EXPENSE REIMBURSEMENT POLICY
Travel expenses incurred for official business travel on behalf of the Board of Directors shall be limited to those expenses reasonably and necessarily incurred by the employee in the performance of a public purpose authorized, in advance, in accordance with administrative guidelines.
Payment and reimbursement rates for per diem meals, lodging, and mileage shall be approved by the Board annually. The Board shall utilize the Federal IRS prescribed mileage rate.
Employees are expected to exercise the same care incurring travel expenses that a prudent person would exercise if traveling on personal business and expending personal funds. Unauthorized costs and additional expenses incurred for personal preference or convenience will not be reimbursed.
Unauthorized expenses include but are not limited to alcohol, movies, fines for traffic violations, and the entertainment/meals/lodging of spouses or guests.
Travel payment and reimbursement provided from Federal funds must be authorized in advance by the Federal awarding agency or pass-through entity and must be reasonable and consistent with the Academy’s travel policy and administrative guidelines.
PROCUREMENT POLICY
Procurement of all supplies, materials, equipment, and services paid for from Academy funds shall be made in accordance with all applicable Federal and State statutes, Board policies, and administrative procedures.
All procurement transactions shall be conducted in a manner that encourages full and open competition and in accordance with good administrative practice and sound business judgment.
Each year the State of Michigan informs the School of the legal amount for purchases which require a formal bidding process of a single item.
Purchases in a single transaction that are in excess of the dollar amount permitted by State statute shall require competitive bids and, whenever possible, have at least three (3) such bids for substantiation of purchase and shall require approval of the Board prior to purchase.
Competitive Bids
Competitive bids are not required for items purchased through the cooperative bulk purchasing program operated by the Michigan Department of Management and Budget pursuant to M.C.L.A. 18.1263.
Competitive bids are not required for food purchases, unless food purchased in a single transaction costs $100,000 or more.
Bids shall be sealed and shall be opened in the presence of at least one (1) witness. Orders or contracts should be awarded to the lowest responsible bidder; however, consideration can be given to:
the quality of the item(s) to be supplied; its conformity with specifications; suitability to the requirements of the Academy; delivery terms; past performance of vendor; In addition to the factors above, the Board may consider and provide a preference to bidders; which use a Michigan-based business as the primary contractor; which use one (1) or more Michigan-based business as subcontractors.
For purposes of this preference a Michigan-based business means a business that would qualify for a Michigan preference for procurement contracts under M.C.L.A. 18.1268, which requires that the businesses certify that since inception or during the last twelve (12) months it has done one of the following:
A. have filed a Michigan business tax return showing an allocation of income tax base to Michigan
B. have filed a Michigan income tax return showing income generated in or
attributed to Michigan
C. withheld Michigan income tax from compensation paid to the bidder's owners and remitted the tax to the Michigan Department of Treasury
The Board reserves the right to reject any and all bids.
Bid Protest
A bidder who wishes to file a bid protest must file such notice and follow procedures prescribed by the Request For Proposals (RFP) or the individual bid specifications package, for resolution. Bid protests must be filed in writing with the Educational Service Provider within seventy-two (72) hours of the opening of the bids in protest.
Within five (5) days of receipt of a protest, the Educational Service Provider shall review the protest as submitted and render a decision regarding the merits of the protest and any impact on the acceptance and rejection of bids submitted. Notice of the filing of a bid protest shall be communicated to the Board and shall be so noted in any subsequent recommendation for the acceptance of bids and awarding of contracts.
Failure to file a notice of intent to protest, or failure to file a formal written protest within the time prescribed, shall constitute a waiver of proceedings.
General Provisions
The Educational Service Provider is authorized to purchase all items within budget allocations.
The Educational Service Provider is authorized to make emergency purchases, without prior approval, of those goods and/or services needed to keep the school in operation. Such purchases shall be brought to the Board’s attention at the next regular meeting.
In order to promote efficiency and economy in the operation of the school, the Board requires that the Educational Service Provider periodically estimate requirements for standard items or classes of items and make quantity purchases on a bid basis to procure the lowest cost consistent with good quality.
Whenever storage facilities or other conditions make it impractical to receive total delivery at any one time, the total quantity to be shipped but with staggered delivery dates, shall be made a part of the bid specifications.
Before placing a purchase order, the Educational Service Provider shall check as to whether the proposed purchase is subject to bid, whether sufficient funds exist in the budget, and whether the material might be available elsewhere in the school. All purchase orders shall be numbered consecutively.
The Board may acquire office equipment as defined in law by lease, by installment payments, by entering into lease-purchase agreements, or by lease with an option to purchase, provided the contract sets forth the terms of such a purchase.
School: New Standard Academy Calendar Year 2015
Position: Lead Administrator
Insurance
Medical/Vision: $11,217.00
Dental: $783.00
Life: $74.88
Teledoc
Short Term Disability: $240.84
Cash in Lieu: $83.76
Mandatory Benefits
Employer Paid Social Security: $3,383.63
Employer Paid Medicare: $897.32
FUTA - Federal Unemployment
Inusrance: $32.57
SUTA - State Unemployment Insurance: $629.18
Fed Pay back
Workers Compensation: $187.40
Total Compensation Including Benefits: $92,927.69
October 20, 2015
To the School Board and Management of The New Standard Academy We have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of The New Standard Academy for the year ended June 30, 2015. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards, Government Auditing Standards and OMB Circular AͲ133, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you. Professional standards also require that we communicate to you the following information related to our audit. Significant Audit Findings Qualitative Aspects of Accounting Practices Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by The New Standard Academy are described in Note 1 to the financial statements. No new accounting policies were adopted and the application of existing policies was not changed during the year ended June 30, 2015. We noted no transactions entered into by The New Standard Academy during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period. Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimate affecting the financial statements was:
The New Standard Academy October 20, 2015 Flint, Michigan Page 2 Management’s estimate of depreciation is based on management’s best judgment of the useful lives of the assets. We evaluated the key factors and assumptions used to develop the depreciable lives in determining that it is reasonable in relation to the financial statements taken as a whole. The financial statement disclosures are neutral, consistent, and clear. Difficulties Encountered in Performing the Audit We encountered no significant difficulties in dealing with management in performing and completing our audit. Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. Management has corrected all such misstatements. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statements taken as a whole. Disagreements with Management For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit. Management Representations We have requested certain representations from management that are included in the management representation letter dated October 20, 2015. Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the Academy’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.
The New Standard Academy October 20, 2015 Flint, Michigan Page 3 Other Audit Findings or Issues We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the Academy’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention. Other Matters We applied certain limited procedures to the Budgetary Comparison Schedule and the Schedule of Expenditures of Federal Awards, which are required supplementary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI. We were engaged to report on the Schedules of Revenues and Expenditures, which accompany the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management and evaluated the form, content and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves. Restriction of Use This information is intended solely for the use of the Board of Directors, and management of The New Standard Academy and is not intended to be, and should not be, used by anyone other than these specified parties. Very truly yours, Croskey Lanni, PC
October 20,2015 TheNewStandardAcademy 2040W.CarpenterRoad Flint, MI 48505
To Whom It May Concern: Please be advised that there was not a separate management comment letter that was provided in connection with the audit of the financial statements for the year ended June 30,2015.
Very truly yours,
Croskey Lanni, PC
Patrick M.Sweeney,C.P.A.
TheNewStandardAcademy Flint,Michigan AuditedFinancialStatements June30,2015
CONTENTS Page
IndependentAuditor’sReport iͲiii Management’sDiscussionandAnalysis ivͲix BasicFinancialStatements StatementofNetPosition 1 StatementofActivities 2 CombinedBalanceSheet–AllGovernmentalFunds 3 ReconciliationofTotalGovernmentalFundBalance toNetPositionofGovernmentalActivities 4 StatementofRevenues,ExpendituresandChangesin FundBalance–AllGovernmentalFunds 5 ReconciliationoftheStatementofRevenues,Expenditures andChangesinFundBalanceofGovernmentalFundsto theStatementofActivities 6 NotestoFinancialStatements 7Ͳ17 SupplementalInformation BudgetaryComparisonSchedule–GeneralFund 18 ScheduleofRevenues–GeneralFund 19 ScheduleofExpenditures–GeneralFund 20Ͳ21
CONTENTS–Continued
Page
AppendixͲFederalAwardsSupplementalInformation IndependentAuditor’sReportonInternalControlOverFinancialReporting andonComplianceandOtherMattersBasedonanAuditofFinancial StatementsPerformedinAccordancewithGovernmentAuditingStandards AͲ1–AͲ2 IndependentAuditor’sReportonComplianceforEachMajorProgram andonInternalControlOverComplianceRequiredbyOMBCircularAͲ133 AͲ3–AͲ4 ScheduleofExpendituresofFederalAwards AͲ5–AͲ6 ReconciliationofBasicFinancialStatementsFederalRevenueand ReceivableswithScheduleofExpendituresofFederalAwards AͲ7 NotestoScheduleofExpendituresofFederalAwards AͲ8 ScheduleofFindingsandQuestionedCosts AͲ9
345 Diversion Street Ɣ Suite 400 44725 Grand River Avenue Ɣ Suite 204 2505 NW Boca Raton Blvd. Ɣ Suite 202 Rochester, MI 48307 Novi, Michigan 48375 Boca Raton, Florida 33431-6652 Phone: 248.659.5300 Phone: 248.659.5300 Phone: 561.241.1040 Fax: 248.659.5305 Fax: 248.659.5305 Fax: 561.368.4641 www.croskeylanni.com
David M. Croskey, CPA Thomas B. Lanni, CPA Carolyn A. Jones, CPA, CFP® MST Clifton F. Powell Jr., CPA, CFP®, PFS Roger J. DeJong, CPA Patrick M. Sweeney, CPA Leonard A. Geronemus, CPA, PFS
INDEPENDENTAUDITOR’SREPORT
TotheBoardofDirectors ofTheNewStandardAcademy Wehaveauditedtheaccompanyingfinancialstatementsofthegovernmentalactivities,eachmajorfundandthe aggregateremainingfundinformationofTheNewStandardAcademy,asofandfortheyearendedJune30,2015,and therelatednotestothefinancialstatements,whichcollectivelycompriseTheNewStandardAcademy’sbasicfinancial statementsaslistedinthetableofcontents. Management’sResponsibilityfortheFinancialStatements Managementisresponsibleforthepreparationandfairpresentationofthesefinancialstatementsinaccordancewith accountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;thisincludesthedesign,implementation,and maintenanceofinternalcontrolrelevanttothepreparationandfairpresentationoffinancialstatementsthatarefree frommaterialmisstatement,whetherduetofraudorerror. Auditor’sResponsibility Ourresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudit.Weconductedourauditin accordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthestandardsapplicableto financialauditscontainedinGovernmentAuditingStandards,issuedbytheComptrollerGeneraloftheUnitedStates. Thosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancial statementsarefreefrommaterialmisstatement. Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthefinancial statements.Theproceduresselecteddependontheauditor’sjudgment,includingtheassessmentoftherisksof materialmisstatementofthefinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,the auditorconsidersinternalcontrolrelevanttotheentity’spreparationandfairpresentationofthefinancialstatementsin ordertodesignauditproceduresthataretheappropriateinthecircumstances,butnotforthepurposeofexpressingan opinionontheeffectivenessoftheentity’sinternalcontrol.Accordingly,weexpressnosuchopinion.Anauditalso includesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonablenessofsignificantaccounting estimatesmadebymanagement,aswellasevaluatingtheoverallpresentationofthefinancialstatements. Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouraudit opinion.
Opinions Inouropinion,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,therespectivefinancial positionofgovernmentalactivities,eachmajorfund,andtheaggregateremainingfundinformationofTheNew StandardAcademy,asofJune30,2015,andtherespectivechangesinfinancialpositioncashflowsthereoffortheyear thenendedinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica. OtherMatters RequiredSupplementaryInformation AccountingprinciplesgenerallyacceptedintheUnitedStatesofAmericarequirethatthemanagement’sdiscussionand analysisandbudgetarycomparisoninformationonpagesivͲixand18bepresentedtosupplementthebasicfinancial statements.Suchinformation,althoughnotapartofthebasicfinancialstatements,isrequiredbytheGovernmental AccountingStandardsBoard,whoconsidersittobeanessentialpartoffinancialreportingforplacingthebasicfinancial statementsinanappropriateoperational,economic,orhistoricalcontext.Wehaveappliedcertainlimitedprocedures totherequiredsupplementaryinformationinaccordancewithauditingstandardsgenerallyacceptedintheUnited StatesofAmerica,whichconsistedofinquiriesofmanagementaboutthemethodsofpreparingtheinformationand comparing the information for consistency with management’s responses to our inquiries, the basic financial statements,andotherknowledgeweobtainedduringourauditofthebasicfinancialstatements.Wedonotexpressan opinionorprovideanyassuranceontheinformationbecausethelimitedproceduresdonotprovideuswithsufficient evidencetoexpressanopinionorprovideanyassurance. OtherInformation OurauditwasconductedforthepurposeofformingopinionsonthefinancialstatementsthatcollectivelycompriseThe NewStandardAcademy’sbasicfinancialstatements.Theintroductorysection,combiningandindividualnonͲmajor fundfinancialstatements,statisticalsection,andschedulesofrevenuesandexpendituresarepresentedforpurposesof additionalanalysisandarenotarequiredpartofthebasicfinancialstatements.Thescheduleofexpendituresoffederal awardsispresentedforpurposesofadditionalanalysisasrequiredbyU.S.OfficeofManagementandBudgetCircularAͲ 133,AuditsofStates,LocalGovernments,andNonͲProfitOrganizations,andisalsonotarequiredpartofthebasic financialstatements. ThecombiningandindividualnonͲmajorfundfinancialstatements,thescheduleofexpendituresoffederalawards,and schedulesofrevenuesandexpendituresaretheresponsibilityofmanagementandwerederivedfromandrelatedirectly totheunderlyingaccountingandotherrecordsusedtopreparethebasicfinancialstatements.Suchinformationhas beensubjectedtotheauditingproceduresappliedintheauditofthebasicfinancialstatementsandcertainadditional procedures,includingcomparingandreconcilingsuchinformationdirectlytotheunderlyingaccountingandother recordsusedtopreparethebasicfinancialstatementsortothebasicfinancialstatementsthemselves,andother additionalproceduresinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica.Inour opinion,thecombiningandindividualnonͲmajorfundfinancialstatements,thescheduleofexpendituresoffederal awards,andschedulesofrevenuesandexpendituresarefairlystated,inallmaterialrespects,inrelationtothebasic financialstatementsasawhole. Theintroductoryandstatisticalsectionshavenotbeensubjectedtotheauditingproceduresappliedintheauditofthe basicfinancialstatementsand,accordingly,wedonotexpressanopinionorprovideanyassuranceonthem. ii
OtherReportingRequiredbyGovernmentAuditingStandards InaccordancewithGovernmentAuditingStandards,wehavealsoissuedourreportdatedOctober20,2015onour consideration of The New Standard Academy’s internal control over financial reporting and on our tests of its compliancewithcertainprovisionsoflaws,regulations,contracts,andgrantagreementsandothermatters.The purposeofthatreportistodescribethescopeofourtestingofinternalcontroloverfinancialreportingandcompliance andtheresultsofthattesting,andnottoprovideanopiniononinternalcontroloverfinancialreportingoron compliance.ThatreportisanintegralpartofanauditperformedinaccordancewithGovernmentAuditingStandardsin consideringTheNewStandardAcademy’sinternalcontroloverfinancialreportingandcompliance.
CroskeyLanni,PC October20,2015 Rochester,Michigan iii
MANAGEMENT’SDISCUSSIONANDANALYSIS
ThissectionofTheNewStandardAcademy’s,annualfinancialreportpresentsourdiscussionandanalysisoftheschool’s financialperformanceduringthefiscalyearthatendedonJune30,2015.Pleasereaditinconjunctionwiththeschool’s financialstatements,whichimmediatelyfollowthissection. FINANCIALHIGHLIGHTS Thetotalcostofbasicprogramswas$1,767,137. Revenueswereat$5,469,584whileexpenditureswere$5,318,560intheGeneralFund. Blendedenrollmentusedforstateaidpurposeswas611,anincreaseof101. TheschoolhasapositiveGeneralFundbalanceof$178,611. OVERVIEWOFTHEFINANCIALSTATEMENTS Thisannualreportconsistsofthreeparts–management’sdiscussionandanalysis(thissection),thebasicfinancial statementsandrequiredsupplementaryinformation.Thebasicfinancialstatementsincludetwokindsofstatements thatpresentdifferentviewsoftheschool: ThefirsttwostatementsareschoolͲwidefinancialstatementsthatprovidebothshortͲtermandlongͲ terminformationabouttheschool’soverallfinancialstatus. Theremainingstatementsarefundfinancialstatementsthatfocusonindividualpartsoftheschool, reportingtheschoolsoperationsinmoredetail. Thegovernmentalfundstatementstellhowbasicserviceslikeregularandspecialeducationwere financed. Fiduciaryfundsstatementsprovideinformationaboutthefinancialrelationshipsinwhichtheschool actssolelyasatrusteeoragentforthebenefitofothers.Theseconsistofstudentactivityfundsheld bytheschoolonbehalfofthestudentgroup. iv
iii
Summary Detail Thefinancialstatementsalsoincludenotesthatexplainsomeoftheinformationinthestatementsandprovidemore detaileddata.Thestatementsarefollowedbyasectionofrequiredsupplementaryinformationthatfurtherexplains andsupportsthefinancialstatementswithacomparisonoftheschool’sbudgetfortheyear.FigureAͲ1showshowthe variouspartsofthisannualreportarearrangedandrelatedtooneanother. FundFinancialStatements SchoolͲWide Statements GovernmentFunds FiduciaryFunds Scope Entireschool(except fiduciaryfunds) Theactivitiesoftheschoolthatarenot proprietaryorfiduciary,suchasspecial educationandbuildingmaintenance. Instancesinwhichtheschool administersresourcesonbehalf ofsomeoneelse,suchas scholarshipprogramsand studentactivitiesmonies Required financial statements *Statementofnet assets *Statementofactivities *Balancesheet *Statementofrevenues,expenditures andchangesinfundbalances *Statementoffiduciarynet assets *Statementofchangesin fiduciarynetassets Accounting basisand measurement focus Accrualaccountingand economicresources focus Modifiedaccrualaccountingandcurrent financialresources Accrualaccountingand economicresourcesfocus Typeof asset/liability information Allassetsandliabilities bothfinancialand capital,shortͲtermand longͲterm Generallyassetsexpectedtobeusedup andliabilitiesthatcomedueduringthe yearorsoonthereafter,nocapitalassets orlongͲtermliabilitiesincluded Allassetsandliabilities,both shortͲtermandlongͲterm Typeof inflow/outflow information Allrevenuesand expensesduringyear, regardlessofwhencash isreceivedorpaid Revenuesforwhichcashisreceived duringorsoonaftertheendoftheyear, expenditureswhengoodsorservices havebeenreceivedandtherelated liabilityisdueandpayable Alladditionsanddeductions duringtheyear,regardlessof whencashisreceivedorpaid v FigureAͲ1 OrganizationofTheNewStandard’sAnnualFinancial Report Management’s Discussionand Analysis BasicFinancial Statements Required Supplementary Information Notesto Financial Statements SchoolͲWide Financial Statements FundFinancial Statements FigureAͲ2 MajorFeaturesofSchoolͲWideandFundFinancialStatements
FigureAͲ2summarizesthemajorfeaturesoftheschool’sfinancialstatements,includingtheportionoftheschools activities they cover and the types of information they contain.The remainder of this overview section of management’sdiscussionandanalysishighlightsthestructureandcontentsofeachofthestatements. SCHOOLͲWIDESTATEMENTS TheschoolͲwidestatementsreportinformationabouttheschoolasawholeusingaccountingmethodssimilartothose usedbyprivateͲsectorcompanies.Thestatementofnetpositionincludesalloftheschool’sassetsandliabilities.Allof thecurrentyear’srevenuesandexpensesareaccountedforinthestatementofactivitiesregardlessofwhencashis receivedorpaid. ThetwoschoolͲwidestatementsreporttheschool’snetpositionandhowithaschanged.Netposition–thedifference betweentheschool’sassetsandliabilities–areonewaytomeasuretheschool’sfinancialhealthorposition. Overtime,increasesordecreasesintheschool’sassetsareanindicatorofwhetheritsfinancialpositionis improvingordeteriorating,respectively. Toassesstheoverallhealthoftheschool,youneedtoconsideradditionalnonͲfinancialfactorssuchaschanges intheschool’senrollmentandtheconditionofschoolbuildingsandotherfacilities. FUNDFINANCIALSTATEMENTS Thefundfinancialstatementsprovidemoredetailedinformationabouttheschool’sfunds,focusingonit’smost significantor“major”funds–nottheschoolasawhole.Fundsareaccountingdevicestheschoolusestokeeptrackof specificsourcesoffundingandspendingonparticularprograms: Governmentalactivities–Mostoftheschool’sbasicservicesareincludedinthegeneralfund,suchasregular andspecialeducationandadministration.Statefoundationaidfinancesmostoftheseactivities. Theschoolestablishesotherfundstocontrolandmanagemoneyforparticularpurposes(likerepayingitslongͲ termdebts)ortoshowthatitisproperlyusingcertainrevenues. Theschoolhasonekindoffund: Governmentalfunds–Mostoftheschool’sbasicservicesareincludedingovernmentalfunds,whichgenerally focuson(1)howcashandotherfinancialassetsthatcanreadilybeconvertedtocashflowinandoutand(2)the balancesleftatyearͲendthatareavailableforspending.Consequently,thegovernmentalfundsstatements provide a detailed shortͲtermview that helps you determine whether there are more or fewer financial resourcesthatcanbespentinthenearfuturetofinancetheschool’sprograms.Becausethisinformationdoes notencompasstheadditionallongͲtermfocusoftheschoolͲwidestatements,weprovideadditionalinformation withgovernmentalfundsstatementsthatexplainstherelationship(ordifferences)betweenthem. vi
FINANCIALANALYSISOFTHESCHOOLASAWHOLE Theschool’sfinancialpositionistheproductofmanyfactors. GeneralFundBudgetaryAnalysis Overthecourseoftheyear,theschoolreviewedandamendedtheannualoperatingbudgetseveraltimes. FinancialOutlook TheNewStandardAcademy’sfinancialforecastcontinuestobeoptimisticheadingintothe2015/2016schoolyear. Enrollmentcontinuestogrowforthe2015Ͳ2016schoolyearwithanexpectedenrollmentof641upfrom611 forthe2014Ͳ2015schoolyear.
