albuquerque municipal school district no. 12 los puentes … · los puentes charter school...

Exhibit A-1

STATE OF NEW MEXICO ALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO. 12

LOS PUENTES CHARTER SCHOOL STATEMENT OF NET POSITION

June 30, 2017

Governmental ComponentActivities Unit

ASSETS AND DEFERRED OUTFLOWS OF RESOURCESCurrent assets

Cash and cash equivalents $ 429,985 $ 77,899Receivables, net of allowance for uncollectibles:

Due from other governments 6,001 -Due from primary government - current portion - 96,343

Prepaid expenses - -Total current assets 435,986 174,242

Non-current assetsDue from primary government - non-current portion - 1,394,813Capital assets:

Land 590,000 -Building/Building Improvements 2,585,634 -Furniture, fixtures and equipment 189,262 -Less: accumulated depreciation (575,569) -

Total non-current assets 2,789,327 1,394,813

Total assets 3,225,313 1,569,055

Deferred outflows of resources related to net pension liability 453,415 -

TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES $ 3,678,728 $ 1,569,055

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITIONCurrent liabilities

Accrued liabilities $ 27,460 $ -Accounts payable - -Note payable - Current portionLong-term debt - Lease purchase - current portion 96,343

96,343

Total current liabilities 123,803 96,343

Non-current liabilitiesNet pension liability 2,640,371 -Note payable - 1,394,813Long-term debt - Lease purchase 1,394,813 -

Total non-current liabilities 4,035,184 1,394,813

Total liabilities 4,158,987 1,491,156

Deferred inflows of resources related to net pension liability 363,507 -

Net investment in capital assets 1,298,171 -Restricted 95,758 -Unrestricted (2,237,695) 77,899

Total net position (843,766) 77,899

TOTAL LIABILITIES, DEFERRED INFLOWS OFRESOURCES AND NET POSITION $ 3,678,728 $ 1,569,055

The accompanying notes are an integral part of the financial statements.

G-1

Exhibit A-2


LOS PUENTES CHARTER SCHOOL STATEMENT OF ACTIVITIES

Year Ended June 30, 2017

__________ Program Revenues__________Net Revenues

Operating Capital (Expenses)Charges for Grants and Grants and and Changes Component

Expenses Services Contributions Contributions in Net Position____________ UnitFUNCTIONS/PROGRAMS

Governmental activities:Instruction $ 1,152,410 $ 15,292 $ 171,127 $ $ (965,991) $ -Support services:

Students 622,866 - 19,286 - (603,580) -

Instruction 22,846 - - - (22,846) -

General Administration 33,017 - - - (33,017) -School Administration 194,016 - 694 - (193,322) -

Central Services 159,630 - - - (159,630) -Operation & Maintenance of Plant 211,071 - - - (211,071) -Student Transportation - - - - - -Other Support 2,254 - - - (2,254)

Operating of Non-instructional ServicesFood Services Operations 12,625 - - - (12,625) -Community Services Operations - - - - - -

Facilities, Materials, Suppliesand Other Services 88,936 129,166 4,504 44,734 -

Lease purchase - interest expense 134,644 - - - (134,644) -

TOTAL GOVERNMENTAL ACTIVITIES $ 2,634,315 $ 15,292 $ 320,273 $ 4,504 (2,294,246)

COMPONENT UNITFoundation $ 112,264 $ - $ - $ - - (112,264)

GENERAL REVENUESState Equalization Guarantee 2,207,148Miscellaneous - 135,398Property Taxes 176,259 -

Total general revenues 2,383,407 135,398

Change in net position 89,161 23,134

Net position, beginning of year (932,927) 54,765

Net position, end of year $ (843,766) $_____ 77,899


G-2

STATE OF NEW MEXICO Exhibit B-1ALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO, 12

LOS PUENTES CHARTER SCHOOL BALANCE SHEET - GOVERNMENTAL FUNDS

June 30, 2017

11000 14000 21000 24101 24106

Instructional Food Title I IDEA-B

General Materials Services IASA Entitlement

ASSETS

Cash and cash equivalents $ 339,704 $ 3,131 $ - $ 495 $ 29Accounts receivable:

Due from other governments - - - - -

Due from other funds - - - - -

Prepaid expenses - - - - -

TOTAL ASSETS $ 339,704 $ 3,131 $ $ 495 $ 29

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCE

Current liabilities:

Accounts payable $ - $ - $ - $ - $ -

Accrued expenses 26,936 - - 495 29Due to other funds - - - - -

Due to other governments - - - - -

Total current liabilities 26,936 - - 495 29

Deferred inflows of resources - unavailable revenues

Fund balances:

Nonspendable - - - - -

Restricted - 3,131 - - -

Committed - - - -

Assigned 201,655 - - - -

Unassigned (deficit) 111,113 - - - -

Total fund balance (deficit) 312,768 3,131 - - -

TOTAL LIABILITIES, DEFERRED INFLOWS

OF RESOURCES AND FUND BALANCE $ 339,704 $ 3,131 $ - $ 495 $ 29

G-3

STATE OF NEW MEXICO Exhibit B-1ALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO. 12

LOS PUENTES CHARTER SCHOOL

BALANCE SHEET - GOVERNMENTAL FUNDS June 30, 2017

24153 24154 24162 25153 26163

English Teacher/

Language

Acquisition

Principal

Training

Title I School

Improvement

Title XIX

Medicaid

Golden Apple

Foundation

ASSETS

Cash and cash equivalents $ $ - $ $ 4,070 $ 237Accounts receivable:

Due from other governments - - - - -



TOTAL ASSETS $ $ $ $ 4,070 $ 237




Accounts payable $ $ - $ $ - $

Accrued expenses - - - - -

Due to other funds - - - - -


Total current liabilities - - - - -

Deferred inflows of resources - unavailable revenues

Fund balances:


Restricted - - - 4,070 237Committed - - - - -

Assigned - - - - -

Unassigned (deficit) - - - - -

Total fund balance (deficit) - - - 4,070 237


OF RESOURCES AND FUND BALANCE $ $ - $ $ 4,070 $ 237

G-4



BALANCE SHEET - GOVERNMENTAL FUNDS

June 30, 2017

27103 27183 31200 31600 31700

NM Grown

Dual Credit

Instruction

Fresh Fruits

& VegetablesPublic School

Capital Outlay

HB33 Capital

Improvements

State SB9 Capital

Improvements

ASSETS

Cash and cash equivalents $ - $ $ $ 38,519 $Accounts receivable:

Due from other governments - ■ - 3,780 -



TOTAL ASSETS $ $ $ $ 42,299 $




Accounts payable $ - $ $ $ $Accrued expenses - - - - -

Due to other funds - - - - -


Total current liabilities - . . - .

Deferred inflows of resources - unavailable revenues 1,027

Fund balances:


Restricted - - - 41,272 -

Committed - - - - -

Assigned - - - - -

Unassigned (deficit) - - - ' -

Total fund balance (deficit) - - - 41,272 -


OF RESOURCES AND FUND BALANCE $ - $ $ $ 42,299 $

G-5

STATE OF NEW MEXICO

ALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO. 12 LOS PUENTES CHARTER SCHOOL

BALANCE SHEET - GOVERNMENTAL FUNDS June 30, 2017

31701

Total

Local SB9 Capital Primary

Improvements Government

ASSETS

Cash and cash equivalents $ 43,800 $ 429,985

Accounts receivable:

Due from other governments 2,221 6,001

Due from other funds - -

Prepaid expenses - -

TOTAL ASSETS $ 46,021 $ 435,986




Accounts payable $ - $ -

Accrued expenses - 27,460

Due to other funds - -

Due to other governments - -

Total current liabilities - 27,460

Deferred inflows of resources - unavailable revenues 879 1,906

Fund balances:

Nonspendable - -

Restricted 45,142 93,852

Committed - -

Assigned - 201,655

Unassigned (deficit) - 111,113

Total fund balance (deficit) 45,142 406,620


OF RESOURCES AND FUND BALANCE $ 46,021 $ 435,986


G-6

Exhibit B-1

Exhibit В-2


LOS PUENTES CHARTER SCHOOL RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS

TO THE STATEMENT OF NET POSITION June 30, 2017

Total Fund Balance - Governmental Funds (Governmental Fund Balance Sheet) $ 406,620

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.

