RIO GRANDE CITY CISD ANNUAL FINANCIAL REPORT ... - rgccisd

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RIO GRANDE CITY CISDRECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THESTATEMENT OF NET ASSETSAUGUST 31, 2012EXHIBIT C-2Total Fund Balances - Governmental Funds1 The District uses internal service funds to charge the costs of certain activities, such asself-insurance and printing, to appropriate functions in other funds. The assets andliabilities of the internal service funds are included in governmental activities in thestatement of net assets. The net effect of this consolidation is to increase(decrease)net assets.2 Capital assets used in governmental activities are not financial resources and thereforeare not reported in governmental funds. At the beginning of the year, the cost of theseassets was $201,041,711 and the accumulated depreciation was $46,922,901. Inaddition, long-term liabilities, including bonds payable, are not due and payable in thecurrent period, and, therefore are not reported as liabilities in the funds. The net effectof including the beginning balances for capital assets (net of depreciation) and longtermdebt in the governmental activities is to increase (decrease) net assets.3 Current year capital outlays and long-term debt principal payments are expenditures inthe fund financial statements,but they should be shown as increases in capital assetsand reductions in long-term debt in the government-wide financial statements. The neteffect of including the 2012 capital outlays and debt principal payments is to increase(decrease) net assets.4 The 2012 depreciation expense increases accumulated depreciation. The net effect ofthe current year's depreciation is to decrease net assets.$70,357,7412,194,04618,588,7158,031,945(5,510,575)5 Various other reclassifications and eliminations are necessary to convert from themodified accrual basis of accounting to accrual basis of accounting. These includerecognizing deferred revenue as revenue, eliminating interfund transactions,reclassifying the proceeds of bond sales as an increase in bonds payable, andrecognizing the liabilities associated with maturing long-term debt and interest. The neteffect of these reclassifications and recognitions is to increase (decrease) net assets.19 Net Assets of Governmental Activities$8,998,080102,659,952The notes to the financial statements are an integral part of this statement.14
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Page 8 and 9: Our audit was conducted for the pur
Page 10 and 11: Reporting the District as a WholeTh
Page 12 and 13: Table IRIO GRANDE CITY CONSOLIDATED
Page 14 and 15: CAPITAL ASSET AND DEBT ADMINISTRATI
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Page 18 and 19: RIO GRANDE CITY CISDBALANCE SHEETGO
Page 22 and 23: DataControlCodesRIO GRANDE CITY CIS
Page 24 and 25: EXHIBIT C-4RIO GRANDE CITY CISDRECO
Page 26 and 27: RIO GRANDE CITY CISDSTATEMENT OF NE
Page 28 and 29: RIO GRANDE CITY CISDSTATEMENT OF CA
Page 30 and 31: RIO GRANDE CITY CISDSTATEMENT OF CH
Page 32 and 33: Interfund activities between govern
Page 34 and 35: E. OTHER ACCOUNTING POLICIES1. For
Page 36 and 37: commitments, assignments generally
Page 38 and 39: 1. Prior to August 2012, the Distri
Page 40 and 41: C. DELINQUENT TAXES RECEIVABLEDelin
Page 42 and 43: 2006 CABsPer $5K MaturityTotal CABA
Page 44 and 45: The District entered into a lease a
Page 46 and 47: J. CHANGES IN LONG-TERM LIABILITIES
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Page 52 and 53: DataControlCodes111012401260RIO GRA
Page 58 and 59: RIO GRANDE CITY CISDCOMBINING STATE
Page 64 and 65: RIO GRANDE CITY CISDSCHEDULE OF DEL
Page 66 and 67: EXHIBIT J-2RIO GRANDE CITY CISDSCHE
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This report is intended solely for
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A deficiency in internal control ov
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Effect: The District did not comply
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RIO GRANDE CITY CISDCORRECTIVE ACTI
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RIO GRANDE CITY CISDNOTES ON ACCOUN
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January 16, 2013__________________R
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RIO GRANDE CITY CISD ANNUAL FINANCIAL REPORT ... - rgccisd

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