TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2015

_____________________________
2300 N. Tanque Verde Loop, Building #1 – Tucson, Arizona 85749

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TUCSON, ARIZONA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2015

Issued by: Business Office

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

INTRODUCTORY SECTION	Page

Letter of Transmittal	i

ASBO Certificate of Excellence	vii

GFOA Certificate of Achievement	viii

Organizational Structure	ix

List of Principal Officials	x

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT	1

MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A)	5

BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements:

Statement of Net Position	18

Statement of Activities	19

Fund Financial Statements:

Balance Sheet – Governmental Funds	22

Reconciliation of the Balance Sheet –
Governmental Funds to the Statement of Net Position	25

Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	26

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds to the
Statement of Activities	28

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

FINANCIAL SECTION	Page

BASIC FINANCIAL STATEMENTS

Statement of Assets and Liabilities – Fiduciary Funds	29

Notes to Financial Statements	30

REQUIRED SUPPLEMENTARY INFORMATION

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

General Fund	52

Special Education Grants Fund	53

Schedule of Proportionate Share of the Net Pension Liability	54

Schedule of Contributions	54

Notes to Required Supplementary Information	55

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

Governmental Funds:

Combining Balance Sheet – All Non-Major Governmental Funds –
By Fund Type	60

Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – All Non-Major Governmental Funds – By Fund Type	61

Special Revenue Funds:

Combining Balance Sheet	64

Combining Statement of Revenues, Expenditures and
Changes in Fund Balances	70

Combining Schedule of Revenues, Expenditures and
Changes in Fund Balances – Budget and Actual	76

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

FINANCIAL SECTION	Page

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

Debt Service Fund:

Schedule of Revenues, Expenditures and Changes in
Fund Balance – Budget and Actual	100

Capital Projects Funds:

Combining Balance Sheet	102

Combining Statement of Revenues, Expenditures and Changes in
Fund Balances	104

Combining Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual	106

Agency Fund:

Statement of Changes in Assets and Liabilities	114

STATISTICAL SECTION

Financial Trends:

Net Position by Component	117

Expenses, Program Revenues, and Net (Expense)/Revenue	118

General Revenues and Total Changes in Net Position	120

Fund Balances – Governmental Funds	122

Governmental Funds Revenues	124

Governmental Funds Expenditures and Debt Service Ratio	126

Other Financing Sources and Uses and Net Changes in Fund
Balances – Governmental Funds	128

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

STATISTICAL SECTION	Page

Revenue Capacity:

Primary Assessed Value and Estimated Actual Value of Taxable Property by Class	129

Secondary Assessed Value of Taxable Property by Class	130

Property Tax Assessment Ratios	131

Direct and Overlapping Property Tax Rates	132

Principal Property Taxpayers	133

Property Tax Levies and Collections	134

Debt Capacity:

Outstanding Debt by Type	135

Direct and Overlapping Governmental Activities Debt	136

Direct and Overlapping General Bonded Debt Ratios	136

Legal Debt Margin Information	137

Demographic and Economic Information:

County-Wide Demographic and Economic Statistics	138

Principal Employers	139

Operating Information:

Full-Time Equivalent District Employees by Type	140

Operating Statistics	142

Capital Assets Information
143

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INTRODUCTORY SECTION

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January 28, 2016

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, 2015.

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, 2015, 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, 2015, 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.

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The independent audit of the financial statements of the District was part of a broader, federally mandated Single Audit as required by the provisions of the Single Audit Act Amendments of 1996 and U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments and Non-Profit Organizations designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the District’s internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards. These reports are available in a separately issued Single Audit Reporting Package.

Accounting principles generally accepted in the United States of America require that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The District’s MD&A can be found immediately following the report of the independent auditors.

PROFILE OF THE DISTRICT

The District is one of 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 1,997 students. The average age of the District’s buildings is 21 years. The District consists of two elementary schools, one junior high school, and one high school. A private preschool is located on the campus of one elementary school, and preschool students with special needs receive services at this site. 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.

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, component units combined with the District for financial statement purposes and the District are not included in any other governmental entity. Consequently, the District’s financial statements

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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. In addition, the District sponsored the Tanque Verde Elementary Charter school for which the governing body was financially accountable during fiscal year 2014-15; therefore, this activity is included in the reporting entity. However, due to recent state legislation, the District-sponsored charter school reverted back to its original status at the start of fiscal year 2015-16.

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 primary assessed valuation increased 2.75% during the 2014-15 school year. The 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.

Each year the District focuses on state and national trends and possible changes in the education industry. The District continues to be involved in training and developing strategies for the new Arizona Evaluation Framework for Teachers and Administrators. This will partially base evaluation on student achievement.

District professional development activities include the ongoing focus on Marzano instructional strategies. These are research-based strategies which have been shown to improve student achievement. Teachers continue to focus their efforts on these strategies.

The District has high scholastic ratings, and is recognized as a leading school district in the state of Arizona. Students are offered a viable curriculum throughout the District, and recent employment of newly hired teachers has prompted the District to review and document the current curriculum, and to formalize how curriculum is accessed throughout the District. The District is committed to documenting curriculum through the retention of a Curriculum Consultant, with the goal of making the curriculum easily accessible to all teachers in the District.

The character education program known as Capturing Kids’ Hearts continues to be used as a guide for employees in their interactions with one another and with students. The tools enable the school to look at each child’s needs and provide necessary instruction and intervention to address learning deficits and promote academic strengths. Use of these tools continues to enable teachers to “inform instruction” which is required for improvement of academic achievement in a school environment where respect and dignity are cultural norms. There are “process champions” at the Tanque Verde Elementary School and at Emily Gray Junior High School. These “champions” work with staff members to ensure the continued implementation of this dynamic character education initiative. Legislative direction has resulted in the reversal of the District-sponsored charter school, and Tanque Verde Elementary School has returned to a traditional public school in 2015-16. The character education program initiative has continued, and will be introduced to the Agua Caliente Elementary School staff members during professional development sessions scheduled for summer 2016.

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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 agri-science. Previously, a computer lab and a greenhouse were a part of the curriculum resources. Enrollment in this program exceeds 100 students 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 classroom digital learning program at the high school continues to be highly successful, and during its initial years of implementation, it provided students with an opportunity to study and learn at their own pace. This program will continue into the next school year with closely defined guidelines and a detailed budgetary allowance.

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 nearly 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.

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Long-term Financial Planning. In the November 2014 election, District voters approved the continuance of a 15% Maintenance and Operations override (continuation of 10% override and 5% special programs override). This was used primarily to fund teacher salaries, to maintain class sizes, to support educational programs and to continue student support services. The previous elections (November 2011 and again 2012) did not result in District voters approving a new Special Programs Override. In May 2014, a School Board Advisory Committee, Tanque Verde On Target (TOT) was implemented to determine the feasibility of the continuance of a school district maintenance and operations override in November 2014. This 20-member Board Advisory Committee unanimously recommended that the TVUSD Board of Education call for the continuance of a 15% Maintenance and Operations override (continuation of 10% override and 5% special programs override) election for November 14, 2014. With the continued support of the TOT committee and additional local support the override passed and is projected to raise $1.5 million.

The District continues to save an estimated $150,000 annually in electricity costs and will be for the next 23 years. 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.

Finally, the formation of a District charter school added approximately $250,000 in budget funding in fiscal year 2013-14, and this continued into fiscal year 2014-15. As noted earlier, the state has mandated that the District charter school revert to a traditionally funded public school and will not be eligible for any additional charter school assistance beginning in fiscal year 2015-16.

Student enrollment continues to increase as students outside of the school district open-enroll in our schools. Tanque Verde is an A rated school district as determined by the Arizona Department of Education. With the start of school year 2014-15, the District enrollment reached 1,997 students. The maximum student capacity is approximately 2,100, and this will likely be reached next year.

District administrators will continue to be active in the Pima County Collaborative which is composed of school board members and administrators from each district in Pima County. Active participation 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.

District Plans. The District plans to document and assess curriculum throughout the District, and review curriculum delivery methods with an emphasis on 21st Century Learning. This initiative will be continued with the intended outcome of documenting a comprehensive curriculum, with an emphasis on the core subjects of English Language Arts and Mathematics. There will be a clear curriculum map, aligned to standards and appropriate for systemic deployment.

The District plans to adjust the new teacher base salary to $32,300 at minimum, in order to attract and retain quality teachers.

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The District is researching the feasibility of opening a District preschool within the boundaries of the District, with a tentative implementation date to correlate with the start of school in school year 2017-18.

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, 2014. This was the twenty-first 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, 2014. In order to be awarded these certificates, the District published an easily readable and efficiently organized comprehensive annual financial report. This report satisfied both accounting principles generally accepted in the United States of America and applicable legal requirements.

These certificates are valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the programs’ requirements and we are submitting it to ASBO and GFOA to determine its eligibility for the fiscal year ended June 30, 2015 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,

Kimberly C. Sharp Superintendent

Adam Hamm Business Manager

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Association of School Business Officials International

The Certificate of Excellence in Financial Reporting Award is presented to

Tanque Verde Unified School District No. 13

For Its Comprehensive Annual Financial Report (CAFR) For the Fiscal Year Ended June 30, 2014

The CAFR has been reviewed and met or exceeded ASBO International’s Certificate of Excellence standards

Mark C. Pepera, MBA, RSBO, SFO	John D. Musso, CAE, RSBA President                                                                                  Executive Director

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

LIST OF PRINCIPAL OFFICIALS

GOVERNING BOARD

Claire Place, President

Peter Livingston, Clerk

Steven Auslander, Member

Carlos Ruiz, Member

Jeffrey M. Neff, Member

ADMINISTRATIVE STAFF

Kimberly C. Sharp Superintendent

Adam Hamm Business Manager

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FINANCIAL SECTION

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10120 N. Oracle Road Tucson, Arizona 85704 Tel (520) 742-2611 Fax (520) 742-2718

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, 2015, 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, 2015, 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. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date, for the year ended June 30, 2015, which represents a change in accounting principle. Our opinion is not modified with respect to this matter.

Page 1	TUCSON • PHOENIX • FLAGSTAFF www.heinfeldmeech.com

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, and 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 January 28, 2016, 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 to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Tanque Verde Unified School District No. 13’s internal control over financial reporting and compliance.

HEINFELD, MEECH & CO., P.C. CPAs and Business Consultants

January 28, 2016

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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, 2015

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, 2015. 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 decreased $1.2 million which represents a 27 percent decrease from the prior fiscal year primarily due to increased expenses related to new pension standards and increases in insurance premiums and teacher raises.

