COACHELLA VALLEY COMMUNITY COLLEGE DISTRICT PALM DESERT, CALIFORNIA I I. i I REPORT ON EXAMINATION JUNE 30, 1978 I I I I

Transcription

1 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT PALM DESERT, CALFORNA i REPORT ON EXAMNATON JUNE 30, 978

2 N D E X Organization and Operation Page General Financial nformation 2 Accountant's Report 3 EXHBT A Statement of Fund Balances, June 30, EXHBT B General Fund - Statement of Fund Transactions, For the Year Ended June 30, Schedule B- Schedule B-2 EXHBT C EXHBT D EXHBT E EXHB'l' F EXHBT G EXHB'f H EXHBT General Fund - Statement of Actual Revenue Compared to Budget, For the Year Ended June 30, 978 General Fund - Statement of Actual Expenditures Compared to Budget, For the Year Ended June 30, 978 Building Fund - Statement of Fund Transactions, For the Year Ended June 30, 978 Bond nterest and Redemption Fund - Statement of.fund Transactions, For the Year Ended June 30, 978 Gifts and Bequests Trust Fund - Statement of Fund Transactions, For the Year Ended June 30, 978 Federal Loans -and Grants - Statement of Fund Transactions, For the Year Ended June 30, 978 Special Reserve Fund #96 - Statement of Fund Transactions, For the Year Ended June 30, 978 Plant Fund - Statement of Fund Transactions, For the Year Ended June 30, 978 Schedule of Long-T~rm Liabilities, June 30, EXHBT J Associated Student Body, Balance Sheet, June 30, EXHBT K EXHBT L EXHBT M ASCOD - Student Activities, Statement of Operations, For the Year Ended June 30, Associated Student Body - Cafeteria Fund, Statement of Operations, For the Year Ended June 30, 978 Associated Student Body - Student Store Fund, Statement of Opera_tions, For the Year Ended June 30, Notes to Financial Statements 9-22

3 ORGANZATON AND OPERA'fON The Coachella Valley Community College District is located in the Coachella Valley in Riverside County, California and also includes a part of San Bernardino County as well as a small portion of mperial County in the Salton Sea Area. The District is comprised of the territory of Palm Springs Unified School District, Coachella Valley Unified School District, Desert Sands Unified School District, Desert Center Unified School Dis~rict and Morongo Unified School District. The District was officially formed July, 958. Educational facilities of the Coachella Valley Community College District are located on a 60-acre campus site in Palm Desert, California and inelude eleven buildings containing over 25,000 square feet. The District leases facilities in 29 Palms and Coachella, California. The community college operates under the name College of the Desert, and had an average daily attendance of 4, during the year. The Board of Trustees are: Term Name Title Expires Raymond R. Rummonds Chairman 979 Virnita McDonald Vice~Chairman 98 John W. McFadden Clerk 98 Susan Marx Member 979 Mrs. Helen K. Staley Member 979 ()

4 GENERAL FNANCAL NFORMATON JUNE 30, 978 ''he assessed valuation of the property wi thj.n the District is: Riverside County San Bernardino County mperial County Secured $644,459,039 99,746,500 _--,9:::""-086 7, 935 $754,073,474 Unsecured $05,694,334 3,03, ,730 $08,956,684 The tax rate in effect for the year was: General Purpose Tax Bond interest and redemption Secured $ $0.92 Unsecured $ $0.974 By law, the unsecured rate is the secured rate for the prior year, which had been set by the Board of Trustees. (2)

5 LUND & GUTTRY CERTFED PUBLC ACCOUNTANTS 45 SOUTH PALM CANYON DRVE MERRLl. LYNCU nuldng P. O. BOX 274 PALM SPRNGS, CALF (74) Board of Trustees Coachella Valley Community College District Palm Desert, California We have examined the Statement of_fund Balances of- Coachella Valley Community College District and the- Balance Sheet of Associated Student Body as of June 30, 978, and the related Statements of Fund Transactions and Statements of Operations for the year then ended. Our examination was made ill accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other-auditing procedures as we considered necessary in the circumstances. n our opinion, the accompanying Statement of Fund Balances and Balance Sheet present fairly the funds' position of Coachella Valley Community College District and Associated Student Body at June 30, 978 and the results of operations for the year then ended in conformity with generally accepted accounting principles applied on a consistent basis. The supplementary data included in Schedules B- and B-2 have been subjected to the same auditing procedures and, in our opinion, are stated fairly in all material respects when considered in conjunction with the basic financial statements taken as a whole.! : ~Cf LJ 4 October 5, 978 (3)

