bethel school district no. 52, lane county, oregon …163.41.16.10/business/2012-cafr.pdf ·...
TRANSCRIPT
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON
EUGENE, OREGON
Comprehensive Annual Financial Report Year Ended June 30, 2012
Prepared By
Business Services Departn1ent Ellen }y[ Mooney, Director
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON TABLE OF CONTE'IT'S
INTRODUCTORY SEC170N
Letter of Transmittal GFOA Certificate of Achievement for Excellence in Financial Reporting Administrative Organization Chart Board of Directors
FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis Basic Financial Statements
Government-wide Financial Statements Statement of Net Assets Statement of Activities
Fund Financial Statements Balance Sheet - Governmental Funds Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Assets Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Govcnunental Funds to the Statement of Activities
Notes to Basic Financial Sla!ements Required Supplementary Infonnation
Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General Fund Special Projects Fund
Notes to Required Supplementary Information Schedule of Funding Progress for Other Postemployment Benefits
Other Supplementary lnfonnation Combining Balance Sheet - Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Governmental Flmds Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual
Debt Service Fund Orants Fund Food Services Fund Insurance Reserve Fund
Schedule of Revenues, Expenditures and Changes in Fund Balances Budget and Actual (Budgetary Basis) General Fund S pcci al Proj eels Fund Debt Service Fund Grants Fund Food Services Fund Insurance Reserve Fund
Other Schedules Schedule of Property Tax Transactions Schedule of Bond and Bond Interes! Coupon Transactions Schedule of Future Requirements for Retirement of Long-Tenn Debt Schedule of Supplemental Information for State School State Department of Education Schedule of Expenditures of Federal Awanls
1-5 6 7 8
9-10 11-16
17 18
19 20 21
22 23-41
42 43 44 45
46
47
48 49 50 51
52-53 54-55 56-57 58-59 60-61 62-63
64 65 66 67
68-70
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON TABLE OF CONTENTS (Continued)
STATISTICAL SECTION Condensed Statement of Net Assets - Last Nine Fiscal Years 71 Changes in Net Assets - Last Nine Fiscal Years 72 Fund Balances of Governmental Funds - Last Ten Fiscal Years 73 Changes in Fund Balances of Govennnental Funds - Last Ten Fiscal Years 74 Assessed Values of Taxable Prope11y Within School District No. 52 Boundaries - Last Ten Fiscal Years 75 Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years 76 Principal Property Taxpayers for Lane County - Current Year and Nine Years Ago 77 Property Tax Levies and Collections - Last Ten Fiscal Years 78 Ratios of Outstanding Debt by Type- Last Ten Fiscal Years 79 Direct and Overlapping Govenunental Activities Debt - As ofJw1e 30, 2012 80 Legal Debt Margin lnfomiation - Last Ten Fiscal Years 81 Demographic and Economic Statistics - Last Ten Calendar Years 82 Principal Employers for the Eugene Area - Current Year and Nine Y eai·s Ago 83 Nw:nber of Full Time Equivalent (FTE) Employees - Last Ten Fiscal Years 84 Operating Statistics - Last Ten Fiscal Years 85 Operating Statistics - Capital Assets - Last Ten Fiscal Years 86 Operating Statistics - Free and Reduced Lunches - Last Ten Fiscal Years 87
COMPLIANCE SECTION Independent Auditor's Report Required by Oregon State Regnlations Report on Internal Control over Financial Reporting and on Compliance
and Other Matters Based on Audit of Financial Statements Performed in Accordance with Government Auditing Standards
Independent Auditor's Report on Compliance with Reqnirements That Could Have a Direct and Material Effect on Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A-133
Schedule of Findings and Questioned Costs Schedule of Prior Year Findi11gs and Questioned Costs
88--89
90-91
92-93 94 95
INTRODUCTORY SECTION
Bethel School District #52 4640 Barger Drive • Eugene, OR 97402 • Phone (541) 689-3280
Fax (541) 689-0719 • www.bethel.k12.or.us
December 3 J, 2012
To the Bethel School District Community Ee•gene, Oregon
Together we will reach, teach, and inspire e;rch student to
excellence.
Oregmc Municipal Audit Law requires that an independent audit be made of all District funds within six months following the close of the fiscal year. Pursuant to this requirement, tl:e Cornprchensive Annual Financial Report of Bethel School District (the District) for the fiscal year enced June 30, 2012 is hereby submitted.
This repmt was prepared by the District's Business Services Department. TJ;e responsibility for the completeness, fairness, and accuracy of the data presented and all accompanying disclosures rests with the Distric1. To provide a reasonable basis for making these representations, the District's management has established a comprehensive internal control framework that is designed both 10 protect assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the District's financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP). District management is responsible for establishing and maimaining an internal control structure designed to ensure that the assets of the District are protected from Joss, theft or misuse and to ensure that adequate accounting infon:1ation is available for the District to prepare 1J1e financial statements in conformity with generally accepted accouming principles. Tbe concept ofreasonablc assurance recognizes that the cost of a control should nor exceed the benefits likely to be derived and that the valuation of costs and benefJ!s requires estimates and judgments by management. Because the cost of internal controls should not outweigh their benefits, the District's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurnnce that the fimncial statements will be free from material misstatement. As management, we assert that, to !he best of our knowledge and belief, this financial report is complete and reliable in all material respects.
INDEPENDENT AlJDIT
The Bethe! School District's financial statements have been audited by Grove, Mueller & Swank, P.C., a firm of licensed cer1ified public accountants. The goal of the independent audit was to provide reasonable assurance that the basic financial statements of the District for the fiscal year ended June 30, 2012, are free of material misstatement The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the basic financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall basic financial statemcnl presentation. The independent auditol' concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the District's basic financial statements for the fiscal year ended June 30, 2012, are fairly presented in conformity with GAAP. The independent auditor's report is presented as the firs: cornponeat of the Financial Section of this report.
The independent audit of the District's basic financial s'.a'.ements was part of a broader, federally mandated "Single Audit" designed to meet !he special requirements of federal grantor agencies. The standards governing Single Audit engagements require the independen! audi1or to report nor only on the fair presentation of !he basic financial statements, but also on lhe District's internal controls and compliance with legal requirements, wilh special emphasis on internal controls and legal requirements involving the administration of federal awards. These reports are available in rhe Single Audit Section of this repon.
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MANAGEMENT'S DISCUSSION AND ANALYSIS
GAAP requires that management provide a narrative introduction, overview, and analysis to aecompany the basic financial sta!ements in the form of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement :MD&A and should be read in conjunction with it. The District's 1ID&A can be found irruuediately foUowing the report of the independent auditors, beginning on page 11.
PROFILE OF THE DISTRICT
In 1948 voters approved fonuation of the Bethel School District by consolidating five smaller districts. A sixth small district was added in 1960. Since its fonnation the District's emollment has increased from 675 to !he cunent 5,637. Emollment projections for the 2012~13 year reflect no increase to 5,639. The District's total population is approximately 37,750.
Bethel is the lhird largest school district in Lane County. Its students are drawn from 31. 7 square miles in the southern part of the Willamette Valley in the Eugene-Springfield metropolitan area. Bethel School Dis1rict, a kindergarten through twelfth grade district, has one comprehensive high school, Willamette High; an alternative education high school, Kalapuya High; two middle schools, Cascade and Shasta; two kindergarten through eighth grade schools: MeadowView and Prairie Mountain; and five elementary schools, Clear Lake, Danebo, Fairfield, Irving and :\1alabon. The Disl!ict offers a broad array of programs such as general, special, vocational, alternative and technological education.
The District has taken pride in maintaining its facilities and managing growth. The oldest building in the District is Willamette High School, originally built in 1949. Through !he suppmi of the community, additions and renovations have enlarged the high school to a capaciiy of 1,590 students. The two middle schools were constructed six years apart with Cascade being built in 1955 and Shasta in 1961. TI1e elementary schools range in age from 33 years to 56 years wi!h Fairfield being the oldest and Clear Lake being rebuilt after a fue in 1976. The most recent additions to the District include the two K-8 schools, MeadowView in 1998, Prairie Mountain in 2002, and the alternative high school, Kalapuya, built in 2002.
The Bethel School District is financially independent. A seven-member elected school board is responsible for the District's operations and programs, and accordingly appoints the administration of the District, who share accountability for oversight. The school board and administration take their stewardship responsibilities very seriously. Consistent with this, District facilities are well-maintained and well-equipped. There are no component units and the District is not a component unit of another entity.
The District annually prepares a budget in accordance with requirements prescribed in the Oregon Revised Statutes. The objective of the District's budgetary controls is to ensure compliance with legal provisions embodied in the annual approp1iated budget approved by the District's Board of Directors. Activities of all fonds are included in !he annual appropriated budget.
A summary of the approved budget, together with a notice of public hearing, is published in a newspaper with general circulation in the District. A public hearing is held to receive comments from the public concerning the approved budget. The Board of Directors adopts the budget, makes the appropriations, and levies taxes after the public hearing and before the beginning of the year for which the budget has been prepared.
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Tue objective of the budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget adopted by the District's Board of Directors. Activities of the General Fund, Special Revenue funds, Debt Service Fund, and Capital Projects Fund are included in the annual appropriated budget. The level of budgetary control (i.e., the level at which expenditures cannot legally exceed the appropriated amount), is established by major function level within an individual fund. Transfers of appropriations between budget categories must be authorized by resolution of the Board of Directors.
As demonstrated by the statements and schedules included in the Financial Section of this repmt, the District continues to meet its responsibility for sound financial management.
ECONOMIC CONDITIONS AND OUTLOOK
Bethel School District is located in the Eugene-Springfield metropolitan area. Eugene is Oregon's second largest city and the seat of Lane County govennnent. Tue City ofEngene together with the City of Springfield comprises a metropolitan area that serves as the regional center for industry, service and trade, as well as for cultural, academic and recreational activities. Eugene is the home of the University of Oregon, the State's premier research institution as well as Lane Community College and Northwest Christian University.
Lane County's economy is still recovering from a severe recession. What started in construction and marmfactnring due to declining home values and restricted credit, spread across the local economy with employment losses in all sectors except health care. While recovery continues the pace remains sluggish. Job growth is averaging about half that of a typical expansion.
Manufactnring helped support Oregon's recovery in its early stages, propelled by business spending and exports. The Oilice of Economic Analysis reports that the manufacturing cycle is now past its peak. Businesses are purting off making long-term investments and the global slowdo'>'!Jl has reached Oregon's shores as major trading partners have cut back on orders for our products. The good news is that the recent improvement in housing might pick-np some of the slack. This handoff should help keep growth positive, yet it won't be enough to build significant momentnm this year or next.
State and local government agencies are still dealing with budget constraints. After another round of budget reductions this year, government employment levels look to stabilize in late 2015. Countering losses in govennnent, the private sector will add jobs estimated at more than 2%.
Construction also looks to stage a comeback as the housing market is showing signs of life. Recent and projected job growth for construction is expected to be the fastest growing broad industry as predicted by 1he Oilice of Economic Analysis. Leisure and hospitality will be the third fastest growing industry in 2012 with growth accelerating in 2013.
LONG-TERM FINAi,.,.CIAL PLANNING
The District's unreserved, undesignated fund balance in tl1e General Fund(! 0.8 perecnt of total General Fund revenues) is within the Govennnent Finance Oilicers Association rec01mnended range of five to fifteen percent or no less than one month of operating expenditures. Since the District is dependent on the State of Oregon for a substantial portion of its operating funds, and funding levels can vary from year to year, adherence to this range is critical.
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MAJOR PROGRAMS
The quality and quantity of programs offered by Bethel School Dist1ict are related to both the amount of funding provided as well as the effective and efficient management of those funds. To maximize the benefit to our cornrnunjty's children, the District must continue its effort to cultivate strong relationships with and between students, parents, staff, and community members in local fiscal decision making. In optimizing those funds for the benefit of the students, the Disllict will stiive to:
Maximize the positive impact on classroom instruction, instructional support, readiness to learn, and efforts to increase student achievement and engagement so that all students make progress toward meeting state standards, Disllict goals, and personal aspirations.
• Protect and maintain the community's investment in our facilities, physical spaces, equipment, and other assets. Prepare for both short and long-term fiscal responsibilities including: la)Jor agreements, reserves, fund balances, planning for current and future mandates along with community needs, and by investing in the sustainable growth of new and existing efficient and effective programs.
In spite of reductions over the last few years, the District has still garnered great success with continued improvements in literacy instrnction; inlplementation of a new math program at elementary and middle school levels; partnerships with local agencies to provide tutoring services; grants to deliver new instruction at the high school level; a new pre-kindergarten program; initiatives to fight childhood obesity; improvements to parent access to student infonnation; advances in providing healthy local foods to our students; new teacher and administrator growth and evaluation processes; the opening of a school-based health center; new educational enhancement grants and school beautification efforts through the Bethel Education Foundation; an active and effective College and Career Center that is successfully attaining more scholarships and suppmt for high school students; and the list goes on. These projects are a testament to the giving heart of our staff and community. The Bethel family wants the very best for its kids and is seeking out oppo1tunities to do just that Because of these efforts our students thrive in a number of ways: With statewide achievements in basketball, swimming, chess, DECA, FBLA, OBOB, cheerleading, music, culinary arts, math, and more. With the supp011 of Bethel programs and staff, our children are not only reaching for excellence, they are achieving it.
SIGNIFICANT FINk'ICL.<\L EV.ENTS
Sustainability is a key factor in any budget, but especially a declining revenue budget. The Distiict has faced budget sustainability issues from the onset of the recession. 111ese have included declining state revenue, increasing personnel costs, short-tenn federal and state funding, and use of Distiict reserve funds. The 2011-20 l 2 fiscal year is the last year of significant Federal Stimulus revenue or one-time State funds such as the School Year Sub account that provided $1.3 million. These fonds were for increasing educational opportunities and school days and required a compliance report to three legislative bodies hy January 15, 2012.
Employee concessions have had a significant and beneficial impact on the district's budget for four years running. However, they do not constitute a sustainable solution. They help address issues for a single year at a time, then previous employee agreements fall back into place. This unsustainable practice will lead to one of three future outcomes: (I) Employees and the District through normal bargaining or determination processes permanently reset compensation at sustainable levels; (2) Significant staffing reductions are made elsewhere in the budget to compensate for current salaiy and benefit costs; or (3) The District realizes a proportionate and reliable increase in State School Fund revenue.
November 6, 2012, Bethel voters approved a $49.5 million general obligation bond for the construction of two new elementary schools, replacing 56 year old Fairfield Elementary ai1d 54 year old Malabon Elementary School. A science wing addition will be constructed at Willainet!e High School. Other major projects to be paid from the bond include: textbook adoptions, technology upgrades, roofing and security throughout the District. Election results demonstrated the confidence and support voters have in the District. All eleven precincts had a wide margin of approval with an overall 73% approval rate. This was the highest in Bethel history.
A WARDS AND ACKNOWLEDGEMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Bethel School District for its Comprehensive Annual Financial Report for the year ended June 30, 2011. T11is was the sixteenth consecutive year that the Distiict has received this prestigious award. In order to be awarded a Certificate of Achievement, the District published an easily readable and efficiently organized Comprehensive Annual Financial Report. This repmt satisfied both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe our current Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to detennine its eligibility for another certificate.
Many individuals throughout the District provided information needed for the preparation of this report. We wish to express our appreciation to the staff of Bethel's Business Services Department and Administrative Office. Staff: Gayle Wood, Connie Springsteen, Nathan Voelsch, Judy Applegate, Linda Northrup, Shirley Rasler, and Keli Kephart. They all played an important part in the timely and accurate preparation of this Comprehensive Annual Financial Report.
We also thank the Directors of the Bethel School Board of Education for their continued support and dedication to the financial operations of the School Distiict.
Respectfully submitted,
Colt Gill Superintendent
z:: -Ellen Mooney Director of Business Services
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Certificate of Achievement for Excellence
in Financial Reporting
Presented to
Lane County School
District No. 52 (Bethel), Oregon
For its Comprehensive Ammal
Financial Report
for the Fiscal Year Ended
June 30, 2011
A Certificate of Achievement for Excellence in Financial Repmting is presented by the Government Finance Officers
Association of the United States and Canada to government units and public employee retirement
syste1ns whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting
and financial reporting.
President
Executive Director
Chair De bl
Farr
Peter Burrows, Prlnci,0ai
Ka!apuya High School
Stefan Aurr:ack, Principal
casc;;de Middle School
Dana fV',iBer, Principal
Sf'<as~a Middle School Glnny Weil, P;indpa!
!\'leadow View School
Brian Flick, Principal
Prnlrie l'v1ountai;i Schoo!
Jel"Jnifer ~allski, Principal
dear Lake Elementary
.lohn U.;hrnan, Principal
Danebo E!ementary
Mari Ford, Prlncipai
Fa:r'ieid Eleme".'ltary Jennifer Sink, Prlr:cipai
irving E!eme0t2ry
Greg James, Princ:pal
N"alabon Elerr.entary
Maureer Spence, Princlpa!
Alan
Laisure
Chris Parrz
Assistant Superintendent
Charter Schooi
Diversity, Gra:its, Emergency rv~an;;gement
Schoo! Safety, i=adHties, Food Services
Labor Reiat'.o:is, Maintenance
Print Shop,
Ombud£man/Compiaints
Recruitment, Hiring and Retention
Transportation
Horne:Source Family Charter
Pau:a Praus-\Vi!liamson Executive Directer
Bethel School District #52
Dawnja
johnson.
Rich
Cunningham
Greg
Nelson
Director Community Outreach
lnfrastructure Plannlng., Pubiic Relations
Publications
Colt Gill
Director Accounts Payable
Accounts Receivable, Execution of Budget
?a·yroH, Purchasing, Risk fVar:agement
Budget Development &
Analysis
Safety Committee
Paul
Jorgensen
Drew Braun Director
Alternative Education,
!Federal Title ~rograms
, English langu;;ige learners
fV:ath & Reading lnstruction/Coordination
No Child left Behind
Staff Developmert, Summer School
Chart~r School, TAG Education
t\1er:tal Health Services, Nurses, Counselors
Positive Be:havlor Support System
Special Education,
Curriculum Development
Ginger
Poage
Director Pentamation
Business and Student Info.
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OKBGON J[lNE 30, 2012
Debi Farr 1929 Prasl'.n Street Eugene, Oregon 97402
Paul Jorgensen 4 284 A val on Street Eugene, Oregon 97402
Ginger Poage 4325 Catalina Street Eugene, Oregon 97402
Greg Nelson 1234 Hilo Drive Eugene, Oregon 97404
Wayne Watkins 2964 D1y Creek Road Eugene, Oregon 97404
Dawnja Johnson 575 Cottonwood Place Eugene, Oregon 97404
Alan Laisure 5589 Livingston Avenue Eugene, Oregon 97402
BOARD OF DIRECTORS
ADMINISTRATIVE OFFICERS
Colt Gill, Superintendent-Clerk Ellen Mooney, Director of Business Services/Deputy Clerk
Administrative Office 4640 Barger Drive
Eugene, Oregon 97402
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Chairperson
Vice-Chairperson
Director
Director
Director
Director
Director
FINANCIAL SECTION
School Board Bethel School District No. 4640 Barger Drive Engene, Oregon
<llllll~!llil111' GROVE, MUELLER& SWANK, P.C.
CERTlflED PUBLIC ACCOUNTANTS AND CONSUtiANJS 475 Cottage Street NE1 Suite 200 .. Sal.e11t, Oregon 97301
(503) 581-7788
lNDEPENDEi\TAUDITOR'S REPORT
Lane Cotmty, Oregon
We have andited the accompanying financial statements of the governmental aetivities, each major fund, and the aggregate remaining fund information of Bethel School District No. 52, Lane Cow1ty, Oregon (!lie District) as of and for the year ended June 30, 2012, which collectively comprise the Distiict"s basic fmancial statements as listed in the table of contents. These financial statements are the responsibility of the Distiict's management. Our responsibility is to express opinions on these financial statements based on our andil.
We COHducted onr audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial andits contained in Government Auditing Standards, issued by the Comptroller General of the United States. 1bose standards reqnire that we plan and perform the audit to obtain reasonable assurance abont whether the financial statements are free of material misstatement An audit lnclndes exainining, on a test basis, evidence supporting the amonnts and disclosures in the financial statements. An andit also includes assessing the accounting principles used and signifieant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our andit provides a reasonable basis for our opuuons.
ln our opinion, the financial statements referred lo above prem.1t fuirly, in all mateiial respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the District as of June 30, 2012, ai1d the respective changes in fin3J1cial position thereof for the year then ended in conforrnity with accounting principles generally accepted in the United States of America.
Jn accordance with Govemment Auditing Standards, we have also issued our report dated December 31, 2012, on our consideration of tl1e Disliiet's internal control over financial reporting and 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, 3Jld not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.
Acconnting principles generally accepted in the United States of A.'Deilca require that the management's discussion and analysis (MD&A) (pages l l through 16), the schedule of funding progress for other post-employment b~'llefits (page 45), and the budgetary compaiison infonnation (pages 42 through 44) be presented to supplement tl1e basic financial statements. Such information, although not a pa1t of the basic financial staicments, is required by the Govemmen!al Accounting Standards Board, who considers it to he an essenlial p3l1 of financial reporting for placing the basic financial s+11iements in an appropriate operational, economic, or historical context We have applied certain limited procedures to the :MD&A and schedule of funding progress for other post-employment
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benefits 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 fmancial 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 infonnation because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. The budgetary comparison infonnation is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to 1J1e underlying accounting and other records used to prepare the financial slatemenls or to the fmancial statements themselves, and other additional procedures in accordance wilh audiling standards generally accepted in the United States of America. In our opinion, the information is fairly slated in al! material respects in relation lo the financial statements as a whole.
