HomeMy WebLinkAbout2021 Bonneville School District Audit
Bonneville Joint
School District #93
IdahoFalls,Idaho
Annual Financial Report
Year Ended June 30, 2021
Bonneville Joint School District #93
Contents
June 30, 2021
MANAGEMENT’S DISCUSSION & ANALYSIS ........................................................................................... 1-7
INDEPENDENT AUDITOR’S REPORT .......................................................................................................... 8-9
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position ............................................................................................................................10
Statement of Activities ................................................................................................................................11
Fund Financial Statements
Combined Balance Sheet
Governmental Funds....................................................................................................................................12
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position ..................................................................................................................13
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances............................... 14-15
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures,
And Changes in Fund Balances to the Statement of Activities ...................................................................16
Notes to Financial Statements ...................................................................................................................... 17-41
REQUIRED FINANCIAL INFORMATION
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual .......................................................................................................................................... 42-43
Required Supplementary Information .......................................................................................................... 44-46
Notes to Required Supplementary Information .................................................................................................47
OTHER FINANCIAL INFORMATION
All Nonmajor Funds
Combining Balance Sheet ..................................................................................................................................48
All Nonmajor Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance ............................................49
Schedule of Taxes Receivable ..................................................................................................................... 50-51
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 ................................................................................................52-53
i
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
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, 2021. 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 2021 are as follows:
In total, net position decreased by $1,073,223 which represents an 2.74% decrease from 2020 restated balance of
$39,234,349.
General revenues accounted for $89,395,016 in revenue or 71.67% of all revenues. Program specific revenues in
the form of charges for services, operating grants and contributions, and capital grants and c ontributions
accounted for $35,341,295 or 28.33% of total revenues of $124,736,311.
Total assets of governmental activities decreased by $4,398,115, as cash and cash equivalents decreased by
$9,902,009, receivables and prepaid expenses increased by $950,116, inventory decreased by $18,020, and capital
assets increased by $4,571,748. 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 decreased by
$7,682,491.
The District had $125,809,534 in expenses; only $35,341,295 of these expenses were offset by program specific
charges for services, grants, or contributions. General revenues (primarily state support and local property taxes)
of $89,395,016 were adequate to provide for these programs.
Among major funds, the General Fund had $82,702,640 in revenues, and $81,741,212 in expenditures. The
General Fund’s fund balance increased $514,756 from 2020.
USING THE BASIC FINANCIAL STATEMENTS
This annual report consists of a series of financial statements and notes to those statements. These statements are
organized so the reader can understand Bonneville Joint School District #93 as a financial whole, an entire
operating entity. The statements then proceed to provide an increasingly detailed look at specific financial
activities.
The Statement of Net Position and the Statement of Activities provide information about the activities of the
whole school district, presenting both an aggregate view of the District’s finances, and a longer-term view of
those finances. Fund financial statements provide the next level of detail. For governmental funds, these
statements tell how services were financed in the short -term, as well as what remains for future spending. The
fund financial statements also look at the District’s most significant funds with all other nonmajor funds presented
in total in one column. In the case of Bonneville Joint School District #93, the General Fund is by far the most
significant fund.
1
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
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 2021?” The Statement of Net Position and the Statement of Activities answer this question.
These statements include all assets and liabilities using the accrual basis of accounting similar to the accounting
used by most private-sector companies. This basis of accounting takes into account all of the current year’s
revenues and expenses regardless of when cash is received or paid.
These two statements report the District’s net assets and changes in those assets. This change in net position is
important because it tells the reader that, for the District as a whole, the financial position of the District has
improved or diminished. The causes of this change may be the result of many factors, some financial and some
not. Nonfinancial factors include the District’s property tax base, current property tax laws in Idaho restricting
revenue growth, facility condition, required educational programs, and other factors.
In the Statement of Net Position and the Statement of Activities, the District reports governmental activities.
Governmental activities are the activities where most of the District’s programs and services are reported
including, but not limited to, instruction, support services, operation and maintenance of plant, pupil ,
transportation, and extracurricular activities. The District does not have any business type activities.
REPORTING THE DISTRICT’S MOST SIGNIFICANT FUNDS
Fund Financial Statements
The analysis of the District’s major funds begins on page 12. Fund financial reports provide detailed information
about the District’s major funds. The District uses many funds to account for a multitude of financial transactions.
However, these fund financial statements focus on the District’s most significant funds. The District’s major
governmental funds are the General, Debt Service, Capital Projects, and Construction 2018 Funds.
Governmental Funds
Most of the District’s activities are reported in governmental funds, which focus on how money flows into and out
of those funds and the balances left at year end available for spending in the future periods. These funds are
reported using an accounting method called modified accrual accounting, which measures cash and all other
financial assets that can readily be converted to cash. The governmental fund statements provide a detailed short -
term view of the District’s general government operations and the basic services it provides. Governmental fund
information helps you determine whether there are more or fewer financial resources that can be spent in the near
future to finance educational programs. The relationship (or differences) between governmental ac tivities
(reported in the Statement of Net Position and the Statement of Activities) and governmental funds is reconciled
in the financial statements.
2
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
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 2021 compared to 2020:
2020 -
2021 as restated
Assets
Current and other assets 57,253,687 66,223,550
Capital assets 144,523,567 139,951,819
Total assets 201,777,254 206,175,369
Deferred outflows of resources 16,753,899 11,812,174
Current and other liabilities 15,484,688 17,489,490
Long-term liabilities 161,245,868 153,184,214
Total liabilities 176,730,556 170,673,704
Deferred inflows of resources 3,639,471 9,572,540
Net investment in capital assets 30,006,795 25,501,198
Restricted 26,109,911 24,006,240
Unrestricted (17,955,580) (10,273,089)
Total net position 38,161,126 39,234,349
Total assets of governmental activities decreased by $4,398,115, as cash and cash equivalents decreased by
$9,902,009, receivables and prepaid expenses increased by $950,116, inventory decreased by $18,020, and capital
assets increased by $4,571,748. The District’s assets and deferred outflows of resources exceeded liabilities and
deferred inflows of resources by $38,161,126 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 decreased by $7,682,491.
3
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
The following table shows the changes in net position for fiscal years 2021 and 2020:
Revenues
Program revenues
Charges for services
Operating grants and contributions
General revenues
Property taxes
State aid
Federal aid
Other
2021
3,708,994
31,632,301
19,269,692
67,741,471
37,943
2,345,910
2020
3,449,040
19,676,920
20,596,067
67,624,096
35,567
2,471,983
Total revenues 124,736,311 113,853,673
Program expenses
Instruction
Support services
Administrative
Business admin services
Operations
Transportation
Community service
Non-instructional
Interest and fiscal charges
Capital improvements
69,341,545
20,698,145
8,130,937
2,339,653
9,951,208
4,699,056
79,432
5,971,973
3,650,573
947,012
57,914,572
18,085,973
7,112,663
2,161,893
9,043,047
3,964,627
94,993
3,495,063
3,866,125
852,115
Total expenses 125,809,534 106,591,071
Increase (decrease) in net position (1,073,223) 7,262,602
GOVERNMENTAL ACTIVITIES
Governmental revenues come primarily from three
apportionment, other state grants, and revenue in
sou
lieu
rces.
of
State aid
taxes, and
of $79,38
makes up
6,258 consists of the
63.64% of revenues
state
from
governmental activities. Property taxes of $19,021,665 make up 15.25% of total revenues from governmental
activities. Federal contracts and grants of $21,334,291 make up 17.10% of total revenues from governmental
activities.
Instruction expenditures including the support activities of support services, administrative, business admin
services, operations, and transportation comprise $115,160,544 of District expenses.
4
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
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 2021 Services 2021
Instruction 55.12 69,341,545 56,291,339
Support services 16.45 20,698,145 13,018,862
Administrative 6.46 8,130,937 7,848,515
Business admin services 1.86 2,339,653 2,152,659
Operations 7.91 9,951,208 7,404,055
Transportation 3.74 4,699,056 1,847,725
Community service 0.06 79,432 78,000
Non-instructional 4.75 5,971,973 (225,199)
Interest and fiscal charges 2.90 3,650,573 1,177,863
Capital improvements 0.75 947,012 874,420
Total expenses 100 125,809,534 90,468,239
Instruction: Instruction expenses include activities directly dealing with the teaching of pupils and the interaction
between teacher and pupil.
Support Services: Support Services provide personnel services, activities, and programs for the administration,
management, technical, and logistical support to facilitate and enhance the function of instruction and shall
provide for the general operation of the schools.
Administration: The personnel, activities, and services for directing and managing the operation of the schools in
the District. (Principals, assistant principals, secretaries, and clerks charged with responsibility for a school’s
administration) Board of Education, Administration, includes expenses associated with administrative supervision
of the District.
Business Admin Services: The program concerned with the fiscal operations of the District. This program may
include budgeting, fiscal and business expenditures, receiving and disbursing, purchasing, financial and property
accounting, payroll, internal auditing, and activities that support other administrative and instructional functions
including fiscal services, human resources, planning, and administrative information technology.
Operations: Operations and maintenance includes the personnel, activities, and programs concerned with keeping
the physical plant operational and keeping the grounds, buildings, and equipment in effective working condition
and in an adequate and safe state of repair.
Community Services: Community Services provide training and materials for parents in the form of workshops,
in-service, parent/ family nights, a parent center library, and Pine Basin summer camp. These services better train
parents to help students reach state standards.
Transportation: Transportation includes the personnel, activities, and services for providing student transportation
to school and to activities and to provide for the general administrative and maintenance needs of District
vehicles.
Non-instructional: Non-instructional services include the preparation, delivery, and servicing of lunches, snacks,
and other incidental meals to students and school staff in connection with school activities.
5
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
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 $124,496,179 and expenditures of
$129,267,389. The net change in fund balance for the year in the General Fund, Debt Service Fund, Capital
Projects Fund, and Construction 2018 Fund, was an increase of $514,756, a decrease of $1,511,224, an increase
of $585,579, and a decrease of $10,307,803 respectively.
GENERAL FUND BUDGETING HIGHLIGHTS
During the course of fiscal 2021 year, the District did amend its budget.
For the General Fund, the budgeted revenue was $80,660,003 and the budgeted expense was $85,321,274. Actual
revenue was $82,702,640 which includes $711,307 for leadership premiums to qualifying personnel and $319,903
in professional development funds. Actual expenditures were $81,741,212, which include expenditures related to
the leadership premiums and professional development.
CAPITAL ASSETS
At the end of the fiscal year 2021, the District had $144,523,567 invested in land, buildings, furniture and
equipment, and vehicles (net of accumulated depreciation).
2021 2020
Non-depreciable assets 34,862,347 25,564,512
Buildings and improvements 105,918,350 110,656,914
Equipment 1,740,984 1,664,382
Vehicles 2,001,886 2,066,011
Total capital assets, net 144,523,567 139,951,819
Overall capital assets increased $4,571,748 from fiscal year 2020 to fiscal year 2021. Increase in capital assets,
primarily buildings, equipment, and vehicles, was mostly due to the construction of the new middle school.
DEBT ADMINISTRATION
At June 30, 2021, the District had outstanding capital lease obligations of $91,919.
At June 30, 2021, the District had five general obligation bond issues as follows:
Due within
Total one year
2012A Series Bond 11,780,000
2012C Series Bond 2,160,000 1,060,000
2016A Series Bond 48,330,000 960,000
2016B Series Bond 17,245,000 1,840,000
2018 Series Bond 28,905,000
Total 108,420,000 3,860,000
At June 30, 2021, the District’s overall legal debt margin was $202,440,882.
6
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2021
CURRENT FINANCIAL ISSUES AND CONCERNS
Bonneville Joint School District 93 was able to offer in-person instruction during the entire 2020-2021 school
year. COVID-19 certainly had an impact on attendance which is a major component of state funding. As this was
a major issue for most Idaho school districts, a temporary state rule was enacted to shift funding to enrollment.
The Idaho Legislature also enacted legislation that reduced state support for schools, and in turn allocated federal
funds to backfill the holdback to keep schools generally at the same revenue level as was originally expected. As
we begin the 2021-2022 school year, it appears that attendance is going to be an issue again, and there have been
initial discussions at the state level regarding another temporary rule to fund school s on enrollment again this
school year.
Another change the Idaho Legislature made for this coming school year is that no funds can be withdrawn from
the Idaho Public Education Stabilization Fund if final statewide allocations exceed budgeted amounts. Th is is a
concern for all Idaho School Districts as funds have been drawn from this resource for the last several years to
keep schools wholly funded. We have not been given any estimates on the potential impact of this law, and likely
won’t know any more details until Spring of 2022. Because we have a healthy fund balance and the ability to
adjust staffing, we believe we can adjust expenditures to deal with any negative impacts of this legislation.
