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HomeMy WebLinkAbout94-06553 \)j 5 '"' <t r ~ 'a ~ E. . , .Qi 8 ~ I J I cY) t2 01 J 1 -- 7l.. t; y ~ {, S' )'3 CtvU I.A- . . ~.. . ---~_.__.- - . , . . .,,,. ',..."'.",....-,"""',,,,.,,... ",,, '.~T...... ''C .~,. ,_ ....... .~~.. _~ +__ _^_. ,. . . (J.teO. (JrtCllnwnll <t COII/pnlll/. I~C. (;~,."?t'r/ /~J(~/u ,c:v:,.t"(,."ld"l.J 71.4 q'/- t..b.'i _~ ~-r_ Ill." )0 c)J ,,(IJ' r~J. r ',' 'j' P,l rY' I .:> ~ I "1 C:. < I , ':1;" = t3 < -.I ,r HECHANICSBURG AREA SCHOOL DISTRICT , I.' '1'1 '. _,' ..~ .' I .... en >:.~ = -'"1. .., I' -< -< M u:> .c.. HECHANICSBURG, PENNSYLVANIA JUNE 30, 1994 ~ Page Number Independent auditors' report 1 Combined balance sheet - all fund types and account groups June 30, 1994 2 Combinad atatement of revenue and expenditures and changes in fund balances - All Governmental Fund Types . year ended June 30, 1994 3 Statement of revenue, expenditures and changes in fund balance - budget and actual . All Governmental Fund Types - year ended June 30, 1994 4 Statement of revenue, expenditures and changes in fund balance . All Proprietary Fund Types year ended Juna 30, 1994 5 Statament of cash flows - All Proprietary Fund Types . yaar ended June 30, 1994 6 Supplementary information 7 . 17 18 . 27 Notes to financial statements - June 30, 1994 Cl) GREENAWALT & COMPANY, P.C. C.ID"Ala 1lOOI", sa. IAIGI L LYOHI HOWAlD l, OlaNAWALT CDIDON a. HOINAH WlCHAIL ,. urel IOIOf tt. WHOUa.,a.. DIIOIlAH I. ItIUY R.A. aaUNAWALTC"""'"') A. A. UlDDfOU (UnUO) CIATlPlID PUILIC ACCOUNTANTI P,Q, 80. 6 400 WIDT MM< STRU" M.CHANICDSURO, F'l<NNSVLVANIA 170!5!5 171717ea..nel ,A:J. 17171 7e8 2731 llAHCH omCl: ..1WUTl'OMPUTnWT CAlUIl.I. PA .,.n (1lnU~'n rAX(JIJ)UIo.J1J INDEPENDENT AUDITORS' REPORT Board of School Directors Hechanicsburg Area School District Hechanicsburg, Pennsylvania We hove audited the accompanying general purpose financial statements of Hechanicsburg Area School District os of June 3D, 1994, and for the year then snded. These financial statements ore the responsibility of the District's mftnagement, Our responsibili ty is to express on opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. 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. In our opinion, the accompanying general purpose financial statements present fairly, in all material respects, the financial position of Mechanicsburg Area School District at June 30, 1994, the results of its operations and the cash flows of its Food Service Fund for the year then ended, in conformity with generally accepted accounting principles. Our audit for the year ended June 30, 1994 was conducted for the purpose of forming an opinion on the general purpose financial statements of Hechanicsburg Area School District taken 09 a whole. The supplementary information is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. Such information has been subjected to the same 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. /~,,,,^,-....Q,t~ C~ I ~ C, GREENAWALT & COMPANY, ;.~. t7 Hechanicsburg, Pennsylvania July 20, 1994 .1- IdEMBEU - AMERICAN lNST11Ulll OF CERTIFII!D FunUC ACCOtJllTANTS - FENNSYLVANIA lNST11Ulll OF CERTIFII!D PUDUC ACCOtJllTANTS o MECHANICS BURG AREA SCHOOL DISTRICT COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS JUNE 30, 1994 Q Governmentsl Fund 'rV08S Athletic Capital General Association Construction Reserve 0 Auets Cash $ 496,888 $ 271 $ 224 $ Investments, at cost 3,045,036 3,911,142 721,208 Due from other funds 73 ,487 Accounta receivable 176,900 23,551 3,194 G Delinquent taxes receivable (net of allowance for unco11ec tibles, $ 188,944) 241,800 Inventory Property, plant and equipment Amount to be provided for 0 long- term debt Total $ 4.034.111 $ 271 $ 3.934.917 $ 724.402 Liabilities Accrued salaries and . benefi ts $ 1,296,843 $ $ $ Accounts payable 270,548 24,571 Deferred revenue 195,216 Due to other funds Due to student organizations Bonda payable 0 Compensated absences 70.772 Total liabilities 1. 