Our audit was conducted for the purpose of fomring opinions on the financial statements that collectively comprise Bethel School District No. 52's financial statements as a whole. The other supplementary information (introductory section, combining and individual fund financial statements and schedules, other schedules, and statistical section), is presented for purposes of additional analysis and is not a required part of the financial statements. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by the US. Office of Management and Budget Circular A-133, Audits of States, Local Goven1ments, and Non-Profit Organizations, and is also not a required part of the financial statements. TI1e other supplementary information (combining and individual fond financial statements and schedules), and the schedule of oxpenditures of federal awards are the responsibility of management and were derived from and relate directly to the underlying accounting and other w.cords used to prepare the financial statements. The information bas been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or lo the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the fmancial statements as a whole. The introductory and statistical sections and other schedules have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
GROVE, MU.ELLER & SWANK, P.C. CERTIFIED PUBLIC ACCOUNTANTS
By:~d~~ Charles A. Swank, A Shareholder December 31, 2012
BETHEL SCIIOOL DISTRICT No. 52 MANAGEMENT'S DISCUSSION AND ANALYSIS
JUNE 30, 2012
As management of Bethel School District No. 52 (the District), we offer readers of the District's fmancial statements this narrative overview and analysis of the financial activities of the District for the fiscal year ended June 30, 2012. We encomage readers to consider the infonnation presented here in conjunction with additional information that we have furnished in our Transmittal Letter, which can be found on pages I through 5 of th.is report.
FINANCIAL IIIGHI~IGHTS
• In the govenm1ent-wide statements, the assets of the District exceeded its liabilities at June 30, 2012 by $34.1 million (net assets). Of th.is amount $6.5 million (unrestricted net assets) may be used to meet the District's on going obligation to citizens and creditors in accordance with the District's fiscal policies.
• The Distiict's total net assets increased by $1.l m.illion for the fiscal year, a 3 perceut increase in tl1e District's fmancial position as compared to the prior year.
• Total cost of all the District's programs was $54.4 million for the fiscal year, a small decrease from the pnor year.
• The Distiici's govenm1ental fuuds report combined ending fund balance of $8.9 million, a decrease of $7.9 million from the prior year. Approxinrntely 53 percent of th.is total amount, $4. 7 million, is unassigned, available for appropriation at the District's discretion.
• At the end of the fiscal year, unreserved fund balance for the General Fund was $4. 7 million, which represents 10 percent of total general fund expenditures.
• The Distiict's total long-term debt decreased by $9.6 million (33 percent) dilling the 2011-2012 fiscal year.
OVERVIEW OF TIIE FINANCIAL STATEMENTS
Th.is Management's Discussion and Analysis is intended to serve as an introduction to the District's basic financial statements. The District's basic fmancial statements consist of three components: 1) goverrunent-wide financial statements, 2) fund financial statements, and 3) notes to the fmancial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
Government-wide financial statements
The government-wide financial statements are designed to provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business. These statements include:
Statement of Net Assets. The Statement of Net Assets focuses on resources available for future operations. In simple terms, th.is statement presents a snapshot view of what the District owns (assets), what it owes (liabilities), and the net difference (net assets). Net assets may be further separated into amounts restricted for specific purposes and uru·estricted an1ounts. Over time, increases and decreases in net assets may serve as a useful indicator of whether the financial position of the Distiict is improving or deteriorating.
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Statement of Activities. The Statement of Activities presents information showing how the net assets of the District changed over the year by tracking revenues, expenses and other transactions !hat increase or reduce uet assets. All changes in net assets are reported as soon as !he underlying event giving rise to !he change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g. uncollected taxes).
In the government-wide financial statements, the District's activities are shown as governmental activities.
Governmental Activities. 'D1e District's basic functions are shown here, such as regular and special education, child nutrition services, transportation, and administration. These activities are primarily financed through Oregon's State School Fund, property taxes, and other intergovernmental revenues.
Tbe government-wide financial sta.temcn!s can be found on pages 17 and 18 of this report.
Fund financial statements
The fund financial statements provide more detailed information about the District's funds, focusing on its most significant or "major" funds-not the District as a whole. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District maintains four fund types: general operating, special revenue, debt service and capital projects. The fund financial statements are found on pages 19 through 22.
Notes to financial statements
The notes provide additional ir1formation that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes lo the financial statements can be found on pages 23 through 41 of this report.
GOVERNMENT-WIDE FD'A.~CIAL ANAJ,YSIS
Statement of Net Assets. Net assets may serve as a useful indicator of a government's financial position over time. h1 the case of the District, assets exceed liabilities by $34. 1 million on June 30, 2012.
Capital assets net of related debt, which consist of the District's land, buildings, building improvements, site improvements, and coustruction in progress, vehicles, and equipment, represent approximately 77 percent of total net assets. The District uses !he capital assets to provide services lo siuden!s and other Distiic! residents; consequently these assets are not available for future spending. Although the District's investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources (generally property taxes}, since the capital assets themselves cannot be used to liquidate these liabilities. The remaining asse!s consist mainly of investments, cash, and grants and property taxes receivable.
'The District's largest liability (68 p~'Tcent) is for the repayment of long-term debt (general obligation bonds and o!her postemployment obligation benefits). Current liabiliiies consist almost entirely of payables on accounts and payroll benefit,,
The District's unrestricted net assets declined minimally over the prior year.
- 12 -
Bethel School District No. 52 Statement ofNet Assets (Modified Cash Basis)
June 30,
2012 2011 Change
Current and other assets $ 19,058,506 $ 20,774,973 $ (1,716,467)
Capital assets 44,096,686 44,940,707 (844,021)
Total assets 63,155,192 65,715,680 (2,560,488)
Current liabilities 9,183,036 3,239,815 5,943,221 Long-term liabilities 19,832,587 29,404,163 (9,571,576)
Total liabilities 29,015,623 32,643,978 (3,628,355)
Net assets: Invested in capital assets, net of related debt 26,971,686 24,225,707 2,745,979 Restricted 588,933 841,639 (252,706) Um·estrieted 6,578,950 8,004,356 (1,425,406)
Total Net Assets $ 34,139,569 $ 33,071,702 $ 1,067,867
Statement of Activities. During the 2011-12 fiscal year, the District's net assets iucreased by $1 million as compared to a $0.4 milliou increase in 2010-11. The key elements in this change are the net effect of the following:
o Total revenues for the Dishict's govennnental activities increased 1 percent. o Local property tax revenue increased by 1 perceut. o State School Fund increased by a 1 percent due to federal forest fees and school year subaccouut. o Interest earnings on investments iucreased $30 thousand, due to reserve levels. o Total expenses for the District's governmental activities decreased 1 percent. 'TI1e majority of the decreases
were due to a reduction in instn1ction aud other expenses. o Interest on long-term liabilities decreased $23 thousand.
-13 -
Bethel School District No. 52 Changes in Net Assets (Modified Cash Basis)
June 30,
2012 Revenues
Program revenues Charges for services $ 442,507 Operating grants and contributions 8,763,548
General revenues Property taxes 16,308,360 State school fund 27,621,735 Other 2,384,263
Total revenues 55,520,413
Expenses Instructional services 31,164,003 Support services 19,391,817 Other 2,934,923 Interest on Iong·tenn liabilities 961,803
Total expenses 54,452,546
Change in net assets 1,067,867 Net assets, beginning of year 33,071,702
Net assets, end of year $ 34,139,569
r--~evenue for Fiscal Yea~~;~~ 4%1% ., ... ~""""'""'£ I
~I ~16% •Charges for services ~
• Operatmg grants and I
f contnbut1ons
11 • Property ta~es
29% • S<ate school fund 50%
,- - ..
I
3b3
II: Other
'14 -
2011 Change
$ 668,948 $ (226,441} 9,086,064. (322,516)
16,072,397 235,963 26,359,638 1,262,097 3,073,816 (689,553)
55,260,863 259,550
31,566,430 (402,427) 18,954,506 437,311 3,313,087 (378,164)
985,368 (23,565)
54,819,391 (366,845)
441,472 626,395 32,630,230 441,472
$ 33,071, 702 $ 1,067,867
• !ns1;uctional services
•Support :services
r.t Other
• lnierest on long-term llabiliiies
FINANCIAL ANALYSIS OF THE DISTRICT'S FlJT"DS
As noted earlier, the District uses f-tmd accounting to ensure and demonstrate compliance wlth finance-related legal requirements.
Governmental fnnds. The focus of the District's governmental funds is to provide information on relatively shortterm cash flow and funding for future basic services. Such information is useful in assessing the District's financing requirements. In particular, fund balance may serve as a usefol measure of a government's net resonrces available for spending at the end of a fiscal year.
At Jnne 30, 2012 the District's governmental funds reported combined ending fund balances of $8.9 million.
General Fund. The General Fnnd is the chief operating fund of the District. As of June 30, 2012, unassigned f-tmd balance was $4.7 million. As a measure of the fund's liquidity, it may be nseful lo compare total fund balance to total f-tmd revennes. Fw1d balance represents 10.8 pmce.nl of total General Fund revenues.
The fund balance decreased by $1.3 million during the cnrrent fiscal year. The change is attributed, due in part, to the following:
• Federal sonrces decreased $2.2 million from the prior year due to the loss of all federal stimulns dollars. • Transfers decreased $0.5 million from 2010-1 L
Special Projects Fund. The Special Projects Fund is to account for revcnnes and related expenditures for a variety of activities, many of them are of an "in-and-out" character, without impacting the General Fund. Building rental fonds, student activity funds and scholarship f-tmds are a few examples. Vvrule thc.·re was activity in the Special Projects Fnnd, the fund balance decreased by $336,658. Schools are monitoring their reserve acconnts closely and spending fiugally.
Debt Sen,ice Fund. The Debt Service Fund has a total flmd balance of $0.24 million all of which is reserved for the payment of general obligation bonds. The District did an advance refunding (on a taxable basis) in June 2011. These refunding bond proceeds were held nntil the refunded bonds became callable in June 2012. This resnlted in a savings of almost $1.5 million lo Bethel taxpayers. The confidence that Bethel voters have in the District was exemplified when a $49.5 million general obligation bond was passed in November 2012 with a 73% majority vote.
GENERAL FUND BUDGETARY IIIGHLIGIITS
The Board approved changes lo the Genmal Fnnd adopted budget for the fiscal year ended June 30, 2012. Budget amendments reflected changes in programs, program funding, and the reconciliation of net working capital. Differences in the original and final adopted budgets include a decrease in instructional expenditures of $200,000 and an increase of $200,000 to transfers to suppoit HomeSonrce Family Charter School. A decrease of $80,000 in support services and an increase of $80,000 lo community services to support a strengthening family suppmt program throngh early intervention.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital assets. The District's investment in capital assets includes land, buildings and improvements, site improvements, equipment and vehicles. As of June 30, 2012 the District had invested $44.1 million in capital assets, net of accumulated depreciation.
15 -
2012 2011
Land and improvements $ 2,565,671 $ 2,435,000 $ 130,671
Building and improvements, equipment and vehicles 64,415,304 64,178,558 236,746 Accumulated depreciation (22,884,289) (21,672,851) (1,211,438)
Total $ 44,096,686 $ 44,940,707 $ (844,021)
Additional information on the District's capital asset activity can be found on page 32.
Long-term debt. During the year ended June 30, 2012, $9.575 million of principal was paid on long-tenn debt. At June 30, 2012, the District had total bonded debt outstanding of $17.125 million.
Additional infonnation on the District's long-term debt can be found on pages 33 and 34.
ECONOMIC FACTORS AND NEXT YEAR'S BUDGET
The most significant economic factor for the District is the State of Oregon's State School Fund formula. The formula consists of a General PUipose Grant, a Transportation Grant, and certain local revenues. For the year ended June 30, 2012 the State School Fund General Purpose Grant provided 75 percent of the District's total revenues, and 84 percent of the District's General Fund revenues. The District is expecting flat revenue from the State School Fund for the year ended June 30, 2013, based on current projections for the 2011-2013 biennium from the State of Oregon Legislative Revenue Office. The state economic forecast reveals a slow recovery and slight increase in State School funding for the District for the next few biennia.
The District is currently in negotiations with the classified association since the current collective bargaining agreement ends June 30, 2013. Heallh insurance costs are anticipated to have a double digit increase in premium rates.
Total average daily membership in 2011-2012 decreased slightly, 41 ADMI, from the previous year. Eirrolhnent is expected to decrease in 2013-2014 due to the closure of the District's only charter school, HomeSource Family Charter, effective June 30, 2013.
The District has analyzed its financial holdings and doesn't anticipate any liquidity problems in the next twelve months.
The District's Budget Committee and School Board considered all of these factors while preparing the District's budget for the 2012-2013 fiscal year.
REQUESTS FOR INFORMATION
Tlris financial report is designed to present the user (citizens, taxpayers, investors, and creditors) wilh a general overview of !he District's finances and to demonstrate the District's accountability. Questions concerning any of the infonnation provided in this report or requests for additional infonnation should be addressed to the District's Director of Business Services, at 4640 Barger Drive, Eugene, and Oregon 97402.
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BASIC FINANCIAL STATEMENTS
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON STATEMENT OF NET ASSETS JUNE 30, 2012
ASSETS
Cash and investments
Receivables
Inventories
Capiral assets not being depreciated
Land
Capital assets, net of accwnulated depreciation
Buildings
Equipment and vehicles
Total Assets
LIABILITIES
Accounts payable and accrued liabilities
Unearned revenue
Refunding bond payable
Accrued compensated absences payable
Accrued interest
Long-te1m liabilities
Portion due within one year
Portion due in more than one year
Other post employment benefit obligation - early retirement
Other post employment benefit obligation - implicit subsidy
Total Liabilities
NET ASSETS
Invested in capiral assets, net of related debt
Res1ricted for debt service
Unrestricted
Total Net Assets
$
$
16,599,249
2,424,127
35,130
2,565,671
40,886,568
644,447
63,155,192
2,929,593
15,267
5,931,511
266,900
39,765
3,675,000
13,450,000
944,343
1,763,244
29,015,623
26,971,686
588,933
6,578,950
34,139,569
771e accompanying notes are an integral part of the financial statements. - 17 -
to balance sustainability efforts through double-sided printing
with aesteheically pleasing formatting,
no content appears on this page by design
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON STATEMENT OF ACTJVI11ES YEAR ENDED JUNE 30, 2012
Progra11z Revenues
FUNCTIONS/PROGRAMS Gover111nental activities:
Instructional services
Support services
Enterprise and community services
Facilities maintenance services
Interest on long-term liabilities
Total Governmental activities
General Revenues:
Expenses
$ 31,164,003
19,391,817
2,170,139
764,784
961,803
$ 54,452,546
Property taxes, levied for general purposes
Property taxes, levied for debt service
Construction excise tax
State school fond
Common school fond
Unrestricted state and local fonds
Earnings on investments
Miscellaneous
Total General Revenues
Change in Net Assets
Net Assets - beginning
Net Assets - ending
Charges
for Services
$ 36,672
110,103
295,732
$ 442,507
Operating Grants and
Contributions
$ 7;222,202
1,519,739
21,607
$ 8,763,548
T'he accon1pa.nying notes are an integral ]Jart o.fthe.fi-nancial state1nents. - 18 -
Net (Expense)
Revenue and
Change in Net Assets
$ (23,905,129)
(17,761,975)
(1,852,800)
(764,784)
(961,803)
( 45,246,491)
12,040,513
4,267,847
76,936
27,621,735
567,476
389,885
136,170
1,213,796
46,314,358
1,067,867
33,071,702
$ 34,139,569
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON BALANCE SHEET- GOVERNMENTAL FUNDS JUNE 30, 2012
Special Revenue
General Special Pmjects ASSETS
Cash and investments $ 7,222,616 $ 2,304,680
Property taxes receivable 913,104
Other receivables 296,107 123,889 Inventories
Total Assets $ 8,431,827 $ 2,428,569
LIABILITIES AND FUND BALANCE Liabilities:
Accounts payable $ 1,749,890 $ 16,430
Accrued salaries and benefits 1,087,700 Deferred revenue 889,819
Unearned revenue
Refunding bond payable
Total Liabilities 3,727,409 16,430
Fund Balance:
Non-spendable inventory
Restricted for debt service
Committed to:
Grants
Food services
Insurance services
Assigned to:
Special projects 2,412,139 Unassigned 4,704,418
Total Fund Balances 4,704,418 2,412,139
Total Liabilities and Fund Ba lances $ 8,431,827 $ 2,428,569
Debt Service
$ 6,161,960
398,249
$ 6,560,209
$
388,299
5,931,511
6,319,810
240,399
240,399
$ 6,560,209
Other
Gover1zn1ental
Funds
$ 909,993
692,778
35,130
$ 1,637,901
$ 75,573
15,267
90,840
35,130
858,431
369,988
283,512
1,547,061
$ 1,637,901
Total
$ 16,599,249
J ,311,353
1,112,774
35,130
$ 19,058,506
$ 1,841,893
1,087,700
1,278,118
15,267
5,931,511
10,154,489
35,130
240,399
858,431
369,988
283,512
2,412,139
4,704,418
8,904,017
$ 19,058,506
The accon1JJGnJ1ing notes are an 1:ntegral ]Jart o_f the financial staten1,ents. - 19 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON RECONCILIATION OF GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET ASSETS JUNE 30, 2012
FUND BALANCES
Capital assets are not financial resources and therefore are not reported in the governmental funds:
Cost Accumulated depreciation
A poiiion of the District's property taxes are collected after year-end but are not
available soon enough to pay for the current years' operations, and therefore are not reported as revenue in the govenur:cntal funds.
Long-term liabilities not payable in the current year are not reported as governmental
fund liabilities. Interest in long-tenn debt is not accrued in the govemn:cntal funds, but rather is recognized as an expenditure when due. T1Jese liabilities consist of:
Accrued interest payable
Compensated absences payable
Bonds payable Otherpostemployn--ent benefit obligation - early retirement
Other posten:iploy~nt benefit obligation - implicit subsidy
TOTAL NET ASSETS
$ 66,980,975
(22,884,289)
(39,765)
(266,900)
(17,125,000)
(944,343)
(l,763,244)
The accompanying notes are an integral part of the financial statements. - 20 -
$ 8,904,017
44,096,686
1,278,118
(20,139,252)
$ 34,139,569
to balance sustainability efforts through double-sided printing
with aesteheically pleasing formatting,
no content appears on this page by design
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2012
Special Revenue
General Fund Special Projects REVENUES
Debt Service
Local sources $ 12,148,321 $ 1,306,762 $ 4,261,806 Intermediate sources 106,667 181,609
State sources 31,064,581 I 1 ,970 Federal sources 349,493 46,632
Total Revenues 43,669,062 1,546,973 4,261,806
EXPENDITURES Current
Ins true ti on 26,301,279 970,182
Support services 17,568,069 493,500
Enterprise and co1rununiiy services 85,158 41,101
Facility maintenance services 4,231 Debt Service:
Principal 9,575,000 Interest 961,623
Capital outlay 374,617
Total Expenditures 43,954,506 1,883,631 10,536,623
EXCESS (DEF'ICIENCY) OF REVENUES OV.BR EXPENDITURES (285,444) (336,658) (6,274,817)
OTHER FINANCING SOURCES (USES) Transfers in 'fransfers out (977,634)
Total Other Financing Sources (Uses) (977,634)
NET CHANGE IN FUND BALANCES (1,263,078) (336,658) ( 6,274,817)
FUND BALANCES, beginning 5,967,496 2,748,797 6,515,216
FUND BALANCES, ending $ 4,704,418 $ 2,412,139 $ 240,399
Other
Gover111nental
Funds
$ 506,172 130,003 184,213
5,389,541
6,209,929
3,888,372
1,309,222 2,016,559
7,214,153
(1,004,224)
977,634
977,634
(26,590)
J,573,651
$ 1,547,061
Total
$ 18,223,061 418,279
31,260,764 5,785,666
55,687,770
31,159,833
19,370,791 2,142,818
4,231
9,575,000 961,623 374,617
63,588,913
(7,901,143)
977,634 (977,634)
(7,901,143)
16,805,160
$ 8,904,017
1/1e accon11Janying notes are an. integral jJart of the financial state1nents. - 21 ..
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON RECONCIUATION OF THE STATEMENT OF REVENUES, I::.'.XPENDITURES Ah'D CHANGES IN FUND BALAllCES OF GOVEi<NMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES YEAR ENDED JUNE
NET CHANGE LV FUND BALANCES - (Govemme11tal Fu1tds) $ (7,901,143)
Ckivcmmenial funds report capltal outlay as expenditures. IIov.1ever, in the Statement of Activities the cost of those assets is allocated overtheirestimated useful lives and reported as depreciation expense. This is the rumunt by v.·hich capital outlays exceeded depreciation in the current period.
Expenditures for capital assets $ Loss on disposition of assets Less current year depreciation
Long-term debt proceeds are reported as other financing sourc:es in governrrental
funds. In the Statement ofNet Assets, however, issuing long-term debt increases liabilities, Similarly, repayrnont of principal is an expenditure in the gove1mn:ntal funds but reduces the liability in the Statemont ofNet Asset,, 111is is the aimunt
by which repay=nts exceeded proceeds: Debt principal repaid
ln the Siaterrent of Activities interest is accrued on long~termdebt, whereas
in the govemrrental funds it is recorded as an interest expense when due.
Property taxes that do not nX!et the measurable and available criteria are not
recognized as revenue in the current year in the govemrrcntal funds. In the
Staten-x;11t of Activities property taxes are recognized as revenue when levied.