2015 2014
1,785,692$ 1,669,346 $ 296,126 373,777
2,081,818 2,043,123
146,939 249,107 1,538,016 1,641,759
1,684,955 1,890,866
Netinvestmentincapitalassets 149,187 124,670 247,676 27,587 396,863$ 152,257 $
TableAͲ3 TheNewStandardAcademy'sNetPosition
Totalliabilities
Currentandotherassets Capitalassets
Totalassets
Totalnetposition
LongͲtermdebtoutstanding Otherliabilities
Netposition:
Unrestricted
vii
Revenues: 2015 2014
Ͳ$ 138 $ 1,459,390 1,316,834
4,456,484 3,653,096 8,093 11,372
5,923,967 4,981,440
Expenses:
2,358,809 2,080,756 3,175,856 2,671,472 25,416 37,363 119,280 113,444
5,679,361 4,903,035
Increase(decrease)innetposition 244,606 $ 78,405 $
TableAͲ4 ChangesinTheNewStandardAcademy'sNetPosition
Federalandstateoperatinggrants Chargesforservices Programrevenues:
Supportservices InterestonlongͲtermdebt Unallocateddepreciation
Totalexpenses
Generalrevenues: StateaidͲunrestricted Miscellaneous
Totalrevenues
Instruction
CAPITALASSETANDDEBTADMINISTRATION CapitalAssets Bytheendof2015,theschoolhadinvested$619,910incapitalassets,includingcomputersandsoftware.SeetableAͲ5 belowforalistingofcapitalassets,andtheaccumulateddepreciation.
Balance Balance June30,2015 June30,2014 Equipment 132,259 $ 132,259 $ Furniture 193,640 170,476 Technologyequipment 252,557 252,557 Other 41,454 22,989 Subtotal 619,910 578,281 Less:accumulateddepreciation 323,784 204,504 Netbookvalueofassets 296,126 $ 373,777 $
TheNewStandardAcademy'sCapitalAssets TableAͲ5
viii
LongͲTermDebt TheAcademyhad$146,939inlongͲtermdebtasofJune30,2015.AdditionalinformationcanbefoundinNote8ofthe financialstatements. FACTORSBEARINGONTHESCHOOL’SFUTURE x Continuationofpositiveenrollmenttrends x Stateaidfoundationgrantstabilization CONTACTINGTHESCHOOL’SFINANCIALMANAGEMENT Thisfinancialreportisdesignedtoprovideourstudents,parentsandcreditorswithageneraloverviewoftheschool’s financesandtodemonstratetheschool’saccountabilityforthemoneyitreceives.Ifyouhavequestionsaboutthis reportorneedadditionalinformation,contactthemanagementofficeat: TheRomineGroup7877Stead,Utica,MI48317(586)731Ͳ5300 ix
THENEWSTANDARDACADEMY STATEMENTOFNETPOSITION JUNE30,2015 SeeIndependentAuditor’sReport
CurrentAssets
Cashandcashequivalents 295,997 $ Duefromothergovernmentalunits 1,480,743 Prepaidexpenses 8,952
Totalcurrentassets 1,785,692
CapitalAssetsͲNetofAccumulatedDepreciation 296,126
Totalassetsanddeferredoutflows 2,081,818 $
CurrentLiabilities Accountspayable 983,525 $ Notespayable 181,170 Otheraccruedexpenses 373,321 LongͲtermdebtͲcurrentportion 115,696
Totalcurrentliabilities 1,653,712
LongͲTermDebtͲLongͲTermPortion 31,243
NetPosition
Netinvestmentincapitalassets 149,187 Unrestricted 247,676
Totalnetposition 396,863
Totalliabilities,deferredinflowsandnetposition 2,081,818 $
ASSETSANDDEFERREDOUTFLOWS
LIABILITIES,DEFERREDINFLOWSANDNETPOSITION
Seeaccompanyingnotestofinancialstatements
Ͳ1Ͳ
THENEWSTANDARDACADEMY STATEMENTOFACTIVITIES FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
Net(Expense) Revenuesand Changesin ProgramRevenues NetAssets Government Chargesfor Operating Type Expenses Services Grants Activities
Functions Instruction Basicprograms 1,767,137 $ Ͳ $ 455,859 $ (1,311,278) $ Addedneeds 591,672 Ͳ 506,487 (85,185) Supportservices Pupilsupportservices 5,856 Ͳ Ͳ (5,856) Instructionalstaffsupportservices 17,089 Ͳ 10,337 (6,752) Generaladministration 664,812 Ͳ Ͳ (664,812) Schooladministration 390,861 Ͳ Ͳ (390,861) Businesssupportservices 11,725 Ͳ Ͳ (11,725) Operationsandmaintenance 1,364,213 Ͳ 32,324 (1,331,889) Pupiltransportationservices 320,000 Ͳ Ͳ (320,000) Centralsupportservices 6,441 Ͳ Ͳ (6,441) Athleticactivities 9,541 Ͳ Ͳ (9,541) Foodservices 385,318 Ͳ 454,383 69,065 Unallocateddepreciation 119,280 Ͳ Ͳ (119,280) Unallocatedinterest 25,416 Ͳ Ͳ (25,416)
Totalprimarygovernment 5,679,361 $ Ͳ $ 1,459,390 $ (4,219,971)
GeneralPurposeRevenues StateschoolaidͲunrestricted 4,456,484 Miscellaneousrevenues 8,093 Totalgeneralpurposerevenues 4,464,577
Changeinnetposition 244,606
NetpositionͲJuly1,2014 152,257
NetpositionͲJune30,2015 396,863 $
Seeaccompanyingnotestofinancialstatements
Ͳ2Ͳ
THENEWSTANDARDACADEMY COMBINEDBALANCESHEET–ALLGOVERNMENTALFUNDS JUNE30,2015 SeeIndependentAuditor’sReport
NonͲMajor General SpecialRevenue Total
Cashandcashequivalents 295,997 $ Ͳ $ 295,997 $ Duefromothergovernmentalunits 1,480,743 Ͳ 1,480,743 Duefromotherfunds Ͳ 69,065 69,065 Prepaidexpenses 8,952 Ͳ 8,952
Totalassets 1,785,692 $ 69,065 $ 1,854,757 $
Liabilities Accountspayable 983,525 $ Ͳ $ 983,525 $ Notespayable 181,170 Ͳ 181,170 Duetootherfunds 69,065 Ͳ 69,065 Otheraccruedexpenses 373,321 Ͳ 373,321
Totalliabilities 1,607,081 Ͳ 1,607,081
FundBalance Nonspendable 8,952 Ͳ 8,952 Restricted Ͳ 69,065 69,065 Unassigned 169,659 Ͳ 169,659
Totalfundbalance 178,611 69,065 247,676
Totalliabilitiesand fundbalance 1,785,692 $ 69,065 $ 1,854,757 $
ASSETS
LIABILITIESANDFUNDBALANCE
Seeaccompanyingnotestofinancialstatements
Ͳ3Ͳ
THENEWSTANDARDACADEMY RECONCILIATIONOFTOTALGOVERNMENTALFUNDBALANCETONETPOSITION OFGOVERNMENTALACTIVITIES JUNE30,2015 SeeIndependentAuditor’sReport Amountsreportedforgovernmentalactivitiesinthestatementofnetpositionaredifferentbecause:
TotalGovernmentalFundBalances 247,676 $
Capitalassetsusedingovernmentalactivitiesarenotfinancialresourcesand, therefore,arenotreportedinthefunds.Thecostoftheassetsis$619,910 andtheaccumulateddepreciationis$323,784. 296,126
LongͲtermliabilitiesarenotdueandpayableinthecurrentperiodand, therefore,arenotreportedinthefunds. (146,939)
NetPositionofGovernmentalActivities 396,863 $
Seeaccompanyingnotestofinancialstatements
Ͳ4Ͳ
THENEWSTANDARDACADEMY STATEMENTOFREVENUES,EXPENDITURES ANDCHANGESINFUNDBALANCE–ALLGOVERNMENTALFUNDS FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport NonͲMajor Special General Revenue Total
Revenues Localsources 8,093 $ Ͳ $ 8,093 $ Statesources 5,031,626 9,114 5,040,740 Federalsources 397,693 445,269 842,962 Interdistrictsources 32,172 Ͳ 32,172 Ͳ Totalgovernmentalfundrevenues 5,469,584 454,383 5,923,967
Expenditures Instruction Basicprograms 1,767,137 Ͳ 1,767,137 Addedneeds 591,672 Ͳ 591,672 Supportservices Pupilsupportservices 5,856 Ͳ 5,856 Instructionalstaffsupportservices 17,089 Ͳ 17,089 Generaladministration 664,812 Ͳ 664,812 Schooladministration 390,861 Ͳ 390,861 Businesssupportservices 11,725 Ͳ 11,725 Operationsandmaintenance 1,364,213 Ͳ 1,364,213 Pupiltransportationservices 320,000 Ͳ 320,000 Centralsupportservices 6,441 Ͳ 6,441 Athleticactivities 9,541 Ͳ 9,541 Foodservices Ͳ 385,318 385,318 Communityservices Ͳ Ͳ Ͳ Capitaloutlay 41,629 Ͳ 41,629 Debtprincipalandinterest 127,584 Ͳ 127,584
Totalgovernmentalfundexpenditures 5,318,560 385,318 5,703,878
Excess(deficiency)ofrevenuesover expenditures 151,024 69,065 220,089
FundbalanceͲJuly1,2014 27,587 Ͳ 27,587
FundbalanceͲJune30,2015 178,611 $ 69,065 $ 247,676 $
Seeaccompanyingnotestofinancialstatements
Ͳ5Ͳ
THENEWSTANDARDACADEMY RECONCILIATIONOFTHESTATEMENTOFREVENUES,EXPENDITURESANDCHANGESIN FUNDBALANCEOFGOVERNMENTALFUNDSTOTHESTATEMENTOFACTIVITIES FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport Amountsreportedforgovernmentalactivitiesinthestatementofactivitiesaredifferentbecause:
NetChangeinFundBalancesͲTotalGovernmentalFunds 220,089 $
Governmentalfundsreportcapitaloutlaysasexpenditures.However, inthestatementofactivities,assetsarecapitalizedandthecostis allocatedovertheirestimatedusefullivesandreportedasdepreciation andamortizationexpense.Thisistheamountbywhichcapitaloutlays exceededdepreciationandamortizationinthecurrentperiod:
Capitaloutlay 41,629 $ Depreciationandamortizationexpense (119,280) (77,651)
Thegovernmentalfundsreportloanproceedsasanotherfinancing source,whilerepaymentofloanprincipalisreportedasan expenditure.Interestisrecognizedasanexpenditureinthe governmentalfundswhenitisdue.Theneteffectofthesedifferences inthetreatmentofgeneralloanobligationsisasfollows:
Repaymentofloanprincipal 102,168
ChangeinNetPositionofGovernmentalActivities 244,606 $
Seeaccompanyingnotestofinancialstatements
Ͳ6Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTS FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport NOTE1–SUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES TheaccountingpoliciesofTheNewStandardAcademy(the“Academy”)conformtogenerallyacceptedaccounting principlesapplicabletopublicschoolacademies.Thefollowingisasummaryofthesignificantaccountingpolicies: ReportingEntity TheNewStandardAcademywasformedasapublicschoolacademypursuanttotheMichiganSchoolCodeof1976,as amendedbyActNo.362ofthePublicActsof1993andActNo.416ofthePublicActsof1994.TheAcademyfiled articlesofincorporationasanonprofitcorporationpursuanttotheprovisionsoftheMichiganNonprofitCorporation Actof1982,asamended,andbeganoperationinMay2012. InJuly2012,theAcademyenteredintoacontractwiththeSaginawValleyStateUniversityBoardofControltochartera publicschoolacademythroughJune30,2016.ThecontractrequirestheAcademytoactexclusivelyasagovernmental agencyandnotundertakeanyactioninconsistentwithitsstatusasanentityauthorizedtoreceivestateschoolaidfunds pursuanttotheStateconstitution.TheUniversity’sBoardofControlisthefiscalagentfortheAcademyandis responsibleforoverseeingtheAcademy’scompliancewiththecontractandallapplicablelaws.TheAcademypaysthe SaginawValleyStateUniversityBoardofControlthreepercentofstateaidasadministrativefees.Totaladministrative feespaidfortheyearendedJune30,2015wereapproximately$131,680. InJuly2012,theAcademyenteredintoanagreementwithTheRomineGroup,Inc.throughJune30,2016.Underthe terms of this agreement, The Romine Group, Inc. provides a variety of services including financial management, educationalprogramsandconsulting,aswellasteachertraining.TheAcademyisobligatedtopayTheRomineGroup, Inc.tenpercentofitsstateschoolaidrevenueandallothergovernmentalrevenuesources.Totalcompensationinno eventshallbelessthan$250,000andnomorethan$500,000inanyfiscalyear.Thetotalpaidfortheseservices amountedtoapproximately$509,800fortheyearendedJune30,2015. The accompanying financial statements have been prepared in accordance with criteria established by the GovernmentalAccountingStandardsBoardfordeterminingthevariousgovernmentalorganizationstobeincludedin thereportingentity.Thesecriteriaincludesignificantoperationalorfinancialrelationshipswiththepublicschool Academy.Basedonapplicationofcriteria,theAcademydoesnotcontaincomponentunits. FundFinancialStatements FundfinancialstatementsreportdetailedinformationabouttheAcademy.Thefocusofgovernmentalfundfinancial statementsisonmajorfundsratherthanreportingfundsbytype.Eachmajorfundispresentedinaseparatecolumn. NonͲmajorfundsareaggregatedandpresentedinasinglecolumn. Ͳ7Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE1ͲSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESͲContinued BasisofPresentation–FundAccounting TheaccountsoftheAcademyareorganizedonthebasisoffunds.Theoperationsofafundareaccountedforwitha separatesetofselfͲbalancingaccountsthatcompriseitsassets,liabilities,fundbalance,revenueandexpenditures. Governmentresourcesareallocatedtoandaccountedforinindividualfundsbasedonthepurposesforwhichtheyare tobespentandthemeansbywhichspendingactivitiesarecontrolled.Thevariousfundsaregrouped,inthecombined financialstatementsinthisreport,intogenericfundtypesintwobroadfundcategories. GovernmentalFunds Agovernmentalfundisafundthroughwhichmostacademyfunctionstypicallyarefinanced.Theacquisition,useand balancesoftheAcademy’sexpendablefinancialresourcesandtherelatedcurrentliabilitiesareaccountedforthrougha governmentalfund. GeneralFundͲThegeneralfundisusedtorecordthegeneraloperationsoftheAcademypertainingtoeducationand thoseoperationsnotprovidedforinotherfunds.Includedarealltransactionsrelatedtotheapprovedcurrentoperating budget. SpecialRevenueFundͲThespecialrevenuefundisusedtoaccountforthefoodserviceprogramoperations.The specialrevenuefundisasubsidiaryoperationandisanobligationofthegeneralfund.Thereforeanyshortfallinthe specialrevenuefundwillbecoveredbyanoperatingtransferfromthegeneralfund.Thespecialrevenuefunddoesnot maintainitsownassetsandliabilities;accordingly,nobalancesheetispresentedforthisfund. DebtServiceFundͲThedebtservicefund,whichtheAcademydoesnotcurrentlymaintain,isusedtorecordcertain revenueandthepaymentofinterest,principalandotherexpendituresonlongͲtermdebt. CapitalProjectsFundͲThecapitalprojectsfund,whichtheAcademydoesnotcurrentlymaintain,accountsforfinancial resourcestobeusedfortheacquisition,construction,orimprovementofcapitalfacilities. FiduciaryFundͲThefiduciaryfund,whichtheAcademydoesnotcurrentlymaintain,isusedtoaccountforassetsheld bytheAcademyinatrusteecapacityorasanagent.Theagencyfundiscustodialinnatureanddoesnotinvolvethe measurementofresultsofoperations. Activity(Agency)FundͲTheAcademydoesnotpresentlymaintainanactivityfund,whichwouldbeusedtorecordthe transactionsofastudentgroupforschoolandschoolͲrelatedpurposes.Thefundwouldbesegregatedandheldintrust forthestudents. Ͳ8Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE1ͲSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESͲContinued Governmentalandagencyfundsutilizethemodifiedaccrualbasisofaccounting.Modificationsinsuchmethodfromthe accrualbasisareasfollows: a. Revenuethatisbothmeasurableandavailableforusetofinanceoperationsisrecordedasrevenuewhen earned.Revenuesareconsideredtobeavailablewhentheyarecollectiblewithinthecurrentperiodorsoon enoughthereaftertopayliabilitiesofthecurrentperiod.Forthispurpose,theAcademyconsidersrevenuesto beavailableiftheyarecollectedwithinsixtydaysoftheendofthecurrentfiscalperiod. b. Paymentsforinventoriabletypesofsupplies,whicharenotsignificantatyearend,arerecordedasexpenditures atthetimeofpurchase. c. PrincipalandinterestofgenerallongͲtermdebtarenotrecordedasexpendituresuntiltheirduedates. d. TheStateofMichiganutilizesafoundationallowancefundingapproach,whichprovidesforspecificannual amountofrevenueperstudentbasedonastateͲwideformula.Thefoundationallowanceisfundedfroma