TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

Comprehensive Annual Financial Report

Fiscal Year Ended June 30, 2017

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TUCSON, ARIZONA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2017

Issued by: Business Office

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

INTRODUCTORY SECTION	Page

Letter of Transmittal	1

ASBO Certificate of Excellence	6

GFOA Certificate of Achievement	7

Organizational Structure	8

List of Principal Officials	9

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT	13

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

BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements:

Statement of Net Position	30

Statement of Activities	31

Fund Financial Statements:

Balance Sheet – Governmental Funds	34

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

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

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

FINANCIAL SECTION	Page

BASIC FINANCIAL STATEMENTS

Statement of Assets and Liabilities – Fiduciary Funds	41

Notes to Financial Statements	42

REQUIRED SUPPLEMENTARY INFORMATION

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

General Fund	66

Special Education Grants Fund	67

Schedule of Proportionate Share of the Net Pension Liability	68

Schedule of Contributions	68

Notes to Required Supplementary Information	69

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

Governmental Funds:

Combining Balance Sheet – All Non-Major Governmental Funds –
By Fund Type	74

Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – All Non-Major Governmental Funds – By Fund Type	76

Special Revenue Funds:

Combining Balance Sheet	80

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

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

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	114

Capital Projects Funds:

Combining Balance Sheet	116

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

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

Agency Funds:

Combining Statement of Assets and Liabilities	128

Combining Statement of Changes in Assets and Liabilities	129

STATISTICAL SECTION

Financial Trends:

Net Position by Component	133

Expenses, Program Revenues, and Net (Expense)/Revenue	134

General Revenues and Total Changes in Net Position	136

Fund Balances – Governmental Funds	138

Governmental Funds Revenues	140

Governmental Funds Expenditures and Debt Service Ratio	142

Other Financing Sources and Uses and Net Changes in Fund
Balances – Governmental Funds	144

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

TABLE OF CONTENTS

STATISTICAL SECTION	Page

Revenue Capacity:

Net Limited Assessed Value and Full Cash Value of Taxable Property by Class	145

Net Full Cash Assessed Value of Taxable Property by Class	146

Property Tax Assessment Ratios	147

Direct and Overlapping Property Tax Rates	148

Principal Property Taxpayers	149

Property Tax Levies and Collections	150

Debt Capacity:

Outstanding Debt by Type	151

Direct and Overlapping Governmental Activities Debt	152

Direct and Overlapping General Bonded Debt Ratios	152

Legal Debt Margin Information	153

Demographic and Economic Information:

County-Wide Demographic and Economic Statistics	154

Principal Employers	155

Operating Information:

Full-Time Equivalent District Employees by Type	156

Operating Statistics	158

Capital Assets Information	159

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INTRODUCTORY SECTION

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

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

February 26, 2018

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, 2017.

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, 2017, 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, 2017, are fairly presented in conformity with accounting principles generally accepted in the United States of America. The independent auditor’s report is presented as the first component of the financial section of this report.

District Administration: Dr. Scott Hagerman, Superintendent; Adam Hamm, Business Manager Governing Board: Carlos Ruiz, President; Members: Steven Auslander, Susan Fry, Jeffrey Neff, Jeremy Schalk

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

PROFILE OF THE DISTRICT

The District is one of 18 public school districts located in Pima County, Arizona. It provides a program of public education from preschool through grade 12, with current enrollment of approximately 2,040 students. The average age of the District’s buildings is 27 years.

The District’s Governing Board is organized under Section 15-321 of the Arizona Revised Statutes (A.R.S.). Management of the District is independent of other state or local governments. The County Treasurer collects taxes for the District, but exercises no control over its expenditures/expenses.

The membership of the Governing Board consists of five members elected by the public. Under existing statutes, the Governing Board’s duties and powers include, but are not limited to, the acquisition, maintenance and disposition of school property; the development and adoption of a school program; and the establishment, organization and operation of schools. The Board also has broad financial responsibilities, including the approval of the annual budget, and the establishment of a system of accounting and budgetary controls.

The financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity in conformity with generally accepted accounting principles. The District is a primary government because it is a special-purpose government that has a separately elected governing body, is legally separate, and is fiscally independent of other state or local governments. Furthermore, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity. Consequently, the District’s financial statements include only the funds of those organizational entities for which its elected governing board is financially accountable. The District’s major operations include education, student transportation, construction and maintenance of District facilities, and food services.

The District is located entirely in Pima County on the far east side of Tucson. The District is bounded on the north and east borders by the Coronado National Forest and by the Saguaro National Park as well as the Tucson Unified School District to the west and Vail School District to the south. The primary assessed valuation increased 1.93% during the 2016-17 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 “bedroomcommunity” with residents being in a retired status, or working in professional occupations in the Tucson area for IBM, the University of Arizona, or Raytheon.

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

Lastly, the District continues its membership in the Pima County Joint Technological Education District (JTED). Through JTED, the District offers its students enhanced career and technical education opportunities in such fields as computer technology, drafting and design, graphic communications, health care, and agriculture-science. Enrollment in this program exceeds 150 students, around 28% or our High School population, and continued program offerings will enable our students to receive college credit by successfully completing the required course work. The JTED academic offerings at TVHS have been bolstered with an expansion of the veterinary science program and the expansion of an engineering/precision manufacturing program.

The annual expenditure budget serves as the foundation for the District’s financial planning and control. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual expenditure budget approved by the District’s Governing Board.

The expenditure budget is prepared by fund for all Governmental Funds, and includes function and object code detail for the General Fund and some Special Revenue and Capital Projects Funds. The legal level of budgetary control (that is, the level at which expenditures cannot exceed the appropriated amount) is established at the individual fund level for all funds. Funds that are not required to legally adopt a budget may have overexpenditures of budgeted funds. The budget for these funds is simply an estimate and does not prevent the District from exceeding the budget as long as the necessary revenue is earned. The District is not required to prepare an annual budget of revenue; therefore, a deficit budgeted fund balance may be presented. However, this does not affect the District’s ability to expend monies.

FACTORS AFFECTING FINANCIAL CONDITION

The information presented in the financial statements is perhaps best understood when it is considered from the broader perspective of the specific environment within which the District operates.

Local Economy. The economy of the District is centered on Pima County, which has a population of 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.

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

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 in 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 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 17 years (the savings started in 2012-13). This was the initiative in conjunction with the Tucson Electric Power Company’s Energy Rebate Program; a solar company completed a $5.0 million lease purchase solar project in 2012 on the District’s campuses. The project was 100% paid for by the solar company.

With the prior sale of general obligation bonds in the principal amount not to exceed $14,000,000 in 2009, and the Arizona School Facilities Board award in fiscal year 2009-10, the District was able to make substantial additions and upgrades to its facilities. We built the Emily Gray Junior High School, added building upgrades at the three other school sites, and also added approximately 21,000 square feet of new classroom space at Tanque Verde High School. Student enrollment has remained stable and is anticipated to do so, holding at or around 2,040 students District-wide.

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.

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, 2016. This was the twenty-third 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, 2016. 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.

AWARDS AND ACKNOWLEDGMENT

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, 2017 certificates.

Acknowledgments. The preparation of the comprehensive annual financial report on a timely basis was made possible by the dedicated service of the entire staff of the business office. Each member of the department has our sincere appreciation for the contributions made in the preparation of this report.

In closing, without the leadership and support of the Governing Board of the District, preparation of this report would not have been possible.

Respectfully submitted,

Dr. Scott Hagerman Superintendent

Adam Hamm Business Manager

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

LIST OF PRINCIPAL OFFICIALS

GOVERNING BOARD

Carlos Ruiz, President

Jeffrey M. Neff, Clerk

Steven Auslander, Member

Susan Fry, Member

Jeremy Schalk, Member

ADMINISTRATIVE STAFF

Dr. Scott Hagerman Superintendent

Adam Hamm Business Manager

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FINANCIAL SECTION

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INDEPENDENT AUDITOR’S REPORT

Governing Board
Tanque Verde Unified School District No. 13

Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Tanque Verde Unified School District No. 13 (District), as of and for the year ended June 30, 2017, 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, 2017, 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.

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 February 26, 2018, 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. Tucson, Arizona
February 26, 2018

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, 2017

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, 2017. 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 $319,347 which represents an 20 percent decrease from the prior fiscal year due to continued expense levels that exceed available revenues.

•	General revenues accounted for $14.0 million in revenue, or 83 percent of all current fiscal year revenues. Program specific revenue in the form of charges for services and grants and contributions accounted for $2.8 million or 17 percent of total current fiscal year revenues.

•	The District had approximately $17.2 million in expenses related to governmental activities, a decrease of one percent from the prior fiscal year.

•	Among major funds, the General Fund had $13.3 million current fiscal year revenues, which primarily consisted of state aid and property taxes, and $12.6 million in expenditures. The General Fund’s fund balance increase from $1.8 million at the prior fiscal year end to $2.5 million at the end of the current fiscal year was primarily due to increased property tax revenue allocations.

•	The Special Education Grants Fund had $275,543 in revenues and total expenditures were $275,543.

•	 The Unrestricted Capital Outlay Fund had $108,019 in revenues and total expenditures were $454,333. The Unrestricted Capital Outlay Fund’s fund balance decrease from $15,353 at the prior fiscal year end to a deficit fund balance of $158,902 was primarily due to a decrease in property tax revenue allocations and increased debt service costs associated with capital leases.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

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 Unrestricted Capital Outlay 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 and pension plan. The District adopts an annual expenditure budget for all governmental funds. A schedule of revenues, expenditures and changes in fund balances – budget and actual has been provided for the General Fund and the major special revenue fund as required supplementary information. Schedules for the pension plan have been provided as required supplementary information.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Net position may serve over time as a useful indicator of a government’s financial position. In the case of the District, assets and deferred outflows exceeded liabilities and deferred inflows by $1.3 million at the current fiscal year end.

The largest portion of the District’s net position reflects its investment in capital assets (e.g., land and improvements, buildings and improvements, and vehicles, furniture and equipment), less any related outstanding debt used to acquire those assets. The District uses these capital assets to provide services to its students; consequently, these assets are not available for future spending. Although the District’s investment in its capital assets is reported net of related outstanding debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. In addition, a portion of the District’s net position represents resources that are subject to external restrictions on how they may be used.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

GOVERNMENT-WIDE FINANCIAL ANALYSIS

The following table presents a summary of the District’s net position for the fiscal years ended June 30, 2017 and June 30, 2016.