Early retiren:ent incentives are recognized as an expenditure in the govemrr.cntal fund v,;hen they are paid. In the Staterrent of Activities early ret.irerixnt incentives are rec.ognb-..ed as expenditures when earned.
Compensated absences are recognized as an expenditure in the governn'.rental fund
when they are paid. ln the Staten"X!nt of Activlties compensated absences are recognized as expenditures when earned.
CHANGEINNETASSETS
374,617 (3,120)
(1,215,518)
The accompanying notes are an integral part of the financial statements. -22-
(844,021)
9,575,000
(180)
212,935
(3,424)
28,700
$ 1,067,867
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATE'MENTS YEARENDEDJUNE 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Bethel School District No. 52 (the District) is a municipal corporation gove.med by a separately elected seven-member Board of Directors. Adir~nistrative officials are approved by lhe Board. The daily functioning of the District is under the supervision of the Superintendent-Clerk. As required by accounting principles generally accepted in the United States of America, all activities of the District have been included in the basic financial statements.
The District has granied a charter to one public chaiter school, Homesonrce Family Charter School. 111is public charter school is a legally separate, tax-exempt organization governed by its own board of directors, and its financial statements may be obtained from its administrative office.
'lbe District has early implemented GASI3 Statement No. 61, 11ze Financial Rep011ing Entity: Omnibus. 'The Statement provides requirements for including, presenting, and disclosing infonnation about component units and equity interest transactions of a financial reporting entity. Tiie Distiict bas no oomponent units that meet the criteria for reporting under GASB Statement No. 61.
Ba,·fa· of Presentation
Goverrunent-tvide Financial State1nents
The Statement of Net Assets and the Statement of Activities display information about the District. 'I11ese statements include the governmental financial activities of the overall District. Eliminations have been made to minimize the double counting of internal activities. Governmental activities are financed primarily through prope11y taxes, intergovernmental revenues, and charges for services.
The Statement of Activities presents a comparison between direct expenses and pro&'Tam revenues for each of its functions/programs. Dire.ct expenses are those that are specifically associated with a function and, therefore, are clearly identifiable to that funclion. Eliminations have been made to minimize the double counting of intemal activities in the Stalement of Activities, except that interfund services are not eliminated. Program revenues include: (!) charges to students or others for tuition, fees, rentals, material, supplies or services provided and (2) operating grants and contributions and (3) capital grants and contributions. Revenues that are not classified as program revenues, iEcluding property taxes and state support, arc presented as general revenues.
Net assets are reported as restdcte.d when constraints placed ou net asset use arc either externally restricted, imposed by creditors (such as through grantors, contribulors or laws} or through constitutional provisions or enabling resolutions.
Fund Financial Statements
The furul financial statements provide information about the District's funds. Separate statements for each govennnental fund category are presented. The emphasis of fund financial statements is on major governmental funds, each being displayed in a separate colwnn. All remaining governmental funds are aggregated and reported as other governmental funds.
-23
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JTJNE 30, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Basis of Presentation (Continued}
Fund Financial Statements (Continued)
The District reports the following major governmental funds:
General Fund - This is the District's primary operating fund and accounts for all revenues and expenditures except those required to be accounted for in another fund. Principal revenue sources are an apportionment from the State of Oregon and property taxes.
Special Projects Fund - This fund is used for various special progrdms administered by the District. Principal revenue sources are fees from student activities.
Debt Service Fund - This fund accounts for the payment of principal and interest on geaeral obligation bonded debt. P1incipal revenue sources are property taxes.
In addition, the District reports the following as nonmajor governmental funds:
Grants Fund - This fund is used to account for the expenditures and receipts of various federal grants. These grants include, but are not limited to the following: ESEA Chapter 1, ESEA Chapter I Migrant, ESEA Chapter 2, Vocational Edncation, and Drug and Alcohol Program.
Food Service Fund TI:Us fund acrounts for tbe various food service programs provided by the District. The sale of food and Federal reimbursements administered by the State are the major rev~nue sources.
Insurance Reserve Fund - This fund accounts for insurance related activities. The major source of revenue is from interfund transfers or insurance claim proceeds.
Jfeasurement Focus a.nd Basis of Accounting
Government·wide financial statements are reported using the economic resources measurement focus and the accrual basis of acrounti.ng. Revenues are recorded when earned and expenses are recorded at !be time !ia bilities are incurred, regardless of when the related cash flows take place. Non-exchange transactions, in which the District receives value without giving equal value in exchange, include property taxes, grants, entitlements and donations. On the accrual basis of accounting, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from &mmts, entitlements, and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Under terms of grant agreements, the District fonds certain programs by a combination of specific cost· reimbursement grants and general revenues.
'Thus, when program expenses are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the District's policy to first apply cost-reimbursement grant resources to such progran1S and then genL>ral resources.
-24 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COU:VTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JlJNE 30, 2012
SUALtf.ARY OF SIGNIFIC41VT ACCOUNTING POLICIES (Continued)
.Measurement Focus and Basis ojAccounting (Continued)
Governmental fund financial statements are reported using the current financial resources measurement focus and modified accrual basis of accounti11g. Under this method, revenues are recognized when measurable and available. The District considers all revenues reported in the governmental funds to be available if they are collected within sixty days after year-end. Property taxes and interest are considered to be susceptible to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and u1tercst on general long-term debt and claims and judgments, which are recognized as expenditures to U1e ext~'Ilt they have matured. Capital asset acquisitions are reported as expenditures in the governmental funds and proceeds from general longtenn debt and acquisitions under capital leases arc reported as other financhig sources.
Cash mui l11vestments
The District's hivestrnents consist of tllne certificates of deposit, banker's acceptances, commercial paper, U.S. Government Agency securities, and the State of Oregon Treasurer's Local Government Investment Pool (WlP). Time certificates of deposit are stated at cost which approximates fair value. Banker's acceptances, commercial paper and U.S. Government Agency securities are slated at amortized cost which approximates fair value. The LGlP is stated at cost which approximates fair value.
Property Taxes Receivable
Property taxes are levied and become a lien on July L Collection dates are November 15, Februmy 15, and May 15 following the lien date. Discounts arc allowed if the amount due is received by November 15 or February 15. Taxes impaid and outstanding on May 16 are considered delinquent.
Uncollected property laxes are recorded on the statement of nel assets. Uncollected taxes are deemed to be substantially collectible or recoverable through liens; therefore, no allowance for uncollectible taxes bas been established. All propeity taxes receivable are due from property owners within the District
Accounts mui Other Receivables
Acco1:11ts and other receivables are comprised primarily of state school suppmt and claims for reimblU"Sement of costs nnder various federal and state grants.
Grants
Unreimbursed expenditures due from grantor agencies are reflected in the basic fmancial statements as receivables and revenues. Grant revenues are recorded at the time eligible expenditures are incurred. Grant monies received prior to the occurrence of qualifying expenditures arc recorded as unearned revenue.
lnven.tories
Inven1ories of supplies and materials in the governmental funds are stated at cost Jnventrnics of food and supplies are valued at invoice cost (first-in, fust-.out). Inventoried items are charged to expenditures of1J1e user dcpa1iment at the time of witbdrawal from inventory (consumption method). Commodity invc.11tories are not nxoordcd as title to them is not considered to pass to the District until they arc consumed.
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Capital Assets
Capital assets are recorded at original or estimated original cost. Donated capital assets are recorded at their estimated fair market value on the date donated. The District defines capital assets as assets with an initial cost of more than $5,000 and an estimated life in excess of one year.
Capital assets are depreciated using the straight-line method over the following useful lives:
Buildings and improvements Equipment and vehicles
Retirement Plans
20 to 60 years 3 to 20 years
Substantially all of the District's employees are participants in the State of Oregon Public Employees Retirement System (PERS). Contributions to PERS are made on a current basis as required by the plan and are charged as expenses/expenditures as funded.
The District also offers its employees a tax deferred annuity plan established pursuant to Section 403(h) of the Internal Revenue Code and a deferred compensation plan established pursuant to Section 457 of the Internal Revenue Code.
Other Post-Employment Benefits
The District currently maintains an early retirement program which provides for payment of stipends and/or health insurance benefits to qualified employees. The District's employees who elect retirement are entitled to participate in the Dist:Iict's group medical insurance plan as provided by Oregon Revised Statntes.
Compensated Absences
It is the District's pohcy to permit employees to accumulate earned hut unused vacation and sick pay benefits. There is no liability for unpaid accumulated sick leave payment from the District does not have a policy to pay any amounts when employees separate from service with the District. All unused vacation pay is accrued when earned in the govermnent-wide financial statements. These obligations will he paid from the fund from which employee wages are charged. A liability for these amounts is reported in the governmental funds only if they have matured, for example, as a result of employee resignation and retirements. Compensated absences will be paid from general revenues and are expected to be paid within 12 months.
Governmental Fund Balances
In the govermnental fmancial statements, fund balances are reported in classifications· that comprise a hierarchy based primarily on the extent to which: the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent.
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEARENDEDJUNE 2012
SDMJ,fAlU' OF SIG}v1FICANT ACCOUNTING POLICIES (Continuedj
Governmental Fund Balances (Continued)
Governmental Fund type fund balances are classified as follows:
• Nonspendable - Amounts that cannot be spent either because they are in a nonspendable form or because they are legally or contractually required to be maintained intact. Resources in nonspendable fom1 include inventories, prepaids and deposits, and assets held for resale.
• Restricted - Amounts that can be spent only for specific purposes when the corntraints placed on the use of these resources are either: (a) externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislation.
• Committed - Amounts that can be used only for specific purposes determined by a fom1al action of the School Board. The School Board can modify or rescind the commitment at any time Un·ough taking a similar fonnal action.
• Assigned - Amounts that are constrained by the District's intent to use them for a specific purpose, bnt are neither restricted nor connnitted, are reported as assigned fund balance. Intent is expressed when the School Board approves which resources should be "reserved" during the adoption of the annual budget The District's Finance Director uses that information to determine whether those resources should be classified as assigned or unassigned for presentation in the District's Annual Financial Report.
• Unassigned - All an1ounts not included in other spendable classifications. This residual classification represents fond balance that has not been restricted, committed, or assigned within the General Fund. This classification is also used to report any negative fond balance amounts in other governmental funds.
Definitions of Governmental Fund Types
The General Fund is used to account for all financial resources not accounted for i11 another f1.llJd. In addition, certain fonds bndgeted as Special Revenue Funds are reported as pmt of the General Fw1d because their source of funds is primarily transfers from the General Fund.
Special Revenue Funds are used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects. The term "proceeds of specific revenues sources" means that the revenue sources for the fund must be from restricted or committed sources, specifically that a substantial portion of the revenue must be from these sources and be expended in accordance with those requirements.
Capital Projects Funds arc used to account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets.
Debt Service Funds arc used to account for and report financial resomces that are restricted, eommi!ted, or assigned to expenditure for principal and interest. Debt service funds should be used lo report rcsoarces if!egally mandated. Financial resources that are being accumulated for principal and interest maturing in future years should al so be rep01ied in debt service fonds.
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Use of Restricted Resources
When an expense is incurred that can be paid using either restricted or unrestricted resources (net assets), the District's policy is to first apply the expense toward restricted resources and then toward unrestricted resources. In governmental funds, the District's policy is to first apply the expenditure toward restricted fund balance and then to other, less-restrictive classifications----cmmnitted and then assigned fund balances before using unassigned fund balances.
Long-term Debt
In the goverrunent-wide financial statements long-term debt is reported as a liability in the Statement of Net 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, which approximates the effective interest method. Bonds payable are repmted net of the applicable bond premium or disconnt.
In the fund financial statements bond premiums and disconnts, as well as bond issuance costs, are recognized when incurred and not deferred. The face amount of the debt issued, premiums received on debt issuances, and discounts are reported as other financing sources and uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.
Budget
A budget is prepared and legally adopted for each goverrnnental fund type on the modified accrual basis of accounting. The budgetary basis of acconnting is the same as acconnting principles generally accepted in the United States of America for the governmental fund types, except that capital outlay expenditures, including items below the District's capitalization level, are budgeted by major function in goverrnnental fund types. The resolution authorizing appropriations for each fund sets the level by which expenditures cannot legally exceed appropriations.
Appropriations are established at the major function level (instruction, support services, enterprise and commnnity services, facilities acquisition and construction, debt service, operating contingency and transfers) for each fund. The detail budget document, however, is required to contain more specific, detailed information for the aforementioned expenditure categories. Unexpected additional resources may be added to the budget through the use of a supplemental budget and appropriation resolution.
Supplemental budgets less than 10% of a fund's original budget may be adopted by the Board at a regular meeting. A supplemental budget greater than 10% of a fund's original budget requires hearings before the public, publication in newspapers and approval by the Board. Original and supplemental budgets may be modified by the use of appropriation transfers between the levels of control. (major function levels) with Board approval. During the year, two appropriation transfers were made and no supplemental budgets were adopted. Appropriations lapse at the end of each fiscal year.
Use of Estimates
The preparation of basic financial statements, in conformity with accounting principles generally accepted in the United Stales of America, requires management lo make estimates and assumptions that effect the reported
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR E'NDED JUNE 30, 2012
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Use of Estimates (Co11ti11uetl)
amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the basic financial statements and reported amounts of revenues and expenses/expenditures during the reporting period. Actual results may differ from those estimates.
CASH AND INVb'STMENTS
The District maintains an internal cash and investments pool that is available for use by all funds.
Cash and investments are comprised of the following as of June 30, 2012:
Cash anti Deposits
Cashon hand
Deposits witl1 fmancial institutions
[n,vesfJtie11ts
Local Government Investment Pool
Deposits
$
$
Canying Value
l,4DO
186,874
16,410,975
16,599,249
Fair Value
$ 1,400
186,874
16,410,975
$ 16,599,249
At June 30, 2012, the Disbict's deposits with various financial institutions had a bank value of $1,242,053. All deposits not covered by FDIC insurance are covered by the Public Funds Collateralization Program (PFCP) oflhe Slate of Oregon.
Custodial Credit Risk- Deposits
This is the risk that in the event of a bank failure, the District's deposits may not be returned. The Federal Depository Insurance Corporation (FDIC) provides unlimited insurance for the District's deposits with financial institutions for the aggregate of all non-interest bearing accounts and up to $250,000 for the aggregate of all interest bearing accounts at each institution. Deposits in excess of FDIC coverage arc with institutions participating in the Oregon Public Funds Collateralization Program. The PFCP is a shared liability structure for participating bank depositories, better protecting public funds though still not guaranteeing that all funds are 100% protected. Barring any exceptions, a bank depository is required to pledge collateral valued al least 10% of their quarter-end public fund deposits if they are well capitalized, 25% oflheir quarter-cud public fund deposits if they are adequately capitalized, or 1I0% of their quarter-end public fund deposits if they are undercapitalizcd or assigned lo pledge 110% by the Office of the State Treasurer. In the event of a bank failure, the entire pool of collateral pledged by all qualified Oregon public funds bank depositories is available to repay deposits of public funds of goverrm1ent entities. As of J1me 30, 2012, $484,844 of the Disliicl's bank balances were exposed to custodial credit risk as paii of the Public Funds Collalcralizalion Program.
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANC1AL SJATEMElfl'S (Continued) YEARENDEDJUNE 2012
CASH AND ll\'VESTl>fENTS (Continued)
Credit Risk
Oregon Revised Statutes authorize school districts to invest in obligations of the U.S. Treasury, agencies and instrumentalities of the United States, commercial paper, bankers' acceptances guaranteed by a qualified financial institution, repurchase agreements, interest bearing bonds of any city, county, port or school district in Oregon (subject to specific standards), and the Oregon State Local C10vemment Investment Pool, among others. The Board of Education has adopted an investment policy for U1e District, which complies with state statutes, as it relates to the credit risk of investments.
Investments
As of June 30, 20 l 2, the District held the following investments and maturities:
Investment type Fair Value
Local Government Investment Pool $ 16,410,975
Weighted
average
maturity ill years
0.003
%of investment
portfolio
1000%
The "weighted average maturity in years" calculation assumes that all investments are held until maturity.
The Oregon Local Government Investment Pool is unrated. At June 30, 2012 the District's investments were rated as follows:
Rating by Moody's lnvestme1'tf Aaa Aal Aa3 Not rated Total
Local C'"'lvemment Investment Pool $ $ 16,410,975
Interest Rate Risk
In accordance with its investment policy, the District manages its exposure to declines in fair value of its investments hy structuring the investment portfolio, so that securities mature to meet the cash flow needs of ongoing operations. The District's investment policy also limits investments as follows:
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BETHE'L SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
CASH AND INVESTMENTS (Continued)
Interest Rate Risk (Continued)
lnveslment iyPe
U.S. Treasury Obligations U.S. Government Agency Securities Banker's Acceptances Certificate of Deposits Repurchase Transactions Cornmerical Paper Corporate Notes Local Government Inveslment Pool
Maximum% of
portfolio
100.0% 100.0% 25.0% 25.0% 25.0% 25.0% 10.0%
100.0%
Maximum length to
matruity
18 months 18 months 18 montl1S 18 months 18 months 18 months 18 montl1S
1 day
The LGIP investment is limited by Oregon Statute to an amount in excess of $40 million, which amonnt will increase proportionately to the Portland Consnn1er Price Index. TI1c limit can be temporarily exceeded for ten business days and does not apply either to pass-through funds or to fnnds invested on behalf of another govermnental unit.
The State Treasurer of the State of Oregon maintains the Oregon Shmt-tenn Fnnd, of which the Local Government Investment Pool is part. Participation by local govermnents is volnntary. The State of Oregon investment policies are governed by statute and the Oregon Investment Council. In accordance with Oregon Statutes, the investment funds are invested as a prudent investor wonld do, exercising reasonable care, skill and cantion. The funds deposited in the Local Government Investment Pool arc recorded at cost, which approximates fair value. At Jnne 30, 2012, the fair value of the position in the Oregon State Treasurer's Shmt-term Investment Pool was approximately eqnal to the pool shares. The funds in the Local Government Investment Pool are not snbj ect to risk evaluation.
Custodial Risk - Investments
For an investment, this is the risk that, in the event of a failnre of the counterparty, the District will not be able to recover the valne of its investments or collateralized securities that are in the possession of an ontside pmty. The District's investment policy limits the types of investments that may be held and does not allow securities to be held by the counterparty.
The LGIP is administered by the Oregon State Treasury with the advice of other state agencies and is not registered with the U.S. Securities and Exchange Commission. The LGIP is an open-ended no-load diversified pmtfolio offered to any agency, political subdivision, or public corporation of the state that by Jaw is made the custodian of; or has control of any funds. The LGIP is commingled with the State's short-term funds. fo seeking to best serve local governments of Oregon, the Oregon Legislatnre established tl1e Oregon Short-tern1 Fund Board, which has established diversification percentages and specifies the types and matmities of the investments. The purpose of the Board is to advise the Oregon Staie Treasury in the management and investment of the LGIP. These i1westments within the LGIP must be invested and managed as a prudent investor would, exercising reasonable care, skill and caution. Professional standards indicate that the investments in external investment pools are not subject to custodial risk because they are not evidenced by sccmities that exist in physical or book entry fonn. Nevertheless, management does not believe that there is any substantial custodial risk related to investments in the LGIP.
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUND', OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
CAPITAL ASSETS
Capital assets activity for the year was as follows:
Balance
Ju/yl,2011 Additions Capital assets not being depreciated:
Land $ 2,435,000 $ 130,671
Capital assets belng depreciated:
Buildings and imp1uverocnts 62,694,259 195,934
Equipment 215,211 48,012 Vehicles 1,269,088
Total Capital Assets Being Depreciated 64,178,558 243,946
Less accumulated depreciation for:
Buildings and irnprove~nts (20,886,313) (1,117,312)
Equipment (123,880) (23,794)
Vehicles (662,658) (74,412)
Total Accumulated Depreciation (21,672,851) (1,215,518)
Total Capital Assets Being Depreciated, net 42,505,707 (971,572)
Total Captial Assets, net $ 44,940,707 $ (840,901)
Depreciation expense for the year was charged to the following programs:
Program Instructional se:rvices Support services
Pupil transportation Other support se:rvices
Enterprise and community se:rvices
Facilities maintenance se:rvices
Total
- 32 -
Deletions
$
(7,200)
(7,200)
4,080
4,080
(3,120)
$ (3,120)
Balance
June 30, 2012
$
$
$
$
2,565,671
62,890,193
263,223
1,261,888
64,415,304
(22,003,625)
(147,674)
(732,990)
(22,884,289)
41,531,015
44,096,686
745
47,677
3,495
27,320
1,136,281
1,215,518
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
LONG-ThilM Dh!JT
The following is a swnmary of long-term debt transactions dwing the year ended Jnne 30, 2012:
Balance
Original July],
Issue 2011 Additions
General obllgation bonds -
2002 $ 3 7,265,000 $ 20,715,000 $
General obligation bonds -
2011 5,985,000 5,985,000
Total $26, 700,000 $
General obligation bonds - issued August 2002, due in annuaJ
installments of$905,000 to $3,555,000, plus interest paid seini-annuaJly at
2.50% to 5.0% through 2020.
General obligation bonds - issuecl June 2011, due i11 annual
installments of$l,975,000 to $2,010,000, plus interest paid se.ini-annually at
0.40% tol.35% through 2014.
Balance
June 30,
Reductions 2012
$ 7,565,000 $ 13,150,000
2,010,000 3,975,000
$ 9,575,000 $17,125,000
$ 13,150,000
3,975,000
$17,125,000
Due
1f'ithin One Year
$ 1,785,000
1,890,000
$ 3,675,000
General obligation bonds are direct obligations and pledge the full faith and credit of the District. 'I11e District issues general obligation bonds to provide funds for the acquisition and construction of District school facilities.
