chinle unified school district no. 24

Transcription

CHINLE UNIFIED
SCHOOL DISTRICT NO. 24
Comprehensive Annual Financial Report
Fiscal Year Ended June 30, 2012
PO Box 587 ♦ Chinle, Arizona 86503
CHINLE UNIFIED SCHOOL DISTRICT NO. 24
CHINLE, ARIZONA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2012
Issued by:
Business and Finance Department
TABLE OF CONTENTS
INTRODUCTORY SECTION
Letter of Transmittal
Page
i
ASBO Certificate of Excellence
vi
GFOA Certificate of Achievement
vii
Organizational Chart
viii
List of Principal Officials
ix
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT
1
MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A)
(Required Supplementary Information)
5
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Assets
18
Statement of Activities
19
Fund Financial Statements:
Balance Sheet - Governmental Funds
22
Reconciliation of the Balance Sheet Governmental Funds to the Statement of Net Assets
25
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
26
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balances - Governmental Funds to the
Statement of Activities
28
TABLE OF CONTENTS (Cont’d)
FINANCIAL SECTION (Cont’d)
Page
BASIC FINANCIAL STATEMENTS (Concl’d)
Statement of Fiduciary Assets and Liabilities
Notes to Financial Statements
29
30
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES-BUDGET AND ACTUAL
General Fund
48
Title I Grants Fund
49
Note to Required Supplementary Information
50
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND
SCHEDULES
Governmental Funds:
Combining Balance Sheet - All Non-Major Governmental Funds By Fund Type
54
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances - All Non-Major Governmental Funds - By Fund Type
55
Special Revenue Funds:
Combining Balance Sheet
60
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
66
Combining Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
72
TABLE OF CONTENTS (Cont’d)
FINANCIAL SECTION (Concl’d)
Page
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND
SCHEDULES (Concl’d)
Capital Projects Funds:
Combining Balance Sheet
98
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
100
Combining Schedule of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
102
Agency Funds:
Combining Statement of Changes in Fiduciary Assets and Liabilities
110
STATISTICAL SECTION
Financial Trends:
Net Assets by Component
112
Expenses, Program Revenues, and Net (Expense)/Revenue
113
General Revenues and Total Changes in Net Assets
115
Fund Balances – Governmental Funds
117
Governmental Funds Revenues
119
Governmental Funds Expenditures and Debt Service Ratio
121
Other Financing Sources and Uses and Net Changes in Fund
Balances – Governmental Funds
123
Revenue Capacity:
Assessed Value and Estimated Actual Value of Taxable Property
124
TABLE OF CONTENTS (Concl’d)
STATISTICAL SECTION (Concl’d)
Page
Direct and Overlapping Property Tax Rates
125
Principal Property Taxpayers
126
Property Tax Levies and Collections
127
Debt Capacity:
Outstanding Debt by Type
128
Direct and Overlapping Governmental Activities Debt
129
Legal Debt Margin Information
130
Demographic and Economic Information:
County-Wide Demographic and Economic Statistics
131
Principal Employers
132
Operating Information:
Full-Time Equivalent District Employees by Type
133
Operating Statistics
135
Capital Assets Information
136
(This page intentionally left blank)
INTRODUCTORY SECTION
Chinle Unified School District No. 24 December 7, 2012
Citizens and Governing Board
Chinle Unified School District No. 24
P.O. Box 587
Chinle, Arizona 86503
State law mandates that school districts required to undergo an annual single audit publish a
complete set of financial statements presented in conformity with accounting principles generally
accepted in the United States of America and audited in accordance with auditing standards
generally accepted in the United States by a certified public accounting firm licensed in the State
of Arizona. Pursuant to that requirement, we hereby issue the comprehensive annual financial
report of the Chinle Unified School District No. 24 (District) for the fiscal year ended
June 30, 2012.
This report consists of management’s representations concerning the finances of the District.
Consequently, management assumes full responsibility for the completeness and reliability of all
of the information presented in this report. To provide a reasonable basis for making these
representations, management of the District has established a comprehensive internal control
framework that is designed both to protect the District’s assets from loss, theft, or misuse and to
compile sufficient reliable information for the preparation of the District’s financial statements in
conformity with accounting principles generally accepted in the United States of America.
Because the cost of internal controls should not outweigh their benefits, the District’s
comprehensive framework of internal controls has been designed to provide reasonable rather
than absolute assurance that the financial statements will be free of material misstatement. As
management, we assert that, to the best of our knowledge and belief, this financial report is
complete and reliable in all material respects.
The District’s financial statements have been audited by Heinfeld, Meech & Co., P.C., a certified
public accounting firm. The goal of the independent audit was to provide reasonable assurance
that the financial statements of the District for the fiscal year ended June 30, 2012, are free of
material misstatement. The independent audit involved examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements; assessing the accounting
principles used and significant estimates made by management; and evaluating the overall
financial statement presentation. The independent auditors concluded, based upon the audit, that
there was a reasonable basis for rendering an unqualified opinion that the District’s financial
statements for the fiscal year ended June 30, 2012, are fairly presented in conformity with
accounting principles generally accepted in the United States of America. The independent
auditors’ report is presented as the first component of the financial section of this report.
i
The independent audit of the financial statements of the District was part of a broader, federally
mandated Single Audit as required by the provisions of the Single Audit Act Amendments of
1996 and U.S. Office of Management and Budget Circular A-133, Audits of States, Local
Governments and Non-Profit Organizations designed to meet the special needs of federal grantor
agencies. The standards governing Single Audit engagements require the independent auditor to
report not only on the fair presentation of the financial statements, but also on the District’s
internal controls and compliance with legal requirements, with special emphasis on internal
controls and legal requirements involving the administration of federal awards. These reports are
available in a separately issued Single Audit Reporting Package.
Accounting principles generally accepted in the United States of America require that
management provide a narrative introduction, overview, and analysis to accompany the basic
financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter
of transmittal is designed to complement the MD&A and should be read in conjunction with it.
The District’s MD&A can be found immediately following the report of the independent
auditors.
PROFILE OF THE DISTRICT
The District is one of eleven public school districts located in Apache County, Arizona. It
provides a program of public education from pre-kindergarten through grade twelve, with an
estimated average daily membership of 3,530. It is 60 miles south of Utah and 30 miles west of
New Mexico in Arizona’s Four Corners region. It is located in the high desert in 100-mile long
Beautiful Valley paralleled by U.S. Highway 191.
The District has seven schools and 3,530 students. It is the largest public school district on the
Navajo Nation, both in geographic size and in the number of students enrolled. The District
boundary encompasses 4,200 square miles. Ninety-eight percent of the students are Navajo.
The District’s Governing Board is organized under Section 15-321 of the Arizona Revised
Statutes (A.R.S.). Management of the District is independent of other state or local
governments. The County Treasurer collects monies for the District, but exercises no control
over its expenditures/expenses.
The membership of the Governing Board consists of five members elected by the public. Under
existing statutes, the Governing Board’s duties and powers include, but are not limited to, the
acquisition, maintenance and disposition of school property; the development and adoption of a
school program; and the establishment, organization and operation of schools. The Board also
has broad financial responsibilities, including the approval of the annual budget, and the
establishment of a system of accounting and budgetary controls.
The financial reporting entity consists of a primary government and its component units. A
component unit is a legally separate entity that must be included in the reporting entity in
conformity with generally accepted accounting principles. The District is a primary government
because it is a special-purpose government that has a separately elected governing body, is
legally separate, and is fiscally independent of other state or local governments. Furthermore,
there are no component units combined with the District for financial statement presentation
purpose, and the District is not included in any other governmental reporting entity.
Consequently, the District’s financial statements include only the funds of those organizational
entities for which its elected governing board is financially accountable. The District’s major
operations include education, student transportation, construction and maintenance of District
facilities, food services, bookstore and athletic functions.
ii
Our primary goal is to become a high-performing district that consistently provides what is
known as a “world-class education” for each individual student. Moving forward we have
partnered with ASU by participating in the Teacher Advancement Partnership (TAP) grant.
Financial resources will be targeted towards the implementation of this program by providing
matching funds which escalate in cost over a four-year period. We are committed to enhancing
student performance by agreeing to sustain this program after the grant period.
The annual expenditure budget serves as the foundation for the District’s financial planning and
control. The objective of these budgetary controls is to ensure compliance with legal provisions
embodied in the annual expenditure budget approved by the District’s Governing Board.
The expenditure budget is prepared by fund for all Governmental Funds, and includes function
and object code detail for the General Fund, and some Special Revenue and Capital Projects
Funds. The legal level of budgetary control (that is, the level at which expenditures cannot
exceed the appropriated amount) is established at the individual fund level for all funds. Funds
that are not required to legally adopt a budget may have overexpenditures of budgeted funds.
The budget for these funds is simply an estimate and does not prevent the District from
exceeding the budget as long as the necessary revenue is earned. The District is not required to
prepare an annual budget of revenue, therefore a deficit budgeted fund balance may be presented.
However, this does not affect the District’s ability to expend monies.
FACTORS AFFECTING FINANCIAL CONDITION
The information presented in the financial statements is perhaps best understood when it is
considered from the broader perspective of the specific environment within which the District
operates.
Local Economy. The economy of the District and its principal communities of Chinle, Many
Farms and Tsaile are derived from public services, government and education. A small
commercial influence serving the needs of these communities and the tourist element of the
Canyon de Chelly National Monument are also present. The community is experiencing a slight
increase in population primarily attributed to the lack of employment opportunities outside the
community. In the past, high unemployment rates have forced individuals to seek employment
off the Navajo Reservation. Families are returning home because of the downturn in the
economy nationwide. Despite the recent population increase overall enrollment numbers are
down as compared to 1999. The District has seen enrollment numbers as high as 4,300 in fiscal
year 1999 declining to currently 3,530. This represents a 19% reduction in the District’s student
count.
Long-term Financial Planning. Decreases with enrollment numbers are offset by inflation
funding increases providing stability with revenues. The recent economic downturn has required
the District to reduce staffing in order to maintain services and programs offered to students.
Funding cuts in State revenue has required the District to expend more Impact Aid dollars, which
are payment in lieu of taxes because of a Federal presence. In the District’s case the land is held
in Trust by the Federal Government. These students reside on Indian lands. The Maintenance
and Operation budget has decreased from $21.7 million to $20.5 million. This reduction is a
direct result of the loss of students from the previous year. Reductions to the Maintenance and
Operation budget will be absorbed by the Impact Aid Fund. Increased Federal Impact Aid
revenues through inflation or growth factors have allowed the District to see a slight increase.
iii
The District has experienced a decline in enrollment. Despite the decline in enrollment and State
revenues, the District continues to maintain basic services. The District is paid one-half of the
national average per pupil expenditure as Impact Aid revenues. This amount is adjusted annually
and the trend has been positive. Chinle Unified School District’s strong financial position will
allow it to operate despite the loss in State revenue and budget capacity. The loss in budget
capacity is shifted to the Impact Aid Fund.
A District policy statement adopted by the Governing Board is to improve student services and
to enhance instruction while improving student achievement. This is evidenced by the continued
investment in classroom construction and renovation. Technology continues to be updated by
purchasing equipment and software to supplement the curriculum and instruction. Research has
shown that student performance is increased with improved learning environments. This is
supported by continued investment in capital.
Our continued investment in construction projects has resulted in the oldest buildings being
constructed in 1989. This continued trend will include renovation of these spaces. They include
the Chinle High School and Chinle Elementary School. Completion of current construction and
renovation projects will allow these sites to be moved up on the priority list. The Five Year
Capital Facility plan will be revisited to identify construction and capital needs to provide a road
map for future projects and establish budget needs.
The District continues to strive for more dollars in the classroom. Budgets are developed with
an emphasis of expenditures being directed towards instruction. This practice sustains improved
student services and instruction. This fiscal policy is evidenced in the report as expenditures
with instruction have increased over the prior year.
With prudent fiscal management the District can maintain its excellent financial position as seen
in the financial statements contained in this report. The District continues to maintain healthy
fund balances in the Maintenance and Operation Fund and Unrestricted Capital Outlay Fund.
The District is fortunate to maintain its pay as you go practice, which has resulted in no debt
service. This positive trend will continue in future years.
AWARDS AND ACKNOWLEDGMENTS
Awards. The Association of School Business Officials International (ASBO) awarded a
Certificate of Excellence in Financial Reporting to the District for its comprehensive annual
financial report for the fiscal year ended June 30, 2011. In addition, the Government Finance
Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial
Reporting to the District for its comprehensive annual financial report for the fiscal year ended
June 30, 2011. In order to be awarded these certificates, the District published an easily readable
and efficiently organized comprehensive annual financial report. This report satisfied both
accounting principles generally accepted in the United States of America and applicable legal
requirements.
These certificates are valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the programs’ requirements and we are
submitting it to ASBO and GFOA to determine its eligibility for the fiscal year 2011-12
certificates.
iv
Acknowledgments. The preparation of the comprehensive annual financial report on a timely
basis was made possible by the dedicated service of the entire staff of the business and finance
department. Each member of the department has our sincere appreciation for the contributions
made in the preparation of this report.
In closing, without the leadership and support of the Governing Board of the District, preparation
of this report would not have been possible.
Respectfully submitted,
Dr. Jesus de la Garza
Superintendent
Quincy Natay
Assistant Superintendent for
Business and Finance
v
This Certificate of Excellence in Financial Reporting is presented to
For its Comprehensive Annual Financial Report (CAFR)
For the Fiscal Year Ended June 30, 2011
Upon recommendation of the Association’s Panel of Review which has judged that the Report
substantially conforms to principles and standards of ASBO’s Certificate of Excellence Program
President
Executive Director
vi
vii
viii
LIST OF PRINCIPAL OFFICIALS
GOVERNING BOARD
Wayne Claw
President
Virgil Brown, Jr.
Clerk
Rose W. Martinez
Member
Joyce W. Nez
Member
Paul Guy, Jr.
Member
ADMINISTRATIVE STAFF
Dr. Jesus de la Garza, Superintendent
Quincy Natay, Assistant Superintendent for Business and Finance
Kerri Sepulveda, Assistant Business Manager
ix
x
FINANCIAL SECTION
751 E. Pine Knoll Dr., Suite 1201
Flagstaff, Arizona 86001
Tel (928) 774-4201
Fax (928) 774-4268
INDEPENDENT AUDITORS’ REPORT
Governing Board
We have audited the accompanying financial statements of the governmental activities, each
major fund, and the aggregate remaining fund information of the Chinle Unified School District
No. 24 (District), as of and for the year ended June 30, 2012, which collectively comprise the
District’s basic financial statements as listed in the table of contents. These financial statements
are the responsibility of the District’s management. Our responsibility is to express opinions on
these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and the significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinions.
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 the Chinle Unified School District No. 24 as of
June 30, 2012, and the respective changes in financial position and cash flows thereof for the
year then ended in conformity with accounting principles generally accepted in the United States
of America.
In accordance with Government Auditing Standards, we have also issued our report dated
December 7, 2012, on our consideration of the Chinle Unified School District No. 24’s internal
control over financial reporting and on our tests of its compliance with certain provisions of
laws, regulations, contracts, and grant agreements and other matters. The purpose of that report
is to describe the scope of our testing of internal control over financial reporting and compliance
and the results of that testing, and not to provide an opinion on the internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards and should be considered in assessing the results of our
audit.
TUCSON • PHOENIX • FLAGSTAFF • ALBUQUERQUE
www.heinfeldmeech.com
Accounting principles generally accepted in the United States of America require that the
management’s discussion and analysis on pages 5 through 13 and budgetary comparison
information on pages 48 through 50 be presented to supplement the basic financial statements.
Such information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary
information in accordance with auditing standards generally accepted in the United States of
America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management’s responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the
basic financial statements. We do not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the District’s financial statements as a whole. The accompanying
supplementary information such as the introductory section, combining and individual fund
financial statements and schedules, and statistical section are presented for purposes of additional
analysis and are not a required part of the financial statements. The combining and individual
fund financial statements and schedules are the responsibility of management and were derived
from and relate directly to the underlying accounting and other records used to prepare the
financial statements. The information has been subjected to the auditing procedures applied in
the audit of the financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to
prepare the financial statements or to the financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States of
America. In our opinion, the information is fairly stated in all material respects in relation to the
financial statements as a whole. The introductory and statistical sections have not been subjected
to the auditing procedures applied in the audit of the basic financial statements and, accordingly,
we do not express an opinion or provide any assurance on them.
HEINFELD, MEECH & CO., P.C.
CPAs and Business Consultants
December 7, 2012
Page 2
Page 3
Page 4
YEAR ENDED JUNE 30, 2012
As management of the Chinle Unified School District No. 24 (District), we offer readers of the
District’s financial statements this narrative overview and analysis of the financial activities of
the District for the fiscal year ended June 30, 2012. We encourage readers to consider the
information presented here in conjunction with additional information that we have furnished in
our letter of transmittal, which can be found in the introductory section of this report.
FINANCIAL HIGHLIGHTS

The District’s total net assets of governmental activities increased $3.5 million which
represents a 2 percent increase from the prior fiscal year as a result of increases in capital
grants and contributions and charges for services and decreases in expenses for
instruction and support services.

