ST. BERNARD OF CLAIRVAUX CATHOLIC SCHOOL Independent ant s Report on Applying Agreed-Upon Procedures For the Period from July 1, 2013 to June 30, 2014
ST. BERNARD OF CLAIRVAUX CATHOLIC SCHOOL For the Period from July 1, 2013 to June 30, 2014 Contents Independent ant s Report on Applying Agreed-Upon Procedures 1 Recommendations for Improvement 6 Statements of Financial Position 7 Statements of Activities 10 Statement of Activities, Actual vs. Budget 17 Bank Information 24 Management Representation Letter 25
INDEPENDENT ACCOUNTANT S REPORT ON APPLYING AGREED-UPON PROCEDURES St. Bernard of Clairvaux Catholic School 1404 Old Gate Lane Dallas, TX 75216 We have performed the procedures enumerated below, which were agreed to by St. Bernard of Clairvaux Catholic School (the School ), at the request of the Catholic Diocese of Dallas, as of June 30, 2014. The School s management is responsible for the School s accounting records. This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public ants. The sufficiency of these procedures is solely the responsibility of the School and of the Catholic Diocese of Dallas. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. Our procedures and findings accompany this letter. We were not engaged to, and did not; conduct an audit, the objective of which would be the expression of an opinion on the accounting records. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. This report is intended solely for the information and use of the School and the Catholic Diocese of Dallas and is not intended to be and should not be used by anyone other than those specified parties. September 10, 2014 1
DIOCESE OF DALLAS AGREED-UPON PROCEDURES ST. BERNARD OF CLAIRVAUX CATHOLIC SCHOOL 1) Obtain a copy of the entity s year-end Right Networks (RN) standardized financial report #8 Statement of Financial Position vs. Prior Year, report #9: Statement of Activities vs. Prior Year - Natural and report #11: Statement of Activities vs. Budget Natural. The above financial reports are part of these procedures and must be in the prescribed RightNetworks format and included in the final review report. a. For Report #11 tie the budget balances to the approved budget by reference to minutes of the Finance Committee (and School of Advisory Board if applicable). If there is no budget or approval, so note in reviewer s report. b. Note and review any significant (e.g. 20%) variances in budget to actual comparison, and document reason(s) for such variance in the final review report. c. For Report #8 determine that the reported net assets balances in the prior year column agree with the report used in the prior year s review. The following variances in excess of 20% were noted between actual results and budgeted amounts for the fiscal year ended 2014: Description Actual Budget Variance % Fundraisers & Investment Income 153,898 224,484 (70,586) -31.4% Contributions & Assessments 3,933 2,715 1,218 44.9% Professional Fees 6,951 10,217 (3,266) -32.0% Utilities 72,571 55,671 16,900 30.4% Bad Debt Expense 856-856 100.0% Change in Temporarily Restricted Net Assets (87) - (87) 100.0% Also, the reported balance of net assets in the prior year column of the Statements of Financial Position had a variance of $814 from the reported balance for 2013. No other exceptions were found as a result of applying this procedure. 2) Obtain (or update) the list of all accounts at all financial institutions using the attached format (Bank/Investment Information) - The list must include any trusts and all Parish Based Organizations accounts. - The list must include account number, name, authorized signers and purpose. - Identify any accounts on the list that are not included in the entity s RightNetworks report #8 Statement of Financial Position vs. Prior Year. - The list must be signed by the Pastor (and the Principal if applicable) and included in the final review report. No exceptions were found as a result of applying this procedure. 3) Review the June 30 th account reconciliation for all of the above accounts and: a. Determine that reconciliation to the general ledger was performed in a timely (30 days) manner. b. Determine that the reconciliation was reviewed by other than the preparer (i.e. supervisory personnel) and such review is documented. c. Note in final review report any accounts that are not reconciled using QuickBooks. No exceptions were found as a result of applying this procedure. 4) Select 10-15% of employees (a minimum of 5, or all employees if there are less than 5), including some new hires, and determine that: a) Each is actively at work. b) Salary has been appropriately approved. In this respect, a priest s salary should agree with the Diocesan schedule and the related W-2 form (if any discrepancies are noted, the Diocesan CFO should be contacted at mweis@cathdal.org). c) All compensation has been included for tax reporting purposes. 2