The cost of capital assets is 3,364,896Accumulated depreciation is (575,569)

Total capital assets 2,789,327

Deferred inflows and outflows of resources related to the net pension liability and not reported in the funds.

Deferred outflows of resources___________________________________ _____ 453,415

Deferred inflows of resources (363,507)

Deferred inflows of resources - unavailable property taxes 1,906

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

Long-term and other liabilities at year end consist of:

Net pension liability (2,640,371)Long-term debt - Lease purchase (1,491,156)

Total long-term and other liabilities (4,131,527)

Net position of governmental activities (Statement of Net Position) $ (843,766)


G-7


LOS PUENTES CHARTER SCHOOL STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN

FUND BALANCES - GOVERNMENTAL FUNDS Year Ended June 30,2017

11000

General*

14000

InstructionalMaterials

21000

FoodServices

24101

Title I IASA

24106

IDEA-B

Entitlement

REVENUES

Property taxes $ $ - $ $ - $

Local and county sources 15,292 - - - -

State sources 2,207,148 11,715 - - -

Federal sources - - - 72,019 59,662

Interest - - - - -

Total revenues 2,222,440 11,715 72,019 59,662

EXPENDITURES

Current:Instruction 967,164 17,434 - 60,899 53,856

Support services:

Students 600,997 - - 11,120 5,806

Instruction 22,846 - - - .

General administration 31,250 - - - -

School administration 191,566 - - - -

Central services 159,630 - - - -

Operation & maintenance of plant 211,071 - - - -

Student transportation - - - - -

Other support services 2,254 - - - -

Operation of non-instructional services:

Community services operations - - - - -

Food services operations 7,178 - 5,447 - -

Capital outlay 52,153 - - - -Lease purchase - principal payments 33,954 - - - -Lease purchase - interest payments 18,746 - - - -

Total expenditures 2,298,809 17,434 5,447 72,019 59,662

Excess (deficiency) of revenues over (under)

expenditures (76,369) (5,719) (5,447) - -

Other financing sources (uses):Other financina sources - - - - -

Total other financing

sources (uses)

NET CHANGES IN FUND BALANCES

- - - - -

(76,369) (5,719) (5,447) - -

FUND BALANCES, BEGINNING OF YEAR 389,137 8,850 5,447 _

FUND BALANCES, END OF YEAR $ 312,768 $ 3,131 $ $ . $

‘Fund type is either the general fund or a major specical revenue fund with a legally adopted

budget that is presented as required by the New Mexico State Auditor.

G-8



FUND BALANCES - GOVERNMENTAL FUNDSYear Ended June 30, 2017

24153 24154

English Teacher/

Language Principal Acquisition Training

24162

Title I School Improvement

25153

Title XIX

Medicaid

26163

Golden Apple

Foundation

REVENUES

Property taxes $ $ - $ - $ - $Local and county sources - - - - -State sources - - - 2,360 -

Federal sources 2,273 16,128 24,000 - -

Interest - - - - -

Total revenues 2,273 16,128 24,000 2,360

EXPENDITURES

Current:Instruction 2,273 15,434 24,000 - -

Support services:

Students - - - - -

Instruction - - - - -

General administration - - - - -

School administration - 694 - -

Central services - - - -

Operation & maintenance of plant - - - ■ -

Student transportation - - - - -Other support services - ■ - - -


Community services operations - - - - -

Food services operations - - - -

Capital outlay - - - - -

Lease purchase - principal payments - - - - -Lease purchase - interest payments - - - - -

Total expenditures 2,273 16,128 24,000 - .

