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INDIANA AREA SCHOOL DISTRICT AUDIT REPORT JUNE 30, 2012.

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Presentation on theme: "INDIANA AREA SCHOOL DISTRICT AUDIT REPORT JUNE 30, 2012."— Presentation transcript:

1 INDIANA AREA SCHOOL DISTRICT AUDIT REPORT JUNE 30, 2012

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

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

4 FUND BALANCE BY FUND

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

6 EXPENDITURES BY FUNCTION GENERAL FUND 2012 Total Expenditures: $45,125,441 2012 Interfund Transfers: $3,277,177 2011 Total Expenditures: $46,623,218 2011 Interfund Transfers: $3,613,268 Decrease of 3.2%

7 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

8 DEBT SERVICE TO TOTAL EXPENDITURES FOR 16 LOCAL DISTRICTS

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

10 FOOD SERVICE FUND 2012 2011 Revenue$ 1,167,538$ 1,164,041 Expense (1,184,161) (1,142,649) Transfers In 70,000 125,000 Net Income 53,377 146,392 Beg Net Assets (67,924) (214,316) End Net Assets$ (14,547) $ (67,924)

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


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