Fremont Union High School District Continuing Disclosure Filing For the Period Ending June 30, 2012

Transcription

1 Fremont Union High School District Continuing Disclosure Filing For the Period Ending June 30, 2012 Prepared by Fremont Union High School District 589 West Fremont Avenue Sunnyvale, CA 94087

2 Table of Contents A. Introduction... 1 B. Annual Report Audited Financial Statements for Year Just Ended (Fiscal Year 2011/12) Current Year Budget for Fiscal Year 2012/ Average Daily Attendance Information Relating to the District s Outstanding Debt History History of Assessed Valuations of Taxable Property Within the District History of Secured Tax Charges and Delinquencies History of Tax Rates Ratings C. Contacts for Further Information D. Official Statement Cover Pages and Continuing Disclosure Certificates E. List of Significant Events F. Audited Financial Statements for Year Just Ended June 30, G. Current Year Budget for Fiscal Year 2012/ H. Debt Service Schedule... 16

3 Fremont Union High School District 2012 Continuing Disclosure Annual Report A. Introduction The Fremont Union High School District ( District ) hereby provides the continuing disclosure annual report pursuant to the Continuing Disclosure Agreements in connection with the following financings for the fiscal year ended June 30, 2012 ( Annual Report ): Dated Date Base CUSIP (1) Par Amount Name of Issue February 3, $143,300, General Obligation Bonds Refunding Bonds August 28, ,000,00 March 23, ,905,00 March 23, ,090, March 23, ,000,00 General Obligation Bonds, Election of 2008, Series 2008 General Obligation Bonds, Election of 2008, Series 2011A Current Interest Bonds General Obligation Bonds, Election of 2008, Series 2011B Capital Appreciation Bonds General Obligation Bonds, Election of 2008, Series 2011D Qualified Construction Bonds (1) CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor s. The CUSIP Database, 2012 American Bankers Association. CUSIP is a registered trademark of the American Bankers Association. Use of CUSIP identifiers provided herein is for personal, non commercial use only. Neither the District nor the Underwriter takes any responsibility for the accuracy of such identifiers. Page 1

4 Fremont Union High School District 2012 Continuing Disclosure Annual Report B. Annual Report The following Annual Report is submitted pursuant to the Continuing Disclosure Certificates for the financings referenced in Section A. Each disclosure item is listed below with the required information or reference to the location of the required information. For background information on each item, please refer to the official statement for each issue (cover pages are included in Section D). 1. Audited Financial Statements for Year Just Ended (Fiscal Year 2011/12) Enclosed See Section F. 2. Current Year Budget for Fiscal Year 2012/13 Enclosed See Section G. In addition, the following table summarizes the District s historical General Fund revenues, expenditures, and fund balances from fiscal year 2008/09 through 2011/12. The table also includes budget figures for 2012/13. Year end fund balance is comprised of reserved and unreserved funds, including a reserve for economic uncertainty. Revenue, Expenditures and Fund Balances First Actual Actual Actual Actual Interim Report 2008/09 (a) 2009/10 (a) 2010/11 (a), (c) 2011/12 (a),(c) 2012/13 (b) Total Revenue $102,959,170 $104,307,106 $103,352,422 $100,122,124 $97,660,476 Total Expenditures (100,045,454) (94,480,533) (100,475,5280) (99,141,911) (107,705,905) Other Financing Sources/Uses (876,340) (1,315,621) (1,109,221) (3,904,252) 232,380 Net Change In Fund Balances 2,037,376 8,510,952 1,767,673 (2,924,039) (9,813,049) Fund Balance July 1 9,417,172 11,454,548 22,706,114 24,473,787 21,549,749 Fund Balance June 30 11,454,548 19,965,500 24,473,787 21,549,748 11,736,700 Adult Education Fund 149, ,994 n/a n/a n/a Deferred Maintenance Fund 1,609,842 1,906,619 n/a n/a n/a Combined Fund Balance $13,214,301 $22,706,113 $24,473,787 $21,549,748 $11,736,700 (a) (b) (c) Derived from Audited Financial Statements. District s First Interim Report as of October 31, Beginning in fiscal year 2010/11, the District s General Fund as reported in the audited financial statements include the Adult Education and Deferred Maintenance Funds to conform to GASB Statement No. 54 s definition of governmental funds. Page 2

5 Fremont Union High School District 2012 Continuing Disclosure Annual Report 3. Average Daily Attendance The following table summarizes the District's historical and current year estimated average daily attendance as reported at P 2. Academic Year Average Daily Attendance (a) 2002/03 8, /04 9, /05 9, /06 9, /07 9, /08 9, /09 10, /10 9, /11 10, /12 10, /13 (b) 10,326 (a) (b) Data from audited financial statements. Includes regular classes, community day school, home and hospital, special education, and independent study; excludes ROP and adult education. Projected as of October 31, Information Relating to the District s Outstanding Debt History Short Term Obligations On July 1, 2011, the District issued $15,000,000 in tax and revenue anticipation notes (the 2011 Notes ). The 2011 Notes mature on June 29, The 2011 Notes are general obligation of the District payable from general fund and any other lawfully available revenues received or attributable to the 2011/12 fiscal year. On July 3, 2012, the District issued $10,500,000 in tax and revenue anticipation notes (the 2012 Notes ). The 2012 Notes mature on June 28, The 2010 Notes are general obligations of the District payable from general fund and any other lawfully available revenues received or attributable to the 2012/13 fiscal year. Page 3

6 Fremont Union High School District 2012 Continuing Disclosure Annual Report General Obligation Bonds The District has bonds outstanding under two separate voter authorizations. On April 14, 1998, District voters approved Measure H, authorizing the District to issue up to $144 million in general obligation bonds. The District issued these bonds in three series which are described in the table below. The District has issued all bonds authorized under Measure H, and no bonds remain authorized but unissued. On June 3, 2008, District voters authorized the District to issue up to $198 million of bonds, by an affirmative vote of 67.1% of the votes cast (a 55% vote in favor was required). Two series of bonds with par amounts totaling $149,999, have been issued under this authorization leaving approximately $48 million in authorized but unissued bonds remaining as of this date. In addition, the District has issued refunding bonds on one occasion. Page 4

7 Fremont Union High School District 2011 Continuing Disclosure Annual Report These general obligation bonds are also described in the table below. Outstanding General Obligation Bonds Amount Counting Amount Counting Toward Toward Outstanding Final Amount of as of Dated Date Series Maturity Original Issue Authorization Authorization June 30, 2012 July 16, 1998 Election of 1998, Series A 5/1/22 $ 40,000,00 $ 40,000,00 $ $ (a) November 8, 2000 Election of 1998, Series B 5/1/25 60,000,00 60,000,00 (a) July 2, 2002 Election of 1998, Series C 9/1/26 44,000,00 44,000,00 (a) February 3, GOB Refunding Bonds 9/1/26 143,400,00 113,510,00 August 28, 2008 Election of 2008, Series /1/32 80,000,00 80,000,00 77,100,00 March 23, 2011 General Obligation Bonds, Election of 2008, Series 2011A Current Interest Bonds 8/1/44 28,905,00 28,905,00 28,905,00 March 23, 2011 March 23, 2011 General Obligation Bonds, Election of 2008, Series 2011B Capital Appreciation Bonds General Obligation Bonds, Election of 2008, Series 2011D Qualified Construction Bonds 8/1/40 16,090, ,090, ,090, /1/26 25,000,00 25,000,00 25,000,00 Total $144,000,00 $149,995, $260,605, (a) The 2005 General Obligation Refunding Bonds refunded all of the District s then outstanding Series A, Series B, and Series C bonds on an advanced basis. Page 5

8 Fremont Union High School District 2012 Continuing Disclosure Annual Report The semi annual debt service for all outstanding bonds is included in Appendix H. The annual requirements to amortize general obligation bonds payable, outstanding as of June 30, 2012, are as follows: Period 2005 Election of 2008 Total Estimated Net Ending Refunding Series 2008 Series 2011 Debt Service Federal Subsidy (b) Debt Service 9/1/2012 (a) $ 8,727,50 $ 2,187,25 $ 4,144, $15,058, $ (672,50) $14,386, /1/ ,878,75 3,758,50 5,039, ,676, (1,345,00) 19,331, /1/ ,261,15 4,150,50 4,375, ,786, (1,328,322.00) 19,458, /1/ ,660,75 4,426,50 4,341, ,428, (1,240,897.00) 20,187, /1/ ,071,75 4,990,50 4,064, ,127, (1,150,513.00) 20,976, /1/ ,497,50 5,615,50 3,753, ,866, (1,070,082.00) 21,796, /1/ ,935,00 6,227,50 3,479, ,642, (1,002,025.00) 22,639, /1/ ,391,50 6,911,50 3,166, ,469, (944,997.00) 23,524, /1/ ,858,75 7,563,50 2,912, ,335, (901,688.00) 24,433, /1/ ,338,75 8,083,50 2,800, ,222, (869,677.00) 25,353, /1/ ,838,25 8,669,00 2,597, ,104, (841,97) 26,262, /1/2023 4,168,50 9,169,00 2,546, ,884, (823,678.00) 15,060, /1/2024 2,029,00 9,457, ,486, (807,00) 10,679, /1/2025 5,829,00 6,037, ,866, (417,488.00) 11,449, /1/2026 5,817,50 6,187, ,004, (94,15) 11,910, /1/2027 5,820,00 3,010, ,830, ,830, /1/2028 5,812,50 3,425, ,238, ,238, /1/2029 6,145,00 3,610, ,755, ,755, /1/2030 6,112,25 4,090, ,203, ,203, /1/2031 5,870,00 4,740, ,610, ,610, /1/2032 5,865,00 5,235, ,100, ,100, /1/2033 5,747,50 5,825, ,573, ,573, /1/ ,595, ,595, ,595, /1/ ,150, ,150, ,150, /1/ ,715, ,715, ,715, /1/ ,310, ,310, ,310, /1/ ,970, ,970, ,970, /1/ ,595, ,595, ,595, /1/ ,265, ,265, ,265, /1/2041 1,305, ,305, ,305, /1/2042 1,305, ,305, ,305, /1/2043 9,490, ,490, ,490, /1/ ,975, ,975, ,975, Total $150,628,15 $126,800,50 $210,530, $487,958, $(13,509,987.00) $474,448, (a) (b) Figures for the period ending September 1, 2012 exclude payments made prior to June 30, 2012, and therefore reflect a partial bond year. The District expects to receive federal subsidy payments in connection with the qualified school construction bonds. Page 6

9 Fremont Union High School District 2012 Continuing Disclosure Annual Report 5. History of Assessed Valuations of Taxable Property Within the District The following is a table summarizing the assessed valuation of the District. Fiscal Year Local Secured Utilities Unsecured Total Annual Growth Rate 2002/03 $26,466,874,919 $2,273,606 $3,453,569,158 $29,922,717,683 N.A 2003/04 27,762,919,924 1,918,211 3,143,460,964 30,908,299, % 2004/05 28,706,021,853 2,168,041 2,325,205,935 31,033,395, /06 30,575,856,089 2,083,337 2,997,703,263 33,575,642, /07 33,900,396,481 1,874,379 2,422,354,509 36,324,625, /08 36,870,171, ,226 2,489,113,597 39,360,193, /09 40,265,920,165 1,390,000 2,795,916,975 43,063,227, /10 41,538,125,528 1,390,000 3,143,752,066 44,683,267, /11 41,525,948,647 1,390,000 2,882,607,434 44,409,946,081 (0.61) 2011/12 41,998,367,080 1,390,000 3,069,742,727 45,069,499, /13 43,746,675,427 1,390,000 3,348,353,896 47,096,419, Averages 3 year Average 1.79% 5 year Average 3.71% 10 year Average 4.70% Source: California Municipal Statistics, Inc. Page 7

10 Fremont Union High School District 2012 Continuing Disclosure Annual Report 6. History of Secured Tax Charges and Delinquencies The historical secured tax levy and year end delinquencies for the District are shown in the following table: Fiscal Year Secured Tax Charge Amount Delinquent as of June 30 Percent Delinquent June /03 $ 6,469, $ 43, % 2003/04 6,786, , /05 19,150, (a) 96, /06 7,899, , /07 8,099, , /08 8,810, , /09 13,492, , /10 12,531, , /11 14,830, , /12 17,100, , (a) Amount reflects data received from California Municipal Statistics, Inc., which has not been independently verified by the District. Note: These amounts represent taxes collected by the County within the District's boundaries for bond debt service only. Source: California Municipal Statistics, Inc. Page 8

11 Fremont Union High School District 2012 Continuing Disclosure Annual Report 7. History of Tax Rates The following table summarizes the historical and current property tax rates levied on behalf of the District to repay general obligation bond debt. The tax rate statement submitted by the District at the time of the Measure H election in April 1998 estimated that the maximum tax rate that would be required to be levied to pay debt service on all bonds authorized under Measure H once issued would be $3 per $100,000 assessed value. The tax rate statement submitted by the District at the time of the Measure B election in June 2008 estimated that the maximum tax rate that would be required to be levied to pay debt service on all bonds authorized under Measure B once issued would be $18.00 per $100,000 assessed value. Tax Rate for Bond Repayment per $100,000 of Assessed Valuation Fiscal Year Measure H Measure B Total 1998/99 $22.90 $ / / / / / / / / / / $ / / / / Source: Santa Clara County Auditor Controller s Office Page 9

12 Fremont Union High School District 2012 Continuing Disclosure Annual Report 8. Ratings The most current underlying ratings on the District s general obligation bonds are Aa1 from Moody s Investors Service (confirmed January 2013) and AA+ from Standard & Poor s (confirmed January 2013). Some of the District s bonds were originally issued with credit enhancement. Since 2008, the municipal bond insurance business has undergone significant financial stress. Bonds insured by certain traditional triple A insurers have been subject to rating action. Current ratings on the District s bonds are shown in the table below. Bond Insurance (a) Amount of Initial Current Rating Dated Date Series Original Issue Insurer Bond Ratings Based on: February 3, General Obligation Refunding Bonds $143,400,00 FGIC (b) Aa1/AA+ District August 28, 2008 Election of 2008, Series ,000,00 N/A Aa1/AA+ District March 23, 2011 March 23, 2011 March 23, 2011 General Obligation Bonds, Election of 2008, Series 2011A Current Interest Bonds General Obligation Bonds, Election of 2008, Series 2011B Capital Appreciation Bonds General Obligation Bonds, Election of 2008, Series 2011D Qualified Construction Bonds 28,905,00 N/A Aa1/AA+ District 16,090, N/A Aa1/AA+ District 25,000,00 N/A Aa1/AA+ District (a) (b) The insurance information listed in this table is updated to the best of the District's knowledge. The bonds are a part of the insured portfolio of National Public Finance Guarantee Corporation ( National ), as of December National is currently rated Baa2/BBB by Moody s and Standard & Poor s, respectively. Fitch has withdrawn its rating. Page 10

13 Fremont Union High School District 2012 Continuing Disclosure Annual Report C. Contacts for Further Information District: Disclosure Consultant: County: Paying Agent: Christine Mallery Chief Business Officer/Associate Superintendent of Business Fremont Union High School District 589 West Fremont Avenue Sunnyvale, CA Tel: Fax: E mail: christine_mallery@fuhsd.org Dave Olson, Vice President KNN Public Finance 1333 Broadway, Suite 1000 Oakland, CA Tel: Fax: E mail: dolson@knninc.com Web: Paul Knofler, Debt Management Officer Santa Clara County 70 West Hedding Street East Wing, Second Floor San Jose, CA Tel: Fax: E mail: paul.knofler@fin.sccgov.org Marianne Diaz U.S. Bank National Association Corporate Trust Services, SF CA SFCT One California Street, 10th Floor, Suite 1000 San Francisco, CA Tel: Fax: E mail: marianne.diaz@usbank.com Page 11

14 Fremont Union High School District 2012 Continuing Disclosure Annual Report D. Official Statement Cover Pages and Continuing Disclosure Certificates Page 12

15 ',... N'~W ISSUE--FULL BOOK-ENTRY INSURED RATINGS: Moody's: Aaa; S&P: AAA UNDERLYING RATINGS: Moody's: Aa2; S&P: AA (See "MISCELLANEOUS - Ratings") In the opinion ofstradling Yocca Carlson & Rauth, a Professional Corporation, San Francisco, California ("Bond Counsel"), under existing statutes, regulations, rulings andjudicial decisions, and assuming the accuracy ofcertain representations and compliance with certain covenants andrequirements described herein, interest (and original issue discount) on the Bonds is excluded from gross income for federal income tax purposes and is not an item oftax preference for purposes ofcalculating the federal alternative minimum tax imposed on individuals and corporations. In the further opinion ofbond Counsel, interest (and original issue discount) on the Bonds is exemptfrom State ofcalifornia personal income tax. In addition, the difference between the issue price ofa Bond (the first price at which a substantial amount ofthe Bonds ofa maturity is to be sold to the public) and the st(1ted redemption price at maturity with respect to the Bond constitutes original issue discount. (See "TAX MATTERS" herein with respect to tax consequences relating to the Bonds) $143,400,000 FREMONT UNION HIGH SCHOOL DISTRICT (Santa Clara County, California) 2005 General Obligation Refunding Bonds Dated: Date ofdelivery Due: September 1, as shown on inside front cover This coverpagecontains certain informationfor quickreference only. It is nota summaryofthis issue. Investors mustread the entire OfficialStatement to obtain information essential to the making ofan informed investment decision. Capitalized terms used on this coverpage and not otherwise defined shall have the meanings setforth herein. The Fremont Union High School District, Santa Clara County, California, 2005 General Obligation Refunding Bonds (the "Bonds") are being issued under the laws of the State of California and pursuant to a resolution of the Board of Trustees of the Fremont Union High School District (the "District"). The proceeds of the Bonds will be used to advance refund the outstanding principal amount of the District's (i) 1998 General Obligation Bonds (Election of 1998, Series A), (ii) 2000 General Obligation Bonds (Election of1998, Series B), and (iii) 2002 General Obligation Bonds (Election of 1998, Series C) (collectively, the "Refunded Bonds"), which were authorized at an election ofthe registered voters ofthe District held on April 14, 1998, at which more than twothirds ofthe persons voting on the proposition voted to authorize the issuance and sale of$144,000,000 principal amount ofgeneral obligation bonds ofthe District and to pay costs ofissuance associated with the Bonds. The Bonds are general obligations ofthe District, payable solely from the proceeds ofadvalorem taxes. The Board ofsupervisors of Santa Clara County is empowered and is obligated to levy ad valorem taxes, without limitation as to rate or amount, upon all property within the District subject to taxation by the District (except certain personal property which is taxable at limited rates), for the payment of interest on and principal ofthe Bonds when due. The Bonds will be issued in book-entry form only, and will be initially issued and registered in the name ofcede & Co. as nominee for The Depository Trust Company, New York, New York (collectively referred to herein as "DTC"). Purchasers of the Bonds (the "Beneficial Owners") will not receive physical certificates representing their interest in the Bonds. Interest with respect to the Bonds accrues from their initial date ofdelivery, and is payable semiannually by check or draft mailed on March I and September I ofeach year, commencing September 1,2005. Payment to owners of$1,000,000 or more in principal amount ofthe Bonds, at the owner's option, will be made by wire transfer. The Bonds are issuable as fully registered Bonds in denominations of $5,000 or any integral multiple thereof. Payments of principal of and interest on the Bonds will be made by U.S. Bank National Association, as Paying Agent, to DTC for subsequent disbursement to DTC Participants who will remit such payments to the Beneficial Owners of the Bonds. (See "APPENDIX E - BOOK-ENTRY ONLY SYSTEM"). The Bonds are subject to optional redemption prior to maturity as described herein. The scheduled payment ofthe principal ofand interest on the Bonds when due will be guaranteed under an insurance policy to be issued concurrently with the Bonds by Financial Guaranty Insurance Company doing business in California as FGIC Insurance Company ("Financial Guaranty" or the "Insurer"). (See "THE BONDS - Bond Insurance" and "APPENDIX F - FORM OF MUNICIPAL BOND NEW ISSUE INSURANCE POLICY.") F6IC Financial Guar~ty Insur"nce Com~n, Maturity Schedule (see inside front cover) The Bonds willbe offeredwhen, as andifissued, subject to the approvalas to theirlegality bystradling Yocca Carlson & Rauth, a Professional Corporation, San Francisco, California, Bond Counsel to the District. It is anticipated that the Bonds, in definitive form, will be availablefor delivery to Cede & Co., as nominee ofthe Depository Trust Company in New York, New York on or about February 3, Dated: January 20, 2005 UBS FINANCIAL SERVICES, INC.

16 I.., - ", MATURITY SCHEDULE $143,400,000 Maturity Principal Interest Maturity Principal Interest September 1 Amount Rate Yield September 1 Amount Rate Yield $4,810, % 2.00% 2013 $5,000, % 3.42% ,095, ,260, ,495, ,000, ,920, ,600, ,365, ,400, ,335, ,785, * ,000, ,650, * ,500, ,570, * ,370, ,555, * ,350, ,600, * ,600, ,710, * ,000, ,895, * ,565, ,970, * *Yield to par call on September 1, 2015.

17 APPENDIX C FORM OF CONTINUING DISCLOSURE CERTIFICATE This Continuing Disclosure Certificate (the Disclosure Certificate ) is executed and delivered by the Fremont Union High School District (the District ) in connection with the issuance of its $143,400, General Obligation Refunding Bonds (the Bonds ). The Bonds are being issued pursuant to a Resolution of the District dated January 11, 2005 (the District Resolution ). The District covenants and agrees as follows: SECTION 1. Purpose of the Disclosure Certificate. This Disclosure Certificate is being executed and delivered by the District for the benefit of the Holders and Beneficial Owners of the Bonds and in order to assist the Participating Underwriters in complying with S.E.C. Rule 15c2-12(b)(5). SECTION 2. Definitions. In addition to the definitions set forth in the Resolution, which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: Annual Report shall mean any Annual Report provided by the District pursuant to, and as described in, Sections 3 and 4 of this Disclosure Certificate. Beneficial Owner shall mean any person which (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as the owner of any Bonds for federal income tax purposes. Dissemination Agent shall mean initially the District, or any successor Dissemination Agent designated in writing by the District (which may be the District) and which has filed with the District a written acceptance of such designation. Holders shall mean registered owners of the Bonds. Listed Events shall mean any of the events listed in Section 5(a) of this Disclosure Certificate. National Repository shall mean any Nationally Recognized Municipal Securities Information Repository for purposes of the Rule. The National Repositories currently approved by the Securities and Exchange Commission is located at the web site Participating Underwriter shall mean UBS Financial Services Inc. and any of the original underwriters of the Bonds required to comply with the Rule in connection with offering of the Bonds. Repository shall mean each National Repository and each State Repository. Rule shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time. State shall mean the State of California. C-1

18 State Repository shall mean any public or private repository or entity designated by the State as a state repository for the purpose of the Rule and recognized as such by the Securities and Exchange Commission. As of the date of this Certificate, there is no State Repository. SECTION 3. Provision of Annual Reports. (a) The District shall, or shall cause the Dissemination Agent to, not later than nine months after the end of the District s fiscal year (which shall be April 1 of each year, so long as the District s fiscal year ends on June 30), commencing with the report for the fiscal year, provide to the Participating Underwriter and each Repository an Annual Report which is consistent with the requirements of Section 4 of this Disclosure Certificate. The Annual Report may be submitted as a single document or as separate documents comprising a package, and may cross-reference other information as provided in Section 4 of this Disclosure Certificate; provided that the audited financial statements of the District may be submitted separately from the balance of the Annual Report and later than the date required above for the filing of the Annual Report if they are not available by that date. If the District s fiscal year changes, it shall give notice of such change in the same manner as for a Listed Event under Section 5(c). (b) Not later than thirty (30) days (nor more that sixty (60) days) prior to said date the Dissemination Agent shall give notice to the District that the Annual Report shall be required to be filed in accordance with the terms of this Disclosure Certificate. Not later than fifteen (15) Business Days prior to said date, the District shall provide the Annual Report in a format suitable for reporting to the Repositories to the Dissemination Agent (if other than the District). If the District is unable to provide to the Repositories an Annual Report by the date required in subsection (a), the District shall send a notice to each Repository in substantially the form attached as Exhibit A with a copy to the Dissemination Agent. The Dissemination Agent shall not be required to file a Notice to Repositories of Failure to File an Annual Report. (c) The Dissemination Agent shall file a report with the District stating it has filed the Annual Report in accordance with its obligations hereunder, stating the date it was provided and listing all the Repositories to which it was provided. SECTION 4. Content of Annual Reports. The District s Annual Report shall contain or include by reference the following: 1. The audited financial statements of the District for the prior fiscal year, prepared in accordance with generally accepted accounting principles as promulgated to apply to governmental entities from time to time by the Governmental Accounting Standards Board. If the District s audited financial statements are not available by the time the Annual Report is required to be filed pursuant to Section 3(a), the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Report when they become available. 2. Material financial information and operating data with respect to the District of the type included in the Official Statement in the following categories (to the extent not included in the District s audited financial statements): (a) (b) State funding received by the District for the last completed fiscal year; average daily attendance of the District for the last completed fiscal year; C-2

19 (c) (d) (e) outstanding District indebtedness; tax delinquencies, to the extent the County is no longer on the Teeter Plan; and summary financial information on revenues, expenditures and fund balances for the District s general fund reflecting adopted budget for the current fiscal year. Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the District or related public entities, which have been submitted to each of the Repositories or the Securities and Exchange Commission. If the document included by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board. The District shall clearly identify each such other document so included by reference. SECTION 5. Reporting of Significant Events. (a) Pursuant to the provisions of this Section 5, the District shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material: 1. principal and interest payment delinquencies. 2. non-payment related defaults. 3. modifications to rights of Bondholders. 4. optional, contingent or unscheduled bond calls. 5. defeasances. 6. rating changes. 7. adverse tax opinions or events affecting the tax-exempt status of the Bonds. 8. unscheduled draws on the debt service reserves reflecting financial difficulties. 9. unscheduled draws on the credit enhancements reflecting financial difficulties. 10. substitution of the credit or liquidity providers or their failure to perform. 11. release, substitution or sale of property securing repayment of the Bonds. (b) Whenever the District obtains knowledge of the occurrence of a Listed Event, the District shall as soon as possible determine if such event would be material under applicable federal securities laws. (c) If the District determines that knowledge of the occurrence of a Listed Event would be material under applicable federal securities laws, the District shall promptly file a notice of such occurrence with the Repositories or provide notice of such reportable event to the Dissemination Agent in format suitable for filing with the Repositories. Notwithstanding the foregoing, notice of Listed Events described in subsections (a)(4) and (5) need not be given under this subsection any earlier than the notice (if any) of the underlying event is given to Holders of affected Bonds pursuant to the Resolution. The Dissemination Agent shall have no duty to C-3

20 independently prepare or file any report of Listed Events. The Dissemination Agent may conclusively rely on the District s determination of materiality pursuant to Section 5(b). SECTION 6. Termination of Reporting Obligation. The District s obligations under this Disclosure Certificate shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. If such termination occurs prior to the final maturity of the Bonds, the District shall give notice of such termination in the same manner as for a Listed Event under Section 5(a). SECTION 7. Dissemination Agent. The District may, from time to time, appoint or engage a Dissemination Agent (or substitute Dissemination Agent) to assist it in carrying out its obligations under this Disclosure Certificate, and may discharge any such Agent, with or without appointing a successor Dissemination Agent. The Dissemination Agent may resign upon fifteen (15) days written notice to the District. Upon such resignation, the District shall act as its own Dissemination Agent until it appoints a successor. The Dissemination Agent shall not be responsible in any manner for the content of any notice or report prepared by the District pursuant to this Disclosure Certificate and shall not be responsible to verify the accuracy, completeness or materiality of any continuing disclosure information provided by the District. The District shall compensate the Dissemination Agent for its fees and expenses hereunder as agreed by the parties. Any entity succeeding to all or substantially all of the Dissemination Agent s corporate trust business shall be the successor Dissemination Agent without the execution or filing of any paper or further act. SECTION 8. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Certificate, the District may amend this Disclosure Certificate, and any provision of this Disclosure Certificate may be waived, provided that the following conditions are satisfied: (a) If the amendment or waiver relates to the provisions of Sections 3(a), 4, or 5(a), it may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature or status of an obligated person with respect to the Bonds, or the type of business conducted; (b) The undertaking, as amended or taking into account such waiver, would, in the opinion of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of the original issuance of the Bonds, after taking into account any amendments or interpretations of the Rule, as well as any change in circumstances; (c) The amendment or waiver does not, in the opinion of nationally recognized bond counsel, materially impair the interests of the Holders or Beneficial Owners of the Bonds; and (d) No duties of the Dissemination Agent hereunder shall be amended without its written consent thereto. In the event of any amendment or waiver of a provision of this Disclosure Certificate, the District shall describe such amendment in the next Annual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type (or in the case of a change of accounting principles, on the presentation) of financial information or operating data being presented by the District. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, (i) notice of such change shall be given in the same manner as for a Listed Event under Section 5(a), and (ii) the Annual Report for the year in which the change is made should present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. C-4

21 SECTION 9. Additional Information. Nothing in this Disclosure Certificate shall be deemed to prevent the District from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Certificate. If the District chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Certificate, the District shall have no obligation under this Certificate to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event. SECTION 10. Default. In the event of a failure of the District to comply with any provision of this Disclosure Certificate any Holder or Beneficial Owner of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the District to comply with its obligations under this Disclosure Certificate. A default under this Disclosure Certificate shall not be deemed an event of default under the Resolution, and the sole remedy under this Disclosure Certificate in the event of any failure of the District to comply with this Disclosure Certificate shall be an action to compel performance. SECTION 11. Duties, Immunities and Liabilities of Dissemination Agent. The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Certificate. The Dissemination Agent acts hereunder solely for the benefit of the District; this Disclosure Certificate shall confer no duties on the Dissemination Agent to the Participating Underwriter, the Holders and the Beneficial Owners. The District agrees to indemnify and save the Dissemination Agent, its officers, directors, employees and agents, harmless against any loss, expense and liabilities which it may incur arising out of or in the exercise or performance of its powers and duties hereunder, including the costs and expenses (including attorneys fees) of defending against any claim of liability, but excluding liabilities due to the Dissemination Agent s gross negligence or willful misconduct. The obligations of the District under this Section shall survive resignation or removal of the Dissemination Agent and payment of the Bonds. The Dissemination Agent shall have no liability for the failure to report any event or any financial information as to which the District has not provided an information report in format suitable for filing with the Repositories. The Dissemination Agent shall not be required to monitor or enforce the District s duty to comply with its continuing disclosure requirements hereunder. SECTION 12. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of the District, the Dissemination Agent, the Participating Underwriters and Holders and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. Date: February 3, 2005 FREMONT UNION HIGH SCHOOL DISTRICT By Superintendent C-5

22 EXHIBIT A NOTICE TO REPOSITORIES OF FAILURE TO FILE ANNUAL REPORT Name of District: FREMONT UNION HIGH SCHOOL DISTRICT Name of Bond Issue: 2005 General Obligation Refunding Bonds Date of Issuance: February 3, 2005 NOTICE IS HEREBY GIVEN that the District has not provided an Annual Report with respect to the above-named Bonds as required by the Continuing Disclosure Certificate relating to the Bonds. The District anticipates that the Annual Report will be filed by. Dated: FREMONT UNION HIGH SCHOOL DISTRICT By [form only; no signature required] C-A-1

23 NEW ISSUE BOOK-ENTRY ONLY RATINGS: UNDERLYING: Moody s: Aa2 UNDERLYING: Standard & Poor s: AA+ (See MISCELLANEOUS Ratings herein). In the opinion of Orrick, Herrington & Sutcliffe LLP, Bond Counsel, based upon an analysis of existing laws, regulations, rulings and court decisions, and assuming, among other matters, the accuracy of certain representations and compliance with certain covenants, interest on the Bonds is excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986 and is exempt from State of California personal income taxes. In the further opinion of Bond Counsel, interest on the Bonds is not a specific preference item for purposes of the federal individual or corporate alternative minimum taxes, although Bond Counsel observes that such interest is included in adjusted current earnings when calculating federal corporate alternative minimum taxable income. Bond Counsel expresses no opinion regarding any other tax consequences related to the ownership or disposition of, or the accrual or receipt of interest on, the Bonds. See LEGAL MATTERS Tax Matters herein. $80,000,000 FREMONT UNION HIGH SCHOOL DISTRICT (Santa Clara County, California) General Obligation Bonds, Election of 2008, Series 2008 Dated: Date of Delivery Due: August 1, as shown on the inside cover The Election of 2008, Series 2008 (the Bonds ) are issued by (or) on behalf of the Fremont Union High School District (the District ), and the Board of Supervisors of Santa Clara County is empowered and is obligated to annually levy ad valorem taxes, without limitation as to rate or amount, upon all property subject to taxation within the District (except certain personal property which is taxable at limited rates), for the payment of interest on, and principal of, the Bonds, all as more fully described herein under THE BONDS and AD VALOREM PROPERTY TAXATION. Interest on the Bonds is payable semiannually on each February 1 and August 1 commencing February 1, The Bonds, when delivered, will be registered initially in the name of Cede & Co., as nominee of The Depository Trust Company ( DTC ), New York, New York. DTC will act as securities depository for the Bonds as described herein under THE BONDS Book-Entry System. The Bonds due on or before August 1, 2018, are not subject to optional redemption; the Bonds due on and after August 1, 2019, are subject to optional redemption as described herein under THE BONDS Redemption. The following firm, serving as financial advisor to the District, has structured this financing: MATURITY SCHEDULE (on inside front cover) Pursuant to the terms of a public sale on August 14, 2008, the Bonds were awarded to Goldman, Sachs & Company (the Underwriter ). The Bonds will be offered when, as and if issued by the District and received by the Underwriter, subject to the approval of legality by Orrick, Herrington & Sutcliffe LLP, San Francisco, California, Bond Counsel. It is anticipated that the Bonds, in book-entry form, will be available for delivery through The Depository Trust Company in New York, New York, on or about August 28, THIS COVER PAGE CONTAINS CERTAIN INFORMATION FOR QUICK REFERENCE ONLY. IT IS NOT A SUMMARY OF THIS ISSUE. INVESTORS MUST READ THE ENTIRE OFFICIAL STATEMENT TO OBTAIN INFORMATION ESSENTIAL TO THE MAKING OF AN INFORMED INVESTMENT DECISION. Official Statement Date: August 14, 2008

24 MATURITY SCHEDULE (Base CUSIP (1) : ) Maturity Principal Interest Price Maturity Principal Interest Price (August 1) Amount Rate or Yield CUSIP (1) (August 1) Amount Rate or Yield CUSIP (1) 2009 $1,300, % 1.480% TD $4,500, % 4.000% TP ,600, TE ,200, TQ ,000, TR , TF ,800, TS , TG , TH ,800, TT , TJ ,950, TU ,500, TK ,150, TV ,200, TL ,350, TW ,900, TM ,700, TN ,500, TZ8 $10,000, % Term Bonds due August 1, 2030, at 4.850% [CUSIP (1) : TX3] $10,450, % Term Bonds Due August 1, 2032, at 4.750% [CUSIP (1) : TY1] (1) Copyright 2008, American Bankers Association. CUSIP data herein is provided by Standard & Poor s CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. This Data is not intended to create a database and does not serve in any way as a substitute for the CUSIP Service. CUSIP numbers are provided for convenience of reference only. Neither the District nor the Underwriter takes any responsibility for the accuracy of such numbers.

25 APPENDIX C FORM OF CONTINUING DISCLOSURE CERTIFICATE This Continuing Disclosure Certificate (the Disclosure Certificate ) is executed and delivered by the Fremont Union High School District (the District ) in connection with the issuance of $80,000,000 aggregate principal amount of Fremont Union High School District General Obligation Bonds, Election of 2008, Series 2008 (the Bonds ). The Bonds are being issued pursuant to a resolution (the Resolution ) adopted by the Board of Supervisors of the County of Santa Clara (the County ) on August 12, 2008, at the request of the Board of Trustees of the District by its resolution adopted on July 22, The District covenants and agrees as follows: SECTION 1. Purpose of the Disclosure Certificate. This Disclosure Certificate is being executed and delivered by the District for the benefit of the Holders and Beneficial Owners of the Bonds and in order to assist the Participating Underwriters in complying with Securities and Exchange Commission Rule 15c2-12(b)(5). SECTION 2. Definitions. In addition to the definitions set forth in the Resolution, which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: Annual Report shall mean any Annual Report provided by the District pursuant to, and as described in, Sections 3 and 4 of this Disclosure Certificate. Beneficial Owner shall mean any person which has or shares the power, directly or indirectly, to make investment decisions concerning ownership of any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries). Dissemination Agent shall mean the District, or any successor Dissemination Agent designated in writing by the District and which has filed with the District a written acceptance of such designation. Holder shall mean the person in whose name any Bond shall be registered. Listed Events shall mean any of the events listed in Section 5(a) of this Disclosure Certificate. National Repository shall mean any Nationally Recognized Municipal Securities Information Repository for purposes of the Rule. The National Repositories currently approved by the Securities and Exchange Commission are set forth at Participating Underwriter shall mean any of the original underwriters of the Bonds required to comply with the Rule in connection with offering of the Bonds. Repository shall mean each National Repository and the State Repository. Rule shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time. State Repository shall mean any public or private repository or entity designated by the State of California as the state repository for the purpose of the Rule and recognized as such by the Securities and Exchange Commission, as listed at C-1

26 SECTION 3. Provision of Annual Reports. (a) The District shall, or shall cause the Dissemination Agent to, not later than nine months after the end of the District s fiscal year (currently ending June 30), commencing with the report for the Fiscal Year (which is due not later than April 30, 2009), provide to each Repository an Annual Report which is consistent with the requirements of Section 4 of this Disclosure Certificate. The Annual Report may be submitted as a single document or as separate documents comprising a package, and may cross-reference other information as provided in Section 4 of this Disclosure Certificate; provided, that the audited financial statements of the District may be submitted separately from the balance of the Annual Report and later than the date required above for the filing of the Annual Report if they are not available by that date. If the District s fiscal year changes, it shall give notice of such change in the same manner as for a Listed Event under Section 5(c). (b) Not later than 15 Business Days prior to said date, the District shall provide the Annual Report to the Dissemination Agent (if other than the District). If the District is unable to provide to the Repositories an Annual Report by the date required in subsection (a), the District shall send a notice to the Municipal Securities Rulemaking Board and the State Repository, if any, in substantially the form attached as Exhibit A. (c) The Dissemination Agent shall: (i) determine each year prior to the date for providing the Annual Report the name and address of each National Repository and the State Repository, if any; and (ii) (if the Dissemination Agent is other than the District), file a report with the District certifying that the Annual Report has been provided pursuant to this Disclosure Certificate, stating the date it was provided and listing all the Repositories to which it was provided. SECTION 4. Content of Annual Reports. The District s Annual Report shall contain or include by reference the following: * Audited financial statements of the District for the preceding fiscal year, prepared in accordance with the laws of the State of California and including all statements and information prescribed for inclusion therein by the Controller of the State of California. If the District s audited financial statements are not available by the time the Annual Report is required to be filed pursuant to Section 3(a), the Annual Report shall contain unaudited financial statements in a format similar to the financial statements contained in the final Official Statement, and the audited financial statements shall be filed in the same manner as the Annual Report when they become available. To the extent not included in the audited financial statement of the District, the Annual Report shall also include the following: * Adopted budget of the District for the current fiscal year, or a summary thereof. * District average daily attendance. * District outstanding debt. * Information regarding total assessed valuation of taxable properties within the District, if and to the extent provided to the District by the County. C-2

27 * Information regarding total secured tax charges and delinquencies on taxable properties within the District, if and to the extent provided to the District by the County. Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the District or related public entities, which have been submitted to each of the Repositories or the Securities and Exchange Commission. If the document included by reference is a final official statement, it must be available from the Municipal Securities Rulemaking Board. The District shall clearly identify each such other document so included by reference. SECTION 5. Reporting of Significant Events. (a) Pursuant to the provisions of this Section 5, the District shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material: 1. Principal and interest payment delinquencies; 2. Non-payment related defaults; 3. Unscheduled draws on debt service reserves reflecting financial difficulties; 4. Unscheduled draws on credit enhancements reflecting financial difficulties; 5. Substitution of credit or liquidity providers, or their failure to perform; 6. Adverse tax opinions or events affecting the tax-exempt status of the Bonds; 7. Modifications to rights of Bond holders; 8. Optional, unscheduled or contingent Bond calls; 9. Defeasances; 10. Release, substitution, or sale of property securing repayment of the Bonds; 11. Rating changes. (b) Whenever the District obtains knowledge of the occurrence of a Listed Event, the District shall as soon as possible determine if such event would be material under applicable federal securities laws. (c) If the District determines that knowledge of the occurrence of a Listed Event would be material under applicable federal securities laws, the District shall promptly file a notice of such occurrence with each National Repository or with the Municipal Securities Rulemaking Board, and with the State Repository. Notwithstanding the foregoing, notice of Listed Events described in subsections (a)(8) and (9) need not be given under this subsection any earlier than the notice (if any) of the underlying event is given to Holders of affected Bonds pursuant to the Resolution. SECTION 6. Electronic Filing. Submission of Annual Reports and notices of Listed Events to DisclosureUSA.org or another Central Post Office designated and accepted by the Securities and Exchange Commission shall constitute compliance with the requirement of filing such reports and notices with each Repository hereunder. C-3

28 SECTION 7. Termination of Reporting Obligation. The District s obligations under this Disclosure Certificate shall terminate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. If such termination occurs prior to the final maturity of the Bonds, the District shall give notice of such termination in the same manner as for a Listed Event under Section 5(c). SECTION 8. Dissemination Agent. The District may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate, and may discharge any such Agent, with or without appointing a successor Dissemination Agent. The Dissemination Agent shall not be responsible in any manner for the content of any notice or report prepared by the District pursuant to this Disclosure Certificate. The initial Dissemination Agent shall be the District. SECTION 9. Amendment; Waiver. Notwithstanding any other provision of this Disclosure Certificate, the District may amend this Disclosure Certificate, and any provision of this Disclosure Certificate may be waived, provided that the following conditions are satisfied: (a) If the amendment or waiver relates to the provisions of Sections 3(a), 4, or 5(a), it may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature or status of an obligated person with respect to the Bonds, or the type of business conducted; (b) The undertaking, as amended or taking into account such waiver, would, in the opinion of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of the original issuance of the Bonds, after taking into account any amendments or interpretations of the Rule, as well as any change in circumstances; and (c) The amendment or waiver does not, in the opinion of nationally recognized bond counsel, materially impair the interests of the Holders or Beneficial Owners of the Bonds. In the event of any amendment or waiver of a provision of this Disclosure Certificate, the District shall describe such amendment in the next Annual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type (or in the case of a change of accounting principles, on the presentation) of financial information or operating data being presented by the District. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, (i) notice of such change shall be given in the same manner as for a Listed Event under Section 5(c), and (ii) the Annual Report for the year in which the change is made should present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles. SECTION 10. Additional Information. Nothing in this Disclosure Certificate shall be deemed to prevent the District from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Certificate. If the District chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Certificate, the District shall have no obligation under this Certificate to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event. SECTION 11. Default. In the event of a failure of the District to comply with any provision of this Disclosure Certificate any Holder or Beneficial Owner of the Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the District to comply with its obligations under this Disclosure Certificate; provided, that any such action may be instituted only in Superior Court of the State of California in and for the County of Santa Clara or in U.S. C-4

29 District Court in or nearest to the County. The sole remedy under this Disclosure Certificate in the event of any failure of the District to comply with this Disclosure Certificate shall be an action to compel performance. SECTION 12. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit of the District, the Dissemination Agent, the Participating Underwriters and Holders and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. Date:. FREMONT UNION HIGH SCHOOL DISTRICT By [draft not for signature] Polly M. Bove Superintendent C-5

30 CONTINUING DISCLOSURE EXHIBIT A FORM OF NOTICE TO REPOSITORIES OF FAILURE TO FILE ANNUAL REPORT Name of District: Name of Bond Issue: Date of Issuance: FREMONT UNION HIGH SCHOOL DISTRICT FREMONT UNION HIGH SCHOOL DISTRICT GENERAL OBLIGATION BONDS, ELECTION OF 2008, SERIES NOTICE IS HEREBY GIVEN that the District has not provided an Annual Report with respect to the above-named Bonds as required by Section 4 of the Continuing Disclosure Certificate of the District, dated the Date of Issuance. [The District anticipates that the Annual Report will be filed by.] Dated: FREMONT UNION HIGH SCHOOL DISTRICT By [to be signed only if filed] C-6

31 NEW ISSUE - BOOK-ENTRY ONLY RATINGS: Moody's: Aal S&P: AA+ (See "MISCELLANEOUS-Ratings" herein.) In the opinion of Orrick, Herrington & Sutcliffe LLP, Bond Counsel to the District, based upon an analysis of existing laws, regulations, rulings, and court decisions, and assuming, among other matters, the accuracy ofcertain representations and compliance with certain covenants, interest on the Series 201lA and 201lB Bonds is excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of In the further opinion ofbond Counsel, interest on the Series 201lA and 201lB Bonds is not a specific preference item for purposes ofthe federal individual or cprporate alternative minimum taxes, although Bond Counsel observes that such interest is included in adjusted current earnings when calculating corporate alternative minimum taxable income. Bond Counsel is also of the opinion that interest on the Bonds is exempt from State of California personal income taxes. Bond Counsel further observes that interest on the Series 201lD Bonds is not excludedfrom gross incomefor federal income tax purposes. Bond Counsel expresses no opinion regarding any other tax consequences related to the ownership or disposition oj, or the accrual or receipt ofinterest on, the Bonds. See "TAX MATTERS." $69,995, FREMONT UNION HIGH SCHOOL DISTRICT (County of Santa Clara, State of California) GENERAL OBLIGATION BONDS (ELECTION OF 2008) $28,905,00 SERIES 2011A CURRENT INTEREST BONDS $16,090, SERIES 2011B CAPITAL APPRECIATION BONDS, $25,000,00 SERIES 2011D QUALIFIED SCHOOL CONSTRUCTION BONDS Dated: Date of Delivery Due: August 1, as shown on inside cover. This cover page is not a summary of this issue; it is only a reference to the information contained in this OjJicial Statement. Investors must read the entire OjJicial Statement to obtain information essential to the making ofan informed investment decision. The Fremont Union High School District General Obligation Bonds (Election of 2008) Series 20llA Current Interest Bonds (the "20llA Bonds"), the Fremont Union High School District General Obligation Bonds (Election of 2008) Series 20llB Capital Appreciation Bonds (the "2011B Bonds") and the Fremont Union High School District General Obligation Bonds (Election of 2008) Series 20llD Qualified School Construction Bonds (the "20llD Bonds," and together with the 20llA Bonds and 20llB Bonds, the "Bonds") are being issued by the Fremont Union High School District (the "District"), located in the County of Santa Clara (the "County") to finance specific construction and modernization projects approved by the voters and to pay costs ofissuance ofthe Bonds. The Board of Supervisors ofthe County is empowered and is obligated to levy ad valorem taxes upon all property subject to taxation by the District, without limitation as to rate or amount (except as to certain personal property which is taxable at limited rates), for the payment of principal of and interest on the Bonds, all as more fully described herein. See "SECURITY AND SOURCE OF PAYMENT FOR THE BONDS." The 20llA Bonds will be issued as current interest bonds (the "Current Interest Bonds"), the 20llB Bonds will be issued as capital appreciation bonds (the "Capital Appreciation Bonds") and the 20llD Bonds will be issued as qualified school construction bonds (the "Qualified School Construction Bonds"). Interest onthe Current Interest Bonds and Qualified School Construction Bonds is payable commencing on August 1, 2011, and thereafter on each February 1 and August 1 to maturity or redemption prior thereto. Principal ofthe Current Interest Bonds and Qualified School Construction Bonds is payable on August 1 in each ofthe years and in the amounts set forth in the Maturity Schedule below. The Capital Appreciation Bonds will not bear current interest but will increase in value by the accumulation of earned interest from their principal amounts on the date of delivery to their respective Maturity Values at maturity. Interest on the Capital Appreciation Bonds will be compounded on February 1 and August 1 of each year, commencing August 1, Principal and accrued interest will be payable only at maturity as shown in the table below or upon redemption prior thereto. Payments ofprincipal ofand interest on the Bonds will be made by the Paying Agent (initially, U.S. Bank National Association) to the Depository Trust Company, New York, New York ("DTC"), for subsequent disbursement to DTC Participants, who will remit such payments to the beneficial owners of the Bonds. See "THE BONDS-Payment of Principal and Interest" herein. The Bonds will be issued in book-entry form only, andinitially will be issued and registered in the name ofcede & Co., as nominee ofdtc. Purchasers will not receive certificates representing their interests in the Bonds. See "THE BONDS-Form and Registration" herein. The Bonds are subject to redemption, as more fully described herein. See "THE BONDS-Redemption." Morgan Stanley The Bonds wiu be offered when, as andifissued by the County on behalfofthe District and received by the Underwriter, subject to approval of their legality by Orrick, Herrington & Sutcliffe LLP, Bond Counsel to the District. Certain legal matters will be passed upon for the District by Orrick, Herrington & Sutcliffe UP, as Disclosure Counsel; and for the Underwriter by Fulbright & Jaworski, L.L.P., Los Angeles, California. It is anticipated that the Bonds, in book-entt'y form, will be available for delivery throughdtc in New York, New York, on or about March 23,2011. This Official Statement is dated March 10, 2011.

