1. SOUTHGATE COMMUNITY SCHOOLS AUDIT REPORT
June 30, 2014

2. SOUTHGATE COMMUNITY SCHOOLS Independent Auditors Report
“In our opinion, the financial statements referred to above present
fairly, in all material respects, the respective financial position of the
governmental activities, each major fund and the aggregate remaining
fund information of Southgate Community School District as of
June 30, 2014, and the respective changes in financial position
for the year then ended in accordance with accounting principles
generally accepted in the United States of America.”

3. SOUTHGATE COMMUNITY SCHOOLS General Fund Balance Sheet
This Year
Last Year
Assets
$10,525,149
$12,201,099
Liabilities
$14,508,131
$17,107,817
Fund Deficit
$(3,982,982)
$(4,906,718)

4. SOUTHGATE COMMUNITY SCHOOLS GENERAL FUND
Budget
Actual
Variance
Favorable/(Unfavorable)
Revenue
$42,740,832
$42,747,799
$6,967
Expenditures
$42,340,587
$41,824,063
$516,524
Excess
Revenue (Expenditures)
$400,245
$923,736
$523,491

5. SOUTHGATE COMMUNITY SCHOOLS GENERAL FUND
2014
2013
Variance
Favorable/(Unfavorable)
Revenue
$42,747,799
$44,173,273
$(1,425,474)
Expenditures
$41,824,063
$45,830,334
$4,006,271
Excess
Revenue (Expenditures)
$923,736
$(1,657,061)
$2,580,797

6. SOUTHGATE COMMUNITY SCHOOLS Fund Balance Perspective June 30, 2014
Million

7. SOUTHGATE COMMUNITY SCHOOLS General Fund: Ending Fund Balance Year Ended June 30, (in Thousands)

8. SOUTHGATE COMMUNITY SCHOOLS General Fund Revenue By Source
$ 42,747,799

9. SOUTHGATE COMMUNITY SCHOOLS General Fund Expenditures By Function
$ 41,824,063

10. SOUTHGATE COMMUNITY SCHOOLS Where The Money Goes
Total Operating Expenditures of $41,824,063

11. SOUTHGATE COMMUNITY SCHOOLS STATE AID FUND FY 2013-14
Source: State of Michigan House Fiscal Agency

12. SOUTHGATE COMMUNITY SCHOOLS Foundation Allowance Per Pupil

13. SOUTHGATE COMMUNITY SCHOOLS Retirement Plan Rates (MPSERS)
Fiscal Year Ending September 30,

14. SOUTHGATE COMMUNITY SCHOOLS Audit Procedures
Internal Control
Independent Confirmation
Examination of Documents
Inventory Observations
Analytical Analysis
Asset/Liability Approach
Peer Review