HomeMy WebLinkAbout2022 Bonneville School District Audit
Bonneville Joint
School District #93
IdahoFalls,Idaho
Annual Financial Report
Year Ended June 30, 2022
Bonneville Joint School District #93
Contents
June 30, 2022
MANAGEMENT’S DISCUSSION & ANALYSIS ........................................................................................... 1-7
INDEPENDENT AUDITOR’S REPORT ........................................................................................................ 8-10
BASIC FINANCIAL STATEMENTS
Government-wide Financial Statements
Statement of Net Position ............................................................................................................................11
Statement of Activities ................................................................................................................................12
Fund Financial Statements
Combined Balance Sheet
Governmental Funds....................................................................................................................................13
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position ..................................................................................................................14
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances............................... 15-16
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures,
And Changes in Fund Balances to the Statement of Activities ...................................................................17
Notes to Financial Statements ...................................................................................................................... 18-41
REQUIRED FINANCIAL INFORMATION
General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual .......................................................................................................................................... 42-43
Medicaid Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Budget to Actual ................................................................................................................................................44
Required Supplementary Information .......................................................................................................... 45-47
Notes to Required Supplementary Information .................................................................................................48
OTHER FINANCIAL INFORMATION
All Nonmajor Funds
Combining Balance Sheet ..................................................................................................................................49
All Nonmajor Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance ............................................50
Schedule of Taxes Receivable ...........................................................................................................................51
Bonneville Joint School District #93
Contents
June 30, 2022
ANNUAL FEDERAL COMPLIANCE SECTION
Independent Auditor’s Report on Internal Control
Over Financial Reporting and on Compliance and Other Matters Based
on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards .................................................................................................................. 52-53
Independent Auditor’s Report on Compliance for Each Major
Federal Program and Report on Internal Control Over
Compliance Required by the Uniform Guidance ......................................................................................... 54-56
Schedule of Findings and Questioned Costs ................................................................................................ 57-58
Schedule of Expenditures of Federal Awards .............................................................................................. 59-60
Notes to Schedule of Expenditures of Federal Awards .....................................................................................61
Summary Schedule of Prior Audit Findings .....................................................................................................62
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2022
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, 2022. 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 2022 are as follows:
In total, net position increased by $11,608,307 which represents an 30.42% increase from the 2021 balance of
$38,161,126.
General revenues accounted for $94,658,319 in revenue or 71.14% 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 $38,399,008 or 28.86% of total revenues of $133,057,327.
Total assets of governmental activities increased by $1,989,142, as cash and cash equivalents increased by
$6,285,382, receivables and prepaid expenses decreased by $2,456,698, inventory increased by $36,843, and
capital assets decreased by $3,922,100. Unrestricted net position, the part of net position that can be used to
finance day-to-day activities without constraints established by grants or legal requirements, of the District
increased by $3,149,639.
The District had $121,449,020 in expenses; only $38,399,008 of these expenses were offset by program specific
charges for services, grants, or contributions. General revenues (primarily state support and local property taxes)
of $94,658,319 were adequate to provide for these programs.
Among major funds, the General Fund had $88,389,252 in revenues, and $87,191,443 in expenditures. The
General Fund’s fund balance decreased $419,346 from 2021.
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, 2022
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 2022?” 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 simil ar 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 13. Fund financial reports provide detailed information
about the District’s major funds. The District uses many funds to account for a multitude of financial transactions.
However, these fund financial statements focus on the District’s most significant funds. The District’s major
governmental funds are the General, Debt Service, Capital Projects, and Medicaid 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, 2022
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 2022 compared to 2021:
2022 2021
Assets
Current and other assets 63,164,929 57,253,687
Capital assets 140,601,467 144,523,567
Total assets 203,766,396 201,777,254
Deferred outflows of resources 24,047,850 16,753,899
Current and other liabilities 14,841,729 15,484,688
Long-term liabilities 116,841,655 161,245,868
Total liabilities 131,683,384 176,730,556
Deferred inflows of resources 46,361,429 3,639,471
Net investment in capital assets 26,273,619 30,006,795
Restricted 36,205,234 26,109,911
Unrestricted (12,709,420) (17,955,580)
Total net position 49,769,433 38,161,126
Total assets of governmental activities increased by $1,989,142, as cash and cash equivalents increased by
$6,285,382, receivables and prepaid expenses decreased by $2,456,698, inventory increased by $36,843, and
capital assets decreased by $3,922,100. The District’s assets and deferred outflows of resources exceeded
liabilities and deferred inflows of resources by $49,769,433 at the close of the most recent fiscal year.
Unrestricted net position, the part of net position that can be used to finance day-to-day activities without
constraints established by grants or legal requirements, of the District increased by $5,246,160.
3
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2022
The following table shows the changes in net position for fiscal years 2022 and 2021:
Revenues
Program revenues
Charges for services
Operating grants and contributions
General revenues
Property taxes
State aid
Federal aid
Other
2022
6,061,292
32,337,716
19,082,470
73,309,645
37,069
2,229,135
2021
3,708,994
31,632,301
19,269,692
67,741,471
37,943
2,345,910
Total revenues 133,057,327 124,736,311
Program expenses
Instruction
Support services
Administrative
Business admin services
Operations
Transportation
Community service
Non-instructional
Interest and fiscal charges
Capital improvements
67,220,419
18,075,795
6,560,179
2,372,767
10,149,225
5,018,346
166,614
7,732,890
3,095,021
1,057,764
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
Total expenses 121,449,020 125,809,534
Increase (decrease) in net position 11,608,307 (1,073,223)
GOVERNMENTAL ACTIVITIES
Governmental revenues come primarily from three sources. State aid of $85,890,037 consists of the state
apportionment, other state grants, and revenue in lieu of taxes, and makes up 64.55% of revenues from
governmental activities. Property taxes of $18,746,033 make up 14.09% of total revenues from governmental
activities. Federal contracts and grants of $21,930,177 make up 16.48% of total revenues from governmental
activities.
Instruction expenditures including the support activities of support services, administrative, business admin
services, operations, and transportation comprise $109,396,731 of District expenses.
4
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2022
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 2022 Services 2022
Instruction 55.35 67,220,419 55,740,594
Support services 14.88 18,075,795 8,408,492
Administrative 5.40 6,560,179 6,389,047
Business admin services 1.95 2,372,767 2,139,897
Operations 8.36 10,149,225 8,073,996
Transportation 4.13 5,018,346 1,789,570
Community service 0.14 166,614 162,876
Non-instructional 6.37 7,732,890 (1,231,965)
Interest and fiscal charges 2.55 3,095,021 617,215
Capital improvements 0.87 1,057,764 960,290
Total expenses 100.00 121,449,020 83,050,012
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 sch ools 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, 2022
Interest and Fiscal Charges: Interest and Fiscal Charges involve the transactions associated with the payment of
interest and other related charges to the debt of the District.
Capital Improvements: Capital Improvements include capital expenditures for the schools that are not capitalized
under the District’s capitalization policy.
THE DISTRICT’S FUNDS
Information about the District’s major funds starts on page 13. These funds are accounted for using the modified
accrual basis of accounting. All governmental funds had total revenues of $133,147,076 and expenditures of
$128,786,682. The net change in fund balance for the year in the General Fund, Debt Service Fund, Capital
Projects Fund, and Medicaid Fund, was a decrease of $419,346, an increase of $4,128,654, an increase of
$460,117, and a change of $0 respectively.
GENERAL FUND BUDGETING HIGHLIGHTS
During the course of fiscal 2022 year, the District did amend its budget.
For the General Fund, the budgeted revenue was $87,635,450 and the budgeted expense was $90,449,899. Actual
revenue was $88,389,252 which includes $736,578 for leadership premiums to qualifying personnel and $361,087
in professional development funds. Actual expenditures were $87,191,443, which include expenditures related to
the leadership premiums and professional development.
CAPITAL ASSETS
At the end of the fiscal year 2022, the District had $140,601,467 invested in land, buildings, furniture and
equipment, and vehicles (net of accumulated depreciation).
2022 2021
Non-depreciable assets 6,912,839 34,862,347
Buildings and improvements 129,909,984 105,918,350
Equipment 1,906,233 1,740,984
Vehicles 1,872,411 2,001,886
Total capital assets, net 140,601,467 144,523,567
Overall capital assets decreased $3,922,100 from fiscal year 2021 to fiscal year 2022. Decrease in capital assets is
due to the completion of the new middle school, and additional purchases of equipment netted with the Districts
depreciation for the year of $7,347,900.
DEBT ADMINISTRATION
At June 30, 2022, the District had five general obligation bond issues as follows:
Due within
Total one year
2012C Series Bond 1,100,000 1,100,000
2016A Series Bond 47,370,000 1,085,000
2016B Series Bond 15,405,000 1,895,000
2018 Series Bond 28,905,000
2021 Series Bond 11,700,000 2,430,000
Total 104,480,000 6,510,000
At June 30, 2022, the District’s overall legal debt margin was $214,893,539.
6
Bonneville Joint School District #93
Management’s Discussion & Analysis
Fiscal Year Ended June 30, 2022
Under the changes of GASB 87, the 2021 capital lease obligation was transitioned to a finance purchase long-
term debt obligation. At June 30, 2022, the District had outstanding finance purchase obligations of $66,498.
CURRENT FINANCIAL ISSUES AND CONCERNS
Bonneville Joint School District 93 continues to be financially stable. The Idaho Legislature has continued to
increase funding for Idaho schools. Due to lower statewide attendance rates due to COVID -19 and other
illnesses, schools were again funded on enrollment. Enrollment will again be used for funding in the upcoming
school year. Enrollment in our schools continues to increase, which brings additional state funding.
With continued enrollment growth, along with all day kindergarten that began in the FY 2023 school year, district
administration continues to plan and work with the school board in an effort to provide adequate facilities for our
students. We are nearing or have exceeded capacity for some of our schools, and are anticipating that the school
board will authorize a bond election in March 2023 for additional facilities. We have sold or are in process of
selling three properties deemed surplus that will provide additional funds to address facility needs.
Federal ESSER funds continue to be used to backfill Emergency Levy Funds the board has chosen not to collect.
Once ESSER funds have all been used, the board will have to determine if Emergency Levy Funds will be
collected again, or if budget reductions will be made. The Idaho Legislature met on September 1, 2022 in a
special session and directed additional funds be appropriated to schools during the upcoming legislative session.
