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Comprehensive Annual Financial Report 2017

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Comprehensive Annual Financial Report 2017 COMPREHENSIVE ANNUAL FINANCIAL REPORT 2017 EUCLID CITY SCHOOL DISTRICT EUCLID, OHIO FOR THE FISCAL YEAR ENDED JUNE 30, 2017 EUCLID CITY SCHOOL DISTRICT Euclid, Ohio COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2017 Prepared by: Treasurer’s Office This page is intentionally left blank. INTRODUCTORY SECTION Euclid City School District Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 TABLE OF CONTENTS I. INTRODUCTORY SECTION Letter of Transmittal ...................................................................................................................... i List of Principal Officials .......................................................................................................... viii Organizational Chart .................................................................................................................... ix II. FINANCIAL SECTION Independent Auditor’s Report ..................................................................................................... 1 Management’s Discussion and Analysis ..................................................................................... 5 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position ..................................................................................................... 19 Statement of Activities ......................................................................................................... 20 Fund Financial Statements: Balance Sheet – Governmental Funds .................................................................................. 22 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ............................................................................... 24 Statement of Revenues, Expenditures and Changes in Fund Balance – Budget (Non-GAAP Budgetary Basis)and Actual - General Fund .................................................................................................................... 26 Statement of Net Position – Proprietary Funds ..................................................................... 27 Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds................................................................................................................. 28 Statement of Cash Flows – Proprietary Funds ...................................................................... 29 Statement of Assets and Liabilities – Fiduciary Funds ......................................................... 30 Notes to the Financial Statements ............................................................................................ 31 A Euclid City School District Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 II. FINANCIAL SECTION (Continued) Required Supplementary Information: Schedule of the School District’s Proportionate Share of the Net Pension Liability – School Employees Retirement System of Ohio ............................. 81 Schedule of the School District’s Proportionate Share of the Net Pension Liability – State Teachers Retirement System of Ohio .................................... 82 Schedule of the School District’s Contributions - School Employees Retirement System of Ohio.................................................................... 84 Schedule of the School District’s Contributions - State Teachers Retirement System of Ohio .......................................................................... 86 Notes to the Required Supplementary Information ................................................................ 88 Combining and Individual Fund Financial Statements and Schedules: Fund Descriptions – Nonmajor Governmental Funds ............................................................ 90 Combining Balance Sheet – Nonmajor Governmental Funds ................................................ 92 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds ............................................. 93 Combining Balance Sheet – Nonmajor Special Revenue Funds ............................................ 94 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Special Revenue Funds ............................................................ 98 Combining Balance Sheet – Nonmajor Capital Projects Funds ........................................... 102 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Capital Projects Funds ........................................................... 103 Fund Descriptions – Nonmajor Enterprise Funds ................................................................ 104 Combining Statement of Net Position – Nonmajor Enterprise Funds .................................. 105 Combining Statement of Revenues, Expenses and Changes in Net Position – Nonmajor Enterprise Funds ........................................................................ 106 Combining Statement of Cash Flows – Nonmajor Enterprise Funds ................................... 107 Fund Descriptions – Internal Service Funds ......................................................................... 108 Combining Statement of Net Position – Internal Service Funds .......................................... 109 B Euclid City School District Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 II. FINANCIAL SECTION (Continued) Combining Statement of Revenues, Expenses and Changes in Net Position – Internal Service Funds ................................................................................ 110 Combining Statement of Cash Flows – Internal Service Funds ........................................... 111 Fund Descriptions – Fiduciary Funds ................................................................................... 112 Combining Statement of Changes in Assets and Liabilities - Fiduciary Funds ................... 113 Individual Fund Schedules of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual (Non-GAAP Budgetary Basis): General Fund ....................................................................................................................... 115 Bond Retirement Fund ......................................................................................................... 115 Building Fund ...................................................................................................................... 116 Classroom Facilities Fund ................................................................................................... 116 Special Trust Fund ............................................................................................................... 117 Public School Support Fund ................................................................................................ 117 Other Grants Fund ............................................................................................................... 118 Facilities Maintenance Fund ................................................................................................ 118 Termination Benefits Fund .................................................................................................. 119 District Managed Activity Fund .......................................................................................... 119 Auxiliary Services Fund ...................................................................................................... 120 Public School Preschool Fund ............................................................................................. 120 Alternative Schools Grant Fund .......................................................................................... 121 IDEA, Part B Special Education, Education of Handicapped Children Fund ..................... 121 Project Head Start Fund ....................................................................................................... 122 Title I - School Improvement A Fund ................................................................................. 122 Title III – Limited English Proficiency Fund ...................................................................... 123 Title I – Disadvantaged Children/Targeted Assistance Fund .............................................. 123 IDEA Preschool Grant for the Handicapped Fund .............................................................. 124 Improving Teacher Quality Fund ........................................................................................ 124 Miscellaneous Federal Grants Fund .................................................................................... 125 C Euclid City School District Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 II. FINANCIAL SECTION (Continued) Permanent Improvement Fund ............................................................................................ 125 Replacement Fund ............................................................................................................... 126 III. STATISTICAL SECTION Net Position by Component – Last Ten Fiscal Years (Accrual Basis of Accounting) ............................................................................................. S2 Changes in Net Position – Last Ten Fiscal Years (Accrual Basis of Accounting) ............................................................................................
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