32 $28,905,00 FREMONT UNION HIGH SCHOOL DISTRICT (County ofsanta Clara, State ofcalifornia) GENERAL OBLIGAnON BONDS (ELECTION OF 2008) SERIES 2011A CURRENT INTEREST BONDS MATURITY SCHEDULE $4,610, ACurrentInterestBonds Maturity Date (August I) Principal Amount Interest Rate Yield CUSIP* Number $2,705,00 1,905, % % UFO UG8 $24,295, % Term Bond due August 1,2044; Yield 5.500%; CUSIp Number UH6 Copyright, American Bankers Association. CUSIP numbers have been assigned by Standard & Poor's CUSIP Service Bureau and are provided solely for the convenience ofthe holders ofthe Bonds. The District is not responsible for the selection or uses ofthese CUSIP numbers, nor is any representation made as to their correctness on the Bonds or as indicated above. The CUSIP numbers are subject to change afterthe issuance ofthe Bonds as a result ofvarious subsequentactions.

33 $16,090, FREMONT UNION HIGH SCHOOL DISTRICT (County ofsanta Clara, State ofcalifornia) GENERAL OBLIGATION BONDS (ELECTION OF 2008) SERIES 2011B CAPITAL APPRECIATION BONDS MATURITY SCHEDULE Maturity Date Initial Principal Accretion Reoffering Maturity CUSIP* (August 1) Amount Rate Yield Value Number 2026 $ 212, % 6.050% $ 1,275, UJ , ,705, UK , ,120, UL , ,305, VM , ,785, UN , ,435, UXI , ,930, UY , ,520, UP ,804, ,290, UQ ,753, ,845, UR ,706, ,410, US ,663, ,005, UTO ,619, ,665, UU ,565, ,290, UV ,518, ,960, UW3 * Copyright, American Bankers Association. CUSIP numbers have been assigned by Standard & Poor's CUSIP Service Bureau and are provided solely for the convenience ofthe holders ofthe Bonds. The District is not responsible for the selection or uses ofthese CUSIP numbers, nor is any representation made as to their correctness on the Bonds or as indicated above. The CUSIP numbers are subject to change after the issuance ofthe Bonds as a resultof various subsequent actions.

34 APPENDIXD FORM OF CONTINUING DISCLOSURE CERTIFICATE Fremont Union High School District General Obligation Bonds (Election of2008) Series 2011A Current Interest Bonds Series 2011B Capital Appreciation Bonds Series 2011D Qualified School Construction Bonds This Continuing Disclosure Certificate (the "Disclosure Certificate") is executed and delivered by the Fremont Union High School District (the "District") in connection with the issuance of $28,905,00 aggregate initial principal amount offremont Union High School District General Obligation Bonds (Election of2008) Series 2011A Current Interest Bonds (the "2011A Bonds"), $16,090, aggregate initial principal (denominational) amount of Fremont Union High School District General Obligation Bonds (Election of 2008) Series 20 lib Capital Appreciation Bonds (the "2011B Bonds") and $25,000,00 aggregate initial principal amount offremont Union High School District General Obligation Bonds (Election of 2008) Series 20 lid Qualified School Construction Bonds (the "201ID Bonds," and together with the 2011A Bonds and 2011B Bonds, the "Bonds"). The District covenants and. agrees as follows: SECTION 1. Purpose of the Disclosure Certificate. This Disclosure Certificate is being executed and delivered by the District for the benefit ofthe Holders and Beneficial Owners ofthe Bonds and in order to assist the Participating Underwriters in complying with Securities and Exchange Commission ("S.E.c.") Rule 15c2-12(b)(5). SECTION 2. Definitions. In addition to the definitions set forth in the Resolution, which apply to any capitalized term used in this Disclosure Certificate unless otherwise defined in this Section, the following capitalized terms shall have the following meanings: "Annual Report" shall mean any Annual Report provided by the District pursuant to, and as described in, Sections 3 and 4 ofthis Disclosure Certificate. "Beneficial Owner" shall mean any person which has or shares the power, directly or indirectly, to make investment decisions concerning ownership of any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries).."dissemination Agent" shall mean the District, or any successor Dissemination Agent designated in writing by the District and which has filed withthe District a written acceptance ofsuch designation. "Holder" shall mean the person in whose name any Bond shall be registered. "Listed Events" shall mean any of the events listed in Section 5(a) and (b) ofthis Disclosure Certificate. "MSRB" shall mean the Municipal Securities Rulemaking Board or any other entity designated or authorized by the Securities and Exchange Commission to receive reports pursuant to the Rule. Until otherwise designated by the MSRB or the Securities and Exchange Commission, filings with the MSRB are to be made through the Electronic Municipal Market Access (EMMA) website of the MSRB, currently located at "Participating Underwriter" shall mean any of the original underwriters of the Bonds required to comply with the Rule in connection with offering ofthe Bonds. "Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time. D-l

35 SECTION 3. Provisionof Annual Reports. (a) The District shall, or shall cause the Dissemination Agent to, not later than nine months after the end of the District's fiscal year (currently ending June 30), commencing with the report for the Fiscal Year (which is due not later than March 26, 2012), provide to the MSRB an Annual Report which is consistent with the requirements of Section 4 of this Disclosure Certificate. The Annual Report must be submitted in electronic format, accompanied by such identifying information as is prescribed by the MSRB, and may crossreference other information as provided in Section 4 of this Disclosure Certificate; provided, that the audited financial statements of the District may be submitted separately from the balance of the Annual Report and later than the date required above for the filing of the Annual Report if they are not available by that date. If the District's fiscal year changes, it shall give notice of such change in the same manner as for a Listed Event under Section 5(e). (b) Not later than 15 business days prior to said date, the District shall provide the Annual Report to the Dissemination Agent (if other than the District). If the District is unable to provide to the MSRB an Annual Report by the date required in subsection (a), the District shall send a notice to the MSRB in substantially the form attached as Exhibit A. (c) The Dissemination Agent shall (ifthe Dissemination Agent is other than the District), file a report with the District certifying that the Annual Report has been provided pursuant to this Disclosure Certificate, stating the date it was provided to the MSRB. SECTION 4. reference the following: Content of Annual Reports. The District's Annual Report shall contain or include by * Audited fmancial statements of the District for the preceding fiscal year, prepared in accordance with the laws of the State of California and including all statements and information prescribed for inclusion therein by the Controller of the State of California. If the District's audited financial statements are not available by the time the Annual Report is required to be provided to the MSRB pursuant to Section 3(a), the Annual Report shall contain unaudited fmancial statements in a format similar to the financial statements contained in the fmal Official Statement, and the audited fmancial statements shall be provided to the MSRB in the same manner as the Annual Report when they become available. To the extent not included in the audited financial statement ofthe District, the Annual Report shall also include the following: * * * * * Adopted budget ofthe District for the current fiscal year, or a summary thereof. District average daily attendance. District outstanding debt. Information regarding total assessed valuation oftaxable properties within the District, if and to the extent provided to the District by the County. Information regarding total secured tax charges and delinquencies on taxable properties within the District, ifand to the extent provided to the District by the County. Any or all ofthe items listed above may be set forth in one or a set of documents or may be included by specific reference to other documents, including official statements of debt issues of the District or related public entities, which are available to the public on the MSRB website. Ifthe document by reference is a final official statement, it must be available from the MSRB. The District shall clearly identify each such other document so included by reference. D-2

36 SECTION 5. Reporting ofsignificant Events. (a) The District shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds not later than ten business days after the occurrence ofthe event: 1. Principal and interest payment delinquencies; 2. Unscheduled draws on debt service reserves reflecting financial difficulties; 3. Unscheduled draws on credit enhancements reflecting fmancial difficulties; 4. Substitution of credit or liquidity providers, or their failure to perform; 5. Issuance by the Internal Revenue Service ofproposed or fmal determination oftaxability or ofa Notice ofproposed Issue (IRS Form 5701 TEB); 6. Tender offers; 7. Defeasances; 8. Rating changes; or 9. Bankruptcy, insolvency, receivership or similar event ofthe obligated person. Note: for the purposes ofthe event identified in subparagraph (9), the event is considered to occur when any ofthe following occur: the appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confmning a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person. (b) The District shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material, not later than ten business days after the occurrence of the event: 1. Unless described in paragraph 5(a)(5), adverse tax opinions or other material notices or determinations by the Internal Revenue Service with respect to the tax status ofthe Bonds or other material events affecting the tax status ofthe Bonds; 2. Modifications to rights ofbond holders; 3. Optional, unscheduled or contingent Bond calls; 4. Release, substitution, or sale ofproperty securing repayment ofthe Bonds; 5. Non-payment related defaults; 6. The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course ofbusiness, the entry into a defmitive agreement to undertake D-3

37 such an action or the tennination of a definitive agreement relating to any such actions, other than pursuant to its tenns; or 7. Appointment of a successor or additional paying agent or the change ofname of a paying agent. (c) The District shall give, or cause to be given, in a timely manner, notice of a failure to provide the annual financial infonnation on or before the date specified in Section 4. (d) Whenever the District obtains knowledge of the occurrence of a Listed Event described in Section 5(b), the District shall detennine ifsuch event would be material under applicable federal securities laws. (e) If the District learns of the occurrence of a Listed Event described in Section 5(a), or detennines that knowledge of a Listed Event described in Section 5(b) would be material under applicable federal securities laws, the District shall within ten business days of occurrence file a notice of such occurrence with the MSRB in electronic fonnat, accompanied by such identifying infonnation as is prescribed by the MSRB. Notwithstanding the foregoing, notice of the Listed Event described in subsection (b)(3) need not be given under this subsection any earlier than the notice (if any) of the underlying event is given to Holders of affected Bonds pursuant to the Resolution. SECTION 6. Tennination of Reporting Obligation. The District's obligations under this Disclosure Certificate shall tenninate upon the legal defeasance, prior redemption or payment in full of all of the Bonds. If such tennination occurs prior to the fmal maturity ofthe Bonds, the District shall give notice of such tennination in the same manner as for a Listed Event under Section 5(e). SECTION 7. Dissemination Agent. The District may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Certificate, and may discharge any such Agent, with or without appointing a successor Dissemination Agent. The Dissemination Agent shall not be responsible in any manner for the content of any notice or report prepared by the District pursuant to this Disclosure Certificate. The initial Dissemination Agent shall be the District. SECTION 8. Amendment; Waiver. Notwithstanding any other provision ofthis Disclosure Certificate, the District may amend this Disclosure Certificate, and any provision ofthis Disclosure Certificate may be waived, provided that the following conditions are satisfied: (a) Ifthe amendment or waiver relates to the provisions of Sections 3(a), 4, or 5(a) or (b), it may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law, or change in the identity, nature or status of an obligated person with respect to the Bonds, or the type ofbusiness conducted; (b) The undertaking, as amended or taking into account such waiver, would, in the opinion of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of the original issuance ofthe Bonds, after taking into account any amendments or interpretations ofthe Rule, as well as any change in circumstances; and (c) The amendment or waiver does not, in the opinion ofnationally recognized bond counsel, materially impair the interests ofthe Holders or Beneficial Owners ofthe Bonds. In the event of any amendment or waiver of a provision of this Disclosure Certificate, the District shall describe such amendment in the next Annual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type (or in the case of a change of accounting principles, on the presentation) of financial infonnation or operating data being presented by the District. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements, (i) notice of such change shall be given in the same manner as for a Listed Event under Section 5(c), and (ii) the Annual Report for the year in which the change is made should present a comparison (in narrative fonn and also, if feasible, in quantitative D-4

38 form) between the fmancial statements as prepared on the basis ofthe new accounting principles and those prepared on the basis ofthe former accounting principles. SECTION 9. Additional Information. Nothing in this Disclosure Certificate shall be deemed to prevent the District from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in any Annual Report or notice ofoccurrence of a Listed Event, in addition to that which is required by this Disclosure Certificate. Ifthe District chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Certificate, the District shall have no obligation under this Certificate to update such information or include it in any future Annual Report or notice ofoccurrence of a Listed Event. SECTION 10. Default. In the event of a failure of the District to comply with any provision of this Disclosure Certificate any Holder or Beneficial Owner ofthe Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the District to comply with its obligations under this Disclosure Certificate; provided, that any such action may be instituted only in Superior Court of the State of California in and for the County of Santa Clara or in U.S. District Court in or nearest to the County. The sole remedy under this Disclosure Certificate in the event of any failure ofthe District to comply with this Disclosure Certificate shall be an action to compel performance. SECTION 11. Beneficiaries. This Disclosure Certificate shall inure solely to the benefit ofthe District, the Dissemination Agent, the Participating Underwriters and Holders and Beneficial Owners from time to time of the Bonds, and shall create no rights in any other person or entity. Date: _ FREMONT UNION HIGH SCHOOL DISTRICT By --L:[dr""""'a~ft'_- 'n"'o"'t'_'fi""'or'_"'si~gn""a""tur=_'e~l _ Superintendent D-5

39 CONTINUING DISCLOSURE EXHIBIT A FORM OF NOTICE TO THE MUNICIPAL SECURITIES RULEMAKlNG BOARD OF FAILURE TO FILE ANNUAL REPORT Name ofdistrict: Name ofbond Issues: FREMONT UNION HIGH SCHOOL DISTRICT FREMONT UNION HIGH SCHOOL DISTRICT GENERAL OBLIGATION BONDS (ELECTION OF 2008) SERIES 2011A CURRENT INTEREST BONDS FREMONT UNION HIGH SCHOOL DISTRICT GENERAL OBLIGATION BONDS (ELECTION OF 2008) SERIES 2011B CAPITAL APPRECIATION BONDS FREMONT UNION HIGH SCHOOL DISTRICT GENERAL OBLIGATION BONDS (ELECTION OF 2008) SERIES 201lD QUALIFIED SCHOOL CONSTRUCTION BONDS Date oflssuance: NOTICE IS HEREBY GIVEN that the District has not provided an Annual Report with respect to the above-named Bonds as required by Section 4 of the Continuing Disclosure Certificate of the District, dated the Date ofissuance. [The District anticipates that the Annual Report will be filed by.] Dated:. _ FREMONT UNION HIGH SCHOOL DISTRICT By [to be signed only iffiled] D-6

40 APPENDIXE SANTA CLARA COUNTY STATEMENT OF INVESTMENT POLICY AND QUARTERLY INVESTMENT REPORT The following iriformation has been furnished by the Office ofthe Director offinance, County ofsanta Clara. It describes (i) the policies applicable to investment of District funds, including bond proceeds and tax levies, and funds ofother agencies held by the Director offinance and (ii) the composition, carrying amount, market value and other information relating to the investment pool. Further iriformation may be obtained directly from the Director offinance, County ofsanta Clara, 70 W Hedding Street, 9th Floor, E. Wing, San Jose, CA

41 Fremont Union High School District 2012 Continuing Disclosure Annual Report E. List of Significant Events The District shall give or cause to be given notice of the occurrence of any of the following events, if material: 1. Principal and interest payment delinquencies. 2. Non-payment related defaults. 3. Unscheduled draws on debt service reserves reflecting financial difficulties. 4. Unscheduled draws on credit enhancements reflecting financial difficulties. S. Substitution of credit or liquidity providers, or their failure to perform. 6. Adverse tax opinions or events affecting the tax-exempt status of the security. 7. Modifications to rights of security holders. 8. Contingent or unscheduled bond calls. 9. Defeasances. 10. Release, substitution, or sale of property securing repayment of the securities. 11. Rating changes. Since the filing of the last continuing disclosure annual report, the District's rating has been upgraded by Standard & Poor's to "AAA." A significant events notice was filed on the EMMA website on January 22, We have reviewed the above list and are acknowledging that none of the above listed significant events (other than described above) have occurred since the filing of the last continuing disclosure annual report. Title C{310/ /1) SObtl.'. Fremont Union High Schooi" istrict -"--~,--'11-->...r~--bb,,L--U_(]~-=--...> '. Title: Vice President KNN Public Finance A Division ofzions First National Bank Date / /~

42 Fremont Union High School District 2012 Continuing Disclosure Annual Report F. Audited Financial Statements for Year Just Ended June 30, 2012 Page 14

43 FREMONT UNION HIGH SCHOOL DISTRICT ANNUAL FINANCIAL REPORT JUNE 30, 2012

44 FREMONT UNION HIGH SCHOOL DISTRICT TABLE OF CONTENTS JUNE 30, 2012 FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis Basic Financial Statements Govermnent-Wide Financial Statements Statement ofnet Assets Statement ofactivities Fund Financial Statements Govermnental Funds - Balance Sheet Reconciliation ofthe Governmental Funds Balance Sheet to the Statement ofnet Assets Govermnental Funds - Statement ofrevenues, Expenditures, and Changes in Fund Balance Reconciliation ofthe Governmental Funds Statement ofrevenues, Expenditures, and Changes in Fund Balances to the Statement of Activities Proprietary Fund - Statement ofnet Assets Proprietary Fund - Statement ofrevenues, Expenses, and Changes in Net Assets Proprietary Fund - Statement of Cash Flows Fiduciary Funds - Statement ofnet Assets Fiduciary Funds - Statement ofchanges in Net Assets Notes to Financial Statements REQUIRED SUPPLEMENTARYINFORMATION General Fund - Budgetary Comparison Schedule Schedule of OPEB Funding Progress SUPPLEMENTARYINFORMATION Schedule ofexpenditrnes offederal Awards Local Education Agency Organization Stmcture Schedule ofaverage Daily Attendance Schedule of Instmctional Time Reconciliation ofannual Financial and Budget Report with Audited Financial Statements Schedule offinancial Trends and Analysis Combining Statements - Non-Major Govermnental Funds Combining Balance Sheet Combining Statement ofrevenues, Expenditures, and Changes in Fund Balance Note to Supplementary Information INDEPENDENTAUDITOR'S REPORTS Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Report on Compliance With Requirements That Could Have a Direct and Material Effect on Each Major Program and on Internal Control Over Compliance in Accordance With OMB Circular A-133 Report on State Compliance

45

46 FREMONT UNION HIGH SCHOOL DISTRICT TABLE OF CONTENTS JUNE 30,2012 SCHEDULE OF FINDINGSAND QUESTIONED COSTS Summary ofauditor's Results Financial Statement Findings Federal Awards Findings and Questioned Costs State Awards Findings and Questioned Costs Summary Schedule ofprior Audit Findings

47

48 FINANCIAL SECTION

49

50 Vavrinek, Trine,!lay &Co., llp Certified P'ublic Accountants &~" \~' ~" "''',MALLiE THE DIFFERENCE 6!""~~",,,, ~ INDEPENDENT AUDITOR'S REPORT Governing Board Fremont Union High School District Sunnyvale, California We have audited the accompanying financial statements ofthe governmental activities, each major fund, and the aggregate remaining fund information ofthe Fremont Union High School District (the "District") as ofand for the year ended June 30, 2012, which collectively comprise the District's basic financial statements as listed in the table of contents, These fmancial statements are the responsibility of the District's management, Our responsibility is to express opinions on these fmancial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States ofamerica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Standards and Procedures for Audits of California K-12 Local Educational Agencies , issued by the California Education Audit Appeals Panel as regulations. 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 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 previously present fairly, in all material respects, the respective financial position of the govermnental activities, each major fund, and the aggregate remaining fund information ofthe Fremont Union High School District, as of June 30, 2012, and the respective changes in fmancial position, and, where applicable, cash flows thereof for the year then ended in conformity with accounting principles generally accepted in the United States ofamerica. In accordance with Government Auditing Standards, we have also issued our report dated November 7,2012, on our consideration ofthe District's internal control over fmancial 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 ofour audit. Accounting principles generally accepted in the United States ofamerica require that the required supplementary information, such as the management's discussion and analysis, schedule of other post employment benefits and budgetary comparison information be presented to supplement the basic fmancial 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 offinancial 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 Sheridan Avenue, SUite 440 Palo Alto, CA Tel: Fax: FRESNO LAGUNA HILLS 0 PALO ALTO a PLEASANTON RANCHO CUCAMONGA RIVERSIDE SACRAMENTO

51 Our audit was conducted for the purpose of forming opiilions on the financial statements that collectively comprise the Districfs financial statements. The Schedule of Expenditures of Federal Awards, as required by Office of Management and Budget Circular A-B3, Audits of State, Local Governments, and Non-Profit Organizations, and other supplementary information listed in the table of contents are presented for purposes of additional analysis and are not a required part ofthe [mancial statements. Such information is the responsibility ofmanagement and was derived from and relates directlyto the underlying accounting and other records used to prepare the [mancial 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 accouuting and other records used to prepare the [mancial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States ofamerica. In our opinion, the supplementary information is fairly stated in all material respects in relation to the [mancial statements as a whole. ~~~~~~M/J Palo Alto, California November 7,

52 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 This section of Fremont Union High School District's (FUHSD) annual financial report presents management's discussion and analysis ofthe District's fmancial performance during the fiscal year that ended on June 30,2012. Please read it in conjunction with the District's financial statements, which immediately follow this section. Comparative analyses are presented in the tables that follow: OVERVIEW OF THE FINANCIAL STATEMENTS The Financial Statements The financial statements presented herein include all of the activities of the Fremont Union High School District (the District) using the integrated approach as prescribed by GASB Statement Number 34. The Government-Wide Financial Statements present the financial picture of the District from the economic resources measurement focus using the accrual basis of accounting and include the governmental activities. These statements include all assets of the District (including capital assets) as well as all liabilities (including long-term debt). Additionally, certain eliminations have occurred as prescribed by the statement in regards to interfund activity, payables and receivables. The Fund Financial Statements include statements for each of the three categories of activities: proprietary, and fiduciary. goverrlinenlal, The Governmental Activities are prepared nsing the current financial resources measurement focus and modified accrual basis ofaccounting. The Fiduciary Activities are prepared using the economic resources measurement focus and the accrual basis of accounting. Reconciliation of the Fund Financial Statements to the Government-Wide Financial Statements is provided to explain the differences created by the integrated approach. The financial statements also include notes that explain some of the information in the statements and provide detailed data. The statements are followed by a section of required supplementary budget information that further explains and supports the financial statements. The Primary unit ofthe government is the Fremont Union High School District. 4

53 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 FINANCIAL HIGHLIGHTS OF THE PAST YEAR Fiscal year showed to be another year of tremendous fiscal uncertainty. The State continued to reduce categorical funding to the District iu the form ofa "fair share". The District continues to rely upon the $5.2 million received annually from the parcel tax that was originally approved by the voters in November On May 4, 20 I0, District voters renewed the parcel tax for a period of six years. In accordance with the ballot language, the funds are used to preserve core academic classes and retain experienced teachers. The District has been careful to track the particular programs funded through parcel tax revenues. The Measure B bond is a $198 million bond measure approved by the voters on June 3, The District issued the second series of bonds nnder this authorization of $70 million. As part of the Series 2011 bond issuance, the District was able to take advantage of the Qualified School Construction Bond (QSCB) program. The District's QSCBs attracted approximately $14.6 million in federal subsidy dollars to off-set interest costs over time. The District chose to pass the entire benefit from the federal snbsidy to its taxpayers to off-set the taxable interest expense. The rigorous residency verification program continued in , and the District remains committed to this effort. The relationship with all bargaining units continues to be positive and collaborative. Once again, the running of the Revenne Sharing formula was postponed, in order to allow the District to close the books and review the multi-year projections. The District's ratings are amongst the highest for California's school districts. Moody's affirmed the District's Aal rating and Standard & Poor's affirmed the Districts "AA+" rating. REPORTING THE DISTRICT AS A WHOLE The Statement ofnet Assets and the Statement ofactivities The Statement ofnet Assets and the Statement ofactivities report information about the District as a whole and about its activities. These statements include all assets and liabilities of the District using the accrual basis of accounting, which is similar to the accounting used by most private-sector companies. All of the current year's revenues and expenses are taken into account regardless ofwhen cash is received or paid. These two statements report the District's net assets and changes in them. Net assets are the difference between assets and liabilities, and are one way to measure the District's financial health, or financial position. Over time, increases or decreases in the District's net assets are one indicator of whether its financial health is improving or deteriorating. Other factors to consider are changes in the District's property tax base and the condition of the District's facilities. The relationship between revenues and expenses is shown in the District's operating results. Since the Board's responsibility is to provide services to students and not to generate profit as commercial entities do, one must consider other factors when evaluating the overall health of the District. The quality of education and the safety of our schools will likely be an important component in this evaluation. 5

54 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 In the Statement ojnet Assets and the Statement ojactivities, we include the District activities as follows: Governmental activities - All of the District's services are reported in this category. This includes the education of kindergarten through twelfth grade students, adult education students, the operation of child development activities, and the on-going effort to improve and maintain buildings and sites. Property taxes, state income taxes, user fees, interest income, Federal, state, and local grants, as well as general obligation bonds, finance these activities. REPORTING THE DISTRICT'S MOST SIGNIFICANT FUNDS Fund Financial Statements The fund financial statements provide detailed infonnation about the most significant funds - not the District as a whole. Some funds are required to be established by State law and by bond covenants. However, management establishes many other funds to help it control and manage money for particular purposes or to show that it is meeting legal responsibilities for using certain taxes, grants, and other money that it receives from the U.S. and California Departments ofeducation. Governmental funds - Most of the District's basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances left at year-end that are available for spending. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental fund statements provide a detailed short-term view of the District's general government operations and the basic services it provides. Governmental fund infonnation helps detennine whether there are more or fewer financial resources that can be spent in the near future to finance the District's programs. The differences in results between the governmental fund financial statements to those in the government-wide financial statements are explained in a reconciliation following each governmental fund financial statement. Proprietary funds - When the District charges users for the services it provides, whether to outside customers or to other departments within the District, these services are generally reported in proprietary funds. Proprietary funds are reported in the same way that all activities are reported in the Statement ojnet Assets and the Statement ojrevenues, Expenses and Changes in Fund Net Assets. We use internal service funds (a type of proprietary funds) to report activities that provide supplies and services for the District's other programs and activities - such as the District's Self-Insurance Fund. The internal service funds are reported with governmental activities in the government-wide financial statements. THE DISTRICT AS TRUSTEE Reporting the District's Fiduciarv Responsibilities The District is the trustee, or fiduciary, for funds held on behalf of others, like the funds for associated student body activities. The District's fiduciary activities are reported in the Statements ojfiduciary Net Assets. These activities are excluded from the District's other financial statements because the District cannot use these assets to finance its operations. The District is responsible for ensuring that the assets reported in these funds are used for their intended purposes. 6

55 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 THE DISTRICT AS A WHOLE Net Assets The District's net assets were $ million for the fiscal year ended June 30, Ofthis amount, $38.70 million was unrestricted. Restricted net assets are reported separately to show legal constraints from debt covenants and enabling legislation that limit t:.j,e School Board's ability to use those net assets for day-to-<1ay operations. The analysis below focuses on net assets (Table 1) and the change in net assets (Table 2) of the District's governmental activities. TABLE 1 (Amounts in millions) CHANGE Current and other assets $ $ $ (11.31) Capital assets Total Assets Current liabilities Long-term liabilities (4.72) Total Liabilities Net assets Invested in capital assets, net ofrelated debts (20.62) Restricted Unrestricted Total Net Assets $ $ $ 9.11 The $38.70 million in unrestricted net assets of governmental activities represents the accumulated results of all past years' operations. It means that if the District had to payoff all of its bills today including all of its noncapital liabilities (compensated absences as an example), there would be $38.70 million remaining. Though listed as unrestricted for purposes of this report, the $38.70 million in net assets are committed or assigned to various programs ofthe school district. 7

56 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 Changes in Net Assets The results ofthis year's operations for the District as a whole are reported in the Statement ofactivities on page 14. Table 2 takes the information from the Statement, rounds off the numbers, and rearranges them slightly so you can see the total revenues for the year. (Amounts in millions) TABLE 2 REVENUES CHANGE Program revenues: Charges for services $ 0.10 $ 0.52 $ 0.42 Operating grants and contributions Capital grants and contributions General revenues: Federal aud state sources (2.82) Property taxes Other general revenue Total revenues EXPENSES Instruction Instruction-related services Pupil services General administration Plant services Ancillary services (0.03) Interest on long-term debt Other outgo (0.07) Total Expenditures NET CHANGE IN ASSETS $ 8.60 $ 9.10 $ 050 Governmental Activities As reported in the Statement ofactivities on page 14 the cost of all governmental activities this year was $ million. However, the amount that the taxpayers ultimately financed for these activities through local taxes was $ million because the cost was paid by those who benefited from the programs or by other governments and organizations who subsidized certain programs with grants and contributions ($10.85 million). The District paid for the remaining "public benefit" portion of our governmental activities with $18.60 million in state revenue limit sources, State funds and with other revenues, like interest and general entitlements. 8

57 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 Table 3 below presents the net cost of each of the District's largest functions. As discussed above, net cost shows the financial burden that was placed on the District's taxpayers by each of these functions. Providing this infonnation allows citizens to consider the cost of each function in comparison to the benefits they believe are provided by that function. TABLE 3 (Amounts in millions) CHANGE Instruction $ $ $ (0.58) Instruction-related services: Supervision of instruction Instructional library, media and technology (0.06) School administration Pupil Services: Home-to-school transportation Food services All other pupil services (0.23) General administration: Data processing All other general administration Plant services Ancillary services (0.05) Interest on long-tenn debt Other outgo (1.35) (1.35) TOTAL NET COST $ $ $ 3.53 Other General Administration activities include fiscal services, personnel services, and central support services. This category includes attendance recording and reporting activities perfonned at the District level. This category also includes all other costs of property or general liability insurance not charged to a specific function. In addition, the costs of assistant superintendents for instruction or equivalent positions having first-line responsibility for instructional administration and for participation in district/county policy may be charged as follows: 50 percent to Instructional Supervision and Administration (Function 2100) 50 percent to Other General Administration (Function 7200) 9

58 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 THE DISTRICT'S FUNDS As the District completed this year, governmental funds had a reported combined fund balance of $ million, which is a decrease of$27.88 million from last year. The primary reasons for these changes are: a) The General Fund is the principal operating fund. The fund balance in the General Fund decreased from $24.5 million to $21.5 million. This increase was primarily due to the exclusion of the Adult Education and Deferred Maintenance Funds in the General fund. b) The Building fund showed a decrease from $ million to $68.20 million. This was primarily due to spending down the bond proceeds for modernization projects. c) The Bond Interest and Redemption fund increased from $13.08 million to $16.64 million. This was primarily due to an increase in funds set aside for future debt redemption associated with the new bond sale. General Fund Budgetary Highlights The Education Code requires that all school districts adopt a budget by July I, and then twice a year submit to their County Offices of Education interim financial reports. These first and second interim reports reflect the status ofdistrict finances as of October 31 and January 3I. Year-end actuals are submitted by September 15. Over the course of the year, the District revises its budget as it attempts to deal with unexpected changes in revenues and expenditrues. The final amendment to the budget was adopted on June IS, A schedule showing the District's original and final budget amounts compared with amounts actually paid and received is provided in the armual report on page 53. Significant revenue and expenditure revisions to the budgets were made. This is primarily due to carryover from and a conservative "fair share" estimate at the time of budget adoption. CAPITAL ASSET & DEBT ADMINISTRATION Capital Assets At June 30, 2012, the District had $ million in a broad range of capital assets, including land, buildings, and furniture and equipment. This amount represents a net increase (including additions and depreciation) of $33.35 million from last year. 10

59 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 TABLE 4 Governmental Activities (Amonnts in millions) CHANGE Land $ 1.90 $ 1.96 $ 0.06 Construction in progress (4.98) Buildings and improvements Furniture and equipment Total Assets Less Accumulated Depreciation (33.17) (37.67) (4.50) Totals $ $ $ This year's additions included school modernization of $42.41 million, and deletions to equipment of $4.62 million. Several capital projects are planned for the year. More information about our capital assets is presented in Note 4 to the financial statements. Long-Term Obligations At the end ofthis year, the District had $ million in long-term debt outstanding versus $ milliou last year, an increase of 1.5 percent. Long-term obligations consisted of: TABLES (Amounts in millions) General obligation bonds and premiums Compensated absences Other postemployment benefits obligations Totals Government Activities CHANGE $ $ $ (4.83) $ $ $ (4.16) The District's general obligation bond rating is Aal (based on Moody's, Insured Bonds). The State limits the amount of general obligation debt that the District can issue. The District's outstanding general obligation bond debt of$ million is below this limit. Other obligations include compensated absences payable. liabilities is presented in Note 9 ofthe financial statements. More detailed information regarding our long-term The District has an estimated liability of $5.88 million for OPEB (other post-employment benefits. During fiscal year the District established an irrevocable trust with American United Life that is administered by MidAmerica to fund this liability. The trust had a restricted fund balance of $6.10 million at June 30, The formation of this irrevocable trust protects the funds set aside for retiree benefits and was an important element to the District being an early adopter of GASB 45, implementing the requirements three years ahead of schedule. 11

60 FREMONT UNION HIGH SCHOOL DISTRICT MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2012 ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES The District's Budget District Administration is not projecting that its financial position will improve any time soon. Although the state budget language contained "flexibility" for some categorical programs, the District remains committed to maintaining these programs despite significant reductions in state funding. The district is also facing a $7.3 million ongoing Basic Aid "give back" to the state. This is an increase to the $6.7 million one-time "give back" for Property tax growth will continue to be slow. Eruollment is projected to increase by approximately 62 students, but we are uncertain about the economy's impact on long term projections. Current projections show a 10 year period of increasing enrollment. In the area of employee compensation, there is no salary increase anticipated for Due to the passage of Measure B, facility improvements will continue. Installation of solar has been completed, and the track and field modernization project is approaching completion. CONTACTING THE DISTRICT'S FINANCIAL l\1al"~agel\1ent This financial report is designed to provide our citizens, taxpayers, students, investors and creditors with a general overviewofthe District's finances and to show the District's accountability for the money it receives. If you have questions about this report or need any additional financial information, then contact the office of Christine Mallery, Chief Business Officer/Associate Superintendent, at the Fremont Union High School District, 589 W. Fremont Avenue, Sunnyvale, California, (408)

61 FREMONT UNION HIGH SCHOOL DISTRICT STATEMENT OF NET ASSETS JUNE 30, 2012 ASSETS Deposits and investments Receivables Prepaid expenses Deferred charges Stores inventories Capital assets not depreciated Capital assets, net ofaccumulated depreciation Total Assets LIABILITIES Accounts payable Interest payable Deferred revenue Claims liabilities Current loans Current portion of long-term obligations Noncurrent portion of long-term obligations Total Liabilities NET ASSETS Invested in capital assets, net of related debt Restricted for: Debt service Capital projects Self insurance Legally restricted Unrestricted Total Net Assets Governmental Activities $ 133,645,935 6,532, ,600 2,099,557 40,960 37,102, ,398, ,117,819 11,351,779 4,987, , ,148 15,000,000 11,300, ,679, ,722,482 53,476,714 12,097,015 2,955,965 97,555 7,064,056 38,704,032 $ 114,395,337 13

62 FREMONT UNION HIGH SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2012 Program Revenues Charges for Operating Capital Services and Grants and Grants and Net (Expenses) Revenues and Changes in Net Assets FunctionslPrograms Expenses Sales Contributions Contributions Total Governmental Activities: Instruction $ 63,270,297 $ 33,008 $ 6,405,999 $ 5,822 $ (56,825,468) Instruction-related activities: Supervision of instruction 4,276,974 9, ,156 (3,817,832) Instructional library, media, and technology 1,680, ,513 (1,662,046) School site administration 13,124, ,267 (12,404,573) Pupil services: Home-ta-school transportation 1,875, ,343 (1,550,322) Food services 2,656, ,608 (2,067,418) All other pupil services 7,567, ,412 (6,625,501) Administration: Data processing 173,341 (173,341) All other administration 6,486,771 1, ,664 (6,018,411 ) Plant services 10,766,484 2,354 21,751 (10,742,379) Ancillary services 93,251 (93,251) Community services 2,351 (2,351) Interest on long-term obligations 13,154,966 (13,154,966) Other outgo 22, , ,495 1,349,374 Total Governmental Activities $ 125,151,087 $ 517,572 $ 10,839,208 $ 5,822 (113,788,485) General revenues and subventions: Property taxes, levied for general purposes 80,266,532 Property taxes, levied for debt service 19,408,428 Taxes levied for other specific purposes 5,127,764 Federal and State aid not restricted to specific purposes 2,523,190 Interest and investment earnings 394,138 Miscellaneous 15,169,871 Subtotal, General Revenues [22,889,923 Change in Net Assets 9,101,438 Net Assets - Beginning 105,293,899 Net Assets - Ending $ 114,395,337 The accompanying notes are an integral pmt ofthese financial statements. 14

63 FREMONT UNION HIGH SCHOOL DISTRICT GOVERNMENTAL FUNDS BALANCE SHEET JUNE 30, 2012 Bond Interest General Building and Redemption Fund Fund Fund ASSETS Deposits and investments $ 36,721,083 $ 73,084,665 $ 16,623,339 Receivables 4,834, ,836 13,969 Due from other funds 1,389,592 95,368 Prepaid expenditures 200,045 Stores inventories Total Assets $ 43,145,421 $ 73,393,869 $ 16,637,308 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ 6,537,800 $ 5,084,801 $ Due to other funds 100 Other current liabilities 15,000,000 Deferred revenue 57, ,480 Total Liabilities 21,595,673 5,191,381 Fund Balances: Nonspendable 208,620 Restricted 4,898,328 43,189,246 16,637,308 Committed Assigned 11,632,189 25,013,242 Unassigned 4,810,611 Total Fund Balances 21,549,748 68,202,488 16,637,308 Total Liabilities and Fund Balances $ 43,145,421 $ 73,393,869 $ 16,637,308 15

64 Non Major Governmental Funds Total Governmental Funds $ 6,997,601 $ 133,426,688 1,469,176 6,531, ,000 1,984, ,045 40,960 40,960 $ 9,007,737 $ 142,184,335 $ 166,163 $ 11,788,764 1,925,995 1,926,095 15,000,000 87, ,873 2,179,678 28,966,732 42, , ,695 65,334,577 3,805,173 3,805,173 2,371,106 39,016,537 4,810,611 6,828, ,217,603 $ 9,007,737 $ 142,184,335 16

65 FREMONT UNION HIGH SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET ASSETS JUNE 30, 2012 Total Fund Balance - Governmental Funds Amounts Reported for Governmental Activities in the Statement of Net Assets are Different Because: Capital assels W:R':U iii guvl,,;fwih..:ulal aclivilil:s arc nol finaru;ial resources and, therefore, are not reported as assets in governmental funds. The cost of capital assets is Accumulated depreciation is Net Capital Assets Expenditures relating to issuance ofdebt were recognized on modified accrual basis, but are not recognized on the accrual basis. In governmental funds, ulunatured interest on long-term obligations is recognized in the period when it is due. On the government-wide financial statements, unmatured interest on long-term obligations is recognized when it is incurred. An internal service fund is used by the District's management to charge the costs ofthe workers' compensation insurance program to the individual funds. The assets and liabilities ofthe internal service fund are included with governmental activities. Long-term obligations at year-end consist of Bonds payable Bonds premium Compensated absences (vacations) Other post employment benefits Total Long-Term Obligations Total Net Assets - Governmental Activities $ 319,174,271 (37,673,467) 262,169,704 9,043, ,745 5,880,808 $ 113,217, ,500,804 2,099,557 (4,540,293) 97,555 (277,979,889) $ 114,395,337 17

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67 FREMONT UNION HIGH SCHOOL DISTRICT GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2012 Bond Interest General Bnilding and Redemption Fund Fund Fund REVENUES Revenue limit sources $ 80,120,433 $ $ Federal sources 5,018,133 1,150,722 Other State sources 3,674, ,865 Other local sources 11,308,954 5,718,617 19,369,626 Total Revenues 100,122,124 5,718,617 20,631,213 EXPENDITURES Current Instruction 59,106,777 Instruction-related activities: Supervision of instruction 4,019,958 Instructional library, media and technology 1,499,674 School site administration 10,891,463 Pupil services: Home-to-schoo1 transportation 1,797,221 Food services 242 All other pupil services 7,251,408 Administration: Data processing 166,092 All other administration 5,259,503 Plant services 8,505, ,216 Facility acquisition and construction 39,054 39,072,653 Ancillary services 89,351 Community services 2,253 Other outgo 22,120 Debt service Principal 5,370,000 Interest and other 491,005 11,704,821 Total Expenditures 99,141,911 39,570,869 17,074,821 Excess (Deficiency) of Revenues Over Expenditures 980,213 (33,852,252) 3,556,392 Other Financing Sources (Uses) Transfers in 705, ,327 Transfers out (4,609,476) Net Financing Sources (Uses) (3,904,252) 470,327 NET CHANGE IN FUND BALANCES (2,924,039) (33,381,925) 3,556,392 Fund Balance - Beginning 24,473, ,584,413 13,080,916 Fund Balance - Ending $ 21,549,748 $ 68,202,488 $ 16,637,308 18

