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Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2017

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Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2017 The District School Board of Escambia County Pensacola, Florida COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2017 Superintendent Malcolm Thomas DISTRICT 1 DISTRICT 3 DISTRICT 5 Kevin Adams Linda Moultrie Bill Slayton Chairman DISTRICT 2 DISTRICT 4 Gerald Boone Patty Hightower Vice Chairman District School Board Of Escambia County Pensacola, Florida Comprehensive Annual Financial Report For The Fiscal Year Ended June 30, 2017 Prepared By: Finance Department This page was intentionally left blank. DISTRICT SCHOOL BOARD OF ESCAMBIA COUNTY, FLORIDA Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 Table of Contents Introductory Section Letter of Transmittal ................................................................................................................................ i School Board Members and Superintendent ......................................................................................... vi Principal Officials ................................................................................................................................... vii Organizational Chart ............................................................................................................................. viii ASBO Certificate of Excellence .............................................................................................................. ix GFOA Certificate of Achievement .......................................................................................................... x Financial Section Independent Auditor’s Report ................................................................................................................. 1 Management’s Discussion and Analysis ................................................................................................ 5 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position .................................................................................................................. 17 Statement of Activities ....................................................................................................................... 18 Fund Financial Statements: Balance Sheet – Governmental Funds ............................................................................................. 20 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ................................................................................................................. 23 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ............................................................................................ 24 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities ...................................................................................................................... 26 Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual - General Fund .......................................................................... 27 Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget to Actual – Major Special Revenue Fund – Other Federal Programs Fund .............................................................................. 28 Financial Section Basic Financial Statements: Fund Financial Statements: (continued) Statement of Net Position – Proprietary Funds ................................................................................. 29 Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds ............................................................................................ 30 Statement of Cash Flows – Proprietary Funds .................................................................................. 31 Statement of Fiduciary Assets and Liabilities – Fiduciary Funds ...................................................... 32 Notes to Financial Statements ........................................................................................................... 33 Required Supplementary Information: Schedule of Funding Progress – Other Postemployment Benefits ..................................................... 77 Notes to Required Supplementary Information ................................................................................... 78 Schedule of the District’s Proportionate Share of the Net Pension Liability - Florida Retirement System Pension Plan ......................................................................................... 79 Schedule of District Contributions – Florida Retirement System Pension Plan .......................................................................................... 79 Schedule of the District’s Proportionate Share of the Net Pension Liability - Health Insurance Subsidy Pension Plan .......................................................................................... 80 Schedule of District Contributions – Health Insurance Subsidy Pension Plan ........................................................................................... 80 Other Supplementary Information: Combining and Individual Fund Financial Statements and Schedules: Nonmajor Governmental Funds: Combining Balance Sheet – Nonmajor Governmental Funds .......................................................... 85 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Governmental Funds ........................................................................... 87 Governmental Fund Types: General Fund: Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual .................................................................................................. 92 Special Revenue Funds: Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Food Service......................................................................... 98 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Other Federal Programs ....................................................... 99 Debt Service Funds: Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – State Board of Education (SBE) Bonds ............................... 103 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Other Debt Service .............................................................. 104 Financial Section Other Supplementary Information: Combining and Individual Fund Statements and Schedules: Governmental Fund Types: (continued) Capital Projects Funds: Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Public Education Capital Outlay .......................................... 106 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Capital Outlay and Debt Service ......................................... 107 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Local Capital Improvement .................................................. 108 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget to Actual – Other Capital Projects ......................................................... 109 Proprietary Fund Types: Internal Service Funds: Combining Statement of Net Position ............................................................................................. 111 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position ....................................................................................................... 112 Combining Statement of Cash Flows .............................................................................................. 113 Fiduciary Fund Types: Agency Funds: Combining Statement of Fiduciary Assets and Liabilities ............................................................... 115 Combining Statement of Changes in Fiduciary Assets and Liabilities ............................................ 116 Other Statements: Discretely Presented Component Units: Combining Statement of Net Position ............................................................................................. 118 Combining Statement of Activities ................................................................................................... 120 Statistical Section Financial Trend Information: Net Position by Component – Government-wide ............................................................................. 126 Changes in Net Position – Government-wide .................................................................................. 128 Fund Balances of Governmental Funds ........................................................................................... 131 Changes in Fund Balances of Governmental Funds........................................................................ 132 Statistical Section (continued) Revenue Capacity Information: General Governmental Tax Revenues by Source ............................................................................ 134 Assessed and Estimated Actual Value of Taxable Property ............................................................ 135 Property Tax Rates – Direct and Overlapping Governments ........................................................... 136 Principal Property Taxpayers ..........................................................................................................
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