Comprehensive Annual Financial Report 2012 - Kettering City ...
Comprehensive Annual Financial Report 2012 - Kettering City ...
Comprehensive Annual Financial Report 2012 - Kettering City ...
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KETTERING CITY SCHOOL DISTRICT<br />
Notes to the Basic <strong>Financial</strong> Statements<br />
For the Fiscal Year Ended June 30, <strong>2012</strong><br />
NOTE 4 – DEFICIT FUND EQUITIES<br />
The following is a summary of deficit fund equities at June 30, <strong>2012</strong>:<br />
Deficit Fund<br />
Fund<br />
Equity<br />
Special Revenue Funds:<br />
Public School Preschool Fund $250<br />
Alternative Fund 5,940<br />
Adult Basic Education Fund 30,638<br />
Race to the Top Fund 25,757<br />
EESA Title VI-B Fund 286,819<br />
Technology Title II-D Fund 6,614<br />
Even Start Program Fund 24,642<br />
Title I Fund 150,330<br />
Preschool Grant Fund 3,886<br />
The deficits arise from the recognition of expenditures on the modified accrual basis which are greater<br />
than expenditures recognized on the budgetary basis. Other deficits also existed under the budgetary/cash<br />
basis of accounting. The General Fund often provides operating transfers when cash is required, not<br />
when accruals occur.<br />
This space intentionally left blank.<br />
DRAFT - 40 - 12/18/<strong>2012</strong>
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