6 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT STATEMENT OF FUND BALANCES JUNE 30, 978 Total General Fund ASSETS Cash held by county treasurer Cash in bank Cash collected awaiting deposit Revolving cash funds Accounts receivable Note receivable nvestment - at donated valu.e Unapportioned taxes in county treasury Delinquent taxes receivable (Note 4) Reserve for delinquent taxes Fixed asse'ts - at cost (Noto ) (Note 3) $ 2,288,88 306,958 4,484 4,500 33,68 0,86 0,000.4,382 82,97 (82,97) 3,48,029 $,790,325.4,484 4,500 28,632 05,937 69,43 (69,43) OTHER DEBTS Amount to be provided for bond p'x'incipal retirement (Note 5) 5,00,000 $2,400,525. ~043, 878 LABLTES Accounts payable. ' Bonds payable (Note 5) $ 308,022 $ 286,353 5,00,000 FUND BALANCES Available for Restricted' to Fund balance:' general purposes speci~l purposes,757,525 86,949 3,48,029,757,525 ;',.!fr2.,400,525!fr2.,043.,_87& (The accompanying notes are an integral part of these financial statements) (4)

7 EXHBT A Bond Gifts nterest and Federal Special and Bequests Loans Reserve Building Redemption Trust and Fund Plant Long-term Fund Fund Fund Grants #96 Fund Liabili ties $ 4,942 $492,574 $ $ $ 347 $ $ 56,279 50,679 4,536-0,86 '- 0,000. '., 8,445 ' 3,'504 ' (3; 504) 3,48,029-., - "- <.; - ',- 5,00,000.$ 4.9.'2,.$.QQL09 -.$..77,09(2 $ _. _... - $ 347 $3.48,029.$JL $,392 $ $ $ 2,277 $ $ $ 5,00,,000. ~. : \ ~ 4,550 50,09 77,095 33, ,48,029 $ -, - 4:.,}~"l~ $50 L 09 $77,095 $55.25 $ 347 $ :j;5,0q, , -: \; (4),..

8 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT GENERAL FUND S''A''EMEN'r OF FUND ''RANSAC'l'ONS FOR THE YEAR ENDED JUNE 30, 978 D.fi~J..LU.L... JJ Budget Actual (Over) Under Budget BALANCE, July, 977 $ 46~920 $,365,662 $(,38,742) REVENUE Federal State County Local ncoming.transfers and other 503,000,394,530 40,000 7,35, , ,372 2,034,750 52,955 7,354,982 27,49.7 (30,372) (640,220) (2,955) (3,237).20,:(95. Total - Schedule B- EXPENDTURES Salaries and employee benefits Boolm, supplies, and equipment replacement Contract services Total current expenses Student financial aid Tuition transfers Capital outlay Undistributed reserve General reserve Prior year's liabilities 9,627,567. 6,930, ,85 837,384 8,33, ,000,597,202 79, ,679 0,293,556 7,353,488 64, ,80 8,824,55 38,000 4, ,0. 267,893 (665,989) (422,78) (68,672 ) (8,796) (50,86 ) (37,600) (4,065) (30,0),597,202 79,500 (3,2J4) Total - SChedule B-2 0,88,750 9,727,24,09,536 EXCESS REVENUE OR (EXPENDTURES) (,9,83) 566,342 ~757,525 BALANCE $(,44,263),932,004 $(3.076,267).Add: Prior year accounts payable Deduct: Prior year accounts receivable 264,679 (30,605) Prior year unapportioned taxes (00,866 ) Prior year cash collection awaiting deposit (27,687) BALANCE, June 30, ''0 EXHBT A $, 757,525 (The accompanying notes are an integral part of these financial statements) (5)