Future debt service requirements are as follows:
Fiscal Year Ending June 30, Principal Interest Total
2013 $ 3,760,000 $ 658,186 $ 4,418,186
2014 3,935,000 535,493 4,470,493 2015 2,090,000 395,354 2,485,354
2016 2,265,000 311,754 2,576,754
2017 2,440,000 218,323 2,658,323
2018 2,635,000 114,623 2,749,623
$ 17,125,000 $ 2,233,733 $ 19,358,733
- 33 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC 1'7NANCIAL STATEM.BlvTS (Continued) YEAR EJVDED JUNE 30, 2012
LONG-TERM DEBT(Continued)
Compensated absences activity for the year is as follows:
Outwmding July 1, 2011
Outstanding Amount Due Increases Decreases June 30, 2012 in One Year
$
INTERFUND TRANS.PERS
Interfund transfers for the year ended June 30, 2012 are as follows:
Tra rufers In Tramfers <zut
General $ $ 977,364 Other governmental funds
Grants 977,364
$ 977,364 $ 977,364
The District transferred $977,364 from the General Fund !o the Grants Fund to provide support to the HomeSource charter schooL
PENSION PLAN
The Distlict contlibutes to two pension plans adroinistered by the Oregon Public Employees Retirement System (PERS). The pa1iicipate in tbe school district "pool", as all school districts in Oregon are considered to be one employer. The Oregon Public Employees Retirement Fund (OPERF) applies to the District's contlibution for qualifying employees who were hired before August 29, 2003, and is a cost sharing multiple-employer defined benefit pension plan. 'foe Oregon Public Service Retirement Plan (OPSRP} is a hyblid successor plan lo the OPERF and consists of two programs:
l. 111e Pension Program, the defmed benefit portion of the plan, applies to qualifying District employees hired after August 29, 2003. Benefits are calculated by a fommla for members who attain normal retirement age. The fonnula takes into account final average salary and years of service.
2. Beginrung January 1, 2004, all PERS member contiibutions go into the Individual Account Program (IAP), the defined con111bution portion of !he plan. PERS members retain their existing PERS accounts, but any foture member contlibutions are deposited into the member's IAP, not the member's PERS aecoun!.
- 34 -
BETHEL SCHOOL DISTRICT NO. 51, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
PENSION PLAN (Continued)
Both PERS plans provide retiremem and disability benefits, pos!employment healthcare benefits, annual cost-ofliving adjustments, and death benefits to plan members and bcneficiaiics. PERS is administered un<k-r Oregon Revised Statute Chapter 238, which establishes the Puhlic Employees Retirement Board as the governing body of PERS. PERS issnes a publicly available fmancial rep01t that ir:cludes financial statements and required supplementary information. The report may be obtained by writing to PERS, P.O. Box 73, Portland, Oregon 97207-0073 or by calling 503-598-7377.
Funding Policy
Members of PERS are required to contribute 6.00% of their salary covered under the plan, which is invested in the OPSRP Individual Account Program. The District is required by ORS 238.225 to centributc at an actuarially determined rate for the qualifying employees under the OPERF plan, and a general service rate for the employees for the qualifying employees under the OPSRP plan. The OPERF and the OPSRP rates in effect for the year ended June 30, 2012 were 19.48% and 17.97% respectively. The contribution requirements for plan members arc established by ORS Chapter 238 and may be amended by an act of the Oregon Legislature.
Annual Pension Cost
Cunent Jaw pen:nits employers to pay employee contributions to the Retirement Fund. The District has elected to contribute the 6% "pick-up" or $1,442,652, $1,456,148, and $1,477,1!8, of the employees' contiibutions for the years ended Jnne 30, 2012, 2011and2010, respectively. Total payroll was $25,867,982 and covered payroll was $23,878,890 for the year ended June 30, 2012. The District's contribulions to PERS, exclusive of the 6% "pickup," for the years ended June 30, 2012, 201Iand2010 were $4,611,267, $3,565,220, and $3,599,008, respecHvely, which equaled the required contributions for each year.
OTllE"R POSTEMPLOYMENT BENEFITS (OPEBs)
The Distiict has implemented GASB Statement 45, Accounting and Financial Reporiing by Employers for Postemployment Benefits Other Than Pensions (OPEB). This implementation allows the Distiict to report its liability for other postemployment benefits consistent with established generally accepted accorn1ting principles and to reflect an ac!uarially detennined liability for the presen! value of projected future benefits for retired and active employees in U1e financial statements.
Early Retirement Progra111 (ERP)
Stipend Benefits
Desc.ription - l11e District maintains a single-employer early retirement supplement program for eligible employees of the District. The program genera!ly cevers staff that have completed twelve years of continuous service and have reached retirement age. Gpon reaching age 58, an employee may elect retirement. In addition, an employee may elect to retire as early as age 55 with a reduced stipend. A stipend is paid to the participant until age 62, unless !he Dir<trict receives notification of eligibility for unemployment payments filed with the State Employment Services. At that time, stipend payments cease, Early retirement benefits are recorded as expenditures when paid, For 201 l ·12, a total of $135,189 was paid to 42 retirees. The District docs not issue a stand,alone report for this plan.
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
OTH~ER POST EMPLOYMENT BENEFITS (OPEBs) (Continued)
Early Retirement Program (ERP) (Continued)
Stipend Benefits (Continued)
Funding Policy - The benefits from this program are fully paid by the District and, consequently, no contributions by employees are required. 111e program is not accounted for in a pension trust fund; therefore, designated funds are not legally restricted to pay future benefits. The activities of the program are reported in the General Fund.
Health Insurance Benefits
Descriptiou - The District maintains a single-employer early retirement health insurance supplement program for eligible employees of the District. The program generally covers staff that have completed twelve years of continuous service and have reached retirement age. Upon reaching age 58, an employee may elect retirement. In addition, an employee may elect to retire as early as age 55. A premium is paid for the participant until age 62, unless the District receives notification of eligibility for unemployment payments filed with the State Employment Services. At that time, insurance payments cease. Early retirement benefits are recorded as expenditures when paid. For 2011-12, a total of $856,224 was paid for 75 retirees. The District does not issue a stand-alone report for tl1is plan.
Funding Policy - The benefits from this program are fully paid by the District and, consequently, no contributions by employees are required. The activities of the program are reported in the General Fund.
Annual ERP OPEB Cost and Net ERP OPEB Obligation - The District's rumual ERP other postemployment benefit cost (expense) is calculated based on the a1mual required contribution of the employer (ARC), an runount determined in accordance within the parameter of GASB 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 closed period not to exceed thirty years. The following table shows the components of tile ERP OPEB obligation at tile end of the year:
2012 2011 2010 Annual required contribution $ 854,463 $ 882,683 $ 852,834 Interest on net pension obligation 77,375 75,815 74,350 Adjustment to annual required contribution (142,870) (152,173) (138,216)
Annual ERP OPEB cost 788,968 806,325 788,968
Estimated contributions (960,112) (767,303) (752,357)
Increase (decrease) in net ERP OPES obligation (171,144) 39,022 36,611
Net ERP OPEB obligation at beginning of year 1,934,388 1,895,366 1,858,755
Net ERP OPEB obligation at end of year $ 1,763,244 $ J ,934,388 $ J,895,366
-36-
BETHEL SCHOOL DISTJUCTNO. 52, LANE COUNTY, OREGON NOTES TO BASIC FlNANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 30, 2012
OTHER POST EMPLOYMENT BENEFITS (OPEBs) (Continued)
Early Retirement Program (ERP) (Continued)
Health Insurance Benefits (Continued)
The Disllict's ammal ERP OPEB cost, the contribution, the percentage of annual ERP OPEB cost contributed to the plans, and the net ERP OPEB obligation for 2012 were as follows:
Percentage of Annual ERP Net ERP
Fiscal Year Annual ERP OPEB C'A>st OPEl3 Ended June 30 OPEB cost Conttibution Contributed Obligation
2010 $ 788,968 $ 752,357 95.4% $ 1,895,366
2011 806,325 767,303 95.2% 1,934,388 2012 788,968 960,112 121.7% 1,763,244
Methods and Assumptions - The projected umt credit actua1ial cost method was used to determine contribution levels for the retiree benefits. Contribution levels are comprised of two components: nonnal cost and amortization payments. Under this method, the expected accrued benefit of each participant at benefit connnencement (reflecting future expected increases in stipends and medical premiums) is allocated u1 equal proportion over the participant's years of service from hll·e to expected retirement. The nonnal cost is the present value of benefits expected to accrue in the cun-ent year.
The present value of benefits accrued as of the valuation date is called the accrned liability. The difference between the accrued liability and the actuarial value of plan assets is called the w1funded accrned liability. Tbe unfunded accrued liability is being amortized over an uritial period of six years as a level percentage of payroll for stipend benefits, over 16 years for explicit medical benefits, and over 30 years as a level percentage of payroll for implicit medical benefits.
In the July 1, 2011 actuarial valuation, the projected umt credit actuarial cost method was used. The asswnptions included a discow1t rate of 4.0 percent. They also assume annual premium increase rate would be 8.0 percent for the cun-ent year, grading down to an annual rate of 5.0 percent after J 0 years which is consistent with expeclations for long-tenn health care cost uiflation. The demographic assumptions, such as mortality rates, disability incidence rates, retirement rates, and withdrawal rates, are the same as those used by Oregon PERS for School Districts.
Postemployment Health J11surance Subsidy
Plan Description - The District operates a single-employer retiree benefit plan that provides postemployment health, dental, vision and life insurance benefits to eligible employees and their spouses. There are 627 active and 75 retired members. Benefits and eligibility for members are established through the collective bargaining agreements. The Dist1ict does not issue a stand-alone report for tlris plan.
The District's post-retirement healthcare plan was established in accordance with Oregon Revised Statntes (ORS) 243.303. ORS stipulate that for the purpose of establishing healthcare premiums, the rate must be based on all plan n1cn1bcrs, including bot11 active eJnployces a11d retirees. 1'he difference bet\vcen retiree c]ain1s costs, \:Vhjch because of the effect of age is generally higher in comparison lo all plan members, and the amount of retiree healthcare premiums represents tbc Dishict's implicit employer contribution.
- 37 -
BE11lh'L SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC P1NANC1AL STATElvtENTS (Continued) YEARENDEDJLWE30, 2012
OTHER POST EMPLOYME1VT BENEFITS (OPEBs) (Continued)
Po!·;temploymellt Health Insurance Subsidy (Continued)
The District did not establish an irrevocable trust (or equivalent arrangement) to account for the plan. Instead, the activities of the plan are reported in the General Fund.
Funding Policy - Tbe benefits from this program are paid by the retired employees on a self-pay basis and the required contribution is based on projected pay-as-you go financing requirements. There is no obligation 011 the part of the District to fu.'1d these benefits in advance.
Auuual OPEB Cost and Net OPEB Obligation - The District's annual other posternployment benefit cost (expense) is calculated based 011 the annual required contribution of the employer (ARC), an amount detcnnined in accordance within the parameter of GASB 45. The ARC represents a level of ti.Jnding that, if pald on an ongoing basis, is projected to cover 1101mal cost each year and amortize any unfunded liabilities (or funding excess) over a closed period not to exceed thirty years. The following table shows the components of the OPEB obligation at the end of the year:
2012 2011 2010 Annual required contribution $ 720,995 $ 800,854 $ 773,772 Interest on net pension obligation 30,791 18,9!7 5,043 .A..djust1nent to annual requlred contribution (27,492) (17,432) (4,503)
Annual OPEB cost 724,294 802,339 774,312
Estimated contributions (549,726) (505,498) (427,455)
Increase in net OPEB obligation 174,568 296,841 346,857
Net OPEB obligation at beginning of year 769,775 472,934 126,077
Net OPEB obligation at end of year $ 944,343 $ 769,775 $
The District's annual OPEB cost, the contribution, the percentage of annual OPEB cost contributed to the plans, and the net OPEB obligation for 2012 were as follows:
Percentage of Fiscal Year Annual (Estimated) Annua!OPEB Net OPEB
Ended June 30 OPEBcost Cost Contributed Obligation
2010 s 774,312 s 427,455 55.2% $ 472,934 201 I 802,339 505,498 63.Q~/o 769,775 20l2 724,294 549,726 75.9% 944,343
- 38
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO BASIC FL'iANCIAL STATEMElvTS (Continued) YEAR EJlDED JUNE 30, 2012
OTHER POST ~EMPLOYMENT BENEJ<7TS (OPEBs) (Continued)
Postemployme11t Health J11sura11ce SubsiJy (Continued)
Methods and Assumptions - The projected unit credit actuarial cost method was used to detenrine contribution levels for the subsidized retiree health benefits. Contribution levels are comprised of two components: normal cost and amortization payments. Under this method, the expected accmed benefit of each participant at benefit commencement (reflecting future expected illcreases in salaries and medical premiums) is allocated in equal proportion over the participant's years of service from hire to expected retirement TI1e nonnal cost is the present value of benefits expected to accrue in the current y<>-<1L
The present value of benefits accmed as of the valuation date is called the accmed liability. The difference between the accrued liability and the actuarial value of plan assets is called the unfunded accrued 'liability. The unfunded accrued liability is being amortized over an initial period of six years as a level percentage of paywll for stipend beneft!s, over 16 years for explicit medical benefits, and over a closed 30 year peliod as a level percentage of payroll for implicit medical benefits.
In the July I, 2011 valuation, the projected unit credit actuarial cost meiliod was used. The assumptions included a discount rate of 4.0 percent They also assume annual premium increase rate would be 8.0 percent for the cunent year, grading down to an annual rate of 5.0 percent after 10 years which is consistent with expectations for long~ tern1 health care cost inflation. The demographic assumptions, such as mortality rates, disability incidence rates, retirement rates, and withdrawal rates, arc the same as those used by Oregon PERS for School Districts.
Funded Status and Funding Progress - As of July I, 2011, the most recent actuarial valuation date, for the period ended June 30, 2012; the District's actuarial accrued liability (AAL) for benefits was $8,306,794, and the actuarial value of assets was $-0-, resulting in an unfunded actuarial liability (UAAL) of $8,306, 794. The covered payroll had not been detemlined as of the time of the actuarial report. T11e schedule of funding progress, presented as required supplementary infonnation following the notes to the financial statements, presents multiycar trend information about wbet11er the actuarial value of the plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits.
Retirement Health Insurance Account
Plan Description - As a member of Oregon Public Employees Retirement System (OPERS) the District con!!ibutes to the Retirement Health Insurance Account (RIUA) for each of i\s eligible employees. RIHA is a costsharing multiple-employer defmed benefit other posternployrnenl benefit plan admnlistered by the OPERS. RIHA pays a monthly contribution toward the cost of Medicare compa1lion health insurance prenliums of eligible retirees. The plan, wllich was established under Oregon Revised Statutes (ORS) 238A20, provided for a payment of up to $60 per month toward the costs of Mediear·e companion heallh insurance for eligible retirees. A comprehensive annual fmancial report of the funds administered by the OPERS may be obtained by writing to Oregon Public Employees Retirement System, PO Box 23700, Tigard, OR 97281-3700 or by accessing the PERS website at www.oregon.gov/PERS/.
Funding Policy - Participating school disllicts are contractually required to contribute at a rate assessed each year by \he OPERS, cuffe:ntly 0.59% of amrnal covered OPERF payroll and 0.50% of covered OPSRP payrolL The OPERS Board of TrnstP,es sets the ra1es based on the annual required contribution (ARC) of lhe en1ployers, an amount actualially de1ernlined in accordance with the parameters of GASB Statement 45. 'l11c ARC represents a level of fu11ding 1J12t, if paid on an 011golng basis, is projected to cover nor1nal cost eacJ1 year and an1ortize cny rmfunded actuarial liabilities (or funding excess) of the plan over a period not to exceed tlli1iy years TI1c District's
39 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COU.¥TY, OREGON NOTES TO BA51C FINAJvCIAL STATEMENTS (Continued) YEAR t.7-IDET> JUNE 30, 2012
OTHER POST EllJ.PLOYMENT BENEFITS (OPEBs) (Continued)
Retirement Ileafth insurance Account (Continued)
contributions to RHIA for the years ended June 30, 2012, 201 I and 2010 were $130,i40, $73,189, and $47,651, which equaled the required contributions each year.
CLAIMS AND LITIGATION
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal and state governments. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amounts, if any, or expenditures which may be disallowed by the grantor agencies cannot be determined at this time although the District expects such amounts, if any to be immaterial.
Management has represented that there are no contingent liabilities that require disclosure or recognition in accordance with Accounting Standards Codification (ASC) No. 450-20. Such contingent liabilities would include, but would not be confined lo: notes or accounts receivable which have been discounted; pending suits; proceedings, hearings, or negotiations possibly involving retroactive adjustments; unsatisfied judgments or claims; taxes in dispute; endorsements or guarantees; and options.
SUBSEQUENT EVENTS
The District follows the provisions of Accounting Standards Codification (ASC) No. 855 "Subsequent Events". ASC 855 establishes new accounting and disclosure requirements for subsequent events. Management has evaluated subsequent events through December 31, 2012, the date on which the financial statements were available to be issued. Management is not aware of any subsequent events that require recognition or disclosure in the financial statements.
NEW PRONOUlVCEMENTS
The District will implement new GASB pronouncements no later than the required fiscal year. Management has not determined the effect on the financial statements from implementing any of the pronouncements.
GASB Statement No. 62 "Codifa:ation of AccDunting and Financial Reporting Guidance Contained in PreNovember 30, 1989 FASB and AlCPA Pronouncements." The objective of this Statement is to incorporate into GASB's authoritative literature cc11ain accounting and financial reporting guidance !hat were issued on or before November 30, 1989, which do not conflict with or contradict GASB pronouncements. The statement is effective for fiscal years beginning after December 15, 2011.
GASB Statement No. 63 "Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and N'et Position." The statement provides guidance for reporting deferred outflows of resources, deferred inflows of resources, and net position in a statement of financial position. The statement is effective for fiscal years beginning after December 15, 2011.
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BETHEL SCHOOL DISTRICT NO. 52, LANE CO(]NTY, OREGON NOTES TO BASIC FINANCIAL STATEMENTS (Continued) YEAR ENDED JUNE 3 0, 2012
NEW PRONOUNCEMENTS (Continued)
GASB Statement No. 68 "Accounting and Reporting for Pension Plans-an amendment of GASB Statement No. 27." The statement establishes accounting and financial reporting requirements related to pensions provided by gove1mnents. The statement is effective for fiscal years begimling after J1me 15, 2014 .
. 41 ..
REQUIRED SUPPLEilfEWTARY lNFORMATJON
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BETHEL SCHOOL DISTRICT NO. 52, LANE COlTNTY, OREGON SCHEDULE OF REVENUES, EXPE7'1DITURES A1'1D CHANGES IN FUND BALANCESBUDGET AND ACTUAL - GENERAL FUND YEAR £'NDED JUNE 30, 2012
Actual
Budgeted Amounts Budget and
Original FiJ1al GAAP Basis
REVENVES
Local sources $ 11,926,438 $ 11,926,4 38 s 12,148,321
1nter1nediate sources 41,356 41,356 106,667
State sources 30,714,023 30,714,023 31,064,581
Federal sources 376,847 376,847 349,493
Total Revenues 43,058,664 43,058,664 43,669,062
EXP b7VI>ITURES Instruction 27,178,701 26,978,701 26,301,279
Support scrvices 17,586,129 17,506,129 17,568,069
Enterprise alld community services 43,784 123,784 85,158
Debt Service:
Principal 50 50
Operating contingency 1,050,000 1,050,000
Total Expenditures 45,858,664 45,658,664 43,954,506 ---
EXCbC'."S (I>EFICIENCY) OF
REVENUbC'.' OVl:::"R EXPENI>ITURES (2,800,000) (2,600,000) (285,444)
OTHh'R FINANCING SOURCES (USES) ·rransfers in 100,000 100,000
Transfers out (800,000) (1,000,000) (977,634)
Total Other Financing Sources (Uses) (700,000) (900,000) (977,634)
NET CHANGE IN FUND BALANCE (3,500,000) (3,500,000) (1,263,078)
FUND BALANCE, beginning 3,500,000 3,500,000 5,967,496
FUND BALANCE, ending $ $ $ 4,704,418
«::ee notes to required SU)/j)len1entaJ}' inforn1ation. 42 -
Variance
with Final Budget
$ 221,883
65,311
350,558
(27,354)
610,398
677,422 (61,940)
38,626
50 1,050,000
1,704,158
2,314,556
(100,000)
22,366
(77,634)
2,236,922
2,467,496
$ 4,704,418
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF REVENUES, EXPENDITTJRES AND CHANGES IN FUND BALANCES -BUDGET AND ACTTJAL - SPECIAL PROJECTS FUND YEAR ENDED JUNE 30, 2012
Actual Budgeted Amounts Budget Vari.a11ce u1itlt
Original Final Basi• Final Budget REVENUES
Local sources $ 1,600,000 $ 1,600,000 $ 1,306,762 $ (293,238) Inter111edjate sources 250,000 250,000 181,609 (68,391) State sources 20,000 20,000 11,970 (8,030) Federal sources 60,000 60,000 46,632 (13,368)
Total Revenues 1,930,000 1,930,000 1,546,973 (383,027)
EXPENDIIURES Instruction 1,156,000 856,000 970,182 (114,182) Support services 387,000 687,000 541,512 145,488 Enterprise and co1n1nu1llty services 70,000 70,000 41,101 28,899 Facilities acquisition and construction 1,617,000 1,617,000 330,836 1,286,164 Capital outlay
Total Expenditures 3,230,000 3,230,000 1,883,631 1,346,369
EXCESS (DEFICIENCY) OF
REVENUES OVER EXPENDITURES (1,300,000) (1,300,000) (336,658) 963,342
FUND BALANCE, beginning 1,300,000 1,300,000 2,748,797 1,448,797
FUND BALANCE .. ending $ $ $ 2,412,139 $ 2,412, 139
Budget to
GAAP Differences
$
$
( 48,012)
(326,605)
374,617
ActualGAAP
Basis
$
$
1,306,762
181,609
11,970
46,632
1,546,973
970,182
493,500
41,lOl
4,231
374,617
1,883,631
(336,658)
2,748,797
2,412,139
/::i~ee notes to required SUj)J_J/en1enfal); £nforn1atfon. - 43
BETHEL SCJ!OOL DISTRICT NO. 52, LANE CO£lNTY, OREGON NOIES TO REQUIRED SUPPLEJfENTARY JNFOR"1ATION YEAREJv7JEDJUNE 30, 2012
BUDGETARY BASIS ACCOUNTING
The District accounts for certain transactions on a budgetary basis which differs from GAAP basis. A description of the principal differences between the budgetary basis and GAAP :iJ.1 recording and reporting transactions follows:
USDA Commodity Inventory
Properties acquired by long-tenn
fmancing such as
from capital leases
or instaUment contracts
Classification of expenditures by
character
Budgetary Basis
USDA commodity inventory is recorded at cost when received and the assigned value is recognized as
revenue and expenditures when used.