	General revenues accounted for $13.3 million in revenue, or 84 percent of all current fiscal year revenues. Program specific revenues in the form of charges for services and grants and contributions accounted for $2.6 million or 16 percent of total current fiscal year revenues.

	The District had approximately $17.1 million in expenses related to governmental activities, an increase of seven percent from the prior fiscal year primarily due to increases in insurance premiums and teacher raises.

	 Among major funds, the General Fund had $12.2 million in current fiscal year revenues, which primarily consisted of state aid and property taxes, and $12.4 million in expenditures. The General Fund’s fund balance decreased from $2.5 million at the prior fiscal year end, to $2.3 million at the end of the current fiscal year.

	The Special Education Grants Fund had $289,985 in revenues and total expenditures were $289,985.

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, 2015

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 can be divided into two categories: governmental funds and fiduciary funds.

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

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, 2015

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, Special Education Grants, and Debt Service Funds, all of which are considered to be major funds. Data from the other governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements and schedules.

Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the District. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the District’s own programs. Due to their custodial nature, the fiduciary funds do not have a measurement focus.

Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found immediately following the basic financial statements.

Other information. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the District’s budget process. The District adopts an annual expenditure budget for all governmental funds. A schedule of revenues, expenditures and changes in fund balances – budget and actual has been provided for the General Fund and major special revenue fund 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 $3.3 million at the current fiscal year end.

The largest portion of the District’s positive 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.

Page 7

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

GOVERNMENT-WIDE FINANCIAL ANALYSIS

The following table presents a summary of the District’s net position for the fiscal years ended June 30, 2015 and June 30, 2014.

Current assets Capital assets, net
Total assets

Deferred outflows

Current liabilities Long-term liabilities
Total liabilities

Deferred inflows

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

As of June 30, 2015
$	 4,782,747 25,021,747 29,804,494

2,811,172

917,866 26,046,611 26,964,477

2,393,454

13,236,767 1,526,532
(11,505,564) $	3,257,735

As of June 30, 2014 $	5,103,166
26,125,926 31,229,092

701,638 13,003,632 13,705,270

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

The District’s financial position is the product of several financial transactions including the net result of activities, the payment of debt, the acquisition 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 $825,465 in accumulated depreciation through current year depreciation expense.

	The restatement of capital asset balances due to a change in capitalization threshold and physical inventory.

	 The addition of $13.7 million in pension liabilities due to the implementation of new pension reporting standards.

	The principal retirement of $550,000 in bonds payable.

Page 8

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Changes in net position. The District’s total revenues for the current fiscal year were $16.0 million. The total cost of all programs and services was $17.1 million. The following table presents a summary of the changes in net position for the fiscal years ended June 30, 2015 and June 30, 2014.

Revenues: Program revenues:
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 services Student transportation services
Operation of non-instructional services Interest on long-term debt

Fiscal Year Ended
June 30, 2015

$      1,766,129 786,528 48,736

6,292,584 11,058 466,615 6,569,926 15,941,576

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

Fiscal Year Ended
June 30, 2014

$       1,253,755 963,876 35,314

6,628,550 12,343 479,603 6,357,931 15,731,372

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

Total expenses
Changes in net position
Net position, beginning, as restated Net position, ending

17,129,164 (1,187,588)
4,445,323
$	3,257,735	$

16,068,026 (336,654)
17,860,476 17,523,822

Page 9

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Expenses

$10

Millions
$8

$6

$4

$2

$0

FY2014-15

FY2013-14

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

	Charges for services increased $512,374 due to increased participation in joint technical education and community school programs.
	A decrease in property tax revenues of $335,966 due to decreases in the assessed valuation of taxable property within the District.
	The $591,500 increase in expenses for instruction was due to increases in employee compensation during the fiscal year.

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 10

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Year Ended June 30, 2015	Year Ended June 30, 2014

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 Interest on long-term debt

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

$     (8,836,711) (1,226,083) (2,069,735) (1,600,747) (704,817)
364,443 (454,121)

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

$ (8,509,532) (1,045,612) (2,004,228) (1,337,825) (664,236)
221,174 (474,822)

Total	$ 17,129,164	$ (14,527,771)	$ 16,068,026	$ (13,815,081)

	The cost of all governmental activities this year was $17.1 million.

	Federal and State governments and charges for services subsidized certain programs with grants and contributions and other local revenues of $2.6 million.

	Net cost of governmental activities of $14.5 million was financed by general revenues, which are made up of primarily property taxes of $6.3 million and unrestricted state aid of $6.6 million.

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS

As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental funds. The focus of the District’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the District’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of the District’s net resources available for spending at the end of the fiscal year.

The financial performance of the District as a whole is reflected in its governmental funds. As the District completed the year, its governmental funds reported a combined fund balance of $3.7 million, a decrease of $83,107.

Page 11

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS

The General Fund comprises 62 percent of the total fund balance. The entire $2.3 million of the General Fund’s fund balance is unassigned.

The General Fund is the principal operating fund of the District. The fund balance decreased $158,399 in the General Fund to $2.3 million as of fiscal year end. General Fund revenues increased $521,045 primarily due to elevated state equalization funding and expenditures increased $658,308 due to increases in insurance premiums and teacher raises.

The Special Education Grants Fund had $289,985 in revenues and total expenditures were $289,985.

BUDGETARY HIGHLIGHTS

Over the course of the year, the District revised the General Fund annual expenditure budget to account for student growth. The difference between the original budget and the final amended budget was a $355,882 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 significant variances are summarized as follows:

	 The favorable variance of $419,220 in expenditures for instruction was a result of the District budgeting for potential expenditures relating to the retirement and replacement of senior staff.
	 The unfavorable variance of $265,088 in operation and maintenance of plant services was a result of unforeseen repair and replacement costs of the District’s facilities, vehicles, and equipment.

Page 12

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets. As of year end, the District had invested $37.4 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 $41,839 from the prior fiscal year. Total depreciation expense for the current fiscal year was $825,465.

The following schedule presents a summary of capital asset balances for the fiscal years ended June 30, 2015 and June 30, 2014.

Capital assets – non-depreciable Capital assets – depreciable, net
Total

As of June 30, 2015
$         679,272 24,342,475
$	25,021,747

As of June 30, 2014 $	679,272
25,446,654 $ 26,125,926

Additional information on the District’s capital assets can be found in Note 6.

Debt Administration. At year end, the District had $11.8 million in long-term debt outstanding, $575,000 due within one year. Long-term debt decreased by $550,000 from the prior fiscal year.

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 secondary assessed valuation) and the statutory debt limit on Class B bonds (the greater of 20 percent of the total secondary assessed valuation or $1,500 per student). The current total debt limitation for the District is $50.8 million and the Class B debt limit is $33.8 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 liabilities can be found in Notes 7 and 8.

Page 13

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2015

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 2015-16 General Fund budget. Among them:

	Fiscal year 2014-15 budget balance carry forward. 	District student population.
	Employee salary and benefit rates.

Also considered in the development of the budget is the local economy and inflation of the surrounding area.

Expenditures for the adopted budget in the General Fund decreased three percent to $12.3 million in fiscal year 2015-16. State aid and property taxes are expected to be the primary funding sources. No new programs were added to the 2015-16 budget.

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 14

BASIC FINANCIAL STATEMENTS

Page 15

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Page 16

GOVERNMENT-WIDE FINANCIAL STATEMENTS

Page 17

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF NET POSITION JUNE 30, 2015

ASSETS Current assets:
Cash and investments Property taxes receivable Accounts receivable
Due from governmental entities 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
Accrued payroll and employee benefits Compensated absences payable Unearned revenues
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

$         1,785,126 233,963 135,401 2,628,257 4,782,747

679,272 24,342,475 25,021,747 29,804,494

2,811,172

176,250 722,067 114,899 19,549 575,000 1,607,765

25,356,712 25,356,712 26,964,477

2,393,454

NET POSITION
Net investment in capital assets Restricted for:
Teacher compensation Federal and state projects Food service
Joint technical education Auxiliary operations Other local initiatives Debt service
Capital outlay Unrestricted
Total net position

13,236,747

225,311 254 51,851 7,071 448,140 10,048 782,653 1,224
(11,505,564) $	3,257,735

The notes to the basic financial statements are an integral part of this statement. Page 18

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF ACTIVITIES YEAR ENDED JUNE 30, 2015

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

9,957,570 $            734,265 $            337,858 $              48,736 $      (8,836,711) 1,243,850                                               17,767                                       (1,226,083) 2,069,735                                                                                                 (2,069,735) 1,639,384                    7,133                  31,504                                       (1,600,747) 704,817                                                                                                    (704,817) 852,547             1,024,731                192,259                                             364,443 661,261                                             207,140                                          (454,121) 17,129,164 $         1,766,129 $            786,528 $              48,736         (14,527,771)

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

Changes in net position

Net position, beginning of year, as restated

5,311,469 930,045 51,070 11,058 466,615 6,569,926 13,340,183

(1,187,588)

4,445,323

Net position, end of year	$	3,257,735

The notes to the basic financial statements are an integral part of this statement. Page 19

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Page 20

FUND FINANCIAL STATEMENTS

Page 21

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 BALANCE SHEET - GOVERNMENTAL FUNDS JUNE 30, 2015

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

General

$            462,826 204,460

1,950,926 583,428
$	3,201,640

Special Education Grants

$

290,802

$	290,802

Debt Service

$            546,010 29,503

207,140

$	782,653

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

$	119,222

654,433

773,655

$                                    $ 284,950
5,852

290,802

Deferred inflows of resources: Unavailable revenues - property taxes

Fund balances (deficits): Restricted
Unassigned
Total fund balances

111,724

2,316,261 2,316,261

14,424

768,229

768,229

Total liabilities, deferred inflows of resources
and fund balances	$	3,201,640	$	290,802	$	782,653

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

Page 22

Non-Major Governmental Funds

Total Governmental Funds

$	776,290

135,401 179,389

$	1,091,080

$              57,028 298,478
61,782 19,549 436,837

$         1,785,126 233,963 135,401 2,628,257 583,428
$	5,366,175

$	176,250 583,428 722,067
19,549 1,501,294

126,148

743,899 (89,656) 654,243

1,512,128 2,226,605 3,738,733

$	1,091,080	$	5,366,175

Page 23

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Page 24

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION JUNE 30, 2015

Total governmental fund balances	$	3,738,733

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	$ 37,365,229

Less accumulated depreciation	(12,343,482)	25,021,747

Property taxes receivable are not available to pay for current period expenditures and, therefore, are reported as unavailable
revenues in the funds.	126,148

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

2,811,172
(2,393,454)	417,718

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

Compensated absences payable Net pension liability
Bonds payable

(574,495) (13,687,116)
(11,785,000)	(26,046,611)

Net position of governmental activities	$	3,257,735

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

Page 25

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2015

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

General

$	 778,820 5,666,331 5,771,316

12,216,467

Special Education Grants

$

289,985 289,985

Debt Service

$                3,207 919,779

207,140 1,130,126

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

7,294,317 973,854 1,914,883 1,565,489 597,286

29,037

12,374,866

261,664 28,321

289,985

550,000 661,261 1,211,261

Changes in fund balances

Fund balances, beginning of year

(158,399)

2,474,660

(81,135)

849,364

Fund balances, end of year	$	2,316,261	$	$	768,229

The notes to the basic financial statements are an integral part of this statement. Page 26

Non-Major Governmental Funds

Total Governmental Funds

$         1,462,712 51,070
848,141 287,671 2,649,594

$         2,244,739 6,637,180 6,619,457 784,796 16,286,172

1,264,193 190,408 45,232 18,332 312 827,763 146,927

2,493,167

156,427

497,816

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

550,000 661,261 16,369,279

(83,107)

3,821,840

$	654,243	$	3,738,733

Page 27

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, 2015

Net changes in fund balances - total governmental funds	$	(83,107)

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 as depreciation expense.