There has been much discussion throughout the state about having the state fund all-day kindergarten in coming
years. As our elementary schools are near capacity, this would require the use of more modular classrooms,
construction of building additions, or construction of new buildings. As taxable market values have increased
dramatically, taxpayers will certainly be paying attention to anything the District proposes that may increase tax
payments. As building costs have also substantially increased, this is an issue we are monitoring closely.
COMPONENT UNIT
These financial statements do not include the Bonneville Education Foundation, a component unit of the District.
The financial information for the Foundation will be available at the District office.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, investors, and creditors with a general
overview of the District’s finances and to show the District’s accountability for the money it receives. If you have
questions about this report or need additional financial information contact Guy Wangsgard, Chief Financial/
Operations Officer, at Bonneville Joint School District #93, 3497 North Ammon Road, Idaho Falls, Idaho 83401
or email at GuyW@d93.k12.id.us.
7
This page intentionally left blank.
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, 2021, and the related notes to the financial statements, which collectively comprise the District’s
basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States; this includes the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are
free from material misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit
in accordance with auditing standards generally accepted in the United States and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no
such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund, and the aggregate remaining fund information
of Bonneville Joint School District #93, as of June 30, 2021, and the respective changes in financial position for
the year then ended in accordance with accounting principles generally accepted in the United States.
8
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States require that the Management’s Discussion and
Analysis, budgetary comparison information, schedule of changes in total OPEB liability and related ratios,
schedule of employer’s share of net OPEB asset PERSI-Sick Leave plan last 10 fiscal years, schedule of employer
contribution PERSI-Sick Leave Plan last 10 fiscal years, schedule of employer’s share of net pension liability for
PERSI-Base plan last 10 fiscal years and schedule of employer contributions PERSI-Base plan for last 10 fiscal
years listed in the table of contents on pages 1 through 7 and pages 42 through 47 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 o ur audit of the basis financial
statements. We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the District’s basic financial statements. The accompanying supplementary information, such as the
combining and individual nonmajor fund financial schedules and other schedules listed in the table of contents are
not a required part of the financial statements.
The combining and individual nonmajor fund financial schedules and other schedules listed in the table of
contents are the responsibility of management and were derived from and relate directly to the underlying
accounting and other records used to prepare the basic financial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other records
used to prepare the basic financial statements or to the basic financial statements themse lves, and other additional
procedures in accordance with auditing standards generally accepted in the United States. In our opinion, the
combining and individual nonmajor fund financial schedules and other schedules listed in the table of contents 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 7, 2021, on our
consideration of Bonneville Joint School District #93’s internal control over financial reporting and on our tests of
its compliance with certain provisions of laws, regulations, contracts, grant agreements, and other matters. The
purpose of that report is to describe the scope of our testing of internal control over financial reporting and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of Bonneville Joint
School District #93’s internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standards in considering the District’s internal
control over financial reporting and compliance.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 7, 2021
9
This page intentionally left blank.
Bonneville Joint School District #93
Statement of Net Position
June 30, 2021
Governmental
Activities
ASSETS
Cash and investments 39,037,302
Property tax receivable, net 7,134,409
Other receivables 6,622,012
Supplies inventory 122,533
PERSI sick leave 4,337,431
Land and construction in progress 34,862,347
Depreciable buildings, equipment, and vehicles, net of depreciation 109,661,220
Total assets 201,777,254
DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 1,544,245
Changes of assumptions and other inputs - OPEB 333,114
Changes of assumptions and other inputs - PERSI SL 603,112
Related to pensions 14,273,428
Total deferred outflows of resources 16,753,899
LIABILITIES
Accounts payable 1,868,777
Accrued wages 8,812,281
Accrued employee benefits 3,325,529
Interest payable 1,478,101
Long-term liabilities
Net pension liability 35,383,980
Portion due or payable within one year
Capital leases and contracts payable 22,980
General obligation bonds/premium 5,538,395
Other liabilities 260,081
Portion due or payable after one year
Capital leases and contracts payable 68,939
General obligation bonds/premium 115,669,904
Other post employment benefits 4,301,589
Total liabilities 176,730,556
DEFFERED INFLOWS OF RESOURCES
Differences between expected & actual experience - OPEB 1,374,544
Differences between expected & actual experience - PERSI SL 1,109,561
Related to pensions 1,155,366
Total deferred inflows of resources 3,639,471
NET POSITION
Net investment in capital assets 30,006,795
Restricted for
Capital improvements 7,991,920
Debt service 11,071,003
Child nutrition 1,608,479
Other 5,438,509
Unrestricted (17,955,580)
Total net position 38,161,126
The accompanying notes are an integral part of these statements.
10
0
0
Bonneville Joint School District #93
Statement of Activities
Fiscal Year Ended June 30, 2021
Functions / Programs
Governmental activities
Instruction
Support services
Administrative
Business admin services
Operations
Transportation
Community service
Noninstructional
Interest on long-term debt
Capital improvements
Expenses
69,341,545
20,698,145
8,130,937
2,339,653
9,951,208
4,699,056
79,432
5,971,973
3,650,573
947,012
Charges for
services
1,283,335
2,323,167
27,148
27,990
47,354
Program Revenues
Operating Capital
grants and grants and
contributions contributions
11,766,871
5,356,116
255,274
186,994
2,547,153
2,823,341
1,432
6,149,818
2,472,710
72,592
Net (expense)
revenue and
changes in
net position
Total
governmental
activities
(56,291,339)
(13,018,862)
(7,848,515)
(2,152,659)
(7,404,055)
(1,847,725)
(78,000)
225,199
(1,177,863)
(874,420)
Total governmental activities 125,809,534 3,708,994 31,632,301 0 (90,468,239)
General revenues
Taxes
Property taxes
Property tax replacement
Federal grants
State aid - formula grants
Other state revenues
Investment earnings
Other local
Gain (loss) on sale of assets
19,021,665
248,027
37,943
67,047,924
693,547
51,715
2,062,148
232,047
Total general revenues 89,395,016
Change in net position (1,073,223)
Net position - beginning, as originally stated 37,741,299
Prior period adjustment 1,493,050
Net position - beginnng, as restated 39,234,349
Net position - ending 38,161,126
The accompanying notes are an integral part of these statements.
11
0
0
0
0 0 0
0
0 0 0 0
0 0 0 0
0
0 0 0
0 0 0
0 0 0 0
0 0 0
0
0 0 0 0
0
Bonneville Joint School District #93
Combined Balance Sheet
Governmental Funds
June 30, 2021
All Total
Debt Capital Construction Nonmajor Governmental
General Service Projects 2018 Funds Funds
ASSETS
Cash and investments 11,457,254 7,230,890 7,094,922 5,946,127 7,308,109 39,037,302
Receivables
Taxes - current 1,982,611 3,459,711 956,329 6,398,651
Taxes - delinquent 245,869 379,181 110,708 735,758
State apportionment 2,865,466 3 2,865,469
Federal grants/contracts 3,293,257 3,293,257
Other 455,995 1,218 756 5,317 463,286
Interfund receivable 1,622,330 1,622,330
Supplies inventory 122,533 122,533
Total assets 18,629,525 11,071,003 8,161,959 5,946,883 10,729,216 54,538,586
LIABILITIES
Accounts payable 644,519 170,039 799,134 255,085 1,868,777
Accrued wages 7,624,599 1,187,682 8,812,281
Accrued employee benefits 2,730,911 594,618 3,325,529
Interfund payable 1,622,330 1,622,330
Total liabilities 11,000,029 0 170,039 799,134 3,659,715 15,628,917
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 245,869 379,181 110,708 0 0 735,758
FUND BALANCES
Nonspendable
Inventory 122,533 122,533
Restricted for
Debt service 10,691,822 10,691,822
Child nutrition 1,485,946 1,485,946
Other fund activities 7,881,212 5,147,749 5,461,022 18,489,983
Assigned 7,383,627 7,383,627
Total fund balances 7,383,627 10,691,822 7,881,212 5,147,749 7,069,501 38,173,911
Total liabilities, deferred
inflows of resources,
and fund balances 18,629,525 11,071,003 8,161,959 5,946,883 10,729,216 54,538,586
The accompanying notes are an integral part of these statements.
12
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2021
Total fund balances - governmental funds 38,173,911
Amounts reported for governmental activities in the Statement of Net Position
different because:
are
Governmental funds report the effect of premiums, discounts, and similar items when
the bonds are first issued by the District whereas these amounts are deferred and
amortized in the Statement of Activities. (11,244,054)
The net pension liability and the deferred outflows of resources and deferred inflows
of resources related to pensions are only reported in the Statement of Net Position: Net
pension liability is $35,383,980, deferred inflows of resources related to pensions is
$1,155,366 and deferred outflows of resources related to pensions is $14,273,428. (22,265,918)
The net PERSI sick leave asset and the deferred outflows of resources and deferred
inflows of resources related to PERSI sick leave are only reported in the Statement of
Net Position: Net PERSI asset is $(4,337,431), deferred inflows of resources related to
PERSI sick leave is $1,109,561 and deferred outflows of resources related to PERSI
sick leave is $603,112. 3,830,982
Capital assets used in governmental activities are not current financial resources and
therefore are not reported as assets in governmental funds. The cost of the assets is
$235,829,819 and the accumulated depreciation is $91,306,252. 144,523,567
Property taxes receivable will be collected this year but are not available soon enough
to pay for the current period's expenditures, and therefore are unearned in the funds. 735,758
Deferred outflows and inflows of resources related to other post employment benefits
are not current financial resources and therefore are not reported in the fund financial
statements, but are reported on the Statement of Net Position. (1,041,430)
Long-term liabilities at year end consisted of:
Bonds payable (108,420,000)
Accrued interest on the bonds (1,478,101)
Compensated absences (260,081)
Capital lease obligation (91,919)
OPEB obligation (4,301,589)
Long-term liabilities, including bonds payable, are not due and payable in the current
period and therefore are not reported as liabilities in the funds.
(114,551,690)
Total net position - governmental activities 38,161,126
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, 2021
0
0
0
0 0 0 0
0 0 0
0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0
0 0
0 0 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0 0 0 0 0
0 0 0
0 0 0 0
0
0 0
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2021
All Total
Debt Capital Construction Nonmajor Governmental
General Service Projects 2018 Funds Funds
REVENUES
Property taxes 5,903,517 10,186,860 2,823,119 18,913,496
Penalties and interest
on delinquent taxes 39,935 45,230 14,919 100,084
Earnings on investments 27,429 23,291 (832) 1,827 51,715
Food service 47,354 47,354
Rental 27,148 27,148
Other local 1,581,677 62,648 2,991,508 4,635,833
State apportionment
Base 58,575,246 58,575,246
Transportation 2,763,824 2,763,824
Exceptional child 11,052 11,052
Benefits 8,472,678 8,472,678
Property tax replacement 241,988 90,995 332,983
Other state revenue 5,058,146 2,472,710 1,699,619 9,230,475
Federal grants and contracts 21,334,291 21,334,291
Total revenues 82,702,640 12,819,086 2,900,686 (832) 26,074,599 124,496,179
EXPENDITURES
Current
Instruction 49,082,876 275,932 10,470,513 59,829,321
Support services 13,008,948 328,967 6,262,270 19,600,185
Administration 6,862,600 22,432 255,274 7,140,306
Business operations 1,875,096 426,100 38,457 2,339,653
Operations 7,032,746 1,203,739 1,554,648 9,791,133
Transportation 3,801,679 591,054 59,517 4,452,250
Other support services
Community services 77,267 2,165 79,432
Noninstructional 5,938,338 5,938,338
Debt service 9,030,751 9,030,751
Facility acquisition 426,210 10,306,971 332,839 11,066,020
Total expenditures 81,741,212 9,030,751 3,274,434 10,306,971 24,914,021 129,267,389
Revenues over
(under expenditures) 961,428 3,788,335 (373,748) (10,307,803) 1,160,578 (4,771,210)
The accompanying notes are an integral part of these statements.
14
0 0
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2021
General
OTHER FINANCING
SOURCES (USES)
Proceeds from capital lease
Proceeds from sale of capital assets
Payment to refunded bond escrow agent
Operating transfers, net (446,672)
Total other financing
sources (uses) (446,672)
Debt
Service
(5,299,559)
(5,299,559)
Capital
Projects
526,172
433,155
959,327
Construction
2018
0
All Total
Nonmajor Governmental
Funds Funds
91,919 91,919
526,172
(5,299,559)
13,517 0
105,436 (4,681,468)
Revenues and other financing sources
over (under) expenditures 514,756 (1,511,224) 585,579 (10,307,803) 1,266,014 (9,452,678)
Fund balance - July 1, 2020,
as restated 6,868,871 12,203,046 7,295,633 15,455,552 5,803,487 47,626,589
Fund balance - June 30, 2021 7,383,627 10,691,822 7,881,212 5,147,749 7,069,501 38,173,911
The accompanying notes are an integral part of these statements.