DIOCESE OF DALLAS AGREED-UPON PROCEDURES ST. BERNARD OF CLAIRVAUX CATHOLIC SCHOOL d) Each has been enrolled in the diocesan group insurance plan if qualified (working 30 hours or more per week) and that the cost of elective coverages has been withheld from pay. e) I-9 documentation has been properly completed and is maintained in a file separate from other personnel records. f) Obtain a list of all employees paid during the fiscal year that indicates which are eligible and not eligible for 403B employer mandatory and employer match contributions. This list should include gross pay for each employee for the fiscal year and the reason(s) why paid employees marked as ineligible are in that status. - Determine that the employee is properly enrolled in the 403B Plan and received the correct matching and mandatory employer contributions for the fiscal year. (General 403(B) plan rules: (1) an employee can defer at any time. (2) To be eligible for employer contributions, an employee must have worked at least one year and worked more than 1,000 hours in a 12 month period). - Review the status of employees listed as ineligible for reasonableness. No exceptions were found as a result of applying this procedure. 5) Determine that employees are not also being given a 1099 tax form. No exceptions were found as a result of applying this procedure. 6) Inquire if the entity is providing any benefits to employees outside of Diocesan benefit plans. If any are identified, notify the Diocesan CFO immediately (mweis@cathdal.org). No exceptions were found as a result of applying this procedure. 7) Determine by inquiry and confirmation on a sample basis that payments to non-employees (e.g. independent contractors) are properly reported for federal tax purposes (i.e. tax form 1099) and the corresponding return (tax form 1096) filed with the IRS. No exceptions were found as a result of applying this procedure. 8) Determine by inquiry and observation in other work steps that no payroll taxes are being paid direct to the IRS by the entity. (Payroll taxes are paid and returns filed by PayChoice for all periods after December 31, 2008.) No exceptions were found as a result of applying this procedure. 9) Inquire if the entity has any unresolved payroll tax issues/correspondence with the IRS. If so, notify fvillela@cathdal.org immediately and include a description in the final review report. No exceptions were found as a result of applying this procedure. 10) For Parish only, a) Review Mass collection procedures and compare to those specified in the Diocese ing Standards Handbook. b) Tie in 3 non-consecutive weeks count sheets to related deposit and posting to general ledger. c) Ascertain procedures have been documented for collecting, documenting and recording fees and other revenues, and review such procedures. Test on a sample basis that such funds are timely deposited and properly recorded. d) Ascertain, and test on a sample basis, that donor restricted gifts or contributions are properly accounted for and in accordance with the standard chart of accounts (in accounts #7xxx and #8xxx.). Ascertain that donor restrictions are complied with. This step is not applicable. 11) For Schools only, a) Review reconciliation of actual enrollment to actual tuition and registration fees, collections, deposits and tuition revenue for the current year actual and for next year s budget. 3
