CADDO PARISH SCHOOL BOARD Shreveport, Louisiana
Total Page:16
File Type:pdf, Size:1020Kb
CADDO PARISH SCHOOL BOARD Shreveport, Louisiana COMPREHENSIVE ANNUAL FINANCIAL REPORT AS OF AND FOR THE YEAR ENDED JUNE 30,2009 Under provisions of state law, this report is a public document. A copy of the report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office of the Legislative Auditor and, where appropriate, at the office of the parish clerk of court. Release Date ^/^J/O Bonita Crawford Gerald D- Dawkins, Ed. D- President Superintendent James G. Lee Director of Finance Prepared by the Department of Finance Caddo Parish School Board Table of Contents Page INTRODUCTORY SECTION Transmittal Letter 1-5 GFOA Certificate of Achievement for Excellence in Financial Reporting 7 ASBO Certificate of Excellence in Fioancial Reporting 9 Organization Chart 11 Executive Committee 12 Elected OfGcials 13 Selected Administrative Officials 13 FBVAJVCIAL SECTION Statement Independent Auditors* Report 15-16 Required Supplemental Information 17 Management's Discussion and Analysis (MD&A) 18-30 Basic Financial Statements: Government-wide Financial Statements (GWFS) 31 Statement of Net Assets A 33 Statement of Activities B 34 Fund Financial Statem^ts (FFS) 35 Govemmental Funds Balance Sheet C 36-37 Reconciliation of the Govemmental Funds Balance Sheet to the Statement of Net Assets D 39 Statement of Revenues, Expenditures, and Changes in Fund Balances E 40-43 ReconciHation of the Govemmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities F 44 Fiduciary Ftmds Statement of Assets and Liabilities G 45 Notes to the Basic Financial Statements Index 46 Notes 47-64 l2dMbit Required Supplemental Information 65 Schedule of Funding Progress for OPEB 66 Budgetary Comparison Schedule 67 General Fund 1-1 68 Title 1 1-2 69 Notes to the Budgetary Comparison Schedules 70-71 Supplemental Information 73 Combining Statements By Fund Type 74 Nonmajor Govemmental Funds Combining Balance Sheet 2 75 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 3 76-77 Nonmajor Special Revenue Funds 78-79 Combining Balance Sheet 4 80-83 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 5 84-91 (Continued) Caddo Parish School Board Table of Contents Supplemental Information (continued) Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget (GAAP Basis) and Actual TANF 6-1 92 Special Education 6-2 93 Title n 6-3 94 Title XDC 6-4 95 Title m 6-5 96 Title IV-(DTUg Free) 6-6 97 Title V 6-1 98 Family Support 6-8 99 8 (g) State Fund 6-9 . 100 Adult Education 6-10 101 Vocational Education 6-11 102 WIA 6-12 103 Homeless 6-13 104 Child Nutrition Program 6-14 105 MISC State/Federal Grants 6-15 106 Reading First 6-16 107 Tobacco Settlement 6-17 108 CEEF Operating 6-18 109 Agency Funds 110 Combining Statement of Changes in Ass^s and Liabihties 7 111 General Schedule of Compensation Paid Board Members 8 112 STATISTICAL SECTION Table Contents 113-114 Net Assets by Component 1 115 Changes in Net Assets 2 116 Govemmental Funds Fimd Balances of Govemmental fomds 3 117 Changes in Fund Balances of Govemmental Fxmds 4 118 Assessed Value and Estimated Actual Value of Taxable Propaty 5 119 Overlapping Governments 6 120 Priincipal Property Taxpayers 7 121 Property Tax Levies and Collections 8 122 Ratios of Outstanding Debt by Type 9 123 Ratios of G«3raal Bonded Debt Outstanding 10 124 Direct and Overlapping Governmental Activities Debt 11 125 Legal Debt Margin Information 12 126 Demographic and Economic Statistics 13 127 Principal Employers 14 128 School Building Information 15 129-131 School Personnel 16 132 Operating Statistics 17 133 Schedule of Insurance in Force 18 134 (Concluded) o GO o O 2^ CADDO PARISH SCHOOL BOARD POST OFFICE Box 32000 • 1961 MIDWAY STREET • SHREVEPORT, LOUISIANA 71130-2000 AREA CODE 318 • TELEPHONE 603-6300 • FAX 631-5241 Gerald D. Dawkins, Ed. D. Superintendent Transmittal Letter December 9,2009 Ms. Bonita Crawford, President Caddo Parish School Board Members and Citizens of Caddo Parish Louisiana law requires that an aimual sworn financial statement be furnished to the Legislative Auditor within six months of the close of each fiscal year in accordance with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards (GAAS) by a certified pubUc accountant Pursuant to that requiremrait, we hereby issue the Comprehensive Annual Financial Report of the Caddo Parish School Board for the year ended Jime 30, 2009. This report consists of management's representations concerning the finances of the Caddo Parish School Board, Consequently, management assumes full responsibihty for the completeness and reUabiUty of all of the information presented in this report To provide a reasonable basis for making these