HomeMy WebLinkAbout2020 Bonneville School District AuditBonneville Joint
School District #93
Idaho Falls, Idaho
Annual Financial Report
Year Ended June 30, 2020
Bonneville Joint School District #93
Contents
June 30, 2020
MANAGEMENT’S DISCUSSION & ANALYSIS ........................................................................................... 1-7
INDEPENDENT AUDITOR’S REPORT .......................................................................................................... 8-9
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position ............................................................................................................................10
Statement of Activities ................................................................................................................................11
Fund Financial Statements
Combined Balance Sheet
Governmental Funds....................................................................................................................................12
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position ..................................................................................................................13
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances............................... 14-15
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures,
And Changes in Fund Balances to the Statement of Activities ...................................................................16
Fiduciary Funds
Statement of Fiduciary Net Position ............................................................................................................17
Notes to Financial Statements ...................................................................................................................... 18-40
REQUIRED FINANCIAL INFORMATION
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual .......................................................................................................................................... 41-42
Required Supplementary Information.......................................................................................................... 43-45
Notes to Required Supplementary Information .................................................................................................46
OTHER FINANCIAL INFORMATION
All Nonmajor Funds
Combining Balance Sheet ..................................................................................................................................47
All Nonmajor Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance ............................................48
i
Bonneville Joint School District #93
Contents
June 30, 2020
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities ......................................................................... 49-50
Schedule of Taxes Receivable ..................................................................................................................... 51-52
ANNUAL FEDERAL COMPLIANCE SECTION
Independent Auditor’s Report on Internal Control
Over Financial Reporting and on Compliance and Other Matters Based
on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards .................................................................................................................. 53-54
Independent Auditor’s Report on Compliance for Each Major
Federal Program and Report on Internal Control Over
Compliance Required by the Uniform Guidance ......................................................................................... 55-56
Schedule of Findings and Questioned Costs ................................................................................................ 57-58
Schedule of Expenditures of Federal Awards .............................................................................................. 59-60
Notes to Schedule of Expenditures of Federal Awards .....................................................................................61
Summary Schedule of Prior Audit Findings .....................................................................................................62
ii
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
The discussion and analysis of Bonneville Joint School District #93’s financial performance provides an overall
review of the District’s financial activities for the fiscal year ended June 30, 2020. The intent of this discussion
and analysis is to look at the District’s financial performance as a whole; readers should also review the notes to
the basic financial statements and the financial statements to enhance their understanding of the District’s
financial performance.
FINANCIAL HIGHLIGHTS
Key financial highlights for 2020 are as follows:
In total, net position increased $7,262,602 which represents an 23.83% increase from 2019 balance of
$30,478,697.
General revenues accounted for $90,727,713 in revenue or 79.69% of all revenues. Program specific revenues in
the form of charges for services, operating grants and contributions, and capital grants and contributions
accounted for $23,125,960 or 20.31% of total revenues of $113,853,673.
Total assets of governmental activities increased by $3,293,982, as cash and cash equivalents decreased by
$8,960,395, receivables and prepaid expenses increased by $2,463,012, inventory increased by $48,558, and
capital assets increased by $9,742,011. Unrestricted net position, the part of net position that can be used to
finance day-to-day activities without constraints established by grants or legal requirements, of the District
increased by $2,874,473.
The District had $106,591,071 in expenses; only $23,125,960 of these expenses were offset by program specific
charges for services, grants, or contributions. General revenues (primarily state support and local property taxes)
of $90,727,713 were adequate to provide for these programs.
Among major funds, the General Fund had $83,310,969 in revenues, and $81,478,595 in expenditures. The
General Fund’s fund balance increased $1,371,208 from 2019.
USING THE BASIC FINANCIAL STATEMENTS
This annual report consists of a series of financial statements and notes to those statements. These statements are
organized so the reader can understand Bonneville Joint School District #93 as a financial whole, an entire
operating entity. The statements then proceed to provide an increasingly detailed look at specific financial
activities.
The Statement of Net Position and the Statement of Activities provide information about the activities of the
whole school district, presenting both an aggregate view of the District’s finances, and a longer-term view of
those finances. Fund financial statements provide the next level of detail. For governmental funds, these
statements tell how services were financed in the short-term, as well as what remains for future spending. The
fund financial statements also look at the District’s most significant funds with all other nonmajor funds presented
in total in one column. In the case of Bonneville Joint School District #93, the General Fund is by far the most
significant fund.
1
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
REPORTING THE DISTRICT AS A WHOLE
Statement of Net Position and the Statement of Activities
While this document contains the large number of funds used by the District to provide programs and activities,
the view of the District as a whole looks at all financial transactions and asks the question, “How did we do
financially during 2020?” The Statement of Net Position and the Statement of Activities answer this question.
These statements include all assets and liabilities using the accrual basis of accounting similar to the accounting
used by most private-sector companies. This basis of accounting takes into account all of the current year’s
revenues and expenses regardless of when cash is received or paid.
These two statements report the District’s net assets and changes in those assets. This change in net position is
important because it tells the reader that, for the District as a whole, the financial position of the District has
improved or diminished. The causes of this change may be the result of many factors, some financial and some
not. Nonfinancial factors include the District’s property tax base, current property tax laws in Idaho restricting
revenue growth, facility condition, required educational programs, and other factors.
In the Statement of Net Position and the Statement of Activities, the District reports governmental activities.
Governmental activities are the activities where most of the District’s programs and services are reported
including, but not limited to, instruction, support services, operation and maintenance of plant, pupil,
transportation, and extracurricular activities. The District does not have any business type activities.
REPORTING THE DISTRICT’S MOST SIGNIFICANT FUNDS
Fund Financial Statements
The analysis of the District’s major funds begins on page 12. Fund financial reports provide detailed information
about the District’s major funds. The District uses many funds to account for a multitude of financial transactions.
However, these fund financial statements focus on the District’s most significant funds. The District’s major
governmental funds are the General, Debt Service, Capital Projects, and Construction 2018 Funds.
Governmental Funds
Most of the District’s activities are reported in governmental funds, which focus on how money flows into and out
of those funds and the balances left at year end available for spending in the future periods. These funds are
reported using an accounting method called modified accrual accounting, which measures cash and all other
financial assets that can readily be converted to cash. The governmental fund statements provide a detailed short-
term view of the District’s general government operations and the basic services it provides. Governmental fund
information helps you determine whether there are more or fewer financial resources that can be spent in the near
future to finance educational programs. The relationship (or differences) between governmental activities
(reported in the Statement of Net Position and the Statement of Activities) and governmental funds is reconciled
in the financial statements.
The District serves as a trustee, or fiduciary, for student organizations and programs. The assets of these
organizations and programs do not directly benefit nor are they under the direct control of the District. The
District’s responsibility is limited to ensuring the assets reported in these funds are used only for their intended
purposes. Fiduciary activities are excluded from the government-wide financial statements because the District
cannot use these assets to finance its operations.
2
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
THE DISTRICT AS A WHOLE
Recall that the Statement of Net Position provides the perspective of the District as a whole. The following table
provides a summary of the District’s net position for 2020 compared to 2019:
Assets
Current and other assets
Capital assets
Total assets
Deferred outflows of resources
Current and other liabilities
Long-term liabilities
Total liabilities
Deferred inflows of resources
Net investment in capital assets
Restricted
Unrestricted
Total net position
2020 2019
66,223,550
139,951,819
72,671,579
130,209,808
206,175,369 202,881,387
11,812,174 12,682,304
17,489,490
153,184,214
14,533,132
164,599,873
170,673,704 179,133,005
9,572,540 5,951,989
25,501,198
24,006,240
(11,766,139)
37,741,299
24,134,348
20,984,961
(14,640,612)
30,478,697
Total assets of governmental activities increased by $3,293,982, as cash and cash equivalents decreased by
$8,960,395, receivables increased by $2,463,012, inventory increased by $48,558, and capital assets increased by
$9,742,011. The District’s assets and deferred outflows of resources exceeded liabilities and deferred inflows of
resources by $37,741,299 at the close of the most recent fiscal year. Unrestricted net position, the part of net
position that can be used to finance day-to-day activities without constraints established by grants or legal
requirements, of the District increased by $2,874,473 from 2019.
3
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
The following table shows the changes in net position for fiscal years 2020 and 2019:
2020 2019
Revenues
Program revenues
Charges for services 3,449,040 3,752,619
Operating grants and contributions 19,676,920 18,676,298
General revenues
Property taxes 20,596,067 18,108,442
State aid 67,624,096 62,161,518
Federal aid 35,567 22,474
Other 2,471,983 2,575,434
Total revenues 113,853,673 105,296,785
Program expenses
Instruction 57,914,572 58,067,752
Support services 18,085,973 17,173,968
Administrative 7,112,663 7,388,801
Business admin services 2,161,893 2,225,366
Operations 9,043,047 9,197,915
Transportation 3,964,627 4,343,281
Community service 94,993 144,605
Non-instructional 3,495,063 3,623,659
Interest and fiscal charges 3,866,125 4,015,700
Capital improvements 852,115 1,881,851
Total expenses 106,591,071 108,062,898
Increase (decrease) in net position 7,262,602 (2,766,113)
GOVERNMENTAL ACTIVITIES
Governmental revenues come primarily from three sources. State aid of $79,919,329 consists of the state
apportionment, other state grants, and revenue in lieu of taxes, and makes up 70.19% of revenues from
governmental activities. Property taxes of $20,596,067 make up 18.09% of total revenues from governmental
activities. Federal contracts and grants of $10,084,838 make up 8.86% of total revenues from governmental
activities.
Instruction expenditures including the support activities of support services, administrative, business admin
services, operations, and transportation comprise $98,282,775 of District expenses.
4
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
The Statement of Activities shows the cost of program services and the charges for services and grants offsetting
those services. The following table shows the total cost of services and the net cost of services. That is, it
identifies the cost of these services supported by tax revenue and unrestricted state entitlements.
% of Total cost of Net cost of
Total Services 2020 Services 2020
Instruction 54.33 57,914,572 50,700,288
Support services 16.97 18,085,973 13,054,551
Administrative 6.67 7,112,663 7,081,574
Business admin services 2.03 2,161,893 2,141,685
Operations 8.48 9,043,047 7,985,815
Transportation 3.72 3,964,627 1,000,075
Community service 0.09 94,993 94,993
Non-instructional 3.28 3,495,063 (28,616)
Interest and fiscal charges 3.63 3,866,125 735,737
Capital improvements 0.80 852,115 699,009
Total expenses 100 106,591,071 83,465,111
Instruction: Instruction expenses include activities directly dealing with the teaching of pupils and the interaction
between teacher and pupil.
Support Services: Support Services provide personnel services, activities, and programs for the administration,
management, technical, and logistical support to facilitate and enhance the function of instruction and shall
provide for the general operation of the schools.
Administration: The personnel, activities, and services for directing and managing the operation of the schools in
the District. (Principals, assistant principals, secretaries, and clerks charged with responsibility for a school’s
administration) Board of Education, Administration, includes expenses associated with administrative supervision
of the District.
Business Admin Services: The program concerned with the fiscal operations of the District. This program may
include budgeting, fiscal and business expenditures, receiving and disbursing, purchasing, financial and property
accounting, payroll, internal auditing, and activities that support other administrative and instructional functions
including fiscal services, human resources, planning, and administrative information technology.
Operations: Operations and maintenance includes the personnel, activities, and programs concerned with keeping
the physical plant operational and keeping the grounds, buildings, and equipment in effective working condition
and in an adequate and safe state of repair.
Community Services: Community Services provide training and materials for parents in the form of workshops,
in-service, parent/ family nights, a parent center library, and Pine Basin summer camp. These services better train
parents to help students reach state standards.
Transportation: Transportation includes the personnel, activities, and services for providing student transportation
to school and to activities and to provide for the general administrative and maintenance needs of District
vehicles.
Non-instructional: Non-instructional services include the preparation, delivery, and servicing of lunches, snacks,
and other incidental meals to students and school staff in connection with school activities.
5
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
Interest and Fiscal Charges: Interest and Fiscal Charges involve the transactions associated with the payment of
interest and other related charges to the debt of the District.
Capital Improvements: Capital Improvements include capital expenditures for the schools that are not capitalized
under the District’s capitalization policy.
THE DISTRICT’S FUNDS
Information about the District’s major funds starts on page 12. These funds are accounted for using the modified
accrual basis of accounting. All governmental funds had total revenues of $113,776,729 and expenditures of
$124,023,269. The net change in fund balance for the year in the General Fund, Debt Service Fund, Capital
Projects Fund, and Construction 2018 Fund, was an increase of $1,371,208, an increase of $2,285,379, an
increase of $383,787, and a decrease of $14,767,744 respectively.
GENERAL FUND BUDGETING HIGHLIGHTS
During the course of fiscal 2020 year, the District did not amend its budget.
For the General Fund, the budgeted revenue was $82,818,224 and the budgeted expense was $82,539,153. Actual
revenue was $83,310,969 which includes $688,639 for leadership premiums to qualifying personnel and $457,299
in professional development funds. Actual expenditures were $81,478,595, which include expenditures related to
the leadership premiums and professional development.
CAPITAL ASSETS
At the end of the fiscal year 2020, the District had $139,951,819 invested in land, buildings, furniture and
equipment, and vehicles (net of accumulated depreciation).
2020 2019
Non-depreciable assets 25,564,512 10,643,035
Buildings and improvements 110,656,914 115,609,949
Equipment 1,664,382 1,852,086
Vehicles 2,066,011 2,104,738
Total capital assets, net 139,951,819 130,209,808
Overall capital assets increased $9,742,011 from fiscal year 2019 to fiscal year 2020. Increase in capital assets,
primarily buildings, equipment, and vehicles, was mostly due to the construction of the new middle school.
DEBT ADMINISTRATION
At June 30, 2020, the District had five general obligation bond issues as follows:
Due within
Total one year
2012A Series Bond 11,780,000
2012C Series Bond 8,115,000 1,020,000
2016A Series Bond 49,165,000 835,000
2016B Series Bond 19,035,000 1,790,000
2018 Series Bond 28,905,000
Total 117,000,000 3,645,000
At June 30, 2020, the District’s overall legal debt margin was $158,081,629.
