MASTERY CHARTER SCHOOL CLYMER ELEMENTARY
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYFINANCIAL STATEMENTS ANDSUPPLEMENTARY INFORMATIONYEAR ENDED JUNE 30, 2017(WITH COMPARATIVE TOTALS FOR JUNE 30, 2016)CliftonLarsonAllen LLP
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYTABLE OF CONTENTSYEAR ENDED JUNE 30, 2017INDEPENDENT AUDITORS’ REPORT1REQUIRED SUPPLEMENTARY INFORMATIONMANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED)4BASIC FINANCIAL STATEMENTSSTATEMENT OF NET POSITION8STATEMENT OF ACTIVITIES9BALANCE SHEET — GOVERNMENTAL FUNDS10RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTALFUNDS TO THE STATEMENT OF NET POSITION11STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUNDBALANCE — GOVERNMENTAL FUNDS12RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES,AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TOTHE STATEMENT OF ACTIVITIES13NOTES TO FINANCIAL STATEMENTS14REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUNDBALANCE — BUDGET AND ACTUAL — GENERAL FUND (UNAUDITED)32SCHEDULES OF PROPORTIONATE SHARE OF PSERS NET PENSIONLIABILITY AND CONTRIBUTIONS (UNAUDITED)33INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVERFINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERSBASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED INACCORDANCE WITH GOVERNMENT AUDITING STANDARDS34
CliftonLarsonAllen LLPCLAconnect.comINDEPENDENT AUDITORS’ REPORTBoard of TrusteesMastery Charter School — Clymer ElementaryPhiladelphia, PennsylvaniaReport on the Financial StatementsWe have audited the accompanying financial statements of the governmental activities and the generalfund of Mastery Charter School — Clymer Elementary, as of and for the year ended June 30, 2017, therelated notes to the financial statements, which collectively comprise the entity’s basic financialstatements as listed in the table of contents.Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements inaccordance with accounting principles generally accepted in the United States of America; this includesthe design, implementation, and maintenance of internal control relevant to the preparation and fairpresentation of financial statements that are free from material misstatement, whether due to fraud orerror.Auditors’ ResponsibilityOur responsibility is to express opinions on these financial statements based on our audit. Weconducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica 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 andperform the audit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.An audit involves performing procedures to obtain audit evidence about the amounts and disclosures inthe financial statements. The procedures selected depend on the auditors’ judgment, including theassessment of the risks of material misstatement of the financial statements, whether due to fraud orerror. In making those risk assessments, the auditor considers internal control relevant to the entity’spreparation and fair presentation of the financial statements in order to design audit procedures that areappropriate in the circumstances, but not for the purpose of expressing an opinion on the effectivenessof the entity’s internal control. Accordingly, we express no such opinion. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of significantaccounting estimates made by management, as well as evaluating the overall presentation of thefinancial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinions.(1)
Board of TrusteesMastery Charter School — Clymer ElementaryOpinionsIn our opinion, the financial statements referred to above present fairly, in all material respects, therespective financial position of the governmental activities and general fund of Mastery CharterSchool — Clymer Elementary as of June 30, 2017, and the respective changes in financial position forthe year then ended in accordance with accounting principles generally accepted in the United Statesof America.Other MattersRequired Supplementary InformationAccounting principles generally accepted in the United States of America require that themanagement’s discussion and analysis and the schedule of revenues, expenditures, and changes infund balance — budget and actual and the schedules of proportionate share of PSERS net pensionliability and contributions on pages 4 through 7 and pages 32 and 33 be presented to supplement thebasic financial statements. Such information, although not a part of the basic financial statements, isrequired by the Governmental Accounting Standards Board who considers it to be an essential part offinancial reporting for placing the basic financial statements in an appropriate operational, economic, orhistorical context. We have applied certain limited procedures to the required supplementaryinformation in accordance with auditing standards generally accepted in the United States of America,which consisted of inquiries of management about the methods of preparing the information andcomparing the information for consistency with management’s responses to our inquiries, the basicfinancial statements, and other knowledge we obtained during our audit of the basic financialstatements. We do not express an opinion or provide any assurance on the information because thelimited procedures do not provide us with sufficient evidence to express an opinion or provide anyassurance.Report on Summarized Comparative InformationWe have previously audited Mastery Charter School — Clymer Elementary’s 2016 financial statements,and we expressed an unmodified audit opinion on those audited financial statements of thegovernmental activities and general fund in our report dated November 17, 2016. In our opinion, thesummarized comparative information presented herein as of and for the year ended June 30, 2016, isconsistent, in all material respects, with the audited financial statements from which it has been derived.(2)