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, 2017
$       3,966,903 24,081,912
	28,048,815 

2,850,632

650,715 27,037,069
	27,687,784 

1,897,560

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

As of June 30, 2016
$       4,021,905 24,641,852
	28,663,757 

2,010,559

617,521 27,115,636
	27,733,157 

1,393,107

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

The District’s financial position is the product of several financial transactions including the net result of activities, the acquisition and payment of debt, the acquisition and disposal of capital assets, and the depreciation of capital assets.

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

	The addition of $795,559 in accumulated depreciation through current year depreciation expense.

	 The addition of $235,619 in capital assets through other school improvements and purchases of vehicles, furniture and equipment.

	The principal retirement of $625,000 in bonds payable. 	The increase of $560,911 in pension liabilities.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Changes in net position. The District’s total revenues for the current fiscal year were $16.9 million. The total cost of all programs and services was $17.2 million. The following table presents a summary of the changes in net position for the fiscal years ended June 30, 2017 and June 30, 2016.

Revenues: Program revenues:

Fiscal Year Ended
June 30, 2017

Fiscal Year Ended
June 30, 2016

Charges for services

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

Changes in net position Net position, beginning
Net effect of prior period adjustments Net position, beginning restated
Net position, ending

$        1,729,527 1,083,363 32,980

7,159,150 25,268 414,860 6,416,947 16,862,095

9,324,714 1,698,074 2,145,503 1,738,247 669,216 945,803 659,885 17,181,442
(319,347) 1,548,052
85,398 1,633,450
$	1,314,103

$        1,595,714 846,658 95,214

7,309,835 16,399 402,109 6,323,234 16,589,163

10,021,236 1,584,374 2,234,179 1,535,988 501,094 873,531 666,341 17,416,743
(827,580) 3,257,735
(882,103) 2,375,632
$	1,548,052

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Expenses - FiscalYear2017

Student transportation services 4%

Operation of non-instructional services 6%

Interest on long-term debt 4%

Operation and maintenance of plant services 10%

Instruction 54%

Support services -administration 12%

Support services -students and staff 10%

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

	The $696,522 decrease in expenses for instruction was primarily due to reductions in spending and proper classification of expenditures.

	Operating grants and contributions increased $236,705 due to increased bond subsidies.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Year Ended June 30, 2017	Year Ended June 30, 2016

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

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

$ (8,069,845) (1,653,466) (2,145,503) (1,679,629) (669,216)
237,590

(355,503)

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

$ (8,832,115) (1,487,849) (2,234,179) (1,526,669) (501,094)
264,961

(562,212)

Total	$ 17,181,442	$ (14,335,572)	$ 17,416,743	$ (14,879,157)

	The cost of all governmental activities this year was $17.2 million.

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

	Net cost of governmental activities of $14.3 million was financed by general revenues, which are made up of primarily property taxes of $7.2 million and state and county aid of $6.8 million. Investment earnings accounted for $25,268 of funding.

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS

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

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

The financial performance of the District as a whole is reflected in its governmental funds. As the District completed the year, its governmental funds reported a combined fund balance of $3.2 million, a decrease of $116,906.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS

The General Fund comprises 78 percent of the total fund balance. At year end, the General Fund’s entire $2.5 million fund balance was unassigned.

The General Fund is the principal operating fund of the District. The increase in fund balance of $1.8 million to $2.5 million as of fiscal year end was a result of increased property tax revenue allocations. General Fund revenues increased $1.3 million. General Fund expenditures increased $106,602.

The Special Education Grants Fund had $275,543 in revenues and total expenditures were $275,543.

The Unrestricted Capital Outlay Fund had $280,078 in revenues and other financing sources and total expenditures were $454,333.

BUDGETARY HIGHLIGHTS

Over the course of the year, the District revised the General Fund annual expenditure budget for changes in estimated student enrollment. The difference between the original budget and the final amended budget was a $384,909 decrease, 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 $265,151 in instruction was a result of the District budgeting for potential expenditures related to the classroom.

	The favorable variance of $123,370 in transportation was a result of the District budgeting for potential increased usage of District vehicles.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets. At year end, the District had invested $37.8 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 $47,856. Total depreciation expense for the current fiscal year was $795,559.

The following schedule presents a summary of capital asset balances for the fiscal years ended June 30, 2017 and June 30, 2016.

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

As of June 30, 2017
$            679,272 23,402,640

As of June 30, 2016
$             679,272 23,962,580

Total	$	24,081,912	$	24,641,852

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

Debt Administration. At year end, the District had $11.9 million in long-term debt outstanding, $800,698 due within one year. Long-term debt decreased by $581,111.

The District’s general obligation bonds are subject to two limits; the Constitutional debt limit (total debt limit) on all general obligation bonds (up to 30 percent of the total net full cash assessed valuation) and the statutory debt limit on Class B bonds (the greater of 20 percent of the net full cash assessed valuation or $1,500 per student). The current total debt limitation for the District is $57.5 million and the Class B debt limit is $38.3 million, which are more than the District’s total outstanding general obligation and Class B debt, respectively.

Additional information on the District’s long-term debt can be found in Notes 7 through 9.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) YEAR ENDED JUNE 30, 2017

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 2017-18 budget. Among them:

	Fiscal year 2016-17 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.

Budgeted expenditures in the General Fund increased three percent to $13.0 million in fiscal year 2017-18. The state’s base support level is expected to increase is the primary reason for the increase. State aid and property taxes are expected to be the primary funding sources. No new programs were added to the 2017-18 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.

BASIC FINANCIAL STATEMENTS

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GOVERNMENT-WIDE FINANCIAL STATEMENTS

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF NET POSITION JUNE 30, 2017

ASSETS Current assets:
Cash and investments Property taxes 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 Obligations under capital leases
Bonds payable
Total current liabilities

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

DEFERRED INFLOWS OF RESOURCES Pension plan items

Governmental Activities

$         1,339,021 216,011 2,411,871 3,966,903

679,272 23,402,640 24,081,912 28,048,815

2,850,632

138,056 512,659 93,818 125,698 675,000 1,545,231

26,142,553 26,142,553 27,687,784

1,897,560

NET POSITION
Net investment in capital assets Restricted for:
Teacher compensation Food service Community school Auxiliary operations Other local initiatives Debt service
Capital outlay Unrestricted
Total net position

12,982,690

125,682 57,711 143,149 359,712 37,751 124,157 1,286 (12,518,035)
$	1,314,103

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF ACTIVITIES YEAR ENDED JUNE 30, 2017

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

9,324,714 $             729,098 $             492,791 $               32,980 $       (8,069,845) 1,698,074                                               44,608                                       (1,653,466) 2,145,503                                                                                                 (2,145,503) 1,738,247                  58,618                                                                    (1,679,629) 669,216                                                                                                    (669,216) 945,803                941,811                241,582                                             237,590 659,885                                             304,382                                          (355,503) 17,181,442 $          1,729,527 $          1,083,363 $               32,980         (14,335,572)

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

Changes in net position

Net position, beginning of year, as restated

7,000,432 158,718 25,268 414,860 6,416,947 14,016,225

(319,347)

1,633,450

Net position, end of year	$	1,314,103

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

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FUND FINANCIAL STATEMENTS

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 BALANCE SHEET - GOVERNMENTAL FUNDS JUNE 30, 2017

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

General

$            556,592 216,011 1,770,672 652,044
$	3,195,319

Special Education Grants

$

272,129

$	272,129

Unrestricted Capital Outlay

$

33,217

$	33,217

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

106,754	$

462,923 569,677

$ 272,129

272,129

192,119

192,119

Deferred inflows of resources: Unavailable revenues - property taxes

Fund balances (deficits): Restricted
Unassigned
Total fund balances

163,888

2,461,754 2,461,754

(158,902) (158,902)

Total liabilities, deferred inflows of resources
and fund balances	$	3,195,319	$	272,129	$	33,217

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

Non-Major Governmental Funds

Total Governmental Funds

$	782,429

335,853

$	1,118,282

$              31,302 187,796
49,736 268,834

$         1,339,021 216,011 2,411,871 652,044
$	4,618,947

$            138,056 652,044 512,659 1,302,759

163,888

849,448

849,448

849,448 2,302,852 3,152,300

$	1,118,282	$	4,618,947

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TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION JUNE 30, 2017

Total governmental fund balances	$	3,152,300

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	$ 37,838,423

Less accumulated depreciation	(13,756,511)	24,081,912

Property taxes receivable are not available to pay for current period expenditures and, therefore, are reported as unavailable
revenues in the funds.	163,888

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

2,850,632
(1,897,560)	953,072

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

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

(469,090) (1,283,366) (14,699,613)
(10,585,000)	(27,037,069)

Net position of governmental activities	$	1,314,103

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -GOVERNMENTAL FUNDS YEAR ENDED JUNE 30, 2017

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

General

$	 857,295 7,025,321 5,411,888

13,294,504

Special Education Grants

$

275,543 275,543

Unrestricted Capital Outlay

$                9,242 1,078
97,699

108,019

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

6,969,448 1,232,776 2,037,881 1,684,449 590,594 162 27,449

57,333 25,373 12,625,465

239,328 30,675

5,540

275,543

364,365

70,837 19,131 454,333

Excess (deficiency) of revenues over expenditures

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

Changes in fund balances

Fund balances, beginning of year, as restated

669,039

2,241 (8,207)

33,997 28,031

697,070

1,764,684

(346,314)

172,059

172,059

(174,255)

15,353

Fund balances, end of year	$	2,461,754	$	$	(158,902)

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

Non-Major Governmental Funds

Total Governmental Funds

$         1,421,967 189,439 930,899 664,415 3,206,720

$         2,288,504 7,215,838 6,440,486 939,958 16,884,786

1,211,851 378,061 15,390 1,306

910,931 94,487

625,000 615,381 3,852,407

(645,687)

202,045 (196,079)

5,966

(639,721)

1,489,169

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

753,170 659,885 17,207,748

(322,962)

204,286 (204,286) 172,059 33,997 206,056

(116,906)

3,269,206

$	849,448	$	3,152,300

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, 2017

Changes in fund balances - total governmental funds	$	(116,906)

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

$	235,619
(795,559)	(559,940)

Capital lease agreements provide current financial resources to governmental funds, but the issuance increases long term liabilities in the Statement of Net Position.

