HomeMy WebLinkAbout2016 Bonneville School District Audit
Bonneville Joint School District #93
Financial Statements and
Supplementary Information
Year ended June 30, 2016
Bonneville Joint School District #93
Contents
June 30, 2016
i
INDEPENDENT AUDITOR’S REPORT .......................................................................................................... 1-2
MANAGEMENT’S DISCUSSION & ANALYSIS ........................................................................................... 3-9
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position ............................................................................................................................ 10
Statement of Activities ................................................................................................................................ 11
Fund Financial Statements
Combined Balance Sheet
Governmental Funds .................................................................................................................................... 12
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position .................................................................................................................. 13
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances ............................... 14-15
Reconciliation of the Governmental Funds Revenues, Expenditures, and Changes
in Fund Balances to the Statement of Activities .......................................................................................... 16
Fiduciary Funds
Statement of Fiduciary Net Position ............................................................................................................ 17
Notes to Financial Statements ...................................................................................................................... 18-34
REQUIRED FINANCIAL INFORMATION
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual .......................................................................................................................................... 35-36
Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual ................................................................................................................................................ 37
Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual ................................................................................................................................................ 38
Required Supplementary Information ................................................................................................................ 39
Notes to Required Supplementary Information ................................................................................................. 40
Bonneville Joint School District #93
Contents
June 30, 2016
ii
OTHER FINANCIAL INFORMATION
All Nonmajor Funds
Combining Balance Sheet .................................................................................................................................. 41
All Nonmajor Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balance ........................................... 42
All Agency Funds
Combining Statement of Changes in Assets and Liabilities ........................................................................ 43-44
Taxes Receivable ......................................................................................................................................... 45-46
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 ........................................... 47-48
Independent Auditor’s Report on Compliance for Each Major
Federal Program and Report on Internal Control over
Compliance Required by the Uniform Guidance ......................................................................................... 49-50
Schedule of Findings and Questioned Costs ................................................................................................ 51-52
Schedule of Expenditures of Federal Awards .............................................................................................. 53-54
Notes to Schedule of Expenditures of Federal Awards ..................................................................................... 55
Summary Schedule of Prior Audit Findings ..................................................................................................... 56
1
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, 2016, and the related notes to the financial statements, which collectively comprise the District’s
basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are
free from material misstatement, whether due to fraud 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 and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no
such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund, and the aggregate remaining fund information
of Bonneville Joint School District #93, as of June 30, 2016, and the respective changes in financial position for
the year then ended in accordance with accounting principles generally accepted in the United States.
2
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States 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 3 through 9 and pages 35 through 40 be
presented to supplement the basic financial statements. Such information, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate operational,
economic, or historical context. We have applied certain limited procedures to the required supplementary
information in accordance with auditing standards generally accepted in the United States, which consisted of
inquiries of management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge
we obtained during our audit of the basis financial statements. We do not express an opinion or provide any
assurance on the information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
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 accompanying supplementary information, such as the
combining and individual nonmajor fund financial statements, the 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), 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, other schedules listed in the table of contents, and the schedule of expenditures of
federal awards are the responsibility of management and was derived from and relate directly to the underlying
accounting and other records used to prepare the basic financial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other records
used to prepare the basic financial statements or to the basic financial statements themselves, and other additional
procedures in accordance with auditing standards generally accepted in the United States. In our opinion, the
combining and individual nonmajor fund financial 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 31, 2016, 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.
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 31, 2016
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2016
3
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, 2016. 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 2016 are as follows:
In total, net position increased $3,582,661 which represents a 20% increase from 2015 restated balance of
$17,514,097.
General revenues accounted for $65,363,165 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 $17,265,068 or 21% of total revenues of $82,628,233.
Total assets of governmental activities increased by $61,046,226, as cash and cash equivalents increased by
$62,723,196, receivables and prepaid expenses increased by $83,451, inventory decreased by $9,853, and capital
assets decreased by $1,750,568. 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
$810,426.
The District had $79,045,572 in expenses; only $17,265,068 of these expenses were offset by program specific
charges for services, grants, or contributions. General revenues (primarily state support and local property taxes)
of $65,363,165 were adequate to provide for these programs.
Among major funds, the General Fund had $59,579,293 in revenues, and $58,713,848 in expenditures. The
General Fund’s fund balance increased $627,396 from 2015.
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, 2016
4
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 2016?” The Statement of Net Position and the Statement of Activities answer this question.
These statements include all assets and liabilities using the accrual basis of accounting similar to the accounting
used by most private-sector companies. This basis of accounting takes into account all of the current year’s
revenues and expenses regardless of when cash is received or paid.
These two statements report the District’s net assets and changes in those assets. This change in net position is
important because it tells the reader that, for the District as a whole, the financial position of the District has
improved or diminished. The causes of this change may be the result of many factors, some financial and some
not. Nonfinancial factors include the District’s property tax base, current property tax laws in Idaho restricting
revenue growth, facility condition, required educational programs, and other factors.
In the Statement of Net Position and the Statement of Activities, the District reports governmental activities.
Governmental activities are the activities where most of the District’s programs and services are reported
including, but not limited to, instruction, support services, operation and maintenance of plant, pupil,
transportation, and extracurricular activities. The District does not have any business type activities.
REPORTING THE DISTRICT’S MOST SIGNIFICANT FUNDS
Fund Financial Statements
The analysis of the District’s major funds begins on page 12. Fund financial reports provide detailed information
about the District’s major funds. The District uses many funds to account for a multitude of financial transactions.
However, these fund financial statements focus on the District’s most significant funds. The District’s major
governmental funds are the General, Debt Service, Capital Projects, and Construction 2016 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, 2016
5
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 2016 compared to 2015:
2016
2015
(as restated)
Assets
Current and other assets 93,808,142 31,011,348
Capital assets 74,724,613 76,475,181
Total assets 168,532,755 107,486,529
Deferred outflows of resources 14,322,269 4,955,790
Current and other liabilities 11,235,695 9,821,600
Long-term liabilities 139,363,455 72,041,119
Total liabilities 150,599,150 81,862,719
Deferred inflows of resources 11,159,116 13,065,503
Net investment in capital assets 18,775,611 15,294,016
Restricted 14,627,209 15,336,569
Unrestricted (12,306,062)(13,116,488)
Total net position 21,096,758 17,514,097
Total assets of governmental activities increased by $61,046,226, as cash and cash equivalents increased by
$62,723,196, receivables and prepaid expenses increased by $83,451, inventory decreased by $9,863, and capital
assets decreased by $1,750,568. The District’s assets and deferred outflows of resources exceeded liabilities and
deferred inflows of resources by $21,096,758 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 $810,426 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, 2016
6
The following table shows the changes in net position for fiscal years 2016 and 2015:
2016
2015
(as restated)
Revenues
Program revenues
Charges for services 3,827,129 3,502,436
Operating grants and contributions 13,437,939 12,506,244
General revenues
Property taxes 13,471,824 12,760,705
State aid 49,751,749 47,465,180
Federal aid 11,991 12,762
Other 2,127,601 1,526,564
Total revenues 82,628,233 77,773,891
Program expenses
Instruction 41,986,395 40,491,728
Support services 11,770,282 9,914,037
Administrative 6,471,485 5,742,720
Business admin services 1,303,142 1,144,258
Operations 7,204,251 6,842,266
Transportation 3,062,749 2,795,855
Other support services 74,317 74,186
Community service 187,377 178,845
Noninstructional 3,753,903 3,495,601
Interest and fiscal charges 2,343,337 2,255,009
Capital improvements 888,334 280,243
Total expenses 79,045,572 73,214,748
Increase in net position 3,582,661 4,559,143
GOVERNMENTAL ACTIVITIES
Governmental revenues come primarily from three sources. State aid of $59,408,826 consists of the state
apportionment, other state grants, and revenue in lieu of taxes, and makes up 71.9% of revenues from
governmental activities. Property taxes of $13,471,824 make up 16.3% of total revenues from governmental
activities. Federal grants and assistance of $6,730,516 make up 8.14% of total revenues from governmental
activities.