Early estimates show that the new funds coming to our district could replace the ESSER and Emergency Levy
Funds, if the funds received are not earmarked for specific line items.
COMPONENT UNIT
These financial statements do not include the Bonneville Education Foundation, a component unit of the District.
The financial information for the Foundation will be available at the District office.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, investors, and creditors with a general
overview of the District’s finances and to show the District’s accountability for the money it receives. If you have
questions about this report or need additional financial information contact Guy Wangsgard, Chief Financial/
Operations Officer, at Bonneville Joint School District #93, 3497 North Ammon Road, Idaho Falls, Idaho 83401
or email at GuyW@d93.k12.id.us.
7
INDEPENDENT AUDITOR’S REPORT
Board of Trustees
Bonneville Joint School District #93
3497 N. Ammon Road
Idaho Falls, Idaho
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of the Bonneville Joint School District #93 (the District), as of and for the
year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the
district basic financial statements as listed in the table of contents.
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 the Bonneville Joint School District #93, as of June 30, 2022, and the respective changes in financial position
for the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Our responsibilities under those standards are further described in the
Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be
independent of the Bonneville Joint School District #93, and to meet our other ethical responsibilities, in
accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Change in Accounting Principle
As described in Note A to the financial statements, in 2022, the District adopted new accounting guidance, GASB
Statement No. 87, Leases. Our opinion is not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for 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.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about the Bonneville Joint School District #93’s ability to
continue as a going concern for twelve months beyond the financial statement date, including any currently
known information that may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee
that an audit conducted in accordance with generally accepted auditing standards will always detect a material
misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than
for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control. Misstatements are considered material if there is a substantial likelihood that,
individually or in the aggregate, they would influence the judgment made by a reasonable user based on the
financial statements.
8
In performing an audit in accordance with generally accepted auditing standards and Government Auditing
Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit 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 Bonneville Joint School District #93 internal control. Accordingly, no such opinion
is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the Bonneville Joint School District #93 ability to continue as a going concern for
a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control-related matters that we
identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America 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 be presented to supplement the basic financial
statements. Such information is the responsibility of management and, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part
of financial reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted of
inquiries of management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we
obtained during our audit of the basic financial statements. We do not express an opinion or provide any
assurance on the information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the Bonneville Joint School District #93 basic financial statements. The combining and individual
nonmajor fund financial statements, schedule of taxes receivable, and schedule of expenditures of federal awards,
as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, are presented for purposes of additional analysis and are
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
basic financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the basic financial statements
or to the basic financial statements themselves, and other additional procedures in accordance with auditing
standards generally accepted in the United States of America. In our opinion, the schedules referred to above are
fairly stated, in all material respects, in relation to the basic financial statements as a whole.
9
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated October 11, 2022, on
our consideration of the 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, and grant agreements and other
matters. The purpose of that report is solely 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 the
District’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 District’s internal control over
financial reporting and compliance.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 11, 2022
10
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Bonneville Joint School District #93
Statement of Net Position
June 30, 2022
Governmental
Activities
ASSETS
Cash and investments 45,322,684
Property tax receivable, net 6,924,554
Other receivables 4,375,169
Supplies inventory 159,376
PERSI sick leave 5,115,573
Net PERSI asset 1,267,573
Land and construction in progress 6,912,839
Depreciable buildings, equipment, and vehicles, net of depreciation 133,688,628
Total assets 203,766,396
DEFERRED OUTFLOWS OF RESOURCES
Changes of assumptions and other inputs - OPEB 307,094
Changes of assumptions and other inputs - PERSI SL 1,330,747
Related to pensions 22,410,009
Total deferred outflows of resources 24,047,850
LIABILITIES
Accounts payable 1,386,085
Accrued wages 8,654,167
Accrued employee benefits 3,313,249
Grants received in advance 81,877
Interest payable 1,406,351
Long-term liabilities
Portion due or payable within one year
General obligation bonds/premium 7,798,201
Finance purchase agreements 21,765
Other liabilities 255,903
Portion due or payable after one year
General obligation bonds/premium 106,463,149
Finance purchase agreements 44,733
Other post employment benefits 2,257,904
Total liabilities 131,683,384
DEFFERED INFLOWS OF RESOURCES
Differences between expected & actual experience - OPEB 3,474,541
Differences between expected & actual experience - PERSI SL 2,336,620
Related to pensions 40,550,268
Total deferred inflows of resources 46,361,429
NET POSITION
Net investment in capital assets 26,273,619
Restricted for
Capital improvements 10,521,340
Debt service 15,118,358
Child nutrition 2,634,072
Other 7,931,464
Unrestricted (12,709,420)
Total net position 49,769,433
The accompanying notes are an integral part of these statements.
11
0
0
Bonneville Joint School District #93
Statement of Activities
Fiscal Year Ended June 30, 2022
Functions / Programs
Governmental activities
Instruction
Support services
Administrative
Business admin services
Operations
Transportation
Community service
Noninstructional
Interest on long-term debt
Capital improvements
Expenses
67,220,419
18,075,795
6,560,179
2,372,767
10,149,225
5,018,346
166,614
7,732,890
3,095,021
1,057,764
Program Revenues
Operating Capital
Charges for grants and grants and
services contributions contributions
1,585,526 9,894,299
4,329,911 5,337,392
24,037 147,095
232,870
2,075,229
121,818 3,106,958
3,738
8,964,855
2,477,806
97,474
Net (expense)
revenue and
changes in
net position
Total
governmental
activities
(55,740,594)
(8,408,492)
(6,389,047)
(2,139,897)
(8,073,996)
(1,789,570)
(162,876)
1,231,965
(617,215)
(960,290)
Total governmental activities 121,449,020 6,061,292 32,337,716 0 (83,050,012)
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
18,746,033
336,437
37,069
73,251,924
57,721
(45,863)
2,187,239
87,759
Total general revenues 94,658,319
Change in net position 11,608,307
Net position - beginnng 38,161,126
Net position - ending 49,769,433
The accompanying notes are an integral part of these statements.
12
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
Combined Balance Sheet
Governmental Funds
June 30, 2022
ASSETS
Cash and investments
Receivables
Taxes - current
Taxes - delinquent
State apportionment
Federal grants/contracts
Other
Interfund receivable
Supplies inventory
General
13,425,604
1,980,683
176,889
433,087
76,702
2,580,219
Debt
Service
11,386,823
3,426,216
297,882
3
7,934
Capital
Projects
7,547,343
959,405
83,479
Medicaid
2,193,126
All
Nonmajor
Funds
12,962,914
1,511,886
152,431
159,376
Total
Governmental
Funds
45,322,684
6,366,304
558,250
2,626,216
1,511,886
237,067
2,580,219
159,376
Total assets 18,673,184 15,118,858 8,590,227 2,193,126 14,786,607 59,362,002
LIABILITIES
Accounts payable
Accrued wages
Accrued employee benefits
Interfund payable
Grants received in advance
860,459
7,703,740
2,885,937
81,877
500 165,418 23,485
254,109
135,561
1,779,971
336,223
696,318
291,751
800,248
1,386,085
8,654,167
3,313,249
2,580,219
81,877
Total liabilities 11,532,013 500 165,418 2,193,126 2,124,540 16,015,597
DEFERRED INFLOWS OF RESOURCES
Unavailable revenue 176,889 297,882 83,479 0 0 558,250
FUND BALANCES
Nonspendable
Inventory
Restricted for
Debt service
Child nutrition
Other fund activities
Assigned 6,964,283
14,820,476
8,341,330
159,376
2,474,696
10,027,995
159,376
14,820,476
2,474,696
18,369,325
6,964,283
Total fund balances 6,964,282 14,820,476 8,341,330 0 12,662,067 42,788,155
Total liabilities, deferred
inflows of resources,
and fund balances 18,673,184 15,118,858 8,590,227 2,193,126 14,786,607 59,362,002
The accompanying notes are an integral part of these statements.
13
Bonneville Joint School District #93
Reconciliation of the Governmental Funds Balance Sheet
to the Statement of Net Position
June 30, 2022
Total fund balances - governmental funds 42,788,155
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. (9,781,350)
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 asset is $1,267,573, deferred inflows of resources related to pensions is
$40,550,268 and deferred outflows of resources related to pensions is $22,410,009. (16,872,686)
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 $5,115,573, deferred inflows of resources related to
PERSI sick leave is $2,336,620 and deferred outflows of resources related to PERSI
sick leave is $1,330,747. 4,109,700
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
$238,999,334 and the accumulated depreciation is $98,397,867. 140,601,467
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. 558,250
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. (3,167,447)
Long-term liabilities at year end consisted of:
Bonds payable (104,480,000)
Accrued interest on the bonds (1,406,351)
Compensated absences (255,903)
Financed purchases (66,498)
OPEB obligation (2,257,904)
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.
(108,466,656)
Total net position - governmental activities 49,769,433
The accompanying notes are an integral part of these statements.
14
Bonneville Joint School District #93
Governmental Fund Types
Combined Statement of Revenues, Expenditures, and Changes in Fund Balances
Fiscal Year Ended June 30, 2022
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, 2022
All Total
Debt Capital Nonmajor Governmental
General Service Projects Medicaid Funds Funds
REVENUES
Property taxes 5,884,181 10,109,539 2,835,079 18,828,799
Penalties and interest
on delinquent taxes 36,409 43,865 14,468 94,742
Earnings on investments (20,243) (12,959) (12,661) (45,863)
Food service 39,682 39,682
Rental 56,952 56,952
Other local 703,167 74,544 5,574,839 6,352,550
State apportionment
Base 64,462,386 64,462,386
Transportation 2,976,571 2,976,571
Exceptional child 129,938 129,938
Benefits 8,789,538 8,789,538
Property tax replacement 252,509 83,928 336,437
Other state revenue 5,117,844 2,477,806 1,599,517 9,195,167
Federal grants and contracts 5,896,533 16,033,644 21,930,177
Total revenues 88,389,252 12,702,179 2,924,091 5,896,533 23,235,021 133,147,076
EXPENDITURES
Current
Instruction 55,310,580 361,996 1,585,526 7,270,690 64,528,792
Support services 10,482,219 198,683 4,311,007 3,909,892 18,901,801
Administration 6,815,231 29,051 168,577 7,012,859
Business operations 1,923,444 362,727 86,596 2,372,767
Operations 7,904,729 1,432,489 1,233,557 10,570,775
Transportation 4,270,278 420,936 130,387 4,821,601
Other support services
Community services 162,876 3,738 166,614
Noninstructional 8,100,432 8,100,432
Debt service 8,573,525 8,573,525
Facility acquisition 322,086 334,450 3,080,980 3,737,516
Total expenditures 87,191,443 8,573,525 3,140,332 5,896,533 23,984,849 128,786,682
Revenues over
(under expenditures) 1,197,809 4,128,654 (216,241) 0 (749,828) 4,360,394
The accompanying notes are an integral part of these statements.
