8,094 62,686 70,780 70, ,261 55,715 39,619 95,334 1,030,533 1,030,533 1,125,867 23,744 6,178 (865,748) (859,570)

Transcription

1 Statement of Net Position June 30, 2016 ASSETS AND DEFERRED OUTFLOWS Current Assets: Cash and Cash Equivalents Receivables Due from Other Governments Total Current Assets 8,094 62,686 70,780 Total Assets 70,780 Deferred Outflows - Pension Related 219,261 LIABILITIES AND DEFERRED INFLOWS Current Liabilities: Accounts Payable Accrued Liabilities Total Current Liabilities 55,715 39,619 95,334 Noncurrent Liabilities: Net Pension Liability Total Noncurrent Liablllties Total Liabilities 1,030,533 1,030,533 1,125,867 Deferred Inflows - Pension Related 23,744 NET POSITION Restricted Unrestricted (Deficit) Total Net Position 6,178 (865,748) (859,570) Vol. VII - 2

2 Statement of Activities For The Year Ended June 30, 2016 Program Revenues Net (Expenses) Functions/Programs Expenses Operating Capital Charges for Grants and Grants and Service Contributions Contributions Revenues and Changes in Net Position Governmental activities: Instruction 455, ,800 (342,445) Support Services: Students 40,342 (40,342) Instruction 8,298 (8,298) General Administration 27,192 (27,192) School Administration 247,140 (247,140) Central Services 87,133 (87,133) Operation & Maintenance of Plant 144,629 (144,629) Food Services 69,708 49,218 (20,490) Facilities Materials, Supplies & Other Services 59,636 59,636 Total Governmental Activities 1,139, ,018 59,636 (917,669) General Revenues: State Equalization Guarantee Total General Revenues 824, ,503 Change in Net Position (93,166) Net Position (Deficit), Beginning of Year (766,404) Net Position (Deficit), Ending (859,570) Vol. VII - 3

3 Balance Sheets - Governmental Funds June 30, 2016 ASSETS Cash and Cash Equivalents Accounts Receivable Due from Government Due from Other Funds Total Assets Instructional Food Operational Materials Services ,469 6,625 46,776 5,820 46,776 1,469 12,445 Title I IASA ,570 7,570 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Expenditures Due to Other Funds Total Liabilities 47,979 7,736 29,529 77,508 7,736 7,570 7,570 Fund Balances (Deficit) Fund Balance: Restricted for: Instruction Food Service Operations Unassigned (Deficit) Total Fund Balance (Deficit) Total Liabilities and Fund Balances 1,469 4,709 (30,732) (30,732) 1,469 4,709 46,776 1,469 12,445 7,570 Vol. VII - 4

4 Teacher Teacher & Teacher & IDEA-B IDEA-B Principal 2012 SB-66 School Leader School Leader Entitlement Risk Pool Training Student Library Incentive Pay Incentive Pay Group ,308 26,464 12,435 1,308 26,464 12,435 1,308 1,308 6,859 19,605 26,464 3,231 9,204 12,435 1,308 26,464 12,435 Vol. VII - 5

5 Balance Sheets - Governmental Funds - (Continued) June 30, 2016 Public School Capital Outlay ASSETS Cash and Cash Equivalents Accounts Receivable Due from Government 14,909 Due from Other Funds Total Assets 14,909 SB-9 Capital Improvements Total 8,094 62,686 52, ,376 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Accrued Expenditures Due to Other Funds 14,909 Total Liabilities 14,909 55,715 39,619 52, ,930 Fund Balances {Deficit) Fund Balance: Restricted for: Instruction Food Service Operations Unassigned (Deficit) Total Fund Balance (Deficit) Total Liabilities and Fund Balances (Deficit) 14,909 1,469 4,709 (30,732) (24,554) 123,376 Vol. VII - 6

6 Reconciliation of the Balance Sheets of Governmental Funds to the Statement of Net Position June 30, 2016 Fund Balance (Deficit) - Total Governmental Funds (24,554) Amounts reported for governmental activities in the Statement of Net Position are different because: Defined benefit pension plan deferred outflows are not financial resources and, therefore, are not reported in the funds. 219,261 Long-term liabilities are not due in the current period and, therefore, are not reported in the funds. Net Pension Liability (1,030,533) The net pension liability is not due and payable in the current period and, therefore, is not reported in the funds (23,744) Net Position (Deficit) - Total Governmental Activities (859,570) Vol. VII - 7

7 Statement of Revenues, Expenditures, and Changes In Fund Balances (Deficit) Governmental Funds For The Year Ended June 30, 2016 REVENUES Operational Instructional Materials Local & County Grant 400 State Grant 824,503 5,623 Federal Grant Charges for Services 24 Total Revenues 824,927 5,623 Food Services ,218 49,218 Title I IASA ,988 40,988 EXPENDITURES Current: Instruction 320,969 5,249 Support Services: Students 41,670 Instruction 5,055 General Administration 27,192 School Administration 217,791 Central Services 87,133 Operation & Maintenance of Plant 142,144 Food Services Operations 27,118 Capital Outlay Total Expenditures 869,072 5,249 40,528 40,528 40,988 40,988 Net Changes in Fund Balances (44,145) 374 Fund Balances(Deficit) - Beginning of Year 13,413 1,095 Fund Balances (Deficit) - End of Year (30,732) 1,469 8,690 (3,981) 4,709 Vol. VII - 8

8 Teacher Teacher & Teacher & IDEA-B IDEA-B Principal 2012 SB-66 School Leader School Leader Entitlement Risk Pool Training Student Library Incentive Pay Incentive Pay Group , ,308 3,243 26,464 12,435 22, ,308 3,243 26,464 12,435 22, ,523 9,964 3,243 1,308 4,941 2,471 22, ,308 3,243 26,464 12,435 Vol. VII - 9

9 Statement of Revenues, Expenditures, and Changes In Fund Balances (Deficit) - (Continued) Governmental Funds For The Year Ended June 30, 2016 REVENUES Local & County Grant State Grant Federal Grant Charges for Services Total Revenues Public School Capital Outlay ,636 59,636 SB-9 Capital Improvements Total , , ,046,181 EXPENDITURES Current: Instruction Support Services: Students Instruction General Administration School Administration Central Services Operation & Maintenance of Plant Food Services Operations Capital Outlay Total Expenditures 59,636 59, ,032 41,670 8,298 27, ,511 87, ,144 67,646 59,636 1,081,262 Net Changes in Fund Balances (35,081) Fund Balances(Deficit) - Beginning of Year Fund Balances (Deficit) - End of Year 10,527 (24,554) Vol. VII - 10

10 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances (Deficit) of Governmental Funds to the Statement of Activities For the Year Ended June 30, 2016 Net Change in Fund Balances-Total Governmental Funds (35,081) Amounts reported for governmental activities in the Statement of Activities are different because: Changes in deferred outflows of resources - pension related, deferred inflows of resources - pension related, and the net pension liability Change in Net Position-Total Governmental Activities (58,085) (93,166) Vol. VII - 11

11 Statement of Fiduciary Assets and Liabilities- Agency Funds June 30, 2016 ASSETS Cash in Bank Total Assets Agency Funds 2,014 2,014 LIABILITIES Deposits Held for Others Total Liabilities 2,014 2,014 Vol. VII - 12

12 Schedule of Changes in Assets and Liabilities - Agency Funds For The Year Ended June 30, 2016 Balance July 1, 2015 Additions ASSETS Cash in Bank 1,416 2,062 Total Assets 1,416 2,062 Balance Deductions June 30, ,464 2,014 1,464 2,014 LIABILITIES Deposits Held for Others 1,416 2,062 Total Liabilities 1,416 2,062 1,464 2,014 1,464 2,014 Vol. VII - 13

13 Notes to the Financial Statements June 30, 2016 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Pensions. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expenses, information about the Fiduciary Net Position of the New Mexico Educational Retirement Board (ERB) and additions to/deductions from ERB's Fiduciary Net Position have been determined on the economic resources measurement focus and accrual basis of accounting. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. NOTE 2. COMMITMENTS AND LIABILITIES Charter School leased equipment and facilities under longterm cancelable operating leases. Rental expense for the year ended June 30, 2016 was 69,067. Charter School's minimum future payments on this lease are as follows: Year Ending June 30: 2017 Total 70,000 70,000 NOTE 3. DEFICIT FUND BALANCE The following fund had a deficit fund balance at June 30, 2016: Operational ,732 Charter School is addressing the negative fund balance and is planning on taking the appropriate actions to eliminate the negative balance. NOTE 4. RELATED PARTY TRANSACTIONS The business manager services are performed by the Vigil Group, which performed services for multiple state charter schools. Vol. VII - 14

14 Notes to the Financial Statements June 30, 2016 NOTE 5. PENSION PLAN - EDUCATIONAL RETIREMENT BOARD The information contained within this disclosure represents the pension information specific to and does not include general disclosure information pertaining to the New Mexico Educational Employees' Retirement Plan. General disclosure information including plan description, benefits provided, applicable actuarial assumptions, and location for additional information about the New Mexico Educational Retirement Boards fiduciary net position can be found within the basic financial statements of the Public Education Department. Contributions. The contribution requirements of defined benefit plan members and La Resolana Leadership Academy are established in state statute under Section , NMSA The requirements may be amended by acts of the legislature. For fiscal years ended June 30, 2015 and 2016, employers contributed 13.90% of employees' gross annual salary to the Plan. Employees earning 20,000 or less contributed 7.90% and employees earning more than 20,000 contributed 10.70% of their gross annual salary. Contributions to the pension plan were 69,134 for the year ended June 30, Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions: The net pension liability was measured as of June 30, 2015, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. At June 30, 2016, reported a liability of 1,030,523 for its proportionate share of the net pension liability. The proportionate share of the net pension liability is based on the employer contributing entity's percentage of total employer contributions for the fiscal year ended June 30, The contribution amounts were defined by Section , NMSA At June 30, 2015, La Resolana Leadership Academy's proportion was percent, which was an increase of percent from its proportion measured as of June 30, For the year ended June 30, 2016, recognized pension expense of 127,211. At the June 30, 2015, reported deferred outflows of resources and deferred inflows or resources related to pensions from the following sources: Vol. VII - 15

15 Notes to the Financial Statements June 30, 2016 NOTE 5. PENSION PLAN - EDUCATIONAL RETIREMENT BOARD {CONTINUED} Differences between expected and actual experience Deferred Outflows of Resources Deferred Inflows of Resources <19,105> Changes in assumptions 35,446 Net difference between projected and actual earnings on pension plan investments <4,639> Changes in proportion and differences between La Resolana Leadership Academy contributions and proportionate share of contributions 114,681 contributions subsequent to the measurement date 69,134 Total 219,261 <23,744> Deferred outflows of resources of 69,134 resulted from contributions made subsequent to the June 30, 2015 measurement date and will be recognized as a reduction of the net pension liability in the fiscal year ended June 30, Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year ended June 30: 2017 <46,388> 2018 <43,749> 2019 <21,936> 2020 <14,310> Total <126,383> Vol. VII - 16

16 Notes to the Financial Statements June 30, 2016 NOTE 5. PENSION PLAN - EDUCATIONAL RETIREMENT BOARD (CONTINUED} Sensitivity of 's proportionate share of the net pension liability to changes in the discount rate. The following presents the net pension liability calculated using the discount rate of 7.75%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower {6.75%) or 1-percentage-point higher {8.75%) than the current rate: 1% Decrease (6.75%} Current Discount Rate (7.75%} 1% Increase (8.75%} 's proportionate share of the net pension liability 1,386,651 1,030, ,357 Payables to the pension plan. For the year ended June 30, 2016, La Resolana Leadership Academy School's accrued liability due to ERB was 22,507 for payroll paid in July Vol. VII - 17

