HomeMy WebLinkAbout2015 Bonneville School District Audit
Report of Audit
Bonneville Joint School District #93
Idaho Falls, Idaho
June 30, 2015
Bonneville Joint School District #93
Contents
June 30, 2015
i
INDEPENDENT AUDITOR’S REPORT .......................................................................................................... 1-3
MANAGEMENT’S DISCUSSION & ANALYSIS ......................................................................................... 4-10
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position ............................................................................................................................ 11
Statement of Activities ................................................................................................................................ 12
Fund Financial Statements
Combined Balance Sheet
Governmental Funds .................................................................................................................................... 13
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position .................................................................................................................. 14
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances ............................... 15-16
Reconciliation of the Governmental Funds Revenues, Expenditures, and Changes
in Fund Balances to the Statement of Activities .......................................................................................... 17
Fiduciary Funds
Statement of Fiduciary Net Position ............................................................................................................ 18
Notes to Financial Statements ...................................................................................................................... 19-37
REQUIRED FINANCIAL INFORMATION
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual .......................................................................................................................................... 38-39
Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual ................................................................................................................................................ 40
Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual ................................................................................................................................................ 41
Required Supplementary Information ................................................................................................................ 42
Notes to Required Supplementary Information ................................................................................................. 43
Bonneville Joint School District #93
Contents
June 30, 2015
ii
OTHER FINANCIAL INFORMATION
All Nonmajor Funds
Combining Balance Sheet .................................................................................................................................. 44
All Nonmajor Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance ........................................... 45
All Agency Funds
Combining Statement of Changes in Assets and Liabilities ........................................................................ 46-47
Taxes Receivable ......................................................................................................................................... 48-49
SINGLE AUDIT 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 ........................................... 50-51
Independent Auditor’s Report on Compliance with Requirements That
Could Have a Direct and material Effect on Each Major Program and on
Internal Control over Compliance in Accordance with OMB Circular A-133 ............................................ 52-53
Schedule of Findings and Questioned Costs ................................................................................................ 54-55
Schedule of Expenditures of Federal Awards .............................................................................................. 56-57
Notes to Schedule of Expenditures of Federal Awards ..................................................................................... 58
Summary Schedule of Prior Audit Findings ..................................................................................................... 59
1
Wipfli LLP
1220 Whitewater Drive
Idaho Falls, ID 83402-4959
208.523.5953
fax 208.523.8995
www.wipfli.com
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, 2015, 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 of America; 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 of 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 of America 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 preparations 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, 2015, and the respective changes in financial position for
the year then ended in accordance with accounting principles generally accepted in the United States of America.
2
Change in Accounting Principle
As discussed in Note A to the financial statements, in 2015 the District adopted new accounting guidance, GASB
Statement No. 68, Accounting and Financial Reporting for Pension- an amendment of GASB Statements No. 27.
Our opinion is not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s
Discussion and Analysis, budgetary comparison information, OPEB funding information, 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 4 through 10 and
pages 38 through 43 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
of America, which consisted of inquiries of management about the methods of preparing the information and
comparing the information for consistency with management’s responses to our inquiries, the basic 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.
Supplementary 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 combining and individual nonmajor fund financial
statements, the fiduciary/agency fund combining statement 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 the U.S. Office
of Management and Budget Circular A-133, Audits of States, Local Governments, and Nonprofit Organizations,
are presented for purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements, the agency fund combining statement of
changes in assets and liabilities and other schedules listed in the table of contents and the schedule of expenditures
of federal awards, as required by the U.S. Office of Management and Budget Circular A-133, Audits of States,
Local Governments, and Nonprofit Organizations, are the responsibility of management and was derived from
and relates 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 of America. In our opinion, the combining and individual nonmajor fund financial
statements, the agency fund combining statement of changes in assets and liabilities and 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 27, 2015, on
our consideration of Bonneville Joint School District #93’s internal control over financial reporting and our tests
of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, and other matters.
3
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 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 27, 2015
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
4
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, 2015. 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 2015 are as follows:
In total, net position increased $8,512,981 which represents a 65% increase from 2014 restated balance of
$12,954,951.
General revenues accounted for $61,765,211 in revenue or 79% of all revenues. Program specific revenues in the
form of charges for services, operating grants and contributions, and capital grants and contributions accounted
for $16,008,680 or 21% of total revenues of $77,773,891.
Total assets of governmental activities decreased by $2,220,319, as cash and cash equivalents increased by
$881,877, receivables decreased by $771,026, inventory increased by $36,167, and capital assets decreased by
$2,367,337. 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 $6,868,569.
The District had $69,260,910 in expenses; only $16,008,680 of these expenses were offset by program specific
charges for services, grants, or contributions. General revenues (primarily state support and local property taxes)
of $61,765,211 were not adequate to provide for these programs.
Among major funds, the General Fund had $57,630,378 in revenues, and $56,995,636 in expenditures. The
General Fund’s fund balance increased $428,221 from 2014.
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.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
5
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 2015?” 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 like activities.
REPORTING THE DISTRICT’S MOST SIGNIFICANT FUNDS
Fund Financial Statements
The analysis of the District’s major funds begins on page 13. 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, and Capital Projects 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.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
6
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 2015 compared to 2014:
2015
2014
(as restated)
Assets
Current and other assets 31,011,348 30,864,330
Capital assets 76,475,181 78,842,518
Total assets 107,486,529 109,706,848
Deferred outflows of resources 4,955,790 3,953,835
Current and other liabilities 9,821,600 9,553,912
Long-term liabilities 68,087,284 91,151,820
Total liabilities 77,908,884 100,705,732
Deferred inflows of resources 13,065,503 0
Net investment in capital assets 15,294,016 13,641,500
Restricted 15,336,569 15,344,673
Unrestricted (9,162,653)(16,031,222)
Total net position 21,467,932 33,665,684
Total assets of governmental activities decreased by $2,220,319, as cash and cash equivalents increased by
$881,877, receivables decreased by $771,026, inventory increased by $36,167, and capital assets decreased by
$2,367,337. The District’s assets and deferred outflows of resources exceeded liabilities and deferred inflows of
resources by $21,467,932 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 $6,868,569 after the prior year was restated for the net pension liability
and the deferred outflows related to the pension.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
7
The following table shows the changes in net position for fiscal years 2015 and 2014:
2015 2014
Revenues
Program revenues
Charges for services 3,502,436 3,733,905
Operating grants and contributions 12,506,244 10,765,697
General revenues
Property taxes 12,760,705 12,435,211
State aid 47,465,180 43,996,868
Federal aid 12,762 925
Other 1,526,564 1,248,420
Total revenues 77,773,891 72,181,026
Program expenses
Instruction 37,930,166 40,430,276
Support services 9,265,612 8,941,144
Administrative 5,400,161 6,126,908
Business admin services 1,144,258 1,423,531
Operations 6,622,515 7,178,569
Transportation 2,693,289 2,957,021
Other support services 74,186
Community service 178,842 261,814
Noninstructional 3,416,629 3,247,840
Interest and fiscal charges 2,255,009 2,514,749
Capital improvements 280,243 781,472
Total expenses 69,260,910 73,863,324
(Decrease) increase in net position 8,512,981 (1,682,298)
GOVERNMENTAL ACTIVITIES
Governmental revenues come primarily from three sources. State aid of $55,853,252 consists of the state
apportionment, other state grants, and revenue in lieu of taxes, and makes up 71.81% of revenues from
governmental activities. Property taxes of $12,760,705 make up 16.4% of total revenues from governmental
activities. Federal grants and assistance of $6,316,992 make up 8.12% of total revenues from governmental
activities.
