1. INDEPENDENT SCHOOL DISTRICT NO. 885 St. Michael-Albertville,
Minnesota
Audited Financial Statements
June 30, 2018
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2. 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

3. Audit Findings and Recommendations
Lack of Segregation of Accounting Duties

4. General Education Aid

5. Resident ADM

6. Resident ADM (Continued)

7. Average Daily Membership and Pupil Units

8. Students Served - PUN

9. Students Served – PUN (Continued)

10. Change in Resident ADM and Weighted/Adjusted ADM Served

11. General Fund Budget and Actual

12. General Fund Sources of Revenue

13. General Fund Expenditures

14. General Fund Expenditure Allocation

15. Revenues per ADM Served

16. Expenditures per ADM Served

17. General Fund Operations

18. General Fund Financial Position

19. Unrestricted Fund Balance as of Unrestricted Expenditures

20. Long Term Debt

21. Long Term Debt (Continued)

22. District’s Tax Levies

23. District’s Tax Capacity Rate

24. Net Tax Capacity, Levy, and Tax Capacity Rate

25. Referendum Tax Rate and Referendum Market Value

26. Food Service Fund

27. Community Service Fund

28. Questions?
Matthew Mayer
(952)
Thank you!