Union Public Schools Independent School District #9 Tulsa, Oklahoma 74133 Union Public Schools Independent District #9 Tulsa, Oklahoma
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Union Public Schools Independent School District #9 Tulsa, Oklahoma 74133 Union Public Schools Independent District #9 Tulsa, Oklahoma Comprehensive Annual Financial Report For the Fiscal Year Ending June 30, 2015 Prepared by: Department of Finance Debra J. Jacoby, CPA Chief Financial Officer/Treasurer Catherine L. Bentley, CPA Director of Financial Reporting/Treasury Gail. L. Easterling, CPA Director of Accounting This page intentionally left blank. Union Public Schools - Table of Contents Comprehensive Annual Financial Report For the Fiscal Year Ending June 30, 2015 INTRODUCTORY SECTION ........................................................................................................Page Transmittal Letter and District Profile .......................................................................................1-15 ASBO Certificate of Excellence ....................................................................................................... 16 GFOA Certificate of Achievement ................................................................................................. 17 School Officials ................................................................................................................................. 18 Organizational Chart ....................................................................................................................... 19 FINANCIAL SECTION Independent Auditor’s Report ..................................................................................................21-24 Management’s Discussion and Analysis .................................................................................25-36 Basic Financial Statements Governmentwide Financial Statements Statement of Net Position ................................................................................................... 37 Statement of Activities ....................................................................................................38-39 Fund Financial Statements Balance Sheets - Governmental Funds .............................................................................. 41 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds ........................................................................ 42 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities ............. 43 Statement of Net Position - Proprietary Funds ................................................................ 44 Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds ................................................................................. 45 Statement of Cash Flows - Proprietary Funds ................................................................. 46 Statement of Net Position - Fiduciary Funds ................................................................... 47 Statement of Changes in Net Position - Fiduciary Funds .............................................. 48 Notes to the Financial Statements.......................................................................................49-76 Required Supplementary Information: Schedule of Funding Progress for Other Post-Employment Benefits ................................ 77 Schedule of the District’s Proportionate Share of the Net Pension Liability- Oklahoma Teachers’ Retirement System .......................................................................... 78 Schedule of District’s Contributions- Oklahoma Teacher’s Retirement System .......................................................................... 79 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - (Budgetary Basis) - Budgeted Governmental Fund Types - General Fund...................................................................... 80 Union Public Schools - Table of Contents Comprehensive Annual Financial Report For the Fiscal Year Ending June 30, 2015 FINANCIAL SECTION (Cont.) ......................................................................................................Page Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - (Budgetary Basis) - Budgeted Governmental Fund Types - Building Fund .................................................. 81 Other Supplementary Information: Combining Statement of Changes in Assets and Liabilities - Agency Funds ............. 83 STATISTICAL SECTION Net Position by Component ........................................................................................................... 87 Changes in Net Position .............................................................................................................88-89 Fund Balances of Governmental Funds ........................................................................................ 90 Changes in Fund Balances of Governmental Funds ................................................................... 91 Assessed and Estimated Actual Value of Taxable Property ....................................................... 93 Direct and Overlapping Property Tax Rates ................................................................................ 94 Principal Property Taxpayers ......................................................................................................... 95 Property Tax Levies and Collections ............................................................................................. 96 Ratio of Outstanding Debt by Type ............................................................................................... 97 Ratios of Net General Bonded Debt Outstanding ....................................................................... 98 Direct and Overlapping Governmental Activities Debt ............................................................. 99 Legal Debt Margin ......................................................................................................................... 100 Demographic and Economic Statistics .................................................................................101-102 Tulsa Area Principal Employers ................................................................................................... 103 Capital Assets by Function and Activity .................................................................................... 105 Employee Information .................................................................................................................. 106 Operating Statistics ........................................................................................................................ 107 Support Services Statistics ............................................................................................................ 108 School Building Information ................................................................................................. 109-111 Insurance Schedule ........................................................................................................................ 112 Union Public Schools Independent District #9 December 22, 2015 To the Patrons of Union Public Schools: The Comprehensive Annual Financial Report of Union Public Schools, Independent District #9 (the “District”) for the fiscal year ending June 30, 2015, is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the District. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operation of the various funds of the District. All disclosures necessary to enable the reader to gain an understanding of the District’s financial activities have been included. The letter of transmittal is designed to complement Management’s Discussion and Analysis and should be read in conjunction with it. Union Public Schools Management’s Discussion and Analysis can be found immediately after the report of the independent auditor, on page 25. The report includes all current funds of the District. The services provided include education of preschool through adults with primary emphasis on Pre-K through grade 12. Education Service Center 8506 E. 61st Street Tulsa, OK 74133 918-357-4321 Fax: 918-357-6017 Website: www.unionps.org 1 Union Public Schools District Profile Fiscal Year Ending June 30, 2015 Introduction Union Public Schools, Independent District #9, Tulsa classes, Union offers a variety of Advanced Placement County, is a premiere Oklahoma school district “ahead of classes which allow students to earn college credit while the curve” on college and career readiness and expanded learning about a subject in depth. In partnership with avenues for individual student success. Tulsa Community College (TCC), Union was one of the first to pilot a unique concurrent enrollment program at Its approximately 16,000 students, Pre-K through the Union Collegiate Academy (UCA) on its High School 12th grade, reside within a 28-square-mile boundary campus, enabling qualifying students to earn both high encompassing both southeast Tulsa and a portion of school and college credits at the same time – virtually Broken Arrow. The school system is the heart of the tuition free! It has not been unusual for some to graduate community and serves as a unifying force. It includes with both a high school diploma and