Board of TrusteesMastery Charter School — Clymer ElementaryOther Reporting Required by Government Auditing StandardsIn accordance with Government Auditing Standards, we have also issued our report datedNovember 10, 2017 on our consideration of Mastery Charter School — Clymer Elementary’s internalcontrol over financial reporting and on our tests of its compliance with certain provisions of laws,regulations, contracts, and grant agreements and other matters. The purpose of that report is solely todescribe the scope of our testing of internal control over financial reporting and compliance and theresult of that testing, and not to provide an opinion on the effectiveness of Mastery Charter School —Clymer Elementary’s internal control over financial reporting or on compliance. That report is an integralpart of an audit performed in accordance with Government Auditing Standards in considering MasteryCharter School — Clymer Elementary’s internal control over financial reporting and compliance.CliftonLarsonAllen LLPPlymouth Meeting, PennsylvaniaNovember 10, 2017(3)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYMANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED)JUNE 30, 2017The management of Mastery Charter School — Clymer Elementary (the School) offers readers of theSchool’s financial statements this narrative overview and analysis of the financial activities of theSchool for the fiscal year ended June 30, 2017. We encourage readers to consider the informationpresented here in conjunction with the School’s financial statements.Financial Highlights Total revenues increased by 570,349 to 7,765,613 primarily due to an increase in the studentsubsidies and other local sources for the year ended June 30, 2017. At the close of the current fiscal year, the School reports ending net position of ( 5,413,068).This net position balance represents an increase in net position of 1,239,455 for the yearended June 30, 2017. At the close of the current fiscal year, the School reports an ending general fund balance of 1,341,369. The general fund balance represents an increase in fund balance of 650,826 forthe year ended June 30, 2017. The School’s cash balance at June 30, 2017 was 2,314,339, an increase of 731,958 from theprior year.Overview of the Financial StatementsThe discussion and analysis is intended to serve as an introduction to the School’s basic financialstatements. The School’s basic financial statements as presented comprise four components:Management’s Discussion and Analysis (this section), the basic financial statements, requiredsupplementary schedule, and reporting requirements under Government Auditing Standards.Government-Wide Financial StatementsThe government-wide financial statements are designed to provide readers with a broad overview ofthe School’s finances, in a manner similar to a private-sector business.The statement of net position presents information on all of the School’s assets, deferred outflows,liabilities and deferred inflows, with the difference between the two reported as net position. Over time,increases or decreases in net position may serve as a useful indicator of whether the financial positionof the School is improving or deteriorating.The statement of activities presents information showing how the School’s net position changed duringthe most recent fiscal year. All changes in net position are reported as soon as the underlying eventgiving rise to the change occurs, regardless of the timing of related cash flows.The government-wide financial statements report on the function of the School that is principallysupported by subsidies from school districts whose constituents attend the School.(4)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYMANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED)JUNE 30, 2017Overview of the Financial StatementsFund Financial StatementsA fund is a group of related accounts that are used to maintain control over resources that have beensegregated for specific activities or purposes. The School, like governmental type entities, utilizes fundaccounting to ensure and demonstrate compliance with finance-related legal requirements. The Schoolhas only one fund type, the governmental general fund.Notes to the Financial StatementsThe notes provide additional information that is essential to a full understanding of the data provided inthe government-wide and fund financial statements.Government-Wide Financial AnalysisNet position may serve over time as a useful indicator of a government’s financial position. In the caseof the School, liabilities and deferred inflows exceeded assets and deferred outflows by 5,413,068 asof June 30, 2017.Current and