General revenues accounted for $42.4 million in revenue, or 76 percent of all current
fiscal year revenues. Program specific revenues in the form of charges for services and
grants and contributions accounted for $13.2 million, or 24 percent of total current fiscal
year revenues.

The District had approximately $52.2 million in expenses related to governmental
activities, a decrease of 2 percent from the prior fiscal year.

Among major funds, the General Fund had $42.2 million in current fiscal year revenues,
which primarily consisted of state and federal aid and $47.2 million in expenditures. The
General Fund’s fund balance decrease from $34.9 million at the prior fiscal year end to
$30.8 million at the end of the current fiscal year was primarily due to an increase in
capital outlay for classroom renovations and the construction of new employee housing.
OVERVIEW OF FINANCIAL STATEMENTS
This discussion and analysis are intended to serve as an introduction to the District’s basic
financial statements. The District’s basic financial statements comprise three components: 1)
government-wide financial statements, 2) fund financial statements, and 3) notes to the financial
statements. This report also contains other supplementary information in addition to the basic
financial statements themselves.
Government-wide financial statements. The government-wide financial statements are
designed to provide readers with a broad overview of the District’s finances, in a manner similar
to a private-sector business. The accrual basis of accounting is used for the government-wide
financial statements.
Page 5
OVERVIEW OF FINANCIAL STATEMENTS (Cont’d)
The statement of net assets presents information on all of the District’s assets and liabilities, with
the difference between the two reported as net assets. Over time, increases or decreases in net
assets may serve as a useful indicator of whether the financial position of the District is
improving or deteriorating.
The statement of activities presents information showing how the District’s net assets changed
during the most recent fiscal year. All changes in net assets are reported as soon as the
underlying event giving rise to the change occurs, regardless of the timing of related cash flows.
Thus, revenues and expenses are reported in this statement for some items that will only result in
cash flows in future fiscal periods (e.g., earned but unused compensated absences).
The government-wide financial statements outline functions of the District that are principally
supported by intergovernmental revenues. The governmental activities of the District include
instruction, support services, operation and maintenance of plant services, student transportation
services, and operation of non-instructional services.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives. The
District uses fund accounting to ensure and demonstrate compliance with finance-related legal
requirements. All of the funds of the District can be divided into two categories: governmental
funds and fiduciary funds.
Governmental funds. Governmental funds are used to account for essentially the same
functions reported as governmental activities in the government-wide financial statements.
However, unlike the government-wide financial statements, governmental fund financial
statements use the modified accrual basis of accounting and focus on near-term inflows of
spendable resources, as well as on balances of spendable resources available at the end of the
fiscal year. Such information may be useful in evaluating the District’s near-term financing
requirements.
Because the focus of governmental funds is narrower than that of the government-wide
financial statements, it is useful to compare the information presented for governmental
funds with similar information presented for governmental activities in the government-wide
financial statements. By doing so, readers may better understand the long-term impact of the
District’s near-term financing decision. Both the governmental fund balance sheet and the
governmental fund statement of revenues, expenditures and changes in fund balances provide
a reconciliation to facilitate this comparison between governmental funds and governmental
activities.
Page 6
OVERVIEW OF FINANCIAL STATEMENTS (Concl’d)
Information is presented separately in the governmental fund balance sheet and in the
governmental fund statement of revenues, expenditures and changes in fund balances for the
General Fund and Title I Grants Fund, both of which are considered to be major funds. Data
from the other governmental funds are combined into a single, aggregated presentation.
Individual fund data for each of these non-major governmental funds is provided in the form
of combining statements and schedules.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of
parties outside the District. Fiduciary funds are not reflected in the government-wide
financial statements because the resources of those funds are not available to support the
District’s own programs. Due to their custodial nature, fiduciary funds do not have a
measurement focus.
Notes to the financial statements. The notes provide additional information that is essential to
a full understanding of the data provided in the government-wide and fund financial statements.
The notes to the financial statements can be found immediately following the basic financial
statements.
Other information. In addition to the basic financial statements and accompanying notes, this
report also presents certain required supplementary information concerning the District’s budget
process. The District adopts an annual expenditure budget for all governmental funds. A
schedule of revenues, expenditures and changes in fund balances - budget and actual has been
provided for the General Fund and Title I Grants Fund as required supplementary information.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net assets may serve over time as a useful indicator of a government’s financial position. In the
case of the District, assets exceeded liabilities by $209.5 million at the current fiscal year end.
The largest portion of the District’s net assets reflects its investment in capital assets (e.g., land
and improvements, buildings and improvements, vehicles, furniture and equipment and
construction in progress), less any related debt used to acquire those assets that is still
outstanding. The District uses these capital assets to provide services to its students;
consequently, these assets are not available for future spending. The District had no related debt.
In addition, a portion of the District’s net assets are restricted by statute for special purposes and
capital outlay investment.
Page 7
GOVERNMENT-WIDE FINANCIAL ANALYSIS (Cont’d)
The following table presents a summary of the District’s net assets for the fiscal years ended
June 30, 2012 and June 30, 2011.
Current and other assets
Capital assets, net
Total assets, net
Current and other liabilities
Long-term liabilities
Total liabilities
Net assets:
Invested in capital assets
Restricted
Unrestricted
Total net assets
As of
June 30, 2012
$ 41,060,578
172,807,243
213,867,821
As of
June 30, 2011
(as restated)
$
47,976,312
163,523,186
211,499,498
3,562,092
763,940
4,326,032
4,624,789
819,237
5,444,026
172,807,243
6,733,173
30,001,373
$ 209,541,789
163,523,186
8,722,745
33,809,541
206,055,472
$
At the end of the current fiscal year the District reported positive balances in all three categories
of net assets. The same situation held true for the prior fiscal year.
The District’s financial position is the product of several financial transactions including the net
results of activities, the acquisition and payment of debt, the acquisition and disposal of capital
assets, and the depreciation of capital assets. The following is a significant current year
transaction that had an impact on the Statement of Net Assets.

Page 8
The addition of $15.3 million in capital assets through the construction of new employee
housing and a gymnasium, and the renovation of classrooms at Tsaile Elementary School.
Changes in net assets. The District’s total revenues for the current fiscal year were $55.7
million. The total cost of all programs and services was $52.2 million. The following table
presents a summary of the changes in net assets for the fiscal years ended June 30, 2012 and
June 30, 2011.
Revenues:
Program revenues:
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues:
Investment income
Unrestricted county aid
Unrestricted state aid
Unrestricted federal aid
Total revenues
Fiscal Year Ended
June 30, 2012
Fiscal Year Ended
June 30, 2011
(as restated)
$
$
Expenses:
Instruction
Support services – students and staff
Support services – administration
Operation and maintenance of plant services
Student transportation services
Operation of non-instructional services
Total expenses
Change in net assets
Net assets, beginning, as restated
Net assets, ending
$
Page 9
2,026,601
9,564,176
1,615,753
1,344,864
12,949,827
380,041
234,068
1,033,028
20,100,262
21,066,029
55,639,917
555,253
740,321
20,014,552
22,812,014
58,796,872
25,762,502
6,977,301
4,616,883
7,396,311
5,025,258
2,375,345
52,153,600
3,486,317
206,055,472
209,541,789
26,528,313
8,087,710
4,616,439
7,161,299
4,547,360
2,376,988
53,318,109
5,478,763
200,576,709
206,055,472
$
{Gr
Expenses
$30
Millions
$25
$20
$15
$10
$5
$0
FY2011-12
FY2010-11
should be just like this one. }
The following are significant current year transactions that have had an impact on the change in
net assets.

Operating grants and contributions decreased $3.4 million primarily due to a decrease in
American Reinvestment and Recovery Act (ARRA) funding.

Unrestricted federal aid decreased $1.7 million primarily due to reduced Impact Aid
funding.

Expenses decreased $1.2 million primarily due to a decrease in professional services
purchased.
The following table presents the cost of the District’s major functional activities. The table also
shows each function’s net cost (total cost less charges for services generated by the activities and
intergovernmental aid provided for specific programs). The net cost shows the financial burden
that was placed on the State and District’s taxpayers by each of these functions.
Page 10
GOVERNMENT-WIDE FINANCIAL ANALYSIS (Concl’d)
Year Ended June 30, 2012
Year Ended June 30, 2011
Total
Net (Expense)/
Total
Net (Expense)/
Expenses
Revenue
Expenses
Revenue
Instruction
$ 25,762,502 $ (18,817,159) $ 26,528,313 $ (18,687,510)
6,977,301
(3,920,823)
$8,087,710
(4,019,825)
4,616,883
(4,321,420)
$4,616,439
(4,127,108)
7,396,311
(7,014,971)
$7,161,299
(7,099,026)
5,025,258
(4,951,392)
$4,547,360
(4,547,360)
2,375,345
78,695
$2,376,988
(162,548)
$ 52,153,600 $ (38,947,070) $ 53,318,109 $ (38,643,377)
Total

The cost of all governmental activities this year was $52.2 million.

Federal and State governments and charges for services subsidized certain programs with
grants and contributions and other local revenues of $13.2 million.

Net cost of governmental activities of $38.9 million was financed by general revenues,
which are made up of primarily federal aid of $21.1 million and state aid of $20.1
million.
FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS
As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with
finance-related legal requirements.
Governmental funds. The focus of the District’s governmental funds is to provide information
on near-term inflows, outflows, and balances of spendable resources. Such information is useful
in assessing the District’s financing requirements. In particular, unassigned fund balance may
serve as a useful measure of the District’s net resources available for spending at the end of the
fiscal year.
The financial performance of the District as a whole is reflected in its governmental funds. As
the District completed the year, its governmental funds reported a combined fund balance of
$37.5 million, a decrease of $5.9 million due primarily to reductions in Impact Aid and
American Reinvestment and Recovery Act (ARRA) funding.
The General Fund comprises 82 percent of the total fund balance. Approximately $29.1 million
or 95 percent of the General Fund’s fund balance constitutes unassigned fund balance.
Page 11
FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS (Concl’d)
The General Fund is the principal operating fund of the District. The decrease in fund balance of
$4.2 million to $30.8 million as of fiscal year end was a result of an increase in capital outlay for
classroom renovations, a gymnasium and the construction of new employee housing. General
Fund revenues decreased $763,868. General Fund expenditures increased $7.8 million. This was
a result of increases in salaries and related benefits and capital outlay.
BUDGETARY HIGHLIGHTS
Over the course of the year, the District revised the General Fund annual expenditure budget for
changes in student growth. The difference between the original budget and the final amended
budget was a $61,064 decrease, or less than one percent.
Significant variances for the final amended budget and actual revenues resulted from the District
not being required by the State of Arizona to prepare a revenue budget. A schedule showing the
original and final budget amounts compared to the District’s actual financial activity for the
General Fund is provided in this report as required supplementary information. The significant
variance is summarized as follows.

The favorable variance of $1.5 million in instruction was a result of lower than
anticipated salaries, benefits, and purchased services.
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets. At year end, the District had invested $242.3 million in capital assets, including
school buildings, athletic facilities, buses and other vehicles, computers, and other equipment.
This amount represents a net increase prior to depreciation of $15.1 million from the prior fiscal
year, primarily due to the construction of new employee housing and a gymnasium, and the
renovation of classrooms at Tsaile Elementary School. Total depreciation expense for the
current fiscal year was $6.0 million.
The following schedule presents a summary of capital asset balances for the fiscal years ended
June 30, 2012 and June 30, 2011.
Capital assets – non-depreciable
Capital assets – depreciable, net
Total
Page 12
As of
As of
June 30, 2012
June 30, 2011
$
9,830,091 $
13,702,677
162,977,152
149,820,509
$ 172,807,243 $ 163,523,186
CAPITAL ASSETS AND DEBT ADMINISTRATION (Concl’d)
The estimated cost to complete current construction projects is $12.8 million.
Additional information on the District’s capital assets can be found in Note 6.
Debt Administration. At fiscal year end, the District had no long-term debt outstanding.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES
Many factors were considered by the District’s administration during the process of developing
the fiscal year 2012-13 budget. Among them:



