insurance
coverage covering each of those risks of loss. Management believes such
coverage is sufficient to preclude any significant uninsured losses to the
District. Settled claims have not exceeded this commercial coverage in any of
the past three fiscal years.
For State unemployment compensation laws, the District is self-insured, which
is a common practice for local governmental units. Any unemployment claims are
paid by the District on a quarterly basis as incurred. The District incurred
$ 520 in unemployment claims during 2000-2001. No claims were outstanding at
June 30, 2001.
19. Commitments and contingencies
The District's contract with its teaching staff expired June 30, 2001 and is
currently in negotiation.
In the normal course of business, the District is subject to legal disputes
and claims. The District does not anticipate any material losses from any
pending or threatened litigation.
In the normal course of preparing for the subsequent school year, the District
has awarded bids for various supplies, fuel contracts, etc. No major
commitments in excess of routine requirements have been made by the District.
The District is audited by the Commonwealth of Pennsylvania, Department of the
Auditor General. Findings, if any, from these audits could result in the
repayment of funds, or the receipt of additional funds.
- 23 -
MECHANICSBURG AREA SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS (Cont'd.)
JUNE 30, 2001
19. Commitments and contingencies (Cont'd.)
The District participates in numerous state and federal grant programs which
are governed by various rules and regulations of the grantor agencies. Costs
charged to the respective grant programs are subject to audit and review by
the grantor agencies; therefore, any findings or adjustments by the grantor
agencies could have an effect on the recorded grants receivable and/or
deferred grant revenues and on the related grant revenues and expenditures.
The District is contingently liable for outstanding lease rental debt of
cumberland-Perry Vocational-Technical School beginning in 2001-2002. The
District will provide two payments to the Vo-Tech totaling $ 236,870.
The District has undertaken several construction and renovation projects
during the year. Renovation of the High School and construction of the Middle
School were in process at June 30, 2001. Construction commitments under these
contracts at June 30, 2001 were as follows:
High School renovation
Middle School construction
$ 16,045,797
21,330,917
Total $ 37,376,714
The District has issued general obligation bonds to fund these projects as
more fully described in Note 8.
In addition, in connection with construction of the Middle School, the
District was required by the local municipality to obtain several letters-of-
credit to ensure completion of required roadwork and traffic signal
installation totaling $ 683,638.
20. New accounting pronouncements
During the year ended June 30, 2001, the District implemented Government
Accounting Standards Board (GASB) Statement No. 33, ~Accounting and Financial
Reporting for Nonexchange Transactions". The effect of GASB 33 had no impact
on revenue or fund balance of the District. However, assets and liabilities
were both increased for revenues meeting the definition of Nonexchange
transactions.
During the year beginning July 1, 2002, the District will be required to
implement GASB 34, ~Basic Financial Statements - and Management's Discussion
and Analysis - for State and Local Governments". The effect of GASB 34 will
significantly affect how the District presents its financial statements. The
District receives information from various sources, including the Pennsylvania
Department of Education, and expects to be ready to satisfactorily implement
this accounting standard.
- 24 -
SUPPLEMENTARY INFORMATION
MECHANICSBURG AREA SCHOOL DISTRICT
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES
YEAR ENDED JUNE 30, 2001
Revenue
Local sources
Current real estate taxes
Public utility realty tax
Current per capita taxes
Current Act 511 per capita taxes
Occupation privilege taxes
Current occupation taxes
Real estate transfer taxes
Earned income taxes
Delinquent taxes, all levies
Tuition and other payments from
patrons
Earnings from temporary deposits
and investments
Student activities
Rent frgm School and other facilities
Community services activities
Miscellaneous revenue
Total local sources
State sources
Basic instructional subsidy
Homebound instruction
Vocational education
School performance incentives
Special education
Transportation
Rentals and Sinking Fund payments
Driver education
Health services
Social security
Retirement
Read to succeed
Tuition - court placed students
Link to learn
Alternative education grant
Miscellaneous grants
Actual
Budget
Variance
Favorable
(Unfavorable)
$ 14,410,054 $ 14,409,287 $ 767
64,479 91,000 (26,521)
74,367 75,354 (987)
74,367 75,354 (987)
80,180 74,667 5,513
3,150,584 3,253,646 (103,062)
386,666 375,708 10,958
2,499,365 2,394,729 104,636
529,468 445,000 84,468
21,269,530
8,340
642,263
13,584
28,286
137,983
2,286
832,742
22,102,272
4,354,514
74
18,080
6,837
1,327,660
282,145
74,594
6,030
90,045
657,100
153,677
46,872
15,180
34,085
17,500
21,194,745
12,500
493,000
13,800
11,900
95,000
1,200
627,400
21,822,145
4,316,371
16,849
6,837
1,246,793
250,000
74,594
7,000
85,000
665,781
173,725
56,250
15,000
11,500
29,859
17,500
6,973,059
7,084,393
74,785
(4,160)
149,263
(216)
16,386
42,983
1,086
205,342
280,127
38,143
74
80,867
32,145
(970)
5,045
(8,681)
(20,048)
(9,378)
180
(11,500)
4,226
111,334
- 25 -
MECHANICSBURG AREA SCHOOL DISTRICT
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES (Cont'd.)