combinationofstateandlocalsources.RevenuefromstatesourcesisprimarilygovernedbytheSchoolAidAct andtheSchoolCodeofMichigan.ThestateportionofthefoundationisprovidedfromtheState’sSchoolAid Fundandisrecognizedasrevenueinaccordancewithstatelaw.AmajorportionoftheAcademy’srevenueis derivedfromthisstateaid.Assuch,theAcademyisconsideredtobeeconomicallydependentonthisaid.The Academy’sexistenceisdependentuponqualificationforsuchaid. GovernmentͲWideFinancialStatements ThegovernmentͲwidefinancialstatements(i.e.thestatementofNetPositionandtheStatementofActivities)report informationonallofthenonͲfiduciaryactivitiesoftheprimarygovernment.ThegovernmentͲwidefinancialstatements arepreparedusingtheeconomicresourcesmeasurementfocusandtheaccrualbasisofaccounting.Thisapproach differsfromthemannerinwhichgovernmentalfundfinancialstatementsareprepared.Therefore,governmentalfund financialstatementsincludereconciliationswithbriefexplanationstobetteridentifytherelationshipsbetweenthe governmentͲwidestatementsandthestatementsforgovernmentalfunds. ThegovernmentͲwideStatementofActivitiespresentsacomparisonbetweenexpensesandprogramrevenuesforeach segmentofthebusinessͲtypeactivitiesoftheAcademyandforeachgovernmentalprogram.Directexpensesarethose thatarespecificallyassociatedwithaservice,programordepartmentandarethereforeclearlyidentifiabletoa particularfunction.TheAcademydoesnotallocateindirectexpensestoprograms.Programrevenuesincludecharges paidbytherecipientsofthegoodsorservicesofferedbytheprogramsandgrantsandcontributionsthatarerestricted tomeetingtheoperationalorcapitalrequirementsofaparticularprogram.Revenuesnotclassifiedasprogram revenuesarepresentedasgeneralrevenues.Thecomparisonofprogramrevenuesandexpensesidentifiestheextent towhicheachprogramorfunctionisselffinancingordrawsfromthegeneralrevenuesoftheAcademy.Whenboth restrictedandunrestrictedresourcesareavailableforuse,itistheAcademy’spolicytouserestrictedresourcesfirst. Ͳ9Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE1ͲSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESͲContinued Netpositionshouldbereportedasrestrictedwhenconstraintsplacedonnetposition’suseareeitherexternally imposedbycreditors,grantors,contributors,orlawsorregulationsofothergovernmentsorimposedbylawthrough constitutionalprovisionsorenablinglegislation.TheAcademyfirstutilizesrestrictedresourcestofinancequalifying activities. Separatefinancialstatementsareprovidedforgovernmentalfundsandfiduciaryfunds,eventhoughthelatterare excludedfromthegovernmentͲwidefinancialstatements. CashandCashEquivalents The Academy's cash and cash equivalents are considered to be cash on hand, demand deposits and shortͲterm investmentswithmaturitiesofthreemonthsorlessfromthedateofacquisition.TheAcademyreportsitsinvestments inaccordancewithGASBStatementNo.31,AccountingandFinancialReportingforCertainInvestmentsandforExternal Investment Pools and GASB No. 40, Deposit and Investment Risk Disclosures.Under these standards, certain investmentsarevaluedatfairvalueasdeterminedbyquotedmarketpricesorbyestimatedfairvalueswhenquoted marketpricesarenotavailable.Thestandardsalsoprovidethatcertaininvestmentsarevaluedatcost(oramortized cost)whentheyareofashortͲtermduration,therateofreturnisfixed,andtheAcademyintendstoholdthe investmentuntilmaturity.TheAcademyheldnoinvestmentsduringtheyear.StatestatutesauthorizetheAcademyto investinbondsandotherdirectandcertainindirectobligationsoftheU.S.Treasury;certificatesofdeposit,saving accounts,depositaccounts,andordepositoryreceiptsofabank,savingsandloanassociation,orcreditunion,whichisa memberoftheFederalDepositInsuranceCorporation,FederalSavingsandLoanCorporationorNationalCreditUnion Administration,respectively;incommercialpaperratedatthetimeofpurchasewithinthethreehighestclassifications establishedbynotlessthantwostandardratingservicesandwhichmaturesnotmorethan270daysafterthedateof purchase.TheAcademyisalsoauthorizedtoinvestinU.S.GovernmentorFederalagencyobligationrepurchase agreements,bankers'acceptancesofU.S.banks,andmutualfundscomposedofinvestmentsasoutlinedabove. Receivables ReceivablesatJune30,2015consistprimarilyofstateschoolaidduefromtheStateofMichiganandthefederal government.AllreceivablesareexpectedtobefullycollectedinJulyandAugustof2015andareconsideredcurrentfor thepurposesofthesefinancialstatements. PrepaidAssets PaymentsmadetovendorsforservicesthatwillbenefitperiodsbeyondJune30,2015,arerecordedasprepaiditems usingtheconsumptionmethod.Acurrentassetfortheprepaidamountisrecordedatthetimeofthepurchaseandan expenditureisreportedintheyearinwhichservicesareconsumed. Ͳ10Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE1ͲSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESͲContinued CapitalAssetsandDepreciation Allcapitalassetsarecapitalizedatcost(orestimatedhistoricalcost)andupdatedforadditionsorretirementsduringthe year.TheAcademyfollowsthepolicyofnotcapitalizingassetswithausefullifeoflessthanoneyear.TheAcademy doesnotpossessanyinfrastructureassets. Allreportedcapitalassets,withtheexceptionofland,aredepreciated.Improvementsaredepreciatedoverthe remainingusefullivesoftherelatedcapitalassets.DepreciationiscomputedusingthestraightͲlinemethodoverthe followingusefullives: Buildingandimprovements 10–50years Furnitureandequipment 5–15years Computersandsoftware 3–10years AccruedLiabilitiesandLongͲTermObligations Allpayables,accruedliabilitiesandlongͲtermobligationsarereportedinthegovernmentͲwidefinancialstatements.In general,payablesandaccruedliabilitiesthatwillbepaidfromgovernmentalfundsarereportedonthegovernmental fundfinancialstatementsregardlessofwhethertheywillbeliquidatedwithcurrentresources.However,thenonͲ currentportionofcapitalleasesthatwillbepaidfromgovernmentalfundsarereportedasaliabilityinthefundfinancial statementsonlytotheextentthattheywillbepaidwithcurrent,expendable,availablefinancialresources.Ingeneral, paymentsmadewithinsixtydaysafteryearͲendareconsideredtohavebeenmadewithcurrentavailablefinancial resources.OtherlongͲtermobligationsthatwillbepaidfromgovernmentalfundsarenotrecognizedasaliabilityinthe fundfinancialstatementsuntildue. NetPosition Netpositionrepresentsthedifferencebetweenthesumofassetsanddeferredoutflowsandthesumofliabilitiesand deferredinflows.Netpositionisreportedasrestrictedwhentherearelimitationsimposedonitsuseeitherthroughthe enablinglegislationadoptedbytheAcademyorthroughexternalrestrictionsimposedbycreditors,grantorsorlawsof regulationsofothergovernments. FundEquity TheAcademyhasadoptedGASB54aspartofitsfiscalyearreporting.TheintentionoftheGASBistoprovideamore structuredclassificationoffundbalanceandtoimprovetheusefulnessoffundbalancereportingtotheusersofthe Academy’sfinancialstatements.Thereportingstandardestablishesahierarchyforfundbalanceclassificationsandthe constraintsimposedonthoseresources. GASB54providesfortwomajortypesoffundbalances,whicharenonspendableandspendable.Nonspendablefund balancesarebalancesthatcannotbespentbecausetheyarenotexpectedtobeconvertedtocashortheyarelegallyor contractuallyrequiredtoremainintact.Thiscategorytypicallyincludesprepaiditemsandinventories. Ͳ11Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE1ͲSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIESͲContinued Inadditiontononspendablefundbalance,GASB54hasprovidedahierarchyofspendablefundbalances,basedona hierarchyofspendingconstraints. a. Restrictedfundbalance – amounts constrained to specific purposes by their providers (such as grantors, bondholders,andhigherlevelsofgovernment),throughconstitutionalprovisions,orbyenablinglegislation. b. Committedfundbalance–amountsconstrainedtospecificpurposesbytheBoard;tobereportedascommitted, amountscannotbe usedforanyotherpurpose unlesstheBoardtakesaction toremoveorchangethe constraint. c. Assignedfundbalance–amountstheBoardintendstouseforaspecificpurpose;intentcanbeexpressedbythe BoardorbyanofficialorcommitteetowhichtheBoarddelegatestheauthority. d. Unassignedfundbalance–amountsthatareavailableforanypurpose;theseamountsarereportedonlyinthe generalfund. TheAcademyfollowsthepolicythatrestricted,committed,orassignedamountswillbeconsideredtohavebeenspent whenanexpenditureisincurredforpurposesforwhichbothunassignedandrestricted,committed,orassignedfund balancesareavailable. Estimates ThepreparationoffinancialstatementsinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStates ofAmericarequiresmanagementtomakeestimatesandassumptionsthataffecttheamountsreportedinthefinancial statementsandaccompanyingnotes.Actualresultsmaydifferfromthoseestimates. NOTE2ͲSTEWARDSHIP,COMPLIANCEANDACCOUNTABILITY AnnualbudgetsareadoptedonaconsistentbasiswithaccountingprinciplesgenerallyacceptedintheUnitedStatesof Americaandstatelawforthegeneralfund.Allannualappropriationslapseatfiscalyearendandencumbrancesarenot formallyrecorded. Thebudgetdocumentpresentsinformationbyfundandfunction.Thelegallevelofbudgetarycontroladoptedbythe governingbodyisthefunctionlevel.StatelawrequirestheAcademytohaveitsbudgetinplacebyJuly1.Expenditures inexcessofamountsbudgetedisaviolationofMichiganLaw.TheAcademyisrequiredbylawtoadoptageneralfund budget.DuringtheyearendedJune30,2015thebudgetwasamendedinalegallypermissiblemanner.Duringtheyear endedJune30,2015theAcademyincurredexpendituresincertainfunctionalareasthatwereinsignificantlyinexcessof theamountsappropriated,asdetailedonpage18ofthesefinancialstatements. Ͳ12Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport NOTE3ͲDEPOSITSANDINVESTMENTS InterestRateRisk Inaccordancewithitsinvestmentpolicy,theAcademywillminimizeinterestraterisk,whichistheriskthatthemarket valueofsecuritiesintheportfoliowillfallduetochangesinmarketinterestrates,by;structuringtheinvestment portfoliosothatsecuritiesmaturetomeetcashrequirementsforongoingoperations,therebyavoidingtheneedtosell securitiesintheopenmarket;and,investingoperatingfundsprimarilyinshorterͲtermsecurities,liquidassetfunds, moneymarketmutualfunds,orsimilarinvestmentpoolsandlimitingtheaveragematurityinaccordancewiththe Academy'scashrequirements. CreditRisk Statelawlimitsinvestmentsincommercialpaperandcorporatebondstoaprimeorbetterratingissuedbynationally recognizedstatisticalratingorganizations(NRSROs).AsofJune30,2015,theAcademyheldnoinvestments. ConcentrationofCreditRisk TheAcademywillminimizeconcentrationofcreditrisk,whichistheriskoflossattributedtothemagnitudeofthe Academy'sinvestmentinasingleissuer,bydiversifyingtheinvestmentportfoliosothattheimpactofpotentiallosses fromanyonetypeofsecurityorissuerwillbeminimized. CustodialCreditRiskͲDeposits Inthecaseofdeposits,thisistheriskthatintheeventofabankfailure,theAcademy'sdepositsmaynotbereturnedto it.AsofJune30,2015,$118,501oftheAcademy'scashwasexposedtocreditriskasitwasnotcoveredbyfederal depositinsurance.AllcashbalanceswereuncollateralizedasofJune30,2015. CustodialCreditRiskͲInvestments Foraninvestment,thisistheriskthat,intheeventofthefailureofthecounterparty,theAcademywillnotbeableto recoverthevalueofitsinvestmentsorcollateralsecuritiesthatareinthepossessionofanoutsideparty. TheAcademywillminimizecustodialcreditrisk,whichistheriskoflossduetothefailureofthesecurityissueror backer,by;limitinginvestmentstothetypesofsecuritiesallowedbylaw;andpreͲqualifyingthefinancialinstitutions, broker/dealers,intermediariesandadvisorswithwhichtheAcademywilldobusiness. ForeignCurrencyRisk TheAcademyisnotauthorizedtoinvestininvestmentswhichhavethistypeofrisk. Ͳ13Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE4–DUEFROMOTHERGOVERNMENTALUNITS Amountsduefromothergovernmentalunitsconsistofthefollowing: Localsources 16,102 $ Statesources 1,030,330 Federalsources 434,311
Total 1,480,743 $
NOTE5ͲCAPITALASSETS CapitalassetactivityoftheAcademy'sgovernmentalactivitieswasasfollows: Balance Balance July1,2014 Additions Disposals June30,2015
Capitalassetssubjecttodepreciation Equipment 132,259 $ Ͳ $ Ͳ $ 132,259 $ Furniture 170,476 23,164 Ͳ 193,640 Technologyequipment 252,557 Ͳ Ͳ 252,557 Other 22,989 18,465 Ͳ 41,454
SubͲtotal 578,281 41,629 Ͳ 619,910
Accumulateddepreciation Equipment 60,619 33,065 Ͳ 93,684 Furniture 42,328 27,627 Ͳ 69,955 Technologyequipment 99,009 56,440 Ͳ 155,449 Other 2,548 2,148 Ͳ 4,696
SubͲtotal 204,504 119,280 Ͳ 323,784
Totalnetcapitalassets 373,777 $ (77,651) $ Ͳ $ 296,126 $
DepreciationandamortizationexpensewasnotchargedtoactivitiesastheAcademyconsidersitsassetstoimpact multipleactivitiesandallocationisnotpractical. Ͳ14Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
NOTE6–NOTESPAYABLE LoanInformation
Interest Maturity Rate Date
SAAN13/14 2.80% August,2014
SSAN14/15 1.84% August,2015
LoanActivity
Balance Retirements Balance July1,2014 Additions andPayments June30,2015
SAAN13/14 143,958 $ Ͳ $ 143,958 $ Ͳ $ SAAN14/15 Ͳ 900,000 718,830 181,170
143,958$ 900,000 $ 862,788 $ 181,170 $
Other
Paidinfull IssuedtoprovideAcademywithoperatingfundsand securedbyfuturestateschoolaid.
NOTE7–ACCRUEDEXPENSES Accruedexpensesmaybesummarizedasfollows: PurchasedservicesͲpayrollandbenefits 227,794 $ Managementfee 121,573 Universityoversightfee 23,954
Totalaccruedexpenses 373,321 $
Ͳ15Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport NOTE8ͲLONGͲTERMOBLIGATIONSPAYABLE ThefollowingisasummaryoflongͲtermobligationsfortheAcademyduringtheyearendedJune30,2015: LoanInformation Interest Maturity Rate Date Equipmentloan 12.5% October,2017
LoanActivity
Balance Retirements Balance DueWithin July1,2014 Additions andPayments June30,2015 OneYear Equipmentloan 249,107 $ Ͳ $ 102,168 $ 146,939 $ 115,696 $
FollowingarematuritiesoflongͲtermobligationsforprincipalandinterestforthenexttwoyearsandintotal:
Principal Interest 2016 115,696 $ 11,888 $ 2017 31,243 652
Other Securedbyequipment
NOTE9–OPERATINGLEASES LeaseInformation
Maturity Approximate Date Payment
Facilitieslease June,2016 $365,000yearly
Theapproximateamountofleaseobligationscomingdueduringthenextyearisasfollows:
2016 365,000 $
Other Baserentwillbethegreaterof$365,000or 14%ofallfundstheAcademyisentitledto receivepursuanttotheStateSchoolAidAct of1979,asamended.