6
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2020
CURRENT FINANCIAL ISSUES AND CONCERNS
Despite the impacts of COVID-19, Bonneville Joint School District 93 ended Fiscal Year 2020 without deficit
spending. COVID-19 has impacted Bonneville School District 93 in several ways. In March 2020, Governor
Little announced a 1% budget holdback for all Idaho School Districts. This holdback resulted in approximately
$750,000 in reduced state funding for FY 2020. Because schools building were closed from the end of March
through the end of May, there were significant savings in operational costs such as utilities and substitute
teachers. After the state legislature approved the Fiscal Year 2021 Public School Budget, the Governor ordered a
five percent holdback. In the last week, we received word that the holdback is being restored as discretionary
funds, but we do not yet have enough details to know the impact to our District.
Additionally, Bonneville School District 93 has been awarded several Coronavirus Relief related funds that we
will use according to the specifications and stipulations of each individual grant. Because our school district has
been operating online schools in addition to traditional schools for many years, we have been able to manage
online learning for those who have chosen this method of instruction.
Enrollment in our schools for many years has been increasing, but that trend did not continue as we opened school
in August 2020. Enrollment stayed mostly flat as compared to one year ago. Because of COVID-19, we expect
attendance rates to be lower than normal this year, which typically would have a large impact on state funding.
However, the State Board of Education has authorized schools to be funded on enrollment instead of attendance
this coming year, so our budget projections remain accurate.
Because we did not experience growth as we have in prior years, the District did not qualify for $1,500,000
Emergency Levy Property Tax Funds that we had budgeted to receive in Fiscal Year 2021. Fortunately, the
District has available funds in prior year savings to cover this revenue reduction. We will also be watching for
opportunities to reduce costs as we continue through the school year. As we move forward through this school
year and prepare for next year’s budget cycle, we will be very cautious with staffing levels as that is where close
to ninety percent of our operating budget is spent.
COMPONENT UNIT
These financial statements do not include the Bonneville Education Foundation, a component unit of the District.
The financial information for the Foundation will be available at the District office.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, investors, and creditors with a general
overview of the District’s finances and to show the District’s accountability for the money it receives. If you have
questions about this report or need additional financial information contact Guy Wangsgard, Chief Financial/
Operations Officer, at Bonneville Joint School District #93, 3497 North Ammon Road, Idaho Falls, Idaho 83401
or email at GuyW@d93.k12.id.us.
7
INDEPENDENT AUDITOR’S REPORT
Board of Trustees
Bonneville Joint School District #93
3497 N. Ammon Road
Idaho Falls, Idaho
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of Bonneville Joint School District #93 (the District), as of and for the year
ended June 30, 2020, and the related notes to the financial statements, which collectively comprise the District’s
basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are
free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
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 and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no
such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund, and the aggregate remaining fund information
of Bonneville Joint School District #93, as of June 30, 2020, and the respective changes in financial position for
the year then ended in accordance with accounting principles generally accepted in the United States.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States require that the Management’s Discussion and
Analysis, budgetary comparison information, Schedule of Changes in Total OPEB Liability and Related Ratios,
schedule of employer’s share of net OPEB asset PERSI-Sick Leave plan last 10 fiscal years, schedule of employer
8
contribution PERSI-Sick Leave Plan last 10 fiscal years, and schedule of employer’s share of net pension liability
for PERSI-Base plan last 10 fiscal years and schedule of employer contributions PERSI-Base plan for last 10
fiscal years listed in the table of contents on pages 1 through 7 and pages 41 through 46 be presented to
supplement the basic financial statements. Such information, although not a part of the basic financial statements,
is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical context.
We have applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States, 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 financial statements, and other knowledge we obtained during our audit of the
basis financial statements. We do not express an opinion or provide any assurance on the information because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the District’s basic financial statements. The accompanying supplementary information, such as the
combining and individual nonmajor fund financial schedules, the agency fund combining schedule of changes in
assets and liabilities, other schedules listed in the table of contents, and the schedule of expenditures of federal
awards, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), are not a required part of the
financial statements.
The combining and individual nonmajor fund financial schedules, the agency fund combining schedule of
changes in assets and liabilities, other schedules listed in the table of contents, and the schedule of expenditures of
federal awards are the responsibility of management and were derived from and relate directly to the underlying
accounting and other records used to prepare the basic financial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other records
used to prepare the basic financial statements or to the basic financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States. In our opinion, the
combining and individual nonmajor fund financial schedules, the agency fund combining schedule of changes in
assets and liabilities, other schedules listed in the table of contents and the schedule of expenditures of federal
awards are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated October 21, 2020, on
our consideration of Bonneville Joint School District #93’s internal control over financial reporting and on our
tests of its compliance with certain provisions of laws, regulations, contracts, 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, and not to provide an opinion on the effectiveness of Bonneville Joint
School District #93’s internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standards in considering the District’s internal
control over financial reporting and compliance.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 21, 2020
9
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Bonneville Joint School District #93
Statement of Net Position
June 30, 2020
Governmental
Activities
ASSETS
Cash and investments 48,939,311
Property tax receivable, net 7,802,188
Other receivables 5,883,712
Supplies inventory 140,553
PERSI Sick Leave 3,457,786
Land and construction in progress 25,564,512
Depreciable buildings, equipment, and vehicles, net of depreciation 114,387,307
Total assets 206,175,369
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 1,764,851
Changes of assumptions and other inputs - OPEB 286,698
Changes of assumptions and other inputs - PERSI SL 695,089
Related to pensions 9,065,536
Total deferred outflows of resources 11,812,174
LIABILITIES
Accounts payable 2,658,220
Accrued wages 9,728,555
Accrued employee benefits 3,517,776
Interest payable 1,584,939
Long-term liabilities
Net pension liability 17,228,315
Portion due or payable within one year
Other liabilities 267,675
Portion due or payable after one year
General obligation bonds/premium 126,500,377
Other post employment benefits 3,778,339
Total liabilities 170,673,704
DEFFERED INFLOWS OF RESOURCES
Differences between expected & actual experience - OPEB 1,473,055
Differences between expected & actual experience - PERSI SL 199,855
Related to pensions 7,899,630
Total deferred inflows of resources 9,572,540
NET POSITION
Net investment in capital assets 25,501,198
Restricted for
Capital improvements 7,401,649
Debt service 12,533,014
Child nutrition 1,253,844
Other 2,817,733
Unrestricted (11,766,139)
Total net position 37,741,299
The accompanying notes are an integral part of these statements.
10
0
0
0
Bonneville Joint School District #93
Statement of Activities
Fiscal Year Ended June 30, 2020
Net (expense)
revenue and
changes in
Program Revenues net position
Operating Capital Total
Charges for grants and grants and governmental
Functions / Programs Expenses services contributions contributions activities
Governmental activities
Instruction 57,914,572 1,290,785 5,923,499 (50,700,288)
Support services 18,085,973 1,438,642 3,592,780 (13,054,551)
Administrative 7,112,663 19,094 11,995 (7,081,574)
Business admin services 2,161,893 20,208 (2,141,685)
Operations 9,043,047 1,057,232 (7,985,815)
Transportation 3,964,627 65,269 2,899,283 (1,000,075)
Community service 94,993 (94,993)
Noninstructional 3,495,063 635,250 2,888,429 28,616
Interest on long-term debt 3,866,125 3,130,388 (735,737)
Capital improvements 852,115 153,106 (699,009)
Total governmental activities 106,591,071 3,449,040 19,676,920 0 (83,465,111)
General revenues
Taxes
Property taxes 20,348,045
Property tax replacement 248,022
Federal grants 35,567
State aid - formula grants 66,429,081
Other state revenues 1,195,015
Investment earnings 889,682
Other local 1,625,601
Special items
Gain (loss) on sale of assets (43,300)
Total general revenues 90,727,713
Change in net position 7,262,602
Net position - beginnng 30,478,697
Net position - ending 37,741,299
The accompanying notes are an integral part of these statements.
11
0
0
0
0 0 0 0
0
0 0 0 0
0 0 0 0
0
0 0 0
0 0 0
0 0 0
0 0 0
0
0 0 0 0
0
0
Bonneville Joint School District #93
Combined Balance Sheet
Governmental Funds
June 30, 2020
All Total
ASSETS
Cash and investments
Receivables
Taxes - current
Taxes - delinquent
State apportionment
Federal grants/contracts
Other
Interfund receivable
Supplies inventory
General
11,730,058
2,724,297
291,689
2,829,287
7,971
1,511,690
Debt
Service
8,830,642
3,365,487
329,968
6,917
Capital
Projects
6,385,926
984,731
106,016
Construction
2018
17,566,427
19,199
Nonmajor
Funds
4,426,258
2,727,326
293,012
140,553
Governmental
Funds
48,939,311
7,074,515
727,673
2,829,287
2,727,326
327,099
1,511,690
140,553
Total assets 19,094,992 12,533,014 7,476,673 17,585,626 7,587,149 64,277,454
LIABILITIES
Accounts payable
Accrued wages
Accrued employee benefits
Interfund payable
230,587
8,739,041
2,964,804
75,024 2,124,898
5,176
227,711
989,514
552,972
1,506,514
2,658,220
9,728,555
3,517,776
1,511,690
Total liabilities 11,934,432 0 75,024 2,130,074 3,276,711 17,416,241
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 291,689 329,968 106,016 0 0 727,673
FUND BALANCES
Nonspendable
Inventory
Restricted for
Debt service
Child nutrition
Other fund activities
Assigned
Unassigned
6,497,261
371,610
12,203,046
7,295,633 15,455,552
140,553
1,113,291
3,056,594
140,553
12,203,046
1,113,291
25,807,779
6,497,261
371,610
Total fund balances 6,868,871 12,203,046 7,295,633 15,455,552 4,310,438 46,133,540
Total liabilities, deferred
inflows of resources,
and fund balances 19,094,992 12,533,014 7,476,673 17,585,626 7,587,149 64,277,454
The accompanying notes are an integral part of these statements.
12
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2020
Total fund balances - governmental funds
Amounts reported for governmental activities in the Statement of Net Position are
different because:
Governmental funds report the effect of premiums, discounts, and similar items when
the bonds are first issued by the District whereas these amounts are deferred and
amortized in the Statement of Activities.
The net pension liability and the deferred outflows of resources and deferred inflows of
resources related to pensions are only reported in the Statement of Net Position: Net
pension liability is $17,228,315, deferred inflows of resources related to pensions is
$7,899,630 and deferred outflows of resources related to pensions is $9,065,536.
The net PERSI sick leave asset and the deferred outflows of resources and deferred
inflows of resources related to PERSI sick leave are only reported in the Statement of
Net Position: Net PERSI asset is $(3,457,786), deferred inflows of resources related to
PERSI sick leave is $199,855 and deferred outflows of resources related to PERSI sick
leave is $695,089.
Capital assets used in governmental activities are not current financial resources and
therefore are not reported as assets in governmental funds. The cost of the assets is
$225,032,547 and the accumulated depreciation is $85,080,728.
Property taxes receivable will be collected this year but are not available soon enough
to pay for the current period's expenditures, and therefore are unearned in the funds.
Deferred outflows and inflows of resources related to other post employment benefits
are not current financial resources and therefore are not reported in the fund financial
statements, but are reported on the Statement of Net Position.
Long-term liabilities, including bonds payable, are not due and payable in the current
period and therefore are not reported as liabilities in the funds.
Long-term liabilities at year end consisted of:
Bonds payable (117,000,000)
Accrued interest on the bonds (1,584,939)
Compensated absences (267,675)
OPEB obligation (3,778,339)
Total net position - governmental activities
46,133,540
(13,145,034)
(16,062,409)
3,953,020
139,951,819
727,673
(1,186,357)
(122,630,953)
37,741,299
The accompanying notes are an integral part of these statements.
13
0
0
0
0 0 0 0
0 0 0
0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0
0 0
0 0 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0 0
0 0 0 0
0
0 0
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2020
All Total
Debt Capital Construction Nonmajor Governmental
General Service Projects 2018 Funds Funds
REVENUES
Property taxes 7,790,559 9,542,991 2,806,664 20,140,214
Penalties and interest
on delinquent taxes 34,140 38,702 14,745 87,587
Earnings on investments 182,999 140,790 555,422 10,471 889,682
Food service 731,442 731,442
Rental 19,094 19,094
Other local 491,868 153,106 1,259,569 1,904,543
State apportionment
Base 58,525,730 58,525,730
Transportation 2,899,283 2,899,283
Exceptional child 12,836 12,836
Benefits 7,903,351 7,903,351
Property tax replacement 147,863 100,159 248,022
Other state revenue 5,303,246 3,130,388 1,896,473 10,330,107
Federal grants and contracts 10,084,838 10,084,838
Total revenues 83,310,969 12,953,030 2,974,515 555,422 13,982,793 113,776,729
EXPENDITURES
Current
Instruction 48,584,578 133,375 4,495,171 53,213,124
Support services 13,079,618 273,849 4,956,150 18,309,617
Administration 6,723,627 26,909 11,995 6,762,531
Business operations 1,691,634 450,015 20,244 2,161,893
Operations 7,781,321 1,477,809 100,978 9,360,108
Transportation 3,526,878 466,534 1 3,993,413
Community services 90,939 4,054 94,993
Noninstructional 3,530,304 3,530,304
Debt service 10,667,651 10,667,651
Facility acquisition 237,867 15,323,166 368,602 15,929,635
Total expenditures 81,478,595 10,667,651 3,066,358 15,323,166 13,487,499 124,023,269
Revenues over
(under expenditures) 1,832,374 2,285,379 (91,843) (14,767,744) 495,294 (10,246,540)
The accompanying notes are an integral part of these statements.