Instruction expenditures including the support activities of support services, administrative, business admin
services, operations, and transportation comprise $71,798,304 of District expenses.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2016
7
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 2016 Services 2016
Instruction 53.13 41,986,395 38,015,597
Support services 14.89 11,770,282 7,081,235
Administrative 8.19 6,471,485 6,270,531
Business admin services 1.65 1,303,142 1,138,738
Operations 9.11 7,204,251 6,110,639
Transportation 3.87 3,062,749 1,007,412
Other support services .09 74,317 (224)
Community service .24 187,377 39,642
Non-instructional 4.75 3,753,903 129,506
Interest and fiscal charges 2.96 2,343,337 1,311,917
Capital improvements 1.12 888,334 675,511
Total expenses 100 79,045,572 61,780,504
Instruction: Instruction expenses include activities directly dealing with the teaching of pupils and the interaction
between teacher and pupil.
Support Services: Support Services provide personnel services, activities, and programs for the administration,
management, technical, and logistical support to facilitate and enhance the function of instruction and shall
provide for the general operation of the schools.
Administration: The personnel, activities, and services for directing and managing the operation of the schools in
the District. (Principals, assistant principals, secretaries, and clerks 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.
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.
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.
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2016
8
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.
Interest and Fiscal Charges: Interest and fiscal charges involve the transactions associated with the payment of
interest and other related charges to the debt of the District.
Capital Improvements: Capital Improvements include capital expenditures for the schools that are not capitalized
under the District’s capitalization policy.
THE DISTRICT’S FUNDS
Information about the District’s major funds starts on page 12. These funds are accounted for using the modified
accrual basis of accounting. All governmental funds had total revenues of $82,708,907 and expenditures of
$84,384,707. The net change in fund balance for the year in the General Fund, Debt Service Fund, Capital
Projects Fund and Construction 2016 Fund, was an increase of $627,396 a decrease of $430,910 and increase of
$5,430 and an increase of $61,996,346 respectively.
GENERAL FUND BUDGETING HIGHLIGHTS
During the course of the fiscal 2016 year, the District did not amend its budget.
For the General Fund, the budgeted revenue was $58,777,408 and the budgeted expense was $58,484,410. Actual
revenue was $59,579,293 which includes $601,772 for leadership premiums to qualifying personnel and $303,845
in professional development funds. Actual expenditures were $58,713,848, which include expenditures related to
the leadership premiums and professional development.
CAPITAL ASSETS
At the end of the fiscal year 2016, the District had $74,724,613 invested in land, buildings, furniture and
equipment, and vehicles (net of accumulated depreciation).
2016 2015
Non-depreciable assets 7,884,449 6,414,620
Buildings and improvements 64,143,090 67,448,015
Equipment 1,318,302 1,457,420
Vehicles 1,378,772 1,155,126
Total capital assets, net 74,724,613 76,475,181
Overall capital assets decreased $1,750,568 from fiscal year 2015 to fiscal year 2016. 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, 2016
9
DEBT ADMINISTRATION
At June 30, 2016, the District had five general obligation bond issues as follows:
Total
Due within
one year
2009 Series Bond 1,730,000130,000
2012A Series Bond 11,780,000
2012C Series Bond 14,970,0002,320,000
2016A Series Bond 54,090,0001,175,000
2016B Series Bond 20,775,000
Total 103,345,0003,625,000
At June 30, 2016, the District’s overall legal debt margin was $75,780,440.
CURRENT FINANCIAL ISSUES AND CONCERNS
The Bonneville Joint School District #93 continues to be financially stable. In Fiscal Year 2016, 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 2015-2016 and increased enrollment in the District.
For 2015-2016 the state legislature appropriated an increase of over 7% to the public education budget. Included
in this appropriation was continued funding for the “career ladder”. This appropriation 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 passed a bond in November 2015 for the construction of a new high school. Construction
began in June of 2016, and is expected to be completed in time for the FY 18 school year. The District’s fifteen-
year facility plan anticipates the need for a middle school and three elementary schools. The fifteen-year plan is
reviewed often and updated with current information as it becomes available.
COMPONENT UNIT
The financial statements do not include the Bonneville Education Foundation, a component unit of the District.
The financial information for the Foundation will be available at the District office.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, investors, and creditors with a general
overview of the District’s finances and to show the District’s accountability for the money it receives. If you have
questions about this report or need additional financial information contact Guy Wangsgard, Chief Financial/
Operations Officer, at Bonneville Joint School District #93, 3497 North Ammon Road, Idaho Falls, Idaho 83401
or email at GuyW@d93.k12.id.us.
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Statement of Net Position
Governmental
Activities
ASSETS
Cash and investments83,660,424
Property tax receivable, net5,307,734
Other receivables 4,718,144
Supplies inventory 107,498
Prepaid expenses 14,342
Land and construction in progress7,884,449
Depreciable buildings, equipment, and vehicles, net of depreciation66,840,164
Total assets 168,532,755
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding2,647,275
Related to pensions 11,674,994
Total deferred outflows of resources14,322,269
LIABILITIES
Accounts payable 1,095,523
Accrued wages 5,891,968
Accrued employee benefits2,933,326
Interest payable 1,314,878
Long-term liabilities
Net pension liability17,300,573
Premium on bonds payable17,247,623
Portion due or payable within one year
General obligation bonds3,625,000
Other liabilities 165,846
Portion due or payable after one year
General obligation bonds99,720,000
Other liabilities 1,304,413
Total liabilities 150,599,150
DEFFERED INFLOWS OF RESOURCES
Related to pensions 11,159,116
Total deferred inflows of resources11,159,116
NET POSITION
Net investment in capital assets18,775,611
Restricted for
Capital improvements5,312,637
Debt service 8,831,626
Child nutrition 482,946
Unrestricted (12,306,062)
Total net position21,096,758
Bonneville Joint School District #93
June 30, 2016
The accompanying notes are an integral part of these statements.
10
Statement of Activities
Fiscal Year Ended June 30, 2016
Net (expense)
revenue and
changes in
Program Revenues net position
OperatingCapitalTotal
Charges forgrants and grants andgovernmental
Functions / ProgramsExpensesservicescontributionscontributionsactivities
Governmental activities
Instruction 41,986,395370,7883,600,010(38,015,597)
Support services11,770,2822,054,7032,634,344(7,081,235)
Administrative6,471,485200,954(6,270,531)
Business admin services1,303,142164,404(1,138,738)
Operations7,204,251139,719953,893(6,110,639)
Transportation3,062,749114,1541,941,183(1,007,412)
Other support services74,31774,541224
Community service187,37785,88561,850(39,642)
Noninstructional3,753,903860,3992,763,998(129,506)
Interest on long-term debt2,343,3371,031,420(1,311,917)
Capital improvements888,334201,48111,342(675,511)
Total governmental activities79,045,5723,827,12913,437,9390(61,780,504)
General revenues
Taxes
Property taxes13,471,824
Property tax replacement249,029
Federal grants11,991
State aid - formula grants49,751,749
Other state revenues459,941
Unrestricted investments earnings36,339
Other local1,382,292
Total general revenues65,363,165
Change in net position3,582,661
Net position - beginning (as restated)17,514,097
Net position - ending21,096,758
Bonneville Joint School District #93
The accompanying notes are an integral part of these statements.