TheAcademyincurredleaseexpenseofapproximately$620,350duringtheyearendedJune30,2015. Ͳ16Ͳ
THENEWSTANDARDACADEMY NOTESTOFINANCIALSTATEMENTSͲContinued FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport NOTE10ͲRETIREMENTPLAN AllleasedemployeesoftheAcademyareeligibletoparticipateinaretirementplanestablishedbytheAcademy's managementcompany(theemployer)whichqualifiesundertheprovisionsofSection401(k)oftheInternalRevenue Code.TheAcademy,underthisplan,willreimbursetheemployer’scontributionof4%ofsalariesregardlessofthe amountthe employee contributes.TheAcademywilladditionallyreimbursetheemployer’smatchupto4% of employeecontributedfunds.Eligibleemployeesmaycontributeupto15%oftheirsalariesunderthetermsofthisplan. NOTE11ͲRISKMANAGEMENT TheAcademyisexposedtovariousrisksoflossrelatedtopropertyloss,torts,errorsandomissionsandemployee injuries(worker’scompensation),aswellasmedicalbenefitsprovidedtoemployees.TheAcademyhaspurchased commercialinsuranceforallclaims.Settledclaimsrelatingtothecommercialinsurancehavenotexceededtheamount ofinsurancecoveragesinceitsinception. Ͳ17Ͳ
SUPPLEMENTALINFORMATION
THENEWSTANDARDACADEMY REQUIREDSUPPLEMENTALINFORMATION BUDGETARYCOMPARISONSCHEDULE–GENERALFUND FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport Original Final Budget Budget Actual Variance
Revenues Localsources 354,700 $ 6,800 $ 8,093 $ 1,293 $ Statesources 4,497,000 5,084,821 5,031,626 (53,195) Federalsources 378,000 463,248 397,693 (65,555) Interdistrictsources 27,000 27,000 32,172 5,172
Totalgeneralfundrevenues 5,256,700 5,581,869 5,469,584 (112,285)
Expenditures Instruction Basicprograms 1,903,505 1,865,922 1,767,137 (98,785) Addedneeds 684,987 674,651 591,672 (82,979) Supportservices Pupilsupportservices 5,808 5,808 5,856 48 Instructionalstaffsupportservices 55,235 20,500 17,089 (3,411) Generaladministration 583,710 664,906 664,812 (94) Schooladministration 343,471 395,487 390,861 (4,626) Businesssupportservices 679,584 12,392 11,725 (667) Operationsandmaintenance 608,500 1,426,768 1,364,213 (62,555) Pupiltransportationservices 320,000 320,000 320,000 Ͳ Centralsupportservices Ͳ 6,000 6,441 441 Athleticactivities Ͳ 16,212 9,541 (6,671) Foodservices Ͳ Ͳ Ͳ Ͳ Communityservices 10,000 Ͳ Ͳ Ͳ Capitaloutlay Ͳ Ͳ 41,629 41,629 Debtprincipalandinterest 20,000 127,584 127,584 Ͳ
Totalgeneralfundexpenditures 5,214,800 5,536,230 5,318,560 (217,670)
Excess(deficiency)ofrevenues overexpenditures 41,900 45,639 151,024 105,385
FundbalanceͲJuly1,2014 27,587 27,587 27,587 Ͳ
FundbalanceͲJune30,2015 69,487 $ 73,226 $ 178,611 $ 105,385 $
Ͳ18Ͳ
THENEWSTANDARDACADEMY SCHEDULEOFREVENUES–GENERALFUND FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
LocalSources Otherlocalrevenues 8,093 $
StateSources Atrisk 274,945 Greatstartreadinessprogram 259,471 Specialeducation 40,726 Stateaid 4,456,484
Totalstatesources 5,031,626
FederalSources IDEA 44,789 TitleI 298,359 TitleIIA 54,545
Totalfederalsources 397,693
InterdistrictSources 32,172
Totalgeneralfundrevenues 5,469,584 $
Ͳ19Ͳ
THENEWSTANDARDACADEMY SCHEDULEOFEXPENDITURES–GENERALFUND FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
BasicPrograms Purchasedservices 1,691,678 $ Suppliesandmaterials 66,308 Otherexpenditures 9,151
Totalbasicprograms 1,767,137
AddedNeeds Purchasedservices 539,264 Suppliesandmaterials 52,408
Totaladdedneeds 591,672
PupilSupportServices Guidanceservices 5,856
InstructionalStaffSupportServices Purchasedservices 10,337 Suppliesandmaterials 6,752
Totalinstructionalstaffsupportservices 17,089
GeneralAdministration Purchasedservices 22,777 Managementfees 509,811 Universityoversight 131,684 Otherexpenditures 540
Totalgeneraladministration 664,812
SchoolAdministration Purchasedservices 382,013 Suppliesandmaterials 6,234 Otherexpenditures 2,614
Totalschooladministration 390,861
Ͳ20Ͳ
THENEWSTANDARDACADEMY SCHEDULEOFEXPENDITURES–GENERALFUNDͲCONTINUED FORTHEYEARENDEDJUNE30,2015 SeeIndependentAuditor’sReport
BusinessSupportServices Otherexpenditures 11,725
OperationsandMaintenance Purchasedservices 340,365 Repairsandmaintenance 195,243 Rentals 620,352 Suppliesandmaterials 208,253
Totaloperationsandmaintenance 1,364,213
PupilTransportationServices Otherexpenditures 320,000
CentralSupportServices Otherexpenditures 6,441
AthleticActivities Purchasedservices 4,737 Otherexpenditures 4,804
Totalathleticactivities 9,541
CapitalOutlay 41,629
DebtPrincipalandInterest 127,584
Totalgeneralfundexpenditures 5,318,560 $
Ͳ21Ͳ
APPENDIX FederalAwards SupplementalInformation
345 Diversion Street Ɣ Suite 400 44725 Grand River Avenue Ɣ Suite 204 2505 NW Boca Raton Blvd. Ɣ Suite 202 Rochester, MI 48307 Novi, Michigan 48375 Boca Raton, Florida 33431-6652 Phone: 248.659.5300 Phone: 248.659.5300 Phone: 561.241.1040 Fax: 248.659.5305 Fax: 248.659.5305 Fax: 561.368.4641 www.croskeylanni.com
David M. Croskey, CPA Thomas B. Lanni, CPA Carolyn A. Jones, CPA, CFP® MST Clifton F. Powell Jr., CPA, CFP®, PFS Roger J. DeJong, CPA Patrick M. Sweeney, CPA Leonard A. Geronemus, CPA, PFS
INDEPENDENTAUDITOR’SREPORTONINTERNALCONTROLOVERFINANCIALREPORTINGANDON COMPLIANCEANDOTHERMATTERSBASEDONANAUDITOFFINANCIALSTATEMENTSPERFORMED INACCORDANCEWITHGOVERNMENTAUDITINGSTANDARDS TotheBoardofDirectors ofTheNewStandardAcademy Wehaveaudited,inaccordancewiththeauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthe standardsapplicabletofinancialauditscontainedinGovernmentAuditingStandardsissuedbytheComptrollerGeneral oftheUnitedStates,thefinancialstatementsofthegovernmentalactivities,eachmajorfund,andtheaggregate remainingfundinformationofTheNewStandardAcademy,asofandfortheyearendedJune30,2015,andtherelated notestothefinancialstatements,whichcollectivelycompriseTheNewStandardAcademy’sbasicfinancialstatements, andhaveissuedourreportthereondatedOctober20,2015. InternalControlOverFinancialReporting Inplanningandperformingourauditofthefinancialstatements,weconsideredTheNewStandardAcademy’sinternal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstancesforthepurposeofexpressingouropinionsonthefinancialstatements,butnotforthepurposeof expressinganopinionontheeffectivenessofTheNewStandardAcademy’sinternalcontrol.Accordingly,wedonot expressanopinionontheeffectivenessofTheNewStandardAcademy’sinternalcontrol. Adeficiencyininternalcontrolexistswhenthedesignoroperationofacontroldoesnotallowmanagementor employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatementsonatimelybasis.Amaterialweaknessisadeficiency,oracombinationofdeficiencies,ininternal control,suchthatthereisareasonablepossibilitythatamaterialmisstatementoftheentity’sfinancialstatementswill notbeprevented,ordetectedandcorrectedonatimelybasis.Asignificantdeficiencyisadeficiency,oracombination ofdeficiencies,ininternalcontrolthatislessseverethanamaterialweakness,yetimportantenoughtomeritattention bythosechargedwithgovernance. Ourconsiderationofinternalcontrolwasforthelimitedpurposedescribedinthefirstparagraphofthissectionandwas notdesignedtoidentifyalldeficienciesininternalcontrolthatmightbematerialweaknessesor,significantdeficiencies. Giventheselimitations,duringourauditwedidnotidentifyanydeficienciesininternalcontrolthatweconsidertobe materialweaknesses.However,materialweaknessesmayexistthathavenotbeenidentified.
ComplianceandOtherMatters AspartofobtainingreasonableassuranceaboutwhetherTheNewStandardAcademy’sfinancialstatementsarefree frommaterialmisstatement,weperformedtestsofitscompliancewithcertainprovisionsoflaws,regulations,contracts andgrantagreements,noncompliancewithwhichcouldhaveadirectandmaterialeffectonthedeterminationof financialstatementamounts.However,providinganopiniononcompliancewiththoseprovisionswasnotanobjective ofouraudit,andaccordingly,wedonotexpresssuchanopinion.Theresultsofourtestsdisclosednoinstancesof noncomplianceorothermattersthatarerequiredtobereportedunderGovernmentAuditingStandards. PurposeofthisReport Thepurposeofthisreportissolelytodescribethescopeofourtestingofinternalcontrolandcomplianceandthe resultsofthattesting,andnottoprovideanopinionontheeffectivenessoftheentity’sinternalcontroloron compliance.ThisreportisanintegralpartofanauditperformedinaccordancewithGovernmentAuditingStandardsin consideringtheentity’sinternalcontrolandcompliance.Accordingly,thiscommunicationisnotsuitableforanyother purpose.
CroskeyLanni,PC October20,2015 Rochester,Michigan AͲ2
345 Diversion Street Ɣ Suite 400 44725 Grand River Avenue Ɣ Suite 204 2505 NW Boca Raton Blvd. Ɣ Suite 202 Rochester, MI 48307 Novi, Michigan 48375 Boca Raton, Florida 33431-6652 Phone: 248.659.5300 Phone: 248.659.5300 Phone: 561.241.1040 Fax: 248.659.5305 Fax: 248.659.5305 Fax: 561.368.4641 www.croskeylanni.com
David M. Croskey, CPA Thomas B. Lanni, CPA Carolyn A. Jones, CPA, CFP® MST Clifton F. Powell Jr., CPA, CFP®, PFS Roger J. DeJong, CPA Patrick M. Sweeney, CPA Leonard A. Geronemus, CPA, PFS
INDEPENDENTAUDITOR’SREPORTONCOMPLIANCEFOREACHMAJORPROGRAMANDON INTERNALCONTROLOVERCOMPLIANCEREQUIREDBYOMBCIRCULARAͲ133
TotheBoardofDirectors ofTheNewStandardAcademy ReportonComplianceforEachMajorFederalProgram WehaveauditedTheNewStandardAcademy’scompliancewiththetypesofcompliancerequirementsdescribedinthe OMBCircularAͲ133ComplianceSupplementthatcouldhaveadirectandmaterialeffectoneachofTheNewStandard Academy’smajorfederalprogramsfortheyearendedJune30,2015.TheNewStandardAcademy’smajorfederal programsareidentifiedinthesummaryofauditor’sresultssectionoftheaccompanyingscheduleoffindingsand questionedcosts. Management’sResponsibility Managementisresponsibleforcompliancewiththerequirementsoflaws,regulations,contracts,andgrantsapplicable toitsfederalprograms. Auditor’sResponsibility OurresponsibilityistoexpressanopiniononcomplianceforeachofTheNewStandardAcademy’smajorfederal programsbasedonourauditofthetypesofcompliancerequirementsreferredtoabove.Weconductedourauditof complianceinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica;thestandards applicabletofinancialauditscontainedinGovernmentAuditingStandards,issuedbytheComptrollerGeneralofthe UnitedStates,andOMBCircularAͲ133,AuditsofStates,LocalGovernments,andNonͲProfitOrganizations.Those standardsandOMBCircularAͲ133requirethatweplanandperformtheaudittoobtainreasonableassuranceabout whethernoncompliancewiththetypesofcompliancerequirementsreferredtoabovethatcouldhaveadirectand materialeffectonamajorfederalprogramoccurred.Anauditincludesexamining,onatestbasis,evidenceaboutThe NewStandardAcademy’scompliancewiththoserequirementsandperformingsuchotherproceduresasweconsidered necessaryinthecircumstances. Webelievethatourauditprovidesareasonablebasisforouropiniononcomplianceforeachmajorfederalprogram. However,ourauditdoesnotprovidealegaldeterminationofTheNewStandardAcademy’scompliance. OpiniononEachMajorFederalProgram In our opinion, The New Standard Academy, complied, in all material respects, with the types of compliance requirementsreferredtoabovethatcouldhaveadirectandmaterialeffectoneachofitsmajorfederalprogramsfor theyearendedJune30,2015.
ReportonInternalControlOverCompliance ManagementofTheNewStandardAcademyisresponsibleforestablishingandmaintainingeffectiveinternalcontrol overcompliancewiththetypesofcompliancerequirementsreferredtoabove.Inplanningandperformingourauditof compliance, we considered The New Standard Academy’s internal control over compliance with the types of requirementsthatcouldhaveadirectandmaterialeffectoneachmajorfederalprogramtodeterminetheauditing proceduresthatareappropriateinthecircumstancesforthepurposeofexpressinganopiniononcomplianceforeach majorfederalprogramandtotestandreportoninternalcontrolovercomplianceinaccordancewithOMBCircularAͲ 133,butnotforthepurposeofexpressinganopinionontheeffectivenessofinternalcontrolovercompliance. Accordingly,wedonotexpressanopinionontheeffectivenessofTheNewStandardAcademy’sinternalcontrolover compliance. Adeficiencyininternalcontrolovercomplianceexistswhenthedesignoroperationofacontrolovercompliancedoes notallowmanagementoremployees,inthenormalcourseofperformingtheirassignedfunctions,topreventordetect andcorrect,noncompliancewithatypeofcompliancerequirementofafederalprogramonatimelybasis.Amaterial weaknessininternalcontrolovercomplianceisadeficiency,orcombinationofdeficiencies,ininternalcontrolover compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirementofafederalprogramwillnotbeprevented,ordetectedandcorrected,onatimelybasis.Asignificant deficiencyininternalcontrolovercomplianceisadeficiency,oracombinationofdeficiencies,ininternalcontrolover compliancewithatypeofcompliancerequirementofafederalprogramthatislessseverethanamaterialweaknessin internalcontrolovercompliance,yetimportantenoughtomeritattentionbythosechargedwithgovernance. Ourconsiderationofinternalcontrolovercompliancewasforthelimitedpurposedescribedinthefirstparagraphofthis sectionandwasnotdesignedtoidentifyalldeficienciesininternalcontrolovercompliancethatmightbematerial weaknessesorsignificantdeficiencies.Wedidnotidentifyanydeficienciesininternalcontrolovercompliancethatwe considertobematerialweaknesses.However,materialweaknessesmayexistthathavenotbeenidentified. Thepurposeofthisreportoninternalcontrolovercomplianceissolelytodescribethescopeofourtestingofinternal controlovercomplianceandtheresultsofthattestingbasedontherequirementsofOMBCircularAͲ133.Accordingly, thisreportisnotsuitableforanyotherpurpose. CroskeyLanni,PC October20,2015 Rochester,Michigan
AͲ4
THENEWSTANDARDACADEMY SCHEDULEOFEXPENDITURESOFFEDERALAWARDS FORTHEYEARENDEDJUNE30,2015 AccruedFederalFunds/Accrued Approved(MemoOnly)(Deferred)AdjustmentsPayments(Deferred) CFDAAwardsPriorYearRevenueatandInͲkindRevenueat NumberAmountExpendituresJuly1,2014TransfersReceivedExpendituresJune30,2015
USDepartmentofAgriculture PassedthroughMichigan DepartmentofEducation:
ChildNutritionCluster SchoolBreakfastProgram10.553158,819 $Ͳ $16,140 $Ͳ $158,819 $157,154 $14,475 $ NationalSchoolLunchProgram10.555306,968Ͳ 45,826Ͳ 306,968 283,285 22,143 Entitlement14Ͳ1510.5554,830ͲͲͲ 4,830 4,830Ͳ
TotalUSDepartmentofAgriculture, PassedthroughMichigan DepartmentofEducation470,617Ͳ 61,966Ͳ 470,617 445,269 36,618
USDepartmentofEducation PassedthroughGenesseCountyISD
I.D.E.A.Cluster 13Ͳ14Flowthrough84.027Ͳ 54,447 54,447Ͳ 54,447ͲͲ 14Ͳ15Flowthrough84.02744,789ͲͲͲͲ 44,789 44,789
TotalUSDepartmentofEducation PassedthroughGenesseCountyISD44,789 54,447 54,447Ͳ 54,447 44,789 44,789
ProgramTitle/Project NumberSubrecipientName
Seeaccompanyingnotestoscheduleofexpendituresoffederalawards
AͲ5
THENEWSTANDARDACADEMY SCHEDULEOFEXPENDITURESOFFEDERALAWARDSͲContinued FORTHEYEARENDEDJUNE30,2015
AccruedFederalFunds/Accrued Approved(MemoOnly)(Deferred)AdjustmentsPayments(Deferred) CFDAAwardsPriorYearRevenueatandInͲkindRevenueat NumberAmountExpendituresJuly1,2014TransfersReceivedExpendituresJune30,2015
USDepartmentofEducation PassedthroughtheMichigan DepartmentofEducation
TitleI84.010 14152013143,000 3,000 3,000 3,000 1415301314261,026 214,492 214,492Ͳ 214,492ͲͲ 1515301415363,951ͲͲͲͲ 298,359 298,359
TotalTitleICluster627,977 217,492 217,492Ͳ 217,492 298,359 298,359
CharterSchoolGrant84.282 1306101213109,913Ͳ (40,088)Ͳ (40,088)ͲͲ
TitleIIA84.367 140520131486,471 46,982 46,982Ͳ 46,982ͲͲ 150520141588,416ͲͲͲͲ 54,545 54,545
TotalUSDepartmentofEducation PassedthroughfromMichigan DepartmentofEducation912,777 264,474 224,386Ͳ 224,386 352,904 352,904
Totalfederalawards1,428,183 $318,921 $340,799 $Ͳ $749,450 $842,962 $434,311 $
ProgramTitle/Project NumberSubrecipientName
Seeaccompanyingnotestoscheduleofexpendituresoffederalawards
AͲ6
THENEWSTANDARDACADEMY RECONCILIATIONOFBASICFINANCIALSTATEMENTSFEDERALREVENUE ANDRECEIVABLESWITHSCHEDULEOFEXPENDITURESOFFEDERALAWARDS FORTHEYEARENDEDJUNE30,2015 RevenuestoExpenditures RevenuefromfederalsourcesͲAsreportedonfinancialstatements (includesallfunds):
GeneralFund 397,693 $ SpecialRevenueFund 445,269
Federalexpendituresperthescheduleofexpendituresoffederalawards 842,962 $
AͲ7
THENEWSTANDARDACADEMY NOTESTOSCHEDULEOFEXPENDITURESOFFEDERALAWARDS FORTHEYEARENDEDJUNE30,2015 NOTE1ͲSUMMARYOFSIGNIFICANTACCOUNTINGPOLICIES Theaccompanyingscheduleofexpendituresoffederalawards(the“Schedule”)includesthefederalgrantactivityofThe NewStandardAcademyunderprogramsofthefederalgovernmentfortheyearendedJune30,2015.Expenditures reportedontheSchedulearereportedonthesamebasisofaccountingasthebasicfinancialstatements,althoughthe basisfordeterminingwhenfederalawardsareexpendedispresentedinaccordancewithrequirementsofOMBCircular AͲ133,AuditsofStates,LocalGovernments,andNonͲProfitOrganizations.Inaddition,expendituresreportedonthe Schedule are recognized following the cost principles contained in OMB Circular AͲ87, wherein certain types of expendituresarenotallowableorarelimitedastoreimbursement.Therefore,someamountspresentedinthis Schedulemaydifferfromamountspresentedin,orusedinthepreparationof,thebasicfinancialstatements. BecausetheSchedulepresentsonlyaselectedportionoftheoperationsofTheNewStandardAcademy,itisnot intendedtoanddoesnotpresentthefinancialposition,changesinnetassets,orcashflows,ifapplicable,ofTheNew StandardAcademy.PassͲthroughentityidentifyingnumbersarepresentedwhereavailable. NOTE2ͲNONCASHASSISTANCE ThevalueofthenoncashassistancereceivedwasdeterminedinaccordancewiththeprovisionsofOMBCircularAͲ133. NOTE3ͲGRANTAUDITOR'SREPORT ManagementhasutilizedtheGrantAuditor'sreportinpreparingthescheduleofexpendituresoffederalawards.UnͲ reconcileddifferences,ifany,havebeendisclosedtotheauditor. AͲ8
THENEWSTANDARDACADEMY SCHEDULEOFFINDINGSANDQUESTIONEDCOSTS FORTHEYEARENDEDJUNE30,2015
SECTIONIͲSUMMARYOFTHEAUDITOR’SRESULTS FinancialStatements Typeofauditor’sreportissued:Unmodified Internalcontroloverfinancialreporting: x Materialweakness(es)identified? ___yes _x__no x Significantdeficiency(ies)identifiedthatarenot consideredtobeamaterialweakness(es)? ___yes _x__no Noncompliancematerialtofinancialstatementsnoted? ___yes _x__no FederalAwards Internalcontrolovermajorprograms: x Materialweakness(es)identified? ___yes _x__no x Significantdeficiency(ies)identifiedthatarenot consideredtobeamaterialweakness(es)? ___yes _x__no Typeofauditor’sreportissuedoncomplianceformajorprograms:Unmodified Anyauditfindingsdisclosedthatarerequiredtobereported inaccordancewithSection510(a)ofCircularAͲ133? ___yes _x__no Identificationofmajorprograms: CFDANumber(s) NameofFederalProgramorCluster #10.553 NationalSchoolBreakfastProgram 10.555 NationalSchoolLunchProgram&Commodities Dollarthresholdusedtodistinguishbetween TypeAandTypeBprograms: $300,000 AuditeequalifiedaslowͲriskauditee? ____yes _x__no SECTIONII–FINANCIALSTATEMENTFINDINGS None SECTIONIII–FEDERALAWARDFINDINGSANDQUESTIONEDCOSTS None AͲ9
PLAN DESIGN
Customer Name: The Romine Group
Proposed Effective Date: 01-01-2015
Policy Period: 12
Data Source ID: Q3188722 - 1 - All Employees/NC/250/4629MIPP#2139
Option: $250 PPO Plan Option
Plan: PPO Plan
Location(s): Michigan
Specialty Networks Included: None Quoted
Organization Name: Aetna
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
Prepared: 09/25/2014 03:21 PM Page 1