14
0 0
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2020
General
OTHER FINANCING
SOURCES (USES)
Proceeds from sale of fixed assets
Operating transfers, net (461,166)
Debt
Service
Capital
Projects
33,519
442,111
Construction
2018
All Total
Nonmajor Governmental
Funds Funds
33,519
19,055 0
Total other financing
sources (uses) (461,166) 0 475,630 0 19,055 33,519
Revenues and other financing sources
over (under) expenditures 1,371,208 2,285,379 383,787 (14,767,744) 514,349 (10,213,021)
Fund balance - July 1, 2019 5,497,663 9,917,667 6,911,846 30,223,296 3,796,089 56,346,561
Fund balance - June 30, 2020 6,868,871 12,203,046 7,295,633 15,455,552 4,310,438 46,133,540
The accompanying notes are an integral part of these statements.
15
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances to the Statement of Activities
For Fiscal Year Ended June 30, 2020
Total net change in fund balances - governmental funds: (10,213,021)
Amounts reported for governmental activities in the Statement of Activities are different
because:
Governmental funds report the effect of premiums, discounts, and similar items when debt is
issued whereas these amounts are deferred and amortized in the statement of activities. This
amount is the net effect of these differences. 6,753,620
Capital outlays are reported in governmental funds as expenditures. However, in the
Statement of Activities, the cost of those assets is allocated over their estimated useful lives
as depreciation expense. This is the amount by which capital outlays exceeded depreciation 9,742,011
and asset dispositions.
Because some property taxes will not be collected for several months after the District's
fiscal year ends, they are not considered 'available' revenues in the governmental funds.
Unearned tax revenues increased by $120,244 this year. 120,244
Vested employee benefits are reported in the governemental funds when amounts are paid.
The Statement of Activities reports the value of benefits earned during the year. The
changes in the OPEB obligations, PERSI SL asset, net pension liability, and the related
deferred outlfows and inflows in addition to the change in compensated absences are all
differences. 811,842
Interest on long-term debt in the Statement of Activities differs from the amount reported in
the governmental funds because interest is recognized as an expenditure in the fund when it
is due, and thus requires the use of current financial resources. In the Statement of
Activities, however, interest expense is recognized as the interest accrued, regardless of
when it is due. The decrease in interest expense reported in the Statement of Activities is
the net result of the decrease in accrued interest on bonds by $47,906. 47,906
Change in net assets of governmental activities 7,262,602
The accompanying notes are an integral part of these statements.
16
Bonneville Joint School District #93
Fiduciary Funds
Statement of Fiduciary Net Position
June 30, 2020
Agency
Funds
ASSETS
Cash 1,472,018
Investments 21,030
Total assets 1,493,048
LIABILITIES
Accounts payable 1,088
Due to student groups 1,491,960
Total liabilities 1,493,048
The accompanying notes are an integral part of these statements.
17
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Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1. General. The basic financial statements listed in the table of contents have been prepared in accordance with
the American Institute of Certified Public Accountants’ Industry Audit Guide for Audits of State and Local
Government Units.
2. Reporting Entity. The Bonneville Joint School District #93 (the District) is the basic level of government,
which has financial accountability and control over all activities related to the public school education in the
area served. The District receives funding from local, state, and federal government sources and must comply
with the requirements of these funding source entities. The District is not included in any other governmental
“reporting entity” as defined by GASB pronouncement, since Board members are elected by the public and
have decision making authority, the authority to levy taxes, the power to designate management, the ability to
significantly influence operations, and primary accountability for fiscal matters.
3. Discretely Presented Component Unit. The Bonneville Joint School District #93 Education Foundation (the
Foundation) is responsible for fund raising to support the District. The Board of the Foundation is appointed
by the District and is accountable to the District. The Foundation is a non-profit organization and is presented
on the accrual basis of accounting. The District has elected not to include the Foundation at June 30, 2020, as
it is immaterial to the District.
Complete financial information for the component unit may be obtained at the District’s administrative office.
4. Government-wide and Fund Financial Statements. The government-wide financial statements (i.e., the
Statement of Net Position and the Statement of Activities) report information on all of the non-fiduciary
activities of the District. For the most part, the effect of interfund activity has been removed from these
statements.
The Statement of Activities demonstrates the degree to which the direct expenses of a given function are
offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function.
Program revenues include (1) charges to customers or applicants who purchase, use, or directly benefit from
goods, services, or privileges provided by a given function, and (2) grants and contributions that are restricted
to meeting the operational or capital requirements of a particular function. Taxes and other items not included
among program revenues are reported as general revenues.
Separate financial statements are provided for governmental funds and fiduciary funds, even though the latter
are excluded from the government-wide financial statements. Major individual governmental funds are
reported as separate columns in the fund financial statements.
5. Fund Accounting. The District uses funds to report on its financial position and results of its operations. Fund
accounting is designed to demonstrate legal compliance and to aid financial management by segregating
transactions related to certain government functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. Funds are classified into three
categories: governmental, proprietary, and fiduciary. The emphasis of fund financial statements is on major
governmental funds, each reported in a separate column. All remaining governmental funds are aggregated
and reported as nonmajor funds. Major individual governmental funds are reported as separate columns in the
fund financial statements.
Governmental Fund Types:
General Fund -The General Fund is the general operating fund of the District. It is used to account for all
financial resources except those required to be accounted for in another fund.
18
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
Debt Service Fund -The Debt Service Fund is used to account for the accumulation of resources and for the
repayment of general long-term debt principal, interest, and related costs. The primary revenue source is local
property taxes levied specifically for debt service.
Capital Projects Fund -The Capital Projects Fund is used to account for the financial resources used to
acquire school facilities, renovate existing facilities, or as otherwise provided in the Idaho Code.
Special Revenue Fund -The purpose of the Special Revenue Fund is to account for federal, state, and locally
funded grants. These grants are awarded to the District with the purpose of accomplishing specific
educational tasks as defined in the Grant Awards. Special Revenue Fund types include the Child Nutrition
Fund. The purpose of the Child Nutrition Fund is to account for all federal support and student charges, which
are received by the District for the purpose of providing students with a nutritional, inexpensive meal.
Fiduciary Fund Types
Agency Fund (School Activity Funds) -Activity Funds are monies collected principally through fund raising
efforts of the individual schools or school sponsored groups. The school principal is responsible, under the
authority of the Board of Trustees, for collecting, controlling, disbursing, and accounting for all School
Activity Funds.
6. Basis of Accounting. The District applies the provisions of GASB Statement No. 34, Basic Financial
Statements and Management’s Discussion and Analysis for State and Local Governments. This Statement is
meant to present the information in a format more closely resembling that of the private sector and to provide
the user with more managerial analysis regarding the financial results and the District’s financial outlook.
Government-wide Financial Statements
The government-wide financial statements (Statement of Net Position and Statement of Activities) display
information about the reporting government as a whole. These statements include all the financial activities of
the District, except for its fiduciary funds. Generally, the effect of material interfund activity has been
removed from the government-wide financial statements.
The Statement of Activities demonstrates the degree to which the direct expenses of given functions are offset
by program revenues. Direct expenses are those that are clearly identifiable with a specific function.
Program revenues include charges to customers or applicants who purchase, use, or directly benefit from
goods, services, or privileges provided by a given function and grants and contributions that are restricted to
meeting the operational or capital requirements of a particular function. Taxes and other internally directed
revenues are reported instead as general revenues.
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a
liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues
in the year for which they are levied. Grants and similar items are recognized as revenue as soon as eligibility
requirements imposed by the provider have been met.
The District applies restricted resources first when an expense is incurred for which both restricted and
unrestricted resources are available. Depreciation has been allocated specifically to functional areas with the
majority of it being allocated to instructional. Interest on long-term debt is considered an indirect expense and
is reported separately on the Statement of Activities.
19
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
Governmental Fund Financial Statements
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period or
soon enough thereafter to pay liabilities of the current period. For this purpose, the District considers revenues
to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures
generally are recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to compensated absences and claims and judgments, are
recorded only when payment is due. General capital asset acquisitions are reported as expenditures in the
governmental funds. Issuance of long-term debt and acquisitions under capital leases are reported as other
financing sources.
The agency funds are accounted for on the accrual basis of accounting.
Property taxes and interest associated with the current fiscal period are considered to be susceptible to accrual
and so have been recognized as revenues of the current fiscal period. Entitlements are recorded as revenues
when all eligibility requirements are met, including any time requirements, and the amount is received during
the period or within the availability period for this revenue source (within 60 days of year end).
Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred
and all other eligibility requirements have been met, and the amount is received during the period or within
the availability period for this revenue source (within 60 days of year end). All other revenue items are
considered to be measurable and available only when cash is received by the government.
7. Budgets. Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual
appropriated budgets are adopted for the General, Special Revenue, Debt Service, and Capital Projects Funds.
All annual appropriations lapse at fiscal year-end. The District did not amend their budget in 2020.
Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance
accounting (under which purchase orders, contracts, and other commitments for the expenditures of resources
are recorded to reserve that portion of the applicable appropriation) is utilized in the governmental funds.
Encumbrances outstanding at year-end are reported as assigned fund balance to indicate an obligation to the
District.
The District budgets transfers from the General Fund to other funds to cover the costs incurred by these funds
in excess of the revenues generated. Certain indirect costs are charged to several Special Revenue Funds
through budgeted transfers from the Special Revenue Funds to the General Fund.
8. Cash and Investments. Cash includes amounts in demand as well as short-term investments with a maturity
date within three months of the date acquired by the District. The District pools cash of all funds into common
bank accounts. The accounting records of each fund reflect its interest in the pooled cash. Any deficiencies in
cash of individual funds represent liabilities to other funds for cash borrowed. Under state law, the District
may deposit funds in demand deposits, interest-bearing demand deposits, or time deposits with state banks or
credit unions organized under Idaho Law, and national banks or credit unions located in Idaho.
20
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
State statutes authorize the District to invest in obligations of the U.S. Treasury, commercial paper, corporate
bonds, and repurchase agreements. The District has elected to deposit cash in excess of immediate needs into
the Local Government Investment Pool (LGIP). The LGIP is managed by the State of Idaho Treasurer’s
office. The funds of the pool are invested in certificates of deposit, repurchase agreements, commercial paper,
corporate debt instruments, and U.S. government securities. The certificates of deposit are federally insured.
The LGIP is recorded at amortized costs due to the LGIP’s tight restrictions on the types of investments that
can be held in the fund to limit the District’s exposure to losses from credit risk, market, and liquidity risk. An
annual audit of LGIP is conducted by the State Legislative Auditors Office. The Legislative Auditor of the
State of Idaho has full access to the records of the Pool. All other cash is deposited with local banks in
checking or savings accounts.
For deposits and investments, custodial credit risk is the risk that, in the event of the failure of the
counterparty, the District will not be able to recover the value of its deposits, investments, or collateral
securities that are in the possession of an outside party. The District does not have a policy for custodial credit
risk outside of the deposit and investment agreements. The District is authorized to invest in the State of
Idaho Local Government Investment Pool. This pooling is intended to improve administrative efficiency and
increase investment yield.
Credit risk is the risk that an issuer of debt securities or another counterparty to an investment will not fulfill
its obligation and is commonly expressed in terms of the credit quality rating issued by nationally recognized
statistical rating organization such as Moody’s, Standard & Poor’s, and Fitch’s. The investments of the
District are not rated and the District’s policy does not restrict them to rated investments.
9. Short-term Interfund Receivables / Payables. During the course of operations, numerous transactions occur
between individual funds and the General Fund for goods provided or services rendered. These receivables
and payables are classified as ‘due from other funds’ or ‘due to other funds’ on the balance sheet.
10. Inventories. Supplies inventory consists of paper, food, new textbooks, and other supplies and equipment
received at the end of the fiscal year, which had not yet been consumed. The cost is recorded as an
expenditure at the time the item is consumed. Inventories are stated at cost on a first-in, first-out basis, which
approximates market. Other supplies inventory on hand at year-end has not been recorded as inventory and
was treated as expended when purchased.
11. Capital Assets. Capital assets, including land, buildings, improvements, and equipment assets are reported in
the applicable governmental columns in the government-wide financial statements. Capital assets are defined
by the District as assets with an initial, individual cost of more than $10,000 and an initial useful life of one
year or greater. Such assets are recorded at historical cost if purchased or constructed. Donated capital assets
are recorded at estimated fair value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the
life of the asset are not capitalized. Buildings, improvements, and equipment assets are depreciated using the
straight-line depreciation method over the following estimated useful lives:
Assets Years
Buildings 30
Equipment 3-15
Vehicles 3-8
21
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
12. Compensated Absences. Employees are entitled to certain compensated absences based on their length of
employment. The entire compensated absences owed are reported in the government-wide financial
statement.
13. Other Post-Employment Benefits. PERSI employees who retire and have not yet become eligible for Federal
Medicare coverage are eligible to purchase insurance through the District’s healthcare plan. Although retirees
pay their own premium, there is an implicit cost due to increased group premiums when retirees are included
in District insurance plans. For the purpose of measuring the net other post-employment benefit liability,
deferred outflows of resources and deferred inflows of resources related to other post-employment benefits,
and other post-employment benefit expenses, information about fiduciary net position of the implicit medical
benefit Plan and additions to/deductions from the Plan’s fiduciary net position have been determined on the
same basis as they are reported by the Plan. Benefit payments are recognized when due and payable in
accordance with the benefit terms.
For purposes of measuring the net OPEB asset, deferred outflows of resources, and deferred inflows of
resources related to OPEB, and OPEB expense; (expense offset), information about the fiduciary net position
of the Pubic Employee Retirement System of Idaho (PERSI or System) Sick Leave Insurance Reserve fund
and additions to/deductions from Sick Leave Insurance Reserve Fund’s fiduciary net position have been
determined on the basis as they are reported by the Sick Leave Plan. For this purpose, benefit payments are
recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
14. Pensions. For purposes of measuring the net pension liability and pension expense, information about the
fiduciary net position of the Public Employee Retirement System of Idaho Base Plan (Base Plan) and
additions to/deductions from Base Plan’s fiduciary net position have been determined on the same basis as
they are reported by the Base Plan. For this purpose, benefit payments (including refunds of employee
contributions) are recognized when due and payable in accordance with the benefit terms. Investments are
reported at fair value.