11
Bonneville Joint School District #93
Combined Balance Sheet
Governmental Funds
June 30, 2016
AllTotal
DebtCapitalConstructionNonmajorGovernmental
GeneralServiceProjects2016FundsFunds
ASSETS
Cash and investments8,364,0946,020,7734,598,71062,353,2902,323,55783,660,424
Receivables 0
Taxes - current1,262,5302,534,2431,015,515 0 4,812,288
Taxes - delinquent127,512276,61091,324 0 495,446
State apportionment2,366,832 00002,366,832
Federal grants 1,471,7211,471,721
Other 0000879,591879,591
Interfund receivable1,213,491 00001,213,491
Supplies inventory 0000107,498107,498
Prepaid expenses14,342 000014,342
Total assets13,348,8018,831,626 5,705,54962,353,2904,782,36795,021,633
LIABILITIES
Accounts payable134,926 0 392,912356,944210,7411,095,523
Accrued wages5,278,822 000613,1465,891,968
Accrued employee benefits2,529,525 000403,8012,933,326
Interfund payable 00001,213,4911,213,491
Total liabilities7,943,2730392,912356,9442,441,17911,134,308
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue127,512276,61091,32400495,446
FUND BALANCES
Nonspendable
Inventory 000 107,498107,498
Prepaid expenses14,34214,342
Restricted for 0
Debt service8,555,0168,555,016
Child nutrition 0000375,448375,448
Other fund activities5,221,31361,996,3461,136,97668,354,635
Assigned1,234,443721,2661,955,709
Unassigned4,029,231 0 4,029,231
Total fund balances5,278,0168,555,0165,221,31361,996,3462,341,18883,391,879
Total liabilities, deferred inflows
of resources, and fund balances13,348,8018,831,6265,705,54962,353,2904,782,36795,021,633
The accompanying notes are an integral part of these statements.
12
83,391,879
(14,600,348)
(16,784,695)
74,724,613
495,446
Long-term liabilities at year end consisted of:
Bonds payable(103,345,000)
Accrued interest on the bonds(1,314,878)
Compensated absences(165,846)
OPEB obligation(1,304,413)
(106,130,137)
Total net position - governmental activities 21,096,758
AmountsreportedforgovernmentalactivitiesintheStatementofNetPosition
are different because:
Governmentalfundsreporttheeffectofpremiums,discountsandsimilar
itemswhenthebondsarefirstissuedbytheDistrictwhereastheseamounts
are deferred and amortized in the Statement of Activities.
Long-termliabilities,includingbondspayable,arenotdueandpayableinthe
current period and therefore are not reported as liabilities in the funds.
Capitalassetsusedingovernmentalactivitiesarenotcurrentfinancial
resourcesandthereforearenotreportedasassetsingovernmentalfunds.The
costoftheassetsis$139,323,665andtheaccumulateddepreciationis
$64,599,052.
Propertytaxesreceivablewillbecollectedthisyearbutarenotavailablesoon
enoughtopayforthecurrentperiod'sexpenditures,andthereforeare
unearned in the funds.
Thenetpensionliability(asset)andthedeferredoutflowsofresourcesand
deferredinflowsofresourcesrelatedtopensionsareonlyreportedinthe
StatementofNetPosition.Netpensionliability(asset)is$17,300,573,
deferredinflowsofresourcesrelatedtopensionsis$11,159,116,anddeferred
outflows of resources related to pensions is $11,674,994.
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2016
Total fund balances - governmental funds
The accompanying notes are an integral part of these statements.
13
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2016
AllTotal
DebtCapitalConstructionNonmajorGovernmental
GeneralServiceProjects2016FundsFunds
REVENUES
Property taxes3,566,7957,056,0422,844,980 0 13,467,817
Penalties and interest
on delinquent taxes29,00136,86818,812 0 84,681
Earnings on investments36,339 00196,5394,942237,820
Food service 0000860,399860,399
Rental17,514 000 17,514
Other local1,470,398 0 92,808 0 338,1281,901,334
State apportionment
Base43,974,989 000 43,974,989
Transportation1,941,183 000 1,941,183
Exceptional child72,450 000 72,450
Benefits5,776,760 000 5,776,760
Property tax replacement249,029 000 249,029
Other state revenue2,444,8351,031,420 003,918,1607,394,415
Federal grants and assistance 00006,730,5166,730,516
Total revenues59,579,2938,124,3302,956,600196,53911,852,14582,708,907
EXPENDITURES
Current
Instruction35,489,989 0 58,239 0 3,296,21538,844,443
Support services7,497,415 0 601,509 0 3,783,43011,882,354
Administration6,200,857 0 213,585 0 141,5096,555,951
Business operations807,125 0 331,613 0 164,4041,303,142
Operations5,917,451 0 872,259 0 179,2336,968,943
Transportation2,689,295 0 627,551 0 1,2933,318,139
Other support services 000074,54174,541
Community services111,716 00075,661187,377
Noninstructional 00003,871,2523,871,252
Debt service 0 8,557,027 00 8,557,027
Debt issue costs 0 49,312 0 111,988161,300
Facility acquisition 00564,9851,705,160390,0932,660,238
Total expenditures58,713,8488,606,3393,269,7411,817,14811,977,63184,384,707
Revenues over (under) expenditures 865,445(482,009)(313,141)(1,620,609)(125,486)(1,675,800)
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, 2016
AllTotal
Debt Capital ConstructionNonmajorGovernmental
GeneralServiceProjects2016FundsFunds
OTHER FINANCING
SOURCES (USES)
General obligation bonds issued54,090,00054,090,000
Refunding bonds issued20,775,00020,775,000
Premium on bonds issued3,873,3749,526,95513,400,329
Payment to refunded bond escrow agent(24,597,275)(24,597,275)
Operating transfers, net(238,049)0 318,571 0 (80,522)0
Total other financing sources (uses)(238,049)51,099318,57163,616,955(80,522)63,668,054
Revenues and other financing sources
over (under) expenditures627,396(430,910)5,43061,996,346(206,008)61,992,254
Fund balance - July 1, 20154,650,6208,985,9265,215,883 0 2,547,19621,399,625
Fund balance - June 30, 20165,278,0168,555,0165,221,31361,996,3462,341,18883,391,879
The accompanying notes are an integral part of these statements.
15
Total net change in fund balances - governmental funds:61,992,254
(9,874,183)
(1,750,568)
(80,674)
(46,890,000)
714,713
(528,881)
Change in net position of governmental activities 3,582,661
AmountsreportedforgovernmentalactivitiesintheStatementofActivitiesaredifferent
because:
Governmentalfundsreporttheeffectofpremiums,discounts,andsimilaritemswhendebtis
issuedwhereastheseamountsaredeferredandamortizedinthestatementofactivities.This
amount is the net effect of these differences.
Bonneville Joint School District #93
For Fiscal Year Ended June 30, 2016
Reconciliation of the Governmental Funds Revenues, Expenditures, and Changes
in Fund Balances to the Statement of Activities
Capitaloutlaysarereportedingovernmentalfundsasexpenditures.However,inthe
StatementofActivities,thecostofthoseassetsisallocatedovertheirestimatedusefullives
as depreciation expense. This is the amount by which depreciation exceeded capital outlays.
BecausesomepropertytaxeswillnotbecollectedforseveralmonthsaftertheDistrict's
fiscalyearends,theyarenotconsidered'available'revenuesinthegovernmentalfunds.
Unearned tax revenues decreased by $80,674 this year.
Interestonlong-termdebtintheStatementofActivitiesdiffersfromtheamountreportedin
thegovernmentalfundsbecauseinterestisrecognizedasanexpenditureinthefundwhenit
isdue,andthusrequirestheuseofcurrentfinancialresources.IntheStatementof
Activities,however,interestexpenseisrecognizedastheinterestaccrued,regardlessof
whenitisdue.TheincreaseininterestexpensereportedintheStatementofActivitiesisthe
net result of the increase in accrued interest on bonds by $528,881.
Governmentalfundsreportbondproceedsascurrentfinancialresources.Incontrast,the
StatementofActivitiestreatssuchissuanceofdebtasaliability.Governmentalfundsreport
repaymentofbondprincipalasanexpenditure.Incontrast,theStatementofActivities
treatssuchrepaymentsasareductioninlongtermliabilities.Thisistheamountbywhich
proceeds exceeded repayments.