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

(172,059)

(56,688)

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

Capital lease principal retirement Bond principal retirement

128,170
625,000	753,170

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

977,493
(1,202,784)	(225,291)

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 governmental funds.	58,367

Changes in net position in governmental activities	$	(319,347)

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 STATEMENT OF ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2017

ASSETS
Cash and investments Total assets

LIABILITIES
Deposits held for others Due to student groups
Total liabilities

Agency

$            152,045 $            152,045

$                4,862 147,183
$	152,045

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

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.

The more significant of the District’s accounting policies are described below.

A. Reporting Entity

The Governing Board is organized under Section 15-321 of the Arizona Revised Statutes (A.R.S.). Management of the District is independent of other state or local governments. The County Treasurer collects taxes for the District, but exercises no control over its expenditures/expenses.

The membership of the Governing Board consists of five members elected by the public. Under existing statutes, the Governing Board’s duties and powers include, but are not limited to, the acquisition, maintenance and disposition of school property; the development and adoption of a school program; and the establishment, organization and operation of schools.

The Board also has broad financial responsibilities, including the approval of the annual budget, and the establishment of a system of accounting and budgetary controls.

The financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity in conformity with generally accepted accounting principles. The District is a primary government because it is a special-purpose government that has a separately elected governing body, is legally separate, and is fiscally independent of other state or local governments. Furthermore, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity. Consequently, the District’s financial statements include only the funds of those organizational entities for which its elected governing board is financially accountable. The District’s major operations include education, student transportation, construction and maintenance of District facilities, and food services.

B. Government-Wide and Fund Financial Statements

The government-wide financial statements (i.e., the statement of net position and the statement of activities) present financial information about the District as a whole. The reported information includes all of the nonfiduciary activities of the District. For the most part, the effect of internal activity has been removed from these statements. These statements are to distinguish between the governmental and business-type activities of the District.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Property taxes, federal, state, and county aid, tuition, and investment income associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. Food services and miscellaneous revenues are not susceptible to accrual because generally they are not measurable until received in cash. Grants and similar awards are recognized as revenue as soon as all eligibility requirements imposed by the grantor or provider have been met. Unearned revenues arise when resources are received by the District before it has legal claim to them, as when grant monies are received prior to meeting all eligibility requirements imposed by the provider.

Delinquent property taxes and other receivables that will not be collected within the available period have been reported as unavailable revenues on the governmental fund financial statements.

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

Unrestricted Capital Outlay Fund – The Unrestricted Capital Outlay Fund accounts for transactions relating to the acquisition of capital items.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Additionally, the District reports the following fund type:

Fiduciary Funds – 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. In addition, funds that account for employee withholdings before the monies are remitted to the appropriate entities are included in the Agency Funds.

The agency funds are custodial in nature and do not have a measurement focus and are reported on the accrual basis of accounting. The agency funds are 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.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

E. Investment Income

Investment income is composed of interest, dividends, and net changes in the fair value of applicable investments. Investment income is included in other local revenue in the fund financial statements.

F. Receivables and Payables

Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the fiscal year is referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as “due to/from other funds.” Interfund balances between governmental funds are eliminated on the Statement of Net Position. All receivables, including property taxes receivable, are shown net of an allowance for uncollectibles.

G. Property Tax Calendar

The County Treasurer is responsible for collecting property taxes for all governmental entities within the county. The county levies real and personal property taxes on or before the third Monday in August, that become due and payable in two equal installments. The first installment is due on the first day of October and becomes delinquent after the first business day of November. The second installment is due on the first day of March of the next year and becomes delinquent after the first business day of May.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

Capital assets are defined by the District as assets with an initial, individual cost in excess of $5,000, and an estimated useful life of more than one year. Capital assets are recorded at historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

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

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

Land improvements Buildings and improvements
Vehicles, furniture and equipment

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

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 2 – FUND BALANCE CLASSIFICATIONS

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

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 Auxiliary operations Food service Community school Other purposes
Unassigned
Total fund balances

General Fund

$

2,461,754 $	2,461,754

Unrestricted Capital Outlay Fund

$

(158,902) $	(158,902)

Non-Major Governmental Funds

$            124,157 1,286
125,682 359,712 57,711 143,149 37,751

$	849,448

NOTE 3 – STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Individual Deficit Fund Balance – At year end, the Unrestricted Capital Outlay Fund, a major governmental fund, reported a deficit of $158,902 in fund balance.

The deficit arose because of operations during the year. Additional revenues received in fiscal year 2017-18 are expected to eliminate the deficit.

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

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 $538,640 and the bank balance was $1,156,629. At year end, $737,727 of the District’s deposits were covered by collateral held by the pledging financial institution’s trust department or agent but not in the District’s name.

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

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

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

Average Maturities County Treasurer’s investment pool	306 days

Fair Value $    952,426

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

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

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 other districts
Net due from governmental entities

Special	Unrestricted	Non-Major General	Education           Capital        Governmental
Fund	Grants Fund	Outlay Fund	Funds

$                       $        272,129 $                       $        229,819 1,770,672                                       33,217                1,515 104,519
$	1,770,672 $	272,129 $	33,217 $	335,853

NOTE 6 – CAPITAL ASSETS

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

Beginning Governmental Activities	Balance

Ending Increase	Decrease	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

1,166,048 33,249,814 2,695,433

$

7,800 44,528 183,291

$        679,272 679,272

1,173,848 33,294,342
187,763	2,690,961

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

37,111,295

(426,309) (10,352,960) (2,369,446) (13,148,715)

235,619

(31,614) (686,274) (77,671) (795,559)

187,763

(187,763) (187,763)

37,159,151

(457,923) (11,039,234) (2,259,354) (13,756,511)

Total capital assets, being depreciated, net Governmental activities capital assets, net

23,962,580
$ 24,641,852 $

(559,940) (559,940) $

23,402,640 $ 24,081,912

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

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

$ 629,238 1,761 65,097 21,955 50,420 27,088
$ 795,559

NOTE 7 – OBLIGATIONS UNDER CAPITAL LEASES

The District has acquired stadium lighting and seating upgrades, utility management, energy efficient equipment, and a bus under the provisions of long-term lease agreements classified as capital leases. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of their future minimum lease payments as of the inception date. Revenues from the General Fund and Unrestricted Capital Outlay Fund are used to pay the capital lease obligations. Amortization of assets recorded under capital leases is included with depreciation expense.

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

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

Governmental Activities

$         413,000 172,059 26,482
$	558,577

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 7 – OBLIGATIONS UNDER CAPITAL LEASES

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

Year Ending June 30:

2018 2019 2020 2021 2022 2023-27 2028-30
Total minimum lease payments

Less: amount representing interest

Governmental Activities
$         172,674 172,674 172,674 172,674 136,137 627,255 92,706 1,546,794

263,428

Present value of minimum lease payments

Due within one year

$	1,283,366

$	125,698

NOTE 8 – 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, 2017

Due Within One Year

Governmental activities:
School Improvement Bonds, Build
America, Series 2010 (Class B)	$ 11,785,000 4.673-6.073% 7/1/18-29 $	10,585,000 $ 675,000

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 8 – GENERAL OBLIGATION BONDS PAYABLE

Year ending June 30: 2018 2019 2020 2021 2022
2023-27 2028-29

Governmental Activities Principal	Interest
$       675,000 $        570,953 720,000              537,639 740,000              501,511 770,000              463,010 825,000              421,137 4,725,000           1,351,833 2,130,000              130,003

Total	$ 10,585,000 $	3,976,086

NOTE 9 – CHANGES IN LONG-TERM LIABILITIES

Long-term liability activity for the current fiscal year was as follows:

Beginning
Balance	Additions	Reductions

Ending Balance

Due Within One Year

Governmental activities: General obligation bonds Obligations under capital leases Net pension liability Compensated absences payable Governmental activity long-
term liabilities

$11,210,000 $ 1,239,477
14,138,702 527,457

$27,115,636 $

172,059 560,911 245,738

978,708

$ 625,000 128,170

304,105

$1,057,275

$ 10,585,000 $ 1,283,366
14,699,613 469,090

$ 27,037,069 $

675,000 125,698

93,818

894,516

NOTE 10 – INTERFUND RECEIVABLES AND PAYABLES

At year end, interfund balances were as follows:

Due to/from other funds – At year end, the Special Education and Unrestricted Capital Outlay Funds, major governmental funds, and several non-major governmental funds had negative cash balances of $272,129, $192,119, and $187,796 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.

Interfund transfers – Transfers of $204,286 between funds were used to (1) move cash balances remaining in several discontinued funds, and (2) move Community School collections made in the Auxiliary Operations Fund.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

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.

Lawsuits – The District is a party to a number of various types of lawsuits, many of which normally occur in governmental operations. The ultimate outcome of the actions is not determinable, however, District management believes that the outcome of these proceedings, either individually or in the aggregate, will not have a materially adverse effect on the accompanying financial statements.

NOTE 12 – PRIOR PERIOD ADJUSTMENT AND RECLASSIFICATION

The July 1, 2016, government-wide net position and fund balances do not agree to the prior year financial statements due to an error correction and a reclassification of fund balances. The error was caused by incorrectly reported cash balances in the prior year.

Governmental Activities

General Fund

Non-Major Governmental Funds

Net position/fund balance, June 30, 2016, as previously reported
Error correction
Advertisement Fund reclassification
Net position/fund balance, July 1, 2016, as restated

$	1,548,052 $ 85,398

$	1,633,450 $

1,764,369 $

315

1,764,684 $

1,404,086 85,398
(315)

1,489,169

NOTE 13 – RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters.

The District was unable to obtain general property and liability insurance at a cost it considered to be economically justifiable. Therefore, the District joined the Arizona School Risk Retention Trust, Inc. (ASRRT). ASRRT is a public entity risk pool currently operating as a common risk management and insurance program for school districts and community colleges in the State. The District pays an annual premium to ASRRT for its general insurance coverage. The agreement provides that ASRRT will be self-sustaining through member premiums and will reinsure through commercial companies for claims in excess of specified amounts.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 13 – RISK MANAGEMENT

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

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

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

Years of service and age required to receive benefit

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

Final average salary is based on

Highest 36 months of last 120 months

Highest 60 months of last 120 months

Benefit percent per year of service

2.1% to 2.3%	2.1% to 2.3%

*With actuarially reduced benefits

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 14 – 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 11.48 percent (11.34 percent for retirement and 0.14 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 11.48 percent (10.78 percent for retirement, 0.56 percent for health insurance premium benefit, and 0.14 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, 2017 were $977,493.