Fiscal year 2011-12 budget balance carry forward (estimated $778,751).
District student population (estimated 3,483).
Employee salaries (will be increased 2% estimated at $816,256).
Also considered in the development of the budget is the local economy and inflation of the
surrounding area.
Budgeted expenditures in the General Fund decreased less than one percent to $20.4 million in
fiscal year 2012-13. A reduction in state funding calculations is the primary reason for the
decrease. Federal and state aid are expected to be the primary funding sources. No new
programs were added to the 2012-13 budget.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, and investors and creditors
with a general overview of the District’s finances and to demonstrate the District’s accountability
for the resources it receives. If you have questions about this report or need additional
information, contact the Business and Finance Department, Chinle Unified School District No.
24, P. O. Box 587, Chinle, Arizona 86503-0587.
Page 13
Page 14
BASIC FINANCIAL STATEMENTS
Page 15
Page 16
GOVERNMENT-WIDE FINANCIAL STATEMENTS
Page 17
STATEMENT OF NET ASSETS
JUNE 30, 2012
Governmental
Activities
ASSETS
Current assets:
Cash and investments
Due from governmental entities
Prepaid items
Inventory
Total current assets
$
Noncurrent assets:
Land improvements
Buildings and improvements
Vehicles, furniture and equipment
Construction in progress
Accumulated depreciation
Total noncurrent assets
Total assets
30,092,274
9,334,139
568,601
1,065,564
41,060,578
11,392,960
197,017,960
24,016,388
9,830,091
(69,450,156)
172,807,243
213,867,821
LIABILITIES
Current liabilities:
Accounts payable
Construction contracts payable
Compensated absences payable
Unearned revenues
Total current liabilities
1,580,942
1,787,914
500,000
193,236
4,062,092
Noncurrent liabilities:
Non-current portion of long-term obligations
Total noncurrent liabilities
Total liabilities
263,940
263,940
4,326,032
NET ASSETS
Invested in capital assets
Restricted for:
Federal and state projects
Food service
Other local initiatives
Capital outlay
Unrestricted
Total net assets
172,807,243
$
1,716,894
535,942
807,022
3,673,315
30,001,373
209,541,789
The notes to the basic financial statements are an integral part of this statement.
Page 18
STATEMENT OF ACTIVITIES
Net (Expense)
Revenue and
Changes in Net
Assets
Program Revenues
Functions/Programs
Governmental activities:
Instruction
Support services - students and staff
Support services - administration
Operation and maintenance
of plant services
Total governmental activities
Charges for
Services
Expenses
$
$
25,762,502 $
6,977,301
4,616,883
1,104,771 $
7,396,311
5,025,258
2,375,345
52,153,600 $
381,340
Operating
Grants and
Contributions
540,490
2,026,601 $
Capital Grants
and
Contributions
Governmental
Activities
4,224,819 $
3,056,478
295,463
1,615,753 $ (18,817,159)
(3,920,823)
(4,321,420)
73,866
1,913,550
9,564,176 $
(7,014,971)
(4,951,392)
78,695
(38,947,070)
1,615,753
General revenues:
Investment income
Total general revenues
234,068
1,033,028
20,100,262
21,066,029
42,433,387
Changes in net assets
3,486,317
Net assets, beginning of year, as restated
Net assets, end of year
Page 19
206,055,472
$
209,541,789
Page 20
FUND FINANCIAL STATEMENTS
Page 21
BALANCE SHEET - GOVERNMENTAL FUNDS
JUNE 30, 2012
General
ASSETS
Due from other funds
Prepaid items
Inventory
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Due to other funds
Deferred revenues
Total liabilities
$
$
$
Title I Grants
22,781,565
7,745,944
922,808
568,601
1,065,564
33,084,482
$
$
646,648
1,672,521
$
$
7,310,709
815,796
772,399
$
8,126,505
136,684
$
797,610
115,393
287,093
193,236
1,393,332
772,399
635,715
2,319,169
Fund balances:
Nonspendable
Restricted
Unassigned
Total fund balances
772,399
1,634,165
6,733,173
29,131,148
30,765,313
Total liabilities and fund balances
$
33,084,482
6,733,173
$
772,399
Page 22
Non-Major
Governmental
Funds
$
8,126,505
Total
Governmental
Funds
$
$
$
30,092,274
9,334,139
922,808
568,601
1,065,564
41,983,386
1,580,942
1,787,914
922,808
193,236
4,484,900
1,634,165
6,733,173
29,131,148
37,498,486
$
41,983,386
Page 23
Page 24
RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET ASSETS
JUNE 30, 2012
Total governmental fund balances
$
37,498,486
Amounts reported for governmental activities in the Statement of
Net Assets are different because:
Capital assets used in governmental activities are not financial
resources and therefore are not reported in the funds.
Governmental capital assets
Less accumulated depreciation
$ 242,257,399
(69,450,156)
172,807,243
Compensated absences are not due and payable in the
current period and therefore are not reported in
the funds.
Net assets of governmental activities
(763,940)
$
Page 25
209,541,789
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
General
Revenues:
Other local
State aid and grants
Federal aid, grants and reimbursements
Total revenues
$
2,121,830
19,024,581
21,066,029
42,212,440
Title I Grants
$
Non-Major
Governmental
Funds
$
4,474,862
4,474,862
1,435,915
1,317,846
6,198,854
8,952,615
Expenditures:
Current Instruction
Capital outlay
Total expenditures
15,643,141
2,824,324
3,828,503
7,206,522
3,749,181
35,000
13,940,205
47,226,876
2,402,880
1,526,574
175,505
96,131
4,280,247
3,186,394
1,529,056
149,222
11,212
13,876
2,267,633
3,393,851
10,551,244
Excess (deficiency) of revenues over expenditures
(5,014,436)
194,615
(1,598,629)
(194,615)
(194,615)
(113,866)
(113,866)
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses):
79,157
308,481
308,481
Changes in fund balances
(4,705,955)
(1,712,495)
Fund balances, beginning of year, as restated
34,905,855
8,445,668
Increase (decrease) in reserve for prepaid items
Increase (decrease) in reserve for inventory
568,601
(3,188)
Fund balances, end of year
$
30,765,313
$
Page 26
$
6,733,173
Total
Governmental
Funds
$
3,557,745
20,342,427
31,739,745
55,639,917
21,232,415
5,879,954
4,153,230
7,217,734
3,842,214
2,302,633
17,430,187
62,058,367
(6,418,450)
308,481
(308,481)
(6,418,450)
43,351,523
568,601
(3,188)
$
37,498,486
Page 27
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
Net changes in fund balances - total governmental funds
$
(5,853,037)
Amounts reported for governmental activities in the Statement of
Activities are different because:
Governmental funds report capital outlay as expenditures. However,
in the Statement of Activities, the cost of those assets are allocated
over their estimated useful lives as depreciation expense.
Expenditures for capitalized assets
Less current year depreciation
$
15,263,221
(5,979,164)
9,284,057
Compensated absence expenses reported in the Statement of Activities
do not require the use of current financial resources and therefore are not reported as
expenditures in governmental funds.
Change in net assets in governmental activities
Page 28
55,297
$
3,486,317
STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES
JUNE 30, 2012
Agency
ASSETS
Total assets
$
$
173,605
173,605
LIABILITIES
Due to student groups
Total liabilities
$
$
173,605
173,605
Page 29
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2012
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the Chinle Unified School District No. 24 (District) have been
prepared in conformity with accounting principles generally accepted in the United States of
America as applied to government units. The Governmental Accounting Standards Board
(GASB) is the accepted standard-setting body for establishing governmental accounting and
financial reporting principles.
The more significant of the District’s accounting policies are described below.
A. Reporting Entity
The Governing Board is organized under Section 15-321 of the Arizona Revised Statutes
(A.R.S.). Management of the District is independent of other state or local governments. The
County Treasurer collects taxes for the District, but exercises no control over its
expenditures/expenses.
The membership of the Governing Board consists of five members elected by the public.
Under existing statutes, the Governing Board’s duties and powers include, but are not limited
to, the acquisition, maintenance and disposition of school property; the development and
adoption of a school program; and the establishment, organization and operation of schools.
The Board also has broad financial responsibilities, including the approval of the annual
budget, and the establishment of a system of accounting and budgetary controls.
The financial reporting entity consists of a primary government and its component units. A
component unit is a legally separate entity that must be included in the reporting entity in
conformity with generally accepted accounting principles. The District is a primary
government because it is a special-purpose government that has a separately elected
governing body, is legally separate, and is fiscally independent of other state or local
governments. Furthermore, there are no component units combined with the District for
financial statement presentation purposes, and the District is not included in any other
governmental reporting entity. Consequently, the District’s financial statements include only
the funds of those organizational entities for which its elected governing board is financially
accountable. The District’s major operations include education, student transportation,
construction and maintenance of District facilities, food services, bookstore and athletic
functions.
Page 30
JUNE 30, 2012
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)
B. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net assets and the statement
of activities) present financial information about the District as a whole. The reported
information includes all of the nonfiduciary activities of the District. For the most part, the
effect of internal activity has been removed from these statements. These statements are to
distinguish between the governmental and business-type activities of the District.
Governmental activities normally are supported by taxes and intergovernmental revenues,
and are reported separately from business-type activities, which rely to a significant extent on
fees and charges for support. The District does not have any business-type activities.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenues. Direct expenses are those that are
clearly identifiable with a specific function or segment. Program revenues include 1) charges
to customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function or segment and 2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function or
segment. Unrestricted Federal, State and County aid, and other items not included among
program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds and fiduciary funds, even
though the latter are excluded from the government-wide financial statements. Major
individual governmental funds are reported as separate columns in the fund financial
statements.
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Government-Wide Financial Statements - The government-wide financial statements are
reported using the economic resources measurement focus and the accrual basis of
accounting. Revenues are recorded when earned and expenses are recorded when a liability
is incurred, regardless of the timing of related cash flows. Property taxes are recognized as
revenue in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the grantor or provider have been
met. As a general rule, the effect of internal activity has been eliminated from the
government-wide financial statements; however, the effects of interfund services provided
and used between functions are reported as expenses and program revenues at amounts
approximating their external exchange value.
Page 31
JUNE 30, 2012
Fund Financial Statements - Governmental fund financial statements are reported using the
current financial resources measurement focus and the modified accrual basis of accounting.
Revenues are recognized as soon as they are both measurable and available. Revenues are
considered to be available when they are collectible within the current period or soon enough
thereafter to pay liabilities of the current period. For this purpose, the District considers
revenues to be available if they are collected within 60 days of the end of the current fiscal
period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. Compensated absences are recorded only when payment is due.
State, Federal and County aid and investment income associated with the current fiscal
period are all considered susceptible to accrual and have been recognized as revenues of the
current fiscal period. Food services and miscellaneous revenues are not susceptible to
accrual because generally they are not measurable until received in cash. Grants and similar
awards are recognized as revenue as soon as all eligibility requirements imposed by the
grantor or provider have been met. Deferred revenues arise when resources are received by
the District before it has legal claim to them, as when grant monies are received prior to
meeting all eligibility requirements imposed by the provider.
Receivables that will not be collected within the available period have been reported as
deferred revenue on the governmental fund financial statements.
The focus of governmental fund financial statements is on major funds rather than reporting
funds by type. Each major fund is presented in a separate column. Non-major funds are
aggregated and presented in a single column. Fiduciary funds are reported by fund type.
The District reports the following major governmental funds:
General Fund – The General Fund is the District’s primary operating fund. It accounts for
all resources used to finance District maintenance and operation except those required to
be accounted for in other funds. The General Fund includes the District’s Maintenance
and Operation Fund as well as the Medicaid Reimbursement, Impact Aid, School Plant,
Auxiliary Operations, Gifts and Donations, Indirect Costs, Teacherage, Advertisement,
and Soft Capital Allocation Funds. These funds are maintained as separate funds for
accounting and budgetary purposes but do not meet the criteria for separate reporting in
the financial statements.
Title I Grants Fund – The Title I Grants Fund accounts for financial assistance received
for the purpose of improving the teaching and learning of children failing, or most at-risk
of failing to meet challenging state academic standards.
Page 32
JUNE 30, 2012
Additionally, the District reports the following fund type:
Fiduciary Funds - The Fiduciary Funds are Agency Funds which account for resources
held by the District on behalf of others. This fund type includes the Student Activities
Fund which accounts for monies raised by students to finance student clubs and
organizations held by the District as an agent. In addition, funds that account for
employee withholdings before the monies are remitted to the appropriate entities are
included in the Agency Funds.
The Agency Funds are custodial in nature and do not have a measurement focus and are
reported using the accrual basis of accounting. The Agency Funds are reported by fund
type.
D. Cash and Investments
A.R.S. require the District to deposit certain cash with the County Treasurer. That cash is
pooled for investment purposes, except for cash of the Debt Service Fund that may be
invested separately. Interest earned from investments purchased with pooled monies is
allocated to each of the District’s funds based on their average balances.
All investments are stated at fair value.
E. Investment Income
Investment income is composed of interest, dividends, and net changes in the fair value of
applicable investments. Investment income is included in other local revenue in the fund