68 Nonmajor Governmental Funds Total Governmental Funds $ $ 80,120, ,724 6,988,579 3,076,716 6,862,185 3,881,686 40,278,883 7,778, ,250,080 1,216,227 60,323,004 78,145 4,098, ,097 1,609,771 1,528,768 12,420,231 1,797,221 2,544,704 2,544,946 7,251, , ,982 5,442, ,724 9,615, ,841 39,240,548 89,351 2,253 22,120 5,370,000 12,195,826 6,401, ,189,089 1,376,638 (27,939,009) 4,639,149 5,814,700 (1,143,026) (5,752,502) 3,496,123 62,198 4,872,761 (27,876,811 ) 1,955, ,094,414 $ 6,828,059 $ 113,217,603 19

69 FREMONT UNION HIGH SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2012 Total Net Change in Fund Balances - Governmental Funds Amonnts Reported for Governmental Activities in the Statement of Activities are Different Because: This is the amount by which depreciation exceeds capital outlays in the period. Depreciation expense Capital outlays Net Expense Adjustment Loss on disposal ofe-apita! assets is reported as arl expense in Ll).e statement of activities, but is not recorded in the governmental fnnds. In the Statement ofactivities, certain operating expenses, such as compensated absences (vacations) are measured by the amounts earned during the year. In the governmental funds, however, expenditures for these items are measured by the amount of financial resources used (essentially, the amounts actually paid). Vacation earned was more than the amounts used. Contributions to the retiree benefit trust fund are recorded as an expense in the governmental funds when paid. However, the difference between the annual OPEB costs and the actual contribution made is recorded in the statement of activities. The actual amount ofthe contribution was less than the annual reauired contribution in the current vear. Amortization of bond premiums reduce long-term obligations in the statement ofnet assets and is recorded in the statement ofactivities as revenue, but does not affect the governmental funds. Amortization ofcosts for the issuance of bonds is an expense in the statement ofactivities, but is not recorded in the governmental funds. Payment ofprincipal on long-term obligations is an expenditure in the governmental funds, but it reduces long-term obligations in the statement of net assets and does not affect the statement of activities. Accreted interest is not an expenditure in the governmental funds, but it increases the longterm liabilities in the statement of net assets and is reflected as additional interest expense in the statement of activities. Interest on long-term obligations is recorded as an expenditure in the funds when it is due; however, in the statement ofactivities, interest expense is recognized as the interest accrues, req"ardle~s ofwhen it is due. An internal service fund is used by the District's management to charge the costs ofthe selfinsurance program to the individual funds. The net loss ofthe Internal Service fund is reported with governmental activities. Change in Net Assets of Governmental Activities $ (27,876,811) (4,503,428) 38,509,495 34,006,067 (657,901) (1,357) (650,215) 678,807 (125,023) 5,370,000 (1,238,073) (274,851) (129,205) $ 9,101,438 20

70 FREMONT UNION HIGH SCHOOL DISTRICT PROPRIETARY FUND STATEMENT OF NET ASSETS JUNE 30, 2012 ASSETS Current Assets Deposits and investments Receivables Prepaid expenses Total Current Assets LIABILITIES Current Liabilities Accounts payable Due to other funds Claim liabilities Total Current Liabilities $ Governmental Activities Internal Service Fnnd 219,247 1,281 97, ,083 10,515 58, , ,528 NET ASSETS Restricted Total Net Assets $ 97,555 97,555 The accompanying notes are an integral paj1 of these financial statements. 21

71 FREMONT UNION HIGH SCHOOL DISTRICT PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2012 Governmental Activities Internal Service Fund OPERATING REVENUES In-District premium OPERATING EXPENSES Professional aud contract services Supplies and materials Total Operating Expenses Operating Loss NONOPERATING REVENUES (EXPENSES) Interest income Transfers out Total Nonoperating Revenues (Expenses) Change in Net Assets Total Net Assets - Beginning Total Net Assets - Ending $ $ 1,962,924 2,026,729 5,647 2,032,376 (69,452) 2,445 (62,198) (59,753) (129,205) 226,760 97,555 The "Cf,mTlnmlV;rW notes are an ofthese financial statements. 22

72 FREMONT UNION HIGH SCHOOL DISTRICT PROPRIETARY FUND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2012 CASH FLOWS FROM OPERATING ACTIVITIES Cash receipts from customers Cash payments for insurance expenses Net Cash Used for Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES Interest on investments Cash payments for interfund services Net Cash Provided by Investing Activities $ Governmental Activities Internal Service Fnnd 1,962,485 (2,667,461) (704,976) 2,955 (62,198) (59,243) Net Decrease in Casb and Cash Eqnivalents Cash and Cash Equivalents - Beginning Cash and Cash Equivalents - Ending $ (764,219) 983, ,247 RECONCILIATION OF OPERATING LOSS TO NET CASH USED FOR OPERATING ACTIVITIES Operating loss Changes in assets and liabilities: Receivables Inventories Accrued liabilities Due to other fund NET CASH USED FOR OPERATING ACTIVITIES $ $ (69,452) (439) (23,759) 14,809 (626,135) (704,976) The accompanying notes are an integral pall ofthese financial statements. 23

73 FREMONT UNION HIGH SCHOOL DISTRICT FIDUCIARY FUNDS STATEMENT OF NET ASSETS JUNE 30, 2012 Retiree Benefits Agency Trust Funds ASSETS Deposits and investments $ 6,108,542 $ 2,520,682 Receivables 7,148 Prepaid expenses 26,176 Total Assets 6,141,866 $ 2,520,682 LIABILITIES Accounts payable 93,980 $ Due to student groups 2,520,682 Deferred revenue 655 Total Liabilities 94,635 $ 2,520,682 NET ASSETS Restricted $ 6,047,231 Tbe notes are an of tbese financial statements. 24

74 FREMONT UNION HIGH SCHOOL DISTRICT FIDUCIARY FUNDS STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2012 ADDITIONS District contributions Interest Total Additions DEDUCTIONS Benefit expenditures Retiree Benefits Trust $ 1,075, ,274 1,255,376 1,061,089 Change in Net Assets Net Assets - Beginning Net Assets - Ending $ 194,287 5,852,944 6,047,231 The notes are an ofthese financial statements. 25

75 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Financial Reporting Entity The Fremont Union High School District was organized in 1925 under the laws of the State of California. The District operates under a locally elected five-member Board form of government and provides educational services to grades 9-12 as mandated by the State and Federal agencies. The District operates five high schools, one alternative high school, one adult, and one independent study school. A reporting entity is comprised of the primary government, component units, and other organizations that are included to ensure the financial statements are not misleading. The primary government ofthe District consists of all funds, departments, boards, and agencies that are not legally separate from the District. For Fremont Union High School District, this includes general operations, food service, and student related activities ofthe District. Basis ofpresentation - Fund Accounting The accounting system is organized and operated on a fund basis. A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. The District's funds are grouped into three broad fund categories: governmental, proprietary, and fiduciary. Governmental Funds Governmental funds are those through which most governmental functions typically are financed. Governmental fund reporting focuses on the sources, uses, and balances ofcurrent financial resources. Expendable assets are assigned to the various governmental funds according to the purposes for which they may or must be used. Current liabilities are assigned to the fund from which they will be paid. The difference between governmental fund assets and liabilities is reported as fund balance. The following are the District's major and nou-major governmental funds: Major Governmental Funds General Fund The General Fund is the chief operating fund for all districts. It is used to account for and report all financial resources not accounted for reported in another fund. Building Fund The Building Fund exists primarily to account separately for proceeds from sale of bonds and acquisition ofmajor governmental capital facilities and buildings. Bond Interest and Redemption Fund The Bond Interest and Redemption Fund is used to account for the accumulation ofresources for, and the repayment of, district bonds, interest, and related costs. Non-Major Governmental Funds Special Revenue Funds The Special Revenue Funds are established to account for the proceeds from specific revenue sources that are restricted or committed to expenditures for the specific purpose (other than debt service or capital projects) ofthe individual funds. Adult Education Fund The Adult Education Fund is used to account separately for Federal, State, and local revenues for adult education programs and is to be expended for adult education purposes only, except, for State revenues which, as a result of Senate Bill 4 of the Third Extraordinary Session (SBX3 4). may be used for any educational purpose. 26

76 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Cafeteria Fund The Cafeteria Fund is used to account separately for Federal, State, and local resources to operate the food service program (Education Code sections ) and is used only for those expenditures authorized by the governing board as necessary for the operation of the District's food service program (Education Code Sections and 38100). Deferred Maintenance Fnnd The Deferred Maintenance Fund is used to account separately for State apportionments and the District's contributions for deferred maintenance purposes (Education Code Sections ) and for items of maintenance approved by the State Allocation Board, except for State apportionment which, as a result of Senate Bill 4 ofthe Third Extraordinary Session (SBX3 4), may be used for any educational purpose. Capital Project Funds The Capital Project funds are used to account for an report resources that are restricted, committed, or assigned to expenditures for capital outlays, including the acquisition or construction of capital facilities and other capital assets (other than those financed by proprietary funds and trust funds). Capital Facilities Fund The Capital Facilities Fund is used primarily to account separately for monies received from fees levied on developers or other agencies as a condition of approving a development (Education Code Sections ). Expenditures are restricted to the purposes specified in Government Code sections or to the items specified in agreements with the developer (Government Code Section 66006). County School Facilities Funa The County School Facilities Fund is established pursuant to Education Code Section to receive apportionments from the 1998 State School Facilities Fund (Proposition IA), the 2002 State School Facilities Fund (Proposition 47), or the 2004 State School Facilities Fund (Proposition 55) authorized by the State Allocation Board for new school facility construction, modernization projects, and facility hardship grants, as provided in the Leroy F. Greene School Facilities Act of 1998 (Education Code Section et seq.). Proprietary Funds Proprietary fund reporting focuses on the determination of operating income, changes in net assets, financial position, and cash flows. The District applies all GASB pronouncements, as well as the Financial Accounting Standards Board pronouncements issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements. Proprietary funds are classified as enterprise or internal service. The District has the following proprietary funds: Internal Service Fund Internal service funds may be used to account for any activity for which services are provided to other funds of the District on a cost reimbursement basis. The District operates a worker's compensation, dental, vision, and property and liability programs that are accounted for in an internal service fund. Fiduciary Funds Fiduciary fund reporting focuses on net assets and changes in net assets. The fiduciary fund category is split into four classifications: pension trust funds, investment trust funds, private-purpose trust funds, and agency funds. The District operates a retiree benefits trust fund and an agency fund. 27

77 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Trust funds are used to account for the assets held by the District nnder a trust agreement for individuals, private organizations, or other govermnents and are therefore, not available to support the District's own programs. The District's trust funds include the Retiree Benefits fund. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement ofresults ofoperations. Such funds have no equity accounts since all assets are due to individuals or entities at some future time. The District's agency fund accounts for student body activities (ASB). Basis ofaccounting - Measurement Focus Government-Wide Financial Statements The government-wide financial statements are prepared using the economic resources measurement focus and the accrual basis of accounting. This is the same approach used in the preparation of the proprietary fund financial statements, but differs from the manner in which governmental fund financial statements are prepared. The government-wide statement of activities presents a comparison between expenses, both direct and indirect, and program revenues of the District and for each governmental function, and exclude fiduciary activity. Direct expenses are those that are specifically associated with a service, program, or department and are therefore, clearly identifiable to a particular function. The District does not allocate indirect expenses to functions in the Statement of Activities, except for depreciation. Program revenues include charges paid by the recipients of the goods or services offered by the programs and grants and contributions that are restricted to meeting the operational or capital requirements ofa particular program. Revenues that are not classified as program revenues are presented as general revenues. The comparison of program revenues and expenses identifies the extent to which each program or business segment is self-financing or draws from the 'general revenues ofthe District. Eliminations have been made to minimize the double counting of internal activities. Net assets should be reported as restricted when constraints placed on net asset use are either externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments or imposed by law through constitutional provisions or enabling legislation. The net assets restricted for other activities result from special revenue funds and the restrictions on their net asset use. Fund Financial Statements Fund fmancial statements report detailed information about the District. The focus of governmental and proprietary 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. The internal service fund is presented in a single column on the face ofthe proprietary fund statements. Governmental Funds All governmental funds are accounted for using the flow of current financial resources measurement focus and the modified accrual basis of accounting. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. The statement of revenues, expenditures, and changes in fund balance reports on the sources (revenues and other financing sources) and uses (expenditures and other financing uses) of current financial resources. This approach differs from the manner in which the governmental activities ofthe government-wide financial statements are prepared. Governmental fund financial statements, therefore, include reconciliations with brief explanations to better identify the relationship between the government-wide financial statements, prepared using the economic resources measurement focus and the accrual basis of accounting, and the governmental fund financial statements, prepared using the flow of current financial resources measurement focus and the modified accrual basis of accounting. 28

78 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Proprietary Funds Proprietary funds are accounted for using the flow of economic resources measurement focus and the accrual basis of accounting. All assets and all liabilities associated with the operation ofthis fund are included in the statement of net assets. The statement of changes in fund net assets presents increases (revenues) and decreases (expenses) in net total assets. The statement of cash flows provides information about how the District finances and meets the cash flow needs ofits proprietary fund. Fiduciary Funds Fiduciary funds are accounted for using the flow of economic resources measurement focus and the accrual basis of accounting. Fiduciary funds are excluded from the government-wide financial statements because they do not represent resources ofthe District. Revenues - Exchange and Non-Exchange Transactions Revenue resulting from exchange transactions, in which each party gives and receives essentially equal value, is recorded on the accrual basis when the exchange takes place. On a modified accrual basis, revenue is recorded in the fiscal year in which the resources are measurable and become available. Available means that the resources will be collected within the current fiscal year or are expected to be collected soon enough thereafter, to be used to pay liabilities of the current fiscal year. Generally, available is defined as collectible within 45 or 60 days. However, to achieve comparability of reporting among California districts and so as not to distort normal revenue patterns, with specific respect to reimbursement grants and corrections to State-aid apportionments, the California Department of Edncation has defined available for districts as collectible within one year. The following revenue sources are considered to be both measurable and available at fiscal year-end: State apportionments, interest, certain grants, and other local sources. Non-exchange transactions, in which the District receives value without directly giving equal value in return, include property taxes, certain grants, entitlements, and donations. Revenue from property taxes is recognized in the fiscal year in which the taxes are received. Revenue from certain grants, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Eligibility requirements include time and purpose restrictions. On a modified accrual basis, revenue from non-exchange transactions must also be available before it can be recognized. Deferred Revenue Deferred revenue arises when potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period or when resources are received by the District prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the District has a legal claim to the resources, the liability for deferred revenue is removed from the balance sheet and revenue is recognized. Certain grants received before the eligibility requirements are met are recorded as deferred revenue. On the governmental fund financial statements, receivables that will not be collected within the available period are also recorded as deferred revenue. ExpenseslExpenditures On the accrual basis of accounting, expenses are recognized at the time they are incurred. The measurement focus of governmental fund accounting is on decreases in net financial resources (expenditures) rather tban expenses. Expenditures are generally recognized in the accounting period in which the related fund liability is incurred, if measurable, and typically paid within 90 days. Principal and interest on longterm obligations, which has not matured, are recognized when paid in the governmental funds as expenditures. Allocations of costs, such as depreciation and amortization, are not recognized in the governmental funds but are recognized in the entity-wide statements. 29

79 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Cash and Cash Eqnivalents The District's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments with original maturities of three months or less from the date of acquisition. Cash equivalents also include cash with county treasury balances for purposes of the statement of cash flows. Investments Investments held at June 30, 2012, with original maturities greater than one year are stated at fair value. Fair value is estimated based on quoted market prices at year-end. All investments not required to be reported at fair value are stated at cost or amortized cost. Fair values of investments in county are determined by the program sponsor. Prepaid Expenditures Prepaid expenditures (expenses) represent amounts paid in advance of receiving goods or services. The District has the option of reporting an expenditure in governmental funds for prepaid items either when purchased or during the benefiting period. The District has chosen to report the expenditures in the benefiting period. Stores Inventories Inventories consist of expendable food and supplies held for consumption. Inventories are stated at cost, on the weighted average basis. The costs of inventory items are recorded as expenditures in the governinental funds and expenses in the proprietary funds when used. Capital Assets and Depreciation The accounting and reporting treatment applied to the capital assets associated with a fund are determined by its measurement focus. Capital assets are long-lived assets of the District. The District maintains a capitalization threshold of$1 0,000. The District does not possess any infrastructure. Improvements are capitalized; the costs of normal maintenance and repairs that do not add to the value ofthe asset or materially extend an asset's life are not capitalized, but are expensed as incurred. When purchased, such assets are recorded as expenditures in the governmental funds and capitalized in the government-wide statement of net assets. The valuation basis for capital assets is historical cost, or where historical cost is not available, estimated historical cost based on replacement cost. Capital assets in the proprietary funds are capitalized in the fund in which they are utilized. The valuation basis for proprietary fund capital assets is the same as those used for the capital assets of governmental funds. Depreciation is computed using the straight-line method. Estimated useful lives of the various classes of depreciable capital assets are as follows: buildings and building improvement, 50 years; equipment,s to 15 years. Interfund Balances On fund financial statements, receivables and payables resulting from short-term interfund loans are classified as "intcrfund receivables/payables". These amounts are eliminated within the governmental funds. 30

80 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Compensated Absences Compensated absences are accrued as a liability as the benefits are earned. The entire compensated absence liability is reported on the government-wide statement of net assets. For governmental funds, the current portion of unpaid compensated absences is recognized upon the occurrence of relevant events such as employee resignations and retirements that occur prior to year-end that have not yet been paid with expendable available financial resources. These amounts are reported in the fund from which the employees who have accumulated leave are paid. Sick leave is accumulated without limit for each employee at the rate of one day for each month worked. Leave with pay is provided when employees are absent for health reasons; however, the employees do not gain a vested right to accumulated sick leave. Employees are never paid for any sick leave balance at termination of employment or any other time. Therefore, the value of accumulated sick leave is not recognized as a liability in the District's financial statements. However, credit for unused sick leave is applicable to all classified school members who retire after January I, At retirement, each member will receive.004 year of service credit for each day of unused sick leave. Credit for unused sick leave is applicable to all certificated employees and is determined by dividing the number of unused sick days by the number of base service days required to complete the last school year, ifemployed full-time. Accrued Liabilities and Long-Term Obligations All payables, accrued liabilities, and long-term obligations are reported in the government-wide and proprietary fund financial statements. In general, governmental fund payables and accrued liabilities that, once incurred, are paid in a timely manner and in full from current financial resources are reported as obligations of the governmental funds. However, claims and judgments, compensated absences, special termination benefits, and contractually required pension contributions that will be paid from governmental funds are reported as a liability in the governmental fund financial statements only to the extent that they are due for payment during the current year. Bonds, capital leases, and other long-term obligations are recognized as liabilities in the governmental fund financial statements when due. Deferred Issuance Costs, Premiums and Discounts In the government-wide financial statements and in the proprietary fund type financial statements, long-term obligations are reported as liabilities in the applicable governmental activities, or proprietary fund statement ofnet assets. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the bonds using the straight-line method. Fund Balances - Governmental Funds As ofjune 30, 2012, fund balances ofthe governmental funds are classified as follows: Nonspendable - amounts that cannot be spent either because they are in nonspendable form or because they are legally or contractually required to be maintained intact. Restricted - amounts that can be spent for specific purposes because of constitutional provisions or enabling legislation or because of constraints that are externally imposed by creditors, grantors, contributors, or the laws of of 3 J

81 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Committed - amounts that can be used only for specific purposes determined by a formal action ofthe governing board. The governing board is the highest level of decision-making authority for the District. Commitments may be established, modified, or rescinded only through resolutions or other action as approved by the governing board. Assigned - amounts that do not meet the criteria to be classified as restricted or committed by that are intended to be used for specific purposes. Under the District's adopted policy, only the governing board or chief business officer/assistant superintendent ofbusiness services may assign amounts for specific purpose. Unassigned - all other spendable amounts. Spending Order Policy When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available, the District considers restricted funds to have been spent first. When an expenditure is incurred for which committed, assigned, or unassigned fund balances are available, the District considers amounts to have been spent first out of committed funds, then assigned funds, and finally, unassigned funds as needed, unless, the governing board has provided otherwise in its commitment or assignment actions. Minimum Fund Balance Policy In fiscal year , the governing board adopted a minimum fund balance policy for the General Fund in compliance with GASB 54 to establish fund balance policies in order to protect the district against revenue' shortfalls or unpredicted one-time expenditures. The policy requires a Reserve for Economic Uncertainties consisting of unassigned amounts equal to no less than 3 percent of General Fund expenditures and other financing uses. At June 30, 2012, $4,810,611 of the Fund balance for the General Fund was reported as amounts unassigned and held for economic uncertainties. Net Assets Net assets represent the difference between assets and liabilities. Net assets invested in capital assets, net of related debt consists ofcapital assets, net ofaccumulated depreciation, reduced by the outstanding balances ofany borrowings used for the acquisition, construction or improvement of those assets. Net assets are reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the District or through extemal restrictions imposed by creditors, grantors, or laws or regulations of other governments. The District first applies restricted resources when an expense is incurred for purposes for which both restricted and unrestricted net assets are available. Operating Revenues and Expenses Operating revenues are those revenues that are generated directly from the primary activity of the proprietary funds. For the District, these revenues are primarily interfund insurance premiums. Operating expenses are necessary costs incurred to provide the good or service that is the primary activity of the fund. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. 32

82 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Current Loans Current loans consist of amounts outstanding at June 30, 2012, for Tax Revenue and Anticipation Notes. The notes were issued as short-term obligations to provide cash flow needs. This liability is offset with cash deposits in the KNN Public Finance Corp, which have been setaside to repay the notes. Interfund Activity Transfers between governmental and business-type activities in the government-wide financial statements are reported in the same manner as general revenues. Exchange transactions between funds are reported as revenues in the seller funds and as expenditures/expenses in the purchaser funds. Flows of cash or goods from one fund to another without a requirement for repayment are reported as interfund transfers. Interfund transfers are reported as other financing sources/uses in governmental funds and after non-operating revenues/expenses in proprietary funds. Repayments from funds responsible for particular expenditures/expenses to the funds that initially paid for them are not presented in the financial statements. Interfund transfers are eliminated in the governmental column ofthe statement ofactivities. 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. Budgetary Data The budgetary process is prescribed by provisions of the California Education Code and requires the governing board to hold a public hearing and adopt an operating budget no later than July 1" of each year. The District governing board satisfied these requirements. The adopted budget is subject to amendment throughout the year to give consideration to unanticipated revenue and expenditures primarily resulting from events unknown at the time of budget adoption with the legal restriction that expenditures cannot exceed appropriations by major object account. The amounts reported as the original budgeted amounts in the budgetary statements reflect the amounts when the original appropriations were adopted. The amounts reported as the final budgeted amounts in the budgetary statements reflect the amounts after all budget amendments have been accounted for. For budget purposes, on behalf payments have not been included as revenue and expenditures as required under generally accepted accounting principles. Property Tax Secured property taxes attach as an enforceable lien on property as of January 1. Taxes are payable in two installments on November I and February 1 and become delinquent on December 10 and April 10, respectively. Unsecured property taxes are payable in one installment on or before August 31. The County ofsanta Clara bills and collects the taxes on behalf ofthe District.. Local property tax revenues are recorded when received. 33

83 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 New Accounting Pronouncements In November 2010, the GASB issued Statement No. 61, The Financial Reporting Entity: Omnibus-an amendment ofgasb Statements No. 14 and No. 34. The objective of this Statement is to improve financial reporting for a governmental financial reporting entity. The requirements of GASB Statement No. 14, The Financial Reporting Entity, and the related financial reporting requirements of GASB Statement No. 34, Basic Financial Statementsand Management's Discussion andanalysis-for State and Local Governments, were amended to better meet user needs and to address reporting entity issues that have arisen since the issuance of those Statements. The provisions ofthis Statement are effective for financial statements for periods beginning after June IS, Early implementation is encouraged. In June 2011, the GASB issued Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position. This Statement provides financial reporting gnidance for deferred outflows of resources and deferred inflows of resources. Concepts Statement No.4, Elements of Financial Statements, introduced and defined those elements as a consumption of net assets by the government that is applicable to a future reporting period, and an acquisition of net assets by the government that is applicable to a future reporting period, respectively. Previous financial reporting standards do not include guidance for reporting those financial statement elements, which are distinct from assets and liabilities. The provisions ofthis Statement are effective for financial statements for periods beginning after December 15,2011. Earlier implementation is encouraged. In March 2012, the GASB issued Statement No. 65, Items Previously Reported as Assets and Liabilities. This Statement establishes accounting and financial reporting standards that reclassify, as deferred outflows of resources or deferred inflows of resources, certain items that were previously reported as assets and liabilities and recognizes, as outflows ofresources or inflows of resources, certain items that were previously reported as assets and liabilities. The provisions ofthis Statement are effective for financial statements for periods beginning after December IS, Earlier implementation is encouraged. In March 2012, the GASB issued Statement No. 66, Technical Corrections an amendment of GASB Statements No. 10 and No. 62. The objective of this Statement is to improve accounting and fmancial reporting for a governmental financial reporting entity by resolving conflicting guidance that resulted from the issuance of two pronouncements, Statements No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, and No. 62, Codification ofaccounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB andaicpa Pronouncements. The provisions of this Statement are effective for financial statements for periods beginning after December IS, Earlier implementation is encouraged. In June 2012, the GASB issued Statement No. 68, Accounting and Financial Reporting for Pensions-an amendment of Statement No. 27. The primary objective of this Statement is to improve accounting and financial reporting by state and local governments for pensions. It also improves information provided by State and local governmental employers about financial support for pensions that is provided by other entities. This Statement is effective for fiscal years beginning after June 15,2014. Earlier implementation is encouraged. 34

84 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 2 - DEPOSITS AND INVESTMENTS Summary of Deposits aud Iuvestments Deposits and investments as ofjune 30, 2012, are classified in the accompanying financial statements as follows: Governmental funds Propietary fund Fiduciary fuuds Total Deposits and Investments $ 133,426, ,247 8,629,224 $ 142,275,159 Deposits and investments as ofjune 30, 2012, consist ofthe following: Cash on haud aud in banks Investment Investment in Annuities Total Deposits and Investments $ 18,425, ,741,472 6,108,329 $ 142,275,159 Policies and Practices The District is authorized under California Government Code to make direct investment s in local agency bonds, notes, or warrants witltin the State; U.S. Treasury instruments; registered State warrants or treasury notes; securities ofthe U.S. Government, or its agencies; bankers acceptances; commercial paper; certificates of deposit placed with commercial banks and/or savings and loan companies; repurchase or reverse repurchase agreements; medium term corporate notes; shares of beneficial interest issued by diversified management companies, certificates of participation, obligations with first priority security; and collateralized mortgage obligations. Investment in County Treasury - The District is considered to be an involuntary participant in an external investment pool as the District is required to deposit all receipts and collections of monies with their County Treasurer (Education Code Section 4100 I). The fair value of the District's investment in the pool is reported in the accounting financial statements at amounts based upon the District's pro-rata share of the fair value provided by the County Treasurer for the entire portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by the County Treasurer, which is recorded on the amortized cost basis. 35

85 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 General Authorizations Limitations as they relate to interest rate risk and concentration of credit risk are indicated in the schedules below: Authorized Investment Type Local Agency Bonds, Notes, Warrants Registered State Bonds, Notes, Warrants U.S. Treasury Obligations U.S. Agency Securities Banker's Acceptance Commercial Paper Negotiable Certificates ofdeposit Repurchase Agreements Reverse Repurchase Agreements Medium-Term Corporate Notes Mutual Funds Money Market Mutual Funds Mortgage Pass-Through Securities County Pooled Investment Funds Local Agency Investment Fund (LAIF) Joint Powers Authority Pools Maximum Remaining Maturity 5 years 5 years 5 years 5 years 180 days 270 days 5 years 1 year 92 days 5 years N/A N/A 5 years N/A N/A N/A Maximum Percentage ofportfolio None None None None 40% 25% 30% None 20% of base 30% 20% 20% 20% None None None Maximum Investment in One Issuer None None None None 30% 10% None None None None 10% 10% None None None None Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment the greater the sensitivity of its fair value to changes in market interest rates. The District manages its exposure to interest rate risk by depositing substantially all ofits funds in the County Treasury Pool. The District's retiree benefit plan also has an annuity account with a third party for the reserve ofthe future retiree benefit payments. The District monitors the interest rate risk inherent in its portfolio by measuring the average maturity of its portfolio. Information about the weighted average maturity ofthe District's portfolio is presented in the following schedule: Fair Average Maturity Investment Type Costs Value in Years Annuity for Retiree Benefit Trust Fund $ 6,108,329 $ 6,108,329 less than 1 year County Pool 117,741, ,190, Total $ 123,849,801 $ 124,298,396 36

86 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Credit Risk Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder ofthe investment. This is measured by the assignment of a rating by a nationally regognized statistical rating organization. The annuity with ING ReliaStar Group is a fixed investment produgt with ING that is principal protected and guarantees a 3 percent minimum rate of return. ReliaStar Life Insurance Company has a rating of A+ from Standard and Poor's ofaa. Custodial Credit Risk - Deposits This is the risk that in the event of a bank failure, the District's deposits may not be returned to it. The District does have a policy for custodial credit risk for deposits. However, the California Government Code requires that a financial institution secure deposits made by state or local governmental units by pledging securities in an undivided collateral pool held by a depository regulated under state law. The market value of the pledged securities in the collateral pool must equal at least 110 percent ofthe total amount deposited by the public agency. California law also allows fmancial institutions to secure public deposits by pledging first trust deed mortgage notes having a value of 150 percent ofthe secured public deposits and letters of credit issued by the Federal Home Loan Bank of San Francisco having a value of 105 percent of the secured deposits. As of June 30, 2012, approximately $15,356,000 of the District's bank balances of $18,079,000 was exposed to custodial credit risk because it was uninsured and collateralized with securities held by the pledging financial institution's trust department or agent, but not in the name of the District. NOTE 3 - RECEIVABLES Receivables at June 30, 2012, consisted of intergovernmental grants, entitlements, interest and other local sources. All receivables are considered collectible in full. Bond Interest and Non-Major General Building Redemption Governmental Proprietary Fiduciary Fund Fund Fund Funds Total Funds Funds Federal Government Categorical aid $1,140,329 $ $ $ 355,037 $1,495,366 $ $ State Government Apportionment 483,769 1,062,120 1,545,889 Categorical aid 916,362 7, ,057 Lottery 600, ,183 Local Government Interest 64, ,969 11, , ,482 Other Local Sources 1,629,526 90,407 33,056 1,752, ,666 Total $4,834,701 $213,836 $ 13,969 $ 1,469,176 $ 6,531,682 $ 1,281 $ 7,148 37

87 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 4 - CAPITAL ASSETS Capital asset activity for the fiscal year ended June 30, 2012, was as follows: Balance Deductions/ Balance July I, 2011 Additions Adjustments June 30, 2012 Governmental Activities Capital Assets Not Being Depreciated: Land $ 1,909,025 $ 49,000 $ $ 1,958,025 Construction in progress 40,118,170 38,425,492 43,399,388 35,144,274 Total Capital Assets Not Being Depreciated 42,027,195 38,474,492 43,399,388 37,102,299 Capital Assets Being Depreciated: Buildings and improvements 236,570,869 43,074, , ,987,155 Furniture and equipment 2,724, ,204 3,084,817 Total Capital Assets Being Depreciated 239,295,482 43,434, , ,071,972 Total Capital Assets 281,322,677 81,908,883 44,057, ,174,271 Less Accumulated Depreciation: Buildings and improvements 30,787,861 4,214,219 35,002,080 Furniture and equipmeut 2,382, ,209 2,671,387 Total Accumulated Depreciation 33,170,039 4,503,428 37,673,467 Governmental Activities Capital Assets, Net $248,152,638 $ 77,405,455 $ 44,057,289 $281,500,804 Depreciation expense was charged as a direct expense to governmental functions as follows: Governmental Activities Instruction Snpervision ofinstruction Instructional library, media, and technology School site administration Home-to-school transportation Food services All other pupil services Anciliary service Community services All other general administration Data processing Plant services Total Depreciation Expenses Governmental Activities $ 2,537, ,871 70, ,110 78, , ,505 3, ,550 7, ,701 $ 4,503,428 38

88 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 5 - INTERFUND TRANSACTIONS Interfund ReceivableslPayables (Due TolDue From) Interfund receivables and payable balances arise from interfund transactions and are recorded by all funds affected in the period in which transactions are executed. Interfund receivables and payable balances at June 30, 2012, between major and non-major governmental funds, non-major enterprise funds, and internal service funds are as follows: Due From Non-Major General Building Governmental Due To Fund Fund Funds Total Building fund $ 100 $ $ $ 100 Non-Major Governmental funds 1,330,627 95, ,000 1,925,995 Proprietary funds 58,865 58,865 Total $ 1,389,592 $ 95,368 $ 500,000 $ 1,984,960 All balances resulted from the time lag between the date that (I) interfund goods and services are provided or reimbursable expenditures occur, (2) transactiou are recorded in the accounting system, and (3) payments between funds are made. Operating Transfers Interfund transfers for the year ended June 30, 2012, consisted ofthe following: Transfer In Transfer Out General fund Non-Major Govermnental funds Internal service funds Total General Fund $ 643,026 62,198 $ 705,224 Building Fund $ 470,327 $ 470,327 Non-Major Governmental Funds $ 4,139, ,000 $ 4,639,149 $ $ Total 4,609,476 1,143,026 62,198 5,814,700 The General fund transferred to the Cafeteria fund for support. The General fund transferred to the Adult Education fund for committed adult education programs. Tbe General fund transferred to the Deferred Maintenance fund for future committed projects. The General fund transfen'cd to the Building fund for utility-related rebates. The Adult Education fund transferred to the General fund for Basic Aid Reduction payments. The Adult Education fund transferred to the Deferred Maintenance fund for future projects. The Selflnsurance fund transferred to the General fund to close remaining fund balance. Total $ $ 631,899 1,380,243 2,127, , , ,000 62,198 5,814,700 39

89 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE6-ACCOUNTSPAYABLE Accounts payable at June 30, 2012, consisted ofthe following: Non-Major General Building Governmental Proprietary Fiduciary Fund Fund Funds Total Fund Funds Vendor payables $ 3,499,642 $ 4,962,105 $ 78,422 $ 8,540,169 $ 10,515 $ 93,980 Salaries and benefits 2,590, ,696 87,741 2,801,095 Interest Payable 447, ,500 Total $ 6,537,800 $ 5,084,801 $ 166,163 $ 11,788,764 $ 10,515 $ 93,980 In the statement of net assets, the interest payable includes $4,540,293 bond interest payable and $447,500 TRANS interest payable that is recorded in General fund. NOTE 7 - DEFERRED REVENUE Deferred revenue at June 30, 2012, consists ofthe following: Non-Major General Building Governmental Fiduciary Fund Fund Funds Total Funds Other local $ 57,873 $ 106,480 $ 87,520 $ 251,873 $ 655 NOTE 8 - TAX AND REVENUE ANTICIPATION NOTES (TRANS) On July 1,2011, the District issued $15,000,000 Tax and Revenue Anticipation Notes bearing interest at three percent. The notes were issued to supplement cash flows. First fifty percent of the principal was deposited in the Santa Clara County (the "County) in January, Remaining principal was deposited in the County in April, By May, 2012, the District had placed 100 percent of principal and interest in the County for the sole purpose of satisfying the notes. The District was not required to make any additional payment on the notes. The District has recorded the cash available to make the principal and interest payments as Cash with Fiscal Agent and with the corresponding liability as a current loan. 40

90 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 9 - LONG-TERM OBLIGATIONS Summary The changes in the District's long-term obligations during the year consisted ofthe following: Balance Balance Due in July 1, 2011 Additions Deductions June 30, 2012 One Year General obligation bonds $ 266,301,631 $ 1,238,073 $ 5,370,000 $ 262,169,704 $ 9,055,000 Bond premium 9,722, ,807 9,043, ,807 Compensated absences 884,388 1, ,745 OPEB obligation 5,230,593 1,725,317 1,075,102 5,880,808 1,566,417 $ 282,139,051 $ 2,964,747 $ 7,123,909 $ 277,979,889 $ 11,300,224 Payments on the general obligation bonds are made by the bond interest and redemption fund with local revenues. The Compensated absences and the OPEB obligation will be paid by the fund for which the employee worked. Bonded Debt The outstanding general obligation bonded debt is as follows: Bonds Bonds Issue Maturity Interest Original Outstanding Outstanding Date Date Rate Issue July 1,2011 Accretion Redeemed June 30, /20/05 9/1/23 3-5% $ 143,400,000 $ 118,880,000 $ $ 5,370,000 $ 113,510,000 8/14/08 8/1/33 4-5% 80,000,000 77,100,000 77,100,000 3/10/11 8/1/ % 69,995,108 70,321,631 1,238,073 71,559,704 $ 266,301,631 $ 1,238,073 $ 5,370,000 $ 262,169,704 41

91 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Debt Service Requirements to Maturity The bonds mature through 2045 as follows: Fiscal Year Total Accreted interest Principal $ 9,055,000 8,980,000 9,485,000 10,580,000 11,780,000 80,825,000 55,277,976 25,975,652 17,985,441 6,366,039 24,295, ,605, I08 1,564,596 $ 262,169,704 Interest to Maturity $ 11,852,027 11,499,029 11,075,225 10,597,964 10,049,320 39,770,115 20,560,221 12,111,530 7,034,280 6,529,280 2,824,700 $ 143,903,691 Total $ 20,907,027 20,479,029 20,560,225 21,177,964 21,829, ,595,115 75,838,197 38,087,182 25,019,721 12,895,319 27,119,700 $ 404,508,799 Defeased Debt On January 20, 2005, the District issued general obligation bonds of$143,400,000 (par value) with an interest rate ranging from 2.0 percent to 3.4 percent to advance refund the previously issued 1998 Series A, B, and C bonds with an interest rate ranging from 4.1 percent to 7.0 percent and a par value of$132,080,000. As ofjune 30, 2012 the balance in the irrevocable trust with an escrow agent to provide for debt service payments on the 1998 Series A, B, and C bonds was $35,044,859, and will be paid as the defeased debt becomes callable or matures. Accumulated Unpaid Employee Vacation The long-terro portion ofaccumulated nnpaid employee vacation for the District at June 30, 2012, amounted to $885,745. Other Postemployment Benefit (OPEB) Obligation The District's annnal reqnired contribution for the year ended June 30, 2012, was $1,566,417, and contributions made by the District during the year were $1,075,102. Interest on the net OPEB obligation to the annual required contribution were $158,900, which resnlted in an increase to the net OPEB obligation of $650,215. As of June 30,2012, the net OPEB obligation was $5,880,808. See Note 14 for additional inforroation regarding the OPEB obligation and the postemployment benefits plan. 42

92 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 10 - FUND BALANCES Fund balances with reservations and designations are composed ofthe following elements: Bond Interest and Non-Major General Building Redemption Governmental Fund Fund Fund Funds Total Nonspendable Revolving cash $ 15,000 $ $ $ 1,125 $ 16,125 Stores inventories 40,960 40,960 Prepaid expenditures 193, ,620 Total Nonspendable 208,620 42, ,705 Restricted Legally restricted programs 4,898,328 24,836 4,923,164 Capital projects 43,189,246 2,955,965 46,145,211 Debt services 16,637,308 16,637,308 Total Restricted 4,898,328 43,189,246 16,637,308 2,980,801 67,705,683 Committed Maintenance program 2,638,589 2,638,589 Adult education program 1,166,584 1,166,584 Total Committed 3,805,173 3,805,173 Assigned School site carryover 4,664,592 4,664,592 Basic aid reduction 6,]22,391 6,122,391 Mandated Costs 845, ,206 Capital projects 25,013,242 25,013,242 Total Assigned 11,632,]89 25,013,242 36,645,431 Unassigned Reserve for economic uncertainties 4,810,611 4,810,611 Total Unassigned 4,810,611 4,810,611 Total $ 21,549,748 $ 68,202,488 $ 16,637,308 $ 6,828,059 $1l3,217,603 43

93 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 11- LEASE REVENUES The District has leased properties built in the 1950s where the total construction costs have been fully depreciated for a number of years. Lease agreements have been entered into with various lessees for terms that exceed one year. None of the agreements contain purchase options. All of the agreements contain a termination clause providing for cancellation after a specified number of days written notice to lessors, but is unlikely that the District will cancel any of the agreements prior to their expiration date. The future minimum lease payments expected to be received under these agreements are as follows: Year Ending Lease June 30, Payment 2013 $ 3,380, ,380, ,380, ,380, ,451, ,259, ,259, ,259, ,903,636 Total $ 39,656,488 NOTE 12 - RISK MANAGEMENT Property and Liability The District is exposed to various risks ofloss related to torts; theft of, damage to, and destruction ofassets; errors and omissions; injuries to employees and natural disasters. Duriog fiscal year ending June 30, 2012, the District participated in the Northern California Regional Liability Excess Fund (ReLiEF) for excess property and liability coverage. Settled claims have not exceeded this commercial coverage in any of the past three years. There has not been a significant reduction in coverage from the prior year. Workers' Compensation For fiscal year 2012, the District participated in the Santa Clara County Schools Insurance Group for the workers' compensation coverage. Claims Liabilities The District records an estimated liability for Workers' Compeusation claims filed prior to March I, Claims liabilities are based on estimates ofthe ultimate cost ofreported claims (including future claim adjustment expenses) and estimates for claims incurred, but not reported based on historical experience. 44

94 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Unpaid Claims Liabilities The fund establishes a liability for both reported and unreported events, which includes estimates of both future payments of losses and related claim adjustment expenses. The following represents the changes in approximate aggregate liabilities for the District from July 1,2010 to June 30, 2012: Property Workers' and Compensation Dental Vision Liability Total Liability Balance, July 1,2010 $ 63,000 $ 35,739 $ 6,154 $ $ 104,893 Claims and changes in estimates 8,382 1,168, , ,169 1,443,048 Claims payments (8,382) (1,156,441) (162,823) (74,911) (1,402,557) Liability Balance, June 30, ,000 47,312 6,814 28, ,384 Claims and changes in estimates 16,024 1,422, , ,027 2,239,126 Claims payments (16,024) (1,412,433) (260,620) (544,285) (2,233,362) Liability Balance, June 30, ,000 56,906 6,242 25, ,148 Assets available to pay claims at June 30, 2012 $ 63,000 $ 135,069 $ 25,156 $ 25,478 $ 248,703 NOTE 13 - EMPLOYEE RETIREMENT SYSTEMS Qualified employees are covered under multiple-employer retirement plans maintained by agencies ofthe State of California. Certificated employees are members of the California State Teachers' Retirement System (CaISTRS) and classified employees are members ofthe California Public Employees' Retirement System (CaIPERS). CalSTRS Plan Description The District contributes to the California State Teachers' Retirement System (CalSTRS), a cost-sharing multipleemployer public employee retirement system defined benefit pension plan administered by CaISTRS. The plan provides retirement and disability benefits, annual cost-of-living adjustments, and survivor benefits to beneficiaries. Benefit provisions are established by State statutes, as legislatively amended, within the State Teachers' Retirement Law. CalSTRS issues a separate comprehensive annual financial report that includes financial statements and required supplementary information. Copies ofthe CalSTRS annual financial report may be obtained from CaISTRS, at 7919 Folsom Boulevard Sacramento, California Fnnding Policy Active plan members are required to contribute 8.0 percent oftheir salary and the District is required to contribute an actuarially determined rate. The actuarial methods and assumptions used for determining the rate are those adopted by CalSTRS Teachers' Retirement Board. The required employer contribution rate for fiscal year was 8.25 percent of annual payroll. The contribution requirements of the plan members are established by State statute. The District's contributions to CalSTRS for the fiscal years ending June 30, 2012,2011, and 2010, were $3,914,775, $3,835,533, and $3,709,847, respectively, and equal 100 percent ofthe required contributions for each year. 45