833.379 -0- 24.571 .0. Fund equity Invested in general fixed . asse ts Fund balances 2.200.732 271 3.910.346 724.402 Total fund equity 2..,200.732 271 3.910.346 724.402 Total $ 4,034.111 $ 271 $ 3.934.917 $ 724.402 . The accompanying notes are an integral pare of these financial statements. o - 2 - o Proprietary Fund Tvne Food Service Fiduciarv Fund Tvoes Trust and A2ency Activities Account CrOUDS General General Fixed Assets Lon2-Term Debt $ 51,501 $ $ 165,875 $ 46,572 $ 232 23,006 36,481 37,491 15,935,633 20.067.732 $ 148.479 $ -0- $ 212.447 $ 15.935.633 $ 20.067.964 $ 11,147 $ $ $ $ 1,290 31,204 73,487 212,447 12,179,791 17.017 7.888.173 134.145 -0- 212.447 -0- 20.067.964 15,935,633 14.334 -0- 14.334 -0- -0- 15.935.633 -0- 0 $ 148.479 $ -0- $ 212,447 $ 15.935.633 $ 20.067.964 o MECHANICS BURG AREA SCHOOL DISTRICT COMBINED STATEMENT OF REVENUE AND EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1994 Athletic Capital General Association Construction Reserve Revenue Local sources $ 15,239,551 $ 45,B27 $ 122,281 $ 17.899 State sources 5,843,491 Federal sources 184,800 Refund of prior years' expenditures 8,163 Other financing sources 4,398,055 Incoming transfers 80.111 47.000 4.192 Total revenue 21. 356 .116 92.827 4.524.528 17.899 Expenditures Instruction 13,260,155 Support services 6,177,058 Opsration of noninstructiona1 services 446,092 93,747 Facilities acquisition, construction and improvement services 1,052,877 4,760 Other financing uses 1,149,125 4,192 Transfers to other funds 196.986 Total expenditures 21. 229 .416 93.747 1.057.069 4,760 Excess (deficiency) of revenue over expenditures 126,700 (920) 3,467,459 13,139 Fund balance, July 1, 1993 2,074.032 1.191 442.887 711. 263 Fund balance, June 30, 1994 $ 2.200.732 $ 271 $ 3.910.346 $ 724.402 Tha accompanying notes are an integral part of these financial statements. . 3 - MECHANICSBURG AREA SCHOOL DISTRICT STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1994 o General Fund Variance 0 Favorable Actual Bud~et lUnfavorable\ Ravanue Local sources $ 15,239,551 $ 15,304,332 $ (64,781) State sources 5,843,491 5,839,412 4,079 C Federal sources 184,800 174,500 10,300 Refund of prior years' expenditures 8,163 -0- 8,163 Incoming transfers 80 . 111 55.000 25.111 Total revenue 21. 356 .116 21. 373.244 (17.128) Expenditures . Instruction 13,260,155 13,679,800 419,645 Support services 6,177,058 6,295,897 118,839 Operation of noninstructiona1 services 446,092 464,459 18,367 Other financing uses 1,149,125 1,150,415 1,290 . Transfers to other funds 196,986 197,000 14 Budgetary reserve -0- 40.000 40.000 Total expenditures 21.229.416 21. 827.571 598.155 Excess of revenue over (under) G expenditures 126,700 (454,327) 581,027 Fund balance, July 1, 1993 2.074.032 1. 677.354 396.678 Fund balance, June 30, 1994 $ 2.200.732 $ 1.223.027 $ 977.705 C>> . The accompanying notes are an integral part of these financial statements. . - 4 - 8 . Athletic Association Variance Favorable Actual Bud2et (Unfavorable) $ 45,827 $ 44,450 $ 1,377 47.000 30.600 16.400 92.827 75.050 17.777 93,747 75,050 (18,697) 93.747 75.050 (18,697) (920) -0- (920) 1. 191 -0- 1. 191 $ 271 $ -0- $ 271 MECI~NICS8URG AREA SCHOOL DISTRICT STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES YEAR ENDED JUNE 30, 1994 Net cash used in operating activities Food Service $ (368,677) 4,566 47,920 149,986 (23,006) (8,483) 10,885 1,228 (13,748) 11,074 17.017 (171. 238) 148,870 (1,500) 6.035 4.535 (17 ,833) 69.334 $ 51.501 Operating activities Operating loss Adjustments to reconcile net loss to net cash provided by operating activities Depreciation Donated commodities consumed Services contributed by Genersl Fund Decrease (increase) in Accounts receivable Inventory Increase (decrease) in Accrued salaries and benefits Accounts payable Due to other funds Deferred revenue Compensated absences Noncapital financing activities Subsidies Inveating activities Purchase of equipment Earnings on investments Net cash provided by investing activities Net decrease in cash and cash equivalents Cash and cash equivalents, beginning Cash and cash equivalants, ending The accompenying notes are an integral part of these financial statements. - 6 - MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 1994 1. Reporting entity The Hechanicsburg 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. The District, in defining its reporting entity, used the evaluation guidelines for inclusion contained in GASB