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SHIPPENSBURG AREA SCHOOL DISTRICT
YEAR ENDED JUNE 30, 1994
CONTENTS
Page
Independent audnors' report on Intemal control structure based on
an audn of general purpose financial statements In accordance
wnh Govemment Audnlna Standards (Including comment on prior
year recommendation)
1.2
Schedule of reportable condnlons
3
Independent audnors' report on the Intemal control structure used In
administering federal financial assistance programs
4-6
Independent audnors' report on supplementary schedule of federal financial assistance
7
Supplementary schedule of fedellll financial asslstar.ce
8.11
Notes to the supplementary schedule of federal financial assistance
12.13
Independent audnors' report on compliance wnh laws and regulations based on
an audn of general purpose financial statements performed In accordance wnh
Govemment Audnlna Standards
14-15
Independent audnors' report on compliance wnh genellll requirements
16-17
Independent audnors' report on compliance wnh specific requirements applicable
to nonmaJor federal financial assistance program transactions
18
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INDEPENDENT AUDITORS' REPORT ON
INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF
GENERAL PURPOSE FINANCIAL STATEMENTS IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
(Including comment on prior year recommendation)
Board of School Directors
Shlppensburg Area School District
Shlppensburg, Pennsylvania
We have audited the general purpose financial statements of Shlppensburg Area
School District, as of and for the year ended June 30, 1994, and have Issued our
report thereon dated September 1, 1994. Our opinion was qualnled because It Is the
policy of the District to value and report general fixed assets, other than land, at
replacement value rather than historical cost or estimated historical cost as required
by generally accepted accounting principles,
We conducted our audit In accordance with generally accepted auditing standards;
Govemment AudltlnCl Standards, Issued by the Comptroller General of the United
States; and Office of Management and Budget (OMB) Circular A-12B, 'Audits of State
and Local Govemments', Those standards and OMS Circular A-12B require that we
plan and perform the audit to obtain reasonable assurance about whether the general
purpose financial statements are free of material misstatement.
l In planning and performing our audit of the general purpose financial statements of
..J Shlppensburg Area School District for the year ended June 30, 1994, we considered
Its Intemal control structure 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 structure.
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The management of Shlppensburg Area School District Is responsible for establishing
and maintaining an Interne\l control structure, In funllllng this responsibility, estimates
and judgments by management are required to assess the expected benefits and
related costs of Intemal control structure policies and procedures. The objectives of
an Intemal control structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss from unauthorized use
or disposition, and that transactions are executed In accordance with management's
authorization and racorded properly to permit the preparation of general purpose
financial statements In accordance with generally accepted accounting principles.
Because of Inherent limitations in any Internal control structure, errors or Irregularltles
may nevertheless occur and not be detected,
1
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SCHULTZ
SNYDER
PLESIC
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Also, projection of any evaluation of the structure to future periods Is subject to the risk that procedures
may become Inadequate because of changes In conditions or that the effectiveness of the design and
operation of policies and procedures may deteriorate,
For the purpose of this report, we have classnled the slgnnlcant Internal control structure policies and
procedures In the following categories: billings (taxes), receivables, cash receipts, cash disbursements
and payroll.
For all of the Internal control structure categories listed above, we obtained an understanding of the
design of relevant policies and procedures and whether they have been placed In operation, and we
assessed control risk.
We noted a matter, described on the following page, Involving the Internal control structure and Its
operation that we consider to be a reportable condition under standards established by the American
Institute of Certnled Public Accountants, Reportable conditions Involve matters coming to our attention
relating to slgnnlcant deficiencies In the design or operation of the Internal control structure that, In our
judgement, could adversely affect the District's ability to record, process, summarize and report financial
data conslGtent with the assertions of management In the general purpose financial statements.
A material weakness Is a reportable condition In which the design or operation of one or more of the
Internal control structure elements does not reduce to a relatively low level the risk that errors or
Irregularities 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,
Our consideration of the Internal control structure would not necessarily disclose all matters In the Internal
control structure that might be reportable conditions and, accordingly, would not necessarily disclose all
reportable conditions that are also considered to be material weaknesses as defined above. However,
we believe the reportable condition Is a material weakness.
We also noted other matters Involving the Internal control structure and Its operation that we have reported
to the management of Shlppensburg Area School District In a separate letter dated September 1, 1994.
This report Is Intended for the Information of management and the Pennsylvania Department of Education.
However, this report Is a matter of public record and Its distribution Is not limited.
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September 1, 1994
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SCHEDULE OF REPORTABLE CONDITIONS
Material weakn..a In the Internal control Itructure
Cash recalpts:
During our audit, It came to our attention that the assistant business manager deposits cash receipts,
records transactions and reconciles the bank statement for the IIImed Income tax office, We
recommend that either another Individual In the tax office be trained to prepare the bank reconciliation.
or that the business manager review the preparation of the bank reconciliations. This will strengthen
controls over cash receipts.