Instruction expenditures including the support activities of support services, administrative, business admin
services, operations, and transportation comprise $63,056,001 of District expenses.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
8
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 2015 Services 2015
Instruction 54.76 37,930,166 33,886,005
Support services 13.38 9,265,612 5,422,762
Administrative 7.80 5,400,161 5,141,610
Business admin services 1.65 1,144,258 1,069,575
Operations 9.56 6,622,515 6,039,079
Transportation 3.89 2,693,289 607,244
Other support services .11 74,186 0
Community service .26 178,842 43,290
Non-instructional 4.93 3,416,629 (10,501)
Interest and fiscal charges 3.26 2,255,009 776,039
Capital improvements .4 280,243 277,127
Total expenses 100 69,260,910 53,252,230
Instruction: Instruction expenses include activities directly dealing with the teaching of pupils and the interaction
between teacher and pupil. The pension gain reduced expenditures by $4,576,440 in 2015.
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. The pension gain reduced expenditures by $1,158,461 in 2015.
Administration: The personnel, activities, and services for directing and managing the operation of the schools in
the District. (Principals, assistant principals, secretaries, and clerks charges with responsibility for a school’s
administration.) Board of Education, Administration, Fiscal, and Business includes expenses associated with
administrative and financial supervision of the District. The pension gain reduced expenditures by $612,008 in
2015.
Business Admin Services: The program concerned with the fiscal operations of the District. This program may
include 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. The pension gain reduced expenditures by $392,604 in 2015.
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 school district
vehicles. The pension gain reduced expenditures by $183,242 in 2015.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
9
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. The pension gain
reduced expenditures by $141,090 in 2015.
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 13. These funds are accounted for using the modified
accrual basis of accounting. All governmental funds had total revenues of $77,764,980 and expenditures of
$77,934,191. The net change in fund balance for the year in the General Fund, Debt Service Fund, and the
Capital Projects Fund, was a increase of $428,221 an increase of $727,820 and a decrease of $549,232
respectively.
GENERAL FUND BUDGETING HIGHLIGHTS
During the course of the fiscal 2015 year, the District did not amend its budget.
For the General Fund, the budgeted revenue was $55,997,326 and the budgeted expense was $57,621,778. Actual
revenue was $57,630,378. The District received an additional $584,000 for leadership premiums to qualifying
personnel and $711,000 due to increased enrollment. Actual expenditures were $56,995,636 due in part, to the
salary payments for the leadership premiums.
CAPITAL ASSETS
At the end of the fiscal year 2015, the District had $76,475,181 invested in land, buildings, furniture and
equipment, and vehicles (net of accumulated depreciation).
2015 2014
Non-depreciable assets 6,414,620 6,094,290
Buildings and improvements 67,448,015 70,514,751
Equipment 1,457,420 1,372,086
Vehicles 1,155,126 861,391
Total capital assets, net 76,475,181 78,842,518
Overall capital assets decreased $2,367,337 from fiscal year 2014 to fiscal year 2015. Decreases in capital assets,
primarily buildings, equipment, and vehicles, was due to depreciation expense for the year.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2015
10
DEBT ADMINISTRATION
At June 30, 2015, the District had three general obligation bond issues as follows:
Total
Due within
one year
2007 Series Bond 5,750,000 5,750,000
2009 Series Bond 23,955,000 275,000
2012 Series Bond 26,750,000
Total 56,455,000 6,025,000
At June 30, 2015, the District’s overall legal debt margin was $113,897,241.
CURRENT FINANCIAL ISSUES AND CONCERNS
The Bonneville Joint School District No. 93 continues to be financially stable. In 2015, the District was able to
fund operating expenditures in the General Fund without deficit spending. This was due in part to an increase in
state funding for k-12 education in 2014-2015 and increased enrollment in the District.
For 2015-2016 the state legislature appropriated an increase of over 7% to the public education budget. In
addition the legislature implemented a new salary reimbursement schedule for instructional staff called the “career
ladder”. This has a five year implementation period designed to increase the beginning salaries for teachers. As
with any new funding/reimbursement model there will be challenges as we work through the process.
The most critical concern for the District continues to be providing adequate facilities for our growing student
population. The District’s fifteen year facility plan anticipates the need for a high school, middle school and three
elementary schools. In March and May of 2015 the Board of Trustees asked patrons to approve a general
obligation bond to build the much needed high school. Both bond elections failed by less than 1% of the 66.67%
needed to pass. The Board will be asking the patrons again in November 2015 to approve a general obligation
bond for the high school.
As of July 1, 2014 the District adopted GASB Statement No. 68, Accounting and Financial Reporting for
Pensions. The implementation of these standards requires governments to calculate and report the cost and
obligations associated with pensions in their financial statements, including additional note disclosures and
required supplementary information.
COMPONENT UNIT
The financial statements do not include the Bonneville Education Foundation, a component unit of the District.
The financial statements 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 April Burton, Chief Financial/
Operations Officer, at Bonneville Joint School District #93, 3497 North Ammon Road, Idaho Falls, Idaho 83401
or email at burtona@d93.k12.id.us.
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Statement of Net Position
Governmental
Activities
ASSETS
Cash and investments 20,937,228
Property tax receivable, net 5,188,427
Other receivables 4,719,594
Supplies inventory 117,351
Prepaid expenses 48,748
Land and construction in progress 6,414,620
Depreciable buildings, equipment and vehicles, net of depreciation 70,060,561
Total assets 107,486,529
DEFERRED OUTFLOWS OF RESOURCES
Related to pensions 4,955,790
Total deferred outflows of resources 4,955,790
LIABILITIES
Accounts payable 900,722
Accrued wages 5,399,549
Accrued employee benefits 2,735,332
Interest payable 785,997
Long-term liabilities
Net pension liability 5,537,175
Premium on bonds payable 4,726,165
Portion due or payable within one year
General obligation bonds 6,025,000
Other liabilities 153,043
Portion due or payable after one year
General obligation bonds 50,430,000
Other liabilities 1,215,901
Total liabilities 77,908,884
DEFFERED INFLOWS OF RESOURCES
Related to pensions 13,065,503
Total deferred inflows of resources 13,065,503
NET POSITION
Net investment in capital assets 15,294,016
Restricted for
Capital improvements 5,328,867
Debt service 9,266,328
Child nutrition 741,374
Unrestricted (9,162,653)
Total net position 21,467,932
Bonneville Joint School District #93
June 30, 2015
The accompanying notes are an integral part of these statements.