Other AssetsCapital AssetsTotal Assets Deferred Outflows20172,437,672230,7772,668,449 20161,928,212345,4812,273,693828,763340,000Current LiabilitiesNoncurrent LiabilitiesTotal 28,7717,394,551Deferred 068)253,599(6,906,122)(6,652,523)Net Investment in Capital AssetsUnrestrictedTotal Net Position (5)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYMANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED)JUNE 30, 2017Government-Wide Financial Analysis (Continued)The School’s revenues are predominately from the School District of Philadelphia, based on the studentenrollment and awards from federal and state sources.2017REVENUESLocal Educational AgenciesState SourcesFederal SourcesOther Grants and ContributionsOther Local SourcesTotal Revenues TURESInstructionSpecial EducationStudent Support ServicesAdministration SupportPupil HealthBusiness ServicesOperations and MaintenanceOther Support ServicesFood ServicesStudent ActivitiesTransportation ExpenseInterest ExpenseDepreciation ExpenseTotal hange in Net Position1,239,455Net Position - Beginning(6,652,523)Net Position - Ending (6)(5,413,068)2016 455,223) (6,652,523)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYMANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED)JUNE 30, 2017Government FundThe focus of the School’s governmental fund is to provide information on near-term inflows, outflows,and balances of spendable resources. Such information is useful in assessing the School’s financingrequirements. In particular, fund balance may serve as a useful measure of a government’s netresources available for spending for program purposes at the end of the fiscal year.The School’s governmental fund, (the General Fund), reported an ending fund balance of 1,341,369.For the year ended June 30, 2017, the School’s revenues ( 7,765,613) exceeded expenditures( 7,114,787) by 650,826.General Fund Budgetary HighlightsActual revenues were greater than budgeted revenue by 335,489 due to higher than budgeted otherlocal sources. Actual expenditures were less than budgeted expenditures by 398,426 due to less thanbudgeted instruction and support service expenditures.Capital AssetAs of June 30, 2017, the School’s investment in capital assets for its governmental activities totaled 168,383 (net of accumulated depreciation and related debt). This investment in capital assets includesleasehold improvements, furniture and fixtures and equipment.Major capital asset purchases during the year included the following: Capital expenditures of 47,076 for equipmentCapital expenditures of 14,958 for furniture and fixturesCapital expenditures of 11,500 for leasehold improvementsAdditional information on the School’s capital assets can be found in Note 3 of this report.Long-Term DebtAs of June 30, 2017, the School has long‐term debt of 62,394 for capital lease obligations.Economic Factors and Next Year’s Budgets and RatesThe School’s primary source of revenue, per pupil funding from School District of Philadelphia, isexpected to increase 2.3% from 8,139 to 8,327 per regular education student and increase from 24,574 to 26,197 per special education student.Contacting the School’s Financial ManagementThe financial report is designed to provide interested parties a general overview of the School’sfinances. Questions regarding any of the information provided in this report should be addressed to theChief Financial Officer, Mastery Charter School — Pickett Campus, 5700 Wayne Avenue, Philadelphia,PA 19144.(7)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYSTATEMENT OF NET POSITIONJUNE 30, 2017(WITH COMPARATIVE TOTALS AT JUNE 30, 2016)Governmental Activities20172016ASSETSCURRENT ASSETSCash and Cash EquivalentsFederal Subsidies ReceivableOther ReceivablesPrepaid ExpensesDue from Other Governmental EntitiesTotal Current Assets 2,314,3391,82281,37732,8527,2822,437,672 45,4812,668,4492,273,693828,763340,000CURRENT LIABILITIESCapital Lease Obligation - Current MaturitiesAccounts PayableAccrued ExpensesTotal Current 524845,1451,265,780LONG-TERM LIABILITIESCapital Lease Obligation - Net of Current PortionNet Pension LiabilityTotal Long-Term 83(5,581,451)253,599(6,906,122)CAPITAL ASSETS, NETTotal AssetsDEFERRED OUTFLOWSDeferred Outflows from Pensions - See Note 8LIABILITIESTotal LiabilitiesDEFERRED INFLOWSDeferred Inflows from Pensions - See Note 8NET POSITIONNet Investment in Capital AssetsUnrestrictedTotal Net Position See accompanying Notes to Financial Statements.(8)(5,413,068) (6,652,523)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYSTATEMENT OF ACTIVITIESYEAR ENDED JUNE 30, 2017(WITH COMPARATIVE TOTALS FOR THE YEAR ENDED JUNE 30, 2016)FunctionsGovernmental Activities:InstructionSpecial EducationStudent Support ServicesAdministration SupportPupil HealthBusiness ServicesOperations and MaintenanceOther Support ServicesFood ServicesStudent ActivitiesTransportation ExpenseInterest ExpenseDepreciation ExpenseTotalProgramRevenuesOperatingGrants andContributionsExpenses 452,84136,1457473,760188,238 434,805106,581- 6,526,158 541,3862017Net (Expense)Revenue andChanges inNet PositionTotalGovernmentalActivities2016Net (Expense)Revenue andChanges inNet PositionTotalGovernmentalActivities 136)(285,832)(5,984,772)(6,557,265)General Revenues:Local Educational AgenciesState Grants andReimbursementsOther Grants and ContributionsOther Local SourcesTotal General 22755,9602,345320,5006,359,965Change in Net Position1,239,455Net Position - Beginning(6,652,523)Net Position - End of YearSee accompanying Notes to Financial Statements.