Excess (deficiency) of

revenues over (under)

expenditures - - - 2,360 -

Other financing sources (uses):

Other financina sources - - - - -

Total other financing

sources (uses)


- - - - -

- - - 2,360 -

FUND BALANCES, BEGINNING OF YEAR _ _ _ 1,710 237

FUND BALANCES, END OF YEAR $ $ $ - $ 4,070 $ 237

G-9



FUND BALANCES - GOVERNMENTAL FUNDS Year Ended June 30, 2017

27103

Dual Credit Instruction

27183

NM Grown Fresh

Fruits & Vegetables

31200

Public School Capital Outlay

31600

HB33 Capital Improvements

31700

State SB9 Capital Improvements

REVENUES

Property taxes $ $ $ $ 119,497 $Local and county sources - - . - -

State sources 2,950 - 129,166 - 4,504

Federal sources - - - - -

Interest - - - - -

Total revenues 2,950 129,166 119,497 4,504

EXPENDITURES

Current:

Instruction 2,950 - ■ - -

Support services:

Students - - - - -

Instruction - - - - -

General administration - - - 1,183 -

School administration - - - - -

Central services - - - - -

Operation & maintenance of plant - - - - -

Student transportation - - - - -

Other support services - - ■ - -


Community services operations - - - - -Food services operations - - - - -

Capital outlay - - - - -

Lease purchase - principal payments - - 83,223 90,651 2,902Lease purchase - interest payments - - 45,943 50,043 1,602

Total expenditures 2,950 . 129,166 141,877 4,504


revenues over (under)

expenditures - - - (22,380) -


Other financing sourcesTotal other financing

sources (uses)


- - - - -

- - - (22,380) -

FUND BALANCES, BEGINNING OF YEAR _ _ 63,652

FUND BALANCES, END OF YEAR $ $ $ $ 41,272 $ - .

G-10



FUND BALANCES - GOVERNMENTAL FUNDS Year Ended June 30, 2017

31701

Total

Loca ISB9 Capital PrimaryImprovements Government

REVENUES

Property taxes $ 58,893 $ 178,390

Local and county sources - 15,292State sources - 2,357,843

Federal sources - 174,082

Interest - -

Total revenues 58,893 2,725,607

EXPENDITURES

Current:

Instruction - 1,144,010

Support services:

Students - 617,923

Instruction - 22,846

General administration 584 33,017

School administration - 192,260

Central services - 159,630

Operation & maintenance of plant - 211,071

Student transportation - -

Other support services - 2,254


Community services operations - -

Food services operations - 12,625

Capital outlay - 52,153

Lease purchase - principal payments 33,167 243,897Lease purchase - interest payments 18,310 134,644

Total expenditures 52,061 2,826,330


revenues over (under)expenditures 6,832 (100,723)


Other financing sources - -Total other financing

sources (uses) - -

NET CHANGES IN FUND BALANCES 6,832 (100,723)

FUND BALANCES, BEGINNING OF YEAR 38,310 507,343

FUND BALANCES, END OF YEAR $ 45,142 $ 406,620


G-11

Exhibit В-4


LOS PUENTES CHARTER SCHOOL RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,

AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES


Net Changes in Fund Balances - Total Governmental Funds (Statement of Revenues, Expenditures, and Changes in

Fund Balances) $_____(100,723)

Amounts reported for governmental activities in the Statement of Activities are different because:

In the Statement of Activities, certain operating expenses - compensated absences (sick and annual leave) are measured by the amounts earned during the year. In the Governmental Funds, however, expenditures for these items are measured by the amounts of financial resources used (essentially, the amounts actually paid).

Expenses related to the net pension liability not reported in the funds. (15,099)

Unavailable revenues - property taxes (2,131)

Governmental Funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense.In the current period, these amounts were:

Capital outlay 102,785Depreciation expense (139,568)

Excess of depreciation expense over capital outlay (36,783)

The issuance of long-term debt (e.g., bonds, notes, leases) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds.