9 COACHELLA VALLEY COMMUNTY.COLLEGE DSTRCT Schedule B- Page GENERAL FUND STATEMENT OF ACTUAL REVENUE COMPARED TO BUDGE'r FOR THE YEAR ENDED JUNE 30, 978, Budget Actual FEDERAL REVENUE Public Law 874 $ 93,000 $ 08,48 Veterans cost of instruction 24,000 22,733 CETA 200, ,724 Economic Opportunity Acts 25,000 6,74 HEW library and equipment 3,500 3,855 VEA 72,000 24,090 Nursing capitation grant 27,500 24,573 Adult basic education 58,000 56,000 Other.7,238 Total Federal Revenue 503, ,372 STATE REVENUE Principal apportionment,30,732,25,639 Physically handicapped 20,892 5,39 Business inventory 06,589 Homeowners property tax felief 40,054 Extended opportunity program 98,906 06,335 Desert regional adult and vocational council 5,000 4,480 Open space subvention 25,000 30,54 Other 4,000 Total State Revenue,394,530. 2,034,750 COUNTY REVENUE Trailer coach fees 25,000 50,677 Equalization aid offset tax 5,000 2,278 Total County Revenue 40,000 52,955 LOCAL REVENUE Secured taxes 5,899,588 5,70,558 Unsecured taxes 92,57 828,067 Prior year taxes 350,000 48,926 Student charges - Adult education 25,000 29,976 - Non-resident students 30,000 7,35 - Community services 30,000 75,327 (Continued on Next Page) (Over) Under Budget $ (5,48),267 (59,724 ) 8,259 (355) (52,090) 2,927 2,000 '(7,238) (30.,372 ) (84,907) (30,247) (06,589) (40,054) (7,429) 520 (5,54)._Lo,OOO (640,220) (25,677) 2,722 (2,955) 89,030 93,090 (3,926) (4,976) (4,35) (45,327) (The accompanying notes are an integral part of these financial statements) (6)

10 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT GENERAL FUND STATEMENT OF ACTUAL REVENUE COMPARED TO BUDGET FOR THE YEAR ENDED JUNE 30, 978 Budget Actual LOCAL REVENUE (Continued) Sale of equipment and supplie s $. 5,000 $,65 Farm income 40, ,7 nterest 35,000 50,542. Rentals and leases,000 Other 5,000 33,899 Total Local Revenue 7,35,345 7,3.54,982 NCOMNG TRANSFERS AND OTHER Cash collection awaiting deposit 2.7, ,687 Accounts receivable 30, ,949 Tuition transfers 6,86 338, ,497 TOTAL REVENUE - TO EXHBT B ;\ 9,62.7,567 ;\0,2.93,556 / ::;checluj.e l::l-.l Page 2. (Over) Under Budget $ 3,835 (32.,7) (5,542.),000 (8,899) -<3,237) 27,656 (6,86) 20,795 ;\ (6(35,989) (The accompanying notes are an integral part of these financial statements) (7)

11 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT Schedule B-2. GENERAL FUND STATEMENT OF ACTUAL EXPENDTURES COMPARED TO BUDGET FOR THE YEAR ENDED JUNE 30, 978 (Over) Under Budget Actual Budget Certificated Salaries: Regular schedule $ 3,652,982 $ 3,688,86 $ (35,834) Other 725,000,047,380 (322,380) Classified Salaries: Non-instructional,44,458,396,726 7,732 nstructional aides 274, ,394 (54,465) Employee benefits (Note 7) 863,40 89,72 (27,77) 6,930,770 ~353,488 (422,78) Books, supplies and. equipment replacement 545,85 64,487 (68,672) Contract services 837, ,80 P8,796) Student financial aid 400 3~OOO (37,600) Tuition transfers ( 4,065) Capital Outlay: Sites and improvements 92,000 28,539 63,46 Buildings 6,000 94,42 (33,42) Books and media 40,000 43,998 (3,998) Equipment 330, ,882 (53,882) Lease purchase (Note 8) 40, ,270 (2,270) 563, ,0 (30,0:.) Undistributed reserve,597,202,597,202 General reserve 79,500 7~500 Prior year's liabilities 26 L ,893 (3,24) TOTAL GENERAL FUND EXPENDTURES - TO EXHBT B ~0,88,750 L9, 727,2.4 ~,09,536 (''he accompanying notes are an integral part of these financial statements) (8)

12 COACHELLA VALLEY COMMUNTY COLLEGE DST.!lCT EXHBT C BULDNG FUND STATEMENT OF FUND TRANSACTONS FOR THE YEAR ENDED JUNE 30, 978 \ BALANCE, July, 977 REVENUE nterest Total $ 4,4 4 4,28 Building Fund $ 3,894 3,894 #64 Federal. Program $ EXPENDTURES. Capital outlay 9,578 9,578 BALANCE, June 30, TO EXHBT A ~ 4,550 > 4,3}6 i 234 (The accompanying notes are an integral part of these financial statements) (9)

