INDIANA AREA SCHOOL DISTRICT AUDIT REPORT JUNE 30, 2012.

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Presentation transcript:

INDIANA AREA SCHOOL DISTRICT AUDIT REPORT JUNE 30, 2012

FUND STATEMENTS GOVERNMENTAL FUNDS General Fund Capital Projects Fund (Capital Reserve) Debt Service Fund

FUND STATEMENTS PROPRIETARY FUND Food Service Fund FIDUCIARY FUNDS Agency Fund – Student Activities

FUND BALANCE BY FUND

SOURCES OF REVENUE GENERAL FUND Total Revenues for 2012: $45,446,922 Total Revenues for 2011: $46,217,430Decrease of 1.7%

EXPENDITURES BY FUNCTION GENERAL FUND 2012 Total Expenditures: $45,125, Interfund Transfers: $3,277, Total Expenditures: $46,623, Interfund Transfers: $3,613,268 Decrease of 3.2%

DEBT SERVICE Beginning $22,970,000 Issued 0 Retired (2,200,000) Ending $20,770,000 Current (2,255,000) Long-term $18,515,000 Series 2010$ 5,170,000 Series 2009$ 9,855,000 Series 2008$ 5,690,000 Series 2003A$ 55,000 Total$20,770,000

DEBT SERVICE TO TOTAL EXPENDITURES FOR 16 LOCAL DISTRICTS

BUDGET VS. ACTUAL GENERAL FUND Revenue Variance $988,879Expenditure Variance $866,499

FOOD SERVICE FUND Revenue$ 1,167,538$ 1,164,041 Expense (1,184,161) (1,142,649) Transfers In 70, ,000 Net Income 53, ,392 Beg Net Assets (67,924) (214,316) End Net Assets$ (14,547) $ (67,924)

THANK YOU TO THE BUSINESS OFFICE STAFF FOR YOUR TIME, PREPARATION AND HARD WORK ON THE AUDIT!!