15
Reference Columns
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances to the Statement of Activities
For Fiscal Year Ended June 30, 2021
Total net change in fund balances - governmental funds: (9,452,678)
Amounts reported for governmental activities in the Statement of Activities are different
because:
The issuance of long-term debt provides current financial resources to governemntal funds,
while the repayment of the principal of long-term debt consumes the current financial
8,580,000resources of governmenal funds. Neither transaction has any effect on net position.
Capital outlays are reported in governmental funds as expenditures. However, in the
Statement of Activities, the cost of those assets is allocated over their estimated useful lives
as depreciation expense. This is the amount by which capital outlays exceeded depreciation
and asset dispositions. 4,479,828
Because some property taxes will not be collected for several months after the District's
fiscal year ends, they are not considered 'available' revenues in the governmental funds.
Unearned tax revenues decreased by $8,085 this year. 8,085
Vested employee benefits are reported in the governemental funds when amounts are paid.
The Statement of Activities reports the value of benefits earned during the year. The
changes in the OPEB obligations, PERSI SL asset, net pension liability, and the related
deferred outlfows and inflows in addition to the change in compensated absences are all (6,696,276) differences.
Interest on long-term debt in the Statement of Activities differs from the amount reported in
the governmental funds because interest is recognized as an expenditure in the fund when it
is due, and thus requires the use of current financial resources. In the Statement of
Activities, however, interest expense is recognized as the interest accrued, regardless of
when it is due. The decrease in interest expense reported in the Statement of Activities is
the net result of the decrease in accrued interest on bonds.
Also, governmental funds report the effect of premiums, discounts, and similar items when
debt is first issued, whereas these amounts are deferred and amortized in the Statement of
Activities. This amount is the net effect of these differences in the treatment of long-term 2,007,818debt and related items.
Change in net assets of governmental activities (1,073,223)
The accompanying notes are an integral part of these statements.
16
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
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 S tate 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, 2021, 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. 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 o n major
governmental funds, each reported in a separate column. All remaining governmental funds are aggregated
and reported as nonmajor funds. Major individual governmental funds are reported as separate columns in the
fund financial statements.
Governmental Fund Types:
General Fund -The General Fund is the general operating fund of the District. It is used to account for all
financial resources except those required to be accounted for in another fund.
17
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
Debt Service Fund - The Debt Service Fund is used to account for the accumulation of resources and for the
repayment of general long-term debt principal, interest, and related costs. The primary revenue source is local
property taxes levied specifically for debt service.
Capital Projects Fund - The Capital Projects Fund is used to account for the financial resources used to
acquire school facilities, renovate existing facilities, or as otherwise provided in the Idaho Code.
Construction 2018 Fund -The Construction 2018 Fund is used to account for the proceeds from a
construction bond, and account for renovation and construction of facilities according to the bond agreement.
Special Revenue Fund - The purpose of the Special Revenue Fund is to account for federal, state, and locally
funded grants and activities. 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 and School Activity Funds. 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. The School Activity Funds are monies collected primarily 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 p rovide
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 reven ue as soon as eligibility
requirements imposed by the provider have been met.
The District applies restricted resources first when an expense is incurred for which both restricted and
unrestricted resources are available. Depreciation has been allocated specifically to functional areas with the
majority of it being allocated to instructional. Interest on long-term debt is considered an indirect expense and
is reported separately on the Statement of Activities.
18
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
Governmental Fund Financial Statements
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period or
soon enough thereafter to pay liabilities of the current period. For this purpose, the District considers revenues
to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures
generally are recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to compensated absences and claims and judgments, are
recorded only when payment is due. General capital asset acquisitions are reported as expenditures in the
governmental funds. Issuance of long-term debt and acquisitions under capital leases are reported as other
financing sources.
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 amend their General Fund budget in 2021.
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 ar e charged to several Special Revenue Funds
through budgeted transfers from the Special Revenue Funds to the General Fund.
8. Cash and Investments. Cash includes amounts in demand as well as short-term investments with a maturity
date within three months of the date acquired by the District. The District pools cash of all funds into common
bank accounts. The accounting records of each fund reflect its interest in the pooled cash. Any deficiencies in
cash of individual funds represent liabilities to other funds for cash borrowed. Under state law, the District
may deposit funds in demand deposits, interest-bearing demand deposits, or time deposits with state banks or
credit unions organized under Idaho Law, and national banks or credit unions located in Idaho.
19
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
State statutes authorize the District to invest in obligations of the U.S. Treasury, commercial paper, corporate
bonds, and repurchase agreements. The District has elected to deposit cash in excess of immediate needs into
the Local Government Investment Pool (LGIP). The LGIP is managed by the State of Idaho Treasurer’s
office. The funds of the pool are invested in certificates of deposit, repurchase agreements, commercial paper,
corporate debt instruments, and U.S. government securities. The certificates of deposit are federally insured.
The LGIP is recorded at amortized costs due to the LGIP’s tight restrictions on the types of investments that
can be held in the fund to limit the District’s exposure to losses from credit risk, market, and liquidity risk. An
annual audit of LGIP is conducted by the State Legislative Auditors Office. The Legislative Auditor of the
State of Idaho has full access to the records of the Pool. All other cash is deposited with local banks in
checking or savings accounts.
For deposits and investments, custodial credit risk is the risk that, in the event of the failure of the
counterparty, the District will not be able to recover the value of its deposits, investments, or collateral
securities that are in the possession of an outside party. The District does not have a policy for custodial credit
risk outside of the deposit and investment agreements. The District is authorized to invest in the State of
Idaho Local Government Investment Pool. This pooling is intended to improve administrative efficiency and
increase investment yield.
Credit risk is the risk that an issuer of debt securities or another counterparty to an investment will not fulfill
its obligation and is commonly expressed in terms of the credit quality rating issued by nationally recognized
statistical rating organization such as Moody’s, Standard & Poor’s, and Fitch’s. The investments of the
District are not rated and the District’s policy does not restrict them to rated investments.
9. Short-term Interfund Receivables / Payables. During the course of operations, numerous transactions occur
between individual funds and the General Fund for goods provided or services rendered. These receivables
and payables are classified as ‘due from other funds’ or ‘due to other funds’ on the balance sheet.
10. Inventories. Supplies inventory consists of paper, food, new textbooks, and other supplies and equipment
received at the end of the fiscal year, which had not yet been consumed. The cost is recorded as an
expenditure at the time the item is consumed. Inventories are stated at cost on a first-in, first-out basis, which
approximates market. Other supplies inventory on hand at year-end has not been recorded as inventory and
was treated as expended when purchased.
11. Capital Assets. Capital assets, including land, buildings, improvements, and equipment assets are reported in
the applicable governmental columns in the government-wide financial statements. Capital assets are defined
by the District as assets with an initial, individual cost of more than $10,000 and an initial useful life of one
year or greater. Such assets are recorded at historical cost if purchased or constructed. Donated capital assets
are recorded at estimated fair value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the
life of the asset are not capitalized. Buildings, improvements, and equipment assets are depreciated using the
straight-line depreciation method over the following estimated useful lives:
Assets Years
Buildings 30
Equipment 3-15
Vehicles 3-8
20
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
12. Compensated Absences. Employees are entitled to certain compensated absences based on their length of
employment. The entire compensated absences owed are reported in the government-wide financial
statement.
13. Other Post-Employment Benefits. PERSI employees who retire and have not yet become eligible for Federal
Medicare coverage are eligible to purchase insurance through the District’s healthcare plan. Although retirees
pay their own premium, there is an implicit cost due to increased group premiums when retirees are included
in District insurance plans. For the purpose of measuring the net other post-employment benefit liability,
deferred outflows of resources and deferred inflows of resources related to other post -employment benefits,
and other post-employment benefit expenses, information about fiduciary net position of the implicit medical
benefit Plan and additions to/deductions from the Plan’s fiduciary net position have been determined on the
same basis as they are reported by the Plan. Benefit payments are recognized when due and payable in
accordance with the benefit terms.
For purposes of measuring the net OPEB asset, deferred outflows of resources, and deferred inflows of
resources related to OPEB, and OPEB expense; (expense offset), information about the fiduciary net position
of the Pubic Employee Retirement System of Idaho (PERSI or System) Sick Leave Insurance Reserve fund
and additions to/deductions from Sick Leave Insurance Reserve Fund’s fiduciary net position have been
determined on the basis as they are reported by the Sick Leave Plan. For this purpose, benefit payments are
recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
14. Pensions. For purposes of measuring the net pension liability and pension expense, information about the
fiduciary net position of the Public Employee Retirement System of Idaho Base Plan (Base Plan) and
additions to/deductions from Base Plan’s fiduciary net position have been determined on the same basis as
they are reported by the Base Plan. For this purpose, benefit payments (including refunds of employee
contributions) are recognized when due and payable in accordance with the benefit terms. Investments are
reported at fair value.
15. Deferred Outflows / Inflows of Resources. In addition to assets, the Statement of Net position will sometimes
report a separate section for deferred outflows of resources. This separate financial statement element,
deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and
so will not be recognized as an outflow of resources (expense/expenditure) until then. The District has several
items that qualify for reporting in this category and they occur on the government-wide Statement of Net
Position. The first item is a deferred charge on refunding that results from the difference in the carrying value
of refunded debt and its reacquisition price and is amortized over the shorter of the life of the refunded or
refunding debt. The District also reports deferred outflows of resources related to pensions for its
proportionate shares of collective deferred outflows of resources related to pensions and District contributions
to pension plans subsequent to the measurement date of the collective net pension liability. The last two
deferred outflows result from changes of assumptions or other inputs on the OPEB obligations and PERSI SL
asset.
In addition to liabilities, the Statement of Net Position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element, deferred inflows of resources, represents an
acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of
resources (revenue) until that time.
21
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
The District has several types of items, one of which arises under a modified accrual basis of accounting, and
others that arise in the government wide financial statements, that qualify for reporting in this category.
Accordingly, unavailable revenue, is reported only in the governmental funds balance sheet.
The governmental funds report unavailable revenues from property taxes. These amounts are deferred and
recognized as an inflow of resources in the period that the amounts become available. The District also
reports deferred inflows of resources for its proportionate share of the collective deferred inflows of resources
related to pensions and difference between expected and actual experience – OPEB and PERSI SL on the
government wide financial statements.
16. Long-term Obligations. Long-term debt is recognized as a liability of a governmental fund when due. For
other long-term obligations, only that portion expected to be financed from expendable, available, financial
resources is reported as a fund liability of a governmental fund.
17. Net Position Flow Assumption. Sometimes the District will fund outlays for a particular purpose from both
restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts
to report as restricted net position and unrestricted net position in the government-wide financial statements, a
flow assumption must be made about the order in which the resources are considered to be applied. It is the
government’s policy to consider restricted net position to have been depleted before unrestricted net position
is applied.
18. Fund Balance Flow Assumptions. Sometimes the District will fund outlays for a particular purpose from both
restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balances). In
order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the
governmental fund financial statements a flow assumption must be made about the order in which the
resources are considered to be applied. It is the District’s policy to consider restricted fund balance to have
been depleted before using any of the components of unrestricted fund balance. Further, when the components
of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first,
followed by assigned fund balance. Unassigned fund balance is applied last.
19. Fund Balance. In the fund financial statements, governmental funds report aggregate amounts for five
classifications of fund balances based on the constraints imposed on the use of these resources. The
nonspendable fund balance classification includes amounts that cannot be spent because they are either (a) not
in spendable form – prepaid items or inventories or (b) legally or contractually required to be maintained
intact.
The spendable portion of the fund balance comprises the remaining four classifications: restricted, committed,
assigned, and unassigned.
Restricted fund balance: This classification reflects the constraints imposed on resources either (a) externally
by creditors, grantors, contributions, or laws or regulations of other governments or (b) imposed by law
through constitutional provisions or enabling legislation.
Committed fund balance: These amounts can used only be for the specific purposes determined by a formal
action of the District’s highest level of decision-making authority. The School Board is the highest level of
decision-making authority for the District that can, by board action prior to the end of the fiscal year, commit
fund balance. Once adopted, the limitation imposed by the board resolution remains in place until a similar
action is taken (the adoption of another resolution) to remove or revise the limitation. This classification also
includes contractual obligations to the extent that existing resources in the fund have been specifically
committed for use in satisfying those contractual requirements.