DIOCESE OF DALLAS AGREED-UPON PROCEDURES ST. BERNARD OF CLAIRVAUX CATHOLIC SCHOOL b) Obtain a reconciliation of the parish subsidy amount for the current year between the School s financial report, the Parish s financial report and the parish assessment reports (see step 14) for the fiscal year. c) Ascertain procedures have been documented for collecting, documenting and recording fees and other revenues, and review such procedures. Test on a sample basis that such funds are timely deposited and properly recorded. d) Ascertain, and test on a sample basis, that donor restricted gifts or contributions are properly accounted for and in accordance with the standard chart of accounts (in accounts #7xxx and #8xxx.). Ascertain that donor restrictions are complied with. GPP noted a $3,781 difference between the reconciliation of actual enrollment tuition and fees to the current year actual amounts reported on the statement of activities. GPP also noted a difference of $1,249 between the revenue reported on the statement of activities for the school, and the school subsidy amount reported on the church s quarterly assessments. No other exceptions were found as a result of applying this procedure. 12) Review lesser of 30 or 10% of non-payroll disbursements - i.e., 30 disbursements for the Parish and 30 disbursement for the School, to include disbursements by parish based organizations and determine: a) That invoice, receipt or contract is properly approved and attached. b) That employee/pastor/priest expense reimbursement is adequately and properly supported. c) That purchase is reasonable in the circumstances. d) Inquire if any payee that is an individual is in fact an employee but is paid outside of the payroll process. Of the 30 disbursements selected, GPP noted one item for which supporting documentation could not be located. No other exceptions were found as a result of applying this procedure. 13) Review a representative sample of disbursements paid to pastor, other priests, principal and staff for proper approvals and documentation. GPP noted one item for which receipts were provided for the reimbursement but no approval for the disbursement was documented. No other exceptions were found as a result of applying this procedure. 14) For parishes, review the aggregate of the four quarterly assessment reports during the fiscal year and: a) Tie into general ledger and review for compliance with Diocesan policy (contact the Diocesan CFO if the written policy is not available), b) Determine that deductions for debt service represent actual payments, or that those payments have been properly offset against excluded proceeds from approved debt service campaigns, c) Determine that school subsidy deduction represents actual disbursements to or on behalf of the school by reconciling the annual amount deducted, to the parish and school general ledgers (QuickBooks). See also step 11b above. This step is not applicable. 15) Determine that national and special collections are being remitted timely and in the proper amounts, by reviewing the amounts collected and remitted to the Diocese for 2 special collections. The CPA s report should list the 2 special collections reviewed, dates of collection and remittance and amounts for each. This step is not applicable. 16) Determine and report what financial reports are presented to appropriate governing groups (parish council, parish finance committee, school advisory council, board of directors, etc.) 4
DIOCESE OF DALLAS AGREED-UPON PROCEDURES ST. BERNARD OF CLAIRVAUX CATHOLIC SCHOOL The board is presented with a monthly balance sheet with comparison of budget to actual as well as a monthly and year-to-date P&L with comparison of budget to actual. 17) Determine that the parish and/or school published its prior fiscal year s financial reports in accordance with established Diocesan policy (refer to the ing Practices Handbook section labeled Policy on Audits, Financial Review and Financial Reporting Requirements). - Include in the final review report all pertinent details such as what reports were published, date of publication, length of publication, publication medium (e.g. bulletin, website, mailings) etc. The required reports were distributed on October 2, 2013 via the school s website. 