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Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2017

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Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2017 Tulsa Public Schools Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 INDEPENDENT SCHOOL DISTRICT NO. I-1, TULSA COUNTY, OKLAHOMA This page is left blank intentionally INDEPENDENT SCHOOL DISTRICT NO. I-1, TULSA COUNTY, OKLAHOMA Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 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, gender expression, gender identity, 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 & title IX coordinator Tulsa Public Schools Talent Management Department 3027 S. New Haven Ave. Tulsa, Oklahoma 74114-6131 918-746-6517 This page is left blank intentionally 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 ....................................................................................................................... 11 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 .............................................................................. 25 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 .................................................................................. 75 Schedule of the District’s Proportionate Share of the Net Pension Liability .................................. 77 Schedule of the District’s Pension Plan Contributions ................................................................... 79 Budgetary Comparison Schedule – General Fund ........................................................................ 80 Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances to the Budgetary Comparison Schedule – General Fund ....................................................... 81 Notes to Required Supplementary Information .............................................................................. 82 Other Supplementary Information ........................................................................................ 83 Budgetary Comparison Schedule – Debt Service Fund ................................................................ 85 Budgetary Comparison Schedule – Capital Improvements ........................................................... 86 Budgetary Comparison Schedule – Special Revenue Fund .......................................................... 87 Statement of Changes in Fiduciary Asset and Liabilities – Student Activity Funds ....................... 88 Combining Balance Sheet – General Funds ................................................................................. 89 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – General Funds ......................................................................................................................... 90 Combining Balance Sheet (Nonmajor Funds) ............................................................................... 91 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Nonmajor Funds) .................................................................................................................... 92 i TABLE OF CONTENTS Page Statistical Section (Unaudited) ............................................................ 93 Contents .................................................................................................................................. 95 Financial Trends .................................................................................................................... 96 Changes in Net Position................................................................................................................. 96 Changes in Fund Balances – Governmental Funds ...................................................................... 98 Net Position By Component ......................................................................................................... 100 Fund Balances, Governmental Funds ......................................................................................... 101 Revenue Capacity ................................................................................................................. 102 Property Tax Rates – Direct and Overlapping Governments ...................................................... 102 Direct and Overlapping Property Tax Rates ................................................................................ 102 Assessed Value and Estimated Actual Value of Taxable Property ............................................. 103 Principal Property Taxpayer ......................................................................................................... 104 Property Tax Levies and Collections ........................................................................................... 105 Debt Capacity ....................................................................................................................... 106 Ratios of Total Outstanding Debt by Type ................................................................................... 106 Ratios of General Net Bonded Debt Outstanding ........................................................................ 107 Legal Debt Margin Information ..................................................................................................... 108 Direct and Overlapping Governmental Debt ................................................................................ 109 Demographic and Economic Information .......................................................................... 110 Tulsa Area Principal Employers ................................................................................................... 110 Population, Per Capita Income and Employment ........................................................................ 111 Operating Information ......................................................................................................... 112 Net Current Expenditures Per Pupil ............................................................................................. 112 School Food Service Program ..................................................................................................... 113 High School Graduates ................................................................................................................ 114 List of School Buildings: Square Footage, Capacity, Age .......................................................... 115 Number of Schools, Student Enrollment and Attendance Information .......................................
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