represmtations, management of the Caddo Parish School Board (School Board) has established a conq)reh€aasive internal control fi^amework that is designed both to protect the School Board's assets from loss, theft or misuse and to compile sufficient rehable information for the preparation of the Caddo Parish School Board's financial statements in conformity with GAAP. Because the cost of intemal controls should not outweigh their benefits, the Caddo Parish School Board's comprehensive fi*amework of intemal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As managanent, we assert that, to the best of our knowledge and belief this financial report is complete and rehable in all material respects. Allen, Green, & WOliarason, LLP, a firm of Uceaised certified pubhc accoimtants, has audited the Caddo Parish School Board's financial stateraoats. The goal of the independoit audit was to provide reasonable assurance that the financial statements of the Caddo Parish School Board for the fiscal year ended June 30, 2009 are fi-ee of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unquahfied opinion that the Caddo Parish School Board's financial statements for the fiscal year aided June 30, 2009 are fairly presented in conformity with accounting principles generally accepted in the United States of America (GAAP). The independent auditors' report is presented as the first con:^)onent of the financial section of this report 1 Offering Equal Opportunity in Employnient and Educational Programs Ms. Bonita Crawford, President Caddo Parish School Board Members and Citizens of Caddo Parish The independent audit of the financial statements of the Caddo Parish School Board was part of abroader, federally mandated Single Audit designed to meet the special needs of federal grantor agencies. The standards goveming Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government's intwnal controls and compliance with legal requironents, with special emphasis on intemal controls and legal requirements involving the administration of federal awards. These rqjorts are available in the Caddo Parish School Board's sqiarately issued Single Audit Report. GAAP requires that managonent provide a narrative introduction, overview, and analysis to accon^any the basic financial statements in the form of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement MD&A and should be read in conjtmction with it The Caddo Parish School Board's MD&A can be found immediatdy after the report of the independrait auditors. PROFILE OF THE CADDO PARISH SCHOOL BOARD Purpose and operations. The Caddo Parish School Board was created by Louisiana Revised Statute (LSA-R.S.) 17:51 to provide public education for the children within Caddo Parish. The School Board is authorized by LS A-R.S. 17:81 to establish pohcies and r^ulations for its own govemment consistent with the laws of the state of Louisiana and the regulations of the Louisiana Board of Elementary and Secondary Education. The School Board is comprised of 12 membCTs who are elected from 12 districts for concuirait terms of 4 years. The School Board operates 74 schools within the parish with a total enrollment of approximately 43,000 pupils. The School Board provides a fiiU range of educational services appropriate to grade levels K through 12. These include regular and enriched academic education, special education for handicapped stud«its, occupational education, and many individualized programs such as specialized instruction for disadvantaged students and those with limited Enghsh proficiency. These basic programs are supplemented by a wide vari^ of offerings in the fine arts and athletics. In conjunction with the regular educational programs, some of these schools ofiFerpre-kindergarten, special education and/or adult education programs. In addition, the School Board provides transportation and sdiool food services for the students. Reporting entity. The report includes all entities or organizations that are required to be included in the School Board's rqwrting entity. The basic criteria for determining whetiier a govemmental department, agency, institution, commission, public authority, or other govemmental organization should be included in a govemmental unit's reporting entity is financial accountability. Financial accountabiUty includes the appointment of a voting majority of the organization's goveming body and either the ability of the primary govemment to impose it's will on the organization or if there is a financial benefit/burden relationship. In addition, an organization which is fiscally dependent on the primary govemment should be included in its reporting entity. The financial statements present the Caddo Parish School Board (the primary govemment).