In addition, the District was required by statute to contribute at the actuarially determined rate of 9.47 percent (9.17 for retirement, 0.21 percent for health insurance premium benefit, and 0.09 percent for long-term disability) of annual covered payroll of retired members who worked in positions that would typically be filled by an employee who contributes to ASRS.

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:

Health Benefit Supplement Fund

Long-Term Disability Fund

Year ending June 30:
2017	$ 2016
2015

50,779	$	12,695 43,534                10,448 49,430                10,054

Pension Liability. At June 30, 2017, the District reported a liability of $14.7 million for its proportionate share of the net pension liability of the ASRS. The net pension liability was measured as of June 30, 2016. 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, 2015, to the measurement date of June 30, 2016. 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, 2016, the District’s proportion was 0.09 percent, which was no change from its proportion measured as of June 30, 2015.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 14 – PENSIONS AND OTHER POSTEMPLOYMENT BENEFITS

Pension Expense and Deferred Outflows/Inflows of Resources. The District has deferred outflows and inflows of resources related to the net pension liability of retirement benefits. Certain changes in the net pension liability are recognized as pension expense over a period of time rather than the year of occurrence. For the year ended June 30, 2017, the District recognized pension expense of $1.2 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 Changes of assumptions or other inputs
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
$	89,329

1,592,949

190,861 977,493
$ 2,850,632

Deferred Inflows of Resources
$ 1,011,226 777,727

108,607

$ 1,897,560

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, 2018. 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:
2018 2019 2020 2021

$     (609,830) (513,390)
652,141 446,658

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 14 – 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, 2015 June 30, 2016 Entry age normal 8.0%
3.0-6.75% 3.0% Included
1994 GAM Scale BB

The actuarial assumptions used in the June 30, 2015 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 8.75 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 Multi-asset Commodities
Total

Target Allocation 58% 25% 10% 5%
2% 100%

Long-Term Expected Real Rate of Return
6.73% 3.70 4.25 3.41% 3.84

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO FINANCIAL STATEMENTS JUNE 30, 2017

NOTE 14 – 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 8.75 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%)

$18,743,123

Current Discount Rate (8.0%)

$14,699,613

1% Increase (9.0%)

$11,457,602

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.

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REQUIRED SUPPLEMENTARY INFORMATION

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL
YEAR ENDED JUNE 30, 2017

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

Budgeted Amounts

Original	Final

$	$

Non-GAAP Actual

$            685,891 7,025,321 5,411,888 13,123,100

Variance with Final Budget Positive (Negative)

$            685,891 7,025,321 5,411,888 13,123,100

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

Excess (deficiency) of revenues over expenditures

8,166,352 1,012,871 1,953,341 1,160,728 755,648 20,340

13,069,280

(13,069,280)

7,174,132 1,191,399 2,008,040 1,596,300 711,500 3,000

12,684,371

(12,684,371)

6,908,981 1,161,086 2,032,806 1,639,878 588,130

6,081

57,333 25,373 12,419,668

703,432

265,151 30,313 (24,766) (43,578) 123,370 3,000 (6,081)

(57,333) (25,373) 264,703

13,387,803

Other financing sources (uses): Transfers in
Transfers out
Total other financing sources (uses)

17,335 (23,191) (5,856)

17,335 (23,191) (5,856)

Changes in fund balances	(13,069,280)	(12,684,371)	697,576	13,381,947

Fund balances, beginning of year	1,605,657	1,605,657

Fund balances (deficits), end of year	$	(13,069,280)	$	(12,684,371)	$	2,303,233	$	14,987,604

See accompanying notes to this schedule.

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, 2017

Revenues:
Federal aid, grants and reimbursements Total revenues

Budgeted Amounts

Original & Final

$

Actual

$            275,543 275,543

Variance with Final Budget Positive (Negative)

$            275,543 275,543

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

239,328 30,675 5,540 275,543

(239,328) (30,675) (5,540) (275,543)

Changes in fund balances

Fund balances, beginning of year

Fund balances, end of year	$	$	$

See accompanying notes to this schedule.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

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

2017	2016	2015	2014

Measurement date

District's proportion of the net pension liability (asset)

June 30, 2016

0.09%

June 30, 2015

0.09%

June 30, 2014	0

0.09%	0.00%

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

District's covered payroll

$	14,699,613

$	8,706,710

$	14,138,702

$	8,377,952

$	13,687,116	$

$	8,102,832	$

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

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

168.83%

67.06%

168.76%

68.35%

168.92%

69.49%

#DIV/0!

0.00%

SCHEDULE OF CONTRIBUTIONS ARIZONA STATE RETIREMENT SYSTEM LAST THREE FISCAL YEARS

2017	2016	2015	2014

Actuarially determined contribution	$	977,493	$	944,678	$	912,359	$

Contributions in relation to the

actuarially determined contribution	977,493	944,678	912,359

Contribution deficiency (excess)	$	$	$	$

District's covered payroll	$	9,067,653	$	8,706,710	$	8,377,952	$

Contributions as a percentage

of covered payroll	10.78%	10.85%	10.89%	#DIV/0!

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

See accompanying notes to this schedule.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 NOTES TO REQUIRED SUPPLEMENTARY INFORMATION JUNE 30, 2017

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

$ 12,625,465 (205,797)

Fund Balances End of Year

$	2,461,754 (158,521)

Schedule of Revenues, Expenditures and Changes in
Fund Balances – Budget and Actual – General Fund	$ 12,419,668	$	2,303,233

NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY

Excess Expenditures Over Budget – At year end, the Special Education Grants Fund, a major governmental fund, had expenditures of $275,543 that exceeded the budget of zero by $275,543; however, this does not constitute a violation of any legal provisions.

NOTE 3 – 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, 2015, 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.

(This page intentionally left blank)

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

(This page intentionally left blank)

GOVERNMENTAL FUNDS

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING BALANCE SHEET - ALL NON-MAJOR GOVERNMENTAL FUNDS - BY FUND TYPE JUNE 30, 2017

ASSETS
Cash and investments
Due from governmental entities Total assets

Special Revenue

$            757,113 235,726
$	992,839

Debt Service

$              24,030 100,127
$	124,157

Capital Projects

$	1,286

$	1,286

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

$	 31,302	$	$ 187,796
49,736 268,834

Fund balances: Restricted
Total fund balances

724,005 724,005

124,157                             1,286 124,157                             1,286

Total liabilities and fund balances	$	992,839	$	124,157	$	1,286

Total Non-Major Governmental Funds

$            782,429 335,853
$	1,118,282

$              31,302 187,796
49,736 268,834

849,448 849,448

$	1,118,282

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, 2017

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 Operation of non-instructional services
Capital outlay Debt service -
Principal retirement Interest and fiscal charges
Total expenditures

Excess (deficiency) of revenues over expenditures

Special Revenue

$	1,417,453

929,999 360,033 2,707,485

1,211,851 378,061 15,390 1,306 910,931 94,487

2,612,026

95,459

Debt Service

$                4,504 189,439

304,382 498,325

625,000 615,381 1,240,381

(742,056)

Capital Projects

$	10

900

910

910

Other financing sources (uses): Transfers in
Transfers out
Total other financing sources (uses)

202,045 (196,079) 5,966

Changes in fund balances

Fund balances, beginning of year, as restated

101,425

622,580

(742,056)	910

866,213	376

Fund balances, end of year	$	724,005	$	124,157	$	1,286

Total Non-Major Governmental Funds

$         1,421,967 189,439 930,899 664,415 3,206,720

1,211,851 378,061 15,390 1,306 910,931 94,487

625,000 615,381 3,852,407

(645,687)

202,045 (196,079) 5,966

(639,721)

1,489,169

$	849,448

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.

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.

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

Failing Schools Tutoring Grant - to account for monies used to assist high school students to pass the AIMS test or to assist students who are underperforming.

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.

Advertisement - to account for monies received from the sale of advertising.

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2017

ASSETS
Cash and investments
Due from governmental entities Total assets

Classroom Site

$	43,633

$	43,633

Instructional Improvement

$	121,781

$	121,781

Structured English Immersion

$
162 $	162

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

$	$	$
162 30,151	9,581
30,151	9,581	162

Fund balances: Restricted
Total fund balances

13,482                         112,200 13,482                         112,200

Total liabilities and fund balances	$	43,633	$	121,781	$	162

Professional Development and Technology
Title I Grants	Grants

Vocational Education

State Vocational Education

Other State
Projects	Food Service

$		$ 71,918
$	71,918	$

$		$ 71,918

$ 27,883
27,883	$

$ 27,883

$	$ 13,660                                803
13,660	$	803	$

$	$ 13,660                                803

$	41,480 550	16,231 550           $	57,711

$ 550

71,918	27,883	13,660	803	550

57,711 57,711

$	71,918	$	27,883	$	13,660	$	803	$	550	$	57,711

(Continued)

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR SPECIAL REVENUE FUNDS
JUNE 30, 2017

ASSETS
Cash and investments
Due from governmental entities Total assets

Civic Center

$	29,881

$	29,881

Community School

$	144,393

$	144,393

Auxiliary Operations

$	375,611

$	375,611

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

$	1,244	$	15,899

1,244	15,899

Fund balances: Restricted
Total fund balances

29,881                         143,149 29,881                         143,149

359,712 359,712

Total liabilities and fund balances	$	29,881	$	144,393	$	375,611

Grants and Gifts Fingerprint	Textbooks	Insurance Refund	to Teachers

Joint Technical
Education	Totals

$	28	$	11	$	255	$

$	28	$	11	$	255	$

40	$		$ 104,519
40	$	104,519	$

757,113 235,726 992,839

$	$	$	$	$	14,159	$ 72,820
10,004 96,983

31,302 187,796 49,736 268,834

28                                  11                                255 28                                  11                                255

40                             7,536 40                             7,536

724,005 724,005

$	28	$	11	$	255	$	40	$	104,519	$	992,839

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, 2017

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 Operation of non-instructional services
Capital outlay
Total expenditures

Excess (deficiency) of revenues over expenditures

Classroom Site

$                1,504 822,602

824,106

775,027 8,773

783,800

40,306

Instructional Improvement

$                   438 83,858

84,296

3,150 8,449 600

12,199

72,097

Title I Grants

$

71,918 71,918

71,918

71,918

Other financing sources (uses): Transfers in
Transfers out
Total other financing sources (uses)

