0-2016-CAFR-FINAL-V3.5-Signed.Pdf
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Front Cover: Famed Guam Photographer and 1989 Pulitzer Prize recipient for Feature Photography Manny Crisostomo captured the Guam-hosted 2016 Festival of Pacific Arts Fashion model, Ms. Siguenza, as she proudly flaunts a Guam-themed fashion attire during the Fashion show. COMPREHENSIVE ANNUAL FINANCIAL REPORT For The Fiscal Year Ended September 30, 2016 Edward J. B. Calvo Governor of Guam Christine W. Baleto Director of Administration Kathrine B. Kakigi, CPA Financial Manager Prepared By: The Division of Accounts P.O. Box 884 Hagatna, Guam 96932 Location: 7th Floor, ITC Building, Suite 707 590 South Marine Corps Drive, Tamuning (671) 475-1260/1169 ;. ,., ,. ... " ' Introductory Cover: Frontal view of Ms. Siguenza modeling the pre-occupational Guam attire as Famed Guam Photographer and 1989 Pulitzer Prize recipient for Feature Photography, during the Guam-hosted 2016 Festival of the Pacific Arts Fashion show. The event was the largest gathering of Pacific Islanders, including the Oceania area (New Zealand and Australia). 2016 Table of Contents INTRODUCTORY SECTION Letter of Transmittal .................................................................................................................................................................................... i Organizational Chart ................................................................................................................................................................................ xii Elected Officials ......................................................................................................................................................................................... xiii Guam Facts ............................................................................................................................................................................................... xviii FINANCIAL SECTION Independent Auditor’s Report ................................................................................................................................................................1 Management’s Discussion & Analysis (Unaudited) ........................................................................................................................4 Basic Financial Statements Government-wide Financial Statements Statement of Net Position ........................................................................................................................................................ 21 Statement of Activities .............................................................................................................................................................. 23 Governmental Fund Financial Statements Balance Sheet ................................................................................................................................................................................ 24 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ...................... 25 Statement of Revenues, Expenditures, and Changes in Fund Balances (Deficits) .......................................... 26 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities .................................................................................... 27 Fiduciary Fund Financial Statements Statement of Fiduciary Net Position .................................................................................................................................... 28 Statement of Changes in Fiduciary Net Position ............................................................................................................ 29 Discretely Presented Component Unit Financial Statements Statement of Net Position ........................................................................................................................................................ 30 Statement of Revenues, Expenses, and Changes in Net Position ............................................................................. 31 Notes to the Basic Financial Statements .................................................................................................................................. 33 Required Supplementary Information- Other than Management’s Discussion and Analysis Schedule of Revenues, Expenditures, and Changes in Fund Balance (Deficit) - Budget and Actual- General Fund (Unaudited) .................................................................................................................................................... 123 Notes to the Required Supplementary Information- Budgetary Reporting ........................................................... 124 Schedule of Funding Programs and Unfunded Actuarial Accrued Liability (Unaudited) ................................. 126 Schedule of Proportionate Share of Net Pension Liability (Unaudited) .................................................................. 127 Schedule of Pension Contributions (Unaudited) ............................................................................................................... 128 Other Supplementary Information General Fund Narrative ...................................................................................................................................................................................... 130 Combining Schedule of Balance Sheet Accounts ......................................................................................................... 133 Combining Schedule of Revenue, Expenditures by Function, and Changes in Fund Balance (Deficit) Accounts .................................................................................................................................................... 137 Combining Schedule of Revenue, Expenditures by Object, and Changes in Fund Balance (Deficit) Accounts .................................................................................................................................................... 141 Statement of Revenues, Expenditures by Department, and Changes in Fund Balance (Deficit) – General Fund (100) ................................................................................................................................................................................... 145 Statement of Revenues, Expenditures by Department, and Changes in Fund Balance (Deficit) – Budget and Actual - General Fund (100) ........................................................................................................................................ 153 Nonmajor Governmental Funds Narrative ...................................................................................................................................................................................... 161 2016 Table of Contents Combining Balance Sheet Accounts – Nonmajor Governmental Funds ............................................................. 162 Combining Statement of Revenue, Expenditures by Function, and Changes in Fund Balances – Nonmajor Governmental Funds .................................................................................................................. 163 Combining Schedule of Revenue, Expenditures by Object, and Changes in Fund Balances – Nonmajor Governmental Funds .................................................................................................................. 164 Nonmajor Governmental Funds – Special Revenue Funds Narrative ...................................................................................................................................................................................... 165 Combining Balance Sheet ...................................................................................................................................................... 171 Combining Statement of Revenue, Expenditures by Function, and Changes in Fund Balance (Deficit) ........................................................................................................................................................................ 178 Combining Schedule of Revenue, Expenditures by Object, and Changes in Fund Balances (Deficit) .... 185 Nonmajor Governmental Funds – Capital Projects Funds Narrative ...................................................................................................................................................................................... 192 Combining Balance Sheet ...................................................................................................................................................... 193 Combining Statement of Revenue, Expenditures by Function, and Changes in Fund Balances ........................................................................................................................................................................................ 194 Combining Schedule of Revenue, Expenditures by Object, and Changes in Fund Balances ...................... 195 Nonmajor Governmental Funds – Debt Service Funds Narrative ...................................................................................................................................................................................... 196 Fiduciary Funds – Pension Trusts Narrative .....................................................................................................................................................................................