15
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, 2022
General
OTHER FINANCING
SOURCES (USES)
Proceeds from sale of capital assets
Operating transfers, net (1,617,155)
Total other financing
sources (uses) (1,617,155)
Debt
Service
0
Capital
Projects
253,850
422,508
676,358
Medicaid
0
All
Nonmajor
Funds
1,194,647
1,194,647
Total
Governmental
Funds
253,850
0
253,850
Revenues and other financing sources
over (under) expenditures (419,346) 4,128,654 460,117 444,819 4,614,244
Fund balance - July 1, 2021 7,383,628 10,691,822 7,881,213 0 12,217,248 38,173,911
Fund balance - June 30, 2022 6,964,282 14,820,476 8,341,330 0 12,662,067 42,788,155
The accompanying notes are an integral part of these statements.
16
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, 2022
Total net change in fund balances - governmental funds: 4,614,244
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
3,881,371resources 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. (3,922,101)
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 $177,508 this year. (177,508)
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 5,593,796differences.
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. 3,081,209
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 (1,462,704) debt and related items.
Change in net position of governmental activities 11,608,307
The accompanying notes are an integral part of these statements.
17
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Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1. General. The basic financial statements listed in the table of contents have been prepared in accordance with
the American Institute of Certified Public Accountants’ Industry Audit Guide for Audits of State and Local
Government Units.
2. Reporting Entity. The Bonneville Joint School District #93 (the District) is the basic level of government,
which has financial accountability and control over all activities related to the public-school education in the
area served. The District receives funding from local, state, and federal government sources and must comply
with the requirements of these funding source entities. The District is not included in any other governmental
“reporting entity” as defined by GASB pronouncement, since Board members are elected by the public and
have decision making authority, the authority to levy taxes, the power to designate management, the ability to
significantly influence operations, and primary accountability for fiscal matters.
3. Discretely Presented Component Unit. The Bonneville Joint School District #93 Education Foundation (the
Foundation) is responsible for fund raising to support the District. The Board of the Foundation is appointed
by the District and is accountable to the District. The Foundation is a non-profit organization and is presented
on the accrual basis of accounting. The District has elected not to include the Foundation at June 30, 2022, 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 on major
governmental funds, each reported in a separate column. All remaining governmental funds are aggregated
and reported as nonmajor funds. Major individual governmental funds are reported as separate columns in the
fund financial statements.
Governmental Fund Types:
General Fund -The General Fund is the general operating fund of the District. It is used to account for all
financial resources except those required to be accounted for in another fund.
18
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
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.
Medicaid Fund -The Medicaid Fund is used to account for the costs of servicing children’s needs under the
Medicaid program.
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 secto r and to provide
the user with more managerial analysis regarding the financial results and the District’s financial outlook.
Government-wide Financial Statements
The government-wide financial statements (Statement of Net Position and Statement of Activities) display
information about the reporting government as a whole. These statements include all the financial activities of
the District, except for its fiduciary funds. Generally, the effect of material interfund activity has bee n
removed from the government-wide financial statements.
The Statement of Activities demonstrates the degree to which the direct expenses of given functions are offset
by program revenues. Direct expenses are those that are clearly identifiable with a specific function.
Program revenues include charges to customers or applicants who purchase, use, or directly benefit from
goods, services, or privileges provided by a given function and grants and contributions that are restricted to
meeting the operational or capital requirements of a particular function. Taxes and other internally directed
revenues are reported instead as general revenues.
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a
liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues
in the year for which they are levied. Grants and similar items are recognized as revenue as soon as eligibility
requirements imposed by the provider have been met.
The District applies restricted resources first when an expense is incurred for which both restricted and
unrestricted resources are available. Depreciation has been allocated specifically to functional areas with the
majority of it being allocated to instructional. Interest on long-term debt is considered an indirect expense and
is reported separately on the Statement of Activities.
19
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
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 perio d. 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 and Medicaid
budget in 2022.
Encumbrances represent commitments related to unperformed contracts for goods or services. Encumbrance
accounting (under which purchase orders, contracts, and other commitments for the expenditures of resources
are recorded to reserve that portion of the applicable appropriation) is utilized in the governmental funds.
Encumbrances outstanding at year-end are reported as assigned fund balance to indicate an obligation to the
District.
The District budgets transfers from the General Fund to other funds to cover the costs incurred by these funds
in excess of the revenues generated. Certain indirect costs are char ged to several Special Revenue Funds
through budgeted transfers from the Special Revenue Funds to the General Fund.
8. Cash and Investments. Cash includes amounts in demand as well as short -term investments with a maturity
date within three months of the date acquired by the District. The District pools cash of all funds into common
bank accounts. The accounting records of each fund reflect its interest in the pooled cash. Any deficiencies in
cash of individual funds represent liabilities to other funds for cash borrowed. Under state law, the District
may deposit funds in demand deposits, interest-bearing demand deposits, or time deposits with state banks or
credit unions organized under Idaho Law, and national banks or credit unions located in Idaho.
20
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
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 initia l 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 acquisition value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the
life of the asset are not capitalized. Buildings, improvements, and equipment assets are depreciated using the
straight-line depreciation method over the following estimated useful lives:
Assets Years
Buildings 30
Equipment 3-15
Vehicles 3-8
21
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
12. Compensated Absences. Employees are entitled to certain compensated absences based on their length of
employment. The entire compensated absences owed are reported in the government-wide financial
statement.
13. Other Post-Employment Benefits. PERSI employees who retire and have not yet become eligible for Federal
Medicare coverage are eligible to purchase insurance through the District’s healthcare plan. Although retirees
pay their own premium, there is an implicit cost due to increased group premiums when retirees are included
in District insurance plans. For the purpose of measuring the net other post -employment benefit liability,
deferred outflows of resources and deferred inflows of resources related to other post -employment benefits,
and other post-employment benefit expenses, information about fiduciary net position of the implicit medical
benefit Plan and additions to/deductions from the Plan’s fiduciary net position have been determined on the
same basis as they are reported by the Plan. Benefit payments are recognized when due and payable in
accordance with the benefit terms.
For purposes of measuring the net OPEB asset, deferred outflows of resources, and deferred inflows of
resources related to OPEB, and OPEB expense; (expense offset), information about the fiduciary net position
of the Pubic Employee Retirement System of Idaho (PERSI or System) Sick Leave Insurance Reserve fund
and additions to/deductions from Sick Leave Insurance Reserve Fund’s fiduciary net position have been
determined on the basis as they are reported by the Sick Leave Plan. For this purpose, benefit payments are
recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
14. Pensions. For purposes of measuring the net pension liability and pension expense, information about the
fiduciary net position of the Public Employee Retirement System of Idaho Base Plan (Base Plan) and
additions to/deductions from Base Plan’s fiduciary net position have been determined on the same basis as
they are reported by the Base Plan. For this purpose, benefit payments (including refunds of employee
contributions) are recognized when due and payable in accordance with the benefit terms. Investments are
reported at fair value.
15. Deferred Outflows / Inflows of Resources. In addition to assets, the Statement of Net position will sometimes
report a separate section for deferred outflows of resources. This separate financial statement element,
deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and
so will not be recognized as an outflow of resources (expense/expenditure) until then. The District has several
items that qualify for reporting in this category and they occur on the government-wide Statement of Net
Position. The first item is a deferred charge on refunding that results from the difference in the carrying value
of refunded debt and its reacquisition price and is amortized over the shorter of the life of the refunded or
refunding debt. The District also reports deferred outflows of resources related to pensions for its
proportionate shares of collective deferred outflows of resources related to pensions and District contributions
to pension plans subsequent to the measurement date of the collective net pension liability. The last two
deferred outflows result from changes of assumptions or other inputs on the OPEB obligations and PERSI SL
asset.
In addition to liabilities, the Statement of Net Position will sometimes report a separate section for deferred
inflows of resources. This separate financial statement element, deferred inflows of resources, represents an
acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of
resources (revenue) until that time.
22
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
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. Lease Accounting. The District is a lessee in multiple noncancelable operating and financing leases. If the
contract provides the District the right to substantially all the economic benefits and the right to direct the use
of the identified asset, it is considered to be or contain a lease. Right -of-use (ROU) assets and lease liabilities
are recognized at the lease commencement date based on the present value of the future lease payments over
the expected lease term. The ROU asset is also adjusted for any lease prepayments made, lease incentives
received, and initial direct costs incurred.
The lease liability is initially and subsequently recognized based on the present value of its futu re lease
payments. Variable payments are included in the present value when the underlying rate or index is fixed and
predictable for the life of the lease. Variable costs that depend on an unpredictable index are accounted for as
expenses as they are incurred. Increases (decreases) to variable lease payments due to subsequent changes in
an index or rate are recorded as variable lease expense (income) in the future period in which they are
incurred.
The discount rate used is the implicit rate in the lease contract, if it is readily determinable, or the District’s
incremental borrowing rate. The implicit rates of the District’s leases are not readily determinable and
accordingly, the District has elected to use the State’s Diversified Bond Fund (DBF) portfolio rate. This rate
is used to calculate the present value of future lease payments. This rate is an alternative investment rate for
other than short-term investments and is materially the same as the rate the District might incur from an
external lender.
The ROU asset for operating leases is subsequently measured throughout the lease term at the amount of the
remeasured lease liability (i.e., present value of the remaining lease payments), plus unamo rtized initial direct
costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives
received, and any impairment recognized. The ROU asset for finance leases is amortized on a straight -line
basis over the lease term.