Proceeds from capital lease Lease purchase principal payments

Excess proceeds over payments

Change in net position of governmental activities (Statement of Activities)

243.897

$ 89,161


G-12

Exhibit С-1

STATE OF NEW MEXICO ALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO, 12

LOS PUENTES CHARTER SCHOOL GENERAL FUND (FUND 11000)

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET (BUDGETARY BASIS) AND ACTUAL


Actual Variance From Budgeted Amounts Amounts Final Budget

Original________Final (Budgetary Basis) Positive (Negative)REVENUES

Local and county sources $ $ $ 15,292 $ 15,292State sources 2,283,949 2,206,280 2,207,148 868Federal sources - - - -

Interest - - - -

TOTAL REVENUES 2,283,949 2,206,280 2,222,440 16,160

EXPENDITURESCurrent:

Instruction 902,706 989,494 967,964 21,530Support Services:

Students 617,640 628,254 606,519 21,735Instruction 28,609 28,977 22,846 6,131General administration 37,291 38,279 32,251 6,028School administration 176,283 202,783 194,220 8,563Central services 147,169 160,230 159,630 600Operation & maintenance of plant 142,486 246,436 216,481 29,955Student transportation - - - -Other support services 501,493 184,676 2,254 182,422

Operation of non-instructional services: 'Community services operations - - - -Food services operations 15,852 15,852 7,178 8,674

Capital outlay 63,671 115,825 104,853 10,972

TOTAL EXPENDITURES 2,633,200 2,610,806 2,314,196 296,610

EXCESS (DEFICIENCY) OF REVENUESOVER (UNDER) EXPENDITURES (349,251) (404,526) (91,756) 312,770

DESIGNATED CASH 349,251 404,526 (404,526)

NET CHANGES IN FUND BALANCES $ $ (91,756) $ (91,756)

RECONCILIATION TO GAAP BASISAdjustments to revenues -Adjustments to expenditures 15,387

NET CHANGES IN FUND BALANCES $ (76,369)


G-13

Exhibit D-1


LOS PUENTES CHARTER SCHOOL STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES - AGENCY FUNDS

June 30, 2017

AgencyFunds

ASSETSCash and cash equivalents $ 1,709

TOTAL ASSETS $ 1,709

LIABILITIESDeposits held for others $ 1,709

TOTAL LIABILITIES $ 1,709


G-14

Exhibit D-2


LOS PUENTES CHARTER SCHOOL SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES - AGENCY FUNDS


Balance, Balance,Julyl, June 30,2016 Additions Deletions 2017

ASSETSCash and cash equivalents $ 1,963 $ 29,711 $ (29,965) $ 1,709

TOTAL ASSETS $ 1,963 $ 29,711 $ (29,965) $ 1,709

LIABILITIESDeposits held for others $ 1,963 $ 29,711 $ (29,965) $ 1,709

TOTAL ASSETS $ 1,963 $ 29,711 $ (29,965) $ 1,709


G-15

Schedule I


LOS PUENTES CHARTER SCHOOL SCHEDULE OF COLLATERAL PLEDGED BY DEPOSITORY

FOR PUBLIC FUNDS June 30, 2017

Fair/ParDescription of Market Value

Name of Depository____________Pledged Collateral_________ June 30, 2017

US Bank FNMA Pool 465373Matures 06/01/2020 $ 496,206

US Bank FNMA Pool AE9341Matures 11/01/2025 14,529

US Bank FNMA Pool AE9826Matures 12/01/2025 42,822

US Bank FNMA Pool AJ8155Matures 12/01/2026 32,663

586,220

Total amount on deposit $ 463,809

Less FDIC (251,709)

Total uninsured public money 212,100

50% collateral requirement 106,050

Total pledged 586,220

Over/(under) pledged $ 480,170

SafekeepingAgent

US Bank

US Bank

US Bank

US Bank


G-16

Schedule II


LOS PUENTES CHARTER SCHOOL SCHEDULE OF CASH AND CASH EQUIVALENTS

June 30, 2017

Operating account (Including activity) $_____ 463,809

Total on deposit

Reconciling items

Reconciled balance at June 30, 2017

Less activity funds

Balance per Exhibit A-1

463,809

(32,115)

431,694

(1,709)

$ 429,985


G-17

STATE OF NEW MEXICO Schedule IIIALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO. 12