PLAN FEATURES IN-NETWORK OUT-OF-NETWORK Deductible (per calendar year) $250 Individual $10,000 Individual $500 Family $20,000 Family All covered expenses accumulate separately toward the preferred or non-preferred Deductible. Unless otherwise indicated, the deductible must be met prior to benefits being payable. Member cost sharing for certain services, as indicated in the plan, are excluded from charges to meet the Deductible. Pharmacy expenses do not apply towards the Deductible. The family Deductible is a cumulative Deductible for all family members. The family Deductible can be met by a combination of family members; however no single individual within the family will be subject to more than the individual Deductible amount. Member Coinsurance 10% 50% Applies to all expenses unless otherwise stated. Payment Limit (per calendar year) $750 Individual $12,000 Individual $1,500 Family $24,000 Family All covered expenses accumulate separately toward the preferred or non-preferred Payment Limit. Certain member cost sharing elements may not apply toward the Payment Limit. Pharmacy expenses apply towards the Payment Limit. Only those out-of-pocket expenses resulting from the application of coinsurance percentage, copays, and deductibles (except any penalty amounts) may be used to satisfy the Payment Limit. The family Payment Limit is a cumulative Payment Limit for all family members. The family Payment Limit can be met by a combination of family members; however no single individual within the family will be subject to more than the individual Payment Limit amount. Lifetime Maximum Unlimited except where otherwise indicated. Payment for Non-Preferred Care** Not Applicable Professional: 105% of Medicare Facility: 140% of Medicare Primary Care Physician Selection Not Applicable Not Applicable Certification Requirements - Certification for certain types of Non-Preferred care must be obtained to avoid a reduction in benefits paid for that care. Certification for Hospital Admissions, Treatment Facility Admissions, Convalescent Facility Admissions, Home Health Care, Hospice Care and Private Duty Nursing is required - excluded amount applied separately to each type of expense is $400 per occurrence. Referral Requirement None None PREVENTIVE CARE IN-NETWORK OUT-OF-NETWORK Routine Adult Physical Exams/ Immunizations Covered 100%; deductible waived 50%; after deductible 1 exam every 12 months for members age 22 to age 65; 1 exam every 12 months for adults age 65 and older. Routine Well Child Exams/Immunizations Covered 100%; deductible waived 50%; after deductible 7 exams in the first 12 months of life, 3 exams in the second 12 months of life, 3 exams in the third 12 months of life, 1 exam per year thereafter to age 22. Routine Gynecological Care Exams Covered 100%; deductible waived 50%; after deductible Recommended: One exam per calendar year. Includes routine tests and related lab fees. Routine Mammograms Covered 100%; deductible waived 50%; after deductible Recommended: One baseline mammogram for covered females age 35-39, one mammogram per calendar year for covered females age 40 and over. Women's Health Covered 100%; deductible waived 50%; after deductible Includes: Screening for gestational diabetes, HPV (Human- Papillomavirus) DNA testing, counseling for sexually transmitted infections, counseling and screening for human immunodeficiency virus, screening and counseling for interpersonal and domestic violence, breastfeeding support, supplies and counseling.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
Prepared: 09/25/2014 03:21 PM Page 2
Contraceptive methods, sterilization procedures, patient education and counseling. Limitations may apply. Routine Digital Rectal Exam Covered 100%; deductible waived 50%; after deductible Prostate-specific Antigen Test Covered 100%; deductible waived 50%; after deductible Colorectal Cancer Screening Covered under Routine Adult Exams Covered under Routine Adult Exams Recommended: For all members age 50 and over. Routine Eye Exams Covered 100%; deductible waived Not Covered 1 routine exam per 24 months. Routine Hearing Exams Not Covered Not Covered Routine Hearing Screening Covered 100%; deductible waived 50%; after deductible PHYSICIAN SERVICES IN-NETWORK OUT-OF-NETWORK Office Visits to non-Specialist $30 office visit copay; deductible waived 50%; after deductible Includes services of an internist, general physician, family practitioner or pediatrician. Specialist Office Visits $30 office visit copay; deductible waived 50%; after deductible Pre-Natal Maternity Covered 100%; deductible waived Covered according to standard claim practice. E-visit to Non-Specialist $30 copay; deductible waived 50%; after deductible An E-visit is an online internet consultation between a physician and an established patient about a non-emergency healthcare matter. This visit must be conducted through our authorized internet E-visit service vendor. E-visit to Specialist $30 copay; deductible waived 50%; after deductible An E-visit is an online internet consultation between a physician and an established patient about a non-emergency healthcare matter. This visit must be conducted through our authorized internet E-visit service vendor. Walk-in Clinics $30 office visit copay; deductible waived 50%; after deductible Walk-in Clinics are network, free-standing health care facilities. They are an alternative to a physician's office visit for treatment of unscheduled, non-emergency illnesses and injuries and the administration of certain immunizations. It is not an alternative for emergency room services or the ongoing care provided by a physician. Neither an emergency room, nor the outpatient department of a hospital, shall be considered a Walk-in Clinic. Allergy Testing Member cost sharing is based on the type of service performed and the place of service where it is rendered; deductible waived Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Allergy Injections Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible DIAGNOSTIC PROCEDURES IN-NETWORK OUT-OF-NETWORK Diagnostic X-ray 10%; after deductible 50%; after deductible If performed as a part of a physician office visit and billed by the physician, expenses are covered subject to the applicable physician's office visit member cost sharing. Diagnostic Laboratory 10%; after deductible 50%; after deductible If performed as a part of a physician office visit and billed by the physician, expenses are covered subject to the applicable physician's office visit member cost sharing. Diagnostic Outpatient Complex Imaging 10%; after deductible 50%; after deductible EMERGENCY MEDICAL CARE IN-NETWORK OUT-OF-NETWORK Urgent Care Provider $50 copay; deductible waived 50%; after deductible Non-Urgent Use of Urgent Care Provider Not Covered Not Covered
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
Prepared: 09/25/2014 03:21 PM Page 3
Emergency Room $150 copay; deductible waived Same as preferred care Non-Emergency Care in an Emergency Room Not Covered Not Covered Emergency Use of Ambulance $100 copay; after deductible $100 copay; after deductible Non-Emergency Use of Ambulance Not Covered Not Covered HOSPITAL CARE IN-NETWORK OUT-OF-NETWORK Inpatient Coverage 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Inpatient Maternity Coverage (includes delivery and postpartum care) 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Outpatient Hospital Expenses 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. Outpatient Surgery 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. Outpatient Surgery - Freestanding Facility 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. MENTAL HEALTH SERVICES IN-NETWORK OUT-OF-NETWORK Inpatient 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Outpatient $30 copay; deductible waived 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. ALCOHOL/DRUG ABUSE SERVICES IN-NETWORK OUT-OF-NETWORK Inpatient 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Residential Treatment Facility 10%; after deductible 50%; after deductible Treatment Facility 10%; after deductible 50%; after deductible Outpatient $30 copay; deductible waived 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. OTHER SERVICES IN-NETWORK OUT-OF-NETWORK Convalescent Facility 10%; after deductible 50%; after deductible Limited to 60 days per calendar year. The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Home Health Care 10%; after deductible 50%; after deductible Limited to 60 visits per calendar year. Each visit by a nurse or therapist is one visit. Each visit up to 4 hours by a home health care aide is one visit. Hospice Care - Inpatient 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Hospice Care - Outpatient 10%; after deductible 50%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. Private Duty Nursing - Outpatient Not Covered Not Covered Outpatient Short-Term Rehabilitation $30 copay; deductible waived 50%; after deductible Includes Speech, Physical, and Occupational Therapy, limited to 60 visits per calendar year. Spinal Manipulation Therapy $30 copay; deductible waived 50%; after deductible Limited to 20 visits per calendar year.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
Prepared: 09/25/2014 03:21 PM Page 4
Autism Behavioral Therapy $30 copay; deductible waived 50%; after deductible Covered same as any other Outpatient Mental Health benefit Autism Applied Behavior Analysis $30 copay; deductible waived 50%; after deductible Covered same as any other Outpatient Mental Health benefit with no age or visit limitations. Autism Physical Therapy $30 copay; deductible waived 50%; after deductible Visits combined with Short Term Rehabilitation. Autism Occupational Therapy $30 copay; deductible waived 50%; after deductible Visits combined with Short Term Rehabilitation. Autism Speech Therapy $30 copay; deductible waived 50%; after deductible Visits combined with Short Term Rehabilitation. Durable Medical Equipment 10%; after deductible 50%; after deductible Diabetic Supplies -- (if not covered under Pharmacy benefit) Covered same as any other medical expense. Covered same as any other medical expense. Generic FDA-approved Women's Contraceptives Covered 100%; deductible waived Not Covered Contraceptive drugs and devices not obtainable at a pharmacy Covered 100%; deductible waived Covered same as any other medical expense. Transplants 10%; after deductible 50%; after deductible Preferred coverage is provided at an IOE contracted facility only. Non-Preferred coverage is provided at a Non-IOE facility. Bariatric Surgery Not Covered Not Covered The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. "Other" Health Care -- 20% member coinsurance after the preferred (per calendar year) deductible for services that are neither "preferred" nor "non-preferred". FAMILY PLANNING IN-NETWORK OUT-OF-NETWORK Infertility Treatment Member cost sharing is based on the type of service performed and the place of service where it is rendered Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Diagnosis and treatment of the underlying medical condition. Comprehensive Infertility Services Not Covered Not Covered Advanced Reproductive Technology (ART) Not Covered Not Covered Vasectomy Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible. Tubal Ligation Covered 100%; deductible waived Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible. Voluntary Abortion Not Covered Not Covered PHARMACY IN-NETWORK OUT-OF-NETWORK Pharmacy Plan Type Open Formulary; with mid year changes Retail $10 copay for generic drugs, $40 copay for formulary brand-name drugs, and $60 copay for non-formulary brand-name drugs up to a 30 day supply at participating pharmacies. 50% of submitted cost after the applicable preferred copay
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
Prepared: 09/25/2014 03:21 PM Page 5
Mail Order $20 copay for generic drugs, $80 copay for formulary brand-name drugs, and $120 copay for non-formulary brand-name drugs up to a 31-90 day supply from Aetna Rx Home Delivery®.
Not Applicable
Aetna Specialty CareRx First prescription fill at any retail drug facility. Subsequent fills must be through Aetna Specialty Pharmacy®. Choose Generics - If the member or the physician requests brand when generic is available, the member pays the applicable copay plus the difference between the generic price and the brand price. Plan Includes: Diabetic supplies and Contraceptive drugs and devices obtainable from a pharmacy. Oral and injectable fertility drugs included (physician charges for injections are not covered under RX, medical coverage is limited). Precert for growth hormones included. Expanded Precert included with 90 day Transition of Care. Formulary Generic FDA-approved Women's Contraceptives and certain over-the-counter preventive medications covered 100% in network. GENERAL PROVISIONS Dependents Eligibility Spouse, children from birth to age 26 regardless of student status. Pre-existing Conditions Exclusion On effective date: Waived After effective date: Waived
**We cover the cost of services based on whether doctors are "in network" or "out of network." We want to help you understand how much we pay for your out-of-network care. At the same time, we want to make it clear how much more you will need to pay for this "out-of-network" care.
You may choose a provider (doctor or hospital) in our network. You may choose to visit an out-of-network provider. If you choose a doctor who is out of network, your health plan may pay some of that doctor's bill. Most of the time, you will pay a lot more money out of your own pocket if you choose to use an out-of-network doctor or hospital.
When you choose out-of-network care, we limit the amount it will pay. This limit is called the "recognized" or "allowed" amount.
• For doctors and other professionals the amount is based on what Medicare pays for these services. The government sets the Medicare rate. Exactly how much we "recognize" depends on the plan you or your employer picks.
• For hospitals and other facilities, the amount is based on what Medicare pays for these services. The government sets the Medicare rate. Exactly how much we "recognize" depends on the plan you or your employer picks.
Your doctor sets his or her own rate to charge you. It may be higher -- sometimes much higher -- than what your plan "recognizes." Your doctor may bill you for the dollar amount that we don't "recognize." You must also pay any copayments, coinsurance and deductibles under your plan. No dollar amount above the "recognized charge" counts toward your deductible or out-of-pocket maximums. To learn more about how we pay out-of-network benefits visit our website.
You can avoid these extra costs by getting your care from Aetna's broad network of health care providers. Go to www.aetna.com and click on "Find a Doctor" on the left side of the page. If you are already a member, sign on to your Navigator member site.
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PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
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This applies when you choose to get care out of network. When you have no choice (for example: emergency room visit after a car accident, or for other emergency services), we will pay the bill as if you got care in network. You pay cost sharing and deductibles for your in-network level of benefits. Contact us if your provider asks you to pay more. You are not responsible for any outstanding balance billed by your providers for emergency services beyond your cost sharing and deductibles.
This way of paying out-of-network doctors and hospitals applies when you choose to get care out of network. When you have no choice (for example: emergency room visit after a car accident), we will pay the bill as if you got care in network. You pay your plan's copayments, coinsurance and deductibles for your in-network level of benefits. Contact us if your provider asks you to pay more. You are not responsible for any outstanding balance billed by your providers for emergency services beyond your copayments, coinsurance and deductibles.
Plans are provided by: Aetna Life Insurance Company. While this material is believed to be accurate as of the production date, it is subject to change.
Health benefits and health insurance plans contain exclusions and limitations. Not all health services are covered.
See plan documents for a complete description of benefits, exclusions, limitations and conditions of coverage. Plan features and availability may vary by location and are subject to change. You may be responsible for the health care provider's full charges for any non-covered services, including circumstances where you have exceeded a benefit limit contained in the plan. Providers are independent contractors and are not our agents. Provider participation may change without notice. We do not provide care or guarantee access to health services.
The following is a list of services and supplies that are generally not covered. However, your plan documents may contain exceptions to this list based on state mandates or the plan design or rider(s) purchased by your employer.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
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• All medical and hospital services not specifically covered in, or which are limited or excluded by your plan documents. • Cosmetic surgery, including breast reduction. • Custodial care. • Dental care and dental X-rays. • Donor egg retrieval. • Durable medical Equipment • Experimental and investigational procedures, except for coverage for medically necessary routine patient care costs for members participating in a cancer clinical trial. • Hearing aids • Home births • Immunizations for travel or work, except where medically necessary or indicated. • Implantable drugs and certain injectable drugs including injectable infertility drugs. • Infertility services, including artificial insemination and advanced reproductive technologies such as IVF, ZIFT, GIFT, ICSI and other related services, unless specifically listed as covered in your plan documents. • Long-term rehabilitation therapy. • Non-medically necessary services or supplies. • Orthotics except diabetic orthotics. • Outpatient prescription drugs (except for treatment of diabetes), unless covered by a prescription plan rider and over-the-counter medications (except as provided in a hospital) and supplies. • Radial keratotomy or related procedures. • Reversal of sterilization. • Services for the treatment of sexual dysfunction or inadequacies, including therapy, supplies or counseling or prescription drugs. • Special duty nursing. • Therapy or rehabilitation other than those listed as covered. • Treatment of behavioral disorders. • Weight control services including surgical procedures, medical treatments, weight control/loss programs, dietary regimens and supplements, appetite suppressants and other medications; food or food supplements, exercise programs, exercise or other equipment; and other services and supplies that are primarily intended to control weight or treat obesity, including Morbid Obesity, or for the purpose of weight reduction, regardless of the existence of comorbid conditions.
Aetna receives rebates from drug manufacturers that may be taken into account in determining Aetna's Preferred Drug List. Rebates do not reduce the amount a member pays the pharmacy for covered prescriptions. Aetna Rx Home Delivery refers to Aetna Rx Home Delivery, LLC, a licensed pharmacy subsidiary of Aetna Inc., that operates through mail order. The charges that Aetna negotiates with Aetna Rx Home Delivery may be higher than the cost they pay for the drugs and the cost of the mail order pharmacy services they provide. For these purposes, the pharmacy's cost of purchasing drugs takes into account discounts, credits and other amounts that they may receive from wholesalers, manufacturers, suppliers and distributors.
In case of emergency, call 911 or your local emergency hotline, or go directly to an emergency care facility.
Translation of the material into another language may be available. Please call Member Services at 1-888-982-3862.
Puede estar disponible la traduccion de este material en otro idioma. Por favor llame a Servicios al Miembro al 1-888-982-3862.
Plan features and availability may vary by location and group size.
For more information about Aetna plans, refer to www.aetna.com.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
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© 2014 Aetna Inc.