13 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT EXHBT E GFTS AND BEQUESTS TRUST FUND STATEMENT OF FUND TRANSACTONS FOR THE YEAR ENDED JUNE 30, 978 Palm Palm Planet-. Springs Springs Scholar- arium Property Property Total Shi}22 Fund Principal nterest Library BALANCE, July, 977 $,G9,064 $03,865 $ 6,799 $ 50,740 $ 7,660 $ REVENUE Gifts and repaid loans 59,092 48, nterest 7,734 4, , ,826 52, ,393,279 0,000 0,000 EXPENDTURES Loans 7,357 7,357 Scholarships 50,788 48,688 2,00 Matching funds for Federal loans ,795 56,045 2,750 BALANCE, June 30, '0 EXHBT A $ $ $ 7.46 $ $ 6.89 $ NOTE: Emergency loans outstanding at June 30, 978 totaled $7,036. (The accompanying notes are an integral part of these financial statements) ()

14 COACHELLA VALLEY COMMUNXTY COLLEGE DXSTRXCT EXHBT D BOND NTEREST AND REDEMPTON FUND STATEMENT O~ FUND TRANSACTONS FOR THE YEAR ENDED JUNE 30, 978 BALANCE, July,977 REVENUE District taxes and SUbventions $609,339 nterest on investments 2,586 Total funds available EXPENDTURES Bond principal 400,000 Bond interest 22,249 BALANCE, June 30, TO EXHBT A $ 49, ,925,22,268 62,249 $ 50,0:.9 (The accompanying notes are an integral part of these financial statements) (0)

15 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT EXHBT F FEDERAL LOANS AND GRANTS STATEMENT OF FUND 'j.'ransactons FOR THE YEAR ENDED JUNE 30, 978 Total Federal Loans and Grants Nursing and NSDL Repayments.-- BALANCE, July, 977 $23,350 $ 33,078 $ 90,272, REVENUE Federal and local matching funds Repaid loans nterest earned Transfers 33,6 48,275 4,667 35,027 33,6 35,027 48,275 4,667. 2,085 68,43 52,942 EXPENDTURES Loans Grants Administrative expenses Work study program Transfers 29,980 6,290 4,88. 35,02 35,027 29,980 6,290 35,02 4,88 35,027 0,497 7,282 39,25 BALANCE, June 30, to EXHBT A :j>l33,938 ~ 29,939 ~03,999 NOTE: NDSL loans outstanding at June 30, 978 totaled $476,796. Nursing loans outstanding at June 30, 978 totaled $65,527. (The accompanying notes are an integral part of these financial statements) (2).

16 COACHELLA VALLEY COMMUNTY COLLEGE DSTRC'l' EXHBT G SPECAL RESERVE FUND #96 STATEMENT OF FUND TRANSACTONS FOR THE YEAR. ENDED JUNE 30, 978 BALANCE, July, 977 $ 326 REVENUE nterest 2 BALANCE, June 30, TO EXHBT A $. 347 (The accompanying notes are an integral part of these financial statements) (3)

17 COACHELLA VALLEY COMMUN'fY COLLEGE DSTRCT PLANT FUND STATEMENT OF FOND.TRANSACTONS FOR THE YEAR ENDED JUNE 30, 978 BALANCE, July, 977 ADDTONS General Fund Fund 354 Donated equipment Cost of assets sold BALANCE, June 30, 978 TO EXHBT A.' ", \, ~'otal $3; 407, 9tll 45,89 9,578 3,75 (76,444) $3:48)029 SCHEDULE OF LONG-TERM LABLTES JUNE 30, 978 BONDS OUTSTANDNG 96 ssue 3-/2, 3-3/4, 4-/2% Final Maturity ssue 3-/2, 4-3/4, 4-/2% Final Maturity ssue 4-/2, 4-3/4, 5% Final Maturity - 993,, ' Amount of Original ---- lss'ue' $ 3,506',0'00 'i2', 600, ,500,000 " (The accompanying notes are an integral part of these financial statements) (4)