LOS PUENTES CHARTER SCHOOL CASH RECONCILIATION

June 30, 2017

Operational Pupil Instructional Food Student ProjectsAccount Transportation Materials Services Activity Account

11000 13000 14000 21000 23000 24000

June 30, 2016 Cash (Book Balance) $ 461,317 $ - $ 8,850 $ 5,502 $ - $ 12,265

June 30, 2016 Payroll Liabilities (106,597) . . (55) . (14,107)June 30, 2016 Temporary Interfund Loans 49,804 - - - - (13,912)June 30, 2016 Adjustments/Reconciling Differences - - - - - -

June 30, 2016 Cash Available to Budget 404,524 - 8,850 5,447 - (15,754)

2016-2017 Revenue 2,222,440 . 11,715 . 189,8362016-2017 Expenditures (2,314,196) - (17,434) (5,447) - (174,082)Permanent Cash Transfers/Reversions - - - - - -Adjustments - - - - - -

June 30, 2017 Cash Available to Budget 312,768 - 3,131 - - -

June 30, 2017 Payroll Liabilities 26,936 . . . 524June 30, 2017 Temporary Interfund Loans - - - - - -June 30, 2017 Adjustments/Reconciling Differences - - - - - -

June 30, 2017 Cash (Book Balance) $ 339,704 $ $ 3,131 $ $ $ 524

Reconciliation to PED Cash Report Line 7

June 30, 2017 Cash (Book Balance) $ 339,704 $ $ 3,131 $ $ - $ 524June 30, 2017 Payroll Liabilities (26,936) - - - - (524)June 30, 2017 Temporary Interfund Loans - - - - - -Audit adjustments and reclassifications - - . . - -

Line 7 PED Cash Report June 30, 2017 * $ 312,768 $ $ 3,131 $ - $ - $ -

* May Include rounding errors when compared to PED Cash Report

G-18



June 30, 2017

Direct Grants State State Local/State Public SchoolAccount Fund Flowthrough Fund Direct Account Account Capital Outlay

25000 26000 27000 28000 29000 31200

June 30, 2016 Cash (Book Balance) $ 1,710 $ 237 $ $ $ $

June 30, 2016 Payroll LiabilitiesJune 30, 2016 Temporary Interfund LoansJune 30, 2016 Adjustments/Reconciling Differences

- --

(35,892)

June 30, 2016 Cash Available to Budget 1,710 237 (35,892)

2016-2017 Revenue 2016-2017 Expenditures Permanent Cash Transfers/Reversions

Adjustments

2,360

-

2,950(2,950)

165,058(129,166)

June 30, 2017 Cash Available to Budget 4,070 237 - -

June 30, 2017 Payroll LiabilitiesJune 30, 2017 Temporary Interfund LoansJune 30, 2017 Adjustments/Reconciling Differences

- - _ -

June 30, 2017 Cash (Book Balance) $ 4,070 $ 237 $ $ $ $


June 30, 2017 Cash (Book Balance) $ 4,070 $ 237 $ $ $ $June 30, 2017 Payroll Liabilities - - - - - -

June 30, 2017 Temporary Interfund Loans - - - - - -

Audit adjustments and reclassifications - - - - - -

Line 7 PED Cash Report June 30, 2017 * $ 4,070 $ 237 $ $ $ $ -

* May include rounding errors when compared to PED Cash Report

G-19



June 30, 2017

Capital Improve. Capital Improve. Capital Improve. TotalHB33 SB 9 SB 9 Primary31600 31700 31701 Government

June 30, 2016 Cash (Book Balance) $ 60,845 $ 28,302 $ $ 579,028

June 30, 2016 Payroll Liabilities - - - (120,759)June 30, 2016 Temporary Interfund Loans - - - -

June 30, 2016 Adjustments/Reconciling Differences - - - -

June 30, 2016 Cash Available to Budget 60,845 28,302 - 458,269

2016-2017 Revenue 119,551 4,504 67,559 2,785,9732016-2017 Expenditures (141,877) (4,504) (52,061) (2,841,717)Permanent Cash Transfers/Reversions - (28,302) 28,302 -