Changes in fund balances

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

40,306	72,097

(26,824)	40,103

Fund balances, end of year	$	13,482	$	112,200	$

Professional Development and Technology
Grants	Title IV Grants

Promote Informed Parent Choice

Vocational Education

Other Federal E-Rate	Projects

$	$	$	$	$	$

27,883                             1,775 27,883                             1,775

11                           16,832                           16,753                                  32 11                           16,832                           16,753                                  32

27,883	4,620

16,753 11,691
27,883	16,311	16,753

1,775	11	521	32

(1,775) (1,775)

(11)                             (521)                             (254)                               (32) (11)                             (521)                             (254)                               (32)

(254)

254

$	$	$	$	$	$

(Continued)

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, 2017

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 Operation of non-instructional services
Capital outlay
Total expenditures

Excess (deficiency) of revenues over expenditures

Other financing sources (uses): Transfers in
Transfers out
Total other financing sources (uses)

State Vocational Education

$
16,840

16,840

14,048 846

3,976 18,870

(2,030)

8,041 (6,011) 2,030

Early Childhood Block Grant

$

135

135

(135)

135

135

Failing Schools Tutoring Grant

$
980

980

980

(980) (980)

Changes in fund balances

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

Fund balances, end of year	$	$	$

Other State Projects

Community Food Service	Civic Center	School

Auxiliary
Operations	Fingerprint

$		$	357,743	$ 5,719
224,829 5,719	582,572

12,378	$

12,378

169,471	$

169,471

767,462	$	488

767,462	488

3,970

7,905

553,578 11,773
3,970	573,256

195,729

1,006 156,025 7,800 360,560

63,590	1,324 327,265
6,885 300 184,575 8,011
590,626	1,324

1,749	9,316	12,378	(191,089)	176,836	(836)

31 (1,780) (1,749)

(5,861) (5,861)

193,838

193,838

(178,854) (178,854)

3,455	12,378

54,256	17,503

2,749

140,400

(2,018)	(836)

361,730	864

$	$	57,711	$	29,881	$	143,149	$	359,712	$	28

(Continued)

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, 2017

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

Textbooks

$

Insurance Refund

$	2

2

Grants and Gifts to Teachers

$

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

Excess (deficiency) of revenues over expenditures	2

Other financing sources (uses): Transfers in
Transfers out
Total other financing sources (uses)

Changes in fund balances	2

Fund balances (deficits), beginning of year, as restated	11	253	40

Fund balances, end of year	$	11	$	255	$	40

Joint Technical
Education	Totals

$	107,967

107,967

$         1,417,453 929,999 360,033 2,707,485

82,960 225

51,236 134,421

(26,454)

1,211,851 378,061 15,390 1,306 910,931 94,487 2,612,026

95,459

202,045 (196,079) 5,966

(26,454)

33,990

101,425

622,580

$	7,536	$	724,005

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, 2017

Classroom Site

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

Budget	Actual

$                                    $                1,504 822,602

824,106

Variance -Positive (Negative)

$                1,504 822,602

824,106

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

Excess (deficiency) of revenues over expenditures

876,780 25,133

901,913

(901,913)

775,027 8,773

783,800

40,306

101,753 16,360

118,113

942,219

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

Changes in fund balances	(901,913)	40,306	942,219

Fund balances (deficits), beginning of year	(26,824)	(26,824)

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(901,913)	$	13,482	$	915,395

Instructional Improvement

Budget	Actual

Variance -Positive (Negative)

Student Success

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$		438	$	438	$	$	303	$	303 83,858                           83,858

84,296	84,296	303	303

75,000

75,000

(75,000)

(75,000)

3,150                          (3,150) 8,449                           66,551 600                             (600)

12,199	62,801

72,097	147,097

72,097	147,097

38,803

38,803

(38,500)

(38,500)

(38,803)

(38,803)

(38,500)

(38,500)

40,103	40,103	38,500	38,500

$	(75,000)	$	112,200	$	187,200	$	$	$

(Continued)

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, 2017

Title I Grants

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

Budget	Actual

$	$

71,918 71,918

Variance -Positive (Negative)

$

71,918 71,918

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

125,200	71,918	53,282

125,200	71,918	53,282

Excess (deficiency) of revenues over expenditures	(125,200)	125,200

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

Changes in fund balances	(125,200)	125,200

Fund balances (deficits), beginning of year

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(125,200)	$	$	125,200

Professional Development and Technology Grants	Title IV Grants

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

27,883                           27,883 27,883                           27,883

1,775                             1,775 1,775                             1,775

58,000	27,883	30,117

58,000	27,883	30,117

(58,000)	58,000	1,775	1,775

(1,775)

(1,775)

(1,775)

(1,775)

(58,000)	58,000

$	(58,000)	$	$	58,000	$	$	$

(Continued)

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, 2017

Promote Informed Parent Choice

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

Budget	Actual

$	$

11 11

Variance -Positive (Negative)

$

11 11

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

Excess (deficiency) of revenues over expenditures

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

11	11

(11)	(11)

(11)	(11)

Changes in fund balances

Fund balances (deficits), beginning of year

Increase (decrease) in reserve for prepaid items

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

Vocational Education

Budget	Actual

Variance -Positive (Negative)

Medicaid Reimbursement

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	$	$	$	$

16,832                           16,832 16,832                           16,832

50,000

50,000

(50,000)

4,620	45,380

11,691                        (11,691) 16,311                           33,689

521	50,521

(521)	(521)

(521)	(521)

(67)	(67)

(67)	(67)

(50,000)	50,000	(67)	(67)

67	67

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

(Continued)

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, 2017

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

E-Rate

Budget	Actual

$	$

16,753 16,753

Variance -Positive (Negative)

$

16,753 16,753

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

50,000

16,753

50,000	16,753

50,000

(16,753)

33,247

Excess (deficiency) of revenues over expenditures	(50,000)	50,000

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

(254)	(254)

(254)	(254)

Changes in fund balances	(50,000)	(254)	49,746

Fund balances (deficits), beginning of year	254	254

Increase (decrease) in reserve for prepaid items

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

Other Federal Projects

Budget	Actual

Variance -Positive (Negative)

State Vocational Education

Budget	Actual

Variance -Positive (Negative)

$	$	$	$	$	$
16,840	16,840 32	32
32	32	16,840	16,840

150,000

150,000

150,000

150,000

25,000                           14,048 846

3,976 25,000	18,870

10,952 (846)

(3,976) 6,130

(150,000)	32	150,032	(25,000)	(2,030)	22,970

(32)	(32)

(32)	(32)

8,041 (6,011)

2,030

8,041 (6,011)

2,030

(150,000)	150,000	(25,000)	25,000

$	(150,000)	$	$	150,000	$	(25,000)	$	$	25,000

(Continued)

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, 2017

Early Childhood Block Grant

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

Excess (deficiency) of revenues over expenditures

25,000

25,000

(25,000)

135	24,865

135	24,865

(135)	24,865

Other financing sources (uses):
Transfers in	135	135 Transfers out
Insurance recoveries
Total other financing sources (uses)	135	135

Changes in fund balances	(25,000)	25,000

Fund balances (deficits), beginning of year

Increase (decrease) in reserve for prepaid items

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

Extended School Year - Pupils with Disabilities	Gifted

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

25,000

25,000

(25,000)

(25,000)

25,000	25,000	25,000

25,000	25,000	25,000

25,000	(25,000)	25,000

25,000	(25,000)	25,000

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

(Continued)

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, 2017

Failing Schools Tutoring Grant

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

Budget	Actual

$	$
980

980

Variance -Positive (Negative)

$
980

980

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

Excess (deficiency) of revenues over expenditures

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

980	980

(980)	(980)

(980)	(980)

Changes in fund balances

Fund balances (deficits), beginning of year

Increase (decrease) in reserve for prepaid items

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

Other State Projects

Budget	Actual

Variance -Positive (Negative)

School Plant

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$		$	$	$	12,505	$	12,505 5,719                             5,719

5,719	5,719	12,505	12,505

25,000	3,970	21,030

50,000	2,464	47,536

25,000

(25,000)

3,970	21,030

1,749	26,749

50,000	2,464	47,536

(50,000)	10,041	60,041

31 (1,780)

(1,749)

31 (1,780)

(1,749)

(25,000)	25,000	(50,000)	10,041	60,041

7,659	7,659

$	(25,000)	$	$	25,000	$	(50,000)	$	17,700	$	67,700

(Continued)

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, 2017

Food Service

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

Budget	Actual

$	$	357,743

224,829 582,572

Variance -Positive (Negative)

$	357,743

224,829 582,572

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

Excess (deficiency) of revenues over expenditures

550,000

550,000

(550,000)

7,905

553,578 11,773 573,256

9,316

(7,905)

(3,578) (11,773) (23,256)

559,316

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

(5,861)

(5,861)

(5,861)

(5,861)

Changes in fund balances	(550,000)	3,455	553,455

Fund balances (deficits), beginning of year	54,256	54,256

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(550,000)	$	57,711	$	607,711

Civic Center

Budget	Actual

Variance -Positive (Negative)

Community School

Budget	Actual

Variance -Positive (Negative)

$	$	12,378	$	12,378	$	$	169,471	$	169,471

12,378	12,378	169,471	169,471

300,000	195,729	104,271

1,006	(1,006)

50,000	50,000

50,000	50,000

156,025 7,800
300,000	360,560

(156,025) (7,800) (60,560)

(50,000)	12,378	62,378	(300,000)	(191,089)	108,911

193,838

193,838

193,838

193,838

(50,000)	12,378	62,378	(300,000)	2,749	302,749

17,503	17,503	140,400	140,400

$	(50,000)	$	29,881	$	79,881	$	(300,000)	$	143,149	$	443,149

(Continued)

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, 2017

Auxiliary Operations

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

Budget	Actual

$	$	767,462

767,462

Variance -Positive (Negative)

$	767,462

767,462

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

Excess (deficiency) of revenues over expenditures

500,000

500,000

(500,000)

63,590 327,265 6,885 300

184,575 8,011 590,626

176,836

(63,590) 172,735 (6,885) (300)

(184,575) (8,011) (90,626)

676,836

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

(178,854)

(178,854)

(178,854)

(178,854)

Changes in fund balances	(500,000)	(2,018)	497,982

Fund balances (deficits), beginning of year	361,730	361,730

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(500,000)	$	359,712	$	859,712

