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FY20 Comprehensive Annual Financial Report

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FY20 Comprehensive Annual Financial Report 2020 C O M P REHENSI VE ANN UAL FINANCIAL REPORT For the fiscal year ended June 30, 2020 INTRODUCTION The introduction provides background and general information about the County. Mecklenburg County • North Carolina TABLE OF CONTENTS INTRODUCTION Letter of Transmittal ...............................................................................................................i Facts and Information ...........................................................................................................xi Board of County Commissioners ........................................................................................xxi Organizational Chart .........................................................................................................xxii GFOA Certificate of Achievement ....................................................................................xxiii Financial Services Department .......................................................................................... xxiv FINANCIAL Report of Independent Auditor .............................................................................................1 Management’s Discussion and Analysis ..................................................................................3 BASIC FINANCIAL STATEMENTS Government-wide Financial Statements A - 1 Statement of Net Position (Deficit) ......................................................................................14 A - 2 Statement of Activities .........................................................................................................15 Fund Financial Statements Governmental Funds A - 3 Balance Sheet .......................................................................................................................16 A - 4 Statement of Revenues, Expenditures and Changes in Fund Balances ..................................17 A - 5 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ....................................................................................18 A - 6 General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual ...................................................................19 Proprietary Fund A - 7 Statement of Net Position ....................................................................................................22 A - 8 Statement of Revenues, Expenses and Changes in Net Position ...........................................23 A - 9 Statement of Cash Flows ......................................................................................................24 Fiduciary Funds A -10 Statement of Fiduciary Net Position ....................................................................................25 A -11 Statement of Changes in Fiduciary Net Position ..................................................................26 Notes to the Basic Financial Statements ...............................................................................27 REQUIRED SUPPLEMENTARY INFORMATION B - 1 Local Governmental Employees’ Retirement System – Schedule of the County’s Proportionate Share of the Net Pension Asset (Liability) .......................................79 B – 2 Local Governmental Employees’ Retirement System – Schedule of County Contributions ......................................................................................80 B – 3 Law Enforcement Officers’ Special Separation Allowance – Schedule of Changes in Total Pension Liability and Covered Payroll ....................................81 B – 4 Registers of Deeds’ Supplemental Pension Fund - Schedule of the County’s Proportionate Share of the Net Pension Asset (Liability) .......................................82 B – 5 Registers of Deeds’ Supplemental Pension Fund - Schedule of County Contributions ......................................................................................83 B – 6 Post Employment Benefit Healthcare Plan – Schedule of Changes in the Net OPEB Liability and Related Ratios ...............................................................................84 B – 7 Post Employment Benefit Healthcare Plan – Schedule of Investment Returns ..........................85 B – 8 Post Employment Benefit Healthcare Plan – Schedule of County Contributions .....................86 TABLE OF CONTENTS COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES Nonmajor Governmental Funds Nonmajor Governmental Funds Descriptions......................................................................87 C - 1 Combining Balance Sheet ....................................................................................................88 C - 2 Combining Statement of Revenues, Expenditures and Changes in Fund Balances .................................................................................................................89 Special Revenue Funds C - 3 Combining Balance Sheet ....................................................................................................90 C - 4 Combining Statement of Revenues, Expenditures and Changes in Fund Balances ................................................................................................................91 Capital Projects Funds C - 5 Combining Balance Sheet ....................................................................................................92 C - 6 Combining Statement of Revenues, Expenditures and Changes in Fund Balances .................................................................................................................93 Other Financial Schedules Agency Fiduciary Funds D - 1 Combining Statement of Assets and Liabilities ....................................................................94 D - 2 Statement of Changes in Assets and Liabilities .....................................................................95 Other Budgetary Schedules Debt Service Fund E – 1 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Debt Service Fund ..............................................................................96 Special Revenue Funds F - 1 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Storm Water Management ..................................................................97 F - 2 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Law Enforcement Service District .......................................................98 F - 3 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Transit One-half Cent Sales Tax ..........................................................99 F - 4 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Scrap Tire Disposal ...........................................................................100 F - 5 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Discarded White Goods ....................................................................101 F - 6 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Register of Deeds ..............................................................................102 F - 7 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Fire Service Districts .........................................................................103 F - 8 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Child Support Reinvestment .............................................................104 F - 9 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Coronavirus Relief ............................................................................105 Proprietary Funds G - 1 Schedule of Revenues and Expenses – Budget (Modified Accrual Basis) and Actual – Solid Waste Operating Fund .........................................................................106 G - 2 Schedule of Revenues and Expenditures – Budget and Actual (Non-GAAP) - Landfill Closure and Postclosure Reserve Fund ...............................107 G – 3 Schedule of Revenues and Expenditures – Budget and Actual (Non-GAAP) – Special Obligation Bond Fund ....................................108 TABLE OF CONTENTS STATISTICAL Statistical Section Summary ...............................................................................................109 Financial Trend Information Table 1 Net Position by Component ..............................................................................................110 Table 2 Change in Net Position......................................................................................................111 Table 3 Fund Balances, Governmental Funds .................................................................................112 Table 4 Changes in Fund Balances, Governmental Funds ..............................................................113 Table 5 Governmental Tax Revenues by Source ..............................................................................114 Revenue Capacity Information Table 6 Analysis of Current Tax Levy .............................................................................................115 Table 7 Schedule of Ad Valorem Taxes Receivable ..........................................................................116 Table 8 Assessed and Estimated Actual Value of Taxable Property ..................................................117
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