TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

Comprehensive Annual Financial Report

Fiscal Year Ended June 30, 2020

2300 N. Tanque Verde Loop Rd. Bldg #1 ▪ Tucson, Arizona 85749

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TUCSON, ARIZONA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2020

Issued by: Business Office

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

INTRODUCTORY SECTION	Page

Letter of Transmittal	1

ASBO Certificate of Excellence	6

GFOA Certificate of Achievement	7

Organizational Structure	8

List of Principal Officials	9

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT	13

MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A)	17

BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements:

Statement of Net Position	30

Statement of Activities	31

Fund Financial Statements:

Balance Sheet – Governmental Funds	34

Reconciliation of the Balance Sheet –
Governmental Funds to the Statement of Net Position	37

Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	38

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds to the
Statement of Activities	40

Notes to Financial Statements	41

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

FINANCIAL SECTION	Page

REQUIRED SUPPLEMENTARY INFORMATION

Schedule of Revenues Expenditures and Changes in Fund Balances – Budget and Actual:

General Fund	64

Pension Schedules	66

Notes to Required Supplementary Information	68

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

Governmental Funds:

Combining Balance Sheet – All Non-Major Governmental Funds –
By Fund Type	72

Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – All Non-Major Governmental Funds – By Fund Type	74

Special Revenue Funds:

Combining Balance Sheet	78

Combining Statement of Revenues, Expenditures and
Changes in Fund Balances	84

Combining Schedule of Revenues, Expenditures and
Changes in Fund Balances – Budget and Actual	90

Debt Service Fund:

Schedule of Revenues, Expenditures and Changes in
Fund Balance – Budget and Actual	114

Capital Projects Funds:

Combining Balance Sheet	116

Combining Statement of Revenues, Expenditures and Changes in
Fund Balances	118

Combining Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual	120

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

STATISTICAL SECTION	Page

Financial Trends:

Net Position by Component	129

Expenses, Program Revenues, and Net (Expense)/Revenue	130

General Revenues and Total Changes in Net Position	132

Fund Balances – Governmental Funds	134

Governmental Funds Revenues	136

Governmental Funds Expenditures and Debt Service Ratio	138

Other Financing Sources and Uses and Net Changes in Fund
Balances – Governmental Funds	140

Revenue Capacity:

Net Limited Assessed Value and Full Cash Value of Taxable Property by Class	141

Net Full Cash Assessed Value of Taxable Property by Class	142

Property Tax Assessment Ratios	143

Direct and Overlapping Property Tax Rates	144

Principal Property Taxpayers	145

Property Tax Levies and Collections	146

Debt Capacity:

Outstanding Debt by Type	147

Direct and Overlapping Governmental Activities Debt	148

Direct and Overlapping General Bonded Debt Ratios	148

Legal Debt Margin Information	149

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

STATISTICAL SECTION	Page

Demographic and Economic Information:

County-Wide Demographic and Economic Statistics	150

Principal Employers	151

Operating Information:

Full-Time Equivalent District Employees by Type	152

Operating Statistics	154

Capital Assets Information	155

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INTRODUCTORY SECTION

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Tanque Verde Unified School District #13 2300N. Tanque Verde Loop Rd., Bldg. 1
Tucson, Arizona 85749

Phone: 520.749.5751▪ Fax: 520.749.5400 ▪ www.tanqueverdeschools.org

December 15, 2020

Citizens and Governing Board
Tanque Verde Unified School District No. 13 2300 N. Tanque Verde Loop Road, Bldg. #1 Tucson, Arizona 85749-8524

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 Tanque Verde Unified School District No. 13 (District) for the fiscal year ended June 30, 2020.

This report consists of management’s representations concerning the finances of the District. 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 District 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 District’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 District’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, 2020, 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 unmodified opinion that the District’s financial statements for the fiscal year ended June 30, 2020, are fairly presented in conformity with accounting principles generally accepted in the United States of America. The independent auditor’s report is presented as the first component of the financial section of this report.

District Administration: Dr. Scott Hagerman, Superintendent; Elaine Armienti, Business Manager Governing Board: Jeremy Schalk, President; Susan Fry, Clerk; Members: Jeffery Neff, Vieri Tenuta, Anne Velosa Page 1

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 18 public school districts located in Pima County, Arizona. It provides a program of public education from preschool through grade 12, with current enrollment of approximately 2,100 students. The average age of the District’s buildings is 20 years.

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. 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, and food services.

The District is located entirely in Pima County on the far east side of Tucson. The District is bounded on the north and east borders by the Coronado National Forest and by the Saguaro National Park as well as the Tucson Unified School District to the west and Vail School District to the south. The net limited assessed valuation increased 3.4% during the 2019-20 school year. The net limited assessed valuation places Tanque Verde in the middle of the other school districts in Pima County. However, the total primary and secondary school tax rate is among the lowest of the districts in the Tucson area. There are a few commercial operations within the District, including several plant nurseries, a golf country club, an internationally known resort, utility substations and a few retail stores. The District is mainly a quiet low density “bedroom community” with residents being in a retired status, or working in professional occupations in the Tucson area for IBM, the University of Arizona, or Raytheon.

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Tanque Verde Unified School District student test scores continue to far exceed both the state and national norms and are among the highest in the Tucson area as well as the State of Arizona. The District administrators and board members continue to be active in the Pima County Collaborative, a group composed of school board members and administrators from each district in Pima County. The major goal of the collaborative is to help formulate legislation that affects education in the State of Arizona and to make positive contacts with our legislators to that end.

Lastly, the District continues its membership in the Pima County Joint Technological Education District (JTED). Through JTED, the District offers its students enhanced career and technical education opportunities in such fields as computer technology, drafting and design, graphic communications, health care, and agriculture-science.

Enrollment in this program exceeds 150 students, around 28% or our High School population, and continued program offerings will enable our students to receive college credit by successfully completing the required course work. The JTED academic offerings at TVHS have been bolstered with an expansion of the veterinary science program and the expansion of an engineering/precision manufacturing program.

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 District is centered on Pima County, which has a population of over 1.0 million. The City of Tucson encompasses approximately 226 square miles. Principal economic activities within the District include manufacturing, services, government, education, and tourism. Some of Tucson’s largest employers include the following: Davis Monthan Air Force Base, the University of Arizona, and the Raytheon Missile Systems. Tucson is home to one of the world’s largest gem, mineral, and fossil shows, and the International Mariachi Festival.

The District consists of two elementary schools, one junior high school, and one high school. Support facilities include District administrative offices, maintenance facilities, and a transportation facility. All campuses and facilities are maintained in a serviceable condition that meets local code and safety standards.

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Long-term Financial Planning. In the November 2018 election, District voters approved the continuance of a 15% Maintenance and Operations override. This override is used primarily to fund teacher salaries to support arts, PE, and Advanced Placement programs. A $6.1 million bond question was passed during the November 2020 election. The bond will address capital needs at the four district schools.

The District continues to save an estimated $150,000 annually in electricity costs and will be for the next 17 years (the savings started in 2012-13). This was the initiative in conjunction with the Tucson Electric Power Company’s Energy Rebate Program; a solar company completed a $5.0 million lease purchase solar project in 2012 on the District’s campuses. The project was 100% paid for by the solar company.

With the prior sale of general obligation bonds in the principal amount not to exceed $14,000,000 in 2009, and the Arizona School Facilities Board award in fiscal year 2009-10, the District was able to make substantial additions and upgrades to its facilities. We built the Emily Gray Junior High School, added building upgrades at the three other school sites, and also added approximately 21,000 square feet of new classroom space at Tanque Verde High School.

Student enrollment has been slowly increasing with most of the increase occurring at the high school. The current enrollment is around 2,100. The District is currently over 80% capacity, with the elementary and junior high schools at over 90% capacity. This high level of enrollment ensures efficiency of staffing and the ability to provide a wide range of programs to support students. This can be seen in the District’s much higher than average percent of spending in the classroom.

Due to the increasing enrollment, the Arizona School Facilities Board awarded the District $5,882,852 for Tanque Verde High School and Emily Gray Jr High. This award will be used to add an additional 30,675 square feet combined at the two schools.

District administrators actively participate in the Southern Arizona School Business Officials, Southern Arizona School Personnel Administrators, Southern Arizona Professional Development, Southern Arizona Special Education Administrators, and Council for Exceptional Students, organizations will allow District administrators to meet with their respective professional groups to share training, interests, and concerns.

AWARDS AND ACKNOWLEDGMENT

Awards.	The Association of School Business Officials International (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, 2019. This was the twenty-sixth consecutive year that the District has received this prestigious award. 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, 2019. 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.

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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 ended June 30, 2020 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 office. 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. Scott Hagerman Superintendent

Elaine Armienti Business Manager

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_	_

The Certificate of Excellence in Financial Reporting is presented to

Tanque Verde Unified School District No. 13

for its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2019.

The CAFR meets the criteria established for ASBO International’s Certificate of Excellence.

Claire Hertz, SFO	David J. Lewis President                                                                           Executive Director

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Government Finance Officers Association

Certificate of Achievement for Excellence in Financial Reporting

Presented to

Tanque Verde Unified School District No. 13, Arizona

For its Comprehensive Annual Financial Report
For the Fiscal Year Ended

June 30, 2019

Executive Director/CEO

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

LIST OF PRINCIPAL OFFICIALS

GOVERNING BOARD

Jeremy Schalk, President

Susan Fry, Clerk

Jeffrey Neff, Member

Vieri Tenuta, Member

Anne Velosa, Member

ADMINISTRATIVE STAFF

Dr. Scott Hagerman Superintendent

Elaine Armienti Business Manager

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FINANCIAL SECTION

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INDEPENDENT AUDITOR’S REPORT

Governing Board
Tanque Verde Unified School District No. 13

Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Tanque Verde Unified School District No. 13 (District), as of and for the year ended June 30, 2020, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility
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 from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

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 Tanque Verde Unified School District No. 13, as of June 30, 2020, and the respective changes in financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Change in Accounting Principle
As described in Note 1, the District implemented the provisions of the Governmental Accounting Standards Board (GASB) Statement No. 84, Fiduciary Activities, for the year ended June 30, 2020, which represents a change in accounting principle. Our opinion is not modified with respect to this matter.

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Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis, budgetary comparison information, net pension liability information, , as listed in the table of contents, 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.

Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the District’s basic financial statements. 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 basic 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 basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Combining and Individual Fund Financial Statements and Schedules information is fairly stated in all material respects in relation to the basic financial statements as a whole.

The Introductory Section and Statistical Section 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.

Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 15, 2020, on our consideration of Tanque Verde Unified School District No. 13’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 solely 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 effectiveness of the Tanque Verde Unified School District No. 13’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Tanque Verde Unified School District No. 13’s internal control over financial reporting and compliance.

Heinfeld, Meech & Co., P.C. Tucson, Arizona
December 15, 2020

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

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

As management of the Tanque Verde Unified School District No. 13 (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, 2020. The management’s discussion and analysis is presented as required supplementary information to supplement the basic financial statements. 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 position of governmental activities increased $1.3 million which represents a 28 percent increase from the prior fiscal year primarily as a result of an increase in state equalization assistance.

·	General revenues accounted for $17.6 million in revenue, or 86 percent of all current fiscal year revenues. Program specific revenue in the form of charges for services and grants and contributions accounted for $2.8 million or 14 percent of total current fiscal year revenues.

·	The District had approximately $19.1 million in expenses related to governmental activities, an increase of six percent from the prior fiscal year primarily due to current year salary and wage increases, and increase in pension benefit expenses.

·	Among major funds, the General Fund had $14.9 million current fiscal year revenues, which primarily consisted of state aid and property taxes, and $14.1 million in expenditures. The General Fund’s fund balance increase from $2.1 million at the prior fiscal year end to $2.9 million at the end of the current fiscal year was primarily due to an increase in state equalization funding due to an increase in the funding formula adopted by the state.

·	The Building Renewal Grant Fund had $22,978 in total expenditures. The Building Renewal Grant Fund’s fund balance increase from a deficit fund balance of $1.4 million at the prior fiscal year end to a deficit fund balance of $7,716 was primarily due to reimbursements from the Arizona School Facilities Board.

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.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

OVERVIEW OF FINANCIAL STATEMENTS

The statement of net position presents information on all of the District’s assets, liabilities, and deferred inflows/outflows of resources with the difference reported as net position. Over time, increases or decreases in net position 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 position changed during the most recent fiscal year. All changes in net position 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 are reported as governmental 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.

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 decisions. 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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

OVERVIEW OF FINANCIAL STATEMENTS

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 and Building Renewal Grant Funds, both 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.

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 and pension plan. 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. Schedules for the pension plan have been provided as required supplementary information.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Net position may serve over time as a useful indicator of a government’s financial position. In the case of the District, assets and deferred outflows exceeded liabilities and deferred inflows by $6.0 million at the current fiscal year end.

The largest portion of the District’s net position reflects its investment in capital assets (e.g., land and improvements, buildings and improvements, and vehicles, furniture and equipment), less any related outstanding debt used to acquire those assets. 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 outstanding 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 position represents resources that are subject to external restrictions on how they may be used.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

GOVERNMENT-WIDE FINANCIAL ANALYSIS

The following table presents a summary of the District’s net position for the fiscal years ended June 30, 2020 and June 30, 2019.

Current and other assets Capital assets, net
Total assets

Deferred outflows

Current and other liabilities Long-term liabilities
Total liabilities

Deferred inflows

Net position:
Net investment in capital assets Restricted
Unrestricted
Total net position

As of June 30, 2020
$       6,289,457 23,774,364
	30,063,821 

1,633,028

1,040,017 23,336,654
	24,376,671 

1,274,059

14,797,848 2,047,215
(10,798,944)
	$	6,046,119 

As of June 30, 2019
$       4,900,244 24,460,064
	29,360,308 

2,323,506

935,362 24,405,578
	25,340,940 

1,678,362

14,622,454 1,716,069
(11,674,011)
	$	4,664,512 

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.

The following are significant current year transactions that had an impact on the Statement of Net Position.

·	The addition of $861,475 in accumulated depreciation through current year depreciation expense.

·	 The addition of $178,715 in capital assets through other school improvements and purchases of vehicles, furniture and equipment.

·	The principal retirement of $740,000 in bonds payable.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Changes in net position. The District’s total revenues for the current fiscal year were $20.5 million. The total cost of all programs and services was $19.1 million. The following table presents a summary of the changes in net position for the fiscal years ended June 30, 2020 and June 30, 2019.