22
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
Assigned fund balance: This classification reflects the amounts constrained by the District’s “intent” to be
used for specific purposes but do not meet the criteria to be classified as restricted or committed. The School
Board has by resolution authorized management to assign fund balance. The board may also assign fund
balance as it does when appropriating fund balance to cover a gap between estimated revenue and
appropriation in the subsequent year’s appropriated budget. Assigned fund balances include all remaining
amounts (except negative balances) that are reported in governmental funds, other than the General Fund, that
are not classified as nonspendable and are neither restricted nor committed.
Unassigned fund balance: This fund balance is the residual classification for the General Fund. It is also used
to report negative fund balances in other governmental funds.
20. Risk Management. The District is exposed to a considerable number of risks of loss, including: (a) damage to
and loss of property and contents; (b) employee torts; (c) professional liability, i.e. errors and omissions; (d)
environmental damage; (e) workers’ compensation, i.e. employee injuries; and (f) medical insurance costs of
employees. Commercial policies, transferring the risks of loss, except for relatively small deductible amounts,
are purchased for property and content damage, employee torts, and professional liabilities. Settled claims
resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal
years.
21. Estimates. The preparation of financial statements in conformity with generally accepted accounting
principles requires the District to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenditures during the reporting period. Actual results could differ from
those estimates.
22. Recently Adopted Accounting Pronouncement. As of July 1, 2020, the District implemented GASB Statement
No. 84, Fiduciary Activities. This Statement establishes new criteria for identifying fiduciary activities that
are reported in the fiduciary funds. This Statement also revised the definition and terminology used for
activities that were previously classified as agency funds. The District has reclassified its school activities
funds as a special revenue fund using the GASB Statement No. 84 definitions. Note S, prior period
restatement, outlines this restatement.
23. New Accounting Pronouncements. GASB Statement No. 87, Leases: Issued June 2017, the objective of this
statement is to improve accounting and financial reporting for leases and enhance the relevance and
consistency of information about governments’ leasing activities. This statement is effective for the fiscal
year ending June 30, 2022. The District is evaluating what impact this new standard will have on its financial
statements.
NOTE B CASH AND INVESTMENTS
At June 30, 2021, the carrying amount of District cash was $18,352,777 and the bank balance of the District’s
deposits was as follows:
Bank Balance
Insured by Federal Depository Insurance 750,000
Insured by National Credit Union Share Insurance 250,000
Uninsured and uncollateralized 17,874,815
Totals 18,874,815
23
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE B CASH AND INVESTMENTS, continued
At June 30, 2021, the cost and fair market value of the District’s investments were as follows:
Fair Market Average
Deposit and investment type Cost Value Maturity
Local Government Investment Pool -NAV 20,616,491 20,684,525 150 Days
Total investments 20,616,491 20,684,525
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, 2021, $17,874,815 of the District’s deposits and certificates of deposit were exposed to custodial credit risk
because it was uninsured and uncollateralized. Of the investments, $20,684,525 was held in the Local
Government Investment Pool which is not insured or guaranteed by the FDIC.
The District has elected to invest in the LGIP through the Idaho State Treasurer. The Idaho State Treasurer
provides oversight for investments by or through any department or institute of the State of Idaho. Amounts held
by the LGIP were held in the following investments: government agency notes, commercial paper, corporate
bonds, money markets, U.S. treasury notes, Idaho repurchase agreements, and purchased accrued interest. All
investments for the LGIP are collateralized with securities held by the LGIP’s safekeeping agent in the LGIP’s
name. The investments held by the LGIP are carried at cost, which is not materially different than fair value
(determined by the Idaho State Treasurer’s office). These investments are subject to risk from market and interest
rate fluctuations.
Information necessary to determine the level of collateralization for the Local Government Investment Pool was
unavailable. The Local Government Investment Pool is audited annually and the related financial statements and
note disclosures are included in the State of Idaho’s Comprehensive Annual Financial Report, a copy of which
can be downloaded from www.sco.idaho.gov.
NOTE C INTERFUND RECEIVABLES AND PAYABLES
During the course of its operations, the District had numerous transactions between funds to finance operations,
provide services, construct assets, and service debt. To the extent that certain tr ansactions between funds had not
been paid or received as of June 30, 2021, balances of interfund amounts receivable or payable have been
recorded. The interfund balances at June 30, 2021, were as follows:
Receivable Payable
General Fund 1,622,330
Nonmajor Funds 1,622,330
Total 1,622,330 1,622,330
The General Fund transferred $91,517 to Child Nutrition and $433,155 to Plant Facilities as required by State
law. The federal programs transferred $78,000 to the General Fund as budgeted for payment of indirect costs.
24
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
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 CONSTRUCTION COMMITMENTS
During the year ended June 30, 2021, the District contracted with various contractors to do certain projects,
revisions, and additions. The following construction contracts were in progress at June 30, 2021:
Expenditures Remaining
Original bid Average Recorded Construction
Project plus changes % complete Currently obligation
Middle School – New Construction 29,656,224 98.1% 29,095,791 560,433
Total 29,656,224 29,095,791 560,433
25
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE F CAPITAL ASSETS
Following is a summary of the capital assets at June 30, 2021:
Capital assets, not being depreciated
Elementary
Secondary
Construction in progress
Balance at
June 30, 2020
3,039,416
3,021,265
19,503,831
Additions
9,591,960
Deletions
(294,125)
Transfers
Balance at
June 30, 2021
3,039,416
2,727,140
29,095,791
Total capital assets, not being depreciated 25,564,512 9,591,960 (294,125) 0 34,862,347
Capital assets, being depreciated
Buildings
Elementary
Secondary
Administration
Total buildings
72,093,360
108,220,534
4,761,530
185,075,424
172,412
602,052
774,464 0 0
72,265,772
108,822,586
4,761,530
185,849,888
Equipment
Elementary
Secondary
Administration
Total equipment
1,018,676
1,938,387
2,383,075
5,340,138
142,290
257,092
46,900
446,282
(13,550)
(13,550) 0
1,160,966
2,195,479
2,416,425
5,772,870
Vehicles 9,052,473 471,890 (179,649) 0 9,344,714
Total capital assets, being depreciated 199,468,035 1,692,636 (193,199) 0 200,967,472
Less accumulated depreciation for:
Buildings
Equipment
Vehicles
(74,418,510)
(3,675,756)
(6,986,462)
(5,513,028)
(369,680)
(536,015)
13,550
179,649
(79,931,538)
(4,031,886)
(7,342,828)
Total accumulated depreciation (85,080,728) (6,418,723) 193,199 0 (91,306,252)
Total capital assets being depreciated, net 114,387,307 (4,726,087) 0 0 109,661,220
Governmental activities capital assets, net 139,951,819 4,865,873 (294,125) 0 144,523,567
Depreciation expense was charged to the functions of the primary government as follows:
Governmental activities
Instruction 5,560,336
Operations 322,372
Transportation 536,015
Total depreciation expense – governmental activities 6,418,723
26
44,033,750
300
2018
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE G GENERAL OBLIGATION BOND ISSUES
The District had five general obligation bond issues (2012A, 2012C, 2016A, 2016B and 2018 Series) outstanding
at the end of the year with interest rates ranging from 2.0 to 5.0 percent. The 2012C bond is scheduled to mature
March 2023. The 2012A bond is scheduled to mature September 2031. The 2016A and 2016B bonds are
scheduled to mature September 2033 and September 2028, respectively. The 2018 bond is scheduled to mature
September 2035.
Future debt service requirements are as follows:
Fiscal Year Ended June 30, Total Interest Principal
2022 8,864,574 5,004,574 3,860,000
2023 8,924,874 4,844,874 4,080,000
2024 8,409,499 4,654,499 3,755,000
2025 9,138,625 4,448,625 4,690,000
2026 9,816,501 4,201,501 5,615,000
2027-2031 61,965,188 15,675,188 46,290,000
2032-2036 44,033,750 3,903,750 40,130,000
Total 151,153,011 42,733,011 108,420,000
Changes to bond principal payable and future interest payable are summarized as follows:
2012A 2012C 2016A 2016B 2018 Combined
Principal Series Series Series Series Series Total
Balances at July 1, 2020 11,780,000 8,115,000 49,165,000 19,035,000 28,905,000 117,000,000
Reductions 5,955,000 835,000 1,790,000 8,580,000
Balances at June 30, 2021 11,780,000 2,160,000 48,330,000 17,245,000 28,905,000 108,420,000
Interest
Balances at July 1, 2020 5,893,050 1,442,625 20,853,300 4,097,750 16,822,461 49,109,186
Reductions 587,600 1,355,425 2,221,475 802,950 1,408,725 6,376,175
Balances at June 30, 2021 5,305,450 87,200 18,631,825 3,294,800 15,413,736 42,733,011
NOTE H CHANGES IN LONG-TERM LIABILITIES
Following is a summary of the changes in long-term debt for the year ended June 30, 2021:
Current
Balance Balance Portion
July 1, 2020 Increases Decreases June 30,2021 Balance
Bonds payable 117,000,000 8,580,000 108,420,000 3,860,000
Premium on bonds 14,909,885 2,121,586 12,788,299 1,678,395
Total bonds/premium 131,909,885 10,701,586 121,208,299 5,538,395
OPEB 3,778,339 523,250 4,301,589
Capital lease 114,899 22,980 91,919 22,980
Employee benefits 267,675 7,594 260,081 260,081
Total 135,955,899 638,149 10,732,160 125,861,888 5,821,456
Payment on the general obligation bonds are made by the Debt Service Fund from property taxes and state bond
levy equalization funds. Employee benefits will be paid by the fund in which the employee is paid from.
27
Month
s
Valley Office
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE I 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, 2021, the limit for the District was 5% of $6,003,405,624 or
$300,170,281. The Debt Service Fund had $10,690,601 available and the general obligation debt was
$108,420,000 leaving a legal debt margin of $202,440,882.
NOTE J DEBT REFUNDING
In June of 2021, the District paid $5,299,559 to an escrow account for the purchase of securities that were placed
in an irrevocable trust for the purpose of paying all future debt service payments of $4,935,000 of general
obligation refunding bonds on the 2012C series to reduce the debt obligations of the District. The advanced
refunding resulted in a difference between the reacquisition price and the net carrying amount of the old debt of
$7,481 after also removing the premium on the bonds and is recognized as a component of interest expense. As a
result, the refunded bonds are considered to be defeased and the liability has been removed from the governmental
activities on the statement of net position. The outstanding principal on the defeased bond is $4,935,000 at June
30, 2021.
NOTE K LEASE OBLIGATIONS
Capital Leases
The District entered into a capital financing lease with Huntington Technology Finance, Inc. The arrangement
commenced on June 10, 2020, and includes annual payments for five years with imputed interest totaling
$114,889, which is equal to the cost of the capital asset received. Obligations of governmental activities under
capital lease as of June 30, 2021, were as follows:
Year Lease Payments
2022 22,980
2023 22,980
2024 22,980
2025 22,979
91,919
Operating Leases
The District was obligated for the following leases categorized as operating leases subject to non-appropriation:
Description of Date of Term of Future Monthly Minimum
Lessor Leased Property Inception Lease Lease Amount Lease Payments
Great American Copiers 3/2018 60 389 8,169
Great American Copiers 5/2018 5 years 8,634/yr 16,549
Great American Copiers 7/2018 5 years 9,849/yr 20,519
Great American Copiers 8/2018 60 960 24,970
CIT Copier 2/2019 60 165 5,280
CIT Copier 2/2019 60 69 2,201
Great American Copier 4/2019 60 99 3,366
Great American Copier 4/2019 60 119 4,046
28
June 30,
4,66
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE K LEASE OBLIGATIONS, continued
Description of Date of Term of Future Monthly Minimum
Lessor Leased Property Inception Lease Lease Amount Lease Payments
Xerox Copier 10/2018 60 120 3,360
CIT Copier 8/2019 48 75 1,950
CIT Copier 8/2019 48 107 2,782
CIT Copier 8/2019 60 175 6,650
Great American Copier 7/2020 60 175 8,575
Total minimum lease payments 108,417
Total rental expense under the equipment and other operating leases for the year ended June 30, 2021, was
$48,340. Minimum future lease payments under these operating leases as of June 30, 2021, for the succeeding
years are:
Fiscal Year Ended Total
2022 47,921
2023 46,035
2024 11,836
2025 2,450
2026 175
Total 108,417
NOTE L NON-MONETARY TRANSACTIONS
The District received $255,612 in USDA Commodities during the 2020-2021 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 M PAYROLL EXPENDITURES AND RELATED LIABILITIES
Teacher contracts were signed for the period September 2020 through June 2021, to be paid over the twelve
months of September 2020 through August 2021. The financial statements reflect the salary expense for this
period. The accrued payroll reflects the final two months of these contracts.