Vestedemployeebenefitsarereportedinthegovernmentalfundswhenamountsarepaid.
TheStatementofActivitiesreportsthevalueofbenefitsearnedduringtheyear.Changein
OPEBobligation($88,512).Changeinnetpensionliability($7,809,563).Changein
deferredoutflowsofresourcesrelatedtopensions$6,719,204.Changeindeferredinflows
of resources related to pensions ($13,065,503). Change in compensated absences ($12,803).
The accompanying notes are an integral part of these statements.
16
Agency
Funds
ASSETS
Cash 828,527
Investments 447,823
Total assets 1,276,350
LIABILITIES
Accounts payable 76,597
Due to student groups1,199,753
Total liabilities 1,276,350
Bonneville Joint School District #93
Fiduciary Funds
Statement of Fiduciary Net Position
June 30, 2016
The accompanying notes are an integral part of these statements.
17
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Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
18
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1. General. The basic financial statements listed in the table of contents have been prepared in accordance with
the American Institute of Certified Public Accountants’ Industry Audit Guide for Audits of State and Local
Government Units.
2. Reporting Entity. The Bonneville Joint School District #93 (the District) is the basic level of government,
which has financial accountability and control over all activities related to the public school education in the
area served. The District receives funding from local, state, and federal government sources and must
comply with the requirements of these funding source entities. The District is not included in any other
governmental “reporting entity” as defined by GASB pronouncement, since Board members are elected by
the public and have decision making authority, the authority to levy taxes, the power to designate
management, the ability to significantly influence operations, and primary accountability for fiscal matters.
3. Discretely Presented Component Unit. The Bonneville Joint School District #93 Education Foundation (the
Foundation) is responsible for fund raising to support the District. The Board of the Foundation is appointed
by the District and is accountable to the District. The Foundation is a non-profit organization and is
presented on the accrual basis of accounting. The District has elected not to include the Foundation at June
30, 2016 as it is immaterial to the District.
Complete financial information for the component unit may be obtained at the District’s administrative
office.
4. Government-wide and Fund Financial Statements. The government-wide financial statements (i.e., the
Statement of Net Position and the Statement of Activities) report information on all of the non-fiduciary
activities of the District. For the most part, the effect of interfund activity has been removed from these
statements.
The Statement of Activities demonstrates the degree to which the direct expenses of a given function are
offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function.
Program revenues include (1) charges to customers or applicants who purchase, use, or directly benefit from
goods, services, or privileges provided by a given function, and (2) grants and contributions that are
restricted to meeting the operational or capital requirements of a particular function. Taxes and other items
not included among program revenues are reported as general revenues.
Separate financial statements are provided for governmental funds and fiduciary funds, even though the
latter are excluded from the government-wide financial statements. Major individual governmental funds are
reported as separate columns in the fund financial statements.
5. Fund Accounting. The District uses funds to report on its financial position and results of its operations.
Fund accounting is designed to demonstrate legal compliance and to aid financial management by
segregating transactions related to certain government functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. Funds are classified into three
categories: governmental, proprietary, and fiduciary. The emphasis of fund financial statements is on major
governmental funds, each reported in a separate column. All remaining governmental funds are aggregated
and reported as nonmajor funds. Major individual governmental funds are reported as separate columns in
the fund financial statements.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
19
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
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.
6. Basis of Accounting. The District applies the provisions of GASB Statement No. 34, Basic Financial
Statements and Management’s Discussion and Analysis for State and Local Governments. This Statement is
meant to present the information in a format more closely resembling that of the private sector and to provide
the user with more managerial analysis regarding the financial results and the District’s financial outlook.
Government-wide Financial Statements
The government-wide financial statements (Statement of Net Position and Statement of Activities) display
information about the reporting government as a whole. These statements include all the financial activities
of the District, except for its fiduciary funds. Generally, the effect of material interfund activity has been
removed from the government-wide financial statements.
The Statement of Activities demonstrates the degree to which the direct expenses of given functions are
offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function.
Program revenues include charges to customers or applicants who purchase, use, or directly benefit from
goods, services, or privileges provided by a given function and grants and contributions that are restricted to
meeting the operational or capital requirements of a particular function. Taxes and other internally directed
revenues are reported instead as general revenues.
The government-wide financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a
liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues
in the year for which they are levied. Grants and similar items are recognized as revenue as soon as
eligibility requirements imposed by the provider have been met.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
20
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
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).
Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred
and all other eligibility requirements have been met, and the amount is received during the period or within
the availability period for this revenue source (within 60 days of year end). All other revenue items are
considered to be measurable and available only when cash is received by the government.
7. Budgets. Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual
appropriated budgets are adopted for the general, special revenue, debt service, and capital projects funds.
All annual appropriations lapse at fiscal year-end. The District did not amend their budget for the 2015-2016
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 assigned fund balance to indicate an obligation
to the District.
The District budgets transfers from the General Fund to other funds to cover the costs incurred by these
funds in excess of the revenues generated. Certain indirect costs are charged to several Special Revenue
Funds through budgeted transfers from the Special Revenue Funds to the General Fund.
8. Cash and Investments. Cash includes amounts in demand as well as short-term investments with a maturity
date within three months of the date acquired by the District. The District pools cash of all funds into
common bank accounts. The accounting records of each fund reflect its interest in the pooled cash. Any
deficiencies in cash of individual funds represent liabilities to other funds for cash borrowed. Under state
law, the District may deposit funds in demand deposits, interest-bearing demand deposits, or time deposits
with state banks organized under Idaho Law, and national banks having their principal offices in Idaho.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
21
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
State statutes authorize the District to invest in obligations of the U.S. Treasury, commercial paper, corporate
bonds, and repurchase agreements. The District has elected to deposit cash in excess of immediate needs into
the Local Government Investment Pool (LGIP). The LGIP 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.
Credit risk is the risk that an issuer of debt securities or another counterparty to an investment will not fulfill
its obligation and is commonly expressed in terms of the credit quality rating issued by nationally recognized
statistical rating organization such as Moody’s, Standard & Poor’s, and Fitch’s. The investments of the
District are not rated and the District’s policy does not restrict them to rated investments.
9. Short-term Interfund Receivables / Payables. During the course of operations, numerous transactions occur
between individual funds and the General Fund for goods provided or services rendered. These receivables
and payables are classified as ‘due from other funds’ or ‘due to other funds’ on the balance sheet.
10. Inventories. Supplies inventory consists of paper, food, new textbooks, and other supplies and equipment
received at the end of the fiscal year, which had not yet been consumed. The cost is recorded as an
expenditure at the time the item is consumed. Inventories are stated at cost on a first-in, first-out basis, which
approximates market. Other supplies inventory on hand at year-end has not been recorded as inventory and
was treated as expended when purchased.
11. Capital Assets. Capital assets, including land, buildings, improvements, and equipment assets are reported in
the applicable governmental columns in the government-wide financial statements. Capital assets are defined
by the District as assets with an initial, individual cost of more than $10,000 and an initial useful life of one
year or greater. Such assets are recorded at historical cost if purchased or constructed. Donated capital assets
are recorded at estimated fair value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the
life of the asset are not capitalized. Buildings, improvements, and equipment assets are depreciated using the
straight-line depreciation method over the following estimated useful lives:
Years
Buildings 30
Equipment 3-15
Vehicles 3-8
12. Compensated Absences. Employees are entitled to certain compensated absences based on their length of
employment. The entire compensated absences owed are reported in the governmental-wide financial
statement.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
22
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
13. 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.
14. 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 two items that qualify for reporting in this category and both occur on the government-wide
statement of net position. The first item is a deferred charge on refunding that results from the difference in
the carrying value of refunded debt and its reacquisition price and is amortized over the shorter of the life of
the refunded or refunding debt. The District also reports deferred outflows of resources related to pensions
for its proportionate shares of collective deferred outflows of resources related to pensions and District
contributions to pension plans subsequent to the measurement date of the collective net pension liability
(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.