Expenditures for capitalized assets

Less current year depreciation

$	41,839

(825,465)	(783,626)

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

(344,596)

(108,944)	(453,540)

Repayments of bonded debt principal are expenditures in the governmental funds, but the repayment reduces long-term liabilities in the Statement of
Net Position.	550,000

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 pension items, is reported as pension expense in the Statement of Activities.

Current year pension contributions

Pension expense

912,359

(1,423,811)	(511,452)

Compensated absence expenses reported in the Statement of Activities do not require the use of current financial resources and, therefore, are not reported as expenditures
in the governmental funds.	94,137

Changes in net position in governmental activities	$	(1,187,588)

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

Page 28

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2015

ASSETS
Cash and investments Total assets

LIABILITIES
Due to student groups Total liabilities

Agency

$            140,921 $            140,921

$            140,921 $            140,921

The notes to the basic financial statements are an integral part of this statement. Page 29

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

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, 2015, the District implemented the provisions of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. This Statement requires governments providing defined benefit pensions to recognize the long-term obligation for pension benefits as a liability, and to more comprehensively and comparably measure the annual costs of pension benefits. This Statement also enhances accountability and transparency through revised note disclosures and new required supplementary information.

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, component units combined with the District for financial statement presentation purposes, and the District, are not included in any other governmental reporting entity.

Page 30

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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, and sponsorship of the Tanque Verde Elementary Charter School. The component unit discussed below is included in the District’s reporting entity because of the significance of its operational and/or financial relationship with the District.

Blended Component Unit – Blended component units, although legally separate entities, are, in substance, part of the District’s operations. The Tanque Verde Elementary Charter School is a nonprofit organization that provides educational services to students of the District. The school has a five member appointed Board which is comprised of the current Board members of the District. The District is responsible for all financial operations of the School. Separate financial statements are not prepared for the organization.

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 and its component unit. For the most part, the effect of internal activity has been removed from these statements. These statements are to distinguish between the governmental and business-type activities of the District. Governmental activities normally are supported by taxes and intergovernmental revenues, and are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The District does not have any business-type activities.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes, unrestricted state and county aid, and other items not included among program revenues are reported instead as general revenues.

Separate financial statements are provided for governmental funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements.	Major individual governmental funds are reported as separate columns in the fund financial statements.

Page 31

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

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.

Page 32

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The focus of governmental fund financial statements is on major funds rather than reporting funds by type. Each major fund is presented in a separate column. Non-major funds are aggregated and presented in a single column. Fiduciary funds are reported by fund type.

The District reports the following major governmental funds:

General Fund – The General Fund is the District’s primary operating fund. It accounts for all resources used to finance District maintenance and operation except those required to be accounted for in other funds. The General Fund includes the District’s Maintenance and Operation Fund as well as 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.

Special Education Grants Fund – The Special Education Grants Fund accounts for supplemental financial assistance received to provide a free, appropriate public education to disabled children.

Debt Service Fund – The Debt Service Fund accounts for the accumulation of resources for, and the payment of, long-term debt principal, interest and related costs.

Additionally, the District reports the following fund type:

Fiduciary Fund – The Fiduciary Fund is an Agency Fund which account for resources held by the District on behalf of others. This fund type includes the Student Activities Fund, which accounts for monies raised by students to finance student clubs and organizations held by the District as an agent.

The Agency Fund is custodial in nature and does not have a measurement focus and is reported on the accrual basis of accounting. The Agency Fund is reported by fund type.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

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. Statute requires collateral for deposits of Bond Building and Debt Service Funds monies in interest bearing savings accounts and certificates of deposit at 101 percent of all deposits not covered by federal depository insurance.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

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. 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.

I. Capital Assets

Capital assets, which include land and improvements; buildings and improvements; vehicles, furniture, and equipment; and construction in progress, are reported in the government-wide financial statements.

The District increased the threshold for capital asset recognition in the current year. Capital assets are defined by the District as assets with an initial, individual cost in excess of $5,000, and an estimated useful life of more than one year. Such assets are recorded at historical cost, or estimated historical cost if actual historical cost is not available. Donated capital assets are recorded at the estimated fair market value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the life of the asset are not capitalized.

Capital assets are depreciated using the straight-line method over the following estimated useful lives:

Land improvements 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, 2015

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

J. 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.

K. 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.

L. Pensions

For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, 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.

M. 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, as well as the difference between the reacquisition price and the net carrying amount of the old debt, are deferred and amortized over the life of the bonds using the straight-line method over the term of the related debt.

Page 36

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

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.

N. 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.

O. 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.

P. Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates.

NOTE 2 – FUND BALANCE CLASSIFICATIONS

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

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 2 – FUND BALANCE CLASSIFICATIONS

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.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 2 – FUND BALANCE CLASSIFICATIONS

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

Fund Balances: Restricted:
Debt service Capital projects
Teacher compensation Federal and state projects Auxiliary operations Food service
Other purposes Unassigned
Total fund balances

General Fund

$

2,316,261 $	2,316,261

Debt Service Fund

$	768,229

$	768,229

Non-Major Governmental Funds

$
1,224 225,311 254 448,140 51,851 17,119
(89,656) $	654,243

NOTE 3 – STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Individual Deficit Fund Balance – At year end, the Community School, Unrestricted Capital Outlay, and Building Renewal Grant Funds, non-major governmental funds, reported deficits of $77,370, $3,913, and $8,373 in fund balance, respectively.

The deficits arose because of operations during the year. Additional revenues received in fiscal year 2015-16 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, 2015

NOTE 4 – 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 $876,689 and the bank balance was $888,459. At year end, $156,369 of the District’s deposits were covered by collateral held by the pledging financial institution in the District’s name, and $42,033 was uninsured and uncollateralized.

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.

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

County Treasurer’s investment pool Total

Average Maturities 223 days

Fair Value $ 1,049,358 $ 1,049,358

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, 2015

NOTE 5 – RECEIVABLES

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

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

Special	Non-Major General	Education       Debt Service Governmental
Fund	Grants Fund	Fund	Funds

$                       $        290,802 $        207,140 $          72,916 1,943,125                                                              106,420 7,801                                                                       53
$	1,950,926 $	290,802 $	207,140 $	179,389

NOTE 6 – CAPITAL ASSETS

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

Beginning Balance
Governmental Activities	As Restated	Increase	Decrease

Ending Balance

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

$	679,272 $	$ 679,272

726,548
33,292,564              11,101 2,625,006              30,738

$       679,272 679,272

726,548 33,303,665 2,655,744

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

36,644,118

(378,283) (8,990,612) (2,149,122) (11,518,017)

25,126,101

41,839

(19,919) (689,002) (116,544) (825,465)

(783,626)

36,685,957

(398,202) (9,679,614) (2,265,666) (12,343,482)

24,342,475

Governmental activities capital assets, net	$ 25,805,373 $	(783,626) $	$ 25,021,747

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 6 – 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

$ 654,150 1,409 65,825 24,139 67,076 12,866
$ 825,465

NOTE 7 – 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.

Original Amount
Purpose	Issued

Interest Rates

Remaining Maturities

Outstanding Principal June 30, 2015

Due Within One Year

Governmental activities:
School Improvement Bonds, Build America, Series 2010 (Class B)
Total

$ 11,785,000 4.153-6.073% 7/1/16-29 $ $

11,785,000 $ 11,785,000 $

575,000 575,000

Governmental Activities

Year ending June 30: 2016 2017 2018 2019 2020
2021-25 2026-29
Total

Principal
$       575,000 625,000 675,000 720,000 740,000 4,320,000 4,130,000
$ 11,785,000

Interest
$        626,496 600,640 570,953 537,639 501,511 1,858,868 507,115
$	5,203,222

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 8 – 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 Net pension liability
Compensated absences payable Governmental activity long-
term liabilities

$12,335,000 $ 12,757,946	929,170
668,632	180,368

$25,761,578 $ 1,109,538

$ 550,000

274,505

$ 824,505

$ 11,785,000 $ 13,687,116
574,495

$ 26,046,611 $

575,000

114,899

689,899

NOTE 9 – INTERFUND RECEIVABLES AND PAYABLES

At year end, interfund balances were as follows:

Due to/from other funds – At year end, the Special Education Grants Fund, a major governmental fund, and several non-major governmental funds had negative cash balances of $284,950 and $298,478, 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.

NOTE 10 – PRIOR PERIOD ADJUSTMENTS

The July 1, 2014, government-wide net position does not agree to the prior year financial statements due to the implementation of GASB Statement No. 68, Accounting and Financial Reporting for Pensions, as amended by GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date, these Statements represent a change in accounting principle. In addition, the District restated capital asset balances as a result of an increase to the capitalization threshold and a recent physical inventory project.

Net position/fund balance,
June 30, 2014, as previously reported Net pension liability
Capital asset restatement

Statement of Activities

$	 17,523,822 (12,757,946)
(320,553)

Net position/Fund balance, July 1, 2014,
as restated	$	4,445,323

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 11 – CONTINGENT LIABILITIES

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

NOTE 12 – 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.

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 coverage. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 13 – 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.