NOTE N OTHER POST-EMPLOYMENT BENEFITS (OPEB)
Plan Description. Bonneville Joint School District #93’s Employee Group Benefits Plan is a single-employer
defined benefit healthcare plan administered by Blue Cross of Idaho. Blue Cross provides medical and
prescription drug insurance benefits to eligible retirees and their eligible dependents. Blue Cross Dental and
Willamette Dental provide dental insurance benefits to eligible retirees and their eligible dependents. As of June
30, 2020, the measurement date, there were 1,035 active participants and 46 inactive participants.
A retiree who retires with the Public Employee Retirement System of Idaho (PERSI) is eligible to keep the
District’s health insurance as a retiree until age 65, or until the retiree is eligible for coverage under Medicare.
Retirement eligibility is determined based on a minimum of reaching age 55 with at least 5 years of membership
with a PERSI employer. The retiree is on the same medical plan as the District’s active employees.
29
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE N OTHER POST-EMPLOYMENT BENEFITS (OPEB), continued
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 2021, the District contributed approximately $202,289 of the
annual required contribution of $760,778. Retirees are required to pay 100% of the premiums for both the retiree
and the dependent coverage.
Net Other Post-employment benefit Liability. The Net other post-employment benefit liability (NOL) was
measured as of June 30, 2021, and the total other post-employment benefit liability was determined by an
actuarial valuation as of June 30, 2020.
Actuarial Methods and Assumptions. The District does not pre-fund benefits. The current funding policy is to pay
benefits directly from general assets on a pay-as-you-basis and there is not a trust for accumulating plan assets.
The following actuarial methods and assumptions were used in the June 30, 2021, accounting valuation:
Valuation Timing Actuarial valuations are performed biennially as of July 1 for accounting
purposes only. The most recent valuation was performed as of June 30, 2020.
Actuarial Cost Method Entry Age Normal
Inflation 2.27%
Salary Increases 3.75%
Discount Rate 2.27%
Health Cost Trend Rates Medical with vision trend is 7.3% from year ending June 30, 2021, then
gradually decreasing to an ultimate rate of 3.8% for 2077 and beyond.
Dental trend is 2.9% from year ending June 30, 2021 then gradually lowering
to 2.0% for 2024 and beyond, as shown in the June 30, 2021, valuation
report.
Retirement Based on PERSI with 19% of males and 10% of females eligible at age 55,
30% of males and 26% of females first year eligible at age 60 and 36% of
males and 49% of females eligible at age 65.
Turnover 40% of future retirees are assumed to elect medical coverage and 70% of the
future retirees who elect medical coverage and are married are assumed to
elect spousal coverage as well.
Mortality Mortality is assumed to follow the RP2000 Healthy Combined Mortality
Table adjusted with generational mortality adjustments using Scale AA, set
back three years for both males and females.
Retiree Premiums The retiree contributions are a weighted average of all retiree contributions
for the period July 1, 2019, to June 30, 2020. The cost of Medical and
Prescription was $9,155 for a retiree or surviving spouse, and $5,997 for a
surviving spouse. For Dental it was $482 for a retiree or surviving spouse,
and $481 for a spouse. For Vision it was $97 for a retiree or surviving
spouse, and $56 for a spouse.
30
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE N OTHER POST-EMPLOYMENT BENEFITS (OPEB), continued
Total OPEB Liability June 30, 2021
Total OPEB liability 4,301,589
Covered employee payroll 45,100,125
Total OPEB liability as a % of covered employee payroll 9.54%
The total OPEB liability was determined by an actuarial valuation as of the valuation date, calculated based on the
discount rate and actuarial assumptions below, and was then projected forward to the measurement date. There
have been no significant changes between the valuation date and the fiscal year end. Any significant changes
during this period must be reflected as prescribed by GASB 75.
Discount Rate
Discount Rate* 2.27%
*The discount rate was based on the average of multiple 6/30/20 municipal bond rate sources.
Changes Since Prior Valuation
None
Changes in Total OPEB Liability
Increase (Decrease)
Changes in total OPEB liability Total OPEB Liability
Balance as of June 30, 2020 3,778,339
Changes for the year:
Service cost 548,323
Interest on total OPEB liability 109,465
Differences in experience -
Changes of assumptions or other inputs 67,752
Benefit payments (202,290)
Balance as of June 30, 2021 4,301,589
Sensitivity Analysis
The following presents the total OPEB liability of the school district, calculated using the discount rate of 2.27%,
as well as what the school district’s total OPEB liability would be if it were calculated using a discount rate that is
1 percentage point lower (1.27%) or 1 percentage point higher (3.27%) than the current rate.
1% Decrease Discount Rate 1% Increase
Total June 30, 2021, OPEB liability 4,575,541 4,301,589 4,035,831
The following presents the total OPEB liability of the school district, calculated using the current healthcare cost
trend rates as well as what the school district’s total OPEB liability would be if it were calculated using trend rates
that are 1 percentage point lower or 1 percentage point higher than the current trend rates.
1% Decrease
Current
Trend Rate 1% Increase
Total June 30, 2021, OPEB liability 3,813,117 4,301,589 4,877,711
31
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE N OTHER POSTEMPLOYMENT BENEFITS (OPEB), continued
July 1, 2020
to
OPEB Expense June 30, 2021
Service cost 548,323
Interest on total OPEB liability 109,465
Recognition of Deferred Inflows/Outflows of Resources
Difference between expected and actual experience (98,511)
Recognition of assumption changes or inputs 21,336
Benefit payments (202,290)
OPEB expense 378,323
Other Post-Employment Benefits Expense and Deferred
Resources Related to Other Post-employment Benefits
Outflows of Resources and Deferred Inflows for
Schedule of Deferred Inflow/Outflows of Resources
Original Deferred Deferred
Original Date Recognition Amount Inflow of Outflow of
Amount Established Period Recognized Resources Resources
Differences between expected and actual
experience/changes in assumptions (115,858) June 30, 2018 15.36 (7,542) (240,047) 146,815
Changes of assumptions or other inputs 137,467 June 30, 2019 14.53 9,460 118,547
Differences between expected and actual
experience/changes in assumptions (1,213,590) June 30, 2020 15.34 (79,093) (1,134,497)
Changes of assumptions or other inputs 67,752 June 30, 2021 14.50 67,752
Total (1,124,229) (77,175) (1,374,544) 333,114
Amounts currently reported as deferred outflows of resources and deferred inflows of resources related to other
post-employment benefits will be recognized in OPEB expense as follows:
Year Ending June 30:
2022 (72,502)
2023 (72,502)
2024 (72,502)
2025 (72,502)
2026 (72,502)
Thereafter (678,920)
*Note that additional future deferred inflows and outflows of resources may impact these numbers.
32
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE O PERSI SICK LEAVE INSURANCE RESERVE FUND
The District contributes to the Sick Leave Insurance Reserve Fund (Sick Leave Plan) which is a cost-sharing
multiple-employer defined benefit OPEB plan that covers members receiving retirement benefits that are
administered by PERSI that covers substantially all employees of the State of Idaho, its agencies and various
participating political subdivisions. The cost to administer the plan is financed through the contributions and
investment earnings of the plan. PERSI issues a publicly available financial report that includes financial
statements and the required supplementary information for the Sick Leave Plan. That report may be obtained on
the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Sick Leave Plan is assigned to the Board comprised of five members
appointed by the Governor and confirmed by the Idaho Senate. State law requires that two members of the Board
be active Base Plan members with at least ten years of service and three members who are Idaho citizens not
members of the Base Plan except by reason of having served on the Board.
OPEB Benefits
Group retiree health, dental, accident, and life insurance premiums may qualify as a benefit. Retirees who have a
sick leave account can use their balance as a credit towards these premiums paid directly to the applicable
insurance company.
Employer Contributions
The contribution rate for employers are set by statute at .065% of covered compensation for state members.
Covered school members contribution rates are set by statute based on the number of sick days offered by the
employer. The contribution rate of 1.16% for school members with nine or ten sick days, 1.26% for school
members with 11-14 sick days. If a school member has more than 14 days of sick leave, then the contribution rate
will be set by the PERSI Retirement Board based on current cost and actuarial data and reviewed annually. PERSI
did not require any District contributions after December of 2019. The District contributions were $0 for the year
ended June 30, 2021 as contributions were suspended on January 1, 2020.
OPEB Liabilities, OPEB Expense (Expense Offset), and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to OPEB
At June 30, 2021, the District reported an asset for its proportionate share of the net OPEB asset. The net OPEB
asset was measured as of June 30, 2020, and the total OPEB liability used to calculate the net OPEB asset was
determined by an actuarial valuation as of that date. The District’s proportion of the net OPEB asset was based on
the District’s share of contributions relative to the total contributions of all participating Sick Leave employers. At
June 30, 2020, the District’s proportion was 3.5226265 percent.
For the year ended June 30, 2021, the District recognized OPEB expense offset of $0. The $0 reported as deferred
outflows of resources related to OPEBs resulting from Employer contributions subsequent to the measurement
date will be recognized as a reduction of the net OPEB asset in the year ending June 30, 2022.
33
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE O PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
At June 30, 2021, the District reported deferred outflows of resources and deferred inflows of resources related to
PERSI OPEB sick leave from the following sources:
Differences between expected and actual experience
Changes in assumptions or other inputs
Net difference between projected and actual earnings on OPEB plan inves
Changes in the employer’s proportion and differences between the emplo
contribution and the employer’s proportionate contributions
District contributions subsequent to the measurement date
Total
Deferred
Outflows of
Resources
456,042
10,180
tments 136,890
yer’s
-
-
603,112
Deferred
Inflows of
Resources
1,109,561
1,109,561
-
-
-
-
Actuarial Assumptions
Valuations are based on actuarial assumptions, the benefit formulas, and employee groups. The Sick Leave Plan
amortizes any net OPEB asset based on a level percentage of payroll. The maximum amortization period for the
Sick Leave Plan permitted under Section 59-1322, Idaho Code, is 25 years. The total OPEB liability in the June
30, 2020, actuarial valuation was determined using the following actuarial assumptions, applied to all periods
included in the measurement:
Inflation 3.25%
Salary increases 3.75%
Salary inflation 3.75%
Investment rate of return 7.05%
The long-term expected rate of return on OPEB plan investments was determined using the building block
approach and a forward-looking model in which best estimate ranges of expected future real rates of return
(expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighing the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation. The health care trend
rate is not applicable as the benefit amount a participant will receive is established with a set amount upon
retirement thus would have no impact.
Even though history provides a valuable perspective for setting the investment return assumption, the System
relies primarily on an approach which builds upon the latest capital market assumptions. Specifically, the System
uses consultants, investment managers and trustees to develop capital market assumptions in analyzing the
System’s asset allocation. The assumptions and the System’s formal policy for asset allocation are shown below.
The formal asset allocation policy is somewhat more conservative than the current allocation of System’s assets.
The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to
expected long-term real returns and reflecting expected volatility and correlation.
34
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE O PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
Capital Market Assumptions
Long-Term Long-Term
Expected Expected
Nominal Rate Real Rate of
Target of Return Return
Asset Class Allocation (Arithmetic) (Arithmetic)
Core Fixed Income
Broad U.S. Equity
Developed Foreign Equities
30.00%
55,00%
15.00%
3.05%
8.30%
8.45%
0.80%
6.05%
6.20%
Assumed Inflation – Mean
Assumed Inflation – Standard Deviation
2.25%
1.50%
2.25%
1.50%
Portfolio Arithmetic Mean Return
Portfolio Standard Deviation
6.75%
12.54%
4.5%
12.54%
Portfolio Long-Term (Geometric) Expected Rate of Return
Assumed Investment Expenses
Portfolio Long-term (Geometric) Expected Rate of Return, Net of Investment Expenses
6.13%
0.40%
5.73%
3.77%
0.40%
3.37%
Portfolio Long-term Expected Real Rate of Return, Net of Investment Expenses
Portfolio Standard Deviation
4.19%
14.16%
Valuation Assumptions Chosen by PERSI Board
Long-term Expected Real Rate of Return, Net of Investment Expenses
Assumed Inflation
Long-Term Expected Nominal Rate of Return, Net of Investment Expenses
4.05%
3.00%
7.05%
Discount Rate
The discount rate used to measure the total OPEB liability was 7.05%. The projection of cash flows used to
determine the discount rate assumed that contributions from plan members will be made at the current
contribution rate. Based on these assumptions, the OPEB plan’s net position was projected to be available to make
all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on
OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB
liability. The long-term expected rate of return was determined net of OPEB plan investment expense but without
reduction for OPEB plan administrative expense.