11
Bonneville Joint School District #93
Statement of Activities
Fiscal Year Ended June 30, 2015
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 37,930,166 738,424 3,305,737 (33,886,005)
Support services 9,265,612 1,571,796 2,271,054 (5,422,762)
Administrative 5,400,161 258,551 (5,141,610)
Business admin services 1,144,258 74,683 (1,069,575)
Operations 6,622,515 28,327 555,109 (6,039,079)
Transportation 2,693,289 183,075 1,902,970 (607,244)
Other support services 74,186 74,186 0
Community service 178,842 93,960 41,592 (43,290)
Noninstructional 3,416,629 878,188 2,548,942 10,501
Interest on long-term debt 2,255,009 5,550 1,473,420 (776,039)
Capital improvements 280,243 3,116 (277,127)
Total governmental activities 69,260,910 3,502,436 12,506,244 0 (53,252,230)
General revenues
Taxes
Property taxes 12,760,705
Property tax replacement 128,028
Federal grants 12,762
State aid - formula grants 47,054,248
Other state revenues 282,904
Loss on disposition of assets (3,030)
Unrestricted investments earnings 12,361
Other local 1,517,233
Total general revenues 61,765,211
Change in net position 8,512,981
Net position - beginning (as restated) 12,954,951
Net position - ending 21,467,932
The accompanying notes are an integral part of these statements.
12
Bonneville Joint School District #93
Combined Balance Sheet
Governmental Funds
June 30, 2015
All Total
Debt Capital Nonmajor Governmental
General Service Projects Funds Funds
ASSETS
Cash and investments 6,795,766 6,974,238 4,310,531 2,856,693 20,937,228
Receivables 0
Taxes - current 1,572,465 2,011,688 1,028,154 4,612,307
Taxes - delinquent 182,734 280,402 112,984 576,120
State apportionment 3,096,690 00 3,096,690
Federal grants 00 01,606,029 1,606,029
Other 00 016,875 16,875
Interfund receivable 665,016 000665,016
Supplies inventory 00 0117,351 117,351
Prepaid expenses 48,748 0 48,748
Total assets 12,361,419 9,266,328 5,451,669 4,596,948 31,676,364
LIABILITIES
Accounts payable 333,057 0 122,802 444,863 900,722
Accrued wages 4,834,349 00565,200 5,399,549
Accrued employee benefits 2,360,659 00374,673 2,735,332
Interfund payable 00665,016 665,016
Total liabilities 7,528,065 0 122,802 2,049,752 9,700,619
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 182,734 280,402 112,984 0 576,120
FUND BALANCES
Nonspendable
Inventory 00 0117,351 117,351
Prepaid expenses 48,748 48,748
Restricted for 0
Debt service 8,985,926 8,985,926
Child nutrition 00 0624,023 624,023
Other fund activities 5,215,883 1,297,152 6,513,035
Assigned 1,140,579 508,670 1,649,249
Unassigned 3,461,293 0 3,461,293
Total fund balances 4,650,620 8,985,926 5,215,883 2,547,196 21,399,625
Total liabilities, deferred inflows
of resources, and fund balances 12,361,419 9,266,328 5,451,669 4,596,948 31,676,364
The accompanying notes are an integral part of these statements.
13
21,399,625
(4,726,165)
(13,646,888)
76,475,181
576,120
Long-term liabilities at year end consisted of:
Bonds payable (56,455,000)
Accrued interest on the bonds (785,997)
Compensated absences (153,043)
OPEB obligation (1,215,901)
(58,609,941)
Total net position - governmental activities 21,467,932
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.
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 $137,023,034 and the accumulated depreciation is
$60,547,853.
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.
The premium on the bonds issued by the District is reported as an other
financing source in the governmental funds, but is reported as a liability in the
government-wide financial statements. The premium on the Series 2007,
2009, 2012A, 2012B, and 2012C bonds is reported net of amortization.
The net pension liability (asset) 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 (asset) is $5,537,175, deferred
inflows of resources related to pensions is $13,065,503, and deferred outflows
of resources related to pensions is $4,955,790.
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2015
Total fund balances - governmental funds
Amounts reported for governmental activities in the Statement of Net Position
are different because:
The accompanying notes are an integral part of these statements.
14
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2015
All Total
Debt Capital Nonmajor Governmental
General Service Projects Funds Funds
REVENUES
Property taxes 4,320,365 5,523,547 2,820,888 12,664,800
Penalties and interest on delinquent taxes 28,662 36,765 18,537 83,964
Earnings on investments 12,361 5,550 0 3,116 21,027
Food service 000867,804 867,804
Rental 28,327 00 28,327
Other local 1,785,915 52,891 90,008 1,928,814
State apportionment 0
Base 41,545,938 00 41,545,938
Transportation 1,902,970 00 1,902,970
Exceptional child 35,216 00 35,216
Benefits 5,508,310 00 5,508,310
Property tax replacement 248,028 00 248,028
Other state revenue 2,214,286 1,473,420 0 2,925,084 6,612,790
Federal grants and assistance 0006,316,992 6,316,992
Total revenues 57,630,378 7,039,282 2,892,316 10,203,004 77,764,980
EXPENDITURES
Current
Instruction 34,855,548 0 419,209 3,587,472 38,862,229
Support services 6,915,135 0 526,660 2,982,278 10,424,073
Administration 5,901,644 0 36,136 86,847 6,024,627
Business operations 930,502 0 297,457 74,786 1,302,745
Operations 5,786,674 0 906,730 48,497 6,741,901
Transportation 2,507,943 0 740,946 791 3,249,680
Other support services 74,186 74,186
Community services 98,028 80,814 178,842
Noninstructional 162 003,640,159 3,640,321
Debt service 0 6,311,462 0 6,311,462
Facility acquisition 00777,223 346,902 1,124,125
Total expenditures 56,995,636 6,311,462 3,704,361 10,922,732 77,934,191
Revenues over (under) expenditures 634,742 727,820 (812,045) (719,728) (169,211)
The accompanying notes are an integral part of these statements.
15
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2015
All Total
Debt Capital Nonmajor Governmental
General Service Projects Funds Funds
OTHER FINANCING
SOURCES (USES)
Operating transfers, net (206,521)0 262,813 (56,292) 0
Total other financing sources (uses) (206,521) 0 262,813 (56,292) 0
Revenues and other financing sources
over (under) expenditures 428,221 727,820 (549,232) (776,020) (169,211)
Fund balance - July 1, 2014 4,222,399 8,258,106 5,765,115 3,323,216 21,568,836
Fund balance - June 30, 2015 4,650,620 8,985,926 5,215,883 2,547,196 21,399,625
The accompanying notes are an integral part of these statements.
16
Total net change in fund balances - governmental funds:(169,211)
439,853
(2,364,307)
11,941
3,580,000
6,981,135
(3,030)
36,600
Change in net position of governmental activities 8,512,981
Amounts reported for governmental activities in the Statement of Activities are different
because:
The bonds were issued at a premium. In the government-wide statement of net position, the
premium is reported as a liability and is amortized over the life of the bonds. The current
year bond premium amortization reflected on the Statement of Activities is $439,853.
Bonneville Joint School District #93
For Fiscal Year Ended June 30, 2015
Reconciliation of the Governmental Funds Revenues, Expenditures, and Changes
in Fund Balances to the Statement of Activities
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 depreciation exceeded capital outlays.
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 $11,941 this year.
The net effect of various miscellaneous transactions involving capital assets (i.e., sales and
donations) is to decrease net assets.
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 increase in interest expense reported in the Statement of Activities is the
net result of the decrease in accrued interest on bonds by ($36,600).
Vested employee benefits are reported in the governmental funds when amounts are paid.
The Statement of Activities reports the value of benefits earned during the year. Change in
OPEB obligation ($95,168). Change in net pension liability $19,127,393. Change in deferred
outflows of resources related to pensions $1,001,955. Change in deferred inflows of
resources related to pensions ($13,065,503). Change in compensated absences $12,458.