95 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 CalPERS Plan Description The District contributes to the School Employer Pool under the California Public Employees' Retirement System (CaIPERS), a cost-sharing multiple-employer public employee retirement system defined benefit pension plan administered by CaIPERS. The plan provides retirement and disability benefits, annual cost-of-living adjustments, and survivor benefits to plan members and beneficiaries. Benefit provisions are established by State statutes, as legislatively amended, within the Public Employees' Retirement Laws. CalPERS issues a separate comprehensive annual financial report that includes financial statements and required supplementary information. Copies of the CaIPERS' annual financial report may be obtained from the CalPERS Executive Office, 400 P Street, Sacramento, California Funding Policy Active plan members are required to contribute 7.0 percent oftheir salary and the District is required to contribute an actuarially determined rate. The actuarial methods and assumptions used for determining the rate are those adopted by the CalPERS Board of Administration. The required employer contribution rate for fiscal year was percent, ofcovered payroll The contribution requirements ofthe plan members are established by State statute. The District's contributions to CalPERS for the fiscal years ending June 30, 2012, 2011, and 2010, were $1,988,303, $2,003,367, and $1,851,600, respectively, and equal 100 percent of the required contributions for each year. The payments noted above include employee contribution amounts paid by the district on behalf oftheir employees. Social Security As established by Federal law, all public sector employees who are not members of their employer's existing retirement system (CaISTRS or CaIPERS) must be covered by Social Security or an alternative plan. The District has elected to use the APPLE Retirement Program as its alternative plan. Contributions made by the District and an employee vest immediately. The District contributes 1.3 percent of an employee's gross earnings. An employee is required to contribute 6.2 percent ofhis or her gross earnings to the pension plan. On BehalfPayments The State ofcalifornia makes contributions to CalSTRS on behalf of the District. These payments consist of State General Fund contributions to CalSTRS in the amount of $2, 183,004, $1,983,782, and $1,918,775 for fiscal year ending June 30, 2012, 2011 and 2010 (4.855 percent of annual payroll and percent of annual payroll and percent of09-10 annual payrolls). Under accounting principles generally accepted in the United States of America, these amounts are to be reported as revenues and expenditures. Accordingly, these amounts have been recorded in these financial statements. On behalf payments have been excluded from the calculation ofavailable reserves, and have not been included in the budget amounts reported in the General Fund Budgetary Comparison Schedule. 46

96 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 14 - POSTEMPLOYMENT HEALTH CARE PLAN AND OPEB OBLIGATION Plan Description The Retiree Health and Welfare Benefit (the "Plan") is a single-employer defmed benefit healthcare plan administered by the Fremont Union High School District. The Plan provides medical and dental insurance benefits to eligible retirees and their spouses. Membership of the plan consists of 104 retirees and beneficiaries currently receiving benefits and 882 active plan members. The Plan is presented in these financial statements as the Retiree Benefits Trust Fund. Separate financial statements are not prepared for the Trust. Funding Policy The contribution requirements of plan members and the District are established and may be amended by the District and the Fremont Educators Association (FEA), the local California Service Employees Association (CSEA), and unrepresented groups. The required coutributiou is based on a closed 30 year amortization period and the level dollar method for the implementation year, and an open 30 year amortization period and level percentage ofpayroll method for subsequent years. For fiscal year , the District contributed $1,075, I02 to the plan, ofwhich $1,061,089 was used for current premiums. Plan members receiving benefits contributed approximately 21 percent ofthe total premiums. District contributes $553, $500 and $480 monthly for FEA, CSEA and FMS, respectively. Any premiums over the District's contribution are paid by plan members. Annual OPEB Cost and Net OPEB Obligation The District's annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the District's annual OPEB cost for the year, the amount actually contributed to the plan, and changes in the District's net OPEB obligation to the Plan: Annual required contribution Interest on net OPEB obligation Annual OPEB cost (expense) Contributions made Increase in net OPEB obligation Net OPEB obligation, beginning ofyear Net OPEB obligation, end ofyear $ $ 1,566, ,900 1,725,317 (1,075,102) 650,215 5,230,593 5,880,808 47

97 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 The trend information for annual OPEB cost, the percentage ofannual OPEB cost contrihuted to the Plan, and the net OPEB obligation for the past three years is as follows: Year Ended AnnualOPEB Actual Percentage NetOPEB June 30 Cost Contributions Contributed Obligation 2012 $ 1,725,317 $ 1,075, % $ 5,880, ,736,931 1,362, % 5,230, ,726,231 1,360, % 4,856,441 Funded Status and Fnnding Progress Actuarial valuations of an ongoing plan involve estimates ofthe value ofreported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, investment returns, mortality, and the healthcare cost trend. Amounts determined regarding the funded status ofthe piau and the annual required contributions ofthe employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the uotes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. A Schedule offunding progress as ofthe most recent actuarial valuation is as follows: fie-lui'lllal Accrued UAAL as a Actuarial Liability Percentage of Value of (AAL) - Entry Uufunded Covered Covered Assets Age Normal AAL(UAAL) Funded Ratio Payroll Payroll Actuarial Valuation Date (a) (b) (b - a) (a/b) (c) ([b-a]/c) February 1, 2012 $ 5,923,968 $ 9,838,919 $ 3,914,951 60% $ 66,793,472 6% Actnarial Methods and Assnmptions Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective ofthe calculations. In the February I, 2012, actuarial valuation, the entry age normal method was used. The actuarial assumptions included a 5.5 percent investment rate of return (net of administrative expenses), based on the plan being funded in an irrevocable employee benefit trust invested in a long-term fixed income portfolio. Healthcare cost trend rate, including Dental and Vision programs, assumed to be 4 percent. The UAAL is being amortized using a level percentage ofpayroll method. The calculation uses a closed 30 year amortization period for the initial UAAL and an open 30 year amortization period for any residual UAAL. The remaining amortization period at July 1,2012, was 30 years. AUune 30, 2012, the Trust held net assets in the amount of$6,047,

98 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 15 - COMMITMENTS AND CONTINGENCIES Grants The District received fmancial assistance from Federal and State agencies in the form of grants. The disbursement of funds received under these programs generally requires compliance with terms and conditions specified in the grant agreements and are subject to audit by the grantor agencies. Any disallowed claims resulting from such audits could become a liability ofthe General Fund or other applicable funds. However, in the opinion of management, any such disallowed claims will not have a material adverse effect on the overall financial position ofthe District at June 30, Litigation The District is involved in various litigations arising from the normal course of business. In the opinion of management and legal counsel, the disposition of all litigation pending is not expected to have a material adverse effect on the overall financial position ofthe District at June 30, Operating Leases The District has entered into several operating leases for copiers with lease terms in excess of one year. None of these agreements contain purchase options. All agreements contain a termination clause providing for cancellation after a specified number of days written uotice to lessors, but it is unlikely that the District will cancel any of the agreements prior to the expiration date. Future minimum lease payments under these agreements are as follows: Year Ending June 30, Total Lease Payment $ 233, ,522 45,627 45,627 45,627 14,586 $ 665,578 49

99 FREMONT UNION HIGH SCHOOL DISTRlCT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 Construction Commitments As ofjune 30, 2012, the District had the following commitments with respect to the unfinished capital projects: Capital Project District office remodel special edncation complex Cnpertino High School new library/ cafeteria/ guidance building Cupertino High School building remodels Cupertino High School weight room and PE classroom Fremont High School remodel cafeteria/ kitchen Fremont High School utility infrastructure Fremont High School building remodels Homestead High School remodel cafeteria/kitchen Homcstcad High School new field house Lynbrook High School utility infrastructure Lynbrook High School remodel guidance support services building Lynbrook enclose auditorium lobby Lynbrook High school track and fields Manta Vista High School remodel cafeteria/kitchen Manta Vista High School track and fields Total Expected Date of Completion Remaining Construction Commitment 09/2012 $ 852,468 04/ ,138 08/2014 1,004,593 06/2013 1,795,103 10/2015 1,261,273 12/2012 1,480,794 12/ ,480 08/2015 2,534 07/ , ,560 07/ ,873 12/ ,488 12/2012 4,898, , ,392,018 $ 20,013,917 50

100 FREMONT UNION HIGH SCHOOL DISTRICT NOTES TO FINANCIAL STATEMENTS JUNE 30, 2012 NOTE 16 - PARTICIPATION IN PUBLIC ENTITY RISK POOLS AND JOINT POWER AUTHORITIES The District is a member of the Silicon Valley Joint Powers Transportation Agency (SVJPA), the Santa Clara County Schools Insurance Group (SCCSIG), and the Northern California Regional Liability Excess Fund (North CaIReLiEF). The relationship between the District, the pools and the JPA's are such that they are not component units ofthe District for financial reporting purposes. These entities have budgeting and financial reporting requirements independent of member units and their financial statements are not presented in these financial statements; however, fund transactions between the entities and the District are included in these statements. Audited financial statements are generally available from the respective entities. The District has appointed one board member to the Governing Board of SVJPA, SCCSIG, and North CaIReLiEF. During the year ended June 30, 2012, the District made payments as follows: Related Entities SVJPA SCCSIG North CalReLiEF $ Service Payments 1,429, , ,311 Service provided Transportation for special education students Excess workers' compensation insurance Property and liability insurance NOTE 17-SUBSEQUENTEVENT Tax and Revenue Anticipation Notes The District issued $10,500,000 oftax and Revenue Anticipation Notes dated July 3, The notes mature on June 28, 2013, and yield 1.5 percent interest. The notes were sold to supplement cash flow. Repayment requirements are that 50 percent, percentage of principal and interest be deposited with the Fiscal Agent by April 2013, until 100 percent ofprincipal and interest due is on account in May All Other Subsequent Events The District's management has evaluated events or transactions that may occur for potential recognition or disclosure in the financial statements from the statement of net assets dated through November 7,2012, which is the date the financial statements were available to be issued. Management has determined that there were no subsequent events or transactions that would have a material impact on the current year financial statements. 5]

101 REQUIRED SUPPLEMENTARYINFORMATION 52

102 FREMONT UNION HIGH SCHOOL DISTRICT GENERAL FUND BUDGETARY COMPARISON SCHEDULE FOR THE YEAR ENDED JUNE 30, 2012 Variances - Favorable (Unfavorable) Budgeted Amounts Final Original Final Actual to Actual REVENUES Revenue limit sources $ 78,805,043 $ 79,080,335 $ 80,120,433 $ 1,040,098 Federal sources 4,664,669 4,997,486 5,018,133 20,647 Other State sources 44, ,863 1,535,697 1,333,834 Other local sources 10,457,781 11,213,698 11,308,954 95,256 Total Revenues 1 93,971,808 95,493,382 97,983,217 2,489,835 EXPENDITURES Current Certificated salaries 46,862,302 46,755,596 46,430, ,493 Classified salaries 15,635,949 15,014,558 15,754,335 (739,777) Employee benefits 20,325,107 20,826,746 19,864, ,342 Books and supplies 5,022,892 9,702,775 3,690,468 6,012,307 Services and operating expenditures 10,200,305 11,930,520 11,160, ,747 Other outgo (80,787) (153,564) (160,862) 7,298 Capital outlay 401, , ,645 Total Expenditures 1 97,965, ,478,059 97,003,004 7,475,055 Excess (Deficiency) of Revenues Over Expenditures (3,993,960) (8,984,677) 980,213 9,964,890 Other Financing Sources (Uses) Transfers in 3,080, , ,224 (140,663) Transfers out (3,902,601) (4,799,280) (4,609,476) 189,804 Net Financing Sources (Uses) (822,242) (3,953,393) (3,904,252) 49,141 NET CHANGE IN FUND BALANCES (4,816,202) (12,938,070) (2,924,039) 10,014,031 Fund Balance - Beginning 24,473,787 24,473,787 24,473,787 Fund Balance - Ending $ 19,657,585 $ 11,535,717 $ 21,549,748 $ 10,014,031 I On behalf payments ofs2,138,907 arc excluded from this comparison schedule. 53

103 FREMONT UNION HIGH SCHOOL DISTRICT SCHEDULE OF OPEB FUNDING PROGRESS FOR THE YEAR ENDED JUNE 30, 2012 Actuarial Accrued Liability Unfunded UAALasa Actuarial (AAL) - AAL Percentage of Valuation Actuarial Value Entry Age (UAAL) Funded Ratio Covered Covered Payroll Date of Assets (a) Normal (b) (b - a) (a I b) Payroll (c) ([b-a]/c) February 1,2012 $ 5,923,968 $ 9,838,919 $ 3,914,951 60% $ 66,793,472 6% July 1, ,220,426 12,350,235 7,129,809 42% 60,506,995 12% July 1,2009 5,558,257 13,585,150 8,026,893 41% 64,942,III 12% 54

104 SUPPLEMENTARYINFORMATION

105 FREMONT UNION HIGH SCHOOL DISTRICT SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2012 Federal GrantorlPass-Through GrantorlProgram or Cluster Title u.s. DEPARTMENT OF EDUCATION Passed through California Department ofeducation (CDE): Adult Education Act: Adult Section 132 English as a Second Language (ESL) Adult Secondary Education English Literacy and Civics Education No Child Left Behind Act: Title II- Part A, Administrator Training Title lil-limited English Proficiency (LEP) Title II-Teacher Quality Individuals with Disabilities Act: Basic Local Assistance Entitlement ARRA IDEA Part B, Sec 611, Basic Local Assistance Education Jobs Fund Carl D Perkins Act: Technology Secondary, Section 131 Department of Rehabilitation: Workability II, Transitions Partnership Total U.S. Department ofeducation Pass-Through Federal Entity CFDA IdentifYing Federal Number N=um",,,,b.:::er,--_ Expenditures $ 31, A , , A , , , , ,738, A , ,326, , ,067 5,272,246 U.S. DEPARTMENT OF AGRICULTURE Passed through CDE: Child Nutrition Cluster National School Lunch National School Breakfast Especially Needy Breakfast 2 Commodity Supplemental Food Program Total U.S. Department ofagriculture I 356,724 43, ,459 54, ,574 Total Expenditures of Federal Awards $ 5,892,820 1Pass-Through Entity Identifying Number not available 2 Not recorded in the financial statements See note to information. 56

106 FREMONT UNION HIGH SCHOOL DISTRICT LOCAL EDUCATION AGENCY ORGANIZATION STRUCTURE JUNE 30, 2012 ORGANIZATION The Fremont Union High School District was established in 1925 under the laws of the State of California and consists of an area comprising approximately 42 square miles. The District operates five high schools, one alternative high school, one adult school and one independent study school. There were no boundary changes during the year. GOVERNING BOARD MEMBER Hung Wei Nancy Newton Horner Tong Barbara Nunes Bill Wilson Hadar Sachs OFFICE President Vice President Clerk Member Member Student Member TERM EXPIRES ADMINISTRAnON NAME Polly Bove Kate Jamentz Christine Mallery Glenn Evans Superintendent Academic Deputy Superintendent ChiefBusiness Officer, Associate Superintendent Chief Operating Officer, Associate Superintendent See accompanyiug note to supplementary information. 57

107 FREMONT UNION HIGH SCHOOL DISTRICT SCHEDULE OF AVERAGE DAILY ATTENDANCE FOR THE YEAR ENDED JUNE 30, 2012 SECONDARY Regular classes Home and hospital Community day school Special education Total K-12 Final Report Second Period Annnal Report Report 9, ,130 9, ,123 See oe,'nrrmo,,,,;,w note to information, 58

108 FREMONT UNION HIGH SCHOOL DISTRICT SCHEDULE OF INSTRUCTIONAL TIME FOR THE YEAR ENDED JUNE 30, 2012 Reduced Reduced Number ofdays Actual Actual Minutes Minutes Actual Traditional Grade Level Minutes Minutes Requirement Requirement Minutes Calendar Status Grade 9 62,054 60,330 64,800 63,000 65, Complied Grade 10 62,054 60,330 64,800 63,000 65, Complied Grade 11 62,054 60,330 64,800 63,000 65, Complied Grade 12 62,054 60,330 64,800 63,000 64, Complied Fremont Union High School District is a basic aid school district. Therefore, the District does not receive longer instructional day and longer instructional year incentive funding. See accompanying note to supplementary information. 59

109 FREMONT UNION HIGH SCHOOL DISTRICT RECONCILIATION OF ANNUAL FINANCIAL AND BUDGET REPORT WITH AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2012 Summarized below are the fund balance reconciliations between the Unaudited Actual Financial Report and the audited financial statements. FUND BALANCE Balance, June 30, 2012, Unandited Actuals llcrease in acconnts payable Balance, June 30, 2012, Audited Financial Statement $ $ Building Fund 69,144,567 (942,079) 68,202,488 See accompanying note to information. 60

110 FREMONT UNION HIGH SCHOOL DISTRICT SCHEDULE OF FINANCIAL TRENDS AND ANALYSIS FOR THE YEAR ENDED JUNE 30, 2012 (Budget) 2013' GENERAL FUND 2 Revenues $ 94,684,066 $ 97,983,217 $ 97,339,621 $102,321,221 Other sources 3,366, , , ,062 Total Revenues and Other Sources 98,050,852 98,688,441 97,685, ,422,283 Expenditures 101,023,113 97,003,004 95,108,986 92,494,648 Other uses and transfers out 782,830 4,609,476 1,181,221 1,416,683 Total Expenditures and Other Uses 101,805, ,612,480 96,290,207 93,911,331 INCREASE (DECREASE) IN FUND BALANCE $ (3,755,091) $ (2,924,039) $ 1,394,806 $ 8,510,952 ENDING FUND BALANCE $ 17,794,658 $ 18,436,267 $ 21,360,306 $ 19,965,500 AVAlLABLE RESERVES $ 5,180,353 $ 4,810,611 $ 11,208,355 $ 4,976,198 AVAlLABLE RESERVES AS A PERCENTAGE OF TOTAL OUTGO] 5.09% 4.88% 11.64% 5.30% LONG-TERM DEBT $ 266,679,665 $277,979,889 $ 282,139,051 $217,135,910 K-12 AVERAGE DAlLY ATTENDANCE AT P ,190 10,130 10,051 9,928 The General Fund balance has increased by $1,584,248 over the past two years. The fiscal year budget projects a decrease of $3,755,091 (17 percent). For a district this size, the State recommends available reserves ofat least 3 percentoftotal General Fund expenditures, transfers out, and other uses (total outgo). The District has incurred an operating surplus in the past year but anticipates incurring an operating deficit during the fiscal year. Totallong-terrn obligations have increased by $60,843,979 over the past two years due to the issuance of$71,378,575 in general obligation bonds in fiscal year Average daily attendance has increased by 202 over the past two years. anticipated during fiscal year Additional increase of 60 ADA is 1Budget is included for analytical purposes only and has not been subjected to audit. 2 Available reserves consist of all unassigned fund balances including all amounts reserved for economic uncertainties contained with the General Fund. 3 On-behalf payments of $2,138,907, $1,874,068, and $1,985,885 recorded in the general fund have been excluded from this schedule and from the calculation of available reserves for fiscal years ending June 30, 2012, 201 L and 2010, respectively. 4 Excludes adult ADA 5 Transfers of committed fund balances from General fund to Adult Education fund and Deferred Maintenance fund in the amount of $1,380,243 and $1,733,237, respectively, while included in the transfers out amount in 2012 column, are excluded from calculation of available reserves. See note to information. 61

111 FREMONT UNION HIGH SCHOOL DISTRICT NON-MAJOR GOVERNMENTAL FUNDS COMBINING BALANCE SHEET JUNE 30, 2012 Adult Deferred Educatiou Cafeteria Maintenance Fund Fnnd Fund ASSETS Deposits and investments $ 1,642,108 $ 110,046 $ 2,135,204 Receivables 1,310, ,505 3,385 Dne from otber funds 500,000 Stores inventories 40,960 Total Assets $ 2,952,923 $ 291,511 $ 2,638,589 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable $ 41,570 $ 56,974 $ Due to otber funds 1,679, ,034 Deferred revenue 39,352 48,168 Total Liabilities 1,760, ,176 Fund Balances: Nonspendable ,335 Restricted 24,836 Committed 1,166,584 2,638,589 Total Fund Balances 1,192,170 41,335 2,638,589 Total Liabilities and Fund Balances $ 2,952,923 $ 291,511 $ 2,638,589 See "c.cnmmrlvin infonnation. 62

112 Capital County School Total Nou-Major Facilities Facilities Governmental Fund Fund Funds $ 2,371,941 $ 738,302 $ 6,997,601 3,013 11,458 1,469, ,000 40,960 $ 2,374,954 $ 749,760 $ 9,007,737 $ 3,848 $ 63,771 $ 166, ,130 1,925,995 87,520 3, ,901 2,179,678 42,085 2,371, ,859 2,980,801 3,805,173 2,371, ,859 6,828,059 $ 2,374,954 $ 749,760 $ 9,007,737 63

113 FREMONT UNION HIGH SCHOOL DISTRICT NON-MAJOR GOVERNMENTAL FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED JUNE 30, 2012 Adult Deferred Education Cafeteria Maintenance Fund Fund Fund REVENUES Federal sources $ 254,113 $ 565,611 $ Other State sources 2,633,069 51, ,398 Other local sources 1,337,348 1,307,779 13,614 Total Revenues 4,224,530 1,924, ,012 EXPENDITURES Current Instruction 1,216,227 Instruction-related activities: Supervision of instruction 78,145 Instructional library, media, and technology 110,097 School site administration 1,528,768 Pupil services: Food services 2,544,704 Administration: All other administration 119,230 63,752 Plant services 217, ,430 Facility acquisition and construction Total Expenditures 3,269,577 2,608, ,430 Excess (Deficiency) of Revenues Over Expenditures 954,953 (683,817) 11,582 Other Financing Sonrces (Uses) Transfers in 1,380, ,899 2,627,007 Transfers out (1,143,026) Net Financing Sources (Uses) 237, ,899 2,627,007 NET CHANGE IN FUND BALANCES 1,192,170 (51,918) 2,638,589 Fnnd Balance - Beginning 93,253 Fund Balance - Ending $ 1,192,170 $ 41,335 $ 2,638,589 See note to 64

114 Capital County School Total Non-Major Facilities Facilities Governmental Fund Fund Funds $ $ $ 819,724 3,076,716 1,205,687 17,258 3,881,686 1,205,687 17,258 7,778,126 65

115 FREMONT UNION HIGH SCHOOL DISTRICT NOTE TO SUPPLEMENTARY INFORMATION JUNE 30, 2012 NOTE 1 - PURPOSE OF SCHEDULES Schedule of Expeuditures offederal Awards The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the District and is presented on the modified accrual basis of accounting. The iuformatiou iu this schedule is presented in accordance with the requirements of the United States Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The following schedule provides recouciliation between revenues reported on the Statement of Revenues, Expenditures, and Changes in Fund Balance and the related expenditures reported on the Schedule of Expenditures offederal Awards. Federal Revenues report in the Statement of Revenues, Expenditures and Change in Fund Balances Federal interest subsidy from Build America Bonds Act Commodities Total Schedule of Expenditures offederal Awards CFDA Number Not Applicable $ $ Amount 6,988,579 (1,150,722) 54,963 5,892,820 Local Education Agency Organization Structure This schedule provides information about the District's boundaries and schools operated, members of the governing board, and members ofthe administration. Schedule ofaverage Daily Attendance (ADA) Average daily attendance (ADA) is a measurement of the number of pupils attending classes of the District. The purpose of attendance accounting from a fiscal standpoint is to provide the basis on which apportionments of State funds are made to school distticts. This schedule provides information regarding the attendance of students at various grade levels and in different programs. Schednle ofinstructional Time The District does not receive incentive funding for increasing instructional time as provided by the Incentives for Longer Instructional Day. This schedule presents information on the amount of instructional time offered by the District and whether the District complied with the provisions of Education Code Sections through Districts must maintain their instructional minutes at either the actual minutes or the requirements, whichever is greater, as required by Education Code Section 4620I. Senate Bill 2 of the fourth extraordinary session (SBX 42) allows for an equivalent five-day reduction to the required number of instruction minutes for the fiscal years through

116 FREMONT UNION HIGH SCHOOL DISTRICT NOTE TO SUPPLEMENTARY INFORMATION - CONTINUED JUNE 30, 2012 Reconciliation of Annual Financial and Budget Report with Audited Financial Statemeuts This schedule provides the information necessary to reconcile the fund balance of all funds reported on the Unaudited Actual Financial Report to the audited financial statements. Schedule of Fiuancial Trends and Aualysis This schedule discloses the District's financial trends by displaying past years' data along with current year budget information. These financial trend disclosures are used to evaluate the District's ability to continue as a going concern for a reasonable period oftime. Non-Major Governmental Funds - Balance Sheet and Statement of Revenues, Expenditures and Changes in Fund Balance The Non-Major Governmental Funds Combining Balance Sheet and Combining Statement of Revenues, Expenditures and Changes in Fund Balance is included to provide information regarding the individual funds that have been included in the Non-Major Governmental Funds column on the Governmental Funds Balance Sheet and Statement ofrevenues, Expenditures, and Changes in Fund Balance. 67

117 INDEPENDENTAUDITOR'S REPORTS

118 Vavrinek, Trine, Day &Co., llp Certified Public Accountants ~ ~ VALUE THE DIFFERENCE '" ~~ ~ '" INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITINGSTANDARDS Governing Board Fremont Union High School District Sunnyvale, California We have audited the fmancial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Fremont Union High School District as of and for the year ended June 30, 2012, which collectively comprise Fremont Union High School District's basic fmancial statements and have issued our report thereon November 7, We conducted our audit in accordance with auditing standards generally accepted in the United States ofamerica and the staudards applicable to financial audits contained in Government AuditingStandards, issued by the Comptroller General ofthe United States. Internal Control Over Financial Reporting The management offremont Union High School District is responsible for establishing and maintaining effective internal control over financial reporting. In planning and performing our audit, we considered Fremont Union High School District's internal control over fmancial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the fmancial statements, but not for the purpose of expressing an opinion on the effectivenessofthe Fremont Union High School District's internal control over fmancial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fremont Union High School District's internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. Our consideration ofinternal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over fmancial reporting that we consider to be material weaknesses, as defined previously Sheridan Avenue, Suite 440 Palo Alto, CA Tel: Fax: FRESNO LAGUNA HILLS. PALO ALTO PLEASANTON RANCHO CUCAMONGA RIVERSIDE SACRAMENTO

119 Compliance and Other Matters As part of obtaining reasonable assurance abont whether Fremont Union High School District's [mancial statements are free ofmaterial misstatement, we performed tests ofits compliance with certain provisions oflaws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under GovernmentAuditing Standards. This report is intended solely for the information and use ofthe governing board, audit committee, management, the California Department of Education, the State Controller's Office, Federal awarding agencies, and passthrough entities, and is not intended to be and should not be used by anyone other than these specified parties. J~~~~~U/J Palo Alto, California November 7,

120 Vavrinek, Trine, Day &Co., llp Certified Public Accountants YA( L LJ E T f-i E D I r r ERE NeE INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULARA-133 Governing Board Fremont Union High School District Swrnyvale, California Compliance We have audited Fremont Union High School District's compliance with the types of compliance requirements described in the us. Office ofmanagement and Budget (OME) Circular A-l33 Compliance Supplement that could have a direct and material effect on each of Fremont Union High School District's major Federal programs for the year ended June 30, Fremont Union High School District's major Federal programs are identified in the summary of auditors' results section of the accompanying schedule of findings and questioned costs. Compliance with the requirements of laws, regulations, contracts, and grants applicable to each of its major Federal programs is the responsibility offremont Union High School District's management. Our responsibility is to express an opinion on Fremont Union High School District's compliance based on our audit. We.conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, andnon-profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evideuce about Fremont Union High School District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination offremont Union High School District's compliance with those requirements. In our opinion, Fremont Union High School District complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major Federal programs for the year ended June 30, Sheridan Avenue, Suite 440 Palo Alto, CA Tel: Fax: FRESNO LAGUNA HILLS PALO ALTO PLEASANTON RANCHO CUCAMONGA RIVERSIDE SACRAMENTO

121 Internal Control Over Compliance The management offremont Union High School District is responsible for establishing and maintaining effective internal control over compliance with the requirements of laws, regulations, contracts, and grants applicable to Federal programs. In planning and performing our audit, we considered Fremont Union High School District's internal control over compliance with the requirements that could have a direct and material effect on a major Federal program to determine the auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133, bnt not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness ofthe Fremont Union High School District's internal control over compliance. A deficiency in internal control over compliance exists when the design or operation ofa control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a Federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type ofcompliance requirement ofa Federal program will not be prevented, ordetected and corrected, on a timely basis. Our consideration ofinternal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. This report is intended solely for the information and use of the governing board, audit committee, management, the California Department of Education, the State Controller's Office, Federal awarding agencies, and passthrough entities and is not intended to be and should not be used by anyone other than these specified parties. ~~~~~~4yUiJ Palo Alto, California November 7,

122 Vavrinek, Trine, Day &Co., llp Certified P'ublic Accountants,~;:- ~ ~ ~ ~ VA LlJ E T iii E D IFF ERE IN C '$;~="'2 ~~ _~_= INDEPENDENT AUDITOR'S REPORT ON STATE COMPLIANCE Governing Board Fremont Union High School District Sunnyvale, California We have audited Fremont Union High School District's compliance with the requirements as identified in the Standards andproceduresfor Audit ofcalifornia K-12 Local Educational Agencies applicable to Fremont Union High School District's government programs as noted below for the year ended June 30, Compliance with the requirements referred to above is the responsibility of Fremont Union High School District's management. Our responsibility is to express an opinion on Fremont Union High School District's compliance based on our andit. We conducted our audit in accordance with anditing standards generally accepted in the United States ofamerica; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and the Standards andproceduresfor Audits ofcalifornia K-12 Local Educational Agencies require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the compliance requirements referred to above that could have a material effect on the applicable government programs noted below. An audit includes examining, on a test basis, evidence about Fremont Union High School District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinions. Our audit does not provide a legal determination offremont Union High School District's compliance with those requirements. In our opinion, Fremont Union High School District complied, in all material respects, with the compliance requirements referred to above that are applicable to the government programs noted below that were audited for the year ended June 30, In connection with the audit referred to above, we selected and tested transactions and records to determine the Fremont Union High School District's compliance with the State laws and regulations applicable to the following items: Attendance Accounting: Attendance reporting Teacher certification and missassignments Kindergarten continuance Independent study Continuation education Procedures in Audit Guide Procedures Performed Yes Yes Not Applicable Not Applicable Not Applicable Sheridan Avenue, Suite 440 Palo Alto, CA Tel: Fax: FRESNO 0 LAGUNA HlLLS 0 PALO ALTO PLEASANTON RANCHO CUCAMONGA RIVERSIDE SACRAMENTO

123 Instructional Time: School districts County offices ofeducation Instructional Materials: General requirements Ratios ofadministrative Employees to Teachers Classroom Teacher Salaries Early Retirement Incentive Gann Limit Calculation School Accountability Report Card Public Hearing Requirement - Receipt offunds Juvenile Court Schools Exclusion ofpupils - Pertussis Immunization Class Size Reduction Program (including in Charter Schools): General requirements Option one classes Option two classes District or charter schools with only one school serving K-3 After School Education and Safety Program: General requirements After school Before school Charter Schools: Contemporaneous records ofattendance Mode ofinstruction Non classroom-based instruction/independent study Determination offunding for non classroom-based instruction Annual instruction minutes classroom based Procedures in Audit Guide Procedures Performed 6 Yes 3 Not Applicable 8 Yes I Yes 1 Yes 4 Not Applicable I Yes 3 Yes 1 Yes 8 Not Applicable 2 Yes 7 Not Applicable 3 Not Applicable 4 Not Applicable 4 Not Applicable 4 Not Applicable 4 Not Applicable 6 Not Applicable 1 Not Applicable I Not Applicable 15 Not Applicable 3 Not Applicable 4 Not Applicable This report is intended solely for the information and use ofthe governing board, audit committee, management, the California Department of Education, the State Controller's Office, the California Department of Finance, Federal awarding agencies, and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties..zy~~~.$-4yu J Palo Alto, California November 7,

124 SCHEDULE OF FINDINGSAND QUESTIONED COSTS 75

125 FREMONT UNION HIGH SCHOOL DISTRICT SUMMARY OF AUDITOR'S RESULTS FOR THE YEAR ENDED JUNE 30, 2012 FINANCIAL STATEMENTS Type ofauditor's report issued: Internal control over financial reporting: Material weaknesses identified? Significant deficiencies identified not considered to be material weaknesses? Noncompliance material to financial statements noted? FEDERAL AWARDS Internal control over major programs: Material weaknesses identified? Significant deficiencies identified not considered to be material weaknesses? Type ofauditor's report issued on compliance for major programs: Any audit findings disclosed that are required to be reported in accordance with Circular A-133, Section.510(a) ofomb Circular A-133? Identification ofmajor programs: Unqualified No None reported No No None reported Unqualified No CFDA Numbers Name offederal Program or Cluster Education Jobs Fund Dollar threshold used to distinguish between Type A and Type B programs: Auditee qualified as low-risk auditee? STATE AWARDS Type ofauditor's report issued on compliance for State programs: $ 300,000 Yes Unqualified 76

126 FREMONT UNION HIGH SCHOOL DISTRICT FINANCIAL STATEMENT FINDINGS FOR THE YEAR ENDED JUNE 30, 2012 None reported. 77

127 FREMONT UNION HIGH SCHOOL DISTRICT FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2012 None reported. 78

128 FREMONT UNION HIGH SCHOOL DISTRICT STATE AWARDS FINDINGS AND QUESTIONED COSTS FOR THE YEAR ENDED JUNE 30, 2012 None reported. 79

129 FREMONT UNION HIGH SCHOOL DISTRICT SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS FOR THE YEAR ENDED JUNE 30, 2012 There were no audit findings reported in the prior year's schedule of financial statement findings. 80

130 Fremont Union High School District 2012 Continuing Disclosure Annual Report G. Current Year Budget for Fiscal Year 2012/13 Page 15

131 FREMONT UNION HIGH SCHOOL DISTRICT FIRST INTERIM BUDGET December 4, 2012

132 Fremont Union High Santa Clara County First Interim General Fund Unrestricted (Resources ) Revenues, Expenditures, and Changes in Fund Balance Form 011 Description Resource Codes Object Codes I Board Approved Origin~lrUdget Ioperati~:) Budget Actual7c~o Date Projected Year T~:;;'S A.REVENUES 1) Revenue Umit Sources 2) Federal Revenue 3) Other State Revenue 4) Other Local Revenue 5)TOTAL,REVENUES B.EXPENDITURES 8010,.ao ,553, ,553, ,474, ,436, ,882, % _.. ~....,J!:QQ.~_,- ---'0".0"'0 --'O".O"'O+- "O,."'OO"+_.~O=.O~ _~~~.. (1,564, {262,457.69} (902; , ':& _ 6,977, ,977, ,359.",, --'7"',2,,8"'5\",6,,'-"'.,,00"-j on,.<" on,,ccc""...~ 82,966, ,966, ,630, , ) Certificated Salaries 2) Classified Salaries 3) Employee Benefits 4) Books and Supplies 5) Services and Other Operating Expenditures 6) Capital Outlay 7) Other Outgo (excluding Transfers of Indirect Costs) 8) Other Outgo - Transfers ofindirect Costs mtotal, EXPENDITURES ,983, ,983,757,QQ.. ~~ ,879, ~ f--,.. 9,702,902.oo 9,702,902:.00 2,6t! _9,865, (162, _--=1.c:lli ,--,16021, _16,021, ,287, ".15,494, % 4{) r--'w 4,036,5.Q~,,_ 4,036,50~~.J!.92, ,926, ,890,488.57\ % 500D-5999, ,. 5,380,803.J~~,5,380,a ,712, ,838,724.",.00,,+ (~445~?,921.00) ~ ~.._ 65,OQQ:QQ..~.. 65,00.J15, ,00 45, % {) ,_~.....Q:QQ ,,44 _~!,~_,_. (1,031,~~~ l1qq1~ 73, ,159, ,243, ,039, (15,44 New 29% C. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES la5 B9) 9,807, ,807, (12, , I D. OTHER FINANCING SOURCESIUSES 1) Interfuod Transfers a) Transfers In b) Transfers Out 2) Other SourceslUses a) Sources b) Uses Califomia Dept of Education SACS Financial Reporting Software

133 Fremont Union High Santa Clara County 2012~13 FirSt Interim General Fund Unrestricted(Resources OOOO~1999) Revenues, Expenditures, and Changes in Fund Balance Form 011 DescriDfion Resource Codes Object Codes Projected Year T~g;'s E. NET INCREASE (DECREASE) IN FUND BALANCE (C + D41 (3,BOl {3,8m {7,713, F. FUNO BALANCE, RESERVES 1) Beginning Fund Balance a) As ofjuly 1- Unaudited 9791 ~ 16,651, m. 16,651, % b) Audit Adjustments % c) As of July. 1 - Audited (Fla + Flb) d) Other Restatements e) Adjusted Beginning Balance (F1C + Fld) 16,651~ ,651, O~OO.~.~.Q,QQ. 16,651, ,65J~ 16,651, ,651, % 2) Ending Balance, June 30 (E + Fle) 12,849, ,849, ,937, Components of Ending Fund Balance a) Nonspendable RevOlving Cash ,000.OQ 15,00 l.~. 15,00 Stores 9712 " q~qq. ~---...Q,QQ Q,QQ ~ I ~. -.~ ~ I !till!!till! 9750 f ~ 9760 f---~.._._--~ 9780 _._.- 7,634,437.89, _ 7,534, ~,9.9J I I ~!l~, f-.3,622, I pe~~, " 9789 I 5,200,00 _ 9790 r.-... _-~ i I ~._. ~~O,QQ~ California Dept of Education SACS Financial Reorntinn SOf\w;lrP _?n1??n

134 Fremont Unl()n High Salita Clara County First Interirri General Fund Unrestricted (Resources ) Revenues, Expenditures, and Changes in Fund Balance Form 011 Descri tion Resource Codes Object Codes Board Approved Original Budget Operating Budget Actuals To Date B C Projected Year Totals D Difference (Col B& D) % Diff IElB) F REVENUE LIMIT SOURCES Principal Apportionment State Aid -Current Year Charter Schools General Purpose Entitlement - State Aid State Aid _. Prior Years TaxRelief SubventionS Homeowners' Exemptions Timber Yield Tax Other Subventionslln-lieu Taxes 8011 ~ 8015 I I I~ I, _~, ~, ~ _"_~5,439.oo._~ %..." ~. ~O /0 O~OO ~ ~,~ " ,840.oo 552,84.. ~,,_._ 548,000:00 4,84-0.9%.. ~ O.OO 0.0% Q.oo -._.._-._ 0.0% COUnty & District Taxes secured Roll Taxes Unsecured Roll Taxes Prior Years' Taxes Supplemental TaXes _ 73,459,38. 73,459,38 --_.---_.~,.._ 74,883,00 1,423,62 1.9% 5,779,32. _----3!.TI!,32,,~~, ,189,00 " 409,68 7.;).%..~,,_,,~09 0-,0% _.,,,,_ ~ 0.0% Education Revenue Augmentation Fund (ERAF) Community Redevelopment Funds (SB 617/ ) , , ;00 " - ~:I.~:: Penalties and Interest from Delinquent Taxes Miscellaneous Funds (EC 41604) Royalties and Bonuses Other In-Lieu Taxes ~ _~ -~QO 00..\.." Q,Q%.. -.,, 0 0.0% ~ 0.0% Less: Non-Revenue Limit (50%) Adjustment % ~ubtotal; _Revenue Lil'!lit Sources Revenue Limit TranSfers Unrestricted Revenue Limit TranSfers - Current Year Continuation Education ADA Transfer Community Day Schools TranSfer ( ) ) I - I I I (2,()fi~,44():()()J r _O"OO_~O% Special Education ADA Traoster All Other Revenue Limit Transfers - Current Year PERS Reduction Transfer Transfers to Charter Schools in Lieu of Properly Taxes Property Taxes Transters Revenue Limit Transfers - Prior Years IOTAL. REVENUE!:-!MITSOURCES All Other , _,. -11,854.00) ---_-----.MQ 110,854.00) ~9...M.Q 5.4!4, ~" 0.0% --~. _ 0.0% ---- _~o _.0.0% i;0,854~l Q,O% _. -,._~,_, 0.0% , ,882, _?:...:4% FEDERAL REVENUE Maintenance and Operations 8110 Q,QO Special Education Entitlement Special Education Discretionary Grants f--~~---"'o"".o cf~~~~o."'oo~~~~~o"'.oo~~~~~o"',oo ~~~~-,0",,:,0.9 o.oo"'t_~~~-"o,,,oo"'t_~~--"(j.,,o.g Child Nutrition Programs Forest Reserve Funds Flood Control Funds Wildlife Reserve Funds caiifornia Dept of Education ~~C~ Fi~anc~al Rep(ntingSoftware

135 Fremont Union High Santa Clara County First Interim Gerieral Fund Unrestricted (Resources ) Revenues, Expenditures, and Changes in Fund Balance FOnTi 011 Boam Projected Year Difference Object Original Budget. (~;BUd.et Dale Totals (Col S& D) OescriDtion Resource Codes Codes (C) NClBIlASA , 3011 ~ 3024, 3026,3299, , ,4202, , NClB: Title I, PartA, Basic Grants low"/ncome and Neglected NClB: Title I, Part D, local Delinquent Program NClS: Title II, Part A, Teacher Quality NClS: Title III, Immigration Education Program NClS: Title III, Limited English Proficient (lep) Student Program NClS: Title v, Part B, Public Charter Schools Grant Program (PCSGP) Vocational and Applied Technotogy Education Safe and Drug Free Schools Other Federal Revenue All Other 8290 a~i a~ 00% TOTAL, FEDERAL REVENUE 000 I % OTHER STATE REVENUE Other State Apportionments Community Day School Additional Funding Current Year Prior Years ROCIP Entitlement Current Year Prior Years Special Education Master Plan Current Year Prior Years Home~to-SchootTransportation Economic Impact Aid Spec. Ed. Transportation All Other State ApPOrtionments - Current Year All Other 8311 a~ a~ 0.0% AU Other State Apportionments - Prior Years All Other 8319 I aaa ann 000 -~ Year Round School Incentive ao% Class Size Reduction, K a~ aao a~ ann Child Nutrition Programs nnn am 0;00 Mandated Costs Reimbursements 8550 a~ ann R" Now lottery - Unrestricted and Instructional Materials _ _-.00 """ <00 0< 1 0<0<" ~ 07. n70 no 10R% Tax Relief Subventions Restricted levies - Other Homeowners' Exemptions , Other Subventionslln~LieuTaxes 8576 Don :;~ 000 ODO '_ Pass-Through Revenues from State Sources _ OaW, School Based Coordination Program After School Education and Safety (ASES) Charter School Facility Grant DruglAlcoholfT"obacco Funds Healthy Start School Community Violence Prevention Grant - -- _. J~ R,-an -- --

136 Fremont Union High Santa Clara County Firsllnterim General Fund Unrestricted (Resources OO()(};1999) Revenues, Expenditures, and Changes in Fund Balance Form Oil Descri on Resource Codes Object Codes Original Budget (A) Actuals To Date Projected Year Totals Difference (CoIB&D) Quality Education Investment Act All Other State Revenue All Other 8590 I--,T"O"TA"L""-,O"T",H",E"R"S"T",A"T",Ec:R",E"V",E"N"U,,E,,--_ ,_.,- OTHER LOCAL REVENUE Other Local Revenue County and District Taxes Other Restricted Levies Secured Roll Unsecured Roll Prior Years' Taxes Supplemental Taxes Non~Ad Valorem Taxes Parcel Taxes Other CommunitY Redevelopment' Funds Not SUbject to RL Deduction Penalties and Interest from Delinquent Non-Revenue LimiiTaxes Sales Sale of EquipmenVSupplies Sale of Publications Food Service Sales All Other Sales Leases and Rentals Interest Nellncrease (Decrease) in the FairValue of Investments _ 6,00,,ooo.oo 6,00 _::UlO.O% _.. " ~,,0.,,00,,+~,.,,,,""'''+_''..',.".,."'''''+_ '"..,....Q.OO 0.0% Fees and Contracts Adult Education Fees Non-Resident Students Transportation Fees From Individuals Transportation Services InteragencY Services Mitigation!Developer Fees All Other Fees and Contracts Other Local Revenue 7230,7240 All Other Plus: Mise Furds Non-Revenue Limit (50%) Adjustment Pass-Through Revenues From Local Sources All Other Local Revenue Tuition All Other Transfers In _ ,._--' ,-_., M'_ 0,00 _..._,,0:00 _"_.. ~ ~_~OQ ,_ ? ,0942~,321,098.0Q '._-,---"- --~ ~~C!.OO --,,_._~-- _ g! :8.0%...,Q.O% 0.0% Transfers OfApportionments Special Education SElPA Transfers From Districts or Charter Schools From County Offices From JPAs ROCIP Transfers From Districts or Charter Schools From County Offices From JPAs Oth:r Tr~~r:~of APP:9.'!!.~'!.!.~~~,,,._ From Districts or Charter Schools From County Offices I _._ I"_,,,_ '.,-'-- ~~Othe' = m., oool~_--'o ~ ---, ~:j -.-A!L0ther 8792 J ~ 000 ~Q ~_, 0.0% "_, 0.0% :alifornia Dept of Education :iacs Financial RenDItinn SnflwJ'ln:! _?('}1?? ('}