15. Deferred Outflows / Inflows of Resources. In addition to assets, the Statement of Net position will sometimes
report a separate section for deferred outflows of resources. This separate financial statement element,
deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and
so will not be recognized as an outflow of resources (expense/expenditure) until then. The District has several
items that qualify for reporting in this category and they occur on the government-wide Statement of Net
Position. The first item is a deferred charge on refunding that results from the difference in the carrying value
of refunded debt and its reacquisition price and is amortized over the shorter of the life of the refunded or
refunding debt. The District also reports deferred outflows of resources related to pensions for its
proportionate shares of collective deferred outflows of resources related to pensions and District contributions
to pension plans subsequent to the measurement date of the collective net pension liability. The last two
deferred outflows result from changes of assumptions or other inputs on the OPEB obligations and PERSI SL
asset.
In addition to liabilities, the Statement of Net Position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element, deferred inflows of resources, represents an
acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of
resources (revenue) until that time.
22
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
The District has several types of items, one of which arises under a modified accrual basis of accounting, and
others that arise in the government wide financial statements, that qualify for reporting in this category.
Accordingly, unavailable revenue, is reported only in the governmental funds balance sheet.
The governmental funds report unavailable revenues from property taxes. These amounts are deferred and
recognized as an inflow of resources in the period that the amounts become available. The District also
reports deferred inflows of resources for its proportionate share of the collective deferred inflows of resources
related to pensions and difference between expected and actual experience – OPEB and PERSI SL on the
government wide financial statements.
16. Long-term Obligations. Long-term debt is recognized as a liability of a governmental fund when due. For
other long-term obligations, only that portion expected to be financed from expendable, available, financial
resources is reported as a fund liability of a governmental fund.
17. Net Position Flow Assumption. Sometimes the District will fund outlays for a particular purpose from both
restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts
to report as restricted net position and unrestricted net position in the government-wide financial statements, a
flow assumption must be made about the order in which the resources are considered to be applied. It is the
government’s policy to consider restricted net position to have been depleted before unrestricted net position
is applied.
18. Fund Balance Flow Assumptions. Sometimes the District will fund outlays for a particular purpose from both
restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balances). In
order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the
governmental fund financial statements a flow assumption must be made about the order in which the
resources are considered to be applied. It is the District’s policy to consider restricted fund balance to have
been depleted before using any of the components of unrestricted fund balance. Further, when the components
of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first,
followed by assigned fund balance. Unassigned fund balance is applied last.
19. Fund Balance. In the fund financial statements, governmental funds report aggregate amounts for five
classifications of fund balances based on the constraints imposed on the use of these resources. The
nonspendable fund balance classification includes amounts that cannot be spent because they are either (a) not
in spendable form – prepaid items or inventories or (b) legally or contractually required to be maintained
intact.
The spendable portion of the fund balance comprises the remaining four classifications: restricted, committed,
assigned, and unassigned.
Restricted fund balance: This classification reflects the constraints imposed on resources either (a) externally
by creditors, grantors, contributions, or laws or regulations of other governments or (b) imposed by law
through constitutional provisions or enabling legislation.
Committed fund balance: These amounts can used only be for the specific purposes determined by a formal
action of the District’s highest level of decision-making authority. The School Board is the highest level of
decision-making authority for the District that can, by board action prior to the end of the fiscal year, commit
fund balance. Once adopted, the limitation imposed by the board resolution remains in place until a similar
action is taken (the adoption of another resolution) to remove or revise the limitation. This classification also
includes contractual obligations to the extent that existing resources in the fund have been specifically
committed for use in satisfying those contractual requirements.
23
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
Assigned fund balance: This classification reflects the amounts constrained by the District’s “intent” to be
used for specific purposes but do not meet the criteria to be classified as restricted or committed. The School
Board has by resolution authorized management to assign fund balance. The board may also assign fund
balance as it does when appropriating fund balance to cover a gap between estimated revenue and
appropriation in the subsequent year’s appropriated budget. Assigned fund balances include all remaining
amounts (except negative balances) that are reported in governmental funds, other than the General Fund, that
are not classified as nonspendable and are neither restricted nor committed.
Unassigned fund balance: This fund balance is the residual classification for the General Fund. It is also used
to report negative fund balances in other governmental funds.
20. Risk Management. The District is exposed to a considerable number of risks of loss, including: (a) damage to
and loss of property and contents; (b) employee torts; (c) professional liability, i.e. errors and omissions; (d)
environmental damage; (e) workers’ compensation, i.e. employee injuries; and (f) medical insurance costs of
employees. Commercial policies, transferring the risks of loss, except for relatively small deductible amounts,
are purchased for property and content damage, employee torts, and professional liabilities. Settled claims
resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal
years.
21. Estimates. The preparation of financial statements in conformity with generally accepted accounting
principles requires the District to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenditures during the reporting period. Actual results could differ from
those estimates.
NOTE B CASH AND INVESTMENTS
At June 30, 2020, the carrying amount of District cash was $14,389,698 and the bank balance of the District’s
deposits was as follows:
Bank Balance
Insured by Federal Depository Insurance 500,000
Insured by National Credit Union Share Insurance 250,000
Uninsured and uncollateralized 15,910,849
Totals 16,660,849
At June 30, 2020, the cost and fair market value of the District’s investments were as follows:
Fair Market Average
Deposit and investment type Cost Value Maturity
Local Government Investment Pool -NAV 34,094,455 34,549,613 177 Days
Total investments 34,094,455 34,549,613
Interest rate risk -The District manages its exposure to declines in fair values by limiting the weighted average
maturity of its investment portfolio.
Credit risk -The District’s deposits and investments at year end are limited to the Local Government Investment
Pool, bank deposits, and certificates of deposits with various banks located in Idaho. The District has reduced its
concentration of credit risk by using several financial institutions.
24
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE B CASH AND INVESTMENTS, continued
Custodial credit risk -In the case of deposits, this is the risk that in the event of a bank failure, the District’s
deposits may not be returned to it. The District does not have a deposit policy for custodial credit risk. As of June
30, 2020, $15,910,849 of the District’s deposits and certificates of deposit were exposed to custodial credit risk
because it was uninsured and uncollateralized. Of the investments, $34,094,455 was held in the Local
Government Investment Pool which is not insured or guaranteed by the FDIC.
The District has elected to invest in the LGIP through the Idaho State Treasurer. The Idaho State Treasurer
provides oversight for investments by or through any department or institute of the State of Idaho. Amounts held
by the LGIP were held in the following investments: government agency notes, commercial paper, corporate
bonds, money markets, U.S. treasury notes, Idaho repurchase agreements, and purchased accrued interest. All
investments for the LGIP are collateralized with securities held by the LGIP’s safekeeping agent in the LGIP’s
name. The investments held by the LGIP are carried at cost, which is not materially different than fair value
(determined by the Idaho State Treasurer’s office). These investments are subject to risk from market and interest
rate fluctuations.
Information necessary to determine the level of collateralization for the Local Government Investment Pool was
unavailable. The Local Government Investment Pool is audited annually and the related financial statements and
note disclosures are included in the State of Idaho’s Comprehensive Annual Financial Report, a copy of which
can be downloaded from www.sco.idaho.gov.
NOTE C INTERFUND RECEIVABLES AND PAYABLES
During the course of its operations, the District had numerous transactions between funds to finance operations,
provide services, construct assets, and service debt. To the extent that certain transactions between funds had not
been paid or received as of June 30, 2020, balances of interfund amounts receivable or payable have been
recorded. The interfund balances at June 30, 2020, were as follows:
Receivable Payable
General Fund 1,511,690
Construction 2018 5,176
Nonmajor Funds 1,506,514
Total 1,511,690 1,511,690
The General Fund transferred $85,055 to Child Nutrition and $442,111 to Plant Facilities as required by State
law. The federal programs transferred $66,000 to the General Fund as budgeted for payment of indirect costs.
NOTE D PROPERTY TAXES
In accordance with Idaho State Law, ad valorem property tax is levied in dollars in September for each calendar
year. Taxes are recorded by the District using the modified accrual basis of accounting. Levies are made on the
second Monday of September. All of the personal property tax and one-half of the real property tax are due on or
before the 20th of December. The remaining one-half of the real property tax is due on or before June 20 the
following year. Property taxes attach as an enforceable lien on property as of January 1 the following year.
Notice of foreclosure is filed with the County Clerk on property three years from the date of delinquency. The
property tax revenue is budgeted for the ensuing fiscal year.
Bonneville and Bingham Counties act as agents for the District in both the assessment and collection areas. The
County remits tax revenues to the District periodically, with the majority of the collections being remitted in
January and July.
25
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE E CAPITAL ASSETS
Following is a summary of the capital assets at June 30, 2020:
Capital assets, not being depreciated
Elementary
Secondary
Construction in progress
Balance at
June 30, 2019
3,039,416
3,026,265
4,577,354
Additions
14,926,477
Deletions
(5,000)
Transfers
Balance at
June 30, 2020
3,039,416
3,021,265
19,503,831
Total capital assets, not being depreciated 10,643,035 14,926,477 (5,000) 0 25,564,512
Capital assets, being depreciated
Buildings
Elementary
Secondary
Administration
Total buildings
72,153,202
107,775,066
4,682,973
184,611,241
78,348
445,468
78,557
602,373
(138,190)
(138,190) 0
72,093,360
108,220,534
4,761,530
185,075,424
Equipment
Elementary
Secondary
Administration
Total equipment
1,004,661
1,822,530
2,322,513
5,149,704
14,015
115,857
60,562
190,434 0
1,018,676
1,938,387
2,383,075
5,340,138
Vehicles 8,684,170 438,302 (69,999) 0 9,052,473
Total capital assets, being depreciated 198,445,115 1,231,109 (208,189) 0 199,468,035
Less accumulated depreciation for:
Buildings
Equipment
Vehicles
(69,001,292)
(3,297,618)
(6,579,432)
(5,483,589)
(378,138)
(477,029)
66,371
69,999
(74,418,510)
(3,675,756)
(6,986,462)
Total accumulated depreciation (78,878,342) (6,338,756) 136,370 0 (85,080,728)
Total capital assets being depreciated, net 119,566,773 (5,107,647) (71,819) 0 114,387,307
Governmental activities capital assets, net 130,209,808 9,818,830 (76,819) 0 139,951,819
Depreciation expense was charged to the functions of the primary government as follows:
Governmental activities
Instruction 5,510,248
Operations 351,479
Transportation 477,029
Total depreciation expense – governmental activities 6,338,756
26
00 3,55,0005
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE F CONSTRUCTION COMMITMENTS
During the year ended June 30, 2020, the District contracted with various contractors to do certain projects,
revisions, and additions. The following construction contracts were in progress at June 30, 2020:
Expenditures Remaining
Original bid Average Recorded Construction
Project plus changes % complete Currently obligation
Middle School – New Construction 29,472,849 66.1% 19,503,831 9,969,018
Total 29,472,849 19,503,831 9,969,018
NOTE G GENERAL OBLIGATION BOND ISSUES
The District had five general obligation bond issues (2012A, 2012C, 2016A, 2016B and 2018 Series) outstanding
at the end of the year with interest rates ranging from 2.0 to 5.0 percent. The 2012A and 2012C bonds are
scheduled to mature September 2031 and September 2026, respectively. The 2016A and 2016B bonds are
scheduled to mature September 2033 and September 2028, respectively. The 2018 bonds are scheduled to mature
September 2035.
Future debt service requirements are as follows:
Fiscal Year Ended June 30, Total Interest Principal
2021 9,019,300 5,374,300 3,645,000
2022 9,111,324 5,251,324 3,860,000
2023 9,171,624 5,091,624 4,080,000
2024 9,772,624 4,872,624 4,900,000
2025 10,503,000 4,608,000 5,895,000
2026-2030 60,993,514 17,748,514 43,245,000
2031-2035 53,294,300 6,059,300 47,235,000
2036 4,243,500 103,500 4,140,000
Total 166,109,186 49,109,186 117,000,000
Changes to bond principal payable and future interest payable are summarized as follows:
2012A 2012C 2016A 2016B 2018 Combined
Principal Series Series Series Series Series Total
Balances at July 1, 2019 11,780,000 9,090,000 49,950,000 20,775,000 30,555,000 122,150,000
Reductions 975,000 785,000 1,740,000 1,650,000 5,150,000
Balances at June 30, 2020 11,780,000 8,115,000 49,165,000 19,035,000 28,905,000 117,000,000
Interest
Balances at July 1, 2019 6,480,650 1,836,075 23,099,075 4,953,650 18,255,937 54,625,387
Reductions 587,600 393,450 2,245,775 855,900 1,433,476 5,516,201
Balances at June 30, 2020 5,893,050 1,442,625 20,853,300 4,097,750 16,822,461 49,109,186
NOTE H LEGAL DEBT MARGIN
The District is subject to a statutory limitation by the Idaho Code for bonded indebtedness payable principally
from property taxes. The limit of bonded indebtedness is 5% of property market value for assessment purposes
less the aggregate outstanding debt. At June 30, 2020, the limit for the District was 5% of $5,257,709,998 or
$262,885,500. The Debt Service Fund had $12,196,129 available and the general obligation debt was
$117,000,000 leaving a legal debt margin of $158,081,629.
27
Month
June 30,
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE I CHANGES IN LONG-TERM LIABILITIES
Following is a summary of the changes in long-term debt for the year ended June 30, 2020:
Current
Balance Balance Portion
July 1, 2019 Additions Deductions June 30,2020 Balance
Bonds payable 122,150,000 5,150,000 117,000,000 3,645,000
Premium on bonds 16,734,111 1,824,226 14,909,885 1,764,508
Total bonds/premium 138,884,111 6,974,226 131,909,885 5,409,508
OPEB 4,556,903 778,564 3,778,339
Employee benefits 222,497 45,178 267,675 267,675
Total 143,663,511 45,178 7,752,790 135,955,899 5,677,183
Payment on the general obligation bonds are made by the Debt Service Fund from property taxes and state bond
levy equalization funds. Employee benefits will be paid by the fund in which the employee is paid from.
