Tulsa Public Schools Comprehensive Annual Financial Report

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Tulsa Public Schools Comprehensive Annual Financial Report Tulsa Public Schools Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2013 Excellence and High Expectations with a Commitment to All INDEPENDENT SCHOOL DISTRICT NO. I-1, TULSA COUNTY, OKLAHOMA INDEPENDENT SCHOOL DISTRICT NO. I-1, TULSA COUNTY, OKLAHOMA Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2013 Prepared by the Department of Financial Services Tulsa Public Schools does not discriminate on the basis of race, religion, color, national origin, sex, sexual orientation, disability, genetic information, veteran status, marital status or age in its employment, programs and activities and provides equal access to the Boy Scouts and other designated youth groups. The following person has been designated to handle inquiries regarding Tulsa Public Schools’ non-discrimination policies: Dr. Pauline Harris, Human Rights Coordinator Tulsa Public Schools Human Capital Department 3027 South New Haven Avenue Tulsa, Oklahoma 74114-6131 918-746-6517 TULSA PUBLIC SCHOOLS 2013 COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS Page Introductory Section .............................................................................. 1 School District Officials .................................................................................................................... 3 Organizational Chart ........................................................................................................................ 4 Superintendent Profile ...................................................................................................................... 5 Board District Map ............................................................................................................................ 6 Board Member Profiles .................................................................................................................... 7 Letter of Transmittal ....................................................................................................................... 10 GFOA Certificate of Achievement for Excellence in Financial Reporting ...................................... 17 ASBO Certificate of Excellence in Financial Reporting ................................................................. 19 Financial Section .................................................................................. 21 Independent Auditors’ Report ............................................................................................... 23 Management’s Discussion and Analysis .............................................................................. 27 Basic Financial Statements ................................................................................................... 37 Statement of Net Position .............................................................................................................. 39 Statement of Activities .................................................................................................................... 40 Balance Sheet – Governmental Funds .......................................................................................... 41 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position .................................................................................................................................... 42 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ....................................................................................................................................... 43 Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities ................................................................................................... 44 Statement of Fiduciary Assets and Liabilities – Student Activity Funds ........................................ 45 Notes to the Financial Statements ................................................................................................. 46 Required Supplementary Information .................................................................................. 69 Budgetary Comparison Schedule – General Fund ........................................................................ 71 Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances to the Budgetary Comparison Schedule – General Fund ....................................................... 72 Notes to Required Supplementary Information .............................................................................. 73 Other Supplementary Information ........................................................................................ 75 Budgetary Comparison Schedule – Debt Service Fund ................................................................ 77 Budgetary Comparison Schedule – Capital Improvements ........................................................... 78 Budgetary Comparison Schedule – Special Revenue Fund .......................................................... 79 Statement of Changes in Fiduciary Asset and Liabilities – Student Activity Funds ....................... 80 Combining Balance Sheet (Other Funds) ...................................................................................... 81 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Other Funds) ...................................................................................................................................... 82 Tulsa Public Schools Comprehensive Annual Financial Report Fiscal Year Ended 6/30/2013 i TABLE OF CONTENTS Page Statistical Section (Unaudited) ............................................................ 83 Contents .................................................................................................................................. 85 Financial Trends .................................................................................................................... 86 Changes in Net Position................................................................................................................. 86 Changes in Fund Balances – Governmental Funds ...................................................................... 88 Net Position By Component ........................................................................................................... 90 Fund Balances, Governmental Funds ........................................................................................... 91 Revenue Capacity ................................................................................................................... 92 Property Tax Rates – Direct and Overlapping Governments ........................................................ 92 Direct and Overlapping Property Tax Rates .................................................................................. 92 Assessed Value and Estimated Actual Value of Taxable Property ............................................... 93 Principal Property Taxpayer ........................................................................................................... 94 Property Tax Levies and Collections ............................................................................................. 95 Debt Capacity ......................................................................................................................... 96 Outstanding Debt by Type ............................................................................................................. 96 Legal Debt Margin Information ....................................................................................................... 97 Direct and Overlapping Governmental Debt .................................................................................. 98 Demographic and Economic Information ............................................................................ 99 Tulsa Area Principal Employers ..................................................................................................... 99 Population, Per Capita Income and Employment ........................................................................ 100 Operating Information ......................................................................................................... 101 Net Current Expenditures Per Pupil ............................................................................................. 101 School Food Service Program ..................................................................................................... 102 High School Graduates ................................................................................................................ 103 List of School Buildings: Square Footage, Capacity, Age .......................................................... 104 Number of Schools, Student Enrollment and Attendance Information ........................................ 106 Schedule of Government Employees by Function ....................................................................... 107 Tulsa Public Schools Comprehensive Annual Financial Report ii Fiscal Year Ended 6/30/2013 INTRODUCTORY SECTION Tulsa Public Schools Comprehensive Annual Financial Report Fiscal Year Ended 6/30/2013 1 INTRODUCTORY SECTION: SCHOOL DISTRICT OFFICIALS Board of Education President Ruth Ann Fate Members Lana Turner-Addison Wilbert Collins Bobbie Gray-Elliott Leigh Goodson Lois Jacobs Gary Percefull Keith E. Ballard,
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