Revenues: Program revenues:

Fiscal Year Ended
June 30, 2020

Fiscal Year Ended
June 30, 2019

Charges for services

Operating grants and contributions Capital grants and contributions
General revenues: Property taxes Investment income Unrestricted county aid Unrestricted state aid Total revenues
Expenses: Instruction
Support services – students and staff Support services – administration Operation and maintenance of plant Student transportation services Operation of non-instructional Interest on long-term debt
Total expenses

Changes in net position

Net position, beginning, as restated

Net position, ending

$      1,236,538 1,510,332 72,646

8,582,531 49,586 452,769 8,548,629 20,453,031

10,914,511 1,823,826 2,306,272 2,115,899 644,109 774,410 569,943 19,148,970 1,304,061 4,742,058
$	6,046,119

$	 1,309,256 1,563,682 1,377,681

8,155,129 45,840 440,970 7,525,965 20,418,523

9,969,533 1,661,032 2,354,152 1,943,774 804,490 798,546 606,992 18,138,519 2,280,004 2,384,508
$	4,664,512

Page 21

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Expenses - FiscalYear2020

Student	Operation of non-transportationinstructional services
services	4% 3%

Operation and maintenance of plant services 11%

Interest on long-term debt 3%

Instruction 57%

Support services -administration 12%

Support services -students and staff 10%

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

·	The $1.3 million decrease in capital grants and contributions was due to prior year Arizona School Facilities Board funding to repair the roof at Agua Caliente Elementary School.

·	 The $1.0 million increase in unrestricted state aid was due to an increase in base support level.

·	The $1.0 million increase in expenses is primarily due to salary increases for teachers, and pension related items.

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.

Page 22

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Year Ended June 30, 2020	Year Ended June 30, 2019

Total

Expenses

Net (Expense)/

Revenue

Total

Expenses

Net (Expense)/

Revenue

Instruction

Support services - students and staff Support services - administration Operation and maintenance of
plant services

Student transportation services Operation of non-instructional
services

$ 10,914,511 1,823,826 2,306,272

2,115,899 644,109

774,410

$	 (9,284,266) (1,685,124) (2,301,582)

(2,029,587) (644,109)

13,863

$	 9,969,533 1,661,032 2,354,152

1,943,774 804,490

798,546

$	 (8,357,849) (1,565,269) (2,261,862)

(522,639) (804,490)

48,935

Interest on long-term debt

Total

569,943

$	19,148,970

(398,649) $ (16,329,454)

606,992

$	18,138,519

(424,726) $ (13,887,900)

·	The cost of all governmental activities this year was $19.1 million.

·	Federal and State governments and charges for services subsidized certain programs with grants and contributions and other local revenues of $2.8 million.

·	Net cost of governmental activities of $16.3 million was financed by general revenues, which are made up of primarily property taxes of $8.6 million and state and county aid of $9.0 million. Investment earnings accounted for $49,586 of funding.

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 $4.8 million, an increase of $2.5 million primarily due to reimbursements from the Arizona School Facilities Board for roof repairs related to the Agua Caliente Elementary School.

Page 23

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS

The General Fund comprises 61 percent of the total fund balance. At year end, approximately $2.9 million, or 98 percent of the General Fund’s fund balance is unassigned.

The General Fund is the principal operating fund of the District. The increase in fund balance of $831,633 to $2.9 million as of fiscal year end was a result of an increase in state equalization funding due to an increase in the funding formula adopted by the state legislature. General Fund revenues increased $1.3 million. General Fund expenditures increased $170,965.

The Building Renewal Grant Fund had $22,978 in expenditures. The deficit fund balance of $7,716 was primarily due to reimbursements not received until after the period of availability.

BUDGETARY HIGHLIGHTS

Over the course of the year, the District revised the General Fund annual expenditure budget for changes in estimated student enrollment. The difference between the original budget and the final amended budget was a $409,417 increase, or three 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. The most significant variance was the favorable variance of $725,385 in instruction which was a result of budgeting for potential expenditures related to the classroom.

Page 24

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets. At year end, the District had invested $39.5 million in capital assets, including school buildings, athletic facilities, buses and other vehicles, computers, and other equipment. This amount represents a net increase prior to depreciation of $81,323. Total depreciation expense for the current fiscal year was $861,475.

The following schedule presents a summary of capital asset balances for the fiscal years ended June 30, 2020 and June 30, 2019.

Capital assets - non-depreciable Capital assets - depreciable, net

As of June 30, 2020
$            679,272 23,095,092

As of June 30, 2019
$             679,272 23,780,792

Total	$	23,774,364	$	24,460,064

Additional information on the District’s capital assets can be found in Note 7.

Debt Administration. At year end, the District had $9.6 million in long-term debt outstanding, $961,011 due within one year. Long-term debt decreased by $923,872.

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 30 percent of the total net full cash assessed valuation) and the statutory debt limit on Class B bonds (the greater of 20 percent of the net full cash assessed valuation or $1,500 per student). The current total debt limitation for the District is $61.1 million and the Class B debt limit is $40.8 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 8 through 10.

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 2020-21 budget. Among them:

·	Fiscal year 2019-20 budget balance carry forward. ·	District student population.
·	Employee salary and benefit rates.

Page 25

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2020

ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES

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 two percent to $15.1 million in fiscal year 2020-21. The state’s base support level is expected to increase is the primary reason for the increase. State aid and property taxes are expected to be the primary funding sources. No new programs were added to the 2020-21 budget. Due to COVID 19 and shutdowns that occurred during the 2019-2020 fiscal year, the District chose to be fiscally conservative with all expenditures for the remainder of the school year. There were many areas that the District was able to lower expenses which resulted in a higher than normal carry forward for the 2020-21 fiscal year. This rollover will be used to help cover any budget decreases the District has during the 2020-21 fiscal year.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, taxpayers, and 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 Office; Tanque Verde Unified School District No. 13; 2300 North Tanque Verde Loop, Building #1; Tucson, Arizona 85749.

Page 26

BASIC FINANCIAL STATEMENTS

Page 27

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Page 28

GOVERNMENT-WIDE FINANCIAL STATEMENTS

Page 29

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF NET POSITION JUNE 30, 2020

ASSETS Current assets:
Cash and investments Property taxes receivable Accounts receivable
Due from governmental entities Prepaid items
Inventory
Total current assets

Noncurrent assets:
Capital assets not being depreciated
Capital assets, net of accumulated depreciation Total noncurrent assets
Total assets

DEFERRED OUTFLOWS OF RESOURCES Pension plan items

LIABILITIES Current liabilities:
Accounts payable Construction contracts payable
Accrued payroll and employee benefits Compensated absences payable Obligations under capital leases
Bonds payable
Total current liabilities

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

DEFERRED INFLOWS OF RESOURCES Pension plan items

Governmental Activities

$         2,643,789 323,290
23,502 3,209,947 52,156 36,773 6,289,457

679,272 23,095,092 23,774,364 30,063,821

1,633,028

138,406 77,077 824,534 105,861 191,011 770,000 2,106,889

22,269,782 22,269,782 24,376,671

1,274,059

NET POSITION
Net investment in capital assets Restricted
Unrestricted
Total net position

14,797,848 2,047,215 (10,798,944)
$	6,046,119

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

Page 30

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF ACTIVITIES YEAR ENDED JUNE 30, 2020

Net (Expense) Revenue and Changes in Net
Program Revenues	Position

Functions/Programs Governmental activities:
Instruction	$ Support services - students and staff
Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Interest on long-term debt
Total governmental activities	$

Operating	Capital Grants
Charges for	Grants and	and	Governmental Expenses	Services            Contributions       Contributions           Activities

10,914,511 $             573,345 $          1,028,115 $               28,785 $       (9,284,266) 1,823,826                                             138,702                                       (1,685,124) 2,306,272                                                 4,690                                       (2,301,582) 2,115,899                  24,368                  18,083                  43,861           (2,029,587) 644,109                                                                                                    (644,109) 774,410                638,825                149,448                                               13,863 569,943                                             171,294                                          (398,649) 19,148,970 $          1,236,538 $          1,510,332 $               72,646         (16,329,454)

General revenues: Taxes:
Property taxes, levied for general purposes Property taxes, levied for debt service
Investment income Unrestricted county aid Unrestricted state aid
Total general revenues

Changes in net position

Net position, beginning of year, as restated

7,386,060 1,196,471 49,586 452,769 8,548,629 17,633,515

1,304,061

4,742,058

Net position, end of year	$	6,046,119

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

Page 31

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Page 32

FUND FINANCIAL STATEMENTS

Page 33

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 BALANCE SHEET - GOVERNMENTAL FUNDS JUNE 30, 2020

ASSETS
Cash and investments Property taxes receivable Accounts receivable
Due from governmental entities Due from other funds
Prepaid items Inventory
Total assets

General

$            795,839 289,741
23,502 1,772,160 1,095,398 19,917 36,773
$	4,033,330

Building Renewal Grant

$

997,639

$	997,639

Non-Major Governmental Funds

$         1,847,950 33,549

440,148

32,239

$	2,353,886

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable	$ Construction contracts payable
Due to other funds
Accrued payroll and employee benefits Total liabilities

65,859

759,125 824,984

$	$

1,005,355

1,005,355

72,547 77,077 90,043 65,409 305,076

Deferred inflows of resources: Unavailable revenues - property taxes
Unavailable revenues - intergovernmental Total deferred inflows of resources

270,803

270,803

29,316 107,741 137,057

Fund balances (deficits): Nonspendable Restricted
Unassigned
Total fund balances

56,690

2,880,853 2,937,543

(7,716) (7,716)

32,239 1,901,608 (22,094) 1,911,753

Total liabilities, deferred inflows of resources
and fund balances	$	4,033,330	$	997,639	$	2,353,886

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

Page 34

Total Governmental Funds

$         2,643,789 323,290
23,502 3,209,947 1,095,398 52,156 36,773
$	7,384,855

$            138,406 77,077 1,095,398 824,534 2,135,415

300,119 107,741 407,860

88,929 1,901,608 2,851,043 4,841,580

$	7,384,855

Page 35

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Page 36

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION JUNE 30, 2020

Total governmental fund balances	$	4,841,580

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

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

Governmental capital assets Less accumulated depreciation

$	39,505,970
(15,731,606)	23,774,364

Some receivables are not available to pay for current period expenditures and, therefore, are reported as unavailable revenues in the funds.

Property taxes

Intergovernmental

300,119

107,741	407,860

Deferred outflows and inflows of resources related to pensions are applicable to future periods and, therefore, are not reported in the funds.

Deferred outflows of resources related to pensions

Deferred inflows of resources related to pensions

1,633,028

(1,274,059)	358,969

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

Compensated absences payable Obligations under capital leases Net pension liability
Bonds payable

(529,303) (1,112,882) (13,244,469)
(8,450,000)	(23,336,654)

Net position of governmental activities	$	6,046,119

The notes to the basic financial statements are an integral part of this statement. Page 37

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local Property taxes
State aid and grants
Federal aid, grants and reimbursements Total revenues

General

$	 595,557 7,261,923 7,010,505

14,867,985

Building Renewal Grant

$

1,399,437

1,399,437

Non-Major Governmental Funds

$         1,651,934 1,183,221 1,714,946 907,267 5,457,368

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Debt service -Principal retirement
Interest and fiscal charges Total expenditures

Changes in fund balances

Fund balances (deficits), beginning of year, as restated

8,209,858 1,330,400 2,134,916 1,716,363 552,006 60,101 62,269

14,065,913

802,072

2,105,910

22,978

22,978

1,376,459

(1,384,175)

2,001,052 432,282 15,469 20,611
36 684,669 499,510

923,872 569,943 5,147,444

309,924

1,607,787

Increase (decrease) in reserve for prepaid items Increase (decrease) in reserve for inventory

(7,212)	(5,958) 36,773

Fund balances (deficits), end of year	$	2,937,543	$	(7,716)	$	1,911,753

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

Page 38

Total Governmental Funds

$         2,247,491 8,445,144 10,124,888 907,267 21,724,790

10,210,910 1,762,682 2,150,385 1,736,974 552,042 744,770 584,757

923,872 569,943 19,236,335

2,488,455

2,329,522

(13,170) 36,773

$	4,841,580

Page 39

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES YEAR ENDED JUNE 30, 2020

Changes in fund balances - total governmental funds	$	2,488,455

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 costs of those assets
are allocated over their estimated useful lives and reported as depreciation expense.

Expenditures for capitalized assets

Less current year depreciation

$	178,715

(861,475)	(682,760)

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

Property taxes

Intergovernmental

137,608

(1,409,367)	(1,271,759)

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

Capital lease principal retirement

Bond principal retirement

183,872

740,000	923,872

Governmental funds report pension contributions as expenditures. However, they are reported as deferred outflows of resources in the Statement of Net Position. The change in the net pension liability, adjusted for deferred items, is reported as pension expense in the Statement of Activities.

Current year pension contributions

Pension expense

1,203,213

(1,384,430)	(181,217)

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

Prepaid items Inventory
Loss on disposal of assets

Compensated absences

(13,170) 36,773
(2,940)

6,807	27,470

Changes in net position in governmental activities	$	1,304,061

The notes to the basic financial statements are an integral part of this statement. Page 40

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of Tanque Verde Unified School District No. 13 (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.

During the year ended June 30, 2020, the District implemented the provisions of GASB Statement No. 84, Fiduciary Activities. This Statement establishes criteria for identifying fiduciary activities for accounting and financial reporting purposes, and provides guidance as to how those activities should be reported. Student Activities and employee withholding accounts reported in the prior year as fiduciary activities do not meet these new fiduciary activities criteria and have been reclassified as special revenue governmental funds and the General Fund. Beginning balances of the governmental funds and governmental activities have been restated by $77,546 accordingly.

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, and food services.

Page 41

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

B. Government-Wide and Fund Financial Statements

The government-wide financial statements (i.e., the statement of net position 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 or fiduciary 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 and county aid, and other items not included among program revenues are reported instead as general revenues.

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. 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.

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 expenditures, as well as expenditures related to compensated absences, and claims and judgments, are recorded only when payment is due.

Page 42

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Property taxes, federal, state, and county aid, tuition, 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. Unearned 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 unavailable revenues 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.

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 certain activities budgeted in separate funds in accordance with A.R.S. These funds are maintained as separate funds for purposes but do not meet the criteria for separate reporting in the financial statements.

Building Renewal Grant – to account for building renewal grant monies requested 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.

D. Cash and Investments

A.R.S. require the District to deposit all cash with the County Treasurer, except as discussed below. Cash with the County Treasurer is pooled for investment purposes, except for cash of the Debt Service and Bond Building Funds which 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. All investments are stated at fair value.

Statute authorizes the District to separately invest monies of the Bond Building and Debt Service Funds in the State Treasurer’s investment pools; obligations issued and guaranteed by the United States or any of its agencies or instrumentalities; specified state and local government bonds and notes; and interest bearing savings accounts or certificates of deposit.

Page 43

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Statute authorizes the District to deposit monies of the Auxiliary Operations and Student Activities Funds in bank accounts. Monies in these funds may also be invested. In addition, statute authorizes the District to maintain various bank accounts such as clearing accounts to temporarily deposit receipts before they are transmitted to the County Treasurer; revolving accounts to pay minor disbursements; and withholdings accounts for taxes and employee insurance programs. Some of these bank accounts may be interest bearing.

