AGUA FRIA UNION HIGH SCHOOL DISTRICT NO....

AGUA FRIA UNION HIGH

SCHOOL DISTRICT NO. 216

Comprehensive Annual Financial Report

Fiscal Year Ended June 30, 2012

1481 North Eliseo Felix, Jr. Way, Suite 110 ▪ Avondale, Arizona 85323

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216

AVONDALE, ARIZONA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2012

Issued by: Business and Finance Department


TABLE OF CONTENTS

INTRODUCTORY SECTION Page Letter of Transmittal i ASBO Certificate of Excellence vii GFOA Certificate of Achievement viii Organizational Chart ix List of Principal Officials x FINANCIAL SECTION INDEPENDENT AUDITORS’ REPORT 1 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A)

(Required Supplementary Information) 5 BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements:

Statement of Net Assets 18 Statement of Activities 19

Fund Financial Statements: Balance Sheet – Governmental Funds 22 Reconciliation of the Balance Sheet –

Governmental Funds to the Statement of Net Assets 25 Statement of Revenues, Expenditures and Changes in Fund Balances –

Governmental Funds 26 Reconciliation of the Statement of Revenues, Expenditures and

Changes in Fund Balances – Governmental Funds to the Statement of Activities 28


TABLE OF CONTENTS (Cont’d)

FINANCIAL SECTION (Cont’d) Page

BASIC FINANCIAL STATEMENTS (Concl’d) Statement of Fiduciary Assets and Liabilities 29

Notes to Financial Statements 30

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – BUDGET AND ACTUAL (Required Supplementary Information)

General Fund 50 Note to Required Supplementary Information 51

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES Governmental Funds:

Combining Balance Sheet – All Non-Major Governmental Funds – By Fund Type 56

Combining Statement of Revenues, Expenditures and Changes in

Fund Balances – All Non-Major Governmental Funds – By Fund Type 57

Special Revenue Funds: Combining Balance Sheet 60 Combining Statement of Revenues, Expenditures and

Changes in Fund Balances 66 Combining Schedule of Revenues, Expenditures and

Changes in Fund Balances – Budget and Actual 72

Debt Service Fund:

Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual 94


TABLE OF CONTENTS (Cont’d)

FINANCIAL SECTION (Concl’d) Page

Capital Projects Funds:

Combining Balance Sheet 96 Combining Statement of Revenues, Expenditures and

Changes in Fund Balances 98 Combining Schedule of Revenues, Expenditures and

Changes in Fund Balances – Budget and Actual 100

Agency Funds: Combining Statement of Fiduciary Assets and Liabilities 108 Combining Statement of Changes in Fiduciary Assets and Liabilities 109

STATISTICAL SECTION

Financial Trends:

Net Assets by Component 112 Expenses, Program Revenues, and Net (Expense)/Revenue 113 General Revenues and Total Changes in Net Assets 115 Fund Balances – Governmental Funds 117 Governmental Funds Revenues 119

Governmental Funds Expenditures and Debt Service Ratio 121 Other Financing Sources and Uses and Net Changes in Fund Balances – Governmental Funds 123


TABLE OF CONTENTS (Concl’d)

STATISTICAL SECTION (Concl’d) Page Revenue Capacity:

Assessed Value and Estimated Actual Value of Taxable Property 124 Direct and Overlapping Property Tax Rates 125 Principal Property Taxpayers 126 Property Tax Levies and Collections 127

Debt Capacity:

Outstanding Debt by Type 128 Direct and Overlapping Governmental Activities Debt 129 Legal Debt Margin Information 130

Demographic and Economic Information:

County-Wide Demographic and Economic Statistics 131 Principal Employers 132

Operating Information: Full-Time Equivalent District Employees by Type 133 Operating Statistics 135 Capital Assets Information 136

(This page intentionally left blank)

INTRODUCTORY SECTION

i

November 16, 2012 Citizens and Governing Board Agua Fria Union High School District No. 216 1481 North Eliseo Felix Jr. Way, Suite 110 Avondale, Arizona 85323 State law mandates that school districts required to undergo an annual single audit publish a complete set of financial statements presented in conformity with accounting principles generally accepted in the United States of America and audited in accordance with auditing standards generally accepted in the United States by a certified public accounting firm licensed in the State of Arizona. Pursuant to that requirement, we hereby issue the comprehensive annual financial report of the Agua Fria Union High School District No. 216 for the fiscal year ended June 30, 2012. This report consists of management’s representations concerning the finances of the Agua Fria Union High School District No. 216. Consequently, management assumes full responsibility for the completeness and reliability of all of the information presented in this report. To provide a reasonable basis for making these representations, management of the Agua Fria Union High School District No. 216 has established a comprehensive internal control framework that is designed both to protect the District’s assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the Agua Fria Union High School District No. 216’s financial statements in conformity with accounting principles generally accepted in the United States of America. Because the cost of internal controls should not outweigh their benefits, the Agua Fria Union High School District No. 216’s comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free of material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. The District’s financial statements have been audited by Heinfeld, Meech & Co., P.C., a certified public accounting firm. The goal of the independent audit was to provide reasonable assurance that the financial statements of the District for the fiscal year ended June 30, 2012, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditors concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the District’s financial statements for the fiscal year ended June 30, 2012, are fairly presented in conformity with accounting principles generally accepted in the United States of America. The independent auditors’ report is presented as the first component of the financial section of this report.

GOVERNINGBOARD ADMINISTRATION.

Mrs. Margaret Wood Carl Dr. Dennis Runyan Mr. O.K. Fulton Superintendent Ms. Maxine Hill Mrs. Debbie Piña Mr. Tom Rosztoczy

1481 N. Eliseo Felix Jr. Way, Suite 110, Avondale, AZ 85323 VOICE (623) 932-7000 FAX (623) 932-2796

ii

The independent audit of the financial statements of the District was part of a broader, federally mandated Single Audit as required by the provisions of the Single Audit Act Amendments of 1996 and U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments and Non-Profit Organizations designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the District’s internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. These reports are available in a separately issued Single Audit Reporting Package. Accounting principles generally accepted in the United States of America require that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The District’s MD&A can be found immediately following the report of the independent auditors. PROFILE OF THE DISTRICT The District is one of 58 public school districts located in Maricopa County, Arizona. It provides a program of public education from grades nine through twelve, with an estimated current enrollment of 6,649. The District’s Governing Board is organized under Section 15-321 of the Arizona Revised Statutes (A.R.S.). Management of the District is independent of other state or local governments. The County Treasurer collects taxes for the District, but exercises no control over its expenditures/expenses. The membership of the Governing Board consists of five members elected by the public for four-year terms on a staggered basis. Under existing statutes, the Governing Board’s duties and powers include, but are not limited to, the acquisition, maintenance and disposition of school property; the development and adoption of a school program; and the establishment, organization and operation of schools. The Board also has broad financial responsibilities, including the approval of the annual budget, and the establishment of a system of accounting and budgetary controls. The financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity in conformity with generally accepted accounting principles. The District is a primary government because it is a special-purpose government that has a separately elected governing body, is legally separate, and is fiscally independent of other state or local governments. Furthermore, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity. Consequently, the District’s financial statements include only those funds for which its elected governing board is financially accountable. The District’s major operations include education, student transportation, construction and maintenance of District facilities, food services, bookstore, and athletic functions.

iii

The District encompasses approximately 99 square miles and is located approximately 15 miles west of downtown Phoenix, Arizona. A portion of the City of Avondale, Arizona, the City of Buckeye, Arizona, the City of Goodyear, Arizona, the City of Litchfield Park, Arizona, the City of Glendale, Arizona, and the City of Phoenix, Arizona are included within the boundaries of the District. Residents of Avondale Elementary School District No. 44 of Maricopa County, Arizona and Litchfield Elementary School District No. 79 of Maricopa County, Arizona are served by the District. The estimated population within the District is 110,000. The annual expenditure budget serves as the foundation for the District’s financial planning and control. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual expenditure budget approved by the District’s Governing Board. The expenditure budget is prepared by fund for all Governmental Funds, and includes function and object code detail for the General Fund and some Special Revenue and Capital Projects Funds. The legal level of budgetary control (that is, the level at which expenditures cannot exceed the appropriated amount) is established at the individual fund level for all funds. Funds that are not required to legally adopt a budget may have overexpenditures of budgeted funds. The budget for these funds is simply an estimate and does not prevent the District from exceeding the budget as long as the necessary revenue is earned. The District is not required to prepare an annual budget of revenue, therefore a deficit budgeted fund balance may be presented. However, this does not affect the District’s ability to expend monies.

FACTORS AFFECTING FINANCIAL CONDITION

The information presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the District operates. Local Economy. The economy of the cities of Goodyear and Avondale and of Maricopa County, in general, is among the most positive in the State. Because of the District’s close proximity to Phoenix, it is located in the direct path of the westward expansion of the City. Although agriculture has been the economic mainstay of the area for many years, commerce, light manufacturing, and residential development continue to expand and contribute to the District’s growth and economic diversity. Some of the firms operating within the District’s boundaries include Lockheed Martin, Cavco Industries, Inc., Arizona Public Services, Snyder of Hanover, and McLane Company, Inc. The area is experiencing slow expansion in retail service centers and commercial facilities. New housing starts for both the cities of Goodyear and Avondale have slowed significantly. These two cities are each governed by a mayor and a six-member council. There continues to be interest from the City of Goodyear to seek an institution of higher education to locate in the community and ongoing discussions continue to evolve. The City of Phoenix is the capital and largest city of Arizona and is the county seat as well. Phoenix was founded in 1870 and incorporated in 1881. The city encompasses an area of over 500 square miles. Phoenix is the fifth most populous city in the United States and according to the 2011 census the population of the City was 1,451,966. The Phoenix metropolitan area is the population and economic activity center of the entire state. Phoenix is one of the leaders in the economics of the Southwestern area of the United States. The City of Phoenix maintains a Moody’s general obligation bond rating of Aa1. It enjoys a highly diversified economic base consisting of manufacturing, agriculture, tourism, construction, education, distribution centers, finance and retailing.

iv

Phoenix and the rest of Maricopa County have become one of the fastest growing regional markets in the United States. Projections show the region is expected to grow by nearly 60 percent by 2030. This growth has been stimulated by a combination of warm climate, a substantial well educated labor pool, a wide range of support industries, and a governmental climate that is supportive of economic growth and investment. Service is the largest employment sector in the County, partly fueled by the $2+ billion per year tourist industry. The County has excellent accommodations, diverse cultural and recreational activities, and a favorable climate attracting millions to the area annually. Wholesale and retail trade is the second largest employment category, employing over a quarter million people. Manufacturing consisting primarily of high technology companies is the third largest employment sector. Other factors aiding economic growth include major expansions of the international airport serving the area, a favorable business climate and the presence of a well-developed and expanding transportation infrastructure. Solar technology firms have opened recently in the west valley as well. The District is presently served by four school facilities, the Agua Fria campus, which historically is the oldest campus is located in Avondale, the Millennium and Desert Edge campuses located in Goodyear, and the Verrado Campus located in Buckeye. The average age of the school buildings is 25 years old. Two of the four high schools have been built within the past 15 years. The Agua Fria campus was established in 1956 and has been expanded and modernized frequently over the subsequent years. The campus was expanded from 40 to 60 acres in the 1960’s. New covered solar parking structures were recently added through a contracted agreement which will lead to anticipated savings on energy costs over the next 20 years. On November 8, 2011 a district bond was approved which will lead to additional publicly approved capital projects. The district alternative educational program is also housed in the old district office which is also located on the south east corner of the Agua Fria campus. Transportation facilities supporting the 52 school bus transportation fleet and warehousing are located at this campus as well. The 60 acre Millennium High School campus was established in 1979 and also has undergone continuous expansion to keep pace with rapid student growth. The campus has 220,000 square feet of instructional and support space, and also has a high efficiency central plant. Currently about 2,200 grades 9 - 12 students attend this campus, and a master planning process is ongoing to coordinate the next expansion cycle sized to accommodate 2,500 students. New covered solar parking structures were recently added through a contract agreement which will save on energy costs over the next twenty years. This campus will also see positive increases to instructional space through the recently passed bond on November 8, 2011. The Desert Edge High School campus was established in 2002 and has 211,600 square feet of primarily internal building space. Only the Auditorium is detached from the main building. This school was the first LEED Silver rated “green” high school in Arizona. The campus has a 700 kW solar photovoltaic power system on its roof, high efficiency central plant, and is in excellent condition. A major expansion to the 55 acre site was complete in 2006 which nearly doubled the classroom space and added an auditorium. The campus is adjacent to the planned Goodyear City Center complex and will easily integrate into cultural, government and business enterprises planned for this area.

v

Verrado High School was completed in 2007 on a 47 acre site in the master planned community of Verrado. It is also a single building of 220,300 square feet and is LEED Silver certified – the second high school in Arizona to achieve this rating. The low water use and highly efficient systems in this school consume about 40% less water and energy than traditional school buildings. The school has a 350 kW solar photovoltaic power system on its roof and very high efficiency central plant systems. The school is a revolutionary open design which promotes project-based and experiential learning in 4 small learning community “houses” and a large and flexible electives wing that supports fine and performing arts, advanced science classrooms, TV studio, computer and pre-engineering labs. The District also owns a 50 acre site and has a design that was reviewed and ready for permitting by Goodyear when placed on hold in 2008 due to the economic downturn. When growth conditions permit, the shovel-ready school can be rapidly constructed, either in two phases, or one as needed. The design is a LEED for Schools Silver certified highly efficient single building design. A 35,000 square foot office building in Avondale constructed in 2005 was acquired in 2010 through foreclosure at a fraction of its original cost. Minor remodeling was completed to serve as the new central district office and learning center. The district also leases suites in this facility with funds going toward paying down the bond debt. The whole District currently employs 24 principals and administrators, 336 certified staff, and 319 classified support personnel. Long-term Financial Planning. The District has completed the design phase for its fifth high school that was approved by the School Facilities Board (SFB) for $32,056,000, for a capacity of 1,600 students. Due to an economic downturn, the School Facilities Board has decided to stop funding and reassess the need for an additional high school in 2015. On November 8, 2011, the Agua Fria Union High School District passed a $31,600,000 bond to provide additional classroom space, building renovations and replacement of an aging bus fleet. Repayment of both principal and interest on the bonds would occur over a period of fifteen (15) years. Although growth has slowed in some areas, the District expects growth to continue for years to come. Average daily membership is projected by the District to increase approximately to 6,800 by fiscal year 2013-2014. The District is currently allocating its resources in preparation for such future growth. Five Year Forecast for the District The District has been working to implement upgraded technology systems to assist with instructional delivery practices. To date, three of the high schools now have access to wireless capabilities. Access for the fourth and final high school will be completed by the end of the calendar year. The District is also working with PD 360 to upgrade staff development software and to customize the training opportunities available through this process.

vi

The District has cut dollars and administrative costs due to current economic conditions during the past two years including mid-year sweeps by the state. Currently, growth is considered flat for the 2012-13 school year. The possible projected cuts for 2012 – 2013 will factor in the District’s continuing challenges for fiscal stability. The District has joined the state of Arizona and forty other states in adopting the common core standards in Math and English. This process will require additional curriculum writing, classroom resources, and vertical alignment. This process will continue to take place over the next few school years as assessments are developed and adopted. There remains concern since the state has not provided any funding for development of on-line assessment procedures for the common core. The educational leadership of the State of Arizona has requested districts continue to seek alternative ways to “blend” the curriculum and to provide students with personalized access to on-line curriculum and other resources. The cost indicators, and the ability of providing these services, will require the State Department of Education and the Arizona Legislature to provide base funding for the technology and resources needs for such an initiative. AWARDS AND ACKNOWLEDGMENTS Awards. The Association of School Business Officials (ASBO) awarded a Certificate of Excellence in Financial Reporting to the District for its comprehensive annual financial report for the fiscal year ended June 30, 2011. In addition, the Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the District for its comprehensive annual financial report for the fiscal year ended June 30, 2011. In order to be awarded these certificates, the District published an easily readable and efficiently organized comprehensive annual financial report. This report satisfied both accounting principles generally accepted in the United States of America and applicable legal requirements. These certificates are valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the programs’ requirements and we are submitting it to ASBO and GFOA to determine its eligibility for the fiscal year 2011-12 certificates. Acknowledgments. The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the business and finance department. Each member of the department has our sincere appreciation for the contributions made in the preparation of this report. In closing, without the leadership and support of the Governing Board of the District, preparation of this report would not have been possible. Respectfully submitted,

Dr. Dennis Runyan Superintendent

vii

This Certificate of Excellence in Financial Reporting is presented to


For its Comprehensive Annual Financial Report (CAFR) For the Fiscal Year Ended June 30, 2011

Upon recommendation of the Association’s Panel of Review which has judged that the Report substantially conforms to principles and standards of ASBO’s Certificate of Excellence Program

President Executive Director

x


LIST OF PRINCIPAL OFFICIALS

GOVERNING BOARD

O.K. Fulton President

Maxine Hill Debbie Piña Clerk Member

Margaret Wood Carl Tom Rosztoczy

Member Member

ADMINISTRATIVE STAFF

Dr. Dennis Runyan, Superintendent

Mr. Kevin Imes, Assistant Superintendent of Educational Services

Mrs. Sandra Haiflich, Director of Human Resources

Mrs. Anna Marquez, Director of Business Services

Mr. Mike Shepard, Chief Information Officer

Mr. Carlos Robles, Executive Director of Facilities & Safety

Mr. Matt Bentz, Principal, Agua Fria High School

Dr. Bob Grey, Principal, Desert Edge High School

Mr. John Speer, Principal, Millennium High School

Mr. Tom Huffman, Principal, Verrado High School

FINANCIAL SECTION

INDEPENDENT AUDITORS’ REPORT Governing Board Agua Fria Union High School District No. 216 We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the Agua Fria Union High School District No. 216 (District), as of and for the year ended June 30, 2012, which collectively comprise the District’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of the District’s management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the Agua Fria Union High School District No. 216 as of June 30, 2012, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated November 16, 2012, on our consideration of Agua Fria Union High School District No. 216’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 to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.