17 LA RESOLANA LEADERSHIP ACADEMY SCHEDULE OF THE SCHOOL'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY June 30, 2016 New Mexico Educational Retirement Board Pension Plan Schedule of Ten Year Tracking Data* (Dollars in Thousands) School's Proportion of the Net Pension 0.01% 0.02% 0.00% 0.00% 0.00% 0.00% Liability (Asset) % 0.00% 0.00% 0.00% School's Proportionate Share of Net 829 1,031 Pension Liability (Asset) School's Covered-Employee Payroll School's Proportionate Share of the Net % % 0.00% 0.00% 0.00% 0.00% Pension Liability (Asset) as a Percentage of Its Covered-Employee Payroll 0.00% 0.00% 0.00% 0.00% Plan Fiduciary Net Position as a Percentage 66.54% 63.97% 0.00% 0.00% 0.00% 0.00% of the Total Pension Liability 0.00% 0.00% 0.00% 0.00% *The amounts presented for each fiscal year were determined as of June 30 of the preceding year. Vol. VII - 18

18 LA RESOLANA LEADERSHIP ACADEMY SCHEDULE OF SCHOOL CONTRIBUTIONS June 30, 2016 New Mexico Educational Retirement Board Pension Plan Schedule of Ten Year Tracking Data (Dollars in Thousands) Contractually Required Contribution Contributions in Relation to the Contractually Required Contribution Contribution Deficiency (Excess) ================================================================================ Increase (Decrease) in Pension Expense over Recognition Periods Total Amount Amortization Year Deferred Years (11) 5 s (19) 2015 (126) 5 I (46) (44) (22) (14) (137) 4 (43) (43) (41) (14) Vol. VII - 19

19 Schedule of Budgetary Comparisons - Budgetary Basis Operational For The Vear Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount {Negative) REVENUES Local & County Grant State Grant 822, , ,503 Charges for Services Total Revenues 822, , , EXPENDITURES Current: Instruction 353, , ,894 6,601 Support Services: Students 50,500 38,820 37, Instruction 12,000 3,496 3,496 General Administration 19,000 23,309 23,307 2 School Administration 209, , , Central Services 82,100 72,479 72, Operation & Maintenance of Plant 96, , ,780 13,207 Food Services Operations 28,007 27, Total Expenditures 822, , ,974 21,882 Over (Under) Expenditures {94) (22,329) (47) 22,282 Other Financing Sources {Uses): Designated Cash 94 22,329 (22,329) Total Other Financing Sources {Uses): 94 22,329 {22,329) Net Changes in Fund Balances (47) {47) Cash or Fund Balances - Beginning of Year 28,900 28,900 Cash or Fund Balances - End of Year 28,853 28,853 Reconciliation to GAAP Basis: Over {Under) Expenditures (47) Adjustments to Expenditures (44,098) NET CHANGE IN FUND BALANCE (44,145) Vol. VII - 20

20 Schedule of Budgetary Comparisons - Budgetary Basis Instructional Materials For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES State Grant Total Revenues 4,978 4,932 5,623 4,978 4,932 5, EXPENDITURES Current: Instruction 5,804 6,027 5, Total Expenditures 5,804 6,027 5, Over {Under) Expenditures (826) (1,095) 374 1,469 Other Financing Sources {Uses): Designated Cash 826 1,095 (1,095) Total Other Financing Sources (Uses): 826 1,095 (1,095) Net Changes in Fund Balances Cash or Fund Balances - Beginning of Year 1,095 1,095 Cash or Fund Balances - End of Year 1,469 1,469 Reconciliation to GAAP Basis: Over {Under) Expenditures 374 Adjustments to Revenues Adjustments to Expenditures NET CHANGE IN FUND BALANCE 374 Vol. VII - 21

21 Schedule of Budgetary Comparisons - Budgetary Basis Food Services For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES Federal Grant Total Revenues 45,000 45,000 45,000 45,000 49,218 49,218 4,218 4,218 EXPENDITURES Current: Food Services Operations Total Expenditures 53,102 50,450 53,102 50,450 42,223 42,223 8,227 8,227 Over {Under) Expenditures (8,102) (5,450) 6,995 12,445 Other Financing Sources (Uses): Designated Cash Total Other Financing Sources (Uses): 8,102 5,450 8,102 5,450 (5,450) (5,450) Net Changes in Fund Balances 6,995 6,995 Cash or Fund Balances - Beginning of Year 5,450 5,450 Cash or Fund Balances - End of Year 12,445 12,445 Reconciliation to GAAP Basis: Over (Under) Expenditures Adjustments to Expenditures NET CHANGE IN FUND BALANCE 6,995 1,695 8,690 Vol. VII - 22

