Report on audit of annual budgeted expenditure limitation report: year ended June 30,... / Yuma/La Paz Counties Community College District (Arizona Western College)

              Expenditure Limitation Report
Yuma/La Paz Counties Community College District
(Arizona Western College)
Year Ended June 30, 2010
Financial Audit Division
Debra K. Davenport
Auditor General
A REPORT
TO THE
ARIZONA LEGISLATUREThe Auditor General is appointed by the Joint Legislative Audit Committee, a bipartisan committee composed of five senators and five representatives. Her mission is to provide independent and impartial information and specific recommendations to improve the operations of state and local government entities. To this end, she provides financial audits and accounting services to the State and political subdivisions, investigates possible misuse of public monies, and conducts performance audits of school districts, state agencies, and the programs they administer.
Copies of the Auditor General’s reports are free.
You may request them by contacting us at:
Office of the Auditor General
2910 N. 44th Street, Suite 410 • Phoenix, AZ 85018 • (602) 553-0333
Additionally, many of our reports can be found in electronic format at:
www.azauditor.govYuma/La Paz Counties Community College District
(Arizona Western College)
Report on Audit of Annual Budgeted Expenditure Limitation Report
Year Ended June 30, 2010
Table of ContentsTable of ContentsTable of ContentsTable of Contents Table of Contents Table of Contents
PagePagePage
Independent Auditors Independent AuditorsIndependent Auditors Independent AuditorsIndependent AuditorsIndependent AuditorsIndependent AuditorsIndependent Auditors Independent AuditorsIndependent Auditors Independent Auditors ’ ReportReportReportReportReport
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Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report —Part IPart IPart I Part I
3
Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation ReportAnnual Budgeted Expenditure Limitation Report Annual Budgeted Expenditure Limitation Report —Part IIPart IIPart II Part II
4
Notes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation ReportNotes to Annual Budgeted Expenditure Limitation Report Notes to Annual Budgeted Expenditure Limitation Report
5 Independent Auditors’ Report
Members of the Arizona State Legislature
The Governing Board of
Yuma/La Paz Counties Community College District
We have audited the accompanying Annual Budgeted Expenditure Limitation Report of Yuma/La Paz Counties Community College District for the year ended June 30, 2010. This report is the responsibility of the District’s management. Our responsibility is to express an opinion on this report based on our audit.
We conducted our audit in accordance with U.S. generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the report is free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the report. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall report presentation. We believe that our audit provides a reasonable basis for our opinion.
The accompanying Annual Budgeted Expenditure Limitation Report was prepared for the purpose of complying with the uniform expenditure reporting system as discussed in Note 1, and is not intended to be a presentation in conformity with U.S. generally accepted accounting principles.
In our opinion, the Annual Budgeted Expenditure Limitation Report of Yuma/La Paz Counties Community College District for the year ended June 30, 2010, referred to above presents fairly, in all material respects, the information required by the uniform expenditure reporting system on the basis of accounting described in Note 1.
This report is intended solely for the information and use of the members of the Arizona State Legislature, the Governing Board, management, and others within the District and for filing with the Auditor General of the State of Arizona, and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record, and its distribution is not limited.
Jay Zsorey, CPA
Financial Audit Director
March 14, 2011 2
(This page (This page(This page(This page is left intentionally blank) is left intentionally blank) is left intentionally blank)is left intentionally blank) is left intentionally blank) is left intentionally blank) is left intentionally blank)is left intentionally blank) is left intentionally blank)is left intentionally blank) is left intentionally blank) is left intentionally blank) Yuma/La Paz Counties Community College District
(Arizona Western College)
Annual Budgeted Expenditure Limitation Report—Part I
Year Ended June 30, 2010
3
1. Economic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitationEconomic Estimates Commission expenditure limitation Economic Estimates Commission expenditure limitation
$41,096,262 $41,096,262 $41,096,262
2. Total amount subject to the expenditureTotal amount subject to the expenditureTotal amount subject to the expenditure Total amount subject to the expenditureTotal amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditure Total amount subject to the expenditureTotal amount subject to the expenditure Total amount subject to the expenditure
limitation (from Part II, Line C) limitation (from Part II, Line C) limitation (from Part II, Line C)limitation (from Part II, Line C)limitation (from Part II, Line C) limitation (from Part II, Line C) limitation (from Part II, Line C) limitation (from Part II, Line C)limitation (from Part II, Line C) limitation (from Part II, Line C) limitation (from Part II, Line C)limitation (from Part II, Line C)limitation (from Part II, Line C) limitation (from Part II, Line C)
$32,396,358 $32,396,358 $32,396,358
3. Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to Arizona Less expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to ArizonaLess expenditures of monies received pursuant to Arizona