For all underlying classes of assets, the District has elected to not recognize ROU assets and lease liabilities
for short-term leases that have a lease term of 12 months or less at lease commencement and do not include an
option to purchase the underlying asset that the District is reasonably certain to exercise. Leases containing
termination clauses in which either party may terminate the lease without cause and the notice period is less
than 12 months are deemed short-term leases with lease costs included in short-term lease expense. The
District recognizes short-term lease cost on a straight-line basis over the lease term.
23
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
In addition, under the new standard, the District has adopted a policy which evaluates the material nature of
long-term leases as a group. For group calculations which fall below the policy threshold for recording, the
District will not recognize the lease liability and ROU, and will instead expense these costs as incurred.
Copier leases is one such group.
18. 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.
19. 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.
20. 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 only be used for the specific purposes determined by a formal
action of the District’s highest level of decision-making authority. The School Board is the highest level of
decision-making authority for the District that can, by board action prior to the end of the fiscal year, commit
fund balance. Once adopted, the limitation imposed by the board resolution remains in place until a similar
action is taken (the adoption of another resolution) to remove or revise the limitation. This classification also
includes contractual obligations to the extent that existing resources in the fund have been specifically
committed for use in satisfying those contractual requirements.
Assigned fund balance: This classification reflects the amounts constrained by the District’s “intent” to be
used for specific purposes but do not meet the criteria to be classified as restricted or committed. The School
Board has by resolution authorized management to assign fund balance. The board may also assign fund
balance as it does when appropriating fund balance to cover a gap between estimated revenue and
appropriation in the subsequent year’s appropriated budget. Assigned fund balances include all remaining
amounts (except negative balances) that are reported in governmental funds, other than the General Fund, that
are not classified as nonspendable and are neither restricted nor committed.
Unassigned fund balance: This fund balance is the residual classification for the General Fund. It is also used
to report negative fund balances in other governmental funds.
24
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
21. 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 liabili ties. Settled claims
resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal
years.
22. 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.
23. Reclassifications. Certain reclassifications have been made to the 2021 financial statement information to
confirm to the 2022 classifications.
24. Recently Adopted Accounting Pronouncement. In June 2017, the Governmental Accounting Standards Board
(GASB) issued GASB Statement No. 87, Leases. The statement enhances the relevance and consistency of
reporting for the District's leasing activities by establishing requirements for lease accounting based on the
principle that leases are financings of underlying right-to-use assets. A lessee is required to recognize a lease
liability and intangible right-to-use lease asset, and a lessor is required to recognize a lease receivable and
deferred inflow of resources. The District adopted this guidance retroactively for the year ended June 30,
2022. The adoption of this guidance did not affect beginning net position and, accordingly, restatement of
beginning July 1, 2021, net position was not necessary.
25. Upcoming Accounting Pronouncements. GASB Statement No. 94 – Public/Private and Public/Public
Partnership Arrangements: Issued to improve financial reporting related to public-private and public-public
partnership arrangements (PPPs). Effective for the fiscal year ending June 30, 2023.
GASB Statement No. 96 – Subscription Based Information Technology Arrangements: Issued to provide
guidance on the accounting and financial reporting for subscription-based information technology
arrangements (SBITAs) for government end users. Effective for the fiscal year ending June 30, 2023.
GASB Statement No. 91, Conduit Debt Obligations: Issued May 2019, the objective of this statement is to
provide for a single method of reporting conduit debt obligations by issuers and eliminate diversity in
practice. This statement is effective for the fiscal year ending June 30, 2023.
GASB Statement No. 92 – Omnibus 2020: Issued to enhance comparability in accounting and financial
reporting and to improve the consistency of authoritative literature relative to certain GASB Statements.
Effective for the fiscal year ending June 30, 2023.
25
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE B CASH AND INVESTMENTS
At June 30, 2022, the carrying amount of District cash was $23,537,610 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 23,049,080
Totals 24,049,080
At June 30, 2022, 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 21,824,358 21,785,074 150 Days
Total investments 21,824,358 21,785,074
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, 2022, $23,049,080 of the District’s deposits and certificates of deposit were exposed to custodial credit risk
because it was uninsured and uncollateralized. Of the investments, $21,785,074 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. Amount s 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.
26
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE C INTERFUND RECEIVABLES AND PAYABLES
During the course of its operations, the District had numerous transactions between funds to finance operations,
provide services, construct assets, and service debt. To the extent that certain transactions between funds had not
been paid or received as of June 30, 2022, balances of interfund amounts receivable or payable have been
recorded. The interfund balances at June 30, 2022, were as follows:
Receivable Payable
General Fund 2,580,219
Medicaid Fund 1,779,971
Nonmajor Funds 800,248
Total 2,580,219 2,580,219
The General Fund transferred $115,644 to Child Nutrition and $385,476 to Plant Facilities as required by State
law. The federal programs transferred $85,500 to the General Fund as budgeted for payment of indirect costs. The
driver’s ed program was discontinued, and all funds were transferred to the capital projects fund to repay assets
purchased in past years amounting to $37,032. The General fund moved the wind energy (unrestricted) fund to
fund 235 in the amount of $1,201,535.
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 delinq uency. 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, 2022, the District contracted with various contractors to do certain projects,
revisions, and additions. The following construction contracts were in progress at June 30, 2022:
Expenditures Remaining
Original bid Average Recorded Construction
Project plus changes % complete Currently obligation
Maintenance Shed @BCMS 56,777 70.4% 39,997 16,780
Total 56,777 39,997 16,780
27
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE F CAPITAL ASSETS
Following is a summary of the capital assets at June 30, 2022:
Capital assets, not being depreciated
Elementary
Secondary
Construction in progress
Balance at
June 30, 2021
3,039,416
2,727,140
29,095,791
Additions
1,272,375
39,997
Deletions
(166,089)
Transfers
(29,095,791)
Balance at
June 30, 2022
2,873,327
3,999,515
39,997
Total capital assets, not being depreciated 34,862,347 1,312,372 (166,089) (29,095,791) 6,912,839
Capital assets, being depreciated
Buildings
Elementary
Secondary
Administration
Total buildings
72,265,772
108,822,586
4,761,530
185,849,888
1,336,596
1,336,596 0
29,095,791
29,095,791
72,265,772
139,254,973
4,761,530
216,282,275
Equipment
Elementary
Secondary
Administration
Total equipment
1,160,966
2,195,479
2,416,425
5,772,870
169,850
248,745
103,390
521,985
(46,457)
(46,457) 0
1,330,816
2,444,224
2,473,358
6,248,398
Vehicles 9,344,714 420,936 (209,828) 0 9,555,822
Total capital assets, being depreciated 200,967,472 2,279,517 (256,285) 29,095,791 232,086,495
Less accumulated depreciation for:
Buildings
Equipment
Vehicles
(79,931,538)
(4,031,886)
(7,342,828)
(6,440,753)
(356,736)
(550,411)
46,457
209,828
(86,372,291)
(4,342,165)
(7,683,411)
Total accumulated depreciation (91,306,252) (7,347,900) 256,285 0 (98,397,867)
Total capital assets being depreciated, net 109,661,220 (5,068,383) 0 29,095,791 133,688,628
Governmental activities capital assets, net 144,523,567 (3,756,011) (166,089) 0 140,601,467
Depreciation expense was charged to the functions of the primary government as follows:
Governmental activities
Instruction 6,515,712
Operations 281,777
Transportation 550,411
Total depreciation expense – governmental activities 7,347,900
28
11,15911
28
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE G GENERAL OBLIGATION BOND ISSUES
The District had five general obligation bond issues (2012C, 2016A, 2016B, 2018 and 2021 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 2016A and 2016B bonds are scheduled to mature September 2033 and September 2028,
respectively. The 2018 bond is scheduled to mature September 2035. The 2021 bond is scheduled to mature
September 2028. Future debt service requirements are as follows:
Fiscal Year Ended
June 30, Total Interest Principal
2023 11,186,674 4,676,674 6,510,000
2024 11,176,800 4,376,800 6,800,000
2025 11,171,625 4,061,625 7,110,000
2026 11,159,800 3,729,800 7,430,000
2027 11,153,638 3,378,638 7,775,000
2028-2032 52,873,500 11,688,500 41,185,000
2033-2037 29,878,750 2,208,750 27,670,000
Total 138,600,787 34,120,787 104,480,000
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 2021 Total
Balances at July 1, 2021 11,780,000 2,160,000 48,330,000 17,245,000 28,905,000 -108,420,000
New Bonds 11,700,000 11,700,000
Reductions 11,780,000 1,060,000 960,000 1,840,000 15,640,000
Balances at June 30, 2022 0 1,100,000 47,370,000 15,405,000 28,905,000 11,700,000 104,480,000
Interest 2012A 2012C 2016A 2016B 2018 Combined
Series Series Series Series Series 2021 Total
Balance at July 1, 2021 5,305,450
New Bond
Reductions 5,305,450
Balances at June 30, 2022 0
87,200
65,200
22,000
18,631,825
2,194,550
16,437,275
3,294,800
748,500
2,546,300
15,413,736
1,408,724
14,005,012
1,405,300
295,100
1,110,200
42,733,011
1,405,300
10,017,524
34,120,787
NOTE H DEBT REFUNDING
In August of 2021, the District refinanced the 2012A Series bond. As part of this transaction, an escrow account
was created for the purchase of securities that were placed in an irrevocable trust for the purpose of paying all
future debt service payments of $12,738,136 of general obligation refunding bonds (2012A series) to reduce the
debt obligations of the District. After also removing the premium on the bonds, the advanced refunding resulted in
a total savings to the district (difference between the reacquisition price and the net present value of the old debt)
of $3,194,796 and is recognized as a component of interest expense. As a result, the liability for the refunded
bonds has been removed from the governmental activities on the Statement of Net Position. The outstanding
principal on the refunded bond is $11,780,000 at June 30, 2022.
29
2018
4
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE I CHANGES IN LONG-TERM LIABILITIES
Following is a summary of the changes in long-term debt for the year ended June 30, 2022:
Current
Balance Balance Portion
July 1, 2021 Increases Decreases June 30, 2022 Balance
Bonds payable 108,420,000 11,700,000 15,640,000 104,480,000 6,510,000
Premium on bonds 11,244,055 1,040,757 2,503,462 9,781,350 1,288,201
Total bonds/premium 119,664,055 12,740,757 18,143,462 114,261,350 7,798,201
OPEB 4,301,589 2,043,685 2,257,904
Compensated absences 260,081 4,178 255,903 255,903
Contracts payable* 91,919 25,420 66,499 21,765
Total 124,317,644 12,740,757 20,216,745 116,841,656 8,075,869
*The contracts payable category beginning balance was added due to a change in accounting treatment.
