1. Presented by David R. Youngstrom, CPA Presented on October 20, 2015
Troy School District
Presented by
David R. Youngstrom, CPA
Presented on
October 20, 2015

2. Balance Sheet – Governmental Funds June 30, 2015

3. Statement of Revenues, Expenditures and Changes in Fund Balances Year Ended June 30, 2015

4. General Fund Revenues and Other Sources - $136,589,446 June 30, 2015

5. General Fund Expenditures and Other Uses - $137,267,824 June 30, 2015

6. General Fund Expenditures and Other Uses - $137,267,824 June 30, 2015

7. Instructional Expenditures Comparison

8. Per Pupil Analysis of General Fund Revenues and Expenditures

9. Student Enrollment Trend

10. General Fund Unassigned Balance

11. Governance Letter Required Communication Internal Control Matters
Material Weakness – Payroll Rate Changes
Significant Deficiency – Unearned Revenue
Significant Deficiency – Payroll Accrual

12. Governance Letter (continued)
Management Comments
Fund Balance Policy
Contract and Wage Approval
Expenditure Approval
Timely Bank Deposits
Outstanding Check Policy
Personnel Activity Reports
Title I School Selection
Title I Budget Reporting
Title I Proportionate Share
Inventory

13. Single Audit Major Funds Tested: Single Audit Compliance Findings
Nutrition Cluster
Special Education Cluster
Title I
Temporary Assistance to Needy Families
Single Audit Compliance Findings
Cash management – Nutrition
Student eligibility – Nutrition and Title I
Allowable costs – Special Education and Title I
Budget overage – Title I
Proportionate share – Title I

14. Future Challenges State economic/political condition
Fringe benefit costs
Retirement rate increases
Uncertain state revenue sources
Special education costs
Unfunded pension liability – over $177mm
New accounting standards – GASB #75

15. Thank you! David R. Youngstrom, CPA (800) 968-0010