F. Receivables and Payables
Activity between funds that is representative of lending/borrowing arrangements outstanding
at the end of the fiscal year is referred to as either “due to/from other funds” (i.e., the current
portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of
interfund loans). All other outstanding balances between funds are reported as “due to/from
other funds.”
All receivables are shown net of an allowance for uncollectibles.
Page 33
JUNE 30, 2012
G. Property Tax Calendar
Property tax levies are obtained by applying tax rates against either the primary assessed
valuation or the secondary assessed valuation. Primary and secondary valuation categories
are composed of the exact same properties. However, the primary category limits the
increase in property values to 10% from the previous year, while there is no limit to the
increase in property values for secondary valuation. Override and debt service tax rates are
applied to the secondary assessed valuation and all other tax rates are applied to the primary
assessed valuation.
The County levies real property taxes on or before the third Monday in August, which
become due and payable in two equal installments. The first installment is due on the first
day of October and becomes delinquent after the first business day of November. The
second installment is due on the first day of March of the next year and becomes delinquent
after the first business day of May. The billings are considered past due after these dates, at
which time the applicable property is subject to penalties and interest.
The County also levies various personal property taxes during the year, which are due the
second Monday of the month following receipt of the tax notice, and become delinquent 30
days thereafter.
Pursuant to A.R.S., a lien against assessed real and personal property attaches on the first day
of January preceding assessment and levy; however according to case law, an enforceable
legal claim to the asset does not arise.
H. Inventory
All inventories are valued at cost using either the first-in/first-out (FIFO) or the average cost
method. Inventories consist of expendable supplies held for consumption. Inventories are
recorded as expenses when consumed on the government-wide financial statements and as
expenditures when purchased on the fund financial statements.
The United States Department of Agriculture (USDA) commodity portion of the food
services inventory consists of food donated by the USDA. It is valued at estimated market
prices paid by the USDA.
I. Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are
recorded as prepaid items in both the government-wide and fund financial statements.
Prepaid items are recorded as expenses when consumed in the government-wide financial
statements.
Page 34
JUNE 30, 2012
J. Capital Assets
Capital assets which include land improvements, buildings and improvements, vehicles,
furniture, equipment and construction in progress, are reported in the government-wide
Capital assets are defined by the District as assets with an initial, individual cost in excess of
$5,000 and an estimated useful life of more than one year. Such assets are recorded at
historical cost, or estimated historical cost if actual historical cost is not available. Donated
capital assets are recorded at the estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or
materially extend the life of the asset are not capitalized.
Capital assets are depreciated using the straight-line method over the following estimated
useful lives:
Land improvements
20 - 30 years
10 - 50 years
7 - 15 years
K. Compensated Absences
The District’s employee vacation and sick leave policies generally provide for granting
vacation and sick leave with pay. Full-time certified employees earn 14 days of sick leave
each contract year, cumulative to 120 days. Full-time twelve-month classified contract
employees earn 16 days per year. Twelve-month administrators earn 176 hours of vacation
per year. Full-time twelve-month classified contract employees earn 120 hours of vacation
per year. Vacation must be taken no later than the year after the contract year in which it is
earned, except for 400 hours, which may be carried forward. The current and long-term
liabilities, including related benefits, for accumulated vacation and sick leave are reported on
the government-wide financial statements. A liability for these amounts is reported in
governmental funds only if they have matured, for example, as a result of employee leave,
resignations and retirements. Generally, resources from the General Fund are used to pay for
compensated absences.
Page 35
JUNE 30, 2012
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Concl’d)
L. Long-term Obligations
In the government-wide financial statements, long-term debt and other long-term obligations
are reported as liabilities on the statement of net assets. Bond premiums and discounts, as
well as issuance costs and the difference between the reacquisition price and the net carrying
amount of the old debt, are deferred and amortized over the life of the bonds using the
straight-line method over the term of the related debt.
In the fund financial statements, governmental fund types recognize bond premiums and
discounts, as well as bond issuance costs, during the current period. The face amount of debt
issued is reported as other financing sources. Premiums received on debt issuances are
reported as other financing sources while discounts on debt issuances are reported as other
financing uses. Issuance costs, whether or not withheld from the actual debt proceeds
received, are reported as debt service expenditures.
M. Interfund Activity
Flows of cash from one fund to another without a requirement for repayment are reported as
interfund transfers. Interfund transfers between governmental funds are eliminated in the
Statement of Activities. Interfund transfers in the fund financial statements are reported as
other financing sources/uses in governmental funds.
N. Estimates
The preparation of the financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make estimates
and assumptions that affect the amounts reported in the financial statements and
accompanying notes. Actual results may differ from those estimates.
NOTE 2 – FUND BALANCE CLASSIFICATIONS
Fund balances of the governmental funds are reported separately within classifications based
on a hierarchy of the constraints placed on the use of those resources. The classifications are
based on the relative strength of the constraints that control how the specific amounts can be
spent. The classifications are nonspendable, restricted, and unrestricted, which includes
committed, assigned, and unassigned fund balance classifications.
Page 36
JUNE 30, 2012
NOTE 2 – FUND BALANCE CLASSIFICATIONS (Cont’d)
Nonspendable. The nonspendable fund balance classification includes amounts that cannot
be spent because they are not in spendable form, or legally or contractually required to be
maintained intact.
Restricted. Fund balance is reported as restricted when constraints placed on the use of
resources are either externally imposed by creditors (such as through debt covenants),
grantors, contributors, or laws or regulations of other governments or is imposed by law
through constitutional provisions or enabling legislation.
Committed. The committed fund balance classification includes amounts that can be used
only for the specific purposes imposed by formal action of the Governing Board. Those
committed amounts cannot be used for any other purpose unless the Governing Board
removes or changes the specified use by taking the same type of action it employed to
previously commit those amounts. The District does not have a formal policy or procedures
for the utilization of committed fund balance. Accordingly, no committed fund balance
amounts are reported.
Assigned. Amounts in the assigned fund balance classification are intended to be used by the
District for specific purposes but do not meet the criteria to be classified as restricted or
committed. In governmental funds other than the General Fund, assigned fund balance
represents the remaining amount that is not restricted or committed. In the General Fund,
assigned amounts represent intended uses established by the Governing Board or a
management official delegated that authority by the formal Governing Board action. The
District does not have a formal policy or procedures for the utilization of assigned fund
balance. Accordingly, no assigned fund balance amounts are reported.
Unassigned. Unassigned fund balance is the residual classification for the General Fund and
includes all spendable amounts not contained in the other classifications. In other
governmental funds, the unassigned classification is used only to report a deficit balance
resulting from overspending for specific purposes for which amounts had been restricted,
committed, or assigned.
The District applies restricted resources first when expenditures are incurred for purposes for
which either restricted or unrestricted (committed, assigned, and unassigned) amounts are
available. Similarly, within unrestricted fund balance, committed amounts are reduced first
followed by assigned, and then unassigned amounts when expenditures are incurred for
purposes for which amounts in any of the unrestricted fund balance classifications could be
used.
Page 37
JUNE 30, 2012
NOTE 2 – FUND BALANCE CLASSIFICATIONS (Concl’d)
The table below provides detail of the major components of the District’s fund balance
classifications at year end.
General
Fund
Fund Balances:
Nonspendable:
Inventory
Prepaid Items
Restricted:
Capital projects
Voter approved initiatives
Federal and State projects
Food service
JTED
Other purposes
Unassigned
Total fund balances
Non-Major
Governmental
Funds
$ 1,065,564 $
568,601
3,673,315
1,148,521
568,373
535,942
146,931
660,091
29,131,148
$ 30,765,313 $
6,733,173
The July 1, 2011 fund balances of the General Fund and Non-Major Governmental Funds do
not agree to the prior year financial statements for the reclassification of certain funds. In
addition, the July 1, 2011 government-wide net assets and the fund balance of the General
Fund do not agree to the prior year financial statements due to a correction of an error. Prior
period investment losses in the County Treasurer investment pool were allocated to the
District.
Statement of
Activities
Net Assets/Fund balance,
June 30, 2011, as previously reported
Reclassification of funds
Prior period investment losses
Net Assets/Fund balance, July 1, 2011,
as restated
Page 38
$ 207,939,034
(1,883,562)
$ 206,055,472
General Fund
$ 37,168,143
(378,726)
(1,883,562)
$ 34,905,855
Non-Major
Governmental
Funds
$
8,066,942
378,726
$
8,445,668
JUNE 30, 2012
NOTE 3 - STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
Excess Expenditures Over Budget – At year end, the District had expenditures in funds that
exceeded the budgets, however this does not constitute a violation of any legal provisions.
NOTE 4 - CASH AND INVESTMENTS
A.R.S. authorize the District to invest public monies in the State Treasurer’s local
government investment pools, the County Treasurer’s investment pool, obligations of the
U.S. Government and its agencies, obligations of the State and certain local government
subdivisions, interest-bearing savings accounts and certificates of deposit, collateralized
repurchase agreements, certain obligations of U.S. corporations, and certain other securities.
The statutes do not include any requirements for credit risk, custodial credit risk,
concentration of credit risk, interest rate risk, or foreign currency risk for the District’s
investments.
Custodial Credit Risk – Deposits. Custodial credit risk is the risk that in the event of bank
failure the District’s deposits may not be returned to the District. The District does not have
a deposit policy for custodial credit risk. At year end, the carrying amount of the District’s
deposits was $517,405 and the bank balance was $556,186.
The State Treasurer’s pools are external investment pools, the Local Government Investment
Pool (Pool 5) and Local Government Investment Pool-Government (Pool 7), with no
regulatory oversight. The pools are not required to register (and are not registered) with the
Securities and Exchange Commission. The activity and performance of the pools are
reviewed monthly by the State Board of Investment. The fair value of each participant’s
position in the State Treasurer investment pools approximates the value of the participant’s
shares in the pool and the participants shares are not identified with specific investments. No
regulatory oversight is provided for the County Treasurer’s Investment Pool and that pool’s
structure does not provide for shares.
At year end, the District’s investments consisted of the following.
County Treasurer’s investment pool
Total
Page 39
Average Maturities
2.03 years
Fair Value
$
29,748,474
$ 29,748,474
JUNE 30, 2012
NOTE 4 - CASH AND INVESTMENTS (Concl’d)
Interest Rate Risk. The District does not have a formal investment policy that limits
investment maturities as a means of managing its exposure to fair value losses arising from
increasing interest rates.
Credit Risk. The District has no investment policy that would further limit its investment
choices. As of year end, the District’s investment in the County Treasurer’s investment pool
did not receive a credit quality rating from a national rating agency.
Custodial Credit Risk - Investments. The District’s investment in the County Treasurer’s
investment pool represents a proportionate interest in the pool’s portfolio; however, the
District’s portion is not identified with specific investments and is not subject to custodial
credit risk.
NOTE 5 - RECEIVABLES
Receivable balances, net of allowance for uncollectibles, have been disaggregated by type
and presented separately in the financial statements with the exception of due from
governmental entities. Due from governmental entities, net of allowance for uncollectibles,
as of year end for the District’s individual major funds and non-major governmental funds in
the aggregate, were as follows.
General
Fund
Title I
Grants
Fund
Non-Major
Governmental
Funds
Due from other governmental entities:
Due from Federal government
$
$ 772,399 $
Due from State government
7,259,959
Due from County government
485,985
Net due from governmental entities
$ 7,745,944 $ 772,399 $
637,875
162,891
15,030
815,796
Governmental funds report deferred revenue in connection with receivables for revenues that
are not considered to be available to liquidate liabilities of the current period. Governmental
funds also defer revenue recognition in connection with resources that have been received,
but not yet earned. At the end of the current fiscal year, the various components of deferred
revenue reported in the governmental funds were as follows.
Unearned
Grant drawdowns prior to meeting all eligibility
requirements (Non-Major Governmental Funds)
Total deferred revenue for governmental funds
Page 40
$
$
193,236
193,236
JUNE 30, 2012
NOTE 6 - CAPITAL ASSETS
A summary of capital asset activity for the current fiscal year follows.
Beginning
Balance
Ending
Balance
Governmental Activities
Increase
Decrease
Capital assets, not being depreciated:
Construction in progress
$
13,702,677 $ 9,351,914 $ 13,224,500 $
9,830,091
Total capital assets, not being depreciated
13,702,677
9,351,914
13,224,500
9,830,091
Capital assets, being depreciated:
Land improvements
9,221,649
2,171,311
11,392,960
181,437,002
15,580,958
197,017,960
22,793,276
1,383,538
160,426
24,016,388
Total capital assets being depreciated
213,451,927
19,135,807
160,426
232,427,308
Less accumulated depreciation for:
Land improvements
(5,365,739)
(346,738)
(5,712,477)
(42,810,542) (4,093,895)
(46,904,437)
(15,455,137) (1,538,531)
(160,426)
(16,833,242)
Total accumulated depreciation
(63,631,418) (5,979,164)
(160,426)
(69,450,156)
Total capital assets, being depreciated, net
149,820,509
13,156,643
Governmental activities capital assets, net $ 163,523,186 $ 22,508,557 $ 13,224,500
162,977,152
$ 172,807,243
Depreciation expense was charged to governmental functions as follows.
Instruction
Total depreciation expense – governmental activities
$ 3,182,788
820,513
274,439
684,257
987,794
29,373
$ 5,979,164
Construction Commitments – At year end, the District had contractual commitments
related to renovations at Tsaile Elementary, construction of employee housing, and roofing
replacements. At year end the District had spent $9.8 million on the projects and had
estimated remaining contractual commitments of $12.8 million.
Page 41
JUNE 30, 2012
NOTE 7 - CHANGES IN LONG-TERM LIABILITIES
Long-term liability activity for the current fiscal year was as follows.
Beginning
Balance
Governmental activities:
Compensated absences payable
Governmental activity long-term
liabilities
Additions
Reductions
Ending
Balance
Due Within
One Year
$
819,237 $
451,356 $
506,653 $
763,940 $
500,000
$
819,237 $
451,356 $
506,653 $
763,940 $
500,000
NOTE 8 - INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS
At year end, interfund balances were as follows.
Due to/from other funds:
Due from
General Fund
Total
Due to
Title I
Non-Major
Grants
Governmental
Fund
Funds
Total
$
635,715 $
287,093 $ 922,808
$ 635,715 $
287,093 $ 922,808
At year end, several funds had negative cash balances in the Treasurer’s pooled cash
accounts. Negative cash on deposit with the County Treasurer was reduced by interfund
borrowing with the General Fund. All interfund balances are expected to be paid within one
year.
Interfund transfers:
Transfers out
Title I Grants Fund
Non-Major Governmental Funds
Total
Transfers in
General
Fund
$
194,615
113,866
$
308,481
Transfers between funds were used to move Federal grant funds restricted for indirect costs.
Page 42
JUNE 30, 2012
NOTE 9 - CONTINGENT LIABILITIES
Compliance – Amounts received or receivable from grantor agencies are subject to audit and
adjustment by grantor agencies, principally the federal government. Any disallowed claims,
including amounts already collected, may constitute a liability of the applicable funds. The
amount, if any, of expenditures/expenses that may be disallowed by the grantor cannot be
determined at this time, although the District expects such amounts, if any, to be immaterial.
Performance Audit – The District has been selected by the State Office of the Auditor
General to have a performance audit pursuant to A.R.S. section 41-1279.03.A. for the fiscal
year ended June 30, 2012. This performance audit has not been completed, and although the
results are unknown at this time, the District expects the results to be immaterial to the
Lawsuits - The District is a defendant in various lawsuits. Although the outcome of these
lawsuits is not presently determinable, in the opinion of the District’s counsel, the resolution
of these matters will not have a material adverse effect on the financial condition of the
District.
NOTE 10 - RISK MANAGEMENT
The District is exposed to various risks of loss related to torts; theft of, damage to, and
destruction of assets; errors and omissions; injuries to employees; and natural disasters.
The District was unable to obtain general property and liability insurance at a cost it
considered to be economically justifiable. Therefore, the District joined the Arizona School
Risk Retention Trust, Inc. (ASRRT). ASRRT is a public entity risk pool currently operating
as a common risk management and insurance program for school districts and community
colleges in the State. The District pays an annual premium to ASRRT for its general
insurance coverage. The agreement provides that ASRRT will be self-sustaining through
member premiums and will reinsure through commercial companies for claims in excess of
specified amounts.
The District’s employees have health and accident insurance coverage with the Rural Schools
of Northern Arizona Trust (RSNA). RSNA is a public entity risk pool currently operating as
a common risk management and insurance program for six member school districts. The
District pays a monthly premium to RSNA for employees’ health and accident insurance
coverage. The agreement provides that RSNA will be self-sustaining through member
premiums and will reinsure through commercial companies for claims in excess of specified
amounts.
Page 43
JUNE 30, 2012
NOTE 10 - RISK MANAGEMENT (Concl’d)
The District continues to carry commercial insurance for all other risks of loss, including
workers’ compensation. Settled claims resulting from these risks have not exceeded
commercial insurance coverage in any of the past three fiscal years.
NOTE 11 - PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS
The District contributes to the Arizona State Retirement System (ASRS). The ASRS
administers a cost-sharing, multiple-employer defined benefit pension plan; a cost-sharing,
multiple-employer defined health insurance premium plan; and a cost-sharing, multipleemployer defined benefit long-term disability plan that covers employees of the State of
Arizona and employees of participating political subdivisions and school districts. The
ASRS is governed by the Arizona State Retirement System Board according to the
provisions of A.R.S. Title 38, Chapter 5, Article 2.
Plan Description – Benefits are established by state statute and the plan generally provides
retirement, long-term disability, and health insurance premium benefits, including death and
survivor benefits. The retirement benefits are generally paid at a percentage, based on years
of service, of the retirees’ average compensation. Long-term disability benefits vary by
circumstance, but generally pay a percentage of the employee’s monthly compensation.
Health insurance premium benefits are paid as a fixed dollar amount per month towards the
retiree’s healthcare insurance premiums, in amounts based on whether the benefit is for the
retiree or for the retiree and his or her dependents.
The ASRS issues a comprehensive annual financial report that includes financial statements
and required supplementary information. The most recent report may be obtained by writing
the ASRS, 3300 North Central Avenue, P.O. Box 33910, Phoenix, Arizona 85067-3910 or by
calling (602) 240-2000 or (800) 621-3778. The report is also available on the ASRS’ website
at www.azasrs.gov.
Funding Policy – The Arizona State Legislature establishes and may amend active plan
members’ and the District’s contribution rates. For the current fiscal year, active ASRS
members were required by statute to contribute at the actuarially determined rate of 10.74
percent (10.50 percent for retirement and 0.24 percent for long-term disability) of the
members’ annual covered payroll and the District was required by statute to contribute at the
actuarially determined rate of 10.74 percent (9.87 percent for retirement, 0.63 percent for
health insurance premium, and 0.24 percent for long-term disability) of the members’ annual
covered payroll.
Page 44
JUNE 30, 2012
NOTE 11 - PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS (Concl’d)
The District’s contributions for the current and two preceding years, all of which were equal
to the required contributions, were as follows.
Retirement
Fund
Years ended June 30,
2012
2011
2010
Page 45
$
2,252,381
2,019,007
1,777,862
Health
Benefit
Supplement
Fund
Long-Term
Disability
Fund
$
$
143,769
132,210
140,694
54,769
56,021
85,269
Page 46
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
Page 47
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL
Budgeted Amounts
Original
Revenues:
Other local
Total revenues
$
1,100,000
18,263,598
19,363,598
Non-GAAP
Actual
Final
$
1,100,000
18,263,598
19,363,598
$
1,411,818
18,263,598
19,675,416
Variance with
Final Budget
Positive
(Negative)
$
311,818
311,818
Expenditures:
Current Instruction
Total expenditures
9,025,582
938,301
1,639,081
5,749,723
3,184,966
20,000
20,557,653
8,817,862
945,978
1,639,081
5,749,723
3,323,945
20,000
20,496,589
7,280,842
1,037,531
2,170,230
5,684,110
3,317,739
35,000
19,525,452
1,537,020
(91,553)
(531,149)
65,613
6,206
(15,000)
971,137
(1,194,055)
(1,132,991)
149,964
1,282,955
1,155,208
1,155,208
(18,041)
(1,173,249)
568,601
(3,188)
568,601
(3,188)
Fund balances (deficits), beginning of year, as
restated
Increase (decrease) in reserve for prepaid items
Increase (decrease) in reserve for inventory
Fund balances (deficits), end of year
$
(38,847)
$
22,217
See accompanying notes to this schedule.
Page 48
$
697,336
$
675,119
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
TITLE I GRANTS
Budgeted
Amounts
Original & Final
Revenues:
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
8,085,785
8,085,785
Actual
$
8,085,785
8,085,785
Transfers out
4,474,862
4,474,862
Variance with
Final Budget
Positive
(Negative)
$
2,402,880
1,526,574
175,505
79,157
96,131
4,280,247
5,682,905
(1,526,574)
(175,505)
(79,157)
(96,131)
3,805,538
194,615
194,615
(194,615)
(194,615)
(194,615)
(194,615)
Fund balances, beginning of year
$
$
See accompanying notes to this schedule.
Page 49
(3,610,923)
(3,610,923)
$
NOTE TO REQUIRED SUPPLEMENTARY INFORMATION
JUNE 30, 2012
NOTE 1 - BUDGETARY BASIS OF ACCOUNTING
The adopted budget of the District is prepared on a basis consistent with accounting
principles generally accepted in the United States of America with the following exceptions:
1) a portion of the General Fund activity is budgeted for separately as special revenue and
capital projects funds, and 2) a portion of the fiscal year 2011-12 insurance payments were
budgeted for in fiscal year 2010-11. Consequently, the following adjustments were
necessary to present actual expenditures, fund balance at July 1, 2011, and fund balance at
June 30, 2012 on a budgetary basis in order to provide a meaningful comparison.
Total
Expenditures
Statement of Revenues, Expenditures and
Changes in Fund Balances –
Governmental Funds
Fiscal year 2011-12 activity budgeted as
special revenue funds
Fiscal year 2011-12 activity budgeted as
capital projects funds
Fiscal year 2011-12 insurance payments
budgeted in 2010-11
Schedule of Revenues, Expenditures and
Changes in Fund Balances – Budget and
Actual – General Fund
Page 50
Fund Balance,
June 30, 2012
Fund Balance,
July 1, 2011
(as restated)
$ 47,226,876 $
30,765,313
$
(26,520,743)
(27,841,777)
(32,342,677)
(647,617)
(2,226,200)
(2,048,155)
(533,064)
$ 19,525,452 $
34,905,855
(533,064)
697,336
$
(18,041)
COMBINING AND INDIVIDUAL
FUND FINANCIAL STATEMENTS
AND SCHEDULES
Page 51
Page 52
GOVERNMENTAL FUNDS
Page 53
COMBINING BALANCE SHEET - ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE
JUNE 30, 2012
ASSETS
Total assets
Liabilities:
Accounts payable
Due to other funds
Deferred revenues
Total liabilities
Special Revenue
Capital Projects
Total NonMajor
Governmental
Fund
$
3,605,662
742,272
4,347,934
$
3,705,047
73,524
3,778,571
$
784,499
23,248
287,093
193,236
1,288,076
$
13,111
92,145
$
$
$
Fund balances:
Restricted
Total fund balances
Page 54
$
3,059,858
3,059,858
$
4,347,934
$
$
7,310,709
815,796
8,126,505
105,256
797,610
115,393
287,093
193,236
1,393,332
3,673,315
3,673,315
6,733,173
6,733,173
3,778,571
$
8,126,505
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE
Revenues:
Other local
Total revenues
Special Revenue
Capital Projects
Total NonMajor
Governmental
Funds
$
$
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Transfers out
399
$
1,435,915
1,317,846
6,198,854
8,952,615
642
2,267,633
1,465,365
8,559,592
1,928,486
1,991,652
3,186,394
1,529,056
149,222
11,212
13,876
2,267,633
3,393,851
10,551,244
174,586
(1,773,215)
(1,598,629)
38,321
11,212
13,234
(113,866)
(113,866)
Page 55
75,965
142,472
218,437
3,185,995
1,529,056
110,901
1,359,950
1,317,846
6,056,382
8,734,178
(113,866)
(113,866)
60,720
(1,773,215)
(1,712,495)
2,999,138
5,446,530
8,445,668
3,059,858
$
3,673,315
$
6,733,173
SPECIAL REVENUE FUNDS
Classroom Site - to account for the financial activity for the portion of state sales tax collections
and permanent state school fund earnings as approved by the voters in 2000.
Instructional Improvement - to account for the activity of monies received from gaming
revenue.
County, City and Town Grants - to account for monies received from county, city and town
grants.
Professional Development and Technology Grants - to account for financial assistance
received to increase student academic achievement through improving teacher quality.
Title IV Grants - to account for financial assistance received for chemical abuse awareness
programs and expanding projects that benefit educational and health needs of the communities.
Promote Informed Parent Choice - to account for financial assistance received to promote
parent choices in the education of their students.
Limited English & Immigrant Students - to account for financial assistance received for
educational services and costs for limited English and immigrant children.
Indian Education - to account for financial assistance received for Indian education at
preschool, elementary, secondary and adult levels.
Flexibility and Accountability - to account for financial assistance received to promote
flexibility and accountability in education.
Special Education Grants - to account for supplemental financial assistance received to provide
a free, appropriate public education to disabled children.
Johnson-O’Malley - to account for financial assistance received to meet the unique educational
needs of eligible Indian children.
Vocational Education - to account for financial assistance received for preparation of
individuals for employment or advancement in a career not requiring a baccalaureate or
advanced degree.
Medicaid Reimbursement - to account for reimbursements related to specific health services
provided to eligible students.
Impact Aid - to account for the activity of monies received from impact aid.
E-Rate - to account for financial assistance received for broadband internet and
telecommunication costs.
Page 56
Other Federal Projects - to account for financial assistance received for other supplemental
federal projects.
State Vocational Education - to account for financial assistance received for the preparation of
individuals for employment.
Chemical Abuse Prevention Programs - to account for financial assistance received for
chemical abuse awareness programs.
Gifted - to account for financial assistance received for programs for gifted students.
Environmental Special Plate – to account for the proceeds received from the sale of
environmental license plates.
Other State Projects - to account for financial assistance received for other State projects.
School Plant - to account for proceeds from the sale or lease of school property.
Food Service - to account for the financial activity of school activities that have as their purpose
the preparation and serving of regular and incidental meals and snacks in connection with school
functions.
Civic Center - to account for monies received from the rental of school facilities for civic
activities.
Community School - to account for activity related to academic and skill development for all
citizens.
Auxiliary Operations - to account for activity arising from bookstore, athletic and
miscellaneous District related operations.
Extracurricular Activities Fees Tax Credit - to account for activity related to monies collected
in support of extracurricular activities to be taken as a tax credit by the tax payer in accordance
with A.R.S. §43-1089.01.