Sensitivity of the net OPEB asset to changes in the discount rate.
The following presents the Employer's proportionate share of the net OPEB asset calculated using the discount
rate of 7.05 percent, as well as what the Employer's proportionate share of the net OPEB asset would be if it were
calculated using a discount rate that is 1-percentage-point lower (6.05 percent) or 1-percentage-point higher (8.05
percent) than the current rate:
Current
1% Discount 1%
Decrease Rate Increase
(6.05%) (7.05%) (8.05%)
Employer’s proportionate share of the net OPEB liability (asset) (3,771,093) (4,337,431) (4,861,520)
35
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE O PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
OPEB plan fiduciary net position
Detailed information about the OPEB plan's fiduciary net position is available in the separately issued PERSI
financial report. PERSI issues a publicly available financial report that includes financial statements and the
required supplementary information for PERSI. That report may be obtained on the PERSI website at
www.persi.idaho.gov.
Payables to the OPEB plan
At June 30, 2021, the District reported no payables to the defined benefit OPEB plan for legally required
employer contributions and for legally required employee contributions which had been withheld from employee
wages but not yet remitted to PERSI.
NOTE P POST RETIREMENT BENEFITS
The District funds post-retirement benefits on a current basis through PERSI. The District paid 1.16% of the
wages covered by PERSI to the State until January of 2020 for the 2019-2020 school year. At January 1, 2020, the
required contribution rate went to 0.0% for the remainder of the school year and is anticipated to remain at 0%
until December 31, 2021. 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 Q PENSION PLAN
Plan Description
The District contributes to the Base Plan which is a cost sharing multiple-employer defined benefit pension plan
administered by Public Employee Retirement System of Idaho (PERSI or System) that covers substantially all
employees of the State of Idaho, its agencies, and various participating political subdivisions. The cost to
administer the plan is financed through the contributions and investment earnings of the plan. PERSI issues a
publicly available financial report that includes financial statements and the required supplementary information
for PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Base Plan is assigned to the Board comprised of five members appointed
by the Governor and confirmed by the Idaho Senate. State law requires that two members of the Board be active
Base Plan members with at least ten years of service and three members who are Idaho citizens not members of
the Base Plan except by reason of having served on the Board.
Pension Benefits
The Base Plan provides retirement, disability, death, and survivor benefits for eligible members or beneficiaries.
Benefits are based on members’ years of service, age, and highest average salary. Members become fully vested
in their retirement benefits with five years of credited service (5 months for elected or appointed officials).
Members are eligible for retirement benefits upon attainment of the ages specified for their employment
classification. The annual service retirement allowance for each month of credited service is 2.0% (2.3% for
police/firefighters) of the average monthly salary for the highest consecutive 42 months.
36
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE Q PENSION PLAN, continued
The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature.
The Base Plan is required to provide a 1% minimum cost of living increase per year provided the Consumer Price
Index increases 1% or more. The PERSI Board has the authority to provide higher cost of living increases to a
maximum of the Consumer Price Index movement or 6%, whichever is less; however, any amount above the 1%
minimum is subject to review by the Idaho Legislature.
Member and Employer Contributions
Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of
covered compensation and earnings from investments. Contribution rates are determined by the PERSI Board
within limitations, as defined by state law. The Board may make periodic changes to employer and employee
contribution rates (expressed as percentages of annual covered payroll) if current rates are actuarially determined
to be inadequate or in excess to accumulate sufficient assets to pay benefits when due.
The contribution rates for employees are set by statute at 60% of the employer rate. As of June 30, 2020, it was
7.16% for general employees and 8.81% for police and firefighters. The employer contribution rate is set by the
Retirement Board and was 11.94% for general employees and 12.28% for police and firefighters. The District’s
contributions were $7,146,773 for the year ended June 30, 2021.
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
At June 30, 2021, the District reported a liability for its proportionate share of the net pension liability. The net
pension liability was measured as of June 30, 2020, and the total pension liability used to calculate the net pension
liability was determined by an actuarial valuation as of that date. The District proportion of the net pension
liability was based on the District’s share of contributions in the Base Plan pension plan relative to the total
contributions of all participating PERSI Base Plan employers. At June 30, 2020, the District’s proportion was
1.5237711 percent.
For the year ended June 30, 2021, the District recognized pension expense of $12,766,255. At June 30, 2021, the
District reported deferred outflows of resources and deferred inflows of resources related to pensions from the
following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual experience 2,764,575 1,155,366
Changes in assumptions or other inputs 598,408 -
Net difference between projected and actual earnings on pension plan investments 4,055,684 -
Changes in the employer’s proportion and differences between the employer’s
contribution and the employer’s proportionate contributions (292,012) -
District contributions subsequent to the measurement date 7,146,773 -
Total 14,273,428 1,155,366
$7,146,773 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, 2022.
37
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE Q PENSION PLAN, continued
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, 2019, the beginning of the measurement period
ended June 30, 2019, is 4.8 years and 4.7 years for the measurement period ended June 30, 2020.
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:
2021 140,574
2022 1,474,066
2023 1,753,329
2024 2,603,320
Actuarial Assumptions
Valuations are based on actuarial assumptions, the benefit formulas, and employee groups. Level percentages of
payroll normal costs are determined using the Entry Age Normal Cost Method. Under the Entry Age Normal Cost
Method, the actuarial present value of the projected benefits of each individual included in the actuarial valuation
is allocated as a level percentage of each year’s earnings of the individual between entry age and assumed exit
age. The Base Plan amortizes any unfunded actuarial accrued liability based on a level percentage of payroll. The
maximum amortization period for the Base Plan permitted under Section 59-1322, Idaho Code, is 25 years.
The total pension liability in the June 30, 2020, actuarial valuation was determined using the following actuarial
assumptions, applied to all periods included in the measurement:
Inflation 3.00%
Salary increases 3.75%
Salary inflation 3.75%
Investment rate of return 7.05%, net investment expenses
Cost-of-living adjustments 1.00%
Mortality rates were based on the RP – 2000 combined table for healthy males or females as appropriate with the
following offsets:
• Set back 3 years for teachers
• No offset for male fire and police
• Forward one year for female fire and police
• Set back one year for all general employees and all beneficiaries
An experience study was performed for the period July 1, 2013, through June 30, 2017, which reviewed all
economic and demographic assumptions including mortality. The Total Pension Liability as of June 30, 2020 is
based on the results of an actuarial valuation date of July 1, 2020.
The long-term expected rate of return on pension plan investments was determined using the building block
approach and a forward-looking model in which best estimate rates or expected future real rates of return
(expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighing the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation.
38
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE Q 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.
Capital Market Assumptions
Long-Term Long-Term
Expected Expected
Nominal Rate of Real Rate of
Return Target Return
Asset Class Allocation (Arithmetic) (Arithmetic)
Core Fixed Income
Broad U.S. Equity
Developed Foreign Equities
30.00%
55,00%
15.00%
2.8%
8.55%
8.70%
.55%
6.30%
6.45%
Assumed Inflation – Mean
Assumed Inflation – Standard Deviation
2.25%
1.50%
2.25%
1.50%
Portfolio Arithmetic Mean Return
Portfolio Standard Deviation
6.85%
12.33%
4.60%
12.33%
Portfolio Long-Term (Geometric) Expected Rate of Return
Assumed Investment Expenses
Portfolio Long-term (Geometric) Expected Rate of Return, Net of Investment Expenses
6.25%
0.40%
5.85%
3.89%
0.40%
3.49%
Investment Policy Assumptions from PERSI November 2019
Portfolio Long-term Expected Real Rate of Return, Net of Investment Expenses
Portfolio Standard Deviation
4.14%
14.16%
Economic/Demographic Assumptions from Milliman 2018
Valuation Assumptions Chosen by PERSI Board
Long-term Expected Real Rate of Return, Net of Investment Expenses
Assumed Inflation
Long-Term Expected Nominal Rate of Return, Net of Investment Expenses
4.05%
3.00%
7.05%
Discount Rate
The discount rate used to measure the total pension liability was 7.05%. The projection of cash flows used to
determine the discount rate assumed that contributions from plan members will be made at the current
contribution rate. Based on these assumptions, the pension plans’ net position was projected to be available to
make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of
return on pension plan investments was applied to all period of projected benefit payments to determine the total
pension liability. The long-term expected rate of return was determined net of pension plan investment expense
but without reduction for pension plan administrative expense.
39
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE Q PENSION PLAN, continued
Sensitivity of the employer’s proportionate share of the net pension liability to changes in the discount rate.
The following presents the employer’s proportionate share of the net pension liability calculated using the
discount rate of 7.05 percent, as well as what the employer’s proportionate share of the net pension liability would
be if it were calculated using a discount rate that is 1-percentage-point lower (6.05 percent) or 1-percentage-point
higher (8.05 percent) than the current rate:
1% Current 1%
Decrease Discount Increase
(6.05%) Rate (7.05%) (8.05%)
Employer’s proportionate share of the net pension liability (asset) 72,562,848 35,383,980 4,643,114
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, 2021, 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 R COMMITMENTS AND CONTINGENCIES
The District is involved in claims arising from the ordinary course of operations. Among these matters, a suit has
been filed against Pocatello and Bonneville school districts, namely Zeyen v. ALL DISTRICTS AND CHARTER
SCHOOLS. The plaintiff asserts that fees charged by all public schools throughout the state of Idaho are
unconstitutional. The U.S District Court has not yet certified this matter as a class action and discovery has not yet
commenced. The estimated possible loss to the District for these claims is uncertain, as the likelihood of an
unfavorable outcome is unknown. No accrual has been reflected in the financial statements for these matters. In
the opinion of the District’s management, the ultimate disposition of these matters will not have a material
adverse effect on the District’s financial condition.
Due to continuing effects of the novel coronavirus (COVID-19) pandemic, the District's budget for fiscal year
2022 has been negatively impacted. Additional costs have been incurred for transitioning to new learning
methodologies and adapting current facilities resulting in a negative impact to the District. The District cannot
reasonably estimate the future impact of the economic changes as a result of the pandemic.
40
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2021
NOTE S PRIOR PERIOD RESTATEMENT
The District implemented GASB Statement No. 84, Fiduciary Activities and as a result has reclassified its school
activities funds as a special revenue fund. Following are the effect on net position and fund balance as of July 1,
2020 as a result of this restatement:
Beginning balance as originally stated
School Activity funds
Beginning balance, as restated
Net Position
37,741,299
1,493,050
39,234,349
All Nonmajor Funds
4,310,438
1,493,049
5,803,487
NOTE T SUBSEQUENT EVENTS
Management of the District evaluated subsequent
financial statements were available to be issued.
events through October 7, 2021, which was the date the
In July 2021, the District refunded $11,780,000 (2012A) of their bond indebtedness in order to reduce property
tax levy requirements and reduce overall interest payments. There were no other subsequent type events,
identified by management of the District, that are required to be disclosed. There were no other events identified
by management that were required to be disclosed in these financial statements.
41
REQUIRED FINANCIAL INFORMATION
Original
0 0
Bonneville Joint School District #93
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
Fiscal Year Ended June 30, 2021
Favorable
Original Final (Unfavorable)
REVENUES Budget Budget Actual Variance
Property taxes 7,957,806 5,800,000 5,903,517 103,517
Penalties and interest on delinquent taxes 25,000 25,000 39,935 14,935
Earnings on investments 27,429 27,429
Tuition 50,000 50,000 55,483 5,483
Rental 19,500 26,016 27,148 1,132
Other local 416,739 308,653 1,526,194 1,217,541
State apportionment
Base 59,599,179 58,068,906 58,575,246 506,340
Transportation 2,752,097 2,699,742 2,763,824 64,082
Exceptional child 25,000 25,000 11,052 (13,948)
Benefits 8,193,627 8,425,758 8,472,678 46,920
Property tax replacement 248,027 248,027 241,988 (6,039)
Other state revenue 4,029,135 4,982,900 5,058,146 75,246
Total revenues 83,316,109 80,660,003 82,702,640 2,042,638
EXPENDITURES
Instruction
Elementary 22,608,818 22,913,248 21,643,024 1,270,224
Secondary 21,651,699 21,602,709 20,344,704 1,258,005
Alternative school 701,801 765,948 753,131 12,817
Special education program 4,646,403 4,457,263 4,486,334 (29,071)
Special education preschool program 356,406 310,397 303,334 7,063
Gifted and talented 284,045 215,997 134,305 81,692
Interscholastic program 1,184,838 1,186,021 1,160,533 25,488
School activity 215,651 249,020 257,511 (8,491)
Total instruction 51,649,662 51,700,602 49,082,876 2,617,726
Support services
Attendance, guidance, and health 2,933,289 2,969,022 2,917,322 51,700
Special education support services 5,640,115 5,927,488 6,337,563 (410,075)
Instructional improvement 1,116,919 2,118,056 1,933,047 185,009
Educational media 859,493 800,175 836,070 (35,895)
Instruction related technology 1,732,617 1,035,916 984,946 50,970
Total support services 12,282,432 12,850,657 13,008,948 (158,291)
See Independent Auditor's Report.
