SOLANCO SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2010
TABLE OF CONTENTS
Page No. INTRODUCTORY SECTION
Letter of Transmittal I - 1 to I - 10 Certificate of Excellence in Financial Reporting, Association of School
Business Officials International I - 11 Certificate of Achievement for Excellence in Financial Reporting,
Government Finance Officers Association I - 12 Board of School Directors and Principal Officials I - 13
Organizational Chart I - 14
FINANCIAL SECTION
Independent Auditors' Report F - 1 to F - 2 Management's Discussion and Analysis F - 3 to F - 24 BASIC
FINANCIAL STATEMENTS Statement of Net Assets F - 26 to F - 27 Statement of Activities F - 28 Balance Sheet
- Governmental Funds F - 29 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net
Assets F - 30 Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds F - 31
to F - 32 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in
Fund Balances to the Statement of Activities F - 33 to F - 34 Statement of Net Assets - Proprietary Funds F - 35
Statement of Revenues, Expenses, and Changes in Net Assets Proprietary Funds F - 36 Statement of Cash
Flows - Proprietary Funds F - 37 to F - 38 Statement of Net Assets - Fiduciary Funds F - 39 Statement of
Changes in Net Assets - Fiduciary Funds F - 40 Notes to the Basic Financial Statements F - 42 to F - 69
TABLE OF CONTENTS
(Continued)
FINANCIAL SECTION (Continued) Page No. REQUIRED SUPPLEMENTARY INFORMATION Schedule of
Employer Contributions - Other Postemployment Benefits (OPEB) Post Retirement Health Care Benefits Plan F 71 Schedule of Funding Progress - Other Postemployment Benefits (OPEB) Post Retirement Health Care
Benefits Plan F - 72 Notes to Required Supplementary Information Other Postemployment Benefits (OPEB) Post Retirement Health Care Benefits Plan F - 73 Schedule of Revenues, Expenditures, and Changes in Fund
Balances Budget and Actual - General Fund F - 74 to F - 75 Notes to Required Supplementary Information
Budgetary Data F - 76
COMBINING INDIVIDUAL FUND SCHEDULES AND STATEMENTS (SUPPLEMENTAL FINANCIAL INFORMATION)
GENERAL FUND Schedule of General Fund Revenues and Other Financing Sources -Budget to Actual
Comparison F - 78 to F - 79 Schedule of General Fund Expenditures and Other Financing Uses Budget to Actual
Comparison F - 80 to F - 85
DEBT SERVICE SUB-FUNDS Combining Balance Sheet - Debt Service Sub-Funds F - 87 Combining Statement
of Revenues, Expenditures, and Changes in Fund
Balances - Debt Service Sub-Funds F - 88
PROPRIETARY FUNDS - INTERNAL SERVICE FUNDS Combining Statement of Net Assets -Proprietary
Funds - Internal Service Funds F - 90 Combining Statement of Revenues, Expenses, and Changes in
Net Assets Proprietary Funds - Internal Service Funds F - 91 Combining Statement of Cash Flows - Proprietary
Funds - Internal Service Funds F - 92
PRIVATE PURPOSE TRUST FUNDS AND AGENCY FUNDS
Combining Statement of Net Assets - Fiduciary Funds -Private Purpose Trust Funds F - 94 to F - 99
Combining Statement of Changes in Net Assets - Fiduciary Funds -Private Purpose Trust Funds F - 100 to
F - 105
Combining Statement of Changes in Assets and Liabilities -Fiduciary Funds - Agency Funds F - 106
TABLE OF CONTENTS
(Continued)
STATISTICAL SECTION Page No.
Financial Trends Net Assets by Component S - 2 Changes in Net Assets - Governmental Activities S - 3 to S - 4
Changes in Net Assets - Business-type Activities S - 5 Changes in Net Assets - Total Primary Government S - 6
to S - 7 Fund Balances of Governmental Funds S - 8 Unreserved/Undesignated General Fund Balance as
Percentage of Actual Expenditures S - 9 Changes in Fund Balances of Governmental Funds S - 10 General Fund
Revenues and Other Financing Sources by Source S - 11 General Fund Revenues and Other Financing Sources
by Account S - 12 to S - 13 General Fund Expenditures and Other Financing Uses by Function S - 14 General
Fund Expenditures and Other Financing Uses by Sub-Function S - 15 Schedule of Cost Per Student Based on
Total Primary Government Expense S - 16 Schedule of General Fund Expenditures Per Student Based on
Governmental Fund Expenditures S - 17 General Fund Cash Flow Analysis S - 18
Revenue Capacity
Property Tax Levy and Collections S - 19 Occupation, Per Capita, Earned Income and Current Property
Tax Collections S - 20 Assessed Value and Estimated Actual Value of Taxable Property S - 21 Taxable
Assessed and Estimated Actual Property Values S - 22 Property Tax Rates - Direct and Overlapping
Goverments S - 23 Lancaster County School Districts Schedule of Millage Rates S - 24 Principal
Taxpayers S - 25 County of Lancaster Earned Income Tax Statistics S - 26
Debt Capacity Schedule of Direct and Overlapping Debt S - 27 Computation of Nonelectoral Debt Margin S
- 28 Legal Debt Margin Information S - 29
TABLE OF CONTENTS
(Continued)
STATISTICAL SECTION (Continued) Page No. Debt Capacity (Continued) Ratio of Annual Debt
Service for General Obligation Bonded Debt to Total General Fund Expenditures and Other Financing Uses S
- 30 Ratio of Annual Debt Service for General Obligation Bonded Debt to Total General Fund Revenues and
Other Financing Sources S - 31 Ratios of General Obligation Bonded Debt to Taxable Assessed Property
Value, Per Capita, Personal Income and Student Enrollment S - 32 Gross Debt Service Schedule S - 33
Demographic and Economic Information
Enrollment History and Projections by Instructional Level S - 34 Demographic Characteristics by Township S
- 35 to S - 36 Lancaster County Demographic and Economic Statistics S - 37 Lancaster County Principal
Employers S - 38 PSERS Retirement Rates S - 39
Operating Information Full-Time Equivalent Employees by Function S - 40 District Building Information S - 41
Capital Assets Statistics by Function/Program S - 42 Schedule of Insurance Policies S - 43 to S - 44
Glossary of Terms S - 46 to S - 51
SINGLE AUDIT SECTION
Schedule of Expenditures of Federal Awards SA - 2 to SA - 4 Notes to Schedule of Expenditures of Federal
Awards SA - 5 Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based
on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards SA - 6 to SA
- 7 Independent Auditors' Report on Compliance with Requirements Applicable to each Major Program and on
Internal Control Over Compliance in Accordance with OMB Circular A-133 SA - 8 to SA - 9 Schedule of Findings
and Questioned Costs SA - 10 to SA - 11 Summary Schedule of Prior Audit Findings SA - 12
Corrective Action Plan SA - 13 to SA - 14