Gifts and Donations - to account for activity related to gifts, donations, bequests and private
grants made to the District.
Fingerprint - to account for activity of fingerprinting employees as mandated by the State.
Textbooks - to account for monies received from students to replace or repair lost or damaged
textbooks.
Indirect Costs - to account for monies transferred from Federal projects for administrative costs.
Page 57
(Continued)
SPECIAL REVENUE FUNDS
(Concluded)
Teacherage - to account for the operations of District housing facilities provided for employees
of the District exclusively on Indian and Federal lands.
Insurance Refund - to account for insurance premium payments that are refunded to the
District.
Advertisement - to account for monies received from the sale of advertising.
Joint Technical Education - to account for monies received from Joint Technical Education
Districts for vocational education programs.
Page 58
Page 59
COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2012
Classroom Site
ASSETS
Total assets
Liabilities:
Accounts payable
Due to other funds
Deferred revenues
Total liabilities
$
Page 60
County, City,
and Town
Grants
$
572,115
$
24,872
$
424,113
162,891
587,004
$
572,115
$
24,872
$
10,598
$
$
10,598
Fund balances:
Restricted
Total fund balances
Instructional
Improvement
576,406
576,406
$
587,004
572,115
572,115
$
572,115
24,872
24,872
$
24,872
Professional
Development
and Technology
Grants
Limited English
& Immigrant
Students
$
$
21,337
161,065
Special
Education
Grants
Indian
Education
$
16,107
$
$
$
21,337
$
161,065
$
16,107
$
55,753
55,753
$
13,007
$
30,255
$
2,634
$
17,894
8,330
21,337
$
21,337
130,810
161,065
$
161,065
13,473
16,107
$
16,107
$
Johnson
O'Malley
Vocational
Education
$
$
144,250
144,250
$
33,015
33,015
$
4,242
$
6,716
37,859
140,008
26,299
55,753
144,250
33,015
55,753
$
144,250
$
(Continued)
Page 61
33,015
JUNE 30, 2012
E-Rate
ASSETS
Total assets
Liabilities:
Accounts payable
Due to other funds
Deferred revenues
Total liabilities
$
519,847
$
$
519,847
$
Page 62
State Vocational
Education
$
4
$
5,973
131,453
137,426
$
4
$
5,973
$
82,927
4
4
88,900
Fund balances:
Restricted
Total fund balances
Other Federal
Projects
519,847
519,847
$
519,847
48,526
48,526
$
137,426
$
4
Environmental
Special Plate
Gifted
Other State
Projects
Food Service
$
49
$
7,011
$
163,507
$
$
49
$
7,011
$
163,507
$
106,700
23,248
$
$
49
49
7,011
7,011
$
527
$
206,776
$
481,887
214,910
696,797
$
527
$
206,776
$
160,855
$
$
2,928
33,559
163,507
160,855
2,928
535,942
535,942
$
49
$
7,011
$
163,507
Community
School
Civic Center
$
696,797
527
527
$
527
203,848
203,848
$
206,776
(Continued)
Page 63
JUNE 30, 2012
Extracurricular
Activities Fees
Tax Credit
ASSETS
Total assets
Liabilities:
Accounts payable
Due to other funds
Deferred revenues
Total liabilities
Page 64
Textbooks
$
20,394
$
1,785
$
72,364
$
20,394
$
1,785
$
72,364
$
Fund balances:
Restricted
Total fund balances
Fingerprint
$
20,394
20,394
$
20,394
$
1,785
1,785
$
1,785
72,364
72,364
$
72,364
Insurance
Refund
Joint Technical
Education
Totals
$
736,301
$
169,628
$
$
736,301
$
169,628
$
$
400,000
$
22,697
$
$
3,605,662
742,272
4,347,934
400,000
22,697
784,499
23,248
287,093
193,236
1,288,076
336,301
336,301
146,931
146,931
3,059,858
3,059,858
736,301
Page 65
$
169,628
$
4,347,934
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NON-MAJOR SPECIAL REVENUE FUNDS
Classroom Site
Revenues:
Other local
Total revenues
$
4,609
990,352
Instructional
Improvement
$
1,229
85,329
County, City,
and Town
Grants
$
249,667
994,961
86,558
249,667
708,815
63,399
49,350
51,593
168,867
444
772,214
49,350
1,846
222,750
222,747
37,208
26,917
222,747
37,208
26,917
Fund balances (deficits), beginning of year
353,659
534,907
(2,045)
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Transfers out
Page 66
$
576,406
$
572,115
$
24,872
Professional
Development
and Technology
Grants
Limited English
& Immigrant
Students
$
$
387,774
387,774
362,181
8,313
Indian
Education
$
Special
Education
Grants
Flexibility and
Accountability
$
$
Johnson
O'Malley
$
107,993
107,993
706,815
706,815
17,747
17,747
769,330
769,330
225,152
225,152
93,291
9,903
460,645
170,220
36,855
17,139
404,591
314,562
140,819
40,443
33,754
370,494
103,194
8,046
675,766
17,139
16,815
735,968
215,016
17,280
4,799
31,049
608
33,362
10,136
(17,280)
(17,280)
(4,799)
(4,799)
(31,049)
(31,049)
(608)
(608)
(33,362)
(33,362)
(10,136)
(10,136)
$
$
$
$
$
$
(Continued)
Page 67
Vocational
Education
Revenues:
Other local
Total revenues
$
E-Rate
$
145,671
145,671
Expenditures:
Current Instruction
Capital outlay
Total expenditures
1,782,350
1,783,369
348,984
220,460
2,694
642
39,844
140,838
1,150,264
1,723,044
1,127
60,325
(4,833)
(4,833)
(11,799)
(11,799)
1,127
Page 68
1,019
58,684
42,310
$
1,127
4,833
Transfers out
1,127
Other Federal
Projects
48,526
518,720
$
$
519,847
$
48,526
State Vocational
Education
$
Other State
Projects
$
Food Service
$
44,320
197,845
44,320
197,845
38,016
6,304
19,245
8,519
7,900
44,320
162,181
197,845
362,335
Community
School
Civic Center
$
1,913,550
2,275,885
2
$
2
$
$
307,335
992
992
114,108
3,060
3,267
2,067,456
$
307,335
Extracurricular
Activities Fees
Tax Credit
200,177
86,369
406,981
2,067,456
$
208,429
2
(99,646)
992
208,429
2
(99,646)
992
327,513
525
303,494
19,402
535,942
$
527
$
203,848
$
20,394
(Continued)
Page 69
Fingerprint
Revenues:
Other local
Total revenues
$
533
$
533
1,917
$
68,077
1,917
68,077
80
400,000
80
400,000
533
1,837
(331,923)
533
1,837
(331,923)
1,252
70,527
668,224
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Insurance
Refund
Textbooks
Transfers out
Page 70
$
1,785
$
72,364
$
336,301
Joint Technical
Education
$
361,108
Totals
$
361,108
280,635
125,132
11,370
1,359,950
1,317,846
6,056,382
8,734,178
417,137
3,185,995
1,529,056
110,901
642
2,267,633
1,465,365
8,559,592
(56,029)
174,586
(113,866)
(113,866)
$
(56,029)
60,720
202,960
2,999,138
146,931
Page 71
$
3,059,858
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS
Classroom Site
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
Actual
910,085
$
4,609
990,352
$
4,609
80,267
910,085
994,961
84,876
2,437,402
78,510
708,815
63,399
1,728,587
15,111
2,515,912
772,214
1,743,698
(1,605,827)
222,747
1,828,574
(1,605,827)
222,747
1,828,574
238,957
353,659
114,702
Transfers in
Transfers out
Page 72
$
(1,366,870)
$
576,406
$
1,943,276
Instructional Improvement
Budget
$
$
County, City, and Town Grants
Variance Positive
(Negative)
Actual
85,000
$
1,229
85,329
$
1,229
329
85,000
86,558
1,558
425,000
49,350
375,650
Budget
$
350,000
Variance Positive
(Negative)
Actual
$
249,667
$
(100,333)
350,000
249,667
(100,333)
250,000
51,593
168,867
444
(51,593)
81,133
(444)
425,000
49,350
375,650
250,000
1,846
222,750
(1,846)
27,250
(340,000)
37,208
377,208
100,000
26,917
(73,083)
(340,000)
37,208
377,208
100,000
26,917
(73,083)
534,938
534,907
(31)
1,938
(2,045)
(3,983)
194,938
$
572,115
$
377,177
$
101,938
$
24,872
$
(77,066)
(Continued)
Page 73
Professional Development and Technology Grants
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
Actual
$
$
1,229,097
1,229,097
387,774
387,774
(841,323)
(841,323)
1,229,097
362,181
8,313
866,916
(8,313)
1,229,097
370,494
858,603
17,280
17,280
(17,280)
(17,280)
(17,280)
(17,280)
Transfers in
Transfers out
Page 74
$
$
$
Title IV Grants
Budget
$
Promote Informed Parent Choice
Variance Positive
(Negative)
Actual
$
$
Budget
$
Variance Positive
(Negative)
Actual
$
$
380,000
380,000
(380,000)
(380,000)
70,029
70,029
(70,029)
(70,029)
380,000
380,000
70,029
70,029
380,000
380,000
70,029
70,029
$
$
$
$
$
$
(Continued)
Page 75
Limited English & Immigrant Students
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
Actual
$
$
320,000
320,000
107,993
107,993
(212,007)
(212,007)
320,000
93,291
9,903
226,709
(9,903)
320,000
103,194
216,806
4,799
4,799
(4,799)
(4,799)
(4,799)
(4,799)
Transfers in
Transfers out
Page 76
$
$
$
Indian Education
Budget
$
Flexibility and Accountability
Variance Positive
(Negative)
Actual
$
$
Budget
$
Variance Positive
(Negative)
Actual
$
$
700,000
700,000
706,815
706,815
6,815
6,815
17,747
17,747
17,747
17,747
700,000
460,645
170,220
36,855
239,355
(170,220)
(36,855)
17,139
(17,139)
8,046
675,766
(8,046)
24,234
17,139
(17,139)
31,049
31,049
608
608
(31,049)
(31,049)
(31,049)
(31,049)
(608)
(608)
(608)
(608)
700,000
$
$
$
$
$
$
(Continued)
Page 77
Special Education Grants
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
Actual
$
$
800,000
800,000
769,330
769,330
(30,670)
(30,670)
800,000
404,591
314,562
395,409
(314,562)
16,815
735,968
(16,815)
64,032
33,362
33,362
(33,362)
(33,362)
(33,362)
(33,362)
800,000
Transfers in
Transfers out
Page 78
$
$
$
Johnson O'Malley
Budget
$
Vocational Education
Variance Positive
(Negative)
Actual
$
$
Budget
$
Variance Positive
(Negative)
Actual
$
$
338,334
338,334
225,152
225,152
(113,182)
(113,182)
350,000
350,000
145,671
145,671
(204,329)
(204,329)
338,334
140,819
40,443
33,754
197,515
(40,443)
(33,754)
350,000
58,684
42,310
291,316
(42,310)
338,334
215,016
123,318
350,000
39,844
140,838
(39,844)
209,162
10,136
10,136
4,833
4,833
(10,136)
(10,136)
(10,136)
(10,136)
(4,833)
(4,833)
(4,833)
(4,833)
$
$
$
$
$
$
(Continued)
Page 79
Medicaid Reimbursement
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
Non-GAAP
Actual
$
848
$
848
300,000
300,000
11,948
12,796
(288,052)
(287,204)
300,000
20,557
114,281
1,804
(20,557)
185,719
(1,804)
300,000
136,642
163,358
(123,846)
(123,846)
(123,846)
(123,846)
164,948
164,948
Transfers in
Transfers out
Page 80
$
$
41,102
$
41,102
Impact Aid
$
46,642,764
46,642,764
46,642,764
46,642,764
$
Variance Positive
(Negative)
Non-GAAP
Actual
Budget
$
E-Rate
$
55,163
$
55,163
21,054,081
21,109,244
(25,588,683)
(25,533,520)
7,928,053
1,519,934
1,380,703
344,628
218,795
(7,928,053)
(1,519,934)
(1,380,703)
(344,628)
(218,795)
11,149,204
22,541,317
35,493,560
24,101,447
(1,432,073)
Budget
$
Variance Positive
(Negative)
Actual
$
1,127
$
1,127
1,127
1,127
(1,432,073)
1,127
1,127
(1,432,073)
(1,432,073)
1,127
1,127
26,297,150
26,297,150
518,720
518,720
24,865,077
$
24,865,077
$
$
519,847
$
519,847
(Continued)
Page 81
Other Federal Projects
Budget
Revenues:
Other local
Total revenues
$
Actual
$
500,000
500,000
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
500,000
500,000
Transfers in
Transfers out
1,019
$
1,019
1,782,350
1,783,369
1,282,350
1,283,369
348,984
220,460
2,694
(348,984)
(220,460)
(2,694)
642
(642)
1,150,264
1,723,044
(650,264)
(1,223,044)
60,325
60,325
(11,799)
(11,799)
(11,799)
(11,799)
48,526
48,526
Page 82
$
$
48,526
$
48,526
State Vocational Education
Budget
$
Variance Positive
(Negative)
Actual
$
$
Budget
$
Variance Positive
(Negative)
Actual
$
$
50,000
44,320
(5,680)
3,000
(3,000)
50,000
44,320
(5,680)
3,000
(3,000)
50,000
38,016
11,984
3,000
3,000
6,304
(6,304)
44,320
5,680
3,000
3,000
50,000
$
Chemical Abuse Prevention Programs
$
$
$
$
$
(Continued)
Page 83
Environmental Special Plate
Budget
Revenues:
Other local
Total revenues
Actual
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
$
$
500
(500)
500
(500)
500
500
500
500
Transfers in
Transfers out
Page 84
$
$
$
Other State Projects
Budget
$
School Plant
Variance Positive
(Negative)
Actual
$
$
197,845
(127,155)
325,000
197,845
(127,155)
19,245
8,519
7,900
(19,245)
(8,519)
(7,900)
162,181
197,845
162,819
127,155
325,000
325,000
$
$
$
Budget
$
325,000
Variance Positive
(Negative)
Non-GAAP
Actual
$
54,541
$
54,541
$
54,541
54,541
300,000
300,000
300,000
300,000
(300,000)
54,541
354,541
(300,000)
54,541
354,541
(300,000)
$
54,541
$
354,541
(Continued)
Page 85
Food Service
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
398,015
Variance Positive
(Negative)
Actual
$
362,335
$
(35,680)
2,101,985
2,500,000
1,913,550
2,275,885
(188,435)
(224,115)
3,000,000
2,067,456
932,544
3,000,000
2,067,456
932,544
(500,000)
208,429
708,429
(500,000)
208,429
708,429
167,765
327,513
159,748
Transfers in
Transfers out
Page 86
$
(332,235)
$
535,942
$
868,177
Civic Center
Budget
Community School
Variance Positive
(Negative)
Actual
$
$
2
$
2
Budget
2
$
2
275,000
Actual
$
275,000
$
525
$
32,335
32,335
114,108
3,060
3,267
(114,108)
(3,060)
(3,267)
350,000
200,177
86,369
406,981
149,823
(86,369)
(56,981)
2
2
(75,000)
(99,646)
(24,646)
2
2
(75,000)
(99,646)
(24,646)
295,715
303,494
7,779
525
$
307,335
307,335
350,000
525
Variance Positive
(Negative)
527
$
2
$
220,715
$
203,848
$
(16,867)
(Continued)
Page 87
Auxiliary Operations
Budget
Revenues:
Other local
Total revenues
$
275,000
Variance Positive
(Negative)
Non-GAAP
Actual
$
178,946
$
(96,054)
275,000
178,946
(96,054)
250,000
60,761
136,869
470
(60,761)
113,131
(470)
250,000
198,100
51,900
25,000
(19,154)
(44,154)
25,000
(19,154)
(44,154)
47,156
90,903
43,747
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Transfers in
Transfers out
Page 88
$
72,156
$
71,749
$
(407)
Extracurricular Activities Fees Tax Credit
Budget
$
1,000
Variance Positive
(Negative)
Actual
$
1,000
Gifts and Donations
992
$
992
Budget
(8)
$
12,000
Variance Positive
(Negative)
Non-GAAP
Actual
$
14,611
$
2,611
(8)
12,000
14,611
2,611
15,000
15,000
30,000
15,258
14,742
15,000
15,000
30,000
15,258
14,742
(14,000)
992
14,992
(18,000)
(647)
17,353
(14,000)
992
14,992
(18,000)
(647)
17,353
19,402
19,402
65,196
65,196
$
5,402
$
20,394
$
14,992
$
47,196
$
64,549
$
17,353
(Continued)
Page 89
Fingerprint
Budget
Revenues:
Other local
Total revenues
$
Variance Positive
(Negative)
Actual
500
$
533
$
33
500
533
33
500
533
33
500
533
33
1,252
1,252
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Transfers in
Transfers out
Page 90
$
1,752
$
1,785
$
33
Textbooks
Budget
$
$
2,000
Indirect Costs
Variance Positive
(Negative)
Actual
$
1,917
$
(83)
2,000
1,917
(83)
115,000
80
114,920
Budget
$
Variance Positive
(Negative)
Non-GAAP
Actual
$
4,523
$
4,523
4,523
4,523
750,000
543
193,162
137,970
(543)
556,838
(137,970)
115,000
80
114,920
750,000
331,675
418,325
(113,000)
1,837
114,837
(750,000)
(327,152)
422,848
310,000
308,481
(1,519)
310,000
308,481
(1,519)
(440,000)
(18,671)
421,329
500,153
496,027
(4,126)
(113,000)
1,837
70,527
70,527
(42,473)
$
72,364
114,837
$
114,837
$
60,153
$
477,356
$
417,203
(Continued)
Page 91
Teacherage
Budget
Revenues:
Other local
Total revenues
$
338,000
$
338,000
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Variance Positive
(Negative)
Non-GAAP
Actual
336,670
$
(1,330)
336,670
(1,330)
506,750
(506,750)
5,300,000
5,300,000
2,791,001
3,297,751
2,508,999
2,002,249
(4,962,000)
(2,961,081)
2,000,919
(4,962,000)
(2,961,081)
2,000,919
5,214,368
5,214,094
(274)
Transfers in
Transfers out
Page 92
$
252,368
$
2,253,013
$
2,000,645
Insurance Refund
Budget
$
65,000
Advertisement
Variance Positive
(Negative)
Actual
$
68,077
$
3,077
Budget
$
Variance Positive
(Negative)
Non-GAAP
Actual
$
$
68,077
400,000
400,000
14,500
14,500
400,000
400,000
14,500
14,500
(335,000)
(331,923)
3,077
(14,500)
31
14,531
(335,000)
(331,923)
3,077
(14,500)
31
14,531
394,514
668,224
273,710
14,359
14,359
59,514
$
336,301
$
276,787
31
31
65,000
$
3,077
31
$
(14,500)
$
14,390
31
$
28,890
(Continued)
Page 93
Joint Technical Education
Budget
Revenues:
Other local
Total revenues
$
350,000
Variance Positive
(Negative)
Actual
$
361,108
$
11,108
350,000
361,108
11,108
250,000
280,635
125,132
11,370
(30,635)
(125,132)
(11,370)
250,000
417,137
(167,137)
100,000
(56,029)
(156,029)
100,000
(56,029)
(156,029)
204,610
202,960
(1,650)
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Transfers in
Transfers out
Page 94
$
304,610
$
146,931
$
(157,679)
Totals
Budget
$
2,066,515
1,373,585
53,732,209
57,172,309
$
6,698,765
2,107,607
750,000
$
Variance Positive
(Negative)
Non-GAAP
Actual
2,005,283
1,317,846
27,122,411
30,445,540
$
(61,232)
(55,739)
(26,609,798)
(26,726,769)
3,650,000
52,767,764
65,974,136
11,210,624
3,300,683
1,687,040
989,348
219,437
2,267,633
15,405,570
