INDIANA AREA SCHOOL DISTRICT

AUDIT REPORT

JUNE 30, 2012

FUND STATEMENTS

GOVERNMENTAL FUNDS• General Fund • Capital Projects Fund (Capital Reserve)• Debt Service Fund

FUND STATEMENTS

PROPRIETARY FUND

Food Service Fund

FIDUCIARY FUNDS

Agency Fund – Student Activities

FUND BALANCE BY FUND

$3,836,297

$4,157,778

$2,076,289

$1,902,445

($67,924) ($14,547)(500,000)

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

General Fund Capital Reserve Food Service

2011

2012

SOURCES OF REVENUEGENERAL FUND

Total Revenues for 2012: $45,446,922

Total Revenues for 2011: $46,217,430 Decrease of 1.7%

Other Local Taxes12%

State Subsidies

32%

Real Estate Taxes52%

Other Local Sources

2%

Federal Subsidies

2%

EXPENDITURES BY FUNCTIONGENERAL FUND

2012 Total Expenditures: $45,125,441 2012 Interfund Transfers: $3,277,177

2011 Total Expenditures: $46,623,218 2011 Interfund Transfers: $3,613,268

Decrease of 3.2%

Transfers7%Non-instructional

Services2%

Support Services27% Instruction

64%

DEBT SERVICEBeginning $22,970,000

Issued 0

Retired (2,200,000)

Ending $20,770,000

Current (2,255,000)

Long-term $18,515,000

Series 2010 $ 5,170,000

Series 2009 $ 9,855,000

Series 2008 $ 5,690,000

Series 2003A $ 55,000

Total $20,770,000

DEBT SERVICE TO TOTAL EXPENDITURES FOR 16 LOCAL

DISTRICTS

3.39%

1.10%1.18%

2.33%

5.54%6.28%

6.53%6.67%

7.93%

9.59%10.21%

11.25%

11.27%

12.19%

12.27%

12.74%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

A B C D E F IASD G H I J K L M N O

BUDGET VS. ACTUALGENERAL FUND

Budget$44,458,043

Budget$45,991,940

Actual$45,446,922 Actual

$45,125,441

40,000,000

41,000,000

42,000,000

43,000,000

44,000,000

45,000,000

46,000,000

47,000,000

48,000,000

49,000,000

50,000,000

Revenues Expenditures

Revenue Variance $988,879Expenditure Variance $866,499

FOOD SERVICE FUND 2012 2011

Revenue $ 1,167,538 $ 1,164,041

Expense (1,184,161) (1,142,649)

Transfers In 70,000 125,000

Net Income 53,377 146,392

Beg Net Assets (67,924) (214,316)

End Net Assets $ (14,547) $ (67,924)

THANK YOU TO THE BUSINESS OFFICE

STAFF

FOR YOUR TIME, PREPARATION AND HARD WORK ON THE

AUDIT!!