Statement 14 which are summarized as follows: 1) Financial interdependency 2) Governing authority selection 3) Designation of management 4) Influence on operations 5) Accountability for fiscal matters 6) Scope of public service 7) Special financing relationship 2. Summary of aignificant 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, as applied by the District, are in conformity with generally accepted accounting principles. A summary of the more significant accounting policies is as follows: Fund accounting The accounts of the District are organized on the basis of fund types and acc04nt groups. Each fund type may consist of several different funds. Each fund is a separate entity accounted for by a separate set of self-balancing accounts which comprise its assets, lisbilities, fund balsnce, revenues and expenditures. The fund types and the account groups utilized by Mechanicsburg Area School District are as follows: Governmental Fund Tvnes - These are the funds through which most governmental functions are furnished, The funds included in this category are: General Fund - The General Fund is used to account for all financial resources except those required to be accounted for in another 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, 1994 will be used for capital improvements. - 7 - MECIIANICSBURC AREA SCIIOOI. DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 2. Summary of significant accounting policies (Cont'd.) Fund accounting (Cont'd.) 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. ProDrietary Fund TVDe - 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. Fiduciarv Fund TVDe (Trust and A2encv Fundsl - These funds are used to account for assets held by a governmental unit in a trustee capacity or as an agent for other funds: Activity Fund - Accounts for programs operated and sponsored by various clubs and organizations within the schools. Payroll Fund - The Payroll Fund accounts for salaries earned by District employees. It handles the disbursing of such amounta to the employees and to taxing and other agencies on their behalf, Account GrouDs - The account groups are used to account for the general fixed assets and general long-term debts of the District. Ceneral Fixed Assets - General Fixed Assets account for the District's investment in fixed assets. Depreciation is not computed on general fixed assets. General Long-Term Debt - General obligation bonds peyable in future years are recorded as District indebtedness. Interest on long-term debt is recorded when such interest is due. Accumulated compensated absences, other than those reflected in the General and Food Service Funds, are also accounted for in this group of accounts. - 8 - HECHANICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 2. Summary of significant accounting policies (Cont'd.) hccumulated sick and vacation leave Unused vacation leave is minimal. medical evidence may be required. the cost of substitute personnel. leave at the time of retirement. recorded in the General Long-Term Service Fund (See Note 11). Sick leave is granted as appropriate, and Provision is made annually in the budget for There is limited payment for accumulated sick The gross amount of uncompensated absences i. Debt group of accounts, General Fund and Food Food Service Fund The Food Service Fund is accounted for as an enterprise fund and uses the full accrual basis of accounting. Equipment is recorded in the Food Service Fund and is depreciated using the straight-line method. Donated commodities are inventoried at cost figures provided by the Federal government when received. Utilities, salaries, etc. paid by the General Fund for the benefit of the Food Service Fund amounting to $ 149,986 have been reflected on the respec'tive statements of revenue and expenditures for the year ended June 30, 1994, based on management's estimates. The District does not attempt to allocate all costa which benefit the Food Service Fund due to the difficultiea associated with the measurement of such benefits. Haterials and supplies General Fund materials and supplies are expensed as paid. Food Service Fund materials and supplies are expensed as used. Food Service Fund inventories ,at June 30 are reflected on the balance sheet at cost, first-in, first-out method. 