Pima County Community College District Expenditure Limitation Report

              Pinal County Community College District
(Central Arizona College)
Report on Audit of Annual Budgeted
Expenditure Limitation Report
Year Ended June 30, 2001
Pinal County Community College District
(Central Arizona College)
Report on Audit of Annual Budgeted Expenditure Limitation Report
Year Ended June 30, 2001
Table of Contents
Page
Independent Auditor's Report........................................................................................................ 1
Annual Budgeted Expenditure Limitation Report - Part I.............................................................. 2
Annual Budgeted Expenditure Limitation Report - Part II............................................................. 3
Notes to Annual Budgeted Expenditure Limitation Report ........................................................... 4
Supplementary Information
Annual Expenditure Comparison Report ................................................................................. 5
See accompanying notes to report.
3
Pinal County Community College District
(Central Arizona College)
Annual Budgeted Expenditure Limitation Report - Part II
Year Ended June 30, 2001
Current Funds Plant Funds
Unrestricted
Description
General
Auxiliary
Enterprises
Restricted
Unexpended
Retirement of
Indebtedness
Total
A. Total budgeted expenditures $ 21,503,000 $ 4,297,707 $ 4,041,935 $ 1,510,000 $ 2,530,000 $ 33,882,642
B. Less exclusions claimed:
Debt service requirements on bonded
indebtedness (Note 2)
1,229,926
1,229,926
Debt service requirements on other long-term
obligations (Note 2)
1,264,258
1,264,258
Dividends, interest, and gains on the sale
or redemption of investment of securities
149,074
100,699
35,816
285,589
Grants and aid from the federal
government (Note 3 and 5)
84,507
3,527,687
3,612,194
Grants, aid, contributions, or gifts from a
private agency, organization, or individual,
except amounts received in lieu of taxes
151,321
50,000
201,321
Tuition and fees (Note 4 and 5) 3,123,088 1,964,529 5,087,617
Total exclusions claimed 3,356,669 1,964,529 3,679,008 150,699 2,530,000 11,680,905
C. Budgeted expenditures subject to the
expenditure limitation
$ 18,146,331
$ 2,333,178
$ 362,927
$ 1,359,301
$ -0-
$ 22,201,737
4
Pinal County Community College District
(Central Arizona College)
Notes to Annual Budgeted Expenditure Limitation Report
Year Ended June 30, 2001
Note 1 - Summary of Significant Accounting Policies
The Annual Budgeted Expenditure Limitation Report (ABELR) is presented on the
basis of accounting prescribed by the uniform expenditure reporting system (UERS),
as required by the Arizona Revised Statutes §41-1279.07, which excludes
expenditures of certain revenues specified in the Arizona Constitution, Article IX, §21
from the total budgeted expenditures.
In accordance with the UERS requirements, a note to the ABELR is presented below
for any exclusion claimed on Part II that cannot be traced directly to an amount
reported in the annual financial statements.
Note 2 - Debt service requirements on bond indebtedness and on other long-term obligations in
the Retirement of Indebtedness Fund consist of retirement of indebtedness and
interest on indebtedness on the Statement of Changes in Fund Balances. Only
$2,494,184, in total, was claimed as an exclusion.
Note 3 - Government grants and contracts revenues of $3,729,255 reported in the Restricted
Fund on the Statement of Current Funds Revenues, Expenditures, and Other Changes
include $3,527,687 from federal grants and contracts and $201,568 from state grants,
which are not excludable revenues.
Note 4 - Of the tuition and fees of $3,102,823 reported in the General Fund on the Statement of
Current Funds Revenues, Expenditures, and Other Changes, only $2,847,792 was
expended and claimed as an exclusion. The remaining $255,031 has been carried
forward to future years.
Note 5 - Administrative fees of $359,803 reported in the General Fund on the Statement of
Current Funds Revenues, Expenditures, and Other Changes included $275,296 of
tuition and fees received from the Arizona Department of Correction used to cover
indirect costs and $84,507 of indirect cost recovered through federal grants.
5
Pinal County Community College District
(Central Arizona College)
Annual Expenditure Comparison Report
Year Ended June 30, 2001
Current Funds
Unrestricted Plant Funds
Description
General
Auxiliary
Enterprises
Restricted
Unexpended
Retirement of
Indebtedness
Total
A. Total budgeted expenditures reported in the Annual
Budgeted Expenditure Limitation Report, Part II, Line
A
$ 21,503,000
$ 4,297,707
$ 4,041,935
$ 1,510,000
$ 2,530,000
$ 33,882,642
B. Total expenditures and other deductions reported in
the annual financial statements
21,156,133
4,295,581
3,945,717
1,569,890
2,497,634
33,464,955
C. Variance – favorable (unfavorable) $ 346,867 $ 2,126 $ 96,218 $ (59,890) (1) $ 32,366 $ 417,687
(1) This unfavorable variance resulted because expenditures for items that were budgeted, encumbered, and believed to have been received in the previous fiscal
year were not actually received and expensed until the current year. The current year budget was not revised to include these expenditures.