Comprehensive Annual Financial Report

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Comprehensive Annual Financial Report Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2015 1058 Fifth Avenue · Jonesboro, Georgia 30236 Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2015 Prepared by: Division of Business Services 1058 Fifth Avenue · Jonesboro, Georgia 30236 CLAYTON COUNTY BOARD OF EDUCATION COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS INTRODUCTORY SECTION Letter of Transmittal .............................................................................................................................................. i - iv Clayton County Board of Education Function and Composition ........................................................................... v Clayton County Board of Education Elected Officials and Superintendent of Schools .......................................................................................................................... vi Executive Staff ...........................................................................................................................................................vii Organizational Chart ................................................................................................................................................. viii FINANCIAL SECTION Independent Auditor’s Report .............................................................................................................................. 1 - 3 Management’s Discussion and Analysis .......................................................................................................... 4 - 13 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position .......................................................................................................................... 14 Statement of Activities ................................................................................................................... 15 and 16 Fund Financial Statements: Balance Sheet – Governmental Funds ..................................................................................................... 17 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ........................................................................................................ 18 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ....................................................................................................... 19 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ......................................... 20 General Fund – Statement of Revenues, Expenditures and Changes in Fund Balances – Budget (Non-GAAP) and Actual ........................................................................... 21 Statement of Net Position – Proprietary Funds ...................................................................................... 22 Statement of Revenues, Expenses and Changes in Fund Net Position – Proprietary Funds .............................................................................................................. 23 Statement of Cash Flows – Proprietary Funds ........................................................................... 24 and 25 Statement of Fiduciary Assets and Liabilities – Agency Fund .............................................................. 26 Notes to Financial Statements .................................................................................................................. 27 – 58 Required Supplementary Information: Schedule of Proportionate Share of the Net Pension Liability - Teachers Retirement System of Georgia .......................................................................................... 59 Schedule of Contributions – Teachers Retirement System of Georgia ............................................... 60 Notes to Required Supplementary Information - Teachers Retirement System of Georgia .......................................................................................... 61 Schedule of Proportionate Share of the Net Pension Liability - Public School Employees Retirement System ................................................................................. 62 Notes to Required Supplementary Information - Public School Employees Retirement System ................................................................................. 63 Schedule of Proportionate Share of the Net Pension Liability - Employees’ Retirement System ......................................................................................................... 64 Schedule of Contributions – Employees’ Retirement System .............................................................. 65 Notes to Required Supplementary Information - Employees’ Retirement System ......................................................................................................... 66 CLAYTON COUNTY BOARD OF EDUCATION COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2015 TABLE OF CONTENTS FINANCIAL SECTION (CONTINUED) Combining Fund Schedules: Combining Balance Sheet – Nonmajor Governmental Funds ................................................................ 67 - 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds ........................................................................................ 71 - 74 Schedule of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual – Nonmajor Governmental Funds ....................................................................... 75 - 84 Statement of Changes in Assets and Liabilities – Agency Fund ...................................................... 85 and 86 STATISTICAL SECTION Net Position by Component – Last Ten Fiscal Years ............................................................................................ 87 Changes in Net Position – Last Ten Fiscal Years .......................................................................................... 88 - 91 Fund Balances, Governmental Funds – Last Ten Fiscal Years ........................................................................... 92 Changes in Fund Balances, Governmental Funds – Last Ten Fiscal Years .......................................... 93 and 94 Assessed Value and Estimated Actual Value of Taxable Property – Last Ten Fiscal Years ............................ 95 Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ................................................................. 96 Principal Property Taxpayers – Current Year and Nine Years Ago ..................................................................... 97 Property Tax Levies and Collections – Last Ten Tax Years ................................................................................. 98 Schedule of Revenues by Source – Governmental Funds – Last Ten Fiscal Years ............................ 99 and 100 Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ........................................................................... 101 Direct and Overlapping Governmental Activities Debt ....................................................................................... 102 Legal Debt Margin Information – Last Ten Fiscal Years ....................................................................... 103 and 104 Demographic and Economic Statistics – Last Ten Fiscal Years ....................................................................... 105 Principal Employers – Current Year and Nine Years Ago .................................................................................. 106 Student Ethnicity Statistics – Last Ten Fiscal Years .......................................................................................... 107 Student Enrollment Statistics – Last Ten Years .................................................................................................. 108 Teachers’ Base Salaries – Last Ten Fiscal Years ................................................................................................ 109 History of High School Graduates – Last Ten School Years ............................................................................. 110 Ratio of Pupils to Professional Personnel – Last Ten Fiscal Years .................................................................. 111 Cost Per Pupil Enrolled – Last Fiscal Ten Years ................................................................................................. 112 Nutrition Services – Facts and Figures – Last Ten Fiscal Years ....................................................................... 113 School Building Information – Last Ten Fiscal Years ................................................................................ 114 - 119 SINGLE AUDIT SECTION 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 ............................. 120 and 121 Independent Auditor’s Report on Compliance For Each Major Federal Program and on Internal Control Over Compliance Required by OMB Circular A-133 ..................................... 122 - 124 Schedule of Expenditures of Federal Awards ............................................................................................ 125 - 127 Note to Schedule of
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