15. 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.
16. 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, 2016
23
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
17. 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.
18. 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.
19. 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, 2016
24
NOTE B CASH AND INVESTMENTS
At June 30, 2016, the carrying amount was $11,983,910 and the bank balance of the District’s deposits was as
follows:
Bank Balance
Insured by Federal Depository Insurance 750,000
Uninsured and uncollateralized 12,580,130
Totals 13,330,130
At June 30, 2016, 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 72,810,436 72,948,907 86 Days
Total investments 72,810,436 72,948,907
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, 2016, $12,580,130 of the District’s deposits and certificates of deposit were exposed to custodial credit risk
because it was uninsured and uncollateralized. Of the investments, $72,810,436 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, 2016
25
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, 2016, balances of interfund amounts receivable or payable have been
recorded. The interfund balances at June 30, 2016, were as follows:
ReceivablePayable
General Fund 1,213,491
Nonmajor Funds 1,213,491
Total 1,213,4911,213,491
The General Fund transferred $77,252 to Child Nutrition and $318,571 to Plant Facilities as required by State
law. The federal programs transferred $157,774 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 $314,737 USDA Commodities during the 2015-2016 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, 2016, the limit for the District was 5% of $3,411,408,509 or
$170,570,425. The debt service fund had $8,555,015 available and the general obligation debt was $103,345,000
leaving a legal debt margin of $75,780,440.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
26
NOTE G CAPITAL ASSETS
Following is a summary of the capital assets at June 30, 2016:
Balance Balance
June 30, 2015 Additions Deletions Transfers June 30, 2016
Capital assets, not being depreciated
Land
Elementary 2,986,916 2,986,916
Secondary 3,107,374 3,107,374
Construction in progress 320,3301,839,159(218,255) (151,075) 1,790,159
Total capital assets, not being 6,414,6201,839,159(218,255) (151,075) 7,884,449
Capital assets, being depreciated
Buildings
Elementary 70,865,59640,000 70,905,596
Secondary 44,962,860111,000 151,075 45,224,935
Administration 4,489,974 4,489,974
Total buildings 120,318,430151,0000 151,075 120,620,505
Equipment
Elementary 838,19262,118 900,310
Secondary 1,168,29925,117 1,193,416
Admin. 1,621,01724,050(57,900) 1,587,167
Total equipment 3,627,508111,285(57,900) 0 3,680,893
Vehicles 6,662,476611,216(135,874) 0 7,137,818
Total capital assets, being depreciated 130,608,414873,501(193,774) 151,075 131,439,216
Less accumulated depreciation for:
Buildings (52,870,415)(3,607,000) (56,477,415)
Equipment (2,170,088)(250,403)57,900 (2,362,591)
Vehicles (5,507,350)(387,570)135,874 (5,759,046)
Total accumulated depreciation (60,547,853)(4,244,973)193,774 0 (64,599,052)
Total capital assets being depreciated, net 70,060,561(3,371,472)0 151,075 66,840,164
Governmental activities capital assets, net 76,475,181(1,532,313)(218,255) 0 74,724,613
Depreciation expense was charged to the functions of the primary government as follows:
Governmental activities
Instruction 3,579,852
Operations 277,551
Transportation 387,570
Total depreciation expense – governmental activities 4,244,973
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
27
NOTE H GENERAL OBLIGATION BOND ISSUES
The District had five general obligation bond issues (2009, 2012A, 2012C, 2016A, and 2016B Series) outstanding
at the end of the year with interest rates ranging from 2.0 to 5.0 percent. The 2009 Series bonds are scheduled to
mature September of 2018. The 2012A and 2012C bonds are scheduled to mature September 2031 and September
2026, respectively. The 2016A and 2016 B are scheduled to mature September 2033 and September 2028,
respectively.
Future debt service requirements are as follows:
Fiscal Year Ended June 30, Total Interest Principal
2017 8,092,808 4,467,808 3,625,000
2018 9,237,663 4,342,663 4,895,000
2019 7,428,575 4,198,575 3,230,000
2020 7,582,725 4,082,725 3,500,000
2021 7,610,575 3,965,575 3,645,000
2022-2026 41,338,200 17,128,200 24,210,000
2027-2031 48,674,200 9,734,200 38,940,000
2032-2033 22,758,750 1,458,750 21,300,000
Total 152,723,496 49,378,496 103,345,000
Changes to bond principal payable and future interest payable are summarized as follows:
Principal
2012A
Series
2012C
Series
2016A
Series
2016B
Series
2009
Series
2007
Series
Combined
Total
Balances at July 1, 2015 11,780,000 14,970,00023,955,000 5,750,00056,455,000
Additions 54,090,00020,775,000 74,865,000
Reductions 22,225,000 5,750,00027,975,000
Balances at June 30, 2016 11,780,000 14,970,00054,090,00020,775,0001,730,000 0103,345,000
Interest to be Provided
Balances at July 1, 2015 8,831,049 4,054,82510,630,270 139,37423,655,518
Additions 29,992,4587,597,200 37,589,658
Reductions 587,599 648,85010,490,858 139,37411,866,681
Balances at June 30, 2016 8,243,450 3,405,97529,992,4587,597,200139,412 049,378,495
NOTE I CHANGES IN LONG-TERM LIABILITIES
Following is a summary of the changes in long-term debt for the year ended June 30, 2016:
Balance Balance Current
July 1, 2015 Additions DeductionsJune 30, 2016 Balance
Bonds payable 56,455,000 74,865,00027,975,000103,345,000 3,625,000
Premium on bonds 4,726,165 13,400,329878,87117,247,623
Employee benefits 1,368,944 101,3151,470,259 165,846
Total 62,550,109 88,366,64428,853,871122,062,882 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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
28
NOTE J DEFEASED DEBT
The District purchased U.S. Securities and deposited $24,597,274 to an irrevocable trust with an escrow agent to
provide for all future debt service payments on $21,950,000 of the 2009 Series bonds. As a result, $21,950,000 of
the 2009 Series bonds are defeased and the liability for those bonds has been removed from the government-wide
statement of net assets. The 2009 Series debt remains outstanding. The reacquisition price exceeded the net
carrying amount of the old debt by $2,647,275. This amount is being netted against the new debt and amortized
over the remaining life of the refunded debt, which is the same as the life of the new debt issued. This advance
refunding was undertaken to reduce total debt service payments over the next 13 years by $2,912,456 and resulted
in an economic gain of $2,536,725.
NOTE K PAYROLL EXPENDITURES AND RELATED LIABILITIES
Teacher contracts were signed for the period September 2015, through June 2016, to be paid over the twelve
months of September 2015, through August 2016. 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 2016 the District contributed approximately $8.1 million to the
plan for current premiums or approximately 87% of total premiums.
Plan members receiving benefits contributed approximately $1,194,350 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 2016 were as follows:
Medical Coverage
Single $664.05
No Spouse W/Child $882.30
No Spouse W/Children $1,027.90
W/Spouse $1,096.85
W/Spouse + Child $1,379.00
W/Spouse + Children $1,379.00
Dental Coverage Delta Dental Willamette Dental
Single $40.15 $43.61
No Spouse W/Child $70.50 $70.86
No Spouse W/Children $126.95 $110.14
W/Spouse $80.25 $70.86
W/Spouse + Child $146.80 $110.14
W/Spouse + Children $146.80 $110.14
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
29
NOTE L RETIREMENT HEALTHCARE PLAN, continued
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 for Bonneville Joint
School District #93’s Post-Retirement Healthcare Plan:
Annual required contribution 333,616
Interest on net OPEB obligation 51,676
Adjustment to annual required contribution (48,636)
Annual OPEB cost (expense) 336,656
Contributions made (248,144)
Increase in net OPEB obligation 88,512
Net OPEB obligation – beginning of year 1,215,901
Net OPEB obligation - end of year 1,304,413
Annual OPEB cost Percentage of OPEB cost contributed Net OPEB obligation
$336,656 74% $1,304,413
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.