22 Schedule of Budgetary Comparisons - Budgetary Basis Title I IASA For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES Federal Grant Total Revenues 26,131 40,988 26,131 40,988 33,418 33,418 (7,570) (7,570) EXPENDITURES Current: Instruction Total Expenditures 26,131 40,988 26,131 40,988 40,988 40,988 Over (Under) Expenditures (7,570) (7,570) Net Changes in Fund Balances (7,570) (7,570) Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year (7,570) (7,570) Reconciliation to GAAP Basis: Over {Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE (7,570) 7,570 Vol. VII - 23

23 Schedule of Budgetary Comparisons - Budgetary Basis IDEA-B Entitlement For The Year Ended June 30, 2016 Budgeted Amounts Original Actual Budget Final Budget Amount Variance Positive (Negative) REVENUES Federal Grant Total Revenues 18,543 22,320 22,320 18,543 22,320 22,320 EXPENDITURES Current: Instruction Total Expenditures Over (Under) Expenditures 18,543 22,320 22,320 18,543 22,320 22,320 Net Changes in Fund Balances Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year Reconciliation to GAAP Basis: Over (Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE Vol. VII - 24

24 Schedule of Budgetary Comparisons - Budgetary Basis IDEA-B Risk Pool For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES Federal Grant Total Revenues EXPENDITURES Current: Instruction Total Expenditures Over {Under) Expenditures Net Changes in Fund Balances Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year Reconciliation to GAAP Basis: Over {Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE 16 (16) Vol. VII - 25

25 Schedule of Budgetary Comparisons - Budgetary Basis Teacher Principal Training For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative} REVENUES Federal Grant Total Revenues 5,431 12,119 5,431 12,119 1,385 1,385 (10,734) (10,734) EXPENDITURES Current: Instruction 5,431 5,431 5,431 Support Services: School Administration 6,688 1,308 5,380 Total expenditures 5,431 12,119 1,308 10,811 Over {Under) Expenditures Net changes in Fund Balances Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year Reconciliation to GAAP Basis: Over {Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE 77 (77) Vol. VII - 26

26 Schedule of Budgetary Comparisons - Budgetary Basis 2012 SB-66 Student Library For The Year Ended June 30, 2016 REVENUES State Grant Total Revenues EXPENDITURES Current: Support Services: Instruction Total Expenditures Over {Under) Expenditures Net Changes in Fund Balances Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year Reconciliation to GAAP Basis: Over {Under) Expenditures Adjustments to Revenues Adjustments to Expenditures NET CHANGE IN FUND BALANCE Budgeted Amounts Original Actual Budget Final Budget Amount 3,243 3,243 3,243 3,243 3,243 3,243 3,243 3,243 3,243 3,243 3,243 3,243 Variance Positive (Negative) Vol. VII - 27

27 Schedule of Budgetary Comparisons - Budgetary Basis Teacher & School Leader Incentive Pay For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES State Grant Total Revenues 32,000 32,000 18,750 18,750 (13,250) (13,250) EXPENDITURES Current: Instruction 24,000 21,523 2,477 Support Services: School Administration 8,000 4,941 3,059 Total Expenditures 32,000 26,464 5,536 Over {Under) Expenditures (7,714) (7,714) Net Changes in Fund Balances (7,714) (7,714) Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year (7,714) (7,714) Reconciliation to GAAP Basis: Excess {Deficiency) of Revenues Over {Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE (7,714) 7,714 Vol. VII - 28