Prepared: 09/25/2014 03:23 PM
PLAN DESIGN
Customer Name: The Romine Group
Proposed Effective Date: 01-01-2015
Policy Period: 12
Data Source ID: Q3188722 - 2 - All Employees/NC/250/4629MIPP#2148
Option: $3000 PPO Plan
Plan: PPO Plan
Location(s): Michigan
Specialty Networks Included: None Quoted
Organization Name: Aetna
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
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PLAN FEATURES IN-NETWORK OUT-OF-NETWORK Deductible (per calendar year) $3,000 Individual $6,000 Individual $6,000 Family $12,000 Family All covered expenses accumulate separately toward the preferred or non-preferred Deductible. Unless otherwise indicated, the deductible must be met prior to benefits being payable. Member cost sharing for certain services, as indicated in the plan, are excluded from charges to meet the Deductible. Pharmacy expenses do not apply towards the Deductible. The family Deductible is a cumulative Deductible for all family members. The family Deductible can be met by a combination of family members; however no single individual within the family will be subject to more than the individual Deductible amount. Member Coinsurance Covered 100% 20% Applies to all expenses unless otherwise stated. Payment Limit (per calendar year) $3,000 Individual $11,000 Individual $6,000 Family $22,000 Family All covered expenses accumulate separately toward the preferred or non-preferred Payment Limit. Certain member cost sharing elements may not apply toward the Payment Limit. Pharmacy expenses apply towards the Payment Limit. Only those out-of-pocket expenses resulting from the application of coinsurance percentage, copays, and deductibles (except any penalty amounts) may be used to satisfy the Payment Limit. The family Payment Limit is a cumulative Payment Limit for all family members. The family Payment Limit can be met by a combination of family members; however no single individual within the family will be subject to more than the individual Payment Limit amount. Lifetime Maximum Unlimited except where otherwise indicated. Payment for Non-Preferred Care** Not Applicable Professional: 105% of Medicare Facility: 140% of Medicare Primary Care Physician Selection Not Applicable Not Applicable Certification Requirements - Certification for certain types of Non-Preferred care must be obtained to avoid a reduction in benefits paid for that care. Certification for Hospital Admissions, Treatment Facility Admissions, Convalescent Facility Admissions, Home Health Care, Hospice Care and Private Duty Nursing is required - excluded amount applied separately to each type of expense is $400 per occurrence. Referral Requirement None None PREVENTIVE CARE IN-NETWORK OUT-OF-NETWORK Routine Adult Physical Exams/ Immunizations Covered 100%; deductible waived 20%; after deductible 1 exam every 12 months for members age 22 to age 65; 1 exam every 12 months for adults age 65 and older. Routine Well Child Exams/Immunizations Covered 100%; deductible waived 20%; after deductible 7 exams in the first 12 months of life, 3 exams in the second 12 months of life, 3 exams in the third 12 months of life, 1 exam per year thereafter to age 22. Routine Gynecological Care Exams Covered 100%; deductible waived 20%; after deductible Recommended: One exam per calendar year. Includes routine tests and related lab fees. Routine Mammograms Covered 100%; deductible waived 20%; after deductible Recommended: One baseline mammogram for covered females age 35-39, one mammogram per calendar year for covered females age 40 and over. Women's Health Covered 100%; deductible waived 20%; after deductible Includes: Screening for gestational diabetes, HPV (Human- Papillomavirus) DNA testing, counseling for sexually transmitted infections, counseling and screening for human immunodeficiency virus, screening and counseling for interpersonal and domestic violence, breastfeeding support, supplies and counseling.
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Contraceptive methods, sterilization procedures, patient education and counseling. Limitations may apply. Routine Digital Rectal Exam Covered 100%; deductible waived 20%; after deductible Prostate-specific Antigen Test Covered 100%; deductible waived 20%; after deductible Colorectal Cancer Screening Covered under Routine Adult Exams Covered under Routine Adult Exams Recommended: For all members age 50 and over. Routine Eye Exams Covered 100%; deductible waived Not Covered 1 routine exam per 24 months. Routine Hearing Exams Not Covered Not Covered Routine Hearing Screening Covered 100%; deductible waived 20%; after deductible PHYSICIAN SERVICES IN-NETWORK OUT-OF-NETWORK Office Visits to non-Specialist $40 office visit copay; deductible waived 20%; after deductible Includes services of an internist, general physician, family practitioner or pediatrician. Specialist Office Visits $40 office visit copay; deductible waived 20%; after deductible Pre-Natal Maternity Covered 100%; deductible waived Covered according to standard claim practice. E-visit to Non-Specialist Not Covered Not Covered An E-visit is an online internet consultation between a physician and an established patient about a non-emergency healthcare matter. This visit must be conducted through our authorized internet E-visit service vendor. E-visit to Specialist Not Covered Not Covered An E-visit is an online internet consultation between a physician and an established patient about a non-emergency healthcare matter. This visit must be conducted through our authorized internet E-visit service vendor. Walk-in Clinics $40 office visit copay; deductible waived 20%; after deductible Walk-in Clinics are network, free-standing health care facilities. They are an alternative to a physician's office visit for treatment of unscheduled, non-emergency illnesses and injuries and the administration of certain immunizations. It is not an alternative for emergency room services or the ongoing care provided by a physician. Neither an emergency room, nor the outpatient department of a hospital, shall be considered a Walk-in Clinic. Allergy Testing Member cost sharing is based on the type of service performed and the place of service where it is rendered; deductible waived Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Allergy Injections Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible DIAGNOSTIC PROCEDURES IN-NETWORK OUT-OF-NETWORK Diagnostic X-ray Covered 100%; after deductible 20%; after deductible If performed as a part of a physician office visit and billed by the physician, expenses are covered subject to the applicable physician's office visit member cost sharing. Diagnostic Laboratory Covered 100%; after deductible 20%; after deductible If performed as a part of a physician office visit and billed by the physician, expenses are covered subject to the applicable physician's office visit member cost sharing. Diagnostic Outpatient Complex Imaging Covered 100%; after deductible 20%; after deductible EMERGENCY MEDICAL CARE IN-NETWORK OUT-OF-NETWORK Urgent Care Provider $50 copay; deductible waived 20%; after deductible Non-Urgent Use of Urgent Care Provider Not Covered Not Covered
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Emergency Room $150 copay; deductible waived Same as preferred care Non-Emergency Care in an Emergency Room Not Covered Not Covered Emergency Use of Ambulance $100 copay; after deductible $100 copay; after deductible Non-Emergency Use of Ambulance Not Covered Not Covered HOSPITAL CARE IN-NETWORK OUT-OF-NETWORK Inpatient Coverage Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Inpatient Maternity Coverage (includes delivery and postpartum care) Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Outpatient Hospital Expenses Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. Outpatient Surgery Covered 100% 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. Outpatient Surgery - Freestanding Facility Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. MENTAL HEALTH SERVICES IN-NETWORK OUT-OF-NETWORK Inpatient Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Outpatient $40 copay; deductible waived 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. ALCOHOL/DRUG ABUSE SERVICES IN-NETWORK OUT-OF-NETWORK Inpatient Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Residential Treatment Facility Covered 100%; after deductible 20%; after deductible Treatment Facility Covered 100%; after deductible 20%; after deductible Outpatient $40 copay; deductible waived 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. OTHER SERVICES IN-NETWORK OUT-OF-NETWORK Convalescent Facility Covered 100%; after deductible 20%; after deductible Limited to 60 days per calendar year. The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Home Health Care Covered 100%; after deductible 20%; after deductible Limited to 60 visits per calendar year. Each visit by a nurse or therapist is one visit. Each visit up to 4 hours by a home health care aide is one visit. Hospice Care - Inpatient Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. Hospice Care - Outpatient Covered 100%; after deductible 20%; after deductible The member cost sharing applies to all covered benefits incurred during a member's outpatient visit. Private Duty Nursing - Outpatient Not Covered Not Covered Outpatient Short-Term Rehabilitation $40 copay; deductible waived 20%; after deductible Includes Speech, Physical, and Occupational Therapy, limited to 60 visits per calendar year. Spinal Manipulation Therapy $40 copay; deductible waived 20%; after deductible Limited to 20 visits per calendar year.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
Prepared: 09/25/2014 03:23 PM Page 4
Autism Behavioral Therapy $40 copay; deductible waived 20%; after deductible Covered same as any other Outpatient Mental Health benefit Autism Applied Behavior Analysis $40 copay; deductible waived 20%; after deductible Covered same as any other Outpatient Mental Health benefit with no age or visit limitations. Autism Physical Therapy $40 copay; deductible waived 20%; after deductible Visits combined with Short Term Rehabilitation. Autism Occupational Therapy $40 copay; deductible waived 20%; after deductible Visits combined with Short Term Rehabilitation. Autism Speech Therapy $40 copay; deductible waived 20%; after deductible Visits combined with Short Term Rehabilitation. Durable Medical Equipment Covered 100%; after deductible 20%; after deductible Diabetic Supplies -- (if not covered under Pharmacy benefit) Covered same as any other medical expense. Covered same as any other medical expense. Generic FDA-approved Women's Contraceptives Covered 100%; deductible waived Not Covered Contraceptive drugs and devices not obtainable at a pharmacy Covered 100%; deductible waived Covered same as any other medical expense. Transplants Covered 100%; after deductible 20%; after deductible Preferred coverage is provided at an IOE contracted facility only. Non-Preferred coverage is provided at a Non-IOE facility. Bariatric Surgery Not Covered Not Covered The member cost sharing applies to all covered benefits incurred during a member's inpatient stay. "Other" Health Care -- 20% member coinsurance after the preferred (per calendar year) deductible for services that are neither "preferred" nor "non-preferred". FAMILY PLANNING IN-NETWORK OUT-OF-NETWORK Infertility Treatment Member cost sharing is based on the type of service performed and the place of service where it is rendered Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Diagnosis and treatment of the underlying medical condition. Comprehensive Infertility Services Not Covered Not Covered Advanced Reproductive Technology (ART) Not Covered Not Covered Vasectomy Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible. Tubal Ligation Covered 100%; deductible waived Member cost sharing is based on the type of service performed and the place of service where it is rendered; after deductible. Voluntary Abortion Not Covered Not Covered PHARMACY IN-NETWORK OUT-OF-NETWORK Pharmacy Plan Type Open Formulary; with mid year changes Retail $15 copay for generic drugs, $35 copay for formulary brand-name drugs, and $60 copay for non-formulary brand-name drugs up to a 30 day supply at participating pharmacies. 20% of submitted cost after the applicable preferred copay
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Mail Order $30 copay for generic drugs, $70 copay for formulary brand-name drugs, and $120 copay for non-formulary brand-name drugs up to a 31-90 day supply from Aetna Rx Home Delivery®.
Not Applicable
Aetna Specialty CareRx First prescription fill at any retail drug facility. Subsequent fills must be through Aetna Specialty Pharmacy®. Choose Generics - If the member or the physician requests brand when generic is available, the member pays the applicable copay plus the difference between the generic price and the brand price. Plan Includes: Diabetic supplies and Contraceptive drugs and devices obtainable from a pharmacy. Oral and injectable fertility drugs included (physician charges for injections are not covered under RX, medical coverage is limited). Precert for growth hormones included. Expanded Precert included with 90 day Transition of Care. Formulary Generic FDA-approved Women's Contraceptives and certain over-the-counter preventive medications covered 100% in network. GENERAL PROVISIONS Dependents Eligibility Spouse, children from birth to age 26 regardless of student status. Pre-existing Conditions Exclusion On effective date: Waived After effective date: Waived
**We cover the cost of services based on whether doctors are "in network" or "out of network." We want to help you understand how much we pay for your out-of-network care. At the same time, we want to make it clear how much more you will need to pay for this "out-of-network" care.
You may choose a provider (doctor or hospital) in our network. You may choose to visit an out-of-network provider. If you choose a doctor who is out of network, your health plan may pay some of that doctor's bill. Most of the time, you will pay a lot more money out of your own pocket if you choose to use an out-of-network doctor or hospital.
When you choose out-of-network care, we limit the amount it will pay. This limit is called the "recognized" or "allowed" amount.
• For doctors and other professionals the amount is based on what Medicare pays for these services. The government sets the Medicare rate. Exactly how much we "recognize" depends on the plan you or your employer picks.
• For hospitals and other facilities, the amount is based on what Medicare pays for these services. The government sets the Medicare rate. Exactly how much we "recognize" depends on the plan you or your employer picks.
Your doctor sets his or her own rate to charge you. It may be higher -- sometimes much higher -- than what your plan "recognizes." Your doctor may bill you for the dollar amount that we don't "recognize." You must also pay any copayments, coinsurance and deductibles under your plan. No dollar amount above the "recognized charge" counts toward your deductible or out-of-pocket maximums. To learn more about how we pay out-of-network benefits visit our website.
You can avoid these extra costs by getting your care from Aetna's broad network of health care providers. Go to www.aetna.com and click on "Find a Doctor" on the left side of the page. If you are already a member, sign on to your Navigator member site.
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This applies when you choose to get care out of network. When you have no choice (for example: emergency room visit after a car accident, or for other emergency services), we will pay the bill as if you got care in network. You pay cost sharing and deductibles for your in-network level of benefits. Contact us if your provider asks you to pay more. You are not responsible for any outstanding balance billed by your providers for emergency services beyond your cost sharing and deductibles.
This way of paying out-of-network doctors and hospitals applies when you choose to get care out of network. When you have no choice (for example: emergency room visit after a car accident), we will pay the bill as if you got care in network. You pay your plan's copayments, coinsurance and deductibles for your in-network level of benefits. Contact us if your provider asks you to pay more. You are not responsible for any outstanding balance billed by your providers for emergency services beyond your copayments, coinsurance and deductibles.
Plans are provided by: Aetna Life Insurance Company. While this material is believed to be accurate as of the production date, it is subject to change.
Health benefits and health insurance plans contain exclusions and limitations. Not all health services are covered.
See plan documents for a complete description of benefits, exclusions, limitations and conditions of coverage. Plan features and availability may vary by location and are subject to change. You may be responsible for the health care provider's full charges for any non-covered services, including circumstances where you have exceeded a benefit limit contained in the plan. Providers are independent contractors and are not our agents. Provider participation may change without notice. We do not provide care or guarantee access to health services.
The following is a list of services and supplies that are generally not covered. However, your plan documents may contain exceptions to this list based on state mandates or the plan design or rider(s) purchased by your employer.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
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• All medical and hospital services not specifically covered in, or which are limited or excluded by your plan documents. • Cosmetic surgery, including breast reduction. • Custodial care. • Dental care and dental X-rays. • Donor egg retrieval. • Durable medical Equipment • Experimental and investigational procedures, except for coverage for medically necessary routine patient care costs for members participating in a cancer clinical trial. • Hearing aids • Home births • Immunizations for travel or work, except where medically necessary or indicated. • Implantable drugs and certain injectable drugs including injectable infertility drugs. • Infertility services, including artificial insemination and advanced reproductive technologies such as IVF, ZIFT, GIFT, ICSI and other related services, unless specifically listed as covered in your plan documents. • Long-term rehabilitation therapy. • Non-medically necessary services or supplies. • Orthotics except diabetic orthotics. • Outpatient prescription drugs (except for treatment of diabetes), unless covered by a prescription plan rider and over-the-counter medications (except as provided in a hospital) and supplies. • Radial keratotomy or related procedures. • Reversal of sterilization. • Services for the treatment of sexual dysfunction or inadequacies, including therapy, supplies or counseling or prescription drugs. • Special duty nursing. • Therapy or rehabilitation other than those listed as covered. • Treatment of behavioral disorders. • Weight control services including surgical procedures, medical treatments, weight control/loss programs, dietary regimens and supplements, appetite suppressants and other medications; food or food supplements, exercise programs, exercise or other equipment; and other services and supplies that are primarily intended to control weight or treat obesity, including Morbid Obesity, or for the purpose of weight reduction, regardless of the existence of comorbid conditions.
Aetna receives rebates from drug manufacturers that may be taken into account in determining Aetna's Preferred Drug List. Rebates do not reduce the amount a member pays the pharmacy for covered prescriptions. Aetna Rx Home Delivery refers to Aetna Rx Home Delivery, LLC, a licensed pharmacy subsidiary of Aetna Inc., that operates through mail order. The charges that Aetna negotiates with Aetna Rx Home Delivery may be higher than the cost they pay for the drugs and the cost of the mail order pharmacy services they provide. For these purposes, the pharmacy's cost of purchasing drugs takes into account discounts, credits and other amounts that they may receive from wholesalers, manufacturers, suppliers and distributors.
In case of emergency, call 911 or your local emergency hotline, or go directly to an emergency care facility.
Translation of the material into another language may be available. Please call Member Services at 1-888-982-3862.
Puede estar disponible la traduccion de este material en otro idioma. Por favor llame a Servicios al Miembro al 1-888-982-3862.
Plan features and availability may vary by location and group size.
For more information about Aetna plans, refer to www.aetna.com.
The Romine Group Proposed Effective Date: 01-01-2015 Open Choice® (PPO) - Michigan
PLAN DESIGN & BENEFITS PROVIDED BY AETNA LIFE INSURANCE COMPANY
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© 2014 Aetna Inc.
version 2-14 Date Printed: 10-14-2014
Effective Date: 01-01-2015 Plan 19a External Plan ID 9849662419 Line Value 366 12 12 12 Exam Aetna Vision Network
Routine/Comprehensive Eye Exam $10 Copay $25 Reimbursement Standard Contact Lens Fit/Follow-up Member pays discounted fee of $40 Not Covered Premium Contact Lens Fit/Follow-up Member pays 90% of retail Not Covered
Single vision lenses $10 Copay $20 Reimbursement Bifocal vision lenses $10 Copay $40 Reimbursement Trifocal vision lenses $10 Copay $65 Reimbursement Lenticular vision lenses $10 Copay $65 Reimbursement Standard Progressive vision lenses $75 Copay $40 Reimbursement
Premium Progressive vision lenses1
20% Discount off retail minus $120 plan allowance plus $75 Copay = member out-of-pocket
$40 Reimbursement
UV treatment Member pays discounted fee of $15 Not Covered Tint (Solid and Gradient) Member pays discounted fee of $15 Not Covered Standard plastic scratch coating $0 Copay $15 Reimbursement Standard polycarbonate lenses - Adult Member pays discounted fee of $40 Not Covered Standard polycarbonate lenses - Children to age 19 $0 Copay $35 Reimbursement Standard anti-reflective coating Member pays discounted fee of $45 Not Covered Polarized Member pays 80% of retail Not Covered
Conventional contact lenses $130 Allowance** Additional 15% off balance over allowance
$90 Reimbursement Disposable contact lenses $130 Allowance $90 Reimbursement Medically necessary contact lenses $0 Copay $200 Reimbursement
Any Frame available, including frames for prescription sunglasses
$130 allowance Additional 20% off balance over allowance
$65 Reimbursement
Additional pairs of eyeglasses or prescription sunglasses. Discount applies to purchases made after the plan allowances have been exhausted.
Up to a 40% Discount No Discount
Non-covered items such as cleaning cloths and contact lens solution2 20% Discount No Discount Lasik Laser vision correction or PRK from U.S. Laser Network3 only. Call 1-800-422-6600 15% discount off retail or 5% discount off the promotional price No Discount Retinal Imaging4 Member pays a discounted fee up to $39 No Discount
Replacement contact lenses
Receive significant savings after your lens benefit has been exhausted on replacement contacts by ordering online. Visit www.aetnavision.com for details
No Discount
Quality health plans & benefits Healthier living Financial well-being Intelligent solutions Aetna VisionSM Preferred visit www.aetnavision.com
In Network Out of Network* Summary of Benefits for The Romine Group
Use your Lens coverage once every rolling 12 months to purchase either 1 pair of eyeglass lenses OR 1 order of contact lenses
Use your Exam coverage once every rolling 12 months
Discounts
Eyeglass Lenses /Lens options
Contact Lenses
Use your Frame coverage once every rolling 12 months
Use your Lens coverage once every rolling 12 months to purchase either 1 pair of eyeglass lenses OR 1 order of contact lenses
Frames
Discounts cannot be combined with any other discounts or promotional offers and may not be available on all brands.
version 2-14 Date Printed: 10-14-2014
This material is for information only, and is not an offer or invitation to contract. Extraterritorial state requirements may apply to members residing in specific States. If your plan covers members in other states, impacts to your plan of benefits and rates adjustments (if any) will be evaluated and communicated to you at the point of sale.