42
(Unfavorable)
Original
Bonneville Joint School District #93
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
Fiscal Year Ended June 30, 2021
Favorable
Original Final (Unfavorable)
EXPENDITURES, continued Budget Budget Actual Variance
Administration
Board of Education 360,690 403,282 340,406 62,876
District administration 351,764 340,213 342,253 (2,040)
School administration 6,336,464 5,961,534 6,179,941 (218,407)
Total administration 7,048,919 6,705,029 6,862,600 (157,571)
Business Administrative Services
Business operations 1,655,551 1,956,350 1,695,646 260,704
Central services 206,867 215,473 167,837 47,636
Administrative Technology Services 40,000 40,000 11,613 28,387
Total business administrative services 1,902,418 2,211,823 1,875,096 336,727
Operations
Building care (custodial) 5,220,863 3,941,514 3,757,006 184,508
Maintenance 2,872,870 3,189,203 2,769,557 419,646
Security 448,517 505,331 506,183 (852)
Total operations 8,542,250 7,636,048 7,032,746 603,302
Transportation 3,986,809 4,093,447 3,801,679 291,768
Community service 128,163 123,669 77,267 46,402
Total expenditures 85,540,653 85,321,274 81,741,212 3,580,062
Revenues over (under) expenditures (2,224,543) (4,661,271) 961,428 5,622,699
OTHER FINANCING SOURCES (USES)
Operating transfers, net (438,175) (447,013) (446,672) 341
Contingency - budget only (1,693,217) (1,760,588) 1,760,588
Revenues and other financing sources
over (under) expenditures (4,355,935) (6,868,872) 514,756 7,383,628
Fund balance - July 1, 2020 6,868,871
Fund balance - June 30, 2021 7,383,627
See Independent Auditor's Report.
43
oll
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2021
Schedule of Changes in Total OPEB Liability and Related Ratios
As of the measurement date of June 30, 2020
2021 2020 2019 2018
Total OPEB Liability
Service cost 548,323 513,403 512,500 456,245
Interest on total OPEB liabilty 109,465 168,399 147,380 149,723
Differences in experience -(512,762) -(298,301)
Effect of assumption changes or inputs 67,752 (700,828) 137,467 182,443
Expected benefit payments (202,290) (246,776) (197,261) (176,160)
Net change in total OPEB liability 523,250 (778,564) 600,086 313,950
Total OPEB liability, beginning 3,778,339 4,556,903 3,956,817 3,642,867
Total OPEB liability, ending 4,301,589 3,778,339 4,556,903 3,956,817
Covered valuation payroll 45,100,125 43,470,000 45,056,550 43,428,000
Total OPEB liability as a % of covered valuation payr 9.54% 8.69% 10.11% 9.11%
* GASB Statement No. 75 requires ten years of information to be presented in this table. However, until a full 10-
year trend is compiled, the District will present information for those years for which information is available.
See Independent Auditor's Report.
44
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2021
Schedule of Employer's Share of Net OPEB Asset
PERSI-Sick Leave Plan
Last 10 - Fiscal Years*
2020 2019 2018 2017
Employer's portion of net OPEB asset 3.5226265% 3.6101186% 3.3965902% 3.1983609%
Employer proportionate share of the net OPEB asset 4,337,431 3,457,786 2,817,300 2,455,155
Employer's covered-employee payroll 54,260,793 51,263,509 45,756,462 40,809,784
Employer's proportional share of the net OPEB asset
as a percentage of its covered-employee payroll 7.994% 6.745% 6.157% 6.016%
Plan fiduciary net position as a percentage of the
total OPEB asset 152.87% 138.51% 135.69% 136.78%
* GASB Statement No. 75 requires ten years of information to be presented in this table. However, until a full 10-year trend is
compiled, the District will present information for those years for which information is available.
Data reported is measured as of June 30, 2020 (measurement date).
Schedule of Employer Contribution
PERSI-Sick Leave Plan
Last 10-Fiscal Years *
2021 2020 2019 2018
Statutorily required contribution 0 157,357 594,657 530,775
Contributions in relation to the statutorily
required contribution 0 316,207 592,204 529,753
Contribution (deficiency) excess 0 158,851 (2,453) (1,022)
Employer's covered payroll 59,855,707 54,260,793 51,263,509 45,756,462
Contributions as a percentage of covered payroll 0.000% 0.580% 1.160% 1.160%
* GASB Statement No. 75 requires ten years of information to be presented in this table. However, until a full 10-year trend is
compiled, the District will present information for those years for which information is available.
Data reported is measured as of June 30, 2021 (reporting date).
See Independent Auditor's Report.
45
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2021
Schedule of Employer's Share of Net Pension Liability
PERSI-Base Plan Last 10-Fiscal Years *
2020 2019 2018 2017 2016 2015 2014
Employer's portion of net pension liability 1.52377110% 1.50930670% 1.41939760% 1.31157080% 1.30930460% 1.313797300% 1.289265200%
Employers proportionate share of the net pension liability 35,383,980 17,228,315 20,936,362 20,615,640 26,541,615 17,300,573 9,491,010
Employer's covered payroll 54,260,793 51,263,509 45,756,462 40,809,784 38,322,048 36,799,863 34,937,428
Employer's proportional share of the net pension
liability as a percentage of its covered payroll 65.21% 33.61% 45.76% 50.52% 69.26% 47.01% 27.17%
Plan fiduciary net position as a percentage of the total
pension liability 88.22% 93.79% 91.69% 90.68% 87.26% 91.38% 94.95%
* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the District will present information
for those years for which information is available.
Data reported is measured as of June 30, 2020 (measurement date).
Schedule of Employer Contributions
PERSI-Base Plan Last 10-Fiscal Years *
2021 2020 2019 2018 2017 2016
Statutorily required contribution 7,146,771 6,478,739 5,803,029 5,179,631 4,619,668 4,338,056 4,165,744
Contributions in relation to the statutorily
required contribution 7,146,773 6,478,608 5,803,027 5,179,635 4,619,665 4,338,975 4,165,658
Contribution (deficiency) excess 2 (131) (2) 4 (3) 919 (86)
Employer's covered payroll 59,855,707 54,260,793 51,263,509 45,756,462 40,809,784 38,322,048 36,799,863
Contributions as a percentage of covered-payroll 11.9400% 11.9398% 11.3200% 11.3200% 11.3200% 11.3224% 11.3198%
* GASB Statement No. 68 requires ten years of information to be presented in this table. However, until a full 10-year trend is compiled, the District will present information
for those years for which information is available.
Data reported is measured as of June 30, 2021 (reporting date).
See Independent Auditor's Report.
46
2015
Bonneville Joint School District #93
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2021
NOTE A BUDGET ADOPTION
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated
budgets are adopted for the General Fund. All annual appropriations lapse at year end.
See Independent Auditor's Report.
47
This page intentionally left blank.
OTHER FINANCIAL INFORMATION
0 0 0 0
Bonneville Joint School District #93
All Nonmajor Funds
Combining Balance Sheet
June 30, 2021
Public Idaho Improving Perkins III Supporting Bonneville All
Child Federal Special Student Driver's Professional School Substance Basic Migrant IDEA IDEA Professional Effective COVID Education Construction Nonmajor
Nutrition Forest E-rate Projects Activities Ed Technical Technology Abuse Programs ESSER I Education ESSER II School-Age Preschool Medicaid Title IV Technical Title III Instruction Relief Foundation 2016 Funds
ASSETS
Cash and investments 1,748,747 199,521 388,954 331,514 1,761,003 33,991 1,153,816 1,291,614 373,163 25,786 7,308,109
Federal grants/contracts 134,309 4,078 3,450 517,035 14,542 14,585 969,530 389,132 19,476 890,630 132,711 17,916 83,413 102,450 3,293,257
Other receivables 5,311 6 5,317
Supplies inventory 122,533 122,533
Total assets 2,005,589 199,521 393,032 331,514 1,761,003 37,441 1,153,816 1,291,614 373,163 517,035 14,542 14,585 969,530 389,132 19,476 890,630 0 132,711 17,916 83,413 102,450 5,311 25,792 10,729,216
LIABILITIES AND
FUND EQUITY
LIABILITIES
Accounts payable 153,642 37,610 5,632 13,348 6,469 17,088 3,587 7,184 1,502 661 18 4,553 512 3,279 255,085
Accrued wages 155,395 342 18,283 195,630 5,450 38,519 192,119 6,521 540,807 5,471 1,536 27,609 1,187,682
Accrued employee benefits 88,073 66 3,757 63,050 2,698 10,273 123,253 3,636 292,930 1,090 281 5,511 594,618
Interfund payable 254,768 7,358 4,935 920,077 73,742 9,319 56,893 132,711 11,355 77,043 69,330 4,799 1,622,330
Total liabilities 397,110 0 37,610 5,632 13,348 408 28,509 0 17,088 517,035 14,542 14,585 969,530 389,132 19,476 890,630 0 132,711 17,916 83,413 102,450 5,311 3,279 3,659,715
FUND EQUITY
Nonspendable
Restricted
Total fund equity
122,533
1,485,946
1,608,479
199,521
199,521
355,422
355,422
325,882
325,882
1,747,655
1,747,655
37,033
37,033
1,125,307
1,125,307
1,291,614
1,291,614
356,075
356,075 0 0 0 0 0 0 0 0 0 0 0 0 0
22,513
22,513
122,533
6,946,968
7,069,501
Total liabilities
and fund equity 2,005,589 199,521 393,032 331,514 1,761,003 37,441 1,153,816 1,291,614 373,163 517,035 14,542 14,585 969,530 389,132 19,476 890,630 0 132,711 17,916 83,413 102,450 5,311 25,792 10,729,216
See Independent Auditor's Report.
48
0
0 0
0 0 0 0 0 0 0 0 0
Bonneville Joint School District #93
All Nonmajor Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2021
Public Idaho Improving Perkins III Supporting Bonneville All
Child Federal Special Student Driver's Professional School Substance Basic Migrant IDEA IDEA Professional Effective COVID Education Construction Nonmajor
Nutrition Forest E-rate Projects Activities Ed Technical Technology Abuse Programs ESSER I Education ESSER II School-Age Preschool Medicaid Title IV Technical Title III Instruction Relief Foundation 2016 Funds
REVENUES
Earnings on investments 2,171 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (344) 1,827
Food service
Other local
Other state revenue
Federal grants and contracts
47,354
2,113
3,979,624 37,943
346,981 210,609
20,002
2,421,469 5,025
3,700 506,748 1,030,739 158,432
1,613,648 1,192,574 63,931 3,249,628 2,116,560 69,675 3,601,477 150,939 132,711 66,063 271,421 4,768,095
5,311
47,354
2,991,508
1,699,619
21,334,291
Total revenues 4,031,262 37,943 346,981 230,611 2,421,469 8,725 506,748 1,030,739 158,432 1,613,648 1,192,574 63,931 3,249,628 2,116,560 69,675 3,601,477 150,939 132,711 66,063 271,421 4,768,095 5,311 (344) 26,074,599
EXPENDITURES
Instruction
21,964
44,729 9,345
1,210,312
27,309
260,599
244,078
514,071
763,796
150,939 20,076
43,163
2,145,828
1,812,366
1,991
3,320
4,325,780
2,948,106
Elementary
Secondary
Alternative school 515 - -17,881 11,993 8,908 39,297
Interscholastic program 11,830 11,830
Special education program 31,862 -1,283,016 1,151,597 -2,466,475
Special ed preschool program
Summer school
Vocational
Support services
Attendance, guidance, and health
Special ed support services
Instructional improvement
Educational media
Instructional related technology
School administration
Business Administrative Services
Operations
Transportation
Community services
Noninstructional services
Student Activities Facility acquisition
3,723,144
85,189
510
70,594
21,135
29,939
3,333
200
733
7,746
116,835 2,166,864
274,073
727
14,116
12,146
701,890
20,542
102,715
58,549
9,161
275,317
4,512
52,715
320,506
5,912
2,717
112,224
9,964
2,401
100,125
17,806
1,432
7,840
12,792
51,139 3,915
500
677,628
1,277,725
833,544
69,675 126,713
2,323,167
132,711
2,824 271,421
109,208
208,235
11,864
66,173
233,164
15,514
70,750
41,511
32,744
0 0 216,004
200,900
71,341
406,784
226,648
3,477,717
835,030
35,716
1,687,159
255,274
38,457
1,554,648
59,517
2,165
3,771,474
2,166,864 332,839
Total expenditures 3,723,144 0 85,189 318,233 2,166,864 9,345 301,062 722,432 102,715 1,580,648 1,192,574 63,931 3,249,628 2,116,560 69,675 3,601,477 150,939 132,711 66,063 271,421 4,768,095 5,311 216,004 24,914,021
Revenues over (under) expenditures 308,118 37,943 261,792 (87,622) 254,605 (620) 205,686 308,307 55,717 33,000 0 0 0 0 0 0 0 0 0 0 0 0 (216,348) 1,160,578
OTHER FINANCING SOURCES (USES) Proceeds from issuance of debt
Net transfers 46,517
91,919
(33,000)
91,919
13,517
Total other financing sources 46,517 0 0 91,919 0 0 0 0 0 (33,000) 0 0 0 0 0 0 0 0 0 0 0 0 0 105,436
Revenues and other financing sources
over (under) expenditures and other financing sources (uses) 354,635 37,943 261,792 4,297 254,605 (620) 205,686 308,307 55,717 (216,348) 1,266,014
Fund balance - July 1 2020, as restated 1,253,844 161,578 93,630 321,585 1,493,050 37,653 919,621 983,307 300,358 0 0 0 0 0 0 0 0 0 0 0 0 0 238,861 5,803,487
Fund balance - June 30, 2021 1,608,479 199,521 355,422 325,882 1,747,655 37,033 1,125,307 1,291,614 356,075 0 0 0 0 0 0 0 0 0 0 0 0 0 22,513 7,069,501
See Independent Auditor's Report.