Governmental funds report repayment of bond principal as an expenditure, In contrast, the
Statement of Activities treats such repayments as a reduction in long-term liabilities.
The accompanying notes are an integral part of these statements.
17
Agency
Funds
ASSETS
Cash 1,001,049
Investments 447,757
Total assets 1,448,806
LIABILITIES
Accounts payable 290,766
Due to student groups 1,158,040
Total liabilities 1,448,806
Bonneville Joint School District #93
Fiduciary Funds
Statement of Fiduciary Net Position
June 30, 2015
The accompanying notes are an integral part of these statements.
18
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Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
19
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. New Accounting Pronouncement. Management adopted the provisions of the Governmental
Accounting Standards Board Statement No. 68, Accounting and Financial Reporting for
Pension - an amendment of GASB Statement No. 27. The statement establishes new
requirements for the District to report a “net pension liability (asset) for the unfunded
(overfunded) portion of its pension plan and deferred outflows of resources and deferred
inflows of resources related to pension plans. See Note Q for the restatement of the beginning
net position.
The District has not evaluated the potential impact of these changes.
4. 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, 2015.
Complete financial information for the component unit may be obtained at the District’s
administrative office.
5. 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
20
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
6. 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.
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.
7. 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
21
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
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.
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.
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).
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
22
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
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.
8. 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 for the 2014-2015 school year.
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 reserved 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.
9. 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
organized under Idaho Law, and national banks having their principal offices in Idaho.
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
was established as a cooperative endeavor to enable public entities of the State of Idaho to
aggregate funds for investment. This pooling is intended to improve administrative
efficiency and increase investment yield. The Local Government Investment Pool is
managed by the State of Idaho Treasurer’s office. 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
23
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
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.
10. 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.
11. 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.
12. 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
13. Compensated Absences. Employees are entitled to certain compensated absences based on
their length of employment. The entire compensated absences owed are repeated in the
governmental-wide financial statement.
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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
24
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
15. 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.
Deferred Outflows / Inflows of Resources. In addition to assets, the statement of financial
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 one item that
qualifies for reporting in this category and it occurs on the government-wide statement of net
position. The District 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 (asset).
In addition to liabilities, the Statement of Financial 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. The District
has two types of items, one of which arises under a modified accrual basis of accounting, and
the other arises in the government wide financial statements, that qualify for reporting in this
category. Accordingly, the one item, 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 on the government wide financial statements.
16. 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.
17. 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
25
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
18. 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.
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.
19. 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.
20. 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
26
NOTE B CASH AND INVESTMENTS
At June 30, 2015, the carrying amount was $12,877,826 and the bank balance of the District’s
deposits was as follows:
Bank Balance
Insured by Federal Depository Insurance 760,237
Uninsured and uncollateralized 13,492,624
Totals 14,252,861
At June 30, 2015, the cost and fair market value of the District’s investments were as follows:
Deposit and investment type
Cost
Fair Market
Value
Average
Maturity
Local Government Investment Pool 9,488,528 9,502,761 118 Days
Total investments 9,488,528 9,502,761
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.
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, 2015, $13,492,624 of the District’s deposits and certificates
of deposit were exposed to custodial credit risk because it was uninsured and uncollateralized.
Of the deposits, $9,488,528 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.
The investments held by the Local Government Investment Pool are carried at cost, which is not
materially different than fair value (determined by the Idaho State Treasurer’s office).
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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
27
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, 2015, balances of
interfund amounts receivable or payable have been recorded. The interfund balances at June 30,
2015, were as follows:
Receivable Payable
General Fund 665,016
Nonmajor Funds 665,016
Total 665,016 665,016
The General Fund transferred $73,412 to Child Nutrition and $262,813 to Plant Facilities as
required by State law. The federal programs transferred $129,704 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.
NOTE E NON-MONETARY TRANSACTIONS
The District received $282,071 USDA Commodities during the 2014-2015 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 F 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, 2015, the
limit for the District was 5% of $3,227,326,301 or $161,366,315. The debt service fund had
$8,985,926 available and the general obligation debt was $56,455,000 leaving a legal debt margin
of $113,897,241.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
28
NOTE G CAPITAL ASSETS
Following is a summary of the capital assets at June 30, 2015:
Balance Balance
June 30, 2014 Additions
Deletions June 30, 2015
Capital assets, not being depreciated
Land
Elementary 2,986,916 2,986,916
Secondary 3,107,374 3,107,374
Construction in progress 320,330 320,330
Total capital assets, not being depreciated 6,094,290 320,330 6,414,620
Capital assets, being depreciated
Buildings
Elementary 70,865,596 70,865,596
Secondary 44,439,308 523,552 44,962,860
Administration 4,505,124 (15,150) 4,489,974
Total buildings 119,810,028 523,552 (15,150) 120,318,430
Equipment
Elementary 771,990 82,602 (16,400) 838,192
Secondary 1,244,428 (76,129) 1,168,299
Admin. 1,399,855 237,901 (16,739) 1,621,017
Total equipment 3,416,273 320,503 (109,268) 3,627,508
Vehicles 6,013,173 649,303 0 6,662,476
Total capital assets, being depreciated 129,239,474 1,493,358 (124,418) 130,608,414
Less accumulated depreciation for:
Buildings (49,295,277) (3,587,258)
12,120 (52,870,415)
Equipment (2,044,187) (235,169)
109,268 (2,170,088)
Vehicles (5,151,782) (355,568)
(5,507,350)
Total accumulated depreciation (56,491,246) (4,177,995)
121,388 (60,547,853)
Total capital assets being depreciated, net 72,748,228 (2,684,637)
(3,030) 70,060,561
Governmental activities capital assets, net 78,842,518 (2,364,307)
(3,030) 76,475,181
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
29
NOTE G CAPITAL ASSETS, continued
Depreciation expense was charged to the functions of the primary government as follows:
Governmental activities
Instruction 3,549,209
Operations 273,218
Transportation 355,568
Total depreciation expense – governmental activities 4,177,995
NOTE H GENERAL OBLIGATION BOND ISSUES
The District had four general obligation bond issues (2007, 2009, 2012A, and 2012C Series)
outstanding at the end of the year with interest rates ranging from 3.0 to 5.375 percent. The 2007
and 2009 Series bonds are scheduled to mature September of 2015, and September of 2028,
respectively. The 2012A and 2012C bonds are scheduled to mature September 2031 and
September 2026, respectively.