3
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For all of the Intemal control stNcture categories listed above, we obtained an undenstandlng of the
design of relevant policies and procedures and determined whether they have been placed In operation,
and we assessed control risk.
During the year ended June 30,1994, Shlppensburg Area School District had no major federal financial
assistance programs and expended 73.7% of Its total federal financial assistance under the following
nonmajor federal financial assistance programs:
. ESEA, Chapter 1 . Low Income
. National School Lunch Program
We performed tests of controls, as required by OMB Circular A.12B, to evaluate the effectiveness of the
design and operation of Intemal control StNct;"rll policies and procedures that we considered relevant to
preventing or detecting material noncompliance with speclllc requirements, general requirements and
requirements governing claims for advances and reimbursements and amounts claimed or used for
matching that are applicable to the aforementioned nonmajor programs which are Identified In the
accompanying Schedule of Federal Financial Assistance. Our procedures were less In scope than would
be necessary to render an opinion on these Internal control stNcture policies and procedures.
Accorolngly, we do not express such an opinion,
Our consideration of the Internal control stNcture policies and procedures used In administering federal
financial assistance would not necessarily disclose all matters In the Internal control stNcture that might
constitute material weaknesses under standards established by the American Institute of Certllled Public
Accountants. A material weakness Is a reportable condition In which the design or operation of one or
more of the Intemal control stNcture elements does not reduce to a relatively low level the risk that
noncompliance with laws and regulations that would be material to a federal financial assistance program
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 stNcture and Its operations
that we consider to be material weaknesses as defined above.
However, we noted other matters Involving the Internal control stNcture and Its operation that we have
reported to the manftgement of Shlppensburg Area School District In a separate letter dated September
1, 1994,
This report Is Intended for the Information of management and the Pennsylvania Department of Education.
Howaver, this report Is a matter of public record and Its distribution Is not limited.
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September 1, 1994
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SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO THE SUPPLEMENTARY SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30, 1994
1. SUlM\llry 01 algntncant eccountlng policy:
The Supplementary Schedule of Federal Ananclal Assistance was prepared using the accrual basis 01
accounUng.
2. Organization and acope:
Th. audit of the general purpose financial stetemenls covered the enUre operations 01 the Shlppensburg
Area School District.
Total generallund revenues and other financing sources lor Shlppensburg Area School District for the year
ended June 30, 1994 were $17,107.878 and were received from the following sources:
Local
State
Federal
Other financing sources
$ 9,526,050
7,229,910
344,462
7.436
Total food aervlce lund operaUng revenues for the year ended June 30. 1994 were $475,434 and were all
received from local sources.
3. Program dlacloaur..:
Impact Aid - The objecUves of the School Assistance In Federally Allected Areas program (Impact
Aid/Disaster Aid) Is to provide financial assistance to local educaUonal agencies whose enrollments or
revenue availability are adversely allected by lederal activities. Shlppensburg Area School District receives
lunds for children residing on tax free lederal property or who reside with a parent employed on tax free
property owned by the federal govemment.
ESEA, Chapter 1 - Low Income - The objective of Chapter 1, Part A 01 the Elementary and Secondary
EducaUon Act Is to provide lundlng to local educaUonal agencies (LEAs) to meet the special needs 01
educaUonally deprived children In allendance areas with high concentrations 01 children from low-Income
families.
ESEA, Chapter 2 - The District received lunds under Subchapter B. These lunds were used to purchase
Instructional and educaUonal materials lor the reference secUons 01 the elementary. Junior and senior high
achoolllbrarles, Stall development activities were also supported.
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SHIPPENSBURQ AREA SCHOOL DISTRICT
NOTES TO THE SUPPLEMENTARY SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
(CONTINUED)
YEAR ENDED JUNE 30, 1994
3. Program dllclolur.. (continuld):
Conlumer and Home Economics - To provide lunds to assist consumer and homemaking approved
vocational education programs to Include competency based planned courses and outcome based
education. By the development 01 the outcomes, assessment methods and Innovative teaching methods,
thl local conlumer and homemaking educational program will be Improved.
Ellenhower Math and Science - To provide opportunllles for 'at risk' students to use discovery and
exploration to develop a more thorough understanding 01 mathemallcaland scientific concepts.
Drug-tree Schools. To provide ongoing support and training 01 the Dlstrlct'l student assistance program,
expand and update drug and alcohol education: and to continue staff development regarding drug and
alcohol related Issues.
National School Lunch Program- The obJecllve 01 the National School Lunch Program Is 10 assist states,
through calh grants and other means, In making lunch Ilvallable to school children 10 IIleguard the health
and Will-being of the nallon's children.
Special Milk Program - The object 01 the Special Milk Program Is to assist states through cash grants. In
making milk available to all Kindergarten students to saleguard the health and well-being of the nail on's
children,
Donated Commodllles . The obJecllve of the Food Dlstrlbullon Program Is to Improve the diets of school
children and to Increase the market lor domestically produced foods acquired under surplus removal or
price support operallons.
4. Donlted commodIU..:
The amounts In the accrued or (delerred) revenue column 01 the Donated Commodllles line represent
beginning and ending Inventory 01 Donated Commodllles and not accruals or deferrals.
6. Rlnklng of federal programl:
A1llederal programs are nonmaJor programs.
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INDEPENDENT AUDITORS' REPORT ON COMPUANCE
WITH SPECIFIC REQUIREMENTS APPUCABLE TO
NON MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS
Board of Directors
Shlppensburg Area School District
Shlppensburg, Pennsylvania
We have audited the financial statements of Shlppensburg Area School District as of
and for the year ended June 30, 1994, and have Issued our report thereon dated
September 1, 1994, Our opinion was qualified because It Is the policy of the District
to value and report general fixed assets, other than land, at replacement value rather
than historical cost or estimated historical cost as required by generelly accepted
accounting principles.
In connection with our audit of the general purpose financial statements of
Shlppensburg Area School District and with our consideration of Shlppensburg Area
School District's control structure used to administer federal financial assistance
programs, as required by Office of Management and Budget Circular A.128, 'Audlts
of State and Local Govemments,' we selected certain transactions applicable to certain
nonmeJor federal financial assistance programs for the year ended June 30, 1994, As
required by OMB Circular A.128, we have performed auditing procedures to test
compliance with the requirements govemlng types of services allowed or unallowed
and eligibility applicable to those transllctlons. Our procedures were substantially less
In scope than an audit, the objective of which Is the expression of an opinion on
Shlppensburg Area School District's compliance with these requirements. Accordingly,
we do not express such an opinion.
WIth respect to the Items tested, the results of those procedures disclosed no material
Ins1ances of noncompliance with the requirements listed In the preceding paragraph.
WIth respect to Items not tested, nothing came to our attenllon that caused us to
believe that Shlppensburg Area School District had not complied, In all material
respects, with those requirements,
This report Is Intended for the Information of management and the Pennsylvania
Department of Education, However, this report Is a matter of public record and Its
dls1ributlon Is not limited.
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September 1, 1994
18
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SHIPPENSBURG AREA SCHOOL DISTRICT
YEAR ENDED JUNE 30,1994
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Independent Audnors' ReDort
Board 01 School Directors
Shlppensburg Area School District
Shlppensburg, Pennsylvania
We have audned the accomFanylng general purpose financial statements 01
Shlppensburg Area School District as 01 June 30, 1994, and lor the year then ended
as listed In the preceding table 01 contents. These general purpose financial
lItatements are the responslbllny 01 the Shlppensburg Area School District
management. Our responslbllny Is to express an opinion on th..e general purpose
financial statements based on our audn.
We conducted our audn In accordance wnh generally accepted audnlng standards,
Govemment Audnlna Standards, Issued by the Comptroller General of the Unned
Stat..; and Office 01 Management and Budget (OMB) Circular A.128, 'Audns 01 State
and Local Govemments', Those standards and OMB Circular A.128 require that we
plan and perform the audn to obtain reasonable assurance about whether the general
purpose financial statements are free of material misstatement. An audn Includes
examining, on a test basis, evidence supporting the amounts and disclosures In the
general purpose financial statements, An audn also Includes assessing the accounting
principles used and slgnnlcant estlmat.. made by management, as well as evaluating
the overall general purpose financial statement presentation. We believe that Clur audn
provides a reasonable basis lor our opinion.
As described In Note 1 to the financial statements, tl Is the policy 01 the District to
value and report general fixed assets, other than land, at replacement value rather than
historical cost or estimated historical cost as required by generally accepted
accounting principles. The effect olthls departure from generally accepted accounting
principles Is presently not determinable,
In our opinion, except for the effects on the combined Ilnanclal statements 01 not
valuing general fixed assets, other than land, at historical cost or estimated historical
coat as explained In the preceding paragraph, the general purpose financial statements
relerred to above present fairly, In all material respects, the financial posnlon 01
Shlppensburg Area School District as 01 June 30, 1994, and the resuns 01 ns
operations and cash flows 01 ns proprietary and non-expendable trust fund types for
the year then ended In conformny wnh generally accepted accounting principles.
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SHIPPENSBURG AREA SCHOOL DISTRICT
COMBINED STATEMENT OF REVENUES. EXPENDITURES AND
CHANGES IN FUND BALANCE - ALL GOVERNMENTAL FUND TYPES
YEAR ENDED JUNE 30, 1994
Special Totals 0
General revenue (memorandum
fund Amels onlvl 0
RevenuII and other nnanclng sources:
Revenues: C
Local lources $ 9,526,051 $ 31,616 $ 9,557.867
State lources 7.229,909 7,229,909
Federal lources 344,482 344,482 C
Other nnanclng sources:
Interlund transfers 97,144 97,144
Refunds of prior years' expenditures 3,863 3,863 ~
Sale of nxed assets 3.573 3,573
Total revenues and other nnanclng sources 17.107,878 128,960 17.236,838
m
expenditures and other nnanclng uses: "
expenditures:
Inltructlon 10,282,397 10,282,397 8
Support lervlces 4,855,344 4,855,344
OperaUon of non-Instruction III services 206,574 82.501 289,075
FaclllUes acqulsltlon. construction and m
Improvement services 197,064 197,064
Other nnanclng uses:
Debt service 1,018,089 1,018,089
Interlund transfers 97,144 97.144 C
Total expenditures and other nnanclng uses 16.459,548 279.565 16,739,113
exCelS of revenuel over (under) expenditures 648,330 ( 150,605) 497,725 ~
Fund equity, July 1, 1993 754.905 235,050 989,955 ~
Fund equity. June 30, 1994 $ 1,403,235 $ 84.445 $ 1.487,680
W
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SHIPPENSBURG AREA SCHOOL DISTRICT
COMBINED STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN RETAINED EARNINGS/FUND BALANCE.
PROPRIETARY FUND AND NON-EXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 1994
Proprietary
fund type
Food
service
Operating revenues:
Food aervlce revenue
Earnings on Investments
Total operating revenues
Operating expenses:
Personnel services:
Salaries
Employee benefits
Purchased property services
Other purchased services
Supplies
Depreciation
Indirect cost
$ 475,434
475.434
276,039
92,621
9,794
1,717
306,791
27.046
21.062
Total operating expenses
734,060
( 258,6261
Operating loss
Non-operating revenues:
Eamlngs on Investments
State sources
Federal sources
USDA donated commodities
2.793
27,326
142,538
32.324
204.981
Total non-operating revenues
Net loss
( 53,645)
Retained eamlngs/lUnd balance:
July 1.1993
June 30,1994
282,821
$ 229.176
See notes to combined financial statements,
Aduclary
fund type
Non-lxpendable
INst
$ 1,203
1,203
2,000
2.000
( 7971
( 797)
31.955
$ 31,158
Totals
(memorandum
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$ 475.434
1.203
476,637
276,039
92.621 B
9,794
1.717
306,781
27.046 9
23,062
736,060 rn
( 259.4231
2.793 lli
27,326 ~
142,538
32,324
204.981 ~
( 54.442)
~
314,n6
$ 260,334 G
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COMBINED STATEMENT OF CASH FLOWS
PROPRIETARY FUND AND NON.EXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 1994
INCREASE (DECREASE) IN CASH
Proprietary
fund type
Food
service
Fiduciary
fund type
Non-expendable
trust
Totals
(memorandum
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Cash llows from operating activities:
Operating loss
Adjustments:
OepreclatJon
USDA donated commodities
Changes In assets and lIabllltJes:
(Increase) decrease In:
Accounta receivable
Inventories
Increase In payables
$( 258,6261 $/ 797\ $/259,4231
27,046 27,046
40.895 40,895
( 1,659) 1,659)
( 3,461) 3,461)
19,834 19.834
82,655 82,655
/ 175,971\ ( 797\ / 176,7681
Total adjustments
Net cash used In operating actJvltles
Cash llows from non-capltalllnanclng activities:
Grants and subsidies received for non.operatlng
actJvltJes:
State
Federal
27,326
142,538
27,326
142,538
Net cash provided by non-capital financing activities
169.864
169,864
(continued)
9
SHIPPENSSURQ AREA SCHOOL DISTRICT
COMBINED STATEMENT OF CASH FLOWS
PROPRIETARY FUND AND NON-EXPENDABLE TRUST FUND (CONTINUED)
YEAR ENDED JUNE 30,1994
INCREASE (DECREASE) IN CASH
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Food
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Fiduclery
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Non-expendable
trust
Totals
(memorandum
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Net cash uled In capital and related ftnanclng
ectlvl~el, ecqulsl~on, construction and
Improvement 01 capital assets
Net calh provided by Investing activities,
eamlngl on Inve,tments
Net decrease In cash
$( 4,823\ $( 4,823\
_2,793 2.793
8,137) $( 797) 8,934) ~
90,404 3,955 94,359
$ 82,267 $ 3.158 ~ 85,425 C
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Cash, June 30, 1994
See note& to combined ftnanclalstatements,
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SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30,1994
1. Bllnvnary of elgnlficlntlccountlng pollcl.. (conUnuld):
8IIsls of accounting:
Bull 01 Iccounting relers to when revenues and expenditures are recognized In the Iccounts and
reported In the financial statements.
All govemmentallunds Iltlllze the modified accrual basis 01 accounting. Under this method, revenues
are recorded when lusceptlble to accrllal, I,e" both measllrable and available, Available means
collectible within the current period or soon enough therealter to pay current liabilities. Such revenue
lIems, which are accrued In the year to which they apply, are principally property taxes and
Intergovemmental revenues,
expenditures are generally recognized under the modified accrual basis 01 accounting when the related
lund liability Is Incurred, exceptions to this genllral rule Include principal and Interest on general long-
term debt which Is recognized when due,
Disbursements lor Inventory type Items and prepaid expenses are considered expenditures at the time
01 purchase.
Agency lunds are custodial In nature (assets equal liabilities) and do not Involve measurements 01 results
01 operations. Agency lunds are also accounted lor using the modified accrual basis 01 accounting,
The lood service lund uses the Pennsylvania Department 01 Education prescribed 'modified enterprise
lund' method 01 accounting, Under this lull accrual method 01 accounting:
. Equipment utilized by the lood service lund Is depreciated,
. Donated commodities received by the lood service lund are Inventoried at cost figures provided by
the lederal govemment.
. Inventories are valued on a first-In. first-out basis: remainder Inventories at year-end are a
component 01 retained eamlngs.
The District does not attempt to allocate 'building-wide costs' to the lood service lund, Thus. general
lund expenditures which partially benefit the lood service lund (utilities. janitorial services, Insurance.
etc.) are not proportionately recognized within the lood service lund; similarly, the lood service lund
does not recognize a cost lor the building space It occupies (no rental ollaclllties expense),
13
SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
2. C..h and Inw.tmenta (oonUnued):
Bank Carrying Market
Cateaorv 1 Cateaorv 3 balance amount value
Cuh:
petty cash $ 675
Checking and livings
accounts $ 203,158 $ 3,291,972 $ 3,495,130 3,004,453
Certiftcate 01 deposit 30,000 30.000 30.000
TolIl cash f 233,158 $ 3,291.972 $ 3,525.130 $ 3,035.128
Investments:
PSDLAF $ 1,116 $ 1,116
PLGIT 338 338
U.S. Treasury bond $ 10.000 10,000 10.000
Tollllnvestments $ 10,000 $ 11.454 $ 11.454
3. Property taxe.:
Property taxes are levied on July 1. Taxes are collected at a discount unUI August 31, at their lace amount
from September 1 until October 31, and Include a penalty thereafter. The taxes are billed and collected
by elected tax collectors. The County Tax Claim Bureaus collect delinquent real esllte taxes lor the
School District.
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NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 11194
4, Delinquent tax.. receivable and daferred tax revenuae:
A eummary 01 the tax.. receivable and related accounts follows:
Per capita and
occupational
Real estate taxes Total
Tax duplicate $ 333,322 $ 105,259 $ 438,581
Less amounts considered uncollectible 68,612 66.612
Taxes receivable, net 333,322 38,647 371,969
Less collections received within 60 days 47.358 2,187 49,545
Deferred tax revenues S 285,964 $ 36.460 ~ 322,424
Ii. Accrued IIlarl.. and beneml:
Accrued salaries and benefits at June 30, 1994 consist 01 the following:
General
Fund
Accrued salaries
Retirement
Social Security
Workmen's compensation
$ 606,107
230,315
46,367
4.546
S 887.335
Accrued lalarles represent teachers ' salaries earned during the 1993-94 school year which will be paid
lubsequentto June 30, 11194. Accrued retirement represents the public school employees' retirement
board contribution for the second quarter 01 calendar year 1994 and for accrued salaries at June 30,
11194. Accrued loclal security represents the District's liability on accrued salaries at June 30, 1994.
17
SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
e. Food .ervlol fund IIxld 1..lIta:
ChMges In food service fund fixed /IsseIs:
Machinery
and eaulpment
Balance, July 1, 1993 $ 324,270
Additions 4,ll23
Balance, June 30, 1994 329,093
Less accumulated depreclaUon 1 !l8,387
Net book value at June 30, 1994 , 170,706
7. Glner'llang.term debt:
Summary 01 general obllgaUon bonds (secured by the lulllalth and credit 01 the District):
Amount
Interest rates
Maturity
date
Annual principal
Installments ranalna !rom
1991
$ 5,025,000
4.25%-5.65%
$ 750,000-920,000
1999
The lollowlng Is a summary 01 debt lIansacUons 01 the District lor the year ended June 30, 1994:
Bonds payable at July 1, 1993
Bonds retired, SerIes 0/1991
$ 5,735,000
( 710,000\
Bonds payable at June 30, 1994
S 5.025,000
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SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
'1 7. aenerellong.term debt (oonUnued):
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The debt .ervlce requirements 01 the generel obligation bond. are a. lollow.:
Year ended June 30, Prlncloal Interest Total
1995 $ 750,000 $ 247,440 $ 997,440
1996 785,000 210,003 995,003
1997 825,000 168,928 993,928
1998 870,000 123,987 993,987
1999 920,000 74,968 994,968
thereafter 875,000 24,718 899.718
~ 5,025,000 1 850,044 $ 5.875,044
Interest eKpense on total general long-term debt for the year ended June 30, 1994 was $282,521 and was
provided from general fund eKpendltures.
8. Intergovernmental payable.:
Eamed Income tax office:
Due to municipalities and districts:
Outside districts
Unldentined tax receipts
Unallocated quarterly receipts
Undistributed Interest Income
Unrelmbursed miscellaneous eKpen..s
Other payables:
Overpayment 01 .oclal .ecurlty reimbursement
Due to Penn.ytvanla Department of Education lor
overpayment of .peclal education subsidy
Amounll due to Uncoln Intermediate Unit
Due to other districts for tuition
$ 66S
471
180,158
9,610
( 861)
7,129
59,S24
20,803
3.367
~ 280,868
19
SHIPPENSBURQ AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
D. Interrund account.:
Indlvtdual fund receivable and payable balances at June 30, 1994 were as follows:
InttJrfund Interfund
receivables oavables
General fund $ 48,922 $ 3,122
Special revenue, athleUc funds 626
Food aervlce 3,483 48,292
Agency, .tudent activity funds 365
$ 52.405 $ 52,405
10. Compenllted abllnc..:
Upon reUrement, employees are paid for unused sick days at rates varying with length of service and Job
clas.lficaUon ,ubJect to various maximums. These amounts are recorded as expenditures In the period
taken or In the year of separation. The emount presented In the general long-term debt account group
I. an esUmate.
All teachers and administrators retiring with at least 25 years of service In the Pennsylvania Public School
Employee'. Retirement System (PSERS) and 15 years of service In the District, are paid by the District
for 40% of their accumulated unused sick days (to a maximum of 100 days) at the rate of $50 per day.
Support staff with at least 15 years of service with the PSERS and the District receive payment for 100%
of their accumulated unused sick days at their most recent dally pay rate, up to a maximum of $3,500.
Support staff supervisors with at least 25 years of service with the PSERS and 15 years of service with
the District receive payment for 100% of their unused sick days at a rate of $50 per day up to a maximum
of $5,500.
For the year ended June 30, 1994, benefits attributed to employees retiring during the 1993-94 year
amounted to $29,590 for eight participants,
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SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
11. POlt..mployrnent benefltl:
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), the District provides healthcare
benefill to eligible former employees and their dependents. Requirements are outlined by the federel
govemment for thla coverage, The premium plus a 2% administrative fee Is paid In full by the eligible
participant. This program Is offered lor a duration of up to 18 months after an employees' termination
date. At June 30, 1994 there were 20 participants covered under COBRA.
12. PlrtlclpaUon In rllk Iharlng pool:
The District Is a participant In a risk sharing pool to provide worker's compensation coverage, The
Ixpense for this coverage for the 93-94 year was $52.043, comprised of a sell-Insured retention of
$t4,541 and a contribution to the Central Fund 01 $37,502. Actual claims during the year are paid out
of the self-Insured retention first. Claims that exceed the sell-Insured retention are satisfied by the Central
Fund. The Contral Fund maintains excess Insurance to cover any claims that exceed $400,000 per
accident. There are approximately 60 districts participating In the pool. Each member owns a proportion
01 the pool based upon the funds deposited by that member over the preceding twelve months. If there
Is a deficiency In the pooled funds, each member Is assessed an amount equal to their proportionate
share as described above, Upon withdrawal by an Individual member from the pool, the terminating
member has no rights to funds In the pool.
13. Retirement plan:
School districts In the Commonwealth of Pennsylvania participate In a state administered pension program
astabllshed under legislative authority, which Is a cost,sharlng, multiple-employer, public employees
retirement system iPERS'). Under this program, contributions are made by each of three parties - the
Ichool district, the Commonwealth and the employee. Substantially all the District's full-time employees,
part-time employees salaried over BO days and hourly employees working more than 500 hours per year
participate In the program, Currently, esch party to the program contributes a fixed percentage 01
employees' gross eamlngs.
,
The pension program Is wholly administered, In Pennsylvania, by the statewide, autonomous
Commonwealth of Pennsylvania Public School Employees Retirement System ('the System') with offices
In Harrisburg. Pennsylvania, The District has no responsibility or authority lor the operation and
administration of the pension program, nor has It any related liability except for the current contribution
requirements,
21
SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
13. ReUrement plan (continued):
Benefits:
There are approxlmately 200,000 contrlbullng participants In the pension program and approxlmately
110,000 members, Including beneficiaries receiving or entllled to benefits.
Significant amendments to the System were made In 1975 as a result of amendments to the
Pennsylvania School Employees' Retirement Code ('\he Code') by the Pennsylvania General Assembly.
Under the provisions of the Code, members are eligible for monthly retlrement benefits upon reaching
(a) age 62; (b) age 60 and 30 or more years of lervlce or (c) 35 or more yearl of lervlce regardleas
of age. Act 91, enacted for a period of one year from July 1, 1986 to June 30, 1987 (and lubsequently
extended), permits school employees with at least 30 years of credited lervlce to retire without a
reductlon In benefits,
Such benefits are generally equal to 2% of the member's final average salary (as defined) multiplied by
the number of years of credited service, After completion of 10 years of service, a member's right to
the defined benefit Is vested and early retirement benefits may be elected, Under certain features of
the System, actJve participants may purchase credit for previous types of educational or mltltary service
on a lump-Ium or Installment purchase basis.
In addlllon to regular rellrement benefits, the System also provides for disability retirement benefits and
death benefits. Participants are eligible for disability retirement benefits after complellon of 5 years of
eligible service. Such benefits are equal to 2% of the member final average salary (as defined)
multiplied by the number of years of credited service, but not less than one third of such salary, nor
greater than the benefit the msmber would have had at superannuation retirement age.
Death benefits are payable upon the death of an active member who has reached age 62 or who has
at least 10 years of eligible service. Such benefits are equal to the benefit which would have been
effecllve If the member retired on the day before death.
Members with credited service In the State Employees' Retirement System may elect to transfer such
service to the Public School Employees' Retirement System upon commencement of employment In
the public school system, Similarly. a member with credited service In the System may transfer such
..rvlce to the State Employees' Retirement System upon becoming a member of that system,
Upon termlnallon of a member'. employment In the public school sector, the member's accumulated
contribu1Jons plus Interest are refundable from the Members' Savings Account.
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SHIPPENSBURG AREA SCHOOL DISTRICT
NOTES TO COMBINED FINANCIAL STATEMENTS (CONTINUED)
YEAR ENDED JUNE 30, 1994
13. ReUrlment plan (conUnuld):
Contributions:
~
The contribution policy Is set by Code and requires contributions by active members, employers and
the Commonwealth, The rate of contribution for active members was set by law at 6.25% of the
member's compensation. For members Joining the System on or after July 22, 1983, the rate of
contribution Is 6.25%, The contributions required of employers end the Commonwealth are based upon
an actuarial valuation. using the 'entry age normal' method, computed as a percentage of the total
compensation of all active members during the period for which the amount Is determined, The District
and the Commonwealth percentages are equal and were each 6,585% for the year ended June 30,
1994,
For the fiscal year ended June 30, 1994 (latest unaudited available PERS financial statements),
Commonwealth school districts contributed $466,028,000 and the Commonwealth contrlbut.ed
$471,172,000 to the System. The difference between these two latter amounts result from timing
differences In cash psyments to the System. These contributions approximate 13.17% of current
covered payroll.
During the fiscal year ended June 30. 1993. (latest available System Reporting Actuarial Valuation) there
were no changes In actuarial assumptions or amendments to the Plan which would affect contributions,
For the year ended June 30, 1994, the District contributed $500,784 and employees contributed
$511,839 to the System, Such amounts represented approximately 6.585% and 5.6%, respectively, of
covered payroll of $9,123,513,
Actuarial V11luatlon:
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The amount otthe total pension benefit obligations Is based on astandardlzed measurement established
by the Govemment Accounting Standards Board (GASB) Statement No.5 that, with some exceptions,
must be used by a PERS, The standardized measurement Is the actuarial present value ot credited
projected benefits. This pension valuation method renects the present value of estimated pension
beneftts that will be paid In future years as a result of employee services performed to date, and Is
adjusted for the effects of projected salary Increases. A standardized measure of the pension benefit
obligation was adopted by the GASB to enllble readers of PERS financial statements to (a) assess the
PERS funding statua on a going-concern basis, (b) assess progress made In accumulating suf/iclent
ISsets to pay benefits when due and (c) make comparisons among PERS and among employers,
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SHIPPENSBURQ AREA SCHOOL DISTRICT
GENERAL FUND REVENUES AND OTHER FINANCING SOURCES (CONTINUED)
YEAR ENDED JUNE 30, 1994
Revenue from fteleral .aurce.:
paymenta for ftelerally enected ar... (PL 874)
Dl.advanllged children (ESEA Chapter I)
Pu.ed through Intermediate unlta
Other f.deral program. and grants
$ 23.444
249,758
27,050
44,230 $
344.482
Other IInanclng .ources:
Relund. of prior yeara' expendltur..