18 EXBT H.,',~<tnd mprovement of Site Buildings Books Other Equipment j u$:.) \~, 7.p~,28 $,38,765 $ 8,44,23 $ 443,832 $ 2,459,053 ;_~ < i ~ 8,60 34, ,869,, \"~},!.; 9,578," f " 3,:75 :)'D'~( 4,000) (72,4~44)., ~.L 705J28 ~,390,375 ~ 8.458,027.,$;443, 84.!L_~~20, 653!,., '~ ".. C i EXHBT ~ ~ j ;_L j Bonds Bonds JUlY, 977 Sold Mature'! June 30, 978 )c$),?,,0,00, 000 $ $ 200,000 $,800,000 '.(0, :).",30(;), ,000,200, 'e' 2,,',200, ,000 2,00,000 ~ 5,500,000 ~ $ 400,000 $ 5,00,000 \ \. -, " (4 )

19 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT EXBT J ASSOCATED STUDEN'l' BODY BALANCE SHEET JUNE 30, 978. CURRENT ASSETS Cash on hand Cash in bank Accounts receivable, fully collectible Student store inventory - at FFO cost Total current assets ASSETS $ ,98 6,902 82,822 20,342 FURNTURE AND EQUPMENT - Student store Student body office AT COST $ 3,26 4,533 7,659 $28,00 LABLTES AND FUND BALANCE CURRENT LABLTES Accounts payable Payroll and sales tax payable Monies held for Special Gifts Advances from ASCOD $ 3,27 2,477,272. 0,87 Total current liabilities 27,53 FUND BALANCE Balance, July,977. Desert Ranchers Club - balance July, 977 (Note 3) ASCOD - Student activities - income - EXHBT K Cafeteria Fund - income - EXHBT L Student Store Fund - loss - EXHBT M $85,499 7,07,062 8,263 (,083) 00, $28,00. (The accompanying notes are an integral part of these financial statements) (5 )

20 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT EXHBT K ASCOD - STUDENT ACTVTES STATEMENT OF OPERATONS FOR THE YEAR ENDED JUNE 30, 978 NCOME Desert Ranchers Club (Note 3) Competitive activities Student body ASCOD activities Campus activities Other $ Actual 6,300 52,250 2,650 7,250 Budget $ 46,065 0,099 56,424 4,829 5,479,729 (Over) Under Budget $(46,065) (3,799) (4,74) (2,79),77 (,729) 68,450 24,625 (56,7f?) EXPENSES Desert Ranchers Club (Note 3) Competitive activities - men - women Campus organizations ASCOD Actlvities: Executive Conferences and travel Social activities Awards Homecoming ntramurals Cheerleaders Association dues Student center Professional services Campus Activities: Drama Music Forensics Journalism Synchronized swimming Publications Publicity Health insurance Operating. Other 25,050 4,00, , , , ,700,600 6,000,700, , ,950,500 2,300 45,905 26,776 3,92, , ,664,55 6,000, ,500, ,875 3,53 5,75 (45,905) (,726) 88 (696) 223 (46 ) (574) ('/9 ) (2,925) (2,03) (2,875) 68,450 23,563 (55,3) NCOME - TO EXHlBT J ~ $,062 $ (,062) (The accompanying notes are an integral part of these financial statements) (6)

21 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT ]<;XH)3'l' L. ASSOCATED STUDENT BODY - CAFETERA FUND STATEMENT OF OPERATONS FOR THE YEAR ENDED JUNE 30, 978. NCOME EXPENSES Special food services NCOME - TO EXHBT J. $ 8, $ 8, 262 (The accompanying notes are an integral part of these financial statements) (7)

22 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT EXHBT M ASSOCATED STUDENT BODY - STUDENT STORE FUND STATEMENT OF OPERATONS FOR THE YEAR ENDED JUNE, 30, 978 NCOME Sales Other $368,676 2,043 COST OF SALES nventory - July, 977 Purchases nventory - June 30, 978 Gross profit EXPENSES Salaries and wages Payroll taxes Equipment rental Operating Cash variation LOSS - TO EXHBT J 370,79 $ 83, ,80 386,720 82, ,898 66,82 58,069 5,567,078 3, "-,~--,(...::;4::::.2) 67, 9 4 (,083) (The accompanying notes are an integral part of these financial statements) (8),