Only the current year's payment is recorded as a capital ontlay expenditure of the fund in which payments are budgeted.
The charactL'T of expenditures (current expenditures, capital outlay, debt
service) is reported at the object level. Budgets and appropriations are made
for each major function.
Basis
Revenue is recognized for the difference in cost and assigned value when
conllilodities are received,
The net present value of the total stream of payments is recorded in the fnnd from
which payments will he made as an expenditure in the year of acquisition witll a corresponding offset to other
fmancing sources. Subsequent payments on the obligations are recorded as debt service expenditures.
F.xpenditures are classified and reported
by charact~,- ( cunent expenditures,
capital outlay and debt service) within the fmancial statements.
EXCESS OF EXPENDITURES OVER APPROPRIATIONS
Oregon law prohibits expenditures in excess of board approved appropriations. The board approves appropriations for each fund by major function. For the year ended June 30, 2012, expenditures of major funds exceeded appropriations as follows:
Fund/Appropriati.on Catego1y Appropriation Expe";_if iture Variance
General fund Support services s 17,506,129 s 17,568,069 $ (61,940)
Special projects Instruction 856,000 970, 182 (114,182)
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF FUNDING PROGRESS FOR OTHER POSTEMPLOYMENT BENEFITS JUNE 30, 2012
Other postemployment benefit obligation - early retirement:
Unfunded
Actuarial Actuarial
Accrued Accrued Funded Covered Valuation Date Assets Liability Liability Ratio Payroll
July 1, 2009 $ $ 7,028,303 $ 7,028,303 0.0% TBD
July 1, 2011 7,580,911 7,580,911 0.0% TBD
Other pos!employment benefit obliga!ion - implicit subsidy:
Unfunded
Actuarial Actuarial
Accrued Accrued Funded Covered
Valuation Date Assets Liability Liability Ratio Payroll
July 1, 2009 $ $ 8,089,706 $ 8,089,706 0.0% TBD July 1, 201 l 8,306,794 8,306,794 0.0% TBD
- 45 -
UAAL/
Payroll
TBD
TBD
UAAL/
Payroll
TBD
TBD
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OTlIER SUPPLEMENTARY INFOR}l-IATION
BETJIEL SCHOOL DISTRICT NO. 52, LANE COIJNTY, OREGON COMBINING BALANCE SHEET - NOJvl.WOR GOVERNMENTAL FUNDS JUNE 30, 2012
Special Revenue
Food Insurance
Grants Service Reserve ASSETS
Ca sh and inves1ments $ 337,004 $ 287,850 $ 285,139 Other receivables 608,580 84,198 Inventories 35,130
Total Assets $ 945,584 $ 407,178 $ 285,139
LIABILITIES AND FUND BALANCE Liabilities:
Account~ payable $ 71,886 s 2,060 $ 1,627 Unearned revenue 15,267
Total Liabilities 87,153 2,060 1,627
Fund Balance: Non-spendable inventory 35,130 Committed to:
Grants 858,431 Food services 369,988 Insurance services 283,512
Total Fund Balance 858,431 405,118 283,512
Total Liabilities and Fund Balance $ 945,584 $ 407,178 $ 285,139
- 46 -
Tot.al
$ 909,993 692,778
35,130
$ 1,637,901
$ 75,573 I 5,267
90,840
35,130
858,431 369,988 283,512
1,547,061
$ 1,637,901
BETHEL SCHOOL DISTRICT NO. 52, LANE COUJVTY, OREGON COMBINL"IG STATEMENT OF REVE7VUES, EXPENDITURES AND CHANGES JN FUND BALANCES -NONMAJOR GOVbl?NAfENTAL FWvDS Yb"AR ENDED JUNE 30, 2012
Special Revenue
Food btsura11ce
Grants Ser1>ice Reserve Total
REVENUES
Local sources $ 173,456 $ 329,592 $ 3,124 $ 506,172 Intcnnediate sources 130,003 130,003
State sources 153,085 31,128 184,213
Federal sources 3,813,157 1,576,384 5,389,541
Total Revenues 4,269,701 l,937,104 3,124 6,209,929
EXPENDITURES Instruction 3,888,372 3,888,372
Support services 1;276,672 32,550 l,309)22
Enteq)rise and comn1unity services 52,721 1,963,838 2,016,559
Total Expenditures 5)17,765 1,963,838 32,550 7,214,153 -~-·--
hXCESS (DEFI<-1ENCY) OF.REVENUES OVER EXPENDITURES (948,064) (26,734) (29,426) ( 1,004,224)
OTHER FINANCING SOURCES (USES) Transfers jn_ 977,634 977,634
NET CHANGE IN FUND BALANCES 29,570 (26,734) (29,426) (26,590)
FUND BALANCh"'S, beginning 828,861 431,852 312,938 1,573,651
FUND BALANCl!."'S, ending '.!: 858,431 $ 405,l l 8 $ 283,512 $ 1,547,061
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL -DEBT SERVICE FUND YEAR ENDED JUNE 30, 2012
Budgeted Amounts Original Final
Actual Budget and GAAP Basis
Variance with Final Budget
REVENUES
Local sources $ 4,102,909 $ 4,102,909 $ 4,261,806 $ 158,897
.EXPENDITURES
Debt Service
Principal
Interest
Total h.xpenditures
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
FUND BALANCE, beginning
FUND BALANC.l!.~ ending $
*Not an expencliture in excess of appropriations
9,810,000
792,909
10,602,909
( 6,500,000)
6,500,000
- 48-
$
9,810,000
792,909
10,602,909
( 6,500,000)
6,500,000
9,575,000
961,623
10,536,623
(6,274,817)
6,515,216
$ 240,399 $
235,000
(168,714) •
66,286
225,183
15,216
240,399
BETHBL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF REVElvTJES, l.APENDJTURES AND CHANGES IN FC/ND BALANG'ES -BUDGET AND ACTUAL - GRANT'S FUND YEAR El\IDED JUNE 30, 2012
Actual
Budgeted Amounts Budget and Variance with
Original Final GAAPBasis Final Budget
REVENUES Local sources $ 265,000 $ 265,000 $ 173,456 $ (91,544)
Intermediate sources 1,122,000 1,122,000 130,003 (991,997)
State sources 1,500,000 1,500,000 153,085 (l,346,915)
Federal sources 5,400,000 5,400,000 3,813,157 (1,586,843)
Total Revenues 8,287,000 8,287,000 4,269,701 (4,017,299)
l!XPENDIFURES Instruction 7,886,000 7,886,000 3,888,372 3,997,628
Support services 2,099,000 2,099,000 1,276,672 822,328
Enterprise a'ld community services 102,000 102,000 52,721 49,279
Total Expenditures l0,087,000 10,087,000 5,217,765 4,869,235
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (1,800,000) (1,800,000) (948,064) 851,936
OTHER FINAll'ClNG SOURl-7:.'S (USES)
Tra'lsfers in 800,000 800,000 977,634 177,634
NET CHANGE L~ FffND BALANCE (l,000,000) (l ,000,000) 29,570 1,029,570
FDND BALANCE, begimii11g 1,000,000 1,000,000 828,861 (171,139)
FUND BALANCE, ending $ s ' $ 858,431 $ 858,431
49-
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHE:DULE OF REVE'NltES, EXPENDITURES AND CHANGES IN FUND BALANCES-BUDGET AND ACTUAL-FOOD SERVICE FUND YEAR ENDJ:.JJ JUNE 30, 2012
Actual Budgeted Amounts Budget and Variance with
Original Final GAAPBasis Final Budget
REVENlJES
l.JJcal sources $ 550,000 $ 550,000 $ 329,592 $ (220,408)
State sources 25,000 25,000 31 ,128 6,128
Federal sources 1,750,000 l ,750,000 1,576,384 (173,616)
Total Revenues 2,325,000 2,325,000 1,937,104 (387,896)
EXPENDITiJRF.S Enterprise and community services 2,575,000 2,575,000 1,963,838 611,162
Operating contingency 50,000 50,000 50,000
Total Expenditures 2,625,000 2,625,000 1,963,838 661,162
EXCESS (DB'FlClENCY) OF REVENUES OVER EXPENDITURES (300,000) (300,000) (26,734) (l,049,058)
OTHER FINANCING SOURCES (USES) Transfers out (100,000) (100,000) 100,000
NET CHAN(iE JN FUlVD BALANCE (400,000) ( 400,000) (26,734) (949,058)
FlJlVD BALANCE, beginning 400,000 400,000 431,852 31,852
FUND BALANCE, ending s $ $ 405,118 $ 405,ll 8
50
BETIIEL SCHOOL JJISTRJCT NO. 52, LANE CXJUl>JTY, OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGETAND ACTUAL-INSURANCE RESERVE FUND YEAR E:NDED JUNE 30, 2012
Actual Varia11ce
Budgeted Amounts Budgeta11d with Fi11al
Original Final GAAP Basis Budget
REVl!.'NUES Incal sources s 500 $ 500 $ 3,124 $ 2,624
EXPENDITURES
Instruction J ,000 1,000 1,000
Support services 279,000 279,000 32,550 246,450
Total Expenditures 280,000 280,000 32,550 247,450
J3XL'ESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES (279,500) (279,500) (29,426) (244,826)
FUND BALANCE, begm11i11g 279,500 279,500 312,938 33,438
FUND BALANCE, ending $ $ $ 283,512 $ 283,512 ,.
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BETHEL SCllOOL DISTRICT NO. 52, LANE COlIJ\'TY, OREGON SCHEDULE OF REVENUES, J:,APENDJTURES AND CHANGES JN FUND BALANCES-BUDGET AND ACTUAL (BUDGETARY BASIS) - GEN£"RAL FUND YEAR ENDED JTJJ1/E 30, 2012
Code Function Actual Budget f/arian.ce ---LOCAL REVENUES
1111 Current y ear1s taxes $ 11,577,497 $ 11,563,335 $ 14,162
ll 12 Prior yem-·s taxes 195,986 178,716 17,270
li90 Penalties and interest on taxes 91,386 91,386 1200 Revenue frorn local govern.rnc:nLal units other than districts 6,814 9,000 (2,186) 1500 Earnings on investments 101,916 99,460 2,456
1910 RC!:itals 2,626 2,625 1940 Services p~ovided other local education Ug\-"'Ucics 18,576 18,576 1960 Recovery of prior years' expenditures 3,031 2,000 l,031 1990 M iscellancous 150,489 7!,302 79,187
1000 Total Local Revenues l2,148,3ZJ 11,926,438 221,883
INTERMEDIATE REVENUES 2101 County school funds 106,667 41,356 65,31 l
STATE REVENUES 3101 State school fund - general support 27,621,735 27,645,101 (23,366) 3103 Coinmon school fund 567,476 502,917 64,559
3222 State school fund (SSF) transportation l,420,733 l,519,735 (99,002) 3299 Otber restricted grants-in-aid J,454,637 l,046,270 408,367
3000 Toto! State Revenurs 31,064,581 30,714,023 350,558
FEDERAL REVENUES 4500 Resilicted reve:Jue from ihe federal govern1ncnt through the sta1e 17,519 17,519
4801 Federal forest fees 331,914 376,847 (44,873) ~-----
4000 Total f<'ederal Revenues 349,493 376,847 (27,354)
OTHER SOURCES 5200 Interfu.nd transfers 100,000 (100,000)
5400 FUJ\.'D B.4L4iVCE~ Beginning of year 5,967,496 3,500,000 2,467,496
6000 Total Resources $ 49,636,558 $ 46,658,664
52 (Continued)
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL (BUDGETARY BASIS) - GENERAL FUND (Continued) YEAR ENDED JUNE 30, 2012
JOO 200 300 Eniployee Purchased
Code Fundion Salaries Benejils Sen-•ices INSTRUCTION
l 100 Ri::gular programs 1111 Primary, K-3 $ 5,655,105 $ 3,271,423 $ 22,778 1112 Intermediate programs 65,953 31,128 1,547 1113 Elementary extracurricular 3,777 2,624 1121 MJddle/junior high programs 2,559,165 1,519,138 11,474 1122 Middle/jooior high school extracurricular 22,027 13,661 1131 High school programs 2,951,066 1,696,589 32,979 1132 High school extracurricular 317,423 121,997 3,922 1200 Special programs 1210 Programs for the talented and gifted 399 61 2,211 1250 Resource rooms 3,065,967 1,898,676 332,929 1270 Educationally disadvantaged 6,611 2,262 1280 Alternative education 359,222 206,644 890,825 1290 Designated programs 630,018 362,949 1,447 1400 Summer school programs 16,760 3,260
1000 Total Instruction 15,653,493 9,130,412 1,300,112
SUPPORT SERVICES 2100 Siudents 2110 Attendance and social \\Urk services 33,516 25,090 104,909 2120 Guidance services 781,022 469,081 177 2130 Health services 240,330 186,652 1,587 2140 Psychological services 20, 750 13,451 2190 Service direction, student support services 153,197 93,523 2200 Instructional staff 690,222 467,001 35,632 2300 General administration 366,380 210,792 176,991 2400 School administration 2,345,650 1,491,050 32,328 2500 Business 2520 Fiscal services 271,447 173,721 9,177 2540 Operation and maintenance of plant services 1,34 8,569 920,181 1,826,342 2550 Student transportation services 560,753 415,369 1,065,534 2600 Central activities 2630 Information services 159,837 97,980 186,298 2640 Siaff services 24,031 20,461 2660 Technology services 175,073 105,524 324,464 2700 Supplemental retirement program 135,189 860,625
~·~--···----···~---·- -· -~---··-·--·~- -·-··-···-······"-··-·
2000 Total Support Services 7,305,966 5,550,501 3,763,439
ENTERPRISE AND COMMUNITY SERVICES 3300 Community services 3310 Direction of community services activities 48,323 36,835
OTHER USES 5200 Transfers of funds
6000 OPERATING CONTING1"'NCY
7000 r-VND BALANCE, End of year
8000 Total Expenditures and Ending Balance $ 23 007 782 $ 14 717 748 $ .\ 063 551
400 500 600 700 Actual Sitpplies & Capua/ Other Fund .Af ateriafs Outlay Objects Appropn"ations Variouce
$ 93,900 $ $ $ $ 9,043,206 1,709 100,337
223 6,624 27,467 4,117,244
1,171 36,859 38,576 9,420 4,728,630 13,570 1,200 458,112
157 2,828 23,232 298 5,.321, 102
8,&73 5,067 1,461,758 1,022 995,436
250 20,270
206,344 10,918 26,301.279 $ 26,978, 701 $ 677,412
2,241 165,756 56\J 1,250,840
9,343 532 438,444 34,201
246,720 65,067 4,464 1,262,386
8,835 16,928 779,926 14,092 18,J 33 3,901,253
2,383 13,811 470,539 274,248 234,861 4,604,201 156,653 19,727 2,218,0.16
82,748 526,863 44,492
21,537 2,000 628,598 995,814
637,707 310,456 17,568,069 17,506,129 (61,940)
85,158 123,784 38,626
977,634 977,634 1,000,050 22,416
) ,050,000 l,050,000
4,704,418 ------- 4,704,418 (4,704,418)
$ 844 051 $ 49 636 558 $ 46 658,664 $ (2 916,8521
'53 -
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF REVENUES, EXPJTNDITURES AND CHANGES IN FUND BALANCb"S -BUDGET AND ACTUAL (BUDGETARY BASIS) - SPECIAL PROJECTS FUND YEAR ENDED JUNE 30, 2012
Code Fu11ctio11 Actual Bu.dget J7ariance LOCAL REVENUES
1123 Pcna]tjes and interest on local option taxes $ $ 200,000 $ (200,000)
1130 Construction excise tax 76,936 76,936 1500 E.arnings on investinents 1,797 20,000 (18,203) 1700 Extracunicular activities 15,065 30,000 (14,935)
1800 c:om1nunity services activities 12,947 12,947 1910 Rentals 107,477 150,000 (42,523) 1920 Contributions and donations fTom private sources 131,334 200,000 (68,666)
1990 M isce1lanc.ous 961,206 1,000,000 (38,794)
1000 Total Local Revenues 1,306,762 1,600,000 (293,238)
INTERMEDIATE REVENUES 2199 Other intennediate sources 180,747 180,747 2200 Restricted revenue 862 250,000 (249,138)
2000 Total lnterrnediate Revenues 181,609 250,000 (68,391)
STATE REVENUES 3204 Driver education 11,970 20,000 (8,030)
FEDERAL REVENUES 4500 Restricted revenue froin the federal govcrrunent through the state 44,424 30,000 14,424 4700 Grants-in-aid fro1n the federal goveinment through other
intennediate agencies 2,208 30,000 (27,792)
4000 Total Federal Revenues 46,632 60,000 (13,368)
5400 FUND BALANCE, Begi1111i11g of year 2,748,797 1,300,000 1,448,797
6000 Total Resources $ 4,295,770 $ 3,230,000 $ 1,065,770
- 54 -(Continued)
BETIIELSCHOOLDISTRICT NO. 51, LANE COTJNTY, OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALA1vCES BUDGET AND ACTUAL (BUDGETARY BASIS) - SPECIAL PROJECTS FUND (Continued) YEARJ:,WDEDJT.JNE 30, 2012
JOO 200 300 Employee Pun::hased
Code Function Sal_aries Benefits Se:rvic.es JNSTRUC170N
l!OO Regular programs 11! 1 Priml!I)', K-3 $ 3~157 $ 19,094 $ 35,062 1121 M iddk.ljunior high program.' 12,597 12,100 2!,9!8 l 122 l..1 iddle/junior high school exiracurr:icular 2,996 1,075 l 131 High school programs 880 213 149,027 1200 Special programs 1280 Alte:native education l,462 1290 Designated progratru 65,386 25,610
!000 Total instruction ll4,016 58,092 207,469
SUPPORT SERVICES 2100 Students 2110 A ttcndance and social work services 3,977 2130 Health services 513 j '7'l ,. 44,850 2200 Instructional staff 37,J 75 22,373 180,078 2400 School ad.Jninjstrat ion 457 2500 Business 2520 Fiscal services 667 2540 Opermion and maintenance of plant services 17,403 2,535 2550 Student transportation services 1,336 2600 Central activities. 2630 Information services 17,215 2660 Technology services 594
2000 Tot.al Support Services 55,091 25,080 249,)74
ENTERPRISE AND COMMUNITY SERVICES 3100 Food services 31 !O Service area direction 62 22 3300 Con))nunity services 3310 Direction of oorr:ununity services activities 13,959 6,981
3000 Total Enterprise and Cornn; unity Services 14,021 7,003
FACJUTIES ACQUISITION AND CONSTRUCTION 4120 Site acquisition arld develop1nent services
7000 FUND BALANCE, Bild of year
8000 Total Expenditures and Ending Bain nee $ $ 90,175 $ 456,643
400 500 600 700 ActJ1al Supplies& Capital Other Fund Mtilerials Outlay Objects Tmnsfers Total Appropriations Variance
$ i03,430 $ $ $ $ 189,743 72,673 l 19,288
6,840 1,000 l 1,91 J 397, 754 547,874
4,086 5,548 4,822 95,818
589,605 l,000 970,182 $ 856,000 $ (l14,l82)
3,977 5,0)3 391 50,939 9,866 249,492 3,898 4,355
135 802 10,630 30,568
1,336
239 17,454 181,995 182,589
211~776 391 54 J ,5 J 2 687,000 145,488
5,188 5,272
I I ,889 3~000 35,829
17,077 3,000 41,101 70,000 28,899
330,836 330,836 J,6}7,000 l,286,164
2,412,139 (2,412,139)
$ 818,458 $ s 2,412,139 $ s 220,394
- 55'
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUl'/TY, OREGON SCHEDULE OF REVh71fUES, EXPENDITVRES AND CHANGES IN FUllfD BALAllfCES -BUDGET AND ACTUAL (BUDGETARY BASIS) - DEBT SERVICE FUND YEARENDEDJt:JNE 30, 2012
Code Funcllon Actual Budgd LOCALREVENVES
l ll l Current year1s taxes $ 4;141,565 $ 4,102,909
ll 12 Prior year's taxes 88,991 1500 Earnings on lnvcst1nents 31,250
1000 Total Loca] Revenues 4,261,806 4,102,909
5400 FUND BAIANCh~ Beginning of year 6,515,216 6,500,000
6000 Total Resources $ 10,777,022 $ 10,602,909
Variance
$ 38,656
&8,991 31,250
l 58,897
15,216
s 13
(Continued)
BETFIELSCHOOLlJISTRICT NO. 52,LANE COUNTY, OREGON SCHEDULE OF REVENUES, EXPEliDITURES AND CHAlvGES IN FUND BALANCES·· BUDGET AND ACTUAL (BUDGETARY BASJS)-DEBT SERVICE FUND (Continued) YEAR ENDED JUNE 30, 2012
Code Function 011fERUSES
51 {)[) Debt se:rvice
7000 FUND BAIANCE, Enrl of year
8000 Total Expenditures and Ending Balance
JOO
Salaries
$
$
$
$
100 EmplOJ-1ee Benefits
$
$
300 Purclwsed
Services
120
120
400 500 600 700 Ac/Ual Supplies& Capital Other Fund il1t1terials Outlay Objer:is TnutJ.fers Total Appropriations Variance
$ $ $ !0,536,503 s $ 10,536,623 $ 10,602,909 $ 66,286