35,080,335
(4,511,859)
(1,193,076)
(937,040)
(989,348)
(219,437)
1,382,367
37,362,194
30,893,801
(8,801,827)
(4,634,795)
4,167,032
310,000
310,000
308,481
(113,866)
194,615
(1,519)
(113,866)
(115,385)
(8,491,827)
(4,440,180)
4,051,647
7,757,016
35,341,815
27,584,799
(734,811)
Page 95
$
30,901,635
$
31,636,446
Page 96
CAPITAL PROJECTS FUNDS
Insurance Proceeds - to account for the monies received from insurance claims.
Litigation Recovery - to account for monies received for and derived from litigation.
Unrestricted Capital Outlay - to account for transactions relating to the acquisition of capital
items.
Soft Capital Allocation - to account for transactions relating to the acquisition of short-term
capital items required to meet academic adequacy standards.
Gifts and Donations - Capital - to account for gifts and donations to be expended for capital
acquisitions.
Building Renewal - to account for monies received from the School Facilities Board that are
used for infrastructure or for major upgrades, repairs, or renovations to areas, systems or
buildings that will maintain or extend their useful life.
Federal Impact Aid - Construction – to account for Federal Impact Aid monies received for
new facilities, major upgrades, repairs or renovations.
Page 97
COMBINING BALANCE SHEET - NON-MAJOR CAPITAL PROJECTS FUNDS
JUNE 30, 2012
Insurance
Proceeds
ASSETS
Total assets
Liabilities:
Accounts payable
Total liabilities
Page 98
Unrestricted
Capital Outlay
$
246,453
$
379,549
$
$
246,453
$
379,549
$
$
9,391
$
$
9,391
Fund balances:
Restricted
Total fund balances
Litigation
Recovery
237,062
237,062
$
246,453
379,549
379,549
$
379,549
1,440,165
15,030
1,455,195
3,720
87,895
91,615
1,363,580
1,363,580
$
1,455,195
Gifts and
Donations Capital
Building
Renewal
Federal Impact
Aid Construction
$
982
$
1,559,786
$
$
982
$
1,559,786
$
$
$
78,112
58,494
136,606
$
Totals
$
$
$
4,250
4,250
982
982
$
Page 99
982
1,555,536
1,555,536
$
1,559,786
136,606
136,606
$
136,606
3,705,047
73,524
3,778,571
13,111
92,145
105,256
3,673,315
3,673,315
$
3,778,571
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NON-MAJOR CAPITAL PROJECTS FUNDS
Insurance
Proceeds
Revenues:
Other local
Total revenues
$
1,186
Litigation
Recovery
$
1,186
Expenditures:
Current Instruction
Capital outlay
Total expenditures
823
Unrestricted
Capital Outlay
$
823
60,314
60,314
399
38,321
9,390
13,234
1,822
1,067,814
1,070,035
60,945
(59,759)
823
(1,009,721)
296,821
378,726
2,373,301
Page 100
$
237,062
$
379,549
$
1,363,580
Gifts and
Donations Capital
$
Building
Renewal
2
$
2
$
Page 101
13,343
Federal Impact
Aid Construction
$
13,343
297
142,472
142,769
Totals
$
75,965
142,472
218,437
757,705
757,705
102,967
102,967
399
38,321
11,212
13,234
1,928,486
1,991,652
2
(744,362)
39,802
(1,773,215)
980
2,299,898
96,804
5,446,530
982
$
1,555,536
$
136,606
$
3,673,315
NON-MAJOR CAPITAL PROJECTS FUNDS
Insurance Proceeds
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Page 102
$
25,000
Variance Positive
(Negative)
Actual
$
1,186
$
(23,814)
25,000
1,186
(23,814)
450,000
38,321
9,390
13,234
411,679
(9,390)
(13,234)
450,000
60,945
389,055
(425,000)
(59,759)
365,241
570,531
296,821
(273,710)
145,531
$
237,062
$
91,531
Litigation Recovery
Budget
$
1,000
Unrestricted Capital Outlay
Variance Positive
(Negative)
Actual
$
1,000
823
$
823
$
823
378,726
378,726
(20,274)
$
379,549
$
(177)
400,000
400,000
(399,000)
(177)
Budget
$
65,000
Variance Positive
(Negative)
Actual
$
65,000
60,314
$
(4,686)
60,314
(4,686)
399
(399)
1,822
(1,822)
400,000
400,000
2,336,044
2,336,044
1,067,814
1,070,035
1,268,230
1,266,009
399,823
(2,271,044)
(1,009,721)
1,261,323
2,373,301
2,373,301
399,823
$
102,257
$
1,363,580
$
1,261,323
(Continued)
Page 103
Soft Capital Allocation
Budget
Revenues:
Other local
Total revenues
$
102,000
760,983
Variance Positive
(Negative)
Non-GAAP
Actual
$
64,679
760,983
$
(37,321)
862,983
825,662
(37,321)
1,160,196
337,670
15,166
82,134
822,526
(15,166)
(82,134)
212,647
(212,647)
1,160,196
647,617
512,579
(297,213)
178,045
475,258
2,048,155
2,048,155
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Page 104
$
1,750,942
$
2,226,200
$
475,258
Gifts and Donations - Capital
Budget
$
Building Renewal
Variance Positive
(Negative)
Actual
10
$
10
2
$
2
50,000
50,000
$
(49,990)
2
980
980
(49,010)
$
982
$
Budget
(8)
$
15,000
Variance Positive
(Negative)
Actual
$
13,343
$
(1,657)
(8)
15,000
13,343
(1,657)
50,000
50,000
2,299,898
2,299,898
757,705
757,705
1,542,193
1,542,193
49,992
(2,284,898)
(744,362)
1,540,536
2,299,898
2,299,898
49,992
$
15,000
$
1,555,536
$
1,540,536
(Continued)
Page 105
Federal Impact Aid - Construction
Budget
Revenues:
Other local
Total revenues
$
Expenditures:
Current Instruction
Capital outlay
Total expenditures
Actual
$
Page 106
$
297
$
297
142,472
142,769
142,472
142,769
250,000
250,000
102,967
102,967
147,033
147,033
(250,000)
39,802
289,802
96,804
96,804
Variance Positive
(Negative)
(250,000)
$
136,606
$
386,606
Totals
Budget
$
208,010
760,983
$
968,993
1,160,196
140,644
760,983
142,472
1,044,099
$
(67,366)
142,472
75,106
5,335,942
6,946,138
338,069
15,166
120,455
11,212
225,881
1,928,486
2,639,269
822,127
(15,166)
329,545
(11,212)
(225,881)
3,407,456
4,306,869
(5,977,145)
(1,595,170)
4,381,975
7,671,591
7,494,685
(176,906)
450,000
$
Variance Positive
(Negative)
Non-GAAP
Actual
1,694,446
Page 107
$
5,899,515
$
4,205,069
Page 108
AGENCY FUNDS
Student Activities - to account for monies raised by students to finance student clubs and
organizations but held by the District as an agent.
Employee Withholding - to account for voluntary deductions and employee payroll checks
temporarily held by the District as an agent.
Page 109
COMBINING STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES
ALL AGENCY FUNDS
Beginning
Balance
STUDENT ACTIVITIES
Assets
Additions
Ending
Balance
Deductions
$
147,929
$
132,798
$
107,122
$
173,605
$
147,929
$
132,798
$
107,122
$
173,605
Liabilities
$
147,929
$
132,798
$
107,122
$
173,605
Total liabilities
$
147,929
$
132,798
$
107,122
$
173,605
-
$
10,398,684
$
10,398,684
$
-
$
-
$
10,398,684
$
10,398,684
$
-
Liabilities
Deposits held for others
$
-
$
10,398,684
$
10,398,684
$
-
Total liabilities
$
-
$
10,398,684
$
10,398,684
$
-
Total assets
EMPLOYEE WITHHOLDING FUND
Assets
$
Total assets
TOTAL AGENCY FUNDS
Assets
$
147,929
$
10,531,482
$
10,505,806
$
173,605
Total assets
$
147,929
$
10,531,482
$
10,505,806
$
173,605
Liabilities
Deposits held for others
$
147,929
$
10,398,684
132,798
$
10,398,684
107,122
$
173,605
Total liabilities
$
147,929
$
10,531,482
$
10,505,806
$
173,605
Page 110
STATISTICAL SECTION
The statistical section presents financial statement trends as well as detailed financial and
operational information not available elsewhere in the report. The statistical section is intended
to enhance the reader’s understanding of the information presented in the financial statements,
notes to the financial statements, and other supplementary information presented in this report.
The statistical section is comprised of the five categories of statistical information presented
below.
Financial Trends
These schedules contain information on financial trends to help the reader understand how
the District’s financial position and financial activities have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess the factors affecting the
District’s ability to generate revenue. The District does not levy property taxes.
Debt Capacity
These schedules present information to help the reader evaluate the District’s current levels
of outstanding debt as well as assess the District’s ability to make debt payments and/or
issue additional debt in the future.
Demographic and Economic Information
These schedules present various demographic and economic indicators to help the reader
understand the environment in which the District’s financial activities take place and to
help make comparisons with other school districts.
Operating Information
These schedules contain information about the District’s operations and various resources
to help the reader draw conclusions as to how the District’s financial information relates to
the services provided by the District.
Page 111
NET ASSETS BY COMPONENT
LAST TEN FISCAL YEARS
(Accrual basis of accounting)
2012
Net Assets:
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total net assets
$
$
172,807,243
6,733,173
30,001,373
209,541,789
2011
$
$
2007
Net Assets:
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total net assets
$
$
141,348,009
20,431,196
20,032,138
181,811,343
Source: The source of this information is the District's financial records.
Page 112
Fiscal Year Ended June 30
2010
163,523,186
8,722,745
33,809,541
206,055,472
$
$
2006
$
$
133,443,313
16,148,067
22,167,446
171,758,826
147,881,620
19,751,026
34,827,625
202,460,271
$
$
2005
$
$
117,316,671
26,189,001
22,752,793
166,258,465
2009
147,752,133
18,241,681
26,654,980
192,648,794
2008
$
$
2004
$
$
105,245,351
32,454,559
21,999,802
159,699,712
144,244,837
16,895,024
27,369,828
188,509,689
2003
$
$
89,115,967
35,403,806
15,847,000
140,366,773
EXPENSES, PROGRAM REVENUES, AND NET (EXPENSE)/REVENUE
2012
Expenses
Instruction
Interest on long-term debt
Total expenses
$
Program Revenues
Charges for services:
Instruction
Other activities
Total program revenues
Net (Expense)/Revenue
$
25,762,502
6,977,301
4,616,883
7,396,311
5,025,258
2,375,345
2011
$
2010
26,528,313
8,087,710
4,616,439
7,161,299
4,547,360
2,376,988
$
23,294,495
7,236,247
4,614,791
7,093,742
4,347,555
3,271,181
$
2009
26,059,970
7,626,073
5,147,106
7,079,354
4,989,415
1,915,604
2008
$
25,709,468
7,879,424
4,251,787
7,168,780
4,469,202
2,470,314
52,153,600
53,318,109
49,858,011
52,817,522
51,948,975
1,104,771
540,490
381,340
9,564,176
1,615,753
13,206,530
1,039,460
30,095
275,309
12,949,827
380,041
14,674,732
1,445,339
406,924
39,945
11,272,090
245,483
13,409,781
1,180,760
490,311
13,936
9,703,806
419,963
11,808,776
893,081
487,644
396,672
9,301,224
168,958
11,247,579
(38,947,070)
$
(38,643,377)
$
(36,448,230)
$
(41,008,746)
$
(40,701,396)
Note: The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 34 were adopted in fiscal year 2001 therefore
only six years are shown.
(Continued)
Page 113
EXPENSES, PROGRAM REVENUES, AND NET (EXPENSE)/REVENUE
2007
Expenses
Instruction
Interest on long-term debt
Total expenses
$
Program Revenues
Charges for services:
Instruction
Other activities
Total program revenues
$
23,883,750
6,857,386
4,205,238
6,646,869
3,909,179
2,472,082
2006
51,744,493
45,687,807
464,385
893,400
611,692
10,200,768
1,919,558
14,089,803
879,457
495,193
794,895
11,522,816
907,143
14,599,504
331,120
427,021
642,762
8,258,209
910,097
10,569,209
166,818
577,371
693,569
7,760,121
374,069
9,571,948
375,346
736,404
25,472
7,247,827
3,978,333
12,363,382
(33,401,450)
$(31,317,491)
(37,144,989)
$
$
24,696,438
5,814,638
3,439,956
5,579,496
3,753,375
2,403,904
(35,118,598)
$
2003
47,974,504
$
27,754,626
6,710,373
3,954,825
7,220,285
3,919,381
2,185,003
2004
23,032,089
5,438,937
3,197,895
5,658,572
3,322,950
2,315,705
7,250
42,973,398
(33,884,701)
$
2005
$
$ 24,152,802
5,184,210
3,052,896
5,752,495
3,247,747
2,266,260
24,463
43,680,873
(Concluded)
Page 114
GENERAL REVENUES AND TOTAL CHANGES IN NET ASSETS
2012
$
General Revenues:
Taxes:
Property taxes, levied for general purposes
Property taxes, levied for debt service
Property taxes, levied for capital outlay
Investment income
Changes in Net Assets
(38,947,070)
2011
$
234,068
1,033,028
20,100,262
21,066,029
42,433,387
$
3,486,317
2010
(38,643,377)
$
555,253
740,321
20,014,552
22,812,014
44,122,140
$
5,478,763
(36,448,230)
2009
$
1,068,163
496,342
18,786,249
25,908,953
46,259,707
$
9,811,477
(41,008,746)
2008
$ (40,701,396)
2,247,298
1,919,784
1,785
24,733,965
20,744,208
47,399,742
20,514,156
22,386,397
45,147,851
$
4,139,105
$
6,698,346
Note: The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 34 were adopted in fiscal year 2001 therefore
only six years are shown.
(Continued)
Page 115
GENERAL REVENUES AND TOTAL CHANGES IN NET ASSETS
2007
$
General Revenues:
Taxes:
Property taxes, levied for general purposes
Property taxes, levied for debt service
Property taxes, levied for capital outlay
Investment income
Changes in Net Assets
(33,884,701)
2006
$
10,052,517
(37,144,989)
$
53,330
405
16,219
527,584
542,575
21,645,119
19,860,118
42,645,350
1,612,667
18,639
22,678,252
19,627,660
43,937,218
$
2005
$
5,500,361
(35,118,598)
2004
$
77,231
46
6,715
609,776
542,064
20,156,625
20,284,894
41,677,351
$
6,558,753
(33,401,450)
2003
$ (31,317,491)
165,548
133,989
14,395
528,300
461,560
31,354,767
20,075,830
52,734,389
$
19,332,939
80,863
207,747
7,032
(278,379)
419,319
25,553,011
18,561,843
44,551,436
$
13,233,945
Note: The Arizona State Legislature suspended county equalization payments to school districts for fiscal years 2006-07 through 2008-09.
(Concluded)
Page 116
FUND BALANCES - GOVERNMENTAL FUNDS
(Modified accrual basis of accounting)
2012
General Fund:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Reserved
Unreserved
Total General Fund
All Other Governmental Funds:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Reserved
Unreserved, reported in:
Special revenue funds
Capital projects funds
Debt service fund
Total all other governmental funds
$
1,634,165
2011
$
29,131,148
2010
2009
2008
1,068,752
33,837,103
$
$
30,765,313
$
34,905,855
$
6,733,173
$
8,447,713
$
1,548,740
23,679,056
25,227,796
$
$
$
1,002,398
16,158,050
17,160,448
$
922,585
16,015,304
16,937,889
$
118,045
$
148,171
$
9,946,050
18,233,022
8,659
28,305,776
$
10,533,882
16,886,394
8,360
27,576,807
(2,045)
$
$
6,733,173
$
8,445,668
$
10,416,864
19,742,178
8,848
30,167,890
(Continued)
Page 117
FUND BALANCES - GOVERNMENTAL FUNDS
2007
General Fund:
Reserved
Unreserved
Total General Fund
All Other Governmental Funds:
Reserved
Unreserved, reported in:
Special revenue funds
Capital projects funds
Debt service fund
Total all other governmental funds
$
2006
$
$
1,443,520
13,038,443
14,481,963
$
132,126
$
5,841,763
19,966,352
7,937
25,948,178
2005
$
$
1,038,356
12,818,611
13,856,967
$
69,459
$
6,036,012
16,140,526
7,541
22,253,538
2004
$
$
1,322,653
13,710,420
15,033,073
$
54,459
$
4,943,448
26,181,960
7,041
31,186,908
2003
$
$
1,571,211
16,525,339
18,096,550
$
1,530,884
11,181,440
12,712,324
$
70,124
$
69,901
$
4,123,437
32,448,407
6,152
36,648,120
$
3,391,445
35,486,910
(22,137)
38,926,119
Note: The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 54 were adopted in fiscal year 2011. The
standard replaces the previous reserved and unreserved fund balance categories with the following five fund balance classifications:
nonspendable, restricted, committed, assigned, and unassigned fund balance.
(Concluded)
Page 118
GOVERNMENTAL FUNDS REVENUES
2012
Federal sources:
Federal grants
Impact Aid
National School Lunch Program
Total federal sources
State sources:
State equalization assistance
State grants
School Facilities Board
Other revenues
Total state sources
Local sources:
Property taxes
County aid
Food service sales
Investment income
Other revenues
Total local sources
Total revenues
$
$
8,629,642
21,196,553
1,913,550
31,739,745
2011
$
2010
11,366,975
22,526,302
1,939,131
35,832,408
$
11,957,176
23,149,114
2,173,785
37,280,075
2009
$
8,568,868
22,386,397
1,260,005
32,215,270
2008
$
7,198,780
20,744,208
1,748,798
29,691,786
19,024,581
242,165
18,985,864
72,604
17,933,121
133,060
19,250,753
277,059
1,075,681
20,342,427
1,028,688
20,087,156
1,065,145
19,131,326
1,263,403
20,791,215
21,986,833
346,813
1,034,180
2,169,859
25,537,685
1,033,028
361,541
234,068
1,929,108
3,557,745
55,639,917
740,321
245,544
555,253
1,336,190
2,877,308
58,796,872
496,342
260,509
1,068,163
1,645,090
3,470,104
59,881,505
295,063
2,247,298
1,389,944
3,932,305
56,938,790
1,785
304,605
1,919,784
1,472,792
