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Comprehensive Annual Financial Report State of North Dakota

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Comprehensive Annual Financial Report State of North Dakota Comprehensive Annual Financial Report State of North Dakota For the Fiscal Year Ended June 30, 2017 STATE OF NORTH DAKOTA Comprehensive Annual Financial Report FOR THE FISCAL YEAR ENDED June 30, 2017 Prepared by the Office of Management and Budget State of North Dakota Office of Management and Budget Fiscal Management Division 600 East Boulevard Avenue Dept. 110 Bismarck, ND 58505-0400 701-328-2680 This CAFR is also available at our Fiscal Management website: https://www.nd.gov/omb/agency/financial/comprehensive-annual-financial-report-cafr/cafr-reports Cover: Photo on cover provided by North Dakota Tourism/Fred R Walker COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2017 TABLE OF CONTENTS INTRODUCTORY SECTION Page Letter of Transmittal ..................................................................................................................................... 7 Certificate of Achievement for Excellence in Financial Reporting .............................................................14 North Dakota State Government Organization Chart ................................................................................15 List of Principal State Officials ...................................................................................................................16 FINANCIAL SECTION Independent Auditor's Report ........................................................................................................... 18 Management’s Discussion and Analysis ........................................................................................ 22 Basic Financial Statements: Government-wide Financial Statements Statement of Net Position .......................................................................................................... 34 Statement of Activities .............................................................................................................. 36 Statement of Net Assets – Component Units FASB Basis ........................................................ 38 Statement of Revenues, Expenses and Changes in Fund Net Assets – Component Units FASB Basis ............................................................................................. 39 Governmental Fund Financial Statements Balance Sheet ............................................................................................................................ 40 Reconciliation of the Balance Sheet—Governmental Funds to the Statement of Net Position ..................................................................................................... 41 Statement of Revenues, Expenditures, and Changes in Fund Balances.................................. 42 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances—Governmental Funds to the Statement of Activities .............................. 43 Proprietary Fund Financial Statements Statement of Net Position .......................................................................................................... 44 Statement of Revenues, Expenses, and Changes in Fund Net Position .................................. 46 Statement of Cash Flows ........................................................................................................... 48 Fiduciary Fund Financial Statements Statement of Fiduciary Net Position .......................................................................................... 52 Statement of Changes in Fiduciary Net Position ....................................................................... 53 Component Unit Financial Statements Combining Statement of Net Position - GASB .......................................................................... 54 Combining Statement of Activities - GASB ................................................................................ 55 Notes To The Financial Statements .................................................................................................. 56 Required Supplementary Information Other Than Management’s Discussion and Analysis Budgetary Comparison Schedule – General Fund .......................................................................... 146 Budgetary Comparison Schedule – Budget to GAAP Reconciliation General Fund ....................... 147 Budgetary Comparison Schedule – Federal Funds ......................................................................... 148 Budgetary Comparison Schedule – Budget to GAAP Reconciliation Federal Fund ....................... 149 Page Budgetary Comparison Schedule – State Funds............................................................................. 150 Budgetary Comparison Schedule – Budget to GAAP Reconciliation State Fund ........................... 151 Note to Required Supplementary Information – Budgetary Reporting ............................................ 152 Schedule of State’s Share of Net Pension Liability NDPERS ......................................................... 153 Schedule of State’s Contributions NDPERS .................................................................................... 153 Schedule of State’s Share of Net Pension Liability HPRS .............................................................. 154 Schedule of State’s Contributions HPRS ......................................................................................... 154 Schedule of State’s Share of Net Pension Liability JSND ............................................................... 155 Schedule of State’s Contributions JSND ......................................................................................... 155 Schedule of State’s Share of Net Pension Liability TFFR ............................................................... 156 Schedule of State’s Contributions TFFR ......................................................................................... 156 Schedule of Changes in Net Pension Liability and Related Ratios NDPERS ................................. 157 Schedule of Changes in Net Pension Liability and Related Ratios HPRS ...................................... 158 Schedule of Changes in Net Pension Liability and Related Ratios JSND ....................................... 159 Schedule of Changes in Net Pension Liability and Related Ratios TFFR ....................................... 160 Schedule of Changes to the Net Other Post Employment Benefit Liability and Related Ratios Retire Health Insurance Credit Fund .......................................................................................... 161 Schedule of Employer Contributions NDPERS ............................................................................... 162 Schedule of Employer Contributions HPRS .................................................................................... 162 Schedule of Employer Contributions JSND ..................................................................................... 162 Schedule of Employer Contributions RHIC ...................................................................................... 163 Information About the State’s Pension Benefit Plans ...................................................................... 164 Combining and Individual Fund Statements: Combining Balance Sheet – Nonmajor Governmental Funds ......................................................... 169 Combining Statement of Revenues, Expenses, and Changes in Fund Balance – Nonmajor Governmental Funds ............................................................................................... 170 Combining Statement of Net Position – Nonmajor Enterprise Funds.............................................. 174 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position – Nonmajor Enterprise Funds ..................................................................................................... 176 Combining Statement of Cash Flows – Nonmajor Enterprise Funds .............................................. 178 Combining Statement of Net Position – Internal Service Funds ...................................................... 183 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position – Internal Service Funds ............................................................................................................. 184 Combining Statement of Cash Flows – Internal Service Funds ...................................................... 185 Combining Statement of Fiduciary Net Position – Pension, Investment, and Private-Purpose Trust Funds ................................................................................................... 190 Combining Statement of Changes in Fiduciary Net Position – Pension, Investment, and Private-Purpose Trust Funds ............................................................................................ 194 Combining Statement of Fiduciary Assets and Liabilities – Agency Funds ..................................... 197 Combining Statement of Changes in Assets and Liabilities – Agency Funds ................................. 198 STATISTICAL SECTION Net Position by Component ..................................................................................................................... 202 Changes in Net Position ........................................................................................................................... 204 Fund Balances, Governmental Funds ..................................................................................................... 206 Changes in Fund Balances,
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