NOTE J LEASE OBLIGATIONS
The District was obligated for the following leases categorized as operating leases subject to non-appropriation:
Description of Date of Term of Future Monthly Minimum
Lessor Leased Property Inception Lease Lease Amount Lease Payments
Great American Copier 12/2016 48 99 594
Great American Copiers 3/2018 60 389 12,837
Great American Copiers 5/2018 5 years 8,634/yr 25,183
Great American Copiers 7/2018 5 years 9,849/yr 30,368
Great American Copiers 8/2018 60 960.40 36,495
CIT Copier 2/2019 60 165 7,260
CIT Copier 2/2019 60 68.77 3,026
Great American Copier 4/2019 60 99 4,554
Great American Copier 4/2019 60 119 5,474
Xerox Copier 10/2018 60 120 4,800
CIT Copier 8/2019 48 75 2,850
CIT Copier 8/2019 48 107 4,066
CIT Copier 8/2019 60 175 8,750
Total minimum lease payments 146,257
Total rental expense under the equipment and other operating leases for the year ended June 30, 2020, was
$46,295. Minimum future lease payments under these operating leases as of June 30, 2020, for the succeeding
years are:
Fiscal Year Ended Total
2021 46,415
2022 45,821
2023 43,935
2024 9,736
2025 350
Total 146,257
28
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE K NON-MONETARY TRANSACTIONS
The District received $345,817 USDA Commodities during the 2019-2020 fiscal year. The commodities received
are valued at the average wholesale price as determined by the distributing agency. All commodities received by
the District were treated as revenue and expense of the fund receiving the commodities.
NOTE L PAYROLL EXPENDITURES AND RELATED LIABILITIES
Teacher contracts were signed for the period September 2019 through June 2020, to be paid over the twelve
months of September 2019 through August 2020. The financial statements reflect the salary expense for this
period. The accrued payroll reflects the final two months of these contracts.
NOTE M OTHER POST-EMPLOYMENT BENEFITS (OPEB)
Plan Description. Bonneville Joint School District #93’s Employee Group Benefits Plan is a single-employer
defined benefit healthcare plan administered by Blue Cross of Idaho. Blue Cross provides medical and
prescription drug insurance benefits to eligible retirees and their eligible dependents. Blue Cross Dental and
Willamette Dental provide dental insurance benefits to eligible retirees and their eligible dependents. As of June
30, 2020, there were 1,035 active participants and 46 inactive participants.
A retiree who retires with the Public Employee Retirement System of Idaho (PERSI) is eligible to keep the
District’s health insurance as a retiree until age 65, or until the retiree is eligible for coverage under Medicare.
Retirement eligibility is determined based on a minimum of reaching age 55 with at least 5 years of membership
with a PERSI employer. The retiree is on the same medical plan as the District’s active employees.
Funding Policy. The contribution requirement of plan members is established by the District’s insurance
committee in conjunction with our insurance provider. The required contribution is based on projected pay-as-
you-go financing requirements. For fiscal year 2020, the District contributed approximately $246,776 of the
annual required contribution of $737,240. Retirees are required to pay 100% of the premiums for both the retiree
and the dependent coverage.
Net Other Post-employment benefit Liability. The Net other post-employment benefit liability (NOL) was
measured as of June 30, 2020, and the total other post-employment benefit liability was determined by an
actuarial valuation as of June 30, 2020.
Actuarial Methods and Assumptions. The District does not pre-fund benefits. The current funding policy is to pay
benefits directly from general assets on a pay-as-you-basis and there is not a trust for accumulating plan assets.
The following actuarial methods and assumptions were used in the June 30, 2020 accounting valuation:
Valuation Timing Actuarial valuations are performed biennially as of July 1 for accounting
purposes only. The most recent valuation was performed as of June 30, 2020.
Actuarial Cost Method Entry Age Normal
Inflation 3.50%
Salary Increases 3.75%
Discount Rate 2.53%
29
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE M OTHER POST-EMPLOYMENT BENEFITS (OPEB)
Health Cost Trend Rates Medical with vision trend is 7.4% from year ending June 30, 2020 then
gradually decreasing to an ultimate rate of 3.8% for 2077 and beyond.
Dental trend is 0.0% from year ending June 30, 2020, increasing to 2.9% in
2021, then gradually lowering to 2.0% for 2024 and beyond, as shown in the
June 30, 2020, valuation report.
Retirement Based on PERSI with 19% of males and 10% of females eligible at age 55,
30% of males and 26% of females first year eligible at age 60 and 36% of
males and 49% of females eligible at age 65.
Turnover 40% of future retirees are assumed to elect medical coverage and 70% of the
future retirees who elect medical coverage and are married are assumed to
elect spousal coverage as well.
Mortality Mortality is assumed to follow the RP2000 Healthy Combined Mortality
Table adjusted with generational mortality adjustments using Scale AA, set
back three years for both males and females.
Retiree Premiums The retiree contributions are a weighted average of all retiree contributions
for the period July 1, 2019, to June 30, 2020. The cost of Medical and
Prescription was $9,155 for a retiree or surviving spouse, and $5,997 for a
surviving spouse. For Dental it was $482 for a retiree or surviving spouse,
and $481 for a spouse. For Vision it was $97 for a retiree or surviving
spouse, and $56 for a spouse.
Total OPEB Liability June 30, 2020
Total OPEB liability 3,778,339
Covered employee payroll 43,470,000
Total OPEB liability as a % of covered employee payroll 8.69%
The total OPEB liability was determined by an actuarial valuation as of the valuation date, calculated based on the
discount rate and actuarial assumptions below, and was then projected forward to the measurement date. There
have been no significant changes between the valuation date and the fiscal year end. Any significant changes
during this period must be reflected as prescribed by GASB 75.
Discount Rate
Discount Rate* 2.53%
*The discount rate was based on the average of multiple 6/30/20 municipal bond rate sources.
Changes since Prior Valuation
The interest/discount rate based on the average of multiple 6/30/2020 municipal bond rate sources
Decrements reflected October 2019 Annual Report assumptions for PERSI
Participation rate assumption adjusted to 40%.
Revised Aging Factors based on 2014 Society of Actuaries study
30
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE M OTHER POST-EMPLOYMENT BENEFITS (OPEB), continued
Changes in Total OPEB Liability
Increase (Decrease)
Changes in total OPEB liability Total OPEB Liability
Balance as of June 30, 2019 4,556,903
Changes for the year:
Service cost 513,403
Interest on total OPEB liability 168,399
Differences in experience (512,762)
Changes of assumptions or other inputs (700,828)
Benefit payments (246,776)
Balance as of June 30, 2020 3,778,339
Sensitivity Analysis
The following presents the total OPEB liability of the school district, calculated using the discount rate of 2.53%,
as well as what the school district’s total OPEB liability would be if it were calculated using a discount rate that is
1 percentage point lower (1.53%) or 1 percentage point higher (3.53%) than the current rate.
1% Decrease Discount Rate 1% Increase
1.53% 2.53% 3.53%
Total June 30, 2020, OPEB liability 4,015,695 3,778,339 3,547,774
The following presents the total OPEB liability of the school district, calculated using the current healthcare cost
trend rates as well as what the school district’s total OPEB liability would be if it were calculated using trend rates
that are 1 percentage point lower or 1 percentage point higher than the current trend rates.
Current
1% Decrease Trend Rate 1% Increase
Total June 30, 2020, OPEB liability 3,383,248 3,778,339 4,241,950
July 1, 2019
to
OPEB Expense June 30, 2020
Service cost 513,403
Interest on total OPEB liability 168,399
Recognition of Deferred Inflows/Outflows of Resources
Difference between expected and actual experience (19,418)
Recognition of assumption changes or inputs 21,336
Benefit payments (47,249)
OPEB expense 636,471
31
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE M OTHER POSTEMPLOYMENT BENEFITS (OPEB), continued
Other Post-Employment Benefits Expense and Deferred Outflows of Resources and Deferred Inflows for
Resources Related to Other Post-employment Benefits
Schedule of Deferred Inflow/Outflows of Resources
Original
Amount
Date
Established
Original
Recognition
Period
Amount
Recognized
Deferred
Inflow of
Resources
Deferred
Outflow of
Resources
Differences between expected and actual
experience/changes in assumptions (115,858) June 30, 2018 15.36 (7,542) (259,465) 158,691
Changes of assumptions or other inputs 137,467 June 30, 2019 14.53 9,460 128,007
Differences between expected and actual
experience/changes in assumptions (1,213,590) June 30, 2020 15.34 (1,213,590)
Total (1,191,981) 1,918 (1,473,055) 286,698
Amounts currently reported as deferred outflows of resources and deferred inflows of resources related to other
post-employment benefits will be recognized in OPEB expense as follows:
Year Ending June 30:
2021 (77,175)
2022 (77,175)
2023 (77,175)
2024 (77,175)
2025 (77,175)
Thereafter (800,482)
*Note that additional future deferred inflows and outflows of resources may impact these numbers.
NOTE N PERSI SICK LEAVE INSURANCE RESERVE FUND
The District contributes to the Sick Leave Insurance Reserve Fund (Sick Leave Plan) which is a cost-sharing
multiple-employer defined benefit OPEB plan that covers members receiving retirement benefits that are
administered by PERSI that covers substantially all employees of the State of Idaho, its agencies and various
participating political subdivisions. The cost to administer the plan is financed through the contributions and
investment earnings of the plan. PERSI issues a publicly available financial report that includes financial
statements and the required supplementary information for the Sick Leave Plan. That report may be obtained on
the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Sick Leave Plan is assigned to the Board comprised of five members
appointed by the Governor and confirmed by the Idaho Senate. State law requires that two members of the Board
be active Base Plan members with at least ten years of service and three members who are Idaho citizens not
members of the Base Plan except by reason of having served on the Board.
OPEB Benefits
Group retiree health, dental, accident, and life insurance premiums may qualify as a benefit. Retirees who have a
sick leave account can use their balance as a credit towards these premiums paid directly to the applicable
insurance company.
32
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE N PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
Employer Contributions
The contribution rate for employers are set by statute at .065% of covered compensation for state members.
Covered school members contribution rates are set by statute based on the number of sick days offered by the
employer. The contribution rate of 1.16% for school members with nine or ten sick days, 1.26% for school
members with 11-14 sick days. If a school member has more than 14 days of sick leave, then the contribution rate
will be set by the PERSI Retirement Board based on current cost and actuarial data and reviewed annually. PERSI
did not require any District contributions after December of 2019. The District contributions were $316,207 for
the year ended June 30, 2020 as contributions were suspended on January 1, 2020.
OPEB Liabilities, OPEB Expense (Expense Offset), and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to OPEB
At June 30, 2020, the District reported an asset for its proportionate share of the net OPEB asset. The net OPEB
asset was measured as of June 30, 2019, and the total OPEB liability used to calculate the net OPEB asset was
determined by an actuarial valuation as of that date. The District’s proportion of the net OPEB asset was based on
the District’s share of contributions relative to the total contributions of all participating Sick Leave employers. At
June 30, 2019, the District’s proportion was 3.6101186 percent.
For the year ended June 30, 2019, the District recognized OPEB expense offset of $529,995. The $316,207
reported as deferred outflows of resources related to OPEBs resulting from Employer contributions subsequent to
the measurement date will be recognized as an increase of the net OPEB asset in the year ending June 30, 2020.
At June 30, 2020, the District reported deferred outflows of resources and deferred inflows of resources related to
PERSI OPEB sick leave from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual experience
Changes in assumptions or other inputs
Net difference between projected and actual earnings on OPEB plan investments
Changes in the employer’s proportion and differences between the employer’s
contribution and the employer’s proportionate contributions
District contributions subsequent to the measurement date
Total
366,078
12,804
316,207
695,089
199,855
-
199,855
Actuarial Assumptions
Valuations are based on actuarial assumptions, the benefit formulas, and employee groups. The Sick Leave Plan
amortizes any net OPEB asset based on a level percentage of payroll. The maximum amortization period for the
Sick Leave Plan permitted under Section 59-1322, Idaho Code, is 25 years. The total OPEB liability in the June
30, 2019 actuarial valuation was determined using the following actuarial assumptions, applied to all periods
included in the measurement:
Inflation 3.25%
Salary increases 3.75%
Salary inflation 3.75%
Investment rate of return 7.05%
33
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE N PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
The long-term expected rate of return on OPEB plan investments was determined using the building block
approach and a forward-looking model in which best estimate ranges of expected future real rates of return
(expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighing the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation. The health care trend
rate is not applicable as the benefit amount a participant will receive is established with a set amount upon
retirement thus would have no impact.
Even though history provides a valuable perspective for setting the investment return assumption, the System
relies primarily on an approach which builds upon the latest capital market assumptions. Specifically, the System
uses consultants, investment managers and trustees to develop capital market assumptions in analyzing the
System’s asset allocation. The assumptions and the System’s formal policy for asset allocation are shown below.
The formal asset allocation policy is somewhat more conservative than the current allocation of System’s assets.
The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to
expected long-term real returns and reflecting expected volatility and correlation.
Capital Market Assumptions
Long-Term
Expected
Nominal Rate
Long-Term
Expected
Real Rate of
Asset Class
Target
Allocation
of Return
(Arithmetic)
Return
(Arithmetic)
Core Fixed Income Barclays Aggregate 30.00% 3.05% 0.80%
Broad U.S. Equity Wilshire 5000 / Russell 3000 55,00% 8.30% 6.05%
Developed Foreign Equities MSCI EAFE/World ex US 15.00% 8.45% 6.20%
Assumed Inflation – Mean 2.25% 2.25%
Assumed Inflation – Standard Deviation 1.50% 1.50%
Portfolio Arithmetic Mean Return 6.75% 4.5%
Portfolio Standard Deviation 12.54% 12.54%
Portfolio Long-Term (Geometric) Expected Rate of Return 6.13% 3.77%
Assumed Investment Expenses 0.40% 0.40%
Portfolio Long-term (Geometric) Expected Rate of Return, Net of Investment 5.73% 3.37%
Expenses
Portfolio Long-term Expected Real Rate of Return, Net of Investment Expenses 4.19%
Portfolio Standard Deviation 14.16%
Valuation Assumptions Chosen by PERSI Board
Long-term Expected Real Rate of Return, Net of Investment Expenses 4.05%
Assumed Inflation 3.00%
Long-Term Expected Nominal Rate of Return, Net of Investment Expenses 7.05%
34
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE N PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
Discount Rate
The discount rate used to measure the total OPEB liability was 7.05%. The projection of cash flows used to
determine the discount rate assumed that contributions from plan members will be made at the current
contribution rate. Based on these assumptions, the OPEB plan’s net position was projected to be available to make
all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on
OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB
liability. The long-term expected rate of return was determined net of OPEB plan investment expense but without
reduction for OPEB plan administrative expense.