Gifts and Donations

Non-GAAP Budget	Actual

Variance -Positive (Negative)

Fingerprint

Budget	Actual

Variance -Positive (Negative)

$	$	153,841	$	153,841	$	$	488	$	488

153,841	153,841	488	488

100,000

100,000

(100,000)

21,664 71,690 5,075 13,550

162 21,368 133,509

20,332

(21,664) 28,310 (5,075) (13,550)

(162) (21,368) (33,509)

120,332

5,000

5,000

(5,000)

1,324	3,676

1,324	3,676

(836)	4,164

(43)	(43)

(43)	(43)

(100,000)	20,289	120,289	(5,000)	(836)	4,164

111,907	111,907	864	864

$	(100,000)	$	132,196	$	232,196	$	(5,000)	$	28	$	5,028

(Continued)

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, 2017

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

Insurance Proceeds

Non-GAAP Budget	Actual

$	$	26

26

Variance -Positive (Negative)

$	26

26

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

Excess (deficiency) of revenues over expenditures

5,000

5,000

(5,000)

31,021

31,021

(30,995)

(26,021)

(26,021)

(25,995)

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

33,997                           33,997 33,997                           33,997

Changes in fund balances	(5,000)	3,002	8,002

Fund balances (deficits), beginning of year	27	27

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	(5,000)	$	3,029	$	8,029

Textbooks

Budget	Actual

Variance -Positive (Negative)

Litigation Recovery

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	$	$	$	4,138	$	4,138

4,138	4,138

5,000	5,000	1,000	1,000

5,000	5,000	1,000	1,000

(5,000)

(5,000)

5,000	(1,000)

5,000	(1,000)

4,138	5,138

4,138	5,138

11	11	552	552

$	(5,000)	$	11	$	5,011	$	(1,000)	$	4,690	$	5,690

(Continued)

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, 2017

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

Indirect Costs

Non-GAAP 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

Excess (deficiency) of revenues over expenditures

25,000	25,000

25,000	25,000

(25,000)	25,000

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

Changes in fund balances	(25,000)	25,000

Fund balances (deficits), beginning of year

Increase (decrease) in reserve for prepaid items

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

Insurance Refund

Budget	Actual

Variance -Positive (Negative)

Grants and Gifts to Teachers

Budget	Actual

Variance -Positive (Negative)

$	$	2	$	2	$	$	$

2	2

5,000	5,000	10,000	10,000

5,000	5,000	10,000	10,000

(5,000)

(5,000)

2	5,002	(10,000)	10,000

2	5,002	(10,000)	10,000

253	253	40	40

$	(5,000)	$	255	$	5,255	$	(10,000)	$	40	$	10,040

(Continued)

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, 2017

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

Advertisement

Non-GAAP Budget	Actual

$	$	591

591

Variance -Positive (Negative)

$	591

591

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

Excess (deficiency) of revenues over expenditures	591	591

Other financing sources (uses): Transfers in
Transfers out Insurance recoveries
Total other financing sources (uses)

Changes in fund balances	591	591

Fund balances (deficits), beginning of year	315	315

Increase (decrease) in reserve for prepaid items

Fund balances (deficits), end of year	$	$	906	$	906

Joint Technical Education

Non-GAAP Budget	Actual

Variance -Positive (Negative)

Totals

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	107,967	$

107,967

107,967	$

107,967

$         1,588,857 929,999 360,033 2,878,889

$         1,588,857 929,999 360,033 2,878,889

150,000

150,000

(150,000)

90,460 225

51,236 141,921

(33,954)

59,540 (225)

(51,236) 8,079

116,046

1,827,980 808,133

5,000 50,000 600,000

3,291,113

(3,291,113)

1,279,818 449,751 20,465 45,877 2,464 911,093 115,855 2,825,323

53,566

548,162 358,382 (20,465) (40,877) 47,536 (311,093) (115,855) 465,790

3,344,679

202,045 (196,189) 33,997 39,853

202,045 (196,189) 33,997 39,853

(150,000)	(33,954)	116,046	(3,291,113)	93,419	3,384,532

33,990	33,990

7,500	7,500

781,607

7,500

781,607

7,500

$	(150,000)	$	7,536	$	157,536	$	(3,291,113)	$	882,526	$	4,173,639

(This page intentionally left blank)

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
NON-MAJOR DEBT SERVICE FUND YEAR ENDED JUNE 30, 2017

Debt Service

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

Budget	Actual

$	$	    4,504 189,439 304,382 498,325

Variance -Positive (Negative)

$	    4,504 189,439 304,382 498,325

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

Changes in fund balances

625,000 590,000 1,215,000

(1,215,000)

625,000 615,381 1,240,381

(742,056)

(25,381) (25,381)

472,944

Fund balances, beginning of year, as restated	866,213	866,213

Fund balances (deficits), end of year	$	(1,215,000)	$	124,157	$	1,339,157

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.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING BALANCE SHEET - NON-MAJOR CAPITAL PROJECTS FUNDS
JUNE 30, 2017

ASSETS
Cash and investments Total assets

Adjacent Ways

$                   517 $                   517

Gifts and Donations -Capital

$                   666 $                   666

Condemnation

$                     23 $                     23

LIABILITIES AND FUND BALANCES Fund balances:
Restricted
Total fund balances

Total liabilities and fund balances

$                   517           $                   666           $                     23 517                                666                                  23

$	517	$	666	$	23

Emergency Deficiencies Correction

Building Renewal Grant

New School
Facilities	Totals

$                       3           $                     44           $                     33           $                1,286 $                       3           $                     44           $                     33           $                1,286

$                       3           $                     44           $                     33           $                1,286 3                                  44                                  33                             1,286

$	3	$	44	$	33	$	1,286

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, 2017

Revenues: Other local
State aid and grants Total revenues

Adjacent Ways

$	4

4

Gifts and Donations -Capital

$	6

6

Condemnation

$

Changes in fund balances

Fund balances (deficits), beginning of year

4	6

513	660	23

Fund balances, end of year	$	517	$	666	$	23

Emergency Deficiencies Correction

Building Renewal Grant

New School
Facilities	Totals

$		$	$	$	10 900                                                                                                           900 900                                                                                                           910

900	910

(897)	44	33	376

$	3	$	44	$	33	$	1,286

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2017

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

Unrestricted Capital Outlay

Non-GAAP Budget	Actual

$                                    $                9,242 1,078
97,699 108,019

Variance -Positive (Negative)

$                9,242 1,078
97,699 108,019

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

Changes in fund balances

210,032

70,837 19,131 300,000

(300,000)

192,306

70,837 19,131 282,274

(174,255)

17,726

17,726

125,745

Fund balances (deficits), beginning of year	15,353	15,353

Fund balances (deficits), end of year	$	(300,000)	$	(158,902)	$	141,098

Adjacent Ways

Budget	Actual

Variance -Positive (Negative)

Gifts and Donations - Capital

Budget	Actual

Variance -Positive (Negative)

$	$	4	$	4	$	$	6	$	6

4	4	6	6

50,000	50,000

50,000	50,000

4	4	(50,000)	6	50,006

513	513	660	660

$	$	517	$	517	$	(50,000)	$	666	$	50,666

(Continued)

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2017

Condemnation

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

Budget	Actual

$	$

Variance -Positive (Negative)

$

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

Changes in fund balances

Fund balances (deficits), beginning of year	23	23

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

Emergency Deficiencies Correction	Building Renewal Grant

Variance -Positive
Budget	Actual	(Negative)	Budget

Variance -Positive
Actual	(Negative)

$	$	$	$	$	$

900                                900 900                                900

900	900

(897)	(897)	44	44

$	$	3	$	3	$	$	44	$	44

(Continued)

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -BUDGET AND ACTUAL
ALL CAPITAL PROJECTS FUNDS YEAR ENDED JUNE 30, 2017

New School Facilities

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

Budget	Actual

$	$

Variance -Positive (Negative)

$

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

Changes in fund balances

Fund balances (deficits), beginning of year	33	33

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

Totals

Non-GAAP Budget	Actual

Variance -Positive (Negative)

$	$	9,252	$ 1,078
98,599 108,929

9,252 1,078 98,599 108,929

260,032

70,837 19,131 350,000

(350,000)

192,306

70,837 19,131 282,274

(173,345)

67,726

67,726

176,655

15,729	15,729

$	(350,000)	$	(157,616)	$	192,384

(This page intentionally left blank)

AGENCY FUNDS

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

Employee Withholding - to account for voluntary deductions temporarily held by the District as an agent.

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING STATEMENT OF ASSETS AND LIABILITIES AGENCY FUNDS JUNE 30, 2017

ASSETS
Cash and investments Total assets

Student Activities

$            147,183 $            147,183

Employee Withholding

$                4,862 $                4,862

Totals

$            152,045 $            152,045

LIABILITIES
Deposits held for others Due to student groups
Total liabilities

$		$ 147,183
$	147,183	$

4,862           $                4,862 147,183
4,862	$	152,045

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUNDS YEAR ENDED JUNE 30, 2017

Beginning
Balance	Additions	Deductions

Ending Balance

STUDENT ACTIVITIES

Assets

Cash and investments

Total assets

Liabilities

Due to student groups

Total liabilities

$	148,537	$

$	148,537	$

$	148,537	$

$	148,537	$

570,703	$

570,703	$

570,703	$

570,703	$

572,057	$

572,057	$

572,057	$

572,057	$

147,183

147,183

147,183

147,183

EMPLOYEE WITHHOLDING

Assets

Cash and investments

Total assets

Liabilities

Deposits held for others

Total liabilities

$	4,792	$	7,793	$	7,723	$	4,862

$	4,792	$	7,793	$	7,723	$	4,862

$	4,792	$	7,793	$	7,723	$	4,862

$	4,792	$	7,793	$	7,723	$	4,862

TOTAL AGENCY FUNDS

Assets

Cash and investments

Total assets

Liabilities

Deposits held for others Due to student groups

Total liabilities

$	153,329	$

$	153,329	$

$		4,792	$ 148,537

$	153,329	$

578,496	$

578,496	$

7,793	$ 570,703

578,496	$

579,780	$

579,780	$

7,723	$ 572,057

579,780	$

152,045

152,045

4,862 147,183

152,045

(This page intentionally left blank)

STATISTICAL SECTION

The statistical section presents financial statement trends as well as detailed financial and operational information not available elsewhere in the report. The statistical section is intended to enhance the reader’s understanding of the information presented in the financial statements, notes to the financial statements, and other supplementary information presented in this report. The statistical section is comprised of the five categories of statistical information presented below.