3. Cash and temporary investments Cash on deposit in financial institutions at June 30, 1994 is categorized as follows: Carrying Bank Value Balance Insured $ 100,000 $ 100,000 Collateral held in District's name -0- .0- Collateral not held in District's name 614.699 780.282 $ 714.699 $ 880.282 - 10 - MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 6. Property, plant end equipment The schedule below presents estimated historical cost of property, plant and equipment. These amounts were obtained, in the most part, from a valuation report prepared by Marshall and Stevens, Incorporated as of June 30, 1993. An updated report will be prepared for the year ended June 30, 1995. Land Land improvements Buildings Equipment $ 400,963 195,899 8,620,855 6.717.'1l6 $ 15.935.633 7. Long-term debt A summary of changes in general long-term debt Zor the year ended June 30, 1994 is as follows: Bednning Additions PavmenU Ending General Obligation Bonds: Series of 1985 $ 575,000 $ -0- Series of 1992 8,088,917 -0- Series of 1993 -0- 4.515.000 $ 8,663.917 $ 4.515.000 $ 575,000 42/, ,126 -0- $ -0- 7,664,791 4.515.000 $ 999.126 $ 12.179.791 The Series of 1993 General Obligation Bonds are due semi-annually through September 1, 2009, and have an average coupon rate of 4.858\. The Series of 1992 General Obligation Bonds are due semi-annually through September 1, 2005, and have an average coupon rate of 6.23%. Maturities due in future years are as follows: ~ General Obligation Bonds 1994-95 1995-96 1996-97 1997-98 199B-99 1999-2010 $ 923,973 1,088,500 1,021,328 974,661 933,910 7.237.419 Totals $ 12.179.791 - 12 - MECI~ICSBURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 7. Long-term debt (Cont'd.) Future debt service requirements are as follows: :wu: 1994-95 1995-96 1996-97 1997-98 1998-99 1999-2010 $ 1,264,658 1,476,451 1,449,623 1,446,888 1,448,243 11.796.807 $ 18.882.670 Totals In January of 1992, the general obligation bonds, Series of 1992, were issued for the refunding of the principal amount of $ 6,055,000 remaining on the general obligation bonds, Series of 1980, 1987 and 1989 and certain building renovation.. Debt service for the new Series. which includes approximstely $ 1,500,000 of new capital funds, is $ 12,775,000. Remaining debt service on the defeased Series 1980, 1987 and 1989 was $ 8,956,248. The estimated economic gain from the defeassnce of the three Series was $ 53,483. In September of 1993, the general obligation bonds totaling $ 4,515,000 were issued for the purpose of funding certain capital improvements. The net proceeds of $ 4,398,055 is being accounted for in the Construction Fund of the District. 8. Contribution to Food Service Fund "Contribution to Food Service Fund" for the year ended June 30, 1994 include. the following estimated expenses charged to the Food Service Fund and paid through the General Fund: Custodian wages Hauling and cleaning Employee benefits Utilities and fuel Administrative salaries Social security subsidy $ 11,304 7,967 9,961 55,627 68,167 (J.040) $ 149.986 - 13 - HECHANICSBURC AREA SCIlOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 11. Compensated absences (Cont'd.) Hiatorically, significant uncompensated absences have been accrued at employee.' retirements and have been satisfied at a rate substantially lower than the calculation ref"rred to in arriving at the liability recorded on the balance sheet, While no percentages ere available to determine this difference, it i. anticipated that the ultimate liability of the District for these uncompensated ebsences will be materially less than $ 7.888,173, They are, of course. liquidated through Generel Fund expenditures in the year the absence is taken or the employee retires. Beginning in the current fiscal year, the District has also recorded liabilities for compensated absences in the General Fund and Food Service Fund as follows: General Fund Unpaid sick leave and early retirement bonuses are accrued for employees retiring prior to July 1, 1994. Food Service Fund Accru~d sick leave has been recorded for all Food Service Fund emplojees at June 30, 1994. 