Sensitivity of the net OPEB asset to changes in the discount rate.
The following presents the Employer's proportionate share of the net OPEB asset calculated using the discount
rate of 7.05 percent, as well as what the Employer's proportionate share of the net OPEB asset would be if it were
calculated using a discount rate that is 1-percentage-point lower (6.05 percent) or 1-percentage-point higher (8.05
percent) than the current rate:
Employer’s proportionate share of the net OPEB liability (asset)
1%
Decrease
(6.05%)
(4,395,250)
Current
Discount
Rate
(7.05%)
(3,457,786)
1%
Increase
(8.05%)
(4,690,349)
OPEB plan fiduciary net position
Detailed information about the OPEB plan's fiduciary net position is available in the separately issued PERSI
financial report. PERSI issues a publicly available financial report that includes financial statements and the
required supplementary information for PERSI. That report may be obtained on the PERSI website at
www.persi.idaho.gov.
Payables to the OPEB plan
At June 30, 2020, the District reported no payables to the defined benefit OPEB plan for legally required
employer contributions and for legally required employee contributions which had been withheld from employee
wages but not yet remitted to PERSI.
NOTE O POST RETIREMENT BENEFITS
The District funds post-retirement benefits on a current basis through PERSI. The District paid 1.16% of the
wages covered by PERSI to the State until January of 2020 for the 2019-2020 school year. At January 1, 2020, the
required contribution rate went to 0.0% for the remainder of the school year and is anticipated to remain at 0% for
the 2021 fiscal year. At the time of retirement, a sum equal to one-half of the monetary value of unused sick leave,
calculated at the rate of pay at that time, is transferred from the sick leave account to the employee’s retirement
account. This money shall then be used to pay premiums for health, accident, dental, and life insurance.
35
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE P PENSION PLAN
Plan Description
The District contributes to the Base Plan which is a cost sharing multiple-employer defined benefit pension plan
administered by Public Employee Retirement System of Idaho (PERSI or System) that covers substantially all
employees of the State of Idaho, its agencies, and various participating political subdivisions. The cost to
administer the plan is financed through the contributions and investment earnings of the plan. PERSI issues a
publicly available financial report that includes financial statements and the required supplementary information
for PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Base Plan is assigned to the Board comprised of five members appointed
by the Governor and confirmed by the Idaho Senate. State law requires that two members of the Board be active
Base Plan members with at least ten years of service and three members who are Idaho citizens not members of
the Base Plan except by reason of having served on the Board.
Pension Benefits
The Base Plan provides retirement, disability, death, and survivor benefits for eligible members or beneficiaries.
Benefits are based on members’ years of service, age, and highest average salary. Members become fully vested
in their retirement benefits with five years of credited service (5 months for elected or appointed officials).
Members are eligible for retirement benefits upon attainment of the ages specified for their employment
classification. The annual service retirement allowance for each month of credited service is 2.0% (2.3% for
police/firefighters) of the average monthly salary for the highest consecutive 42 months.
The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature.
The Base Plan is required to provide a 1% minimum cost of living increase per year provided the Consumer Price
Index increases 1% or more. The PERSI Board has the authority to provide higher cost of living increases to a
maximum of the Consumer Price Index movement or 6%, whichever is less; however, any amount above the 1%
minimum is subject to review by the Idaho Legislature.
Member and Employer Contributions
Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of
covered compensation and earnings from investments. Contribution rates are determined by the PERSI Board
within limitations, as defined by state law. The Board may make periodic changes to employer and employee
contribution rates (expressed as percentages of annual covered payroll) if current rates are actuarially determined
to be inadequate or in excess to accumulate sufficient assets to pay benefits when due.
The contribution rates for employees are set by statute at 60% of the employer rate. As of June 30, 2019, it was
6.79% for general employees and 8.36% for police and firefighters. The employer contribution rate is set by the
Retirement Board and was 11.32% for general employees and 11.66 % for police and firefighters. The District’s
employee rate increased to 7.14% and the employer rate increased to 11.94% for the year ended June 30, 2020.
The District’s contributions were $6,478,608 for the year ended June 30, 2020.
36
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE P PENSION PLAN, continued
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
At June 30, 2020, the District reported a liability for its proportionate share of the net pension liability. The net
pension liability was measured as of June 30, 2019, and the total pension liability used to calculate the net pension
liability was determined by an actuarial valuation as of that date. The District proportion of the net pension
liability was based on the District’s share of contributions in the Base Plan pension plan relative to the total
contributions of all participating PERSI Base Plan employers. At June 30, 2019, the District’s proportion was
1.5093067 percent.
For the year ended June 30, 2020, the District recognized pension expense of $5,714,637. At June 30, 2020, the
District reported deferred outflows of resources and deferred inflows of resources related to pensions from the
following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual experience 1,601,107 2,030,443
Changes in assumptions or other inputs 958,337
Net difference between projected and actual earnings on pension plan investments 5,869,187
Changes in the employer’s proportion and differences between the employer’s
contribution and the employer’s proportionate contributions 27,484 -
District contributions subsequent to the measurement date 6,478,608
Total 9,065,536 7,899,630
$6,478,608 reported as deferred outflows of resources related to pensions resulting from employer contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year
ending June 30, 2021.
The average of the expected remaining service lives of all employees that are provided with pensions through the
System (active and inactive employees) determined at July 1, 2018, the beginning of the measurement period
ended June 30, 2019, is 4.8 years and 4.8 years for the measurement period ended June 30, 2019.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized in pension expense (revenue) as follows:
Year ended June 30:
2020 (714,633)
2021 (2,730,178)
2022 (1,324,255)
2023 (543,636)
Actuarial Assumptions
Valuations are based on actuarial assumptions, the benefit formulas, and employee groups. Level percentages of
payroll normal costs are determined using the Entry Age Normal Cost Method. Under the Entry Age Normal Cost
Method, the actuarial present value of the projected benefits of each individual included in the actuarial valuation
is allocated as a level percentage of each year’s earnings of the individual between entry age and assumed exit
age. The Base Plan amortizes any unfunded actuarial accrued liability based on a level percentage of payroll. The
maximum amortization period for the Base Plan permitted under Section 59-1322, Idaho Code, is 25 years.
37
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE P PENSION PLAN, continued
The total pension liability in the June 30, 2019, actuarial valuation was determined using the following actuarial
assumptions, applied to all periods included in the measurement:
Inflation 3.00%
Salary increases 13.75%
Salary inflation 3.75%
Investment rate of return 7.05%, net investment expenses
Cost-of-living adjustments 1.00%
Mortality rates were based on the RP – 2000 combined table for healthy males or females as appropriate with the
following offsets:
Set back 3 years for teachers
No offset for male fire and police
Forward one year for female fire and police
Set back one year for all general employees and all beneficiaries
An experience study was performed for the period July 1, 2013, through June 30, 2017, which reviewed all
economic and demographic assumptions including mortality. The Total Pension Liability as of June 30, 2019 is
based on the results of an actuarial valuation date of July 1, 2019.
The long-term expected rate of return on pension plan investments was determined using the building block
approach and a forward-looking model in which best estimate rates or expected future real rates of return
(expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighing the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation.
Even though history provides a valuable perspective for setting the investment return assumption, the System
relies primarily on an approach which builds upon the latest capital market assumptions. Specifically, the System
uses consultants, investment managers and trustees to develop capital market assumptions in analyzing the
System’s asset allocation. The assumptions and the System’s formal policy for asset allocation are shown below.
The formal asset allocation policy is somewhat more conservative than the current allocation of System’s assets.
The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to
expected long-term real returns and reflecting expected volatility and correlation.
Capital Market Assumptions
Long-Term Long-Term
Expected Nominal Expected Real
Target Rate of Return Rate of Return
Asset Class Allocation (Arithmetic) (Arithmetic)
Core Fixed Income
Broad US Equities
Developed Foreign Equities
30.00%
55.00%
15.00%
3.05%
8.30%
8.45%
.8%
6.05%
6.20%
Assumed Inflation – Mean
Assumed inflation – Standard Deviation
2.25%
1.50%
2.25%
1.50%
Portfolio Arithmetic Mean Return
Portfolio Standard Deviation
6.75%
12.54%
4.50%
12.54%
38
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE P PENSION PLAN, continued
Long-Term
Expected
Nominal Rate
Long-Term
Expected
Real Rate of
Asset Class
Target
Allocation
of Return
(Arithmetic)
Return
(Arithmetic)
Core Fixed Income Barclays Aggregate 30.00% 3.05% 0.80%
Broad U.S. Equity Wilshire 5000 / Russell 3000 55,00% 8.30% 6.05%
Developed Foreign Equities MSCI EAFE/World ex US 15.00% 8.45% 6.20%
Assumed Inflation – Mean 2.25% 2.25%
Assumed Inflation – Standard Deviation 1.50% 1.50%
Portfolio Arithmetic Mean Return 6.75% 4.5%
Portfolio Standard Deviation 12.54% 12.54%
Portfolio Long-Term (Geometric) Expected Rate of Return 6.13% 3.77%
Assumed Investment Expenses 0.40% 0.40%
Portfolio Long-term (Geometric) Expected Rate of Return, Net of Investment 5.73% 3.37%
Expenses
Portfolio Long-term Expected Real Rate of Return, Net of Investment Expenses 4.19%
Portfolio Standard Deviation 14.16%
Valuation Assumptions Chosen by PERSI Board
Long-term Expected Real Rate of Return, Net of Investment Expenses 4.05%
Assumed Inflation 3.00%
Long-Term Expected Nominal Rate of Return, Net of Investment Expenses 7.05%
Discount Rate
The discount rate used to measure the total pension liability was 7.05%. The projection of cash flows used to
determine the discount rate assumed that contributions from plan members will be made at the current
contribution rate. Based on these assumptions, the pension plans’ net position was projected to be available to
make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of
return on pension plan investments was applied to all period of projected benefit payments to determine the total
pension liability. The long-term expected rate of return was determined net of pension plan investment expense
but without reduction for pension plan administrative expense.
Sensitivity of the employer’s proportionate share of the net pension liability to changes in the discount rate.
The following presents the employer’s proportionate share of the net pension liability calculated using the
discount rate of 7.05 percent, as well as what the employer’s proportionate share of the net pension liability would
be if it were calculated using a discount rate that is 1-percentage-point lower (6.05 percent) or 1-percentage-point
higher (8.05 percent) than the current rate:
Current
1% Discount 1%
Decrease Rate Increase
(6.05%) (7.05%) (8.05%)
Employer’s proportionate share of the net pension liability (asset) 52,036,152 17,228,315 (11,556,654)
39
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2020
NOTE P PENSION PLAN, continued
Pension plan fiduciary net position
Detailed information about the pension plan’s fiduciary net position is available in the separately issued PERSI
financial report.
PERSI issues a publicly available financial report that includes financial statements and the required
supplementary information for PERSI. That report may be obtained on the PERSI website at
www.persi.idaho.gov.
Payables to the pension plan
At June 30, 2020, the District reported no payables to the defined benefit pension plan for legally required
employer contributions and for legally required employee contributions which had been withheld from employee
wages but not yet remitted to PERSI.
NOTE Q COMMITMENTS AND CONTINGENCIES
The District is involved in claims arising from the ordinary course of operations. Among these matters, a suit has
been filed against Pocatello and Bonneville school districts, namely Zeyen v. ALL DISTRICTS AND CHARTER
SCHOOLS. The plaintiff asserts that fees charged by all public schools throughout the state of Idaho are
unconstitutional. The U.S District Court has not yet certified this matter as a class action and discovery has not yet
commenced. The estimated possible loss to the District for these claims is uncertain, as the likelihood of an
unfavorable outcome is unknown. No accrual has been reflected in the financial statements for these matters. In
the opinion of the District’s management, the ultimate disposition of these matters will not have a material
adverse effect on the District’s financial condition.
The District entered into an agreement in April for services related to large renovations at Ammon Elementary for
approximately $115,000. Construction on this project did not commence until after year end.
NOTE R SUBSEQUENT EVENTS
Management of the District evaluated subsequent events through October 21, 2020, which was the date the
financial statements were available to be issued. Due to continuing effects of the novel coronavirus (COVID-19)
pandemic, the District's budget for fiscal year 2021 has been negatively impacted. Additional costs have been
incurred for transitioning to new learning methodologies and adapting current facilities resulting in a negative
impact to the District. The District cannot reasonably estimate the future impact of the economic changes as a
result of the pandemic.
40
REQUIRED FINANCIAL INFORMATION
Bonneville Joint School District #93
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
Fiscal Year Ended June 30, 2020
Original Favorable
& Final (Unfavorable)
REVENUES Budget Actual Variance
Property taxes 7,955,000 7,790,559 (164,441)
Penalties and interest on delinquent taxes 25,000 34,140 9,140
Earnings on investments 70,000 182,999 112,999
Tuition 55,000 33,791 (21,209)
Rental 15,000 19,094 4,094
Other local 648,769 458,077 (190,692)
State apportionment
Base 58,029,458 58,525,730 496,272
Transportation 2,735,766 2,899,283 163,517
Exceptional child 50,000 12,836 (37,164)
Benefits 7,900,634 7,903,351 2,717
Property tax replacement 248,117 147,863 (100,254)
Other state revenue 5,085,480 5,303,246 217,766
Total revenues 82,818,224 83,310,969 492,745
EXPENDITURES
Instruction
Elementary 21,688,265 21,195,622 492,643
Secondary 20,482,422 20,419,241 63,181
Alternative school 728,483 709,116 19,367
Special education program 4,781,109 4,241,442 539,667
Special education preschool program 465,165 345,643 119,522
Gifted and talented 318,612 291,354 27,258
Interscholastic program 1,180,632 1,155,778 24,854
School activity 229,606 226,382 3,224
Total instruction 49,874,294 48,584,578 1,289,716
Support services
Attendance, guidance, and health 2,715,937 2,800,771 (84,834)
Special education support services 4,259,495 5,457,925 (1,198,430)
Instructional improvement 1,958,424 2,282,530 (324,106)
Educational media 764,598 830,676 (66,078)
Instruction related technology 1,812,262 1,707,716 104,546
Total support services 11,510,716 13,079,618 (1,568,902)
See Independent Auditor's Report.