137 _...- Fremont Union High Santa Clara County ~13 First Interim General Fund Unrestricted (Resources OOOO~1999) Revenues, Expenditures, and Changes in Furl::! Balance Form 011 Board Approved I Projected Year Difference %Diff Object Origin~~~Udget Operating Budget Actuals To Date I TO~IS (CoIB&D) {'ii!i' Description Resource Codes Codes IBI Ie, 1O IE' From JPAs All Other % All Other Transfers In from All Others 8799 ~~ r--~_o.oo -"~. 0.9"4.' IOTAL, OTHER LOCAL REVENUE -.~,-----_..._." 6,977, ,977, _,_..A~~ 7,285, q?~ ----~,~ I TOTAL, REVENUES j 85,819,432.00L.~ ,966, ,966,873,Q!LL 5,630,251,99 2,852, %

138 420, Fremont Union High Santa Clara County firstlnterlm General Fund Unrestricted (Resources ) Revenues, Expeilditures, aild Changes in Fuild Balance Form 011 Descriotion ResourceCodes CERTIFICATED SALARIES Certificated Teachers' Salaries Certificated PuplJ Support Salaries Certificated Supervisors' am Administrators' Salaries Other Certificated Salaries TOTAL, CERTIFICATED SALARIES CLASSIFIED SALARIES Object Codes OriginatBudget la' 30,146, " 5,773, Board Approved Projected Year Difference I, % Diff Operating Budget Actuals To Date Totals (Col S& D) (~F-.l "" Ie> 10\ IE'.., I , , ~._ 277,40 I 0.9% 2_,951, ~1, "5"'85",'.11"0"'.3"'0+ _3"."083""'.9,,2,,4,,.0"'0'j-~,, j132,89!,qq,f-----_._..~,~ 5,773, ,833, _ 5,767,54..1,QQ.,113, ,431.00" 55, ~., _ 15Q~ 38,983, ,983, "'."65"'6",3"'6"'9,, "'38"'.8,,7'.'9"'.8,,96"".00"'-1 _ 5,51 t.qq. f------c-,,~ {46, % 103, % Classified Instructional Salaries Classified Support Salaries Classified Supervisors' aild Administrators' Salaries Clerical, Technical and Office Salaries Other Classified Salaries...l0TAL, CLASSIFIED SALARIES , "" _ 832,14~~,------_, " 24,448,..;?:...,!l60,075.0Q. --'(~27'-'.9""3"'3."'00")1 ~, 2.26~~ "~_ 2,269,2 4...:QQ., 717,217.~Z_ 2,206, , z~ _~,,_ 1,531..-t~ _n_ 1,531,1.1~,-----,.",_ 495,969,... 1,591,577.g0 /60 459,00-3.9% _""' m 4,07!~ _,,_ 4,0~~,,_"' 1,158,4~9.2.._.4,253, """ 998,928,00, ~~_,, 215,05.&Q.. 953, I ~_ 9,702,~ "_ 9,70?,~ "' 2,611,1!2.1A!.,,9,865, _--'.1!1,963.00)~ 45, % _~?.!927.oo -1.7~ EMPLOYEE BENEFITS STRS PERS OASDl/Medicare/Alternatlve Health and Welfare Benefits Unemploymenllnsurance Workers' Compensation OPEB, Allocated OPES, Active Employees PERS Reduction Other Employee Benefits TOTAL, EMPLOYEE BENEFITS BOOKS AND SUPPLIES ,J86, f ,186,79, 710, ,148, _on 37,82 ~ ~~ ~?47,057.00nr L 47, _ 456, ,586,~ m(39, % 3301~3302 1,280, ,280,697.00" 312~ 1281,~~ ~~_J Q J!Q., m,".~ 3401~3402 7,340, ,340, "m_ 2,305-,~ _ 7,292, ,91~QQ.. ""~ ?74,25 ]74,25 "" 122, _ 535,76~:illL.~38, % , _m 6,38, ~.'m~~~ _m 635,55..4~.~131:Q!L 9.:~ ::::::: 1 ~'30':::=-',,30:7::. '71,'':::--.:3.86:[: ~16,89:~~_::: m "'_,.. ~.~,"'.QR!l\-- 0.0% '_2~~.. _ ~,~ --""--~~-:!?.l----,.. 199,599.Q~..JI!i:,653.ooll -62~~,, 16,02.1,~. _ 16,021,,?2I:QQ. 4,287,1? ~l----m15,494, I -~}~ Approved Textbooks and Core Curricula Malerials Books and Other Reference Materials Materials and Supplies Noncapilallzed Equipment Food TOTAL, B09KS AND SUPPLIES _, SERVICES AND OTHER OPERATING EXPENDITURES Subagreements for Services Travel and Conferences Dues and Memberships Insurance Operations and Housekeeping Services Rentals, Leases, Repairs, and Noncapltahzed Improvements Transfers of Direct Costs Transfers of Direct Costs - Interfund Professional/Consulting services and Operating Expenditures Communications TOTAL, SERVICES AND OTHER t3lper?'.tlngb<pentlitur."~-:-~::--= _ ,144.00,,_.. e386""",1",44".00""..,~5,669.00" 245,669.00_ 4,036, ,,~36,503.0~ _ 12.~ 109_, ,221, (835,46r.QQ.j-_--=?~ 289, ",<43,598---:.QQ.1-":.!~ ~Q.80,122.00", 3,080,122, , ,995, i?--,915,322,-~\-- ~~ 324, E4, ""' 23~~ m _m J96,101_"'QQ,I-_-~~ ~.,,_~ " m. JI:QQ. ~ 0.0% " m 992,.?~ "Z,926,991~_ {9;,~0,488. rl---~ I ::::.. 501~'~:'.. ;,.;;:~_ ;~~6::~:=- ;~~;5~:I':-Z4~~7::)I== , , _44, ~t~ (~:u!q,. _-----=1:QTh ,...457,26 tqq.1-457, =:;:; ~ (26,78 _, -5.9~_ 5500 _ 2,292, j-,_ 2;292,463.:~l-,,543,lli1...\ 2,318, ~~ -l~ 5600 m_1pa,15200j _mlll_~ ~1 ~_ 175,40500 m ~~,747:flQ.r-m_~ 5710 _ (7,906 OS. (7,90600) 11,.59,. _..JY47 00)! (3.15~!JQ,...~ ( )j _ ( )1 (l,!1q'5 J,5Jl96 O)i ---'- 1,QQ = 5800 r,.657,332~~.,.657,33200.j m 725,26327 j 2,03~..o01 00 I (377, % 5900 r ~ _,73, _ 20",46600I. 14, % -m=--.~~~: --=:-:-::---J-- 5,380,8.Q :80300'1.-: "'712~147.-d , ::- (';7.,g;-;;{;;~~:;;:~~ ~Iifomia Dept of Education :lacs Financial Reoortino Software _ n

139 (15, Fremont Union High santa Clara County First Interim GEmeral Fund Unrestricted (Resources ) Revenues, Expen:iitures, and ChangeS infund Balarice Fonn 011 Descriotion Resource Codes Object Codes Original Budget IAI Board Approved Operating Budget 113\ Actuals To Date le\ Projected Year Totals fol Difference (Col B& D) fei I %Diff (':.) CAPITAL OUTLAY Land Land Improvements Buildings and Improvements of Buildings Books and Media for New School Libraries or Major Expansion of School Libraries Equipment Equipment Replacement TOTAL, CAPITA~L"O"U"T,"LA"y,-- OTHER OUTGO (excluding Transfers ofindirect Costs) _ _.- 65,00 65,00 -- o 20,00 45, % % 6200 O.0.Q_ -_ % f ,.., 2: 00 f--...~ 6400 f j!:qq.. 0.0% 6500 n f--,._ % ,00. 65,00 (15, ,00 45, % Tuition Tuition for Instruction Under rnterdistrict Attendance Agreements State Special Schools Tuition, Excess Costs, and/or Deficit Payments Payments to Districts or Charter Schools Payments to County Offices Payments to JPAs Transfers of Pass-TiYough Revenues To Districts or Charter Schools 0,0% To County Offices To JPAs SpeCial Education SELPA Transfers ofapportionments To Districts or Charter Schools 6500 To County Offices 6500 ToJPAs 6500 ROC/P Transfers of Apportionments To Districts or Charter Schools To County Offices To JPAs Other Transfers ofapportionments All Other Transfers All Other Transfers Out to All Others Debt Service Debt Service - Interest Other Debt Service - Principal TOTAL, OTHER OUTGO (excluding Tr~nsfers oflndirecl Cost~l. OTHER OUTGO - TRANSFERS OF INDIRECT COSTS All Other "0,00. 0"'.0"'0+- _, ~~,, ~ ~". =,,+ ----'0"'.o"0+-, "''''+ -''O''.oo''f --"O"'.O"O+.,, ~ ""''+ ---'0''''.OQ. ~0'''.009 Jlm' ""'''-j- '''O'''.O."O ----'0,,.00"'+_--"-0,0"'%"1.-.Q,Q!)- ""'''-j "5~,44=0"'.0"'0t-.J15,44 New =b ::I I -,---.--~ - "'::"'::'+_~:~ ::~.:"'I_o_ i i. I I.1 i i f-~=== 000. ~ ~o I~= 0 00 O'QQJ:--~ 72:::: =---~:t_=--: =:- ::: - -_-_- "':"':~-t _.o ::~~ C ṉ ---= 7438 l------,,-~ _,QQQ J!:Q~ 7439 ~,_..Q,QQ.. f ~ MQ.....QJ!Q.. 2.oot ,.41!!.Q!L (15,44Q:QQl New I Transfers of Indirect Costs 7310 J 45, _.lli,~~ O.OQ,.,, Transfers of Indirect Costs ~ rnterfund 7350 ~_ (185, _~Jl85, _f1,031, JOTAL, OTHE!3 OUTGO ~ TRANSFERS OF INDIRECT COST~ +..,(1,031, _, JI TOTAL, EX~ENDITURES 73,159, ,159, ~_1~,243, (813, !32,397Al,, ~~ (188, ", 2,633.QO~ ~ {1,001, (29,764.4) _. ~_~

140 Fremont Union High Santa Clara County OescriDtion Resource COdes 2012c13 First Interim General Fund Unrestricted (Resources OOOO~1999) Revenues, Expenditures, and Changes in Fund Balance Object COdes Board Approved I Original Budget Operating BudgetI Actual~_To Date IAI lsi lel Projected Year T~~;S Form 011, % Diff (ElB) ~ IF>' INTERFUND TRANSFERS INTERFUND TRANSFERS IN From: Special Reserve Fund From: Bond Interest and Redemption Fund Other Authorized Interfund Transfers In.iillOTAl, INTERFUNDJRANSFERS IN INTERFUND TRANSFERS OUT I _.~.-~ 1---._--9~9.Q.f o.o~. ~ ~ _.._~ -...,.-----~,~-,,-"---~-.~... O~OO 1 3,016.J~" 3,016.J~ ".~ 672,931.QQ.. (2,343, _ 3,0162~...~ 3,01.,~ '-... ~ 672,931.Q"0+-_-,,, "2.,,343,854.~2 0.0% -77T"& -77.7% To: Child Development Fund To: Special Reserve Fund To: Slate School Building Fundi County School Facilities Fund To: Deferred Maintenance Fund To: Cafeteria Fund Other Aulhorized Interfund Transfers Out _(b) TOTAL, INTERFUND TRANSFERS OUT OTHER SOURCES/USES f f- ~----~f--- ~~--.~f ~f-"'- " 0.0% ---~f ~r_-.-- ~,,~_~k 7613 _"'._~ ~. ~~~ ~",0.",00+_~_".~_.. _~ 7615 f _~._~ _~"', -"o",~o",o+-_ 0.0% 7616 ]06, "06""".BOO",,,.0<c0 "''''. ~ 714,61"0.,,00,,+_..,,,. (7,7 ~ ~.~ 7619 r---.j5, _ 75, ~ 75, JlJm. ""."._~ ~ ".' "'.. 782, ,83 "'''' ~7~90".,~5",51,,~,"00,+_,, (7, % SOURCES Slate Apportionments Emergency Apportionments Proceeds 8931 f-----, -- O.~f Cl,qQ_ -- -!L -ioo-- Proceeds from Sale/Lease Purchase of landlbuitdings _~~_. oool.. Olher Sources Transfers from Funds of lapsed/reorganized LEAs _.~-'" I Long-Term Debt Proceeds Proceeds from Certificates of Participation Proceeds from Capital leases Proceeds from lease Revenue Bonds All Other Financing Sources ~!Al, SOURGE_S USES "o"'.o""o+- ~~~..QRQ.._", r---'-.. 0.QQ _ -=-_ ::t--_--=~~~ - T QRQ. _ -_-~. _,, ~ O.OO ~. 0.0% ill!q_i ~qq. --- ~.~.. ~.~ _"" -. ~,o"'.o"'ocl "o-"~o""%1 :::I ~~--'~_":~::,,,0+~~ 0"'0"'::9 Transfers of Funds from lapsed/reorganized leas All Other Financing Uses ld) lotbl, USES _ ' ~ CONTRIBUTIONS Contributions from Unrestricted Revenues Contributions from Restricted Revenues Transfers of Restricted Balances ~tlotal, CONTRIBU!'ON...._ TOTAL, OTHER FINANCING SOURCES/USES (a-b+c~d+e) ~_ ~ _--",!JIl ~ _--llilil+ _ ~ --"-QO _~ ~O -...Q.QQ--- -~ -(~5.~,?ll1QIl, , J~~5'84~~ ~ ~illc8~3~7 :L i (13,609, (13, ~. ----J!:QQ ~ -=~:f _Q&Q Q:QQ. ----~ ~~ Q:QQ.,--~ =:t ~ 000 1J1MI J~.~_. "(5.32.'41~:t. :F~1-6;;~~;~ 0 I... ~~.~...'..~ o!;r-~ -~~.41::t~ o~oo I ""'93.813~OJ % California Dept of Education SACS Financial Reoortina Software _2_0

141 5,193,808.0~ " 8,556, , , ,922, Fremont Union High Santa Clara County First Interim General Fund Restricted (Resources 2000-:9999) Revenue, Expenditures, and Changes in Fund Balance Form 011 Boarel Approved Projected Year Difference %Diff Object Original Budget Operating Budget Actuais To Date Totals (Col 8 & O) l~) DescriDtion Resource Codes Codes IAI lsi lei 101 lei A. REVENUES =1 1) Revenue Limit Sources f-~ 2,842, ~ -..-' "._- 80, ~ 2) Federal Revenue ,876, ,876,843.QQ..J 49, ,843, _ (33, % 3) Other State Revenue a599 2,245,68 2,245,68 604, ,382, , % 4) Other Local Revenue ,752, ,752, , ,691, M?An <C' ~~.,10 ", 5) TOTAL REVENUES 11,717, ,717, ,408, ,841, S. EXPENDITURES 1) Certificated Salaries J!, 56,843.oo ~ 2,056, _,-,-- 8,450, ~ 106, % 2) Classified Salaries ,367, ,367,559.0~ 1,400, _..- 5,536, _.._j169, ~ 3) Employee BEmefits ~ 5,193, ~~ 1,396, ,074,07 119, ~ 4) Books and Supplies ,352, ,352,554.~5 308, ,448, (2,095, % 5) Services and OthefOperating Expenditures ,408, ,408, ,943, ,077, (669, % 6) Capital Outlay ~_..-' ~ 7) Other Outgo (excluding Transfers of Indirect 71oo~7299 Costs) , ) Other Outgo - Transfers of Indirect Costs , ~ , (247~ New,.18, ~~~.-JA~ 813, % 9) TOTAL, EXPENDITURES 27, , ,105, C. EXCESS (DEFICIENCY) OF REVENUES, OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES las - 89) (16,029,427,11 (16, {5,696, (18,825, D. OTHER FINANCING SOURCES/USES 1) lnterfund Transfers a) Transfers In ,00 350,00 ~.. g.oo 350,00..=t--~ b) Transfers Out 7600~ ~ 0..:.QQ _..~;+=~ 2) Other SourceslUses a) Sources f ~..--'--- _..._u. ~.:. ~:"-~~: b) Uses ~ -_. - 3) Contributions L~. 1?M;V81,OOi..!?,J,t'b1,"@'1,@ ~. C-.-..""-"_... O:PQ ~ 1.,3Z~,J~-:3 ~ t ~,,32,41200 L :3:,1%j.~~ 193,781.~~r~ 4) TOTAL, OTHER FINANCING SOURCES/USES 16,193, ,726, _ ~l ~~ i, _..- California Dept of Education ~At:'<:. I;;... n~;..l c...,~ c:>...

142 Fremont Union High Santa Clara County First Interim Genera] Fund Restricted (Resources ) Revenue, ExpenditUres, and Changes iii Fund Balance Fbrm011 Desen tion Resource Codes Object Codes Board Approved Original Budget Operating Budget Actuals To Date B C Projected Year Totals D Difference (CoIB& D) E. NET INCREASE (DECREASE) IN FUND BALANCE C + D4 164, , ,099, F. FUND BALANCE, RESERVES 1)Beginning Fund Balance a) As ofjuly 1 -Unaudited b) Audit AdjliStments c) As ofjuly 1 -Audited (F1a + F1b) d) Other Restatements ,898,327.7~ 4,898, " ,898, ,898, e) Adjusted Beginning Balance (F1c + f1d) 2) Ending Balance, June 30 (E + F1e) _..4,898, _ 4,898,32~J4 Components of Ending Fund Balance a) Nonspendable Revolving Cash Stores Prepaid Expenditures All Others b) Restricted c) Committed Stabilization Arrangements Other Commitments d) Assigned Other Assignments e) UnassignedJUnappropriated Reserve for Economic Uncertainties Unassi nedjuna ro riated Amount ""~~ O"'.O"O,+-. ~._,, "'"~O MQ. _~o"".o~o+-. ~:I 000. _ I Q,QQ..! 9J1~L!, ~a1ifornia Dept of Education lacs Financial Reporting Software ~

143 Fremont Union High Santa Clara County First Interim General FUM Restricted (Resources ) Revenue, Expenditures, and Changes in Fund Balance Fonn 011 Oescri tion REVENUE LIMIT SOURCES Resource Codes Object Codes Projected Year TotaJs.JlJL Difference (Col B & 0).J~L_ I % Diff t{~1 I Principal Apportionment State Aid - Current Year 8011 Charter Schools General Purpose Entitlement - State Aid 8015 State Aid - Prior Years 8019 Tax ReliefSubventions Homeowners' Exemptions 8021 Timber Yield Tax 8022 Other Subventions/In-Lieu Taxes 8029 County & District Taxes Secured Roll Taxes 8041 Unsecured Roll Taxes 8042 Prior Years' Taxes 8043 Supplemental Taxes 8044 Education Revenue Augmentation Fund (ERAF) 8045 Community Redevelopment Funds (SB 617/699/1992) 8047 Penalties and Interest from Delinquent Taxes 8048 Miscellaneous Funds (EC 41604) Royalties and Bonuses 8081 Other In-Lieu Taxes 8082 less: Non-Revenue Limit (50%) Adjustment 8089 Subtotal, Revenue Umit Sources Revenue limit Transfers Unrestricted Revenue Umit Transfers - Current Year Continuation Education ADA Transfer Community Day Schools Transfer Special Education ADA Transfer All Other Revenue Umit Transfers - Current Year PERS Reduction Transfer Transfers to Charter Schools in Lieu of Property Taxes Property Taxes Transfers Revenue Umit Transfers - Prior Years TOTAL, REVENUE L1MIT.~y"R"C"ES,,-- FEDERAL REVENUE All Other f--.co"'.o"'0'.j- 58, ,999, , ,999, '0"'00"'.j.. 0.0%...!!,508.00t -'0".0"0't- -'0,,.0""j% 1,999,932.00t- SLO"'O+ O"'... O%"'!' _.!100 J , ~, I O~OO r~~~~ ~ ",,,gl _0.11(,-["1~~~~".O.OO""~r~~~~,O.,O.O"+.~~~, ~ , _--'0"'.00"+-._.._--"0.,,,00,,+. _...._ 0.0% _ ~,842, _._. ~842, " 2,922,871."'00"+... Q, % _.. _784, _864,431."'00"+ ~... 3.~~b. 1~~3~ Maintenance and Operations ",.",00+.,..Q;Q.Q.. ~ O.QO 0.0% Special Education Entitlement Special EducatiQn Discretionary Grants ,738,6[ 1,738,67 f--_...c'40".7c,.9",5",,8.00 _ 407, _.Q:QQ ,33 270, ,66 137,37 4.4% -33.7% Child Nutrition Programs Forest Reserve Funds Flood Control Funds Wildlife Reserve Funds

144 1 Fremont Union High Santa Clara County First Interim General Fund Restricted (ReSources 2000.,9999) Revenue~ Expenditures, and Changes in Fund Balance Form 011 Description NClB/lASA NCLS: TIlle I, Part A, Basic Grants Low~lnCome and Neglected NClB; Tille I, Part D, local Delinquent Program NCLB: Title II, Part A, TeacherQuality NClB: Title 1IJ, Immigration Education Program NClB: Tille lji, Limited English Proficient (lep: Student Program NClB: Title V, Part B, Public Charter SchOols Grant PrOgram (PCSGP) Vocational and Applied Technology Education Safe and Drug Free SchoOls Other Federal Revenue. TOTAL, FEDERAL REVENUE OTHER STATE REVENUE Resource Codes 300Q:.3009, , , , ,4202, , All Other Object Codes Originii~Udgel 1 Board Approved I \1 operati~:) BudgetI AClual~c~o Date Projected Year Totals (01 _ 7,50. %Diff (ElB) 'F',("4,"'62,,3,,.0,,0'4)i'----'-"'38"'.!.1o/<c,! I. ~O~.OO~ L_----"o"'.o"-o1----"0.,,,0%"'1,,,.._.,!U!Q.t ~f -""~ Q:QQ.,_~ , ~~f-_ QJlj\ ~ ~, ",,~ Qll'lc- 000 ~~O1' 110, , 110,37~:!!Q..f ,37~_:QQ.. ~ _".,_~..._ ~ ,,~,~,,~ f--. _. --~~ 1-'.1,330;00 " mQQ. 144.,~ _~ ~~ --~--,,-----~ ---_..._,~ --",--~. " --~ ~----B~ ---~~~ 37, ;00 --~ -~.,~- 2,87E?,~ 49, ~..2,~ (33, ~ Other State Apportionments Community Day School Additional Funding Current Year Prior Years ROCIP Entitlement CurrentYear Prior Years Special Education Master Plan Current Year Prior Years Home-to-5chool Transportation Economic Impact Aid Spec. Ed. Transportation All Other State Apportionments - Current Year All Other State Apportionments - Prior Years Year Round School Incentive Crass Size Reduction, K-3 Child Nutrition Programs Mandated Costs Reimbursements Lottery - Unrestricted and Instructional Materi. Tax Relief Subventions Restricted levies - Other ro6() All Other. All other 8311 c--- 37,60~QQ.. 37, , , ~-- ~ ' Q,QQ. -- -,--_.Q:QQ _Qc.QQ ,~_~_,,. Q:QQ...~ Q::Q!L "Q,Q!L._---,,,Q:QQ.. ~,,---~--_.---Q:QQ ~ Q:QQ. - ~Jl JOO.,Q,ll'l\ _~ ~O00 _,,~ 000 ~ ----_ t-"'--,,~ --~-,._Q,QQ. -.,," ~ ~ ~ " O.oo,._~ ---~. ~. 0,00.._ 0.0% ",,_ ----'--Q:QQ ~...Q,QQ.-f Q.J!Q., _,,_~ J: _.489, _._ "QJ!Q..f ,628.00,,(67,00_~.370,30. ~70,30."Q.J!Q.f----,350, _~, % _~ ---, ~ ~ Q:QQ.,- ~,. 0.0% ~O.OO" ~ ---Q~r ---- ~ O.OO_~~ ,00 O~O~,,_,_~ -.,.Q,QQ _,,~_~ -~_- ~---Q:9,%._,~.~Jl.Q. ---~-~.,,~~,."--'-~ i -~- --_J1QQ. _1L~'?~..9J?Q. JLQQ.. 207,12~:~4, ~~M~ _ " 207, O.O~ ~...1,Z~ Homeowners' Exemptions Other SubventionS/I "","Lieu Taxes PaSS-Through Revenues from State Sources School Based Coordination Program After School Education and Safety (ASES) Charter School Facility Grant DruglAlcoholfTobacco Funds Healthy Start _~~~_~~B~uC!!?~~i,!!!L~~,.~,~,_,.,~,_,~ School Community Violence. Prevention Grant I,.,fiZQQ.,.. 8,5.9Q.,' California Dept of Education SACS Financial Reoortino Softw;;Jfe -?fj1?? n

145 FremontUnion High Santa Clara County First Interim General Fund Restricted (Resources ) Revenue, Expendilures, and Changes in Fund Balance Forin 011 Descrintion Quality Education Investment Act All Other State Revenue!Q.l.:AL, OTHER STATE REVENUE OTHER LOCAL REVENUE Resource Codes I Board Approved Projected Year Difference %Diff Object Codes Origin~l~udget operati~:\budget Actual~c~oDate T~::'1s (COI,~\& D) ('%'!) Q.OO -~ All Other , ,074, , ,023, ( % 2,245,68 2,245,68 604, ,382, ,955~00 6.1% I Ottli:!r Local Revenue County and District Taxes Other Restricted Levies Secured Roll ,.,..._~ Unsecured Roll _._~f % Prior Years' Taxes Supplemental Taxes 8617 I---~ !l % - 0.0% Non-Ad Valorem Taxes Parcel Taxes "0.-"00"+ 9.:Q,Q _.._-----.MQ. Other _--~-._'O!!.O"O'+_----~O.RQ....._,,0.0% Community Redevelopment Funds Not Subject to RL Deduction "'O.-"O,O' J!..@ '0"'.0,,0't-~ 0,0%..._~ Penalties and Interest from Delinquent Non-Revenue Limit Taxes Sales Sale of Equipment/Supplies Sale of Publications Food SerVice Sales All Other Sales Leases and Rentals Interest Net Increase (Decrease) in the Fair Value of Investments Fees and Contracts Adult Education Fees Non-Resident Students Transportation Fees From Individuals Transportation SerVices Interagency Services Mitigation/Developer Fees All Other Fees and Contracts Other Local Revenue Plus: Mise Funds Non-Revenue Limit (50%) Pass-Through Revenues From Local Sources All Other Local Revenue Tuition All Other Transfers In Transfers OfApportionments Special Education SELPA TransferS From Districts or Charter Schools 7230,7240 All Other 8629 e n ~~_"O.,,00"-l-._._.. "O.=oo Q,QQ , _-,1"8.,<>89"..".5,,,54-_~.~"!. -, , ~ ~.~ 0:00J. -'O"'.O"O'.j _'0"'.00""-1 -"0.""-00. ~ f- ',,0"',90"'5e".!77~1 10,905.77,... 2, ,1'~0.~9",06,,!,0,,0,+_---O % f----_"o~ 000.~ 000I ~ -~ "'0."'00' _._~.Q,9.Q. -.~ f----- JLCll! _0"'."'004-. _~ Q"I?Q Q.OO,1:1:.0%, 1. 1" QJ~!.j 9Ji9+.9,.QQ,i {J}J!J i I 99J!lQ. QQ ~,9.Q QcQQ.'... ~.~~t... i ----~~--:"'."':'+-- -':"::"': ':"::"' ':":~"'o+---- _=r= --_... _,9",78",9"6",8,,,.0,,-0+-_ ~9",78".9"6",8",.0"-0+-,,-0,,,,,.00 1,155,506.00,~e53"8".0,,0'+_--.l18,,."-0,,' 0",.",004- ~ ~ _~.~. 0";."'00' "'.0"'0'+-----" 0.0%, _+-_._J ~._..~~_'O!!J)"O 'i_~...._~_'o!!.oo"''+_--~~.--''f1~ _.QJ!Q. ~_~_..QJ!Q.....,.._.._0"'."'004. _ 0.0% 416,247.39,,~16, , , , ~.1% ~... J1QQ. J!:QQ.... Q,QTh ~ " ""..,.~ From County Offices

146 Fremont Union High Santa Clara County First Interim General Fund Restricled (Resources ) Revenue, Expenditures, and Changes in Fund Balance Form 011 Description Resource Codes! Board Approved Projected Year Difference %Oiff Object I origin~l~udget Operati~\ Budget ACtual~C~O Date T~~'S (COI,~\& 0) (?F~) COdes From JPAs All Other 8793 f 000. J'J'Q. 1--'.._---.'J!:illt. -,~~ All OIher Transfers lnfrom AJf Others 8W9 O:~_.- i ----,~.."-~.._--_. 3,752, ,752, , (60,240.55).,~::::::::r _ ---~ 11, ,717, ,19..8,689.79_ 123,851,45 1.1% ~.9THERLOgALREVENUE -'_._-.._-~ ~~,REVEN~_ ::alifomia Dept of Education iacs Financial Reportina Software

147 Fnamcint Union High Santa Clara County 2012~13 First Interim General Fund Restricted (ReSoUrceS 2000~9999) Revenue, ExpenditUres, and Changes in Fund Balance Form 011 Descriotion Resource Codes Object Codes Board Approved Origi~~~Udget Operatir:lBudget Actual~c~oDate Projected Year T~~~IS Difference (COII~&D) CERTIFICATED SALARIES CertificatE!d Teachers' Salaries Certificated Pupil Support Salaries Certificated SupeiviSors' and Administrators' Salaries other Certificated Salaries TOTAL, CERTIFICATED SALARIES CLASSIFIED SAlARIES 1100 I 6,932, ,932, ,620, , ~5' ~ -,7"2",6.",3c<'28""",00,+ -,7"2",6,,,,3c<'28,,.0,,0,+- ~_~_,,,8,,,2,,,.9".'9,,,.,,82"-f- --,9,,8,,,,-5,,~1 ',QQ., ~.~,1,=25",9",.5",8".7".0"'0'l---".3".5",]-,-%" L "--'3-..25".2<o48"',,, "+ '325,248.,, '+ -'9,,6"'.090=."'56'-f-."'30"'0"-'7"'5"'2."00"-l, ~,2,,4,,,496""".00"''! --'-7'''.5!'.% , ~151.-?, , ~5.1?, ,188;00 " 8.556,,,84,,,3,".00""-f-_.=2,,,,0,,,56,,,.,,91'.'1,,,.7,,6,-\~ _~_.3i,450, , % Classified Instructional Salaries Classified Support Salaries Classified Supeivisors' and Administrators' Salaries Clerical, Technical and Office Salaries Other Classified Salaries TOTAL, CLASSIFIED SALARIES EMPLOYEE BENEFITS f-_.-;3~.1~4"6,,,15,,,0,".0,,,0,+- -,,3~.1~46,,.,,15,,,0'.'.0,,,0+ ".632, ,705, , % f-_---'-7"'67"'.,,69"'7"'.0,,0'+- -'-7"'67"',"'69"'7C'.00""+ _~.,,_"._..=23",0,,-,'"09~.84"'-f --"'80"'7"'.90'=3,,.0,,0+,~~.. ~.-=2"'06'",0,,0"f-_.-.5"',=-2%"'I f----_~~..,7c1"7c'.0"'0'+- -'4"'95,,,'-71,,7C'.0,,0'-l.."',,~_ -"... 4"5.,,555""',20'"'-f-_--"4"'63"'.-'-",,7,,.0"'~0.. _~_"" _,3",2""6",00".0"0,+- 6,,,.,,6 "'1' f ~~7,.. c~2.,,70~7"'.0"'0't- 7'-'4~2.,,7,0~7"'.0"'-0 _~_~ ~22~3~.68=,~.'~2+-_--,,8~'5,".731.oo ( ~..? oo 215,288.Q.!L " -"68""-.2.,.2"'6" ~744"'''06~})JL J528,n9.OO ~.j_ , , , S7.",,~.7= {j % -3~2'10 STRS PERS OASDl/MedicarelAlternative Health and Welfare Benefits Unemployment Insurance Workers' Compensation OPE8. Allocated --"S..,55"...,34"'3"',00""-f- --'2"'5.7J15.00 ~ f-_--"68,,'-"."'058=.0,,0'+-..68""-"."'05"'8"',0,,0't- -'-'5"'5~,7c,8,,2c 1,,,, ,014, , ,023, ~ % ,445.oq+- "'56,,2...44=5~,0,,0t- '~3~9<.2...~ 557, , % , ,329, (92, % ,40 223,40 36, , ,345.oo_~ ,015~00 187, _~~ , ,58 ~ 3701~ ,416~00=t--_~2~8"a.~4~16~,0"OT.._."~ 138, , % OPEB, Active Employees PERS Reduction Other Employee Benefits TOTAL, EMPLOYEE BENEFITS BOOKS AND SUPPLIES ~3752 f--~--j?j!q.._- ~O'.',oo""'r ,"'o."oo'+~~o~.o~%"i _,O'.'.O"O,! --"O""0-"'l% ; ,057.00,1JL~ 23, (15, % 5,193, , _1,39., ,07 11Ql % Approved Textbooks and Core Curricula Materials Books and Other Reference Materials Materials and Supplies Noncapitalized EqUipment Food TOTAL, BOOKS AND SUPPLIES SERVICES AND OTHER OPERATING EXPENDITURES , '-'9"'2"',9"'0'+- -",,0,1,.,,37'-''''.09. _~~_ 12, ~...173, , , LQ.OO (717, %.1,p15, _1Q15, , ,55 ~j1, ~.48, ~ "6.",5"03",,,67,+ ~1,,68,,.,,,40,,,1.p..Q. ~ ( %....~. ----"'0,"'00'-\ QJ!Q.. _. --'0".0,,0'+-.. Q~ --"0"'.00"-1 0.0% _2.,352, ~. g,554",~.._. 308, l,_i4...~~~QQ (2,095, ~...Jlli Subagreements for Services Travel and Conferences Dues and Memberships Insurance Operations and Housekeeping Services Rentals, Leases, Repairs, and Noncapitalized Improvements Transfers of Direct Costs Transfers of Direct Costs -Interfund ProfessionallConsulting Seivices and Operating Expenditures ,256, ~1,~25"'6'",44=2~.0,,0+_.. _ 5200 ~ 132,92]..:QQ.. 132, ~ 000 f q,q!~ ~ ~QQ I 13,70. 13,70 :: r-- 32~::~: -_~ _2..,? ,486, ~,~~---=-1~..1"'6.-"86"+ -"5"'8'.'.5"'7-'7~.0,,0t (25&~1_~ Q:9,Q _ 1-- _, 0.0% f % 1,9,6~QQ... 15, D.,963.00) ~ 63,0?.f..1~_ 320, , % _..,I.3, % J!:!m._. ~} J!.O% +4,653,299.00J,4, ,784, ,066, ( !2) _._. _.: :g~ 5750 f- =-t-- _7.90:~~ "~~~:u:::;ES~OTHE L.._..~_..,,,_~ _~ ~ ~ -=~18~:QQ.t..._:~:Q,= ~~0.6_8~.~9 ~~~.~,,:"_~4:~::: ~.., (6,~~~:~_.. ~~~~.~ OPERATING EXPENDITURES.. ~ 6, QQ] 6,408, ,943,0~,.9~ 7077, , ~

148 Fremont Union High Santa Clara County First Interim General Fund Restricted (Resaurees ) Revenue, Expenditures, am Changes in Fund Balance Forin011 DescriDiion Resource Codes Object Codes Original Budget IA) Board Approved Operating Budget II') Actuals To Date IC) Projected Year I Difference Totals i (Col.~.& OJ IDI 'E' %Diff (%'I) CAPITAL OUTLAY Land Land Improvements Buildings and Improvements ofbu~dings Books andmedia for New School Libraries or Major Expansion ofschool Libraries Equipment Equipment Replacement ~9APITAL OUTLAY ",,,, OTHER OUTGO (excluding Transfers of Indirect Costs) '"o."o0"t---,~ flqq- ",,.!!:QQ.. f_-- ---"0"'.0,,0+-., "~~ ~ _ 241,503.00, MQ" -----,,---~,, O.OO~ 247, " 0.0% ( New......<J,lJ<l. ~ (247,593~00 _~~ Tuition Tuitionfor InstrUction Under lnterdislricl Attelldance Agreements State Special Schools Tuition, Excess Costs, and/or Deficit Payments Payments to Districts or Charter Schools Payments to County Offices Payments to JPAs ~...Q,QQ,,_~.Qm.I--_. "'9-"_--._. -...Q,llQ,j. -.~...Q,ll<l,.~ ~-..,.,,------,.Q,QQ. --~~ !l:qq't----" 0.0% ~ !QQ. ~ "_~ _ J!:QQ...QJ!Q %,21,335.0.!L.._~.~_1,335.00,, "_~ " 18,386.00,2, %, :QQ., ~..Q~..._ O.OO_ Q~~ Transfers of Pass~ThroughRevenues To Districts or Charter Schools To County Offices To JPAs Special Education SELPA TranSfers ofapportionments To Districts or Charter Schools 6500 To County Offices 6500 To JPAs 6500 ROCIP Transfers ofapportionments To Districts or Charter Schools 6360 To County Offices 6360 To JPAs 6360 Other Transfers ofapportionments All Other All other Transfers All Other Transfers Out to All Others ~ ~,_ I- ~ 0'00l...-- o.ool,,~ _, ~.~_ j-- Q~ O.go ~_,, ~, !!:QQ. --~-"'-- "" Q:.QQ.._._~...QJlQ... - q,qq._.~ --~-- --qj!q q~ 0.0% 0.0% ~,,,,,.Q:QQ.. -,, Q,Q~ on ""_~. ~"_ O.O'*:. '",, ~,~ ~Q.. _-----.MQ QJ!Q.." ---~..M!Q...9J!Q..~-- _~Q,.'!.QQ ,>\ -_J!:QQ. " QJ!Q ~ ~.QJ!Q..,, O.O~ "--~f_'" ----2,Q!L, ~, _~ Q,QQ", ~ ~,Q,Q,Q. 0.0% Debt5ervice Debt Service ~ Interest 7438 Other Debt Service ~ Principal 7439 ~ TOTAL,,_9THER OUTGO (excluding Transfers of Indirect COstsJ. - _11,3-= ,335 QQt- OTHER OUTGO - TRANSFERS OF INDIRECT COSTS I f-- 0",.0",0,+- ~ n.."_~ _ r Q,~ ~,_ -----~- ---~,...Jl"QQ. ~ Q:QQ.f-----~ , _~ T",nsle", ollnd;reel Costs 7310 I. ~ ' ~ _._ Q.OO ? ,,-..~?"~97 l!1.,,~ Transfers of Indirect Costs -Interfund 7350 ~ ~~r-- --~ --~ -----" ~'--' Q:00 ---,,~ I-,NAL. OTHER OUTGO TRANSFERS OFINOIRECIfOSTSt , , ,397.11_:;&'Y,!OTAL, EXPENDITURES _----"--- ""..27,746,61~.66 _.. _,~7,746,619:~6J ~,J.Q5, J, 3O J2!919,882.75)1 ".-10.5~ ~afifomia Dept of Education )ACS Financial Reoortinci Software ~ 2n1?_?n

149 .- Fremont Union High Santa Clara County First Interim GeneicllFund Restricted (Resourees 2000-:9999) Revenue, Expenditures, and Changes in FlJ'Id Balance Form 011 Description INTERFUND TRANSFERS INTERFUND TRANSFERS IN Resource Codes I Board Approv:ed Projected Year Difference %Diff Object Origin7~~Udget Operati~~lBudget Actua'7c~oDate T~~IS (COI(~)& OJ (fr,~j Codes From: Special Reserve Fund 8912 RQP ROP PPO 00% From: Bond IntereSt and RedemPtion Fui'id 8914 ij&!.qa!p QeOQ Ql!f! Other Authorized Interfund Transfers In 8919, , 350, ,00.- ~-, (a) TOTAL, INTERFUND TRANSFERS IN -~------".~, INTERFUNO TRANSFERS OUT 350,00 0.0% 350,00 350,00 -,,1 9, ~ To: Child Development Fund _.. -,_.~.~..~-,--~..,._. 0.0% To: Special Reserve Fund 7612 _... _--.,._ OJ)%, "..,,~ To: State School Building FundI County School Facilities Fund _.llqji To: Deferred Maintenance Fund ,," JI;.QO 0.0%, To: Cafeteria Fund ~-~~~~ % Other Authortzed lnterfund Transfers Out "-~ (b) TOTAL, INTERFUND TRANSFERS OUT _ OQQ ", OTHER SOURCES/USES SOURCES State Apportionments Emergency Apportionments 8931 (},99L 9c~1 OeQO oqq Proceeds Proceeds from SalelLease- Purchase of Land/BLiildings 8953 O.qo -"... _,-'---~ _.- --,,~ --- -",Q,q~ other Sources Transfers from Funds of LapsedlReorganized LEAs 8965,_... R:illL c q."q~t ~ QJ!Q ---~ r' II --j I I Long~Term Debt Proceeds Proceedsfrom Certificates of Participation _~...Q,OO ~ ~...~ -",Q~ Proceeds from Capital leases 8972.,,, -----~().!! Q,~'! ~- _9.:~ Proceeds from Lease Revenue Bonds _-----.MQ. -, 0.:9~ All Other Financing Sources 8979 O~QQ....Qll g, _"... Q.O%...Jc) TOTAL, SOURCE~,, USES Q.,QQ _ilo.'!.,,-"'-'" ---~--._---= Transfers of Funds from Lapsed/Reorganized LEAs QR!:L QRQ ~ ----~ All Other Financing Uses ,,"- ---~Q,Q!l ~,,_._-- -~, -----~ _=-~~=00~1.(d) TOTAL, USES._ ----,, , ~~0.Q Q.,QQ ~--,----~ CONTRIBUTIONS - -1 Contributions from UlVestricted Revenues ,843, ,843,781.OQ,. '6,376,'93.00j 32, '~ Contributions from Restricted Revenues % I Transfers of Restricted Balances 8997 O;()O 0;00 O~OO O~O% _(e) TOTAL, CO~JR1BUTlONS 'B43'?!l1~ "'-4:J,!"'-T ,376,19~Q 532,412,'OI ~ TOTAL, OTHER FINANCING SQURCESJUSES ta-b+c-d+e) 16,193,781.00I 16,193, I 16,726, (532,412.00,1 3.3%

150 Fremont Union High santa Clara County Description Resource Codes First Interim General Fund Summary,.. Unrestricted/Restricted Revenues, Expenditures, and Changes in Fund Balance Object Codes Projected Year! T~::'1s I Difference (COII~'& D) Form 011 % Diff (';i,~) A. REVENUES 1) Revenue Limll Sources 2).Federal Revenue 3) Other State Revenue 4) otherlocal Revenue 5)TOTAl,REVENUES ,396, ,396,393_00 5,474,34R75 82,359, ,962, % ~?6, ,876, _~ ~_ 49,1971,?,_ ,843, ,249.00,..1.2% , _ 680,887~00_. c_ 680, , ,480, ,365; % lq.i729;9_ ,729, _1,172, ,97Z~.,47, % 94,684,065~55 94,684, ,038, , B. EXPENDITURES 1) Certificated Salaries 2) Classified Salaries 3) Employee Beneflts 4) Books and Supplies 5) Services and Other Operating Expenditures 6) Capilal Outlay 7) Other Outgo (excluding Transfers of Indirect Costs) 8) Other Outgo - Transfers of Indirect Costs 9\ TOTAL, EXPENDITURES ,540,60._ 47,540,60.Q.00 10,7!~ ~Z.330, , ,~ 2000~ ,070, ,070,46J.00 4,011, ,402,582.0Q.. _ ( ~-~ 300Q ,215,205~00 21,215, ,~83, _.20,568, , _~-~ ,389,057,55-5,389, ,300, "" _11,375, f5,~ % ,789, ,789,~14.00 :t655, ,916, (1, _~ i 6000~999 65,00 ~,OOO.OO (15, , (202, % ,335.00,,21, _ _ (12, % _ , _.. _ Q~go ( Of2?0,14% 100,905, ,905, ,348, ,705, C, EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES (AS - 89) D. OTHER FINANCING SOURCESIUSES (6, (6,221, (18,309,385,52 (10045, ) lnteifund Transfers a) Transfers In b) Transfers Out 2) Other SourceslUses a) Sources b) Uses 3) Contributions 4\ TOTAL, OTHER FINANCING SOURCES/USES ,366,785.72~. -- 3,366,78' 1~ 1"00 '_'00t """"'" ~~ 7600~ ,8:~...:.QQ..,_ 782,83,Q OQ. _ , _...J:l...Z,21"",00"lj-. _..:-,,1.,,0-"'1% f--- _'"~~ _~,,~ ~ ~O 00 _~._~O~OO~t-_O~.~O%"'I ,00 ~ 000 ~", OOO (),()()~ 0, % JlQ,_ 9J)j!~. _,,_...~.: \~_._,,~_._ 9:QQ i Q:J:Jg1 2,583,955,72 2,583, ,38..1 California Dept of Education SACS Financial Reoortina Softwi'lre -?fl1?? n