Statute does not include any requirements for credit risk, concentration of credit risk, interest rate risk, or foreign currency risk. Arizona statute requires a pooled collateral program for public deposits and a Statewide Collateral Pool Administrator (Administrator) in the State Treasurer’s Office. The purpose of the pooled collateral program is to ensure that governmental entities’ public deposits placed in participating depositories are secured with collateral of 102 percent of the public deposits, less any applicable deposit insurance. An eligible depository may not retain or accept any public deposit unless it has deposited the required collateral with a qualified escrow agent or the Administrator. The Administrator manages the pooled collateral program, including reporting on each depository’s compliance with the program.

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.

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.” Interfund balances between governmental funds are eliminated on the Statement of Net Position. All receivables, including property taxes receivable, are shown net of an allowance for uncollectibles.

G. Property Tax Calendar

The County Treasurer is responsible for collecting property taxes for all governmental entities within the county. The county levies real and personal property taxes on or before the third Monday in August, that 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.

Page 44

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

H. Inventory

All inventories are valued at cost using the first-in/first-out (FIFO) method. Inventories consist of expendable supplies held for consumption. Inventories are recorded as expenses when consumed on the government-wide financial statements and as expenditures when purchased on the fund financial statements.

I. 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 and as expenditures when purchased in the fund financial statements.

J. 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. Capital assets are recorded at historical cost if purchased or constructed. Donated capital assets are recorded at acquisition 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 Buildings and improvements
Vehicles, furniture and equipment

5 - 50 years 5 - 50 years 5 - 40 years

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

K. Deferred Outflows/Inflows of Resources

In addition to assets, the statement of financial position may report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position may report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period and so will not be recognized as an inflow of resources (revenue) until that time.

L. Compensated Absences

The District's employee vacation and sick leave policies generally provide for granting vacation and sick leave with pay. All employees continuously employed by the District for more than three years may accrue sick leave up to a maximum of 180 days. All full-time classified employees earn vacation at rates depending on length of service; however, accumulated vacation as of June 30 cannot exceed 40 days at the end of any fiscal year. 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, resignations and retirements. Generally, resources from the General Fund are used to pay for compensated absences.

M. Pensions and Other Postemployment Benefits

For purposes of measuring the net pension liability, related deferred outflows of resources and deferred inflows of resources, and pension expense, information about the pension plan’s fiduciary net position and additions to/deductions from the plan’s fiduciary net position have been determined on the same basis as they are reported by the plan. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

N. 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 position. Bond premiums and discounts are amortized over the life of the bonds using the straight-line method. Deferred amounts on refunding result from the difference between the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

O. 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.

P. Net Position Flow Assumption

In the government-wide financial statements the District applies restricted resources first when outlays are incurred for purposes for which either restricted or unrestricted amounts are available.

Q. 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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

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.

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. The District does not have a formal policy or procedures for the utilization of committed fund balance, accordingly, no committed fund balance amounts are reported.

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. The District does not have a formal policy for the utilization of assigned fund balance, accordingly, no assigned fund balance amounts are reported.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 2 – FUND BALANCE CLASSIFICATIONS

The District applies restricted resources first when outlays 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.

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

Fund Balances: Nonspendable:
Inventory Prepaid items
Restricted: Debt service
Capital projects Teacher compensation
Federal and state projects Auxiliary operations Food service
Community school Extracurricular activities Student activities
Other purposes Unassigned
Total fund balances

General Fund

$            36,773 19,917

2,880,853 $	2,937,543

Building	Non-Major Renewal Grant     Governmental
Fund	Funds

$	$
32,239

232,038 305,425 683,986 65,502 188,576 7,402 8,145 309,065 84,444 17,025
(7,716)	(22,094) $	(7,716) $        1,911,753

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 3 – RESTRICTED NET POSITION

The table below provides detail of the major components of the District’s restricted net position at year end.

Governmental Activities

Restricted Net Position: Debt service
Capital projects Teacher compensation
Federal and state projects Auxiliary operations Food service
Community school Extracurricular activities Student activities
Other purposes Total

$        345,406 333,989 683,986 65,502 188,576 7,402
8,145 309,065 84,444 20,700
$	2,047,215

NOTE 4 – STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Individual Deficit Fund Balances – At year end, the following individual major and non-major governmental funds reported deficits in fund balance.

Major Fund:
Building Renewal Grant
Non-Major Governmental Funds: English Language Learner Professional Development and
Technology Grants Special Education Grants Vocational Education State Vocational Education Other State Projects

Deficit

$	7,716

170

1,130 7,849 10,204 2,191 550

The deficits arose because of operations during the year and/or because of pending grant and other reimbursements. Additional revenues received in fiscal year 2020-21 are expected to eliminate the deficits.

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

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 5 – CASH AND INVESTMENTS

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 $149,624 and the bank balance was $285,234.

Fair Value Measurements. The District categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset.

·	Level 1 inputs are quoted prices in active markets for identical assets ·	Level 2 inputs are significant other observable inputs
·	Level 3 inputs are significant unobservable inputs

The County Treasurer’s pool is an external investment pool with no regulatory oversight. The pool is not required to register (and is not registered) with the Securities and Exchange Commission. The fair value of each participant’s position in the County Treasurer investment pool approximates the value of the participant’s shares in the pool and the participants’ shares are not identified with specific investments. Participants in the pool are not required to categorize the value of shares in accordance with the fair value hierarchy.

At year end, the District’s investments consisted of the following:

Average Maturities	Fair Value County Treasurer’s investment pool	202 days                $      2,494,165

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 pools 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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 6 – 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:

Due from other governmental entities: Due from federal government
Due from state government Due from county government Due from other districts
Net due from governmental entities

General Fund

$
1,762,334 9,826

$	1,772,160

Building Renewal Grant Fund

$
997,639

$	997,639

Non-Major Governmental Funds

$         173,511 241,708

24,929 $	440,148

NOTE 7 – CAPITAL ASSETS

A summary of capital asset activity for the current fiscal year follows:

Governmental Activities
Capital assets, not being depreciated: Land
Total capital assets, not being depreciated Capital assets, being depreciated:
Land improvements Buildings and improvements
Vehicles, furniture and equipment

Beginning Balance

$	 679,272 $ 679,272

1,157,540 34,809,744 2,778,091

Increase

95,442 56,418 26,855

Decrease

$	$

5,226

92,166

Ending Balance

679,272 679,272

1,247,756 34,866,162 2,712,780

Total capital assets being depreciated Less accumulated depreciation for:
Land improvements Buildings and improvements
Vehicles, furniture and equipment Total accumulated depreciation

Total capital assets, being depreciated, net

38,745,375

(498,228) (12,387,409) (2,078,946) (14,964,583)

23,780,792

178,715

(30,854) (770,564) (60,057) (861,475)

(682,760)

97,392

(2,286)

(92,166) (94,452)

2,940

38,826,698

(526,796) (13,157,973) (2,046,837) (15,731,606)

23,095,092

Governmental activities capital assets, net	$ 24,460,064 $	(682,760) $	2,940 $ 23,774,364

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 7 – CAPITAL ASSETS

Depreciation expense was charged to governmental functions as follows:

Instruction
Support services – students and staff Support services – administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services
Total depreciation expense – governmental activities

$     410,823 622
23,301 358,571 59,630 8,528
$	861,475

NOTE 8 – OBLIGATIONS UNDER CAPITAL LEASES

The District has acquired stadium lighting and seating upgrades, utility management, energy efficient equipment, and vehicles 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. Amortization of assets recorded under capital leases is included with depreciation expense.

The assets acquired through capital leases that meet the District’s capitalization threshold are as follows:

Governmental Activities

Asset:
Land improvements
Vehicles, furniture and equipment Less: Accumulated depreciation
Total

$	 413,000 515,534 125,524
$	803,010

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 8 – OBLIGATIONS UNDER CAPITAL LEASES

The future minimum lease obligations and the net present value of these minimum lease payments at year end were as follows:

Governmental Year Ending June 30:	Activities

2021 2022 2023 2024 2025 2026-30
Total minimum lease payments

$           233,069 196,532 189,005 185,240 158,187 311,549 1,273,582

Less: amount representing interest	160,700

Present value of minimum lease payments

Due within one year

$	1,112,882

$	191,011

NOTE 9 – GENERAL OBLIGATION BONDS PAYABLE

Bonds payable at year end consisted of the following general obligation bonds. The bonds are callable with interest payable semiannually. Property taxes from the Debt Service Fund are used to pay bonded debt. In addition, a portion of the District’s school improvement bonds are Qualified Build America Bonds (BABS). The District receives a direct subsidy payment from the United States of America for a portion of the interest due on the bonds. The District’s legal debt limit is $61.1 million and the available margin is $52.7 million.

Original Purpose	Amount Issued

Interest Rates

Remaining Maturities

Outstanding Principal June 30, 2020

Due Within One Year

Governmental activities:
School Improvement Bonds, Build
America, Series 2010 (Class B)	$	11,785,000 5.173-6.073%	7/1/21-29	$	8,450,000 $ 770,000

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 9 – GENERAL OBLIGATION BONDS PAYABLE

Governmental Activities

Year ending June 30:
2021 2022 2023 2024 2025 2026-30

Principal
$         770,000 825,000 875,000 900,000 950,000 4,130,000

Interest
$	 482,926 443,094 399,180 351,290 300,684 630,272

Total	$	8,450,000	$	2,607,446

NOTE 10 – 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: General obligation bonds Obligations under capital leases Net pension liability Compensated absences payable

$ 9,190,000 $ 1,296,754 13,332,836
536,110

$	740,000 $ 183,872
88,367 74,050	80,857

8,450,000 $ 1,112,882
13,244,469 529,303

770,000 191,011

105,861

Governmental activity long-term
liabilities	$ 24,355,700 $	74,050 $ 1,093,096 $ 23,336,654 $ 1,066,872

NOTE 11– INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS

At year end, interfund balances were as follows:

Due to/from other funds – At year end, the Building Renewal Grant Fund, a major governmental fund, and several non-major governmental funds had negative cash balances of $1,005,355, and $90,043 respectively, 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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 12 – CONTINGENT LIABILITIES

Compliance – The District has received a notice from the Office of the Auditor General that indicated the District had failed to substantially comply with the Uniform System of Financial Records (USFR), the manual which outlines State mandated internal control policies and procedures. According to A.R.S. Section 15-271, the District has 90 days to implement procedures to correct the deficiencies. The District is currently awaiting the status review report from the Office of the Auditor General. If the Auditor General’s review results in a noncompliance status, the State Board of Education may withhold a portion of the District’s monthly state aid distribution, until such time as the District is found to be in compliance. Upon reaching a substantial compliance status, the State Board of Education will distribute all funds previously withheld. However, it is management’s opinion that the District will be found in compliance upon the next status review.

In addition, 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.

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.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 13 – RISK MANAGEMENT

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 continues to carry commercial insurance for employee dental, vision, and life coverage. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years.

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Plan Description. District employees participate in the Arizona State Retirement System (ASRS). The ASRS administers a cost-sharing multiple-employer defined benefit pension plan, a cost-sharing multiple-employer defined benefit health insurance premium benefit (OPEB) plan, and a cost-sharing multiple-employer defined benefit long-term disability (OPEB) plan. The Arizona State Retirement System Board governs the ASRS according to the provisions of A.R.S. Title 38, Chapter 5, Articles 2 and 2.1. ASRS is a component unit of the State of Arizona. The ASRS issues a publicly available financial report that includes its financial statements and required supplementary information. The report is available on the ASRS website at www.azasrs.gov.

The ASRS OPEB plans are not further disclosed because of their relative insignificance to the District’s financial statements.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Benefits Provided. The ASRS provides retirement, health insurance premium supplement, long-term disability, and survivor benefits. State statute establishes benefit terms. Retirement benefits are calculated on the basis of age, average monthly compensation, and service credit as follows:

Years of service and age required to receive benefit

Retirement Initial Membership Date:
Before July 1, 2011	On or After July 1, 2011 Sum of years and age equals 80     30 years, age 55
10 years, age 62	25 years, age 60 5 years, age 50*	10 years, age 62 Any years, age 65	5 years, age 50*
Any years, age 65

Final average salary is based on

Highest 36 months of last 120 months

Highest 60 months of last 120 months

Benefit percent per year of service

2.1% to 2.3%	2.1% to 2.3%

*With actuarially reduced benefits

Retirement benefits for members who joined the ASRS prior to September 13, 2013, are subject to automatic cost-of-living adjustments based on excess investment earnings. Members with a membership date on or after September 13, 2013, are not eligible for cost-of-living adjustments. Survivor benefits are payable upon a member’s death. For retired members, the survivor benefit is determined by the retirement benefit option chosen. For all other members, the beneficiary is entitled to the member’s account balance that includes the member’s contributions and employer’s contributions, plus interest earned.

Contributions. In accordance with state statutes, annual actuarial valuations determine active member and employer contribution requirements. The combined active member and employer contribution rates are expected to finance the costs of benefits employees earn during the year, with an additional amount to finance any unfunded accrued liability. For the current fiscal year, active ASRS members were required by statute to contribute at the actuarially determined rate of 12.11 percent (11.94 percent for retirement and 0.17 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 12.11 percent (11.45 percent for retirement, 0.49 percent for health insurance premium benefit, and 0.17 percent for long-term disability) of the active members’ annual covered payroll. The District’s contributions to the pension plan for the year ended June 30, 2020 were $1.2 million.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Employers are also required to pay an Alternate Contribution Rate (ACR), for retired members who return to work in positions that would typically be filled by an employee who contributes to ASRS. The District was required by statute to contribute at the actuarially determined rate of 10.41 percent (10.29 for retirement, 0.05 percent for health insurance premium benefit, and 0.07 percent for long-term disability). ACR contributions are included in employer contributions presented above.

The District’s pension contributions are paid by the same funds as the employee’s salary, with the largest component coming from the General Fund.

Pension Liability. The net pension liability was measured as of June 30, 2019. The total liability used to calculate the net liability was determined using update procedures to roll forward the total liability from an actuarial valuation as of June 30, 2018, to the measurement date of June 30, 2019. The District’s proportion of the net liability was based on the District’s actual contributions to the applicable plan relative to the total of all participating employers’ contributions to the plan for the year ended June 30, 2019.

At June 30, 2020, the District reported the following amounts for its proportionate share of the pension plan net liability. In addition, at June 30, 2019, the District’s percentage proportion for the plan and the related change from its proportion measured as of June 30, 2018 was:

Net Liability
$	13,244,469

District

% Proportion

0.091

Increase (Decrease)
(0.005)

Pension Expense and Deferred Outflows/Inflows of Resources. The District has deferred outflows and inflows of resources related to the net pension liability. Certain changes in the net pension liability are recognized as pension expense over a period of time rather than the year of occurrence. The District’s pension expense for the year ended June 30, 2020 was $1.4 million.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

The District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Outflows of
Resources

Deferred Inflows of
Resources

Differences between expected and actual experience Changes of assumptions or other inputs
Net difference between projected and actual earnings on pension investments
Changes in proportion and differences between contributions and proportionate share of contributions
Contributions subsequent to the measurement date

Total

$            239,265 55,985

134,565 1,203,213
$	1,633,028

$                 2,490 527,421

297,690

446,458

$	1,274,059

The amounts of deferred outflows of resources resulting from contributions subsequent to the measurement date as reported in the table above will be recognized as an adjustment of the net pension liability in the year ended June 30, 2021. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year Ending June 30:

2021	$	(302,503) 2022                   (564,301) 2023                     (57,169) 2024                       79,729

Actuarial Assumptions. The significant actuarial assumptions used to measure the total pension liability are as follows:

Actuarial valuation date Actuarial roll forward date Actuarial cost method Investment rate of return Inflation
Projected salary increases Permanent base increases Mortality rates

June 30, 2018 June 30, 2019 Entry age normal 7.5%
2.3%
2.7-7.2% Included
2017 SRA Scale U-MP

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

The actuarial assumptions used in the June 30, 2018 valuation were based on the results of an actuarial experience study for the five-year period ended June 30, 2016. The purpose of the experience study was to review actual experience in relation to the actuarial assumptions in effect. The ASRS Board adopted the experience study recommended changes which were applied to the June 30, 2017, actuarial valuation.