TUCSON • PHOENIX • FLAGSTAFF • ALBUQUERQUE www.heinfeldmeech.com

3033 N. Central Ave., Suite 300Phoenix, Arizona 85012

Tel (602) 277-9449Fax (602) 277-9297

Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis on pages 5 through 14 and budgetary comparison information on pages 50 and 51 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States 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. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the District’s financial statements as a whole. The accompanying supplementary information such as the introductory section, combining and individual fund financial statements and schedules, and statistical section are presented for purposes of additional analysis and are not a required part of the financial statements. The combining and individual fund financial statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. HEINFELD, MEECH & CO., P.C. CPAs and Business Consultants November 16, 2012

MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) (Required Supplementary Information)

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A)

YEAR ENDED JUNE 30, 2012

Page 5

As management of the Agua Fria Union High School District No. 216 (District), we offer readers of the District’s financial statements this narrative overview and analysis of the financial activities of the District for the fiscal year ended June 30, 2012. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal, which can be found in the introductory section of this report. FINANCIAL HIGHLIGHTS

The District’s total net assets of governmental activities decreased $3.1 million, which

represents a 3 percent decrease from the prior fiscal year. General revenues accounted for $43.8 million in revenue, or 85 percent of all current

fiscal year revenues. Program specific revenues in the form of charges for services and grants and contributions accounted for $8.0 million, or 15 percent of total current fiscal year revenues.

The District had approximately $53.7 million in expenses related to governmental

activities, an increase of 3 percent from the prior fiscal year.

Among major funds, the General Fund had $34.6 million in current fiscal year revenues, which primarily consisted of state aid and property taxes, and $37.9 million in expenditures. The General Fund’s fund balance decrease from $9.9 million at the prior fiscal year end to $6.7 million at the end of the current fiscal year was primarily due to expenditures exceeding revenues.

OVERVIEW OF FINANCIAL STATEMENTS This discussion and analysis are intended to serve as an introduction to the District’s basic financial statements. The District’s basic financial statements comprise three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.



Page 6

OVERVIEW OF FINANCIAL STATEMENTS (Cont’d) Government-wide financial statements. The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business. The accrual basis of accounting is used for the government-wide financial statements. The statement of net assets presents information on all of the District’s assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. The statement of activities presents information showing how the District’s net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused compensated absences). The government-wide financial statements outline functions of the District that are principally supported by property taxes and intergovernmental revenues. The governmental activities of the District include instruction, support services, operation and maintenance of plant services, student transportation services, operation of non-instructional services, and interest on long-term debt. Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the District can be divided into two categories: governmental funds and fiduciary funds.

Governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements use the modified accrual basis of accounting and focus on near-term inflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the District’s near-term financing requirements.



Page 7

OVERVIEW OF FINANCIAL STATEMENTS (Concl’d) Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decision. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the General Fund, Debt Service Fund, and Bond Building Fund, all of which are considered to be major funds. Data from the other governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements and schedules. Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the District. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the District’s own programs. Due to their custodial nature, fiduciary funds do not have a measurement focus.

Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found immediately following the basic financial statements. Other information. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the District’s budget process. The District adopts an annual expenditure budget for all governmental funds. A schedule of revenues, expenditures and changes in fund balances - budget and actual has been provided for the General Fund as required supplementary information.



Page 8

GOVERNMENT-WIDE FINANCIAL ANALYSIS Net assets may serve over time as a useful indicator of a government’s financial position. In the case of the District, assets exceeded liabilities by $98.2 million at the current fiscal year end. The largest portion of the District’s net assets reflects its investment in capital assets (e.g., land and improvements, buildings and improvements, vehicles, furniture and equipment and construction in progress), less any related debt used to acquire those assets that is still outstanding. The District uses these capital assets to provide services to its students; consequently, these assets are not available for future spending. Although the District’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. In addition, a portion of the District’s net assets are restricted by statute for debt service repayment, capital outlay investment, federal and state projects, food service, and other local initiatives. The following table presents a summary of the District’s net assets for the fiscal years ended June 30, 2012 and June 30, 2011.

As of June 30, 2012

As of June 30, 2011 (as restated)

Current and other assets $ 46,572,697 $ 28,112,207 Capital assets, net 120,158,359 125,277,861

Total assets, net 166,731,056 153,390,068 Current and other liabilities 2,013,036 2,820,080 Long-term liabilities 66,563,208 49,279,821

Total liabilities 68,576,244 52,099,901 Net assets: Invested in capital assets, net of related debt 76,177,840 76,837,367 Restricted 7,506,394 7,495,665 Unrestricted 14,470,578 16,957,135

Total net assets $ 98,154,812 $ 101,290,167 At the end of the current fiscal year the District reported positive balances in all three categories of net assets. The same situation held true for the prior fiscal year. The District’s financial position is the product of several financial transactions including the net result of activities, the acquisition and payment of debt, the acquisition and disposal of capital assets, and the depreciation of capital assets.



Page 9

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Cont’d) The following is a significant current year transaction that had an impact on the Statement of Net Assets.

The issuance of $22.3 million of general obligation bonds.

Changes in net assets. The District’s total revenues and special items for the current fiscal year were $50.5 million. The total cost of all programs and services was $53.7 million. The following table presents a summary of the changes in net assets for the fiscal years ended June 30, 2012 and June 30, 2011.

Fiscal Year Ended

June 30, 2012

Fiscal Year Ended

June 30, 2011(as restated)

Revenues: Program revenues: Charges for services $ 4,171,088 $ 4,778,694Operating grants and contributions 3,465,451 3,369,305Capital grants and contributions 371,522 274,628

General revenues: Property taxes 23,731,483 25,566,262Investment income 100,039 127,219Unrestricted county aid 1,684,782 1,589,724Unrestricted state aid 18,190,009 15,857,917Unrestricted federal aid 83,247 203,708

Loss on disposal of assets (1,264,648) Total revenues and special items 50,532,973 51,767,457

Expenses: Instruction 29,380,652 28,049,044Support services – students and staff 6,102,355 5,666,994Support services – administration 4,532,523 4,254,358Operation and maintenance of plant services 7,054,160 6,205,189Student transportation services 3,081,129 2,878,481Operation of non-instructional services 2,634,066 2,446,619Interest on long-term debt 883,443 2,263,935

Total expenses 53,668,328 51,764,620Change in net assets (3,135,355) 2,837

Net assets, beginning 101,290,167 101,287,330Net assets, ending $ 98,154,812 $ 101,290,167



Page 10

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Cont’d)

The following are significant current year transactions that had an impact on the change in net assets.

Decrease in property tax revenue of $1.8 million due to decreased assessed valuations.

Increase in unrestricted state aid of $2.3 million.

Loss on disposal of assets of $1.3 million, as a result of beginning the construction of a new high school that will no longer be constructed.

The following table presents the cost of the District’s major functional activities. The table also shows each function’s net cost (total cost less charges for services generated by the activities and intergovernmental aid provided for specific programs). The net cost shows the financial burden that was placed on the State and District’s taxpayers by each of these functions.

$0

$5

$10

$15

$20

$25

$30

Mil

lion

s

Expenses

FY2011-12

FY2010-11



Page 11

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Concl’d)

Year Ended June 30, 2012

Year Ended June 30, 2011 (as restated)

Total Expenses

Net (Expense)/Revenue

Total Expenses

Net (Expense)/Revenue

Instruction $ 29,380,652 $ (24,642,139) $ 28,049,044 $ (24,578,670)Support services - students and staff 6,102,355 (5,768,647) 5,666,994 (5,216,383)Support services – administration 4,532,523 (4,488,029) 4,254,358 (4,212,020)Operation and maintenance of plant services 7,054,160 (6,781,751) 6,205,189 (5,600,702)Student transportation services 3,081,129 (3,066,634) 2,878,481 (2,816,756)Operation of non-instructional services 2,634,066 (29,624) 2,446,619 1,346,473 Interest on long-term debt 883,443 (883,443) 2,263,935 (2,263,935)

Total $ 53,668,328 $ (45,660,267) $ 51,764,620 $ (43,341,993)

The cost of all governmental activities this year was $53.7 million.

Federal and State governments and charges for services subsidized certain programs with grants and contributions and other local revenues of $8.0 million.

Net cost of governmental activities of $45.7 million was financed by general revenues,

which are made up of primarily property taxes of $23.7 million, and state and county aid of $19.9 million.

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds. The focus of the District’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the District’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of the District’s net resources available for spending at the end of the fiscal year. The financial performance of the District as a whole is reflected in its governmental funds. As the District completed the year, its governmental funds reported a combined fund balance of $35.5 million, an increase of $19.0 million due primarily to the issuance of $22.3 million in school improvement bonds.



Page 12

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS (Concl’d) The General Fund comprises 19 percent of the total fund balance. Approximately $6.2 million or 93 percent of the General Fund’s fund balance constitutes unassigned fund balance. The General Fund is the principal operating fund of the District. The decrease in fund balance of $3.2 million to $6.7 million as of fiscal year end was a result of expenditures exceeding revenues. General Fund revenues increased $957,680 or 3 percent, while General Fund expenditures increased $2.0 million or 6 percent. The increase in fund balance of $620,450 to $1.4 million in the Debt Service Fund is primarily due to premium and interest which is required to be transferred from the Bond Building Fund. The fund balance increase of $21.6 million in the Bond Building Fund, was a result of the issuance of $22.3 million of school improvement bonds. BUDGETARY HIGHLIGHTS Over the course of the year, the District revised the General Fund annual expenditure budget for legislative adjustments. The difference between the original budget and the final amended budget was a $1.0 million decrease, or 3 percent. Significant variances for the final amended budget and actual revenues resulted from the District not being required by the State of Arizona to prepare a revenue budget. A schedule showing the original and final budget amounts compared to the District’s actual financial activity for the General Fund is provided in this report as required supplementary information. There were no significant expenditure variances. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets. At year end, the District had invested $164.3 million in capital assets, including school buildings, athletic facilities, buses and other vehicles, computers, and other equipment. This amount represents a net decrease prior to depreciation of $1.4 million from the prior fiscal year, primarily due to the disposal of previously capitalized costs from the construction a new high school that will no longer be completed. Total depreciation expense for the current fiscal year was $4.7 million.



Page 13

CAPITAL ASSETS AND DEBT ADMINISTRATION (Concl’d) The following schedule presents a summary of capital asset balances for the fiscal years ended June 30, 2012 and June 30, 2011.

As of June 30, 2012

As of June 30, 2011

Capital assets - non-depreciable $ 21,470,353 $ 20,816,262 Capital assets - depreciable, net 98,688,006 104,461,599

Total $ 120,158,359 $ 125,277,861 Additional information on the District’s capital assets can be found in Note 6. Debt Administration. At year-end, the District had $65.6 million in long-term debt outstanding, $5.4 million due within one year. This represents a net increase of $17.2 million. The District’s general obligation bonds are subject to two limits; the Constitutional debt limit (total debt limit) on all general obligation bonds (up to 15 percent of the total secondary assessed valuation) and the statutory debt limit on Class B bonds (the greater of 5 percent of the secondary assessed valuation or $1,500 per student). The current total debt limitation for the District is $153.7 million, and the Class B debt limit is $51.2 million, which are more than the District’s total outstanding general obligation and Class B debt, respectively. Additional information on the District’s long-term debt can be found in Notes 7-9. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES Many factors were considered by the District’s administration during the process of developing the fiscal year 2012-13 budget. Among them:

Fiscal year 2012-13 budget balance carry forward ($1,469,088). District student population (estimated 6,646). Employee salaries.

Also considered in the development of the budget is the local economy and inflation of the surrounding area. Budgeted expenditures in the General Fund increased 1 percent to $38.8 million in fiscal year 2012-13. State aid and property taxes are expected to be the primary funding sources. No new programs were added to the 2012-13 budget.



Page 14

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 demonstrate the District’s accountability for the resources it receives. If you have questions about this report or need additional information, contact the Business and Finance Department, Agua Fria Union High School District No. 216, 1481 North Eliseo Felix Jr. Way, Suite 110, Avondale, Arizona 85323 or (623) 932-7000.

BASIC FINANCIAL STATEMENTS

GOVERNMENT-WIDE FINANCIAL STATEMENTS

ASSETSCurrent assets:

Cash and investmentsProperty taxes receivableDepositsAccounts receivableDue from governmental entitiesPrepaid items

Total current assets

Noncurrent assets:Deferred chargesLandLand improvementsBuildings and improvementsVehicles, furniture and equipmentConstruction in progressAccumulated depreciation

Total noncurrent assetsTotal assets

LIABILITIESCurrent liabilities:

Accounts payableConstruction contracts payableDeposits held for othersAccrued payroll and employee benefitsCompensated absences payableAccrued interest payableUnearned revenuesBonds payable

Total current liabilities

Noncurrent liabilities:Non-current portion of long-term obligations

Total noncurrent liabilitiesTotal liabilities

NET ASSETSInvested in capital assets, net of related debtRestricted for:

Federal and state projectsFood serviceOther local initiativesDebt serviceCapital outlay

UnrestrictedTotal net assets

Governmental Activities

$ 36,103,7133,699,394

70,07649,955

6,072,661461,373

46,457,172

115,52520,816,26218,867,300

115,793,8858,125,429

654,091(44,098,608)120,273,884166,731,056

337,073259,56517,154

479,049415,060880,39539,800

5,375,0007,803,096

60,773,14860,773,14868,576,244

76,177,840

842,344410,285

2,988,3201,537,5201,727,925

14,470,578$ 98,154,812

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216STATEMENT OF NET ASSETS

JUNE 30, 2012

The notes to the basic financial statements are an integral part of this statement.

Page 18

Program Revenues

Net (Expense) Revenue and

Changes in Net Assets

Functions/ProgramsGovernmental activities:

InstructionSupport services - students and staffSupport services - administrationOperation and maintenance

of plant servicesStudent transportation servicesOperation of non-instructional servicesInterest on long-term debt

Total governmental activities

Expenses

$ 29,380,6526,102,3554,532,523

7,054,1603,081,1292,634,066

883,443$ 53,668,328

Charges for Services

$ 2,426,656

184,585

1,559,847

$ 4,171,088

Operating Grants and

Contributions

$ 1,940,335333,70844,494

87,82414,495

1,044,595

$ 3,465,451

Capital Grants and

Contributions

$ 371,522

$ 371,522

Governmental Activities

$ (24,642,139)(5,768,647)(4,488,029)

(6,781,751)(3,066,634)

(29,624)(883,443)

(45,660,267)

General revenues:Taxes:

Property taxes, levied for general purposesProperty taxes, levied for debt serviceProperty taxes, levied for capital outlay

Investment incomeUnrestricted county aidUnrestricted state aidUnrestricted federal aid

Special item - Loss on disposal of assets Total general revenues and special items

Changes in net assets

Net assets, beginning of year, as restated

Net assets, end of year

16,936,3326,550,020

245,131100,039

1,684,78218,190,009

83,247(1,264,648)42,524,912

(3,135,355)

101,290,167

$ 98,154,812

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216STATEMENT OF ACTIVITIESYEAR ENDED JUNE 30, 2012

Page 19


FUND FINANCIAL STATEMENTS

ASSETSCash and investmentsProperty taxes receivableDepositsAccounts receivableDue from governmental entitiesDue from other fundsPrepaid items

Total assets

LIABILITIES AND FUND BALANCESLiabilities:

Accounts payableConstruction contracts payableDeposits held for othersDue to other fundsAccrued payroll and employee benefitsDeferred revenuesBonds payableBond interest payable

Total liabilities

Fund balances:NonspendableRestrictedUnassigned

Total fund balances

Total liabilities and fund balances

General

$ 1,391,4863,429,060

9,7105,209,495

56,856461,373

$ 10,557,980

$ 160,927

448,7923,257,617

3,867,336

461,373

6,229,2716,690,644

$ 10,557,980

Debt Service

$ 7,595,940196,975

$ 7,792,915

$

150,1255,375,000

880,3956,405,520

1,387,395

1,387,395

$ 7,792,915

Bond Building

$ 21,738,234

$ 21,738,234

$123,753

123,753

21,614,481

21,614,481

$ 21,738,234

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216 BALANCE SHEET - GOVERNMENTAL FUNDS

JUNE 30, 2012

Page 22


Non-Major Governmental

Funds

$ 5,378,05373,35970,07640,245

863,166

$ 6,424,899

$ 176,146135,81217,15456,85630,257

168,058

584,283

5,840,616

5,840,616

$ 6,424,899

Total Governmental

Funds

$ 36,103,7133,699,394

70,07649,955

6,072,66156,856

461,373$ 46,514,028

$ 337,073259,56517,15456,856

479,0493,575,8005,375,000

880,39510,980,892

461,37328,842,4926,229,271

35,533,136

$ 46,514,028

Page 23

Total governmental fund balances $ 35,533,136

Amounts reported for governmental activities in the Statement of Net Assets are different because:

Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.

