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Comprehensive Annual Financial Report Year Ended December 31, 2018

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Comprehensive Annual Financial Report Year Ended December 31, 2018 COUNTY OF ROCKLAND State of New York Comprehensive Annual Financial Report Year Ended December 31, 2018 COUNTY OF ROCKLAND State of New York Comprehensive Annual Financial Report Year Ended December 31, 2018 Edwin J. Day County Executive Stephen F. DeGroat, CPA Commissioner of Finance & Budget Director Steven J. Grogan, MPA, MS Deputy Budget Director COUNTY OF ROCKLAND, NEW YORK COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2018 TABLE OF CONTENTS Page INTRODUCTORY SECTION: Principal Officials .................................................................................................................................................................i Organization Chart………. .................................................................................................................................................ii Letter of Transmittal......................................................................................................................................................iii-xiii Certificate of Achievement for Excellence in Financial Reporting………....................................................................... xiv FINANCIAL SECTION: Independent Auditors’ Report…………………............................................................................................................... 1-3 Management’s Discussion and Analysis (Unaudited)……………............................................................................... 4-16 Basic Financial Statements Government-Wide Financial Statements: Statement of Net Position........................................................................................................................................... 17 Statement of Activities........................................................................................................................................... 18-19 Governmental Funds Financial Statements: Balance Sheet – Governmental Funds................................................................................................................. 20-21 Reconciliation of the Governmental Funds Balance Sheet to the Government-Wide Statement of Net Position.......................................................................................................... 22 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds.................................................................................................................... 23 Reconciliation of the Statement of Revenues, Expenditures and Changes Fund Balances of Governmental Funds to the Statement of Activities ................................................................... 24 Statement of Revenues, Expenditures and Changes in Fund Balance Budget and Actual – General Fund .......................................................................................................................... 25 Proprietary Funds Financial Statements: Statement of Net Position........................................................................................................................................... 26 Statement of Revenues, Expenses and Changes in Net Position ............................................................................ 27 Statement of Cash Flows ........................................................................................................................................... 28 Statement of Assets and Liabilities – Fiduciary Fund................................................................................................ 29 COUNTY OF ROCKLAND, NEW YORK COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2018 TABLE OF CONTENTS (CONTINUED) Page Statement of Net Position – Component Units .......................................................................................................... 30 Statement of Activities – Component Units........................................................................................................... 31-32 Notes to Financial Statements ................................................................................................................................... 33-88 Required Supplementary Information (Unaudited): Required Supplementary Information – Schedule of Changes in Total OPEB Liability and Related Ratios – County – Last Ten Fiscal Years ............................................................................................ 89 Required Supplementary Information – Schedule of Changes in Total OPEB Liability and Related Ratios – College (Component Unit) – Last Ten Fiscal Years ............................................................. 90 Required Supplementary Information – Schedule of Changes in Total OPEB Liability and Related Ratios – Authority (Component Unit) – Last Ten Fiscal Years ........................................................... 91 New York State and Local Employees’ Retirement System: Schedule of Contributions......................................................................................................................................... 92 Schedule of the County’s Proportionate Share of the Net Pension Liability ........................................................... 93 New York State Teacher’s Retirement System Schedule of Contributions......................................................................................................................................... 94 Schedule of the County’s Proportionate Share of the Net Pension Liability (Asset) ............................................... 95 Supplementary Information – Combining and Individual Fund Financial Statements and Schedules: Major Governmental Funds General Fund Comparative Balance Sheets .......................................................................................................................... 96 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual ............................................................................................................ 97-98 Schedule of Revenues and Other Financing Sources Compared to Budget .......................................... 99-101 Schedule of Expenditures and Other Financing Uses Compared to Budget ....................................... 102-104 Capital Projects Fund Comparative Balance Sheets ........................................................................................................................ 105 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance ................................. 106 Non-Major Governmental Funds Combining Balance Sheet – Non-Major Governmental Funds............................................................................ 107 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances Non-Major Governmental Funds .......................................................................................................................... 108 Special Revenue Funds Combining Balance Sheet – Non-Major Special Revenue Funds ................................................................ 109-110 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances Non-Major Special Revenue Funds............................................................................................................... 111-112 County Road Fund Comparative Balance Sheets....................................................................................................................... 113 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual....................................................................................................... 114-115 COUNTY OF ROCKLAND, NEW YORK COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2018 TABLE OF CONTENTS (CONTINUED) Page Road Machinery Fund Comparative Balance Sheets....................................................................................................................... 116 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual.......................................................................................................117-118 Community Development Fund Comparative Balance Sheets....................................................................................................................... 119 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual.......................................................................................................120-121 Sewer District Fund Comparative Balance Sheets....................................................................................................................... 122 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual.......................................................................................................123-124 Special Purpose Fund Comparative Balance Sheets....................................................................................................................... 125 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance................................ 126 Debt Service Fund Comparative Balance Sheets....................................................................................................................... 127 Comparative Schedules of Revenues, Expenditures and Changes in Fund Balance – Budget and
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