Laredo Independent School District Comprehensive Annual Financial Report for the Ten Month Period Ended June 30, 2019
Total Page:16
File Type:pdf, Size:1020Kb
Laredo Independent School District Comprehensive Annual Financial Report For the Ten Month Period Ended June 30, 2019 Prepared by: Financial Management Department This Page Left Blank Intentionally LAREDO INDEPENDENT SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE TEN MONTH PERIOD ENDED JUNE 30, 2019 TABLE OF CONTENTS Page INTRODUCTORY SECTION Letter of Transmittal ..................................................................................................................... v District Officials, Staff, and Consultants ...................................................................................... ix Board of Trustees and Superintendent........................................................................................... x Organizational Chart .................................................................................................................... xi GFOA Certificate of Achievement .............................................................................................. xii Certificate of Board ....................................................................................................................xiii FINANCIAL SECTION Exhibit Independent Auditors' Report ........................................................................................................ 1 Management’s Discussion and Analysis ....................................................................................... 4 Basic Financial Statements Government-wide Financial Statements: A-1 Statement of Net Position ............................................................................................................ 18 B-1 Statement of Activities ................................................................................................................ 19 Governmental Fund Financial Statements: C-1 Balance Sheet - Governmental Funds ......................................................................................... 20 C-2 Reconciliation of the Governmental Funds Balance Sheet to the Statement of the Net Position .......................................................... 22 C-3 Statement of Revenues, Expenditures, and Changes in Fund Balance - Governmental Funds .......................................................................................... 24 C-4 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance to the Statement of Activities ...................................................... 26 Proprietary Fund Financial Statements: D-1 Statement of Net Position ............................................................................................................ 27 D-2 Statement of Revenues, Expenses, and Changes in Fund Net Position ....................................... 28 D-3 Statement of Cash Flows ............................................................................................................. 29 Fiduciary Fund Financial Statements: E-1 Statement of Fiduciary Net Position - Fiduciary Funds .............................................................. 30 Notes to the Financial Statements ............................................................................................... 31 Required Supplementary Information G-1 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual General Fund................................................................................................................................72 Notes to the Required Supplementary Information......................................................................73 G-6 Schedule of the District’s Proportionate Share of the Net Pension Liability...............................74 G-7 Schedule of District Contributions for Pensions..........................................................................76 G-8 Schedule of the District’s Proportionate Share of the Net OPEB Liability.................................78 G-9 Schedule of the District’s Contributions for Other Postemployment Benefits (OPEB)..............79 Notes to the Required Supplementary Information..................................................................... 80 Combining and Other Statements Non-Major Governmental Funds Special Revenue Funds .......................................................... 82 H-1 Combining Balance Sheet – Non-Major Governmental Funds ................................................... 86 H-2 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance - Non-Major Governmental Funds ................................................................................................ 92 Agency Funds: H-9 Combining Statement of Changes in Assets and Liabilities - All Agency Funds ....................... 98 I LAREDO INDEPENDENT SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE TEN MONTH PERIOD ENDED JUNE 30, 2019 TABLE OF CONTENTS Page TEA Required Schedules J-1 Schedule of Delinquent Taxes Receivables ............................................................................... 100 J-4 Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual – Food Service Fund ................................................................................... 102 J-5 Schedule of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual - Debt Service Fund .................................................................................... 103 Capital Assets Schedule of General Fixed Assets - By Location and Activity ................................................. 106 Schedule of Changes in Capital Assets - By Location and Activity .......................................... 108 Schedule of Changes in Capital Assets - By Function and Activity .......................................... 110 STATISTICAL SECTION Exhibit Statistical Section (Unaudited) ................................................................................................. 113 S-1 Net Position by Component - Last Ten Fiscal Years ................................................................ 114 S-2 Expenses, Program Revenue, and Net (Expense)/Revenue - Last Ten Fiscal Years ................. 115 S-3 General Revenues and Total Changes in Net Position - Last Ten Fiscal Years ....................... 116 S-4 Fund Balances, Governmental Funds - Last Ten Fiscal Years .................................................. 117 S-5 Governmental Funds Revenues - Last Ten Fiscal Years ........................................................... 118 S-6 Governmental Funds Expenditures and Debt Service Ratio - Last Ten Fiscal Years ............... 119 S-7 Other Financing Sources and Uses and Net Change in Fund Balances, Government Funds - Last Ten Fiscal Years .............................................................................. 120 S-8 Assessed Value and Actual Value of Taxable Property - Last Ten Fiscal Years ...................... 121 S-9 Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years ....................................... 122 S-10 Principal Property Taxpayers - Current Year and Ten Years Ago ............................................ 123 S-11 Property Tax Levies and Collections - Last Ten Fiscal Years .................................................. 124 S-12 Outstanding Debt by Type - Last Ten Fiscal Years .................................................................. 125 S-13 Direct and Overlapping Governmental Activities Debt - As of June 30, 2019 ......................... 126 S-14 Debt Margin Information - Last Ten Fiscal Years .................................................................... 127 S-15 Ratio of General Obligation Bonded Debt to Taxable Assessed Value .................................... 128 S-16 Demographic and Economic Statistics - Last Ten Calendar Years ........................................... 129 S-17 Principal Employers - Current Year and Ten Years Ago .......................................................... 130 S-18 Full-time Equivalent District Employees by Type - Last Ten Fiscal Years .............................. 131 S-19 Operating Statistics - Last Ten Fiscal Years ............................................................................. 132 S-20 Teacher Base Salaries - Last Ten Fiscal Years ......................................................................... 133 S-21 Measures of Capacity ............................................................................................................... 134 SINGLE AUDIT SECTION Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards .................................................................................................................... 143 Report on Compliance for Each Major Federal Program and Report on Internal Control over Compliance in Accordance with the Uniform Guidance ........................................................... 145 Auditors Documents Schedule of Findings and Questioned Costs ............................................................................. 147 II LAREDO INDEPENDENT SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE TEN MONTH PERIOD ENDED JUNE 30, 2019 TABLE OF CONTENTS Page Auditee Documents K-1 Schedule of Expenditures of Federal Awards ............................................................................ 150 Notes to the Schedule of Expenditures of Federal Awards ......................................................