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.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 13 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

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 11.60 percent (11.48 percent for retirement and 0.12 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 11.60 percent (10.89 percent for retirement, 0.59 percent for health insurance premium benefit, and 0.12 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, 2015 were $912,359

The District’s contributions for the current and two preceding years for OPEB, all of which were equal to the required contributions, were as follows:

Year ending June 30: 2015 2014 2013

Health Benefit Supplement Fund

$	49,430 48,617 52,693

Long-Term Disability Fund

$	10,054 19,447 19,456

Pension Liability. At June 30, 2015, the District reported a liability of $13.7 million for its proportionate share of the net pension liability of the ASRS. The net pension liability was measured as of June 30, 2014. The total pension liability used to calculate the net pension liability was determined using update procedures to roll forward the total pension liability from an actuarial valuation as of June 30, 2013, to the measurement date of June 30, 2014. The District’s proportion of the net pension liability was based on a projection of the District’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. At June 30, 2014, the District’s proportion was 0.09 percent, which was an increase of 0.01 from its proportion measured as of June 30, 2013.

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 13 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Pension Expense and Deferred Outflows/Inflows of Resources. For the year ended June 30, 2015, the District recognized pension expense of $1.4 million and reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

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

Deferred Outflows of Resources
$	695,619

1,203,194 912,359
$ 2,811,172

Deferred Inflows of Resources
$

2,393,454

$ 2,393,454

The deferred outflows of resources related to pensions resulting from contributions subsequent to the measurement date as reported in the table above will be recognized as a reduction of the net pension liability in the year ended June 30, 2016. 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:
2016 2017 2018 2019

$    227,207 227,207
(350,692) (598,363)

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 13 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

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 Projected salary increases Inflation
Permanent base increases Mortality rates

June 30, 2013 June 30, 2014 Entry age normal 8.0%
3.0-6.75% 3.0% Included
1994 GAM Scale BB

The actuarial assumptions used in the June 30, 2013 valuation were based on the results of an actuarial experience study for the five-year period ended June 30, 2012. 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, 2013, actuarial valuation. The study did not include an analysis of the assumed investment rate of return.

The long-term expected rate of return on ASRS pension plan investments was determined to be 8.79 percent using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan 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 and by adding expected inflation.

The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Asset Class Equity
Fixed income Real estate Commodities
Total

Target Allocation 63% 25%
8% 4%
100%

Long-Term Expected Real Rate of Return
7.03% 3.20 4.75 4.50

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2015

NOTE 13 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Discount Rate. The discount rate used to measure the ASRS total pension liability was 8.0 percent, which is less than the long-term expected rate of return of 8.79 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 pension 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 pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

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 8.0 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:

Proportionate share of the net pension liability

1% Decrease (7.0%)

$17,299,813

Current Discount Rate (8.0%)

$13,687,116

1% Increase (9.0%)

$11,727,047

Pension Plan Fiduciary Net Position. Detailed information about the pension 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 49

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Page 50

REQUIRED SUPPLEMENTARY INFORMATION

Page 51

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL
YEAR ENDED JUNE 30, 2015

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

Budgeted Amounts

Original	Final

$	$

Non-GAAP Actual

$            705,243 5,666,331 5,733,159 12,104,733

Variance with Final Budget Positive (Negative)

$            705,243 5,666,331 5,733,159 12,104,733

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

7,394,947 1,012,871 1,946,040 1,222,448 681,099 20,340 12,277,745

(12,277,745)

7,672,876 1,012,871 1,946,040 1,300,401 681,099 20,340 12,633,627

(12,633,627)

7,253,656 953,861 1,914,249 1,565,489 597,286

12,284,541

(179,808)

419,220 59,010 31,791 (265,088) 83,813 20,340 349,086

12,453,819

Fund balances, beginning of year	2,365,408	2,365,408

Fund balances (deficits), end of year	$ (12,277,745)	$ (12,633,627)	$	2,185,600	$	14,819,227

See accompanying notes to this schedule. Page 52

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL SPECIAL EDUCATION GRANTS YEAR ENDED JUNE 30, 2015

Revenues:
Federal aid, grants and reimbursements Total revenues

Budgeted Amounts

Original & Final

$

Actual

$            289,985 289,985

Variance with Final Budget Positive (Negative)

$            289,985 289,985

Expenditures: Current -
Instruction
Support services - students and staff Total expenditures

315,818 34,182 350,000

261,664                       54,154 28,321                         5,861 289,985                       60,015

Changes in fund balances	(350,000)	350,000

Fund balances, beginning of year

Fund balances (deficits), end of year	$	(350,000)	$	$	350,000

See accompanying notes to this schedule. Page 53

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

SCHEDULE OF THE PROPORTIONATE SHARE OF THE NET PENSION LIABILITY ARIZONA STATE RETIREMENT SYSTEM YEAR ENDED JUNE 30, 2015

2015	2014	2013	2012	2011

District's proportion of the net pension

liability (asset)	0.09%	0.00%	0.00%	0.00%	0.00%

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

District's covered-employee payroll

$	13,687,116	$	$	$	$

$	7,719,114	$	$	$	$

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

Plan fiduciary net position as a percentage of the total pension liability

177.31%

69.49%

#DIV/0!

0.00%

#DIV/0!

0.00%

#DIV/0!

0.00%

#DIV/0!

0.00%

SCHEDULE OF CONTRIBUTIONS ARIZONA STATE RETIREMENT SYSTEM YEAR ENDED JUNE 30, 2015

2015	2014	2013	2012	2011

Actuarially determined contribution	$	912,359	$	$	$	$

Contributions in relation to the

actuarially determined contribution	912,359

Contribution deficiency (excess)	$	$	$	$	$

District's covered-employee payroll	$	7,967,391	$	$	$	$

Contributions as a percentage

of covered-employee payroll	11.45%	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!

Page 54	See accompanying notes to this schedule.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO REQUIRED SUPPLEMENTARY INFORMATION JUNE 30, 2015

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.

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

Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds
Activity budgeted as special revenue funds

Total Expenditures

$ 12,374,866 (90,325)

Fund Balances End of Year

$	2,316,261 (130,661)

Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund	$ 12,284,541	$	2,185,600

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, 2013, valuation were based on the results of an actuarial experience study for the five-year period ended June 30, 2012. 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, 2013, actuarial valuation. The study did not include an analysis of the assumed investment rate of return.

Page 55

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Page 56

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

Page 57

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Page 58

GOVERNMENTAL FUNDS

Page 59

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING BALANCE SHEET - ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE JUNE 30, 2015

ASSETS
Cash and investments Accounts receivable
Due from governmental entities Total assets

Special Revenue

$	775,066 135,401 166,229
$	1,076,696

Capital Projects

$	1,224

13,160 $	14,384

Total Non-Major Governmental Fund

$	776,290 135,401 179,389
$	1,091,080

LIABILITIES AND FUND BALANCES Liabilities:
Accounts payable Due to other funds
Accrued payroll and employee benefits Unearned revenues
Total liabilities

$              46,619            $ 283,441
61,782 19,549 411,391

10,409	$ 15,037

25,446

57,028 298,478 61,782 19,549 436,837

Fund balances (deficits): Restricted
Unassigned
Total fund balances

742,675 (77,370) 665,305

1,224 (12,286) (11,062)

743,899 (89,656) 654,243

Total liabilities and fund balances	$	1,076,696	$	14,384	$	1,091,080

Page 60

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, 2015

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
Total expenditures

Changes in fund balances

Fund balances, beginning of year

Special Revenue

$	1,456,125

809,470 287,671 2,553,266

1,264,193 190,408 45,232 18,332 312 827,763 13,622 2,359,862

193,404

471,901

Capital Projects

$	 6,587 51,070 38,671

96,328

133,305 133,305

(36,977)

25,915

Total Non-Major Governmental Funds

$         1,462,712 51,070
848,141 287,671 2,649,594

1,264,193 190,408 45,232 18,332 312 827,763 146,927 2,493,167

156,427

497,816

Fund balances (deficits), end of year	$	665,305	$	(11,062)	$	654,243

Page 61

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.

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

Student Success - to account for student success monies.

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.

Promote Informed Parent Choice - to account for financial assistance received to promote parent choices in the education of their students.

Limited English and Immigrant Students - to account for financial assistance received for educational services and costs for limited English and immigrant children.

Johnson O’Malley - to account for financial assistance received to meet the unique educational needs of eligible Indian 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.

Medicaid Reimbursement - to account for reimbursements related to specific health services provided to eligible students.

E-Rate - to account for monies received to reimburse the District for broadband internet and telecommunications costs.

Other Federal Projects - to account for financial assistance received for other supplemental federal projects.

State Vocational Education - to account for financial assistance received for the preparation of individuals for employment.

Early Childhood Block Grant - to account for financial assistance received for preschool education.

Extended School Year – Pupils with Disabilities - to account for financial assistance from the State for year-round services for the special education program.

Page 62

Chemical Abuse Prevention Programs - to account for financial assistance received for chemical abuse awareness programs.

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

Other State Projects - to account for financial assistance received for other State projects.

School Plant - to account for proceeds from the sale or lease of school property.

Food Service - to account for the financial activity of school activities that have as their purpose the preparation and serving of regular and incidental meals and snacks in connection with school functions.

Civic Center - to account for monies received from the rental of school facilities for civic activities.

Community School - to account for activity related to academic and skill development for all citizens.

Auxiliary Operations - to account for activity arising from bookstore, athletic and miscellaneous District related operations 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.

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.

Indirect Costs - to account for monies received from federal projects for administrative costs.

Insurance Refund - to account for insurance premium payments that are refunded to the District.

Grants and Gifts to Teachers - to account for grants and gifts under $1,500 received from private sources that are designated for use by a teacher for instructional purposes.

Joint Technical Education - to account for monies received from Joint Technical Education Districts for vocational education programs.