Financial Trends
These schedules contain information on financial trends to help the reader understand how the District’s financial position and financial activities have changed over time.

Revenue Capacity
These schedules contain information to help the reader assess the factors affecting the District’s ability to generate revenue.

Debt Capacity
These schedules present information to help the reader evaluate the District’s current levels of outstanding debt as well as assess the District’s ability to make debt payments and/or issue additional debt in the future.

Demographic and Economic Information
These schedules present various demographic and economic indicators to help the reader understand the environment in which the District’s financial activities take place and to help make comparisons with other school districts.

Operating Information
These schedules contain information about the District’s operations and various resources to help the reader draw conclusions as to how the District’s financial information relates to the services provided by the District.

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

(This page intentionally left blank)

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

2017

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

2012

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

2016

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

2011

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

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

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

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

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

2017

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

2016

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

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

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

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

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

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

Net (Expense)/Revenue	$	(14,335,572)	$	(14,879,157)	$	(14,527,771)	$	(13,815,081)	$	(13,071,251)

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)

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

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

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

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

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

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

Net (Expense)/Revenue	$	(8,631,639)	$	(11,359,211)	$	(9,831,544)	$	(11,236,563)	$	(11,533,396)

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

(Concluded)

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

2017	2016	2015	2014	2013

Net (Expense)/Revenue	$	(14,335,572)	$	(14,879,157)	$	(14,527,771)	$	(13,815,081)	$     (13,071,251)

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

7,000,432 158,718

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

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

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

Changes in Net Position	$	(319,347)	$	(827,580)	$	(1,187,588)	$	(336,654)	$	(1,438,700)

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)

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

2012	2011	2010	2009	2008

Net (Expense)/Revenue	$	(8,631,639)	$	(11,359,211)	$	(9,831,544)	$	(11,236,563)	$     (11,533,396)

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

5,084,933 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

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

Changes in Net Position	$	2,379,919	$	(482,942)	$	1,117,477	$	632,429	$	2,283,007

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 2007-08 through 2008-09.

(Concluded)

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: Unassigned

2017

$	2,461,754	$

2016

1,764,369	$

2015

2,316,261	$

2014

2,474,660	$

2013

2,495,796

Total General Fund	 $	2,461,754   $	1,764,369   $	2,316,261   $	2,474,660   $	2,495,796 

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

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

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

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

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

1,527,268

1,527,268

(Continued)

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

General Fund: Nonspendable Unassigned Reserved Unreserved
Total General Fund

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

2012

$		$ 3,707,704

$	3,707,704	$

$	1,468,385	$

$	1,468,385	$

2011

203,440 4,616,782

4,820,222

4,107,461

4,107,461

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

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)

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

Fiscal Year Ended June 30

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

2017

$	715,129	$ 224,829 939,958

5,509,587 23,539

907,360 6,440,486

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

2016

616,727	$ 211,419 828,146

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

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

2015

592,537	$ 192,259 784,796

5,809,987 10,860

798,610 6,619,457

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

2014

666,289 195,319 861,608

5,541,143 5,638

816,788 6,363,569

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

2013

$	627,299 183,383 810,682

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

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

(Continued)

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

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

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	$

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

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 2007-08 through 2008-09.

(Concluded)

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

2017	2016	2015	2014	2013

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

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

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

$	235,619	$

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

666,341 630,626
17,462,660	$

479,189	$

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

Debt service as a percentage of

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

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

(Continued)

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

2012	2011	2010	2009	2008

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

$          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	$

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

Debt service as a percentage of

noncapital expenditures	8%	9%	10%	9%	9%

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

(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

2017	2016	2015	2014	2013

Excess (deficiency) of

revenues over expenditures	$	(322,962)	$	(967,925)	$	(83,107)	$	(201,224)	$	(1,153,025)

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

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

206,056

413,000

413,000

1,684

(1,684)

Changes in fund balances	$	(116,906)	$	(554,925)	$	(83,107)	$	(201,224)	$	(1,153,025)

2012	2011	2010	2009	2008

Excess (deficiency) of

revenues over expenditures	$	(3,548,154)	$	(11,692,968)	$	(173,890)	$	180,493	$	1,223,492

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

5,702

(5,702)

16,805

(16,805)

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

14,200,151

205,748

(205,748)

1,427

(1,427)

Changes in fund balances	$	(3,548,154)	$	(11,692,968)	$	14,026,261	$	180,493	$	1,223,492

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

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

Fiscal Year

Class	2017	2016	2015	2014	2013

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

Total

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

$	180,679,533	$

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

173,314,046	$

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

168,680,927	$

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

170,152,349	$

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

184,135,116

Gross Full Cash Value

Ratio of Net Limited Assessed Value to Gross Full Cash Value

Total Direct Rate

$ 1,951,500,164

9%

5.23

$ 1,790,361,226

10%

5.30

$ 1,721,553,223

10%

5.03

$ 1,728,748,371

10%

5.00

$ 1,861,329,633

10%

4.15

Fiscal Year

Class	2012	2011	2010	2009	2008

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

Certain Government Property Improvements

Total

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

$	199,393,579	$

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

220,341,469	$

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

218,381,323	$

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

199,156,230	$

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

175,338,186

Gross Full Cash Value

Ratio of Net Limited Assessed Value to Gross Full Cash Value

Total Direct Rate

$ 2,003,464,671

10%

3.80

$ 2,235,227,040

10%

3.35

$ 2,324,387,909

9%

3.18

$ 2,309,601,776

9%

4.37

$ 1,975,056,876

9%

5.10

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

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13

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

Fiscal Year

Class	2017	2016	2015	2014	2013

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

Total

Gross Full Cash Value

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

$	191,618,799     $

$     1,951,500,164     $

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

175,954,235     $

1,790,361,226     $

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

169,220,355     $

1,721,553,223     $

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

170,709,751     $

1,728,748,371     $

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

184,878,059

1,861,329,633

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

10% 1,761,733,686
5.23

10% 1,592,380,593
5.30

10% 1,522,842,039
5.03

10% 1,535,270,185
5.00

10% 1,661,944,889
4.15

Fiscal Year

Class	2012	2011	2010	2009	2008

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

Total

Gross Full Cash Value

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

$	201,148,242     $

$     2,003,464,671     $

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

227,509,021     $

2,235,227,040     $

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

239,098,707     $

2,324,387,909     $

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

238,433,926     $

2,309,601,776     $

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

203,670,127

1,975,056,876

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

10% 1,814,293,135
3.80

10% 2,055,576,149
3.35

10% 2,157,295,115
3.18

10% 2,147,600,249
4.37

10% 1,830,751,284
5.10

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

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

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

Fiscal Year

Class	2017	2016	2015	2014	2013

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

18 %	19 %	19 %	20 %	20 % 15	16	16	16	16
10                       10                       10                      10                      10 10                       10                       10                      10                      10
14	15	16	15	15

Fiscal Year

Class	2012	2011	2010	2009	2008

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

20 %	21 %	22 %	23 %	24 % 16	16	16	16	16
10                       10                       10                      10                      10 10                       10                       10                      10                      10
15	17	18	20	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.

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

2017	0.50	4.99 2016	0.51	5.09 2015	0.51	4.98 2014	0.51	4.45 2013	0.47	4.20 2012                     0.43               4.20 2011                     0.36               4.06 2010	0.33	4.02 2009	0.00	4.00
2008	0.00	4.29

Library

0.52 0.52 0.44 0.38 0.35 0.35 0.31 0.26 0.34
0.40

District

0.33 0.31 0.30 0.26 0.26 0.26 0.26 0.26 0.29
0.34

District

1.37 1.37 1.33 1.29 1.17 1.11 1.08 1.08 1.14
1.18

Assistance

0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04
0.04

Water	Tucson	JTED

0.14	1.60	0.05 0.14	1.60	0.05 0.14	1.46	0.05 0.14	1.43	0.05 0.10	1.26	0.05 0.10               1.16               0.05 0.10               0.96               0.05 0.10	0.93	0.05 0.10	0.96	0.05
0.10	1.13	0.05

F.D.	Primary

1.06	4.22 1.06	3.72 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

Secondary	Total

1.01	5.23 1.58	5.30 1.14	5.03 1.20	5.00 1.15	4.15 1.08               3.80 0.98	3.35 0.81	3.18 0.95	4.37
1.32	5.10

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

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

2017	2008
Percentage of

Net Limited Assessed
Taxpayer	Valuation

Percentage of District's Net Limited Assessed Valuation

Net Full Cash Assessed Valuation

District's Net Full Cash Assessed Valuation

Unisource Energy Group Southwest Gas Company Arizona Sunshine Ranches Landmark Title - TR 18300 Landmark Title - TR 18152 Galiuro TR
Qwest Communications

$	2,988,227 1,618,144 1,055,752
602,372 503,995 464,933 458,879

1.65	% $	% 0.90                          1,975,600                    0.97 0.58                          3,319,823                    1.63 0.33
0.28 0.26
0.25	2,912,482	1.43

Schifman Ronald Bruce & Stolov Sheila MLP communications, Inc.
Macco LLC
Tucson Electric Power 49er Country Club Private Individual Private Individual Private Individual Private Individual
$

428,842 426,533 331,541

8,879,218

0.24
0.24	651,744	0.32 0.18
2,647,711	1.30 407,340	0.20 346,239	0.17 244,404	0.12 238,321	0.12 224,037	0.11
4.90	%	$	12,967,701	6.37 %

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

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

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

2017	$	7,279,090 2016                       7,281,966 2015                       6,566,441 2014                       6,614,750 2013                       6,005,212 2012                       5,929,011 2011                       5,814,400 2010                       5,533,500 2009                       7,225,380
2008	7,530,783

$      7,100,175                    97.54 % 7,069,703                    97.09 6,358,769                    96.84 6,360,489                    96.16 5,788,261                    96.39 5,711,044                    96.32 5,595,553                    96.24 5,303,895                    95.85 6,880,902                    95.23
6,931,228	92.04

N/A 202,503 202,737 240,969 208,893 216,370 217,813 228,413 344,457
599,535

$      7,100,175                      97.54 % 7,272,206                      99.87 6,561,506                      99.92 6,601,458                      99.80 5,997,154                      99.87 5,927,414                      99.97 5,813,366                      99.98 5,532,308                      99.98 7,225,359                    100.00
7,530,763	100.00

Source: The source of this information is the 2017 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.