Governmental capital assets $ 164,256,967Less accumulated depreciation (44,098,608) 120,158,359

Some revenues will not be available to pay for current-period expenditures and, therefore, are deferred in the funds.

Property taxes 3,470,423Intergovernmental 65,577 3,536,000

Deferred items related to the net cost of issuance of bonds are amortized over the life of the associated bond issue in the government-wide statements but not reported in the funds. 115,525

Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.

Compensated absences payable (968,208)Bonds payable (60,220,000) (61,188,208)

Net assets of governmental activities $ 98,154,812

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS

TO THE STATEMENT OF NET ASSETSJUNE 30, 2012

Page 25 The notes to the basic financial statements are an integral part of this statement.

Revenues:Other localProperty taxesState aid and grantsFederal aid, grants and reimbursements

Total revenues

Expenditures:Current -

InstructionSupport services - students and staffSupport services - administrationOperation and maintenance of plant servicesStudent transportation servicesOperation of non-instructional services

Capital outlayDebt service -

Principal retirementInterest and fiscal chargesBond issuance costs

Total expenditures

Excess (deficiency) of revenues over expenditures

Other financing sources (uses):Transfers inTransfers outIssuance of school improvement bondsPremium on sale of bonds

Total other financing sources (uses):

Changes in fund balances

Fund balances, beginning of year, as restated

Increase (decrease) in reserve for prepaid items

Fund balances, end of year

General

$ 2,244,46516,727,68715,500,647

83,24734,556,046

19,187,8035,108,8884,099,2456,793,1062,399,779

265,495

37,854,316

(3,298,270)

188,757(86,765)

101,992

(3,196,278)

9,874,199

12,723

$ 6,690,644

Debt Service

$ 2,2366,711,698

6,713,934

5,375,0001,762,366

7,137,366

(423,432)

1,043,882

1,043,882

620,450

766,945

$ 1,387,395

Bond Building

$ 38,132

38,132

671,476

204,335875,811

(837,679)

(957,117)22,300,0001,109,277

22,452,160

21,614,481

$ 21,614,481

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -

GOVERNMENTAL FUNDSYEAR ENDED JUNE 30, 2012

Page 26



Funds

$ 3,801,636313,486

2,947,2243,382,974

10,445,320

4,887,384817,16595,11665,508

192,2742,328,6141,902,020

30,494349

10,318,924

126,396

(188,757)

(188,757)

(62,361)

5,902,977

$ 5,840,616

Total Governmental

Funds

$ 6,086,46923,752,87118,447,8713,466,221

51,753,432

24,075,1875,926,0534,194,3616,858,6142,592,0532,594,1092,573,496

5,405,4941,762,715

204,33556,186,417

(4,432,985)

1,232,639(1,232,639)22,300,0001,109,277

23,409,277

18,976,292

16,544,121

12,723

$ 35,533,136

Page 27

Net changes in fund balances - total governmental funds $ 18,989,015

Amounts reported for governmental activities in the Statement of Activities are different because:

Governmental funds report the portion of capital outlay for capitalized assets as expenditures. However, in the Statement of Activities, the cost of those assets are allocated over their estimated useful lives as depreciation expense.

Expenditures for capitalized assets $ 882,096Less current year depreciation (4,736,950) (3,854,854)

Some revenues in the Statement of Activities that do not provide currentfinancial resources are not reported as revenues in the funds.

Property taxes (21,388)Intergovernmental 65,577 44,189

Bond proceeds provide current financial resources to the governmental funds, but the issuance increases long-term liabilities in the Statementof Activities. (22,300,000)

Repayment of long term debt principal are expenditures in the governmental funds, but the repayment reduces long-term liabilities in the Statement of Net Assets.

Bond principal retirement 5,375,000 Capital lease principal retirement 30,494 5,405,494

The disposal of capital assets resulted in a loss on the Statement of Activities.However, the loss is not an expenditure in the governmental funds. (1,264,648)

Some expenses reported in the Statement of Activities do not require the useof current financial resources and, therefore, are not reported as expendituresin governmental funds.

Compensated absences (128,881)Amortization of deferred charges (25,670) (154,551)

Change in net assets in governmental activities $ (3,135,355)


AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS

YEAR ENDED JUNE 30, 2012TO THE STATEMENT OF ACTIVITIES

Page 28

ASSETSCash and investments

Total assets

LIABILITIESDeposits held for othersDue to student groups

Total liabilities

Agency

$ 1,392,295$ 1,392,295

$ 1,034,312357,983

$ 1,392,295

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES

JUNE 30, 2012

Page 29


AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216 NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2012

Page 30

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Agua Fria Union High School District No. 216 (District) have been prepared in conformity with accounting principles generally accepted in the United States of America as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the District’s accounting policies are described below. A. Reporting Entity The Governing Board is organized under Section 15-321 of the Arizona Revised Statutes (A.R.S.). Management of the District is independent of other state or local governments. The County Treasurer collects taxes for the District, but exercises no control over its expenditures/expenses. The membership of the Governing Board consists of five members elected by the public. Under existing statutes, the Governing Board’s duties and powers include, but are not limited to, the acquisition, maintenance and disposition of school property; the development and adoption of a school program; and the establishment, organization and operation of schools. The Board also has broad financial responsibilities, including the approval of the annual budget, and the establishment of a system of accounting and budgetary controls. The financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity in conformity with generally accepted accounting principles. The District is a primary government because it is a special-purpose government that has a separately elected governing body, is legally separate, and is fiscally independent of other state or local governments. Furthermore, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity. Consequently, the District’s financial statements include only the funds of those organizational entities for which its elected governing board is financially accountable. The District’s major operations include education, student transportation, construction and maintenance of District facilities, food services, bookstore, and athletic functions.


JUNE 30, 2012

Page 31

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d) B. Government-Wide and Fund Financial Statements The government-wide financial statements (i.e., the statement of net assets and the statement of activities) present financial information about the District as a whole. The reported information includes all of the nonfiduciary activities of the District. For the most part, the effect of internal activity has been removed from these statements. These statements are to distinguish between the governmental and business-type activities of the District. Governmental activities normally are supported by taxes and intergovernmental revenues, and are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The District does not have any business-type activities. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. 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 or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes, unrestricted State, Federal and County aid, and other items not included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements. C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation Government-Wide Financial Statements – 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 all eligibility requirements imposed by the grantor or provider have been met. As a general rule, the effect of internal activity has been eliminated from the government-wide financial statements; however, the effects of interfund services provided and used between functions are reported as expenses and program revenues at amounts approximating their external exchange value.


JUNE 30, 2012

Page 32

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d) Fund Financial Statements – Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service resources are provided during the current year for payment of long-term debt principal and interest due early in the following year (not to exceed one month) and, therefore, the expenditures and related liabilities have been recognized. Compensated absences are recorded only when payment is due. Property taxes, State aid and investment income associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. Food services and miscellaneous revenues are not susceptible to accrual because generally they are not measurable until received in cash. Grants and similar awards are recognized as revenue as soon as all eligibility requirements imposed by the grantor or provider have been met. Deferred revenues arise when resources are received by the District before it has legal claim to them, as when grant monies are received prior to meeting all eligibility requirements imposed by the provider. Delinquent property taxes and other receivables that will not be collected within the available period have been reported as deferred revenue on the governmental fund financial statements. The focus of governmental fund financial statements is on major funds rather than reporting funds by type. Each major fund is presented in a separate column. Non-major funds are aggregated and presented in a single column. Fiduciary funds are reported by fund type. The District reports the following major governmental funds:

General Fund – The General Fund is the District’s primary operating fund. It accounts for all resources used to finance District maintenance and operation except those required to be accounted for in other funds. The General Fund includes the District’s Maintenance and Operation Fund as well as the Medicaid Reimbursement, School Opening, School Plant, Indirect Costs, Litigation Recovery, Gifts and Donations, Advertisement and Soft Capital Allocation Funds. These funds are maintained as separate funds for accounting and budgetary purposes but do not meet the criteria for separate reporting in the financial statements.


JUNE 30, 2012

Page 33

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d) Debt Service Fund – The Debt Service Fund accounts for the accumulation of resources for, and the payment of, long-term debt principal, interest and related costs. Bond Building Fund – The Bond Building Fund accounts for proceeds from District bond issues that are expended on the acquisition or lease of sites, construction or renovation of school buildings, improving school grounds, or purchasing pupil transportation vehicles.

Additionally, the District reports the following fund type: Fiduciary Funds – The Fiduciary Funds are Agency Funds which account for resources held by the District on behalf of others. This fund type includes the Student Activities Fund which accounts for monies raised by students to finance student clubs and organizations held by the district as an agent. In addition, funds that account for employee withholdings before the monies are remitted to the appropriate entities are included in the Agency Funds.

The agency funds are custodial in nature and do not have a measurement focus and are reported using the accrual basis of accounting. The agency funds are reported by fund type. D. Cash and Investments A.R.S. require the District to deposit certain cash with the County Treasurer. That cash is pooled for investment purposes, except for cash of the Debt Service and Bond Building Funds that may be invested separately. Interest earned from investments purchased with pooled monies is allocated to each of the District’s funds based on their average balances. As required by statute, interest earnings of the Bond Building Fund are recorded initially in that fund, but then transferred to the Debt Service Fund. All investments are stated at fair value. E. Investment Income Investment income is composed of interest, dividends, and net changes in the fair value of applicable investments. Investment income is included in other local revenue in the fund financial statements.


JUNE 30, 2012

Page 34

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)

F. Receivables and Payables Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the fiscal year is referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.” All receivables, including property taxes receivable, are shown net of an allowance for uncollectibles. G. Property Tax Calendar Property tax levies are obtained by applying tax rates against either the primary assessed valuation or the secondary assessed valuation. Primary and secondary valuation categories are composed of the exact same properties. However, the primary category limits the increase in property values to 10% from the previous year, while there is no limit to the increase in property values for secondary valuation. Override and debt service tax rates are applied to the secondary assessed valuation and all other tax rates are applied to the primary assessed valuation. The County levies real property taxes on or before the third Monday in August, which become due and payable in two equal installments. The first installment is due on the first day of October and becomes delinquent after the first business day of November. The second installment is due on the first day of March of the next year and becomes delinquent after the first business day of May. The billings are considered past due after these dates, at which time the applicable property is subject to penalties and interest. The County also levies various personal property taxes during the year, which are due the second Monday of the month following receipt of the tax notice, and become delinquent 30 days thereafter. Pursuant to A.R.S., a lien against assessed real and personal property attaches on the first day of January preceding assessment and levy; however according to case law, an enforceable legal claim to the asset does not arise.


JUNE 30, 2012

Page 35

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d) H. Prepaid Items Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide and fund financial statements. Prepaid items are recorded as expenses when consumed in the government-wide financial statements. I. Capital Assets Capital assets, which include land and improvements, buildings and improvements; vehicles, furniture, and equipment; and construction in progress, are reported in the government-wide financial statements. Capital assets are defined by the District as assets with an initial, individual cost in excess of $5,000 and an estimated useful life of more than one year. Such assets are recorded at historical cost, or estimated historical cost if actual historical cost is not available. Donated capital assets are recorded at the estimated fair market 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. Capital assets are depreciated using the straight-line method over the following estimated useful lives:

Land improvements 20 years Buildings and improvements 20-50 years Vehicles, furniture and equipment 5-20 years

J. Compensated Absences The District’s employee vacation and sick leave policies generally provide for granting vacation and sick leave with pay. Accrued sick leave is earned by 12-month employees at a rate of 10 days per year of service, 11-month employees at a rate of nine days per year of service, and 10-month employees at a rate of eight days per year of service. All 12-month certified administrators earn four weeks of vacation per year. All 12-month classified employees earn vacation, at a rate of two weeks of vacation after one year of employment, three weeks after three years, and four weeks after 10 years. The current and long-term liabilities, including related benefits, for accumulated vacation and sick leave are reported on the government-wide financial statements. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee leave, resignation and retirements. Generally, resources from the General Fund are used to pay for compensated absences.


JUNE 30, 2012

Page 36

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Concl’d)

K. Long-term Obligations In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities on the statement of net assets. Bond premiums and discounts, as well as issuance costs and the difference between the reacquisition price and the net carrying amount of the old debt, are deferred and amortized over the life of the bonds using the straight-line method over the term of the related debt. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. L. Interfund Activity Flows of cash from one fund to another without a requirement for repayment are reported as interfund transfers. Interfund transfers between governmental funds are eliminated in the Statement of Activities. Interfund transfers in the fund financial statements are reported as other financing sources/uses in governmental funds. M. Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates.

NOTE 2 – FUND BALANCE CLASSIFICATIONS

Fund balances of the governmental funds are reported separately within classifications based on a hierarchy of the constraints placed on the use of those resources. The classifications are based on the relative strength of the constraints that control how the specific amounts can be spent. The classifications are nonspendable, restricted, and unrestricted, which includes committed, assigned, and unassigned fund balance classifications.


JUNE 30, 2012

Page 37

NOTE 2 – FUND BALANCE CLASSIFICATIONS (Cont’d) Nonspendable. The nonspendable fund balance classification includes amounts that cannot be spent because they are not in spendable form, or legally or contractually required to be maintained intact.

Restricted. Fund balance is reported as restricted when constraints placed on the use of resources are either externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments or is imposed by law through constitutional provisions or enabling legislation. Committed. The committed fund balance classification includes amounts that can be used only for the specific purposes imposed by formal action of the Governing Board. Those committed amounts cannot be used for any other purpose unless the Governing Board removes or changes the specified use by taking the same type of action it employed to previously commit those amounts. Assigned. Amounts in the assigned fund balance classification are intended to be used by the District for specific purposes but do not meet the criteria to be classified as restricted or committed. In governmental funds other than the General Fund, assigned fund balance represents the remaining amount that is not restricted or committed. In the General Fund, assigned amounts represent intended uses established by the Governing Board or a management official delegated that authority by the formal Governing Board action.

Unassigned. Unassigned fund balance is the residual classification for the General Fund and includes all spendable amounts not contained in the other classifications. In other governmental funds, the unassigned classification is used only to report a deficit balance resulting from overspending for specific purposes for which amounts had been restricted, committed, or assigned. The District applies restricted resources first when expenditures are incurred for purposes for which either restricted or unrestricted (committed, assigned, and unassigned) amounts are available. Similarly, within unrestricted fund balance, committed amounts are reduced first followed by assigned, and then unassigned amounts when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.


JUNE 30, 2012

Page 38

NOTE 2 – FUND BALANCE CLASSIFICATIONS (Concl’d)

The table below provides detail of the major components of the District’s fund balance classifications at year end.

General

Fund

Debt Service Fund

Bond Building

Fund

Non-Major

Governmental Funds

Fund Balances: Nonspendable:

Prepaid items $ 461,373 $ $ $ Restricted:

Debt service 1,387,395 Capital projects 1,665,244 Bond Building projects 21,614,481 Voter approved initiatives 754,590 Federal and State projects 22,177 Auxiliary operations 577,907 Food service 410,285 Other purposes 2,410,413

Unassigned 6,229,271 Total fund balances $ 6,690,644 $ 1,387,395 $ 21,614,481 $ 5,840,616

NOTE 3 – STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Excess Expenditures Over Budget – At year end, the District had expenditures in funds that exceeded the budgets, however this does not constitute a violation of any legal provisions.

