Solanco School District
Comprehensive Annual Financial Report
For the Fiscal Year Ended June 30, 2007
Table of Contents
INTRODUCTION SECTION
Letter of Transmittal	I -1 to I -11
Certificate of Excellence in Financial Reporting,
Association of School Business Officials International	I-12
Certificate of Achievement for Excellence in Financial Reporting,
Government Finance Officers Association	I-13
Board of School Directors and Principal Officials	I-14
Organizational Chart	I-15
Schedule for Curriculum Review Cycle	I-16
FINANCIAL SECTION
Independent Auditors' Report	F-1 to F-2
Management's Discussion and Analysis	F-3 toF-25
BASIC FINANCIAL STATEMENTS
Statement of Net Assets -Total Primary Government	F-28 toF -29
Statement of Activities -Total Primary Government	F -30
Balance Sheet -Governmental Funds	F -31
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets	F -32
Statement of Revenues, Expenditures, and Changes in Fund Balances -Governmental Funds	F-33 to F-34
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures, and Changes in Fund Balances to the Statement of Activities	F35 to F36
Statement of Net Assets -Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Assets -Proprietary Funds	F -38
Statement of Cash Flows -Proprietary Funds	F-39 toF -40
Statement of Net Assets -Fiduciary Funds	F -41
Statement of Changes in Fiduciary Net Assets -Fiduciary Funds	F -42
Notes to the Basic Financial Statements	F -44 to F -69
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Revenues, Expenditures, and Changes in Fund Balances -
Budget to Actual -General Fund	F-72 to F73
Notes to Required Supplementary Information	F -74
COMBINING INDIVIDUAL FUND SCHEDULES (SUPPLEMENTAL RNANCIAL INFORMATION)
GENERAL FUND
Schedule of General Fund Revenues and Other Financing Sources -
Budget to Actual Comparison	F -76 to F -77
Schedule of General Fund Expenditures and Other Financing Uses -
Budget to Actual Comparison	F -78 to F -83
DEBT SERVICE SUB-FUNDS
Combining Balance Sheet -Debt Service Sub-Funds	F -86
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance -Debt Service Sub-Funds	F -87
PROPRIETARY FUNDS -INTERNAL SERVICE FUNDS
Combining Schedule of Net Assets -Proprietary Funds	F -89
Combining Schedule of Revenues, Expenses, and Changes in Fund Net Assets -Proprietary Funds	F -90
Combining Schedule of Cash Flows -Proprietary Funds	F -91
PRIVATE PURPOSE TRUST FUNDS AND AGENCY FUNDS
Combining Schedule of Net Assets -Private Purpose Trust Funds	F -94 to F -97
Combining Schedule of Changes in Net Assets -Private Purpose Trust Funds	F -98 to F -101
Combining Schedule of Changes in Assets and Liabilities -Agency Funds	F -102
STATISTICAL SECTION
FINANCIAL TRENDS
Net Assets by Component	S -2
Changes in Net Assets	S-3 toS-5
Fund Balances of Governmental Funds	S -6
Unreserved/Undesignated General Fund Balance as Percentage of Budgeted Expenditures	S -7
Changes in Fund Balances of Governmental Funds	S -8
General Fund Revenues and Other Financing Sources by Source	S -9
General Fund Revenues and Other Financing Sources by Account	S-10 toS-11
General Fund Expenditures and Other Financing Uses by Function	S -12
General Fund Expenditures and Other Financing Uses by Sub-Function	S -13
Schedule of Cost Per Student Based on Total Primary Government Expense	S -14
Schedule of General Fund Expenditures Per Student Based on Governmental Fund Expenditures	S -15
Cash Flow Analysis	S -16
REVENUE CAPACITY
Property Tax Levy and Collections	S -17
Occupation, Per Capita, Earned Income and Property Tax Collections	S -18
Assessed Value and Estimated Actual Value of Taxable Property	S -19
Taxable Assessed and Estimated Actual Property Values	S -20
Property Tax Rates -Direct and Overlapping Governments	S -21
Lancaster County School Districts Schedule of Millage Rates	S -22
Principal Taxpayers	S -23
County of Lancaster Earned Income Tax Statistics	S -24
DEBT CAPACITY
Schedule of Direct and Overlapping Debt	S -25
Computation of Non electoral Debt Margin	S -26
Legal Debt Margin Information	S -27
Ratio of Annual Debt Service for General Obligation Bonded Debt to
Total General Fund Expenditures and Other Financing Uses	S -28
Ratio of Annual Debt Service for General Obligation Bonded Debt to
Total General Fund Revenues and Other Financing Sources	S -29
Ratio of General Obligation Bonded Debt to Taxable Assessed Value, Bonded Debt Per Student
General Obligation Bonded Debt Per Capita, and General Obligation	S -30
Gross Debt Service Schedule	S -31
Demographic and Economic Information
Enrollment History and Projections by Instructional Level	S - 32
Demographic Characteristics by Township	S -33 to S -34
Lancaster County Demographic and Economic Statistics	S- 35
Lancaster County Principal Employers	S -36
PSERS Retirement Rates	S -37
Operating Information
Full-Time Equivalent Employees by Function	S - 38
District Building Information	S -39
Capital Assets Statistics by Function/Program	S -40
Schedule of Insurance Policies	S -41 to S-42
Glossary of Terms	S -44 to S -49
SINGLE AUDIT SECTION
Schedule of Expenditures of Federal Awards	SA -2 to SA -4
Notes to Schedule of Expenditures of Federal Awards	SA -5
Report on Internal Control Over Financial Repotting and on Compliance and
Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards	SA -6 to SA -7
Report on Compliance with Requirements Applicable to each Circular A-133
Major Program and on Internal Control Over Compliance in Accordance with OMB	SA -8 to SA -9
Schedule of Findings and Questioned Costs	SA -10 to SA -11
Summary Schedule of Prior Audit Findings	SA -12
Corrective Action Plan	SA -13 to SA -14