18) The Pastoral Center provides a monthly statement of unpaid Diocesan invoices to each entity. The Pastoral Center also provides monthly statements, if applicable, for each entity s Funds on Deposit (savings) account at the Diocese and a statement of any loans from the Diocese. Obtain the Pastoral Center fiscal year end statement(s) of unpaid invoices, note payable activity & balance and Funds on Deposit activity & balance and reconcile them to the general ledger(s). No exceptions were found as a result of applying this procedure. 19) (a) Meet with the entity s pastor/principal/administrator, business manager and Finance Committee and review the results of the annual financial review. This should include a review of the year-end report and the final review report noted in step 21. (b) Obtain a copy of the completed Letter from Finance Committee (required letter/report to the Bishop on Parish Pastoral Council and Parish Finance Committee members and activities) and include it with the final review report. The parish is to submit the original of this letter to the Diocesan Director of Parish & School Financial Reporting (Fred Villela). The Finance Committee meeting is scheduled for September 25. A copy of the letter to the Bishop was not available as of the date of this report. 20) Obtain a representation letter from the pastor/principal/administrator and the business manager/bookkeeper and include a copy of the letter in the final review report. See the attached management representation letter. 21) Write a final report on the results of the review and all exceptions noted, and include recommendations for improvements in internal controls. The report should be addressed to the pastor/principal/director and delivered to them. See the attached recommendations for improvement letter. 5
RECOMMENDATIONS FOR IMPROVEMENT September 10, 2014 St. Bernard of Clairvaux Catholic School 1404 Old Gate Lane Dallas, TX 75216 While performing the agreed-upon procedures required by the Catholic Diocese of Dallas (the Diocese ) of St. Bernard of Clairvaux Catholic School (the School ), we noted opportunities to improve the School s internal control and accounting procedures. It should be noted and understood that we did not conduct a formal review of the School s systems of internal controls or accounting procedures so management should not place any reliance on our agreed-upon procedures as it relates to the adequacy and effectiveness of the School s internal controls and accounting procedures. The aforementioned agreed-upon procedures were also not designed to detect fraud, errors or other irregularities. In performing step 11b, we noted a difference between the revenue reported on the statement of activities for the school, and the school subsidy amount reported on the church s quarterly assessments. This problem can be avoided if a proper system of checks and balances is incorporated into the School s procedures. The parish subsidy amount should be reconciled monthly between the Church and the School so that any differences can be promptly investigated and adjusted with adequate explanations. We would like to thank you and your team for the kind cooperation and assistance provided to us. Very truly yours, 6
STATEMENTS OF FINANCIAL POSITION Number 6/30/2014 6/30/2013 Assets Cash & Cash Equivalents 1001 Operating Checking $ 174,380 $ 168,532 1002 Money Market 1003 Savings 115,870 181,208 1004 Certificates of Deposit 1005 Treasury Securities 1006 Diocesan Funds on Deposit 1007 Petty Cash 100 100 290,350 349,840 Receivables 1101 Tuition & Fees Receivable - 702,520 1102 s Receivable - 1,909 1103 Allowance for Uncollectible Receivables 1104 Pledges Receivable 1105 Allowance for Uncollectible Pledges - 704,429 Other Assets 1201 Prepaid Expenses 12,314 10,251 1202 Inventory of Scrip Vouchers 1203 Inventory (e.g. bookstore, religious articles, etc.) 1204 Deferred Charges 1205 Deposits 4,752 1,408 1206 Other 1208 Undeposited Funds 653-17,718 11,659 Property & Equipment 1301 Land 1302 Land not in use 1303 Land Improvements 1304 Buildings 1305 Building Improvements 1306 Furniture & Fixtures 1308 Equipment 1310 Vehicles 1312 Leasehold Improvements 1313 Construction In Progress Total Cost Property & Equipment 1322 Accumulated Depreciation - Land Improv. 1323 Accumulated Depreciation - Building 1324 Accumulated Depreciation - Building Improv. 1325 Accumulated Depreciation - Furniture & Fixture 1328 Accumulated Depreciation - Equipment 1330 Accumulated Depreciation - Vehicles MID LEVEL COMPARATIVE STATEMENTS OF FINANCIAL POSITION (NATURAL) - 07/23/2014 - Page 1 of 3 7