12. Contingent liabilities The District is contingently liable for outstanding lease rental debt of the Harrisburg Area Community College. The District's contract with its teaching staff expired June 30, 1994. A new contract has been aigned which will expire June 30, 1997. 13. Pension plan All Mechanicsburg Area School District full-time employees participate in The Public School Employees' Retirement System of Pennsylvania ("System"), a cost- sharing, multiple-employer public employee retirement system. All District full-time employees are eligible to participate J.n the System. Employees who retire at age 62, or age 60 with 30 years of aervice, or with 35 years of service regardless of age, are entitled to a retirement benefit, payable monthly for life, equal to 2\ of their final average salary times years of service. Benefita vest on reaching 10 years of service. The System also provide. for early retirement at age 55 and for death and disability benefits. Effective July 1992, health insurance premium assistance of $ 55 per month is provided for retirees receiving a disability benefit or credited with at least 24.5 years of service, - 15 - MECHANICSBURC AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 13. Pension plan (Cont'd.) Covered employees are required by State statute to contribute a percentage of their salary to the plan. This percentage is 5.25\ for employees hired on or before July 22, 1983, and 6.25\ for employees hired after that date, The District's and the Commonwealth's percentages are equal at 6.585\ for the year ended June 30, 1994. This decreases to 5.53\ as of Jul)' I, 1994, The District's contribution for the year was $ 799,340. The accrued retirement at June 30, 1994, based on the July and August payout of teachers' contracts, was calculated at the rate of 5.53\. The pension benefit obligation, which is the actuarial present value of credited projected benefits, is a standardized disclosure measure of the present value of pension benefits, adjusted for the effects of projected salary increases and any step-rate benefits, estimated to be payable in the future as a result of employe service to date. The measure is intended to help users assess the retirement system's funding status on a going-concern basis, assess progreaa made in accumulating sufficient assets to pay benefits when due, and make comparisons among public employe retirement systems and among employers. As of June 30, 1992, the most recent actuarial valuation date, PSER's total pension benefit obligation, as calculated in accordance with CASB Statement No.5, totalled $ 22.87 billion. Net assets available for benefits as of the same date totalled $ 19.59 billion, The unfunded pension obligation under CASB Statement No. 5 totalled $ 3.28 billion. Totel contributions to the System from all participating employers for the fiscal years ended June 30, 1992 and 1993 were $ 0.96 billion and $ 0.97 billion, respec ti ve ly. . Ten-year historical trend information showing the System's progress in accumulating sufficient assets to pay benefits when due is presented in the System's Comprehensive Annual Financial Report. 14. Other post-employment retirement benefits The District does not offer any post-employment benefits to retired employees other than pension benefits as discussed in Note 13. The District will, however, allow retired employees to remain in its group medical insurance plan upon payment by the retired employee of the cost of such coverage. In addition, an early retirement bonus of $ 10,000 is available to employees under certain conditions. This bonus can increase to $ 15,000 if the employee allows the funds to be retained by the District for payment of future medical insurance premiums. - 16 - o MECHANICS BURG AREA SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS (Cont'd.) JUNE 30, 1994 15. 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 employe..; and natural disasters, The District maintains commercial insurance coverage covering each of those riska of loss. Management believes such coversge 18 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. 16. Commitments At June 30, 1994, the District was committed to construction contracts totaling approximately $ 515,000, of which $ 175,000 had been paid to date. The balance will be paid from the Construction Fund. o - 17 - SUPPLEMENTARY INFORMATION . 