49
This page intentionally left blank.
Bonneville Joint School District #93
Schedule of Taxes Receivable
Fiscal Year Ended June 30, 2021
Unearned balance at July 1, 2020
ADDITIONS
2020 Roll charges
Subsequent additions and cancellations
Total additions
DEDUCTIONS
Collections received
Current amount due on taxes collected
by the counties
Total deductions
Unearned balance at June 30, 2021
Total
291,689
5,861,705
(4,391)
5,857,314
3,920,524
1,982,610
5,903,134
245,869
General Fund
2020
0
2019
and prior
291,689
5,861,705
(2,967)
5,858,738
(1,424)
(1,424)
3,730,097
1,975,764
5,705,861
190,427
6,846
197,273
152,877 92,992
See Independent Auditor's Report.
50
Bonneville Joint School District #93
Schedule of Taxes Receivable
Fiscal Year Ended June 30, 2021
Debt Service Fund Capital Projects Fund
Total
329,968
2020
0
2019
and prior
329,968
Total
106,016
2020
0
2019
and prior
106,016
10,242,929
(6,859)
10,236,070
10,242,932
(5,185)
10,237,747
(1,674)
(1,674)
2,829,801
(1,991)
2,827,810
2,829,802
(1,432)
2,828,370
(559)
(559)
6,727,148
3,459,709
10,186,857
6,507,623
3,452,514
9,960,137
219,525
7,195
226,720
1,866,789
956,329
2,823,118
1,797,850
953,816
2,751,666
68,939
2,513
71,452
379,181 277,610 101,574 110,708 76,704 34,005
See Independent Auditor's Report.
51
This page intentionally left blank.
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 an d the standards
applicable to the financial audits contained in the Government Auditing Standards issued by the Comptroller General
of the United States, the financial statements of the governmental activities, each major fund, and the aggregate
remaining fund information of Bonneville Joint School District #93 as of and for the year ended June 30, 2021, 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 7, 2021.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over
financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances
for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion
on the effectiveness of Bonneville Joint School District #93’s internal control. Accordingly, we do not express an
opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements
on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that
there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented
or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies,
in internal control that is less severe than a material weakness, yet important enough to merit attention by those
charged with governance.
Our consideration of the internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant
deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we
consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Bonneville Joint School District #93’s financial statements
are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial
statements. However, providing an opinion on compliance with those provisions was not an objective of our audit
and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance
or other matters that are required to be reported under Government Auditing Standards.
52
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the
results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the District’s internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 7, 2021
53
Bonneville Joint
School District #93
Idaho Falls, Idaho
Annual Federal Financial
Compliance Report
Year Ended June 30, 2021
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH
MAJOR FEDERAL PROGRAM AND REPORT ON INTERNAL CONTROL
OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE
Board of Trustees
Bonneville Joint School District #93
Idaho Falls, Idaho
Report on Compliance for Each Major Federal Program
We have audited Bonneville Joint School District #93’s compliance with the types of compliance requirements
described in the U.S. Office of Management and Budget (OMB) Compliance Supplement that could have a direct
and material effect on the Bonneville Joint School District #93’s major federal programs for the year ended June
30, 2021. Bonneville Joint School District #93’s major federal programs are identified in the summary of
auditor’s results section of the accompanying schedule of findings and questioned costs.
Management’s Responsibility
Management is responsible for compliance with the requirements of laws, regulations, and the terms and
conditions of its federal awards applicable to its federal programs.
Auditor’s Responsibility
Our responsibility is to express an opinion on compliance for Bonneville Joint School District #93’s major federal
programs based on our audit of the types of compliance requirements referred to above. We conducted our
audit of compliance in accordance with auditing standards generally accepted in the United States; the
standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200,
Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Those standards and the Uniform Guidance require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of compliance requirements referred to
above that could have a direct and material effect on a major federal program occurred. An audit includes
examining, on a test basis, evidence about Bonneville Joint School District #93’s compliance with those
requirements and performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for its major federal
program. However, our audit does not provide a legal determination of the District’s compliance.
Opinion on Each Major Federal Program
In our opinion, the District complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on each of its major federal programs for the year
ended June 30, 2021.
1
Report on Internal Control over Compliance
Management of Bonneville Joint School District #93 is responsible for establishing and maintaining effective
internal control over compliance with the types of compliance requirements referred to above. In planning and
performing our audit of compliance, we considered Bonneville Joint School District #93’s internal control over
compliance with the types of requirements that could have a direct and material effect on each major federal
program to determine the auditing procedures that are appropriate in the circumstances for the purpose of
expressing an opinion on compliance for the major federal programs and to test and report on internal control
over compliance in accordance with Uniform Guidance, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of Bonneville Joint School District #93’s internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance
does not allow management or employees, in the normal course of performing their assigned functions, to
prevent or detect and correct, noncompliance with a type of compliance requirement of a federal program on a
timely basis. A material weakness in internal control over compliance is a deficiency, or combination of
deficiencies in internal control over compliance, such that there is a reasonable possibility that material
noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected
and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a
combination of deficiencies, in internal control over compliance with a type of compliance requirement of a
federal program that is less severe than a material weakness in internal control over compliance, yet important
enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over compliance
that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal
control over compliance that we consider to be material weaknesses. However, material weaknesses may exist
that have not been identified.
Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance
We have audited 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, 2021,
and the related notes to the financial statements, which collectively comprise the District's basic financial
statements. We issued our report thereon dated October 7, 2021, which contained unmodified opinions on
those financial statements. Our audit was conducted for the purpose of forming opinions on the financial
statements that collectively comprise the basic financial statements. The accompanying schedule of
expenditures of federal awards is presented for purposes of additional analysis as required by the Uniform
Guidance and is not a required part of the basic financial statements. Such information is the responsibility of
management and was derived from and relates directly to the underlying accounting and other records used to
prepare the basic financial statements. The information has been subjected to the auditing procedures applied
in the audit of the 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 schedule of expenditures of
federal awards is fairly stated in all material respects in relation to the basic financial statements as a whole.
2
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
March <>, 2022
3
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2021
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:
AL Number(s) Name of Federal Program or Cluster
84.027/84.173 Special Education Cluster
21.019 Coronavirus Relief Fund
84.425D Elementary and Secondary School Emergency Relief
Dollar threshold used to distinguish
between type A and type B programs: $750,000
Auditee qualified as low‐risk auditee? Yes X No
4
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2021
SECTION II ‐FINDINGS ‐FINANCIAL STATEMENT AUDITS
NONE
SECTION III ‐FINDINGS AND QUESTIONED COSTS ‐MAJOR FEDERAL AWARD PROGRAMS AUDIT
NONE
5
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2021
Federal Grantor / Pass‐Through Grantor / Program Title
Federal
AL
Number
Pass‐Through
Entity Identifying
Number Expenditure
United States Department of Education
Passed Through Idaho State Department of Education:
Title I Grants to Local Educational Agencies
Total Title I Grants to Local Educational Agencies
84.010 S010A180012
S010A190012
S010A200012
1,000
341,900
1,270,747
1,613,647
Migrant Education ‐Basic State Grant Program
Total Migrant Education ‐Basic State Grant Program
84.011 S011A180012
S011A190012
S011A200012
408
31,165
32,358
63,931
English Language Acquisition
Total English Language Acquisition
84.365 S365A190012
S365A200012
23,714
42,349
66,063
Supporting Effective Instruction
Total Supporting Effective Instruction
84.367 S367A190011
S367A200011
49,113
222,308
271,421
Student Support and Academic Enrichment 84.424 S424A200013 150,939
COVID‐19 ‐Elementary and Secondary School Emergency Relief
Total COVID‐19 – ESSER
84.425D S425D200043
S425D210043
1,107,409
3,249,628
85,165
4,442,202
Special Education Cluster
Special Education – School‐age
Special Education – Preschool
Total Special Education Cluster
84.027
84.173
H027A190088
H027A200088
H183A200030
20,283
2,096,278
69,676
2,186,237
Total Passed Through the Idaho State Department of Education 8,794,442
Passed Through the State Division of Professional‐Technical
Vocational Education ‐Basic Grants to States 84.048 V048A190012 132,711
Total U.S. Department of Education 8,927,151
6
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2021
Federal Grantor / Pass‐Through Grantor / Program Title
Federal
AL
Number
Pass‐Through
Entity Identifying
Number Expenditures
United States Department of Agriculture
Passed Through the Idaho State Department of Education:
Child Nutrition Cluster
Cash Assistance
School Breakfast Program
COVID‐19 ‐School Breakfast Program
National School Lunch Program
COVID‐19 – National School Lunch Program
COVID‐19 – Emergency Food Service Grant
Summer Food Service Program for Children
Non‐Cash Assistance (Commodities)
National School Lunch Program
10.553
10.555
10.559
10.555
202121N109947
202020N850347
202121N109947
202020N850347
202020N109947
485,750
45,965
2,373,027
274,943
11,327
122,552
3,313,563
255,612
Total Child Nutrition Cluster 3,569,176
Fruit and Vegetable Program
Discretionary Grants
10.582
10.579
202020L160347
201616L180330
32,760
27,338
Total U.S. Department of Agriculture 3,629,274
United States Department of Treasury
Passed Through the Idaho State Department of Education:
COVID‐19 – Coronavirus Relief Fund 21.019 4,866,459
Total U.S. Department of Treasury 4,866,459
United States Department of Health and Welfare
Passed Through the Idaho State Department of Health and
Welfare:
Block Grant for Prevention & Treatment of Substance Abuse 93.959 20,002
Total U.S. Department of Health and Welfare 20,002
Total expenditures of federal awards 17,442,886
7
Bonneville Joint School District #93
Notes to Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2021
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, 2021. The information in this schedule is
presented in accordance with the requirements of the Uniform Guidance issued by the Office of Management
and Budget (OMB). Because the schedule presents only a selected portion of the operations of the District, it is
not intended to and does not present the financial position or changes in net assets of the District.
NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the schedule are reported on the modified accrual basis of accounting as described in
Note A to the District’s financial statements. Such expenditures are recognized following the cost principles
contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursements. Negative amounts shown on the schedule represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years. Pass‐through entity identifying
numbers are presented where available.
NOTE C NONMONETARY TRANSACTIONS
Nonmonetary assistance is reported for the Food Distribution Program at fair market value of commodities
received which is established by the State Department of Education. The District held an undetermined amount
of those commodities in inventory at June 30, 2021.
NOTE D INDIRECT COST RATE
The District has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
NOTE E SUBRECIPIENTS
The District had no subrecipients or subrecipient expenditures.
8
Bonneville Joint School District #93
Summary Schedule of Prior Year Audit Findings
Fiscal Year Ended June 30, 2021
The following summarizes the prior audit findings and corrective action taken:
None
9