**Allowances are one-time use benefits. No remaining balances may be used. The plan does not provide a declining balance benefit. 1Premium progressives and premium anti-reflective Brand designations are subject to annual review and change based on market conditions. Ask your eye care provider for more information. 2Non covered discounts may not be available in all states. 3Lasik or PRK from the US Laser Network, owned and operated by LCA Vision. 4Retinal Imaging available at participating locations. Contact your eyecare provider to verify if available. Vision insurance plans are underwritten by Aetna Life Insurance Company (Aetna). Certain claims administration services are provided by First American Administrators, Inc. and certain network administration services are provided through EyeMed Vision Care (“EyeMed”), LLC. Providers participating in the Aetna Vision network are contracted through EyeMed Vision Care, LLC. EyeMed and Aetna are independent contractors and not employees or agents of each other. Participating vision providers are credentialed by and subject to the credentialing requirements of EyeMed. Aetna does not provide medical/vision care or treatment and is not responsible for outcomes. Aetna does not guarantee access to vision care services or access to specific vision care providers and provider network composition is subject to change without notice.
*You can choose to receive care outside the network. Simply pay for the services up front and then submit a claim form to receive an amount up to the out of network reimbursement amounts listed above. Reimbursement will not exceed the providers actual charge. Claim forms can be found at www.aetnavision.com or by calling customer service Mon-Sun @ 877-9-SEE-AETNA. Submit completed claim form with receipts to Aetna, PO Box 8504 Mason, OH 45040-7111. Vision insurance plans contain exclusions and limitations. Not all vision services are covered. See your plan booklet for details. Partial list of Exclusions and Limitations
For Employees of The Romine Group ELIGIBILITY - ALL ELIGIBLE EMPLOYEES Eligibility Requirement You must be actively at work (able to perform all normal duties of your job) to be eligible for coverage. Dependent Eligibility Requirement To be eligible for coverage, your dependents must be able to perform normal activities and not be confined (at home, in a hospital, or in any other care facility). Minimum Work Hours You must be working a minimum of30hours perweek to be eligible for coverage. Coverage Payment Your employer pays 100% of the premium for this coverage. LATE ENTRANTS WAITING PERIODS Type A Waived Type B 12 Months Type C 12 Months Orthodontia 12 Months CALENDAR YEAR DEDUCTIBLES AND MAXIMUMS PARTICIPATING PROVIDERS2 NON-PARTICIPATING PROVIDERS2* Type A Deductible Waived Waived Type B & C Deductible §Each Insured Person $0 $0 §Family 3 times Individual 3 times Individual Maximum(s) (For Each Insured Person) §Type A, B & C Combined $1,000 $1,000 §Orthodontia $1,000 (Lifetime1) $1,000 (Lifetime1) 1Reference to "Lifetime" indicates an amount that applies or is available only once while insured under this policy. 2The same expense(s) may be used to satisfy the deductibles for participating and non-participating providers. COVERED SERVICES PARTICIPATING NON-PARTICIPATING* Type A Services 100% 50% §Examination(s)/Evaluation(s) §Bitewing X-ray(s) §Other X-ray(s) §Fluoride Treatment(s) §Cleaning(s) (Prophylaxis) §Sealant(s) §Space Maintainer(s) (Including Recementation) §Emergency Treatment §Brush Biopsy/Cancer Screening Type B Services 75% 50% §Periodontal Maintenance (Following Active Periodontal Treatment) §Filling(s) §Stainless Steel Crowns §Extraction(s) §Oral Surgery §General Anesthesia or Intravenous (I.V.) Sedation §Endodontics §Periodontics §Repair of Removable Dentures §Adjustments, Tissue Conditioning, Rebasing or Relining of Removable Dentures §Repair and Re-Cementation of Bridges §Crowns, Inlays, Onlays §Repair and Re-cementation of Cast Crowns/Inlays/Onlays
COVERED SERVICES (CONTINUED) PARTICIPATING NON-PARTICIPATING* Type C Services 50% 50% §Full or Partial Removable Dentures §Bridgework (Fixed Dentures) §Endosteal Implant(s) Orthodontia §Available for dependent children 50% 40% The plan pays the percentage shown after the deductible is satisfied, up to the maximum. Additional information about the benefits and covered services of this plan will be included in the certificate booklet, which you will receive after enrolling for this coverage. Please contact your employer or benefits administrator if you have questions prior to enrolling. This plan provides different coverage levels for participating and non-participating providers. By using a participating provider, plan members will save more through the predetermined fee arrangement and better benefit coverage. *The Maximum Allowance for non-participating providers is based on the 90th percentile of prevailing fee data for the geographical area. Charges that exceed the Maximum Allowance (as defined in the certificate booklet) for any covered dental service are not considered. LIMITATIONS AND EXCLUSIONS Information about the limitations and exceptions for this plan will be included in the certificate booklet, which you will receive after enrolling for this coverage. Please contact your employer or benefits administrator if you have any questions prior to enrolling. This information describes some of the features of the benefits plan. Benefits may not be available in all states. Please refer to the certificate booklet for a full explanation of the plan's benefits, exclusions and limitations. Should there be any discrepancy between the certificate booklet and this outline, the certificate booklet will prevail. Dental insurance is underwritten by Mutual of Omaha Insurance Company or United of Omaha Life Insurance Company. Mutual of Omaha Insurance Company is licensed in all 50 states. United of Omaha Life Insurance Company is licensed in all states but New York. In New York, Mutual of Omaha Insurance Company underwrites the plan. Policy Form Number 7000GM-MU-EZ 2001.
(Date - Check - Vendor - Amount)
07/01/2014 730 Delta Holdings, LLC -77,260.80 07/09/2014 731 Flint Children's Museum -216.00 07/09/2014 732 Sonitrol Tri-County -393.00 07/09/2014 733 Sunbelt Staffing -3,960.00 07/09/2014 )734 Goyette Mechanical -6,857.07 07/09/2014 735 Ewing & Associates -1,500.00 07/09/2014 736 Dihydro Services -426.00 07/09/2014 737 MLive Media Group -44.08 07/09/2014 738 Mt Morris Township -1,472.30 07/09/2014 739 Raptor -480.00 07/09/2014 740 Purchase Power -35.14 07/09/2014 741 Comcast -512.31 07/09/2014 742 Orkin Pest Control -147.00 07/09/2014 743 Consumers Energy -11,114.03 07/09/2014 744 Waste Management -461.55 07/09/2014 745 Will Kneer -100.00 07/10/2014 746 Howey & Associates Inc -928.64 07/10/2014 747 The Romine Group -70,000.00 07/23/2014 748 Mutual of Omaha 0.00 07/23/2014 749 Blue Cross Blue Shield 0.00 07/23/2014 750 Blue Cross Blue Shield 0.00 07/23/2014 748 Blue Cross Blue Shield -23,453.44 07/23/2014 749 Mutual of Omaha -1,568.00 07/23/2014 750 Blue Cross Blue Shield -14,041.35 07/28/2014 751 The Romine Group -70,000.00 07/29/2014 752 Genesee Area Focus Fund Youth Quest -20,000.00 07/31/2014 753 The Romine Group -23,514.44 08/06/2014 754 The Romine Group -40,968.45 08/06/2014 755 Delta Holdings, LLC -78,385.15 08/07/2014 756 Howey & Associates Inc -2,706.00 08/07/2014 757 Sunbelt Staffing -3,960.00 08/07/2014 758 Goyette Mechanical -2,876.95 08/07/2014 759 Central Michigan Paper -277.50 08/07/2014 760 School Outfitters -405.31 08/07/2014 761 City of Flint -2,418.02 08/07/2014 762 The Detroit Institute for Children -3,456.00 08/07/2014 763 CITI Building Services -14,950.00 08/07/2014 764 Dihydro Services -426.00 08/07/2014 765 Julius J. Cicchini -10,632.00 08/07/2014 766 The Romine Group -70,000.00 08/07/2014 767 Purchase Power -139.78 08/07/2014 768 Comcast -502.56 08/07/2014 769 Mt Morris Township -1,543.26 08/07/2014 770 Consumers Energy -10,643.57 08/11/2014 771 T3 Promotions -225.00 08/11/2014 772 Funtastic Inflatables -560.00 08/14/2014 773 Delta Holdings, LLC -78,151.68 08/18/2014 774 Wal-Mart -300.00 08/18/2014 775 A-Frame Awards -270.00 08/18/2014 776 Raphael Woods -150.00 08/18/2014 777 Sam's Club -600.00 08/18/2014 778 Marshall Green -632.00 08/26/2014 779 Mutual of Omaha -1,568.00 08/26/2014 780 Blue Cross Blue Shield -16,016.92 08/26/2014 781 The Romine Group -70,000.00 08/26/2014 782 Blue Cross Blue Shield -25,996.84 08/27/2014 783 Genesee Area Focus Fund Youth Quest -6,144.75 08/28/2014 784 City of Flint -1,853.19 Page 1 of 7 09/04/2014 785 Armstrong Inc. -6,000.00
The New Standard Bill Payment List July 2014 - June 2015
11-2-101-AAAA-0001 Operating Account
09/04/2014 786 CJ's Catering and Food Service -28,008.50 09/04/2014 787 Applied Imaging -1,218.65 09/04/2014 788 Julius J. Cicchini -10,632.00 09/04/2014 789 Staples Advantage -144.86 09/11/2014 790 CITI Building Services -12,450.00 09/11/2014 791 The Romine Group -70,000.00 09/11/2014 792 Delta Holdings, LLC -155,409.41 09/11/2014 793 CJ's Catering and Food Service -24,625.45 09/11/2014 794 Howey & Associates Inc -1,986.60 09/19/2014 795 Global Bus Systems -16,000.00 09/25/2014 796 Mutual of Omaha -1,531.60 09/25/2014 797 Consumers Energy -9,085.31 09/25/2014 798 City of Flint -1,773.25 09/25/2014 799 Blue Cross Blue Shield -12,338.60 09/25/2014 800 Mt Morris Township -1,552.26 09/25/2014 801 Blue Cross Blue Shield -8,558.66 09/25/2014 802 State of Michigan -60.00 09/29/2014 803 The Romine Group -70,000.00 10/02/2014 804 Charter Technologies -12,473.50 10/02/2014 805 Charter Technologies -10,427.50 10/03/2014 Wire 100314 Waste Management -930.34 10/13/2014 806 Global Bus Systems -16,000.00 10/13/2014 807 Armstrong Inc. -3,000.00 10/13/2014 808 City of Flint -3,372.05 10/13/2014 809 Julius J. Cicchini -10,632.00 10/13/2014 810 Consumers Energy -10,792.25 10/13/2014 811 Comcast -528.54 10/13/2014 812 Mt Morris Township -1,756.99 10/14/2014 813 The Romine Group -80,000.00 10/21/2014 814 School Ties Inc -245.00 10/22/2014 815 Croskey Lanni, PC -6,151.78 10/22/2014 816 CJ's Catering and Food Service -30,430.02 10/22/2014 817 Applied Imaging -1,964.98 10/22/2014 818 Goyette Mechanical -855.61 10/22/2014 819 Flint Glass Service -612.40 10/22/2014 820 Houghton Mifflin -9,725.97 10/22/2014 821 Brave Sales & Service LLC -1,240.00 10/22/2014 822 BMI Educational Services -1,128.12 10/22/2014 823 Howey & Associates Inc -1,628.00 10/22/2014 824 B & D Elevator Services -435.00 10/22/2014 825 CITI Building Services -14,600.00 10/22/2014 826 Dihydro Services -426.00 10/22/2014 827 Compass Painting -35,800.00 10/22/2014 828 AB Lock and Safe -102.68 10/22/2014 829 Central Michigan Paper -555.00 10/22/2014 830 Global Bus Systems -450.00 10/22/2014 831 Dream Travel Solutions -250.00 10/22/2014 832 MLive Media Group -45.70 10/22/2014 833 Orkin Pest Control -441.00 10/22/2014 834 School Nurse Supply Inc -1,285.39 10/22/2014 835 Purchase Power -207.44 10/22/2014 836 Sonitrol Tri-County -919.50 10/22/2014 837 School Outfitters -5,723.74 10/22/2014 838 Servpro -100.00 10/22/2014 839 Scantron Corporation -6,752.00 10/22/2014 840 Pearson Education Inc -10,629.11 10/22/2014 841 Patti Rodenbo -97.39 10/22/2014 842 NCS Pearson INC -2,650.00 10/22/2014 843 McGraw-Hill School Education Holdings -13,080.37 10/22/2014 844 WFLT -1,680.00 10/22/2014 845 Waste Management -487.69 10/22/2014 846 Thomas Louks 0.00 10/22/2014 847 B'S Lawn Care and Snow Removal -5,500.00 10/22/2014 848 Spicer Orchards -357.00 10/27/2014 849 State of Michigan -180.00 Page 2 of 7 10/27/2014 850 Mutual of Omaha -1,121.88
10/27/2014 851 Blue Cross Blue Shield -20,985.93 10/27/2014 852 State of Michigan -280.00 10/27/2014 853 Blue Cross Blue Shield -17,148.79 10/27/2014 854 The Romine Group -80,000.00 10/29/2014 855 Genesee Intermediate School District -25,612.08 10/29/2014 856 CJ's Catering and Food Service -21,835.20 10/29/2014 857 Purchase Power -41.75 10/29/2014 858 Sunbelt Staffing -3,303.84 10/29/2014 859 Global Bus Systems -32,000.00 10/29/2014 860 Armstrong Inc. -3,000.00 10/29/2014 861 Applied Imaging -900.77 10/29/2014 862 CITI Building Services -14,600.00 10/29/2014 863 The Detroit Institute for Children -4,844.40 10/29/2014 864 Schultz-Mullins Psychological and Educational Services -515.00 10/29/2014 865 Julius J. Cicchini -10,632.00 10/29/2014 866 School Outfitters -7,563.77 11/06/2014 870 Jenee Price -29.23 11/06/2014 871 Comcast -537.31 11/06/2014 872 Consumers Energy -9,769.41 11/06/2014 873 Mt Morris Township -1,811.44 11/12/2014 867 Cynthia Bockart -625.00 11/13/2014 868 The Romine Group -80,000.00 11/13/2014 869 The Romine Group -15,708.22 11/20/2014 874 Mutual of Omaha -1,947.14 11/20/2014 875 Waste Management -561.03 11/20/2014 876 Teacher Direct -407.25 11/26/2014 877 The Romine Group -80,000.00 11/26/2014 878 Global Bus Systems -32,000.00 11/26/2014 879 Blue Cross Blue Shield -21,106.66 11/26/2014 880 Blue Cross Blue Shield -19,401.00 11/28/2014 881 Howey & Associates Inc -1,810.00 11/28/2014 882 The Romine Group -77,340.48 12/03/2014 883 Charter Technologies -36,412.28 12/03/2014 884 Dickinson Wright PLLC -3,761.08 12/03/2014 885 Goyette Mechanical -5,976.79 12/03/2014 886 Dihydro Services -852.00 12/03/2014 887 Leitgeb's -161.75 12/03/2014 888 Global Bus Systems -225.00 12/03/2014 889 CJ's Catering and Food Service -43,506.19 12/03/2014 890 Orkin Pest Control -147.00 12/03/2014 891 Armstrong Inc. -3,000.00 12/03/2014 892 City of Flint -3,018.03 12/03/2014 893 Applied Imaging -1,634.58 12/03/2014 894 CITI Building Services -14,600.00 12/03/2014 895 Julius J. Cicchini -10,632.00 12/03/2014 896 Mutual of Omaha -1,629.98 12/03/2014 897 School Outfitters -652.29 12/03/2014 898 Mt Morris Township -1,871.76 12/03/2014 899 Consumers Energy -11,273.96 12/03/2014 900 Wayne RESA -250.00 12/03/2014 901 Sunbelt Staffing -3,888.90 12/03/2014 902 The Detroit Institute for Children -5,725.20 12/03/2014 903 Schultz-Mullins Psychological and Educational Services -2,060.00 11/19/2014 DC 111914 Staples.com -33.85 11/20/2014 DC 112014 Staples.com -15.45 12/11/2014 904 Delta Holdings, LLC -79,971.84 12/11/2014 905 Delta Holdings, LLC -95,582.68 12/12/2014 906 The Romine Group -87,000.00 12/15/2014 907 Ken Barg -200.00 12/18/2014 908 Comcast -534.68 12/18/2014 909 Consumers Energy -6,714.24 12/18/2014 910 Waste Management -527.12 12/18/2014 911 Yvonne Royster -213.02 12/18/2014 912 Environmental Consulting Solutions, LLC -1,400.00 12/11/2014 DC 121114 Amazon.com -322.75 Page 3 of 7 12/26/2014 915 Aetna, Inc. 0.00
12/26/2014 916 The Romine Group -87,000.00 12/26/2014 917 Mutual of Omaha Dental -1,986.79 12/26/2014 913 CITI Building Services -14,600.00 12/30/2014 918 Dihydro Services -852.00 12/30/2014 919 Central Michigan Paper -610.50 12/30/2014 920 Armstrong Inc. -3,000.00 12/30/2014 921 City of Flint -5,659.20 12/30/2014 922 ULine -302.41 12/30/2014 923 Staples Advantage -6,772.35 12/30/2014 924 Sunbelt Staffing -4,810.58 12/26/2014 914 Global Bus Systems -32,000.00 12/30/2014 925 Howey & Associates Inc -900.00 12/30/2014 926 CJ's Catering and Food Service -48,293.32 01/09/2015 938 Dickinson Wright PLLC -2,143.60 01/09/2015 939 Lakeshore Learning -1,225.25 01/09/2015 940 Pearson Education Inc -2,985.98 01/09/2015 941 Houghton Mifflin -6,511.71 01/09/2015 927 Purchase Power -514.52 01/09/2015 928 School Outfitters -5,810.28 01/09/2015 942 Goyette Mechanical -609.44 01/09/2015 929 Applied Imaging -1,055.60 01/09/2015 930 Julius J. Cicchini -10,632.00 01/09/2015 931 Armstrong Inc. -3,000.00 01/09/2015 943 Central Michigan Paper -333.00 01/09/2015 932 Orkin Pest Control -147.00 01/09/2015 933 Mt Morris Township -1,799.76 01/09/2015 934 Consumers Energy -11,394.48 01/09/2015 944 School Specialty -4,246.89 01/09/2015 945 Sonitrol Tri-County -587.00 01/09/2015 935 The Detroit Institute for Children -5,284.80 01/09/2015 936 Delta Holdings, LLC -80,152.56 01/09/2015 937 Sunbelt Staffing -1,699.78 01/14/2015 946 The Romine Group -88,000.00 01/14/2015 947 The Romine Group -65,392.02 01/15/2015 948 Joddi Mills -56.25 01/19/2015 949 Howey & Associates Inc -901.00 01/20/2015 950 School Ties Inc -1,290.50 01/21/2015 951 Dickinson Wright PLLC -20.00 01/21/2015 952 Croskey Lanni, PC -1,192.00 01/21/2015 953 Computer logic Group -2,000.00 01/21/2015 954 Waste Management -918.72 01/21/2015 955 AB Lock and Safe -245.78 01/21/2015 956 Comcast -534.68 01/21/2015 957 The Detroit Institute for Children -4,404.00 01/21/2015 958 Consumers Energy -8,929.75 01/27/2015 959 The Romine Group -88,000.00 01/28/2015 960 Aetna, Inc. -32,372.62 01/28/2015 961 Aetna, Inc. -33,149.29 01/29/2015 962 CITI Building Services -14,600.00 01/30/2015 963 Global Bus Systems -32,000.00 02/02/2015 964 The Romine Group -37,883.68 02/02/2015 965 Delta Holdings, LLC -87,967.68 02/09/2015 966 VanEerden Foodservice -486.58 02/11/2015 968 Comcast -541.41 02/11/2015 967 Marty Lathrop -936.11 02/12/2015 969 The Romine Group -37,761.66 02/12/2015 970 The Romine Group -93,000.00 02/12/2015 971 CJ's Catering and Food Service -38,893.90 02/18/2015 wire02182015 Consumers Energy -10,026.44 02/20/2015 972 School Specialty -296.54 02/20/2015 973 Genesee Intermediate School District -105.00 02/20/2015 974 Leitgeb's -355.56 02/20/2015 975 Delta Holdings, LLC -24,424.00 02/20/2015 976 Orkin Pest Control -147.00 02/20/2015 977 Cynthia Bockart -625.00 Page 4 of 7 02/20/2015 978 Julius J. Cicchini -10,632.00
