Full audit report

Administrator

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• Publié par: Chiod
• Nombre de lectures: 38
• Langue: English

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SOUTHWESTERN OREGON COMMUNITY
COLLEGE DISTRICT


ANNUAL FINANCIAL REPORT


For the Year Ended June 30, 2009 SOUTHWESTERN OREGON COMMUNITY
COLLEGE DISTRICT


COLLEGE DISTRICT OFFICIALS
As of June 30, 2009


Lonny Anderson
Board Chair
2008 State Street
North Bend, OR 97459


Cherie Mitchell
Board Vice Chair
PO Box 1104
Brookings, OR 97415


Harry Abel
93706 Pickett Lane
Coos Bay, OR 97420


David Bridgham
PO Box 752
North Bend, OR 97459


Rick Howell
94442 Carlson Heights Lane
North Bend, OR 97459


Marcia Jensen
68001 Rhoadie Lane
North Bend, OR 97459


Carol Oelke
66470 E. Bay Drive
North Bend, OR 97459

______________________________________________________________


Dr. Judith Hansen, President/Clerk Patty Scott, President/Clerk
(resigned October of 2008) (started October of 2008)


Dr. Sheldon Meyer, Linda Kridelbaugh,
Vice President of Administrative Services Vice President of Administrative Services
(retired October of 2008) (started October of 2008)


Ron Olson – Business Office Director


Southwestern Oregon Community College
1988 Newmark Avenue
Coos Bay, OR 97420 SOUTHWESTERN OREGON COMMUNITY
COLLEGE DISTRICT

ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2009

TABLE OF CONTENTS
Page

COLLEGE DISTRICT OFFICIALS Previous

FINANCIAL SECTION

Independent Auditor’s Report 1-2

Management’s Discussion and Analysis 3-13

Basic Financial Statements

Statement of Net Assets 14-15

Statement of Revenues, Expenses, and Changes in Net Assets 16-17

Statement of Cash Flows 18-19

Notes to the Basic Financial Statements 20-47

REQUIRED SUPLEMENTARY INFORMATION

Schedule of Funding Progress for Other Post Employment Benefit 48

SUPPLEMENTAL FINANCIAL INFORMATION

Combining Balance Sheet 49

Combining Schedule of Revenues, Expenditures, and
Changes in Fund Balances in Compliance with GAAP 50

Reconciliation of Combining Balance Sheet to Statement of Net Assets 51

Reconciliationng Schedule of Revenues, Expenditures, and
Changes in Fund Balance to Statement of Revenues, Expenses, and
Changes in Net Assets 52-53

Combining, Individual Funds, and Other Financial Schedules

General Fund

Schedule of Revenues, Expenditures, and Changes in Fund Balance
- Budget and Actual (Non-GAAP Budgetary Basis) 54

Special Revenue Funds

Combining Balance Sheet 55

Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances 56


SOUTHWESTERN OREGON COMMUNITY
COLLEGE DISTRICT

ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2009


TABLE OF CONTENTS (continued)

Page
Special Revenue Funds (continued)
Schedules of Revenues, Expenditures, and Changes in Fund Balance
- Budget and Actual

Financial Aid Fund 57

Special Projects Fund 58

Insurance Reserve Fund 59

Debt Service - Bonded Debt Fund

Schedule of Revenues, Expenditures, and Changes in Fund Balance
- Budget and Actual 60

Capital Projects - Plant Fund

Schedule of Revenues, Expenditures, and Changes in Fund Balance
- Budget and Actual 61

Proprietary Funds

Combing Balance Sheet 62

Combining Schedule of Revenues, Expenses, and Changes in
Retained Earnings in Compliance with GAAP 63

Combining Schedule of Cash Flows - All Proprietary Fund Types 64

Schedule of Revenues, Expenses, and Changes in Retained Earnings
- Budget (Non-GAAP Budgetary Basis) and Actual

Enterpise Fund 65

Internal Service Fund 66

Trust and Agency Fund

Schedule of Changes in Assets and Liabilities 67

Schedule of Revenues, Expenses, and Changes in Working Capital
- Budget (Non-GAAP Budgetary Basis) and Actual 68

Notes to Budgetary Comparison Schedules 69

SUPPLEMENTAL FINANCIAL SCHEDULES

Combining Balance Sheet - All Enterprise Funds 70

Combining Schedule of Revenues, Expenses, and Changes in
Retained Earnings - All Enterprise Funds 71 SOUTHWESTERN OREGON COMMUNITY
COLLEGE DISTRICT

ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2009


TABLE OF CONTENTS (continued)

Page

SUPPLEMENTAL FINANCIAL SCHEDULES (continued)

Intercollegiate Athletics 72

AUDIT SECTION

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 73-74

Other Supplementary Financial Information and Comments and Disclosures
Required by State Regulations 75-77

Federal Financial Assistance Program Compliance

Report on Compliance with Requirements Applicable to Each Major
Program and Internal Control over Compliance in Accordance
with OMB Circular A-133 78-79

Schedule of Findings and Questioned Costs 80-98

Schedule of Expenditures of Federal Awards 99-100

Notes to the Schedule of Expenditures of Federal Awards 101
















FINANCIAL SECTION
CERTIFIED PUBLIC ACCOUNTANTS ALL & ALL, P.C.W W
J. ROBERT WALL, C.P.A.
KAREN S. WALL, C.P.A.


INDEPENDENT AUDITOR’S REPORT



To the Governing Body of the Southwestern Oregon Community College District:


We have audited the accompanying financial statements of the business-type activities, and the
aggregate remaining fund information of Southwestern Oregon Community College District (the primary
government), as of and for the year ended June 30, 2009, which collectively comprise the College
District’s basic financial statements as listed in the table of contents. These financial statements are
the responsibility of Southwestern Oregon Community College District’s (College District) management.
Our responsibility is to express opinions on these basic financial statements based on our audit. We
did not audit the financial statements of Southwestern Oregon Community College Foundation, Inc. (the
discretely presented component unit), which represents 4.6%, 20.6%, and 1.1%, respectively, of the
assets, net assets, and revenues of the College District. Those financial statements were audited by
other auditors whose report thereon has been furnished to us, and our opinions, insofar as they relate
to the amounts included for the College District, are based on the report of the other auditors. The
discretely presented component unit’s (Southwestern Oregon Community College Foundation, Inc.)
financial statements as of, and for the year ended, June 30, 2009, were audited by these other auditors
whose report dated November 24, 2009, rendered an unqualified opinion.

We conducted our audit in accordance with auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a reasonable basis for our
opinions.

In our opinion, based on our audit and the report of the other auditors, the financial statements referred
to above present fairly, in all material respects, the respective financial position of the business-type
activities, the aggregate discretely presented component unit, and the aggregate remaining fund
information of Southwestern Oregon Community College District, as of June 30, 2009, and respective
changes in financial position, and cash flows of the primary government for the year then ended in
conformity with accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued a report dated December 16,
2009, on our consideration of Southwestern Oregon Community College District’s internal control over
financial reporting and on our tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements