The mission of the West Valley School District, a vital partner in a proud and caring community, is to ensure that all students achieve their highest level of knowledge, skills and attitudes necessary to be responsible and productive citizens, effective communicators, creative problem solvers and life-long learners.  Through mutual support and the combined efforts of our families, schools and community we will provide a safe, high quality learning environment in which each student experiences success every day.

 

Board of Directors 

Mike Carey

Sasha Kinloch

Mike Meyer, President

Staci Verbrugge

Steve Wolcott

 

Superintendent of Schools

Dr. Peter Ansingh
ansinghp@wvsd208.org

 

Assistant Superintendent for Learning & Teaching

Peter Finch
finchp@wvsd208.org

  

Assistant Superintendent for Business and Operations

Tom Fleming, CPA
flemingt@wvsd208.org

 

Introduction Highlights General Fund Summary Capital Projects Fund Summary Debt Service Fund Summary Associated Student Body Fund Summary Transportation Vehicle Fund Summary

INTRODUCTION

This document is a summary of the Financial Statements of the West Valley School District No. 208 for the school year ending August 31, 2007.  The year end financial summary represents a continuing effort to provide meaningful financial information to our community.

This document presents simplified financial information to aid the public’s understanding of how public schools are operated.  The financial information summarized within this document is shown in much greater detail in the formal budget, OSPI Form F-195 and the financial statements, OSPI Form F-196.  The OSPI Form F-196 contains the district’s formal financial statements and is audited annually by the State Auditors Office.

The Budget and Financial Summary contains information on the budgets for all five (5) district funds – the General Fund, Transportation Vehicle Fund, Capital Projects Fund, Debt Service Fund, and the Associated Student Body Fund.  If additional, more detailed information is required or you would like the audited financial statements, please contact the West Valley School District Business Office at (509) 972-6000.

We welcome your comments and suggestions.

 

            Dr. Peter Ansingh                                          Tom Fleming, CPA

            Superintendent                                               Assistant Supt. Business & Operations

 

West Valley School District No. 208
8902 Zier Road
Yakima, WA 98908 

Phone (509) 972-6000
Fax (509) 972-6001

 

 

HIGHLIGHTS

The budget for the 2006-07 school year was heavily influenced by a $216,028 decrease in Unreserved, Undesignated Fund Balance from the 2004-05 to the 2005-06 school year.  By the end of the 2004-05 school year, the Unreserved, Undesignated Fund Balance was extremely low with a balance of $602,275; an amount representing just 2.08% of expenditures.  As a result, the district has taken the necessary steps the past two years to rebuild the Unreserved, Undesignated Fund Balance.  The general rule of thumb for an adequate fund balance is to maintain 5% of expenditures.

As you follow through the General Fund section of this document you will see that the district has been accomplishing the goal to restore the Unreserved, Undesignated Fund Balance back to an adequate level.  As you can see below, the Unreserved, Undesignated balance has grown about $500,000 over the past two years.

The growth in fund balance over the past two years is the result of managing revenues and keeping them above expenditures.  To accomplish this goal the district made reductions in expenditures to every department and many education programs in 2005-06.  Many of the reductions were carried forward in 2006-07 thus continuing to increase fund balance.  The increase in fund balance was necessary to maintain the financial stability of the West Valley School District. 

 

In addition to increasing the fund balance, some of the other significant financial events that occurred during the year include:

 

Student Enrollment:

Funding to the school district from the State of Washington is dependent on student enrollment.  The enrollment for 2006-2007 was 38.78 FTE students over budgeted enrollment.  As a result of the increase in enrollment the district received about $160,000 in additional revenues.

 

Interest Revenue:

The district’s idle cash each month is invested with the Yakima County Treasurer.  In 2006-07 the interest rates on investment increased significantly resulting in a $100,000 increase in revenues.

 

OTHER BUDGET CONSIDERATIONS 

The district has an informal policy of allowing individual schools and departments to carryover unspent budgeted funds from one year to the next.  This practice has proven to be effective in that it provides schools and departments the ability to plan and manage their budgets from year to year.  For example, a school cannot afford to purchase a new copier in any one budget year.  By allowing carryovers the school can save up for the new copier over the course of several years and purchase the copier when they have available funds.