The long-term expected rate of return on ASRS plan investments was determined to be 7.5 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage, excluding any expected inflation.

On June 29, 2018, the ASRS Board approved updated strategic asset allocation targets, to be effective July 2018. The target allocation and best estimates of geometric real rates of return for each major asset class plans are summarized in the following table:

Asset Class Equity Credit
Interest rate sensitive bonds Real estate
Total

Target Allocation 50% 20%
10 20%
100%

Long-Term Expected Geometric Real Rate of Return
6.09% 5.36 1.62 5.85

Discount Rate. The discount rate used to measure the total pension liability was 7.5 percent. The projection of cash flows used to determine the discount rate assumed that contributions from participating employers will be made based on the actuarially determined rates based on the ASRS Board’s funding policy, which establishes the contractually required rate under Arizona statute. Based on those assumptions, the plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on investments was applied to all periods of projected benefit payments to determine the total pension liability.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2020

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate. The following presents the District’s proportionate share of the net pension liability calculated using the discount rate of 7.5 percent, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current rate:

1% Decrease

Rate	6.5%

Current Discount Rate
7.5%

1% Increase

8.5%

Net liability	$	18,849,947	$	13,244,469	$	8,559,732

Contributions payable. The District’s accrued payroll and employee benefits included $43,080 of outstanding pension contribution amounts payable to ASRS for the year ended June 30, 2020.

Pension Plan Fiduciary Net Position. Detailed information about the pension OPEB plan’s fiduciary net position is available in the separately issued ASRS financial report. The report is available on the ASRS website at www.azasrs.gov.

Page 62

REQUIRED SUPPLEMENTARY INFORMATION

Page 63

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL
YEAR ENDED JUNE 30, 2020

Revenues: Other local Property taxes
State aid and grants Total revenues

Budgeted Amounts

Original	Final

$	$

Non-GAAP Actual

$            436,015 7,261,923 7,010,505 14,708,443

Variance with Final Budget Positive (Negative)

$            436,015 7,261,923 7,010,505 14,708,443

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Total expenditures

Changes in fund balances

8,809,996 1,090,650 2,035,508 1,831,419 600,173 53,749 14,421,495

(14,421,495)

8,921,647 1,328,615 2,233,400 1,695,100 604,000 48,150 14,830,912

(14,830,912)

8,196,262 1,298,666 2,125,226 1,711,363 552,006 59,159 13,942,682

765,761

725,385 29,949 108,174 (16,263) 51,994 (11,009) 888,230

15,596,673

Fund balances, beginning of year

Increase (decrease) in reserve for prepaid items Increase (decrease) in reserve for inventory

1,930,049

(4,162) 36,773

1,930,049

(4,162) 36,773

Fund balances (deficits), end of year	$	(14,421,495)	$	(14,830,912)	$	2,728,421	$	17,559,333

See accompanying notes to this schedule.

Page 64

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Page 65

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

SCHEDULE OF THE PROPORTIONATE SHARE OF THE NET PENSION LIABILITY ARIZONA STATE RETIREMENT SYSTEM LAST SIX FISCAL YEARS

2020	2019	2018	2017

Measurement date

District's proportion of the net pension

(assets) liability

June 30, 2019

0.091%

June 30, 2018

0.096%

June 30, 2017

0.093%

June 30, 2016

0.091%

District's proportionate share of the net pension (assets) liability

District's covered payroll

$	13,244,469

$	9,793,784

$	13,332,836

$	9,523,862

$	14,563,920

$	9,067,653

$	14,699,613

$	8,706,710

District's proportionate share of the net pension (assets) liability as a percentage of its covered payroll

Plan fiduciary net position as a

percentage of the total pension liability

135.23%

73.24%

139.99%

73.40%

160.61%

69.92%

168.83%

67.06%

SCHEDULE OF PENSION CONTRIBUTIONS ARIZONA STATE RETIREMENT SYSTEM LAST SIX FISCAL YEARS

2020	2019	2018	2017

Actuarially determined contribution	$	1,203,213	$	1,094,945	$	1,038,101	$	977,493

Contributions in relation to the

actuarially determined contribution	1,203,213	1,094,945	1,038,101	977,493

Contribution deficiency (excess)	$	$	$	$

District's covered payroll	$	10,508,410	$	9,793,784	$	9,523,862	$	9,067,653

Contributions as a percentage

of covered payroll	11.45%	11.18%	10.90%	10.78%

NOTE: The pension schedules in the required supplementary information are intended to show information for ten years, and additional information will be displayed as it becomes available.

See accompanying notes to this schedule.

Page 66

2016

June 30, 2015

2015	2014	2013

June 30, 2014	0	0

2012	2011	#

0	0

0.091%	0.082%	0.000%	0.000%	0.000%	0.000%

$	14,138,702

$	8,377,952

$	13,687,116	$	$	$	$

$	8,102,832	$	$	$	$

168.76%

68.35%

2016

168.92%

69.49%

2015

#DIV/0!

0.00%

2014

#DIV/0!

0.00%

2013

#DIV/0!

0.00%

2012

#DIV/0!

0.00%

2011

$	944,678	$	912,359	$	$	$	$

944,678	912,359

$	$	$	$	$	$

$	8,706,710	$	8,377,952	$	$	$	$

10.85%	10.89%	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!

Page 67

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO REQUIRED SUPPLEMENTARY INFORMATION JUNE 30, 2020

NOTE 1 – BUDGETARY BASIS OF ACCOUNTING

The District budget is prepared on a basis consistent with accounting principles generally accepted in the United States of America, except for the following items.

·	Certain activities reported in the General Fund are budgeted in separate funds in accordance with Arizona Revised Statutes.
·	Employee insurance expenditures are budgeted in the year the employee insurance account is funded.

The following schedule reconciles expenditures and fund balances at the end of year:

Total Expenditures

Fund Balances End of Year

Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds
Activity budgeted as special revenue funds Employee insurance account
Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – General Fund

$ 14,065,913	$ (146,674)
23,443

$ 13,942,682	$

2,937,543 (185,114)
(24,008)

2,728,421

NOTE 2 – PENSION PLAN SCHEDULES

Actuarial Assumptions for Valuations Performed. The information presented in the required supplementary schedules was determined as part of the actuarial valuations at the dates indicated, which is the most recent actuarial valuation. The actuarial assumptions used are disclosed in the notes to the financial statements.

Factors that Affect Trends. The actuarial assumptions used in the June 30, 2018, valuation were based on the results of an actuarial experience study for the five-year period ended June 30, 2016. The purpose of the experience study was to review actual experience in relation to the actuarial assumptions in effect. The ASRS Board adopted the experience study recommended changes which were applied to the June 30, 2017, actuarial valuation.

Page 68

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

Page 69

(This page intentionally left blank)

Page 70

GOVERNMENTAL FUNDS

Page 71

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING BALANCE SHEET - ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE JUNE 30, 2020

ASSETS
Cash and investments Property taxes receivable
Due from governmental entities Prepaid items
Total assets

Special Revenue

$	1,333,314

257,244 3,675
$	1,594,233

Debt Service

$	227,805 31,954 85,647

$	345,406

Capital Projects

$            286,831 1,595
97,257 28,564
$	414,247

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable	$ Construction contracts payable
Due to other funds
Accrued payroll and employee benefits Total liabilities

70,961           $                                    $                1,586 77,077
90,043 65,409
226,413	78,663

Deferred inflows of resources: Unavailable revenues - property taxes
Unavailable revenues - intergovernmental Total deferred inflows of resources

Fund balances (deficits): Nonspendable Restricted
Unassigned
Total fund balances

22,094 22,094

3,675 1,364,145 (22,094) 1,345,726

27,721 85,647 113,368

232,038

232,038

1,595

1,595

28,564 305,425

333,989

Total liabilities, deferred inflows of resources
and fund balances	$	1,594,233	$	345,406	$	414,247

Page 72

Total Non-Major Governmental Funds

$         1,847,950 33,549
440,148 32,239
$	2,353,886

$	72,547 77,077 90,043 65,409
305,076

29,316 107,741 137,057

32,239 1,901,608 (22,094) 1,911,753

$	2,353,886

Page 73

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE YEAR ENDED JUNE 30, 2020

Revenues: Other local Property taxes
State aid and grants
Federal aid, grants and reimbursements Total revenues

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Debt service -Principal retirement
Interest and fiscal charges Total expenditures

Changes in fund balances

Fund balances, beginning of year, as restated

Special Revenue

$	1,613,273

1,351,952 821,620 3,786,845

2,001,052 432,282 15,469 20,611
36 684,669 132,119

3,286,238

500,607

872,361

Debt Service

$                8,665 1,181,187

85,647 1,275,499

740,000 520,746 1,260,746

14,753

217,285

Capital Projects

$              29,996 2,034
362,994

395,024

367,391

183,872 49,197 600,460

(205,436)

518,141

Increase (decrease) in reserve for prepaid items	(27,242)	21,284

Fund balances, end of year	$	1,345,726	$	232,038	$	333,989

Page 74

Total Non-Major Governmental Funds

$         1,651,934 1,183,221 1,714,946 907,267 5,457,368

2,001,052 432,282 15,469 20,611
36 684,669 499,510

923,872 569,943 5,147,444

309,924

1,607,787

(5,958)

$	1,911,753

Page 75

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.

English Language Learner - to account for monies received to provide for the incremental cost of instruction to English language learners.

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.

Title IV Grants - to account for financial assistance received for chemical abuse awareness programs and expanding projects that benefit educational and health needs of the communities.

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.

E-Rate - to account for financial assistance received for broadband internet and telecommunication 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.

Gifted - to account for financial assistance received for programs for gifted students.

College Credit Exam Incentives - to account for financial assistance received for college credit exams.

Results-based Funding - to account for financial assistance received for academic performance results in accordance with A.R.S. §15-249.08.

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.

Page 76

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 and activity related to monies collected in support of extracurricular activities to be taken as a tax credit by the tax payer in accordance with A.R.S. §43-1089.01.

Extracurricular Activities Fees Tax Credit - 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 A.R.S. §43-1089.01.

Gifts and Donations - to account for activity related to gifts, donations, bequests and private grants made to the District.

Fingerprint - to account for activity of fingerprinting employees as mandated by the State.

Insurance Proceeds - to account for the monies received from insurance claims.

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.

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.

Career Technical Education Fund – to account for monies received from Career Technical Education Districts for vocational education programs.

Student Activities - to account for monies raised by students to finance student clubs and organizations.

Page 77

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2020

ASSETS
Cash and investments
Due from governmental entities Prepaid items
Total assets

Classroom Site

$            522,895 90,072

$	612,967

Instructional Improvement

$              48,547 51,468

$	100,015

English Language Learner

$
170

$	170

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable	$	$	$
Due to other funds	170 Accrued payroll and employee benefits                                                     28,996
Total liabilities	28,996	170

Deferred inflows of resources:
Unavailable revenues - intergovernmental	170

Fund balances (deficits): Nonspendable Restricted
Unassigned
Total fund balances

583,971

583,971

100,015
(170) 100,015	(170)

Total liabilities, deferred inflows of resources
and fund balances	$	612,967	$	100,015	$	170

Page 78

Professional Development and Technology
Title I Grants	Grants

Special Education Grants

Vocational Education

State Vocational Education

College Credit Exam Incentives

$		$ 41,434

$	41,434	$

$		$ 35,752
5,682 41,434

$	$ 9,971                           25,074

9,971	$	25,074	$

$	$ 9,971                           25,074

9,971	25,074

$ 11,385

11,385	$

3,345	$ 5,420
2,620 11,385

$	28,776 2,191

2,191	$	28,776

$	2,066 2,191

2,191	2,066

1,130

(1,130) (1,130)

7,849

(7,849) (7,849)

10,204

(10,204) (10,204)

2,191

26,710 (2,191)
(2,191)	26,710

$	41,434	$	9,971	$	25,074	$	11,385	$	2,191	$	28,776

(Continued)

Page 79

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2020

ASSETS
Cash and investments
Due from governmental entities Prepaid items
Total assets

Results-based Funding

$	52,992

$	52,992

Other State Projects

$
550

$	550

Food Service

$	7,402

$	7,402

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable	$ Due to other funds
Accrued payroll and employee benefits Total liabilities

14,200	$		$ 550

14,200	550

Deferred inflows of resources:
Unavailable revenues - intergovernmental	550

Fund balances (deficits): Nonspendable Restricted
Unassigned
Total fund balances

38,792		7,402 (550)
38,792	(550)	7,402

Total liabilities, deferred inflows of resources
and fund balances	$	52,992	$	550	$	7,402

Page 80

Community Civic Center	School

Auxiliary Operations

Extracurricular Activities Fees
Tax Credit	Fingerprint	Textbooks

$	31,245	$

$	31,245	$

28,788	$

28,788	$

203,311	$

203,311	$

314,918	$

314,918	$

106	$	1,423

106	$	1,423

$	24,216	$	8,800	$	14,735	$	$	$

11,843	5,853 24,216	20,643                           14,735	5,853

7,029	8,145

7,029	8,145

188,576

188,576

309,065

309,065

106	1,423

106	1,423

$	31,245	$	28,788	$	203,311	$	314,918	$	106	$	1,423

(Continued)

Page 81

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2020

ASSETS
Cash and investments
Due from governmental entities Prepaid items
Total assets

Insurance Refund

$	8,424

$	8,424

Grants and Gifts to Teachers

$	43

$	43

Career Technical Education

$
24,929 3,675
$	28,604

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable                                                                       $                                    $                                    $                3,599 Due to other funds                                                                                                                                                                 10,915 Accrued payroll and employee benefits                                                                                                                                10,415 Total liabilities                                                                                                                                                                  24,929

Deferred inflows of resources:
Unavailable revenues - intergovernmental

Fund balances (deficits): Nonspendable Restricted
Unassigned
Total fund balances

3,675 8,424	43

8,424	43	3,675

Total liabilities, deferred inflows of resources
and fund balances	$	8,424	$	43	$	28,604