28 Schedule of Budgetary Comparisons - Budgetary Basis Teacher & School Leader Incentive Pay Group For The Year Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES State Grant Total Revenues 16,000 16,000 4,500 4,500 (11,500) (11,500) EXPENDITURES Current: Instruction 12,000 9,964 2,036 Support Services: School Administration 4,000 2,471 1,529 Total Expenditures 16,000 12,435 3,565 Over (Under) Expenditures (7,935) (7,935) Net Changes in Fund Balances (7,935) (7,935) Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year (7,935) (7,935) Reconciliation to GAAP Basis: Over (Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE (7,935) 7,935 Vol. VII - 29

29 Schedule of Budgetary Comparisons - Budgetary Basis Public School Capital Outlay ForTheYearEndedJune3~2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES State Grant Total Revenues 59,636 59,636 58,407 58,407 (1,229) (1,229) EXPENDITURES Current: Capital Outlay 59,636 59,636 Total Expenditures 59,636 59,636 Over {Under) Expenditures (1,229) (1,229) Net Changes in Fund Balances (1,229) (1,229) Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year (1,229) (1,229) Reconciliation to GAAP Basis: Over (Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE (1,229) 1,229 Vol. VII - 30

30 Schedule of Budgetary Comparisons - Budgetary Basis SB-9 Capital Improvements For The Vear Ended June 30, 2016 Budgeted Amounts Variance Original Actual Positive Budget Final Budget Amount (Negative) REVENUES State Grant Total Revenues 1,653 1,653 2,091 2, EXPENDITURES Current: Capital Outlay Total Expenditures 1,653 1,653 1,653 1,653 Over (Under) Expenditures 2,091 2,091 Net Changes in Fund Balances 2,091 2,091 Cash or Fund Balances - Beginning of Year Cash or Fund Balances - End of Year 2,091 2,091 Reconciliation to GAAP Basis: Excess {Deficiency) of Revenues Over {Under) Expenditures Adjustments to Revenues NET CHANGE IN FUND BALANCE 2,091 (2,091) Vol. VII - 31

31 Schedule of Collateral Pledged by Depository for Public Funds June 30, 2016 Name of Depository Security Type CUSIP/ Security Number Maturity Date Fair Value June 30, 2016 N/A N/A N/A N/A Total Cash per Schedule of Cash Accounts: 41,437 Less: FDIC coverage: (41,437) Uninsured Public Funds:..:..._..:..._---'- Collateral Requirement: Pledged Collateral Held by Pledging Financial Institution: Balance Over Collateralized: ='======== Balance Uninsured and Uncollateralized at June 30, 2016: ======= Vol. VII - 32

32 Schedule of Cash Accounts June 30, 2016 Bank Account Type Total Checking - Operational Account Total on Deposit Reconciling Items 41,437 41,437 (31,329) Reconciled Balance June 30, ,108 Less Agency Funds Total Cash (2,014) 8,094 Vol. VII - 33

33 Cash Reconciliation June 30, 2016 Instructional Food Non Instruct. Operational Materials Services Fund Cash, June 30, ,657 1,095 5,450 1,416 Add: revenues 824,927 5,623 49,218 2,062 Total Cash Available 848,584 6,718 54,668 3,478 Less: expenditures (824,974) (5,249) (42,223) (1,464) Receivables/Payables (15,808) Outstanding Loans (7,802) (5,820) Cash June 30, ,469 6,625 2,014 Fund Balance Reconciliations to GAAP Basis: Audit reclassifications to cash Cash Per Books 1,469 6,625 2,014 Fund Balance Reconciliation to GAAP Basis: Modified Accrual Adjustments (30,732) (1,916) (2,014) Fund Balance (Deficit), Modified Accrual Basis (30,732) 1,469 4,709 Vol. VII - 34

34 Federal Projects State Public School SB 9 Capital Account Acccount Capital Outlay Improvements Total 31,618 57,158 26,493 58,407 2,091 1,025,979 57,158 26,493 58,407 2,091 1,057,597 (64,635) (42,142) (59,636) (1,040,323) 8,642 (7,166) 7,477 7,007 1,229 (2,091) 10,108 10,108 Less: Activity Funds Per Schedule of Changes in Assets and Liabilities Agency Fund: (2,014) 8,094 (34,662) (24,554) Balance Sheets Governmental Funds: (24,554) Vol. VII - 35