24-0,399 240,399 (240,399)
$ $ $ 10,536,503 $ 10,777,022 $ i0,602,909 $ (l07,827)
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BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES JN FUND BALANCES, BUDGET AND ACTUAL (BUDGETARY BASIS) - GRANTS FUND YEAR ENDED JUNE 30, 2012
Code Function Actual Budget Va1iance
LOCAL REvENUES 1200 Ilevenue fro1n local governmental units other than districts $ 53,340 $ 50,000 $ 3,340
1500 Ea.'11ings Oil investnient.s l,207 15,000 (13,793)
1920 Contlibutions and donations from private sourct."S 53,794 50,000 3,794
1990 M iscellaneons 65,l 15 150,000 (84,885)
1000 Total Local Revenues 173,456 265,000 (91,544)
INTERMEDIATE REVENUES 2200 Rcstrlctcd revenue 49,458 962,000 (912,542)
2800 Revenue in Heu of taxes 80,545 160,000 (79,455)
2000 Total Intermedi11te Revenues 130,003 l,122,000 (991,997)
STATE REVENUES 3!01 State school fund - general support 900,000 (900,000)
3222 State school fund (SSF) traasportalion 99,006 99,006 3299 Other revenue·· state sources school llnprovement 54,079 600,000 (545,921)
3000 Total State Revenues 153,085 1,500,000 ( 1,346,915)
FEDER4L REVENUES 4300 Restricted revenue direct frotn the federal govern1nen.t 83,291 250,000 (166,709) 4500 Restrict~ :-cvenue from the fcdcral government through the state 3,390,209 5,000,000 (1,609,791)
4700 Grants-in-aid from the federal goverruncnt through other
lntcnncdiate agencies 339,657 150,000 189,657
4000 Total Federal RL·venues 3,813,157 5,400,000 (1,586,843)
OTHER SOURCES 5200 Intcrfur:d transfers 977,634 800,000 177,634
5000 Total Other Sources 977,634 800,000 l 77,634
5400 FUli!D BAl.A/llCE1 Beginning of year 828,861 l,000,000 (171,139)
6000 Total Resources $ 6,076,196 $ l 0,087,000 $ (4,010,804)
- 58 -(Continued)
BETIIEL SCHOOL DISTRICT NO. 52, LANE COUNTY., OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FGWD BALANCES -BUDGET AND ACTUAL (BUDGETARY BASIS) GRANTS FUND (Continued) YEAR EVI>tv JUNE 2012
JOO 200 300 Employee Purchased
Code Fundi.on Salarie.s Benefit.<,' Sen1fces INSTRUCTION
1100 Regular prograins l JJ l Primary, K~3 $ l,054 $ 216 $ 674 1112 lntermediai e programs 1,137 1113 Elemcntary extracurricular l,1% 126 l 121 M iddle,junior hi!ii programs 4,182 536 777 l 131 High school programs 487 134 1200 Special progpuns
1220 Programs for students with mental disabilities l,389 411 1250 Resource rooms 746,T/9 450,919 28,723 1260 Early intervention 45,614 24,434 1270 Educationally disadvantagod 827,752 454,101 4,277 1280 A.iternative education 319 26 977,634 1290 Designated programs 23 27 83,291
!400 Surn1ncr school programs 2,916 668
1000 Total Instruction 1,631,711 931,598 l,096,513
SUPPORT SERVICES 2100 Students 2110 Attendance and social work services 13,748 8,402 12,362 2120 Guidance services 23,109 17,210 l,533 2130 1-Iealth services 20,169 12,946 63,226 2200 Instructional staff 266,125 145,648 354,953 2500 Business 2520 Fiscal services 120 2540 Operation mid maintenance ofp1ant services 620 2550 Student transpor!.ation services 10,896 2600 Central activities
2620 Planning, research, development, evaluation servires, grant writing and statistical services 3,121 1,096 314
2640 Staff servi::es 2,518 5,952 2660 Technology serv}ccs
2690 Other support services - central 5,206 423 27,286
2000 Total Support Services 333,996 192,297 470,690
ENTERPRJSE AND COMMUNITY SERVICES 3300 Community services
3310 Diroction of co1nmunity services activities 2,694 830 47,964
7000 FUND BALANCE, End of year
8000 Tot.al Expenditures and Ending Balance $ 1,%8,401 $
400 500 600 700 Actual Supplies & Capital Other Fund ltfmeda!s Outlay Objects Tranefen Total Approprit1fio11s Variance
19,493 $ $ $ $ 21,437 12,445 13,582 l,670 2,992
55,150 60,645 15,648 16,269
J,800 ll5,8J l l,342,232
3,000 73;043 2,703 1,288,833
610 978,589 2,020 85,361
3,584
228,550 3,888,372 $ 7,886,000 $ 3,997,628
6,331 40,843 621 42,473
13,574 95,590 205,505 83,601 850,327
!20 620
10,896
130 4,661 8,470
79,782 79,782 60 32,975
--·--·-~---·~- ---····--· .. --184,099 95,590 1,276,672 2,099,000 822,328
1~233 52,721 102,000 49,279
858,431 (858,431)
$ $ $ 858,431
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BETHEL SLHOOL DISTRICT ,\TO, 52, LANE COUNTY, OREGON SCHEDULE OF REVENUES'. E~XPENDI1VIU~S AND CHANGES JN FUND BALANCES-BUDGET AND ACTUAL (BUDGETARY BASIS) - FOOD SERVICE FUND YEARENDEDJfINE 30, 2012
Code Funcliou Actual Budget. J/a1ia11ce
LOCAL REVENUES 1600 Food service $ 295,732 $ 500,000 $ (204,268)
1990 Miscellaneous 33,860 50,000 (l6,J40)
1000 Total J.,oca/ Revenues 329,592 550,000 (220,408)
STATE REVENUES 3102 State school fund - s"'tiool lunch match 21,607 25,000 (3,393)
3299 Other restricted granfs··in~aid 9,521 9,521
3000 Total State Revenues 31,128 25,000 6,128
FEDERAL REVENUES 4100 Unrestricted revenue direct from the federal government 1,600,000 (1,600,000) 4500 Restricted rev~1ue frorn the fi:dcral gnvemmcnt through the state l,430,530 1,430,530 4900 Revenue for/on behalf of the district 145,854 !50,000 (4,146)
4000 Toia! Federal Revenur-s 1,576,384 l,750,000 (173,616)
5400 FUND BALANCE, Beginning ofyenr 43 l,852 400,000 3J,852
6000 Total Resourc,es $ 2,368,956 $ 2,725,000 $ (356,044)
- 60 -(Continued)
BETHEL SCHOOL DISTRICT NO. 52, LANE COT.INTY, OREGON SCHEDULE OF REVENUES~ EXPENDITURES AND CHANGES JN FUND BALAlvCES ·BUDGET Al\fD ACTUAL (BUDGETARY BASIS)· FOOD SERVICE FUND (Continued) YEAR ENDED JUNE 30, 2012
JOO 200 300 Employee Purchased
Code Fundion Salaries Beneji.ls Services ENTERPRISE AND COMMUNITY SERVICES
3 100 Food services 3110 Service area direc'l.ion $ 95,J 77 $ 59,476 $ 747 3120 Food preparation and disp e.nsing services 578,856 296,303 3,494 3130 Food delivery services 34,63 ! 26,674 3190 Other food services
3000 Total Enterprise and CommunfiJ-' Se.rvices 708,664 382,453 4,241
OTHER USES 5200 Transfers of funds
6000 OPERATING CONTINGENCY
7000 FUND BAIANCE, End of year
8000 Ioml Expenditures and Ending Balance $ $ 382,453
400 500 600 700 Actual Supplie;·& Capital Other FuJtd Afaterials Outla,1i Objects Tra 11 :if ers Total .4ppropriations Valiance
s 7,415 $ $ 775 $ $ 163,590
836,515 l,715,168
61,305 23,775 23,775
-·m<~•~
867,705 775 ) ,963,838 $ 2i575,000 $ 61l,l62
!00,000 100,000
50,000 50,000
405, l 18 18
$ 867, 705 775 $ 405,l 18 $ $ 2,725,000 $ 356~044
'61 ''
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BETHEL SCHOOL DISTRICT NO. 52, LA.NE COCINTY, OREGON SCHE,iJULE OF REVEAVES, EXPENDITURES AND CHANGES JN FUND BALANCES -BUDGET AND AC1VAL (BUDGETARY BASIS) - INSURANCE RESERVE FU!vTJ YEAR ENDED JUNE 30, 2012
c,,,u Function Aci.ual Budget LOCAL REVENUES
1990 M iscellarioous $ 3,124 s 500
5400 FUND BALANCE, Beginning "JJ•ear 312,938 279,500
6000 T oral Resources $ $
- 62 -
Variance
$ 2,624
33,438
(Continued)
BETHEL SCHOOL DISTRICT NO. 52, LA~NE COllNTY, OREGON SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTU4L (BUDGETARY BASIS) -INSURANCE RESE'RVE F(JND (Continued) YEAR ENDED JUNE 30, 2012
Code Function INSTRUCTION
1100 Regular programs Jill Primary,K-3
SUPPORT SERYICES 2600 CentraJ ac1 ivities 2640 Staff services-
7000 FUND BALANCE, End of year
8000 Total Expenditures and Ending Bf1/a.nce
100
Salaries
$
$
$
100 Employee Benefits
32,550
$
300 Purrchasetl .~ervices
$
400 Supplies& Materirds
$
51111 Capiwl Outluy
$
600 Ollter
Objects
7110
Trwtife/$
$
283,512
$ 283,512 $
63 ..
Achwl Fund Total
32,550
283,5]2
.4pproprfations
1,000 $
279~000
316,062 $ 280,000 ===~=
Variance
l,000
246,450
(283,512)
21
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BETHEL SCHOOL DISTRICT NO. 52, LANE COlJNTY, OREGON SCH1'uULE OF PROPERTY TAX TRANSACTIONS YEAR ENDED JUNE 30, 2012
Uncollected
.Balauces
Tax l't?ar 2011
2011-2012 $
2010-2011 474,367
2009-2010 279,761
2008-2009 148,385
2007-2008 49,098
2006-2007 16,326
2005-2006 11,193
Prior '!'earn 126,719
Total $ 1,105,849
SUMMARY OF PROPER.TY TAX Rb\IENUE Tax collection sho\Vn above
2011-12
$ 16,657,723
$ 16,657,723
Change in taxes available to m::et cun·ent de:rrnnds, net lnterest Payments in lieu of tax and olheradjustments
Total Tax Revenue (Budgetary Basis)
Reported in: General Fund
Debt Service Fund
64
Interest,
Disco u11ts &
Adjustments
$ 462,556 $
18,828
8,669
5,703
2,272
2,365
1,996
14,291
$ 516,680
Turnovers
15,650,144 $
143,261
32,073
79,347
27,872
2,193
(689)
1,338
$ 15,935,539 $
U11co/lected
Balances June 30, 2012
545,023
312,278
239,019
63,335
18,954
11,768
9,886
111,090
1,311,353
$ 15,935,539 (3,083) 4,464
$ l l ,864,869 4,230,556
$ 16,095,42~
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF BOND AND BOND INTEREST COUPON TRANSACTIONS YEAR ENDED JUNE 30, 2012
Interest Date of Rates Issue
BOND PRINCIPAL TRANSACTIONS General obligation bonds - Series 2000 2.50% - 5.00% 8/22/2002 General obligation bonds - Series 2011 .40% - 1.35% 6/1/2011
Interest Date of Rates Issue
BOND INTEREST TRANSACTIONS General obligation bonds - Series 2000 2.50% - 5.00% 8/22/2002 General obligation bonds - Series 2011 .40% - 1.35% 6/1/2011
Fiscal Year of Maturity
2020 2014
Fiscal Year of Maturity
2020 2014
Outstanding Outsta11ding July I, Bonds Bonds June 30, 2011 Issued Paid 2012
$ 20,715,000 $ $ 7,565,000 $ 13,150,000 5,985,000 2,010,000 3,975,000
$ 26,700,000 $ $ 9,575,000 $ 17,125,000
Unmatured Interest Unmatured
Outstanding Interest Interest .Tu(y I, New Coupons Paid/ June 30, 201.l Issues Refunded 2012
----·-
$ 2,954,133 $ $ 906,471 $ 2,047,662 241,103 55,032 186,071
$ 3,195,236 $ $ 961,503 $ 2,233,733
- 65 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF FUTURE REQUIREMENTS FOR RE11REMENT OF LONG-TERM DEBT JUNE 30, 2012
Bond Issue Date Bond Issue Date Fiscal August 22, 2002 June 1, 2011
.Year Principal Interest Principal Interest Principal Interest Total
6/30/2013 $ 1,785,000 $ 537)-73 $1,975,000 $120,913 $ 3,760,000 $ 658,186 $ 4,418,186
6/30/2014 1,935,000 470,335 2,000,000 65,158 3,935,000 535,493 4,470,493
6/30/2015 2,090,000 395,354 2,090,000 395,354 2,485,354
6/30/2016 2,265,000 311,754 2)-65,000 311,754 2,576,754
6/30/2017 2,440,000 218,323 2,440,000 218,323 2,658,323
6/30/2018 2,635,000 114,623 2,635,000 114,623 2,749,623
$ 13,150,000 $2,047,662 $3,975,000 $ 186,071 $ 17,125,000 $2)-33,733 $19,358,733
- 66 -
BE11iEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHE1JULE OF SUPPLEMENT AL I1'lFORMATION FOR STAJE SCHOOL STATE Dhl'ARTMENTOF EDUCATION YEAR Ell/1JED JUNE 2012
SUPPLEMENTAL INFORMATION, 2011-2012
A. Ene,gy Bill for Heating· All Funds: Please enter your expenditures for electricity & heating fuel for these Fu::ictions & Objects.
B. R.eplace?nen1 of Equipn1ent ·~General Fund: Include all General Fund expenditures in object 542, except for the follo•V'ing exclusions: Exclude these functions: Exclude these functions: l l 13, 1 I 22 & 1132 Co-curricular Activities 4150 Consb.uction 1140 Pre-KJnderga:rten 2550 Pupil Transportation 1300 (:ontinuing Education 3100 Food Service 1400 -Su1nmer School 3300 Conununity Services
- 67
BETHEL SCHOOL DISTRICT NO. 52, LANE COUlVTY, OREGON SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE 30, 2012
}'ass Through Entity
Federal Granlor:1>ass Through Grantorl ldentifyi-ng Pro ram Title
U.S. Deparlment of Education
Direct programs:
Indian Education- Formula Gra.1ts to LEAS 11~12 ~S060A082424
l'assed Through Oregon Deparl111ent oj'Educaiion:
Title IA 10-11 carryover 19363 Title IA 11-12 22573
~'ubtota/ Title 1, Part A Cluster
Extended Assessn1ent Development Grant l l-12 22321 Extended Assessment Dcvelopinent Grant l 0- l l 19248 IDEA 10--11 carryover 20252 IDEA 1H2 23536 SPR & I 2011--2012 23037 IDEA En};ia._,ccmcnt JI -12 23745 IDEA Eilhc.ncanent l 0-i 1 21257 Extended Assessment 11·l2 24006 IDEA Part B, 619 2011--2012 Fonr.ula 24150
IDEA Part B, Se<.,ion 619 2010·2011 21924 ARRA IDEA Part B, Section 611 Formula 15140
Subtotal Special Education Cluster (IDEAj
SIG-School Jmprovement l 003-G Year l 2011-2012 22314
Subtotal S'chool lmprovenu;nt Grants Cluster
EBISS District I 1-12 23440 FJllSS District l 0-ll carryover 21218 Tille lll-English Language Acquis!ion 10-ll 20153 Title lll-English Laogoage Acqnistion 11-12 22954 Title IIA, bnprov:ing Ie..acher QualJty 19566 Tltle II.1\, Improving Teacher Quality 22755 Ed Jobs ARRA JO- 11 20734
Passed Through Lane ESD:
McKinney Ho1neless-Con1petitive 11·l2 22328 lvfcKinney Homeless-Competitive IO~ 11 carryover 19888
Subtotal Education of Horne less Child1"en and Youth Cluster
Passed through Oregon Department cf HumatJ Re.,t(n:1rces,
qffu:e of Vocati.ona[ Rehabilitatinn Services:
Youth Transition Program !GA #136035
Subtotal Vocational Rehabilitation Cluster
Federal
CFDA :Vurnber Exe,enditures
84.060A $ 83,291
84.0lO 104,J 12
84.0lO J 094.521
1,198,633
84,027 348,581 84.027 14,691 84.027 354,271 84.027 719,699 84.027 4,661 84.027 12,399 84.027 9,698 84,027 l,800 84. 173 2,229 84.173 4,801 84.391 211,293
1,684,123
84.377 278,921
278,921
84.323 8,197 84 323 I33 84.365 19,357
84.365 13,760 84.367 49,088 84.367 97,968 84.410 17,520
84.196 4,352
84.196
8,898
84.126 37,153
37,153
Federal Grant.or/Pass Through Grant.or/
Pro ram Title U.S. Deparlu1ei;t of Educati.nn (Continued)
Passed t11rough the (Jnb1ersity oj· Oregon:
SUmrrier School & Sununcr Learning 1i"12 Bethel Graduation Proje<'t I 0- 11 R305 !00043
Bethel Graduation Project l l-12 R305 l 00043
Total US. l)epartn1cnt qf Education
U.S. Department of Health & f{11man Services HRSA-Heal01 Resources & Services Admin SBHC #CI2CS2!887-0J .. OJ
Passed tltrough Oregon En1ployn1ent Dcparlment:
Infant Toddler CIHld Care lnfant Toddler Prograxn - Sta1e of Oregon/Dept of Etnployrnent Federally Mandated C1ib Replacement Safety Irnprovements Consortia. Development Phase 1 Training
Subrofal CCDF Cluster
Passed Through Lane ES..D:
My Future My Choice 11-12
Passed through Oregon Research Institute;
Community and Schools TogeL'ier Pcoject (CAST) I I -12
Total US. Department of lleaith & f{uman Services
U.S. Depart11u:n.t ofTransportntivn
l'assed through Oregan Deparbneui ofTransportatinn:
Safe Routt."S to Schoo! l 0-11 Project #lflJ~ 11~10~08 Safe Routes to School 11~J2 Project #HU-12-10-08
Subtotal Jfiglnvay I'lanning and Constn,ction Cluster
Tvial U.S Deparimenr of Transportation
U..'i. l>t".partn1ent of Agriculture
Passe.fl Through Lane Cou11(v, Oregon:
Federal Forest Fees
SubJotal Schools and Roads Cluster
l'a.r;sed Through Oregon Departn;ent of Erfucatfun:
National School Breakfast Progran1s Natio::ial School Lunch Programs/Snack FDP Value of Con1n1oditics Ret~c)ve<l Sum.mer F'ortd SVC Relmh FY 08-GF Summer Food SVC Reimb-GF Summer School KHS 1neal reimb
Subtotn! Chlld l\futn'tion Cluster
Pass 1Jirough
Entity JdentijjJing
Number
#223731A
#22400!C #224001C
CJ2CS21887
LOCAL LOCAL
24707 24639
Ylemo from LESD
7/l/l 1 Agr(:eJnent
HU-ll -10-08 HU-12-10-08
NIA
NIA NIA NIA N/A
NIA ~IA
See notes to schedule of expenditures of federal aH1ards. - 68 -
Federal
CFDA :Yiunber
84.305A
84.305A 84.305E
93.501
93.575 93.575 93.575
93S/5
93.135
93.864
20.205 20205
!0.665
10.553 l 0.555 i 0.555 l0.559 10.559 10.559
Expenditures
$ 130,205
5,442 ll l,656
39,053
2,208 36,583
2,020 50
40,861
806
3,559
16,156 24,688
40,844
40,844
331,974
331,974
349,444 961,068 145,854
29,486 344
1,180
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (Continued) YEAR ENDED JLWE 30, 20 I 2
Federal Grantor/Pass Through (]ran.tori
Pro ram Title U.S. Department of Agriculture (Continued)
Passed Through Oregon Department of EfiucatWn (Contbiued):
Food service· food Food service- Commodities
Infant Toddler Pro.1;-rIDn- food Infant Toddler Program- Co:n1nodities Fresh Fruit and Vegetable Prograrn 10-11
Fresh Fruit and Vegetable PrognliT! l O· l l Fresh Fruit and Vegetable Program l O· l l Fresh Fruit and Vegetable Program 10-11 Fresh Fruit and VcgcLableProgram.11-12 Fresh Fruit and Vegetable Program J J .. J2
Fresh Fruit and Vegetable Program ll-12 Fresh Fruit and Vegetable Program ll-12
Total US. Departnie.nt o/Agrfculture
Total Federal Expenditures
Pass Through Entity
ldentr/jiing Nwnb&r
NIA NIA NIA 1'/A
23300
23262 23302 2330]
24428 24469 24470 24471
See notes to schedule of ex1ienditures of federal a1~ 1ards,
- 69 -
r~ederal
CFDA l>/u.nrbe.r Expenditures
J0.558 $ 10,562 J0.558 848 10.558 7,232 J0.558 609 l0.582 2,35] 10.582 2,187 10.582 2,188 10.582 2,379 J0.582 17,055 l0.582 16,054 10.582 17,236 J0.582 18,468
l,916,519
$ 5,785,987
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON NOTES TO SCHnlJULE OF EXPENDITURES OF FEDERALAFVARDS YEARENDEDJUNE30, 2012
Pwpose of the Schedule
The accompanying schedule of expenditures of federal awards (the Schedule) is a supplementary schedule to the Bethel School District No. 52's fmancial statements and is presented for purposes of additional analysis. Because the Schedule presents only a selected pmtion of the activities of the Bethel School District No. 52, it is not intended to and does not present eitl1er the fmancial position, changes in fund balances, or the operating funds' revenues and expenditures for the Bethel School District No. 52.