Future debt service requirements are as follows:
Fiscal Year Ended June 30, Total Interest Principal
2016 8,557,038 2,532,038 6,025,000
2017 4,801,788 2,351,788 2,450,000
2018 4,773,175 2,253,175 2,520,000
2019 4,781,688 2,141,688 2,640,000
2020 4,782,975 2,037,975 2,745,000
2020-2024 23,806,156 8,176,156 15,630,000
2025-2029 21,847,523 3,837,523 18,010,000
2030-2032 6,760,175 325,175 6,435,000
Total 80,110,518 23,655,518 56,455,000
Changes to bond principal payable and future interest payable are summarized as follows:
Principal
2012A
Series
2012B
Series
2012C
Series
2009
Series
2007
Series
Combined
Total
Balances at July 1, 2014 11,780,000 1,930,000 14,970,000 24,440,000 6,915,000 60,035,000
Bonds retired 1,930,000 485,000 1,165,000 3,580,000
Balances at June 30, 2015 11,780,000 0 14,970,000 23,955,000 5,750,000 56,455,000
Interest to be Provided
Balances at July 1, 2014 9,418,650 24,125 4,703,675 11,797,894 442,153 26,386,497
Interest paid 587,601 24,125 648,850 1,167,624 302,779 2,730,979
Balances at June 30, 2015 8,831,049 0 4,054,825 10,630,270 139,374 23,655,518
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
30
NOTE I CHANGES IN LONG-TERM LIABILITIES
Following is a summary of the changes in long-term debt for the year ended June 30, 2015:
Balance Balance Current
July 1, 2014 Additions Deductions June 30, 2015 Balance
Bonds payable 60,035,000 3,580,000 56,455,000 6,025,000
Premium on bonds 5,166,018 439,853 4,726,165
Employee benefits 1,286,234 95,168 12,458 1,368,944 153,043
Total 66,487,252 95,168 4,032,311 62,550,109 6,178,043
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 works.
NOTE J DEFEASED DEBT
The District purchased U.S. Securities and deposited $22,664,342 to an irrevocable trust with an
escrow agent to provide for all future debt service payments on $22,870,200 of the 2005 Series
and the 2007 Series bonds. As a result, $4,925,000 of the 2005 Series and $15,430,000 of the
2007 Series bonds are defeased and the liability for those bonds has been removed from the
government-wide statement of net assets. The 2005 Series has been paid off and only the 2007
defeased debt remains outstanding.
NOTE K PAYROLL EXPENDITURES AND RELATED LIABILITIES
Teacher contracts were signed for the period September 2014, through June 2015, to be paid over
the twelve months of September 2014, through August 2015. The financial statements reflect the
salary expense for this period. The accrued payroll reflects the final two months of these
contracts.
NOTE L RETIREMENT HEALTHCARE PLAN
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.
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 2015 the District
contributed approximately $7.7 million to the plan for current premiums or approximately 87% of
total premiums.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
31
NOTE L RETIREMENT HEALTHCARE PLAN, continued
Plan members receiving benefits contributed approximately $1,145,291 or approximately 13% of
total premiums. Retirees are required to pay 100% of the premiums for both the retiree and the
dependent coverage. Monthly contribution rates in effect for the retirees under age 65 during
fiscal year 2015 were as follows:
Medical Coverage
Single $616.95
No Spouse W/Child $819.70
No Spouse W/Children $955.40
W/Spouse $1,018.70
W/Spouse + Child $1,218.10
W/Spouse + Children $1,218.10
Dental Coverage Delta Dental Willamette Dental
Single $37.95 $41.35
No Spouse W/Child $66.65 $104.42
No Spouse W/Children $120.00 $104.42
W/Spouse $75.5 $67.19
W/Spouse + Child $138.75 $104.42
W/Spouse + Children $138.75 $138.75
Annual OPEB Cost and Net OPEB Obligation. The District’s annual other post-employment
benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the
employer (ARC), an amount actuarially determined in accordance with the parameters of GASB
Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is
projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or
funding excess) over a period not to exceed thirty years.
The following table shows the components of the District’s annual OPEB cost for the year of
implementation of Bonneville Joint School District #93’s Post-Retirement Healthcare Plan:
Annual required contribution 337,571
Interest on net OPEB obligation 47,631
Adjustment to annual required contribution (44,829)
Annual OPEB cost (expense) 340,373
Contributions made (245,204)
Increase in net OPEB obligation 95,169
Net OPEB obligation – beginning of year 1,120,732
Net OPEB obligation - end of year 1,215,901
Annual OPEB cost Percentage of OPEB cost contributed Net OPEB obligation
$340,373 72% $1,215,901
Three year disclosure of the District’s annual OPEB cost, the percentage of annual OPEB cost
contributed to the plan, and the net OPEB obligation are presented as RSI which accompany the
financial statements.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
32
NOTE L RETIREMENT HEALTHCARE PLAN, continued
Funded Status and Funding Progress. As of July 1, 2014, the most recent actuarial valuation
date, the actuarial accrued liability (AAL) and the unfunded actuarial accrued liability (UAAL)
for benefits was $2,724,093. The District’s plan is considered to be unfunded since there are no
assets and retiree benefits are paid annually on a cash basis. Because the plan is unfunded, the
AAL and UAAL are equal. The covered payroll (annual payroll of active employees covered by
the plan) was $36.8 million and the ratio of the UAAL to the covered payroll was 7.4%
Actuarial valuations of an ongoing plan involve estimates of the value of the reported amounts
and assumptions about the probability of occurrence of events far into the future. Examples
include assumptions about future employment, mortality, and the healthcare cost trend. Amounts
determined regarding the funded status of the plan and the annual required contributions of the
employer are subject to continual revision as actual results are compared with past expectations
and new estimates are made about the future. The schedule of funding progress will be presented
in the future when multi-year trend information about whether the actuarial value of plan assets is
increasing or decreasing over time relative to the actuarial liabilities for benefits is available.
Actuarial Methods and Assumptions. Projections of benefits for financial reporting purposes are
based on the substantive plan (the plan as understood by the employer and the plan members) and
include the types of benefits provided at the time of each valuation and the historical pattern of
sharing of benefit costs between the employer and plan members to that point. The actuarial
methods and assumptions used include techniques that are designed to reduce the effects of short-
term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the
long-term perspective of the calculations.
In the July 1, 2014, actuarial valuation, the Projected Unit Credit (PUC) actuarial cost method is
used. The actuarial assumptions included a 4.25% discount rate assuming the District will fund
the retirement benefit on a pay-as-you-go basis. The valuation assumes that 45% of future retirees
will elect medical coverage, 44.8% of future retirees will elect dental coverage, 70% of future
retirees who elect medical, dental or vision coverage and are married are assumed to elect spousal
coverage as well. The annual healthcare cost trend rate of 7% for medical, 7% for prescription
drugs, and 7% for dental initially, decreasing approximately .5% per year for medical, .5% per
year for prescription drugs, and .5% per year for dental until reaching an ultimate rate of 4.5%. It
was assumed salary increases will be 2.5% per annum. The UAAL is being amortized as a level
percentage of projected payrolls over a twenty five year time period.
NOTE M 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 for the 2014-2015 school 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
33
NOTE N 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.
Employee membership data related to the PERSI Base Plan, as of June 30, 2014, was as follows:
Active system members 66,223
Inactive system members entitled to but not yet receiving benefits 11,504
Inactive system members or beneficiaries currently receiving benefits 40,776
Total system members 118,503
Pension Benefits
The Base Plan provides retirement, disability, death, and survivors of 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% 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
34
NOTE N PENSION PLAN, continued
The contribution rates for employees are set by statute at 60% of the employer rate. As of June
30, 2014 it was 6.79%. The employer contribution rate is set by the Retirement Board and was
11.32% of covered compensation. The District’s contributions were $3,953,835 for the year
ended June 30, 2014.
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At June 30, 2015, the District reported a liability for its proportionate share of the net pension
liability. The net pension liability was measured as of July 1, 2014, 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 July 1, 2014, the District’s proportion was 1.2892652 percent.