Page 82

Student Activities	Totals

$	84,444

$	84,444

$         1,333,314 257,244
3,675 $	1,594,233

$	$	70,961 90,043 65,409
226,413

22,094

3,675 84,444	1,364,145
(22,094) 84,444	1,345,726

$	84,444	$	1,594,233

Page 83

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Classroom Site

$                8,982 1,080,858

1,089,840

790,002 8,218

798,220

Instructional Improvement

$                   871 94,272

95,143

4,271 54,105 4,659

63,035

English Language Learner

$

3

3

Changes in fund balances

Fund balances (deficits), beginning of year, as restated

291,620	32,108	(3)

292,351	67,907	(167)

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	583,971	$	100,015	$	(170)

Page 84

Professional Development and Technology
Title I Grants	Grants	Title IV Grants

Special Education Grants

Vocational
Education	E-Rate

$	$	$	$	$	$

110,877                           25,580 110,877                           25,580

84,829
26,048	25,580

110,877	25,580

11,566                         491,987 11,566                         491,987

954                         321,825 2,391                           25,124

7,038

8,221
11,566	353,987

9,690                           10,712 9,690                           10,712

1,105 9,493 2,374
10,712

6,922
19,894	10,712

138,000	(10,204)

3,938	(1,130)	(145,849)	2,024

(3,938)	(2,024)

$	$	(1,130)	$	$	(7,849)	$	(10,204)	$

(Continued)

Page 85

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

State Vocational Education

$
23,178

23,178

College Credit Gifted	Exam Incentives

$	$
2,332	14,847

2,332	14,847

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

2,858                                  42                             2,066 6,793                             2,290                                400

13,642
23,293	2,332	2,466

Changes in fund balances

Fund balances (deficits), beginning of year, as restated

(115)	12,381

(2,076)	14,329

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(2,191)	$	$	26,710

Page 86

Results-based Funding

Other State Projects

Community Food Service	Civic Center	School

Auxiliary Operations

$		$ 136,465

136,465

$	345,815	$

161,208 507,023

19,330	$

19,330

393,372	$

393,372

299,345

299,345

64,557 29,321
2,200                                                                     132 868

502,182 4,146
96,078	507,328

40,387	(305)

24,215 24,215

(4,885)

194,356 19,447 223

182,487 1,920 398,433

(5,061)

262,031 56,597 5,881 1,826 36

21,989 348,360

(49,015)

(1,595)	(550)	7,707	11,914	13,206	237,591

$	38,792	$	(550)	$	7,402	$	7,029	$	8,145	$	188,576

(Continued)

Page 87

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

Fund balances (deficits), beginning of year, as restated

Extracurricular Activities Fees Tax Credit

$	382,536

382,536

138,092 158,778

41,353 338,223

44,313

289,707

Fingerprint

$	309

309

304

304

5

101

Textbooks

$	699

699

1,825

1,825

(1,126)

2,549

Increase (decrease) in reserve for prepaid items	(24,955)

Fund balances, end of year	$	309,065	$	106	$	1,423

Page 88

Grants and Gifts Insurance Refund	to Teachers

Career Technical
Education	Student Activities	Totals

$	152	$	1	$

152	1

104,890	$

104,890

56,971	$

56,971

1,613,273 1,351,952 821,620 3,786,845

90,644                           41,288 599                             7,098

167

8,756                                955 99,999                           49,508

2,001,052 432,282 15,469 20,611
36 684,669 132,119 3,286,238

152	1

8,272	42

4,891

(4,891)

7,463	500,607

76,981	872,361

3,675	(27,242)

$	8,424	$	43	$	3,675	$	84,444	$	1,345,726

Page 89

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Classroom Site

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$                                    $                8,982 1,080,858

1,089,840

Variance -Positive (Negative)

$                8,982 1,080,858

1,089,840

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

1,373,211

1,373,211

(1,373,211)

790,002 8,218

798,220

291,620

583,209 (8,218)

574,991

1,664,831

Fund balances (deficits), beginning of year, as restated	292,351	292,351

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(1,373,211)	$	583,971	$	1,957,182

Page 90

Instructional Improvement

Budget	Actual

Variance -Positive (Negative)

English Language Learner

Budget	Actual

Variance -Positive (Negative)

$	$		871	$	871	$	$	$ 94,272                           94,272

95,143	95,143

80,000

80,000

(80,000)

4,271	(4,271)	3	(3) 54,105                           25,895
4,659	(4,659)

63,035	16,965	3	(3)

32,108	112,108	(3)	(3)

67,907	67,907	(167)	(167)

$	(80,000)	$	100,015	$	180,015	$	$	(170)	$	(170)

(Continued)

Page 91

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Title I Grants

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$

110,877 110,877

Variance -Positive (Negative)

$

110,877 110,877

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

120,000

120,000

84,829 26,048

110,877

35,171 (26,048)

9,123

Changes in fund balances	(120,000)	120,000

Fund balances (deficits), beginning of year, as restated

Increase (decrease) in reserve for prepaid items

3,938

(3,938)

3,938

(3,938)

Fund balances (deficits), end of year	$	(120,000)	$	$	120,000

Page 92

Professional Development and Technology Grants	Title IV Grants

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

25,580                           25,580 25,580                           25,580

11,566                           11,566 11,566                           11,566

26,000	25,580

26,000	25,580

420	12,000

420	12,000

954                             (954) 2,391                             9,609

8,221                          (8,221) 11,566                                434

(26,000)	26,000	(12,000)	12,000

(1,130)	(1,130)

$	(26,000)	$	(1,130)	$	24,870	$	(12,000)	$	$	12,000

(Continued)

Page 93

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Special Education Grants

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$

491,987 491,987

Variance -Positive (Negative)

$

491,987 491,987

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

375,000

375,000

(375,000)

321,825 25,124

7,038

353,987

138,000

53,175 (25,124)

(7,038)

21,013

513,000

Fund balances (deficits), beginning of year, as restated	(145,849)	(145,849)

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(375,000)	$	(7,849)	$	367,151

Page 94

Vocational Education

Budget	Actual

Variance -Positive
(Negative)	Budget

E-Rate

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

9,690                             9,690 9,690                             9,690

10,712                           10,712 10,712                           10,712

1,105 20,000	9,493
2,374

6,922 20,000	19,894

(1,105) 10,507 (2,374)
25,000	10,712	14,288

(6,922)
106	25,000	10,712	14,288

(20,000)	(10,204)	9,796	(25,000)	25,000

2,024

(2,024)

2,024

(2,024)

$	(20,000)	$	(10,204)	$	9,796	$	(25,000)	$	$	25,000

(Continued)

Page 95

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Other Federal Projects

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$

Variance -Positive (Negative)

$

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

75,950	75,950

75,950	75,950

(75,950)	75,950

Fund balances (deficits), beginning of year, as restated

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(75,950)	$	$	75,950

Page 96

State Vocational Education

Budget	Actual

Variance -Positive
(Negative)	Budget

Gifted

Variance -Positive
Actual	(Negative)

$	$		$	$ 23,178                           23,178

$	$
2,332	2,332

23,178	23,178	2,332	2,332

2,858 25,000	6,793

13,642 25,000	23,293

(2,858) 18,207

(13,642) 1,707

42	(42) 2,000	2,290                             (290)

2,000	2,332	(332)

(25,000)	(115)	24,885	(2,000)	2,000

(2,076)	(2,076)

$	(25,000)	$	(2,191)	$	22,809	$	(2,000)	$	$	2,000

(Continued)

Page 97

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

College Credit Exam Incentives

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$
14,847

14,847

Variance -Positive (Negative)

$
14,847

14,847

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

17,000                             2,066                           14,934 400                             (400)

17,000	2,466	14,534

(17,000)	12,381	29,381

Fund balances (deficits), beginning of year, as restated	14,329	14,329

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(17,000)	$	26,710	$	43,710

Page 98

Results-based Funding

Budget	Actual

Variance -Positive (Negative)

Other State Projects

Budget	Actual

Variance -Positive (Negative)

$	$		$ 136,465

$	$	$ 136,465

136,465	136,465

134,000

134,000

(134,000)

64,557                           69,443 29,321                        (29,321) 2,200                          (2,200)

96,078	37,922

40,387	174,387

(1,595)	(1,595)	(550)	(550)

$	(134,000)	$	38,792	$	172,792	$	$	(550)	$	(550)

(Continued)

Page 99

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

School Plant

Non-GAAP Budget	Actual

$	$	6,388

6,388

Variance -Positive (Negative)

$	6,388

6,388

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

50,000

50,000

(50,000)

875	49,125

875	49,125

5,513	55,513

Fund balances (deficits), beginning of year, as restated	49,679	49,679

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(50,000)	$	55,192	$	105,192

Page 100

Food Service

Budget	Actual

Variance -Positive (Negative)

Civic Center

Budget	Actual

Variance -Positive (Negative)

$	$	345,815	$	345,815	$	$	19,330	$	19,330

161,208 507,023

161,208
507,023	19,330	19,330

132                             (132) 868                             (868)

525,000

525,000

(525,000)

502,182 4,146 507,328

(305)

22,818 (4,146) 17,672

524,695

50,000 50,000

(50,000)

24,215                           25,785 24,215                           25,785

(4,885)	45,115

7,707	7,707	11,914	11,914

$	(525,000)	$	7,402	$	532,402	$	(50,000)	$	7,029	$	57,029

(Continued)

Page 101

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Community School

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$	393,372

393,372

Variance -Positive (Negative)

$	393,372

393,372

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

300,000

300,000

(300,000)

194,356 19,447 223

182,487 1,920 398,433

(5,061)

105,644 (19,447) (223)

(182,487) (1,920) (98,433)

294,939

Fund balances (deficits), beginning of year, as restated	13,206	13,206

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(300,000)	$	8,145	$	308,145

Page 102

Auxiliary Operations	Extracurricular Activities Fees Tax Credit

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	299,345	$	299,345	$	$	382,536	$	382,536

299,345	299,345	382,536	382,536

500,000

500,000

(500,000)

262,031 56,597 5,881 1,826 36

21,989 348,360

(49,015)

237,969 (56,597) (5,881) (1,826) (36)

(21,989) 151,640

450,985

600,000

600,000

(600,000)

138,092 158,778

41,353 338,223

44,313

(138,092) 441,222

(41,353) 261,777

644,313

237,591	237,591	289,707	289,707

(24,955)	(24,955)

$	(500,000)	$	188,576	$	688,576	$	(600,000)	$	309,065	$	909,065

(Continued)

Page 103

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Gifts and Donations

Non-GAAP Budget	Actual

$	$	133,913

133,913

Variance -Positive (Negative)

$	133,913

133,913

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

200,000 200,000

(200,000)

25,503 30,853 2,943 5,000

942 62,269 127,510

6,403

(25,503) (30,853) (2,943) (5,000)

(942) 137,731 72,490

206,403

Fund balances (deficits), beginning of year, as restated

Increase (decrease) in reserve for prepaid items

107,994

(3,050)

107,994

(3,050)

Fund balances (deficits), end of year	$	(200,000)	$	111,347	$	311,347

Page 104

Fingerprint

Budget	Actual

Variance -Positive (Negative)

Insurance Proceeds

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	309	$	309	$	$	90	$	90

309	309	90	90

500	304	196	5,000	5,000

500	304	196	5,000	5,000

(500)	5	505	(5,000)	90	5,090

101	101	4,405	4,405

$	(500)	$	106	$	606	$	(5,000)	$	4,495	$	9,495

(Continued)

Page 105

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Textbooks

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$	699

699

Variance -Positive (Negative)

$	699

699

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

2,500

2,500

(2,500)

1,825	675

1,825	675

(1,126)	1,374

Fund balances (deficits), beginning of year, as restated	2,549	2,549

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(2,500)	$	1,423	$	3,923

Page 106

Litigation Recovery

Non-GAAP Budget	Actual

Variance -Positive (Negative)

Insurance Refund

Budget	Actual

Variance -Positive (Negative)

$	$	94	$	94	$	$	152	$	152

94	94	152	152

5,000	5,000

5,000	5,456	(456)

5,000	5,456	(456)	5,000	5,000

(5,000)	(5,362)	(362)	(5,000)	152	5,152

5,420	5,420	8,272	8,272

$	(5,000)	$	58	$	5,058	$	(5,000)	$	8,424	$	13,424

(Continued)

Page 107

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Grants and Gifts to Teachers

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$	1

1

Variance -Positive (Negative)

$	1

1

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances	1	1

Fund balances (deficits), beginning of year, as restated	42	42

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	$	43	$	43

Page 108

Advertisement

Non-GAAP Budget	Actual

Variance -Positive (Negative)

Career Technical Education

Budget	Actual

Variance -Positive (Negative)

$	$	19,057	$	19,057	$	$	104,890	$	104,890

19,057	19,057	104,890	104,890

1,000

1,000

(1,000)

11,536	(10,536) 881                             (881) 416                             (416)

12,833	(11,833)

6,224	7,224

200,000

200,000

(200,000)

90,644                         109,356 599                             (599)

8,756                          (8,756) 99,999                         100,001

4,891	204,891

7,798	7,798	(4,891)	(4,891)

3,675	3,675

$	(1,000)	$	14,022	$	15,022	$	(200,000)	$	3,675	$	203,675

(Continued)

Page 109

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2020

Student Activities

Revenues: Other local
State aid and grants
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$	$	56,971

56,971

Variance -Positive (Negative)

$	56,971

56,971

Expenditures: Current -
Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Total expenditures

Changes in fund balances

Fund balances (deficits), beginning of year, as restated

41,288                        (41,288) 7,098                          (7,098)

167	(167)

955                             (955) 49,508                        (49,508)

7,463	7,463

76,981	76,981

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	$	84,444	$	84,444

Page 110

Totals

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$                                    $         1,772,815 1,351,952
821,620 3,946,387

$         1,772,815 1,351,952 821,620 3,946,387

3,109,161 765,000 55,000 25,000

525,000 250,000 4,729,161

(4,729,161)

2,038,091 464,016 25,159 25,611
36 685,611 194,388 3,432,912

513,475

1,071,070 300,984 29,841 (611) (36) (160,611) 55,612 1,296,249

5,242,636

1,047,657

(30,292)

1,047,657

(30,292)

$	(4,729,161)	$	1,530,840	$	6,260,001

Page 111

(This page intentionally left blank)

Page 112

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.

Page 113

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR DEBT SERVICE FUND YEAR ENDED JUNE 30, 2020

Debt Service

Revenues: Other local Property taxes
Federal aid, grants and reimbursements Total revenues

Budget	Actual

$                                    $                8,665 1,181,187
85,647 1,275,499

Variance -Positive (Negative)

$                8,665 1,181,187 85,647 1,275,499

Expenditures: Debt service -
Principal retirement Interest and fiscal charges
Total expenditures

Changes in fund balances

740,000 960,000 1,700,000

(1,700,000)

740,000 520,746 1,260,746

14,753

439,254 439,254

1,714,753

Fund balances, beginning of year	217,285	217,285

Fund balances (deficits), end of year	$	(1,700,000)	$	232,038	$	1,932,038

Page 114

CAPITAL PROJECTS FUNDS

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.