NOTE 4 – CASH AND INVESTMENTS

A.R.S. authorize the District to invest public monies in the State Treasurer’s local government investment pools, the County Treasurer’s investment pool, obligations of the U.S. Government and its agencies, obligations of the State and certain local government subdivisions, interest-bearing savings accounts and certificates of deposit, collateralized repurchase agreements, certain obligations of U.S. corporations, and certain other securities. The statutes do not include any requirements for credit risk, custodial credit risk, concentration of credit risk, interest rate risk, or foreign currency risk for the District’s investments.


JUNE 30, 2012

Page 39

NOTE 4 – CASH AND INVESTMENTS (Concl’d) Custodial Credit Risk – Deposits. Custodial credit risk is the risk that in the event of bank failure the District’s deposits may not be returned to the District. The District does not have a deposit policy for custodial credit risk. At year end, the carrying amount of the District’s deposits was $1,841,363 and the bank balance was $1,955,460. The State Treasurer’s pools are external investment pools, the Local Government Investment Pool (Pool 5) and Local Government Investment Pool-Government (Pool 7), with no regulatory oversight. The pools are not required to register (and are not registered) with the Securities and Exchange Commission. The activity and performance of the pools are reviewed monthly by the State Board of Investment. The fair value of each participant’s position in the State Treasurer investment pools approximates the value of the participant’s shares in the pool and the participants’ shares are not identified with specific investments. No regulatory oversight is provided for the County Treasurer’s investment pool and that pool’s structure does not provide for shares. At year end, the District’s investments consisted of the following.

Average Maturities Fair Value County Treasurer’s investment pool 375 days $ 35,654,645Total $ 35,654,645

Interest Rate Risk. The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. Credit Risk. The District has no investment policy that would further limit its investment choices. As of year end, the District’s investment in the County Treasurer’s investment pool did not receive a credit quality rating from a national rating agency.

Custodial Credit Risk - Investments. The District’s investment in the County Treasurer’s investment pool represents a proportionate interest in the pool’s portfolio; however, the District’s portion is not identified with specific investments and is not subject to custodial credit risk.


JUNE 30, 2012

Page 40

NOTE 5 – RECEIVABLES Receivable balances, net of allowance for uncollectibles, have been disaggregated by type and presented separately in the financial statements with the exception of due from governmental entities. Due from governmental entities, net of allowance for uncollectibles, as of year end for the District’s individual major funds and non-major governmental funds in the aggregate, were as follows.

General

Fund


Funds Due from other governmental entities:

Due from Federal government $ $ 244,345 Due from State government 5,209,495 602,947 Due from other Districts 15,874

Net due from governmental entities $ 5,209,495 $ 863,166 Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the various components of deferred revenue reported in the governmental funds were as follows.

Unavailable Unearned Delinquent property taxes receivable (General Fund) $ 3,257,617 $ Delinquent property taxes receivable (Debt Service Fund) 150,125 Delinquent property taxes receivable (Non-Major

governmental funds) 62,681 Grant drawdowns prior to meeting all eligibility requirements

(Non-Major Governmental Funds) 39,800 Measurable but unavailable revenues (Non-Major

governmental funds) 65,577 Total deferred revenue for governmental funds $ 3,536,000 $ 39,800


JUNE 30, 2012

Page 41

NOTE 6 – CAPITAL ASSETS A summary of capital asset activity for the current fiscal year follows.

Governmental Activities Beginning Balance Increase Decrease

Ending Balance

Capital assets, not being depreciated: Land $ 20,816,262 $ $ $ 20,816,262 Construction in progress 654,091 654,091

Total capital assets, not being depreciated 20,816,262 654,091 21,470,353 Capital assets, being depreciated:

Land improvements 18,774,106 93,194 18,867,300 Buildings and improvements 117,262,799 101,724 1,570,638 115,793,885 Vehicles, furniture and equipment 8,758,393 33,087 666,051 8,125,429

Total capital assets being depreciated 144,795,298 228,005 2,236,689 142,786,614 Less accumulated depreciation for:

Land improvements (5,799,873) (795,039) (6,594,912)Buildings and improvements (30,294,045) (3,368,940) (349,027) (33,313,958)Vehicles, furniture and equipment (4,239,781) (572,971) (623,014) (4,189,738)

Total accumulated depreciation (40,333,699) (4,736,950) (972,041) (44,098,608)

Total capital assets, being depreciated, net 104,461,599 (4,508,945) 1,264,648 98,688,006 Governmental activities capital assets, net $ 125,277,861 $ (3,854,854) $ 1,264,648 $ 120,158,359

Depreciation expense was charged to governmental functions as follows.

Instruction $ 4,202,382Support services – students and staff 7,299Support services – administration 100,428Operation and maintenance of plant services 91,880Student transportation services 328,007Operation of non-instructional services 6,954Total depreciation expense – governmental activities $ 4,736,950

Construction Commitments – At year end, the District had contractual commitments related to various capital projects for the renovating of high school sites. At year end the District had spent $654,091 on the projects and had estimated remaining contractual commitments of $460,911. These projects are being funded with bond proceeds.


JUNE 30, 2012

Page 42

NOTE 7 – OBLIGATIONS UNDER CAPITAL LEASES The District has acquired buses and a modular building under the provisions of long-term lease agreements classified as capital leases. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of their future minimum lease payments as of the inception date. Revenues from the Unrestricted Capital Outlay Fund are used to pay the capital lease obligations. The District made the final payment on the capital lease obligations during the year ended June 30, 2012. The assets acquired through capital leases that meet the District’s capitalization threshold are as follows.

Governmental

Activities Asset:

Vehicles, furniture and equipment $ 413,994Less: Accumulated depreciation 90,845

Total $ 323,149

NOTE 8 – GENERAL OBLIGATION BONDS PAYABLE Bonds payable at year end, consisted of the following outstanding general obligation bonds. Of the total amount originally authorized, $9,300,000 remains unissued. The bonds are both callable and noncallable with interest payable semiannually. Property taxes from the Debt Service Fund are used to pay bonded debt.

Purpose

Original Amount Issued

Interest Rates

Remaining Maturities

Outstanding Principal

June 30, 2012Due WithinOne Year

Governmental activities: School Improvement Bonds, Projects of 2002, Series A (2003) $ 12,000,000

4.0-5.125% 7/1/12-16 $ 4,700,000 $ 725,000

Refunding Bonds, Series 2003 9,410,000 4.0-4.5% 7/1/14-16 6,575,000 School Improvement Bonds, Project of 2002, Series B (2004) 9,465,000

3.0-3.625% 7/1/12-16 5,175,000 750,000

School Improvement Bonds, Project of 2005, Series A (2005) 17,700,000

3.75-5.0% 7/1/12-22 13,475,000 950,000

School Improvement Bonds, Project of 2005, Series B (2006) 9,100,000

4.0-4.5% 7/1/12-22 6,775,000 400,000

School Improvement Bonds, Project of 2005, Series D (2009) 1,620,000

4.125-4.5% 7/1/17-22 1,620,000

Refunding Bond, Series 2009 6,695,000 2.5% 7/1/12-13 4,975,000 2,550,000 School Improvement Bonds, Project of 2011, Series A (2012) 22,300,000

2.0-5.0% 7/1/17-27 22,300,000

Total $ 65,595,000 $ 5,375,000


JUNE 30, 2012

Page 43

NOTE 8 – GENERAL OBLIGATION BONDS PAYABLE (Concl’d) Annual debt service requirements to maturity on general obligation bonds at year end are summarized as follows.

Governmental Activities Year ending June 30: Principal Interest

2013 $ 5,375,000 $ 2,103,6092014 5,425,000 2,285,2062015 5,825,000 2,083,1222016 6,000,000 1,839,0692017 6,240,000 1,569,781

2018-22 20,295,000 5,166,5282023-27 13,905,000 1,467,694

2028 2,530,000 41,113 Total $ 65,595,000 $ 16,556,122

NOTE 9 – CHANGES IN LONG-TERM LIABILITIES

Long-term liability activity for the current fiscal year was as follows.

Beginning Balance Additions Reductions

Ending Balance

Due Within One Year

Governmental activities: Bonds payable $ 48,410,000 $ 22,300,000 $ 5,115,000 $ 65,595,000 $ 5,375,000 Obligations under capital leases 30,494 30,494 Compensated absences payable 839,327 684,762 555,881 968,208 415,060 Governmental activity long-term

liabilities $ 49,279,821 $ 22,984,762 $ 5,701,375 $ 66,563,208 $ 5,790,060


JUNE 30, 2012

Page 44

NOTE 10 – INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS At year end, interfund balances were as follows. Due to/from other funds:

Due from

Due to General

FundNon-Major Governmental

Funds $ 56,856Total $ 56,856

At year end, several funds had negative cash balances in the Treasurer’s pooled cash accounts. Negative cash on deposit with the County Treasurer was reduced by interfund borrowing with the General Fund. All interfund balances are expected to be paid within one year. Interfund transfers:

Transfers in

Transfers out General

FundDebt

Service Fund Total General Fund $ $ 86,765 $ 86,765 Bond Building Fund 957,117 957,117 Non-Major Governmental

Funds 188,757 188,757 Total $ 188,757 $ 1,043,882 $ 1,232,639

Transfers between funds were used to (1) move investment income earned in the Bond Building Fund that is required by statute to be expended in the Debt Service Fund, (2) to move Federal grant funds restricted for indirect costs and (3) to move rental income to the Debt Service Fund to pay down debt associated with the building being leased.

NOTE 11 – CONTINGENT LIABILITIES Compliance – Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures/expenses that may be disallowed by the grantor cannot be determined at this time, although the District expects such amounts, if any, to be immaterial.


JUNE 30, 2012

Page 45

NOTE 11 – CONTINGENT LIABILITIES (Concl’d)

Lawsuits – The District is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the District’s counsel, the resolution of these matters will not have a material adverse effect on the financial condition of the District.

NOTE 12 – PRIOR PERIOD ADJUSTMENT

The July 1, 2011, government-wide net assets and the fund balance of the Non-Major Governmental Funds do not agree to the prior year financial statements due to a correction of an error.

Statement of

Activities


Funds Net Assets/Fund balance, June 30, 2011,

as previously reported $ 101,147,958 $ 5,760,768Prior period activity not recorded 142,209 142,209 Net Assets/Fund balance, July 1, 2011,

as restated $ 101,290,167 $ 5,902,977

NOTE 13 – RISK MANAGEMENT The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The District was unable to obtain general property and liability insurance at a cost it considered to be economically justifiable. Therefore, the District joined the Arizona School Risk Retention Trust, Inc. (ASRRT). ASRRT is a public entity risk pool currently operating as a common risk management and insurance program for school districts and community colleges in the State. The District pays an annual premium to ASRRT for its general insurance coverage. The agreement provides that ASRRT will be self-sustaining through member premiums and will reinsure through commercial companies for claims in excess of specified amounts.


JUNE 30, 2012

Page 46

NOTE 13 – RISK MANAGEMENT (Concl’d) The District’s employees have health and accident insurance coverage with the Arizona School Board Association Insurance Trust (ASBAIT). ASBAIT is a public entity risk pool currently operating as a common risk management and insurance program for school districts in the State. The District pays a monthly premium to ASBAIT for employees’ health and accident insurance coverage. The agreement provides that ASBAIT will be self-sustaining through member premiums and will reinsure through commercial companies for claims in excess of specified amounts. The District joined the Arizona School Alliance for Workers’ Compensation, Inc. (Alliance) together with other school districts in the state for risks of loss related to workers’ compensation claims. The Alliance is a public entity risk pool currently operating as a common risk management and insurance program for school districts in the State. The District pays quarterly premiums to the Alliance for its employee workers’ compensation coverage. The agreement provides that the Alliance will be self-sustaining through members’ premiums and will reinsure through commercial companies for claims in excess of specified amounts for each insured event.

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

The District contributes to the Arizona State Retirement System (ASRS). The ASRS administers a cost-sharing, multiple-employer defined benefit pension plan; a cost-sharing, multiple-employer defined health insurance premium plan; and a cost-sharing, multiple-employer defined benefit long-term disability plan that covers employees of the State of Arizona and employees of participating political subdivisions and school districts. The ASRS is governed by the Arizona State Retirement System Board according to the provisions of A.R.S. Title 38, Chapter 5, Article 2. Plan Description – Benefits are established by state statute and the plan generally provides retirement, long-term disability, and health insurance premium benefits, including death and survivor benefits. The retirement benefits are generally paid at a percentage, based on years of service, of the retirees’ average compensation. Long-term disability benefits vary by circumstance, but generally pay a percentage of the employee’s monthly compensation. Health insurance premium benefits are paid as a fixed dollar amount per month towards the retiree’s healthcare insurance premiums, in amounts based on whether the benefit is for the retiree or for the retiree and his or her dependents.


JUNE 30, 2012

Page 47

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS (Concl’d)

The ASRS issues a comprehensive annual financial report that includes financial statements and required supplementary information. The most recent report may be obtained by writing the ASRS, 3300 North Central Avenue, P.O. Box 33910, Phoenix, Arizona 85067-3910 or by calling (602) 240-2000 or (800) 621-3778. The report is also available on the ASRS’ website at www.azasrs.gov.

Funding Policy – The Arizona State Legislature establishes and may amend active plan members’ and the District’s contribution rates. For the current fiscal year, active ASRS members were required by statute to contribute at the actuarially determined rate of 10.74 percent (10.5 percent for retirement and 0.24 percent for long-term disability) of the members’ annual covered payroll and the District was required by statute to contribute at the actuarially determined rate of 10.74 percent (9.87 percent for retirement, 0.63 percent for health insurance premium, and 0.24 percent for long-term disability) of the members’ annual covered payroll. The District’s contributions for the current and two preceding years, all of which were equal to the required contributions, were as follows.

Retirement

Fund

Health Benefit Supplement

Fund

Long-Term Disability

Fund Year ending June 30:

2012 $ 2,585,797 $ 165,051 $ 62,877 2011 2,361,503 154,638 65,5242010 2,257,677 178,665 108,282

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – BUDGET AND ACTUAL

(Required Supplementary Information)

Revenues:Other localProperty taxesState aid and grants

Total revenues



Total expenditures


Fund balances, beginning of year

Increase (decrease) in reserve for prepaid items


Budgeted Amounts

Original

$ 1,582,00038,314,68212,500,00052,396,682

20,833,3765,111,5864,205,5236,634,2702,384,204

241,92139,410,880

12,985,802

2,746,950

$ 15,732,752

Final

$ 1,582,00038,314,68212,500,00052,396,682

19,727,3895,186,5864,205,5236,634,2702,384,204

241,92138,379,893

14,016,789

2,746,950

$ 16,763,739

Non-GAAP Actual

$ 1,751,29816,727,67414,985,02733,463,999

18,572,5924,974,7664,023,5766,699,3632,314,232

255,30336,839,832

(3,375,833)

6,352,445

12,723

$ 2,989,335

Variance with Final Budget

Positive (Negative)

$ 169,298(21,587,008)

2,485,027(18,932,683)

1,154,797211,820181,947(65,093)

69,972(13,382)

1,540,061

(17,392,622)

3,605,495

12,723

$ (13,774,404)

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216SCHEDULE OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUALGENERAL


Page 50

See accompanying notes to this schedule.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216 NOTE TO REQUIRED SUPPLEMENTARY INFORMATION

JUNE 30, 2012

Page 51

NOTE 1 – BUDGETARY BASIS OF ACCOUNTING The adopted budget of the District is prepared on a basis consistent with accounting principles generally accepted in the United States of America with the following exceptions: 1) a portion of the General Fund revenues and expenditures are budgeted for separately as special revenue and capital projects funds, and 2) a portion of fiscal year 2011-12 insurance payments were charged against the fiscal year 2010-11 budget. Consequently, the following adjustments were necessary to present actual expenditures, fund balance at July 1, 2011 and fund balance at June 30, 2012 on a budgetary basis in order to provide a meaningful comparison.