18 - MECHANICS BURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUE YEAR ENDED JUNE 30, 1994 Variance Favorable Revenue Bud~et (Unfavorable) Taxes Current real e"tate taxas $ 9,731,170 $ 9,770,237 $ (39,067) Public utility realty tax 194,134 214,289 (20,155) Current per capita taxes 75,658 77 ,635 (1,977) Current Act 511 taxes 75,658 77,635 (1,977) Occupation privilege taxes 52,902 44,324 8,578 Current occupstion taxes 2,270,868 2,396,743 (125,875) Real estate transfer taxes 276,872 237,600 39,272 Earned income taxes 1,852,968 1,836,819 16,149 Delinquent taxea, all levies 367.578 250.000 117.578 14.897.808 14,905.282 0.474) State appropriations Basic instructionsl subsidy 3,950,187 3,950,187 -0. Homebound instruction 491 275 216 Vocational education 5,551 16,300 (10,749) Special education 917,879 930,000 (12,121) Transportation 199,661 160,000 39,661 Rentals and Sinking Fund payments 161,605 161,650 (45) Driver education 6,490 7,000 (510) Medical and dental services 7,775 5,500 2,275 Nursing services 67,977 66,500 1,477 Social security 481,696 500,000 (18,304) Extra grants 29,022 29,000 22 Tuition . court placed students 15.157 13.000 2.157 5.843.491 5.839.412 4.079 Federal appropriations Impacted areas 15,265 5,000 10,265 Disadvantaged children 137,966 136,000 1,966 Federal block grants, Chapter II 14,512 13,500 1,012 Drug free schools 5,831 20,000 (14,169) Science and math 11.226 -0- 11.226 184.800 174.500 10.300 (Continued) - 19 . MECHANICS BURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUE (Cont'd.) YEAR ENDED JUNE 30, 1994 Variance Favoreble Revenue Bud2et (Unfavorable) Other Tuition and other payments from patrons $ 14,305 $ 29,000 $ (14,695) Earnings from temporary deposits and investments 224,591 261,000 (36,409) Student activities 12,451 10,800 1,651 Rent from School and other facilities 12,739 12,050 689 Community services activities 76,195 85,000 (8,805) Miscellaneous revenue 1,462 1,200 262 Refund of prior years' expenditures 8,163 -0. 8,163 Transfers from other local education agencies 80.111 55.000 25.111 430.017 454.050 124.033) Total revenue $ 21.356.116 $ 21.373.244 $ (17.128) See accompanying report on supplementary information. - 20 - MECHANICS BURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES YEAR ENDED JUNE 30, 1994 EXDendltures Bud~et Variance Favorable (Unfavorable) Regular programs Personal services Personal services benafits Purchased professlonal and technical servlces Other purchased services Supplies Property Other objects salaries employee $ B,227,326 $ 8,296,520 $ 69,194 2,002,394 2,094,445 92,051 80,208 BO,265 57 37,542 37,613 71 367,954 397,197 29,243 40,131 40,227 96 26.682 26.759 77 10.782.237 10.973.026 190.789 871,875 871,903 28 237,729 237,792 63 576,604 633,231 56,627 46,470 121,300 74,830 7.988 13.983 5.995 1. 740.666 1. 878.209 137.543 211.740 230.000 18.260 143,946 193,315 49,369 34,195 48,178 13,983 2,160 2,200 40 19,956 20,052 96 -0. 1.500 1.500 200.257 265.245 64.988 4,405 5,000 595 635 745 110 5.040 5.745 705 (Contlnued) . 21 - . Special programs Personal services Personal services benefits Purchased professional and technical services Other purchased services Supplies salaries employee Vocational education programs Other purchased services Other instructional programs Personal services salaries Personal services - employee benefits Purchased professional and technical services Supplies Property Adult education programs Personal services salaries Personal aervices . employee benefi ts HECHANICSBURG AREA SCHOOL DISTRICT GENERAL F1JND STATEMENT OF EXPENDITURES (Cont'd.l YEAR ENDED JUNE 30, 1994 Exoenditures Budllet Variance Favorable (Unfavorable) Community College education programs Other purchased services $ 320.215 $ 327.575 $ 7.360 Support services . Pupil personnel Personal services salaries 572,069 572,OB9 20 Psrsonal services . employee benefits 134,750 147,422 12,672 Purchased professional and technical services 35,8B4 36,157 273 Other purchased services 2,178 2,255 77 Suppl1es 11,143 13 ,078 1,935 Other objects 670 728 58 756.694 771.729 15.035 Support services - instructional staff Personal services