Page 63

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2015

ASSETS
Cash and investments Accounts receivable
Due from governmental entities Total assets

Classroom Site

$	210,786

59,307 $	270,093

Instructional Improvement

$

33,712 $	33,712

Structured English Immersion

$

159 $	159

LIABILITIES AND FUND BALANCES Liabilities:
Accounts payable Due to other funds
Accrued payroll and employee benefits Unearned revenues
Total liabilities

$	$	$
33,681	159 44,813

44,813	33,681	159

Fund balances (deficits): Restricted
Unassigned
Total fund balances

225,280	31

225,280	31

Total liabilities and fund balances	$	270,093	$	33,712	$	159

Page 64

Professional Development and Technology
Title I Grants	Grants

Promote Informed Parent
Title IV Grants	Choice

Vocational
Education	E-Rate

$	$	9,023	$	1,775	$	11	$	$	254

54,975
$	54,975	$	9,023	$	1,775	$

$		$	$	$ 45,495
9,480
9,023	1,775 54,975	9,023	1,775

13,440
11	$	13,440	$	254

$	3,908	$ 9,532

11
11	13,440

254

254

$	54,975	$	9,023	$	1,775	$	11	$	13,440	$	254

(Continued) Page 65

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2015

ASSETS
Cash and investments Accounts receivable
Due from governmental entities Total assets

Other Federal Projects

$

4,501 $	4,501

State Vocational Education

$	6,010

$	6,010

Early Childhood Block Grant

$

135 $	135

LIABILITIES AND FUND BALANCES Liabilities:
Accounts payable Due to other funds
Accrued payroll and employee benefits Unearned revenues
Total liabilities

$	$	$
4,501	135

6,010
4,501	6,010	135

Fund balances (deficits): Restricted
Unassigned
Total fund balances

Total liabilities and fund balances	$	4,501	$	6,010	$	135

Page 66

Other State Projects

Community Food Service	Civic Center	School

Auxiliary
Operations	Fingerprint

$	2,730	$

$	2,730	$

53,536	$

53,536	$

8,109	$	9,609

8,109	$	9,609

$	471,284	$	1,637

$	471,284	$	1,637

$	$	1,685	$

2,730
2,730	1,685

$	17,882	$ 61,608
7,489

86,979

23,144	$

23,144

51,851	8,109

51,851	8,109

(77,370) (77,370)

448,140	1,637

448,140	1,637

$	2,730	$	53,536	$	8,109	$	9,609	$	471,284	$	1,637

(Continued) Page 67

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2015

ASSETS
Cash and investments Accounts receivable
Due from governmental entities Total assets

LIABILITIES AND FUND BALANCES Liabilities:
Accounts payable Due to other funds
Accrued payroll and employee benefits Unearned revenues
Total liabilities

Fund balances (deficits): Restricted
Unassigned
Total fund balances

Textbooks

$	11

$	11

$

11

11

Insurance Refund

$	251

$	251

$

251

251

Grants and Gifts to Teachers

$	40

$	40

$

40

40

Total liabilities and fund balances	$	11	$	251	$	40

Page 68

Joint Technical
Education	Totals

$
135,401

$	135,401

$
128,330

128,330

$	775,066 135,401 166,229
$	1,076,696

$              46,619 283,441
61,782 19,549 411,391

7,071                         742,675 (77,370)
7,071	665,305

$	135,401	$	1,076,696

Page 69

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, 2015

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

Classroom Site

$                2,607 720,113

722,720

573,069 7,298

580,367

142,353

82,927

Instructional Improvement

$                     71 78,497

78,568

71,155 5,074 2,339

78,568

31

Title I Grants

$

54,729 54,729

54,488 135 106

54,729

Fund balances, end of year	$	225,280	$	31	$

Page 70

Professional Development and Technology Grants

Limited English & Immigrant Students

Vocational Education

Other Federal E-Rate	Projects

State Vocational Education

$	$	$	$	$

500                             3,645                           13,960                           18,044 500                             3,645                           13,960                           18,044

$
10,860 4,534
4,534	10,860

4,534	8,086 500	3,645	3,583	2,774

18,044 312

10,065
500	3,645	13,960	18,044	4,534	10,860

254

$	$	$	$	254	$	$

(Continued) Page 71

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, 2015

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

Food Service

$	331,410

192,259 523,669

Civic Center

$	7,150

7,150

Community School

$	175,523

175,523

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

18,354 150

507,938

526,442

175,955

154,225

330,180

Changes in fund balances

Fund balances (deficits), beginning of year

(2,773)

54,624

7,150	(154,657)

959	77,287

Fund balances (deficits), end of year	$	51,851	$	8,109	$	(77,370)

Page 72

Auxiliary
Operations	Fingerprint	Textbooks

Insurance Refund

Grants and Gifts to Teachers

Joint Technical Education

$	694,981	$	603	$	$	1	$	$	243,779

694,981	603	1	243,779

240,707	838 167,399
24,433 138

165,600 3,557
601,834	838

135,361

135,361

93,147	(235)	1	108,418

354,993	1,872	11	250	40	(101,347)

$	448,140	$	1,637	$	11	$	251	$	40	$	7,071

(Continued) Page 73

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, 2015

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

Totals

$         1,456,125 809,470 287,671 2,553,266

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

1,264,193 190,408 45,232 18,332 312 827,763 13,622 2,359,862

193,404

471,901

Fund balances, end of year	$	665,305

Page 74

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Page 75

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, 2015

Classroom Site

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

Budget	Actual

$                                    $                2,607 720,113

722,720

Variance -Positive (Negative)

$                2,607 720,113

722,720

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

581,609 25,133

606,742

(606,742)

573,069 7,298

580,367

142,353

8,540 17,835

26,375

749,095

Fund balances (deficits), beginning of year	82,927	82,927

Fund balances (deficits), end of year	$	(606,742)	$	225,280	$	832,022

Page 76

Instructional Improvement

Budget	Actual

Variance -Positive (Negative)

Student Success

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$		71	$	71	$ 78,497                           78,497

$                     95            $                     95 38,157                           38,157

78,568	78,568	38,252	38,252

200,000

200,000

71,155	128,845	38,156	38,156 5,074                          (5,074)
2,339	(2,339)

78,568	121,432	38,156	38,156

(200,000)	200,000	(38,156)	38,252	76,408

31	31

$	(200,000)	$	31	$	200,031	$	(38,156)	$	38,252	$	76,408

(Continued) Page 77

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, 2015

Title I Grants

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

Budget	Actual

$	$

54,729 54,729

Variance -Positive (Negative)

$

54,729 54,729

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

149,339	54,488	94,851 370                                135                                235 291                                106                                185

150,000	54,729	95,271

Changes in fund balances	(150,000)	150,000

Fund balances (deficits), beginning of year

Fund balances (deficits), end of year	$	(150,000)	$	$	150,000

Page 78

Professional Development and Technology Grants	Title IV Grants

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

500                                500 500                                500

10,000	10,000 50,000	500	49,500

50,000	500	49,500	10,000	10,000

(50,000)	50,000	(10,000)	10,000

$	(50,000)	$	$	50,000	$	(10,000)	$	$	10,000

(Continued) Page 79

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, 2015

Promote Informed Parent Choice

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

25,000	25,000

25,000	25,000

(25,000)	25,000

Fund balances (deficits), beginning of year

Fund balances (deficits), end of year	$	(25,000)	$	$	25,000

Page 80

Limited English & Immigrant Students	Johnson O'Malley

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

3,645                             3,645 3,645                             3,645

50,000	50,000 3,645	(3,645)

3,645	(3,645)	50,000	50,000

(50,000)	50,000

$	$	$	$	(50,000)	$	$	50,000

(Continued) Page 81

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, 2015

Vocational Education

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

Budget	Actual

$	$

13,960 13,960

Variance -Positive (Negative)

$

13,960 13,960

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

12,833	3,583	9,250

1,117	312	805

36,050                           10,065                           25,985 50,000                           13,960                           36,040

Changes in fund balances	(50,000)	50,000

Fund balances (deficits), beginning of year

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

Page 82

Medicaid Reimbursement

Non-GAAP Budget	Actual

Variance -Positive
(Negative)	Budget

E-Rate

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

18,044                           18,044 18,044                           18,044

5,000	5,000

50,000	18,044	31,956

5,000	5,000	50,000	18,044	31,956

(5,000)	5,000	(50,000)	50,000

67	67	254	254

$	(5,000)	$	67	$	5,067	$	(50,000)	$	254	$	50,254

(Continued) Page 83

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, 2015

Other Federal Projects

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

Budget	Actual

$	$

4,534 4,534

Variance -Positive (Negative)

$

4,534 4,534

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

150,000

150,000

4,534	145,466

4,534	145,466

Changes in fund balances	(150,000)	150,000

Fund balances (deficits), beginning of year

Fund balances (deficits), end of year	$	(150,000)	$	$	150,000

Page 84

State Vocational Education

Budget	Actual

Variance -Positive (Negative)

Early Childhood Block Grant

Budget	Actual

Variance -Positive (Negative)

$	$		$	$	$	$ 10,860                           10,860

10,860	10,860

18,614                             8,086 6,386                             2,774

25,000	10,860

10,528	25,000	25,000 3,612

14,140	25,000	25,000

(25,000)	25,000	(25,000)	25,000

$	(25,000)	$	$	25,000	$	(25,000)	$	$	25,000

(Continued) Page 85

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, 2015

Extended School Year - Pupils with Disabilities

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

25,000	25,000

25,000	25,000

(25,000)	25,000

Fund balances (deficits), beginning of year

Fund balances (deficits), end of year	$	(25,000)	$	$	25,000

Page 86

Chemical Abuse Prevention Programs	Gifted

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

10,000

10,000

(10,000)

10,000	25,000	25,000

10,000	25,000	25,000

10,000	(25,000)	25,000

$	(10,000)	$	$	10,000	$	(25,000)	$	$	25,000

(Continued) Page 87

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, 2015

Other State 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

25,000	25,000

25,000	25,000

(25,000)	25,000

Fund balances (deficits), beginning of year

Fund balances (deficits), end of year	$	(25,000)	$	$	25,000

Page 88

School Plant

Non-GAAP Budget	Actual

Variance -Positive (Negative)

Food Service

Budget	Actual

Variance -Positive (Negative)

$	$	35	$	35	$	$	331,410	$	331,410

192,259 35	35	523,669

192,259 523,669

20,558                           18,354                             2,204 168                                150                                  18

50,000	50,000

50,000	50,000

529,274

550,000

507,938	21,336

526,442	23,558

(50,000)	35	50,035	(550,000)	(2,773)	547,227

7,575	7,575	54,624	54,624

$	(50,000)	$	7,610	$	57,610	$	(550,000)	$	51,851	$	601,851

(Continued) 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, 2015

Civic Center

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

Budget	Actual

$	$	7,150

7,150

Variance -Positive (Negative)

$	7,150

7,150

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	50,000	50,000 Capital outlay
Total expenditures	50,000	50,000

Changes in fund balances	(50,000)	7,150	57,150

Fund balances (deficits), beginning of year	959	959

Fund balances (deficits), end of year	$	(50,000)	$	8,109	$	58,109

Page 90

Community School

Budget	Actual

Variance -Positive (Negative)

Auxiliary Operations

Budget	Actual

Variance -Positive (Negative)

$	$	175,523	$	175,523	$	$	694,981	$	694,981

175,523	175,523	694,981	694,981

159,872

140,128

300,000

(300,000)

