independent school district no. 13 - columbia ... school district no. 13 | 11/25/2014 | 3 general...

INDEPENDENT SCHOOL DISTRICT NO. 13Columbia Heights, MinnesotaAudited Financial StatementsJune 30, 2014

11/25/2014Independent School District No. 13 | | 2

Independent Auditor’s Reports

• Unmodified Opinion on Financial Statements- Financial Statements are materially accurate

• Unmodified Opinion on Single Audit- Tested compliance with Child Nutrition, Special

Education• Unmodified Opinion on Minnesota Legal Compliance


General Fund Operations• Budgeted Revenues of $42.9 million• Budgeted Expenditures of $42.9 million• Fund Balance increase budgeted at $45 thousand

• Actual Revenues were $41.5 million, $1.462 million less than budgeted – targeted services, special ed aid, desegregation transportation aid, HMVC aid, Integration aid, Title I and II, federal special ed

• Actual Expenditures were $42.5 million, $333 thousand under budget – regular staffing, ALC, mid year hiring, transportation

• Fund Balance declined $857 thousand to $3.955 million


Students (Resident ADM)

* Estimate as of October 28, 2014

1,489 1,504 1,490 1,475 1,516

1,507 1,544 1,602 1,682 1,748

325 316 348 338 363

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2010 2011 2012 2013 2014*

Secondary Elementary Kindergarten and Other

Weighted Average Daily Membership (WADM)


* Estimate as of October 28, 2014

Breakdown of WADM Served 2010 2011 2012 2013 2014*

Regular 3,367 3,442 3,457 3,474 3,598

Area Learning Center - - - - 120

Total WADM Served 3,367 3,442 3,457 3,474 3,718

WADM Served 2010 2011 2012 2013 2014*

Residents 3,804 3,854 3,926 3,989 4,129

Nonresident WADM Coming In 694 775 859 886 947

Resident WADM Going Elsewhere (1,131) (1,187) (1,328) (1,401) (1,358)

Total WADM Served 3,367 3,442 3,457 3,474 3,718

General Fund Sources of Revenue

11/25/2014Confidential | | 6

$5,738,182 $7,772,666

$5,485,712 $5,720,631 $3,710,334

$23,080,956

$25,567,221 $27,593,202 $28,974,429

$34,708,324 $6,148,902

$3,961,777 $3,878,707

$3,427,080

$3,045,725

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

$35,000,000

$40,000,000

$45,000,000

2010 2011 2012 2013 2014

Local Taxes State Revenues Other Revenues

Expenditures per ADM Served

11/25/2014Confidential | | 7

ISD No. 13 Columbia Heights 2010* 2011* 2012* 2013* 2014**

General Fund 11,251$ 11,844$ 12,203$ 12,823$ 12,823$

General Fund (Less OPEB

Contributions) 11,185 11,527 12,202 12,823 12,823

Food Service 573 559 605 582 642

Community Service 367 400 473 498 492

Building Construction 285 53 177 930 131

Debt Service**** 787 778 779 846 662

Total Expenditures Per Student 13,263$ 13,634$ 14,237$ 15,679$ 14,750$

State Average* 2010*** 2011*** 2012*** 2013*** 2014

General Fund 10,251$ 10,244$ 10,336$ 10,666$ N/A

Food Service 455 466 483 497 N/A

Community Service 496 498 507 515 N/A

Building Construction 669 733 704 673 N/A

Debt Service 1,081 1,102 1,275 1,173 N/A

Total Expenditures Per Student 12,952$ 13,043$ 13,305$ 13,524$

General Fund Operations


For the Year Ended June 30, 2010 2011 2012 2013 2014

Revenues and Other Sources 34,968,040$ 37,301,664$ 36,957,621$ 38,122,140$ 41,464,383$

Expenditures 33,176,523 35,584,192 36,973,262 39,127,266 42,548,108

Excess of Revenues Over

(Under) Expenditures 1,791,517 1,717,472 (15,641) (1,005,126) (1,083,725)

Other Sources 525 3,549 50 3,868 226,471

Fund Balance, July 1 2,341,765 4,786,493 5,829,263 5,813,672 4,812,414

Prior Period Adjustment 652,686 (678,251) - - -

Fund Balance, July 1, Restated 2,994,451 4,108,242 5,829,263 5,813,672 4,812,414

Fund Balance, June 30 4,786,493$ 5,829,263$ 5,813,672$ 4,812,414$ 3,955,160$

Components of Fund Balance

Unassigned 4,112,018$ 4,163,931$ 4,043,433$ 3,854,778$ 2,426,534$

Assigned for:

Student Activities 107,239 103,283 130,167 124,767 127,654

Employees Flex Spending Account - 16,535 10,190 7,208 8,460

Severance-Insurance Premium 958,360 - - - -

Restricted/Reserved for:

Staff Development 46,290 103,963 32,218 - 232,019

Deferred Maintenance 164,922 233,546 243,446 207,266 137,017

Operating Capital 111,122 354,151 458,046 29,198 48,522

Health and Safety (721,456) (58,861) (176,636) (483,253) (228,626)

Alternative Learning Center - - - - 4,022

Safe Schools - Crime Levy 7,998 - - - -

Basic Skills Program - 818,004 1,011,384 987,360 966,071

Nonspendable for:

Inventory - 38,180 38,521 51,477 79,308

Prepaid Items - 56,531 22,903 33,613 154,179

Total Fund Balance, June 30 4,786,493$ 5,829,263$ 5,813,672$ 4,812,414$ 3,955,160$

General Fund Financial Position


$2,648,183

$(166,014) $(140,961)

$3,276,828

$4,184,746 $4,786,493

$5,829,263 $5,813,672

$4,812,414

$3,955,160

$(1,000,000)

$-

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

2010 2011 2012 2013 2014

Cash and Investments (Net of Borrowing) General Fund Balance

Unrestricted Fund Balance as Percent of Unrestricted Expenditures


17.9%

20.9%

22.9%22.2%

17.1%

20.1% 22.0%

23.3%

20.2%

15.4%14.9%

14.0%

9.4%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

2010* 2011* 2012* 2013* 2014**

All Schools and Charters* ADM 2200-4449* Columbia Heights School District

Food Service Fund



Revenues 1,628,532$ 1,756,618$ 1,855,853$ 1,912,273$ 2,049,204$

Expenditures 1,689,810 1,679,372 1,833,066 1,776,093 2,128,899


(Under) Expenditures (61,278) 77,246 22,787 136,180 (79,695)

Other Sources 7,500 225 - - -

Fund Balance, July 1 205,382 151,604 229,075 251,862 388,042

Fund Balance, June 30 151,604$ 229,075$ 251,862$ 388,042$ 308,347$

Community Service Fund



Revenues 1,125,671$ 1,252,285$ 1,334,905$ 1,442,396$ 1,605,033$

Expenditures 1,083,572 1,200,741 1,432,457 1,518,815 1,633,271


(Under) Expenditures 42,099 51,544 (97,552) (76,419) (28,238)

Fund Balance, July 1 236,682 278,781 330,325 232,773 156,354

Fund Balance, June 30 278,781$ 330,325$ 232,773$ 156,354$ 128,116$


QuestionsCaroline Stutsman(320) 202-7706

Thank you!

independent school district no. 13 - columbia ... school district no. 13 | 11/25/2014 | 3 general...

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