Total

Expenditures Fund Balance, June 30, 2012

Fund Balance,July 1, 2011

Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds $ 37,854,316 $ 6,690,644 $ 9,874,199

Fiscal year 2011-12 activity budgeted as special revenue funds (116,944) (1,836,466) (1,283,238)

Fiscal year 2011-12 activity budgeted as capital projects funds (212,312) (1,864,843) (1,553,288)Fiscal year 2011-12 insurance payments

charged against fiscal year 2010-11 budget (685,228)

(685,228)Schedule of Revenues, Expenditures and

Changes in Fund Balances – Budget and Actual – General Fund $ 36,839,832 $ 2,989,335

$ 6,352,445

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS

AND SCHEDULES

GOVERNMENTAL FUNDS

ASSETSCash and investmentsProperty taxes receivableDepositsAccounts receivableDue from governmental entities

Total assets


Accounts payableConstruction contracts payableDeposits held for othersDue to other fundsAccrued payroll and employee benefitsDeferred revenues

Total liabilities

Fund balances:Restricted

Total fund balances


Special Revenue

$ 3,622,934

70,07640,245

703,488$ 4,436,743

$ 51,727

17,15456,85630,257

105,377261,371

4,175,3724,175,372

$ 4,436,743

Capital Projects

$ 1,755,11973,359

159,678$ 1,988,156

$ 124,419135,812

62,681322,912

1,665,2441,665,244

$ 1,988,156

Total Non-Major

Governmental Fund

$ 5,378,05373,35970,07640,245

863,166$ 6,424,899

$ 176,146135,812

17,15456,85630,257

168,058584,283

5,840,6165,840,616

$ 6,424,899

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING BALANCE SHEET - ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE

JUNE 30, 2012

Page 56

Revenues:Other localProperty taxesState aid and grantsFederal aid, grants and reimbursements

Total revenues




Principal retirementInterest and fiscal charges

Total expenditures


Other financing sources (uses):Transfers out





Special Revenue

$ 3,762,596

2,469,0593,382,9749,614,629

4,885,400817,16595,11663,358

185,1332,328,614

641,422

9,016,208

598,421

(188,757)(188,757)

409,664

3,765,708

$ 4,175,372

Capital Projects

$ 39,040313,486478,165

830,691

1,984

2,1507,141

1,260,598

30,494349

1,302,716

(472,025)

(472,025)

2,137,269

$ 1,665,244

Total Non-Major

Governmental Funds

$ 3,801,636313,486

2,947,2243,382,974

10,445,320

4,887,384817,165

95,11665,508

192,2742,328,6141,902,020

30,494349

10,318,924

126,396

(188,757)(188,757)

(62,361)

5,902,977

$ 5,840,616

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -

ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPEYEAR ENDED JUNE 30, 2012

Page 57

SPECIAL REVENUE FUNDS Classroom Site - to account for the financial activity for the portion of state sales tax collections and permanent state school fund earnings as approved by the voters in 2000. Instructional Improvement - to account for the activity of monies received from gaming revenue. Title I Grants - to account for financial assistance received for the purpose of improving the teaching and learning of children failing, or most at-risk of failing, to meet challenging State academic standards. Professional Development and Technology Grants - to account for financial assistance received to increase student academic achievement through improving teacher quality. Limited English & Immigrant Students - to account for financial assistance received for educational services and costs for limited English and immigrant children. Special Education Grants - to account for supplemental financial assistance received to provide a free, appropriate public education to disabled children. Vocational Education - to account for financial assistance received for preparation of individuals for employment or advancement in a career not requiring a baccalaureate or advanced degree. Homeless Education - to account for financial assistance received for the education of homeless students. Medicaid Reimbursement - to account for reimbursements related to specific health services provided to eligible students. E-Rate - to account for financial assistance received for broadband internet and telecommunications costs. Other Federal Projects - to account for financial assistance received for other supplemental federal projects. State Vocational Education - to account for financial assistance received for the preparation of individuals for employment. Other State Projects - to account for financial assistance received for other State projects. School Plant - to account for proceeds from the sale or lease of school property.

Food Service - to account for the financial activity of school activities that have as their purpose the preparation and serving of regular and incidental meals and snacks in connection with school functions. Civic Center - to account for monies received from the rental of school facilities for civic activities. Community School - to account for activity related to academic and skill development for all citizens. Auxiliary Operations - to account for activity arising from bookstore, athletic and miscellaneous District related operations as well as to account for activity related to monies collected in support of extracurricular activities to be taken as a tax credit by the tax payer in accordance with ARS §43-1089.01. Gifts and Donations - to account for activity related to gifts, donations, bequests and private grants made to the District. Career and Technical Education and Vocational Education Projects - to account for activity related to the production and subsequent sale of items produced in an instructional program by career and technical and vocational education pupils. Fingerprint - to account for activity of fingerprinting employees as mandated by the State. School Opening - to account for the monies transferred in from the Maintenance and Operation Fund to be expended for maintenance and operation purposes incurred in the first year of operation of a new school within the District. Textbooks - to account for monies received from students to replace or repair lost or damaged textbooks. Litigation Recovery - to account for monies received for and derived from litigation. Indirect Costs – to account for monies transferred from federal projects for administrative costs. Insurance Refund - to account for insurance premium payments that are refunded to the District. Grants and Gifts to Teachers - to account for grants and gifts under $1,500 received from private sources that are designated for use by a teacher for instructional purposes. Advertisement - to account for monies received from the sale of advertising. Joint Technical Education - to account for monies received from Joint Technical Education Districts for vocational education programs.

ASSETSCash and investmentsDepositsAccounts receivableDue from governmental entities

Total assets


Accounts payableDeposits held for othersDue to other fundsAccrued payroll and employee benefitsDeferred revenues

Total liabilities


Total fund balances


Classroom Site

$ 76,051

324,167$ 400,218

$

400,218400,218

$ 400,218

Instructional Improvement

$ 235,270

119,102$ 354,372

$

354,372354,372

$ 354,372

Title I Grants

$ 9,351

$ 9,351

$

9,3519,351

$ 9,351

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS

JUNE 30, 2012

Page 60

Professional Development

and Technology Grants

$

14,262$ 14,262

$ 11,500

2,762

14,262

$ 14,262

Limited English & Immigrant

Students

$

3,140$ 3,140

$

3,140

3,140

$ 3,140

Special Education

Grants

$

38,610$ 38,610

$

38,610

38,610

$ 38,610

Vocational Education

$

12,344$ 12,344

$

12,344

12,344

$ 12,344

Homeless Education

$ 5

$ 5

$

55

$ 5

E-Rate

$ 16,679

65,577$ 82,256

$

65,57765,577

16,67916,679

$ 82,256

Page 61

(Continued)


Total assets



Total liabilities


Total fund balances


Other Federal Projects

$ 5,498

$ 5,498

$

5,4985,498

$ 5,498

State Vocational Education

$ 47,528

$ 47,528

$ 17,608

29,92047,528

$ 47,528

Other State Projects

$ 524

$ 524

$

524524

$ 524


JUNE 30, 2012

Page 62

Food Service

$ 273,01970,076

110,412$ 453,507

$ 12,47817,154

13,590

43,222

410,285410,285

$ 453,507

Civic Center

$ 400,064

40,245

$ 440,309

$

440,309440,309

$ 440,309

Community School

$ 56,861

$ 56,861

$

16,667

16,667

40,19440,194

$ 56,861

Auxiliary Operations

$ 577,907

$ 577,907

$

577,907577,907

$ 577,907

Career, Technical and


$ 6,836

$ 6,836

$

6,8366,836

$ 6,836

Fingerprint

$ 2,168

$ 2,168

$

2,1682,168

$ 2,168

Page 63

(Continued)


Total assets



Total liabilities


Total fund balances


Textbooks

$ 41,247

$ 41,247

$

41,24741,247

$ 41,247

Insurance Refund

$ 4,900

$ 4,900

$

4,9004,900

$ 4,900

Grants and Gifts to Teachers

$ 4,250

$ 4,250

$

4,2504,250

$ 4,250


JUNE 30, 2012

Page 64

Joint Technical Education

$ 1,864,776

15,874$ 1,880,650

$ 10,141

10,141

1,870,5091,870,509

$ 1,880,650

Totals

$ 3,622,93470,07640,245

703,488$ 4,436,743

$ 51,72717,15456,85630,257

105,377261,371

4,175,3724,175,372

$ 4,436,743

Page 65

Revenues:Other localState aid and grantsFederal aid, grants and reimbursements

Total revenues



Capital outlayTotal expenditures







Classroom Site

$ 2,2871,934,200

1,936,487

1,678,867148,878

1,827,745

108,742

108,742

291,476

$ 400,218


$ 2,261276,997

279,258

316,58711,061

327,648

(48,390)

(48,390)

402,762

$ 354,372

Title I Grants

$

320,455320,455

275,31039,403

921

945

316,579

3,876

(3,876)(3,876)

$


NON-MAJOR SPECIAL REVENUE FUNDSYEAR ENDED JUNE 30, 2012

Page 66

Professional Development

and Technology Grants

$

131,896131,896

129,648722

130,370

1,526

(1,526)(1,526)

$

Limited English & Immigrant

Students

$

21,26821,268

14,1386,858

20,996

272

(272)(272)

$

Special Education

Grants

$

940,019940,019

586,159201,079

6,825

128,385922,448

17,571

(17,571)(17,571)

$


$

148,927148,927

38,4396,537

103,377148,353

574

(574)(574)

$

E-Rate

$ 166

81,75181,917

22,687

42,77565,462

16,455

16,455

224

$ 16,679


$ 12

694,063694,075

568,35350,38828,99223,04814,5193,277

688,577

5,498

5,498

$ 5,498

Page 67

(Continued)


Total revenues











$229,080

229,080

48,55066,08640,984

73,460229,080

$


$28,782

28,782

28,198584

28,782

$

Food Service

$ 1,560,939

1,044,5952,605,534

2,310,37823,525

2,333,903

271,631

(164,938)(164,938)

106,693

303,592

$ 410,285



Page 68

Civic Center

$ 186,376

186,376

61,18261,182

125,194

125,194

315,115

$ 440,309

Community School

$ 128,660

128,660

118,875

118,875

9,785

9,785

30,409

$ 40,194


$ 1,178,340

1,178,340

925,696

4,37317,623

169,66914,9594,843

1,137,163

41,177

41,177

536,730

$ 577,907

Career, Technical and


$ 8,811

8,811

2,525

2,525

6,286

6,286

550

$ 6,836

Fingerprint

$ 883

883

883

883

1,285

$ 2,168

Textbooks

$ 9,470

9,470

9,470

9,470

31,777

$ 41,247

Page 69

(Continued)


Total revenues










Insurance Refund

$ 2,272

2,272

1,669

1,669

603

603

4,297

$ 4,900


$ 27

27

500

500

(473)

(473)

4,723

$ 4,250


$ 682,092

682,092

283,703156,143

10,630

203,875654,351

27,741

27,741

1,842,768

$ 1,870,509



Page 70

Totals

$ 3,762,5962,469,0593,382,9749,614,629

4,885,400817,16595,11663,358

185,1332,328,614

641,4229,016,208

598,421

(188,757)(188,757)

409,664

3,765,708

$ 4,175,372

Page 71

Total revenues






Other financing sources (uses):Transfers inTransfers out




Fund balances (deficits), end of year

Classroom Site

Budget

$1,010,005

1,010,005

1,928,693196,175

2,124,868

(1,114,863)

(1,114,863)

129,182

$ (985,681)

Actual

$ 2,2871,934,200

1,936,487

1,678,867148,878

1,827,745

108,742

108,742

291,476

$ 400,218

Variance - Positive

(Negative)

$ 2,287924,195

926,482

249,82647,297

297,123

1,223,605

1,223,605

162,294

$ 1,385,899

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -

BUDGET AND ACTUALNON-MAJOR SPECIAL REVENUE FUNDS


Page 72


Budget

$300,000

300,000

441,843

441,843

(141,843)

(141,843)

402,762

$ 260,919

Actual

$ 2,261276,997

279,258

316,58711,061

327,648

(48,390)

(48,390)

402,762

$ 354,372

Variance - Positive

(Negative)

$ 2,261(23,003)

(20,742)

125,256(11,061)

114,195

93,453

93,453

$ 93,453

Title I Grants

Budget

$

444,483444,483

444,483

444,483

$

Actual

$

320,455320,455

275,31039,403

921

945

316,579

3,876

(3,876)(3,876)

$

Variance - Positive

(Negative)

$

(124,028)(124,028)

169,173(39,403)

(921)

(945)

127,904

3,876

(3,876)(3,876)

$

Page 73(Continued)

Total revenues











Professional Development and Technology Grants

Budget

$

136,423136,423

136,423

136,423

$

Actual

$

131,896131,896

129,648722

130,370

1,526

(1,526)(1,526)

$

Variance - Positive

(Negative)

$

(4,527)(4,527)

6,775(722)

6,053

1,526

(1,526)(1,526)

$




Page 74

Limited English & Immigrant Students

Budget

$

26,10726,107

26,107

26,107

$

Actual

$

21,26821,268

14,1386,858

20,996

272

(272)(272)

$

Variance - Positive

(Negative)

$

(4,839)(4,839)

11,969(6,858)

5,111

272

(272)(272)

$

Special Education Grants

Budget

$

929,366929,366

590,000205,000

134,366929,366

$

Actual

$

940,019940,019

586,159201,079

6,825

128,385922,448

17,571

(17,571)(17,571)

$

Variance - Positive

(Negative)

$

10,65310,653

3,8413,921

(6,825)

5,9816,918

17,571

(17,571)(17,571)

$

Page 75(Continued)

Total revenues












Budget

$

151,829151,829

46,829

105,000151,829

$

Actual

$

148,927148,927

38,4396,537

103,377148,353

574

(574)(574)

$

Variance - Positive

(Negative)

$

(2,902)(2,902)

8,390(6,537)

1,6233,476

574

(574)(574)

$




Page 76

Medicaid Reimbursement

Budget

$

208,392208,392

208,392

208,392

$

Non-GAAP Actual

$ 546

83,24783,793

672

672

83,121

83,121

225,818

$ 308,939

Variance - Positive

(Negative)

$ 546

(125,145)(124,599)

207,720

207,720

83,121

83,121

225,818

$ 308,939

E-Rate

Budget

$

120,000120,000

40,000

80,000120,000

$

Actual

$ 166

81,75181,917

22,687

42,77565,462

16,455

16,455

224

$ 16,679

Variance - Positive

(Negative)

$ 166

(38,249)(38,083)

17,313

37,22554,538

16,455

16,455

224

$ 16,679

Page 77(Continued)

Total revenues












Budget

$

597,844597,844

597,844

597,844

$

Actual

$ 12

694,063694,075

568,35350,38828,99223,04814,5193,277

688,577

5,498

5,498

$ 5,498

Variance - Positive

(Negative)

$ 12

96,21996,231

29,491(50,388)(28,992)(23,048)(14,519)(3,277)

(90,733)

5,498

5,498

$ 5,498




Page 78


Budget

$258,938

258,938

60,00070,00053,938

75,000258,938

$

Actual

$229,080

229,080

48,55066,08640,984

73,460229,080

$

Variance - Positive

(Negative)

$(29,858)

(29,858)

11,4503,914

12,954

1,54029,858

$


Budget

$60,000

60,000

60,000

60,000

$

Actual

$28,782

28,782

28,198584

28,782

$

Variance - Positive

(Negative)

$(31,218)

(31,218)

31,802(584)

31,218

$

Page 79(Continued)

Total revenues











School Plant

Budget

$ 350,000

350,000

350,000

350,000

(113,000)(113,000)

(113,000)

138,658

$ 25,658

Non-GAAP Actual

$ 365,418

365,418

29,3326,885

36,217

329,201

(86,765)(86,765)

242,436

138,658

$ 381,094

Variance - Positive

(Negative)

$ 15,418

15,418

320,668(6,885)

313,783

329,201

26,23526,235

355,436

$ 355,436




Page 80

Food Service

Budget

$ 1,495,515

904,4852,400,000

3,000,000

3,000,000

(600,000)

(200,000)(200,000)

(800,000)

300,913

$ (499,087)

Actual

$ 1,560,939

1,044,5952,605,534

2,310,37823,525

2,333,903

271,631

(164,938)(164,938)

106,693

303,592

$ 410,285

Variance - Positive

(Negative)

$ 65,424

140,110205,534

689,622(23,525)666,097

871,631

35,06235,062

906,693

2,679

$ 909,372

Civic Center

Budget

$ 130,000

130,000

325,000325,000

(195,000)

(195,000)

315,115

$ 120,115

Actual

$ 186,376

186,376

61,18261,182

125,194

125,194

315,115

$ 440,309

Variance - Positive

(Negative)

$ 56,376

56,376

263,818263,818

320,194

320,194

$ 320,194

Page 81(Continued)

Total revenues











Community School

Budget

$ 65,000

65,000

200,000

200,000

(135,000)

(135,000)

30,409

$ (104,591)

Actual

$ 128,660

128,660

118,875

118,875

9,785

9,785

30,409

$ 40,194

Variance - Positive

(Negative)

$ 63,660

63,660

81,125

81,125

144,785

144,785

$ 144,785




Page 82


Budget

$ 1,450,000

1,450,000

1,000,000

560,000

1,560,000

(110,000)

(110,000)

412,815

$ 302,815

Actual

$ 1,178,340

1,178,340

925,696

4,37317,623

169,66914,959

4,8431,137,163

41,177

41,177

536,730

$ 577,907

Variance - Positive

(Negative)

$ (271,660)

(271,660)

74,304

(4,373)(17,623)390,331(14,959)(4,843)

422,837

151,177

151,177

123,915

$ 275,092

Gifts and Donations

Budget

$ 100,000

100,000

242,000

242,000

(142,000)

(142,000)

228,980

$ 86,980

Non-GAAP Actual

$ 117,882

117,882

52,1209,6253,376

65,121

52,761

52,761

337,834

$ 390,595

Variance - Positive

(Negative)