SIGNIFICANT ACCOUNTING POLICIES
Basis of Prese11tatio11
The infonnation in the Schedule is presented.in accordance with OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations.
Federal Fina11cial Assistance
Pursuant to the Single Audit Act Amendments of 1996 and OMB Circular A-133, federal financial assistance is defined as assistance provided by a federal agency, eitl1er directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, prope1iy, interest subsidies, insurance or direct appropriations. Accordingly, nonmonetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is repmted on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the state and federal govennnent for which the federal govermnent procures tangible goods or services are not considered to be federal financial assistance.
l>fajor Programs
The Single Audit Act Amendments of 1996 and OMB Circular A-133 establish criteria to be used in defining major federal financial assistance programs. Major programs for the Bethel School District No. 52 are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in OMB Circnlar A-133. Progrnms with similar requirements may be grouped into a clnster for testing pwposes.
Reporting Entity
The repmiing entity is fully described in the notes to tllC financial statements. Additionally, the Schedule inclndes all federal programs administered by the Bethel School District No. 52 for the year ended June 30, 2012.
Revenue and Expenditure Recognition
The receipt and expenditure of federal awards are accounted for under the modified accmal basis of accounting. Revenues arc recorded as received in cash or on the accrual basis where measurable and available. Expenditures are recorded when the liability is incurred.
- 70 -
STATISTICAL SECTION
This part of the District's co1nprehensive annual :inanciaJ report presents detailed in:!'om1ation as a oon1exi for
understanding \/\'hat the lnfonnation in the frna.1cial statc;_nents, note disclosures, a1d reqnired supplerne;ntary infonnation
says about the District1s overall fmancial health.
Financial Trend!>· 'fhese schedules wntain trend inforrriation to help the reader undc:rstand how the District's financial
perfonnace and weU-heing have changed over time.
Revenue Capacity These schedules contain infonnation to help the reader a.;;sess the Dist:dcCs inost significant lo::.:al
re-venue source, the proper1.y tax.
Debt l'apacity These schcdt:.]es prese;it infonnat!ou to help the reader assess the affordability of the District's
C.1.iJTent levels of out.standing debt and the District's ability to issue addliionaJ debt in the futun:.
De1nographic and Econon1lc Infonnaii,orr. r:,esc schedules offer demographic and economic indicators to help the re.ader understand the
envfronment \Vithin v,.'h1c.h the District 1s financial activities take place,
Operating Infon11otion
Sources:
These schedules contain service and infrastructure data to help 1he rcruler u::iderstand how the
information in the DistriG1.1s fmancial report reletes io the services the District prov) des and the
activities it performs.
71
75
79
82
84
Unless other\vise noted, the inf orn1ation in these schedules is derived froin !he co1nprehensive annual financial reports for
the relevant yc-,(lr.
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON CON1JENSED STATEMENT OF NET ASSETS LAST TEN FISCAL YEARS
2012 2011
ASSETS
Current and other assets $ 19,058,506 $ 20,774,973
Net capital assets 44,096,686 44,940,707
Total Assets 63,155,192 65,715,680
LIABILIT/b"S
Acco\ll1ts payable and other liabilities 9,183,036 3,239,815
Long-term debt outstanding 19,832,587
Total Liobilities 29,015,623 32,643,978
NE:TASSETS
Invested in capital assets, net of related debt 26,971,686 24,225;707
Restricted for debt service 588,933 841,639
Umestricted 6,578,950 8,004356
Total Net Assets $ 34,139,569 $ 33,071,702
2010 2009
$ 15,998,188 $ 15,165,875
46,155,321 47,376,503
62,153,509 62,542,378
2,884,979 3,774,723
26 638,300 31,024,832
29.523,279 34,799,555
21,885,321 18,345,192
1,246,548 525,953
9,498,361 8,871,678
$ 27,742,823
Fiscal Year
2008
$ 15,903,765
46,995,763
62,899,528
3,458,991
36,384,128
39,843,119
13,545,763
324,017
9,186,629
$ 23,056,409
2007
$ 15,304,393
48,034,665
63,339,058
2,657,041
39,657,674
42,314,715
10,487,422
343,188
10,193,733
$ 21,024,343
2006
$ 13,487,077
48,915,333
62,402,410
6,581,149
39,504,820
46,085,969
7,570,815
441,567
8,304,059
$ 16,316,441
2005
$ 10,334,641
49,847,616
60,182,257
5,141,009
42,951,402
48,092,411
5,672,975
606,962
5,809,909
$ 12,089,846
- 71 -
2004
$ 13,678,400
48,994,794
62,673,194
6,497,929
43,886,403
50,384,332
3,367,057
573,855
8,347,950
$ l 2,288,862
2003
$ 15,921,200
45,109,512
$
61,030,712
6,742,118
47,505,000
54,247,118
1,725,124
736,190
4,322,280
6,783,594
BETHEL SCIIOOL DISTRICT NO. 52, LANE COlJNTY, OREGON CHA.NG ES IN NET ASSETS LAST TEN FISCAL YEARS
2012 2011 EXPENSES
Instructional services $ 31,164,003 $ 31,566,430
Support services 19,391,817 18,954,506
Enterprise and community services 2,170,139 2,214,326
Facilities maintenance services 764,784 1,098,761 Interest on long-tenn liabilities 961,803 985,368
Total Expenses 54,452,546 54,819,391
PROGRAM REVENUES Charges for services
Instmctional services 36,672 261,179
Support services 110,103 92,905
Enterprise and commllllity services 295,732 314,864 Operating grants and contnbutions
Instructional services 7,222,202 7,773,885
Support services 1,519,739 1,289,31 I
Enterprise and community services 21,607 22,868
Total Program Revenues 9,206,055 9,755,012
NET (EXPENSES) ( 45,246,491) ( 45,064,379)
GENERAL REVENUES Property taxes, levies for operations 12,040,513 11,729,231 Property taxes, levies for debt service 4,267,847 4,219,233
Construefon excise tax 76,936 123,933 State school fund 27,621,735 26,359,638 State common school fund 567,476 546,375
County and intermediate sources 389,885 1,345,120 Earnings on investments 136,170 106,622
IY1iscellaneous 1,213,796 1,075,699 Total General Revenues 46.314 358 45,505,851
CHANGE IN NET ASSETS $ 1,067,867 $ 441,472
2010 2009
$ 31,519,646 $ 32,129,947 17,719,441 17,433,684 2,293,078 2,733,372 1,072,767 2,009,000 1,221,821 1,362,204
53,826,753 55,668,207
40,261 36,643 92,134 93,174
367,139 412,233
7,703,515 8,548,194 1,500,842 1,504,546
23,056 22,558 9,726947 10,617,348
( 44,099,806) ( 45,050,859)
11,625,360 10,965,811 6,284,317 6,5Il,439
215,977 1,339 28,060,932 27,971,623
565,602 442,920 1,125,136 1,500,375
136,313 440,774 973,576 1,902,992
48,987,213 49,737,273
$ 4,887,407 $ 4,686,414
Fiscal Year 2008 2007 2006 2005 2004 2003
$ 32,356,853 $ 28,159,005 $ 27,481,207 $ 26,636,000 $ 26330,450 $ 27,727,758
18,883,185 16,504,911 15,551,58 l 14,677,078 13,840,727 14,810,168
1,836,829 1,681,740 1,568,407 1,467,468 L639,178 1,564,084
1,033,416 1,180,128 63,387 234,809 976,052 1,129,735
1,695,007 2',045,576 2,188,976 2,049,285
49,520,791 45,060,931 44,975,383 47,281,030
59,027 31,806 23,730 41,709 688,808 744,773
119,416 118,526 107,801 84,154 48,457 27,667
437,760 472,581 465,310 477,393 474,944 461,943
6,819,318 6,515,022 5,526,931 5,422,598 5,428,892 4,864,847
1,452,665 1,341,550 1,328,119 1,417,896 1,417,898 1,193,600
23,149 22350 2?~114 20,847
8,911,335 8,501 835 7,465,864 7,313,677
(46,720,352) ( 41,018,956) (39,084,158) (37,595,067) (36,894,807) (39,967,353)
10,391,707 9,961,ll 8 9,425,085 8,659,277 8,549,278 8,174,939
5,362,098 5,244,187 5,019,537 5,329,016 4,933,967 5,075,655
28,957,197 26,487,979 25,340,957 21,940,866 25,364,340 21,019,589
601,310 529,968 516,847 445,891 228,254 265,547
1,171,547 993,537 969,635 1,022,208 1,071,840 915,256
1,061,196 972,539 700,931 383,682 519,420 539,100
1,207363 1,537,530 1,337,761 1,774,836 1,466,820 1,245,644
48,752,418 45,726,858 39,555,776 37,235,730
$ 4,707,902 $ 1,960,709 $ 5,239,112
.. 72
BETHEL SCHOOL DJSTJUCT NO. 52, LANE COUNTY, OREGON FUND BALANCES OF GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS
2012 2011
General Fnnd
Unreserved $ $ Unassigned 4,704,418 5,967,496
Total general fund $ 4,704,418 $ 5,967,496
All Other Governrnental Fnnds
Unreserved, reported in:
Debt service fund $ $
Capital projects funds
Special revenue fnnds
Non-spendable 1,547,061 1,573,651
Restricted 240,399 6,515,216
Committed 2,412,139 2,748,797
Total all other governrnental fnnds $ 4,199,599 $ 10,83 7,664
Note: GASB 54 was implemented in fiscal year 2011.
2010 2009
$ 6,857,188 $ 4,753,070
$ 6,857,188 $ 4,753,070
$ 902,653 $ 575,618
4,555,820 5,356,730
$ 5,458,473 $ 5,932,348
Fis cal ''ear
2008
$ 5,417,250
$ 12,225 8,391
6,441,866
$ 6,462,482
2007
$ 8,242,718
$ 8,242,718
$ 55,730 l 53,075
3,470,677
2006
$ 6,901,693
$ 164,524 145,565
3,049,060
$ 3,359,149
2005
$ 4,690,347
$ 4,690,347
$ 297,461 353,359
3,197,921
$ 3,848,741
- 73 -
2004
$ 4,868,797
$ 237,785 1,877,263 3,028,275
2003
$ 976,956
..t=. =9-=;6"=,9=56=
$ 371,723 7,015,612 2,843,518
$ ~0,230,853
BETHlJL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON C"'HANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS LAST TEN FISCAL Y.8ARS
2011 REVENUES LDcal sources $ 18,223,061 $ 18,183,929 Intenredia te soun::es 418,279 874,694 State sources 31,260,764 28,453,842 Federal sources 5,785,666 8,042,691
Total Revenues 55,687,770 55,555,156
EXPE.."IDITlJR.ES Current operating
h1struction 31,159,833 31,229,822 Support services 19,370,791 18,982,380
Enterprise and conmrunity services 2,142,818 2,l32,277 Facilities acquisition & construction 4,231
l)ebt servjce
Principal 9,575,000 3,555,000 Interest 961,623 1,023,828 Refinancing costs 85,000
Capital ouLlay
Total Expenditures 63,588,913 57,050,657
EXCESS (DEFICIENcY) OFREVE1'l.JES
OVER (ONDER) EXPENDITLIDS (7,901,143) (l,495,501)
OTHER FINANCING SOURCES {lJSES) Transfers in 977,634 467,506 'fransfers out (977,634) (467,506) Proceeds fiurn bonnwing
-· ·~--~~~ .. -·- 5,985,000
Total Other Financing Sources (Uses)
NEl' CHA<'IGEIN FOND BALANCES $ (7,901,143) $ 4,489,499
Debt services as a percentage of noncaplial expenditures 16.7% 8.0%
2010 2009
s 19,790,163 $ 20,361,686 433,750 242,992
30,724,706 31,914,429 7,715,540 7,765,998
58,664,159 60,285,105
31,135,433 33,178,509 17,681,195 18,751,455 2,2ll,497 2,210,830
4,770,000 4,410,000
1,193,441 1,369,479
42,350 1,559,146
57,033,916 61,479,419
1,630,243 (1,194,314)
1,300,000 862,010 (1,300,000) (862,010)
$ (l, 194,314)
!0.5% 9.6%
Fiscal Year
2008 2007 2006 2005 2004 2003
$ 19,306,717 $ 19,893,703 $ 17,950,106 $ 18,150,734 $ 18,081,689 $ 16,663,167
253,093 208,830 631,666 218,435 240,589 296,345
31,522,990 28,388,157 27,215,149 23,890,286 27,228,973 23,119,701
6,488,161 5,690,834 5,034,019 4,816,791 4,754,895 4,733,928
57,570,961 54,181,524 50,830,940 47,076,246 50,306,146 44,813,141
31,655,886 28,737,212 26,274,127 25,654,050 25,319,504 26,921,394
18,486,197 16,340,881 15,444,489 14,580,001 13,840,727 14,766,495
1,818,386 1,648,220 1,561,047 1,467,468 1,639,178 1,548,670
18,218 60,055 146,644 515,874 1,194,212
4,065,000 3,680,000 3,333,000 3,220,000 2,895,000 39,949,296
1,527,929 1,710,218 1,906,991 2,057,460 2,201,302 2,131,759
91,232 385,417 176,118 2,010,248 5,356,406 10,048,144
57,644,630 52,520, 166 __ 48,755,827 49,135,871 51,767,991 96,559,970
(73,669) 1,661,358 2,075,113 (2,059,625) (1,461,845) (51,746,829)
3,340,000 440,500 240,000 298,504 315,000 115,000
(3,340,000) (440,500) (240,000) (298,504) (315,000) (115,000)
·- -------------~--"'--
2~c3,2_36_ __ 37,09~J]:I_
233,236 37,098,724
$ (73,669) $ 1,661,358 $ 2,075,113 $ (1,826,389) $ (1,461,845) $ (14,648,105)
9.7% 10.3% 10.8% 11.2% 11.1% 49.3%
- 74 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON ASSESSED VALUES OF TAXABLE PROPERTY WITHIN SCHOOL DISTRICT NO. 52 BOUNDARIES LAST TEN FISCAL YEARS
:Fiscal
Year Assessed Value (not including exemEt property) Ending Personal M anufucture d Total Assessed Total Direct
June 30. Re al Pro Ee rty ProEerty Structure Public 1J tili!J;' Value Tax Rate
2012 2,450,724,635 $ 111,531,513 $ 60,736,127 $ 135,062,690 2,758,054,965 4.5067 2011 2,705,151,293 n/a rJa n/a 2,705,151,293 4.5067 2010 2,669,362,520 n!a n/a n/a 2,669 ,3 62,5 20 4.5067 2009 2,527 ,522,943 n/a n/a n/a 2,527,522,943 4.5067 2008 2,428,242,644 n/a n/a n/a 2,428,242,644 4.5067 2007 2,291,465,668 n/a n/a n/a 2,291,465,668 4.5067 2006 2,168,282,960 n/a n/a n/a 2,168 ,282,960 4.5067 2005 2,055,541,516 n/a n/a nla 2,055,541,516 4.5067 2004 1,967,073,999 n/a n/a n/a 1,967,073,999 4.5067 2003 1,884,740,427 n/a n/a n/a 1,884,740,427 4.5067
Notlls:
Less:
Amount Tax Reduction and
Rate Will Raise Adjustments
12,433,963 4,411,633 12,191,305 6,l 68,570 12,030,016 6,329,859 11,390,787 6,694,978 10,943,361 5,578,645 10,326,948 5,241,141 9,77L801 5,021,552 9,263,709 5,145,879 8,865,012 4,897,228 8,493,960 5,060,471
Beginning July 1, 1997 prcperty taxes 'Were ::X.sed on an assessed vaiue Assessed Yalue is defined as the lc\\~r of" inaximuin assessed value" or "real inarket value." For the 1997~ 1998 ta;t year,
"max!.ruum assessed value" v.-as set at the 1995~1995 real market vaiue less 10 percent. Assessed value for later years ts li1ni~ed to 3 percent annual increases,
Ti1c net icvy is the actual U:nposed ta;>. after adjustments and constitutional property tax !imitations due to the passiog of Measure 5 in 1990 axi.d Measure 5G ~n 1997.
S::lti.rce:
Total Taxes
Imposed
(Net Levr/
16,845,596 18,359,875 18,359,875 18,085,690 16,522,006 15,695,165 14,793,353 14,409,588 13,762,240 13,554,431
FY 2003-2G1 2: Oregon Property Tax Statistics &;pplement for the appro}'lriate f>¥'-al year. Tab.le la Tax able Assessed Value Detaii for Code Areas and Table 4a Detail of Taxing DL~rict Levies.
- 75 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON DIRECT AND OVERLAPPING PROPER1Y TAX RATES LAST TEN r1SCAL YEARS
Fiscal Year
2012 2011
20!0
2009 2008
2007
2006 2005 2004
2003
Fiscal Year
2012
20! 1
2010
2009
2008
2007
2006
2005 2004
2003
General Tax Fenn anent
Rate
4.5067
4.5067
4.5067
4.5067
4.5067
4.5067
4.5067
4.5067
4.5067
City of Eugene
$ 8.1842
B.4380
8A257
8.5498
8.0458
9.0370
9.0222
8.8101
8.6658
7 .7573
General Obligation Total
Dehl Sc-n4ce Direct Tax I<ate Jlat.c
$ 1.60 $ I I
1.62 6.13 2.37 6.88
2.65 7.16
2.30 6.80
2.34 6.85
2.37 6.88
2.56 7.07
2.55 7.06
2.75 7.26
Overlapping Total Property Tax Rates Junction Lane Coullty
City \\later Metro Waste Control Water Lane County
s 0.0283 $ s 1.2793
0.2806 l.3921
0.2859 1.3971
0.2965 L4007
O,J ll 5 l.4020
0.311 l l.3876
0 2893 l,4090
0.2523 l.2764
0.2523 l.2710
0.2523 l.2712
Lane llh'er Road CQmmunity Park and
College Recreation
$ 0.8782 $ 3.8791
0.8589 3.8946
0.8534 3.9326
0.8705 3.463 l
0.8306 3A789
0.8370 3.4814
0.88!4 3.5010
0.6191 3.0559
0.6191 3.0559
0.6191 3"0559
The pcrrnancnt and local option tax rates are detennined by fhe State of Oregon Constitution and State Statutes. Existing districts cannot jncrease iheir permanent rate authority. Local option levies are liinited to five y:::ars for operations and te11 years for capJfal projec.ls. Elcc1ions for local option levies inust meet the double majority election test, except in the Novernber general. election ill even nun1bered years. J~:ites for deh1 service are set based on c,;:ch year's requirc1nents,
Source: Laue C.'"IUJJiy Depnrt;neni of Assessment and Taxation and Linn Cot:Jlty Tax Assessor's Office.
- 76 -
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON PRINCIPAL PROPERTY TAXPAYERS FOR LANE COUNTY CURRENT YEAR AND NINE YEARS AGO
2012 Pc.-ccntagc
Taxable Assessed of Total Taxpayer Value Rank Taxable
Ten Largest Taxpayers
Verizon Communications $ 51,158,400 1 1.9
Weyerhaeuser NR Co 20,434,143 2 0.7
SFPP LP 28,901,700 3 1.0
Heron Meadows Apartments NW LLC 17,102,295 4 0.6
Datalogic Scanning Inc 16,201,843 5 0.6
Sene.ca Sawmill Co 23,281,546 6 0.8
Taft Group I Inc 14,211,171 7 0.5
Flakeboard America LTD 14,012,435 8 0.5
Metropolitan Life Ins Co 12,476,323 9 0.5
Sun Communities Operating 11,314,279 10 0.4
Subtotal of Ten Largest Taxpayers 209,094,135 7.6
All Other Taxpayers 2,548,960,830 92.4
Total AII Taxpayers $ 2,758,054,965 100.00%
Ifynix Semiconductor Mfg America
Qwest
Valley River Center LLC
Sony Music Entertainment Inc
SHLP Financing LLC
Northwest Natural Gas Co
Guard Publishing Co
~Ilorewood Packaging Corp
Symantec 2001 Trust
McKay Investment Company
Subtotal of Ten Largest Taxpayers
All Other Taxpayers
Taxable Assessed
Value
$ 481,780,187
121,130,981
74,780,663
64,861,420
27,647,044
30,400,000
26,482,470
25,939,911
24,976,723
!7,370,4!6
895,369,815
7,833,803,967
Total All Taxpayers $ 8, 729, J 73,782
1 Ranking is based on amount of tax and no( assessed valuation
Source:
L.ane County, Division of Assessment and Taxation.