salaries 510,398 510,702 304 Personal services - employee benefits 135,200 135,341 141 Purchased professional and technical services 7,307 13,200 5,893 Other purchssed services 2,574 2,611 37 Suppl1es 62,852 62,868 16 Property 14,512 14,600 88 Other objects 22.494 22.742 248 755.337 762.064 6.727 Support services - administration Personal services sslaries 1,040,600 1,041,835 1,235 Personal services . employee benefits 255,324 276,587 21,263 Purchased professional and technical aervices 151,926 165,245 13,319 Purchased property services 23,511 23,515 4 Other purchased services 28,579 31,603 3,024 Suppl1es 21,093 22,775 1,682 Other objects 23.68/, 23.765 81 1. 544 . 717 1. 585.325 40.608 (Continued) . 22 - MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd.) YEAR ENDED JUNE 30, 1994 Exoenditures BudllSt Variance Favorable (Unfavorable) Support services . pupil health Personal services salaries Personal services . employee benefits Purchased professional snd technicsl services Other purchased services Supplies $ 207,344 $ 208,207 $ 863 52,298 53,129 831 2,160 2,250 90 580 784 204 5.871 5.961 90 268,253 270,331 2.078 150,524 151,050 526 39,252 40,538 1,286 17 ,976 18,612 636 6,766 6,801 . 35 21,568 26,244 4,676 8.007 10.850 2.843 244.093 254.095 10,002 Support services . business Personal services salaries Personal services . employee benefi ts Purchased professional and technical services Other purchased services Supplies Other objects Operation and maintenance of plant services Personal services - salaries Peraonal services . employee benefits Purchased property services Other purchased services Supplies Property Other objects 623,429 631,876 8,447 206,776 207,139 363 485,651 489,210 3,559 54,526 67,942 13,416 423,728 429,726 5,998 5,937 12,000 6,063 7.112 7.201 89 1. 807 .159 1. 845.094 37.935 (Continued) . 23 - MECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd,) YEAR ENDED JUNE 30, 1994 Varianca Favorable Exoenditures Bud~et !Unfavorable ) Student transportation services Personal services salariea $ 12,880 $ 12,972 $ 92 Personal services . employee benefits 2,977 3,003 26 Other purchased services 665,415 665,425 10 Supplies 34, 166 39,559 5,393 Property 254 750 496 715.692 721. 709 6.017 Central services Supplies 1. 299 1. 650 351 Other support services Other purchased services 83.814 83.900 86 Student activities Personal services salaries 178,650 179,273 623 Personal services employee benefits 27,617 31,400 3,783 Purchased professional and technical services 24,100 26,700 2,600 Other purchased services 17,452 17,471 19 Supplies 24,521 24,600 79 Property -0- 2,000 2,000 Other obj ects 17.180 17.250 70 289.520 298.694 9.174 Community services Personal services salaries 84,718 84,775 57 Personal services employee benefits 15,946 19,335 3,389 Purchased professional and technical services 43,016 43,109 93 Other purchased services 6,690 9,335 2,645 Supplies 930 3,611 2,681 Other objects 5.272 5.600 328 156.572 165.765 9.193 (Continued) - 24 . . HECHANICSBURG AREA SCHOOL DISTRICT GENERAL FUND STATEMENT OF EXPENDITURES (Cont'd.) YEAR ENDED JUNE 30, 1994 Varianco Favorable Exoenditures BudRet (Unfavorable) Debt service Interest $ 14B,849 $ 149,265 $ 416 Bond and note principal 999,126 1,000,000 874 Refund of prior year's receipts 1. 150 1. 150 -0. 1.149.125 1.150.415 1.290 Transfers to other funds 196.986 197.000 14 Budgetary Reserve -0. 40.000 - 40.000 Total expenditures $ 21.229.416 $ 21.827.571 $ 598.155 See accompanying report on supplementary information. o - 25 - MECHANICS BURG AREA SCHOOL DISTRICT CONSTRUCTION AND CAPITAL RESERVE FUNDS STATEMENT OF REVENUE AND EXPENDITURES YEAR ENDED JUNE 30, 1994 Seri..s Series Capital 1993 1992 Construction Reserve Revenue Investment income $ 114,580 $ 7,682 $ 19 $ 17,899 Net proceeds of Series 1993 Bond. 4,398,055 Transfers from refunded Bond Series 4,192 Total revenue 4.512.635 11.874 19 17 . 899 Expenditures Capital expenditures 697,459 345,140 6,710 4,745 Bank fees 2,443 825 300 . 15 Transfer to General Fund 4.192 Total expenditures 699.902 350.157 7.010 4.760 Excoss of revenue over (under) expenditures $ 3.812.733 $ (338.283) $ (6.991) $ 13.139 See accompanying report on supplementary information. o - 26 .