$ 17,882

17,882

189,880(9,625)(3,376)

176,879

194,761

194,761

108,854

$ 303,615

Page 83(Continued)

Total revenues











Career, Technical and Vocational Education

Budget

$ 5,000

5,000

5,000

5,000

550

$ 550

Actual

$ 8,811

8,811

2,525

2,525

6,286

6,286

550

$ 6,836

Variance - Positive

(Negative)

$ 3,811

3,811

2,475

2,475

6,286

6,286

$ 6,286




Page 84

Fingerprint

Budget

$ 750

750

5,000

5,000

(4,250)

(4,250)

1,285

$ (2,965)

Actual

$ 883

883

883

883

1,285

$ 2,168

Variance - Positive

(Negative)

$ 133

133

5,000

5,000

5,133

5,133

$ 5,133

School Opening

Budget

$

3,122

$ 3,122

Non-GAAP Actual

$ 18

18

18

18

3,122

$ 3,140

Variance - Positive

(Negative)

$ 18

18

18

18

$ 18

Page 85(Continued)

Total revenues











Textbooks

Budget

$ 500

500

25,000

25,000

(24,500)

(24,500)

31,777

$ 7,277

Actual

$ 9,470

9,470

9,470

9,470

31,777

$ 41,247

Variance - Positive

(Negative)

$ 8,970

8,970

25,000

25,000

33,970

33,970

$ 33,970




Page 86

Litigation Recovery

Budget

$

13,500

13,500

(13,500)

(13,500)

13,311

$ (189)

Non-GAAP Actual

$ 76

76

76

76

13,311

$ 13,387

Variance - Positive

(Negative)

$ 76

76

13,500

13,500

13,576

13,576

$ 13,576

Indirect Costs

Budget

$ 1,000

1,000

350,000

350,000

(349,000)

200,000

200,000

(149,000)

560,784

$ 411,784

Non-GAAP Actual

$ 972

972

12,168

12,168

(11,196)

188,757

188,757

177,561

560,784

$ 738,345

Variance - Positive

(Negative)

$ (28)

(28)

337,832

337,832

337,804

(11,243)

(11,243)

326,561

$ 326,561

Page 87(Continued)

Total revenues











Insurance Refund

Budget

$ 2,000

2,000

5,000

5,000

(3,000)

(3,000)

4,297

$ 1,297

Actual

$ 2,272

2,272

1,669

1,669

603

603

4,297

$ 4,900

Variance - Positive

(Negative)

$ 272

272

3,331

3,331

3,603

3,603

$ 3,603




Page 88


Budget

$

5,000

5,000

(5,000)

(5,000)

4,723

$ (277)

Actual

$ 27

27

500

500

(473)

(473)

4,723

$ 4,250

Variance - Positive

(Negative)

$ 27

27

4,500

4,500

4,527

4,527

$ 4,527

Advertisement

Budget

$ 500

500

500

500

3,710

$ 4,210

Non-GAAP Actual

$ 21

21

2,766

2,766

(2,745)

(2,745)

3,711

$ 966

Variance - Positive

(Negative)

$ (479)

(479)

(2,766)

(2,766)

(3,245)

(3,245)

1

$ (3,244)

Page 89(Continued)

Total revenues












Budget

$ 656,000

656,000

544,000200,000

250,000994,000

(338,000)

(338,000)

1,842,768

$ 1,504,768

Actual

$ 682,092

682,092

283,703156,14310,630

203,875654,351

27,741

27,741

1,842,768

$ 1,870,509

Variance - Positive

(Negative)

$ 26,092

26,092

260,29743,857

(10,630)

46,125339,649

365,741

365,741

$ 365,741




Page 90

Totals

Budget

$ 4,256,2651,628,9433,518,9299,404,137

6,788,691812,598408,93840,000

560,0003,000,000

969,36612,579,593

(3,175,456)

200,000(313,000)(113,000)

(3,288,456)

4,425,161

$ 1,136,705

Non-GAAP Actual

$ 4,247,5292,469,0593,466,221

10,182,809

4,967,524833,675110,66063,358

187,8992,328,614

641,4229,133,152

1,049,657

188,757(275,522)(86,765)

962,892

5,048,946

$ 6,011,838

Variance - Positive

(Negative)

$ (8,736)840,116(52,708)778,672

1,821,167(21,077)298,278(23,358)372,101671,386327,944

3,446,441

4,225,113

(11,243)37,47826,235

4,251,348

623,785

$ 4,875,133

Page 91

DEBT SERVICE FUND Debt Service - to account for the accumulation of resources for, and the payment of, long-term debt principal, interest and related costs.

Total revenues

Revenues:Other localProperty taxes

Expenditures:Debt service -


Total expenditures


Other financing sources (uses):Transfers in





Debt Service

Budget

$ 25,0006,309,9056,334,905

5,375,0001,761,0007,136,000

(801,095)

113,000113,000

(688,095)

688,095

$

Actual

$ 2,2366,711,6986,713,934

5,375,0001,762,3667,137,366

(423,432)

1,043,8821,043,882

620,450

766,945

$ 1,387,395

Variance - Positive

(Negative)

$ (22,764)401,793379,029

(1,366)(1,366)

377,663

930,882930,882

1,308,545

78,850

$ 1,387,395


BUDGET AND ACTUALALL DEBT SERVICE FUNDSYEAR ENDED JUNE 30, 2012

Page 94

CAPITAL PROJECTS FUNDS Insurance Proceeds - to account for monies received from insurance claims. Unrestricted Capital Outlay - to account for transactions relating to the acquisition of capital items. Adjacent Ways - to account for monies received to finance improvements of public ways adjacent to school property. Soft Capital Allocation - to account for transactions relating to the acquisition of short-term capital items required to meet academic adequacy standards. Bond Building - to account for proceeds from the District bond issues that are expended on the acquisition or lease of sites, construction or renovation of school buildings, improving school grounds, or purchasing pupil transportation vehicles. Building Renewal - to account for monies received from the School Facilities Board that are used for infrastructure or for major upgrades, repairs, or renovations to areas, systems or buildings that will maintain or extend their useful life. New School Facilities - to account for monies received from the School Facilities Board to be used for constructing new school facilities and purchasing land for new school sites.

ASSETSCash and investmentsProperty taxes receivableDue from governmental entities

Total assets


Accounts payableConstruction contracts payableDeferred revenues

Total liabilities


Total fund balances


Insurance Proceeds

$ 6,544

$ 6,544

$

6,5446,544

$ 6,544

Unrestricted Capital Outlay

$ 672,26873,359

159,678$ 905,305

$ 124,419

62,681187,100

718,205718,205

$ 905,305

Adjacent Ways

$ 1,076,154

$ 1,076,154

$135,812

135,812

940,342940,342

$ 1,076,154

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING BALANCE SHEET - NON-MAJOR CAPITAL PROJECTS FUNDS

JUNE 30, 2012

Page 96

Building Renewal

$ 153

$ 153

$

153153

$ 153

Totals

$ 1,755,11973,359

159,678$ 1,988,156

$ 124,419135,81262,681

322,912

1,665,2441,665,244

$ 1,988,156

Page 97


Total revenues


InstructionOperation and maintenance of plant servicesStudent transportation services



Total expenditures




Insurance Proceeds

$ 14,529

14,529

1,9842,1507,1413,215

14,490

39

6,505

$ 6,544


$ 22,197313,438478,165813,800

1,076,258

30,494349

1,107,101

(293,301)

1,011,506

$ 718,205

Adjacent Ways

$ 2,21848

2,266

135,812

135,812

(133,546)

1,073,888

$ 940,342


NON-MAJOR CAPITAL PROJECTS FUNDSYEAR ENDED JUNE 30, 2012

Page 98

Building Renewal

$ 58

58

8,774

8,774

(8,716)

8,869

$ 153

New School Facilities

$ 38

38

36,539

36,539

(36,501)

36,501

$

Totals

$ 39,040313,486478,165830,691

1,9842,1507,141

1,260,598

30,494349

1,302,716

(472,025)

2,137,269

$ 1,665,244

Page 99

Total revenues



InstructionSupport services - students and staffOperation and maintenance of plant servicesStudent transportation services



Total expenditures


Other financing sources (uses):Transfers outIssuance of school improvement bondsPremium on sale of bonds





Insurance Proceeds

Budget

$ 15,000

15,000

50,000

50,000

(35,000)

(35,000)

6,505

$ (28,495)

Actual

$ 14,529

14,529

1,984

2,1507,1413,215

14,490

39

39

6,505

$ 6,544

Variance - Positive

(Negative)

$ (471)

(471)

(1,984)

(2,150)42,859(3,215)

35,510

35,039

35,039

$ 35,039


BUDGET AND ACTUALALL CAPITAL PROJECTS FUNDS


Page 100


Budget

$ 20,000257,078415,000692,078

3,775,889

30,494349

3,806,732

(3,114,654)

(3,114,654)

905,553

$ (2,209,101)

Actual

$ 22,197313,438478,165813,800

1,076,258

30,494349

1,107,101

(293,301)

(293,301)

1,011,506

$ 718,205

Variance - Positive

(Negative)

$ 2,19756,36063,165

121,722

2,699,631

2,699,631

2,821,353

2,821,353

105,953

$ 2,927,306

Adjacent Ways

Budget

$ 7,0003,500

10,500

1,039,820

1,039,820

(1,029,320)

(1,029,320)

1,071,500

$ 42,180

Actual

$ 2,21848

2,266

135,812

135,812

(133,546)

(133,546)

1,073,888

$ 940,342

Variance - Positive

(Negative)

$ (4,782)(3,452)

(8,234)

904,008

904,008

895,774

895,774

2,388

$ 898,162

Page 101(Continued)

Total revenues






Total expenditures







Soft Capital Allocation

Budget

$ 22,0002,650

500,000524,650

168,42091,907

260,327

264,323

264,323

1,521,166

$ 1,785,489

Non-GAAP Actual

$ 8,23413

515,620523,867

200,31212,000

212,312

311,555

311,555

1,553,288

$ 1,864,843

Variance - Positive

(Negative)

$ (13,766)(2,637)15,620

(783)

(31,892)79,907

48,015

47,232

47,232

32,122

$ 79,354




Page 102

Bond Building

Budget

$

500,000

500,000

(500,000)

22,300,000

22,300,000

21,800,000

$ 21,800,000

Actual

$ 38,132

38,132

671,476

204,335875,811

(837,679)

(957,117)22,300,0001,109,277

22,452,160

21,614,481

$ 21,614,481

Variance - Positive

(Negative)

$ 38,132

38,132

(171,476)

(204,335)(375,811)

(337,679)

(957,117)

1,109,277152,160

(185,519)

$ (185,519)

Building Renewal

Budget

$

8,914

8,914

(8,914)

(8,914)

8,868

$ (46)

Actual

$ 58

58

8,774

8,774

(8,716)

(8,716)

8,869

$ 153

Variance - Positive

(Negative)

$ 58

58

140

140

198

198

1

$ 199

Page 103(Continued)

Total revenues






Total expenditures







New School Facilities

Budget

$

36,540

36,540

(36,540)

(36,540)

36,501

$ (39)

Actual

$ 38

38

36,539

36,539

(36,501)

(36,501)

36,501

$

Variance - Positive

(Negative)

$ 38

38

1

1

39

39

$ 39




Page 104

Totals

Budget

$ 64,000263,228915,000

1,242,228

168,42091,907

50,0005,361,163

30,494349

5,702,333

(4,460,105)

22,300,000

22,300,000

17,839,895

3,550,093

$ 21,389,988

Non-GAAP Actual

$ 85,406313,499993,785

1,392,690

202,29612,000

2,1507,141

1,932,074

30,494349

204,3352,390,839

(998,149)

(957,117)22,300,0001,109,277

22,452,160

21,454,011

3,690,557

$ 25,144,568

Variance - Positive

(Negative)

$ 21,40650,27178,785

150,462

(33,876)79,907(2,150)42,859

3,429,089

(204,335)3,311,494

3,461,956

(957,117)

1,109,277152,160

3,614,116

140,464

$ 3,754,580

Page 105

AGENCY FUNDS

Student Activities - to account for monies raised by students to finance student clubs and organizations but held by the District as an agent. Employee Insurance - to account for voluntary deductions temporarily held by the District as an agent.

ASSETSCash and investments

Total assets

LIABILITIESDeposits held for othersDue to student groups

Total liabilities

Student Activities

$ 357,983$ 357,983

$357,983

$ 357,983

Employee Insurance

$ 1,034,312$ 1,034,312

$ 1,034,312

$ 1,034,312

Totals

$ 1,392,295$ 1,392,295

$ 1,034,312357,983

$ 1,392,295

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES

AGENCY FUNDSJUNE 30, 2012

Page 108

Beginning EndingBalance Additions Deductions Balance

STUDENT ACTIVITIES FUND

AssetsCash and investments $ 298,873 $ 893,466 $ 834,356 $ 357,983

Total assets $ 298,873 $ 893,466 $ 834,356 $ 357,983

LiabilitiesDue to student groups $ 298,873 $ 893,466 $ 834,356 $ 357,983

Total liabilities $ 298,873 $ 893,466 $ 834,356 $ 357,983

EMPLOYEE INSURANCE FUND

AssetsCash and investments $ 254,527 $ 16,132,112 $ 15,352,327 $ 1,034,312

Total assets $ 254,527 $ 16,132,112 $ 15,352,327 $ 1,034,312

LiabilitiesDeposits held for others $ 254,527 $ 16,132,112 $ 15,352,327 $ 1,034,312

Total liabilities $ 254,527 $ 16,132,112 $ 15,352,327 $ 1,034,312

TOTAL AGENCY FUNDS

AssetsCash and investments $ 553,400 $ 17,025,578 $ 16,186,683 $ 1,392,295

Total assets $ 553,400 $ 17,025,578 $ 16,186,683 $ 1,392,295

LiabilitiesDeposits held for others $ 254,527 $ 16,132,112 $ 15,352,327 $ 1,034,312Due to student groups 298,873 893,466 834,356 357,983

Total liabilities $ 553,400 $ 17,025,578 $ 16,186,683 $ 1,392,295

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COMBINING STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES

YEAR ENDED JUNE 30, 2012ALL AGENCY FUNDS

Page 109

STATISTICAL SECTION

The statistical section presents financial statement trends as well as detailed financial and operational information not available elsewhere in the report. The statistical section is intended to enhance the reader’s understanding of the information presented in the financial statements, notes to the financial statements, and other supplementary information presented in this report. The statistical section is comprised of the five categories of statistical information presented below.

Financial Trends

These schedules contain information on financial trends to help the reader understand how the District’s financial position and financial activities have changed over time.

Revenue Capacity

These schedules contain information to help the reader assess the factors affecting the District’s ability to generate revenue.

Debt Capacity

These schedules present information to help the reader evaluate the District’s current levels of outstanding debt as well as assess the District’s ability to make debt payments and/or issue additional debt in the future.

Demographic and Economic Information These schedules present various demographic and economic indicators to help the reader understand the environment in which the District’s financial activities take place and to help make comparisons with other school districts.

Operating Information

These schedules contain information about the District’s operations and various resources to help the reader draw conclusions as to how the District’s financial information relates to the services provided by the District.

2012 2011 2010 2009 2008Net Assets:

Invested in capital assets, net of related debt 76,177,840$ 76,837,367$ 76,429,405$ 75,051,400$ 79,444,814$ Restricted 7,506,394 7,353,456 3,928,755 1,211,942 3,003,788 Unrestricted 14,470,578 16,957,135 20,929,170 10,649,311 8,031,627

Total net assets 98,154,812$ 101,147,958$ 101,287,330$ 86,912,653$ 90,480,229$

2007 2006 2005 2004 2003Net Assets:

Invested in capital assets, net of related debt 64,806,542$ 59,243,903$ 35,449,048$ 10,219,752$ 13,588,501$ Restricted 8,763,650 4,896,898 6,303,349 1,575,706 2,083,562 Unrestricted 8,430,458 11,317,880 7,739,272 8,096,089 2,112,228

Total net assets 82,000,650$ 75,458,681$ 49,491,669$ 19,891,547$ 17,784,291$

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216NET ASSETS BY COMPONENT

LAST TEN FISCAL YEARS

Fiscal Year Ended June 30

(Accrual basis of accounting)

The source of this information is the District's financial records.Source:

Page 112

2012 2011 2010 2009 2008

Instruction 29,380,652$ 28,191,253$ 28,925,776$ 34,282,159$ 31,441,751$ Support services - students and staff 6,102,355 5,666,994 5,326,399 5,179,341 4,370,544 Support services - administration 4,532,523 4,254,358 4,816,502 5,070,178 4,776,797 Operation and maintenance of plant services 7,054,160 6,205,189 6,408,036 6,997,106 6,222,407 Student transportation services 3,081,129 2,878,481 2,868,349 3,237,172 2,814,019 Operation of non-instructional services 2,634,066 2,446,619 3,295,443 3,392,852 3,020,064 Interest on long-term debt 883,443 2,263,935 2,029,562 2,417,991 2,596,675

Total expenses 53,668,328 51,906,829 53,670,067 60,576,799 55,242,257

Program RevenuesCharges for services:

Instruction 2,426,656 1,405,937 1,675,178 1,144,780 1,823,944Operation of non-instructional services 1,559,847 2,867,269 2,644,948 2,502,099 2,339,985Other activities 184,585 505,488 736,622 629,916 552,623

Operating grants and contributions 3,465,451 3,369,305 3,125,395 2,790,731 2,421,091 Capital grants and contributions 371,522 274,628 491,787 271,029 125,280

Total program revenues 8,008,061 8,422,627 8,673,930 7,338,555 7,262,923

Net (Expense)/Revenue (45,660,267)$ (43,484,202)$ (44,996,137)$ (53,238,244)$ (47,979,334)$

The source of this information is the District's financial records.The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 34 were adopted in fiscal year 2001 therefore

only six years are shown.