Payment on the general obligation bonds are made by the Debt Service Fund from property taxes and state bond
levy equalization funds. Employee benefits will be paid by the fund in which the employee is paid from.
NOTE J 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, 2022, the limit for the District was 5% of $6,091,210,009 or
$304,560,500. The Debt Service Fund had $14,813,039 available and the general obligation debt was
$104,480,000 leaving a legal debt margin of $214,893,539.
NOTE K LONG-TERM DEBT
The District entered into a contract 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 this contract as of June
30, 2022, were as follows:
Total
Year Principal Interest Payments
2023 21,765 1,215 22,980
2024 22,164 815 22,980
2025 22,570 411 22,980
66,499 2,441 68,940
NOTE L NON-MONETARY TRANSACTIONS
The District received $413,812 in USDA Commodities during the 2021-2022 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.
30
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE M PAYROLL EXPENDITURES AND RELATED LIABILITIES
Teacher contracts were signed for the period September 2021 through June 2022, to be paid over the twelve
months of September 2021 through August 2022. 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 989 active participants and 25 inactive participants.
A retiree who retires with the Public Employee Retirement System of Idaho (PERSI) is eligible to keep the
District’s health insurance as a retiree until age 65, or until the retiree is eligible for coverage under Medicare.
Retirement eligibility is determined based on a minimum of reaching age 55 with at least 5 years of membership
with a PERSI employer. The retiree is on the same medical plan as the District’s active employees.
Funding Policy. The contribution requirement of plan members is established by the District’s insurance
committee in conjunction with our insurance provider. The required contribution is based on projected pay-as-
you-go financing requirements. For fiscal year 2021, the District contributed approximately $217,378 for
insurance premiums. 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, 2022, and the total other post-employment benefit liability was determined by an
actuarial valuation as of June 30, 2022.
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, 2022, 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, 2022.
Actuarial Cost Method Entry Age Normal
Inflation 2.50%
Salary Increases 3.05%
Discount Rate 3.50%
Health Cost Trend Rates 7.00% decreasing to 6.5%, then decreasing by .10% per year down to 4.50%,
and level thereafter.
31
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE N OTHER POST-EMPLOYMENT BENEFITS (OPEB), continued
Retirement Based on PERSI for Teacher’s with 32% of males and 33% of females
eligible at age 55, 36% of males and 32% of females first year eligible at age
60 and 36% of males and 44% of females eligible at age 65.
Based on PERSI (General) with 20% of males and 19% of females eligible at
age 55, 21% of males and 29% of females first year eligible at age 60, 31%
of males and 36% of females eligible at age 65 and 14% Male and 18%
females eligible at age 70.
Turnover 40% of active employees currently electing coverage. 25% of future covered
retirees are assumed to cover a spouse in retirement.
Mortality General and Teacher Pub-2010 Mortality Tables adjusted for future mortality
improvements using the fully generational MP-2021 projection scale from a
base year of 2010.
Total OPEB Liability June 30, 2022
Total OPEB liability 2,257,904
Covered employee payroll 56,355,247
Total OPEB liability as a % of covered employee payroll 4.01%
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* 3.50%
*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)
Total OPEB
Changes in total OPEB liability Liability
Balance as of June 30, 2021 4,301,589
Changes for the year:
Service cost 545,698
Interest on total OPEB liability 101,373
Differences in experience (454,904)
Changes of assumptions or other inputs (2,018,474)
Benefit payments (217,378)
Balance as of June 30, 2022 2,257,904
32
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE N OTHER POSTEMPLOYMENT BENEFITS (OPEB), continued
Sensitivity Analysis
The following presents the total OPEB liability of the school district, calculated using the discount rate of 3.50%,
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 (2.50%) or 1 percentage point higher (4.50%) than the current rate.
1% Decrease Discount Rate 1% Increase
June 30, 2022 2.50% 3.50% 4.50%
Total OPEB liability 2,415,778 2,257,904 2,108,842
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
(6.0% decreasing (7.0% decreasing to 8.0% decreasing
June 30, 2022 to 3.5%) 4.5%) to 5.5%)
Total OPEB liability 2,021,197 2,257,904 2,538,104
OPEB Expense
July 1, 2021
to
June 30, 2022
Service cost 545,698
Interest on total OPEB liability 101,373
Recognition of experience gains and losses (103,392)
Recognition of assumption changes or inputs (2,43,949)
OPEB expense 299,730
Other Post-Employment Benefits Expense and Deferred Outflows of Resources and Deferred Inflows for
Resources Related to Other Post-employment Benefits
Schedule of Deferred Inflow/Outflows of Resources
Original 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) (220,617) 134,931
Changes of assumptions or other inputs 137,467 June 30, 2019 14.53 9,461 -109,084
Differences between expected and actual
experience/changes in assumptions (1,213,590) June 30, 2020 15.34 (79,112) (1,055,366) -
Changes of assumptions or other inputs 67,752 June 30, 2021 14.50 4,673 -63,079
Differences between expected and actual
experience/changes in assumptions (2,473,378) June 30, 2022 9 (274,820) (2,198,558) -
Total (3,597,607) (347,340) (3,474,541) 307,094
33
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE N OTHER POSTEMPLOYMENT BENEFITS (OPEB), continued
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:
2023 (347,341)
2024 (347,341)
2025 (347,341)
2026 (347,341)
2027 (347,341)
Thereafter (1,430,742)
*Note that additional future deferred inflows and outflows of resources may impact these numbers.
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, 2022 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
34
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE O PERSI SICK LEAVE INSURANCE RESERVE FUND, continued
At June 30, 2022, the District reported an asset for its proportionate share of the net OPEB asset. The net OPEB
asset was measured as of June 30, 2021, 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, 2021, the District’s proportion was 3.5226265 percent.
For the year ended June 30, 2022, 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.
At June 30, 2022, the District reported deferred outflows of resources and deferred inflows of resources related to
PERSI OPEB sick leave from the following sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual experience 729,911 -
Changes in assumptions or other inputs 600,836 969,111
Net difference between projected and actual earnings on OPEB plan investments -1,367,509
District contributions subsequent to the measurement date --
Total 1,330,747 2,336,620
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, 2021, actuarial valuation was determined using the following actuarial assumptions, applied to all periods
included in the measurement:
Inflation 2.30%
Salary increases including inflation 3.05%
Investment rate of return 5.45%, net of investment fees
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 expect ed 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 t he
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.
35
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
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 50.00% 2.80% (.20)%
Broad U.S. Equity 39.30% 8.00% 6.00%
Developed Foreign Equities 10.70% 8.25% 6.25%
Assumed Inflation – Mean 2.00% 2.00%
Assumed Inflation – Standard Deviation 1.50% 1.50%
Portfolio Arithmetic Mean Return 6.18% 4.18%
Portfolio Standard Deviation 12.29% 12.29%
Portfolio Long-Term (Geometric) Expected Rate of Return 5.55% 3.46%
Assumed Investment Expenses 0.40% 0.40%
Portfolio Long-term (Geometric) Expected Rate of Return, Net of Investment Expenses 5.15% 3.06%
Investment Policy Assumptions from PERSI November 2019
Portfolio Long-term Expected Real Rate of Return, Net of Investment Expenses 4.14%
Portfolio Standard Deviation 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 3.15%
Assumed Inflation 2.30%
Long-Term Expected Geometric Rate of Return, Net of Investment Expenses 5.45%
Discount Rate
The discount rate used to measure the total OPEB liability was 5.45%. 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 5.45 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 (4.45 percent) or 1-percentage-point higher (6.45
percent) than the current rate:
Current
1% Discount 1%
Decrease Rate Increase
(4.45%) (5.45%) (6.45%)
Employer’s proportionate share of the net OPEB liability (asset) (4,439,131) (5,115,573) (5,747,413)
36
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
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, 2022, 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 PENSION PLAN
Plan Description
The District contributes to the Base Plan which is a cost sharing multiple-employer defined benefit pension plan
administered by Public Employee Retirement System of Idaho (PERSI or System) that covers substantially all
employees of the State of Idaho, its agencies, and various participating political subdivisions. The cost to
administer the plan is financed through the contributions and investment earnings of the plan. PERSI issues a
publicly available financial report that includes financial statements and the required supplementary information
for PERSI. That report may be obtained on the PERSI website at www.persi.idaho.gov.
Responsibility for administration of the Base Plan is assigned to the Board comprised of five members appointed
by the Governor and confirmed by the Idaho Senate. State law requires that two members of the Board be active
Base Plan members with at least ten years of service and three members who are Idaho citizens not members of
the Base Plan except by reason of having served on the Board.
Pension Benefits
The Base Plan provides retirement, disability, death, and survivor benefits for eligible members or beneficiaries.
Benefits are based on members’ years of service, age, and highest average salary. Members become fully vested
in their retirement benefits with five years of credited service (5 months for elected or appointed officials).
Members are eligible for retirement benefits upon attainment of the ages specified for their employment
classification. The annual service retirement allowance for each month of credited service is 2.0% (2.3% for
police/firefighters) of the average monthly salary for the highest consecutive 42 months.
The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature.
The Base Plan is required to provide a 1% minimum cost of living increase per year provided the Consumer Price
Index increases 1% or more. The PERSI Board has the authority to provide higher cost of living increases to a
maximum of the Consumer Price Index movement or 6%, whichever is less; however, any amount above the 1%
minimum is subject to review by the Idaho Legislature.
37
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE P PENSION PLAN, continued
Member and Employer Contributions
Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of
covered compensation and earnings from investments. Contribution rates are determined by the PERSI Board
within limitations, as defined by state law. The Board may make periodic changes to employer and employee
contribution rates (expressed as percentages of annual covered payroll) if current rates are actuarially determined
to be inadequate or in excess to accumulate sufficient assets to pay benefits when due.