175,955

154,225

330,180

(154,657)

(16,083)

(14,097)

(30,180)

145,343

199,978 139,074 20,299 115

137,579 2,955 500,000

(500,000)

240,707 167,399 24,433 138

165,600 3,557 601,834

93,147

(40,729) (28,325) (4,134) (23)

(28,021) (602) (101,834)

593,147

77,287	77,287	354,993	354,993

$	(300,000)	$	(77,370)	$	222,630	$	(500,000)	$	448,140	$	948,140

(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, 2015

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

Gifts and Donations

Non-GAAP Budget	Actual

$	$	73,447

73,447

Variance -Positive (Negative)

$	73,447

73,447

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

45,016 22,135 702

32,147 100,000

(100,000)

40,661                             4,355 19,993                             2,142 634                                  68

29,037                             3,110 90,325                             9,675

(16,878)	83,122

Fund balances (deficits), beginning of year	101,581	101,581

Fund balances (deficits), end of year	$	(100,000)	$	84,703	$	184,703

Page 92

Fingerprint

Budget	Actual

Variance -Positive (Negative)

Insurance Proceeds

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	603	$	603	$	$	$

603	603

10,000

10,000

(10,000)

838	9,162

838	9,162

(235)	9,765

5,000	5,000

5,000	5,000

(5,000)	5,000

1,872	1,872	27	27

$	(10,000)	$	1,637	$	11,637	$	(5,000)	$	27	$	5,027

(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, 2015

Textbooks

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

5,000	5,000

5,000	5,000

(5,000)	5,000

Fund balances (deficits), beginning of year	11	11

Fund balances (deficits), end of year	$	(5,000)	$	11	$	5,011

Page 94

Litigation Recovery

Non-GAAP Budget	Actual

Variance -Positive (Negative)

Indirect Costs

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	$	$	$	$

1,000

1,000

(1,000)

1,000	25,000	25,000

1,000	25,000	25,000

1,000	(25,000)	25,000

2	2

$	(1,000)	$	2	$	1,002	$	(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, 2015

Insurance Refund

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	5,000	5,000 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	5,000	5,000

Changes in fund balances	(5,000)	1	5,001

Fund balances (deficits), beginning of year	250	250

Fund balances (deficits), end of year	$	(5,000)	$	251	$	5,251

Page 96

Grants and Gifts to Teachers

Budget	Actual

Variance -Positive (Negative)

Joint Technical Education

Budget	Actual

Variance -Positive (Negative)

$	$	$	$	$	243,779	$	243,779

243,779	243,779

10,000

10,000

(10,000)

10,000	150,000

10,000	150,000

10,000	(150,000)

135,361

135,361

108,418

14,639

14,639

258,418

40	40	(101,347)	(101,347)

$	(10,000)	$	40	$	10,040	$	(150,000)	$	7,071	$	157,071

(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, 2015

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

Totals

Non-GAAP Budget	Actual

$	$	1,529,702 847,627 287,671
2,665,000

Variance -Positive (Negative)

$         1,529,702 847,627 287,671 2,665,000

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

1,953,584 255,931 41,850 50,283 1,117 906,981 71,152 3,280,898

(3,280,898)

1,304,854 210,401 45,866 18,332 312 827,763 42,659 2,450,187

214,813

648,730 45,530 (4,016) 31,951 805 79,218 28,493 830,711

3,495,711

Fund balances (deficits), beginning of year	581,153	581,153

Fund balances (deficits), end of year	$	(3,280,898)	$	795,966	$	4,076,864

Page 98

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 99

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DEBT SERVICE
YEAR ENDED JUNE 30, 2015

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

Budgeted Amounts

Original & Final

$

Actual

$                3,207 919,779 207,140 1,130,126

Variance with Final Budget Positive (Negative)

$                3,207 919,779 207,140 1,130,126

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

Changes in fund balances

550,000 665,000 1,215,000

(1,215,000)

550,000 661,261 1,211,261

(81,135)

3,739 3,739

1,133,865

Fund balances, beginning of year	849,364	849,364

Fund balances (deficits), end of year	$	(1,215,000)	$	768,229	$	1,983,229

Page 100

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 101

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR CAPITAL PROJECTS FUNDS
JUNE 30, 2015

ASSETS
Cash and investments
Due from governmental entities Total assets

Unrestricted Capital Outlay

$
13,160 $	13,160

Adjacent Ways

$	509

$	509

Gifts and Donations -Capital

$	656

$	656

LIABILITIES AND FUND BALANCES Liabilities:
Accounts payable Due to other funds
Total liabilities

$	10,409	$	$ 6,664
17,073

Fund balances (deficits): Restricted
Unassigned
Total fund balances

509	656 (3,913)
(3,913)	509	656

Total liabilities and fund balances	$	13,160	$	509	$	656

Page 102

Emergency Deficiencies
Condemnation	Correction

Building Renewal Grant

New School
Facilities	Totals

$	23	$	3	$	$

$	23	$	3	$	$

33            $                1,224 13,160
33	$	14,384

$	$	$		$	$	10,409 8,373                                                                15,037 8,373                                                                25,446

23	3
(8,373) 23	3	(8,373)

33                             1,224 (12,286)
33	(11,062)

$	23	$	3	$	$	33	$	14,384

Page 103

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, 2015

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

Unrestricted Capital Outlay

$	 6,507 51,070 38,671 96,248

Adjacent Ways

$	4

4

Gifts and Donations -Capital

$	74

74

Expenditures: Capital outlay
Total expenditures

102,389                                                                22,499 102,389                                                                22,499

Changes in fund balances

Fund balances, beginning of year

(6,141)

2,228

4	(22,425)

505	23,081

Fund balances (deficits), end of year	$	(3,913)	$	509	$	656

Page 104

Emergency Deficiencies
Condemnation	Correction

Building Renewal Grant

New School
Facilities	Totals

$	1	$	$	$	1	$	 6,587 51,070 38,671
1	1	96,328

8,417                                                              133,305 8,417                                                              133,305

1	(8,417)	1	(36,977)

22	3	44	32	25,915

$	23	$	3	$	(8,373)	$	33	$	(11,062)

Page 105

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2015

Unrestricted Capital Outlay

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

Budget	Actual

$	$	 6,507 51,070 38,671 96,248

Variance -Positive (Negative)

$	 6,507 51,070 38,671 96,248

Expenditures: Capital outlay
Total expenditures

Changes in fund balances

121,023 121,023

(121,023)

102,389 102,389

(6,141)

18,634 18,634

114,882

Fund balances, beginning of year	2,228	2,228

Fund balances (deficits), end of year	$	(121,023)	$	(3,913)	$	117,110

Page 106

Adjacent Ways

Budget	Actual

Variance -Positive (Negative)

Gifts and Donations - Capital

Budget	Actual

Variance -Positive (Negative)

$	$	4	$	4	$	$	74	$	74

4	4	74	74

50,000                           22,499                           27,501 50,000                           22,499                           27,501

4	4	(50,000)	(22,425)	27,575

505	505	23,081	23,081

$	$	509	$	509	$	(50,000)	$	656	$	50,656

(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 CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2015

Condemnation

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

Budget	Actual

$	$	1

1

Variance -Positive (Negative)

$	1

1

Expenditures:
Capital outlay                                                                                                 500                                                                     500 Total expenditures                                                                                 500                                                                     500

Changes in fund balances	(500)	1	501

Fund balances, beginning of year	22	22

Fund balances (deficits), end of year	$	(500)	$	23	$	523

Page 108

Emergency Deficiencies Correction	Building Renewal Grant

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

8,417 8,417

(8,417)

(8,417) (8,417)

(8,417)

3	3	44	44

$	$	3	$	3	$	$	(8,373)	$	(8,373)

(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 CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2015

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
Total expenditures

Changes in fund balances	1	1

Fund balances, beginning of year	32	32

Fund balances (deficits), end of year	$	$	33	$	33

Page 110

Totals

Budget	Actual

Variance -Positive (Negative)

$	$	 6,587	$	6,587 51,070                           51,070 38,671                           38,671 96,328                           96,328

171,523 171,523

(171,523)

133,305 133,305

(36,977)

38,218 38,218

134,546

25,915	25,915

$	(171,523)	$	(11,062)	$	160,461

Page 111

(This page intentionally left blank)

Page 112

AGENCY FUND

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

Page 113

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUND
YEAR ENDED JUNE 30, 2015

Beginning

Balance	Additions	Deductions

Ending

Balance

STUDENT ACTIVITIES FUND

Assets

Cash and investments

Total assets

Liabilities

Due to student groups

Total liabilities

$	116,774	$

$	116,774	$

$	116,774	$

$	116,774	$

492,813	$

492,813	$

492,813	$

492,813	$

468,666	$

468,666	$

468,666	$

468,666	$

140,921

140,921

140,921

140,921

Page 114

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.

Page 115

(This pa1ge intentionally left blank)

Page 116

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

2015

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

2010

$	 9,639,277 1,409,409 6,353,513
$	17,402,199

2014

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

2009

$	10,193,084 1,782,334 4,309,304
$	16,284,722

2013

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

2008

$	 8,394,898 1,493,586 5,763,809
$	15,652,293

2012

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

2007

$         7,610,523 766,493 4,992,270
$	13,369,286

2011

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

2006

$         6,848,561 657,227 4,478,249
$	11,984,037

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

Page 117

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.

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 118

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

2010

$         6,734,215 1,136,111 1,680,781 1,078,542 633,464 517,588
60,124 11,840,825

2009

$         7,762,695 1,138,342 1,525,808 1,213,598 637,986 547,764 110,315 12,936,508

2008

$         7,686,593 1,162,706 1,555,981 1,314,067 720,856 587,168 159,664 13,187,035

2007

$         7,445,761 986,463 1,569,113 1,280,082 763,859 461,551 214,322 12,721,151

2006

$         7,754,453 845,771 1,323,410 1,030,897 635,004 392,809 266,297 12,248,641

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

320,529 480,402 108,670 1,084,317 15,363 2,009,281

191,023 103,428 450,367 933,630 21,497 1,699,945

229,463 422,470 100,830 865,536 35,340 1,653,639

145,034 555,437 20,260 440,734 12,000 1,173,465

265,273 508,082 16,006 455,424

1,244,785

Net (Expense)/Revenue	$	(9,831,544)	$	(11,236,563)	$	(11,533,396)	$	(11,547,686)	$	(11,003,856)

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

(Concluded) Page 119

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.