(Continued)

Note:

LAST TEN FISCAL YEARS(Accrual basis of accounting)


Expenses

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216EXPENSES, PROGRAM REVENUES, AND NET (EXPENSE)/REVENUE

Source:

Page 113

2007 2006 2005 2004 2003Expenses

Instruction 26,688,339$ 22,597,195$ 23,391,863$ 14,997,120$ 14,118,676$ Support services - students and staff 4,075,474 2,610,243 2,082,313 1,746,636 1,651,821 Support services - administration 4,428,170 3,647,124 3,258,207 2,593,753 3,073,348 Operation and maintenance of plant services 5,211,553 4,581,748 4,842,971 4,138,791 3,674,067 Student transportation services 2,867,027 2,156,432 1,737,713 1,247,999 1,339,579 Operation of non-instructional services 2,846,261 2,282,008 1,798,068 1,513,620 1,299,957 Interest on long-term debt 2,693,192 2,229,202 2,085,744 1,942,113 1,274,783

Total expenses 48,810,016 40,103,952 39,196,879 28,180,032 26,432,231

Program RevenuesCharges for services:

Instruction 928,808 1,590,682 879,551 196,725 486,870Operation of non-instructional services 2,427,660 2,008,752 1,511,320 1,411,178 976,141Other activities 287,328 875,774 157,108 99,960 330,622

Operating grants and contributions 2,114,847 2,091,646 2,065,947 1,416,609 1,282,430 Capital grants and contributions 460,864 2,131,630 12,596,861 619,807 1,827,108

Total program revenues 6,219,507 8,698,484 17,210,787 3,744,279 4,903,171


(Concluded)

(Accrual basis of accounting)LAST TEN FISCAL YEARS


Source: The source of this information is the District's financial records.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216EXPENSES, PROGRAM REVENUES, AND NET (EXPENSE)/REVENUE

Page 114

2012 2011 2010 2009 2008


General Revenues: Taxes:

Property taxes, levied for general purposes 16,936,332 17,295,003 24,190,146 21,267,157 14,062,771 Property taxes, levied for debt service 6,550,020 7,203,067 6,830,070 5,828,948 9,981,460Property taxes, levied for capital outlay 245,131 1,068,192 2,376,475 710,877 1,278,993

Investment income 100,039 127,219 95,115 340,054 825,676Unrestricted county aid 1,684,782 1,589,724 1,244,014Unrestricted state aid 18,190,009 15,857,917 21,979,000 21,523,632 30,310,013Unrestricted federal aid 83,247 203,708 2,655,994Special Item - Loss on disposal of assets (1,264,648)

Total general revenues and special items 42,524,912 43,344,830 59,370,814 49,670,668 56,458,913

Changes in Net Assets (3,135,355)$ (139,372)$ 14,374,677$ (3,567,576)$ 8,479,579$


Note: The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 34 were adopted in fiscal year 2001 therefore only six years are shown.

(Continued)


AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216GENERAL REVENUES AND TOTAL CHANGES IN NET ASSETS

LAST TEN FISCAL YEARS(Accrual basis of accounting)

Page 115

2007 2006 2005 2004 2003


General Revenues: Taxes:

Property taxes, levied for general purposes 13,770,330 11,724,964 12,573,991 8,797,090 7,810,855 Property taxes, levied for debt service 8,938,759 7,344,984 6,216,546 4,871,969 3,892,457Property taxes, levied for capital outlay 2,150,731 2,023,890 3,937,190 704,291 1,181,859

Investment income 940,270 575,513 291,212 283,053 224,252Unrestricted county aid 11,736 972,913 864,548 607,850 562,515Unrestricted state aid 23,320,652 34,730,216 26,398,714 11,278,756 11,302,891Unrestricted federal aid

Total general revenues 49,132,478 57,372,480 50,282,201 26,543,009 24,974,829

Changes in Net Assets 6,541,969$ 25,967,012$ 28,296,109$ 2,107,256$ 3,445,769$

The Arizona State Legislature suspended county equalization payments to school districts for fiscal years 2006-07 through 2008-09.

(Concluded)

GENERAL REVENUES AND TOTAL CHANGES IN NET ASSETSLAST TEN FISCAL YEARS


(Accrual basis of accounting)

The source of this information is the District's financial records.


Source: Note:

Page 116

2012 2011 2010 2009 2008General Fund:

Nonspendable 461,373$ 448,650$ Unassigned 6,229,271 9,425,549Reserved $ $ $Unreserved 9,477,416 (1,202,040) 163,406

Total General Fund 6,690,644$ 9,874,199$ 9,477,416$ (1,202,040)$ 163,406$

All Other Governmental Funds:NonspendableRestricted 28,842,492$ 6,527,713$ CommittedAssignedUnassignedReserved $ 25,266$ 1,803$ Unreserved, reported in:

Special revenue funds 4,084,048 3,343,452 3,501,541Capital projects funds 3,071,019 1,447,047 6,245,973Debt service fund 610,185 556,137 1,734,317

Total all other governmental funds 28,842,492$ 6,527,713$ 7,765,252$ 5,371,902$ 11,483,634$

(Continued)

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216FUND BALANCES - GOVERNMENTAL FUNDS


LAST TEN FISCAL YEARS(Modified accrual basis of accounting)

Page 117

2007 2006 2005 2004 2003General Fund:

Reserved 28,523$ 14,484$ 330,832$ -$ -$ Unreserved 1,045,789 926,986 1,400,872 383,351 237,522

Total General Fund 1,074,312$ 941,470$ 1,731,704$ 383,351$ 237,522$

All Other Governmental Funds:Reserved 15,564$ 11,356$ 9,216$ -$ -$ Unreserved, reported in:

Special revenue funds 3,025,715 3,758,830 2,425,578 1,311,585 1,153,543 Capital projects funds 9,024,921 9,096,262 4,179,110 7,479,659 11,375,850 Debt service fund 5,287,505 2,527,812 2,102,420 1,214,840 1,210,702

Total all other governmental funds 17,353,705$ 15,394,260$ 8,716,324$ 10,006,084$ 13,740,095$

Source:Note:

(Concluded)

The provisions of the Governmental Accounting Standards Board (GASB) Statement No. 54 were adopted in fiscal year 2011. The standard replaces the previous reserved and unreserved fund balance categories with the following five fund balance classifications: nonspendable, restricted, committed, assigned, and unassigned fund balance.


AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216FUND BALANCES - GOVERNMENTAL FUNDS


Page 118

2012 2011 2010 2009 2008Federal sources:

Federal grants 1,764,327$ 1,793,810$ 2,313,840$ 1,733,717$ 1,349,070$ State Fiscal Stabilization (ARRA) 203,708 2,655,994 Education Jobs 657,299 660,909 National School Lunch Program 1,044,595 925,823 830,973 606,031 441,327 Total federal sources 3,466,221 3,584,250 5,800,807 2,339,748 1,790,397

State sources:State equalization assistance 15,978,812 13,832,275 22,217,724 16,637,488 18,880,126 State grants 257,862 260,291 268,143 422,609 309,739 School Facilities Board 119,834 472,295 19,172 8,141,629 Other revenues 2,211,197 2,090,016 1,844,176 2,247,786 3,240,983 Total state sources 18,447,871 16,302,416 24,802,338 19,327,055 30,572,477

Local sources:Property taxes 23,752,871 26,312,737 31,506,536 26,524,892 24,995,098 County aid 1,684,782 1,589,724 1,244,014 Food service sales 1,558,619 1,528,940 1,576,401 1,580,854 1,676,022 Investment income 100,039 117,816 80,126 267,830 825,676 Other revenues 2,743,029 3,262,257 3,683,518 3,054,574 3,453,697 Total local sources 29,839,340 32,811,474 38,090,595 31,428,150 30,950,493 Total revenues 51,753,432$ 52,698,140$ 68,693,740$ 53,094,953$ 63,313,367$

(Continued)

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216GOVERNMENTAL FUNDS REVENUES



(Modified accrual basis of accounting)

Page 119

2007 2006 2005 2004 2003Federal sources:

Federal grants 1,368,297$ 1,478,863$ 1,314,887$ 1,169,930$ 1,083,889$ State Fiscal Stabilization (ARRA)Education JobsNational School Lunch Program 367,392 325,031 304,497 236,091 189,748 Total federal sources 1,735,689 1,803,894 1,619,384 1,406,021 1,273,637

State sources:State equalization assistance 17,164,061 13,051,079 11,707,674 10,241,546 8,329,333 State grants 582,483 363,792 121,917 198,172 150,109 School Facilities Board 3,745,414 19,558,656 13,805,623 6,570 2,132,878 Other revenues 2,411,177 2,120,481 1,602,407 928,842 832,312 Total state sources 23,903,135 35,094,008 27,237,621 11,375,130 11,444,632

Local sources:Property taxes 25,002,810 21,007,603 22,406,885 14,375,671 12,693,352 County aid 11,736 972,913 864,548 607,850 562,515 Food service sales 1,649,838 1,374,210 1,044,981 796,253 671,196 Investment income 940,270 575,513 291,212 283,053 224,252 Other revenues 2,251,497 5,100,998 1,502,998 1,366,659 2,831,089 Total local sources 29,856,151 29,031,237 26,110,624 17,429,486 16,982,404 Total revenues 55,494,975$ 65,929,139$ 54,967,629$ 30,210,637$ 29,700,673$

The Arizona State Legislature suspended county equalization payments to school districts for fiscal years 2006-07 through 2008-09.

(Concluded)

Note:Source: The source of this information is the District's financial records.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216GOVERNMENTAL FUNDS REVENUES


Page 120

2012 2011 2010 2009 2008


Instruction 24,075,187$ 23,465,174$ 23,673,240$ 23,582,114$ 23,224,470$ Support services - students and staff 5,926,053 5,438,844 5,152,467 5,019,277 4,355,391 Support services - administration 4,194,361 4,056,241 4,847,942 4,899,926 4,604,121 Operation and maintenance of plant services 6,858,614 6,562,295 6,305,268 6,724,922 5,973,489 Student transportation services 2,592,053 2,461,064 2,394,182 2,568,662 2,366,835 Operation of non-instructional services 2,594,109 2,415,232 3,274,763 3,353,307 2,976,227

Capital outlay 2,573,496 2,116,849 4,754,753 7,189,873 19,709,821 Debt service -

Judgments against the district 145,595 Principal retirement 5,405,494 5,233,582 5,098,325 4,833,606 11,802,122 Interest, premium and fiscal charges 1,762,715 2,238,265 2,003,892 2,392,321 2,555,005 Bond issuance costs 204,335 204,394 16,000

Total expenditures 56,186,417$ 53,987,546$ 57,709,226$ 60,709,603$ 77,583,481$

Expenditures for capitalized assets 882,096$ 1,028,459$ 3,477,139$ 3,691,973$ 16,046,780$

Debt service as a percentage ofnoncapital expenditures 13% 14% 13% 13% 23%

Source: The source of this information is the District's financial records.Notes:

(Continued)

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO



Page 121

2007 2006 2005 2004 2003


Instruction 20,165,505$ 17,531,391$ 13,855,221$ 11,043,206$ 10,337,156$ Support services - students and staff 3,859,004 2,631,774 2,052,117 1,681,569 1,494,008 Support services - administration 4,118,620 3,566,438 3,175,615 2,488,709 2,293,833 Operation and maintenance of plant services 5,025,260 4,197,030 5,109,810 4,057,121 3,510,485 Student transportation services 1,956,522 1,827,106 1,369,005 1,013,031 793,208 Operation of non-instructional services 2,801,694 2,264,869 1,792,268 1,482,759 1,284,052

Capital outlay 17,036,140 37,977,593 23,493,608 16,335,981 6,194,893 Debt service -

Principal retirement 4,890,668 5,330,267 3,486,405 3,245,000 333,835 Interest, premium and fiscal charges 2,686,480 2,303,459 2,060,074 1,916,443 1,464,812 Payment to refunded bond escrow agent 1,286,555 Bond issuance costs 100,212 168,966 150,881

Total expenditures 62,640,105$ 77,798,893$ 56,394,123$ 43,263,819$ 29,143,718$

Expenditures for capitalized assets 11,423,017$ 34,676,231$ 27,641,587$ 13,178,269$ 2,046,323$

Debt service as a percentage ofnoncapital expenditures 15% 18% 19% 17% 12%

Source:

(Concluded)

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO




Page 122

2012 2011 2010 2009 2008

Excess (deficiency) of revenues over expenditures (4,432,985)$ (1,289,406)$ 10,984,514$ (7,614,650)$ (14,270,114)$

Other financing sources (uses):Refunding bonds issued 6,695,000 Issuance of school improvement bonds 22,300,000 1,620,000 7,230,000 Premium on sale of bonds 1,109,277 131,043 Capital lease agreements 114,009 301,421 Transfers in 1,232,639 419,671 253,285 267,681 2,005,236 Transfers out (1,232,639) (419,671) (253,285) (267,681) (2,005,236) Payment to refunded bond escrow agent (6,332,485)

Total other financing sources (uses) 23,409,277 - 2,113,558 114,009 7,531,421

Changes in fund balances 18,976,292$ (1,289,406)$ 13,098,072$ (7,500,641)$ (6,738,693)$

2007 2006 2005 2004 2003

Excess (deficiency) of revenues over expenditures (7,145,130)$ (11,869,754)$ (1,426,494)$ (13,053,182)$ 556,955$

Other financing sources (uses):Issuance of school improvement bonds 9,100,000 17,700,000 9,465,000 12,000,000 Refunding bonds issued 9,410,000 Premium on sale of bonds 119,170 268,893 452,479 Capital lease agreements 1,145,039 Transfers in 334,158 318,212 382,913 852,555 678,863 Transfers out (334,158) (318,212) (382,913) (852,555) (678,863) Payment to refunded bond escrow agent (9,711,598)

Total other financing sources (uses) 9,219,170 17,968,893 1,145,039 9,465,000 12,150,881

Changes in fund balances 2,074,040$ 6,099,139$ (281,455)$ (3,588,182)$ 12,707,836$


AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216OTHER FINANCING SOURCES AND USES AND NET CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS



(Modified accrual basis of accounting)

Page 123

FiscalYear Less: Total Taxable Total Estimated

Ended Residential Commercial Personal Tax Exempt Assessed Direct Actual June 30 Property Property Property Real Property Valuation Rate Value

2012 579,121,931$ 600,718,200$ 76,814,550$ 231,659,966$ 1,024,994,715$ 2.68 9,569,990,331$ 10.71 %2011 675,835,125 761,112,911 82,073,922 236,763,683 1,282,258,275 2.45 11,356,857,945 11.292010 837,686,870 844,419,580 80,618,550 222,427,522 1,540,297,478 2.05 13,391,462,396 11.502009 1,639,480,690 2.40 14,233,400,622 11.52 2008 1,286,732,110 2.63 11,114,311,024 11.58 2007 845,611,657 3.59 7,034,462,249 12.02 2006 684,341,565 3.60 5,753,786,776 11.89 2005 571,063,088 4.75 4,762,416,078 11.99 2004 449,585,023 3.79 3,807,527,067 11.812003 366,236,211 4.22 2,999,366,741 12.21

Source:Note: Total taxable assessed valuation is displayed by major component beginning with fiscal year ended June 30, 2010.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY


Ratio of

The source of this information is the State and County Abstract of the Assessment Roll, Arizona Department of Revenue.

