arcanum butler local school district ?· arcanum butler local school district darke county...

Download ARCANUM BUTLER LOCAL SCHOOL DISTRICT ?· Arcanum Butler Local School District Darke County Independent…

Post on 04-Sep-2018

212 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

  • ARCANUM BUTLER LOCAL SCHOOL DISTRICT DARKE COUNTY

    TABLE OF CONTENTS

    TITLE PAGE Independent Accountants Report ................................................................................................................. 1 Managements Discussion and Analysis ....................................................................................................... 3 Basic Financial Statements June 30, 2012: Government-Wide Financial Statements: Statement of Net Assets Modified Cash Basis June 30, 2012 ........................................................... 9 Statement of Activities Modified Cash Basis For the Fiscal Year Ended June 30, 2012 ................. 10 Fund Financial Statements: Statement of Modified Cash Basis Assets and Fund Balances Governmental Funds As of June 30, 2012 ........................................................................................ 11 Statement of Cash Receipts, Disbursements, and Changes in Modified Cash Basis Fund Balances - Governmental Funds For the Fiscal Year ended June 30, 2012 ........................... 12 Statement of Revenues, Expenditures, and Changes in Fund Balance Budget (Non-GAAP Basis) and Actual General Fund For the Fiscal Year ended June 30, 2012 ............................................................................................. 13 Statement of Fiduciary Net Assets Modified Cash Basis - Fiduciary Funds -June 30, 2012 .............. 14 Statement of Changes in Fiduciary Net Assets Modified Cash Basis- Fiduciary Funds For the Fiscal Year Ended June 30, 2012 .............................................................. 15 Notes to the Basic Financial Statements .................................................................................................... 17 Schedule of Federal Awards Receipts and Disbursements ........................................................................ 37 Notes to the Schedule of Federal Awards Receipts and Disbursements .................................................. 38 Independent Accountants Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Required By Governmental Auditing Standards ....................................................................................... 39 Independent Accountants Report on Compliance with Requirements Applicable to Each Major Federal Program and Internal Control Over Compliance Required by OMB Circular A-133 ................................................................................ 41 Schedule of Findings ................................................................................................................................... 43 Schedule of Prior Audit Findings and Questioned Costs ........................................................................... 45 Independent Accountants Report on Applying Agreed-Upon Procedure .................................................. 47

  • This page intentionally left blank.

  • 1

    OneFirstNationalPlaza,130W.SecondSt.,Suite2040,Dayton,Ohio45402Phone:9372856677or8004439274Fax:9372856688

    www.ohioauditor.gov

    INDEPENDENT ACCOUNTANTS REPORT Arcanum Butler Local School District Darke County 2011 Trojan Ave. Arcanum, Ohio 45304 To the Board of Education: We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Arcanum Butler Local School District, Darke County, Ohio (the School District) as of and for the year ended June 30, 2012, which collectively comprise the School Districts basic financial statements as listed in the table of contents. These financial statements are the responsibility of the School Districts management. Our responsibility is to express opinions on these financial statements based on our audit. 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 the Comptroller General of the United States Government Auditing Standards. Those standards require that we plan and perform the audit to reasonably assure whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our audit provides a reasonable basis for our opinions. Ohio Administrative Code 117-2-03 (B) requires the School District to prepare its annual financial report in accordance with accounting principles generally accepted in the United States of America. However, as discussed in Note 2, the accompanying financial statements and notes follow the modified cash accounting basis. This is a comprehensive accounting basis other than generally accepted accounting principles. The accompanying financial statements and notes omit assets, liabilities, fund equities, and disclosures that, while material, we cannot determine at this time. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective modified cash financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Arcanum Butler Local School District, Darke County, Ohio, as of June 30, 2012, and the respective changes in modified cash financial position, thereof and the budgetary comparison for the General Fund thereof for the year then ended in conformity with the basis of accounting Note 2 describes. In accordance with Government Auditing Standards, we have also issued our report dated October 24, 2012, on our consideration of the School Districts internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. While we did not opine on the internal control over financial reporting or on compliance, that report describes the scope of our testing of internal control over financial reporting and compliance, and the results of that testing. That report is an integral part of an audit performed in accordance with Government Auditing Standards. You should read it in conjunction with this report in assessing the results of our audit.

  • Arcanum Butler Local School District Darke County Independent Accountants Report Page 2

    2

    We conducted our audit to opine on the School Districts financial statements taken as a whole. Managements Discussion & Analysis includes tables of net assets, changes in net assets, and governmental activities. The schedule of federal awards receipts and disbursements (the Schedule) is required by the U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. These tables and the Schedule provide additional information, but are not part of the basic financial statements. However these tables and the Schedule are managements responsibility, and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. These tables and the schedule were subject to the auditing procedures we applied to the basic financial statements. We also applied certain additional procedures, including comparing and reconciling this information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, in accordance with auditing standards generally accepted in the United States of America. In our opinion, this information is fairly stated in all material respects in relation to the basic financial statements taken as a whole. Other than the aforementioned procedures applied to the tables, we applied no procedures to any other information in Managements Discussion & Analysis, and we express no opinion or any other assurance on it. Dave Yost Auditor of State October 24, 2012

  • ARCANUM-BUTLER LOCAL SCHOOL DISTRICT DARKE COUNTY

    MANAGEMENTS DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2012

    UNAUDITED

    3

    This discussion and analysis of the Arcanum-Butler Local School Districts (the District) financial performance provides an overall review of the Districts financial activities for the fiscal year ended June 30, 2012, within the limitations of the Districts modified cash basis accounting. Readers should also review the basic financial statements and notes to enhance their understanding of the Districts financial performance.

    Highlights Key highlights for fiscal year 2012 are as follows: Net assets decreased $2,136,274. General receipts accounted for $9,216,812 in receipts or 81% of all receipts. Program specific cash

    receipts in the form of charges for services, grants, contributions, and interest accounted for $2,222,374, or 19% of total receipts.

    The School District had $13,575,460 in disbursements related to governmental activities; only

    $2,222,374 of these disbursements were offset by program specific charges for services, grants, contributions, and interest. General receipts of $9,216,812 were used to help fund some of these disbursements.

    The General Fund had an increase in fund balance of $238,135 during fiscal year 2012. The

    Classroom Facilities Fund had a decrease in fund balance of $1,638,925 during fiscal year 2012.

    Using the Basic Financial Statements This annual report is presented in a format consistent with the presentation requirements of

Recommended

View more >