Note:

Page 120

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)

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

2010	2009	2008	2007	2006

Net (Expense)/Revenue	$	(9,831,544)	$	(11,236,563)	$	(11,533,396)	$	(11,547,686)	$     (11,003,856)

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

4,626,466 918,273

89,188 194,609 4,405,999 714,486 10,949,021

5,378,968 1,134,293 388,769 125,772 2,613 4,838,577

11,868,992

5,763,693 1,784,578 261,272 273,152

5,733,708

13,816,403

5,537,815 1,273,146 321,409 290,678 2,408 5,507,479

12,932,935

5,316,474 1,169,000 233,665 203,762 215,332 5,362,212

12,500,445

Changes in Net Position	$	1,117,477	$	632,429	$	2,283,007	$	1,385,249	$	1,496,589

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

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

(Concluded)

Page 121

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

2015

$		$ 2,316,261

2014

$ 2,474,660

2013

$ 2,495,796

2012

$ 3,707,704

2011

203,440 4,616,782

Total General Fund	 $	2,316,261   $	2,474,660   $	2,495,796   $	3,707,704   $	4,820,222 

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

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

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

1,527,268	$

1,527,268	$

1,468,385	$

1,468,385	$

4,107,461

4,107,461

(Continued)

Page 122

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

General Fund: Reserved Unreserved
Total General Fund

All Other Governmental Funds: Reserved
Unreserved, reported in: Special revenue funds Capital projects funds Debt service fund
Total all other governmental funds

2010

$	 104,348	$ 4,169,785
$	4,274,133	$

$	$

1,180,953 14,627,820 438,653
$	16,247,426	$

2009

27,481	$ 3,565,116 3,592,597        $

5,061	$

1,086,900 1,050,592 688,342
2,830,895	$

2008

41,826	$ 3,094,754 3,136,580	$

6,368	$

1,833,467 688,542 593,694
3,122,071	$

2007

39,041	$ 2,067,602 2,106,643	$

15,184	$

2,204,896 544,164 170,303
2,934,547	$

2006

182,275 1,488,921 1,671,196

14,234

2,206,728 527,400 97,033 2,845,395

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

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

(Concluded)

Page 123

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
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 11,058 1,436,769 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

(Continued)

Page 124

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) 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

2010

$	650,149	$ 714,486 117,030
1,481,665

3,856,443 4,427

421,539 4,282,409

5,598,296 194,609 369,979 89,188 867,696 7,119,768
$	12,883,842	$

2009

462,687	$

95,996 558,683

4,412,569 15,801

470,711 4,899,081

7,184,854 2,613 357,958 125,776 748,209 8,419,410
13,877,174	$

2008

382,909	$

82,250 465,159

4,911,590 23,062 49,682 747,023 5,731,357

7,554,479

339,407 273,152 844,528 9,011,566
15,208,082	$

2007

333,402

90,313 423,715

4,884,632 17,019 99,359 523,488 5,524,498

7,080,927 2,408 248,476 290,678 454,624 8,077,113 14,025,326

2006

$	364,319

82,681 447,000

4,741,265 91,802 79,462 458,107 5,370,636

6,669,080 215,332 267,164 203,762 522,197 7,877,535
$	13,695,171

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

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

(Concluded)

Page 125

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. Notes:

(Continued)

Page 126

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

2010	2009	2008	2007	2006

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 -

Claims and judgments Interest and fiscal charges Principal retirement
Bond issuance costs Total expenditures

Expenditures for capitalized assets

$          6,094,038 1,126,222 1,652,044 1,123,431 545,268
483,339 613,115

56,475 1,160,000 203,800
$	13,057,732

$	475,506

$	 7,113,082	$ 1,118,350 1,493,891 1,094,962
565,153 532,602 519,770

38,556 110,315 1,110,000

$	13,696,681	$

$	242,086	$

6,918,375 1,151,946 1,474,986 1,245,946 586,868 559,977 826,828

159,664 1,060,000

13,984,590

521,475

$          6,773,719 926,638 1,464,535 1,102,254 614,691
439,499 817,785

214,322 1,005,000

$	13,358,443

$	440,972

$          7,197,018 815,654 1,249,109 1,099,973 562,896
368,074 482,684

266,297 950,000

$	12,991,705

$	206,975

Debt service as a percentage of

noncapital expenditures	11%	9%	9%	9%	10%

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

Page 127	(Concluded)

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

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)

2010	2009	2008	2007	2006

Excess (deficiency) of

revenues over expenditures	$	(173,890)	$	180,493	$	1,223,492	$	666,883	$	703,466

Other financing sources (uses): Issuance of school improvement bonds Premium on sale of bonds
Transfers in Transfers out
Total other financing sources (uses)

14,000,000 200,151 37,720
(37,720)

14,200,151

205,748

(205,748)

1,427

(1,427)

1,783

(1,783)

1,782

(1,782)

Changes in fund balances	$	14,026,261	$	180,493	$	1,223,492	$	666,883	$	703,466

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

Page 128

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

PRIMARY ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY BY CLASS LAST TEN FISCAL YEARS

Fiscal Year

Class	2015	2014	2013	2012	2011

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

Certain Government Property Improvements

Total

Estimated Actual Value (Full Cash Value)

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

$	168,680,927

$ 1,721,553,223

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

$	170,152,349

$ 1,728,748,371

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

$	184,135,116

$ 1,861,329,633

$           6,240,606 27,443,331 161,144,061 4,498,664
57,482 9,435

$	199,393,579

$ 2,003,464,671

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

$	220,341,469

$ 2,235,227,040

Ratio of Primary Assessed Value to Estimated Actual Value

Total Direct Rate

10%	10%	10%	10%	10%

5.03	5.00	4.15	3.80	3.35

Fiscal Year

Class	2010	2009	2008	2007	2006

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

Total

Estimated Actual Value (Full Cash Value)

$           7,178,113 28,972,009 178,059,958 4,114,000
57,243

$	218,381,323

$ 2,324,387,909

$           7,444,314 25,926,129 162,264,230 3,469,371
52,186

$	199,156,230

$ 1,943,053,074

$           7,423,812 22,168,604 142,425,872 3,272,474
47,424

$	175,338,186

$ 1,975,056,876

$           7,057,463 19,408,417 125,963,607 2,869,395
42,559

$	155,341,441

$ 1,640,754,290

$           7,035,421 15,812,373 104,766,219 2,272,615
17,778

$	129,904,406

$ 1,407,367,659

Ratio of Primary Value to Estimated Actual Value

Total Direct Rate

9%	10%

3.18	4.37

9%	9%	9%

5.10	5.48	5.79

Source: The source of this information is the State and County Abstract of the Assessment Roll, Arizona Department of Revenue. Note: The primary assessed value generates revenues for general District operations.

Page 129

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 SECONDARY ASSESSED VALUE OF TAXABLE PROPERTY BY CLASS
LAST TEN FISCAL YEARS

Fiscal Year

Class	2015	2014	2013	2012	2011

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

Total

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

$	169,220,355	$

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

170,709,751	$

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

184,878,059	$

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

201,148,242	$

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

227,509,021

Ratio of Secondary Assessed Value to Estimated Actual Value

Total Direct Rate

10%	10%

5.03	5.00

10%	10%	10%

4.15	3.80	3.35

Fiscal Year

Class	2010	2009	2008	2007	2006

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

Total

$	 7,481,560	$ 37,914,344
189,234,195 4,406,724 61,884

$	239,098,707	$

8,075,955	$ 38,602,352
187,616,164 4,078,632 60,823

238,433,926	$

7,580,440	$ 31,645,592
160,592,930 3,793,117 58,048

203,670,127	$

7,189,411	$ 26,701,611
132,887,737 3,139,078 48,650

169,966,487	$

7,531,358 18,168,276 141,734,509 2,447,681 21,392

169,903,216

Ratio of Secondary Assessed Value to Estimated Actual Value

Total Direct Rate

10%	12%

3.18	4.37

10%	10%	12%

5.10	5.48	5.79

Source:

Note:

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

The secondary assessed value generates revenues to service District bonded debt requirements and other voter-approved overrides.

Page 130

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

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

Fiscal Year

Class	2010	2009	2008	2007	2006

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

22 %	23 %	24 %	25 %	25 % 16	16	16	16	16
10                       10                       10                      10                      10 10                       10                       10                      10                      10
18	20	21	22	21

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 131

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	City Arizona              of

Pima	Tanque	District Direct Rates County       Verde Valley

June 30 Equalization	County

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 2010	0.33	4.02 2009	0.00	4.00 2008	0.00	4.29 2007	0.00	4.56
2006	0.00	4.79

Library

0.44 0.38 0.35 0.35 0.31 0.26 0.34 0.40 0.37
0.26

District

0.30 0.26 0.26 0.26 0.26 0.26 0.29 0.34 0.37
0.37

District

1.33 1.29 1.17 1.11 1.08 1.08 1.14 1.18 1.25
1.31

Assistance	Water	Tucson	JTED

0.05	0.14	1.46	0.05 0.05	0.14	1.43	0.05 0.04	0.10	1.26	0.05 0.04	0.10	1.16	0.05 0.04	0.10	0.96	0.05 0.04	0.10	0.93	0.05 0.04	0.10	0.96	0.05 0.04	0.10	1.13	0.05 0.04	0.12	1.23	0.00
0.04	0.12	1.24	0.00

F.D.	Primary

1.00	3.89 1.41	3.80 1.26	3.00 1.15	2.72 1.27	2.37 1.16	2.37 1.26	3.42 1.37	3.78 0.00	4.09
0.00	4.25

Secondary	Total

1.14	5.03 1.20	5.00 1.15	4.15 1.08	3.80 0.98	3.35 0.81	3.18 0.95	4.37 1.32	5.10 1.39	5.48
1.54	5.79

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

Page 132

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

2015	2006

Secondary Assessed
Taxpayer	Valuation

Percentage of District's Net Assessed Valuation

Secondary Assessed Valuation

Percentage of District's Net Assessed Valuation

Unisource Energy Group Southwest Gas Company Arizona Sunshine Ranches Landmark Title
Galiuro TR
Quest Communications MPL communications, Inc. Regina Revoc Living
Reay Gordon & Lois Family Epidaurus
Lawyers Title of AZ TR 8003-T Private Individual
Private Individual 49er Country Club Private Individual

2,702,673 1,250,710 1,009,593 617,586 481,499 470,227 389,379 373,041 277,349 271,528

$	7,843,585

1.60	%	$	2,295,733	1.35 % 0.74                          1,199,825	0.71 0.60                          1,005,952	0.59 0.36
0.28
0.28	1,404,048	0.83 0.23                             675,148	0.40 0.22
0.16 0.16
549,772	0.32 541,478	0.32 364,688	0.21 356,046	0.21 317,657	0.19
4.63	%	$	8,710,347	5.13 %

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

Page 133

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

2015	$	6,566,441 2014                       6,614,750 2013                       6,005,212 2012                       5,929,011 2011                       5,814,400 2010                       5,533,500 2009                       7,225,380 2008                       7,530,783 2007                       7,095,240
2006	6,708,575

$      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 5,303,895                    95.85 6,880,902                    95.23 6,931,228                    92.04 6,840,635                    96.41
6,473,472	96.50

N/A 240,969 208,881 216,370 217,813 228,413 344,454 599,531 254,586
235,083

$      6,358,769                      96.84 % 6,601,458                      99.80 5,997,142                      99.87 5,927,414                      99.97 5,813,366                      99.98 5,532,308                      99.98 7,225,356                    100.00 7,530,759                    100.00 7,095,221                    100.00
6,708,555	100.00

Source: The source of this information is the 2015 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 monthlyrolls vary each year. On the average, 90% of unsecured property taxes are collected within 90 days after the due date.