151 ,!,634, Fremont Union High Santa Glara County First Interim General Furid Summary ~.. Unrestricted/Restricted Revenues, Expenditures, and Chariges in Fund Balance Form 011 DescriDtion Board Approved Projected Year Difference % Object Origin~~~Udget operati~gbudget Actual;c~0 Date T~~r (COI(~I& OJ '(Fi' Resource Codes Codes Sl ; E. NET INCREASE (DECREASE) IN FUND BALANCE IC + D41 (3,637, (3637, "" onn 0'.0. (9,813, F. FUND BALANCE, RESERVES 1) Beginning Fund Balance I a) As ofjuly 1 - Unaudited ,549, ,549, b) Audit Adjustments ,._~".~---~ c) As ofjuly 1 -Audited (F1a + F1b) 21,549,748.91,~~1,549, d) Other Restatements 9795 ~-'''- e) Adjusted Beginning Balance (F1c + F1d) 21,549, ,549, ) Ending Balance, June 30 (E + F1e) 17,912, ,.. 17,912, ~ Components of Ending Fund Balance ~7~91! I =~;"542: 21,549, ,736, a) Nonspendable RevolVing CaSh ,00 15,Q.QQ:.QQ..! L-.J ~ Stores 9712 O~OO _....lu'o. Prepaid Expenditures 9713 All Others ,! i--- -'''-- -,-~ ,-~ L _..._--,~,Q,Q!L!--- ~...-~ b) Restricted ,062, " 5,062,681.63, 2,799, ==-- c) Committed r.-.- Stabilization Arrangements 9750 i Other Commitments 9760 :~~ d) Assigned [-, Other Assignments ~.- 7,534,~l&9 I _3 622,~!:1. L Ongoing Fair Share L!L31,J _.. ~----- e) Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 _.'.- 5,200,00 5,300, ,Q.QQ:QQ... UnassianedlUnaDoroDriated Amount 9790 i fo.68.., I 0.0% J'!' oop g.g%

152 Fremont Union High Santa Clara County First Interim Gerieral Fund Summary - UnrestrictedlRestricted Revenues, Expenditures, and Changes ill Fund Balance Form 011 Oeser; tion Resource Codes Object COdes Board Approved Original Budget Operating Budge:1 Actuals To Date A 8 C Projected Year Totals o Difference (Col B& D) E %Diff (E/8) F REVENUE LIMIT SOURCES Principal Apportionment State Aid ~ Current Year Charter Schools General Purpose Entitlement - State Aid State Aid ~ Prior ears Tax ReliefSubventions HomeoWners' Exemptions Timber Yield Tax Other SubventionsJln-lieu Taxes County & District Taxes Secured Roll Taxes Unsecured Roll Taxes PriorYears'Taxes Supplemental Taxes ~~ (199,275,00,._~, ,~742.00)r, ~,.,, ~,.,.552,84 552,84 0_.00,~ O.OO.2.00."O."'O~Ot-- '",_, 145,439.00,, 53, _:p,o% 0.0% -:-~t,.~;~ ;; AOO ~"''' ~QO O_OQ _ 0 00 ~Q% 73,459,~8.., 73,45g,,38 ~7~4~,883=~,00=0".0~0+_1,423,62 _1.9% '" 5,779,32 _., 5,779,320,00 5,503, ,189,0",0,,0.,,00,,+ 40=9~,6"80",,.O,,0+-~ ~7~.1,-,.~. _ " _ 0.0% _, _ 0,00 _. 0.0% Education Revenue Augmentation Fund (ERAF) Community Redevelopment Funds (S8617/699/1992) Penalties and Interest from Delinquent Taxes ~ 000 ~ ~_ 30,93700 In 30,937:r= ,937AlO ~.go 0.0% 0.0% Miscellaneous Funds (EC 41604) Royalties and Bonuses 8081 " _" 0.0% Other In-Lieu Taxes _ " 0.0% Less: Noil-ReVenue Limit (50%) Adjustment 8089,------~Q -- _ Q&9 79,623, _",_ 79,62;3, _, 5,47~, Revenue Limit Transfers Unrestricted Revenue Limit Transfers H Current Year ~_..(2,058,44 ",,_~~8,440.oo Continuation Education ADA Transfer ,.. Community Day Schools Transfer , M " _ Special Education ADA Transfer _ 1,999,9;32.00,,_ 1,99~ _ All Other Revenue Limit Transfers - Current Year All Other 8091 PERS Reduction Transfer 8092 Transfers to Charter Schools in Lieu of Property Taxes 8096 Property Taxes Transters 8097 Revenue Limit Transfers ~ Prior Years 8099 TOTAL, REVEN.UE Ll~!I SOURC~~ FEDERAL REVENUE _ Maintenance and Operations Special Education Entitlement Special Education Discretionary Grants Child Nutrition Programs Forest Reserve Funds Flood Control Funds Wildlife Reserve Funds FEMA {) Interagency Contracts Between LEAs Through'Reve~fronrFederatSolirce:~=~~_ '" ~"-~"-'~'- _:'''g-z8c- CaHfom'1B Dept of Education SACS Financial Repprting Software

153 -...-.Q,QQ.. Fremont Union High Santa Clara County 2012~13First Interim General Furid Summary ~. Unrestricted/RestriCted Revenues, Experiditures, arid Changes in Fund Balance F6riil011 DescriDtion NClB/IASA Resource Codes Object Codes Original Budget lai Board Approved operati~:\budget Projected Year Ti~IS Difference (Col B&O) lei , , , , ,4202, ; , '0;2",1",2"3,,,,00",j., -,7-",50",0""",00'-1, 7'-',50=0>,<,0"0'1---m_._~(4,623.00). '" -38.1% NelB: Title t Part A, Basic Grants low~lncome and Neglected NClS: Title I, Part D, local Delinquent Program NClS: Title II, Part A, Teacher Quality NClS: Title III, Immigration Education Program NClS: Title III, Limited English Proficient (lep: Student Program "O,"'oo,,+-~~.. ~c"o,,,oo,,+-.,... --"0,.,,00"+- "-" -,0""0",0+-_",0,,,0""1% 'O~,00"'t-" "' ~O~'O~O_j-_' --.-~O~,OO"-t-- _, ---"RO..._~ 168, , , , ~_ ' O.QQ.. '-" ~. "-0,"'00"+-.. _----"0"'.00"+- 110, , , f----~-,-~O",O"-O+-_O""O"'%"i' NelS: Title V, Part B,-Public Charter Schools Grant Program (PCSGP) " --'o~'.o,,o+---- _--"0,,,00,+,~O".,O'.,O+---~O"'.O"Ocl-, ~O~,O"'O+_-~O~:OQ_"'I~ Vocational and Applied Technology Education _, -'-"'_'1~,3,,30"'.0"'0't_--'~1'-"~,3,,30"',00""'f_--.- _ "'0,,,00"+- -"4"'4"'.4,.',,4.=00 --'3"'3"',0"'.4",00""-jf_--'2"'9"'.7'!%~ Safe and Drug Free Schools ,,0."'00' '0".0"-0t- -'0"'.0"'0+_----.,0"',0,"'0t------"0",00"-f-----"0,,,0%"i' Other Federal Revenue AU Olher ",2«.>,<,0",6".7",0,,-0+- ~32".",08""'7-",0"'0'+- --'3"'7:",3"'7"'4".00"-+ ~32".",08""7:Q!L ~., -'0>,<.0"'0'+-_-'0".0"'%..,\ ~!-,_FEDERAlREVENUE,,~..._~2,,,8'-'76"',84=3.,,00"+-,2,,,,~76, _~2, ,843, (33, % OTHER STATE REVENUE _ ~ ---'O"'.oo"'t _ 0.0% Other State Apportionments Community Day School Additional Funding Current Year Prior Years ROCIP Entitlement Current Year Prior Years Special Education Master Plan Current Year Prior Years Home-tO-School Transportation Economic Impact Aid Spec. Ed. Transportation All Other State Apportionments - Current Year All Other State Apportionments - Prior Years Year Round SChoOl Incentive Class Size Reduction, K-3 Child Nutrition Programs All Other All Other I -"37'."",60",8",0" 1 "37'."608,,,,,,,,. "' '.,7,3.,..7!,:.0"'0'-1f- _~3"7-",6"'08,,."'OO_...9.0"'O'+-_"'0,"'0%"i ~O~.OO~-r---- _ 0,00 --"0,''''00'.t----~0~.0''-j0 0.0% "'0,"'00'+-_..~.---,o'Co",O+---..,.",--"o,,,,00't_----._ ",o,.uoo,,+- --,0",,00 9,. -"0,-"00"-+-.,.,_"-0,"'00"-+-._~.._ ~O~,O~O+- _ ~_.Q,illL _.._.!L~ ~O,,,oo,+-_.J}..Jl~ ,.. --~._ 'O"",O"'0"1~ _... ~. " "'oo"+ ~, ~ 8319 _~_~ ~ _'O",O"!.O+._ "'0,0"'0'+-_._,,--~ ~ 8311 _,.~...~ Q:Qfl_.. ~O"'.O"'O'.I _~ ~ 8311,~ _~4.~9"',6~9,,5"'.00"'_t----'"48"'9",,~95.00._ ,628.00_. -'" le67,-,.00""'l_~0~.0"'% ~ 370, ,!1.:.QQ. 350,915.00,, (19, % _.._._.JJJ!Q.. o.dq"...q:qq.i- 0.0% J!:QQ.f------o.oQ _ "..Q:QQ. f---~ OO~~t ~ 8434 f----,~~ _Q.O!' -,..QJ!Q.f % Q:QQ.I !1.:.QQ.I- ~ Mandated Costs Reimbursements lottery - Unrestricted and Instructional Materii Tax Relief Subventions Restricted levies - Other Homeowners' Exemptions Other Subventionslln'-Lieu Taxes Pass-Through Revenues from State Sources School Based Coordination Program After School Education and Safety (ASES) Charter School Facility Grant Drug/AlcoholfTobacco Funds Healthy Start School Community Violence Prevenlion Grant _ 8550 Q.:QQ....!!:QQ. L ~1.Q9. 7, New ,654,24~:QQ.. ',654,248,00 I 400,7271-2,134.44'<00_ 480,2Ql.oo, 29,0% !!:QQ. ~ _Jl.:QQ QJ!Q.f QJ!Q.... ~ ~ 8576 ~ ~ Q,Q!L Q,Q!!.f QJ!Q. ~ 8587 ~.. -J!:QQ.f---- ~ Q:Q!L r ~- QJlli t =f---, ~ !!:QQ Q:QQ..L-~_ 0.0% 8590 C' ~ , f % ---~ r=.d.oo.. Q,O% 8590 f q:qq.. _~ _ Q,~ ~8590<50900 l~------~'~"'--='o' ~ : :0 -~~_-~_:~C_~_~_:t=~~~~~ 0, -..,,---,,'"'_,, ".",_,~~,,'00, ~ ~ 0,00 0l'~ california Dept of Education SACS Firul~i::ll R,>nnrtilYJ ~nfhn"'n> _,,01')? n

154 : Frem()rrt: Union High Santa Clara County 2012~13First Interim General Fund Summary ~ Unrestricted/Restricted Revenues, Expenditures, arid Changes in Fund Balance Form 011 Description Resource Codes Object Codes Board Approved Origin~~Udget operati?:)budget Actualic~oDate Projected Year Difference %Diff Totals /01 (COI,~&D) (%~) Quality Education Investment Act ,,~,~ -'o"'.o~o+_- --~ All Other State Revenue TOTAL, OTHER STATE REVENUE OTHER LOCAL REVENUE Other local Revenue County and District Taxes Other Restricted levies Secured Roll Unsecured Roll Prior Years' Taxes All Other 8590 _-----i!,870,964.09l!-----.l!.&!0, (73, f----',.--680,887,~-~-,.680, ":34,,20;5""26"'.5"' """"""''''''''+_ (1,540, ;i30,785.oo -17.7% 1,480, ~_J99, ~ '---~~-----,--~--_...~ Q:!!Q.r ~- " 0.0% o 1_ 8617 _,-'.Q,QQ. ---llqq., 0.0%, Supplemental Taxes Non-Ad Valorem Taxes Parcel Taxes Othe, CommunitY'Redevelopment Funds Not Subject to Rl Deduction _~...Q,ll(L_.._----'!,Q!l.I--.. _~QQ.. 0.0% 9" 163,250.~_.,,,5,163,25 J392.oo 5,163-,--2~. ;---no----o.lj ~q c."o"'.o"-0t-.,.j!:q!l --_ -,Q,~--_..,.~,~ Penartiesand Interest from Delinquent Non-Revenue Limit Taxes 8629 _ ~,,,Q,QQ,'-_. J!:9~0+_-_ ~0~.0,,0't_-~0"'.0"%-'I Sales Sale of Equipment/Supplies Sale of Publications Food Service Sales All Other Sales leases and Rentals Interest Net Increase (Decrease) in the Fair Value of Investments _.' 8, , 'C'8",8",94"".5",5't_.. _~~,~ " 10,38Q~_E2:~ _......Q,()Q_~..Jl,QQ ~O~.OO,+_...QiJ4.._...Q,Qo/, =- 58~:~1-= 58~'----~~-~;==.~ ,~~~ ~-,563-q :t--"~~: 10,9057?+-- 10, g,q~'_" 10,~~ ,~t-----~Q~ _------:!JO, ?~.. ~~ 171,3@~!--- 94q,:QQ.I--_".~.~, ~ Q:QQ.._. 0.:...OQ.j-- ~.QQ. _,,,Q~ Fees and Contracts Adult Education Fees Non-Resident Students _~! " ~ _..Q,QQ. _". 0.0%.. _ O.oq j ~ ~ -~.MQ.l--...,QJ!Q.I- J!Mo Transportation Fees From Individuals 8675,_ O.OO_t--,.---~ -~-, ~f_---~-- Q.:QQ. ~ TransportatiOn Services Interagency Services 7230,7240 All Other n,,---~-\---""-~ --_J!:QQ J!:QQ.\--, Q:QQ. -,--~.. 278,968.00",978, ,,~ _" 1,155, J76,538.00,~ Mitigation/Developer Fees All Other Fees and Contracts _-"--~ 697, ~ 697, ~-..-_..Q,QQ.f-....QQ!l. f-...<>jlj\ _~,Q~!:QQ..._. 698,4~~,,1, _,,_~ Other Local Revenue Plus: Misc Funds Non-Revenue limit (50%) Adjustment Pass-Through Revenues From local Sources All Other local Revenue Tuition All Other Transfers In Transfers Of Apportionments Special EduCatiOri SElPA Transfers From Districts Or Charter Schools From County Offices From JPAs ROC/P Transfers From Districts or Charter Schools From County Offices From JPAs Other Transfers of Apportionments -'-From rifsirlcts or Chart~rSchools From County Offices California Dept of Education SACS Financial Reporting Software I f f ~.-.. -~ l--- _ lii,,5, ~:: _:::t u J.5, , _837,681'~ 1 Q:.Q4- Q:9.Q. =::1..._::!---:~ ~-..~-:: _..?,343,549,:!l!!l 2,343, _ 36,~,-~ _" 1,990,~ I... _ 0.0",+_..... O.OOt.....Q,QQ..! !!:QQ All Other 8791 Q:QQ. All Other?~..Q,Q!l.... Q.QQ. r--- -" Q,QQ.. " QJ?Q..Q~ _.QRQ. 9~ 72,310.62,,~ Q:Q~ _,!L..Q% O.OO! _0.0% (353'503.~= _..o,q!l....q,qj&...q,qq,,----- _!!:QQ.I ""_...QJlli ~-~~~t~~ _ ---~" ~~,~,,~_ :t =- -:::-~E.--~-~:-::=--_-.. ~.-~:---:-.-::E.:::

155 Fremont Union High Santa Clara County C 201:2-13 First Interim General Fund Summary ~ Urirestricted/Restricted Revenues, Expenditures, and Changes infund Balance Fonn011 Board Approved Projected Year Difference %Diff Object OriginClI Budget OperatirlgBudget Actuals To Date Totals (CoIB&D) IElB) c Descriotion Resource Codes Codes la' re' /01 /EI /I" rfi From JPAs All Other 8793 _cc _."- OcOO 0.0% All Other Transfers In from All Others 8799 ~c _~~O O.O~ TOTAL, OTHER LOCAL R~YENUE ---._--- 10,729, ,729,942~55 1,172,867J.3 ~. 10,9m , % I TOTAL, REVENUES _.. 1 _~ 94,684,O65~55 94,684,065.5~. 7,038, _97,660,~ ,976, _~ California Dept of Education SACS Firum,';;..] RI'lnnrtil'V1 ~ftw"r<>_?fl1 ').? n

156 Fremont Union High Sarna Clara County DescriDtion CERTIFICATED SALARIES certificated Teactiers' Salaries Certificated Pupil Support Salaries Certificated Supervisors' and Administrators' Salaries Other certificated Salaries TOTAL, CERTIFICATED SALARIES CLASSiFIED SALARIES Resource Codes First Interim General Furid Summary., Unrestricted/Restricted Revenues, Expenditures, aoo Changes in Fund Balance Objil!ct,I Origin~A':~ Codes 1900 I ~udget (AI Board Approved operati~lbudget I Projected Year T~~;S Form 011 %Diff (r.~) 1100 ~ , % ;3,677'361,,00 3,677, , ,069, (392, % 1300 r.6,098,300coo 6,098,30 1,929, ,068,2P.3~. 30,007,00 O.~% 686,222,00,-,6",86",.",222~.0"'0Cj-_-.-'2",4"2.",040"",,.1'.'7-.j~. 702,1.~. (15,~!1:QQ.,_,,_ -~.~ =~-~7,540,601-~7,540,60 10,713, _, 47,330,Q4...:LQQ..._, _ 210,5 ~, ~ Classified Instructional Salaries Classified Support Salaries Classified Supervisors' aoo Administrators' Salaries Clerical, Technical and Office Salaries Other Classified Salaries TOTAL, CLASSIFIED SALARIES EMPLOYEE BENEFITS ,978, ,978, on ,26~:'!Q ,01 3,036, ,036,961.00"" _ 947,32?"~ },014, , % 22, % 2300 ~6,B ,026, ~ 641,5~~_. )",.0"5",4".6,,94,,.,,00"+- "'-''''''''''''''1-_-'.'.'''''1 (27, %, 2400 I.. 4,814, , ,382, ,069,144.00, (254, % ?!4, _ 1,214, , ~1~.69~7~.,,85~9~.00~i ===9_~=~1 (483, %.... '_5,.Q?9,461.(}f!,t- 15,070, ,011,~~ J5,402, i~?, % STRS PERS OASDIlMedicareJAlternative Health and Welfare Benefits Unemployment Insurance Wort<ers' Compensation OPEB, Allocated OPES, Active Employees PERS Reduction Other Employee Benefits TOTAL, EMPLOYEE BENEFITS. BOOKS AND SUPPLIES Approved Textbooks and Core Curricula Materials Books and Other Reference Materiats Materials and Supplies Noncapitalized Equipment Food _TOTAL, BOOKS AND SUPPLI~ SERVICES AND OTHER OPERATING EXPENDITURES I ""..'U'Q Jl'l'> :t= ~ Q"""'-f--" (49, % ,843, _~,843, , ,838, ,881::QQ.I--_...ll~ _J~5n, _9,5n,312.oo 3,041, ,622, ~ (44,72.fl,QQ,I- :g.o?~ ,65' 997,65 158, , ~~,831,QQ.j :1% ,70 825,70 _ , ,711RQ.1--" 0.~'~_ ,411,18 1,,411,18, I1.,,~ l---,_ 952, f , % ::::~:: ~:~:.- ::::I----~-"------= :::~~ :r:-::~--= ,003.00,131, _",~~- 77:~~~ ~:n.. '.~ ' ~.-;,583:Q~ r-~-~0:7~ ~"... ~~ ,215,205.00". 5,683'~~f----_..?Q,568,159.OQ _---E.~7,046.qo 3.0% 4100 I Q~_ :@i"""""" ~QQ. J _:~ 4200 ~ _.. 419, ~LQQ. (760, :!!'~ 4300! 1.,096,079&?-t-_,4,096, Z1.?..!~ 8,284, (4,188,91 ~:..~ 4400 ~ "' 373, _. 373, ~Q r Q"- J213,861,Q(l, --~ 4700 I.. O.O~--""'-, _ QRQ......Q~. ~ _.,389,057Ji~.?-'.389, ,300, ,375,28~A~L _J.,986,226,_~ ::1:!..:!..:.r& Subagreements for Services ,256~ 1,256,4~ 25,876.?.1.. M.86, (230,372.00) ~ Travel and Conferences Dues and Memberships Insurance Operations and Housekeeping Services Rentals, Leases, Repairs, and Noncapitalized Improvements Transfers of DirecI: Costs Transfers of Direct Costs -Interfund ProfeSSional/Consulting Services and Operating Expenditures ,~ ,lQ!i..:QQ.f----,239,785.7I uzqo, _ (66,728.00) -lq~ 5300 f 82, _ 82,99!!,Q!Lf , Jt3...~ _ (863.00>[._~ :~ 457, \-:"' 457,264.00,~ 484, _ 126,78)I" ~ ~_'.'._ 2.,306...'..63:._. _. 2,306, j..45, " 2,334'~l- ' _ (28,333.00)1'''''~ r , '..7.2~_t.~7, _~,~"QQ.I-_ 27,71500j ---~ 5710 i Q:QQ1.. ~ 100 New 5750 I _...l,i'~.~n(5.2;5~.~ (1.~'0'; (539600l ~% 5800 _----"d!q, "dlq,6314 2,509.6Q'i. _ Z @.:: _- -125)'.=;~:;~;~:~~~:::~:-='.._.-_-.""--'~=_'_''''''_-~~--. ~~~- j-=~t:::::~::.~~;~=--~:~::l 1~.::~::~1~~~.;;:::-1::~:~ California Dept of Education 3ACS Financial Reporting Software

157 Fremont Union High Santa Clara Colinty First Interim General Fuhd Summary - UrirestrictedlRestricted Revelllies, Expenditures, and Changes in Fund Balimce Fern; 011 DeseriDtion Resource Codes Object Codes Board Approved Origin~~~Udget operati~)budget Actual~c~oDate Projected Year T~~~IS %Diff (~~) CAPITAL OUTlAY Land 6100 Land Improvements 6170 BliildillgS arid Improvements ofbuildings 6200 ~, BOoksand Media for NeW School Libraries or Major Expansion of School Libraries Equipment Equipment Replacement rto~t~a~l",",c~a~p~it~a~l~o~u"t"la=y ~~ ~~_ OTHER OUTGO (excluding Transfers ofindirect Costs) _..- 0, % (202, % Tuition Tuition for Instruction Under Interdistrict Attehdance Agreements State Special Schools Tuition, Excess Costs, and/or Deficit Payments Payments to Districts or Charter Schools Payments to County Offices Payments to JPAs Transfers of Pass-Through Revenues To Districts or Charter SChools To County Offices To JPAs Special Education SELPA Transfers ofapportionments To Districts or Charter Schools 6500 To County Offices 6500 To JPAs 6500 ROCIP Transfers ofapportionments To Districts or Charter Schools 6360 To County Offices 6360 ToJPAs 6360 Other Transfers ofapportionments All Other Transfers All other Transfers Out to AU Others Debt Service Debt Service - Interest other Debt Service - Principal All Other TOTAL, OTHER O~IGO (exciudingjransfers of Ind)!'!ct Costs) OTHER OUTGO - TRANSFERS OF INDIRECT COSTS _._~,.~~-, ,~ "o,",o",o,+,,_, O.OO,~ -,,--,-"2,.~00"f-' 1 ~ _---1L!i,~~~~ _.~. ~, '" 0,00 _.._.----!!:QQ..,-_..._- 0.0% ,,~ 21, _21, ,...Q,QQ, 18, , % 7143 ~---="f----"--- 0,00 -"0-".0,,,0t-"-~- 0,00 0,00 0.0% ~_~ r ~ -,,0.,,00,,+_,,~ "_-,o",.oo,,,+~," ~=::to:oo: ~ ~ ~_~.9.00 r MQ.,,, ~_,~O~l I..--.MQ...~ ~---.MQ, -,. ~ ~0~.0~0+~ " _ -.,Q:QQ.t------~ c~ "0-".0,,,0t-----., 0.0% I--~' 0,00 f-'---"~ ",0.",00+_..- -,,0.,,0,,0+- ~, ~ 0.0% 0_00 ~ 0.0%.., Q:QQ Q,QQ, _,..._ 0.0% ",, -----M.Q.. ""_,, "....Q,QQ,.._" 0.0%,,,_ f ~ _.QQ'Yu " O.OO ~ ".. 0.0% ~,,,_ '-_~.~ Q:QQ.I--'Q..Q'&. "...,, O.0Q. " _".Q:QQ..~ ",_...QJ!Q. 0.0%, ~ ,,9 00 f r- --~ ---..,, Q,QQ.. --~ 7439,, lhqq..."" _ +!tqq ~QJ!Q.I--,_Q~ _"_~t--~2,,'''',3-''3,,5,,.0,,0i_-.-.~ 21, ~ ,8?,6.00 (12, % Transfers of Ihdirect Costs Transfers of Indirect Costs -lnterfund >11 0' ". (185, ~4"22,,,.,,00"'f-_~~"'.JCQQ. ~~... (188,o55,0]_ ( 2,6"33,,,.00""i_,,-1.4% TOTA!:., OTHER OUTGO - TRANSFEBS OF INDJRECT_~OSTS " J185,421.. h '.185, (188, _... 2,~.:.~ ct"o"t",a",l".,e"'x"p-"e"n"o'!.'t"u"'r"e"s'- "..,,,_ " ~ 1~ 100,905&@""",_,100,905,650.66L, 25,348, ,,, 1:7705, ,,, 6,800,2:::;"..±ITo. ~ahfomia Dept of Education ~Af:':<::: t;;n",rv-i<>! I;JL>...;~.e...A. ~_

158 Fremont Union High Santa Clara County First Interim General Fund Summary ~ Unrestricted/Restricted Revenues, EXpendirures, and Changes in Fund Balance Form 011 Board Approved,l Projected Year Difference %Oiff,"''''''''''''''''- pescriotion --''''''''''''''''''''''''''_-'o'''b"j"ec,,'_f-o_"_ g_'n.\.,,'blu_d_g_e_t+o~p_e_ Resource Codes CodeslAi'n31.._'.1in"gLB_U_d_ge~'+-Ar.-'-u-.'J:S~TLO-D_._te-+ ICl ljl tol It-I INTERFUND TRANSFERS INTERFUND TRANSFERS IN From: Special Reserve Fund From: Boildlnterestand Redemption Fund Other Authorized Interfund Transfers In _(a) TOTAL, INTERFUND TRANSFERS IN INTERFUND TRANSFERS OUT To: Child Development Fund To: Special Reserve Fund To: State School Building FundI County School Facilities Fund To: Deferred Maintenance Fund To: Cafeteria Fund ~ ~, '"I _ 7616 To""D~,,,-Is +_(C_0.l'~EEL &_D_)_+-.J( E1 IC-"FBL') rl,_~~ f ,, --"0."'00 Q.:illL ~. 1 "0,,,00"+_-'0"',0"'0/,"1" 8919 l-..." 3,366, ,366,785.72_.QJ!Q.. 1,022,931;00_ (2,343,85.4,-,7'.'2'lf---.:-69=,,,6""'I' 3, _3""3",66~~7"85,,.7,,2+,.,.~0,,,0~0+ 1,022, _~t:2~,34~3""e8,5~4~.7~2'1-_.jj=~.v6%,".=- ~ :::: l' '-...::'.== ----"C."O""oo",+_,_,..~ o~ -",=0.:0:0=- -- ::: ---'--- ":":'+-,-.---, "=.:: '''---,-,,~.":":"+.-.-,~:":~:"I" "m,..q,qq, 0,00,,, ~, ~ 706, , ~ 714,61 (7, _.::1..:lli Other Authorized Interfund Transfers Out 7619 '---:---_ 75, ~f1~",1,,,0,,0t-_,._, O",,,OOq 75,941.00' ~ ~~(b'l)-'t"o"'ta"l"',,,,n,,te'-"'r,,f,,u"'n"'d'-t'!ra=n,,s".f... E,,R,,S,,O"U"T.._f-_-'.7 82,o",,830""".0,,0'-f 782,83 790,551.QQ..JZ.ll!:QQ!,..~ OTHER SOURCESfUSES SOURCES 0.0% State Apportionments EmergencyApportionments Proceeds Proceeds from SalefLease PurChase of LandfBuiJdings Other Sources Transfers fr'om Funds of LapsedlReorganized LEAs Long-Term Debt Proceeds Proceeds from Certificates of Participation Proceeds from Capital Leases Proceeds from Lease Revenue Bonds All Other Financing Sources (c) TOTAL, SOURCES. USES Transfers offunds from Lapsed/Reorganized LEAs All Other Financing Uses _(d) TOTAL,.USES _ CONTRIBUTIONS 8931 _, ~OQ f , q,qq" 0.0% B ,- --,---.Q,QQ, j q:.qq ,-----.Q,QQ, f ~O"~OO"+,,,,,.._"0,,,00,, Q,QQ l--~- ".,. --~~ " 8979 r--. ~". j-- ~Q:QR, --.QJ!Q.f '" _.!I:QQ. f--- f [,,..Q.lJO. f-e----, ,o,q9",",,,,.~o,,,oo,,+ -~~J!$. O~OO ~ ---~~ 0.0% O.O~_ :::[-- ::: :::,...Q:QQ., 0.0% _...MQ. ---~ 0,00 0.0% Contributions from Unrestricted Revenues Contributions from Restricted Revenues Transfers of Restricte,d Balances (e) TOTAL. C0N.:rRIBUTION~ oool., ooob',0 00 ~~OO f--~~ ",00 0,,~ooo!,," bl)or-~~....:i~ ---,-,, ~~~~~ ~:,,~_'_:" '._4=~...l~;~.~ ::::::;oc.v'oo"'v'i,_--"o:!lli TOTAL, OTHER FINANCING SOURCES/USES (a-b+c~d+e) 2,583, i 2,583, I 232, , % California Deptof Education SACS Financial Reoortina Software ~ 2012_2_0

159 Fremont Union High Santa Clara County First Interim AdiJlt Education Fund Revenues, ExpenditureS, and ChangeS in Fund Balance Form 111 Descrintlon Resource Codes Ob'ectCodes %DIff Projected Year Difference Column B':I O ()rigin~~~uclgd Op~""'.'d,., Actual~('~o Oate T~IS (CoIf~\& OJ A. REVENUES "' 1) Revenue Limit Sources of" ';00 iooo "H" i'ooi W'" 2) Federal Revenue , , , ,843~ % 3)QtherStateRevenue , ,401, , , % 4) Other Local Revenue ,207, ,207, , ,207, "eo 00% 51 TOTAL RFVENUES B. EXPENDITURES 1) Certificated Salaries ,443, ,443, , ,444, f1, % 2) Classified Salaries , , , , % 3} Employee Benefits , , f % 4) Books and Supplies , ~ ( % 5) Services and Other Operating Expenditures f % 6} CaPital Outlay ;00 0.0% 7) Other Outgo (excluding Transfers of Indirect 71oo~7299, Costs) % 8) Other Outgo - Transfers of Indirect Costs , '",nnm -,,., 9 TOTAL EXPENDITURES C. EXCESSIDEFICIENCy) OF REVENUES OVER EXPENDITURES BEFORE OTHER FiNANCING SOURCES AND USES AS - 89\ M=._ O. OTHER FINANCING SOURCESJUSES 1) Interfund Transfers a) Transfers In % b) Transfers Out % 2) Other SourceslUses a) Sources % b) Uses DJ1Q.09 QOQ -Q,QQ Ql~.9_&% 3) Contributions _ Q,Q!L -----,'",,-- ---QJ)!L ~ ~ -. _.Q,gO ",QJ}J~ 4\ TOTAL OTHER FINANCING SOURCEs/USES ( ~'=~-=-~' -..._- ~_._- Califomia Dept of Education

160 Fremont Union High Santa Clara County DescriDfion E. NET INCREASE (DECREASE) IN FUND BALANCE IC + D4l F. FUND BA1..A.NCE, RESERVES 1)Beginning Fund Balance alas of July1- Unaudited b)auditadjustmenls First Interim Adult Education Fund Revenues, Expenditures, and Changes in Fund Balance Forri'l 11/ Resource Codes Ob'ectCoctes..' BOard Appr:oved Projected Year Original Budget Operating Budget Actuals To Date T:15,ti, 'c { <2n "'" ( (COI~B~&Dl ~~~ 9791 U92, , ,192, % 9793 '"0,""" c) As ofjuly 1 -Audited (F1 a + F1b) d} Olher Restatements e) Adjusted Beginning Balance (F1c + F1d) 2) Ending Balance, June 30 (E + F1e) Components of Ending Fund Balance a) Nonspendable RevOlVing Gash Sto~ Prepaid Expenditures All Others b) Restricted c)commitled Stabilization Arrangements Other Committments d) Assigned Other Assignments U92, , ,192, ,co 1192, ,192, , , ;65 806, ,B om '" > ,Q.1 or M""" "" e) UnassignedlUnappropriated Reserve for Economic Uncertainties Unas. nedluna 'aled Amount _..Q1!Q... ~i!9. DOO =,,=-~--"----=,=. _-='=_=~_~~ ~~'M "=~~~

161 Fremont Union High Santa Clara County Arst Interim Adult EduCation Fund Revenues, Expenditures; and Changes in Fund Balance Form 111 Descrintion Resource Codes Ob'ect Codes Boarti Approved operati;~)budget Actuals To Date C Projected Year T~::1s Difference (CoIB&D) 'E' FEDERAL REVENUE Interagency Contracts Between LEAs % NCLB I IASA 3000,3299, , ; 4610, % Vocatiorial and Applied TechriologyEducation Safe and Drug Free Schools 37{){} % Other Federal Revenue All Other ,68 222, % TOTAL. FEDERAL REVENUE 254, , n % OTHER STATE REVENUE Other State Apportionments All Other state Apportionments - Current Vear All Other % AI! Other State Apportionments - Prior Vears All Other ,00 0.0% All Other State Revenue , ,401, % TOTAL, OTHER STATE REVENUE 2,401, ,401, % OTHER LOCAL REVENUE Sales Sale of EquipmentlSupplies % Leases and Rentals % Interest ,00 13,00 3, % Net Increase (Decrease) in the Fair Value of Investments % Fees and Contracts Adult Education Fees , , ,50 0.0% Interagency SerVices % Other LOGal Revenue All Other Local Revenue , , , % Tuition % TOTAL, OTHER LOCAL REVENUE 1, , , ,207, Q.Q~,?alifomia Dept of Education

162 Fremont Union High Santa Clara County Rrstlnterim Adult Education Fund Revenues, Expenditures, and Changes in Fund Balance Foim 111 Descriotion Resource Codes Obiect Codes %DlfI Board ApprOVl!d ProjectedYear Difference Column Origini~~Udget operati~:\budget Actua~c~oDate T~~1s (COlt~l&D' BI~D CERTIFICATED SAlARIES Certificated Teachers' Salaries , , ( % Certificated Pupil SuPPort SalarieS % Certificated Supefvisors' and Administrators' Salaries , (207:62 0.0% Other Certificated Salaries ~ % TOTAL. CERTIFICATED SALARIES 1 443, , , , /1, % CLASSIFIED SALARIES Classified Instructional Salaries , ( % Classified Support Salaries , , ( % Classified Supervisors' and Administrators' Salaries ,64 91, ,64 0.0% Clerical. Technical and Office SalarieS , , (28, % Other Classified Salaries , , , , % TOTAl. CLASSIFIED SALARIES 904, , , (31, % EMPLOYEE BENEFITS STRS , % PERS , , % OASDllMedicareiAllemative , , % Health and Welfare Benefits , , % Unemployment Insurance :04 29, , ~ % Workers' CompensStlon ; , , Hi% OPEB, Allocated , , / % OPEB, Active Employees % PERS Reduction % Other Employee BenefIts , % TOTAL, EMPLOYEE BENEFITS 497, , , , {22, % BOOKS AND SUPPLIES Approved TextbookS and Core Curricula MaterialS % Books and Other Reference Materials , , , , , % Materials and Supplies , , , , , % Noncapitalized Equipment , , , (2, % TOTAL, BOOKS AND SUPPLIES 271, , , {37, % ca,fornia Dept of E<lucalfon,,,.,,,, "'n~~'''' Q-""';_ "'-'h.

163 Fremollt Union High Santa Clara County First Interim Adult Education Fond Revenues, Expenditures, and Changes in Fund Balance Form 111 Descrintion Resource Codes Ob ectcodes Board Approved Projected Year Difference Coluinn OriginfA~Udget operati~blbudget Actual~c~0 Date T:1s ICOII~l&D) B,~D %om SERVICES AND OTHER OPERATING EXPENDITURES Subagreements for Services ;00 O.O~ Travel and Conferences , , ~00 / e6.8% Dues and Membimlhips ,61 2, :00 O~O% Insurance ,00 0.0% Operations and Housekeeping Services ,80 35,800,00 13, ,00 0.0% Rentals, leases, Repairs, and Noncapitalized Improvements % % Transfers of Direct Costs 5710 nrio nm n'~ riori AM noo, Transfers of Direct Costs -Inlerlund ;000; ,00 0.0% Professional/Consulting Services and Operating Expentfltures , , , , (49, *24.7% Communicatlof1s , , , , ;0% TOTAL SERVICES AND OTHER OPERATING EXPENDITURES 329,719,00 329, , ,47 (39, % CAPITAL OUTLAY La"' "% land Improvements % Buildings and Improvements of Buildings % Equipment % Equipment Replacement % TOTAl. CAPITAL OUTLAY 0.0% OTHER OUTGO (excluding Transfers of Indirect Costs) Tuition Tuilion, Excess Costs, andfor DefieR Payments Payments to,districts 01 CharterSchbols % Payments io County Offices % Payments to JPAs ,00 0.0% Debt Service Debt Service ~ Interes! % Other Debl Service * Principal ,00 0.0% TOTAL, OTHER OUTGOfexcludino TransfelS of Indirect Costs) 0.0% OTHER OUTGO - TRANSFERS OF INDIRECT COSTS Transfers of Indirect Costs - lnteifund , , , % TOTAL, OTHER OUTGO - TRANSFERS OF INDIRECT COSTS 149, , / % TOTAL EXPE DtTURES California DeI>I of Education

164 FremontUnion High Santa Clara County 2012,..13 First Interim Adult Education Furid Revenues, Expenditures, and Changes in Fund Balance Form 111 Descriotion Resource Codes ObiectCDdes %Diff Board Approved ProjectedYear Difference Column Origin1A~Udget operati~:)budget Actu~c~oDate T:15 (COII~I&Dl BI~D INTERFUND TRANSFERS INTERFUNO TRANSFERS IN OtherAuthorized Interfund Transfers In , , % I (aj TOTAL, INTERFUNo TRAN$FERSIN , % INTERFUND TRANSFERS OUT To; State School Building Fundi County Schoo! Facilities Fund % Other Authorized Inlertund Transfers Oul , , , % I rb) TOTAL, INTERFUND TRANSFERS OUT 672, , , % OTHERSDURCESAJSES SOURCES Other Sources Transfers from Funds of LapsediReorganked LEAs % long-term Debt ProceedS Proceeds from Certificates of Participation % Proceeds from Capital Leases % All Other Fmancing Sources % I tcl TOTAL SOURCES 0.0% USES Transfers of Funds from LapsedJReorganired LEAs % All Other Financing Uses % 'dltotal. USES 0'" ----,~- CONTRIBUTiONS 2cQQ '" 00%, Contributions from Unrestricted Revenues % Contrlbutions from Restricted Revenues '% Transfers of Restricted Balances ,--~...--_. 00. re\ TOTAL, CONTRIBUTIONS ,-,~ -----~ ~".,,1l.:..DQ ~ ----~~._c.-...:...(hqq ~~\Lllli TOTAL, OTHER FINANCING SOURCESIUSES (a-b+c-d+e) (596,99) (596,990.0D) (596~99)

165 Frernont Union High Santa Clara County Rrst Interim Cafeteria Special Revenue. Fund Revenues, EXpenditures, and Changes in Fund Balance Form 131 %Diff Board Approved Projected Year Difference Column Origin~i~Udget Operating Budget Ac1I.Ials To Date Totals ICoI,:\&D).&D De!;crintiOll Resoorce Codes Ohlect Codes C' D If) A. REVENUES 1} Revenue limit Sources % 2) Federal Revenue , , % 3}OtherStaie Revenue 8300; ,329;00 41, n~ O.QO 0.0% 4) Other Local Revenue ,292,66 1,292, ! -01% 5'TOTAL ~EVENuES B. EXPENDITURES 1) Certfficated Salaries % 2) Classified Salaries ,232,61 1,232,61 336, ,260,48 ( % 3}Employee Benefits , , , % 4)B6ciks and Supplies 400Q ; , , ( , -2.9% 5) Services and Other Operating Expenditures ; , , % 6} Capital Outlay % 7) OtherOutgo (exduding Transfers of Indirect , Costs) % 8} Other Outgo - Transfers of Indirect Costs , '" 9 TOTAL EXPENDITURES A.i C. EXCESS (DEFICIENCy) Of REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES/As- 891 ( ( (71461 D. OTHER FINANCING SOURCESIUSES 1) Interfund Transfers a) Transfers In , % b) Transfers Out % 2) Other SourceslUses a) Sources % b) Uses J'il Qc -Q,-Qfl 77..QOQ QcQQ_ f.. 0.0", 3) Contributions ,-," ~ _ _Q.:QQ _.- _ % 4\ TOTAL OTHER FINANCING SOURCES/USES California Dept 01 Ed<.JCallon

166 Fremont Union High Santa Clara County 2012~13 Arstlnterim Cafeteria Special Revenue Fund Revenues, Expenditures, and Changes in Fund Balance Form 131 i Board Approved Projected Year Difference Cofunm Origin~BUdget Operating BUdget Actual:c;o Date TC: IS (COI~I&D) Descriotion ResourCe COdes Obiect Codes B 'm E. NET INCREASE (DECREASE) IN FUND " BAlANCE 'c.. 04 He,."",, F. FUND BALANCE, RESERVES 1) Beginnlng Fund Balance a) As of July 1 "Unaudited % b) AuditAdjtisiments 9793 o oc, c)as Of July 1 Audited (F1a + F1b) 41, , , d) Other ReStBtemenis 9795 OM 0.0" '" e) Adjusted Beginning Balance (F1c + F1d) 41, , , ) Ending Balance, June 30 (E.. F1e) 41; , Components of Ending Fund Balance a) Nonspendable RevolVing Cash 9711 i Sto"" , Prepaid E.Xpenditures 9713 "" OM 000 A1IOlhers 9719 nm._---...ql1!l ~.. b) Restrieted 9740 OM c) Committed Stabilization Arrangements noo 000 bon. - oon Other CommJlbnents 9760 d) Assigned, Other ASsignments 9780 OM ---,-,-...,-,--~ 0"' e) UnassignedlUnappropriated Reserve for Economic Unceltainties 9789._--- O~OO 000 O"JO Una"'-~nedlUnannmnriated Amount ~~ _.----~---~ C,",ifornill Dept 0/ Education ~'" J;;n~"""" c...:-..,..._

167 Fremont Union High Santa Clara County First Interim Cafeteria Special Revenue Fund Revenues, Expenditures, and Changes in Fund Balance Form 131 Desi:rintion Resource Codes Ohiect Codes 'DIff Board Approved Projected Year Difference Column Original Budget operati~:\budget Actualic~oDate T:IS (COI~I&D) Bi~D 'A' REVENUE LIMIT SOURCES Revenue limit Transfers Unrestricted Revenue LimilTransters - Current Year ,0% All Other Revenue LimitTransfers~CurrentYear A1101her % Revenue Limit Transfers Prior Years :00 0.0% TOTAL, REVENUE LIMIT SOURCES 0.0% FEDERAL REVENUE Ctlild Nutrition Programs , , , , , % Other Federal Revenue % TOTAt, FEDERAL REVENUE 531, , , , % OTHER STATE REVENUE Child Nutrition Programs , , , % All Other Stale Revenue % TOTAL OTHER STATE REVENUE , , % OTHER LOCAL REVENUE Sales Sale of EquipmentfSupplies % Food Service Sales ,292, , , (1, % Leases and Rentals % Interest % Net Increase (Decrease) in the Fair Value of Investments % Fees and Contracts Interagency Services % Other Local Revenue All Other Local Revenue % TOTAL, OTHER LOCAL REVENUE 1,292, , f1jl JQQJ.::1Lt~ OTAL REVENUES ~.~...~-~.~._.~