STATEMENTS OF FINANCIAL POSITION Number 6/30/2014 6/30/2013 1332 Accumulated Depreciation - Leasehold Improv. Property & Equipment, Net of Depreciation Investments 1401 Catholic Foundation 97,408 89,814 1403 School Trust 1404 Other 97,408 89,814 Total Assets $ 405,476 $ 1,155,741 Liabilities s Payable 2005 Vendors & Suppliers 17,754 18,063 2010 Payables to Diocesan Entities 2015 Other s Payable 17,754 18,063 Credit Cards Payable 2031 Credit Card Payable Special Collections - School 2051 Special Collections - Schools 500 500 500 500 Other Accrued Expenses & Liabilities 2101 Assessment Payable to Diocese School Office 2102 Accrued Expenses 2103 Security Deposits 2104 Accrued Interest on Loan(s) Payroll Liabilities 2201 Federal Income Tax Withholding 2202 Medicare Tax Withholding 2203 Medicare Tax - Employer Liability 2204 FICA Tax Withholding 2205 FICA Tax Employer Liability 2206 403(B) Withholding 2207 Accrued Employer 403(B) Liability 2208 Garnishments Payable 2209 Sec. 125/Flexible Spending 2210 Unpaid Stipends 2211 Payroll Liabilities - Other 4,093 3,436 4,093 3,436 Loans Payable 2301 Construction Loans MID LEVEL COMPARATIVE STATEMENTS OF FINANCIAL POSITION (NATURAL) - 07/23/2014 - Page 2 of 3 8
STATEMENTS OF FINANCIAL POSITION Number 6/30/2014 6/30/2013 2302 Loans from Diocese 2303 Mortgage Loans 2304 Loans from Parishioners 2305 Capitalized Lease Obligations Deferred Revenue 2401 Deferred Fees 55,336 50,300 2402 Deferred Tuition 196,683 902,012 2403 Other Deferred Revenue (112) 1,100 251,908 953,412 Total Liabilities 274,254 975,410 Net Assets 3010 Beginning Unrestricted Net Assets 180,331 65,506 3011 Current Year Unrestricted Change (49,185) 114,826 3020 Beginning Temporarily Restricted Net Assets 3021 Current Year Temporarily Restricted Change 75-3030 Begin Permanently Restricted Net Assets 3031 Current Year Permanently Restricted Change Unauthorized s Total Net Assets 131,222 180,331 Total Liabilities & Net Assets $ 405,476 $ 1,155,741 MID LEVEL COMPARATIVE STATEMENTS OF FINANCIAL POSITION (NATURAL) - 07/23/2014 - Page 3 of 3 9
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 Change in Unrestricted Net Assets Revenues 4010 Tuition 4011 Tuition 4012 Tuition K-8 $ 940,988 $ 886,217 4013 Tuition Pre-K 16,428-4014 Tuition Refunds (7,507) (4,471) 4015 Uncollectible Tuition - 2,503 4016 Other Tuition 23,200 20,300 973,109 904,549 973,109 904,549 4020 Fees 4021 Fees 4022 Registration Fees 59,975 66,830 4023 Technology Fees 34,900 73,650 4024 Extended Day fees 36,733 42,662 4025 Athletic Fees 11,831 10,106 4026 Concessions - 215 4027 Late Charges 710 710 4028 Other 14,324 17,443 158,472 211,615 158,472 211,615 4030 Parish Subsidy 4031 Parish Subsidy 4032 Cash Subsidy from Parish 50,413 55,000 4033 School Expenses Paid by Parish 29,746 2,377 80,159 57,377 80,159 57,377 4100 Fundraisers & Investment Income 4110 Fundraisers 4111 Bingo 4112 Carnivals/Bazaars/Auctions 4113 Raffles 4114 Scrip Program 77,918 120,280 4115 Annual Campaign 4116 Other Fundraisers 67,811 52,927 145,730 173,206 4120 Investment Income 4121 Unrealized Gains/(Losses) on Securities 4,773 3,067 4122 Realized Gains/(Losses) on Sales of Securities 1,768 3,354 4123 Interest & Dividend Income 1,135 1,864 DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 1 of 7 10
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 7,676 8,285 153,406 181,492 4200 Other Revenues 4230 Pre-School & Other Child Care Services 4231 Child Care Services 4240 Cafeteria 4241 Cafeteria Revenue 50,867 57,783 50,867 57,783 4260 Rental Income 4261 Rental Income 4280 Field Trip Revenues 4281 Field Trip Revenues 10,261 10,089 10,261 10,089 4290 Miscellaneous Revenues 4291 Miscellaneous Revenues 58,380 40,382 58,380 40,382 119,508 108,254 4400 Gifts, Bequests, & Property Sales 4410 Gifts from Other Parishes/Schools 4411 Gifts from Other Parishes/Schools 51-51 - 4420 Gifts & Bequests 4421 Gifts & Bequests 38,373 39,326 38,373 39,326 4430 Gain/(Loss) on Sale of Property 4431 Gain/(Loss) on Sale of Property 38,424 39,326 4500 Assets Released from Restriction 4510 Assets Released from Restriction 4511 Assets Released from Restriction Total Revenues 1,523,078 1,502,614 Expenses 5000 Compensation & Benefits DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 2 of 7 11