For the year ended June 30, 2015, the District recognized pension revenue of $2,898,099. At
June 30, 2015, the District reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between expected and actual experience 1,178,162
Changes in assumptions or other inputs 790,043
Net difference between projected and actual earnings on
pension plan investments
11,887,340
District contributions subsequent to the measurement date 4,165,747
Total 4,955,790 13,065,502
$4,165,747 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, 2015.
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, 2013, the
beginning of the measurement period ended June 30, 2014, is 5.6 years.
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:
2015 (3,056,209)
2016 (3,056,209)
2017 (3,056,209)
2018 (3,056,209)
2019 (50,624)
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
35
NOTE N PENSION PLAN, continued
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 50-1322, Idaho Code, is 25 years.
The total pension liability in the July 1, 2014, actuarial valuation was determined using the
following actuarial assumptions, applied to all periods included in the measurement:
Inflation 3.25%
Salary increases 4.5 – 10.25%
Salary inflation 3.75%
Investment rate of return 7.10%, net investment expenses
Cost-of-living adjustments 1%
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 in 2012 for the period July 1, 2007 through June 30, 2011
which reviewed all economic and demographic assumptions other than mortality. Mortality and
all economic assumptions were studied in 2014 for the period from July 1, 2009 through June 30,
2013. The Total Pension Liability as of June 30, 2014, is based on the results of an actuarial
valuation date of July 1, 2014.
The long-term expected rate of return on pension plan investments was determined using the
building bock 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
36
NOTE N PENSION PLAN, continued
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. The capital market assumptions are as of January 1, 2014.
Asset Class
Index
Target
Allocation
Long-Term
Expected
Real Rate of
Return
Core Fixed Income Barclays Aggregate 30.00% 0.80%
Broad US Equities Wilshire 5000 / Russell 3000 55.00% 6.90%
Developed Foreign Equities MSCI EAFE 15.00% 7.55%
Assumed Inflation – Mean 3.25%
Assumed Inflation – Standard
Deviation 2.00%
Portfolio Arithmetic Mean Return 8.42%
Portfolio Standard Deviation 13.34%
Portfolio Long-Term Expected
Rate of Return
7.50%
Assumed Investment Expenses 0.40%
Long-Term Expected Rate of Return, Net of Investment Expenses 7.10%
Discount Rate
The discount rate used to measure the total pension liability was 7.10%. 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 7.10 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 (6.10 percent) or 1-percentage-point higher (8.10 percent) than the current rate:
1% Decrease
(6.10%)
Current
Discount Rate
(7.10%)
1% Increase
(8.10%)
Employer’s proportionate share of the net
pension liability (asset) 32,959,504 9,491,010 (10,018,151)
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2015
37
NOTE N 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.
NOTE O COMMITMENTS AND CONTINGENCIES
The District is involved in claims arising from the ordinary course of operations. 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.
NOTE P CONSTRUCTION COMMITMENTS
The District has entered into construction commitments with three vendors as of June 30, 2015,
totaling $294,039. All three commitments will be completed in the next fiscal year.
NOTE Q PRIOR YEAR RESTATEMENT
As a result of the implementation of GASB Statement No. 68, the governmental activities
beginning net position was restated to subtract the beginning net pension liability for PERSI by
$24,664,568 and to add deferred outflows of resources – contributions after the measurement date
resulting in a restated balance of $12,954,951.
NOTE R SUBSEQUENT EVENTS
Management of the District evaluated subsequent events through October 27, 2015, which was
the date the financial statements were available to be issued. There were no subsequent type
events, identified by management of the District, that are required to be disclosed.
REQUIRED FINANCIAL INFORMATION
Favorable
(Unfavorable)
REVENUES Budget Actual Variance
Property taxes 4,520,000 4,320,365 (199,635)
Penalties and interest on delinquent taxes 25,000 28,662 3,662
Earnings on investments 8,000 12,361 4,361
Tuition 5,000 73,336 68,336
Rental 20,000 28,327 8,327
Other local 952,678 1,712,579 759,901
State apportionment
Base 41,410,406 41,545,938 135,532
Transportation 1,775,000 1,902,970 127,970
Exceptional child 73,000 35,216 (37,784)
Benefits 5,503,068 5,508,310 5,242
Property tax replacement 248,027 248,028 1
Other state revenue 1,457,147 2,214,286 757,139
Total revenues 55,997,326 57,630,378 1,633,052
EXPENDITURES
Instruction
Elementary 16,953,321 16,438,349 514,972
Secondary 13,331,061 13,701,137 (370,076)
Alternative school 1,003,954 827,557 176,397
Special education program 2,779,660 3,017,088 (237,428)
Special education preschool program 224,734 204,479 20,255
Gifted and talented 60,000 23,143 36,857
Interscholastic program 494,078 475,328 18,750
School activity 155,243 168,467 (13,224)
Total instruction 35,001,973 34,855,548 146,425
Support services
Attendance, guidance, and health 1,597,905 1,627,860 (29,955)
Special education support services 2,865,864 2,457,429 408,435
Instructional improvement 677,543 836,749 (159,206)
Educational media 504,136 442,398 61,738
Instruction related technology 1,432,094 1,550,699 (118,605)
Total support services 7,077,542 6,915,135 162,407
Fiscal Year Ended June 30, 2015
Bonneville Joint School District #93
-Budget to Actual-
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
See Independent Auditor's Report.
38
Favorable
(Unfavorable)
EXPENDITURES, continued Budget Actual Variance
Administration
Board of Education 105,019 83,785 21,234
District administration 1,724,509 1,739,080 (14,571)
School administration 3,962,584 4,078,779 (116,195)
Total administration 5,792,112 5,901,644 (109,532)
Business Administrative Services
Business operations 582,047 606,733 (24,686)
Central services 141,580 116,572 25,008
Administrative Technology Services 101,700 207,197 (105,497)
Total business administrative services 825,327 930,502 (105,175)
Operations
Building care (custodial) 4,258,183 4,035,039 223,144
Maintenance 1,550,811 1,365,161 185,650
Security 394,117 386,474 7,643
Total operations 6,203,111 5,786,674 416,437
Transportation 2,629,534 2,507,943 121,591
Community service 92,179 98,028 (5,849)
Noninstructional 162 (162)
Total expenditures 57,621,778 56,995,636 626,304
Revenues over (under) expenditures (1,624,452) 634,742 2,259,356
OTHER FINANCING SOURCES (USES)
Operating transfers, net (161,705) (206,521) (44,816)
Revenues and other financing sources
over (under) expenditures (1,786,157) 428,221 2,214,540
Fund balance - July 1, 2014 4,222,399
Fund balance - June 30, 2015 4,650,620
Fiscal Year Ended June 30, 2015
Bonneville Joint School District #93
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
See Independent Auditor's Report.
39
Favorable
(Unfavorable)
Budget Actual Variance
REVENUES
Property taxes 6,980,000 5,523,547 (1,456,453)
Penalty and interest on delinquent taxes 50,000 36,765 (13,235)
Earnings on investments 0 5,550 5,550
Other state revenue 1,418,892 1,473,420 54,528
Total revenues 8,448,892 7,039,282 (1,409,610)
EXPENDITURES
Debt service
Principal 3,580,000 3,579,999 1
Interest 2,730,966 2,730,963 3
Fees 500 500 0
Total expenditures 6,311,466 6,311,462 4
Revenues over (under) expenditures 2,137,426 727,820 (1,409,614)
Revenues and other financing sources
over (under) expenditures 2,137,426 727,820 (1,409,606)
Fund balance - July 1, 2014 8,258,106
Fund balance - June 30, 2015 8,985,926
Bonneville Joint School District #93
Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2015
-Budget to Actual-
See Independent Auditor's Report.