41
Bonneville Joint School District #93
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
Fiscal Year Ended June 30, 2020
Original Favorable
& Final (Unfavorable)
EXPENDITURES, continued Budget Actual Variance
Administration
Board of Education 354,841 322,048 32,793
District administration 308,413 314,172 (5,759)
School administration 6,289,882 6,087,407 202,475
Total administration 6,953,136 6,723,627 229,509
Business Administrative Services
Business operations 1,640,312 1,518,283 122,029
Central services 202,118 153,725 48,393
Administrative Technology Services 40,000 19,626 20,374
Total business administrative services 1,882,430 1,691,634 190,796
Operations
Building care (custodial) 5,101,503 4,736,366 365,137
Maintenance 2,778,146 2,656,130 122,016
Security 447,836 388,825 59,011
Total operations 8,327,485 7,781,321 546,164
Transportation 3,863,300 3,526,878 336,422
Community service 127,792 90,939 36,853
Total expenditures 82,539,153 81,478,595 1,060,558
Revenues over (under) expenditures 279,071 1,832,374 1,553,303
OTHER FINANCING SOURCES (USES)
Operating transfers, net (467,111) (461,166) 5,945
Contingency - budget only (4,317,931) 4,317,931
Revenues and other financing sources
over (under) expenditures (4,505,971) 1,371,208 5,877,179
Fund balance - July 1, 2019 5,497,663
Fund balance - June 30, 2020 6,868,871
See Independent Auditor's Report.
42
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2020
Schedule of Changes in Total OPEB Liability and Related Ratios
As of the measurement date of June 30, 2020
2020 2019 2018
Total OPEB Liability
Service cost 513,403 512,500 456,245
Interest on total OPEB liabilty 168,399 147,380 149,723
Differences in experience (512,762) -(298,301)
Effect of assumption changes or inputs (700,828) 137,467 182,443
Expected benefit payments (246,776) (197,261) (176,160)
Net change in total OPEB liability (778,564) 600,086 313,950
Total OPEB liability, beginning 4,556,903 3,956,817 3,642,867
Total OPEB liability, ending 3,778,339 4,556,903 3,956,817
Covered valuation payroll 43,470,000 45,056,550 43,428,000
Total OPEB liability as a % of covered valuation payroll 8.69% 10.11% 9.11%
* GASB Statement No. 75 requires ten years of information to be presented in this table. However, until a full
10-year trend is compiled, the District will present information for those years for which information is
available.
See Independent Auditor's Report.
43
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2020
Schedule of Employer's Share of Net OPEB Asset
PERSI-Sick Leave Plan
Last 10 - Fiscal Years*
2019 2018 2017
Employer's portion of net OPEB asset 3.6101186% 3.3965902% 3.1983609%
Employer proportionate share of the net OPEB asset 3,457,786 2,817,300 2,455,155
Employer's covered-employee payroll 51,263,509 45,756,462 40,809,784
Employer's proportional share of the net OPEB asset as
percentage of its covered-employee payroll 6.745% 6.157% 6.016%
Plan fiduciary net position as a percentage of the total OPEB asset 138.51% 135.69% 136.78%
* GASB Statement No. 75 requires ten years of information to be presented in this table. However, until a full 10-year trend
is compiled, the District will present information for those years for which information is available.
Data reported is measured as of June 30, 2019 (measurement date).
Schedule of Employer Contribution
PERSI-Sick Leave Plan
Last 10-Fiscal Years *
2020 2019 2018
Statutorily required contribution 157,357 594,657 530,775
Contributions in relation to the statutorily required contribution 316,207 592,204 529,753
Contribution (deficiency) excess 158,851 (2,453) (1,022)
Employer's covered payroll 54,260,793 51,263,509 45,756,462
Contributions as a percentage of covered payroll 0.580% 1.160% 1.160%
* GASB Statement No. 75 requires ten years of information to be presented in this table. However, until a full 10-year trend
is compiled, the District will present information for those years for which information is available.
Data reported is measured as of June 30, 2020 (reporting date).
See Independent Auditor's Report.
44
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2020
Schedule of Employer's Share of Net Pension Liability
PERSI-Base Plan Last 10-Fiscal Years *
2019 2018 2017 2016 2015 2014
Employer's portion of net pension liability 1.50930670% 1.41939760% 1.31157080% 1.30930460% 1.313797300% 1.289265200%
Employers proportionate share of the net pension liability 17,228,315 20,936,362 20,615,640 26,541,615 17,300,573 9,491,010
Employer's covered payroll 51,263,509 45,756,462 40,809,784 38,322,048 36,799,863 34,937,428
Employer's proportional share of the net pension
liability as a percentage of its covered payroll 33.61% 45.76% 50.52% 69.26% 47.01% 27.17%
Plan fiduciary net position as a percentage of the total
pension liability 93.79% 91.69% 90.68% 87.26% 91.38% 94.95%
* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the District will present
information for those years for which information is available.
Data reported is measured as of June 30, 2019 (measurement date).
Schedule of Employer Contributions
PERSI-Base Plan Last 10-Fiscal Years *
2020 2019 2018 2017 2016 2015
Statutorily required contribution 6,478,739 5,803,029 5,179,631 4,619,668 4,338,056 4,165,744
Contributions in relation to the statutorily
required contribution 6,478,608 5,803,027 5,179,635 4,619,665 4,338,975 4,165,658
Contribution (deficiency) excess (131) (2) 4 (3) 919 (86)
Employer's covered payroll 54,260,793 51,263,509 45,756,462 40,809,784 38,322,048 36,799,863
Contributions as a percentage of covered-payroll 11.9398% 11.3200% 11.3200% 11.3200% 11.3224% 11.3198%
* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the District will present
information for those years for which information is available.
Data reported is measured as of June 30, 2020 (reporting date).
See Independent Auditor's Report.
45
Bonneville Joint School District #93
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2020
NOTE A BUDGET ADOPTION
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated
budgets are adopted for the General Fund. All annual appropriations lapse at year end.
See Independent Auditor's Report.
46
This page intentionally left blank.
OTHER FINANCIAL INFORMATION
CARES
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0
Bonneville Joint School District #93
All Nonmajor Funds
Combining Balance Sheet
June 30, 2020
Public Idaho Improving Perkins III Supporting All
Child Federal Special Driver's Professional School Substance Basic Migrant IDEA IDEA Professional Effective Construction Nonmajor
Nutrition Forest E-rate Projects Ed Technical Technology Abuse Programs CARES Education School-Age Preschool Medicaid Title IV Technical Title III Instruction 2016 Funds
ASSETS
Cash and investments 1,324,748 161,578 93,630 321,653 33,934 932,340 984,064 300,358 273,953 4,426,258
Federal grants/contracts 159,081 4,125 541,184 148,919 16,277 361,569 25,426 1,273,083 123,076 18,311 56,275 2,727,326
Other receivables 0 292,687 325 293,012
Supplies inventory
Total assets
140,553
1,624,382 161,578 93,630 321,653 38,059 932,340 984,064 300,358 541,184 148,919 16,277 361,569 25,426 1,565,770 0 123,076 18,311 56,275 274,278
140,553
7,587,149
LIABILITIES AND
FUND EQUITY
LIABILITIES
Accounts payable 126,165 0 0 68 0 3,403 758 0 12,595 39,677 1,681 1,032 0 1,822 0 1,964 22 3,107 35,417 227,711
Accrued wages 152,495 342 7,733 195,551 6,439 142,802 3,857 480,295 989,514
Accrued employee benefits 91,878 64 1,581 62,330 0 2,888 102,153 3,639 288,439 0 552,972
Interfund payable
Total liabilities 370,538 0 0 68 406 12,717 758 0
270,708
541,184
109,242
148,919
5,269
16,277
115,582
361,569
17,930
25,426
795,214
1,565,770 0
121,112
123,076
18,289
18,311
53,168
56,275 35,417
1,506,514
3,276,711
FUND EQUITY
Nonspendable
Restricted
Total fund equity
Total liabilities
and fund equity
140,553
1,113,291
1,253,844
1,624,382
161,578
161,578
161,578
93,630
93,630
93,630
321,585
321,585
321,653
37,653
37,653
38,059
919,623
919,623
932,340
983,306
983,306
984,064
300,358
300,358
300,358
0
541,184
0
148,919
0
16,277
0
361,569
0
25,426
0
1,565,770
0
0
0
123,076
0
18,311
0
56,275
238,861
238,861
274,278
140,553
4,169,885
4,310,438
7,587,149
See Independent Auditor's Report.
47
CARES
0 0
0 0
0
0
0 0 0
0 0 0
0 0
0 0
0
0 0 0
0
0
0 0 0 0 0 0 0 0 0 0
Bonneville Joint School District #93
All Nonmajor Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2020
Public Idaho Improving Perkins III Supporting All
Child Federal Special Driver's Professional School Substance Basic Migrant IDEA IDEA Professional Effective Construction Nonmajor
Nutrition Forest E-rate Projects Ed Technical Technology Abuse Programs CARES Education School-Age Preschool Medicaid Title IV Technical Title III Instruction 2016 Funds
REVENUES
Earnings on investments 2,906 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7,565 10,471
Food service 731,442 731,442
Other local 1,345 81,976 29,444 12,350 0 1,134,454 1,259,569
Other state revenue 4,125 588,379 1,148,034 155,935 1,896,473
Federal grants and contracts 2,929,429 41,499 0 1,493,842 148,919 63,716 2,015,769 68,975 2,708,788 151,224 123,076 56,561 283,040 10,084,838
Total revenues 3,665,122 41,499 81,976 29,444 16,475 588,379 1,148,034 155,935 1,493,842 148,919 63,716 2,015,769 68,975 3,843,242 151,224 123,076 56,561 283,040 7,565 13,982,793
EXPENDITURES
Instruction
Elementary 33,688 (1) 1,083,984 47,922 0 151,224 9,448 1,326,265
Secondary 14,575 12,370 26,871 46,306 38,645 138,767
Special education program 0 1237846 1139551 2377397
Special ed preschool program 0 68,975 138,884 207,859
School activity 5,932 0 5,932
Summer school 676 78,739 8,923 88,338
Vocational 236,132 0 114,481 350,613
Support services
Attendance, guidance, and health 8,308 40,296 54,793 103,397
Special ed support services 777,923 2,564,807 3,342,730
Instructional improvement 17,487 1,962 0 0 264,250 0 0 0 8,468 283,040 575,207
Educational media 8,092 8,092
Instructional related technology 286,639 318 12,046 598,041 6,690 14,395 8,595 926,724
School administration 11,995 11,995
Business Administrative Services 36 20,208 0 20,244
Operations 3,136 12,759 85,083 100,978
Transportation 0 1 0 1
Community services 4,054 4,054
Noninstructional services 3,523,678 6,626 0 3,530,304
Facility acquisition 368,602 368,602
Total expenditures 3,523,678 5,932 286,639 88,688 12,371 274,894 618,249 85,082 1,468,842 148,919 63,716 2,015,769 68,975 3,843,242 151,224 123,076 56,561 283,040 368,602 13,487,499
Revenues over (under) expenditures 141,444 35,567 (204,663) (59,244) 4,104 313,485 529,785 70,853 25,000 0 0 0 0 0 0 0 0 0 (361,037) 495,294
OTHER FINANCING
SOURCES (USES)
Net transfers 44,055 (25,000) 19,055
Total other financing sources 44,055 0 0 0 0 0 0 0 (25,000) 0 0 0 0 0 0 0 0 0 0 19,055
Revenues and other financing sources
over (under) expenditures and
other financing sources (uses) 185,499 35,567 (204,663) (59,244) 4,104 313,485 529,785 70,853 (361,037) 514,349
Fund balance - July 1, 2019 1,068,345 126,011 298,293 380,829 33,549 606,138 453,521 229,505 0 0 0 0 0 0 0 0 0 0 599,898 3,796,089
Fund balance - June 30, 2020 1,253,844 161,578 93,630 321,585 37,653 919,623 983,306 300,358 0 0 0 0 0 0 0 0 0 0 238,861 4,310,438
See Independent Auditor's Report.
48
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Bonneville Joint School District #93
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities
Fiscal Year Ended June 30, 2020
Balance Balance
ASSETS June 30, 2019 Receipts Disbursements June 30, 2020
Cash
Bonneville High School 299,035 945,384 993,133 251,286
Hillcrest High School 353,675 769,420 760,168 362,927
Thunder Ridge High School 187,287 7,497 8,666 186,118
Rocky Mountain Middle School 29,124 104,797 103,190 30,731
Sandcreek Middle School 214,251 946,076 924,408 235,919
Lincoln High School 30,226 192,697 185,573 37,350
Ammon Elementary School 15,834 156,547 141,769 30,612
Bridgewater Elementary 16,451 12,007 10,330 18,128
Cloverdale Elementary School 5,497 13,744 9,835 9,406
Discovery Elementary 31,332 14,264 17,356 28,240
Fairview Elementary School 12,290 53,906 44,086 22,110
Hillview Elementary School 25,663 41,735 38,664 28,734
Falls Valley Elementary School 17,397 14,866 12,832 19,431
Iona Elementary School 36,614 17,555 9,928 44,241
Mountain Valley Elementary 20,086 35,064 27,295 27,855
Rimrock Elementary School 9,914 33,474 21,756 21,632
Summit Hills Elementary School 9,915 69,831 56,379 23,367
Technical Careers High School 40,953 20,456 14,676 46,733
Tiebreaker Elementary School 16,729 13,844 7,955 22,618
Ucon Elementary School 1,575 11,932 8,272 5,235
Woodland Hills Elementary School 19,589 36,711 36,955 19,345
Total cash 1,393,437 3,511,807 3,433,226 1,472,018
Investments
Bonneville High School
Hillcrest High School
Thunder Ridge High School
Rocky Mountain Middle School 20,916 114 21,030
Sandcreek Middle School
Lincoln High School
Ammon Elementary School
Bridgewater Elementary
Cloverdale Elementary School
Discovery Elementary
Fairview Elementary School
Hillview Elementary School
Falls Valley Elementary School
Iona Elementary School
Mountain Valley Elementary
Rimrock Elementary School
Summit Hills Elementary School
Technical Careers High School
Tiebreaker Elementary School
Ucon Elementary School
Woodland Hills Elementary School
Total investments 20,916 114 -21,030
Total assets 1,414,353 3,511,921 3,433,226 1,493,048
See Independent Auditor's Report.