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 $38.3 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
is presented as required supplementary information and presents 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.
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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
30
NOTE L RETIREMENT HEALTHCARE PLAN, continued
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 2015-2016 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.
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.
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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
31
NOTE N PENSION PLAN, continued
Member and Employer Contributions
Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of
covered compensation and earnings from investments. Contribution rates are determined by the PERSI Board
within limitations, as defined by state law. The Board may make periodic changes to employer and employee
contribution rates (expressed as percentages of annual covered payroll) if current rates are actuarially determined
to be inadequate or in excess to accumulate sufficient assets to pay benefits when due.
The contribution rates for employees are set by statute at 60% of the employer rate. As of June 30, 2015 it was
6.79% for general employees and 8.36% for police and firefighters. The employer contribution rate is set by the
Retirement Board and was 11.32% for general employees and 11.66 % for police and firefighters. The District’s
contributions were $4,338,975 for the year ended June 30, 2016.
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
At June 30, 2016, the District reported a liability for its proportionate share of the net pension liability. The net
pension liability was measured as of July 1, 2015, 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, 2015, the District’s proportion was
.013137973 percent.
For the year ended June 30, 2016, the District recognized pension expense of $3,522,859. At June 30, 2016, 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 2,073,967
Changes in assumptions or other inputs 630,060
Net difference between projected and actual earnings on
pension plan investments
6,367,092
9,085,149
Changes in the employer’s proportion and differences
between the employer’s contribution and the employer’s
proportionate contributions
338,867
District contributions subsequent to the measurement date 4,338,975
Total 11,674,994 11,159,116
$4,338,975 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, 2017.
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, 2014, the beginning of the measurement period
ended June 30, 2015 is 5.5 years and 5.6 years for the measurement period ended June 30, 2014.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
32
NOTE N PENSION PLAN, continued
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:
2016 (1,849,978)
2017 (1,849,978)
2018 (1,849,978)
2019 1,212,797
2020 (143,694)
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, 2015, actuarial valuation was determined using the following actuarial
assumptions, applied to all periods included in the measurement:
Inflation 3.25%
Salary increases 4.5 – 10.00%
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,
2015, is based on the results of an actuarial valuation for that date.
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.
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
33
NOTE N PENSION PLAN, continued
Even though history provides a valuable perspective for setting the investment return assumption, the System
relies primarily on an approach which builds upon the latest capital market assumptions. Specifically, the System
uses consultants, investment managers and trustees to develop capital market assumptions in analyzing the
System’s asset allocation. The assumptions and the System’s formal policy for asset allocation are shown below.
The formal asset allocation policy is somewhat more conservative than the current allocation of System’s assets.
The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to
expected long-term real returns and reflecting expected volatility and correlation. 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 Russell 3000 55.00% 6.90%
Developed Foreign Equities ACWI ex USA 15.00% 7.55%
*Arithmetic return
Actuarial Assumptions
Assumed Inflation – Mean 3.25%
Assumed Inflation – Standard Deviation 2.00%
Portfolio Arithmetic Mean Return 8.42%
Portfolio Long-Term Expected Geometric Rate of Return 7.50%
Assumed Investment Expenses 0.40%
Long-Term Expected Geometric 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) 42,137,91117,300,573 (3,348,379)
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2016
34
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.
Payables to the pension plan
At June 30, 2016, the District reported no payables to the defined benefit pension plan for legally required
employer contributions and for legally required employee contributions which had been withheld from employee
wages but not yet remitted to PERSI.
NOTE 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
During the year ended June 30, 2016, the District contracted with various contractors to do certain projects,
revisions, and additions. The following construction contracts were in progress at June 30, 2016:
Average Expenditures Remaining
Project
Original bid
plus changes
percent
complete
Recorded
Currently
construction
obligation
BHS Stair Replacement 121,41582%99,213 22,202
New High School – Phase 1 6,388,13526%1,690,946 4,697,189
Total 6,509,5501,790,159 4,719,391
NOTE Q PRIOR YEAR RESTATEMENT OF NET POSITION
As a result of an error in the amount of net pension liability included at June 30, 2015, the governmental activities
beginning net position was restated to subtract the increased net pension liability for PERSI of $3,953,835. The
restated beginning net position at July 1, 2015 after this adjustment is $17,514,097.
NOTE R SUBSEQUENT EVENTS
Management of the District evaluated subsequent events through October 31, 2016, which was the date the
financial statements were available to be issued. At that time the District was in negotiations with contractors to
complete the remaining phases of the new high school’s building project, the total estimated cost as of the date of
this report is $48,800,000. There were no other 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 taxes4,520,0003,566,795(953,205)
Penalties and interest on delinquent taxes25,00029,0014,001
Earnings on investments8,00036,33928,339
Tuition64,20046,651(17,549)
Rental20,00017,514(2,486)
Other local906,8711,423,747516,876
State apportionment
Base43,222,78743,974,989752,202
Transportation1,899,0201,941,18342,163
Exceptional child25,00072,45047,450
Benefits5,675,5415,776,760101,219
Property tax replacement248,117249,029912
Other state revenue2,162,8722,444,835281,963
Total revenues58,777,40859,579,293801,885
EXPENDITURES
Instruction
Elementary 16,029,63816,072,554(42,916)
Secondary14,279,22414,488,862(209,638)
Alternative school855,006839,49415,512
Special education program2,900,3143,228,372(328,058)
Special education preschool program206,438203,1513,287
Gifted and talented60,00054,0695,931
Interscholastic program492,013433,35358,660
School activity 179,294170,1349,160
Total instruction35,001,92735,489,989(488,062)
Support services
Attendance, guidance, and health1,675,3881,647,17228,216
Special education support services2,758,5562,608,145150,411
Instructional improvement1,125,5771,208,741(83,164)
Educational media477,844456,33621,508
Instruction related technology1,606,9671,577,02129,946
Total support services7,644,3327,497,415146,917
Fiscal Year Ended June 30, 2016
Bonneville Joint School District #93
-Budget to Actual-
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
See Independent Auditor's Report.
35
Favorable
(Unfavorable)
EXPENDITURES, continued Budget Actual Variance
Administration
Board of Education105,008111,522(6,514)
District administration1,847,2611,818,65828,603
School administration4,157,5554,270,677(113,122)
Total administration6,109,8246,200,857(91,033)
Business Administrative Services
Business operations645,392611,33034,062
Central services145,614123,36922,245
Administrative Technology Services89,20072,42616,774
Total business administrative services880,206807,12573,081
Operations
Building care (custodial)4,459,2334,232,422226,811
Maintenance1,391,7221,345,05346,669
Security344,798339,9764,822
Total operations6,195,7535,917,451278,302
Transportation2,610,2422,689,295(79,053)
Community service42,126111,716(69,590)
Total expenditures58,484,41058,713,848(229,438)
Revenues over (under) expenditures292,998865,445572,447
OTHER FINANCING SOURCES (USES)
Operating transfers, net(140,048)(238,049)(98,001)
Revenues and other financing sources
over (under) expenditures152,950627,396474,446
Fund balance - July 1, 20154,650,620
Fund balance - June 30, 20165,278,016
Fiscal Year Ended June 30, 2016
Bonneville Joint School District #93
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
See Independent Auditor's Report.