YEAR ENDED JUNE 30, 2001
Actual
Budget
Federal sources
MLK Service Initiative $ 3,500 $ $
IDEA Part B 95,898 95,898
Title I 89,028 89,028
Title II 12,256 10,007
Title VI 44,473 11,894
Drug free schools 12,480 14,643
Other grants - 40,279
257,635 261,749
Total revenue 29,444,300 29,056,953
Regular programs
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Other purchased services
Supplies
Property
Other objects
Special programs
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Purchased property services
Other purchased services
Supplies
Property
Other objects
10,570,811
2,247,670
99,950
62,646
524,644
38,534
56,474
13,600,729
1,902,155
495,420
811,417
5,140
96,154
31,471
9,762
10,337
3,361,856
219,586
Vocational education programs
Other purchased services
10,571,366
2,249,527
102,034
63,185
525,760
38,584
56,475
13,606,931
1,902,435
494,469
815,322
5,200
98,000
34,723
9,800
10,436
3,370,385
219,586
Variance
Favorable
(Unfavorable)
3,500
2,249
32,579
(2,163)
(40,279)
(4,114)
387,347
555
1,857
2,084
539
1,116
50
1
6,202
280
(951)
3,905
60
1,846
3,252
38
99
8,529
0
- 26 -
MECHANICSBURG AREA SCHOOL DISTRICT
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES (Cont'd.)
YEAR ENDED JUNE 30, 2001
Expenditures
Other instructional programs
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Purchased property services
Other purchased services
Supplies
Adult education programs
Personnel services - salaries
Personnel services - employee benefits
Community College education programs
Other purchased services
Total instruction
Support services - pupil personnel
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Other purchased services
Supplies
Other objects
Support services - instructional staff
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Purchased property services
Other purchased services
Supplies
Property
Other objects
Actual
Budget
$ 226,143 $ 229,568
54,316 54,333
1,980
7,003
14,597
84,198
388,237
0
363,324
17,933,732
684,526
135,445
39,712
3,560
28,405
572
892,220
782,858
173,332
10,499
5,523
2,714
189,371
376,895
53,197
1,594,389
2,160
7,042
15,000
84,253
392,356
1,000
130
1,130
363,546
17,953,934
684,594
136,387
43,384
3,620
28,487
6OO
897,072
785,019
173,364
21,436
5,700
2,750
189,375
379,200
53,197
1,610,041
Variance
Favorable
(Unfavorable)
$ 3,425
17
180
39
403
55
4,119
1,000
130
1,130
222
20,202
68
942
3,672
60
82
28
4,852
2,161
32
10,937
177
36
4
2,305
15,652
- 27 -
MECHANICSBURG AREA SCHOOL DISTRICT
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES (Cont'd.)
YEAR ENDED JUNE 30, 2001
Expenditures
Actual
Support services - administration
Personnel services - salaries $ 1,168,102 $
Personnel services - employee benefits 244,322
Purchased professional and
technical services 180,950
Purchased property services 17,081
Other purchased services 52,659
Supplies 38,708
Other objects 41,989
Support services - pupil health
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Other purchased services
Supplies
Other objects
Support services - business
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Other purchased services
Supplies
Other objects
Operation and maintenance of plant
services
Personnel services - salaries
Personnel services - employee benefits
Purchased property services
Other purchased services
Supplies
Property
Other objects
1,743,811
290,116
84,813
980
893
7,013
372
384,187
226,217
62,777
18,707
4,109
29,578
8,640
350,028
759,379
236,886
559,127
55,066
499,936
17,060
25,278
2,152,732
Budget
Variance
Favorable
(Unfavorable)
1,168,123 $ 21
244,364 42
181,204
22,200
52,745
38,787
42,020
1,749,443
293,123
84,931
1,150
925
7,046
4OO
387,575
226,251
62,925
19,093
5,166
29,593
8,670
351,698
761,571
236,968
565,309
55,783
503,388
17,100
25,400
2,165,519
254
5,119
86
79
31
5,632
3,007
118
170
32
33
28
3,388
34
148
386
1,057
15
30
1,670
2,192
82
6,182
717
3,452
40
122
12,787
- 28 -
MECHANICSBURG AREA SCHOOL DISTRICT
GENEP~AL FUND
STATEMENT OF REVENUE, EXPENDITURES
A/TD CHANGES IN FUND BALANCES (Cont'd.)
