Audited Financial Statements and Supplementary Information (2011-12 Audit Report) Conway, Deuth, & Schmiesing, PLLP

Conway, Deuth, & Schmiesing, PLLP. (2012, June 30). Independent School District #347 Willmar Public Schools audited financial statements and supplementary information (2011-12 Audit Report). Retrieved from http://www.willmar.k12.mn.us/Page/1578

Management Letter (2011-12 Management Letter) Conway, Deuth, & Schmiesing, PLLP

Conway, Deuth, & Schmiesing, PLLP. (2012, June 30). Independent School District #347 Willmar Public Schools management letter (2011-12 Management Letter). Retrieved fromhttp://www.willmar.k12.mn.us/Page/1578

Audit Report (2011-12 Audit Presentation) Conway, Deuth, & Schmiesing, PLLP

Conway, Deuth, & Schmiesing, PLLP. (2012, June 30). Independent School District #347 Willmar Public Schools audit presentation (2011-12 Audit Presentation). Retrieved fromhttp://www.willmar.k12.mn.us/Page/1578

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Examine the Wilmar Schools documents in your readings, and answer the following questions:

1. Looking at the audit report, what were the total assets and total liabilities in 2012?

2. How would you describe the enrollment trends for Willmar between 2008 and 2012? What might be some of the reasons for this trend? (Hint: See audited financial statements.)

3. Looking at the figures for 2012, what is the breakdown in revenue source contributions from state, local property taxes, federal, and other?

4. Looking at expenditures for 2012, what percentage was allocated to salaries and benefits?

5. As noted in the audited financial statements, the District of Willmar has three kinds of funds governmental, proprietary, and fiduciary. What are these three types, and how do they differ?

6. Looking at the General Fund, list the sources of income and the sources of expenditure.