Sale of IIxed ..sets
3,863
3.573 7,436
TolIl gen.ral fund revenue. and other IInanclng .aurces
, 17.107,878
27
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.'iHIPPfNSBURO ARfA SCHOOL DISTRICT
n GENERAL FUND EXPENDITURES AND OTHER FINANCING USES (CONTINUED)
YEAR ENDED JUNE 30.1994
:J
Support I.rvlcel:
J Pupll pellonnel:
Salariel $ 373.443
Employee benents 98,032
:J Profelllonal and tllchnlcal ..rvlces 18,543
Property ..rvlc.. 511
Other IIIVlces 3,371
D Suppllel 13,793
Property 6,243
Other objects 382 $ 514,318
C InltructJonal:
Salaries 360,984
Employee benents 104.368
C Professlona' and technical services 3,022
Property leIVlces 3,924
Other leIVlces 12,837
C Supplies 57,972
Property 42.955
Other objects 4,013 590,075
C AdmlnlltraUon:
Salaries 712,948
Employee benents 195.657
C Prof8lslonal and technical services 65,395
Property leIVlces 1.850
Other lervlces 29,960
:J Supplies 12,449
Other objects 8,702 1,026,961
~ Pupil health:
Salaries 84.578
Employee benents 26,033
Professional and technical seIVlces 14,156
J Property lervlces 87
Other lervlces 236
Supplies 2,342
Property 380 127.812
(continued)
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SHIPPENSBURQ AREA SCHOOL DISTRICT
GENERAL FUND EXPENDITURES AND OTHER FINANCING USES (CONTINUED)
YEAR ENDED JUNE 30, 1994
Support .ervlcel (continued):
aulln..l:
Salarlel
Employ.e benents
Prof..llonal and technical lervlces
Property lervlclI
Other lervlcel
Suppllel
Property
Other objects
$ 113,883
34,506
4,089
123
18,252
1.482
1,627
270 $ 172,232
Operation and maintenance of plant services:
Salarlel
Employee benents
ProfelSlonal and technical services
Property lervlces
Other lervlces
Supplies
Property
Other objects
487,921
168.760
3,052
302,789
64,450
213,020
20,017
95
Student transportation lervlces:
Salaries
Employee benents
Profelllonal and technical services
Property lervlces
Other lervlces
Supplies
Central:
Professlonsl and technlclIlservlces
Property services
Other lervlces
Supplies
Property
4.712
706
3,180
8,630
983,586
3.064
48,357
26,849
1,857
11,844
50.104
Othar IUPport lervlces
Total IUpport lervlces
(continued)
1,260,104
1,003,878
139,011
20,953
4.855.344
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SHIPPENSBURG AREA SCHOOL DISTRICT
GENERAL FUND EXPENDITURES AND OTHER FINANCING USES (CONTINUED)
YEAR ENDED JUNE 30,1994
Operation 01 non.ln.tructJonal ..rvlce.:
Student actJvltle.:
Salan..
Employ.. benents
Property .ervlces
Other ..rvlces
Supplies
$ 1 M,695
22,870
9,548
8,268
2,749 $ 198,130
3,458
286
4,700 8.444
206,574
1,018,089
97.144
1.115,233
$ 16.459,548
Community services:
Salanes
Employee benefits
Other objects
Total operation of non-Instructional services
Other nnanclng uses:
Debt service, other objects
Interfund transfers
Total other nnanclng uses
Total general fund expenditures and other financing uses
31
SHIPPENSBURQ AREA SCHOOL DISTRICT
FOOD SERVICE FUND REVENUES
YEAR ENDED JUNE 30, 1994
Operating rev.nues:
Lunch..:
R.gular:
Studenta $ 294,987
Teacherl 16,846
A la carte 138,8S7
Mllc.llan.oul 26.744
Total oper.llng revenuoI 475.434
Non-operallng revenuel:
Eamlngl on Inveltments 2,793
Stale aourclS 27,328
Federal 10UrClS 142,538
USDA donated cOlnmodlllos 32.324
Total non-operallng revenues 204.981
Total fOOd lervlce reven UIS J 680,m
32
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SHIPPENSBURO AREA SCHOOL DISTRICT
COMBINING BALANCE SHEET .
ALL SPECIAL REVENUE FUNDS. JUNE 30, 18H
Capital
Junior high Senior high re..rve
athletics fund athletics fund fund Total
ASSETS
Cash
J 13,747
S 68,707 ~ 65.487 . 147,941
UABIUTIES AND FUND BALANCES
Interfund payablos
Accounll payable
S 626 S 826
S 62,870 82,870
13.121 S 88,707 2.617 84.445
S 13,747 S 68.707 S 65.487 S 147.941
Fund balances
33
SHIPPENSBURQ AREA SCHOOl. DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES. ALL SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30. 1 ;94
Capital
Junior high Senior high ,.serVll
ethletlcs fund IIthletlcs fund fund Totlll
Revenu.., locIII sources S 3.745 S 25,821 S 2,250 S 31.816
Expenditures:
Operlltion 01 non.lnltnJctlonlll services 20,606 61.895 82,501
Fllclllti.. IIcqulsltlon, constnJctlon IInd
Improvement services 197.064 197.064
Total expenditures 20,606 61.895 197.064 279,565
Deficiency 01 revenuel over expenditures ( 16,861) ( 36,074) ( 194,814) ( 247.749)
Other financing sources, Interfund trllns'ers 20.000 57.144 20,000 97.144
Exc..s (deficiency) 01 revenues IInd other
flnllnclng lourc.. over expenditures 3,139 21,070 ( 174,814) ( 150.605)
Fund balance:
Beginning 9,982 47.637 177.431 235.050
Ending S 13,121 ~ 68.707 $ 2.617 ~ 84,445
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