The contribution rates for employees are set by statute at 60% of the employer rate for general employees and
72% for police and firefighters. As of June 30, 2021, it was 7.16% for general employees and 9.13% for police
and firefighters. The employer contribution rate as a percent of covered payroll is set by the Retirement Board and
was 11.94% general employees and 12.28% for police and firefighters. The District’s contributions were
$7,525,075 for the year ended June 30, 2022.
Pension Liabilities, Pension Expense (Revenue), and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
At June 30, 2022, the District reported a liability for its proportionate sh are of the net pension liability. The net
pension liability was measured as of June 30, 2021, 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 t he 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, 2021, the District’s proportion was
1.60497 percent.
For the year ended June 30, 2022, the District recognized pension expense of $7,180,160. At June 30, 2022, the
District reported deferred outflows of resources and deferred inflows of resources related to pensions from the
following sources:
Deferred Deferred Inflows
Outflows of of Resources
Resources
Differences between expected and actual experience 1,867,593 736,799
Changes in assumptions or other inputs 14,550,095 -
Net difference between projected and actual earnings on pension plan investments -39,813,469
Changes in the employer’s proportion and differences between the employer’s
contribution and the employer’s proportionate contributions (1,532,754) -
District contributions subsequent to the measurement date 7,525,075 -
Total 22,410,009 40,550,268
$7,525,075 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, 2023.
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, 2020, the beginning of the measurement period
ended June 30, 2020, is 4.7 years and 4.6 years for the measurement period ended June 30, 2021.
38
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE P PENSION PLAN, continued
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized in pension expense (revenue) as follows:
Year ended June 30:
2022 (6,030,583)
2023 (5,722,947)
2024 (4,840,313)
2025 (9,071,491)
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, 2021, actuarial valuation was determined using the following actuarial
assumptions, applied to all periods included in the measurement:
Inflation 2.30%
Salary increases including inflation 3.05%
Investment rate of return 6.35%, 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
Assumptions used to calculate the enclosed figures are described in our 2021 Experience Study. The Total
Pension Liability as of June 30, 2021 is based on the results of an actuarial valuation date July 1, 2021.
The long-term expected rate of return on pension plan investments was determined using the building block
approach and a forward-looking model in which best estimate rates or expected future real rates of return
(expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighing the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation.
Even though history provides a valuable perspective for setting the investment return assumption, the System
relies primarily on an approach which builds upon the latest capital market assumptions. Specifically, the System
uses consultants, investment managers and trustees to develop capital market assumptions in analyzing the
System’s asset allocation. The assumptions and the System’s formal policy for asset allocation are shown below.
The formal asset allocation policy is somewhat more conservative than the current allocation of System’s assets.
39
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE P PENSION PLAN, continued
The best-estimate range for the long-term expected rate of return is determined by adding expected inflation to
expected long-term real returns and reflecting expected volatility and correlation. The capital market assumptions
are as of 2021
Capital Market Assumptions
Asset Class
Target
Allocation
Core Fixed Income 30.00%
Broad U.S. Equity 55,00%
Developed Foreign Equities 15.00%
Long-Term
Expected
Nominal Rate of
Return
(Arithmetic)
1.8%
8.00%
8.25%
Long-Term
Expected
Real Rate of
Return
(Arithmetic)
(.20)%
6.00%
6.25%
Assumed Inflation – Mean
Assumed Inflation – Standard Deviation
2.00%
1.50%
2.00%
1.50%
Portfolio Arithmetic Mean Return
Portfolio Standard Deviation
6.18%
12.29%
4.18%
12.29%
Portfolio Long-Term (Geometric) Expected Rate of Return
Assumed Investment Expenses
Portfolio Long-term (Geometric) Expected Rate of Return, Net of Investment Expenses
5.55%
0.40%
5.15%
3.46%
0.40%
3.06%
Investment Policy Assumptions from PERSI November 2019
Portfolio Long-term Expected Real Rate of Return, Net of Investment Expenses 4.14%
Portfolio Standard Deviation 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 4.05%
Assumed Inflation 3.00%
Long-Term Expected Nominal Rate of Return, Net of Investment Expenses 6.35%
Discount Rate
The discount rate used to measure the total pension liability was 6.35%. 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 l ong-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.
40
Bonneville Joint School District #93
Notes to Financial Statements
June 30, 2022
NOTE P 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 6.35 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 (5.35 percent) or 1-percentage-point
higher (7.35 percent) than the current rate:
1% Current
Decrease Discount 1% Increase
(5.35%) Rate (6.35%) (7.35%)
Employer’s proportionate share of the net pension liability (asset) 44,063,510 (1,267,573) (38,426,370)
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, 2022, the District reported no payables to the defined benefit pension plan for legally required
employer contributions and for legally required employee contributions which had been withheld from employee
wages but not yet remitted to PERSI.
NOTE Q COMMITMENTS AND CONTINGENCIES
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.
NOTE R SUBSEQUENT EVENTS
Management of the District evaluated subsequent events through October 11, 2022, which was the date
the financial statements were available to be issued. There were no 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, 2022
Favorable
Original Final (Unfavorable)
REVENUES Budget Budget Actual Variance
Property taxes 5,972,008 5,800,000 5,884,181 84,181
Penalties and interest on delinquent taxes 25,000 25,000 36,409 11,409
Earnings on investments (20,243) (20,243)
Tuition 50,000 50,000 55,593 5,593
Rental 26,016 26,016 56,952 30,936
Other local 438,925 451,837 647,574 195,737
State apportionment
Base 63,003,871 64,327,472 64,462,386 134,914
Transportation 2,700,000 2,957,462 2,976,571 19,109
Exceptional child 25,000 25,000 129,938 104,938
Benefits 8,652,916 8,788,456 8,789,538 1,082
Property tax replacement 248,027 248,027 252,509 4,482
Other state revenue 4,711,023 4,936,180 5,117,844 181,664
Total revenues 85,852,787 87,635,450 88,389,252 753,802
EXPENDITURES
Instruction
Elementary 23,625,774 22,655,664 21,845,259 810,405
Secondary 22,487,002 23,128,867 22,615,345 513,522
Alternative school 756,470 696,611 687,623 8,988
Special education program 4,594,778 7,921,212 8,051,876 (130,664)
Special education preschool program 319,511 303,808 307,698 (3,890)
Gifted and talented 320,699 379,173 334,041 45,132
Interscholastic program 1,216,349 1,216,158 1,222,787 (6,629)
School activity 228,508 228,141 245,951 (17,810)
Total instruction 53,549,091 56,529,632 55,310,580 1,219,052
Support services
Attendance, guidance, and health 3,067,096 3,276,100 3,304,332 (28,232)
Special education support services 5,976,966 3,461,105 2,343,058 1,118,047
Instructional improvement 1,977,375 2,601,873 2,503,954 97,919
Educational media 858,359 909,658 950,246 (40,588)
Instruction related technology 110,000 1,615,888 1,380,629 235,259
Total support services 11,989,796 11,864,623 10,482,219 1,382,404
See Independent Auditor's Report.
42
(Unfavorable)
Original
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, 2022
Favorable
Original Final (Unfavorable)
EXPENDITURES, continued Budget Budget Actual Variance
Administration
Board of Education 336,077 397,596 331,851 65,745
District administration 379,236 385,083 342,173 42,910
School administration 6,793,799 5,893,763 6,141,207 (247,444)
Total administration 7,509,112 6,676,442 6,815,231 (138,789)
Business Administrative Services
Business operations 1,846,810 2,022,370 1,746,256 276,114
Central services 218,026 218,515 160,254 58,261
Administrative Technology Services 40,000 40,000 16,934 23,066
Total business administrative services 2,104,836 2,280,886 1,923,444 357,442
Operations
Building care (custodial) 2,697,031 4,587,178 4,762,298 (175,120)
Maintenance 2,925,210 3,210,919 2,637,978 572,941
Security 511,513 514,685 504,453 10,232
Total operations 6,133,754 8,312,783 7,904,729 408,054
Transportation 4,200,646 4,306,047 4,270,278 35,769
Community services 124,502 157,399 162,876 (5,477)
Facility acquisition 322,086 322,086 0
Total expenditures 85,611,736 90,449,899 87,191,443 3,258,456
Revenues over (under) expenditures 241,050 (2,814,449) 1,197,809 4,012,258
OTHER FINANCING SOURCES (USES)
Operating transfers, net (454,342) (1,659,535) (1,617,155) 42,380
Contingency - budget only (3,035,797) (2,909,644) 2,909,644
Revenues and other financing sources
over (under) expenditures (3,249,089) (7,383,628) (419,346) 6,964,282
Fund balance - July 1, 2021 7,383,628
Fund balance - June 30, 2022 6,964,282
See Independent Auditor's Report.
43
Original
0
Bonneville Joint School District #93
Medicaid Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
-Budget to Actual-
Fiscal Year Ended June 30, 2022
REVENUES
Other local
Other state revenue
Original
Budget
850,000
2,700,000
Final
Budget
850,000
3,843,492
Actual
5,896,533
Favorable
(Unfavorable)
Variance
(850,000)
2,053,041
Total revenues 3,550,000 4,693,492 5,896,533 1,203,041
EXPENDITURES
Instruction
Support services
972,880
2,577,120
1,431,461
3,262,031
1,585,526
4,311,007
(154,065)
(1,048,976)
Total expenditures 3,550,000 4,693,492 5,896,533 (1,203,041)
Revenues and other financing sources
over (under) expenditures 0 0 0 2,406,082
Fund balance - July 1, 2021 0
Fund balance - June 30, 2022 0
See Independent Auditor's Report.
44
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2022
Schedule of Changes in Total OPEB Liability and Related Ratios
As of the measurement date of June 30, 2022
2022 2021 2020 2019 2018
Total OPEB Liability
Service cost 545,698 548,323 513,403 512,500 456,245
Interest on total OPEB liabilty 101,373 109,465 168,399 147,380 149,723
Differences in experience (454,904) -(512,762) -(298,301)
Effect of assumption changes or inputs (2,018,474) 67,752 (700,828) 137,467 182,443
Expected benefit payments (217,378) (202,290) (246,776) (197,261) (176,160)
Net change in total OPEB liability (2,043,685) 523,250 (778,564) 600,086 313,950
Total OPEB liability, beginning 4,301,589 3,778,339 4,556,903 3,956,817 3,642,867
Total OPEB liability, ending 2,257,904 4,301,589 3,778,339 4,556,903 3,956,817
Covered valuation payroll 56,355,247 45,100,125 43,470,000 45,056,550 43,428,000
Total OPEB liability as a % of covered
valuation payroll 4.01% 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.