168 Fremont Union High Santa Clara County Rrst Interim cafeteria Special Revenue Fund Revenues, Expenditures, and Changes in Fund Balance Form 131 Descrinfion %Diff Board Approved Projected Year Difference Column Resource Codes Ob ectc Origln~~~Udget operatj~~\budget Actuals To Date (CoIB&DJ B&D T~ C 'E' " CERTIFICATED SALARIES Certificated Supervisors' and Administrators' Salaries % other Certificated Salaries % TOTAL CERTIFiCATED SALARIES 0:00 0.0% CLASSIFIED SALARIES Classified Support Salaries , ,457:00 (27;87-4.3% Classified Supervisors' and Administrators' Salaries , , , ,0% Clerical, Te<:hnical and Office Salaries , ,35 0,0% Other Classified Salaries % TOTAL CLASSIFIED SALARIES 1, ,232, ,48 (27,87-2.3% EMPLOYEE BENEFITS SrRS % PERS , , ,049,00 11, % OASDllMedicarelAltemative , , , , , % Health and Welfare Benefits , , % Unemployment Insurance , , , , , % Workers' Compensation , , % OPEB, Allocated , , (31, % OPEB. Active.Einployees % PERS Reduction "0 0.0% Other Employee Benefits ,20 19, ,60 (14,40-75:0% TOTAl.EMPlOYEEBENERTS 543, , ,54 43, % ibooks AND SUPPUES Books and Other Reference Materials % Materials and Supplies , , , , % Noncapitalized Equipment ,40 12, , % Food , , (18,00-3.0% TOTAL, BOOKS AND SUPPLIES , , , %

169 Frem9nt Union High Santa Clara County 2012.,.13 First Interim Cafeteria Special Revenue Fund Revenues, Expenditures. and Changes in Fund Balance Form 131 Descriotion Resource Codes Obiect Codes %Diff Board.Approved Projected Year DifferenCtl Column Origin~~~udget Operati~:lBudget Actua~c~ODate T~~'S (COlf~\&D) B(~D SERVICES AND OTHER OPERATING EXPENDITURES Subagreemimts for Services % Travel and Conferences ,55 7,55 8; ,06 (2, % Dues and Memberships 53<) % Insurance 540~ % Operations and Housekeeping Services % Rentals. Leases, Repairs, and Noncapitalized Improvements '" e.8' Transfers of Direct Costs '00 o'oil boil I).oil 0. ' Transfers of Direct Costs -Inlerfund , % PrOfessionalfConsulting Services and Operating Expenditures ,81 8,81 2, ,16 /35-4.0% Communications , , % TOTAl. SERVICES AND OTHER OPERATING EXPENDITURES , , % CAPITAL OUTLAY Buildings and Improvements of Buildings % Equipment % Equipment Replacement % TOTAL, CAPITAl OlfTLAY 0.0% OTHER OUTGO (excluding Transfers of Indirect Costs) Debt Service Debt Service - Interest % Other Debt Service - PrinCipal % TOTAL, OTHER OlfTGO lexclud"ln Transfers of Indirect Costs\ 0.0% OTHER OUTGO TRANSFERS OF INDIRECT COSTS Transfers of Indirect Costs - Interfund , % TOTAL. OTHER OUTGO - TRANSFERS OF INDIRECT COSTS 35, ,50 Q,QQ- Q,.Q~ TOTAL EXPENDITURES ~ nQ _='='M""~~~~~~_='~~~ ~al.ifumia D<!pt 01 Education

170 Fremont Union High Santa Clara County 2012~13First Interim CafeterlaSpecial Revenue Fund Revenues, Expenditures, arid Changes in Fund Balance Form 131 Descrintlr>n %DIff Board Approved Projected Year Difference Column R ource Codes Origin~~Budget Operati:\Budget Actuals To Date Totals (CoIB&D) Ohiect Codes C D ie' Bi~D NTERFUND TRANSFERS INTERFUND TRANSFERS IN From; General Fund Mo 706, , Loo 1.1% Other Authorized Interfund Transfers In % (a)total, INTERFUND TRANSFERS IN , , % INTERFUND TRANSFERS OUT Other Authorized Interfund Transfers Out lJQ 0.0% I (b) TOTAL, INTERFUND TRANSFERS OUT 0.0% OTHER SOURCES/USES SOURCES Other Sources Transfers from FlSlds of lapsed/reorganized LEAs % Long-Term Debt Proceeds Proceeds from Capital Leases % All Other Fmancing Sources % I ~ITOTAL,SOURCES 0.0% USES Transfers of Funds from Lapsed/Reorganized LEAs % All Other Financing Uses % I ldltotal. USES 000 0_00 00% CONTRlBlJTIONS, Contributions from Unrestricted Revenues 8980 OM noo 0"",,00 00" Contributions from Restricted Revenues 8990 ~~..,,00,,00,,00 OM OM 0", Transfers of Reslik:led Balances 8997 (1.00 I 000 0, :00/ Ie1TOTAL. CONTRlBUnONS ----,- ~---~ QQ , _00 0.0% OTAl. OTHER FINANCING SOURCESJUSES (a-b+c-d+e) 706, ,61

171 FremontUnion High Santa Clara County 2012~t3 First Interim Deferred Maintenance Fund Revenues, Expenditures, arid Changes in Fund Balance OOQ{)OOO Form 141 O"gln:~~...g", Deserl tion Resource Codes Ob eetcodes f., - 'ei A. REVENUES -'T;~I; Difference %Diff Column ~~.~ 1) Revenue limit Sources 801()..8()99 OM OM 000 "no 2) Federal Revenue 810D-8299 nm nm OM nm OM n~ 3) Other State Revenue ,398,00 392~ , % 4)Other Local Revenue ; ; , , % 5 TOTAl REVENUES 'M~"" 'MMOM w,." 'MnMM B. EXPENDITURES 1) Certificated Salaries 1000,1999 OM noo/. 2) Classified SaJaJies % 3) Employee BenefitS % 4) BookS and Supplies , , , , (32,770.o % 5) Services and OtherOperaling Expenditures , , , /217; % 6) Capital OulJay % 7) Other Outgo (exduding Transfers of Indirect , COsts) _.-...QJlJl 0, ', 8) Other Outgo - Transfers of Indirect Costs /. 9\TOTAL EXPENDlTU~ES C. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES' las ;. 89\ ~="~'~.'.~-~~==~~~ D. OTHER FINANCING SOURCESIUSES 1) lntelfund Transfers a) TrariSfers In % b) Transfers Out % 2) Other SOIlrceslUses a)soilrces ,00 0.0% b) Uses f ~QO _..()J)Q._ - _Q&O Q,-~ 3) Contributions ", " _ " "" Q:lli1c -_._- - _.",,- -,_.!!:Q!L --~QQ.,.._._._-~ 4 TOTAL OTHER FINANCING SOURCESIUSES _-~~---~~.._-. ~ifornia Depl "I'Education

172 Fremont Union High Santa Clara County First Interim Deferred Maintenance Fund Revenues, Expenditures, and Changes in Fund Balance Form 141 Board Approved Projected Year Original Budget operati~~budget ActualsToDate Totals e, Description Resource Codes Ob'ect Codes 'Ai ~~~:'~) e:,~~ '0' '" E. NET INCREASE (DECREASE) IN FUND BALANC_l:':J~+ Q51 (25060 F.FUNDBAlANCE. RESERVES 1)Beginning Fund Balance a) As of,luly1 UnaudUed , , ,638, % b) Audit AdjListments 9793 OM 0.0% c) As of July 1 Audited (F1a + F1b) 2638, , ,638, d) Other Restatements g795 0;00 COO COOL e) Adjusted Beginning Balance (F1c + F1d) 2,638, , , ) Ending Balance, June 30 (E + F1e) 2,638, , ,388, Components Of Ending Fund Balance a) Nonspendable Revolving Cash Stores Prepaid Expenditures DOO All Others b) Restrteted DOD DOD c) Committed, Stabilization Arrangements "'-OJ!. 000 Other Committments 9760 d) ASSigned j Other Assignments 'I e) Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 nod :1 UnassianedllhlaoDltlDriated Amount 9790 California Dept of Eclucation!>Jl<'_" H~'~' <>'""""'~ "''''''._

173 Fremont Union High Santa Clara COunty 2012~13 First Interim Deferred Maintemince Fund Revenues, Experiditures, and Changes in Fund Balance Form 141 %Diff BoardApproved Projected Year Difference Column Descrintinn Resource Codes Ob ectcode Original Budget OJ;JeratingBudget Actuals To Date T~~IS (CO\~}&D) 'A Ici B,~D OTHER STATE REVENUE All OtherState Revenue ; , , % TOTAL, OTHER STATE REVENUE 392, ,398~ % OTHER LOCAL REVENUE S,,., Safe of EquipmenVSupplies % Interest , , % Net Increase (Decrease) in the Fair Value of Investments % Other Local Revenue All Other Lor;:al Revenue % All Other Transfers In from All Others % TOTAL, OTHER LOCAL REVENUE 7, , , ,eo OTAL REVENUES ')f; 'e?i'

174 Fremont Union High Santa Clara County Fii"stlnterim Deferred MaintenanCe Fund Revenues, EXpenditures, and Changes in Fund Balance Form 141 DescriDtion ReSOurce Codes Obiect Codes %DIff Board Approved Projected Year Difference Column Origin~~~ud9et operatir:\budget ACtual: c ; 0 Date T~~1s ICOII~l&DI B':ID ClASSIFIED SALARIES Classified Support Si;lIaries % Other Classified Salaries 2900," % TOTAL, CLASSIFIED SALARIES 0.0% EMPLOYEE BENEFITS STRS % PERS % OASDlJMec.JlcareJAltemafive % Health and Welfare Benefits % Unemployment Insurance % WorKerS' COmpenSation % OPES, Allocated % OPEB, Active Employees % PERS Reduction % Other Employee Benefits % TOTAL, EMPLOYEE BENEFITS 0.0% BOOKS AND SUPPLIES Books and Other Reference Materials % Materials and Supplies ,105, , % Noncilpilalized Equipment , , ,00 (17, % TOTAL BOOKS AND SUPPLIES 9, , , nO.OO % SERVICES AND OTHER OPERATING EXPENDITURES Subagreements for Services % TraVel and Conferences % Rentals, Leases, Repairs, and Noncapitalized Improvements 5600 ~!M?' J)O 376_,}91~(),Q_ Z2.~,t~1,56. J2tQ.c1.1bQ~.(2Q1.,947.O.Q) -64.2:'& Transfers of Direct Costs _.,-~._-,- ~_.!LOO ~-- _J.!!!fl_ f-e-~ -,-""" ---QJ!Q. -,--,,~ " -- _ Q&% Transfers of Direct Costs -Inlerfund % ProfessionalfConsulling Services and Operating Expenditures , , , , % TOTAL. SERVICES AND OTHER OPERATING EXPENDITURES 390, , , , % CAPITAL OUTLAY Land Improvements % Buildings and Improvements of Buildings ,00 0.0% Equipment % Equipment Replacement % TOTAL, CAPITAL OUTI.AY 0.0% OTHER OUTGO (excluding Transfers of tndirect Costs) Debt Service Debt Service - Interest T438 0,00 0.0% Other Deb1: Servk:e - Principal % TOTAl. OTHER OUTGO fexcludina Transfers of Indirect Costs) 0.0% TOTAL EXPENDITURES California Dept,of Ed",ation SA("_<: 1'""""".."" "...'M "-"u

175 Fremont Union High Santa Clara COunty First Interim Deferred Maintenance Fund Revenues. Expenditures. and Changes in Fund Balance Fonil 141 %Diff Board Approved Projected Year Difference Column Origin~~~Udget Operating BUdget ActuaisToDate Descri tion Resource Codes Object Codes B 'C' T:1s (COlf~I&D) B,~D IHTERFUND TRANSFERS INTERFUND TRANSFERS IN From:.General. Special ReserVe. & Building Funds :00 0.0% OtherAuthorized lnteifllnd Transfers In ,00 0.0% 'aitotal INTERFUNDTRANSFERSIN 0.0% INTERFUNDTRANSFERS OUT Other Authorized Inteifund Transfers Out % bltotal.interfund TRANSFERS OUT 0.0% OTHER SOURCESJUSES SOURCES Other Sources Transfers from Funds Of lapsedfreorganlzed LEAs ,00 0.0% Long-Term Debt Proceeds Proceeds from Capital Leases % All Other Financing Sources % I fel TOTAL, SOURCES 0.0% USES Transfers of Funds from Lapsed/Reorganized LEAs % AU other Financing Uses :00 0.0% IlrilTOTAL, USES "CO..._-_._-, ,00 CONTRIBUTIONS Contributions from Unrestricted Revenues O.OQ 0", Contributions from ReStricted Revenues ' Transfern Of Restricted Balances OO~ (eltotal CONTRIBUTiONS. -,---.Q.J!Q.... -"'~'~' ~ % """ 0,0% I TOTAL. OTHER FINANCING SOURCES/USES (a-b+e-d+e) S'l~~ia DepI of Educatkln

176 Fremont Union High Santa Clara County Fir'st Interim Building Fund Revenues, Expenditures, and Changes in Fuild Balance oo00 סס Form 211 Ori"o.' "o<!got Ope,,"o, ",""" DesCrintion Resource Codes ObiectC~!"-REVENUES / 1) Revenue limit Sources 801()' <0' %Diff Projected Year Column T':1s (C~,".'DJ 8/:,0 \/ hod h""" 0""" id"" /... 2) Federal Revenue "00 0,0% 3) Other Slate Revenue 83QOo8599 0"00 0.0% 4) Other Local Revenue ,207~000.OO 4207,00 2,023,721.04,~ oom """ on, '" " 5) TOTAL.REVENUES,",m " '"H "' '"' om B. EXPENDITURES 1) Certificated Salaries "00 0'0. \0.& Woo \&00 0.' 2) CtassifiedSalaries , , % 3) Employee Benefits , , % 4) Books and Supplies , ,581,00 / % 5) Services and Other OpetalirlQ Expei'lditures ,000: ,058, (1, % 6) Capital Outlay :823, , % 7) Other Outgo (excluding Transfers of Indirect Costs) OM om, OM OM OM 0.0% 8) Other Outgo - Transfers of Indirect Costs ,00 "00 orio nm 91 ToTAL EXPENDITURES :> ( ( C. EXCESS (DEFtcIENCY) OF REVENUES OVER EXPENDITURES BEFORE OTHER, FINANCING SOURCES AND USES AS-B9,~-"'"",,",.~-"=. D. OTHER FINANCING SOURCESIUSES """ 1) li'lterfund Transfers a) Transfers In ,00 0.0% b) Transfers Out % 2) Other SourCes/Uses a)sources , % b) Uses _.-- _,Q.~O OJlQ QJ).r~. '",OJlQ" o.a~ 3) Contributions 898D _00 ~ ----~ 1'-- --.Qm ~"" ---- _Q:9~ ,-"-, ~,JtillL ----9Jr& 4 TOTAL OTHER FINANCING SOURCES/U<::ES "..._.. " '.-. ~..._.

177 Fremont Uflion High Santa Clara County 2012~13 Firstlnterim Building Fund Revenues, Expenditures, and Changes in Fund Balance Fonn211 %Diff Board Apprpved Projected Year Column Origln~~~Udget operati~ibud9et Actuals To Date Totlds (C.,;~;'0) 8 : D Descrintion Resource Codes Obiect Codes ICI 'm 1 l Eo NET INCREASE (DECREASE) IN FUND BALANCE 'S}'D4l 15n819.n ( w, ", F. FUND BALANCE, RESERVES 1) Begirmirtg Fund Balance a) As of july 1 - Unaud!led ,144, ,144, , ,00 0.0% b) AUdit Adjustments " c) As of July 1 -Audited (F1a+ F1b) 69, ,144, ,144; d) Other Restatements % e) Adjusted Beginning Balance (F1C + F1d) 69, , ,144, ) Ending Balance, June 30 (E + F1e) 68, ,383,462.n Components of Eoding Fund Balance a) Nonspendable ReVolving Cash , ODD 510"" ,00 0,00 Prepaid Expenditures 9713 OJlO O~OO All OthE!J$ 9719 b) Legally Restricted Balance 9740,"000"'00," 000 n" on c) Committed Stabilization Arrangements 9750 " Other Commitments 9760 OM d) Assigned Other Assignments 9780 " '" OM W. " "" '" AA'. 0',,, e) UnaSsigned/Unappropriated Reserve for Economic Uncertainties 9789 noo UnassionedlUnaooronriated Amount Caiifomi.a Dept of Education

178 FrElmorrt Union High Santa Clara County First Interim Building Fund Revenues, Expenditures; and Changes in Fund Balance Fonn 211 %Diff Board Approved Projected Year Dlffet'ence Column Descriotion Resource Codes Ob ectcodes Original Budget operati~:1budget ACtuals To Date Totals (CoIB&D) 'A C 'D' 'E' S:lD FEDERAL REVENUE FEMA % Olha-Federal Revenue % TOTAL, FEDERAL REVENUE D.oo 0.0% OTHER STATE REVENUE Tax Relief SUbventions RestriCted levies - Other Homeowners' Exemptions 8575 D.oo O~OO 0.0% Other Subventions/ln-lieu Taxes % All Other State Revenue 8590 O~OO 0.0% TOTAL OTHER STATE REVENUE 0.0% OTHER LOCAL REVENUE County and District Taxes OtherRestrictEid levies Secured Roll % Unsecured Roll % PriorYears'Taxes % Supplemental Taxes % Non-Ad ValOlem Taxes ParcerTaxes % 00" % Community Redevelopment Funds Not Subject to Rl DeducliOri % Penalties and Interest from Delinquent Non-Revenue limit Taxes % Sales Sale of EquipmentlSupplies % leases and Rentals , , ,556,80 100,20-2.7% Inlerest , ,00 0.0% Nettncrease (Decrease) in the Fair Value of lnvestmenls % Other local Revenue All Other local Revenue ,600,00 1,60000 N~ All Other Transfers In from All Others % TOTAL, OTHER local REVENUE 4,207MO.OO 4,207, ,80 1, % TOTAL REVENUES

179 FremontVnipn High Santa Clara County 2012.,13 First Interim Building Fund Revenues, Expenditures, and Changes in Fund Balance Form 211 Descrintion Resource Codes Obiect Codes %Diff Board Approved Projected Year Dfffef'ence Column Origjn~~~Udget opera~:1budget Actual~c~ODate T~:;IS (COI(~I&D) 8/: 0 1 CLASSIFIED SALARIES Classified SuppOrt Salaries 2200 n Classified SupervisorS' and Admiriistrators' Salaries , , , % Clerical, TeChnical and Office Salaries , , ; , % Other Classified Salaries % TOTAL, CLASSIFIED SALARIES 732, , , % EMPLOYEE BENEFITS "'" STRS , , , % PERS , , n.341.oo 11, % OASDlIMedicareJA/lemafive , , , % Health and Welfare Benefits , , ~00 0.6% Unemployment InsuranCe , , , % Workers' Compensation ,676;00 3, ;00 8.8% OPES, Allocated ; , ,98 n.1% OPEB, Active Employees % PERS Reduction % Other Employee Benefits , (12, % TOTAL EMPLOYEE BENEFITS """""_ 206,4&8.00 ""."' t2' % BOOKS AND SUPPUES Books and Other Reference Materials 4200 n'" 000 OM '00 nm 00% Materials and Supplies , , , (172, % Noncapitarrzed Equipment , ~ /122, TOTAL, BOOKS AND SUPPLIES 8, , , , % SERVICES AND OTHER OPERATING EXPENDITURES Subagreements for Services % Travel and Conferences ,00 6, (6, % Insurance % Operations and Housekeeping Services , C66; % Rentals, Leases, Repairs, and Noncapllalized Improvements Ql\OO 354, , ,76!l:,PO % Transfers of Direct Costs 5710 Q})O (WO O~OO.,!li!Q:!'--'-""'-'"-.QJlli. Transfers of Direct Costs - Interfund (44.00 "~ ProfessionallConsulting Services and Operating Expenditures ,50 41, , (525, % Communications , , [188, % TOTAL, SERVICES AND OTHER OPERATING EXPENDITURES 570, , ,058, % "'" California.Dept.of Education

180 Fremont Union High Santa Clara County 2012~13 first Interim Building Fund Revenues, EXpenditures, and Changes in Fund Balance Form 211 Deseri tion Resource Cotles o.eet Cotles %Diff Boar(iApproved Projected Year Difference Column Ori9in~~~Udget operati;:ilbudget Actual~c;oDate T:'5 ICoI(~)& D) B':I D CAPITAl... OUTLAY Land ,00 48, ,015, , % Land Improvements % BuildioQs and Improvements of Buildings , ,042,360..n 19:129, ,554,047:12 "'3221.8% Books and MedJafor NeW School Libraries Of Major expansion ofschool Libraries % Equipment , , % Equipment Replacement (4, N~ TOTAl CAPITAL OUlLAY 48,823, ,058, R % OTHER OUTGO (ext;luding Transfers of Inc:lireet CostS) Other Transfe~ Out All OtherTransfe~ Outto All OtherS % Debt Servil;e Repayment of Slate School Building Fund Aid - Proceeds.from Bonds % Debt Service -Interest % Other Debt Serviee - Principal % TOTAl, OTHER OUTGO (excludino Transfers of Indirect Costs' 000 o(lj' TOTAL EXPENDITURES no

181 ---~,- _,J)~ Fremont Union High Santa Clara County Rrstlnterim Building Fund Revenues, Expenditures, and Changes in Fund Balance Fonn 211 %Diff Board Approved Projected Year Difference Column Descrintion Resource Codes Ob ect"':odes Original Budget Operati~1Budget Al;tua~cTODate Totals (CoIB&D) 'A '0' OE el~d INTERFUND TRANSFERS INTERFUND TRANSFERS IN Other AiJthorized IllterfimdTrailsfers In % I fa} TOTAl, INTERFUND TRANSFERS IN 0.0% INTERFUNO TRANSFERS OUT To: State School BUilding Fundi County School Facilities Fund % To: Deferred Mainlenance Fund % Other Authorized Interfund Transters Oul , ,693, , %. fbi TOTAL, INTERFUNo TRANSFERS OUT 2,693, ,693,854, , % OTHER SOURCES/USES SOURCES Proceeds Proceeds from Sale of Bonds ,254, % Proceeds from SaleJLease- Purchase of Land/8uildings % Other Sources County School Building Aid % Transfersfrom Funds of LapsedfReorganized leas % Long-TermDebt Prpceeds Proceeds from CertificateS of Participation % Proceeds from Capilalleases % Proceeds.from Lease Revenue BondS % All Other F"lnanCing Sources % Ilc\TOTAl.SOURCES , ,254, % USES Transfers of Funds from lapsed/reorganized LEAs % All Other Financing Uses % I td ToTAi.., USES ~---_.._-- CONTRIBUTIONS -----~,Q,,QQ J2_00 OM OM ---- om 00"' Contributions from Unrestricted Revenues ),00.~ -----,~ O;,QO f, q,oo (1.0% Contributions from Restricted Revenues _..- Q::9Q- _~~.. C.QQ. " OJlO..._ % (el TOTAl. CONTRIBUTIONS -'--"'-'~_JbQQ.._--_._.- O~OO - - -,tqq lul.jo TOTAL, OTHER FINANCING SOURCES/USES (a-b+c-d+e) 45,561, ,561, , Califomia Del>t 0/ Eduoation

182 frelffiont Union High Santa Clara County 2012.,.13 firstlnteriin Capital Facilities Fund Revenues. ExpenditureS, and Changes in Fund Balance Form 251 %Dfff Projected Year Difference Column OP""~';I'"d,,,, Al;tua~c~oDate T~1s Descri tion Resource Codes Obiect Codes fal It.!A. REVENUES 1) Revenue limit Sources "no 'no >on, {>;'die < OM nm <nno >XX 2) FedemlRevenue > i.i..>,00 On" 3) Other State Revenue % 4) Other Local Revenue , ? , OM "D"' 51 TOTAL REVENUES QF;.4.00 B. EXPENDITURES 1) Certificated salaries % 2) Classified Salaries % 3) Employee Benefits :00 0.0% 4) Books and Supplies % 5) Services and Other Operating Expenditures ,00 30,00 5,25 30,00 0.0% 6)CapilalOutlay 6OOll.o % 7) Other Outgo (excluding Transfers of Indirect , Costs) C,M DM DM 00"' 8) Other Outgo - Transfers of Indirect Costs OM 00' "M om >000 ""~ QITOTAL EXPENDITURES ooo.no Ie. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES la!, _B D. OTHER FINANCING SOURCEs/USES 1) interfundtransfers a) Transfeis In % b) Transfers Out :00 0.0% 2) Other SourCes/Uses a) Sources % bj""" Q:Q!t JoO ~..Q(Il) &% 3) Conbibutions ~--.QJ!!. _'M" 0,0% 4\ TOTAL OTHER FiNANCING SOURCE$III<::ES..._.~"._.~.~~".~ ~."."~".~~.

183 Fremont Union High Santa Clara County Firstlnterim Capital Facilities Fund Revenues, ExpenditiJres. and Changes in Fund Balance FdrTn 251 %Diff Board Approved Projected Year Difference Column Origln~~~Ud9et Operating Budget Actu~c~ODate T..." Deseri lion Resource Codes o ectcodes B 0 E. NET INCREASE (DECREASE) IN FUND BALANcE IC "0",'" F. FUND BALANCE; RESERVES ~ BI~lO 1)Beginning. Funcl Balance alas ofju!y 1 Unaudited ,371, ,371, % b) Audit AdjtJstments % c) As of July 1 -Audited (F1a + F1b) 2,371, , d) Other Restatements % e) Adjusted Beginning Balance (F1c + F1d) ,371, ) Ending Balance, June 30 (E + F1e) ? ,256, Components of Ending Fund Balance a) Nonsp~dabJe RevOlving Cast! , Store, , Prepaid Expenditures 9713 All Others 9719 b) LegaUy Restricted Balance c) Commltted Stabilization Arrangements Other Commitments 9760 d) Assigned Other Assignments 9700." '"" e) Unassigned/Unappropriated Reserve for Economic Uncertainties ~ 000 Unassi nedjuna riated Amount 97M D.rm _~=='~"M=" California Decl or Education

184 Fremont Union High Santa Clara County First Interim Capital FaCilijjesFund Revenues, Expenditures, and Changes in Fund BalanCe Form 251 DescriDtlon Resource Codes Oblect Codes %Diff Board Approved Projected Year Difference Column Ori9i~~~Udget Operati?:lBUdget Actua~c~o Date T~~IS ICol:,&Dj el~d OTHER STATE REVENUE Tax Rerlef Subventions Restricted Levies ~ Other Homeowners' Exemptions ;00 0:0% Other SubventiOnS/In-lieu TaXeS % All Other Stale Revenue % TOTAL, OTHER STATE REVENUE 0.0% OTHER LOCAL REVENUE County and Distrtel. Taxes Other Restricted Levies Secured Roll % Unsecured Roll % PriorYears' Taxes % SupplementalTaxes % Non"Ad Valoi'em Taxes Pan::ejTaxes % Other % Commuril1y RedevelopmentFunds Not Subject to Rl Deduction % Penalties and Intel"est.from Dellriquent Non"Revenue limit Taxes % Sales Sale of Equipment/Supplies :00 0.0% Interest ,00 10,00 4, :00 2, % Netlnerease (Decrease) in the FairValue of Investments % Fees and Contracts MiligationfOeveloper Fees , , A (2,30-0.3% Other Local Revenue All Other Local Revenue % AU Other Transfers In from All Others % TOTAL. OTHER LOCAL REVENUE , G,QO Q,Q.'1I' TOTAL REVENUES

185 Fremont Union High Sarita Clara County First Interim Capital Facilities Fund Revenues, Expenditures, and Changes in Fund Balance Fohn 251 Oescrinfion Resource Codes Ohlect Codes %Diff Board Approyed Projected Year Difference Coltimn Origin~~BUdget operati~:budget Actual~c~ODate Totals (CoJ,~&O) D B':10"~ CERTIFICATED SALARIES Other Certificated Salaries % TOTAL. CERTIFICATED SALARIES 0.0% ClASSIFIEO'sAlARIES Classified Support Salaries % Classified Supervisors' and Administrators' salaries ;00 IW% Clerical, Technical and Office Salaries % Other Classified Salaries % TOTAL CLASSIAED SALARIES 0.0% EMPLOYEE BENEFITS STRS % PERS % OASDI!Medi(:arelAltemative 3301*3302 ODO ODO ODO M% Health and Welfare Benefits % Unemployment Insurance % Workers' Compensation % OPEB, Allocated % OPEa, Active Employees 3751* % PERS Reduction % Other Employee Benefits 3901* % TOTAL, EMPLOYEE BENEFITS 00" OM '00 OM 0.0% BOOKS AND SUPPLIES Approved Textbooks and Core Curricula Materials " Books and Other Reference Materials ~_._-----,Q!llt '"'' "'" OM OM 0.0' Materials and Supplies % Noncapilalized Equipment % TOTAl BOOKS AND SUPPLIES 0.0% SERVICES AND OTHER OPERATING EXPENDITURES SUbagreements for Services % Travel and Conferences % Insurance % Operations and Housekeeping Services % Rentals, Leases, Repairs, and Noocapiialized Improvements %, Transfers of Direct Costs ;00' O~OO -D.DO ROO O~O% Transfers of Direct Costs lnterfund % ProfessionaVGonsulling Services and Operating Expenditures ,00 30,00 5,25 30,00 0.0% Communications % TOTAL. SERVICES AND OTHER OPERATING EXPENDITURES 30,00 30,00 5,25 30,00 OD% California Deo>I. of EdtJC:ation

186 Fremont Union High Santa Clara County Rrst Interim CapitatFacHities Fund Revenues, Expenditures; and Changes in Fund Balance Form 251 Descriotion Resource Codes Ob'ectCodes.. CAPITAL OUTLAY,ii' ic '.. %Diff Board Approved Projected Year Difference Column Original Budget Operating Budget Actuals To Date T~'S (COtB&D) B:10 land % land ImproVements ,00 0.0% Buildings and Improvements of Buildings :00 0.0% Books and Media for New School libraries ormajor Expansion of School libraries % Equipment % EQuipment Replacement '''0 0.0% TOTAL CAPITAl OUTLAY ono 0.0% OTHER OUTGO (excluding Transfers of Indirect Costs) Other TransferS Out All OtherTransfers Out to All Others ngg 0.0% DebtServic;e DebtService - Interest % Other Debt Service - Principal :00 0.0% TOTAL, OTHER OUTGO exdudin Transfers of Indirect Costs) 00% TOTAL EXPENDITURES ,,=,~~-~~-~_.

187 ----'--~..-MQ- _...~QQ _._.llilll ---QiQ FremootUnion High Santa Clara County First Interim Capital Facilities Fund Revenues, Expenditures, and Changes in Fund Balance oo0 סס Form 251 DescriDtion Resource Codes Ob'eet Codes %Dlff BoardApproved Projected Year Difference Column Origin~~~Udget operati~:lbudget Actual~c~oDate T~~ls (Coll~l&D) Bf~ID INTERFUND TRANSFERS INTERFUND TRANSFERS IN other AUthOriiedlnterfund TranSferS In % la) TOTAL. IN'TERFUNDTRANSFERS IN 0.0% INT,ERFUND TRANSFERS,OUT To: State SchoolBuilding Fund/ County Schoof Facilities Fund % Other Authorized Interfund Transfers Out %, (b) TOTAL. INTERFUND TRANSFERS OUT 0"0 0.0% OTHER SOURCESIUSES SOURCES Proceeds Proceeds from SaJeIlease- Purchase of LandIBuildings % Other Sources Transfer,:; from Funds of Lapsed/Reorganized LEAs % Long-Term Debt Proceeds Proceeds from Certificates of Participation ;0% Proceeds from Capital Leases % Proceedsfrori'iLease Revenue Bonds % All Other Financing Sources % {chotal, SOURCES 0.0% USES Transfer,:; of Funds from Lapsed/Reorganized LEAs % An Other Financing uses % d TOTAL. USES CONTRIBUTiONS --~ ---_.- ---~ - -.,. "."".O"Q[ ---,._-"" 0,,00 0.0% Contributions from Unrestricted Revenues Ql2 '---~ Contributions from Restlicted Revenues 8990 ~- M% (e)toral, CONTRIBUTIONS _._-....MQ:. - -" --" Q"QQ. --~-~'''' TOTAL. OTHER FINANCING SOURCESlUSES (a-b+c-d+e) -----_."._,~ ----,-~- - ",!LQ% DOOr J~~ Cal;ro",ia Dept.oI E.ducation

188 Fremont Union High Santa Clara County 2012:-13 FirstlntEltim CountySchool FacirrtiE*; Fund Revenues, Expenditures, and Changes in Fund Balance FoiTri 351 Ori"", B"',.. Descrintion Resource Codes Obiect Codes,n REVENUES %DIff ProjeCWd Year Column T~IS 8&0 Ic~';f,'~DI " 1) Revenue Limit Sources "0 000.,"'" fio" i.llii /bj;~ 2) Federal Revenue "00 0"00 O.0't~ 3) Other State Revenue '"00 '"00 0.0% 4)Other LOGal Revenue 860D ,00 1, "'" 51 TOTAl REVENUES '00000 "OIl 00,227.", 000"'0 > B. EXPENDITURES 1) CertifIcatedSaJalies ,"oil ""00 00' d",,"i" 2)Classmed Salaries 2Ooo~2999 '"OIl 0.0% 3) Employee Benefits '"00 '"00 '"00 0.0% 4} Books and Supplies , , , , % 5) Services and Other Operating Expenditures , , ( % 6) Capita! Outlay , , % 7) Other Outgo (excluding Transfers of Indirect , Costs) OM OM -- Q.,Q:O ", 8) Other Outgo - Transfers of Indirect Costs ",HIO 9\TC)lAL EXPENDITURES Q"Q!l,.oon 0"0 on, ~ C. EXCESS (DEFICIENCY) OF REVEl\1UES QVe:R ex:penorrur:esbefore OTHER FINANCiNG SOURCES AND USES 'AS _89\ D. OTHER FINANCING SOURCESIUSES 154 Q ' ~" 1) Inlerfuncl Transfers a) Transfers In '"00 '"00 0.0% b) Transfers Out % 2} Other Sources/Uses a) Sources '"00 0.0% b) Uses ,.. ""999 ljcq.q =..._._.--,-.QJ1.Q, O!){} OeQQ O.o~ 3) Contributions O~OO_ -_._._-, c...:..e-.-,....- O,O(J Q.OO 000 0_0% 4 TOTAL OTHER FINANCING SOURCE<::fUSES o.no '"00 --~",.~. -~~-

189 Fremont Union High Santa Clara County 2012~13 Firstlnterim County School Facilities Fund Revenues, Experiditures, and ChangeS in Fund BalariCe F6ml 35/ Descri lion Resource Codes Ob1ectCoc:Ies B()ardi\pproved Projeckd Year Difference.~ Column Orjgjn~~~Udget operatl~:1budget Actualfc;o Date T<::ls (CoI,~\& OJ B&D E. NETINCREASE (DECREASE) IN FUND BALANCEfC_ { ( F. FUND BAlANCE, RESERVES 1) Beginning Fund BalanCe a) AsOt July 1 - Unaudited , , ~ % b}audi! AdjuStments 9793 "00 no, c) As of July 1 -AUdited (F1a + F1b) 584, , d) Other ReStatements 9795 OM 00' e) Adjusted Beginning Balance (F1c + F1d) , ) Ending Balance, June 3O(E + F1e) ?54.70 Components of Ending Fund Balance a) Nonspendable Revolving Cash S""~ 9712 Prepaid Expendilures 9713 O~OO O~OO All Others 9719 b) legally Restricted Balance " 70 70'''''0 000 c) Committed I Stabilization Arrangements "" Other Commitments 9760 d) Assigned Other Assignments Q~ e} Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 ""0 000 U'" ned/una riated Amolm! 9700 Cslifornia Dept 01 EduMti"".

190 Fremont Union High Santa Clara County Arstlnterim CountySchoor Facilities Fund Revenues, Expenditures, and Changes in Fund Balance Form 351 D~crlDiion Resource Codes OblectCom....., %Oiff Board Approved Projected Year Difference Column Original Budget Operatii31 Budget Actual~c~oDate T~::1s (ColI~I&D) 8;;1 0 FEDERAL REVENUE Other Federal Revenue % TOTAl, FEDERAL REVENUE 0.0% OTHER STATE REVENUE School FaCilities Apportionments % PasseThroligh ReVenues froinstate SOUll;es 8587 '"% All Other State Revenue % TOTAL OTHER STATE REVENUE 0.0% OTHER LOCAL REVENUE Sales Sale of EquipmentlSupplieS % leases and Rentals % Interest , % Net Increase (Decrease) in the FairValue of Investments % Other local Revenue All Other local Revenue % All Other Transfers In from Air Others 8799 ono 0.0% TOTAL, OTHER LOCAl REVENUE , DOO.. Q.Q~ OrAL REVENUES Calil<>mta Dept of EdUGatior> SACS Financial R"""rti"" Software

191 FremontUnion High Santa Clara County First Interim CountySchClo] Facilities FlJnd Revenues, Expenditures, and Changes in Fund Balance Form 351 Descrl';'''on Resource COdes Ob1ect Codes %Diff Board Approved Projected Year Difference Column Orig~ludget operati~~\budget Actua~cToDate T:" (COlf~I&D) B:1D CLASSIFIED SALARIES Classified SupportSalaries % Classified SupeniisOlS'and AdministratorS' SalarieS % Clerical, Tectinical and Office Salaries ,0% Other Classified Salaries ,00 0.0% TOTAL, ClASSIFIED SALARIES 0.0% EMPLOYEE BENEFITS STRS % PERS % OASDVMedicarelAltemative % Healtt1and Welfare Benefits O;(}() 0.0% Unemployment Insurance 3501., % Workers' Compensation 3601~ % OPES, Allocated % OPES, Active Employees % PERS Reduction M% Other Employee Benefits % TOTAL, EMPLOYEE BENEFITS " "00 OM OM ", BOOKS AND SUPPUES Books and Other Reference Materials 4200.",," no" ","..,,,;, "n.. Materials and Supplies , , , % Noncapitalized Equipment , / N~ TOTAL, BOOKS AND SUPPLIES 112, , , , , % SERVICES AND OTHER OPERATING EXPENDITURES Subagreements for Services % Travel and Conferences % Insurance 540(} % Operations and Housekeepin9 Services % Rentals, Leases, Repairs, arid Noncapitalized Improvements 5600 '--~. 37,81S.6~ , New Transfers of Direct Costs ,01} 0,00,{tOO. ~-- "'-"-----_JhQQ.. c 0_00 iw% Transfers of Direl;t Costs -lnterfund /77.00 N,w ProfessionallConsulting SeMces and Operating Expenditures ,00 200, , / % Communications '75 N~ TOTAL. SERVICES AND OTHER OPERATING EXPENDITURES 200,00 200,00 47, , % California Dept of Education ~~Fi~ao:tC~al Reporting SofIwa

192 Fremont Union High Santa Clara County First Interim County-School Facilities Fl6ld Revenues, ExpenditureS, and Changes in Fund Balance Form 35/ %DIff Board Approved Projected Year Difference Column Descrirition Resource Codes Ob ecicod'" Original.Budget operati~:ibudget Actua~c;0 Date T~~S ICOI'~l&D) B&D 'A ffi - CAPITAt OUTLAY land "0 0.0"-," land Improvements % Buildings and ImpioVeillentS of Bulcfrngs , , % Books and MediaforNeWSdloolLibmoos or MajorEXpaosion ofschool libraries ;00 0.0% Equipment "0 O~O% EquipmentReplacement % TOTAl. CAPITAl OUTLAY 200, , % OTHER OUTGO (excluding Transfers of Indirect Costs) Other Transfers Out Transfers of Pass-Through Revenues To Districts orcharter Schools :00 0.% To County Offices :00 0.0% To JPAs % All Other Transfers Out to AN Others ;00 0.0% Debt Service Debt Service - Interest % Other Debt Service Principal % TOTAL, OTHER OUTGO excludintl Transfers of Indirect Costs QQQ f...o"d~ OTAl EXPENDITURES :'-M= "_:_'~~=,~"";~.l_~~o,=_~;._~. California Dept of Education SACS Financial Reporting Software _ File, furnl~d (Rev (12)

193 Fremont Union High Santa Clara County 2012~13 First Interim CouritySchbbl Facilities Fund Revenues, Expenditures, and Changes in Fund Balance ForIri 351 Descri 'on Resource Codes Obiect Codes Origin~~~Udget INTERFUND TRANSFERS Projected Year T:," %Oiff Column 8/:)0 INTERFUNO TRANSFERS IN To: State School6uilding Fundi CountY SChool Facilities Fund From: All Other Funds % Other Aulhorized Interfund Tral'lsfers In % Cal TOTAL. INTERFUND TRANSFERS IN 0.0% INTERFUND TRANSFERS OUT To: State School Bu~ding Fundi County School Facilities Fund % Other Authorized Inteifund Transfers alit % I Ibl TOTAL, INTERFUNO TRANSFERS OUT 0.0% OTHERSOURCE~SES SOURCES Proceeds Proceeds from SaJe/lease Purchase of LandlBuildings % Other Sources Transfers from Funds of Lapsed/Reorganized LEAs long-tenn Debt Proceeds Proceeds from Certificates of Participation % 0.0% Proceeds from Capltalleases % Proceeds from Lease Revenue Bonds % All Other financing Sources % Icl TOTAL, SOURCES 0.0% USES Transfers of Funds from Lapsed/ReOrganized LEAs {dl TOTAl, USES ,... J~&Q ----,~ MQ. 0.0% _..--C"".LOiL 00% CONTRIBUTIONS Contributions from Unrestricted Revenues 8980 Contributions rrom Restricted Revenues 8990 a.oo..o""",ot_'~'~~'_"o.",o.+---~.-,oc.-",oo~' ''''''+---''''-9 0.0% ~,.2:QQ. r ~..._,...qqll r "'-"'~'.."'oo+----~--~ O-QQ J!"Q.: - 1-"'"-!T,O"TOAlk.,C"O"N,T"R.'B.lJT'!.!.!'O",,N>S ~ ~~_~ ~~~_-t"'."-'-'---'.'-'~~~. ~..;.,..!1QQ. ~ ~--,-,-...:...:...&-Qit _._..;...:...:...~,-, Q,QQ.. ~~_""~_OO '" _.9,&0.J1Q'r" TOTAL, OTHER FINANCING SOURCEs/USES (a-b+c~d+e) Calik>m'" Daot 01 Eduoalion

194 ~,-,--- Fremont Union High Santa Clara County First Interim Bond Interest and Redemption Fund Revenues, Expenditures, and Changes in Fund Balance Form 51/ Descrintion!A. REVENUES %Diff Board Approved Projected Year Difference Column Original Budget Operating Budget Actual~cioDate T~~IS (COI/~I&DJ B&D Resource Codes Ob'ectCOdes _"..Bl"~~_~~"_~" r-"~j~l,,~,, IFl _ i "" 1) Revenue UmitSources noo, 0,00 0:00 Q,~ 2) Federal Revenue , ,017,50 N~ 3) Other State Revenue ,, ,174,00 N~ ~~L9th~.~9,~~I,:~_~yt'ln~: , ,721.03,"00"'''", 5\TOTAL REVENUES ~q'i 0<. ""i i B. EXPENDITURES.... 1) Certificated Salaries ) Classified Salaries '.., T -""-~ ' "GO.. oji,.'. '. ". 0'.00 00' ',:,:'(WO i.... koo %. 'MlG ; 3) Employee Benefits i oem.. 00% 4)Books and SupplieS ,,00, 00<1 000., " 00 0.'''".; 5) Services and OtherOperating EXpenditures "co,... " '.,,," ". OIlO 000 "0% 8) Capita! Outlay ) Other Outgo (excluding TranSfers of Indirect 71()O.7299, ". i 0'00 ;,... " "DO. 00<, )000 Il 00' Costs) , 'O""M 00 N~ 8) Other Outgo - Transfers of Indirect Costs \ +..6".'; "" "'" ;,i Obo.' ~*6 }~O"!< 9 TOTAL EXPENDITURES i."! C. EXCESS {DEFICIENCYj OF REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES fas - 89\ '. O. OTHER FINANciNG SOURCES/USES 1) lntelfund Transfers a) Transfers In 8900.,8929 0,,00 0,,00 0.0% b}transfers Out % 2} Other SourceslUses a)so-urces % b) Uses OO~ 3) Contributions "in,"i.. 'i'ijri '60 >oi. ihi..."" 4\ TOTAL OTHER FINANCING SOURCES/USES n,oo.' Cl'llm,rnia Dept of Educatlon SACS Fi""ndal Reporting Software Fila: funcf,-d (Rev 04/ )

195 .' F~mont ljnion High Santa Clara County First InteriiTi Bond Jnterestand Redemption Fund Revenues, Expenditures, and Changes in Fund Balance Forni 511 %Diff Board Approved Projected Year Difference Column Origin~~~Udget operati~:lbudget Actual~c;O Date T~~1s (COI{~,&D) B&D DescriDtion Resource Codes Ob'ect Codes ~,~_.JFJ :~ E. NET INCREASE (DECREASE) IN FUND. BALANCE 'c + 04\ <; ~.~_.~ F; FUND BALANCE, RESERVES 1} Beginning Fund Balance I> a} As ofjuly 1 - Unaudited ,637: ,637, ,637, :0% b) AuditAdjustments % c) AS of July 1 -Audited (F1a + Fib) 16,637,30R01 16, ,637, d) Other Restatements {) 0.0% e) Adjusted Beginning Balance (F1c + F1d) 16,637, 'ii ) Ending Baiance, June 30 (E + Fie) mmoooo',., f 'i h...i' CompOnents of Ending Fund Balance. a) Nonspendable 0"' /..,,;,; 1.<.. Revolving Cash Ii 0" Stores 9712 [1.00..'...,'i'6.00 I( ".. cd", ",~ ),"' h'.., I, Prepaid expenditures 9713 fe' r All Others ';0" 000 b) Legally ReStricted Balance 9740, "m,,' c) Committed i) i,... ""'.dhd Stabilization Arrangements 9750 hi.," "".. " Other Commitments 9760 d)assigned, I';.i J;o "".. Other Assignments 9780 e) Unassigned/Unappropriated J f. 'OO Reserve for Economic Uncertainties 9789,. 0:00 Unassinned/Unarinronriated AmoUnt 9790 "')) i' rioo f' 1/...