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

General Obligation Bonds
Fiscal	Less:	Percentage of

Total Outstanding Debt Percentage of

Year            General Ended        Obligation
June 30	Bonds

Amounts Restricted for
Principal

Estimated
Actual Value	Per Total	(Full Cash Value)               Capita

Capital

Leases

Estimated Actual Value
Total	(Full Cash Value)

Percentage of Per	Personal
Capita	Income

2017	$ 10,585,000 2016            11,210,000 2015            11,785,000 2014            12,335,000 2013            13,370,000 2012            13,790,000 2011            14,000,000 2010            15,160,000 2009              2,270,000 2008              3,330,000

$	124,157 811,536 782,653 853,522 914,438 890,156 776,359 459,928 721,445 797,846

10,460,843 10,398,464 11,002,347 11,481,478 12,455,562 12,899,844 13,223,641 14,700,072 1,548,555 2,532,154

0.54 %	$	747 0.58                            743 0.64                            786 0.66                            820 0.67                            890 0.64                            921 0.59                            945 0.63                         1,050 0.07                            155 0.13                            253

$ 1,283,366 1,239,477

$ 11,868,366 12,449,477 11,785,000 12,335,000 13,370,000 13,790,000 14,000,000 15,160,000 2,270,000 3,330,000

0.61 %	$	848	N/A % 0.70                            889                       0.03 0.68                            842                       0.03 0.71                            881                       0.03 0.72                            955                       0.04 0.69                            985                       0.04 0.63                         1,000                       0.04 0.65                         1,083                       0.04 0.10                            227                       0.01 0.17                            333                       0.01

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

TANQUE VERDE UNIFIED SCHOOL DISTRICT NO. 13 DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
JUNE 30, 2017

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

$ 1,191,347,312 None 1,027,970,471

2.42 %      $     28,830,605 2.42                            None 5.93                   60,958,649 89,789,254

Direct:

Tanque Verde Unified School District No. 13	100.00	11,868,366

Total Direct and Overlapping Governmental Activities Debt	$ 101,657,620

DIRECT AND OVERLAPPING GENERAL BONDED DEBT RATIOS

Net Direct General Obligation Bonded Debt

As a Percentage of Net Limited Assessed Valuation	5.79 %

Net Direct and Overlapping General Bonded Debt

Per Capita	$	7,161

As a Percentage of Net Limited Assessed Valuation                                                     55.49 % As a Percentage of Gross Full Cash Value                                                                       5.14 %

Source: The source of this information is the District's records and the State and County Abstract of the Assessment Roll, Arizona Department of Revenue and the applicable governmental unit.
Notes: 1) Estimated percentage of debt outstanding applicable to the District is calculated based on a portion of the District's net limited assessed valuation as a percentage of the net limited assessed valuation of the overlapping net limited jurisdiction.
2) Outstanding debt as of June 30, 2016 is presented for the overlapping governments as this is the most recent available information.

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 2017: Net full cash assessed valuation	$	191,618,799

Total Legal Debt Margin Calculation for Fiscal Year 2017: Net full cash assessed valuation	$	191,618,799

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

38,323,760 10,585,000
$	27,738,760

Debt limit (30% of assessed value)

Debt applicable to limit Legal debt margin

57,485,640 10,585,000
$	46,900,640

Fiscal Year Ended June 30

2017	2016	2015	2014	2013

Debt Limit	$	57,485,640	$	52,786,271	$	50,766,107	$	51,212,925	$	55,463,418

Total net debt applicable to limit	10,585,000	11,210,000	11,785,000	12,335,000	13,370,000

Legal debt margin	$	46,900,640	$	41,576,271	$	38,981,107	$	38,877,925	$	42,093,418

Total net debt applicable to the limit

as a percentage of debt limit	18%	21%	23%	24%	24%

2012	2011	2010	2009	2008

Debt Limit	$	60,344,473	$	68,252,706	$	71,729,612	$	71,530,178	$	61,101,038

Total net debt applicable to limit	13,790,000	14,000,000	15,160,000	2,270,000	3,330,000

Legal debt margin	$	46,554,473	$	54,252,706	$	56,569,612	$	69,260,178	$	57,771,038

Total net debt applicable to the limit

as a percentage of debt limit	23%	21%	21%	3%	5%

Source: The source of this information is the District's financial records.
Notes: 1) The District’s general obligation bonds are subject to two limits; the Constitutional debt limit (total debt limit) on all general obligation bonds outstanding and the statutory debt limit on Class B bonds outstanding. The calculations of the debt margins are presented in detail for the current fiscal year only.
2) Prior to FY17, net bond premium was restricted by amount and not subject to the statutory debt limit. Beginning with FY17, any additional net premium used for capital projects, bond counsel, printing and preparation of offering documents, a financial advisor, paying agent costs or to pay down debt is counted against both debt limits with the exception of amounts of premium deposited into the Debt Service Fund or a refunding escrow to pay interest payments.

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

2016	1,013,103	$ 2015	1,010,025 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

40,182,115	$	39,541 38,922,402                       38,536 37,198,714                       37,031 36,935,363                       37,063 35,813,670                       35,371 36,058,871                       36,335 34,360,759                       34,987 34,516,424                       33,833 34,392,945                       34,058 31,646,777                       31,755

4.9	%	14,000 6.2                            14,000 6.2                            14,000 7.0                            14,000 7.2                            14,000 9.1                            14,000 9.0                            14,000 8.3                            14,000 5.1                            10,000 3.8                            10,000

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 2007 through 2010 is the University of Arizona, Eller College of Management, Economic and Business Research Center. For 2011 through 2016, the source of the information is the Arizona Office of Employment and Population Statistics. N/A indicates that the information is not available.

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

2017	2008

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 Banner-University Medicine
U.S. Customs and Border Protection Freeport-McMoran Mining
Wal-Mart Stores, Inc. Fort Huachuca
City of Tucson

Phelps Dodge Mining Co.

Total

11,251	2.48     % 9,600	2.12 8,580	1.89 8,406	1.85 7,060	1.56 6,770	1.49 6,272	1.38 5,739	1.27 5,530	1.22 5,500	1.21

74,708	16.47     %

10,535	2.36 % 12,515	2.80 10,754	2.41
7,701

6,954                          1.56 8,018                          1.80

5,805	1.30 6,701	1.50 5,848	1.31 5,840	1.31

80,671	16.35 %

Total employment	453,300	446,600

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

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

2017	2016	2015	2014	2013

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                            2                            2                            1                            1 10                          10                          10                            9                            9

127                        133                        132                        128                        124 9                            7                            1                            1                            1 55                          55                          51                          49                          47 191                        195                        184                        178                        172

4	4	3	3	3 1	1	1	1	1 5	5	4	4	4

81                          81                          78                          78                          78 81                          81                          78                          78                          78

287	291	276	269	263

(Continued)

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

2012	2011	2010	2009	2008

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	3 1	1	1	1	2 9	9	9	9	9

116                        109                        105                        103                          95 1                            1                            1                            1                            1 46                          44                          40                          37                          35 163                        154                        146                        141                        131

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

77                          77                          74                          71                          72 77                          77                          74                          71                          72

253	244	233	225	216

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

(Concluded)

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

2017	2,028 2016	1,994 2015	1,997 2014	1,915 2013	1,847 2012	1,687 2011	1,583 2010	1,500 2009	1,402 2008	1,299 2007	1,425

$     15,302,852	$	7,547 15,487,360                7,767 14,982,054                7,502 14,364,038                7,501 13,551,614                7,337 12,876,311                7,633 12,107,202                7,648 11,024,342                7,350 11,918,040                8,501 11,938,098                9,190 11,321,336                7,945

(2.83) %	$ 3.53
0.02 2.23 (3.87) (0.20) 4.06
(13.54) (7.50)
15.68 #DIV/0!

17,181,442	$	8,474 17,416,743                8,735 17,129,164                8,577 16,068,026                8,391 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

(2.99) %	191	10.6	15.0     % 1.83	195	10.2	15.0 2.23	184	10.9	15.0 1.86	178	10.8	16.0
(6.40)                  172                 10.7                    15.9 0.65                    163                 10.3                    14.1 10.76                    154                 10.3                    41.8 (14.45)                  146                 10.3                    12.0 (9.11)                  141                   9.9                      9.6 13.72                    131                   9.9                      8.3
#DIV/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.

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

Fiscal Year Ended June 30

2017	2016	2015	2014	2013	2012	2011	2010	2009	2008

Schools Elementary
Buildings Square feet Capacity Enrollment
Middle Buildings Square feet Capacity Enrollment
High Buildings
Square feet Capacity Enrollment
Other Buildings Square feet

Administrative Buildings Square feet

Transportation Garages Buses

Athletics
Football fields Soccer fields Baseball/softball Playgrounds

23 103,660 1,100 1,089

5 57,124 450 367

11 94,194 650 576

4 10,178

1 14,425

1 23

1 4 3 3

23                         2                         2                         2 103,660                98,371                98,371                98,371 1,100                  1,100                  1,100                  1,100 1,130                  1,130                  1,138                  1,087

5                         1                         1                         1 57,124                57,124                57,124                57,124 450                     450                     450                     450 376                     376                     371                     367

11                         1                         1                         1 94,194                94,194                94,194                94,194 650                     650                     650                     650 555                     555                     479                     449

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

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

1                         1                         1                         1 19                       17                       17                       17

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

2                         2                         2                         2                         2 98,371                98,371                98,371                98,371                98,371 1,050                  1,050                  1,000                  1,000                  1,000 1,040                  1,025                     975                     924                     834

1                         1                         1                         1                         1 57,124                57,443                57,443                57,443                57,443 450                     370                     370                     370                     370 350                     340                     310                     308                     322

1                         1                         1                         1                         1 94,194                17,100                17,100                17,100                17,100 650                     230                     230                     230                     230 375                     330                     350                     260                     194

4                         1                         1                         1                         1 10,718                     758                     758                     758                     758

1                         1                         1                         1                         1 14,425                40,211                40,211                40,211                40,211

1                         1                         1                         1                         1 17                       17                       17                       17                       17

1	1	1	1	1 3	2	2	2	2 7	6	6	6	6 3	3	3	3	3

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

Note: Prior to fiscal year 2015-16, the buildings are listed by the individual site.

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