(9) (5,413,068)(197,300)(6,455,223) (6,652,523)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYBALANCE SHEET — GOVERNMENTAL FUNDSJUNE 30, 2017(WITH COMPARATIVE TOTALS AT JUNE 30, 2016)2017GeneralFund2016GeneralFundASSETSCash and Cash EquivalentsFederal Subsidies ReceivableOther ReceivablesPrepaid ExpensesDue from Other Governmental EntitiesTotal Assets 2,314,3391,82281,37732,8527,282 1,582,381215,96754,66773,7151,482 2,437,672 1,928,212 422,396673,9071,096,303 392,524845,1451,237,669LIABILITIES AND FUND BALANCELIABILITIESAccounts PayableAccrued ExpensesTotal LiabilitiesFUND BALANCENonspendable:Prepaid ExpensesCommitted to:Future Budget DeficitsFacilities ReservesUnassignedTotal Fund BalanceTotal Liabilities and Fund Balance See accompanying Notes to Financial ,341,369600,00016,828690,5432,437,672 1,928,212
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYRECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDSTO THE STATEMENT OF NET POSITIONJUNE 30, 2017 Total Fund Balance for Governmental Funds1,341,369Total net position reported for governmental activities in the statementof net position is different because:Capital assets used in governmental funds are not financial resources and,therefore, are not reported in the funds. Those assets consist of:Capital Assets, Net230,777Capital lease obligations used in governmental funds are not financial resources and,therefore, are not reported in the fund liabilities. The total capital lease obligations,both current and long-term, are reported in the statement of net assets.Balances at year-end are:(62,394)Net pension liability is not due in payable in the current period and, therefore,is not reported in the funds:Pension Liability(5,199,212)Deferred outflows is recorded as expenditure in the fund statements, butrecorded as a deferred outflow and amortized in the statement of net position.Deferred Outflow828,763Deferred inflows is recorded as the net difference between projectedand actual investment earnings and the changes in the proportions.Deferred Inflow(2,552,371) Total Net Position of Governmental ActivitiesSee accompanying Notes to Financial Statements.(11)(5,413,068)
MASTERY CHARTER SCHOOL — CLYMER ELEMENTARYSTATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE —GOVERNMENTAL FUNDSYEAR ENDED JUNE 30, 2017(WITH COMPARATIVE TOTALS FOR THE YEAR ENDED JUNE 30, 2016)2017GeneralFundREVENUESLocal Educational AgenciesState SourcesFederal SourcesGrants and ContributionsOther Local SourcesTotal Revenues EXPENDITURESInstructionSupport ServicesNoninstru
Jun 30, 2017 · Clymer Elementary’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Mastery Charter
SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY SCRIPTURE MASTERY Matthew 5:14–16 Let your light so shine. Context In the Sermon on the Mount, Jesus Christ taught His disciples about ho
Clymer Borough Member of Council 4 Year Term 3 6 Stephanie A. Brilhart Clymer Borough Member of Council 4 Year Term 3 7 Louis Tate Clymer Borough Member of Council 4 Year Term 3 15 John A. Hughmanic Clymer Borough Member of Council 2 Year Term 1 Kirby Griffin Clymer Borough Tax Collector 4 Year Term 1
Chapter 4: Implied Main Ideas Exercise 1 Exercise 2 Mastery Test 1 Mastery Test 2 Mastery Test 3 Alternate Mastery Test 1 . Mastery Test 2 Mastery Test 3 Week 6: College Reading Chapter 7: Inferences Exercise 1 Exercise 2 Mastery Test 1 Mastery Test 2 Mastery Test 3
OPSB Charter Lake Forest Elementary Charter School 478 A OPSB Charter Lusher Charter School 1709 A OPSB Charter New Orleans Charter Science and Mathematics HS 370 B OPSB Charter Robert Russa Moton Charter School 268 B-OPSB Charter Warren Easton Senior High School 881 A OPSB Charter (ACSA) Alice Harte E
KIPP NYC Washington Heights Academy Charter School KIPP STAR College Preparatory Charter School La Cima Charter School Launch Expeditionary Learning Charter School Lois and Richard Nicotra Early College Charter School Math, Engineering, and Science Academy Charter High School Mott Hall Charter School Neighborhood Charter School of Harlem (The)
2018-2019 School Progress Report Mastery Charter School at Clymer out of out of Achievement METRIC METRIC SCORE PSSA: English Language Arts % Advanced % Proficient or Advanced ACCESS for ELLs: % 4.5 or Above Grade 5 - % Proficient or Advanced POINTS EARNED TIER INSUFFICIENT SAMPLE 25% 0.5
NEW HEIGHTS ACADEMY CHARTER SCHOOL 18% EQUITY PROJECT CHARTER S CHOOL (THE) 0% INWOOD ACADEMY FOR LEADERSHIP CHARTER SCHOOL 1% GLOBAL COMMUNITY CHARTER SCHOOL 0% KIPP NYC WASHINGTON HEIGHTS ACADEMY CHARTER SCHOOL 0% Charter Average 4% District 6 Average 1% District 7 Suspensions, Charter vs. District CHARTER
A First Course in Complex Analysis was written for a one-semester undergradu-ate course developed at Binghamton University (SUNY) and San Francisco State University, and has been adopted at several other institutions. For many of our students, Complex Analysis is their first rigorous analysis (if not mathematics) class they take, and this book reflects this very much. We tried to rely on as .
