Snohomish County Washington
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SNOHOMISH COUNTY WASHINGTON GENERAL PURPOSE FINANCIAL STATEMENTS FISCAL YEAR ENDED DECEMBER 31, 2000 Prepared by Finance Department Snohomish County Administration Building Everett, WA 98201 Prepared by: Department of Finance Operations Division Finance Director Dan Clements Assistant Finance Director Rachel Solemsaas, CPA Financial Accounting Supervisor Rance Fretland Accounting Analysts Susan Bennett John Carr Fely DelaCruz Amy DeLosSantos, CPA Jayme Gill Karen Murphy, CPA Production Coordinators Rance Fretland Karen Murphy, CPA Carl Nelson, MPA For comments or questions contact: Rance Fretland 3000 Rockefeller Avenue Everett, WA (425) 388-3549 [email protected] Cover Design Karen Murphy, CPA Carl Nelson, MPA Snohomish County Budget Division SNOHOMISH COUNTY, WASHINGTON GENERAL PURPOSE FINANCIAL STATEMENTS FISCAL YEAR ENDED DECEMBER 31, 2000 TABLE OF CONTENTS INTRODUCTORY SECTION Page Organizational Chart iii Elected Officials v Letter of Transmittal vii FINANCIAL SECTION AUDITOR’S OPINION LETTER 1 GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups 2 Combined Statement of Revenues, Expenditures and Changes in Fund 6 Balances - All Governmental Fund Types, Expendable Trust Funds, and Component Units Combined Statement of Revenues, Expenditures, and Changes in Fund 8 Balances - Budget and Actual - General, Special Revenue, and Debt Service Fund Types Combining Statement of Revenues, Expenses, and Changes in Retained 10 Earnings - All Proprietary Fund Types Combined Statement of Cash Flows - All Proprietary Fund Types 11 Notes to Financial Statements Note 1 Summary of Accounting Policies 13 A Reporting Entity 13 B. Basis of Presentation Accounting 13 C. Basis of Accounting 15 D. Budgets and Budgetary Accounting 15 E. Assets, Liabilities and Equities 17 F. Revenues, Expenditures and Expenses 18 G. Total Columns on Combined Statements 19 Note 2 Stewardship, Compliance and Accountability 19 Note 3 Deposits and Investments 19 Note 4 Property Taxes 20 Note 5 Fixed Assets and Depreciation 21 Note 6 Pension Plans 22 Note 7 Risk Management 25 Note 8 Lease Obligations and Short Term Debts 26 Note 9 Short-Term Debt & Capital Leases 27 i SNOHOMISH COUNTY, WASHINGTON GENERAL PURPOSE FINANCIAL STATEMENTS FISCAL YEAR ENDED DECEMBER 31, 2000 TABLE OF CONTENTS Page Note 10 Contingencies & Litigation 31 Note 11 Construction & Other Commitments 32 Note 12 Interfund Transactions 33 Note 13 Fund Equities 35 Note 14 Segment Information 35 Note 15 Other Disclosures 36 Note 16 Subsequent Events 36 Schedules Schedule 1 - Schedule of State/Local Financial Assistance 37 Schedule 2 - Schedule of Federal Financial Assistance 41 STATISTICAL SECTION Table 1 General Government Expenditures by Function 47 Table 2 General Revenues By Source 47 Table 3 Property Tax Levies and Collections 47 Table 4 Assessed and Estimated Actual Value of Taxable Property 48 Table 5 All Overlapping Governments Property Tax Rates 48 Table 6 Principal Taxpayers 48 Table 7 Special Assessment Collections and Billings 49 Table 8 Limitation of Indebtedness 49 Table 9 Ratio of Net General Obligation Bonded Debt to Assessed Value 50 and - Net General Obligation Bonded per Capita Table 10 Ratio of Annual Debt Service Expenditures for General Bonded 50 Debt to - Total General Expenditures Table 11 Computation of Direct and Overlapping Bonded Debt 50 Table 12 Demographic Statistics 51 Table 13 Property Value, Construction, and Bank Deposits 51 Table 14 Miscellaneous Statistics 52 ii SNOHOMISH COUNTY, WASHINGTON ORGANIZATIONAL CHART SNOHOMISH COUNTY COUNTY COUNTY SUPERIOR COURT/ COUNCIL EXECUTIVE DISTRICT COURTS ELECTED APPOINTED EXECUTIVE EXECUTIVE DEPARTMENT DEPARTMENT AIRPORT ASSIGNED JUVENILE ASSESSOR COUNSEL SERVICES BUDGET PLANNING & CLERK & FINANCE DEVELOPMENT SVCS. CORRECTIONS GENERAL PROSECUTING SERVICES ATTORNEY HUMAN INFORMATION AUDITOR SERVICES SERVICES MEDICAL PARKS & SHERIFF EXAMINER RECREATION HUMAN PUBLIC WORKS TREASURER RESOURCES iii This page intentionally left blank. iv SNOHOMISH COUNTY, WASHINGTON ELECTED OFFICIALS COUNTY EXECUTIVE Robert J. Drewel COUNTY COUNCIL District 1 Mike Ashley District 2 Kirke Sievers District 3 Gary Nelson District 4 Barbara Cothern District 5 Dave Somers ASSESSOR Gail S. Rauch AUDITOR Robert Terwilliger CLERK Pam L. Daniels PROSECUTING ATTORNEY James Krider SHERIFF Rick Bart TREASURER Bob Dantini SUPERIOR COURT JUDGES Hon. James Allendoerfer Hon. Gerald L. Knight Hon. George N. Bowden Hon. Linda C. Krese Hon. Hon. Ronald L. Castleberry Hon. Larry E. McKeeman Hon. Ellen J. Fair Hon. Kenneth L. Cowsert Hon. Anita L. Farris Hon. Joseph A. Thibodeau Hon. Charles S. French Hon. Richard J. Thorpe Hon. David