36
Favorable
(Unfavorable)
BudgetActualVariance
REVENUES
Property taxes7,900,5237,056,042(844,481)
Penalty and interest on delinquent taxes50,00036,868(13,132)
Earnings on investments 000
Other state revenue887,7561,031,420143,664
Total revenues8,838,2798,124,330(713,949)
EXPENDITURES
Debt service
Principal6,025,0006,025,0000
Interest2,532,0382,532,02711
Fees 0 49,312(49,312)
Total expenditures8,557,0388,606,339(49,301)
Revenues over (under) expenditures281,241(482,009)(664,648)
OTHER FINANCING
SOURCES (USES)
Refunding bonds issued 0 20,775,00020,775,000
Premium on bonds issued 0 3,873,3743,873,374
Payment to refunded bond escrow agent 0 (24,597,275)(24,597,275)
Total other financing sources (uses)051,09951,099
Revenues and other financing sources
over (under) expenditures 281,241(430,910)(712,151)
Fund balance - July 1, 20158,985,926
Fund balance - June 30, 20168,555,016
Bonneville Joint School District #93
Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2016
-Budget to Actual-
See Independent Auditor's Report.
37
Favorable
(Unfavorable)
BudgetActualVariance
REVENUES
Property taxes2,800,0002,844,98044,980
Penalties and interest on delinquent taxes 0 18,81218,812
Other local 0 92,80892,808
Total revenues2,800,0002,956,600156,600
EXPENDITURES
Instruction 8,50058,239(49,739)
Support services415,000601,509(186,509)
Administration20,000213,585(193,585)
Business administrative services384,600331,61352,987
Operations1,219,370872,259347,111
Transportation662,255627,55134,704
Facility acquisition446,500564,985(118,485)
Total expenditures3,156,2253,269,741(113,516)
Revenues over (under) expenditures (356,225)(313,141)43,084
OTHER FINANCING SOURCES (USES)
Operating transfers, net190,255318,571128,316
Revenues and other financing sources
over (under) expenditures (165,970)5,430171,400
Fund balance - July 1, 20155,215,883
Fund balance - June 30, 20165,221,313
Bonneville Joint School District #93
Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2016
-Budget to Actual-
See Independent Auditor's Report.
38
( a )( b )(b - a)(a / b)( c ) [(b - a) / c]
6/30/2016 - 2,819,069 2,819,069 - 38,322,048 7.36%
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%
20162015
Employer's portion of net pension liability 1.313797300%1.289265200%
Employers proportionate share of the net pension liability 17,300,5739,491,010
Employer's covered-employee payroll 38,322,04836,799,863
Employer's proportional share of the net pension liability as a percentage of
its coverd-employee payroll 45.15%25.79%
Plan fiduciary net position as a percentage of the total pension liability 94.95%94.95%
2016 Data reported is measured as of June 30, 2015 (measurement date).
20162015
Statutorily required contribution 4,296,1174,190,112
Contributions in relation to the statutorily required contribution4,338,9754,165,658
Contribution (deficiency) excess 42,858(24,454)
Employer's covered-employee payroll 38,322,04836,799,863
Contributions as a percentage of covered-employee payroll 11.3224%11.3198%
2016 Data reported is measured as of June 30, 2016.
Required Supplementary Information
Bonneville Joint School District #93
General Employees' Other Postemployment Benefits Plan
Fiscal Year Ended June 30, 2016
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 *
*GASBStatementNo.68requirestenyearsofinformationtobepresentedinthistable.However,untilafull10-
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 *
*GASBStatementNo.68requirestenyearsofinformationtobepresentedinthistable.However,untilafull10-
year trend is compiled, the District will present information for those years for which information is available.
See Independent Auditor's Report.
39
NOTE A BUDGET ADOPTION
NOTE BEXCESS OF ACTUAL EXPENDITURES OVER BUDGET
Bonneville Joint School District #93
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2016
Budgetsareadoptedonabasisconsistentwithgenerallyacceptedaccountingprinciples.Annual
appropriated budgets are adopted for the General Fund. All annual appropriations lapse at year end.
Actual expenditures exceeded budget for the General Fund, Debt Service Fund, and Capital Projects
Fund.
See Independent Auditor's Report.
40
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This page intentionally left blank.
BalanceBalance
ASSETS June 30, 2015ReceiptsDisbursementsJune 30, 2016
Cash
Bonneville High School 125,707750,119 771,902 103,924
Hillcrest High School 317,175869,752 960,878 226,049
Rocky Mountain Middle School 70,025156,652 170,983 55,693
Sandcreek Middle School 131,573155,805 136,308 151,070
Lincoln High School 39,97010,497 9,325 41,141
Ammon Elementary School 13,52211,083 11,459 13,145
Bridgewater Elementary 18,95823,373 33,441 8,890
Cloverdale Elementary School 13,51436,485 42,560 7,438
Discovery Elementary 36,96525,409 36,786 25,588
Fairview Elementary School 17,66317,249 20,538 14,374
Hillview Elementary School 42,91615,393 25,527 32,782
Falls Valley Elementary School 12,41224,328 26,467 10,273
Iona Elementary School 25,66227,640 32,321 20,981
Mountain Valley Elementary 20,79346,457 52,332 14,918
Rimrock Elementary School 24,06131,211 38,182 17,091
Summit Hills Elementary School 7,98550,539 35,919 22,605
Technical Careers High School 16,74971,671 72,238 16,182
Tiebreaker Elementary School 22,77921,913 25,730 18,962
Ucon Elementary School 12,04823,154 26,404 8,798
Woodland Hills Elementary School 30,57223,122 35,072 18,621
Total cash 1,001,0492,391,8522,564,374828,527
Investments
Bonneville High School 242,81216242,828
Hillcrest High School 184,25912184,271
Rocky Mountain Middle School 20,6863820,724
Sandcreek Middle School
Lincoln High School
Ammon Elementary School
Bridgewater Elementary
Cloverdale Elementary School
Discovery Elementary
Fairview Elementary School
Hillview Elementary School
Falls Valley Elementary School
Iona Elementary School
Mountain Valley Elementary
Rimrock Elementary School
Summit Hills Elementary School
Technical Careers High School
Tiebreaker Elementary School
Ucon Elementary School
Woodland Hills Elementary School
Total investments 447,757660447,823
Total assets1,448,8062,391,9182,564,3741,276,350
Bonneville Joint School District #93
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities
Fiscal Year Ended June 30, 2016
See Independent Auditor's Report.
43
BalanceBalance
LIABILITIES June 30, 2015IncreasesDecreasesJune 30, 2016
Accounts payable
Bonneville High School 67,30133,98433,317
Hillcrest High School 103,719100,2083,511
Rocky Mountain Middle School 13,52019,345(5,825)
Sandcreek Middle School (1,066)7,129(8,195)
Lincoln High School 5,2072,0483,159
Ammon Elementary School 46246508
Bridgewater Elementary 3,9189332,985
Cloverdale Elementary School 9,7183,4936,225
Discovery Elementary 15,8718,8387,033
Fairview Elementary School 4,4281,1273,301
Hillview Elementary School 10,3274,7175,610
Falls Valley Elementary School 6,8486,406442
Iona Elementary School 5,2615,055206
Mountain Valley Elementary 7,2417,17368
Rimrock Elementary School 5,7324,0491,683
Summit Hills Elementary School 4,32115,60419,925
Technical Careers High School 7,8657,85015
Tiebreaker Elementary School 7,1606,951209
Ucon Elementary School 6,9466,92125
Woodland Hills Elementary School 5,9873,5922,395
Total accounts payable 290,76615,650229,81976,597
Due to student groups
Bonneville High School 301,218750,135 737,918 313,435
Hillcrest High School 397,715869,764 860,670 406,809
Rocky Mountain Middle School 77,191156,690 151,638 82,242
Sandcreek Middle School 132,639155,805 129,179 159,265
Lincoln High School 34,76310,497 7,277 37,982
Ammon Elementary School 13,06011,037 11,459 12,637
Bridgewater Elementary 15,04023,373 32,508 5,905
Cloverdale Elementary School 3,79636,485 39,067 1,213
Discovery Elementary 21,09425,409 27,948 18,555
Fairview Elementary School 13,23517,249 19,411 11,073
Hillview Elementary School 32,58915,393 20,810 27,172
Falls Valley Elementary School 5,56424,328 20,061 9,831
Iona Elementary School 20,40127,640 27,266 20,775
Mountain Valley Elementary 13,55246,457 45,159 14,850
Rimrock Elementary School 18,32931,211 34,133 15,408
Summit Hills Elementary School 3,66434,935 35,919 2,680
Technical Careers High School 8,88471,671 64,388 16,167
Tiebreaker Elementary School 15,61921,913 18,779 18,753
Ucon Elementary School 5,10223,154 19,483 8,773
Woodland Hills Elementary School 24,58523,122 31,480 16,226
Total due to student groups 1,158,0402,376,2682,334,5551,199,753
Total liabilities 1,448,8062,391,9182,564,3741,276,350
Bonneville Joint School District #93
All Agency Funds
Combining Schedule of Changes in Assets and Liabilities
Fiscal Year Ended June 30, 2016
See Independent Auditor's Report.