49
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Bonneville Joint School District #93
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities
Fiscal Year Ended June 30, 2020
Balance Balance
LIABILITIES June 30, 2019 Increases Decreases June 30, 2020
Accounts payable
Bonneville High School (72) 772 700
Hillcrest High School 57 37 20
Thunder Ridge High School 5 5
Rocky Mountain Middle School 7,463 7,344 119
Sandcreek Middle School 599 554 45
Lincoln High School 1,226 1,216 10
Ammon Elementary School 68 68
Bridgewater Elementary 111 111
Cloverdale Elementary School 5,150 5,150
Discovery Elementary 926 926
Fairview Elementary School 74 73 1
Hillview Elementary School 590 590
Falls Valley Elementary School 7 7
Iona Elementary School 171 171
Mountain Valley Elementary 194 180 14
Rimrock Elementary School (19) 29 10
Summit Hills Elementary School 257 239 18
Technical Careers High School 411 273 138
Tiebreaker Elementary School 82 82
Ucon Elementary School 12 12
Woodland Hills Elementary School 1,082 1,081 1
Total accounts payable 18,382 813 18,107 1,088
Due to student groups
Bonneville High School 299,107 944,612 993,133 250,586
Hillcrest High School 353,618 769,420 760,131 362,907
Thunder Ridge High School 187,287 7,492 8,666 186,113
Rocky Mountain Middle School 42,577 104,911 95,846 51,642
Sandcreek Middle School 213,652 946,076 923,854 235,874
Lincoln High School 29,000 192,697 184,357 37,340
Ammon Elementary School 15,766 156,547 141,701 30,612
Bridgewater Elementary 16,340 12,007 10,219 18,128
Cloverdale Elementary School 347 13,744 4,685 9,406
Discovery Elementary 30,406 14,264 16,430 28,240
Fairview Elementary School 12,216 53,906 44,013 22,109
Hillview Elementary School 25,073 41,735 38,074 28,734
Falls Valley Elementary School 17,397 14,859 12,832 19,424
Iona Elementary School 36,443 17,555 9,757 44,241
Mountain Valley Elementary 19,892 35,064 27,115 27,841
Rimrock Elementary School 9,933 33,445 21,756 21,622
Summit Hills Elementary School 9,658 69,831 56,140 23,349
Technical Careers High School 40,542 20,456 14,403 46,595
Tiebreaker Elementary School 16,647 13,844 7,873 22,618
Ucon Elementary School 1,563 11,932 8,260 5,235
Woodland Hills Elementary School 18,507 36,711 35,874 19,344
Total due to student groups 1,395,971 3,511,108 3,415,119 1,491,960
Total liabilities 1,414,353 3,511,921 3,433,226 1,493,048
See Independent Auditor's Report.
50
Bonneville Joint School District #93
Schedule of Taxes Receivable
Fiscal Year Ended June 30, 2020
Unearned balance at July 1, 2019
ADDITIONS
2019 Roll charges
Subsequent additions and cancellations
Total additions
DEDUCTIONS
Collections received
Current amount due on taxes collected
by the counties
Total deductions
Unearned balance at June 30, 2020
Total
248,072
7,878,361
(33,913)
7,844,448
5,076,533
2,724,298
7,800,831
291,689
General Fund
2019
0
2018
and prior
248,072
7,878,361
(8,061)
7,870,300
(25,852)
(25,852)
4,950,704
2,713,965
7,664,669
125,829
10,333
136,162
205,631 86,058
See Independent Auditor's Report.
51
Bonneville Joint School District #93
Schedule of Taxes Receivable
Fiscal Year Ended June 30, 2020
Debt Service Fund Capital Projects Fund
2018 2018
Total 2019 and prior Total 2019 and prior
249,413 0 249,413 109,944 0 109,944
9,658,844 9,658,847 2,828,128 2,828,129
(35,300) (9,883) (25,417) (25,393) (2,893) (22,500)
9,623,544 9,648,964 (25,417) 2,802,735 2,825,236 (22,500)
6,177,504 6,045,190 132,314 1,821,932 1,770,106 51,826
3,365,485 3,356,268 9,217 984,731 980,854 3,877
9,542,989 9,401,458 141,531 2,806,663 2,750,960 55,703
329,968 247,506 82,465 106,016 74,276 31,741
See Independent Auditor's Report.
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Annual Federal Compliance Section
Bonneville Joint School District #93
June 30, 2020
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED
ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
Board of Trustees
Bonneville Joint School District #93
Idaho Falls, Idaho
We have audited, in accordance with the auditing standards generally accepted in the United States and the standards
applicable to the financial audits contained in the Government Auditing Standards issued by the Comptroller General
of the United States, the financial statements of the governmental activities, each major fund, and the aggregate
remaining fund information of Bonneville Joint School District #93 as of and for the year ended June 30, 2020, and
the related notes to the financial statements, which collectively comprise Bonneville Joint School District #93’s basic
financial statements, and have issued our report thereon dated October 21, 2020.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over
financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances
for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion
on the effectiveness of Bonneville Joint School District #93’s internal control. Accordingly, we do not express an
opinion on the effectiveness of the District’s internal control.
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, to 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. A significant deficiency is a deficiency, or a combination of deficiencies,
in internal control that is less severe than a material weakness, yet important enough to merit attention by those
charged with governance.
Our consideration of the internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant
deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we
consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Bonneville Joint School District #93’s financial statements
are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial
statements. 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. The results of our tests disclosed no instances of noncompliance
or other matters that are required to be reported under Government Auditing Standards.
53
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the District’s internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 21, 2020
54
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR
FEDERAL PROGRAM AND REPORT ON INTERNAL CONTROL OVER
COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE
Board of Trustees
Bonneville Joint School District #93
Idaho Falls, Idaho
Report on Compliance for Each Major Federal Program
We have audited Bonneville Joint School District #93’s compliance with the types of compliance requirements
described in the U.S. Office of Management and Budget (OMB) Compliance Supplement that could have a direct
and material effect on the Bonneville Joint School District #93’s major federal program for the year ended June
30, 2020. Bonneville Joint School District #93’s major federal programs are identified in the summary of
auditor’s results section of the accompanying schedule of findings and questioned costs.
Management’s Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to its major federal program.
Auditor’s Responsibility
Our responsibility is to express an opinion on compliance for Bonneville Joint School District #93’s major federal
programs based on our audit of the types of compliance requirements referred to above. We conducted our audit
of compliance in accordance with auditing standards generally accepted in the United States; the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of
the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Those standards and the Uniform Guidance 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 Bonneville Joint School District #93’s compliance with those requirements and performing
such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for its major federal program.
However, our audit does not provide a legal determination of the District’s compliance.
Opinion on Each Major Federal Program
In our opinion, the District complied, in all material respects, with the types of 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, 2020.
55
Report on Internal Control over Compliance
Management of Bonneville Joint School District #93 is responsible for establishing and maintaining effective
internal control over compliance with the types of compliance requirements referred to above. In planning and
performing our audit of compliance, we considered Bonneville Joint School District #93’s internal control over
compliance with the types of requirements that could have a direct and material effect on each major federal
program to determine the auditing procedures that are appropriate in the circumstances for the purpose of
expressing an opinion on compliance for the major federal programs and to test and report on internal control over
compliance in accordance with Uniform Guidance, 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 Bonneville Joint School District #93’s internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance
does not allow management or employees, in the normal course of performing their assigned functions, to prevent
or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely
basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in
internal control over compliance, such that there is a reasonable possibility that material noncompliance with a
type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely
basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of
deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that
is less severe than a material weakness in internal control over compliance, yet important enough to merit
attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control over compliance that might be
material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over
compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly, this report is not suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 21, 2020
56
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2020
SECTION I -SUMMARY OF AUDITORS’ RESULTS
Financial Statements
Type of auditor’s report issued: Unmodified.
Internal control over financial reporting:
Material weakness (es) identified? Yes X No
Significant deficiency (ies) identified
that are not considered to be
material weaknesses? Yes X None reported
Noncompliance material to financial statements noted? Yes X No
Federal Awards
Internal control over major programs:
Material weakness (es) identified? Yes X No
Significant deficiency(ies) identified
that are not considered to be
material weaknesses? Yes X None reported
Type of auditor’s report issued on compliance for major programs: Unmodified.
Any audit findings disclosed that are required to be reported in accordance
with Title 2 U.S. Code of Federal Regulations, Part 200, Uniform
Administrative Requirement, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance)? Yes X No
Identification of major programs:
CFDA Number(s) Name of Federal Program or Cluster
84.010 Title I
10.553/10.555/10.559 Child Nutrition Cluster
Dollar threshold used to distinguish
between type A and type B programs: $750,000
Auditee qualified as low-risk auditee? Yes X No
57
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2020
SECTION II -FINDINGS -FINANCIAL STATEMENT AUDITS
NONE
SECTION III -FINDINGS AND QUESTIONED COSTS -MAJOR FEDERAL AWARD PROGRAMS
AUDIT
NONE
58
Entity Identifying
Education:
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2020
Federal Grantor / Pass-Through Grantor / Program Title
Federal
CFDA
Number
Pass-Through
Entity Identifying
Number Expenditures
United States Department of Education
Passed Through Idaho State Department of Education:
Title I Grants to Local Educational Agencies
COVID-19 – Elementary and Secondary School Emergency
Relief
Migrant Education -Basic State Grant Program
English Language Acquisition
Supporting Effective Instruction
Student Support and Academic Enrichment
84.010
84.425d
84.011
84.365
84.367
84.424
S010A180012
S010A190012
S011A180012
S011A190012
S365A180012
S365A190012
S367A180011
S367A190011
S424A190013
291,014
1,202,827
148,919
14,368
49,347
11,525
45,036
66,409
216,631
151,224
Subtotal 2,197,300
Special Education Cluster
Special Education – School-age
Special Education – Preschool
84.027
84.173
H027A170088
H027A180088
H183A180030
4,491
2,011,278
68,975
Total Special Education Cluster 2,084,744
Total Passed Through the Idaho State Department of Education 4,282,044
Passed Through the State Division of Professional-Technical
Vocational Education -Basic Grants to States 84.048 V048A180012 123,076
Total U.S. Department of Education 4,405,120
59
9
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2020
Federal Grantor / Pass-Through Grantor / Program Title
Federal
CFDA
Number
Pass-Through
Entity Identifying
Number Expenditures
United States Department of Agriculture
Passed Through the Idaho State Department of Education:
Child Nutrition Cluster
Cash Assistance
School Breakfast Program
National School Lunch Program
COVID-19 – Summer Food Service Program for Children
Summer Food Service Program for Children
Non-Cash Assistance (Commodities)
National School Lunch Program
Total Child Nutrition Cluster
10.553
10.555
10.559
10.559
10.555
201919N109947
202020N109947
201919N109947
202020N109947
202020N850347
201919N109947
57,381
267,354
232,650
964,874
982,687
78,667
2,583,613
345,817
2,929,430
Discretionary Grants 10.579 201616L180330 1,051
Total Passed Through Idaho State Department of Education 2,930,481
Passed Through Bonneville County
Federal Forest 10.665 5,932
Total U.S. Department of Agriculture 2,936,413
Total expenditures of federal awards 7,341,534
60
Bonneville Joint School District #93
Notes to Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2020
NOTE A BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the District
under programs of the federal government for the year ended June 30, 2020. The information in this schedule is
presented in accordance with the requirements of the Uniform Guidance issued by the Office of Management and
Budget (OMB). Because the schedule presents only a selected portion of the operations of the District, it is not
intended to and does not present the financial position or changes in net assets of the District.
NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting as described in
Note A to the District’s financial statements. Such expenditures are recognized following the cost principles
contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursements. Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are
presented where available.
NOTE C NONMONETARY TRANSACTIONS
Nonmonetary assistance is reported for the Food Distribution Program at fair market value of commodities
received which is established by the State Department of Education. The District held an undetermined amount of
those commodities in inventory at June 30, 2020.
NOTE D INDIRECT COST RATE
The District has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
NOTE E SUBRECIPIENTS
The District had no subrecipients or subrecipient expenditures.
61
Bonneville Joint School District #93
Summary Schedule of Prior Year Audit Findings
Fiscal Year Ended June 30, 2020
Audit Finding Reference:
Finding 2019-001 and 2019-002 Cost allocation and documentation – (Material Weakness)
Condition: Two employees inaccurately were coded to the Title I program. According to their contracts and signed
affidavits, their time was not appropriately split.
Recommendation: We recommend that the District create or modify current processes to ensure that communication on
employee changes and coding requirements are completed timely and reviewed. We further recommend that the Time and
Effort processes be reviewed to ensure proper and complete completion as noted in finding 2019-003 in conjunction with
the above.
Status: Im plemented additional procedures to prevent or detect the issue.
2019-003 Time and Effort Documentation – (Material Weakness)
Condition: Two employees in the sample had no documentation to support the allocation of their salary and benefit costs
to the Title I federal program.
Auditor Recommendation: We recommend that the District create a method to verify that all employee Time & Effort
items are identified and collected as required under the program requirements. This may take the form of a payroll report
cross-referenced against a spreadsheet or any other method that accurately tracks what has been done, and what remains to
be done. The verification against payroll records for allocation and completeness is strongly recommended.
Status: Implemented additional procedures and training to avoid further issues.
62