Gifts and Donations - Capital - to account for gifts and donations to be expended for capital acquisitions.

Condemnation - to account for monies received from proceeds from sales by condemnation or right-of-way settlements.

Emergency Deficiencies Correction - to account for monies received from the School Facilities Board that are used to correct deficiencies in square footage and in quality of facilities and equipment.

Building Renewal Grant - to account for building renewal grant monies requested 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 that are used to purchase land, to construct new school buildings, and related architectural and engineering fees.

Page 115

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR CAPITAL PROJECTS FUNDS
JUNE 30, 2020

ASSETS
Cash and investments Property taxes receivable
Due from governmental entities Prepaid items
Total assets

Unrestricted Capital Outlay

$              40,806 1,595
97,257 28,564
$	168,222

Adjacent Ways

$	245,264

$	245,264

Gifts and Donations -Capital

$	700

$	700

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable	$	1,586	$	$ Construction contracts payable                                                                  31,195                           45,882
Total liabilities	32,781	45,882

Deferred inflows of resources:
Unavailable revenues - property taxes	1,595

Fund balances: Nonspendable Restricted
Total fund balances

28,564 105,282 133,846

199,382                                700 199,382                                700

Total liabilities, deferred inflows of resources
and fund balances	$	168,222	$	245,264	$	700

Page 116

Emergency Deficiencies
Condemnation	Correction

New School
Facilities	Totals

$	23	$	3	$	35	$

$	23	$	3	$	35	$

286,831 1,595 97,257 28,564 414,247

$	$	$	$	 1,586 77,077 78,663

1,595

28,564 23	3	35	305,425 23	3	35	333,989

$	23	$	3	$	35	$	414,247

Page 117

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -NON-MAJOR CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2020

Revenues: Other local Property taxes
State aid and grants Total revenues

Expenditures: Capital outlay Debt service -
Principal retirement Interest and fiscal charges
Total expenditures

Changes in fund balances

Fund balances, beginning of year

Unrestricted Capital Outlay

$              25,732 2,034
362,994 390,760

321,509

183,872 49,197 554,578

(163,818)

276,380

Adjacent Ways

$	4,249

4,249

45,882

45,882

(41,633)

241,015

Gifts and Donations -Capital

$	14

14

14

686

Increase (decrease) in reserve for prepaid items	21,284

Fund balances, end of year	$	133,846	$	199,382	$	700

Page 118

Emergency Deficiencies
Condemnation	Correction

New School
Facilities	Totals

$                                    $                                    $                       1           $              29,996 2,034
362,994 1	395,024

367,391

183,872 49,197 600,460

1	(205,436)

23	3	34	518,141

21,284

$	23	$	3	$	35	$	333,989

Page 119

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2020

Unrestricted Capital Outlay

Revenues: Other local Property taxes
State aid and grants Total revenues

Budget	Actual

$                                    $              25,732 2,034
362,994 390,760

Variance -Positive (Negative)

$              25,732 2,034
362,994 390,760

Expenditures: Capital outlay Debt service -
Principal retirement Interest and fiscal charges
Total expenditures

Changes in fund balances

373,266

183,872 49,197 606,335

(606,335)

321,509

183,872 49,197 554,578

(163,818)

51,757

51,757

442,517

Fund balances (deficits), beginning of year

Increase (decrease) in reserve for prepaid items

276,380

21,284

276,380

21,284

Fund balances (deficits), end of year	$	(606,335)	$	133,846	$	740,181

Page 120

Adjacent Ways

Budget	Actual

Variance -Positive (Negative)

Gifts and Donations - Capital

Budget	Actual

Variance -Positive (Negative)

$	$	4,249	$	4,249	$	$	14	$	14

4,249	4,249	14	14

45,883	45,882	1

45,883	45,882	1

(45,883)	(41,633)	4,250	14	14

241,015	241,015	686	686

$	(45,883)	$	199,382	$	245,265	$	$	700	$	700

(Continued)

Page 121

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2020

Condemnation

Revenues: Other local Property taxes
State aid and grants Total revenues

Budget	Actual

$	$

Variance -Positive (Negative)

$

Expenditures: Capital outlay Debt service -
Principal retirement Interest and fiscal charges
Total expenditures

Changes in fund balances

Fund balances (deficits), beginning of year	23	23

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	$	23	$	23

Page 122

Emergency Deficiencies Correction	Building Renewal Grant

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

1,399,437 1,399,437

1,399,437 1,399,437

1,700,000

1,700,000

(1,700,000)

22,978

22,978

1,376,459

1,677,022

1,677,022

3,076,459

3	3	(1,384,175)	(1,384,175)

$	$	3	$	3	$	(1,700,000)	$	(7,716)	$	1,692,284

(Continued)

Page 123

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2020

New School Facilities

Revenues: Other local Property taxes
State aid and grants Total revenues

Budget	Actual

$	$	1

1

Variance -Positive (Negative)

$	1

1

Expenditures: Capital outlay Debt service -
Principal retirement Interest and fiscal charges
Total expenditures

Changes in fund balances	1	1

Fund balances (deficits), beginning of year	34	34

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	$	35	$	35

Page 124

Totals

Budget	Actual

Variance -Positive (Negative)

$                                    $              29,996 2,034
1,762,431 1,794,461

$              29,996 2,034
1,762,431 1,794,461

2,119,149

183,872 49,197 2,352,218

(2,352,218)

390,369

183,872 49,197 623,438

1,171,023

1,728,780

1,728,780

3,523,241

(866,034)

21,284

(866,034)

21,284

$	(2,352,218)	$	326,273	$	2,678,491

Page 125

(This page intentionally left blank)

Page 126

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.

Note: For locally assessed property (i.e., excluding mines, utilities, etc.) Proposition 117, approved by voters in 2012, amended the Arizona Constitution to require that all property taxes after fiscal year 2014-15 be based upon property values limited to five percent in annual growth. The aggregate assessed value of all taxable properties within a taxing jurisdiction (i.e., after applying assessment ratios based on the use of a property), including property values with a growth limit, is currently referred to as net limited assessed value and formerly as primary assessed value. In accordance with Proposition 117, this value is used for all taxing purposes beginning fiscal year 2015-16. Aggregate assessed value without a growth limit is currently referred to as net full cash assessed value and formerly as secondary assessed value. This remains the value utilized for determining debt capacity limits.

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Page 128

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NET POSITION BY COMPONENT LAST TEN FISCAL YEARS (Accrual basis of accounting)

Fiscal Year Ended June 30

Net Position:

Net investment in capital assets Restricted
Unrestricted Total net position

Net Position:
Net investment in capital assets Restricted
Unrestricted Total net position

2020

$       14,797,848 2,047,215
(10,798,944) $	6,046,119

2015

$       13,236,747 1,526,552
(11,505,564) $	3,257,735

2019

$       14,622,454 1,716,069
(11,674,011) $	4,664,512

2014

$	13,790,926 1,460,282 2,272,614
$	17,523,822

2018

$       13,123,724 1,405,612
(12,144,828) $	2,384,508

2013

$	13,587,558 1,542,118 2,730,800
$	17,860,476

2017

$       12,982,690 849,448
(12,518,035) $	1,314,103

2012

$	13,927,904 1,485,356 3,885,916
$	19,299,176

2016

$       13,018,852 1,482,005
(12,952,805) $	1,548,052

2011

$	10,685,283 1,677,711 4,556,263
$	16,919,257

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

Note: The provisions of Governmental Accounting Standards Board (GASB) Statement No. 68 were adopted in fiscal year 2015. The standard required the recognition of net pension liabilities which resulted in decreases in the unrestricted net position at fiscal year end.

Page 129

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 EXPENSES, PROGRAM REVENUES, AND NET (EXPENSE)/REVENUE
LAST TEN FISCAL YEARS (Accrual basis of accounting)

Fiscal Year Ended June 30

Expenses Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Interest on long-term debt
Total expenses

2020

$       10,914,511 1,823,826 2,306,272 2,115,899 644,109 774,410 569,943 19,148,970

2019

$         9,969,533 1,661,032 2,354,152 1,943,774 804,490 798,546 606,992 18,138,519

2018

$         9,897,639 1,937,400 2,086,324 1,754,369 656,731 742,609 637,043 17,712,115

2017

$         9,324,714 1,698,074 2,145,503 1,738,247 669,216 945,803 659,885 17,181,442

2016

$       10,021,236 1,584,374 2,234,179 1,535,988 501,094 873,531 666,341 17,416,743

Program Revenues Charges for services:
Instruction
Operation of non-instructional services Other activities
Operating grants and contributions Capital grants and contributions
Total program revenues

573,345 638,825 24,368 1,510,332 72,646 2,819,516

556,208 673,389 79,659 1,563,682 1,377,681 4,250,619

527,338 587,063 42,414 1,644,495 102,690 2,904,000

729,098 941,811 58,618 1,083,363 32,980 2,845,870

659,322 927,073 9,319 846,658 95,214 2,537,586

Net (Expense)/Revenue	$	(16,329,454)	$	(13,887,900)	$	(14,808,115)	$	(14,335,572)	$	(14,879,157)

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

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)

Page 130

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 EXPENSES, PROGRAM REVENUES, AND NET (EXPENSE)/REVENUE
LAST TEN FISCAL YEARS (Accrual basis of accounting)

Fiscal Year Ended June 30

Expenses Instruction
Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Interest on long-term debt
Total expenses

2015

$         9,957,570 1,243,850 2,069,735 1,639,384 704,817 852,547 661,261 17,129,164

2014

$         9,366,070 1,071,992 2,014,582 1,501,218 664,236 767,742 682,186 16,068,026

2013

$         8,767,736 1,090,665 1,901,848 1,356,566 658,550 735,868 702,586 15,213,819

2012

$         7,987,861 1,164,971 1,948,137 1,532,044 731,315 758,700 723,586 14,846,614

2011

$         7,352,384 1,128,476 1,901,768 1,164,884 710,209 651,310 932,029 13,841,060

Program Revenues Charges for services:
Instruction
Operation of non-instructional services Other activities
Operating grants and contributions Capital grants and contributions
Total program revenues

734,265 1,024,731 7,133 786,528 48,736 2,601,393

450,877 793,597 9,281 963,876 35,314 2,252,945

498,080 754,893 20,507 805,290 63,798 2,142,568

399,354 719,384 24,632 1,257,574 3,814,031 6,214,975

506,574 690,668 275 1,256,895 27,437 2,481,849

Net (Expense)/Revenue	$	(14,527,771)	$	(13,815,081)	$	(13,071,251)	$	(8,631,639)	$	(11,359,211)

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

(Concluded)

Page 131

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 GENERAL REVENUES AND TOTAL CHANGES IN NET POSITION
LAST TEN FISCAL YEARS (Accrual basis of accounting)

Fiscal Year Ended June 30

2020	2019	2018	2017	2016

Net (Expense)/Revenue	$	(16,329,454)	$	(13,887,900)	$	(14,808,115)	$	(14,335,572)	$     (14,879,157)

General Revenues: Taxes:
Property taxes, levied for general purposes Property taxes, levied for debt service Property taxes, levied for capital outlay
Investment income Unrestricted county aid Unrestricted state aid
Total general revenues

7,386,060 1,196,471

49,586 452,769 8,548,629 17,633,515

6,669,995 1,084,397 400,737 45,840 440,970 7,525,965 16,167,904

6,681,968 1,165,152 598,655 30,270 441,925 6,915,326 15,833,296

7,000,432 158,718

25,268 414,860 6,416,947 14,016,225

6,026,983 1,135,210 147,642 16,399 402,109 6,323,234 14,051,577

Changes in Net Position	$	1,304,061	$	2,280,004	$	1,025,181	$	(319,347)	$	(827,580)

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

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)

Page 132

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 GENERAL REVENUES AND TOTAL CHANGES IN NET POSITION
LAST TEN FISCAL YEARS (Accrual basis of accounting)

Fiscal Year Ended June 30

2015	2014	2013	2012	2011

Net (Expense)/Revenue	$	(14,527,771)	$	(13,815,081)	$	(13,071,251)	$	(8,631,639)	$     (11,359,211)

General Revenues: Taxes:
Property taxes, levied for general purposes Property taxes, levied for debt service Property taxes, levied for capital outlay
Investment income Unrestricted county aid Unrestricted state aid Unrestricted federal aid
Total general revenues

5,311,469 930,045 51,070 11,058 466,615 6,569,926

13,340,183

5,676,670 937,675 14,205 12,343 479,603 6,357,931

13,478,427

5,067,886 1,005,109 14,862 30,630 336,894 5,177,170

11,632,551

5,084,933 1,031,717 117 24,835 244,435 4,625,521

11,011,558

4,619,548 1,172,518 2,965 46,539 202,339 4,491,717 340,643 10,876,269

Changes in Net Position	$	(1,187,588)	$	(336,654)	$	(1,438,700)	$	2,379,919	$	(482,942)

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

(Concluded)

Page 133

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 FUND BALANCES - GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

Fiscal Year Ended June 30

General Fund: Nonspendable Unassigned

2020

$		56,690	$ 2,880,853

2019

27,129	$ 2,078,216

2018

$ 2,411,909

2017

$ 2,461,754

2016

1,764,369

Total General Fund	 $	2,937,543   $	2,105,345   $	2,411,909   $	2,461,754   $	1,764,369 

All Other Governmental Funds: Nonspendable
Restricted Unassigned
Total all other governmental funds

$		32,239	$ 1,901,608
(29,810)
$	1,904,037	$

38,197	$ 1,648,867
(1,540,433) 146,631	$

48,805	$ 1,331,552
(312,809) 1,067,548	$

$ 849,448
(158,902) 690,546	$

1,447,160 (27,721)
1,419,439

(Continued)

Page 134

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 FUND BALANCES - GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

General Fund: Nonspendable Unassigned
Total General Fund

All Other Governmental Funds: Restricted
Unassigned
Total all other governmental funds

2015

$		$ 2,316,261
$	2,316,261	$

$	1,512,128	$ (89,656)
$	1,422,472	$

2014

$ 2,474,660 2,474,660	$

1,448,527	$ (101,347)
1,347,180	$

2013

$ 2,495,796 2,495,796	$

1,527,268	$

1,527,268	$

2012

$ 3,707,704 3,707,704	$

1,468,385	$

1,468,385	$

2011

203,440 4,616,782 4,820,222

4,107,461

4,107,461

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

(Concluded)

Page 135

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 GOVERNMENTAL FUNDS REVENUES LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

Fiscal Year Ended June 30

Federal sources: Federal grants
National School Lunch Program Total federal sources
State sources:
State equalization assistance State grants
School Facilities Board Other revenues
Total state sources Local sources:
Property taxes County aid
Food service sales Investment income Other revenues
Total local sources Total revenues