02/20/2015 979 Mt Morris Township -1,552.26 02/20/2015 980 Purchase Power -231.37 02/20/2015 981 Schultz-Mullins Psychological and Educational Services -515.00 02/20/2015 982 Goyette Mechanical -6,881.81 02/20/2015 983 Applied Imaging -1,934.01 02/20/2015 984 Staples Advantage -114.28 02/20/2015 985 Howey & Associates Inc -901.00 02/20/2015 986 Steel Equipment Company -6,300.00 02/20/2015 987 AB Lock and Safe -103.04 02/20/2015 988 Armstrong Inc. -3,000.00 02/20/2015 989 Consumers Energy -11,814.60 02/20/2015 990 Central Michigan Paper -327.00 02/20/2015 991 Sunbelt Staffing -4,582.80 02/26/2015 992 The Romine Group -93,000.00 02/27/2015 993 CITI Building Services -14,900.00 02/27/2015 994 Global Bus Systems -32,000.00 03/01/2015 995 Aetna, Inc. -32,092.77 03/02/2015 996 The Romine Group -35,449.47 03/12/2015 1001 The Romine Group -99,582.07 03/13/2015 1002 Waste Management -1,020.01 03/13/2015 1003 Jenna Darnell -172.73 03/13/2015 1004 American Sewer Cleaners -135.00 03/13/2015 1005 CJ's Catering and Food Service -32,333.37 03/13/2015 1006 The Detroit Institute for Children -3,743.40 03/13/2015 1007 City of Flint -1,796.09 03/13/2015 1008 Julius J. Cicchini -10,632.00 03/13/2015 1009 Armstrong Inc. -3,333.33 03/13/2015 1010 Consumers Energy -20,597.41 03/13/2015 1011 Howey & Associates Inc -902.00 03/02/2015 998 Mutual of Omaha -1,656.81 03/02/2015 999 Mutual of Omaha -4,050.79 03/02/2015 1000 Mutual of Omaha -4,306.82 03/20/2015 1012 Genesee Intermediate School District -15.00 03/20/2015 1013 Comcast -541.41 03/20/2015 1014 Mt Morris Township -1,707.49 03/20/2015 1015 City of Flint -2,104.43 03/02/2015 997 Delta Holdings, LLC -84,942.56 03/27/2015 1016 The Romine Group -93,000.00 03/27/2015 1017 Kent Intermediate School District -899.44 03/27/2015 1018 School Ties Inc -263.00 03/27/2015 1019 Staples Advantage -790.92 03/27/2015 1020 Dihydro Services -426.00 03/27/2015 1021 Orkin Pest Control -294.00 03/27/2015 1022 School Specialty -138.99 03/27/2015 1023 On the Move Coaches -1,000.00 03/27/2015 1024 Goyette Mechanical -469.00 03/27/2015 1025 CJ's Catering and Food Service -35,133.39 03/27/2015 1026 CITI Building Services -15,175.00 03/27/2015 1027 Armstrong Inc. -3,333.33 03/27/2015 1028 Julius J. Cicchini -10,632.00 03/27/2015 1029 Sonitrol Tri-County -432.00 03/27/2015 1030 Sunbelt Staffing -7,193.62 03/27/2015 1031 The Detroit Institute for Children -4,844.40 03/04/2015 DC03042015 Amazon.com -213.19 03/03/2015 dc03032015 Amazon.com -288.05 03/31/2015 1032 The Motivational Foundation -400.00 03/31/2015 1033 Mutual of Omaha -4,193.32 03/31/2015 1034 Aetna, Inc. -33,657.52 04/01/2015 1035 Global Bus Systems -32,000.00 04/03/2015 1036 Restaurant Equippers Warehouse Stores -618.80 04/03/2015 1037 Zehnder's of Frankenmuth -200.00 04/10/2015 1038 Phillips Sign & Lighting Inc -3,714.87 04/10/2015 1039 Balfrey & Johnston Inc -1,944.75 04/10/2015 1040 Croskey Lanni, PC -199.40 04/10/2015 1041 Johnson Controls Inc -614.26 Page 5 of 7 04/10/2015 1042 Oriental Trading Company Inc. -209.61
04/10/2015 1043 Really Good Stuff Inc. -606.30 04/10/2015 1044 Consumers Energy -19,604.41 04/10/2015 1045 Purchase Power -147.26 04/10/2015 1046 Dihydro Services -426.00 04/10/2015 1047 Mt Morris Township -1,943.29 04/10/2015 1048 City of Flint -2,389.93 04/10/2015 1049 Brave Sales & Service LLC -480.00 04/10/2015 1050 Lakeshore Learning -2,534.86 04/10/2015 1051 Goyette Mechanical -2,233.92 04/10/2015 1052 Applied Imaging -291.89 04/10/2015 1053 Lane Walker -550.00 04/10/2015 1054 AB Lock and Safe -12.15 04/10/2015 1055 Orkin Pest Control -147.00 04/10/2015 1056 Staples Advantage -2,267.22 04/10/2015 1057 School Specialty 0.00 04/10/2015 1058 TIME for Kids -53.52 04/10/2015 1059 Therapro Inc -310.87 04/14/2015 1060 The Romine Group -97,436.00 04/17/2015 1061 Comcast -544.05 04/17/2015 1062 Lighted Righteous LLC -300.00 04/17/2015 1063 Boys and Girls Club of Greater Flint -337.50 04/17/2015 1064 Waste Management -912.44 04/17/2015 1065 Marie Bennett -237.75 04/17/2015 1066 Genesee County Health Dept. -538.00 04/17/2015 1067 Sally Young -159.65 04/21/2015 1068 Artie Smith -700.00 04/21/2015 1069 Artie Smith -750.00 04/24/2015 1070 Orkin Pest Control -45.00 04/24/2015 1071 Goyette Mechanical -4,542.74 04/24/2015 1072 Purchase Power -447.13 04/24/2015 1073 Really Good Stuff Inc. -346.14 04/24/2015 1074 CJ's Catering and Food Service -422.40 04/24/2015 1075 Staples Advantage -1,206.84 04/24/2015 1076 Applied Imaging -1,452.30 04/24/2015 1077 Armstrong Inc. -3,333.33 04/24/2015 1078 CITI Building Services -14,900.00 04/24/2015 1079 Sunbelt Staffing -5,524.01 04/24/2015 1080 The Detroit Institute for Children -3,743.40 04/29/2015 1081 The Romine Group -94,000.00 04/29/2015 1082 Aetna, Inc. -31,750.27 04/29/2015 1083 Mutual of Omaha -4,014.82 04/30/2015 1084 Global Bus Systems -32,000.00 05/01/2015 1085 Consumers Energy -9,684.30 05/01/2015 1086 Croskey Lanni, PC -10,000.00 05/01/2015 1087 Jenee' Price -219.97 05/01/2015 1088 Landscape Structures, Inc. -15,529.00 05/01/2015 1089 Marty Lathrop -349.73 05/01/2015 1090 Potter Park Zoological Society -25.00 05/01/2015 1091 SEA LIFE Michigan Aquarium -398.00 05/01/2015 1092 Staples Advantage -21.62 04/16/2015 DC04162015 Amazon.com -137.40 05/11/2015 1093 Consumers Energy -3,024.51 05/11/2015 1094 Marty Lathrop -45.66 05/11/2015 1095 Mt Morris Township -1,631.01 05/11/2015 1096 Potter Park Zoological Society -156.00 05/14/2015 1097 The Romine Group -90,000.00 05/27/2015 1098 The Romine Group -90,000.00 05/28/2015 1100 Brandi Fisher -238.00 05/28/2015 1101 CITI Building Services -14,900.00 05/28/2015 1102 City of Flint -2,161.53 05/28/2015 1103 CJ's Catering and Food Service -41,214.58 05/28/2015 1104 Cynthia Bockart -625.00 05/28/2015 1105 Dickinson Wright PLLC -299.00 05/28/2015 1106 Dihydro Services -426.00 05/28/2015 1107 Dream Travel Solutions -1,000.00 Page 6 of 7 05/28/2015 1108 Global Bus Systems -540.00
05/28/2015 1109 Institute for Excellence in Education -150.00 05/28/2015 1110 Julius J. Cicchini -10,632.00 05/28/2015 1111 Lighted Righteous LLC -300.00 05/28/2015 1112 MAPSA -1,809.00 05/28/2015 1113 Marty Lathrop -186.10 05/28/2015 1114 Omar Dasugi -228.12 05/28/2015 1115 Orkin Commercial Services -147.00 05/28/2015 1116 School Outfitters -3,413.91 05/28/2015 1117 School Specialty -137.35 05/28/2015 1118 Sonitrol Tri-County -155.00 05/28/2015 1119 Staples Advantage -2,010.48 05/28/2015 1120 Armstrong Inc. -3,333.33 05/29/2015 1121 B & D Elevator Services -120.00 05/29/2015 1122 Comcast -1,083.02 05/29/2015 1123 Dihydro Services -852.00 05/29/2015 1124 Global Bus Systems -32,000.00 05/29/2015 1125 Goyette Mechanical -337.00 05/29/2015 1126 Julius J. Cicchini -10,632.00 05/29/2015 1127 LEGO Education -256.64 05/29/2015 1128 Scholastic, Inc. -283.40 05/29/2015 1129 State of Michigan -120.00 05/29/2015 1130 The Detroit Institute for Children -5,284.80 05/29/2015 1131 Sunbelt Staffing -4,680.84 05/29/2015 1132 Waste Management -506.79 05/28/2015 1099 Aetna, Inc. -33,291.51 05/30/2015 1133 Mutual of Omaha -3,903.25 06/08/2015 1134 Artie Smith -1,800.00 06/08/2015 1135 CJ's Catering and Food Service -30,932.09 06/08/2015 1136 Consumers Energy -9,742.22 06/08/2015 1137 EASTBAY, INC. 0.00 06/08/2015 1138 Mt Morris Township -1,619.76 06/08/2015 1139 Omar Dasugi 0.00 06/08/2015 1140 Orkin Pest Control -166.11 06/08/2015 1141 Penchura, L.L.C. -2,936.00 06/08/2015 1142 Sunbelt Staffing -3,028.84 06/10/2015 1143 EASTBAY, INC. -1,167.20 06/11/2015 1144 The Romine Group -79,462.78 06/12/2015 1145 Delta Holdings, LLC -87,712.45 06/18/2015 1146 AB Lock and Safe -26.96 06/18/2015 1147 Applied Imaging -840.75 06/18/2015 1148 Boys and Girls Club of Greater Flint -337.50 06/18/2015 1149 City of Flint -2,127.27 06/18/2015 1150 Scholastic, Inc. -42.00 06/18/2015 1151 School Specialty -323.16 06/18/2015 1152 Sonitrol Tri-County -440.64 06/18/2015 1153 The Detroit Institute for Children -7,926.40 06/19/2015 1154 Charter Technologies -25,821.91 06/28/2015 1155 The Romine Group -84,245.70 06/29/2015 1156 The Romine Group -96,761.61 06/29/2015 1157 Global Bus Systems -32,000.00 06/29/2015 1158 CITI Building Services -14,900.00 06/29/2015 1159 Jenna Darnell -300.00 06/29/2015 1160 Staples Advantage -1,175.96 06/30/2015 1161 Mutual of Omaha -4,052.01 06/30/2015 1162 Aetna, Inc. -33,021.77 06/10/2015 DC06102015 Zehnder's of Frankenmuth -1,583.00 06/11/2015 DC061112015 Zehnder's of Frankenmuth -33.00 Page 7 of 7 06/24/2015 DC06242015 Zehnder's of Frankenmuth -1,682.00 -$ 5,619,395.58
Educational Service Provider: Operating Expenditures
School District: The New Standard Academy (25912)
Fiscal Year: 2014-2015
Educational Service Provider Operating Expenditures
Instructional Expenditures (1xx, 293) $2,109,136 81.68%
Pupil Support Services (21x) $5,856 0.23%
Instructional Staff Support Services (22x) $0 0.00%
General Administration (23x) $0 0.00%
School Administration (24x) $368,549 14.27%
Business Services (25x) $0 0.00%
Operations and Maintenance (26x) $77,765 3.01%
Transportation (27x) $0 0.00%
Central & Other Support Services (28x, 291, 292, 295, 299) $0 0.00% Total Operating Expenditures from ESP $2,561,306 99.19%
Total from ESP file $2,582,336 100.0%
Report based on district's 2015 Financial Information Database (FID) submission.
Caution should be used when using these financial data. Sound conclusions can only be drawn when the data elements are used in proper context. The ESP operational expenditure costs reported to the charts above are based on function codes as submitted to the Financial Information Database (FID). Districts are required by law (MCL 380.1281) to follow a common chart of accounts published as the Michigan Public School Accounting Manual when reporting financial data. Definitions for each of the function codes listed in the charts above may be found in the Manual available at: http://www.michigan.gov/documents/appendix_33974_7.pdf.
More district financial information can be found online at www.michigan.gov/cepi.
Educational Service Provider: Operating Expenditures
School District: The New Standard Academy (25912)
Fiscal Year: 2013-2014
Educational Service Provider Operating Expenditures
Instructional Expenditures (1xx, 293) $1,874,242 83.59%
Pupil Support Services (21x) $5,487 0.24%
Instructional Staff Support Services (22x) $0 0.00%
General Administration (23x) $0 0.00%
School Administration (24x) $293,528 13.09%
Business Services (25x) $0 0.00%
Operations and Maintenance (26x) $48,026 2.14%
Transportation (27x) $0 0.00%
Central & Other Support Services (28x, 291, 292, 295, 299) $0 0.00% Total Operating Expenditures from ESP $2,221,283 99.07%
Total from ESP file $2,242,184 100.0%
Report based on district's 2014 Financial Information Database (FID) submission.
Caution should be used when using these financial data. Sound conclusions can only be drawn when the data elements are used in proper context. The ESP operational expenditure costs reported to the charts above are based on function codes as submitted to the Financial Information Database (FID). Districts are required by law (MCL 380.1281) to follow a common chart of accounts published as the Michigan Public School Accounting Manual when reporting financial data. Definitions for each of the function codes listed in the charts above may be found in the Manual available at: http://www.michigan.gov/documents/appendix_33974_7.pdf.
More district financial information can be found online at www.michigan.gov/cepi.
Educational Service Provider: Transparency Expenditure Report
School District: The New Standard Academy (25912)
Fiscal Year: 2014-2015
Educational Service Provider Expenditures
Salaries (1xxx) $1,917,668 74.26%
Employee Benefits (2xxx) $664,668 25.74%
Rentals (42xx) $0 0.00%
Purchased Services (3xxx) $0 0.00%
Repairs & Maintenance (41xx) $0 0.00%
Supplies and Materials (5xxx) $0 0.00%
Capital Outlay (6xxx) $0 0.00%
Other Expenditures, Dues and Fees (74xx) $0 0.00%
Total from above $2,582,336 100.00%
Total expenditures reported in ESP file $2,582,336 100.0%
Report based on district's 2015 Financial Information Database (FID) submission.
Caution should be used when using these financial data. Sound conclusions can only be drawn when the data elements are used in proper context. The ESP expenditure costs reported to the charts above are based on objects codes in the ESP file as submitted to the Financial Information Database (FID). Districts are required by law (MCL 380.1281) to follow a common chart of accounts published as the Michigan Public School Accounting Manual when reporting financial data. Definitions for each of the object codes listed in the charts above may be found in the Manual available at: http://www.michigan.gov/documents/appendix_33974_7.pdf.
More district financial information can be found online at www.michigan.gov/cepi.
Educational Service Provider: Transparency Expenditure Report
School District: The New Standard Academy (25912)
Fiscal Year: 2013-2014
Educational Service Provider Expenditures
Salaries (1xxx) $1,602,816 71.48%
Employee Benefits (2xxx) $639,368 28.52%
Rentals (42xx) $0 0.00%
Purchased Services (3xxx) $0 0.00%
Repairs & Maintenance (41xx) $0 0.00%
Supplies and Materials (5xxx) $0 0.00%
Capital Outlay (6xxx) $0 0.00%
Other Expenditures, Dues and Fees (74xx) $0 0.00%
Total from above $2,242,184 100.00%
Total expenditures reported in ESP file $2,242,184 100.0%
Report based on district's 2014 Financial Information Database (FID) submission.
Caution should be used when using these financial data. Sound conclusions can only be drawn when the data elements are used in proper context. The ESP expenditure costs reported to the charts above are based on objects codes in the ESP file as submitted to the Financial Information Database (FID). Districts are required by law (MCL 380.1281) to follow a common chart of accounts published as the Michigan Public School Accounting Manual when reporting financial data. Definitions for each of the object codes listed in the charts above may be found in the Manual available at: http://www.michigan.gov/documents/appendix_33974_7.pdf.
More district financial information can be found online at www.michigan.gov/cepi.
Budget Transparency Report: Operating Expenditures
School District: The New Standard Academy (25912)
Fiscal Year: 2014-2015
Fund: General Fund (11)
Operating Expenditures Instructional Expenditures (1xx,293) $2,368,349 44.53 %
Pupil Support Services (21x) $5,856 0.11 %
Instructional Staff Support Services (22x) $17,089 0.32 %
General Administration (23x) $664,813 12.50 %
School Administration (24x) $390,861 7.35 %
Business Services (25x) $11,725 0.22 %
Operations and Maintenance (26x) $1,364,213 25.65 %
Transportation (27x) $320,000 6.02 %
Central & Other Support Services (28x, 291,292,295,299) $6,441 0.12 %
Total Current Operating Expenditures $5,149,347 96.82 %
Remaining Expenditures Community Services (3xx) $0 0.00 %
Facilities Acquisitions (45x), Debt Service (51x) and Capital Outlay $169,213 3.18 %
Other Transactions (41x-44x, 49x) $0 0.00 %
Fund Modification (6xx) $0 0.00 %
Total General Fund Expenditures $5,318,560 100.00 %
*For charting purposes, Remaining Expenditures is defined as function codes 3xx through 6xx.
Report based on district's2015 Financial Information Database (FID) submission.
Caution should be used when using these financial data. Sound conclusions can only be drawn when the data elements are used in proper context. The operational expenditure costs reported to the charts above are based on function codes as submitted to the Financial Information Database (FID). Districts are required by law (MCL 380.1281) to follow a common chart of accounts published as the Michigan
Public School Accounting Manual when reporting financial data. Definitions for each of the object codes listed in the charts above may be found in the Manual available at: http://www.michigan.gov/documents/appendix_33974_7.pdf.
Please note that Capital Outlay, an object category, was extracted from functional categories and reported with Facilities Acquisitions and Debt Service.
More district financial information can be found on-line at www.michigan.gov/cepi.