F. Hulbert Hon. Thomas J. Wynne DISTRICT COURT JUDGES Cascade District Court Jay F. Wisman Everett District Court Thomas E. Kelly Everett District Court Roger M. Fisher Evergreen District Court Steven M. Clough Evergreen District Court Charles R. Meyer South District Court Stephen J. Dwyer South District Court Carol A. McRae South District Court Timothy P. Ryan v This page intentionally left blank. vi Snohomish County Finance ROBERT J. DREWEL COUNTY EXECUTIVE October 16, 2001 MS 610 3000 ROCKEFELLER AVENUE Honorable Robert J. Drewel EVERETT, WASHINGTON 98201-4046 OFFICE (425) 388-3475 Snohomish County Executive FAX (425) 388-3744 County Administration Building Everett, Washington 98201 Re. Transmittal of 2000 General Purpose Financial Statement Dear County Executive Drewel: This correspondence will transmit the 2000 General Purpose Financial Statement for Snohomish County, Washington. This letter of transmittal has been organized into three sections: Introduction, Financial In- formation and Other Information. Introduction The Introduction Section will provide you with information regarding management representation, the General Purpose Financial Statement organization and the reporting entity. Representation The Snohomish County Finance Department is responsible for the accuracy, com- pleteness, and fairness of presentation of the information contained in this report. We believe this data is presented in a manner that fairly sets forth the financial po- sition and results of operations of the County as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the County’s financial affairs have been included. Financial Statements These General Purpose Financial Statements are divided into three sections: Intro- ductory, Financial, and Statistical. The Introductory Section contains a list of prin- cipal county officials, an organizational chart, a Table of Contents, and this letter of transmittal. The Financial Section contains the independent auditor’s report, the combined financial statements, and accompanying notes. The Statistical Section contains a number of statistical tables and charts that present various financial, economic, social and demographic data about the county for the last ten years. Reporting Entity Snohomish County operates under a Home Rule Charter, which was adopted by a vote of citizens in 1979, amended through the charter review process in January 1997. Independently elected administrative officials include the County Executive, the Prosecuting Attorney, the Sheriff, the Auditor, the Clerk, the Treasurer, and the Assessor who are elected at-large. A five member County, elected 2000- Letter of Transmittal by district, constitutes the legislative body. Elected officials serve four-year terms, councilman elections are staggered. Snohomish County provides many services on a county-wide basis and some services only to unincorporated areas. Within ap- propriate jurisdictions, the county provides road construction and maintenance, law enforcement, criminal prosecution and indigent defense, superior and district court services, criminal detention and correction, tax assessment and collections, plan- ning and community development services, elections and recordings, inquests, and an array of human services. In addition, the county owns and operates an airport and industrial park, a solid waste disposal facility, a golf course, and a data proc- essing center. Most funds in this report pertain to the entity of Snohomish County. Certain agency funds pertain to the County’s custodianship of assets belonging to independent gov- ernments and special purpose districts. The Snohomish County Treasurer acts as the ex officio treasurer for most special purpose districts of Snohomish County. Monies received from or for the special purpose districts are deposited in a centralized bank account. The County Treasurer invests or disburses moneys pursuant to instructions of the respective special pur- pose district’s governing body or administrative officers. Component Unit The annual financial report includes the Pilchuck Development Corporation. This is a legally separate entity from the County but requires inclusion for reporting pur- poses for two reasons: The Board of Directors are appointed by the Snohomish County Council, and the Corporation is prohibited from issuing industrial revenue bonds without the approval of the county Council. Financial Information The financial information section will provide you with internal and budgetary control, general govern- ment and proprietary operations, internal service, debt administration, cash and risk management. Internal Control The Snohomish County Finance Department maintains the accounting system and records of all Snohomish County funds