2012 CAFR - Pickerington Local School District

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PICKERINGTON LOCAL SCHOOL DISTRICT FAIRFIELD COUNTY, OHIO NOTES TO THE BASIC FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2012 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) The following organizations are described due to their relationship to the District: JOINTLY GOVERNED ORGANIZATIONS Metropolitan Education Council (MEC) MEC is a not-for-profit educational council whose primary purpose and objective is to contribute to the educational services available to school districts in Franklin County and surrounding areas by cooperative action membership. The governing board consists of a representative from each of the Franklin County districts. Districts outside of Franklin County are associate members and each county selects a single district to represent them on the Governing Board. MEC is its own fiscal agent. Eastland-Fairfield Career and Technical Schools (Career Center) The Career Center is a jointly governed organization. The District’s Board of Education appoints one member of the seven-member Board of Education of the Career Center. However, the financial statements of the Career Center are not included within the District’s reporting entity, as the District cannot impose its will and there is no financial benefit, financial burden relationship or related-party transactions between the District and the Career Center. PUBLIC ENTITY RISK POOLS Ohio SchoolComp Workers’ Compensation Group Retrospective Rating Plan The district participates in a group retrospective rating plan for workers’ compensation as established under Section 4123-17-73 of the Ohio Administrative Code. The Ohio SchoolComp Group Retrospective Rating Plan was established through the Ohio School Boards Association (OSBA) and the Ohio Association of School Business Officials (OASBO). The Executive Directors of the OSBA and OASBO, or their designees, serve as coordinators of the group retrospective rating program. Each year, the participating school districts pay an enrollment fee to the program to cover the costs of the administering the program. Ohio School Plan The School District belongs to the Ohio School Plan (the "Plan"), a non-assessable, unincorporated non-profit association providing a formalized, jointly administered self-insurance risk management program and other administrative services to Ohio’s public educational entities (“Members”). Pursuant to Section 2744.081 of the Ohio Revised Code, the Plan is a separate legal entity. The Plan provides property, liability, automobile, violence and other coverages, modified for each Member’s needs. The Plan pays judgments, settlements and other expenses resulting from covered claims that exceed the Member's deductible. The complete audited financial statements for the Ohio School Plan are available at the Plan’s website, www.ohioschoolplan.org. B. Fund Accounting The District uses funds to maintain its financial records during the year. A fund is defined as a fiscal and accounting entity with a self balancing set of accounts. There are three categories of funds: governmental, proprietary and fiduciary. F 24
PICKERINGTON LOCAL SCHOOL DISTRICT FAIRFIELD COUNTY, OHIO NOTES TO THE BASIC FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2012 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Continued) GOVERNMENTAL FUNDS Governmental funds are those through which most governmental functions typically are financed. Governmental fund reporting focuses on the sources, uses and balances of current financial resources. Expendable assets are assigned to the various governmental funds according to the purposes for which they may or must be used. Current liabilities are assigned to the fund from which they will be paid. The difference between governmental fund assets and liabilities is reported as fund balance. The following are the District’s major governmental funds: General fund -The general fund is used to account for and report all financial resources not accounted for and reported in another fund. The general fund balance is available for any purpose provided it is expended or transferred according to the general laws of Ohio. District debt service fund - The District debt service fund is used to account all debt activity except the debt associated with the library which is accounted for in another nonmajor debt service fund. Classroom facilities fund - The classroom facilities capital projects fund is used to account for financial resources and expenditures related to the school facilities construction project. Other governmental funds of the District are used to account for (a) financial resources that are restricted, committed, or assigned to expenditures for capital outlays including the acquisition or construction of capital facilities and other capital assets, (b) specific revenue sources that are restricted or committed to an expenditure for specified purposes other than debt service or capital projects and (c) financial resources that are restricted, committed, or assigned to expenditure for principal and interest. PROPRIETARY FUNDS Proprietary funds are used to account for the District’s ongoing activities which are similar to those often found in the private sector. The District has no proprietary funds. FIDUCIARY FUNDS Fiduciary fund reporting focuses on net assets and changes in net assets. The fiduciary fund category is split into four classifications: pension trust funds, investment trust funds, private-purpose trust funds and agency funds. Trust funds are used to account for assets held by the District under a trust agreement for individuals, private organizations, or other governments and are therefore not available to support the District’s own programs. The District has no trust funds. Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. The District’s agency funds accounts for student activities and amounts held for individuals and organizations. C. Basis of Presentation and Measurement Focus Government-wide Financial Statements - The statement of net assets and the statement of activities display information about the District as a whole. These statements include the financial activities of the primary government, except for fiduciary funds. F 25
Page 1 and 2: ThePickeringtonLocalSchoolDistrict
Page 3 and 4: COMPREHENSIVE ANNUAL COMPREHENSIVE
Page 5 and 6: INTRODUCTORY SECTION
Page 7 and 8: PICKERINGTON LOCAL SCHOOL DISTRICT
Page 9 and 10: COMBINING STATEMENTS AND INDIVIDUAL
Page 13 and 14: Instructional Organization: The Dis
Page 15 and 16: Summer School Opportunities: The Di
Page 17 and 18: AWARDS AND ACKNOWLEDGEMENTS The Gov
Page 19 and 20: Pickerington Local School District
Page 21 and 22: FINANCIAL SECTION
Page 23 and 24: INDEPENDENT AUDITORS’ REPORT Boar
Page 45: PICKERINGTON LOCAL SCHOOL DISTRICT
Page 81 and 82: COMBINING STATEMENTS AND INDIVIDUAL
Page 83 and 84: PICKERINGTON LOCAL SCHOOLS FAIRFIEL
Page 89 and 90: PICKERINGTON LOCAL SCHOOLS COMBININ
Page 91 and 92: Summer School Alternative Education
Page 93 and 94: Miscellaneous Federal Grants Total
Page 95 and 96: Data Summer School Alternative Educ
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Total Drug Free Nonmajor School Mis
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PICKERINGTON LOCAL SCHOOL DISTRICT
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PICKERINGTON LOCAL SCHOOLS FAIRFIEL
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STATISTICAL SECTION
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2008 2007 2006 2005 2004 2003 $ 7,8
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2008 2007 2006 2005 2004 2003 $ 47,
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2008 2007 2006 2005 2004 2003 $ 801
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2008 2007 2006 2005 2004 2003 $ 27,
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2008 2007 2006 2005 2004 2003 $ - $
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2008 2007 2006 2005 2004 2003 $ 41,
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2008 2007 2006 2005 2004 2003 $ - $
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Total Total Estimated Direct Assess
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Madison Violet School Township - Ci
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2007 2006 2005 2004 2003 $ 7,645,73
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2006 2005 2004 2003 92,544 92,544 9
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2012 CAFR - Pickerington Local School District

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