Revised Statutes Revised Statutes Revised Statutes Revised Statutes Revised Statutes Revised Statutes Revised Statutes Revised Statutes Revised Statutes Revised Statutes (A.R.S.) (A.R.S.) (A.R.S.) (A.R.S.) (A.R.S.) (A.R.S.) (A.R.S.) §15 -1472 (workforce development) 1472 (workforce development)1472 (workforce development)1472 (workforce development) 1472 (workforce development) 1472 (workforce development) 1472 (workforce development) 1472 (workforce development) 1472 (workforce development)1472 (workforce development)1472 (workforce development) 1472 (workforce development)1472 (workforce development)
(715,686 (715,686 )
4. Adjusted amount subject to the expenditureAdjusted amount subject to the expenditureAdjusted amount subject to the expenditure Adjusted amount subject to the expenditureAdjusted amount subject to the expenditureAdjusted amount subject to the expenditureAdjusted amount subject to the expenditure Adjusted amount subject to the expenditureAdjusted amount subject to the expenditure Adjusted amount subject to the expenditure Adjusted amount subject to the expenditure Adjusted amount subject to the expenditure Adjusted amount subject to the expenditure Adjusted amount subject to the expenditure Adjusted amount subject to the expenditureAdjusted amount subject to the expenditureAdjusted amount subject to the expenditureAdjusted amount subject to the expenditure Adjusted amount subject to the expenditure
limitation limitation limitation
31,680,672 31,680,672 31,680,672
5. Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure Amount under the expenditure limitation limitation limitation
$ 9,415,590 $ 9,415,590$ 9,415,590 $ 9,415,590 $ 9,415,590
I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is I hereby certify, to the best of my knowledge and belief, that information contained in this report is accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system. accurate and in accordance with the requirements of uniform expenditure reporting system.
Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer: Signature of Chief Fiscal Officer:
Name and Title: Name and Title: Name and Title: Name and Title: Name and Title: Name and Title: Name and Title: Name and Title: Name and Title: Name and Title: Daniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative ServicesDaniel D. Hann, Vice President for Administrative Services Daniel D. Hann, Vice President for Administrative Services
Telephone Number: Telephone Number: Telephone Number: Telephone Number: Telephone Number: Telephone Number: Telephone Number: Telephone Number: (928 ) 344 -7515 Date: Date: Date: Date: March March March 14 , 2011, 2011, 2011
See accompanying notes to report. See accompanying notes to report. See accompanying notes to report.See accompanying notes to report.See accompanying notes to report.See accompanying notes to report. See accompanying notes to report.See accompanying notes to report. See accompanying notes to report.See accompanying notes to report. See accompanying notes to report.See accompanying notes to report.See accompanying notes to report. See accompanying notes to report.See accompanying notes to report.See accompanying notes to report. See accompanying notes to report. See accompanying notes to report.See accompanying notes to report. Yuma/La Paz Counties Community College District
(Arizona Western College)
Annual Budgeted Expenditure Limitation Report—Part II
Year Ended June 30, 2010
Current Funds
Plant Funds
Unrestricted
Auxiliary
Retirement of
General
Enterprises
Restricted
Unexpended
Indebtedness
Total
Description
A.
Total budgeted expenditures
33,901,102$
5,191,389$
26,388,186$
2,126,747$
5,855,536$
73,462,960$
B.
Less exclusions claimed:
Debt service requirements on bonded indebtedness
(Note 2)
5,855,536
5,855,536
Dividends, interest, and gains on the sale or redemption
of investment securities (Note 3)
150,405
3,048
70
28,122
181,645
Grants and aid from the federal government (Note 4)
46,526
24,283,678
24,330,204
Grants, aid, contributions, or gifts from a private agency,
organization, or individual, except amounts received in
lieu of taxes
501,781
501,781
Interfund transactions (Note 5)
197,195
197,195
Amounts accumulated for the purchase of land, and the
purchase or construction of buildings or improvements
(Note 6)
1,870,483
1,870,483
Tuition and fees (Note 7)
5,902,641
2,227,117
8,129,758
Total exclusions claimed
6,250,241
2,276,691
24,785,529
1,898,605
5,855,536
41,066,602
C.
Amounts subject to the expenditure limitation
27,650,861$
2,914,698$
1,602,657$
228,142$
-$
32,396,358$
See accompanying notes to report.
4Yuma/La Paz Counties Community College District
(Arizona Western College)
Notes to Annual Budgeted Expenditure Limitation Report
Year Ended June 30, 2010
5
Note Note 1 - Summary of Significant Accounting Policies Summary of Significant Accounting PoliciesSummary of Significant Accounting Policies Summary of Significant Accounting PoliciesSummary of Significant Accounting Policies Summary of Significant Accounting Policies Summary of Significant Accounting PoliciesSummary of Significant Accounting Policies Summary of Significant Accounting Policies Summary of Significant Accounting PoliciesSummary of Significant Accounting Policies Summary of Significant Accounting Policies Summary of Significant Accounting PoliciesSummary of Significant Accounting Policies Summary of Significant Accounting PoliciesSummary of Significant Accounting PoliciesSummary 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 Arizona Revised Statutes (A.R.S.) §41-1279.07, which excludes expenditures of certain revenues specified in the Arizona Constitution, Article IX, §21, from the total budgeted expenditures.