Net Assessed to EstimatedActual Value

Real Property

Page 124

Fiscal Year Community Flood Water City City City Elementary

Ended State College Control Conservation of of of School June 30 Equalization County District District District Avondale Goodyear Glendale Districts Primary Secondary Total

2012 0.43 1.24 1.21 0.18 0.10 1.33 1.60 1.60 4.71 1.69 0.99 2.68 2011 0.36 1.05 0.97 0.15 0.10 1.11 1.42 1.60 3.26 1.62 0.83 2.45 2010 0.33 0.99 0.88 0.14 0.10 1.11 1.60 1.60 3.31 1.84 0.21 2.05 2009 1.03 0.94 0.14 0.10 1.11 1.60 1.60 3.35 1.88 0.52 2.40 2008 1.10 0.98 0.15 0.10 1.11 1.60 1.62 3.80 1.62 1.01 2.63 2007 1.18 1.06 0.20 0.12 1.17 1.59 1.72 4.27 2.24 1.35 3.59 2006 1.20 1.03 0.21 0.12 1.17 1.60 1.72 3.80 2.24 1.36 3.60 2005 1.21 1.04 0.21 0.12 1.17 1.97 1.72 4.11 3.38 1.37 4.75 2004 1.28 1.08 0.21 0.12 1.16 2.04 1.72 4.27 2.42 1.37 3.79 2003 1.29 1.11 0.21 0.13 1.27 2.04 1.72 4.27 2.83 1.39 4.22

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216DIRECT AND OVERLAPPING PROPERTY TAX RATES


Source:

District Direct Rates

The source of this information is the Property Tax Rates and Assessed Values, Arizona Tax Research Foundation.

Overlapping Rates

Page 125

Secondary Assessed

Valuation

Secondary Assessed

Valuation

Arizona Public Service 27,019,038$ 2.11 % 12,070,492$ 4.06 %VHS of South Phoenix Inc. 10,274,957 0.80Macy's Retail Holdings Inc. 9,129,596 0.71DH Goodyear LLC 7,883,791 0.61Wigwam (Inn inc.) Country Development Co. 6,800,000 0.53Southwest Gas Corp 6,450,200 0.50 3,236,107 1.09 The Market at Estrella Falls LLC 5,985,139 0.47Mirabella Avondale Apartments LLC 5,850,000 0.46First American Title Ins. Co. 5,417,193 0.42 2,523,075 0.85 Cardinal Capital Co. 5,306,645 0.41Suncor Development Company 17,637,177 5.94 Kabuto Arizona Properties LLC 8,238,963 2.77 Rubbermaid, Inc. 7,155,908 2.41 Qwest Corporation 4,821,971 1.62 McLane Company 4,093,122 1.38 Loral Corporation 3,680,683 1.24 Snyders of Hanover Snacks Inc. 3,652,242 1.23

Total 90,116,559$ 7.02 % 67,109,740$ 22.59 %

Source: The source of this information is the Maricopa County Assessor's records.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216PRINCIPAL PROPERTY TAXPAYERS

CURRENT FISCAL YEAR AND FISCAL YEAR NINE YEARS AGO

Percentage of District's Net

Assessed Valuation

Percentage of District's Net

Assessed Valuation

2003

Taxpayer

2012

Page 126

FiscalYear Taxes Levied Collections in

Ended for the Subsequent June 30 Fiscal Year Amount Fiscal Years Amount

2012 27,267,818$ 25,763,407$ 94.48 % 25,763,407$ 94.48 %2011 30,174,870 28,545,359 94.60 1,603,594 30,148,953 99.912010 37,478,146 33,459,500 89.28 2,385,526 35,845,026 95.642009 31,298,470 28,623,388 91.45 2,194,535 30,817,923 98.462008 28,685,823 27,485,736 95.82 1,196,838 28,682,574 99.992007 28,291,358 27,323,500 96.58 965,035 28,288,535 99.992006 23,519,260 22,338,869 94.98 1,142,423 23,481,292 99.842005 25,315,030 24,338,589 96.14 950,524 25,289,113 99.902004 16,303,767 15,601,635 95.69 699,696 16,301,331 99.992003 14,504,324 13,908,742 95.89 587,040 14,495,782 99.94

Source:Notes: 1)

2)

Fiscal Year of the LevyCollected within the

of the Current Fiscal Year

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216PROPERTY TAX LEVIES AND COLLECTIONS


Collected to the End

Unsecured personal property taxes are not included in this schedule because the dates of the monthly rollsvary each year. On the average, 90% of unsecured property taxes are collected within 90 days after thedue date.

Amounts collected are on a cash basis.The source of this information is the Maricopa County Treasurer's records.

of LevyPercentage

of LevyPercentage

Page 127

Fiscal Less:Year General Amounts Percentage of Percentage of Percentage of

Ended Obligation Restricted for Estimated Per Capital Estimated Per Personal June 30 Bonds Principal Total Actual Value Capita Leases Total Actual Value Capita Income

2012 65,595,000$ 1,387,395$ 64,207,605 0.67 % 425 64,207,605 0.67 % 1,180 0.45 %2011 43,295,000 766,945 42,528,055 0.37 387 30,494 42,558,549 0.37 569 0.292010 52,485,000 4,075,000 48,410,000 0.36 303 149,076 48,559,076 0.36 919 0.352009 56,120,000 4,645,000 51,475,000 0.36 322 262,401 51,737,401 0.36 674 0.422008 60,555,000 4,435,000 56,120,000 0.50 468 336,998 56,456,998 0.51 731 0.472007 64,790,000 4,235,000 60,555,000 0.86 757 172,699 60,727,699 0.86 1,046 0.552006 60,975,000 5,105,000 55,870,000 0.97 698 828,367 56,698,367 0.99 1,471 0.552005 46,490,000 3,395,000 43,095,000 0.90 813 1,053,634 44,148,634 0.93 1,133 0.462004 49,735,000 3,245,000 46,490,000 1.22 969 N/A 46,490,000 1.22 1,816 0.502003 40,580,000 310,000 40,270,000 1.34 1,151 N/A 40,270,000 1.34 1,684 0.45

Source:Note: N/A indicates that the information is not available.


General Obligation Bonds

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216OUTSTANDING DEBT BY TYPE


Total Outstanding Debt

Page 128

Estimated EstimatedPercentage Amount

Debt Applicable to Applicable toOutstanding School District School District

Maricopa County Community College District 671,250,000$ 2.64 % 17,721,000$ Community Facilities General District No. 1 of the City of Goodyear 11,595,000 99.64 11,553,258 Community Facilities Utility District No. 1 of the City of Goodyear 48,015,000 100.00 48,015,000 Palm Valley Community Facilities District 8,015,000 100.00 8,015,000 Cortina Community Facilities District 2,330,000 100.00 2,330,000 Centerra Community Facilities District 3,345,000 99.90 3,341,655 Cottonflower Community Facilities District 2,570,000 99.92 2,567,944 The Village at Litchfield Park Community Facilities District 5,695,000 100.00 5,695,000 Wildflower Ranch Community Facilities District No. 1 935,000 100.00 935,000 Wildflower Ranch Community Facilities District No. 2 1,125,000 100.00 1,125,000 City of Avondale 34,385,000 36.20 12,447,370 City of Goodyear 122,480,000 85.11 104,242,728 Avondale Elementary School District No. 44 30,740,000 100.00 30,740,000 Litchfield Elementary School District No. 79 38,250,000 100.00 38,250,000

Subtotal, Overlapping Debt 286,978,955

Direct:Agua Fria Union High School District No. 216 64,207,605

Total Direct and Overlapping Debt 351,186,560$

Source:

Notes: 1)

2)

Outstanding debt as of June 30, 2011 is presented for the overlapping governments as this is the most recent available information.

The source of this information is the District's records and the State and County Abstract of the Assessment Roll, ArizonaDepartment of Revenue and the applicable governmental unit.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT

JUNE 30, 2012

Governmental Unit

Estimated percentage of debt outstanding applicable to the District is calculated based on the District's secondaryassessed valuation as a percentage of the secondary assessed valuation of the overlapping jurisdiction.

Page 129

Class B Bond Legal Debt Margin Calculation for Fiscal Year 2012: Total Legal Debt Margin Calculation for Fiscal Year 2012:Secondary assessed valuation 1,024,994,715$ Secondary assessed valuation 1,024,994,715$ Debt limit (5% of assessed value) 51,249,736 Debt limit (15% of assessed value) 153,749,207 Debt applicable to limit 54,045,000 Debt applicable to limit 65,595,000 Cash on deposit with County Treasurer Legal debt margin 88,154,207$

in Debt Service Fund at year end 7,595,940 Legal debt margin 4,800,676$

2012 2011 2010 2009 2008

Total Debt limit 153,749,207$ 192,338,741$ 231,044,622$ 245,922,104$ 193,009,817$

Total net debt applicable to limit 65,595,000 42,528,055 48,410,000 51,475,000 56,120,000

Legal debt margin 88,154,207$ 149,810,686$ 182,634,622$ 194,447,104$ 136,889,817$

Total net debt applicable to the limit as a percentage of debt limit 43% 22% 21% 21% 29%

2007 2006 2005 2004 2003

Debt limit 126,841,749$ 102,651,235$ 85,659,463$ 67,437,753$ 54,935,432$

Total net debt applicable to limit 60,555,000 55,870,000 43,095,000 46,490,000 40,270,000

Legal debt margin 66,286,749$ 46,781,235$ 42,564,463$ 20,947,753$ 14,665,432$

Total net debt applicable to the limit as a percentage of debt limit 48% 54% 50% 69% 73%

Source:Notes: 1)

2) Bond premium is not subject to the statutory debt limit.

The District’s general obligation bonds are subject to two limits; the Constitutional debt limit (total debt limit) on all general obligationbonds and the statutory debt limit on Class B bonds. The calculations of the debt margins are presented in detail for the current fiscal yearonly.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216LEGAL DEBT MARGIN INFORMATION




Page 130

Personal EstimatedIncome Per Capita District

Year Population (thousands) Income Population

2011 3,843,370 142,864,275$ 37,352$ 8.4 % 110,000 2010 3,817,117 142,091,618 35,319 151,000 2009 4,023,331 147,122,078 37,168 8.3 110,000 2008 3,987,942 139,665,253 36,135 4.9 160,000 2007 3,907,492 123,423,154 35,046 3.2 160,000 2006 3,792,675 120,716,738 33,178 3.6 120,000 2005 3,648,545 111,103,576 31,757 4.1 80,000 2004 3,537,630 102,277,852 30,160 4.6 80,000 2003 3,406,170 96,998,974 29,020 5.0 53,000 2002 3,296,250 93,544,549 29,117 5.3 48,000

Sources:

Unemployment

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216COUNTY-WIDE DEMOGRAPHIC AND ECONOMIC STATISTICS

LAST TEN CALENDAR YEARS

Rate

The source of the "Personal Income" and "Per Capita" information is the Bureau of Economic Analysis.The source of the "Population" and "Unemployment Rate" information from 2002 through 2010 is the Universityof Arizona, Eller College of Management, Economic and Business Research Center. For the year 2011 the sourceof the information is the Arizona Office of Employment and Population Statistics.

8.5

Page 131

Percentage Percentageof Total of Total

Employees Employment Employees EmploymentAvondale Elementary School District No. 44 800 2.01 % 452 2.41 %Wal-Mart Stores Inc. 560 1.41 Estrella Mountain Community College 550 1.38 90 0.48 Agua Fria Union High School District No. 216 400 1.00 300 1.60 City of Avondale 355 0.89 295 1.57 Sunbridge Estrella Care & Rehabilitation 200 0.50 150 0.80 Avondale Automotive Inc. 175 0.44 Costco 150 0.38 Universal Technical Institute 150 0.38 The Home Depot 140 0.35 Earnhardt Auto Center 140 0.35 Avondale Nissan 90 0.23 Tolleson Union High School District No. 214

(Avondale portion only) 50 0.13 Gateway Chevrolet 50 0.13 Beam Corporation 300 1.60 Arizona Machinery Company 150 0.80 Phoenix International Raceway 50 0.27

Total 3,810 9.58 % 1,787 9.53 %

Total employment 39,847 18,774

Source: The Phoenix Business Journal Book of Lists 2010.Note: The principal employers were not available for the District alone, therefore, the principal employers for the City

of Avondale are presented.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216PRINCIPAL EMPLOYERS

CURRENT FISCAL YEAR AND FISCAL YEAR NINE YEARS AGO

Employer

2012 2003

Page 132

2012 2011 2010 2009 2008

SupervisorySuperintendent 1 1 Assistant superintendents 1 1 Consultants/supervisors of instruction 6 4 24 26 26 Principals 4 4 4 4 4 Assistant principals 12 12 12 8 7

Total supervisory 24 22 40 38 37 Instruction

Teachers 323 322 300 308 306 Other professionals (instructional) 13 10 26 27 26 Aides 68 63 55 62 52

Total instruction 404 395 381 397 384 Student Services

Nurses 5 5 Counselors/Advisors 21 27 Librarians 4 4 3 3 4 Technicians 15 15 15 14 14

Total student services 45 51 18 17 18 Support and Administration

Clerical workers 82 72 Maintenance workers 31 34 Bus Drivers 47 39 Service workers 65 39 92 112 107 Unskilled laborers 31 20 151 195 185

Total support and administration 256 204 243 307 292

Total 729 672 682 759 731

(Continued)

Full-time Equivalent Employees as of June 30


AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE

Page 133

2007 2006 2005 2004 2003

SupervisorySuperintendentAssistant superintendentsConsultants/supervisors of instruction 26 17 10 18 16 Principals 4 3 3 3 3 Assistant principals 7 5 5 4 4

Total supervisory 37 25 18 25 23 Instruction

Teachers 262 208 188 161 141 Other professionals (instructional) 23 17 15 11 9 Aides 53 38 37 41 38

Total instruction 338 263 240 213 188 Student Services

NursesCounselors/AdvisorsLibrarians 3 3 2 3 2 Technicians 13 8 5 5 4

Total student services 16 11 7 8 6 Support and Administration

Clerical workersMaintenance workersBus DriversService workers 99 76 65 61 60 Unskilled laborers 142 101 91 72 64

Total support and administration 241 177 156 133 124

Total 632 476 421 379 341

Source:

(Concluded)

The source of this information is District personnel records.

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE


Page 134

FiscalYear Average Cost Cost Pupil-

Ended Daily Operating per Percentage per Percentage Teaching TeacherJune 30 Membership Expenditures Pupil Change Expenses Pupil Change Staff Ratio

2012 6,594 46,240,377$ 7,012 3.39 % 53,668,328 8,139$ 2.64 % 323 20.4 42.0 %2011 6,546 44,398,850 6,783 (13.60) 51,906,829 7,930 (14.09) 322 20.3 39.7 2010 5,815 45,647,862 7,850 3.88 53,670,067 9,230 (6.95) 300 19.4 37.0 2009 6,107 46,148,208 7,557 0.67 60,576,799 9,919 4.05 308 19.8 30.7 2008 5,795 43,500,533 7,507 6.07 55,242,257 9,533 4.66 306 18.9 29.0 2007 5,359 37,926,605 7,077 5.10 48,810,016 9,108 7.99 262 20.5 29.0 2006 4,755 32,018,608 6,734 1.67 40,103,952 8,434 (11.13) 208 22.9 27.3 2005 4,130 27,354,036 6,623 9.82 39,196,879 9,491 22 188 22.0 23.8 2004 3,609 21,766,395 6,031 (5.84) 28,180,032 7,808 (9.07) 161 22.4 22.3 2003 3,078 19,714,745 6,405 2.72 26,432,231 8,587 5.95 141 21.8 21.9

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO. 216OPERATING STATISTICSLAST TEN FISCAL YEARS

Percentage of

StudentsFree/Reduced

The source of this information is the District's financial records.Source:Note: Operating expenditures are total expenditures less debt service and capital outlay.

Page 135

2012 2011 2010 2009 2008 2007 2006 2005 2004 2003

SchoolsHigh

Buildings 4 4 4 4 4 4 3 3 3 3Square feet 905,508 905,508 905,508 905,508 905,580 878,797 656,599 565,599 595,602 565,739Capacity 7,000 7,000 7,000 7,000 7,000 6,400 6,400 6,400 6,400 6,400Enrollment 6,594 5,815 5,815 6,162 5,850 5,395 4,746 4,180 3,627 3,099

AdministrativeBuildings 5 5 5 4 4 4 4 4 4 3Square feet 61,941 61,941 61,941 27,097 27,097 27,097 27,097 27,097 27,097 20,830

TransportationGarages 1 1 1 1 1 1 1 1 1 1Buses 52 52

AthleticsFootball fields 4 4 4 4 4 4 3 2 2 2Soccer fields 4 4 4 4 4 4 3 3 2 2Running tracks 4 4 4 4 4 4 3 3 2 2Baseball/softball 4 4 4 4 4 4 3 3 2 2Swimming pools 1 1 1 1 1 1 1 1 0 0

Source: The source of this information is the District's facilities records.

LAST TEN FISCAL YEARSCAPITAL ASSETS INFORMATION



Page 136

AGUA FRIA UNION HIGH SCHOOL DISTRICT NO....

Documents

Transcript of AGUA FRIA UNION HIGH SCHOOL DISTRICT NO....