23 COACHELLA VALLEY COMMUNTY COLLEGE.DSTRCT NOTES TO FNANCAL STATEMENTS JUNE 30, 97.8 ) SGNFCANT ACCOUNTNG POLCES The accounting policies and procedures used by the District are those recommended in the "Budget and Accounting Manual for California Community Colleges". Data processing functions are performed by the office of the Riverside County Superintendent of Schools. The financial records of the District are maintained on the modified accrual basis of accounting, The financial records of the Associated Student Body are maintained on campus on the accrual basis of accounting. The fixed assets of the District are recorded as an expenditure in the year of purchase and are not depreciated, which is in accordance wi th generally accepted accounting procedur es for governmental agencies. 2) ACCOUNTS RECEVABLE - GENERAL FUND From Federal Sources: Adult Basic Education Act Employment and Training Acts Economic Opportunity Acts Maintenance and operation $ 56,000 25,46 6,74 2,522 From State Sources - From County Sources - Other Other, From Local Sources: District taxes Fa;J;'m income Abatements ncoming tuition transfers 3,92 2,658 2,458 6,86 $28,632 (9 )

24 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT NOTES TO FNANCAL STATEMEN'rS JUNE 30, 978 3) UNAPPORTONED TAXES A taxes collected by the County treasury have been apportioned as of April 0, ) DELNQUENT TAXES RECEVABLE These taxes will be considered as income in the year they are collected and therefore are fully reserved. 5) LONG-TERM LABLTES Bonds payable in the amount of $5,00,000 and the related interest will be repaid as required from special property tax levies. 6) ACCOUNTS PAYABLE - GENERAL FUND Certificated salaries Classified salaries Employee benefits Books and supplies Other operating expenses Tuition transfers Capital outlay Prior year liability $,079 24,599 56,95 79,849 4,395,805 7,6 35 $286,353 7) RETREMENT PLAN Certificated employees are covered under the State Teachers Retirement System (STRS) and classified employees are covered under the Public Employees Retirement System (PERS), The plans are funded by employee and employer contributions based on a percentage of salaries. The employer and employee contributions are presently being used for both past service benefits and current funding of vested benefits, 8) LEASE PURCHASE The District is obligated under a lease/purchase agreement for data processing equipment at an annual cost of $42,269, A payment is due September, 978 and the final payment is due September, 979, at which time the equipment will be the property of the District, (20 )

25 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT NOTES TO FNANCAL STATEMENTS JUNE 30, 978 9) 0) ) BULDNG LEASES The District is obligated under short-term operating leases for the rental of buildings as follows: Total $ 86, $ 34, $ 3,800 n'lsurance nsurance in force at June 30, 978 was Comprehensive General Liability: Combined Bodily njury and Property single limit Uninsured motorist Auto medical payments Comprehensive Blanket Excess Liability: Bodily njury and Property Damage Fire and Extended Coverage: Buildings and equipment Data processing equipment Scheduled All Risk Property Floater: Value of scheduled items over $200 Additional acquired items -annual Boiler and machinery Board of Education liability - Blanket Employee Fidelity: Blanket bond Holdup Employee Travel Accident Truck or auto cargo $ 9,800 annual as follows: Damage - Thereafter $ -0- $500,000 $ 5,000/$ 30,000 $00 deductible $00 deductible $5,500,000 $ 2,986,547 $22,445 $750,000 reporting $,000,000 aggregate $!000,000 $ 0,000 $ 2,000/$ 5,000 $ 50,000/$00,000 $ 3,000 A'fTENDANCE We have examined the annual attendance report submitted by the District and the records supporting them to the extent considered necessary and found no discrepancies. Average daily attendance for the year is summarized below: Residents of reporting district Residents of another district (2) 4,

26 COACHELLA VALLEY COMMUNTY COLLEGE DSTRCT NOTES TO FNANCAL STATMENTS JUNE 30, 978 \ \ \ 2) FEDERAL AND CALFORNA FUNDED PROGRAMS Operating, loan, and grant programs were audited to the extent considered necessary in accordance with the applicable regulations and guidelines and were found to be in substantial compliance with directives. \ \ \.3) 4) DESERT RANCHERS CLUB n prior years, the club operated as a separate entity and was excluded from the Associated Student Body. During fiscal , the District determined that the club should be an included activity. The club owns equipment, the value of which can not be determined because complete records are not available, and therefore it is not included in Exhibit J. On August 9, 978 a fire damaged almost two thirds of the building in which the club is housed. Additionally, some of the equipment may have been damaged. A dollar value of the loss is not available but insurance proceeds are expected to cover most, if not all, of the loss. PROR AND CURRENT YEAR AUDT RECOMMENDATONS. Prior year items were of a minor nature and were addressed during the current year. Current year items were of a minor nature and were discussed with management. (22)