The information reported in both the ABELR and the financial statements is derived from the same underlying accounting data. However, the formats of the ABELR and the financial statements differ. The ABELR presents budgeted expenditures, exclusions, and amounts subject to the limitation by fund type as required by A.R.S. §41-1279.07. The financial statements present the net assets, changes in net assets, and cash flows in accordance with U.S. generally accepted accounting principles.
In accordance with the UERS requirements, a note to the ABELR is presented below for any exclusion reported in the Total column on Part II that cannot be traced directly to an amount reported in the annual financial statements.
Note Note 2 - The exclusion claimed for debt service requirements on bonded indebtedness of $5,855,536 is composed of the amounts reported as principal paid on capital debt and interest paid on capital debt on the Statement of Cash Flows—Primary Government.
Note Note 3 - Of the investment Of the investment Of the investment Of the investment Of the investment Of the investment Of the investment Of the investment Of the investment Of the investment Of the investment earnings earningsearningsearningsearnings of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, of $238,184 reported on the Statement Revenues, Expenses, and Changesand Changesand Changesand Changesand Changes and Changes in Net Assetsin Net Assetsin Net Assetsin Net Assetsin Net Assets in Net Assetsin Net Assetsin Net Assets in Net Assets in Net Assets—Primary Government, only $181,645 was expendPrimary Government, only $181,645 was expend Primary Government, only $181,645 was expend Primary Government, only $181,645 was expend Primary Government, only $181,645 was expendPrimary Government, only $181,645 was expend Primary Government, only $181,645 was expend Primary Government, only $181,645 was expendPrimary Government, only $181,645 was expend Primary Government, only $181,645 was expendPrimary Government, only $181,645 was expendPrimary Government, only $181,645 was expendPrimary Government, only $181,645 was expend Primary Government, only $181,645 was expend Primary Government, only $181,645 was expendPrimary Government, only $181,645 was expendPrimary Government, only $181,645 was expend Primary Government, only $181,645 was expend Primary Government, only $181,645 was expend Primary Government, only $181,645 was expended and claimed ed and claimed ed and claimed ed and claimed ed and claimed ed and claimed ed and claimed ed and claimed ed and claimed as an exclusion.as an exclusion. as an exclusion.as an exclusion.as an exclusion.as an exclusion. as an exclusion.as an exclusion. The remaining $56,539 remaining $56,539 remaining $56,539 remaining $56,539 remaining $56,539 remaining $56,539 remaining $56,539 remaining $56,539 consists of consists of consists of consists of consists of consists of consists of consists of $45 9 of interest interest interest in the the the Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which Loan Fund, which waswaswas not excludable, and $56,080not excludable, and $56,080not excludable, and $56,080 not excludable, and $56,080 not excludable, and $56,080not excludable, and $56,080 not excludable, and $56,080not excludable, and $56,080not excludable, and $56,080not excludable, and $56,080not excludable, and $56,080 not excludable, and $56,080 waswaswas investment nvestment nvestment nvestment nvestment nvestment earnings earningsearnings earnings of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness of the Retirement Indebtedness Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years. Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.Fund, which has been carried forward to future years.Fund, which has been carried forward to future years. Fund, which has been carried forward to future years. Fund, which has been carried forward to future years.
Note 4Note 4 - Government grants revenue of $24,993,176 reported on the Statement of Revenues, Expenses, and Changes in Net Assets—Primary Government includes $24,330,204 from federal grants.
Note Note 5 - The exclusion of $197,195 claimed for interfund transactions in the General Fund are amounts expended from indirect cost recoveries that were budgeted for as General Fund revenue and Restricted Fund expense. These indirect cost recoveries were eliminated from the financial statements for financial reporting purposes because they do not represent transactions to external parties.
Note Note 6 - The exclusion of $1,870,483 claimed for amounts accumulated for the purchase of land, and the purchase or construction of buildings or improvements consists of monies accumulated in the Unexpended Plant Fund, with the District Governing Board’s approval, used for building improvements and is included in the amount reported as purchases of capital assets on the Statement of Cash Flows—Primary Government. Yuma/La Paz Counties Community College District
(Arizona Western College)
Notes to Annual Budgeted Expenditure Limitation Report
Year Ended June 30, 2010
6
Note Note 7 - The District does not budget tuition and fees revenue net of scholarship allowances. Of the gross tuition and fees of $10,839,678 reported on the Statement of Revenues, Expenses, and Changes in Net Assets—Primary Government, only $8,129,758 was expended and claimed as an exclusion. The remaining $2,709,920 has been carried forward to future years. Yuma/La Paz Counties Community College District
(Arizona Western College)
Expenditure Limitation Report
Year Ended June 30, 2010
State of Arizona
Office of the Auditor General