196 FremontUniori High Sarita Clara County Rrst Interim Bond Interest and Redemption Fund Revenues, Expenditures, arid Changes in Fund Balance Foim 511 Descri '" FEDERAL REVENUE %Diff Board Approved Projected Year Difference Column Origin~~~Udget Operating Budget Resource Codes Ob'eet Codes B At:tua~c~oDate T~:;1s (COI;~\&D) B;:,o - Other Federal Revenue 8290 Mo , ,50 N~ TOTAL FEDERAL REVENUE 672, , ,SOO.00 OTHER STATE REVENUE Tax Relief Subventions Voted IndebtedneSs levies Homeowners' Exemptions N~ Other SUbventionS/in-Lieu Taxes % TOTAl, OTHER STATE REVENUE 102, New OTHER LOCAl REVENUE County and District Taxes Voted Indebtedness Levies Secured RoU ,570, ,570,841;03 N~ UnseJ;:ured Roll , ,347,88 1,34788 N PriorYears' Taxes 8613 O~OO 35, :00 0.0% Supplemental Taxes , :0% Penalties and IntereSt from Delinquent Non-Revenue limit. Taxes % Interest , ,00 83,00 N~ Net Increase (Decrease) in the Fair Value of Investments % Other Local Revenue All Other Local Revenue % All Other Transfers In from All others _00 0.0% TOTAl OTHER LOCAL REVENUE ,001, "0",,,, "' N~..., TOTAL REVENUES OTHER OUTGO (exctuding Transfers of Indirect Costs) Debt Service Bond Redemptions , /9055,00 N. Bond Interest and other Service Charges , f10513, N~ Debt Service -Interest , N~ Other Debt Service - Principal % TOTAL, OTHEROUTGO lexcludino Transfers of Indirect Costs} , ' N~ TOTAL EXPENDITURES California Dept of Eduoalion SACS Flna""ial Reporting Software_ File; fundi-<! (Rev 04fl8(2012)

197 Fremont Union High Santa Clara County 2012~13 First Interim Bond Interest arid Redemption Fund Revenues, Expenditures, and Changes in Fund Balance Form 511 %Djff Board Approved Projected Year Difference Column Origin~l~Udget operati~~ Budget Actual~c;oDate T~~1s (ColB&D) Descii lion Resource Codes Ob'ect Codes 'E' BI~iD lnterfund TRANSFERS INTERFUND TRANSFERS IN Other Authorized lnterfund Transfers In :00 0.0% fa) TOTAL, lnterfund TRANSFERS IN 0:00 0.0% INTERFUND TRANSFERS OUT To: General Fund % Other Authorized Interfund Transfers Out % ibl TOTAL INTERFUND TRANSFERS OUT 0.0% OTHER SOURCESJUSES SOURCES Other Sources Transfers fi"om Funds Of LapsedJReorganized LEAs % All Other Financing Sources % I (c) TOTAL, SOURCEs 0.0% USES Transfers of Funds from Lapsed/Reorganized LEAs % All Other Financing Uses % I (d)total USES. "M 0.0% /// ;'/"" /'.-/;' CONTRIBUTIONS... '" COntributions from Unrestricted Revenues 8980 /.;fkho -.'.. c/oh n"o '00 '."00 ' ""'0'; 1/.., Contributionsfrom- Restricted Revenues 8990 ;.,;""V "0.' "'/hho iik OM a'"~ '.. c I I {ehotal CONTRIBUTIONS.o"n.,; "" ooo 000 ""0 Q~%... TOTAL, OTHER FINANCING SOURCES/USES (a b+c-d+e)...

198 - ~ Fremont Union High Santa Clara County 20J2~ 13 First Interim Self~lnsurance Hmd Revenues. Expenses and Changes in Net Assets..... Projected Form 671 Year Dlffuence c~i~o DescrlDtlon ResoUrce Codes Oblect Code? <AI Iii, Ie, T::s (CoI'~I& D) ja.revenues 1) Revenue Limit Sources COO 000 C"" 2) Federal Revenlle noo 0= 0.0% 3) OtherState Revenue C.OC O.on " 4)Olhe(Local Revenue , , , , ""." "0 303% 5\TOTAL REVENUES "" a. EXPENSES 1) Certificated Salaries % 2) Classified Salaries "0 0.0% 3) Employee Benefits :00 0.0% 4) Books and Supplies % 5) ServiceS and Other Operating Expenses , , , , % 6) Depreciation nod onn % 7) Other Outgo (excluding Transfern of Indirect 7100-n99, COSIs) n= 0.0% 8) Other Outgo - Transfers of Indirect Cosls CO% 9 TOTAL EXPENSES C. EXCESS (DEFICIENCY) OF REVENUES OVEREXPENSES BEFORE onter FINANCING 5.gURCES AND USES las - 89\ C.OO ( =~.='=-==".- D. OTHER FINANCING SOURCeSIUSES 1) lnlerfund TransfelS a) Transfern lri % b) TransfelS alii % 2) Other Sources/USes a) SourceS % b) Uses O!l{) _...- _.Q,Q.Q _.._... _QJ!Q ~.- 91)jJ J.l_.,QQ..JLQl'o 3) Contributions _._~--...Q:QQ.. ~ "" O.~ ~. ~~.. G_OO -_._-_Q;Q~ 4) TOTAL OTHER FINANCING SOURCES/uSES :_~~:,,==~""'~~ - --~~-=. [;aiifomia Dept of Education SACSFj"""Oial R<lconi..., Soflwat'Q :>t'l1?~"

199 Fremont Union High Santa Clara County First Interim Se:IHnsurance Flll':ld Revenues, Expenses and ChangeS in Ne:tAssets 'ooooboo Form 671 DescriDtion Resource Codes Obiect Codes %DIff Board Approved Projected Year Difference CoIumll orlgjn~~~udget operat7:1 ~ud9et Actual~c;oDate T~~IS (CO'/~l&DI S:IO ««E. NET INCREASEIOECREASE) IN NET POSITION IC +04\ 0"0 E NETPOSITION 1)BeQmning Net Position a) As ofji.jly1 thlaudited , , :00 0.0% b) Audit Adjustments "93 h 000 om c}as ofjuly 1 - Audited (F1a + F1b) , d) Oltler Restatements " " ".&00." e) Adjusted Beginning Net Position (F1c + F1d) , ) Ending Net Position, June 30 (E + F1e) 97, , , Components of Erding Net Position a)net Investmentin Capital Assets :00 0;00 b) Restricted NetPosition :00 0,00 0:00 C UnrestriCted Net PositiOn 979n ' ~"""'=.'_~-~ California of EtIuc~';nn

200 Frernont Union High Santa Clara County First Interim Self-Insurance Fund Revenues, Expenses and Changes in NetAssets Form 671 Descrinf;';n Resource CodeS Ob'ectCodes %Diff BOOilrd,b,pproved Projected YeOilr Difference Column Origin~l~udget Operatl~)BUdget Actual~C~ODate T:1s ICOlf~tDJ Bi:ID OTHER LOCAl REVENUE SaleS Sale of EquipmentlSupplieS ,00 ROO 0.0% Interest ,00 i ,00 0;0% NetIncrease (Decrease) in the FairValueofInvestments ;00 0.0% Fees and Contracts In-DistTict PremiumsiContributions ,606; , ,094, % At! Other Fees andcontracts ,00 0.0% Other local Revenue All Other Local Revenue % All Olher Transfers In from All Others % TOTAL, OTHER LOCAL REVENUE 1, , , , , % TOTAL REVENUES ;iIO

201 Fremont Union High Sarita Clara County First Interim Self-lnsLirance Furid RevenueS, Expenses and Changes in Net Assets Form 671 Descrintion R urce Codes Ohieel Codes CERTIFICATED SALARIES %Diff B(lardApproved Projected Year Difference Column Original Budget Operati~:1Budget Actua~{oDate Tota" (CoIB&D) B'D " D,. F Certificated Pupil Support Salaries % Certificated SUPeTViscirs' arid AdministJators' Salaries % TOTAL, CERTIFICATED SALARiES 0.0% CLASSIFIED SALARIES Classified Support Salaries % Classified Supervisors' and Administrators' Salaries % Clelicai, Technical and Office Salaries % Other Classified Salaries % TOTAL, ClASSIFIED SALARIES 0.0% EMPLOYEE BENEFITS STRS % PERS "0 0"% OASOllMedicareJAltemalive % Health and Welfare Benefits % Unemployment Insurance % Workers' Compensation % OPEB. Allocated % OPES. Active Employees % PERS Reduction % Olller Employee Benefits % TOTAL. EMPLOYEE BENEFITS 0.0% BOOKS.AND SUPPLIES Books and Othe(Reference Materials % Materials and Supplies % NoncapitaJized Equipment % TOTAL. BOOKS AND SUPPliES O~OO 0.0% SERVICES AND OTHER OPERATING EXPENSES Suba9reements for SeTVices % Travel and Conferences % Dues and Memberships % Insurance % Operations and Housekeeping Services % Rentals, Leases. Repairs, and Noncapitalized Improvemenls % Transfers ofditect Costs Interfund % ProfessionallConsulling Services and Operating Expendilures , , ,096, (487, % CommunicationS % TOTAL. SERVICES AND OTHER OPERATING EXPENSES 1 608, , ,096, (487, % Californ", Dept of Education

202 -,.~-~ FremontUnion High Santa Clara Courity First Interim Self-Insurance Fund Revenues. Expenses and Changes in Net Assets Form 671 Descrtotion %Diff Board Approved Projected Year Dffference Column Original Budget OPerati~lBudget Actua~c~ 0 Date T~'S (COI'~I&DJ B&D ResOurce Codes Oboeel Codes,.. '" DEPRECIATION DepreCiation Expense 6900 O~O% TOTAL, DEPRECIATION h D%~ Q&I' TOTAL EXPENSES , INTERFUND TRANSFERS INTERFUNO TRANSFERS IN other At1ltIorized Interfund Transfers In % I (altotal, INTERFUNDTRANSFERS IN 0.0% INTERFUND TRANSFERS OUT other Authorized Interlund Transfers Out 7619 O~OO 0.0% i (01 TOTAL, INTERFUNDTRANSFERS OuT 0.0% OTHER SOURCESJUSES SOURCES Other Sources Transfers from Funds of Lapsed/Reorganized LEAs % 'c1total, SOURCES 0.0% USES Transfers of Funds from LapsedlReorganized LEAs % (dl TOTAL. USES "00 (WD ~~ f "", CONTRIBUTIONS Contributions from Unrestricted Revenues B God d.," Contributions from Restricted Revenues I (eltotal.controeutions......!l!!q "'----~ ' -,_.Q,OO 0.0. TOTAL. OTHER FINANCING SOURCESJUSES (a-b+c-d+e) 0,00

203 ~ -"'-,.~-,------_. 2012~13 first Interim Fremont Union High Retiree Benefit Fund Santa Clara County Revenues, Expenses and Changes in Net Assets Form 711 %Diff Board Approve<! Projected Year Difference Column Original Budget Operating Budget Actual!.; To Da(e Teta. (CoIB&D) 0&0 DeScfi ion Resource Codes Ob ectcodes 0 A. REVENUES 1) Revenue Limit Sources 801"""'" 2} Federal Revenue 810(} ) Other state ReVenue ) OtherlOcaI Revenue 800D-a , ~53 1,017,942,00 5 TOTAL REVENUES 942-( B.EXPENSES 1} CertffiGated Salaries 100(}.,1999 2) Classified Salaries ) Employee Benefits ) Books and Supplies )Servicesand biheroperatin9 Expenses ) Depreciation } Other Outgo (excluding Transfers of Indirect 710(}.,7299, """') ) Other Outgo - Transfers of Indirect Costs TOTAL EXPENSES C. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES BEFORE OTHER FINANCING SOURCES AND USES A5-B D. OTHER FINANCING SQURCESIUSES 1} Interfund Transfers a) TransfefS In ,00 b) Transfers Out 760(}., : 2} Other SoufCeslUses a} Sources 893D-a % b) Uses QJ~) Q-QQ- 3) Contributions _ Q:.O.Q.. --_QJlQ.MO Jl,y" 4 TOTAL OTHER FINANCING SOURCEs/USES 0.0 -=,~=,=-=-' California Depl of.education

204 ~ Fremont Union High Santa Clara County 2012-t3 Firstlnterim Retiree Benefit Fund Revenues; ExpenSes and Changes in Net Assets S FOrm 711 %Drtf BoanfApproved Projected Year Column Origin~i~udget operati~n)budget Actual~cToDate Totals (~':.!~';) BI~ID ~on Resource Codes Obiect Codes 0 E. NET INCREASE (DECREASE) IN I ~...li'.25ffi9j1( :!;_Q41 F. NET POSmON 1) Beginning Net PositiOn a) As of July 1 - Unaudited ,137; % b) Audil AdjuStments _ ' c) As ofjuly 1 - Audited (Fla + F1b) 6,137, , ,137, d) Other Restatements "' e) Adjusted Beginning Net Position (F1c + F1d) 6 137,065,,4; ,065A3 6,137, ) Ending Net Position, June 3O{E +F1e) 6137,065", , ,137,065.43, Component5 of Ending Net Position a) Net investment in Capital AsSets ,00 b) Restricted Net PoslIion 9797 cl Unrestricted Netposition ,.< ~~~-~~=~ :alilo"";a Depl of Education >ACS Financial Reoorti"",s.:.ttw-.. _ 71>'7 7 n

205 FremontUnion High Santa Clara County 2012~13 First Interim Retiree Benefit Fund Revenues, Expenses and Changes in Net Assets Form 711 DescriDtion ResOurce Codes Obiect Codes Ori9i~A~Ud9et BoardAPproved operati~3\budget Projected Year T~~1s %Diff Column BI~t OTHER LOCAl REVENUE IntereSt , , % Net Increase (Decrease) in the FairValue of Investments % Fees and Contracts In-District Premiums/Contributions , , :0% OtherLoCal Revenue All Other Local Revenue % TOTAl, OTHER LOCAL REVENUE 1 017, ,017, , "' TOTAL REVENUES SERVICES AND OTHER OPERATJNG EXPENSES Subagreements for Services :00 0.0% ProfessionalfConsulting Services and Operating ExpenditureS ,017, ,017, , ,017,942:00 0.0% TOTAl, SERVICES AND OTHER OPERATING EXPENSES 1, ,017,942:00 32,946;53 1,017, C.D% TOTAL EXPENSES INTERFUND TRANSFERS lnterfundtransfers IN Other Authoiized Interfund Transfers In 8919 OM OM ODO 0.0% -i~jotal, INT ~ YND<C!T"RAo"N"S"FE,R,S'C'1IN,- ~_~_~~ ~+ O"."0 "+ -' 0. ' '+ 0.0% OTHER SOURCESlUSE5 SOURCES Otller Sources Tra..slers from Funds oflapsedlreorganized LEAs AI! Other FinanCing Source:; ~T~_,SOURCES USES 8965 O.DO 0;00 0.0% :00 0.0% ' 0.0% Transfers of Funds from Lapsed/Reorganized LEAs All Other Financing Uses I {dltotal,uses % % P.oQ!L ~ ",Ji,c2Q --, ,- JLQ~ ~. -..Qm. ~. ---.QR~ 0.0% ,,--.. ~~ CONTRIBUTlO.NS Contributions from Unrestricted Revenues 8980 _~_M!t...JO"'O'!!O+- "'O."'00't- ~.'10"00"t ~~,&Q.r_-~ Contributions from Restricted Revenues 8990 f---~... ~...JO",.OO"'-f~~~~~......~O'LO"'0't----- O'".OO"''l- -_SCO,'!'L OO.._~O::i&._~ 'e\total, CONTRIBUTioNS TOTAL, OTHER FINANCING SOURCES/USES (a+c-d+e) Gali.fornia Dept of Ed"""tion

206 Fremont Union High Santa Clara County First Interim 2012~131NTERrM REPORT AVERAGE DAILY ATIENDANCE Fomi AI Descri tion ELEMENTARY 1. General Education 2. S~ial Education HIGHSCHOOL ESTIMATED ESTIMATED ESTIMATED REVENUE LIMIT ADA ESTIMATED REVENUE limitada PERCENTAGE REVENUE LIMIT ADA Board Approved P~2 REPORT ADA Projected DIFFERENCE DIFFERENCE Original Budget Operating Budget Projected! Year Totals VeatToials (Col. D B) (Col. E/B) ~._. ~".J L D E JEt 0:00 O~OO 0% 0% 3. General Education 4. Special Education COUNTY SUPPLEMENT 9, , , , % % 5. County Community Schools 6. Special Education 7. TOTAL K-12ADA 0% % % 8. ADA for Necessary Small Schools also iricluded in lines Concurrently Enrolled Secondary Students" 11. Adults Enrolled, State Apportioned" 12. Independent StUdy- (Students 21 years or older and students 19 years or older and not Continuously enrolled since their 18th birthday)" 13. TOTAL CLASSES FOR ADULTS i 14. Adults in Correctional Facilities 0% 15. ADA TOTALS Sum of lines & 14 SUPPLEMENTAl INSTRUCTIONAL HOURS 16. Elementary" 17. High School 18. TOTAL SUPPLEMENTAL HOURS alifomia Dept of Education A.CS Fjn~ri.~al ~~~~i~ ~ftware

207 Fremtlnl: Union High Santa Clara County First Interim 2012~13INTERIfv1 REPORT AVERAGE DAlLY ATTENDANCE Fonn Al ESTIMATED ESTIMATED REVENUE LIMIT ADA ESTIMATED REVENUE LIMIT ADA Board Approved P-2 REPORT ADA Origillal BUdget Operating Budget Projected Year Totals ~~~~u~~day SCHOO:CL:;S-'''Ad"'"'d';; ti;:o-:ria'''''f''u..!ne,d"s~~e!~ ~-4~~ 1EB:L_~+~",~L~~~, ESTIMATED REVENUE LIMIT ADA Projected Year Totals ~~~~1QL~~~ DIFFERENCE (Co,. P - Bl~~~L PERCENTAGE DIFFERENCE (CO';i,.'_B_l_ ELEMENTARY a. 5th & 6th Hour (ADA)- Mandatory Expelled Pupils only b. 7th & 8th Hour Pupil Hours (Hours)" 0"/0 20. HIGH SCHOOL a. 5th& 5th Hour (ADA) - Mandatory Expelled Pupils only '1!!!!.!);lt!~1l:_.1I111l1l1l10il 00".1I IOO.IlIlIlIlIl.0il OilO.IIIlIlIlIlIilOi ii00.1l1l1l1l1l I111l1l1l1l10o~yO b..7th &_8th ~!jours Hours" CHARTER SCHOOLS 21. Charter ADA funded thrutheblock Grant a. Chart.ers Sponsored by Unified Districts, Resident (Ee 47660) (applicable only for unified districts with Charter School General Purpose BlockGrant Offset recorded on ~ne 30 inform RLI) b. All Other Block GrantFunded Charters O~OO 22. Charter ADA funded thm the I Revenue Limit 0% O~OO 0% 0%,23. TOTAL, CHARTER SCHOOLS ADA (sum lines 2h:l, 21 b, and 22) 24. SUPPLEMENTAL INSTRUCTIONAL HOURS' ~=======" ~S;t;;:~i;;~;~;:~:~g~::':~PVOLr: PUPIL T~J~FE~R_~ -,,,,,,u ----"= -~-"=_~ ~ "ADA is no longer collected as a res:lm: of flexibility provisions of S8X3 4 (Chapter 12, Statutes of2009), as amended by S8 70 (Chapter 7, Statutes of 2011), currently ineffect from through a6foniia Dept of Education ACS Financial ReDortinci Soffw::lrn _2012_7.0

208 remont Unionl High anta Clara Cqunty Ii First Interim INTERIM REPORT Cashflow Worksheet -_~udgefyear (1) Form CASH ACTUALS\ THROUGH THE MONTH OFI, 'EnterMonth Name): A, BEGINNING CASH B, RECEIPTS Revenue LImit Sources Pri~cipal Apportionment Property Taxes Miscellaneous Funds FederaliRevenue Other State Revenue Other L~cal Revenue Interfund Transfers In All Othe~ Financing Sources TOTAL RECEIPTS C, DISBURSEMENTS Certlfica'ed Salaries Classifie:d Salaries Employe{e Benefits Books a~d Supplies Services] Capital cfutiay Other 04tgo Interfund1 Transfers Out All Otherl Financing Uses TOTAL DISBURSEMENTS D,BALANC}E SHEET TRANSACTIONS Assets i Cash Not In Treasury Account~ Receivable Due From Other Funds Stores 1 Prepaid $xpenditures Other Current Assets SUBTOT~L ASSETS Liabilities i Accounts1 Payable Due To Other Funds Current Lioans, Deferred irevenues SUBTOTAL LIABILITIES NonoperatiMg Suspens~ Clearing TOTAL~ALANCESHEET TRANSACTIONS E, NET INCREASE/DECREASE B C + Ol F, ENDING CASH (A + E T G, ENDING!CASH, PLUS CASH ACCRUALS AND ADJUSTMENTS,, ifqrnia Dept of Education CSFinancial ~eporting Software >: cashi (Rev Q6/06/2012) 8010~ c ~ ~ ~ ~ ~ DA ~ , , , ,066;364,00 45,70 516,25 10,QQP,00Q.OO 7,538,581.00\ 16,776, ,00 16;939, , ; , , ,341,738,OQi. 0, ' 782; , 1,153;305:00 334;650,00 1,042,713:00 2;97 0;00 4,133,230,00 917, ,00 495, ,00 422, Page 1 of2 18, ~411,00 107, , ;00, ;558, ~~ ,687:594.00, 497,037,00 i,092,866.00, 0,00 9,140A15,OO 1,639, ,16 1,165,844,00 7,126.00" 0,00 49, ,919.00' 242,076~00 0,00 0,00 568; ,601,369,00 1,327,840:00 1,776,082.00i 423, ,367,00 18,674;00'), 0,00 9,113,262;00 3,293, , ,00 782, ,469,835,00 18,00 O.OOi 0,00 '2,000,00 300,OOO.00i 0:00 ( ! 1,330,00: 1,780,000,00 20i 592, :00 6,68: 700,903,00 7.$07,79 '8.400,00 '65,500,00 18,000,00 29,000,000,00 0,00 1,500, ,001 1,200,00 0,00' ,000,00 " 1,330,000,00 1,780,OOO,OOi 250,00 1,000,000,00: 36,000,00' 0,00 0,00 0:00 8,996,00 214,00i 2,16 140,000:00 1J106,OOO.00 (50,000,00H ,000,00 500,00i 12 58,00 1,700,00 : 0,00' 16:328, ,200,000,00, 1,800,000,00 300,00: 1,500,OQO.OOi " : 72,00 5,250,000,00 15, ,001 1,000,00: 0:00 3,900,00i 462,00 7,438,00\; '90 0:00 700,00 1,000,00 500,000,00' 0,00 0,00 2,199,100,00 4:600,00 1,330,00' 1;780,000,00 200,000,00 800,00 ' 0,00, 0,00, 8,710,000: r-----:\--=:;:;;=::;-;;;;\----:-;:;-:;:;;:-:d---c;-;:;==:::1--c:-.:===i-----c=+---===::!-----,===::t =-::: , ,895.00, 1.639:054,00 3, , 214,00 1,OOO,OOQ.OOi 0, ~~~:~99 ~ ~ 16,939, ,329;001 (950,00ll 1,605, (8,400,00)1 2,160,00! 8,900,00] (80)l ,00), 339,20 printed: 11/2SI2'0123:24'PM

209 200,000,00' First.lnterim,mont Union High INTERIM REPORT '000 1ta Clara COW/tty Cashflow Worksheet~ BudgetYear (1) Form CASH Ii i ]1 i h II II AqTUALS THROUGH THE MONTH 0! tenter Month A. BEGINNING CASH B. RECEIPTS ~evenue Limit Sources Principal Apportionment Property Taxes! Miscellaneous Funds ffederal.revenue Other State Revenue Other Local Revenue Ihterfund Transfers In ~11 Other Financing Sources TOTAL RECEIPTS C. DISBURSEMENTS Certificated Salaries.lassified Salaries Employee Benefits ~ooks and Supplies Services eapital Outlay <Dther Outgo Irterfund Transfers Out 4n Other Financing Uses TOTAL DISBURSEMENTS D. ~ALANCE SHEET TRANSACTIONS Assets Gash Not In Treasury Accounts Receivable Due From Other Funds ~tores R,repaid Expenditures q>ther Current Assets ~UBTOTAL ASSETS Liabilities Accounts Payable Que To Other Funds Ourrent Loans Oeferred Revenues ~UaTOTAL LIABILITIES Nonoperating ~uspense Clearing ~OTALBALANCESHEET TRANSACTIONS E. ~ET INCREASE/DECREASE (B C+ D F. ENDING CASH (A + E G. ENDING CASH, PLUS CASH ACtRUALS AND ADJUSTMENTS (4,40) ,0011 {23;855;OO,! (145, '145,439, *8079 8;000,000:00 18,000,00, 5.000,00 7,650,937,00 i 81,650, ,650, , ,000,00: 83,577,00 ~ 853,577,00" 853, ,000,001 27,000,00 O.OO! 47,396,00 1 2,843, ,843,594, ,00 500,00 0;00 206,637,00 1,707,164,00 1,707, ;000,00 (600,00 I 200,000:00! 5,578,767,00 10,751, ,751,635.00! O,OOi 700,000:00 322, ,022,931.00! 1,022,931.0W 8930~ ,00' O.OO! 9,200,000,00 17,922,600:001 6,168, ,866,39, 0,00, 98,684,399,001 98,684,399,OQj! ,600,001 4,600,001 4,600,000,001 4,116,761 47,330,041,00! 47;330,041.00! ,330,00 1,330,000,00i 1,330000,00 2; ,397,672,00'1 15,397,672,00'; ,780,000: ,780,00 1,780,000,00! 2,402,480, ,825,00If 20,565,825, ,000:OO~ 1 94,00 5,529,000,00: 3,000, ,273,796,OO~1 11,273,796,00, ,000,00 600,00 700,000,00 1,829,000,00, '1,000,355:00' 12,576, , ,00 50,000,00 197,297,00, 267, ;593, ,00 (176,599,00 I; ( ,00, '154,919, ,300,000,00, 600,000;00 2,119,4()4,00 : 790,551,00' 790;551,00 i ,001 0:00.. I 9,!?!?, 8,810, ,000,00! 9.260,000,00i 18, , ,001 0,00 i 108,047, v,vu ,00 0:00, 400,000,00) 23,443,257, ,., "" ,00 400,00 0, I 1,000,001 1,700,001 (18,5011 (12,300,OOO.oO)~ I I <:l,0tl0,4tis.uu 9610 I f","" 9640 o~oo 15,090,000, ,00 1,700,00 18; ,00 0;00 O.OOl , , , (42,30 423,80 1,012, ,289,00 O.qo 0,00;1 Fornla Dept of Education ;SFinancial R~portJng Software ~ 2012,2.0. cashi (Rev O~/06/2012) Page Printed; 11/28/20123:24 PM

210 FremontUnion High Santa Clara County First Interim General Fund Multiyear projections Urirestricted '" Form MYPI (Enter pmjecrimls fnr subsequent years I and 2 in Co1tunns C and E: current year - Column A., is cxtmc!:ed exceplline Ali) A. REVEN1JES AND {YfHER FrNANClNG SOURCES 1. Revenue Limit Sources 801Q a. Ba&: Revenue Limit per ADA (hjl111 RU, line 4, ID 0024} b. AB 8Sl Add-on (Meals, InS., Special Adj,) (Form RLl, line 5b, m0719) c. Revenue limit ADA (Form RU, lille Sc, In 0033) d. Total Base Revenue Limit (fline Ala ph" Alb) times Ak) (ill 0034, 0724) e. Other Revenue Limit (form RLl, lines 6 thru 14) f. Total Revenue Limit Subject to Deficit (Sum lines Aid plus Ale, ill 0082) g. Deficit factor (Form Rll, line Hi) h. Deficited Revenue I"imit (Line A I f times line Alg) (ill 0284) i PIll": Other Adjustments (e.g., bask aid, ch<lrtet schools objec1 8015, FOOt year adju."tmenis objects 8019 and 8099) j. Revenue Limit Tmnsfers (Objects 8091 and 8(97) Ie. Other Adjustments (Form RLI, lines 18 tbm20 and line 41) I. Total Revenue Limit Sources (Sum lines Alb thro Alk) (Must t'qoolline AI) 2. Federal Revenues 3. O1:her State Revenues 4. Other Local Revenues 5. Other Financing Sowces a. Transfers II! b. Otber Sources c. ColltributiolL<; 6. Tota](,:;.m_lines All thrn A5 B. EX)'ENDlTURES AND OTHER FINANCING USES 1. Certificated Salaries a. &se Salaries b. Step &. Column AdjUstment c. C(l~1-of~Living Adjustment d. Other Adju;:nnents e. TotEl Certificated Salaries (Sum lines Blathrn BId) 2. Classified Salaries a. Base Salaries b. Step &. Column Adjustment c. Cost-ot:Uving Adjustment d. Other Adjustments e. Total Classified Salaries (Sum lines B2a tbm B2d) 3. Employee Benefits 4. Books and Supplies 5. Services ami Other Operating Expenditures 6. Capital Outlay 7. Other Outgo (excluding Transfers ofindirect Costs) 8. Other Outgo~Transfers ofindirect Costs 9. Otherf"inancingUses a. TrdIlSfeE Oui b. Other Uses 10. Other Adjustments (Explain insection F below) 11. Total~JinesBI thrnblo C. NET INCREASE (DECREASE) IN FUND BALANCE Line A6 minus line Bl1 D. FUND BALANCE I. Net Beginning Fund Balance (Form Oil, line FIe) 2. Ending Fund Balance (Sum lines C and OI) 3. Components ofending Fund Balance (Fonn 01 I) a. Nonspendable b. Restricted c.conunitted 1. Stabilization Arrangements 2. Other'COllimitments d. Assigned e. llnassignedlunappropriated l. Reserve fur Economic Uncertainties 2. Unassigned!Unappropriated f. Total Components ofending Fund Balance ined3fmusta ewith line D2) ~ ProjectedYear Totals (Fonn.OII) A ~,@, ,'',Q.,5S'% 9,922, Jl.:.?1% -?~J79, ~}5,49~, "".Q.8~1~%"t_~~15~,6~1~9~9~5~L~00"_t--,---J.61%_-.-!.?,,&70, _-L,?1.(~~99I.E. ~~,"-Q9"J., _~?, ~ 2:QO% 8.,247, _.'.5",,8,,38>0',7"2"'4"'.O"O ,14 Projection (C' % Change (Col.<;. E-ClC) <D Projection IE S?76, o.no (16,895, ~~M1JI ,463, ?91,946.oo 354, , , ; "2".O"'''''"'Y0'l--_'''5,,,95,,5,,,4"'98~.O'''O+----'''2.,,00":%""1--",6"g74,608.oo j-- ~2~O.~00~O~,00"'i~_~~O~.00""'%'t--_20,OOO.00 % 20, , ,44 0~"y.>;'I -,1",5,,,44,,O,,,00"'-l -,0,,,.O""""'Y''I--~_,,,15,,,44,,,,,0.,,00''-l ,001, % 1,080,'t'"4""O"'04-_~ 'c:.4,,3,,%"j0_-"1""09"5",8,,,64,,,,,.0,,0~ "10 O.OOfV~ % O.()()% 790, ,00 5, ,315,00 5,300, Ca~fomia Dept of Education ~ACS Financial~eJl0rtingSoftware

211 ~Fremont Union High Santa Clara County 2012~13 FirSt Intefim GeneralFund Multiyear Projections Unrestficted FormMYPI Dese' tion E. AVAII..ABlE RESERVES Object COdes Projected Year Totals (FormOII) A % Chm>g< (Cob. C-AJA) Projection C % Change (Cols. E C/C) Projection 1. General Fund a. Stabilization Arrangements b. Reserve forf.conomic Uncertainties c. Unassigned/lillappropriated (Enter other reserve projections in Columns C and E for subsequent years I and 2;citirent year - Column A isextrncted) 2, Special R~e Fund ~ Noncapital OutLiy(Fund T7) a: StabiliZation Arrangements b. Rescrve for Economic Uncertainties c. Unassignedl{Jnappropriated 3. Tot~Lt~iJable Res~,,. Stirn lines EIa thrue2c ,300,00 -" 5.300,00 0: F. ASSUMPTIONS Ple8seprovidebelow or on a separate attachment, l:heassumptions usedto determine the pt(~ectiolls for the f.lrst and second subsequent fisqll years. Further, please inc1udean explanationf{)r any significant expenditure adjustnients pt\.ljected in lines BId, B2d, ami B10. Foradditional infol1lll!tion, please refer to the Budget Assumptions section ofthe SACS Financial Reporting Softwart User Guide. Projectincrease 4.0Fn: due to enrollment inttease in California Dept of Education SACS Financial Reporting Software

212 Fremont Union High Santa Clara County Firsflnterim Genera] FUM Multiyear Projections Restricted i' Forni MYPI Projected Year % % Totals Change Change ~D",=n"",,, "tio"n,-_~~~~"~_,_~~ ObjeCt (Fonn Oil) (CoIs. C-AJA) Projection (Cols. E-C1C) Projection ~~_~~.>COO"' "'~"~ ~~-''la'-~4~_-",b,-~~...c~~~l--...l.~~~l--~e~_4 (Enterprojections for subsequent yt<l.rs I and 2 in CoIUlIUlS C and E; current year- Column A is extracted) A. REVENUES AND OTHER HNANCING SOURCES I. Revenue Limit Sources 2, FederalRevenues 3_ Other State Revenues 4. Other b;cal Revenues 5_ Other Financing Spurces a. Transfer;; In b: Other Sources c. C{lntributions 6..Tot.!!!{fu!!n lines Al!hru=A,,5)~._~~~_~ ~~~ B. EXPENDITURES AND OTHER FINANCING USES l. Certificated Salaries a. Base Salaries b. Step & Column Adjustment c. Cost-of-LivingAdjustment d OtherAdjustments e. Total Certificated Salaries (Sum lines Bla thru BId) 2. Classified Salaries a. Base Salaries b. Step & Column Adjustment c. Cost--(lf-Living Adjustment d Other Adjustments e. Total Classified Salaries (Sum lines B2a tbru B2d) 3. Employee Benefits 4. Books and Supplies 5. Services and Other Operating Expenditures 6. Capital Outlay 7. Other Outgo (excluding Transfers ofindirect COsts) 8, Other Outgo - Transfers ofindired Costs 9. Other Financing Uses a. Transfers Out b. Other Uses 10. OtherAdjustments (Explain in Section F below) 11. Total SumlinesBI thmbio C. NET JNCREASE (DECREASE) IN FUND BAIANCE Line A6 minus line Bll D. FUND BALANCE 1. Net Beginning Fund Balance (Fonn01I, line FIe) 2. Ending Fund Balance (Sum lines C and 01) 3. Components ofending Fund Balance (Fonn 011) a. Nonspendable b. Restricted c. Committed 1. Stabilization Arrangements 2. Other Commitments d. Assigned e. UnassignedlUnappropriated 1. Reserve for Economic Uncertainties 2. UnassignedfUnapproprlated f. Total Components ofending Fund Balance Line D3fmust a e with line D , (} $979 89&Oc , "/0 5,570, , % 6,044, ,448, % 2,911, , % 5,653, , % 200,00 7l()()"7299, , O.()()tilo 18, , % 888, % {) , I % % % "1n % 1.44% % % ~,_g,_~q_oo 1_3~,n_LOO 8;719, , , ,603, ,123, ,322, ,632, ,00 18, , ,893, , , CalifOrnia Dept of Education ~ACS Financial Reporting Software ~

213 ",Cremont Union High Santa Clara County 2012~13First Interim General Fund MultiyearProjections Restricted '00000 FormMVPI Object Oescri tion COdes E. AVAllABLERESERVES I. General Fund a. 5mbllization Arnmgements b. Reserve for EConomic Uncertainties c. ljnassignoolunappropriated Amount (Enter currem year resen'e projections incolumn A, and other reserve projectiod.s in Coll.lmllS C and E for subsequent years I and 2) 2. SpedalReserve Fund,. Noncapital Outlay (Fund 17) a. Slabilh-.J.tionAmmgements b. Reserve for Economic UnCertainties c. UllilssignedJUnapproprllited 3. Total Available Reserves (Sum Imes,E",.,~thru.",E"2",,- ~ & ~ r~ass[imptions - ==-~~~- Projected Year Totals (Fonn OIT) A % Cfumge (Cols.C-AJA) B Projection "0 % Chango (Cols. E>.C!C) Pmjixtion (. Please provide below or on Ii separate :illtachinent, the assumptions used to determine the projeetioll~ for the first and second subsequent fiscal years, Further, please include an explanation forany sigiiifiesnt expenditure adjustments prqjeded in lines BId, Ind, and BlO. For additional infonnation,please refertd the Budget Asswnptmns section ofthe SACS financial Reporting Software Usee Guide. California Dept of Education SACS Financial Reool1ina Softwam _2017..'.0

214 FremontUnion High Santa Clara County 2012~13 First Interim General Fund Multiyear Projections Unrestricted/Restricted ; Form MYPI Projected Year % ToWs Change Object (Fonn 011) (Cols.C-AiA) Projection % Change (Cols. E.QC) Projection ~~~; P~;;I-i~;;;~ fo~ sut;~q;;;~t;,~7;;';t;;d2'in0~c~o~j""""=~~c~","~'"'"e~; ~_~~C~OO~~'~''-~+ _...J~A~ ~~-,~B!l-~~I-_...!~Ck_-l'-~J"b +~_.le.l_-1 currellt year ~ Column A is extracted) A, REVENUES AND OTHER HNAN(]NG SOURCES I Revenue Lilllit Sm,lKeS 1_ Federal Revenues 3 Otht:r State Rev"nues 4. Other Local Rtvenue~ 5. Othe, Financing SoUrces a Trunsfers In b. Otber Sources c. COIJl:ributions ; Totti] (Sum lilles A),th u ASJ B. EXPEND!TURES AND OTHER FlNANCING USES I. Certificated Salaries a. Base Salaries b. Step & Colunm Adjustment c. Cost-of-Living Adjustment d. OtherAdjustments e. Total Certificated Salaries (Sum lines Bla thru BId) 2. Classified Salaries a. Base SalarieS b. Step & Column Adjustment c. Cost-of-Living Adjustment d. Other Adjustments e. Total Classified Salaries (Sum lines B2a thru B2d) 3. Employee Benefits 4. Books and Supplies 5. Services and Other Openrting Expenditures 6. Capital Outlay 7. Other Outgo (excluding Transfers ofindirect Costs) 8. Other Outgo ~ Transfers ofindiri:ct Costs 9. OtherFinancing Uses a. Transfers Out b. Other Uses 10. Other AdjuStments I_I. Total Sum lines B1 thru B10 C. NET INCREASE (DECREASE) IN FUND BALANCE (Line A6 minus line B II D. FUND BALANCE I. Net BeginningFund Balance (Fonn OIl, line Fie) 2. Ending Fund Balance (Sum lines C and Dl) 3. Components ofending Fund Balance (Fonn 011) a. Nonspendable b. Restricted c. Committed 1. Stabilization Arrangements 2. Other Commitments d. Assigned e. UnassignedlUnappropriated 1. Reserve for Economic Uncertainties 2. UnassignedlUnappropriated f. Total Components ofending Fund Balance Line D3eF must a e with line D2 8010: ~ ~ :3~S ~ ,...?2359,OTh,QQ 2,843, ,48(),252,OO ~ lo,977,555}1i) IS,'!Q,?282.OO 2.80% -4.00~ 15.33% 1.09% ,568, % I,:'!]5, ~2Yo ,916, % , ~17.79% , % ,0~ " , " O~OO 84,661, r ~~O% 87,116,354_00 2,729, % 2,620, ,707, "4- -!2QZ,~,.:t:.OO 11,097,30Z:~_ Q.OO% _~J_I,.92ZJ07_00 "4 -ll+.fi:.l~~~/jo % ~ ~ ~q",qo% 0,00";" % ~OO. 48,0462.±!OO 727,657.:92._ ,128, ,492, , O~OO 15,583, ,994, ,56:::' ,706, ,00 33, , , O~OO ,208, , ,00 2,762, O~OO 5,300,00 34, Califomia Dept of Education ~CS Fj~~~daf_~~p~ngSoftware ~

215 ,Fremont Union High Sarita Clara COunty Fh'stlmerim Gerieral Fphd Multiyear Projections UnrestrictedJRestricted FonnMVPj DeSt' tion E.AVAILABLE RESERVES (Unrestricted except as noted) 1. General fund a. Stabilization AiI'aIll,,<C.mcnts b. Reserve for Ecoriomic Uncertainties c. tj'jmssignedlljriappropriated d. Negative Restricted Ending Balances (Negative resources ) (Enter projections) 2. Special Reserve Fuud c Noncapital Outlay (Fund 17) a~st:lhijiz:atj()n Arrangements b, Reserve for Economic Uncertainties c. UnassignedltJriapproprllited 3. TotlJ Available Reserves - by Amount (Sum lines El thru Elb) 4. Total.o'1~~!ili!QkB,(':seITi:s_~ bv..!,:ercent ine 3 dividedb Line F3c F. RECOMMENDED RESERVES 1. Special Education Pass"through Exclusions Object COO" Projected Year Totals (FonnOll) A % Change (Cols. C>NA) 2013~14 Projection % Changt (Cols. E C!C) D' Projection,_...1,,,~90000.oo O 9~ hlj" districts that serve as the administrative unit (AU) ora special educat:ion locai plan area (SELPA): a. DoyonchOose toexdude from the reserve calculation the pass~tbn:.iughflmdsdistributedto SELPA lnemberil? b. Ifyou are the SELPA AU and are excfuding special education pass-through funds: 1. Entettbe name(s)ofthe SELPA(s): 2. Special educationpass-through funds (ColumnA Fund 10, resources.boo-3499and 65(}()..6540, objects 7211~7213 aild ; enterprojections for subsequent years 1 and 2 incolumnsc ande) 2. District ADA Used to deterurlnf: the reserve stimdard percentage level on line F3d (Colunm A: Fonn AI, EstimatedP-2 ADA column, lines 14 and 22; enterprojections) 3. Calculating the Reserves a, Expenditures and Other f'inancing Uses (LineRII) b. PIUs: Special Education Pass-through Funds (Line F1b2, ifline F1a is No) c. Total Expenditures and Other Financing Uses (Line F3a plus line Bbl d. Reserve Standard Percentage Level (Referto Fonn OICS!, Criterion 10 for calculation details) e. Reserve Standard - By percent (Line F3e times F3d) f. Reserve Standard ~ By Amount (Referto Fonn 01CSI, Criterion 10 for calculation details) g. Reserve Standard (Greater ofline Be or F3t) h.availab1ereserves E3 MeetReserveStandard. ef3 YES 10, ,833, , % 3264, s 3 264, California Dept of Education SACS Financial Reoortino SnftlAr.:lrp, -?01??O