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2017 Comprehensive Annual Financial Report for Kent County, Delaware Introductory Section

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2017 Comprehensive Annual Financial Report for Kent County, Delaware Introductory Section Kent County Levy Court Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 Shared Space Gym Area Kent County Parks & Rec Offices Kent County Support Services Boys & Girls Club Offices Boys & Girls Club Classrooms Seminar Space Circulation Building Support LEVY COURT COMMISSIONERS Hon. P Brooks Banta Hon. Allan F. Angel Hon. Glen M. Howell President Hon. Eric L. Buckson Hon. George “Jody” Sweeney Hon. Terry Pepper Hon. Bradley S. Eaby Michael J. Petit de Mange Vice President Hon. James E. Hosfelt Jr. County Administrator Kent County Administrative Complex Michael J. Petit de Mange, AICP 555 Bay Road County Administrator Dover, Delaware 19901 (Handicapped Accessible) (302) 744-2305 FAX: (302) 736-2279 RECREATION: A Quality of Life Imperative Dear Citizens: On a sunny warm afternoon in June 2009, Kent County Levy Court acquired 53 Acres of land from the Estate of Harvey C. Kesselring with the primary goal of someday building a Community Recreation Center on this beautiful tract of land adjoining Brecknock County Park. Although this strategic land acquisition was the culmination of years of discussions with the Kesselring Family, the timing of construction of a long awaited Recreation Center remained uncertain. Then in the Spring of 2012, Levy Court met with the Boys & Girls Clubs of Delaware to learn about a proposed Central Delaware Boys & Girls Club Facility that was being contemplated. During that historic meeting of April 3, 2012, imaginations were inspired by the possibility of a partnership centered on a shared vision for the future of recreation in Central Delaware. Several months of conceptual design and partnership exploration culminated in the signing of a formal agreement between the Boys & Girls Clubs of Delaware and Kent County Levy Court on December 21, 2012. On Saturday, June 4, 2016, Levy Court officially dedicated and opened the new Kent County Recreation Center. The cover of this report depicts an architectural rendering of the new facility. We believe that our citizens will find great satisfaction and joy in this new Center that will host families and friends in a multitude of healthy and life enriching pursuits for generations to come. I encourage you to visit our Website and explore all that Kent County Parks & Recreation has to offer. We welcome your feedback as we strive for continual improvement in the delivery of meaningful services for our Citizens. Thank you. Sincerely, Michael J. Petit de Mange, AICP County Administrator “Serving Kent County With Pride” Kent County, Delaware Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2017 Prepared by Kent County Department of Finance Susan L. Durham, Director i Table of Contents INTRODUCTORY SECTION Letter of Transmittal ..........................................................................................2 Organizational Chart ..........................................................................................8 List of Elected Officials .....................................................................................9 County Administrator and Department Directors ............................................11 FINANCIAL SECTION Independent Auditor’s Report......................................................................13 Management’s Discussion and Analysis ......................................................16 Basic Financial Statements Government-wide Financial Statements: Statement of Net Position .............................................................................26 Statement of Activities ..................................................................................27 Fund Financial Statements: Balance Sheet – Governmental Funds ..........................................................28 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ................................................................29 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ........................................................................30 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities ..........................................................................................31 Statement of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – General Fund ..................................................32 Statement of Net Position – Proprietary Funds.............................................34 Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds .............................................................................35 Statement of Cash Flows – Proprietary Funds ..............................................36 Statement of Net Position – Fiduciary Funds ...............................................38 Statement of Changes in Net Position – Fiduciary Funds ............................39 ii Table of Contents - continued Notes to the Financial Statements ................................................................40 Required Supplementary Information Schedule of Changes in Net Pension Liability, Related Ratios and Investment Returns ..........................................................................74 Pension Funded Status and Funding Progress ..............................................75 Other Post-Employment Benefits Funded Status and Funding Progress......77 Supplementary Information Combining Balance Sheet – Non-Major Governmental Funds ....................78 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Non-Major Governmental Funds ..................................79 Combining Statement of Net Position – Non-Major Proprietary Funds.......80 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position – Non-Major Proprietary Funds ..................................81 Combining Statement of Cash Flows – Non-Major Proprietary Funds ........82 Combining Statement of Net Position – Fiduciary Funds ............................84 Combining Statement of Changes in Net Position – Fiduciary Funds .........85 STATISTICAL SECTION Statistical Section Summary ............................................................................87 Financial Trends: Net Position by Component .............................................................................89 Changes in Net Position ...................................................................................90 Fund Balances of Governmental Funds ...........................................................92 Changes in Fund Balances of Governmental Funds ........................................93 Tax Revenue by Source – Governmental Funds..............................................94 Revenue Capacity: Assessed Value and Estimated Actual Value of Taxable Property .................95 Property Tax Rates – Direct and Overlapping Governments ..........................96 Principal Property Taxpayers ...........................................................................97 Property Tax Levies and Collections ...............................................................98 iii Table of Contents - continued Debt Capacity: Ratios of Outstanding Debt by Type ...............................................................99 Ratios of General Bonded Debt Outstanding .................................................100 Direct and Overlapping Governmental Activities Debt .................................101 Legal Debt Margin Information .....................................................................102 Demographic and Economic Information: Demographic and Economic Statistics ..........................................................103 Employment by Selected Industry (Major Employers) .................................104 Operating Information: Full-time Equivalent Employees by Function ...............................................105 Operating Indicators by Function/Program ...................................................106 Capital Asset Statistics by Function/Program................................................109 SINGLE AUDIT Independent Auditor’s 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 .......................................................111 Independent Auditor’s Report on Compliance for Each Major Program and on Internal Control Over Compliance Required by the Uniform Guidance ............................................................................113 Schedule of Expenditures of Federal Awards ................................................116 Notes to Schedule of Expenditures of Federal Awards .................................118 Schedule of Findings and Recommendations ................................................123 iv INTRODUCTORY SECTION This section includes the following: Letter of Transmittal Organizational Chart List of Elected Officials County Administrator and Department Directors 1 2017 Comprehensive Annual Financial Report for Kent County, Delaware Introductory Section Kent County Levy Court Kent County Administrative Complex 555 Bay Road, Dover, DE 19901 December 8, 2017 To the Honorable Kent County Levy Court President, members of the Kent County Levy Court, and the citizens of Kent County: We are pleased to submit the Comprehensive Annual Financial Report of Kent County
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