Terrebonne Parish School Board Houma, Louisiana
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TERREBONNE PARISH SCHOOL BOARD HOUMA, LOUISIANA Comprehensive Annual Report June 30, 2019 LAPORTE CPAs t susiNe&s Aovisops statement/ Contents Schedule Page I. INTRODUCTORY SECTION School Board Members and Officials ii Organizational Chart iii II. FINANCIAL SECTION Independent Auditor's Report 1 - 3 Required Supplementary information (Part 1) Management's Discussion and Analysis (MD&A) 5-16 Basic Financial Statements Government-Wide Financial Statements (GWFS) Statement of Net Position A 18 Statement of Activities B 19 Fund Financial Statements (FFS) Governmental Funds Balance Sheet C 21-22 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position D 23 Statement of Revenues, Expenditures, and Changes in Fund Balances E 24-25 Reconciliation of the Govemmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities F 28 Proprietary Funds - Internal Service Funds Statement of Net Position G 27 Statement of Changes in Net Position H 28 Statement of Cash Flows I 29 Fiduciary Funds - Agency Funds Statement of Fiduciary Net Position J 30 Statement of Changes in Fiduciary Net Position K 31 Notes to Basic Financial Statements 32-81 Required Supplementary Information (Part II) Major Fund Type - Fund Descriptions 83 Budgetary Comparison Schedules General Fund 1 84-85 One Cent Sales Tax Fund (1996) 2 86 Schedule of Changes in Net OPEB Liability and Related Ratios 3 87 Schedule of Proportionate Share of Net Pension Liabilities 4 88 Schedule of School Board Contributions 5 89 Notes to Required Supplementary Information 90 - 93 Contents (Continued) Schedule Page II. FINANCIAL SECTION (Continued) Other Supplementary Information Description of Non-Major Funds 95-100 Combining Non-Major Govemmental Funds - By Fund Type Combining Balance Sheet 6 101 -104 Combining Statement of Revenue, Expenditures, and Changes in Fund Balances 7 105-108 Proprietary Fund Type - Internal Service Funds Fund Descriptions 109 Combining Statement of Net Position 8 110 Combining Statement of Revenues, Expenses, and Changes in Net Position 9 111 Combining Statement of Cash Flows 10 112 Fiduciary Fund Type - Agency Funds Fund Descriptions 113 Combining Statement of Changes in Asset Balances - School Activity Accounts 11 114 Schedule of Compensation Paid to Board Members 12 115 Schedule of Compensation, Benefits, and Other Payments to Agency Head or Chief Executive Officer 13 118 III. SINGLE AUDIT SECTION Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 118-119 Independent Auditor's Report on Compliance for Each Major Program and on Internal Control Over Compliance Required by the Uniform Guidance 120-121 Schedule of Expenditures of Federal Awards 122-123 Notes to Schedule of Expenditures of Federal Awards 124 Schedule of Findings and Questioned Costs 125-128 Summary Schedule of Prior Year Findings 127 Management's Correction Action Plan 128 NTRODUCTORY SECTION TERREBONNE PARISH SCHOOL BOARD HOUMA, LOUISIANA School Board Members and Officials 2018-2019 SCHOOL BOARD MEMBERS Debi Benoit, President Stacy Verhagen Solet, Vice-President Michael LaGarde Gregory Harding Matthew J. Ford Clyde F. Hamner Roger Dale DeHart Maybeile N. Trahan, Ed.D. Dane Voisin OFFICIALS Philip Martin Superintendent Rebecca Breaux Chief Financial Officer TERREBONNE PARISH SCHOOL BOARD HOUMA, LOUISIANA 2018-2019 Organizational Chart FINANCIAL SECTION VI LaPorre, APAC ' LAPORTE 304 Corporate Blvd. I Suite E CPAs a BusiMEss ADVISORS Houma. LA 70360 985.851.2433 I Fax 985.851.2606 LaPorte.com Independent Auditor's Report To the Members of the Terrebonne Parish School Board Houma, Louisiana Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Terrebonne Parish School Board (the School Board) as of and for the year ended June 30, 2019, and the related notes to the financial statements, which collectively comprise the School Board's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. LOUISIANA 'TEXAS An Independencly Owned Member. RSM US Alliance RSMLS Alliancemennberfir/nsaresepduiejDd rndependen bjsiressesand legalenllfief aieiesponsibiefertheli ownansand omis^ons. and eacMs separate and irdEperdem (torn R5M JSLLRftSM US ILP rstbeIJ.S. member firm cf RSM irternjiicmsl, a global nerwotk o# liidep«i^deitc audit, tax. and consulting nrms. Members of ASM US Alliance have accesa to HSM interratiorsal resources through RSM JSLLP but are ntst member firms O/FSM international. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Terrebonne Parish School Board, as of June 30, 2019, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis on pages 5-16, budgetary comparison information on pages 84 - 86 schedule of changes in the School Board's net other postemployment benefit (GREB) liability and related ratios, schedule of School Board's proportionate share of the net pension liability, and schedule of contributions to pension plans on pages 87 - 89 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information 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 do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Terrebonne Parish School Board's basic financial statements. The introductory section, combining and individual non-major fund financial statements, the schedule of compensation paid to board members, and the schedule of compensation, benefits, and other payments to agency head or chief executive officer are presented for purposes of additional analysis and are not a required part of the basic financial statements. The schedule of expenditures of federal awards is presented for purposes of additional analysis as required by Title 2 U.S.