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Fiscal Year 2018 (June 30, 2018) 154,625,004

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Fiscal Year 2018 (June 30, 2018) 154,625,004 MONTANA DEPARTMENT OF ADMINISTRATION State Financial Services Division State Accounting Bureau Local Government Services Mitchell Building, Room 270, PO Box 200547, Helena, Montana 59620-0547 ENTITY # 011601 MONTANA GALLATIN COUNTY 311 WEST MAIN STREET BOZEMAN, MONTANA 59715 ANNUAL FINANCIAL REPORT FISCAL YEAR ENDING JUNE 30, 2018 FOR DEPARTMENT OF ADMINSTRATION USE ONLY Entered into Database Date: Reviewed by System's Staff REVISED OCT 2018/VERSION 18.5 INTRODUCTORY SECTION GALLATIN COUNTY, STATE OF MONTANA ANNUAL FINANCIAL REPORT Fiscal Year Ended June 30, 2018 TABLE OF CONTENTS Page No. INTRODUCTORY SECTION Table of Contents 1-2 Letter of Transmittal 3-7 Organizational Chart 8 List of Elected and Appointed Officials 9 FINANCIAL SECTION 10 Independent Auditor's Report 11-13 Management's Discussion and Analysis 14-31 Basic Financial Statements 32 Government-wide Financial Statements 33 Statement of Net Position 34 Statement of Activities 35 Fund Financial Statements 36 Balance Sheet - Governmental Funds 37 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 38 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 39 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of 40 Governmental Funds to the Statement of Activities Statement of Net Position - Proprietary Funds 41 Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds 42 Statement of Cash Flows - Proprietary Funds 43 Statement of Fiduciary Net Position -Fiduciary Funds 44 Statement of Changes in Fiduciary Net Position - Fiduciary Funds 45 Notes to the Financial Statements 46-113 1 GALLATIN COUNTY, STATE OF MONTANA ANNUAL FINANCIAL REPORT Fiscal Year Ended June 30, 2018 Page No. Required Supplementary Information: 114 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 115 Statement of Revenues, Expenditures and Changes in Fund Balance - 116-117 Budget and Actual - Major Special Revenue Funds Schedule of Proportionate Share of the Net Pension Liability and Schedule of Contributions 118-121 Notes to Required Supplementary Information 122-131 Other Supplementary Information: 132 Combining and Individual Fund Statements and Schedules Nonmajor Special Revenue Funds 133 Combining Balance Sheet 140-150 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Special Revenue Funds 151-199 Nonmajor Debt Service 200 Combining Balance Sheet 202 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Debt Service Funds 203-206 Nonmajor Capital Projects Funds 207 Combining Balance Sheet 209-210 Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Capital Projects Funds 211-218 Internal Service Funds 219 Combining Statement of Net Position 221 Combining Statement of Revenues, Expenses and Changes in Net Position 222 Combining Statement of Cash Flows 223 STATISTICAL SECTION 224 General Statistical Information 225-239 SINGLE AUDIT SECTION 240 Schedule of Expenditures of Federal Awards 241-243 Independent Auditor's Report on Internal Control over Financial Reporting and on 244-245 Compliance and Other Matters Independent Auditor's Report on Compliance For Each Major Program 246-247 and Internal Control over Compliance Schedule of Findings and Questioned Costs 248-250 County Response to Audit Findings 251 2 March 12, 2019 To the Board of County Commissioners and the Citizens of Gallatin County, Montana: State law requires that all general-purpose local governments publish, within six months of the close of each fiscal year, a complete set of financial statements presented in conformity with accounting principles generally accepted in the United States of America and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants. We hereby issue the annual financial report (AFR) of Gallatin County (hereafter referred to as County) for the fiscal year ended June 30, 2018. This report consists of management’s representations concerning the finances of the County. Consequently, management assumes full responsibility for the completeness and reliability of all of the information presented in this report. To provide a reasonable basis for making these representations, County management has established a comprehensive internal control framework that is designed both to protect the County’s assets from loss, theft, or misuse, to compile sufficient reliable information for the preparation of the County’s financial statements and comply with laws and regulations in conformity with accounting principles generally accepted in the United States of America. Because the cost of internal controls should not outweigh their benefits, the County designed our comprehensive framework of internal controls to provide reasonable, rather than absolute, assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects. The financial statements of the County have been audited by Anderson ZurMuehlen and Company P.C., a firm of licensed certified public accountants. The goal of the independent audit was to provide reasonable assurance that the financial statements of the County for the fiscal year ended June 30, 2018, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management and evaluating the overall financial statement presentation. The independent auditors concluded, based upon the audit, that there was a reasonable basis for rendering unmodified opinions over the County’s basic financial statement opinion units, as listed in the accompanying table of contents for the fiscal year ended June 30, 2018. The independent auditor’s report is presented at the front of the financial section of this report. The independent audit of the financial statements was part of a broader, federally mandated “Single Audit” designed to meet the special needs of federal grantor agencies. The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also an opinion on the audited government’s internal controls with legal requirements, with special emphasis on internal controls, and render an opinion on compliance involving the administration of major federal awards. The County is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act of 1984, as amended in 1996, and Title 2 of the United States Code of Federal Regulations part 200 (Uniform Guidance). Information related to this single audit, including the schedule of expenditures of federal awards (SEFA) and the auditor’s reports on internal control over financial reporting and compliance with other matters under Government Auditing Standards and in accordance with Title 2 are included in the single audit section of this report. 3 Management is required to provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The County’s MD&A can be found immediately following the report of the independent auditors. Profile of Gallatin County The County, established as a commission form of government in 1863, is located in the southwestern part of the State of Montana. The County government is comprised of a three-member Commission. Commissioners are elected at-large. Commissioners serve staggered six-year terms. There are twelve other elected officials, with nine serving four-year terms and three district court judges serving six-year terms. The County seat is located in Bozeman. The County has a land area of approximately 2,632 square miles and an estimated population of 103,545. The population of the County is predominantly urban, with the majority of the residents living within a twenty-mile radius of Bozeman. The County is empowered to levy a property tax on both real and personal property located within its boundaries. Government Gallatin County government provides a full range of services to its residents and visitors. General governmental functions include judicial and legal services, public records administration, election services, financial services, planning services and public and home school support. Public safety activities include law enforcement (Sheriff), fire protection, coroner, search and rescue, emergency services and detention services. The County provides public works functions associated with transportation (road and bridge) maintenance, lighting districts, weed control, building maintenance, solid waste services and cemetery services. The public health activity supports the rest home, environmental health, human services, mental health, water quality, mosquito control and predatory animal control. Finally, the County supports recreational and other functions through agriculture extension agents (4-H), fair, senior programs, open space, parks, library and conservation services. The annual budget serves as the foundation for the County’s financial planning
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