45
0 0
0 0
0 0
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2022
Schedule of Employer's Share of Net OPEB Asset
PERSI-Sick Leave Plan
Last 10 - Fiscal Years*
2021 2020 2019 2018 2017
Employer's portion of net OPEB asset 3.5226265% 3.5226265% 3.6101186% 3.3965902% 3.1983609%
Employer proportionate share of the net OPEB asset 5,115,573 4,337,431 3,457,786 2,817,300 2,455,155
Employer's covered-employee payroll 59,855,707 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 8.547% 7.994% 6.745% 6.157% 6.016%
Plan fiduciary net position as a percentage of the
total OPEB asset 152.61% 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 *
2022 2021 2020 2019 2018
Statutorily required contribution 157,357 594,657 530,775
Contributions in relation to the statutorily
required contribution 316,207 592,204 529,753
Contribution (deficiency) excess 158,851 (2,453) (1,022)
Employer's covered payroll 63,024,076 59,855,707 54,260,793 51,263,509 45,756,462
Contributions as a percentage of covered payroll 0.000% 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.
46
Bonneville Joint School District #93
Required Supplementary Information
Fiscal Year Ended June 30, 2022
Schedule of Employer's Share of Net Pension Liability
PERSI-Base Plan Last 10-Fiscal Years *
2021 2020 2019 2018 2017 2016 2015 2014
Employer's portion of net pension liability 1.60497000% 1.52377110% 1.50930670% 1.41939760% 1.31157080% 1.30930460% 1.313797300% 1.289265200%
Employers proportionate share of the net pension liability -1,267,573 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 59,855,707 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 -2.12% 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 100.36% 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, 2021 (measurement date).
Schedule of Employer Contributions
PERSI-Base Plan Last 10-Fiscal Years *
2022 2021 2020 2019 2018 2017 2016 2015
Statutorily required contribution 7,525,075 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 7,525,075 7,146,773 6,478,608 5,803,027 5,179,635 4,619,665 4,338,975 4,165,658
Contribution (deficiency) excess 0 2 (131) (2) 4 (3) 919 (86)
Employer's covered payroll 63,024,076 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% 11.9400% 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, 2022 (reporting date).
See Independent Auditor's Report.
47
Bonneville Joint School District #93
Notes to Required Supplementary Information
Fiscal Year Ended June 30, 2022
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.
48
This page intentionally left blank.
OTHER FINANCIAL INFORMATION
0 0 0 0 0
0 0 0 0 0 0 0 0 0
0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Bonneville Joint School District #93
All Nonmajor Funds
Combining Balance Sheet
June 30, 2022
Child
Nutrition
Federal
Forest E-rate
Special
Projects
Student
Activities
Driver's
Ed
Professional
Technical
Public
School
Technology
Idaho
Substance
Abuse
ESSER
III
Improving
Basic
Programs
ESSER
I
Migrant
Education
ESSER
II
IDEA
School-Age
IDEA
Preschool
IDEA
ARPA Title IV
Perkins III
Professional
Technical Title III
Supporting
Effective
Instruction
COVID
Relief
Premium
Pay
Bonneville
Education
Foundation
Construction
Funds
All
Nonmajor
Funds
ASSETS
Cash and investments 2,856,319 236,591 453,539 2,566,901 2,175,549 0 1,133,753 1,145,632 298,592 0 2,096,038 12,962,914
Federal grants/contracts 47,519 233,024 689,015 258 15,359 277,031 12,948 2,278 126,733 15,743 91,978 1,511,886
Other receivables 103,800 106 0 425 0 46,552 1,548 152,431
Supplies inventory 159,376 159,376
Total assets 3,063,214 236,591 453,539 2,670,701 2,175,655 0 1,133,753 1,145,632 298,592 233,024 689,015 258 15,359 0 277,031 12,948 2,278 0 126,733 15,743 92,403 0 0 46,552 2,097,586 14,786,607
LIABILITIES AND
FUND EQUITY
LIABILITIES
Accounts payable 144,236 0 22,915 97,113 46,411 6,667 1,023 1,347 0 75 0 0 15,296 0 85 1,055 336,223
Accrued wages 188,248 8,198 83,967 197,967 6,532 175,503 7,467 5,264 23,172 696,318
Accrued employee benefits 96,658 0 1,695 16,917 61,298 2,966 0 101,528 4,885 0 1,128 4,676 0 291,751
Interfund payable
Total liabilities 429,142 0 0 22,915 97,113 0 56,304 0 6,667
131,117
233,024
428,403
689,015
258
258
5,786
15,359 0 277,031
596
12,948
2,278
2,278 0
126,733
126,733
9,351
15,743
49,259
92,403 0 0
46,467
46,552 1,055
800,248
2,124,540
FUND EQUITY
Nonspendable
Restricted
Total fund equity
Total liabilities
and fund equity
159,376
2,474,696
2,634,072
3,063,214
236,591
236,591
236,591
453,539
453,539
453,539
2,647,786
2,647,786
2,670,701
2,078,542
2,078,542
2,175,655
0
0
1,077,449
1,077,449
1,133,753
1,145,632
1,145,632
1,145,632
291,925
291,925
298,592
0
233,024
0
689,015
0
258
0
15,359
0
0
0
277,031
0
12,948
0
2,278
0
0
0
126,733
0
15,743
0
92,403
0
0
0
0
0
46,552
2,096,531
2,096,531
2,097,586
159,376
12,502,691
12,662,067
14,786,607
See Independent Auditor's Report.
49
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 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 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Bonneville Joint School District #93
All Nonmajor Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance
Fiscal Year Ended June 30, 2022
Child
Nutrition
Federal
Forest E-rate
Special
Projects
Student
Activities
Driver's
Ed
Professional
Technical
Public
School
Technology
Idaho
Substance
Abuse
ESSER
III
Improving
Basic
Programs
ESSER
I
Migrant
Education
ESSER
II
IDEA
School-Age
IDEA
Preschool
IDEA
ARPA Title IV
Perkins III
Professional
Technical Title III
Supporting
Effective
Instruction
COVID
Relief
Premium
Pay
Bonneville
Education
Foundation
Construction
Funds
All
Nonmajor
Funds
REVENUES
Earnings on investments 2,110 0 0 0 911 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (15,682) (12,661)
Food service 39,682 39,682
Other local 3,734 791,569 1,309,739 3,428,555 0 0 41,242 5,574,839
Other state revenue 427,852 1,011,461 160,204 1,599,517
Federal grants and contracts 5,783,189 45,749 0 1,628,958 1,614,620 71,549 66,731 2,389,307 1,694,690 70,149 2,318 148,978 126,733 81,147 340,461 512,088 1,456,977 16,033,644
Total revenues 5,828,715 45,749 791,569 1,309,739 3,429,466 0 427,852 1,011,461 160,204 1,628,958 1,614,620 71,549 66,731 2,389,307 1,694,690 70,149 2,318 148,978 126,733 81,147 340,461 512,088 1,456,977 41,242 (15,682) 23,235,021
EXPENDITURES
Instruction
Elementary 11,325 41,113 0 0 776,890 720,855 0 554,332 0 99,492 52,252 97,744 361,971 6,559 0 2,722,533
Secondary 581,560 18,718 138,919 9,103 541,533 24,099 19,503 363,826 34,483 1,731,744
Alternative school 473 --0 0 2,004 0 -15,812 0 0 2,076 11,885 0 0 32,250
Interscholastic program 2,401 1,193 3,594
Special education program -0 0 163,400 0 -0 1,561,170 -0 136,873 131,296 0 0 1,992,739
Special ed preschool program
School activity
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
Total expenditures
Revenues over (under) expenditures
OTHER FINANCING
SOURCES (USES)
Transfers In
Transfers Out
Total other financing sources
4,861,266
4,861,266
967,449
115,644
(57,500)
58,144
8,679
8,679
37,070
0
100,567
693,452
98,117
0
0
0
593
1,000
47,265
10,500
32,800
145
6,214
0
7,618
22,930
189,369
1,120,370
1,201,535
1,201,535
3,098,580
3,098,580
330,886
0
0
0
(37,032)
(37,032)
426,034
7,152
17,045
21,482
3,995
475,708
(47,856)
0
0
0
0
1,157,443
0
0
0
0
1,157,443
(145,982)
0
0
0
0
0
0
224,354
0
0
0
224,354
(64,150)
0
338
2,371
1,594
507,466
4,145
338
809
15,110
8,419
4,754
1,628,958
0
0
59,655
0
19,707
768,104
9,196
0
0
0
0
0
1,586,620
28,000
(28,000)
(28,000)
10,505
16,628
42,209
0
2,207
0
0
71,549
0
0
14,239
52,492
66,731
0
0
0
7,271
8,556
0
371,319
16,305
50,411
823,768
0
0
0
2,389,307
0
0
64,731
0
0
68,789
0
0
0
0
0
0
1,694,690
0
0
70,149
70,149
0
0
2,318
2,318
0
0
0
0
49,486
0
0
0
0
0
148,978
0
0
126,733
126,733
0
0
4,796
81,147
0
0
340,461
340,461
0
0
3,291
0
12,943
15,525
2,430
15,186
0
35,260
12,445
55,896
50,536
1,487
50,893
0
512,088
0
0
13,981
0
67,071
57,039
23,612
29,807
23,963
95,530
22,786
102,013
71,432
2,251
77,321
0
1,456,977
0
0
0
0
0
200
0
0
0
0
0
41,242
0
0
0
0
0
0
0
0
0
3,058,050
3,058,050
(3,073,732)
0
152,490
8,679
73,894
552,767
172,953
154,821
1,767,400
69,034
1,745,684
168,577
86,596
1,233,557
130,387
3,738
5,001,852
3,098,580
3,080,980
23,984,849
(749,828)
1,317,179
(122,532)
1,194,647
over (under) expenditures and
other financing sources (uses) 1,025,593 37,070 98,117 2,321,905 330,886 (37,032) (47,856) (145,982) (64,150) (3,073,732) 444,819
Revenues and other financing sources
Fund balance - July 1 2021 1,608,479 199,521 355,422 325,881 1,747,656 37,032 1,125,305 1,291,614 356,075 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,170,263 12,217,248
Fund balance - June 30, 2022 2,634,072 236,591 453,539 2,647,786 2,078,542 0 1,077,449 1,145,632 291,925 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2,096,531 12,662,067
See Independent Auditor's Report.
