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Audited Financial Statements 2018 - St. Michael-Albertville School District

Independent auditor's reports on the audited financial statements of St. Michael-Albertville School District, Minnesota, for June 30, 2018. Includes information on financial position, compliance, budget, expenditure, and more.

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Audited Financial Statements 2018 - St. Michael-Albertville School District

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  1. INDEPENDENT SCHOOL DISTRICT NO. 885 St. Michael-Albertville, Minnesota Audited Financial Statements June 30, 2018

  2. Independent Auditor’s Reports • Unmodified Opinion – Best Opinion Auditor can Issue • Financial statements present fairly in all material respects the financial position and change in financial position of the governmental activities, each major fund and the aggregate remaining funds • Unmodified Opinion on Single Audit Compliance • Child Nutrition Program • Minnesota Legal Compliance • Public purpose criteria for expenditures • Amount of pledged collateral

  3. Audit Findings and Recommendations Lack of Segregation of Accounting Duties

  4. General Education Aid

  5. Resident ADM

  6. Resident ADM (Continued)

  7. Average Daily Membership and Pupil Units

  8. Students Served - PUN

  9. Students Served – PUN (Continued)

  10. Change in Resident ADM and Weighted/Adjusted ADM Served

  11. General Fund Budget and Actual

  12. General Fund Sources of Revenue

  13. General Fund Expenditures

  14. General Fund Expenditure Allocation

  15. Revenues per ADM Served

  16. Expenditures per ADM Served

  17. General Fund Operations

  18. General Fund Financial Position

  19. Unrestricted Fund Balance as of Unrestricted Expenditures

  20. Long Term Debt

  21. Long Term Debt (Continued)

  22. District’s Tax Levies

  23. District’s Tax Capacity Rate

  24. Net Tax Capacity, Levy, and Tax Capacity Rate

  25. Referendum Tax Rate and Referendum Market Value

  26. Food Service Fund

  27. Community Service Fund

  28. Questions? Matthew Mayer (952) 563-6873 Thank you!

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