- 77 -
2003 Percentage
of Total Rank Taxable
5.5
2 1.4
3 0.9
4 0.7
5 0.3
6 0.4
7 0.3
8 0.3
9 0.3
10 0.2
10.3
89.7
100.00%
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS
Collected '\\ithiu the Fiscal
Fiscal \'ear !'let Taxes Year of the Levy CoUections in Ending levied for the Percentage Subsequent
June 30, Fiscal Year 1 Atnount of Levy Years 2012 $ l6,646,l8l $ 15,719,062 94.431;.1' $ 284,977 201 l 16,405,982 15,.148,487 94.16 581,194 2010 18,218,034 17,262,537 94.76 495,169
2009 18,178,219 16,870,053 92.80 413,623 2008 16,393,712 15,376,832 93.80 259,092 2007 15,695,165 l•,787,589 94.22 389,250 2006 14,793,353 14,030,075 94.84 443,306
2005 14,409,588 13,589,91 l 94.31 678,557
2004 13,762,240 13,040,167 94.75 641,377
2003 13,554,431 12,623,480 93.l3 889,115
2002 12,806,406 l l,823,741 92.33 964,851
.. 78-
Total Collections to Date pf;f:c:entage
Atnount of Levy
$ 16,004,039 96J4% 16,029,681 97.71 I 7,757,706 97.47
17,283,676 95.08
15,635,924 95.38
15,176,839 96.70 ]4)473,381 97.84 14,268,468 99.02
13,681,544 99.41 13,512,595 99.69
12,788,592 99.86
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON RA170S OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS
Fiscal
Year
2012
2011
2010
2009
2008
2007
2006
2005 2004
2003
2002
fc1scal
Year
2012
201 I
2010
2009
2008
2007
2006
2005
2004
2003
2002
*
General Bonded Debt
Less Amount
General Available for
Obligation Bonds Repayment
$ I 7,125,000 $ 26, 700,000
24,270,000
28,990,000
33,350,000
3 7,365,000 55,730
41,195,000 I 64,524
44,528,000 297,461
47,505,000 237,785 50,400,000 371,723 49,345,000 349,847
Other Governmental Activities Debt
Capital Leases
$
50,000
100,000
150,000
I 95,000
243,000
Data not available at time of publishing
Net General Percentage of
Obligation Actual Taxable
Bonds Value of
0 utstanding Property Per Student
$17,125,000 0.62% $ 3,038
26,700,000 0.99 4,702
24,270,000 0.91 4,261
28,990,000 1.15 5,082
33,350,000 1.37 5,768 37,309,270 1.63 6,434
41,030,476 1.89 7,381
44,230,539 2.15 7,853
47,267,215 2.40 8,478
50,028,277 2.65 8,861
48,995,153 2.77 9,175
Total District Per Student
$ 17,125,000 $ 3,038
26,700,000 4,702
24,270,000 4,261
29,040,000 5,090
33,450,000 5,785
37,459,270 6,460
41,225,476 7,416
44,473,539 7,897
47,267,215 8,478
50,028,277 8,861
48,995,153 9,175
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Total Debt
" Percentage of Personal
Per Capita Incon1c
$ 48 n/a*
76 n/a*
69 n/a*
84 n/a•
97 n/a"'
1I1 n/a* 123 n/a* 133 n/a*
143 n/a*
152 n/a*
150 n/a•
BETHEL SCHOOL DISTR1CT NO. 52, LANE COUNTY, OREGON DIRECT AND OVERLAPPING GOVEKNM1'1VTAL ACTIVI71ES DEBT AS OF JUNE 30, 2012
Overlapping Issuer Lane County River Road Parks & Recreation Lane Community College
City of Eugene
Lane ESD
Subtota~ overlapping debt
Direct District net property-tax backed debt
Total direct and overlapping debt
Overlapping Net Property-tax
Backed Debt $ 48,960,000
520,000 31,910,000
28,910,000
7,645,000
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Percent Overlapping
9.6153% 1.8998% 9.4845%
16.4592%
9.6405%
Overlapping Debt
$ 4,707,651 9,879
3,026,504
4,758,355
737,016
13,239,405
17,145,000
$ 30,384,405
BETHEL SCHOOL DISTRICT NO. 52, LANE COUIVTY, OREGON LEGAL DEBT lvfARGIN INFORMATION LAST TEN FISCAL YEARS
2003 2004 2005 2006 2007
Debt Liinit $149,836,864 SI56,382,383 5163141:5,551 $172,378,495 $ 212,214,320
"rota{ net debt applicable tc lirnit 50,400,000 47,505,000 44,::28,000 41 24,270,000
,..,,cgal debt 1;iargin $ 99,436,864 5108,877,383 $11B,SS7 155l $13 l,!83,495 $ ! 87 ,944,320
Tota( net debt appiicabie to tlle litnit
as a percentage of debt iimll 33.{)4% 3D.38o/~ 27.2:5%. 23.90% l L44o/o
2008 2009 2010
$1931045)29;) $200,938,074 $ 212,214i320
33,350,000 28,990,000 231367,347
$159,695,290 5171,948,074 $ !88,846,973
17.28~,~ 14.43% 11.0it;b
1 ORS 328.245 establishes a pannneter of bor.ded indebtedness for school districts. Aggregates are governed by real rnarket values of all taxable propctiies within the based on the foHcrwing;
A For each grade from kindergarten to eighth for which the District operates school~, fifty~five on-hundredths of one percent (,005 5) of the real market value. e ?or each g:ade from ninth to t welftb for which the District opz.rates schools, scventy~five one-hundredths of one percent (.0075) of the reai
Allowable Percentage of Real Market Ya.foe. A Kindergarten through. eighth grade, 9 x .OG55 4.95% 3 Ninth through twelfth, 4 x .0075
Allowable Percentage
&:nucc: Lane County Depart1ncnt of Assessrnent and Taxation.
7.95"/o
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20Jl
$ 215,059,528 $ 194,832,608
20,184,734 26,459,601
$ 194,874,744 5 .168,373,007
9.39111~ i3.58"~
BETHEL SCHOOL DISTIUCT NO. 52, LANE COUNTY, OREGON DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN CALENDAR YEARS
Personal Income (thousands of Per Capita
Year Population dollars2 Personal Income 2012 n/a $ n/a $ n/a 2011 353,155 12,524,642 35,465 2010 351,109 11,525,524 32,826 2009 346,560 11,644,790 33,601 2008 343,140 13,126,119 35,027 2007 338,842 lJ ,214,962 33,098 2006 336,085 10,580,153 31,480 2005 333,350 9,981,276 29,841 2004 330,527 9,184,684 27,788 2003 328,150 8,677,927 26,445
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Unemployment Rate
8.3 9.5
10.4 12.9 5.4 5.5 5.8 6.5
7.4 6.7
BETHEL SCHOOL DL'iTRlCT NO. 52, LANE COUNTY, OREGON PRINCIPAL EMPLOYERS FOR THE EUGENE AREA CURRENT YEAR AlvD NINE YEARS AGO
2011 5
Percentage of Number of Total Numbel'of
(~on1pa11y Ernployees Rank Etnployuient Employees
University of Oregon 4,000 I 3.00 % 3~747
PcaceHe:alth Ccrrporation 3,400 I 2 2.55 4,011 City ofEugene 2,200 3 1.65 1,427
Lane County School District 4J 2,025 3
4 1.52 1,961
Lane Conllnunity College 2000' '
5 1.50 804 U.S. G:ivemn:x:nt 1,800 6 1.35 2,100
Lane County 1,462 7 1.10 1,323
Springfield School District l,406 8 1.05 NA
Staie of Oregon !,JOO 9 0.82 1,300 McKenzie-W illanxotte Medical Ctr 750 10 0.56 NA
Hynix NA NA 780 PSC Scanning ;\C4 NA 600
Total ,\1ajor Employers 20,143 15.10 18,053
01her I 13,280 84.90
Total All Employers 100.00 %
2002 Percentage of'
Total
Rank En1ploy1nent
2 2.72 % 2.92
5 1.04 3 1.43
6 0.58 4 1.53 ~ 0.96 '
NA
8 0.94 ]\'A
9 OSI
10
13.13
86.87
100.00
Source: Eugene/Springfield Aietropolitan Partnership, as cited by 1.v1-v1v.eugenechaniber.con1
Oregon Employment Department
1 Includes I)eaceHealih Medical Grouj'J, Sacred Heart .Medical, Cottage Grove Hospital 2 Includes pa11-time employees and student instructors. 3 Jn eludes part-time and contract employees 4 Bureau of Labor Statistics March 2010 prelitnina1y total. 5 Updated information not available at the time a/printing.
BETHEL SCHOOL DISTRICT NO. 52, LANE corJNTY, OREGON NU.M.BER OF FULL TIME EQUIVALENT (FTE) EMPLOYEES LAST TEN FISCAL YEARS
Fiscal Year Ended June 30 Certified Classified Administrative Total
2012 287 340 38 665 2011 289 346 39 674 2010 297 330 43 670 2009 336 362 44 742 2008 330 305 43 678 2007 318 330 43 691 2006 308 332 43 683 2005 298 31! 39 648
2004 297 309 38 644 2003 307 298 34 639 2002 295 274 33 602
Source: District Budget Ofiicei Manage1nent Infonm.tion Services,
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BETHEL SCHOOL DISTRICT NO. 52, LANE COf1NTY, OREGON OPERATING STATISTICS LAST TEN FISCAL YEARS
Fiscal
Year Enaed General Fw1d Percentage
June 30, Expenditures En.rollrnent Cost per Pupil Change
2012 s 43,932,140 5,637 $ 7,793.53 l.64o/O
2011 43,536,972 5,678 7)667.66 !.18%
2010 43,172,293 5,697 7,578.G7 2J6~1n
2009 43,830,049 5,705 7,682.74 3.77°/v
2008 42,805,914 5~782 7,403.31 7.03%
2007 38,713,294 5,597 6,916.79 6.92%
2006 36,104,156 5,581 6,469.12 80.91%
2005 20,139,710 5,632 3,575.94 ·l.71%
2004 20,283,162 5,575 3,638.24 -4.63%
2003 21,539J26 5,646 3,814.94 -1.96%
2002 2.G,779,878 5,340 3,891.36 1.77%
Note:
Cert;fied Staff
287 289 298 336 330
318
308
298
297
307
295
Student enrolhrnnt figures are as of October l beginning 1999-00, prior to that figures are as of September 30.
Source: Schooi Disttict records
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Pupil/Teacher
Ratio
19.64 19.65
19.12 16.98
17.52
17.60
18.12
18.90
18.77
18.39
18.10
BETHEL SCHOOL DISTRICT NO. 52, LANE COfJNTY, OREGON OPERATING STAT1STICS - C4PJTAL ASSETS YEARENDEDJUNE 2012
Original Student Building Year Built Square Feet Capacity
Adnlinistration Complex 1950 J0,600 N/A
Clear lake Elen~ntary 1976 51,800 416
l)anebo E1emenia1y 1%5 46,200 464
Falrficld Eler;;::niary 1953 83,500 440
Irving Elementaiy 1965 56,000 492
Ma!abon EJcrrentary 1958 50,900 416
Meadow View School 1998 J 14,800 836
Prai1ie Mountain School 2004 125,700 848
Cascade Middle Schoo! 1955 86,700 504
Shasta Middle School 1961 88,900 560
Kalapuya AJten1ative School 2002 12,400 175
Willarre\!c High Scl10ol 1949 254,800 1,550
6,701
Source: School District records_
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St11dent Percent Capicity Used Used
NIA NIA
320 77%
358 77o/o
287 65o/o
401 82%
358 86o/o
730 87%
700 83%
376 15~,o
499 89%
126 72%
l,434 93'/'b.
83'}b
BETHEL SCHOOL DISTRICT NO. 52, LANE COUNTY, OREGON OPERATING STATISTICS - ~FREE AND REDUCloT! LUNCHES YEAR ENDED JUNE 30, 2012
Free & Reduced Counts by School Percent Free
School Enrollment .Free Reduced or Reduced Clear Lake Ele1non tary 290 170 28 68°/o Danebo Eerrcniary 343 227 36 77% F airTield Elemen taiy 314 249 12 83% frving Elenrntary 382 130 35 43% Meadow View School 759 268 39 40% Malabon Elemental)' 353 258 24 80% Cascade Middle 370 252 43 80% Shasta Middle 506 224 51 54% Kalapuya Alternative School 100 64 6 70% Prairie Mountain School 690 383 52 63% Willamette High School 1,441 639 121 53o/o
Dis (rict totals 5,548 2,864 447 60%
Source: School District records.
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COMPLIANCE SECTION
GROVE, MUELLER & SWANK, P.C. CERTIFIED PUBLIC ACCOUNTANTS N'-10 CONSULTANTS
475 Cottage Street NE, Suite 200, Sale111, Oregon 97301 (503) 581-7788
INDEPENDENT AUDITOR'S REPORT REQUIRED BY OREGON STATE REGULA TIO NS
Board of Directors Bethel School District No. 52 Lane County, Oregon
We have audited the basic financial statements of Bethel School District No. 52, Lane County, Oregon (the District) as of and for the year ended June 30, 2012, and have issued our report thereon dated December 31, 2012. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance As part of obtaining reasonable assurance about whether the District's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grants, including the provisions of Oregon Revised Statutes as specified in Oregon Administrative Rules 162-10-000 through 162-10-320 of the Minimum Standards for Audits of Oregon Municipal Corporations, noncompliance with which could have a direct and material effect on the determination of financial statements 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.
We perfonned procedures to the extent we considered necessary to address the required comments and disclosures which included, but were not limited to the following:
• • • • • • • •
Deposit of public funds with financial institutions (ORS Chapter 295) . Indebtedness limitations, restriciions and repayment. Budgets legally required (ORS Chapter 294) . Insurance and fidelity bonds in force or required by law . Programs funded from outside sources . Authorized investment of surplus funds (ORS Chapter 294) . Public contracts and purchasing (ORS Chapters 279A, 279B, 279C) . State school fund factors and calculation .
In connection with our testing nothing came to our attention that caused us to believe the District was not in substantial compliance with certain provisions of laws, regulations, contracts, and grants, including the provisions of Oregon Revised Statutes as specified in Oregon Administrative Rules 162-10--000 through 162-10-320 of the Minimum Standards for Audits of Oregon Municipal Corporations, except as follows:
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• Teacher expe1ience was inco!Tectly entered into the system for six of 25 teachers tested. The Dist1ict has subsequently co!Tected its records and related reports.
• Items in the Requirements by Object Classification on the fonn ED-1 do not agree with the adopted amounts on the board resolution adopting approp1iations.
• Expenditures in excess of appropriations as detailed in the notes lo the required supplementary infonnalion.
OAR 162-10-0230 fotemal Control In plalllling and perfonning our audit of the financial statements of the governmental activities, each major frn1d, and the aggregate remailti.ng fund infonnation of the District as of and for the year ended June 30, 2012 i11 accordance with auditing sf.llndards generally accepted in the United SI.ates of America, we considered the District's intcmal control over financial reporting (internal control) as a basis for designing our auditing procedUies for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing a..'l opinion on the effectiveness of the District's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Dist1ict's internal control.
Our consideration of internal control was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in iniernal control that might be significant deficiencies or material wrxilmesses and, therefore, there can be no assurance that all such deficiencies have been identified.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal eourse of perfomung their assigned functions, to prevent, or detect and correct missf.lltements 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 co!Tected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet ilnportant enough to merit attention by those charged with governance. We did not identify any deficiencies in internal control that we consider to be material weaknesses.
This report is intended solely for the infonnation and use of management and the School Board of Bethel School District No. 52 and the Oregon Sccreta1y of Stale and is not intended to be and should not be used by anyone other tlran these specified parties.
GROVE. MUELlER & STVANK, PC CERTIFIED PUBLIC ACCOUNTANTS
By:
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- .. Charles A. Swank, A Shareholder December 31, 2012
GROVE, MUELLER & SWANK, P.C. CERTIFIED PUBLIC ACCOUNTANrS AND CONSULTANlS
415 Cottage Street NE, Suite 200, Sal<u11, Oregon 97301 (503) 581~7788
REPORT ON INTER1'1AL CONTROL OVER FINANCIAL REPO,fl.TING Alv7J ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF
FINANCIAL STA TEl11ENTS PERFORl!1ED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Directors Bethel School District No, 52 Lane County, Oregon
We have audited the financial statements of the governmental ac11v1ties, each major fund, and the aggregate remaining fund information of Bethel School District No. 52, Lane County, Oregon (the District) as of and for the year ended Jnne 30, 2012, which collectively comp1ise the Bcthel School District No. 52's basic financial statements and have issued our repmt thereon dated December 31, 2012. \Ve conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.
Internal Control over Financial Rep01ting
In planning and perfon:n:ing our audit, we considered Bethel School District No, 52's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the etlectiveness of the Bethel School District No. 52's internal control over financial reporting. Accordingly, we do not express an opinion cm the effectiveness of the Bethel School District No. 52'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, lo 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 of the internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in the internal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be mateiial weaknesses, as defined above.
Compliance and Other llfatters
As part of obtaining reasonable asm1rnnce about wheilier the Bethel School District No. 52's financial statements are free of material misstatement, we performe<l tests of its compliance with certain provisions of laws, regulationB, contracts and grant agreements, noncompliance with which could have a direct and material effect on the detennination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do no\ express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
We noted certain matters that we reporic:d to management of Bethel School District No. 52, in a separate letter dated December 3 i, 2012.
This report is intended solely for the information and use of management, the School Board, others within the entity, 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.
December 31, 2012
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GROVE, MUELLER & SWANK, P.C. CERTIFIED PUBLIC ACCOUNTANTS .l\ND CONSULTANTS
475 Cottage Street NE, Suite 100, Sale1n, Oregon 97301 (503) 581-7788
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HA VE A DIRECT AND MATERIAL Er"FECT ON EACH MAJOR PROGRAM AND ON
INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
Board of Directors Bethel School District No. 52 Lane Connty, Oregon
Co111plia11ce
We have andited the Bethel School District No. 52, Lane Connty, Oregon's (the District) compliance with the types of compliance requirements described in the (OMB) Circular A-133 Compliance Supplement that could have a direct and material effect on each of the District's major federal programs for the year ended June 30, 2012. The District's major federal programs are identified in the snnunary of auditor's 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 of the District's management. Our responsibility is to express an opinion on the 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 financial 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, and Non-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, evidence about the District's compliance with those requirements and perfonning 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 on the District's compliance with those requirements.
In our opinion, the 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, 2012.
Internal Control over Compliance
Management of the District is responsible for establishing and maintaining effective intemal control over compliance with requirements of laws, regulations, contracts and grants applicable to federal programs. In planning and performing our audit, we considered the District's internal control over compliance with the requirements that could have a direct and material effect on a major federal program lo 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, but 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 of the District's internal control over compliance.
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A deficiency in internal control over compliance exists when the design or operation of a control does not allow management or employees, in the norn1al course of perfornlli1g their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requiremeut of a federal program on a timely basis. A material weala1.ess in internal control over conipliance is a deficiency, or combination of deficiencies, in jntemal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will uot be prevented, or detected and corrected, ou a timely basis.
Our consideration of internal control over compliance was for tbe limited purpose described in the first paragraph of thi.s section and would not necessarily identify all deficiencies in internal control over compliance 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.
We noted certain matters that we reported to management of Bethel School District No. 52, in a separate letter dated December 31, 2012.
This repmt is intended solely for tbe i11fonnation a:nd use of management, the School Board, others within the entity, and federal awarding agencies, and pass-through entities and is not intended to be and should not be used by anyone other than these specified pruties.
December 31, 2012
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BETHJJL SCHOOL DISTRICT NO. 52. LANE COUNTY, OREGON SCHETYULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 2012
SUMMARY OFAUDfl'OR'S RESULTS
Financial Statements Type of auditor's report issued: Internal control over financial reporting:
• Material weakness( es) identified? • Significant deficiency(ies) identified?
Noncompliance material to fmancial statements noted?
Federal Awards Internal control over major programs:
• Material weakness( es) identified? • Significant deficiency(ies) identified that are not considered to be matc1ial weaknesses?
Type of auditor's report issued on compliance for major programs: Any audit fmdings disclosed that are required to be reported in accordance with section 510(a) ofOMB Circular A-133?
Identification of major program:
CFDA Number(s)
84.027, 84.173 & 84.39 J 84.367
Name o[Federa.l Program or Cluster
Special Education Cluster (IDEN ARR.A) Improving Teacher Quality
Dollar threshold used to distinguish between type A and type B programs:
Auditee qualified as low-iisk auditee?
FINANCIAL STATEMENT FINDINGS
None.
FEDERAL AWARD FJNDL'!VGS AND QUESTIONED cos1;<;
None.
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Unqualified
No None reported
No
No None reported
Unqualified
No
$300,000
Yes
BETHEL SCHOOL DISTRICT NO. 52. LANE COUNTY, OREGON SCHEDULE OF PRIOR YEAR FT:VDINGS AND QUESTIONED COSTS YEAR ENDED JUNE 30, 2012
FINANCUL STATElfENT Filv1JINGS
None.
FEDER4L AWARD FINDINGS AND QUESTIONED COSTS
None.
95.
