INDEPENDENT SCHOOL DISTRICT NO. 885 St. Michael-Albertville, Minnesota Audited Financial Statements June 30, 2018 Before you begin, save this new document under the appropriate client folder. In the menu, Choose Edit, Replace to replace “CLIENT NAME” with the actual CLIENT NAME. Choosing Replace All will make the change on all slides at once. Change the presentation title as needed.

Independent Auditor’s Reports Unmodified Opinion – Best Opinion Auditor can Issue Financial statements present fairly in all material respects the financial position and change in financial position of the governmental activities, each major fund and the aggregate remaining funds Unmodified Opinion on Single Audit Compliance Child Nutrition Program Minnesota Legal Compliance Public purpose criteria for expenditures Amount of pledged collateral

Audit Findings and Recommendations Lack of Segregation of Accounting Duties

General Education Aid

Resident ADM

Resident ADM (Continued)

Average Daily Membership and Pupil Units

Students Served - PUN

Students Served – PUN (Continued)

Change in Resident ADM and Weighted/Adjusted ADM Served

General Fund Budget and Actual

General Fund Sources of Revenue

General Fund Expenditures

General Fund Expenditure Allocation

Revenues per ADM Served

Expenditures per ADM Served

General Fund Operations

General Fund Financial Position

Unrestricted Fund Balance as of Unrestricted Expenditures

Long Term Debt

Long Term Debt (Continued)

District’s Tax Levies

District’s Tax Capacity Rate

Net Tax Capacity, Levy, and Tax Capacity Rate

Referendum Tax Rate and Referendum Market Value

Food Service Fund

Community Service Fund

Questions? Matthew Mayer (952) 563-6873 Thank you!