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 5010 Salaries & Wages 5011 Religious 5012 Priests 5013 Lay 812,526 707,457 5014 Substitutes 8,648 22,911 5015 Aides 20,989 11,741 5016 Stipends 842,163 742,109 5020 Payroll Taxes 5021 FICA 50,259 44,822 5022 Medicare 11,754 10,483 5025 Payroll Expenses - Other 59-62,073 55,304 5030 Employee Benefits 5031 Group Insurance Premiums 171,934 143,258 5032 Pension - Clergy 5033 403(B) Lay Retirement Plan 17,035 21,621 188,969 164,880 5040 Contract Labor 5041 Contract Labor 11,769 14,968 11,769 14,968 1,104,973 977,260 5100 Contributions & Assessments 5110 Contributions & Assessments 5111 Contributions to Other Charitable & Religious Orgs. 5113 Schools Assessment 3,933 2,715 3,933 2,715 3,933 2,715 5200 Professional Fees 5210 Professional Fees 5211 Audit & ing 5,235 4,766 5212 Legal - 15,955 5213 Other 5214 School Community Education 1,505 2,899 5215 Staff Continuing Education & Development 152 40 6,892 23,660 6,892 23,660 5260 Insurance & Risk Management 5261 Insurance & Risk Management 5262 Student Accident Insurance DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 3 of 7 12
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 5263 Insurance - Property, Casualty, Etc 33,428 31,621 5264 Deductibles & Uninsured Casualty Losses - 2,499 5265 Safe Environment Program 1,120 1,109 34,548 35,229 34,548 35,229 5300 Supplies, Repairs, Maintenance, Equipment & Related Services 5310 Supplies 5311 Textbooks 36,540 16,267 5312 Classroom Supplies 2,648 3,244 5313 Food & Beverages 41,059 31,371 5314 Postage & Delivery 398 1,474 5315 Printing & Reproduction 229-5316 Liturgical Supplies 409 450 5317 Office Supplies 8,351 8,318 5318 Miscellaneous Supplies 13,791 9,856 103,426 70,979 5320 Purchased Furniture & Equipment 5321 Minor Purchased Furniture & Equipment 5,151 1,058 5322 Major Purchased Furniture & Equipment 17,481 7,113 22,632 8,171 5330 Repairs & Maintenance 5331 Vehicles 5332 Building Repairs & Maintenance 63,845 9,463 5333 Equipment Repairs 5,356 4,829 5334 Maintenance Services 9,589 11,239 5335 Janitorial Supplies 1,182 3,504 79,971 29,035 5340 Rental Expense 5341 Leased Equipment 23,327 23,435 5342 Facilities Leasing & Rentals - 11,540 23,327 34,975 5350 Other Services & Charges 5351 Texas Catholic Subscriptions 5352 Subscriptions 209 954 5354 Dues & Memberships 442 405 5355 Advertising & Promotion 2,696 6,042 5356 Travel & Lodging 5358 Property Taxes 818 1,218 5359 Field Trip Expense 3,709 8,155 5360 Scrip Purchases 43,709 88,296 5361 Gift Shop, Spirit Store, Etc. Purchases 969 - DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 4 of 7 13
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 5362 Miscellaneous Other Services & Charges 63,851 43,143 116,402 148,214 Equipment & Related Services 345,758 291,375 5400 Utilities 5410 Utilities 5415 Electric 44,462 37,037 5420 Gas 8,589 4,124 5425 Water & Sewer 10,820 5,938 5430 Telephone 7,979 8,153 5435 Internet 5440 Cell Phones 5450 Alarm Monitoring & Security 5460 Cable TV (& Internet) 71,850 55,253 71,850 55,253 5600 Interest & Finance Charges 5610 Interest Expense 5611 Interest Expense 5620 Financing Costs 5621 Financing Costs 5630 Bank Charges 5631 Bank Fees 276 301 276 301 5640 Credit Card Fees 5641 Credit Card Fees 3,177 2,340 3,177 2,340 3,453 2,641 5700 Bad Debt Expense 5710 Bad Debt Expense 5711 Bad Debt Expense 856 (344) 856 (344) 5720 Uncollectible Pledges 5721 Uncollectible Pledges 856 (344) 5800 Depreciation & Amortization 5810 Depreciation & Amortization DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 5 of 7 14
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 5811 Depreciation Expense 5821 Amortization Expense Total Expenses 1,572,263 1,387,788 Total Change in Unrestricted Net Assets (49,185) 114,826 Change in Temporarily Restricted Net Assets 7010 Capital Campaign Pledges 7011 Pledges Received 7020 Other Contributions 7021 Contributions Received 7040 Investment Income 7041 Unrealized Gains/(Losses) on Securities 7042 Realized Gains/(Losses) Sales of Securities 7043 Interest & Dividends 75-75 - 7050 Uncollectible Pledges 7051 Uncollectible Pledges 7060 Other Expenses & Costs 7061 Other Expenses 7070 Assets Released from Restriction 7071 Funds Released from Restriction Total Change in Temporarily Restricted Net Assets 75 - Change in Permanently Restricted Net Assets 8010 Pledges 8011 Pledges Received 8020 Other Contributions 8021 Contributions Received 8050 Uncollectible Pledges DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 6 of 7 15