2020

$	 746,059	$ 161,208 907,267

7,373,499 176,822 1,399,437 1,175,130 10,124,888

8,445,144 452,769 344,221 49,586 1,400,915 10,692,635
$	21,724,790	$

2019

627,782	$ 162,332 790,114

6,377,768 37,115

1,148,197 7,563,080

8,180,770 440,970 392,185 45,840 1,722,061 10,781,826
19,135,020	$

2018

574,897	$ 191,751 766,648

5,864,154 270,653

1,052,112 7,186,919

8,421,511 441,925 356,733 30,270 1,247,165 10,497,604
18,451,171	$

2017

715,129 224,829 939,958

5,509,587 23,539

907,360 6,440,486

7,215,838 414,860 357,290 25,268 1,491,086 9,504,342 16,884,786

2016

$	616,727 211,419 828,146

5,307,077 25,250 8,417 1,016,157 6,356,901

7,215,407 402,109 347,041 16,399 1,328,732 9,309,688
$	16,494,735

(Continued)

Page 136

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 GOVERNMENTAL FUNDS REVENUES LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

Federal sources: Federal grants
State Fiscal Stabilization (ARRA) Education Jobs
National School Lunch Program Total federal sources
State sources:
State equalization assistance State grants
School Facilities Board Other revenues
Total state sources Local sources:
Property taxes County aid
Food service sales Investment income Other revenues
Total local sources Total revenues

2015

$	592,537	$

192,259 784,796

5,809,987 10,860

798,610 6,619,457

6,637,180 466,615 330,297 11,038 1,436,789 8,881,919
$	16,286,172	$

2014

666,289	$

195,319 861,608

5,541,143 5,638

816,788 6,363,569

6,537,158 479,603 344,596 12,343 932,159 8,305,859
15,531,036	$

2013

627,299	$

183,383 810,682

4,671,239 1,024 57,382 505,931 5,235,576

6,094,262 336,894 355,780 30,630 917,700 7,735,266
13,781,524	$

2012

803,248

150,475 150,126 1,103,849

4,119,965 10,687 3,799,345 505,556 8,435,553

5,865,771 244,435 350,232 24,835 950,862 7,436,135 16,975,537

2011

$         1,393,012 85,945

139,300 1,618,257

4,066,132 558,364

1,956 4,626,452

5,794,132 202,339 362,348 46,539 835,169 7,240,527
$	13,485,236

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

(Concluded)

Page 137

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

Fiscal Year Ended June 30

2020	2019	2018	2017	2016

Expenditures: Current -
Instruction

Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Debt service -

Interest and fiscal charges Principal retirement
Total expenditures

Expenditures for capitalized assets

$	10,210,910	$ 1,762,682 2,150,385 1,736,974
552,042 744,770 584,757

569,943 923,872
$	19,236,335	$

$	178,715	$

9,738,592	$ 1,733,802 2,364,181 1,663,898
665,112 789,213 2,052,317

606,992 901,911
20,516,018	$

1,593,498	$

9,351,122 1,947,450 2,002,160 1,717,600 544,254 706,785 705,582

637,043 832,992 18,444,988

320,727

$         8,420,627        $ 1,641,512 2,053,271 1,685,755
590,594 911,093 491,841

659,885 753,170
$	17,207,748	$

$	235,619	$

9,079,366 1,547,524 2,109,302 1,498,913 412,740 839,515 678,333

666,341 630,626 17,462,660

479,189

Debt service as a percentage of

noncapital expenditures	8%	8%	8%	8%	8%

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

(Continued)

Page 138

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 GOVERNMENTAL FUNDS EXPENDITURES AND DEBT SERVICE RATIO LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

Fiscal Year Ended June 30

2015	2014	2013	2012	2011

Expenditures: Current -
Instruction

Support services - students and staff Support services - administration
Operation and maintenance of plant services Student transportation services
Operation of non-instructional services Capital outlay
Debt service -

Interest and fiscal charges Principal retirement
Total expenditures

Expenditures for capitalized assets

$          8,820,174 1,192,583 1,960,115 1,583,821 597,598
827,763 175,964

661,261 550,000
$	16,369,279

$	41,839

$	 8,611,301	$ 1,050,679 1,902,719 1,456,686
587,749 754,904 161,036

682,186 525,000
$	15,732,260	$

$	91,413	$

8,077,648 1,081,336 1,781,396 1,320,272 577,018 713,944 170,349

702,586 510,000 14,934,549

148,442

$          7,246,054 1,142,045 1,833,652 1,288,065 631,667
734,828 6,503,794

723,586 420,000
$	20,523,691

$	6,378,149

$          6,789,084 1,095,676 1,761,103 1,210,658 618,369
632,312 11,928,973

932,029 210,000
$	25,178,204

$	11,770,328

Debt service as a percentage of

noncapital expenditures	7%	8%	8%	8%	9%

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

(Concluded)

Page 139

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

OTHER FINANCING SOURCES AND USES AND NET CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (Modified accrual basis of accounting)

Fiscal Year Ended June 30

2020	2019	2018	2017	2016

Excess (deficiency) of

revenues over expenditures	$	2,488,455	$	(1,380,998)	$	6,183	$	(322,962)	$	(967,925)

Other financing sources (uses): Capital lease agreements Transfers in
Transfers out Insurance Recoveries
Total other financing sources (uses)

136,996 260
(260)

136,996

216,295 2,500
(2,500) 12,629
228,924

172,059 204,286 (204,286)
33,997

206,056

413,000

413,000

Changes in fund balances	$	2,488,455	$	(1,244,002)	$	235,107	$	(116,906)	$	(554,925)

2015	2014	2013	2012	2011

Excess (deficiency) of

revenues over expenditures	$	(83,107)	$	(201,224)	$	(1,153,025)	$	(3,548,154)	$	(11,692,968)

Other financing sources (uses): Transfers in
Transfers out

Total other financing sources (uses)

1,684

(1,684)

5,702

(5,702)

16,805

(16,805)

Changes in fund balances	$	(83,107)	$	(201,224)	$	(1,153,025)	$	(3,548,154)	$	(11,692,968)

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

Page 140

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

NET LIMITED ASSESSED VALUE AND FULL CASH VALUE OF TAXABLE PROPERTY BY CLASS LAST TEN FISCAL YEARS

Fiscal Year

Class	2020	2019	2018	2017	2016

Commercial, Industrial, Utilities and Mining Agricultural and Vacant
Residential (Owner Occupied) Residential (Rental)
Historical Property

Total

$	 9,119,098	$ 14,307,820
154,023,165 19,956,334 58,265

$	197,464,682	$

9,027,166	$ 16,235,235
146,489,176 19,102,134 56,408

190,910,119	$

8,260,222	$ 17,442,233
140,542,386 17,950,652 56,882

184,252,375	$

8,979,496	$ 17,900,204
136,891,998 16,851,329 56,506

180,679,533	$

6,952,635 19,319,855 130,843,020 16,143,404 55,132

173,314,046

Gross Full Cash Value

Ratio of Net Limited Assessed Value to Gross Full Cash Value

Total Direct Rate

$ 2,062,845,194

10%

5.40

$ 2,010,534,115

9%

5.42

$ 1,948,672,789

9%

5.76

$ 1,951,500,164

9%

5.23

$ 1,790,361,226

10%

5.30

Fiscal Year

Class	2015	2014	2013	2012	2011

Commercial, Industrial, Utilities and Mining Agricultural and Vacant
Residential (Owner Occupied) Residential (Rental)
Historical Property

Total

$	 6,681,647	$ 20,147,121
128,288,690 13,509,506 53,963

$	168,680,927	$

6,174,230	$ 21,481,242
134,604,074 7,841,097 51,706

170,152,349	$

6,167,792	$ 24,784,313
145,580,914 7,546,474 55,623

184,135,116	$

6,240,606	$ 27,443,331
161,144,061 4,498,664 57,482

199,393,579	$

6,150,101 29,604,611 179,734,775 4,792,568 59,414

220,341,469

Gross Full Cash Value

Ratio of Net Limited Assessed Value to Gross Full Cash Value

Total Direct Rate

$ 1,721,553,223

10%

5.03

$ 1,728,748,371

10%

5.00

$ 1,861,329,633

10%

4.15

$ 2,003,464,671

10%

3.80

$ 2,235,227,040

10%

3.35

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

Note: On November 6, 2012, voters approved Proposition 117, an amendment to the Arizona Constitution. Beginning with Tax Year 2015 (Fiscal Year 2016), both primary and secondary taxes are levied against the net limited assessed value. Primary taxes are used for general District operations. Secondary taxes are used to service District bonded debt requirements and other voter-approved overrides.

Page 141

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

NET FULL CASH ASSESSED VALUE OF TAXABLE PROPERTY BY CLASS LAST TEN FISCAL YEARS

Fiscal Year

Class	2020	2019	2018	2017	2016

Commercial, Industrial, Utilities and Mining Agricultural and Vacant
Residential (Owner Occupied) Residential (Rental)
Historical Property

Total

Gross Full Cash Value

$	 9,247,052     $ 15,095,820
158,619,036 20,805,732 58,499

$	203,826,139     $

$     2,062,845,194     $

9,149,916     $ 16,926,999
150,781,361 19,962,110 56,408

196,876,794     $

2,010,534,115     $

8,292,720     $ 18,085,076
145,543,278 18,698,741 56,882

190,676,697     $

1,948,672,789     $

9,126,623     $ 18,304,844
146,065,495 18,063,663 58,174

191,618,799     $

1,951,500,164     $

6,979,059 19,634,181 132,786,136 16,499,727 55,132

175,954,235

1,790,361,226

Ratio of Net Full Cash Assessed Value to Gross Full Cash Value Estimated Net Full Cash Value
Total Direct Rate

10% 1,897,922,280
5.40

10% 1,816,489,627
5.42

10% 1,754,806,269
5.76

10% 1,761,733,686
5.23

10% 1,592,380,593
5.30

Fiscal Year

Class	2015	2014	2013	2012	2011

Commercial, Industrial, Utilities and Mining Agricultural and Vacant
Residential (Owner Occupied) Residential (Rental)
Historical Property

Total

Gross Full Cash Value

$	 6,691,415     $ 20,403,238
128,424,010 13,647,729 53,963

$	169,220,355     $

$     1,721,553,223     $

6,306,055     $ 21,681,196
134,725,227 7,944,854 52,419

170,709,751     $

1,728,748,371     $

6,183,034     $ 25,334,411
145,689,889 7,614,102 56,623

184,878,059     $

1,861,329,633     $

6,334,940     $ 28,827,259
161,412,859 4,506,267 66,917

201,148,242     $

2,003,464,671     $

6,371,777 34,734,376 181,495,989 4,846,850 60,029

227,509,021

2,235,227,040

Ratio of Net Full Cash Assessed Value to Gross Full Cash Value Estimated Net Full Cash Value
Total Direct Rate

10% 1,522,842,039
5.03

10% 1,535,270,185
5.00

10% 1,661,944,889
4.15

10% 1,814,293,135
3.80

10% 2,055,576,149
3.35

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

Note: On November 6, 2012, voters approved Proposition 117, an amendment to the Arizona Constitution. Beginning with Tax Year 2015 (Fiscal Year 2016), both primary and secondary taxes are levied against the net limited assessed value. The net full cash assessed value is used for determining the District's bonding capacity and as the ceiling for net limited assessed value.

Page 142

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 PROPERTY TAX ASSESSMENT RATIOS LAST TEN FISCAL YEARS

Fiscal Year

Class	2020	2019	2018	2017	2016

Commercial, Industrial, Utilities and Mining Agricultural and Vacant
Residential (Owner Occupied) Residential (Rental)
Railroad, Private Cars and Airlines

18 %	18 %	18 %	18 %	19 % 15	15	15	15	16
10                       10                       10                      10                      10 10                       10                       10                      10                      10
15	14	15	14	15

Fiscal Year

Class	2015	2014	2013	2012	2011

Commercial, Industrial, Utilities and Mining Agricultural and Vacant
Residential (Owner Occupied) Residential (Rental)
Railroad, Private Cars and Airlines

19 %	20 %	20 %	20 %	21 % 16	16	16	16	16
10                       10                       10                      10                      10 10                       10                       10                      10                      10
16	15	15	15	17

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

Note: Additional classes of property exist, but do not amount to a significant portion of the District's total valuation, therefore they are not included on this schedule.

Page 143

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 DIRECT AND OVERLAPPING PROPERTY TAX RATES LAST TEN FISCAL YEARS

Overlapping Rates

Fiscal Year
Ended	State

County	Flood Free            Control

Community College

Fire District

Central Arizona

City	Pima	Tanque	District Direct Rates of              County             Verde

June 30 Equalization	County

2020	0.46	4.69 2019	0.47	4.76 2018	0.49	5.16 2017	0.50	4.99 2016	0.51	5.09 2015	0.51	4.98 2014	0.51	4.45 2013	0.47	4.20 2012	0.43	4.20
2011	0.36	4.06

Library

0.54 0.52 0.51 0.52 0.52 0.44 0.38 0.35 0.35
0.31

District

0.33 0.33 0.31 0.33 0.31 0.30 0.26 0.26 0.26
0.26

District

1.38 1.40 1.39 1.37 1.37 1.33 1.29 1.17 1.11
1.08

Assistance

0.04 0.04 0.05 0.05 0.05 0.05 0.05 0.04 0.04
0.04

Water	Tucson

0.14	1.38 0.14	1.48 0.14	1.43 0.14	1.60 0.14	1.60 0.14	1.46 0.14	1.43 0.10	1.26 0.10	1.16
0.10	0.96

JTED	Valley F.D.

0.05	1.37 0.05	1.30 0.05	1.90 0.05	1.20 0.05	1.06 0.05	1.00 0.05	1.41 0.05	1.26 0.05	1.15
0.05	1.27

Primary

3.87 3.92 4.23 4.22 3.72 3.89 3.80 3.00 2.72
2.37

Secondary	Total

1.53	5.40 1.50	5.42 1.53	5.76 1.01	5.23 1.58	5.30 1.14	5.03 1.20	5.00 1.15	4.15 1.08	3.80
0.98	3.35

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

Page 144

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 PRINCIPAL PROPERTY TAXPAYERS
CURRENT FISCAL YEAR AND FISCAL YEAR NINE YEARS PRIOR

2020
Percentage of District's Net

2011
Percentage of District's Net

Net Limited Assessed
Taxpayer	Valuation

Limited Assessed Valuation

Net Full Cash Assessed Valuation

Full Cash Assessed Valuation

Unisource Energy Group Southwest Gas Company Arizona Sunshine Ranches Landmark Title - TR 18152 Galiuro TR

$	 4,152,389 2,660,763 1,129,355
525,968 453,879

2.10     % $	% 1.35                           2,206,838                     0.97 0.57                           3,685,646                     1.62 0.27
0.23

Schifman Ronald Bruce & Stolov Sheila D Revoc TR MPL Communications Inc
Qwest Communications
Mackey Chris A & Mackey Janet K JT/RS Macco LLC
Tucson Electric Power 49er Country Club Private Individual Private Individual Private Individual

449,022	0.23 383,093	0.19 352,452	0.18 331,845	0.17 301,853	0.15

728,029                     0.32 3,253,379                     1.43

2,957,617	1.30 455,018	0.20 386,765	0.17 273,011	0.12 273,011	0.12

Private Individual
$	10,740,619

250,260	0.11 5.45     %	$	14,469,574	6.36 %

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

Note: On November 6, 2012, voters approved Proposition 117, an amendment to the Arizona Constitution. Beginning with Tax Year 2015 (Fiscal Year 2016), both primary and secondary taxes are levied against the net limited assessed value.