YEAR ENDED JUNE 30, 2001
Expenditures
Student transportation services
Personnel services - salaries
Personnel services - employee benefits
Other purchased services
Supplies
Property
Other objects
Central services
Supplies
Other support services
Other purchased services
Total support services
Student activities
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Other purchased services
Supplies
Property
Other objects
Community services
Personnel services - salaries
Personnel services - employee benefits
Purchased professional and
technical services
Other purchased services
Supplies
Other objects
Total operation of
noninstructional services
Actual
Budget
Variance
Favorable
(Unfavorable)
$ 21,559 $ 21,626 $ 67
3,515 3,549 34
884,226 888,145 3,919
50,582 50,600 18
- 550 550
3,426 3,600 174
963,308 968,070 4,762
5,650 8,000 2,350
90,796 90,806 10
8,177,121 8,228,224 51,103
356,604
44,247
10,300
20,045
30,109
11,915
39,810
513,030
91,859
23,121
121,961
7,895
1,125
8,021
356,606
47,406
10,300
20,113
30,982
12,000
39,900
517,307
112,112
23,169
122,000
10,000
2,400
9,640
279,321
796,628
253,982
767,012
2
3,159
68
873
85
90
4,277
20,253
48
39
2,105
1,275
1,619
25,339
29,616
-29 -
MECHANICSBURG AREA SCHOOL DISTRICT
GENERAL FUND
STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCES (Cont'd.)
YEAR ENDED JUNE 30, 2001
Expenditures
Facilities acquisitions, construction,
and improvement services
Purchased property services
Property
Total expenditures
Excess of revenue over expenditures
Other financing sources (uses)
Bond proceeds
Bond issuance costs
Sale of fixed assets
Debt service payments
Transfers from other funds
Governmental fund transfers
Food service transfers
Total other financing
sources (uses)
Excess of revenue and other financing
sources over (under) expenditures
and other financing uses
Actual
Budget
Variance
Favorable
(Unfavorable)
$ 41,400 $ 42,100 $ 700
461,015 461,100 85
502,415 503,200 785
27,380,280 27,481,986 101,706
2,064,020 . 1,574,967 489,053
(2,283,970)
(118,056)
(2,402,026)
(2,283,971)
(118,056)
(2,402,027)
(827,060)
(338,006)
489,054
Fund balances, July 1, 2000
Fund balances, June 30, 2001
4,368,204
$ 4,030,19__8
3,918,969
$
449,235
$ 938 289
See accompanying report on supplementary information.
- 30 -
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINING BALANCE SHEET
ALL CONSTRUCTION FUNDS
JUNE 30, 2001
Assets
Investments
Accounts receivable
Total assets
Liabilities and fund equity
Liabilities
Due to general fund
Accounts payable
Total liabilities
Fund equity
Reserved fund balances
Total liabilities and fund equity
GOB Series GOB Series GOB Series
1993 1998 2000
$ - $ 9,975,923
- 72,790
$ 0 $ 10 048 713
$ 3,797,430
$ 3,797.430
$ $ 15,392
- 226,763
0 0 242,155
0 10,048,713 3,555,275
$ ===~==~0 $ 1__0,048,71--3 $ 3,797,430
See accompanying report on supplementary information.
- 31 -
Variable GON
Series A
Of 2000
$ 5,152,895
$ 5,152,895
0
5,152,895
$ 5.152.895
Emmaus Bond
Pool, 2000
GOB Series
2001
$ 9,954,974
$ 9.954.974
Total
$ 42,784,456
72,790
$ 42,857,246
$ 13,903,234
$ 13,9~03.234
$ 2,379 $ - $ 17,771
85,214 - 311,977
87,593 0 329,748
13,815,641 9,954,974 42,527,498
$ 13 903 234 $ 9,954,974 $ 42,857,246
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHANGES IN FUND BALANCE -
ALL CONSTRUCTION FUNDS
YEAR ENDED JUNE 30, 2001
Revenue and other financing sources
Investments income
Bond proceeds
Total revenue and other
financing sources
Expenditures and other financing uses
Facilities acquisition, construction
and improvement services
Other financing uses
Total expenditures and other
financing uses
Excess of revenue and other financing
sources over (under) expenditures
and other financing uses
Fund balances, July 1, 2000
Fund balances, June 30, 2001
GOB Series GOB Series GOB Series
1993 1998 2000
$ 1,089 $ 584,325 $ 253,146
1,089 584,325 253,146
25,666 - 1,187,102
- 114,799
25,666 0 1,301,901
(24,577) 584,325 (1,048,755)
24,577 9,464,388 4,604,030
$ ~0 $ 10.048.71____~3 $ 3,555,27__~5
See accompanying report on supplementary information.