40
Favorable
(Unfavorable)
Budget Actual Variance
REVENUES
Property taxes 2,800,000 2,820,888 20,888
Penalties and interest on delinquent taxes 0 18,537 18,537
Other local 52,891 52,891
Total revenues 2,800,000 2,892,316 92,316
EXPENDITURES
Instruction 419,209 (419,209)
Support services 129,000 526,660 (397,660)
Administration 10,000 36,136 (26,136)
Business administrative services 480,200 297,457 182,743
Operations 1,551,992 906,730 645,262
Transportation 90,000 740,946 (650,946)
Other support services 2,903,809 2,903,809
Facility acquisition 442,000 777,223 (335,223)
Total expenditures 5,607,001 3,704,361 1,902,640
Revenues over (under) expenditures (2,807,001) (812,045) 1,994,956
OTHER FINANCING SOURCES (USES)
Operating transfers, net 250,000 262,813 12,813
Revenues and other financing sources
over (under) expenditures (2,557,001) (549,232) 2,007,769
Fund balance - July 1, 2014 5,765,115
Fund balance - June 30, 2015 5,215,883
Bonneville Joint School District #93
Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2015
-Budget to Actual-
See Independent Auditor's Report.
41
( a ) ( b ) (b - a) (a / b) ( c ) [(b - a) / c]
6/30/2015 - 2,724,093 2,724,093 - 36,799,863 7.40%
6/30/2014 - 3,724,390 3,724,390 - 34,937,428 10.66%
6/30/2013 - 3,042,498 3,042,498 - 34,648,863 8.78%
2015
Employer's portion of net pension liability 1.289265200%
Employers proportionate share of the net pension liability 9,491,010
Employer's covered-employee payroll 34,799,863
Employer's proportional share of the net pension liability as a percentage of its covered-
employee payroll 27.27%
Plan fiduciary net position as a percentage of the total pension liability 94.95%
Data reported is measured as of July 1, 2014 (measurement date).
2015
Statutorily required contribution 4,190,112
Contributions in relation to the statutorily required contribution 4,009,615
Contribution (deficiency) excess (180,497)
Employer's covered-employee payroll 34,799,863
Contributions as a percentage of covered-employee payroll 11.5219%
Data reported is measured as of June 30, 2015.
Required Supplementary Information
Bonneville Joint School District #93
General Employees' Other Postemployment Benefits Plan
Fiscal Year Ended June 30, 2015
Actuarial
Valuation
Date
Schedule of Funding Progess
UAAL as a
Percentage of
Covered
Payroll
Covered
Payroll
Funded
Ratio
Unfunded
AAL (UAAL)
Actuarial
Accrued
Liability
(AAL) -
Projected Unit
Credit
Actuarial
Value of
Assets
Schedule of Employer's Share of Net Pension Liability
PERSI-Base Plan Last 10-Fiscal Years *
* 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.
Schedule of Employer Contributions
PERSI-Base Plan Last 10-Fiscal Years *
* 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.
See Independent Auditor's Report.
42
NOTE A BUDGET ADOPTION
Bonneville Joint School District #93
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2015
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.
43
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Balance Balance
ASSETS June 30, 2014 Receipts Disbursements June 30, 2015
Cash
Bonneville High School 111,148 786,527 771,968 125,707
Hillcrest High School 206,255 793,884 682,964 317,175
Rocky Mountain Middle School 59,836 175,506 165,317 70,025
Sandcreek Middle School 112,557 132,535 113,519 131,573
Lincoln High School 35,401 12,440 7,871 39,970
Ammon Elementary School 10,147 15,664 12,289 13,522
Bridgewater Elementary 11,796 11,017 3,855 18,958
Cloverdale Elementary School 9,234 27,710 23,430 13,514
Discovery Elementary 30,361 16,338 9,734 36,965
Fairview Elementary School 21,758 13,879 17,974 17,663
Hillview Elementary School 41,846 18,911 17,841 42,916
Falls Valley Elementary School 4,041 16,572 8,201 12,412
Iona Elementary School 19,865 19,644 13,847 25,662
Mountain Valley Elementary 15,775 34,188 29,170 20,793
Rimrock Elementary School 18,579 29,794 24,312 24,061
Summit Hills Elementary School 2,725 16,235 10,975 7,985
Technical Careers High School 6,826 52,615 42,692 16,749
Telford Academy 356 381 737 0
Tiebreaker Elementary School 20,062 26,589 23,872 22,779
Ucon Elementary School 7,778 17,633 13,363 12,048
Woodland Hills Elementary School 27,292 20,853 17,573 30,572
Total cash 773,638 2,238,915 2,011,504 1,001,049
Investments
Bonneville High School 242,759 53 242,812
Hillcrest High School 185,452 1,193 184,259
Rocky Mountain Middle School 20,648 38 20,686
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
Telford Academy
Tiebreaker Elementary School
Ucon Elementary School
Woodland Hills Elementary School
Total investments 448,859 91 1,193 447,757
Total assets 1,222,497 2,239,006 2,012,697 1,448,806
Bonneville Joint School District #93
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities
Fiscal Year Ended June 30, 2015
46
Balance Balance
LIABILITIES June 30, 2014 Increases Decreases June 30, 2015
Accounts payable
Bonneville High School 36,926 30,375 67,301
Hillcrest High School 23,465 80,254 103,719
Rocky Mountain Middle School 7,685 5,835 13,520
Sandcreek Middle School 641 (1,707) (1,066)
Lincoln High School 5,200 7 5,207
Ammon Elementary School 208 254 462
Bridgewater Elementary 1,830 2,088 3,918
Cloverdale Elementary School 6,990 2,728 9,718
Discovery Elementary 4,607 11,264 15,871
Fairview Elementary School 1,055 3,373 4,428
Hillview Elementary School 4,536 5,791 10,327
Falls Valley Elementary School 934 5,914 6,848
Iona Elementary School 138 5,123 5,261
Mountain Valley Elementary 313 6,928 7,241
Rimrock Elementary School 1,277 4,455 5,732
Summit Hills Elementary School 2,950 1,371 4,321
Technical Careers High School 0 7,865 7,865
Telford Academy 142 (142) 0
Tiebreaker Elementary School 241 6,919 7,160
Ucon Elementary School 600 6,346 6,946
Woodland Hills Elementary School 2,414 3,573 5,987
Total accounts payable 102,152 188,614 0 290,766
Due to student groups
Bonneville High School 316,981 786,580 802,343 301,218
Hillcrest High School 368,242 793,884 764,411 397,715
Rocky Mountain Middle School 72,799 175,544 171,152 77,191
Sandcreek Middle School 111,916 132,535 111,812 132,639
Lincoln High School 30,201 12,440 7,878 34,763
Ammon Elementary School 9,939 15,664 12,543 13,060
Bridgewater Elementary 9,966 11,017 5,943 15,040
Cloverdale Elementary School 2,244 27,710 26,158 3,796
Discovery Elementary 25,754 16,338 20,998 21,094
Fairview Elementary School 20,703 13,879 21,347 13,235
Hillview Elementary School 37,310 18,911 23,632 32,589
Falls Valley Elementary School 3,107 16,572 14,115 5,564
Iona Elementary School 19,727 19,644 18,970 20,401
Mountain Valley Elementary 15,462 34,188 36,098 13,552
Rimrock Elementary School 17,302 29,794 28,767 18,329
Summit Hills Elementary School (225) 16,235 12,346 3,664
Technical Careers High School 6,826 52,615 50,557 8,884
Telford Academy 214 381 595 0
Tiebreaker Elementary School 19,821 26,589 30,791 15,619
Ucon Elementary School 7,178 17,633 19,709 5,102
Woodland Hills Elementary School 24,878 20,853 21,146 24,585
Total due to student groups 1,120,345 2,239,006 2,201,311 1,158,040
Total liabilities 1,222,497 2,427,620 2,201,311 1,448,806
Bonneville Joint School District #93
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities
Fiscal Year Ended June 30, 2015
47
2013
Total 2014 and prior
192,315 192,315
ADDITIONS
4,316,786 4,316,786
2,792 4,327 (1,535)
4,319,578 4,321,113 (1,535)
DEDUCTIONS
2,756,695 2,646,193 110,502
1,572,464 1,565,477 6,987
4,329,159 4,211,670 117,489
182,734 109,443 73,291
Roll charges applicable to 2014
Subsequent additions and cancellations
Unearned balance at July 1, 2014
Total deductions
Unearned balance at June 30, 2015
Total additions
Collections received