STATEMENTS OF ACTIVITIES Number 7/1/2013-6/30/2014 7/1/2012-6/30/2013 8051 Uncollectible Pledges Total Change in Permanently Restricted Net Assets Combined Change in Net Assets ($ 49,110) $ 114,826 DETAIL LEVEL COMPARATIVE STATEMENTS OF ACTIVITIES (NATURAL) - 07/23/2014 - Page 7 of 7 16
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance Change in Unrestricted Net Assets Revenues 4010 Tuition 4011 Tuition 4012 Tuition K-8 $ 940,988 $ 976,477 ($ 35,489) 4013 Tuition Pre-K 16,428-16,428 4014 Tuition Refunds (7,507) - (7,507) 4015 Uncollectible Tuition - 4016 Other Tuition 23,200-23,200 973,109 976,477 (3,368) 973,109 976,477 (3,368) 4020 Fees 4021 Fees 4022 Registration Fees 59,975 59,000 975 4023 Technology Fees 34,900 37,600 (2,700) 4024 Extended Day fees 36,733 43,500 (6,768) 4025 Athletic Fees 11,831 10,106 1,725 4026 Concessions - 4027 Late Charges 710-710 4028 Other 14,324 20,212 (5,888) 158,472 170,418 (11,946) 158,472 170,418 (11,946) 4030 Parish Subsidy 4031 Parish Subsidy 4032 Cash Subsidy from Parish 50,413 55,000 (4,587) 4033 School Expenses Paid by Parish 29,746-29,746 80,159 55,000 25,159 80,159 55,000 25,159 4100 Fundraisers & Investment Income 4110 Fundraisers 4111 Bingo - 4112 Carnivals/Bazaars/Auctions - 4113 Raffles - 4114 Scrip Program 77,918 149,000 (71,082) 4115 Annual Campaign - 4116 Other Fundraisers 67,811 66,759 1,052 145,730 215,759 (70,029) 4120 Investment Income 4121 Unrealized Gains/(Losses) on Securities 4,773 4,174 599 4122 Realized Gains/(Losses) on Sales of Securities 1,768 3,243 (1,475) DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 1 of 7 17
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance 4123 Interest & Dividend Income 1,135 1,308 (173) 7,676 8,725 (1,049) 153,406 224,484 (71,078) 4200 Other Revenues 4230 Pre-School & Other Child Care Services 4231 Child Care Services - - 4240 Cafeteria 4241 Cafeteria Revenue 50,867 61,200 (10,333) 50,867 61,200 (10,333) 4260 Rental Income 4261 Rental Income - - 4280 Field Trip Revenues 4281 Field Trip Revenues 10,261 11,300 (1,039) 10,261 11,300 (1,039) 4290 Miscellaneous Revenues 4291 Miscellaneous Revenues 58,380 40,093 18,287 58,380 40,093 18,287 119,508 112,593 6,915 4400 Gifts, Bequests, & Property Sales 4410 Gifts from Other Parishes/Schools 4411 Gifts from Other Parishes/Schools 51 1,140 (1,089) 51 1,140 (1,089) 4420 Gifts & Bequests 4421 Gifts & Bequests 38,373 31,325 7,048 38,373 31,325 7,048 4430 Gain/(Loss) on Sale of Property 4431 Gain/(Loss) on Sale of Property - - 38,424 32,465 5,959 4500 Assets Released from Restriction 4510 Assets Released from Restriction 4511 Assets Released from Restriction - - - Total Revenues 1,523,078 1,571,437 (48,359) DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 2 of 7 18
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance Expenses 5000 Compensation & Benefits 5010 Salaries & Wages 5011 Religious - 5012 Priests - 5013 Lay 812,526 795,324 (17,202) 5014 Substitutes 8,648 10,000 1,353 5015 Aides 20,989 44,400 23,411 5016 Stipends - 842,163 849,724 7,561 5020 Payroll Taxes 5021 FICA 50,259 52,679 2,420 5022 Medicare 11,754 12,318 564 5025 Payroll Expenses - Other 59 - (59) 62,073 64,997 2,924 5030 Employee Benefits 5031 Group Insurance Premiums 171,934 157,548 (14,386) 5032 Pension - Clergy - 5033 403(B) Lay Retirement Plan 17,035 23,746 6,711 188,969 181,294 (7,675) 5040 Contract Labor 5041 Contract Labor 11,769 13,484 1,716 11,769 13,484 1,716 1,104,973 1,109,499 4,526 5100 Contributions & Assessments 5110 Contributions & Assessments 5111 Contributions to Other Charitable & Religious Orgs. - 5113 Schools Assessment 3,933 2,715 (1,218) 3,933 2,715 (1,218) 3,933 2,715 (1,218) 5200 Professional Fees 5210 Professional Fees 5211 Audit & ing 5,235 4,669 (566) 5212 Legal - 3,000 3,000 5213 Other - 5214 School Community Education 1,505 2,548 1,043 5215 Staff Continuing Education & Development 152 - (152) 6,892 10,217 3,325 DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 3 of 7 19