50
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Bonneville Joint School District #93
Schedule of Taxes Receivable
Fiscal Year Ended June 30, 2022
General Fund Debt Service Fund Capital Projects Fund
2020 2020 2020
Total 2021 and prior Total 2021 and prior Total 2021 and prior
Unearned balance at July 1, 2020 245,869 0 245,869 379,181 0 379,181 110,708 0 110,708
ADDITIONS
2020 roll charges 5,831,737 5,831,737 10,054,717 10,054,720 2,814,592 2,814,593
Subsequent additions and cancellations (10,803) (4,777) (6,026) (30,861) (22,285) (8,576) (7,967) (5,509) (2,458)
Total additions 5,820,934 5,826,960 (6,026) 10,023,856 10,032,435 (8,576) 2,806,625 2,809,084 (2,458)
DEDUCTIONS
Collections received 3,903,623 3,714,424 189,199 6,683,323 6,400,496 282,827 1,875,673 1,792,140 83,533
Current amount due on taxes collected
by the counties 1,986,291 1,977,217 9,074 3,421,832 3,408,997 12,835 958,181 954,517 3,664
Total deductions 5,889,914 5,691,641 198,273 10,105,155 9,809,493 295,662 2,833,854 2,746,657 87,197
Unearned balance at June 30, 2021 176,889 135,319 41,570 297,882 222,942 74,943 83,479 62,427 21,053
See Independent Auditor's Report.
51
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Annual Federal Compliance Section
Bonneville Joint School District #93
June 30, 2022
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED
ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH
GOVERNMENT AUDITING STANDARDS
Board of Trustees
Bonneville Joint School District #93
Idaho Falls, Idaho
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in 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 (the District), as of
and for the year ended June 30, 2022, and the related notes to the financial statements, which collectively
comprise the District’s basic financial statements, and have issued our report thereon dated October 11, 2022.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered Bonneville Joint School District
#93’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are
appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not
for the purpose of expressing an opinion on the effectiveness of Bonneville Joint School District #93’s internal
control. Accordingly, we do not express an opinion on the effectiveness of Bonneville Joint School District #93’s
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements, on a timely basis. A material weakness is a deficiency, or a 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 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 or significant deficiencies may
exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether Bonneville Joint School District #93’s financial
statements are free from 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 entity's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 11, 2022
53
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR
PROGRAM AND 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
Opinion on Each Major Federal Program
We have audited Bonneville Joint School District #93’s compliance with the types of compliance requirements
identified as subject to audit in the (OMB) Compliance Supplement that could have a direct and material effect on
each of Bonneville Joint School District #93’s (the District) major federal programs for the year ended June 30,
2022. 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.
In our opinion, Bonneville Joint School District #93 complied, in all material respects, with the types of
compliance requirements referred to above that could have a direct and material effect on each of its major federal
programs for the year ended June 30, 2022.
Basis for Opinion on Each Major Federal Program
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United
States of America; the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance) Our responsibilities under those standards and the Uniform Guidance are
further described in the Auditor's Responsibilities for the Audit of Compliance section of our report.
We are required to be independent of Bonneville Joint School District #93 and to meet our other ethical
responsibilities, in accordance with relevant ethical requirements relating to our audit. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each
major federal program. Our audit does not provide a legal determination of Bonneville Joint School District #93’s
compliance with the compliance requirements referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of laws,
statutes, regulations, rules, and provisions of contracts or grant agreements applicable to Bonneville Joint School
District #93’s federal programs.
54
Auditor's Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance
requirements referred to above occurred, whether due to fraud or error, and express an opinion on Bonneville
Joint School District #93's compliance based on our audit. Reasonable assurance is a high level of assurance but is
not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally
accepted auditing standards, Government Auditing Standards, and the Uniform Guidance will always detect
material noncompliance when it exists. The risk of not detecting material noncompliance resulting from fraud is
higher than for that resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred
to above is considered material if there is a substantial likelihood that, individually or in the aggregate, it would
influence the judgment made by a reasonable user of the report on compliance about Bonneville Joint School
District #93’s compliance with the requirements of each major federal program as a whole.
In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards,
and the Uniform Guidance, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material noncompliance, whether due to fraud or error, and design and
perform audit procedures responsive to those risks. Such procedures include examining, on a test basis,
evidence regarding Bonneville Joint School District #93’s compliance with the compliance requirements
referred to above and performing such other procedures as we considered necessary in the circumstances.
• Obtain an understanding of Bonneville Joint School District #93’s internal control over compliance
relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to
test and report on internal control over compliance in accordance with the Uniform Guidance, but not for
the purpose of expressing an opinion on the effectiveness of Bonneville Joint School District #93’s
internal control over compliance. Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over
compliance that we identified during the audit.
Report on 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 a 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 Auditor's
Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in
internal control over compliance that might be material weaknesses or significant deficiencies in internal control
over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control
over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or
significant deficiencies in internal control over compliance may exist that were not identified.
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over
compliance. Accordingly, no such opinion is expressed.
55
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly, this report is not suitable for any other purpose.
Wipfli LLP
CPAs and Consultants
Idaho Falls, Idaho
October 11, 2022
56
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2022
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
84.425D/84.425R/84.425U COVID19-Education Stabilization Fund
10.553/10.555/10.559/10.582 Child Nutrition Cluster
21.019 COVID19 – Coronavirus Relief Fund
21.027 COVID19 – Coronavirus State and Local Fiscal
Recovery Funds
Dollar threshold used to distinguish
between type A and type B programs: $750,000
Auditee qualified as low-risk auditee? X Yes No
57
Bonneville Joint School District #93
Schedule of Findings and Questioned Costs
Fiscal Year Ended June 30, 2022
SECTION II -FINDINGS -FINANCIAL STATEMENT AUDITS
NONE
SECTION III -FINDINGS AND QUESTIONED COSTS -MAJOR FEDERAL AWARD PROGRAMS
AUDIT
NONE
58
Entity Identifying
Number
Child Nutrition Cluster
Cash Assistance
School Breakfast Program 10.553
2016IN109947
357,927
National School Lunch Program –cash 10.555
2016IN109947
1,937,022
Special Milk Program 10.556
2014IN109947
1,107
2,296,056
Non-Cash Assistance (Commodities)
National School Lunch Program 10.555
315,792
Total Child Nutrition Cluster
2,611,848
Fresh Fruit and Vegetable Program 10.582
201616L160347
124,198
Total Passed Through Idaho State Department of Education
2,736,046
Passed Through Bonneville County
Federal Forest 10.665 11,538
Total United States Department of Agriculture
2,747,584
United States Department of Education
Passed Through Idaho State Department of Education:
Title I-Grants to Local Educational Agencies 84.010
S010A150012
1,740,145
Migrant Education 84.011 S011A150012
62,344
Special Education Cluster
Special Education –School-age 84.027
Education:
Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2022
Federal Grantor / Pass-Through Grantor / Program Title
Federal
AL
Number
Pass-Through
Entity Identifying
Number Expenditures
United States Department of Education
Passed Through Idaho State Department of Education:
Title I Grants to Local Educational Agencies
Subtotal
84.010 S010A200012
S010A210012
259,564
1,355,056
1,614,620
Migrant Education -Basic State Grant Program
Subtotal
84.011 S011A200012
S011A210012
25,520
41,211
66,731
English Language Acquisition
Subtotal
84.365 S365A200012
S365A210012
23,259
57,888
81,147
Supporting Effective Instruction
Subtotal
84.367 S367A200011
S367A210011
69,388
271,072
340,460
Student Support and Academic Enrichment 84.424 S424A210013 148,978
COVID-19 – ESSER I
COVID-19 – ESSER II
COVID-19 – ESSER III
Subtotal
84.425D
84.425R
84.425U
S425D210043
S425D221043
71,549
2,389,307
1,628,958
4,089,814
Special Education Cluster
Special Education – School-age
Subtotal
84.027 H027A180088
H027A190088
H027A200088
20,000
389,132
1,285,558
1,694,690
COVID19 -Special Education – School-age
Special Education – Preschool
Subtotal
84.173
H027X210088
H193A210030
2,318
70,149
72,467
Total Special Education Cluster 1,767,157
Total Passed Through the Idaho State Department of Education 8,108,907
Passed Through the State Division of Professional-Technical
Vocational Education -Basic Grants to States 84.048 V048A200012 126,733
Total U.S. Department of Education 8,235,640
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Bonneville Joint School District #93
Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2022
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
Subtotal
10.553 202121N119947
202222N119947
95,757
740,528
836,285
National School Lunch Program
Subtotal
10.555 202121N109947
202222N109947
536,056
2,652,022
3,188,078
COVID19 -Emergency Food Service Grant
Summer Food Service Program for Children
Fresh Fruit and Vegetable Program
Subtotal
10.555
10.559
10.582
202222N890347
212020N109947
212020L160347
132,811
134,852
57,601
325,264
Total cash assistance 4,349,627
Non-Cash Assistance (Commodities)
National School Lunch Program
Total Child Nutrition Cluster
10.555 413,812
4,763,439
Total Passed Through Idaho State Department of Education 4,763,439
Passed Through Bonneville County
Federal Forest 10.665 8,679
Total U.S. Department of Agriculture 4,772,119
United States Department of Treasury
Passed Through the Idaho State Department of Education:
COVID19 -Coronavirus Relief Fund
COVID19 – Coronavirus State and Local Fiscal
Recovery Funds
21.019
21.027
21-1992-0-1-806 512,088
1,456,977
Total Passed Through Idaho State Department of Education
Total U.S. Department of Treasury
1,969,065
1,969,065
Total expenditures of federal awards 14,976,824
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Bonneville Joint School District #93
Notes to Schedule of Expenditures of Federal Awards
Fiscal Year Ended June 30, 2022
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, 2022. 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 position 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, 2022.
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.
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Bonneville Joint School District #93
Summary Schedule of Prior Year Audit Findings
Fiscal Year Ended June 30, 2021
SECTION IV – SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS
None
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