Current amount due on taxes collected
by the counties
General Fund
Bonneville Joint School District #93
Fiscal Year Ended June 30, 2015
Taxes Receivable
48
2013 2013
Total 2014 and prior Total 2014 and prior
265,236 265,236 106,628 106,628
5,540,988 5,540,988 2,810,967 2,810,967
3,189 5,556 (2,367) 2,090 2,819 (729)
5,544,177 5,546,544 (2,367) 2,813,057 2,813,786 (729)
3,517,321 3,381,489 135,832 1,778,548 1,708,033 70,515
2,011,690 2,003,412 8,278 1,028,153 1,023,753 4,400
5,529,011 5,384,901 144,110 2,806,701 2,731,786 74,915
280,402 161,643 118,759 112,984 82,000 30,984
Debt Service Fund Capital Projects Fund
Bonneville Joint School District #93
Taxes Receivable
Fiscal Year Ended June 30, 2015
49
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Single Audit Section
Bonneville Joint School District #93
June 30, 2015
50
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 of America
and the standards applicable to the financial audits contain 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, 2015, 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 27, 2015.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered Bonneville Joint School District
#93’s internal control over financial reporting (internal control) to determine the 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 Bonneville Joint School District #93’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 determination of financial statement amounts.
Wipfli LLP
1220 Whitewater Drive
Idaho Falls, ID 83402-4959
208.523.5953
fax 208.523.8995
www.wipfli.com
51
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.
We noted certain matters that we reported to management of Bonneville Joint School District #93 in a separate
letter dated October 27, 2015.
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 entity’s internal control and compliance. Accordingly this communication is not
suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 27, 2015
52
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH REQUIREMENTS
THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH
MAJOR PROGRAM AND ON INTERNAL CONTROL OVER
COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
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) Circular A-133 Compliance Supplement that
could have a direct and material effect on each of Bonneville Joint School District #93’s major federal programs
for the year ended June 30, 2015. Bonneville Joint School District #93’s major federal program is 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
program 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 of America; the
standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit
Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements referred to above
that could have a direct and material effect on a major federal program occurred. An audit includes examining, on
a test basis, evidence about 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 each major federal
program. However, our audit does not provide a legal determination of Bonneville Joint School District #93’s
compliance.
Opinion on Each Major Federal Program
In our opinion, Bonneville Joint School District #93 complied, in all material respects, with the types of
compliance requirements referred to above that could have a direct and material effect on its major federal
program for the year ended June 30, 2015.
Wipfli LLP
1220 Whitewater Drive
Idaho Falls, ID 83402-4959
208.523.5953
fax 208.523.8995
www.wipfli.com
53
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 type 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 each major federal program and to test and report on internal control
over compliance in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness
of 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 requirements 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 on
internal control over compliance and the results of that testing based on the requirements of OMB Circular A-133.
Accordingly this report is not suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 27, 2015
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2015
54
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 section 510(a) of Circular A-133? Yes X No
Identification of major programs:
CFDA Number(s) Name of Federal Program or Cluster
84.027/84.173 Special Education Cluster
Dollar threshold used to distinguish
between type A and type B programs: $300,000
Auditee qualified as low-risk auditee? X Yes No
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2015
55
SECTION II - FINDINGS - FINANCIAL STATEMENT AUDITS
None
SECTION III - FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS
AUDIT
None
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2015
56
Federal Pass-Through
CFDA Entity Identifying
Federal Grantor / Pass-Through Grantor / Program Title Number Number Expenditures
United States Department of Education
Passed Through the Idaho State Department of Education
Title I Grants to Local Educational Agencies 84.010 S010A140012 1,394,146
Migrant Education - Basic State Grant Program 84.011 S011A130012 47,033
English Language Acquisition 84.365 S365A130012 31,014
Improving Teacher Quality 84.367 S367A140011 229,179
Subtotal 1,701,372
Special Education Cluster
Special Education – School-age 84.027 H027A140088 1,796,988
Special Education – Preschool 84.173 H173A140030 60,723
Total Special Education Cluster 1,857,711
Total Passed Through the Idaho State Department of Education 3,559,083
Passed Through the State Division of Professional-Technical
Vocational Education - Basic Grants to States 84.048 V048A130012 107,446
Total U.S. Department of Education 3,666,529
United States Department of Agriculture
Passed Through the State Department of Education:
Child Nutrition Cluster
School Breakfast Program 10.553 2015IN109947 389,368
National School Lunch Program-cash 10.555 2015IN109947 1,792,487
National School Lunch Program-commodities 10.555 2015IN109947 282,071
Summer Food Service Program for Children 10.559 2015IN109947 45,535
Total Child Nutrition Cluster 2,509,461
Fresh Fruit and Vegetable Program 10.582 2015CL160347 42,791
Total Passed Through the State Department of Education 2,552,252
Passed Through Bonneville County
Federal Forest 10.665 40,224
Total U.S. Department of Agriculture 2,592,476
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2015
57
Federal Pass-Through
CFDA Entity Identifying
Federal Grantor / Pass-Through Grantor / Program Title Number Number Expenditures
United States Department of Transportation
Passed Through the State Department of Transportation:
Highway Planning and Construction 20.205 A011(514) 36,949
Total U.S. Department of Transportation 36,949
United States Department of Health and Human Services
Passed Through the State Department of Health & Welfare:
Temporary Assistance for Needy Families 93.558 1202IDTANF 15,111
Total U.S. Department of Health and Human Services 15,111
Total expenditures of federal awards 6,311,065
Bonneville Joint School District #93
Notes to Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2015
58
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, 2015. The
information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-
Profit Organizations. 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 OMB Circular A-87, Cost Principles for State, Local
and Indian Tribal Governments, 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, 2015.
Bonneville Joint School District #93
Summary Schedule of Prior Year Audit Findings
Fiscal Year Ended June 30, 2015
59
Audit Finding Reference: none
Status of Prior Audit Finding: none