Page 145

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS

Fiscal

Year	Taxes Levied

Ended	for the

Collected within the Fiscal Year of the Levy

Percentage

Collections in

Subsequent

Collected to the End

of the Current Fiscal Year

Percentage

June 30	Fiscal Year	Amount	of Levy	Fiscal Years	Amount(2)	of Levy

2020	$	8,514,276 2019                       8,155,327 2018                       8,503,666 2017                       7,279,090 2016                       7,281,966 2015                       6,566,441 2014                       6,614,750 2013                       6,005,212 2012                       5,929,011
2011	5,814,400

$      8,348,373                    98.05 % 8,029,961                    98.46 8,352,798                    98.23 7,100,175                    97.54 7,069,703                    97.09 6,358,769                    96.84 6,360,489                    96.16 5,788,261                    96.39 5,711,044                    96.32
5,595,553	96.24

N/A 115,904 142,918 147,971 202,503 202,737 240,969 209,077 216,370
217,813

$      8,348,373                      98.05 % 8,145,865                      99.88 8,495,716                      99.91 7,248,146                      99.57 7,272,206                      99.87 6,561,506                      99.92 6,601,458                      99.80 5,997,338                      99.87 5,927,414                      99.97
5,813,366	99.98

Source: The source of this information is the 2020 Pima County Treasurer's records. Notes: 1) Amounts collected are on a cash basis.
2) Unsecured personal property taxes are not included in this schedule because the dates of the monthly rolls vary each year. On the average, 90% of unsecured property taxes are collected within 90 days after the due date.

Page 146

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS

Fiscal
Year	General

Less: Amounts

General Obligation Bonds Percentage of
Estimated

Total Outstanding Debt Percentage of
Estimated	Percentage of

Ended	Obligation June 30           Bonds

Restricted

for Principal

Actual Value	Per Total	(Full Cash Value)               Capita

Capital

Leases

Actual Value	Per Total	(Full Cash Value)              Capita

Personal Income

2020	$ 8,450,000 2019              9,190,000 2018              9,910,000 2017            10,585,000 2016            11,210,000 2015            11,785,000 2014            12,335,000 2013            13,370,000 2012            13,790,000 2011            14,000,000

$	 345,406 229,722 225,417 124,157 811,536 782,653 853,522 914,438 890,156 776,359

8,104,594 8,960,278 9,684,583 10,460,843 10,398,464 11,002,347 11,481,478 12,455,562 12,899,844 13,223,641

0.39 %	$	666 0.45                            543 0.50                            692 0.54                            747 0.58                            743 0.64                            786 0.66                            820 0.67                            890 0.64                            921 0.59                            945

$ 1,112,882 1,296,754 1,341,669 1,283,366 1,239,477

$	 9,562,882 10,486,754 11,251,669 11,868,366 12,449,477 11,785,000 12,335,000 13,370,000 13,790,000 14,000,000

0.46 %	$	786	N/A % 0.52                            636                       0.02 0.58                            804                       0.03 0.61                            848                       0.03 0.70                            889                       0.03 0.68                            842                       0.03 0.71                            881                       0.03 0.72                            955                       0.04 0.69                            985                       0.04 0.63                         1,000                       0.04

Source: The source of this information is the District's financial records. Note: N/A indicates that the information is not available.

Page 147

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
JUNE 30, 2020

Debt Governmental Unit	Outstanding

Estimated Percentage Applicable to School District

Estimated Amount Applicable to School District

Overlapping: Pima County
Pima Community College District City of Tucson
Subtotal, Overlapping Debt

$      797,572,871 57,415,000 795,516,199

2.42 %       $     19,301,263 2.42                     1,389,443 5.93                   47,174,111 67,864,817

Direct:

Tanque Verde Unified School District No. 13	100.00	9,562,882

Total Direct and Overlapping Governmental Activities Debt	$	77,427,699

DIRECT AND OVERLAPPING GENERAL BONDED DEBT RATIOS

Net Direct General Obligation Bonded Debt

As a Percentage of Net Limited Assessed Valuation	4.10 %

Net Direct and Overlapping General Bonded Debt

Per Capita	$	6,243

As a Percentage of Net Limited Assessed Valuation                                                     38.47 % As a Percentage of Gross Full Cash Value                                                                       3.68 %

Source: The source of this information is the District's records and the State and County Abstract of the Assessment Roll, Arizona Department of Revenue and the applicable governmental unit.
Notes: 1) Estimated percentage of debt outstanding applicable to the District is calculated based on a portion of the District's net limited assessed valuation as a percentage of the net limited assessed valuation of the overlapping net limited jurisdiction.
2) Outstanding debt as of June 30, 2019 is presented for the overlapping governments as this is the most recent available information.

Page 148

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 LEGAL DEBT MARGIN INFORMATION LAST TEN FISCAL YEARS

Class B Bond Legal Debt Margin Calculation for Fiscal Year 2020: Net full cash assessed valuation	$	203,826,139

Total Legal Debt Margin Calculation for Fiscal Year 2020: Net full cash assessed valuation	$	203,826,139

Debt limit (20% of assessed value) Debt applicable to limit
Legal debt margin

40,765,228 8,450,000
$	32,315,228

Debt limit (30% of assessed value)

Debt applicable to limit (total) Legal debt margin

61,147,842 8,450,000
$	52,697,842

Fiscal Year Ended June 30

2020	2019	2018	2017	2016

Debt Limit	$	61,147,842	$	59,063,038	$	57,203,009	$	57,485,640	$	52,786,271

Total net debt applicable to limit	8,450,000	9,190,000	9,910,000	10,585,000	11,210,000

Legal debt margin	$	52,697,842	$	49,873,038	$	47,293,009	$	46,900,640	$	41,576,271

Total net debt applicable to the limit

as a percentage of debt limit	14%	16%	17%	18%	21%

2015	2014	2013	2012	2011

Debt Limit	$	50,766,107	$	51,212,925	$	55,463,418	$	60,344,473	$	68,252,706

Total net debt applicable to limit	11,785,000	12,335,000	13,370,000	13,790,000	14,000,000

Legal debt margin	$	38,981,107	$	38,877,925	$	42,093,418	$	46,554,473	$	54,252,706

Total net debt applicable to the limit

as a percentage of debt limit	23%	24%	24%	23%	21%

Source: The source of this information is the District's financial records.
Notes: 1) The District’s general obligation bonds are subject to two limits; the Constitutional debt limit (total debt limit) on all general obligation bonds outstanding and the statutory debt limit on Class B bonds outstanding. The calculations of the debt margins are presented in detail for the current fiscal year only.
2) Prior to FY17, net bond premium was restricted by amount and not subject to the statutory debt limit. Beginning with FY17, any additional net premium used for capital projects, bond counsel, printing and preparation of offering documents, a financial advisor, paying agent costs or to pay down debt is counted against both debt limits with the exception of amounts of premium deposited into the Debt Service Fund or a refunding escrow to pay interest payments.

Page 149

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COUNTY-WIDE DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN CALENDAR YEARS

Personal Income
Year	Population	(thousands)

Per Capita Income

Unemployment Rate

Estimated District
Population

2019	1,044,675	$ 2018	1,034,201 2017	1,026,099 2016	1,013,103 2015	1,010,025 2014	1,004,516 2013                   996,554 2012                   992,394 2011                   986,081 2010                   980,263

N/A	$	N/A 45,748,033                       44,028 42,585,356                       41,637 40,182,115                       39,541 38,922,402                       38,536 37,198,714                       37,031 36,935,363                       37,063 35,813,670                       35,371 36,058,871                       36,335 34,360,759                       34,987

4.0	%	12,168 4.5                            16,500 4.5                            14,000 4.9                            14,000 6.2                            14,000 6.2                            14,000 7.0                            14,000 7.2                            14,000 9.1                            14,000 9.0                            14,000

Sources:

Note:

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 for 2010 is the University of Arizona, Eller College of Management, Economic and Business Research Center. For 2011 through 2019, the source of the information is the Arizona Office of Employment and Population Statistics.
N/A indicates that the information is not available.

Page 150

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 PRINCIPAL EMPLOYERS
CURRENT FISCAL YEAR AND FISCAL YEAR NINE YEARS PRIOR

2020	2011

Percentage of Total
Employer	Employees	Employment

Percentage of Total
Employees	Employment

University of Arizona Raytheon
State of Arizona Davis Monthan AFB Pima County
Tucson Unified School District

Banner University Medical Center Tucson Campus U.S. Customs and Border Protection
Freeport-McMoran Mining Wal-Mart Stores, Inc.
U.S. Army Intelligence Center & Fort Huachuca City of Tucson
Tucson Medical Center

Total

11,251	2.95     % 9,600	2.51 8,580	2.25 8,406	2.20 7,060	1.85 6,770	1.77 6,272	1.64 5,739	1.50 5,530	1.45 5,500	1.44

74,708	19.56     %

13,898	3.84 % 12,124	3.35
8,722	2.41 7,745	2.14 6,515	1.80 7,021	1.94

7,202	1.99 6,225	1.72 5,393	1.49 3,040	0.84

77,885	21.52 %

Total employment	382,000	361,919

Source: The source of this information is The Book of Lists 2020, Inside Tucson Business and the Arizona Daily Star (2010).

Page 151

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE
LAST TEN FISCAL YEARS

Full-time Equivalent Employees as of June 30

2020	2019	2018	2017	2016

Supervisory

Consultants/supervisors of instruction Principals
Assistant principals Total supervisory
Instruction Teachers
Other professionals (instructional) Aides
Total instruction Student Services
Librarians Technicians
Total student services Support and Administration
Service workers

Total support and administration

Total

2                            2                            2                            4                            4 4                            4                            4                            4                            4 4                            4                            4                            2                            2 10                          10                          10                          10                          10

126                        135                        129                        127                        133 10                          10                          10                            9                            7 31                          43                          47                          55                          55 167                        188                        186                        191                        195

4	4	4	4	4 2	3	3	1	1 6	7	7	5	5

74                          83                          85                          81                          81 74                          83                          85                          81                          81

257	288	288	287	291

(Continued)

Page 152

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE
LAST TEN FISCAL YEARS

2015	2014	2013	2012	2011

Supervisory

Consultants/supervisors of instruction Principals
Assistant principals Total supervisory
Instruction Teachers
Other professionals (instructional) Aides
Total instruction Student Services
Librarians Technicians
Total student services Support and Administration
Service workers

Total support and administration

Total

4                            4                            4                            4                            4 4                            4                            4                            4                            4 2                            1                            1                            1                            1 10                            9                            9                            9                            9

132                        128                        124                        116                        109 1                            1                            1                            1                            1 51                          49                          47                          46                          44 184                        178                        172                        163                        154

3	3	3	3	3 1	1	1	1	1 4	4	4	4	4

78                          78                          78                          77                          77 78                          78                          78                          77                          77

276	269	263	253	244

Source: The source of this information is District personnel records.

(Concluded)

Page 153

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 OPERATING STATISTICS LAST TEN FISCAL YEARS

Fiscal
Year	Average Ended                 Daily
June 30	Membership

Operating Expenditures

Cost
per	Percentage
Pupil	Change	Expenses

Cost
per	Percentage Pupil               Change

Teaching Staff

Pupil-Teacher Ratio

Percentage of Free/Reduced Students

2020	2,056 2019	2,009 2018	2,026

$     17,157,763	$	8,345 16,954,798                8,439 16,269,371                8,031

(1.12) %	$ 5.09
6.41

19,148,970	$	9,314 18,138,519                9,029 17,712,115                8,743

3.16 %	167	12.3	12.5     % 3.27	188	10.7	12.0 3.18	186	10.9	14.0

2017	2,028 2016	1,994 2015	1,997 2014	1,915 2013	1,847 2012	1,687 2011	1,583 2010	1,500

15,302,852 15,487,360 14,982,054 14,364,038 13,551,614 12,876,311 12,107,202 11,024,342

7,547	(2.83) 7,767                    3.53 7,502                    0.02 7,501                    2.23 7,337	(3.87) 7,633	(0.20) 7,648                    4.06 7,350               #DIV/0!

17,181,442 17,416,743 17,129,164 16,068,026 15,213,819 14,846,614 13,841,060 11,840,825

8,474	(2.99) 8,735                    1.83 8,577                    2.23 8,391                    1.86 8,237	(6.40) 8,801                    0.65 8,744                  10.76 7,894               #DIV/0!

191	10.6	15.0 195	10.2	15.0 184	10.9	15.0 178	10.8	16.0 172	10.7	15.9 163	10.3	14.1 154	10.3	41.8

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

Note: Operating expenditures are total expenditures less debt service and capital outlay.

Page 154

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 CAPITAL ASSETS INFORMATION LAST TEN FISCAL YEARS

Fiscal Year Ended June 30

2020	2019	2018	2017	2016	2015	2014	2013	2012	2011

Schools Elementary
Buildings Square feet Capacity Enrollment
Middle Buildings Square feet Capacity Enrollment
High Buildings
Square feet Capacity Enrollment
Other Buildings Square feet

Administrative Buildings Square feet

Transportation Garages Buses

Athletics
Football fields Soccer fields Baseball/softball Playgrounds

23 103,660 1,100 1,166

5 57,124 450 395

11 94,194 650 577

4 10,178

1 14,425

1 29

1 4 3 3

23 103,660 1,100 1,157

5 57,124 450 397

11 94,194 650 581

4 10,178

1 14,425

1 22

1 4 3 3

23 103,660 1,100 1,089

5 57,124 450 367

11 94,194 650 576

4 10,178

1 14,425

1 24

1 4 3 3

23 103,660 1,100 1,089

5 57,124 450 367

11 94,194 650 576

4 10,178

1 14,425

1 23

1 4 3 3

23 103,660 1,100 1,130

5 57,124 450 376

11 94,194 650 555

4 10,178

1 14,425

1 19

1 4 3 3

2                         2                         2                         2                         2 98,371                98,371                98,371                98,371                98,371 1,100                  1,100                  1,100                  1,050                  1,050 1,130                  1,138                  1,087                  1,040                  1,025

1                         1                         1                         1                         1 57,124                57,124                57,124                57,124                57,443 450                     450                     450                     450                     370 376                     371                     367                     350                     340

1                         1                         1                         1                         1 94,194                94,194                94,194                94,194                17,100 650                     650                     650                     650                     230 555                     479                     449                     375                     330

4                         4                         4                         4                         1 10,178                10,178                10,178                10,718                     758

1                         1                         1                         1                         1 14,425                14,425                14,425                14,425                40,211

1                         1                         1                         1                         1 17                       17                       17                       17                       17

1	1	1	1	1 4	4	4	3	2 3	3	3	7	6 3	3	3	3	3

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

Note: Prior to fiscal year 2015-16, the buildings are listed by the individual site.

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