The practice of carryovers has created a large amount of fund balance that is reserved for school’s and department’s future purchases.  In budgeting, the district tries to estimate the amount that will be carried forward and include these potential expenditures in the budget.   In 2006-07 the budget included expenditures for carryover in the amount of $750,000.  There are no corresponding revenues included in the budget since the district has already received the revenue.  As a result, the budget for 2006-07 appears to be $646,583 out of balance when in actuality it was adopted to have revenues exceed expenditures by $103,417.  Throughout this document adjustments to expenditure schedules have been made to illustrate this budgeting practice and to more clearly represent the budgeted expenditures to actual expenditure for 2006-2007.

Enrollment

The district’s enrollment has been steadily increasing over the past several years.  The 2006-2007 budget was based on an enrollment projection of 4,480 FTE students (plus 36 FTE Running Start).  Enrollment for 2006-07 was 38.78 FTE higher than budget.  The majority of the increase was at the kindergarten and fourth grade levels.  The kindergarten class was the largest kindergarten class in the district’s history.

* Ninth and tenth grades show significant deviations from budget as a result of sophomores at the High School being classed as ninth graders for lack of sufficient credits to be classed as tenth graders.

 

 

 

Notes:

1)   All of the district’s cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term investments.  All of the district’s investments during the year and at year end were insured or registered and held by the Yakima County Treasurer in the district’s name.

 

2)   Property tax revenues are collected as the result of special levies passed by the voters in the district.  Taxes are levied on January 1.  The taxpayer has the option of paying all taxes on April 30 or one-half then and one-half on October 31.

 

3)   Due to Other Governmental Units represents the Promoting Academic Success Grant that was not fully expended during the year and will be reimbursed to the State.

 

4)   Reservation of Fund Balance represents food commodities in inventory for the Child Nutrition Department.

 

 

 

GENERAL FUND SUMMARY

GENERAL FUND 

Budget to Actual Summary

 

 

Notes:

1)  Local revenues were significantly higher resulting from higher interest income, local grants to schools and higher participation in the school lunch program.

 

2)  Federal Revenues exceeded budgeted revenues as a result of increasing participation in the school lunch program.  As participation increases so does the amount of reimbursement the district receives for free and reduced breakfast and lunches.

 

3)   The district budgets $535,000 in revenues for “capacity”.  School districts are not allowed to spend more in total dollars than are budgeted.  In order to allow for unanticipated receipts of grants, grant increases, and/or major donations, the district budgets an amount that will cover new revenues tied to specific new expenditures.  The revenue capacity has been removed to more clearly represent the budgeted to actual revenues for 2006-2007

Expenditure Summary by Program

 

Notes:

1)  Vocational (Career and Technical Education) expenditures were higher than budgeted as a result of increased enrollment in vocational classes.

2)  Expenditures in Chapter I-Disadvantaged and Learning Assistance were the result of spending funds that were carried over from 2005-06.  The funds were expended on after school programs to help students struggling in reading and math.

3)  Expenditures in Special and Pilot Programs vary from year to year based upon the number of grants that the district receives each year. In 2006-07 the district received a $30,000 Navigation 101 grant that was used to enhance the advisory programs at the 6^th -12^th grade levels.

4)  Other Community Services are expenditures generated though the Child Nutrition Program for catering activities.  These expenditures are required to be accounted for separately from school lunch expenditures.  The increase in expenditures in this category resulted from the Child Nutrition Department catering the state-wide Office of the Superintendent of Public Instruction’s (OSPI) summer conference that was held at the Junior High and Middle School in 2006.

5)  The district budgets $750,000 in expenditures for “carryovers” and $535,000 in expenditures for “capacity”.  The budgeted expenditures have been removed to more clearly represent the budgeted to actual expenditures for 2006-2007.

Expenditure Summary by Activity Groups