Page 134

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS

General Obligation Bonds	Total Outstanding Debt

Fiscal

Year            General Ended        Obligation
June 30	Bonds

Less: Amounts Restricted
for Principal

Percentage of Estimated
Actual Value	Per

Total	(Full Cash Value)	Capita

Percentage of Estimated
Actual Value

Total	(Full Cash Value)

Percentage of Per	Personal
Capita	Income

2015	$ 11,785,000 2014            12,335,000 2013            13,370,000 2012            13,790,000 2011            14,000,000 2010            15,160,000 2009              2,270,000 2008              3,330,000 2007              4,335,000
2006	5,285,000

$	782,653 853,522 914,438 890,156 776,359 459,928 721,445 797,846 211,638
123,953

11,002,347 11,481,478 12,455,562 12,899,844 13,223,641 14,700,072 1,548,555 2,532,154 4,123,362
5,161,047

0.64 %	$	786 0.66                            820 0.67                            890 0.64                            921 0.59                            945 0.63                         1,050 0.08                            155 0.13                            253 0.25                            412
0.37	430

$ 11,785,000 12,335,000 13,370,000 13,790,000 14,000,000 15,160,000 2,270,000 3,330,000 4,335,000
5,285,000

0.68 %	$	842	N/A % 0.71                            881                        0.03 0.72                            955                        0.04 0.69                            985                        0.04 0.63                         1,000                        0.04 0.65                         1,083                        0.04 0.12                            227                        0.01 0.17                            333                        0.01 0.26                            434                        0.01
0.38	440	0.02

Source: The source of this information is the District's financial records. Note: N/A indicates that the information is not available.

Page 135

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
JUNE 30, 2015

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

$ 1,324,925,019 1,355,000 598,999,368

2.42 %      $     32,063,185 2.42                          32,791 5.93                   35,520,663 67,616,639

Direct:

Tanque Verde Unified School District No. 13	100.00	11,785,000

Total Direct and Overlapping Governmental Activities Debt	$	79,401,639

DIRECT AND OVERLAPPING GENERAL BONDED DEBT RATIOS

Net Direct General Obligation Bonded Debt

As a Percentage of Net Secondary Assessed Valuation	6.50 %

Net Direct and Overlapping General Bonded Debt

Per Capita	$	5,616

As a Percentage of Net Secondary Assessed Valuation                                                 46.46 % As a Percentage of Estimated Actual Value (Full Cash Value)                                       4.57 %

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 the District's secondary assessed valuation as a percentage of the secondary assessed valuation of the overlapping jurisdiction.
2) Outstanding debt as of June 30, 2014 is presented for the overlapping governments as this is the most recent available information.

Page 136

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 2015:	Total Legal Debt Margin Calculation for Fiscal Year 2015:

Secondary assessed valuation Debt limit (20% of assessed value) Debt applicable to limit
Legal debt margin

$	169,220,355 33,844,071 11,785,000
$	22,059,071

Secondary assessed valuation Debt limit (30% of assessed value)

Debt applicable to limit Legal debt margin

$	169,220,355 50,766,107 11,785,000
$	38,981,107

Fiscal Year Ended June 30

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%

2010	2009	2008	2007	2006

Debt Limit	$	71,729,612	$	71,530,178	$	61,101,038	$	50,989,946	$	50,970,965

Total net debt applicable to limit	15,160,000	2,270,000	3,330,000	4,335,000	5,285,000

Legal debt margin	$	56,569,612	$	69,260,178	$	57,771,038	$	46,654,946	$	45,685,965

Total net debt applicable to the limit

as a percentage of debt limit	21%	3%	5%	9%	10%

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 and the statutory debt limit on Class B bonds. The calculations of the debt margins are presented in detail for the current fiscal year only.
2) Bond premium is not subject to the statutory debt limit.

Page 137

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

2014	1,004,516	$ 2013                   996,554 2012                   992,394 2011                   986,081 2010                   980,263 2009	1,018,012 2008	1,012,018 2007	1,003,235 2006                   981,280 2005                   957,635

N/A	$	N/A 36,935,363                       37,063 35,813,670                       35,371 36,058,871                       36,335 34,360,759                       34,987 34,516,424                       33,833 34,392,945                       34,058 31,646,777                       31,755 29,806,619                       31,418 26,703,829                       28,869

6.2	%	14,000 7.0                            14,000 7.2                            14,000 9.1                            14,000 9.0                            14,000 8.3                            14,000 5.1                            10,000 3.8                            10,000 4.0                            10,000 4.6                            12,000

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 from 2005 through 2010 is the University of Arizona, Eller College of Management, Economic and Business Research Center. For 2011 through 2014, the source of the information is the Arizona Office of Employment and Population Statistics. N/A indicates that the information is not available.

Page 138

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

2015	2006

Percentage of Total
Employer	Employees	Employment

Percentage of Total
Employees	Employment

University of Arizona Raytheon Missile Systems State of Arizona
Davis Monthan AFB Pima County
Tucson Unified School District University of Arizona Health Network U.S. Army Intelligence Center
Fort Huachuca

Freeport-McMoran Mining Wal-Mart Stores, Inc. Phelps Dodge Mining Co. City of Tucson
Carondelet Health Network

Total

11,047	2.63     % 9,933	2.37 9,439	2.25 8,933	2.13 7,328	1.75 5,751	1.37 6,329	1.51

5,717	1.36 5,600	1.33 5,200	1.24

75,277	17.94     %

10,282	2.46 % 10,756	2.57
9,742                          2.33 8,233                          1.97

7,623	1.82

13,098	3.13

4,980	1.19 4,123	0.99 5,306	1.27 3,751	0.90

77,894	18.63 %

Total employment	419,900	418,111

Source: The source of this information is Arizona Daily Star - Star 200 and Bureau of Labor Statistics.

Page 139

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

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

(Continued)

Page 140

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE
LAST TEN FISCAL YEARS

2010	2009	2008	2007	2006

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	3	3	3 1	1	2	2	1 9	9	9	9	8

105                        103                          95                          95                          88 1                            1                            1                            1                            1 40                          37                          35                          35                          23 146                        141                        131                        131                        112

3	3	3	3	3 1	1	1	1	1 4	4	4	4	4

74                          71                          72                          72                          44 74                          71                          72                          72                          44

233	225	216	216	168

Source: The source of this information is District personnel records.

(Concluded)

Page 141

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

2015                        1,997 2014                        1,915

$     14,982,054         $      7,502 14,364,038                7,501

0.02 %     $        17,129,164         $      8,577 2.23                    16,068,026                8,391

2.23 %	184	10.9	15.0     % 1.86	178	10.8	16.0

2013	1,847 2012	1,687 2011	1,583 2010	1,500 2009	1,402 2008	1,299 2007	1,425 2006	1,342 2005	1,326

13,551,614 12,876,311 12,107,202 11,024,342 11,918,040 11,938,098 11,321,336 11,292,724 11,292,724

7,337	(3.87) 7,633	(0.20) 7,648                    4.06 7,350                 (13.54) 8,501	(7.50) 9,190                  15.68 7,945	(5.59) 8,415	(1.19) 8,516               #DIV/0!

15,213,819	8,237 14,846,614	8,801 13,841,060	8,744 11,840,825	7,894 12,936,508	9,227 13,187,035              10,152 12,721,151	8,927 12,248,641	9,127 12,681,719	9,564

(6.40) 0.65
10.76 (14.45)
(9.11) 13.72
(2.19) (4.57) #DIV/0!

172	10.7	15.9 163	10.3	14.1 154	10.3	41.8 146	10.3	12.0 141                   9.9                      9.6 131                   9.9                      8.3 131	10.9                      8.3 112	12.0                      8.0

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 142

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 CAPITAL ASSETS INFORMATION LAST TEN FISCAL YEARS

Fiscal Year Ended June 30

2015	2014	2013	2012	2011	2010	2009	2008	2007	2006

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

2                         2                         2                         2 98,371                98,371                98,371                98,371 1,100                  1,100                  1,100                  1,050 1,130                  1,138                  1,087                  1,040

1                         1                         1                         1 57,124                57,124                57,124                57,124 450                     450                     450                     450 376                     371                     367                     350

1                         1                         1                         1 94,194                94,194                94,194                94,194 650                     650                     650                     650 555                     479                     449                     375

4                         4                         4                         4 10,178                10,178                10,178                10,718

1                         1                         1                         1 14,425                14,425                14,425                14,425

1                         1                         1                         1 17                       17                       17                       17

1	1	1	1 4	4	4	3 3	3	3	7 3	3	3	3

2                         2 98,371                98,371 1,050                  1,000 1,025                     975

1                         1 57,443                57,443 370                     370 340                     310

1                         1 17,100                17,100 230                     230 330                     350

1                         1 758                     758

1                         1 40,211                40,211

1                         1 17                       17

1	1 2	2 6	6 3	3

2                         2                         2                         2 98,371                98,371                98,371                98,371 1,000                  1,000                  1,000                  1,000 924                     834                     884                     872

1                         1                         1                         1 57,443                57,443                57,443                57,443 370                     370                     455                     455 308                     322                     325                     307

1                         1                         1                         1 17,100                17,100                17,100                17,100 230                     230                     150                     150 260                     194                     132                       98

1                         1                         1                         1 758                     758                     758                     758

1                         1                         1                         1 40,211                40,211                40,211                40,211

1                         1                         1                         1 17                       17                       17                       16

1	1	1	1 2	2	2	2 6	6	6	6 3	3	3	3

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

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