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance 6,892 10,217 3,325 5260 Insurance & Risk Management 5261 Insurance & Risk Management 5262 Student Accident Insurance - 5263 Insurance - Property, Casualty, Etc 33,428 31,620 (1,808) 5264 Deductibles & Uninsured Casualty Losses - 2,499 2,499 5265 Safe Environment Program 1,120 1,109 (11) 34,548 35,228 680 34,548 35,228 680 5300 Supplies, Repairs, Maintenance, Equipment & Related Services 5310 Supplies 5311 Textbooks 36,540 25,909 (10,631) 5312 Classroom Supplies 2,648 6,029 3,381 5313 Food & Beverages 41,059 31,368 (9,691) 5314 Postage & Delivery 398 679 281 5315 Printing & Reproduction 229 1,500 1,271 5316 Liturgical Supplies 409 - (409) 5317 Office Supplies 8,351 8,317 (34) 5318 Miscellaneous Supplies 13,791 9,855 (3,936) 103,426 83,657 (19,769) 5320 Purchased Furniture & Equipment 5321 Minor Purchased Furniture & Equipment 5,151 3,460 (1,691) 5322 Major Purchased Furniture & Equipment 17,481 28,250 10,769 22,632 31,710 9,078 5330 Repairs & Maintenance 5331 Vehicles - 5332 Building Repairs & Maintenance 63,845 9,463 (54,382) 5333 Equipment Repairs 5,356 5,820 464 5334 Maintenance Services 9,589 14,450 4,861 5335 Janitorial Supplies 1,182 3,503 2,321 79,971 33,236 (46,735) 5340 Rental Expense 5341 Leased Equipment 23,327 23,434 107 5342 Facilities Leasing & Rentals - 23,327 23,434 107 5350 Other Services & Charges 5351 Texas Catholic Subscriptions - 5352 Subscriptions 209 954 745 DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 4 of 7 20
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance 5354 Dues & Memberships 442 405 (37) 5355 Advertising & Promotion 2,696 6,500 3,804 5356 Travel & Lodging - 5358 Property Taxes 818 1,217 399 5359 Field Trip Expense 3,709 8,130 4,421 5360 Scrip Purchases 43,709 105,000 61,291 5361 Gift Shop, Spirit Store, Etc. Purchases 969 5,200 4,231 5362 Miscellaneous Other Services & Charges 63,851 55,410 (8,441) 116,402 182,816 66,414 Equipment & Related Services 345,758 354,853 9,095 5400 Utilities 5410 Utilities 5415 Electric 44,462 37,036 (7,426) 5420 Gas 8,589 4,124 (4,465) 5425 Water & Sewer 10,820 5,938 (4,882) 5430 Telephone 7,979 8,153 174 5435 Internet - 5440 Cell Phones - 5450 Alarm Monitoring & Security - 420 420 5460 Cable TV (& Internet) - 71,850 55,671 (16,179) 71,850 55,671 (16,179) 5600 Interest & Finance Charges 5610 Interest Expense 5611 Interest Expense - - 5620 Financing Costs 5621 Financing Costs - - 5630 Bank Charges 5631 Bank Fees 276 225 (51) 276 225 (51) 5640 Credit Card Fees 5641 Credit Card Fees 3,177 3,483 306 3,177 3,483 306 3,453 3,708 255 5700 Bad Debt Expense 5710 Bad Debt Expense 5711 Bad Debt Expense 856 - (856) DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 5 of 7 21
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance 856 - (856) 5720 Uncollectible Pledges 5721 Uncollectible Pledges - - 856 - (856) 5800 Depreciation & Amortization 5810 Depreciation & Amortization 5811 Depreciation Expense - 5821 Amortization Expense - - - Total Expenses 1,572,263 1,571,891 (372) Total Change in Unrestricted Net Assets (49,185) (454) (48,731) Change in Temporarily Restricted Net Assets 7010 Capital Campaign Pledges 7011 Pledges Received - - 7020 Other Contributions 7021 Contributions Received - - 7040 Investment Income 7041 Unrealized Gains/(Losses) on Securities - 7042 Realized Gains/(Losses) Sales of Securities - 7043 Interest & Dividends 75-75 75-75 7050 Uncollectible Pledges 7051 Uncollectible Pledges - - 7060 Other Expenses & Costs 7061 Other Expenses - - 7070 Assets Released from Restriction 7071 Funds Released from Restriction - - Total Change in Temporarily Restricted Net Assets 75-75 DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 6 of 7 22
STATEMENT OF ACTIVITIES July 1, 2013 to June 30, 2014 Number Actual Budget Variance Change in Permanently Restricted Net Assets 8010 Pledges 8011 Pledges Received - - 8020 Other Contributions 8021 Contributions Received - - 8050 Uncollectible Pledges 8051 Uncollectible Pledges - - Total Change in Permanently Restricted Net Assets - Combined Change in Net Assets ($ 49,110) ($ 454) ($ 48,656) DETAIL LEVEL STATEMENT OF ACTIVITIES ACTUAL VS BUDGET (NATURAL) - 07/23/2014 - Page 7 of 7 23
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