- 32 -
Variable GON
Series A Emmaus Bond
of 2000 Pool, 2000
GOB Series
2001 Total
$ 104,137 $ 2,104,020
10,000,000 10,000,000
$ 288,426 $ 872,897
288,426
- 1,301,164
74,351 675,982
74,351 1,977,146
214,075 (1,104,249)
4,938,820 14,919,890
$ 13,815,641
872,897 10,104,137 12,104,020
2,513,932
149,163 1,014,295
149,163 3,528,227
9,954,974 8,575,793
0 33,951,705
$ 5,152,895
$ 9 954 974
$ 42,527,498
MECHANICSBURG AREA SCHOOL DISTRICT
SPECIAL REVENUE FUND - ATHLETIC ASSOCIATION
STATEMENT OF REVENUE AND EXPENDITURES
YEAR ENDED JUNE 30, 2001
Revenue
Season tickets
Football gate
Jr. High gate
Basketball gate
Soccer gate
Volleyball gate
Wrestling gate
Program sales
Program ads
Lost equipment
Golf tournament
Concession stand
District playoff
General Fund
Miscellaneous
Total revenue
Expenditures
Football
Jr. High football
Girls' sports
Basketball
Wrestling
Swinu~ing
Baseball
Soccer
Track
Golf
Golf tournament
Cross country
Volleyball
Tennis
District III and state playoffs
Training supplies
Dues, subscriptions and meetings
Purchased services
Miscellaneous
utilities
Jr. High other sports
Concession stand
Travel and gas
Total expenditures
Excess revenue (under) expenditures
See accompanying report on supplementary information.
$ 11,255
32,069
797
14,905
4,044
3,593
4,602
1,151
4,731
1,427
5,900
4,074
7,608
45,000
4,621
145,777
19,876
10,189
22,164
5,889
4,385
4,953
8,982
7,912
4,974
2,878
4,576
2,582
4,082
1,589
9,215
5,380
6,615
1,268
1,326
310
17,380
142
854
147,521
- 33 -
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINING BALANCE SHEET
EXPENDABLE, NON-EXPENDABLE TRUST AND DISTRICT AGENCY FUNDS
JUNE 30, 2001
Cash and cash equivalents
Due from other funds
Total assets
Liabilities
Due to other funds
Due to other organizations
Total liabilities
Fund equity
Reserved fund balances
Total liabilities
a~d fund equity
Fiduciary Funds Total
Expendable Non-expendable Trust
Trust Trust Funds
$ 14,653 $ 63,833 $
1,898
$ - $ 1,898 $
0 1,898
i6,551 61,935
Agency Fund Total Trust
District And Agency
A~ency Fund Funds
78,486 $ 140,049 $ 218,535
1,898 1,898
~ $ ~ $ 220,43~
1,898 $ $ 1,898
140,049 140,049
1,898
78,486
140,049 141,947
78,486
See accompanying report on supplementary information.
- 34 -
MECHANICSBURG AREA SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCE - ALL TRUST FUNDS
YEAR ENDED JUNE 30, 2001
Revenue and other financing sources
Investment income
Miscellaneous revenue
Total operating revenue
Operating expenses
Supplies and services
Scholarship awards
Total operating expenses
Operating income
Scholarship transfers from Activity Fund
Transfers to (from) trust accounts
Net income (loss)
Reserved fund balance, July 1, 2000
Reserved fund balance, June 30, 2001
Expendable
$ 88
7,722
7.810
61
7, ~42
7,603
207
12,943
3,401
16,551
0
Non-expendable
Trust
$ 3,336
3.336
3,336
Total
$ 3,424
7.722
11.146
61
7,542
7.603
3,543
12,943
(7,401)
(65) 16,486
62.000 62.000
$ 61.955 $ 78.486
See accompanying report on supplementary information.
- 35 -