44
2014
Total2015and prior
182,7340182,734
ADDITIONS
3,508,8493,508,846
(2,649)(1,484)(1,165)
3,506,2003,507,362(1,165)
DEDUCTIONS
2,298,8932,167,333131,560
1,262,5291,256,3536,176
3,561,4223,423,686137,736
127,51283,67643,833
Roll charges applicable to June 30, 2015
Subsequent additions and cancellations
Unearned balance at July 1, 2015
Total deductions
Unearned balance at June 30, 2016
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, 2016
Taxes Receivable
See Independent Auditor's Report.
45
20142014
Total2015and priorTotal2015and prior
280,4020280,402112,9840112,984
7,056,7697,056,7722,825,2252,825,226
(4,519)(2,985)(1,534)(1,906)(1,195)(711)
7,052,2507,053,787(1,534)2,823,3192,824,031(711)
4,521,7994,358,802162,9971,829,4641,745,07584,389
2,534,2432,526,6987,5451,015,5151,011,5803,935
7,056,0426,885,500170,5422,844,9792,756,65588,324
276,610168,287108,32691,32467,37623,949
Debt Service FundCapital Projects Fund
Bonneville Joint School District #93
Taxes Receivable
Fiscal Year Ended June 30, 2016
See Independent Auditor's Report.
46
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Single Audit Section
Bonneville Joint School District #93
June 30, 2016
47
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED
ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
Board of Trustees
Bonneville Joint School District #93
Idaho Falls, Idaho
We have audited, in accordance with the auditing standards generally accepted in the United States and the
standards applicable to the financial audits 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, 2016, 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 31, 2016.
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 out 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.
48
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.
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 31, 2016
49
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR
FEDERAL PROGRAM AND REPORT ON INTERNAL CONTROL OVER
COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE
Board of Trustees
Bonneville Joint School District #93
Idaho Falls, Idaho
Report on Compliance for Each Major Federal Program
We have audited Bonneville Joint School District #93’s compliance with the types of compliance requirements
described in the U.S. Office of Management and Budget (OMB) Compliance Supplement that could have a direct
and material effect on each of Bonneville Joint School District #93’s major federal programs for the year ended
June 30, 2016. 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; the standards
applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of
the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Those standards and the Uniform Guidance require that we plan and perform the audit to obtain reasonable
assurance about whether noncompliance with the types of compliance requirements referred to above that could
have a direct and material effect on a major federal program occurred. An audit includes examining, on a test
basis, evidence about Bonneville Joint School District #93’s compliance with those requirements and performing
such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for 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, 2016.
50
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 Uniform Guidance, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness
of Bonneville Joint School District #93’s internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance
does not allow management or employees, in the normal course of performing their assigned functions, to prevent
or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely
basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in
internal control over compliance, such that there is a reasonable possibility that material noncompliance with a
type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely
basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of
deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that
is less severe than a material weakness in internal control over compliance, yet important enough to merit
attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control over compliance that might be
material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over
compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly this report is not suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 31, 2016
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2016
51
SECTION I - SUMMARY OF AUDITORS’ RESULTS
Financial Statements
Type of auditor’s report issued: Unmodified.
Internal control over financial reporting:
Material weakness (es) identified? Yes X No
Significant deficiency (ies) identified
that are not considered to be
material weaknesses? Yes X None reported
Noncompliance material to financial statements noted? Yes X No
Federal Awards
Internal control over major programs:
Material weakness (es) identified? Yes X No
Significant deficiency(ies) identified
that are not considered to be
material weaknesses? Yes X None reported
Type of auditor’s report issued on compliance for major programs: Unmodified.
Any audit findings disclosed that are required to be reported in accordance
with Title 2 U.S. Code of Federal Regulations, Part 200, Uniform
Administrative Requirement, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance)? Yes X No
Identification of major programs:
CFDA Number(s) Name of Federal Program or Cluster
84.010 Title I Grants to Local Educational Agencies
Dollar threshold used to distinguish
between type A and type B programs: $750,000
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, 2016
52
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, 2016
53
Federal Pass-Through
CFDA Entity Identifying
Federal Grantor / Pass-Through Grantor / Program Title Number Number Expenditures
United States Department of Education
Passed Through Idaho State Department of Education:
Title I Grants to Local Educational Agencies 84.010 S010A150012 1,543,779
Migrant Education - Basic State Grant Program 84.011 S011A150012 39,625
English Language Acquisition 84.365 S365A150012 56,616
Improving Teacher Quality 84.367 S367A150011 250,849
Subtotal 1,890,869
Special Education Cluster
Special Education – School-age 84.027 H027A150088 1,829,781
Special Education – Preschool 84.173 H173A150030 61,023
Total Special Education Cluster 1,890,804
Total Passed Through the Idaho State Department of Education3,781,673
Passed Through the State Division of Professional-Technical
Vocational Education - Basic Grants to States 84.048 V048A150012 95,986
Total U.S. Department of Education 3,877,658
United States Department of Agriculture
Passed Through the Idaho State Department of Education:
Child Nutrition Cluster
Cash Assistance
School Breakfast Program 10.553 2016IN109947 432,170
National School Lunch Program-cash 10.555 2016IN109947 1,899,128
Summer Food Service Program for Children 10.559 2015IN109947 68,250
2,399,548
Non-Cash Assistance (Commodities)
National School Lunch Program 10.555 314,737
Total Child Nutrition Cluster 2,714,285
Fresh Fruit and Vegetable Program 10.582 201616L160347 42,137
Total Passed Through Idaho State Department of Education 2,756,422
Passed Through Bonneville County
Federal Forest 10.665 43,096
Total U.S. Department of Agriculture 2,799,518
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2016
54
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) 12,199
Total U.S. Department of Transportation 12,199
United States Department of Health and Human Services
Passed Through the State Department of Health & Welfare:
Temporary Assistance for Needy Families 93.558 1502IDTANF 28,965
Total U.S. Department of Health and Human Services 28,965
Total expenditures of federal awards 6,718,340
Bonneville Joint School District #93
Notes to Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2016
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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, 2016. The
information in this schedule is presented in accordance with the requirements of the Uniform
Guidance issued by the Office of Management and Budget (OMB). Because the schedule
presents only a selected portion of the operations of the District, it is not intended to and does not
present the financial position or changes in net assets of the District.
NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the modified basis of accounting as
described in Note A to the District’s financial statements. Such expenditures are recognized
following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursements. Negative amounts shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years. Pass-through entity identifying numbers are presented
where available.
NOTE C NONMONETARY TRANSACTIONS
Nonmonetary assistance is reported for the Food Distribution Program at fair market value of
commodities received which is established by the State Department of Education. The District
held an undetermined amount of those commodities in inventory at June 30, 2016.
Bonneville Joint School District #93
Summary Schedule of Prior Year Audit Findings
Fiscal Year Ended June 30, 2016
56
Audit Finding Reference: none
Status of Prior Audit Finding: none