Adjustments - - - -

June 30, 2017 Cash Available to Budget 38,519 - 43,800 402,525

June 30, 2017 Payroll Liabilities . . . 27,460June 30, 2017 Temporary Interfund Loans - - - -

June 30, 2017 Adjustments/Reconciling Differences - - - -

June 30, 2017 Cash (Book Balance) $ 38,519 $ $ 43,800 $ 429,985


June 30, 2017 Cash (Book Balance) $ 38,519 $ $ 43,800 $ 429,985June 30, 2017 Payroll Liabilities - - - (27,460)June 30, 2017 Temporary Interfund Loans - - - -

Audit adjustments and reclassifications - - - -

Line 7 PED Cash Report June 30, 2017 * $ 38,519 $ $ 43,800 $ 402,525

* May include founding errors when compared to PED Cash Report

G-20


SCHEDULE OF FINDINGS AND QUESTIONED COSTS June 30, 2017

SECTION II - FINANCIAL STATEMENT FINDINGS (CONTINUED)

LA ACADEMIA DE ESPERANZA ÍCONTINUED)

2017-021 Internal Control over Financial Reporting (Material Weakness) (Continued)

Management's Response: Management will establish an internal control structure to ensure that transactions are recorded in the correct year. Management will notify the audit team in advance of any transactions that were received after June 30 and need to be recorded as of June 30 to ensure the financial statements are correct. Capital assets will be added to the capital asset schedule when the purchase is received to ensure the schedule is current.

Implementation: Ongoing

Person Responsible: Business Manager


2017-019 Internal Control over Journal Entries (Compliance and Other Matters)

Condition: During our review of journal entries we noted one journal entry, totaling $434, did not include adequate supporting documentation for the adjustment.

Criteria: Every school district shall establish and maintain an internal control structure to provide management with reasonable assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with GAAP.

Context: See Condition.

Cause: Lack of clear and sufficient documentation.

Effect: Journal entry was authorized without proper documentation.

Auditor's Recommendation: We recommend management ensure sufficient documentation exits prior to posting journal entries.

Management's Response: Management will ensure journal entries have adequate supporting documentation.



Page 318

STATE OF NEW MEXICO ALBUQUERQUE MUNICIPAL SCHOOL DISTRICT NO. 12 SCHEDULE OF FINDINGS AND QUESTIONED COSTS

June 30, 2017

SECTION II - FINANCIAL STATEMENT FINDINGS (CONTINUED)

LOS PUENTES CHARTER SCHOOL (CONTINUED)

2017-020 Bank Reconciliation (Compliance and Other Matters)

Condition: During our review bank reconciliations, we noted bank reconciliations were not prepared for the student activity bank account during fiscal year 2017.

Criteria: Per NMAC 6.20.2.14.К states that all bank accounts shall be reconciled on a monthly basis and reviewed by the business manager. PASB Supplement 7 includes outstanding checks and deposits as components of a bank reconciliation.

Context: See Condition.

Cause: Management oversight

Effect: Non-compliance with state statute.

Auditor's Recommendation: We recommend that management prepare monthly bank reconciliations for all accounts.

Management's Response: The student activity account was managed outside of the business office accounting system for many years. Los Puentes Charter School has since moved the accounting of the student activities fund into the main accounting system and main bank account. Bank account reconciliations will be performed on a monthly basis starting in Fiscal Year 2018.



FRIENDS OF THE MONTESSORI FOUNDATION

2017-031 Internal Control Structure (Material Weakness)

Condition: During our audit, we encountered the following issues:

• During our review of cash receipts, we noted approximately $25,427 of cash receipts in which the same individual recounted the cash deposit, approved the cash summary sheet and prepared the deposit.

• During our review of cash disbursements, we noted cashier's checks of $6,211.90 were obtained to issue payments. The Foundation was only able to provide support of cashier's checks of $5,902.27, which resulted in $309.63 of cashier's check(s) that were not accounted for.

• During our review of cash disbursements, we noted that purchase orders were inconsistently prepared, which resulted in one over expenditure, one instance of the purchase proceeding purchase order and one instance in which a purchase order was not prepared.

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