3,698,966
58,928,437
$
$
$
$
(Continued)
Page 119
GOVERNMENTAL FUNDS REVENUES
2007
Federal sources:
Federal grants
Impact aid
National School Lunch Program
Total federal sources
State sources:
State equalization assistance
State grants
School Facilities Board
Other revenues
Total state sources
Local sources:
Property taxes
County aid
Food service sales
Investment income
Other revenues
Total local sources
Total revenues
$
10,498,552
19,627,660
1,793,447
31,919,659
2006
$
20,689,525
275,374
$
9,632,507
19,860,118
1,667,999
31,160,624
2005
$
7,242,697
20,284,894
1,707,952
29,235,543
2004
$
6,666,778
19,619,398
1,740,816
28,026,992
2003
$
9,460,255
18,561,843
1,607,678
29,629,776
1,531,820
22,496,719
19,258,463
269,065
395,456
1,991,200
21,914,184
17,777,823
202,385
1,172,214
1,380,606
20,533,028
21,238,635
250,519
8,886,858
1,129,448
31,505,460
19,301,987
126,723
5,081,145
1,168,913
25,678,768
18,639
363,893
1,612,667
1,605,584
3,600,783
58,017,161
69,954
542,575
373,738
527,584
1,795,807
3,309,658
56,384,466
83,992
542,064
325,948
609,776
1,074,955
2,636,735
52,405,306
313,932
461,560
360,732
528,300
1,077,026
2,741,550
62,274,002
295,642
419,319
325,101
(278,379)
827,537
1,589,220
56,897,764
$
$
$
$
Note: The Arizona State Legislature suspended county equalization payments to school districts for fiscal years 2006-07 through 2008-09.
(Concluded)
Page 120
GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO
2012
Expenditures:
Current Instruction
Capital outlay
Debt service Principal retirement
Interest, premium and fiscal charges
Total expenditures
Debt service as a percentage of
noncapital expenditures
2011
2010
2009
2008
$
21,232,415
5,879,954
4,153,230
7,217,734
3,842,214
2,302,633
17,430,187
$
21,188,007
6,869,327
3,971,182
6,023,825
3,375,917
2,283,739
24,765,488
$
19,274,183
6,202,408
3,889,015
7,100,098
3,246,882
3,156,612
7,510,602
$
20,958,013
6,552,546
3,949,940
6,554,868
3,224,531
1,852,785
12,944,266
$
20,391,697
6,935,252
3,472,751
6,263,253
3,342,943
2,464,144
11,468,952
$
62,058,367
$
68,477,485
$
50,379,800
$
56,036,949
$
54,338,992
$
15,263,221
$
21,382,259
$
5,993,817
$
9,116,549
$
9,005,615
0%
0%
0%
0%
0%
Notes:
(Continued)
Page 121
GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO
2007
2006
2005
Expenditures:
Current Instruction
Capital outlay
Debt service Principal retirement
Interest, premium and fiscal charges
Total expenditures
$
54,165,356
$
66,224,645
$
60,665,772
$
9,781,537
$
19,417,551
$
19,852,537
Debt service as a percentage of
noncapital expenditures
$
20,104,678
6,755,172
3,576,670
6,724,061
3,131,400
2,489,086
11,384,289
0%
$
19,307,233
6,490,543
3,374,601
6,621,443
2,953,990
2,106,071
25,370,764
0%
$
18,436,250
5,671,312
2,788,458
4,986,792
2,923,795
2,327,662
23,531,503
0%
$
2004
2003
18,027,945
5,358,443
2,715,783
5,321,751
2,634,590
2,300,246
22,742,317
$
17,478,822
5,113,923
2,825,397
5,958,469
2,500,604
2,271,554
17,108,878
$
100,000
7,250
59,208,325
$
265,000
24,463
53,547,110
$
20,241,392
$
14,310,077
0%
1%
(Concluded)
Page 122
OTHER FINANCING SOURCES AND USES AND NET CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
2012
Excess (deficiency) of
revenues over expenditures
$
Transfers in
Transfers out
Total other financing sources (uses)
(6,418,450)
2011
$
308,481
(308,481)
$
(6,418,450)
$
Transfers in
Transfers out
Total other financing sources (uses)
3,851,805
$
3,851,805
$
(9,680,613)
(9,840,179)
$
(9,840,179)
9,501,705
2009
$
7,442,128
(7,442,128)
$
9,501,705
$
(8,260,466)
$
(8,260,466)
$
901,841
$
3,065,677
$
3,065,677
4,589,445
2003
$
10,961,474
(10,961,474)
$
4,589,445
10,397,129
(10,397,129)
2004
8,228,521
(8,228,521)
$
901,841
2008
12,368,284
(12,368,284)
2005
12,799,053
(12,799,053)
Page 123
$
2006
11,996,405
(11,996,405)
$
(9,680,613)
550,441
(550,441)
2007
Excess (deficiency) of
revenues over expenditures
2010
3,350,654
11,195,626
(11,195,626)
$
3,350,654
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Fiscal
Year
Ended
June 30
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
Real Property
Residential
Commercial
Property
Property
$
118,454
140,602
152,836
$
77,843
81,919
93,153
Less:
Tax Exempt
Real Property
Personal
Property
$
2,774,178
2,916,967
3,106,812
$
134,031
165,590
187,003
Total Taxable
Assessed
Valuation
$
2,836,444
2,973,898
3,165,798
3,555,549
3,697,005
3,640,028
3,630,894
3,450,796
3,636,478
3,848,000
Source: The source of this information is the State and County Abstract of the Assessment Roll, Arizona Department of Revenue.
Note: Total taxable assessed valuation is displayed by major component beginning with fiscal year ended June 30, 2010.
Page 124
Total
Direct
Rate
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.81
6.31
Estimated
Actual
Value
$
15,444,627
15,686,431
16,073,665
15,942,754
15,911,121
15,249,511
14,889,664
14,164,193
14,910,952
15,718,238
Ratio of
Net Assessed
to Estimated
Actual Value
18.37
18.96
19.70
22.30
23.24
23.87
24.39
24.36
24.39
24.48
DIRECT AND OVERLAPPING PROPERTY TAX RATES
Overlapping Rates
Fiscal
Year
Ended
State
June 30 Equalization
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
0.43
0.36
0.33
County
2.69
2.61
2.60
2.37
2.42
2.19
2.79
2.51
2.26
2.08
Fire
District
0.07
0.08
0.08
0.09
0.09
0.08
0.06
0.00
0.06
0.00
Flood
Control
District
Library
District
Primary
Secondary
0.12
0.02
0.02
0.07
0.09
0.10
0.10
0.10
0.00
0.00
0.38
0.40
0.44
0.42
0.50
0.36
0.30
0.25
0.24
0.19
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.81
6.31
District Direct Rates
Total
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.81
6.31
Source: The source of this information is the Property Tax Rates and Assessed Values, Arizona Tax Research Foundation.
Page 125
PRINCIPAL PROPERTY TAXPAYERS
CURRENT FISCAL YEAR AND FISCAL YEAR NINE YEARS PRIOR
2012
Secondary
Assessed
Valuation
Taxpayer
Navajo Communications Company
Arizona Public Service Company
Total Rental Care, Inc.
Coca-Cola Bottling of Northern Arizona
Giant Corners, Inc.
White Dove, Inc.
Basha's #33
All Others
Total
$
$
1,344,475
1,145,923
110,621
56,729
51,056
42,547
39,710
45,383
2,836,444
2003
Percentage of
District's Net
Assessed
Valuation
47.4 %
40.4
3.9
2.0
1.8
1.5
1.4
1.6
100.0 %
Source: The source of this information is the Apache County Assessor's records.
Page 126
Secondary
Assessed
Valuation
$
$
1,823,952
1,554,592
150,072
76,960
69,264
57,720
53,872
61,568
3,848,000
Percentage of
District's Net
Assessed
Valuation
47.4 %
40.4
3.9
2.0
1.8
1.5
1.4
1.6
100.0 %
PROPERTY TAX LEVIES AND COLLECTIONS
Collected within the
Fiscal Year of the Levy
Fiscal
Year
Ended
June 30
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
Taxes Levied
for the
Fiscal Year
$
-0-0-0-0-0-0-0-0117,150
185,825
Amount
$
-0-0-0-0-0-0-0-0117,150
185,825
Percentage
of Levy
N/A % $
N/A
N/A
N/A
N/A
N/A
N/A
N/A
100.00
100.00
Collected to the End
of the Current Fiscal Year
Collections in
Subsequent
Fiscal Years
-0-0-0-0-0-0-0-0-0-0-
Amount
$
-0-0-0-0-0-0-0-0117,150
185,825
Source: The source of this information is the Apache County Treasurer's records.
Notes: 1) Amounts collected are on a cash basis.
2) Unsecured personal property taxes are not included in this schedule because the dates of the monthly rolls
vary each year. On the average, 90% of unsecured property taxes are collected within 90 days after the due
date.
3) N/A indicates that there were no tax levies during that year.
Page 127
Percentage
of Levy
N/A %
N/A
N/A
N/A
N/A
N/A
N/A
N/A
100.00
100.00
OUTSTANDING DEBT BY TYPE
Fiscal
Year
Ended
June 30
2012 $
2011
2010
2009
2008
2007
2006
2005
2004
2003
General
Obligation
Bonds
-0$
-0-0-0-0-0-0-0100,000
365,000
General Obligation Bonds
Less:
Amounts
Percentage of
Restricted for
Estimated
Principal
Total
Actual Value
-0$
-0-0-0-0-0-0-0100,000
265,000
-0-0-0-0-0-0-0-0-0100,000
-0- %
-0-0-0-0-0-0-0-00.64
Page 128
Per
Capita
$
-0-0-0-0-0-0-0-0-01
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
JUNE 30, 2012
Debt
Outstanding
Governmental Unit
Apache County
Subtotal, Overlapping Debt
$
3,980,000
Estimated
Percentage
Applicable to
School District
0.85 %
Estimated
Amount
Applicable to
School District
$
Direct:
Total Direct and Overlapping Debt
33,830
33,830
-0$
33,830
Source: The source of this information is the District's records and the State and County Abstract of the Assessment Roll,
Arizona Department of Revenue and the applicable governmental unit.
Notes: 1) Estimated percentage of debt outstanding applicable to the District is calculated based on the District's
secondary assessed valuation as a percentage of the secondary assessed valuation of the overlapping jurisdiction.
2) Outstanding debt as of June 30, 2011 is presented for the overlapping governments as this is the most recent
available information.
Page 129
LEGAL DEBT MARGIN INFORMATION
Class B Bond Legal Debt Margin Calculation for Fiscal Year 2012:
Secondary assessed valuation
$ 2,836,444
Debt limit (10% of assessed value)
283,644
Debt applicable to limit
-0Legal debt margin
$
283,644
Total Legal Debt Margin Calculation for Fiscal Year 2012:
Secondary assessed valuation
$ 2,836,444
Debt limit (30% of assessed value)
850,933
Debt applicable to limit
-0Legal debt margin
$
850,933
2012
Total Debt limit
$
850,933
Total net debt applicable to limit
Legal debt margin
2011
$
850,933
Total net debt applicable to the limit
as a percentage of debt limit
$
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to the limit
as a percentage of debt limit
892,169
-0-
$
$
1,092,008
$
-0-
949,739
$
1,089,268
$
-0-
1,066,665
-0$
1,035,239
-0-
1,109,102
-0-
2004
1,035,239
1,109,102
-0-
$
-0$
$
-0-
2005
1,089,268
2008
1,066,665
-0-
-0$
$
2009
-0-
2006
1,092,008
949,739
-0-
-0$
$
-0-
2007
Debt limit
892,169
-0$
2010
2003
1,090,943
$
-0$
1,090,943
-0-
1,154,400
100,000
$
1,054,400
9%
Notes: 1) The District’s general obligation bonds are subject to two limits; the Constitutional debt limit (total debt limit) on all general obligation
bonds and the statutory debt limit on Class B bonds. The calculations of the debt margins are presented in detail for the current fiscal
year only.
2) Bond premium is not subject to the statutory debt limit.
Page 130
COUNTY-WIDE DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN CALENDAR YEARS
Year
Population
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
71,991
71,685
72,024
72,030
71,901
71,456
71,243
69,738
69,165
69,073
Personal
Income
(thousands)
$
1,869,162
1,761,037
1,643,675
1,441,307
1,377,644
1,297,112
1,206,457
1,130,902
1,072,771
1,047,472
Per Capita
Income
$
26,093
24,947
23,643
20,689
19,826
18,637
17,524
16,476
16,457
14,802
Unemployment
Rate
18.9
17.1
15.7
11.3
8.5
9.8
10.5
11.4
11.8
10.9
%
Estimated
District
Population
45,254
44,367
43,518
42,664
41,828
41,008
40,204
39,416
23,887
22,780
Sources: The source of the "Personal Income" and "Per Capita" information is the Bureau of Economic Analysis.
The source of the "Population" and "Unemployment Rate" information is the Arizona Office of Employment and
Population Statistics.
Page 131
PRINCIPAL EMPLOYERS
CURRENT FISCAL YEAR AND FISCAL YEAR NINE YEARS PRIOR
2003
2012
Employer
Chinle Indian Hospital
State of Arizona
Navajo Nation Governments
Bureau of Indian Affairs
Dine' College
Bashas
Navajo Tribal Utilitiy Authority
Thunderbird Lodge
Canyon De Chelly Motel, Inc.
Holiday Inn
Total
Total employment
Employees
922
621
545
520
520
225
85
70
45
22
30
3,605
21,503
Percentage
of Total
Employment
4.29
2.89
2.53
2.42
2.42
1.05
0.40
0.33
0.21
0.10
0.14
16.78
Employees
%
%
Percentage
of Total
Employment
450
700
545
520
520
225
100
70
60
35
40
3,265
21,081
Source: The source of this information is District records and the Navajo Nation Economic Development Department.
Page 132
2.13 %
3.32
2.59
2.47
2.47
1.07
0.47
0.33
0.28
0.17
0.19
15.49 %
FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE
Full-time Equivalent Employees as of June 30
2011
2010
2009
2012
Supervisory (Certified)
Superintendent, Principals, and
other administrators
Total supervisory
Instruction
Teachers
Aides
Total instruction
Support and Administration
Managers, Supervisors, Directors
and other Support Staff
Total support staff
Total
2008
22
22
14
14
15
15
15
15
15
15
247
49
296
251
51
302
282
69
351
294
76
370
294
76
370
214
214
219
219
205
205
245
245
245
245
532
535
571
630
630
(Continued)
Page 133
FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE
2007
Supervisory
Principals
Other administrators
Total supervisory
Instruction
Teachers
Aides
Total instruction
Support and Administration
Food Service workers
Other classified
Total support and administration
Total
2006
2005
2004
2003
19
19
19
19
19
19
19
19
20
20
267
104
371
277
104
381
277
104
381
282
104
386
305
104
409
273
273
268
268
266
266
266
266
272
272
663
668
666
671
701
Source: The source of this information is District personnel records.
(Concluded)
Page 134
OPERATING STATISTICS
Fiscal
Year
Ended
June 30
Average
Daily
Membership
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
3,530
3,629
3,664
3,542
3,489
3,625
3,733
3,703
3,847
4,002
Operating
Expenditures
$
44,628,180
43,711,997
42,869,198
43,092,683
42,870,040
42,781,067
40,853,881
37,134,269
36,358,758
36,148,769
Cost
per
Pupil
$ 12,643
12,045
11,700
12,166
12,287
11,802
10,944
10,028
9,451
9,033
Percentage
Change
4.96 %
2.95
(3.83)
(0.98)
4.11
7.84
9.13
6.10
4.63
6.37
Expenses
$
52,153,600
53,318,109
49,858,011
52,817,522
51,948,975
47,974,504
51,744,493
45,687,807
42,973,398
43,680,873
Notes: 1) Operating expenditures are total expenditures less debt service and capital outlay.
2) N/A indicates that the information is not available.
Page 135
Cost
per
Pupil
$ 14,774
14,692
13,608
14,912
14,889
13,234
13,861
12,338
11,171
10,915
Percentage
Change
0.56 %
7.97
(8.75)
0.15
12.51
(4.52)
12.35
10.45
2.34
N/A
Teaching
Staff
PupilTeacher
Ratio
296
302
351
370
370
371
381
381
386
409
11.9
12.0
10.4
9.6
9.4
9.8
9.8
9.7
10.0
9.8
Percentage of
Free/Reduced
Students
81.6
81.5
81.5
76.5
80.7
80.7
81.6
80.0
80.0
84.0
%
CAPITAL ASSETS INFORMATION
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
Schools
Elementary
Buildings
Square feet
Capacity
Enrollment
SF/Student
14
351,019
3,000
2,048
171
14
351,019
3,000
2,048
171
14
351,019
3,000
2,048
171
14
351,019
3,000
2,048
171
14
351,019
3,000
2,048
171
14
351,019
3,000
2,048
171
14
351,019
3,000
2,002
175
14
351,019
3,000
2,043
172
14
351,019
3,000
2,192
160
17
290,523
2,600
2,322
125
Middle
Buildings
Square feet
Capacity
Enrollment
SF/Student
6
138,479
900
467
296
6
138,479
900
467
296
6
115,521
900
467
247
6
115,521
900
467
247
6
115,521
900
467
247
6
115,521
900
467
247
6
115,521
900
643
180
6
115,521
900
708
163
6
115,521
900
700
165
6
115,521
900
706
164
High
Buildings
Square feet
Capacity
Enrollment
SF/Student
16
378,153
1,300
1,200
339
16
378,153
1,300
1,200
339
15
376,663
1,300
1,200
339
15
376,663
1,300
1,200
339
15
376,663
1,300
1,110
339
15
376,663
1,300
1,110
339
15
376,663
1,300
1,088
346
13
227,243
1,400
1,098
207
18
272,512
1,400
1,129
241
17
256,568
1,400
1,176
218
Other
Buildings
Square feet
9
65,331
9
65,331
9
65,331
9
65,331
9
65,331
9
65,331
9
65,331
9
65,331
16
75,895
16
75,895
Administrative
Buildings
Square feet
8
53,554
8
53,554
7
48,319
7
48,319
7
48,319
7
48,319
6
19,797
6
19,797
6
19,797
6
19,797
Transportation
Garages
Buses
Square feet
2
80
29,120
2
80
29,120
2
80
29,120
2
80
29,120
2
80
29,120
2
80
29,120
2
80
29,120
2
80
29,120
2
80
29,120
2
79
29,120
4
4
2
8
1
6
4
4
2
8
1
6
3
3
2
6
1
6
3
3
2
6
1
6
3
3
2
6
1
6
3
3
2
6
1
6
3
2
2
6
1
6
3
2
2
6
0
6
3
2
2
6
0
6
3
2
2
6
0
6
Athletics
Football fields
Soccer fields
Running tracks
Baseball/softball
Swimming pools
Playgrounds
Source: The source of this information is the District's facilities records.
Page 136

chinle unified school district no. 24

Transcription

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