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Comprehensive Annual Financial Report

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Comprehensive Annual Financial Report Comprehensive Annual Financial Report Every Child, By Name and Face, To Graduation Washoe County School District: Reno, NV | Fiscal Year ended June 30, 2014 Washoe County School District Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2014 Prepared By: Business & Financial Services Division Thomas Ciesynski, CPA Chief Financial Officer Michael Schroeder, CPA Gail Carson Budget Director Controller Andrea Sullivan Cindy Vance, CPA Director of Procurement and Contracts Accounting Manager Jill Murdock Robert Carson Budget Project Manager Senior Accountant Lisa Mae Woods Rob Luna Senior Accountant Grant Fiscal Administrator Val Gilmore Stephen Ashorn Special Education Admin Services Bond Accountant Washoe County School District Superintendent & Board of Trustees Pedro Martinez Barbara Clark Barbara McLaury Superintendent Board of Trustees Board of Trustees President Vice President Lisa Ruggerio Estela Gutierrez John Mayer Board of Trustees Board of Trustees Board of Trustees Clerk Member Member Dave Aiazzi Howard Rosenberg Board of Trustees Board of Trustees Member Member WASHOE COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2014 TABLE OF CONTENTS PAGE NO. I. INTRODUCTORY SECTION Letter of Transmittal i-x List of Principal Officials xi Organizational Chart xii Certificate of Excellence in Financial Reporting xiii II. FINANCIAL SECTION Independent Auditor's Report 1-3 Management’s Discussion and Analysis 4-19 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position 20 Statement of Activities 21-22 Fund Financial Statements: Governmental Funds: Balance Sheet 23-25 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 26 Statement of Revenues, Expenditures and Changes in Fund Balance 27-29 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities 30 Statement of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual General Fund 31 Major Special Revenue Fund: Special Education 32 Proprietary Funds: Statement of Net Position 33 Statement of Revenues, Expenses and Changes in Net Position 34 Statement of Cash Flows 35 Fiduciary Funds: Statement of Fiduciary Net Position 36 Statement of Changes in Fiduciary Net Position 37 Notes to Financial Statements 38-66 WASHOE COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2014 TABLE OF CONTENTS Required Supplementary Information: Schedule of Funding Progress and Schedule of Employer Contributions 67 Notes to Required Supplementary Information 68-69 Combining and Individual Fund Statements and Schedules: Nonmajor Governmental Funds: Combining Balance Sheet 70 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 71 Governmental Funds: Comparative Balance Sheet – General Fund 72 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual General Fund 73-79 Special Revenue Funds: Major Special Revenue Fund: Special Education 80-81 Special Revenue Funds: Nonmajor Special Revenue Funds: Combining Balance Sheet 82-87 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 88-93 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Title I 94-95 Federal – Other Agency Grants 96 Direct Federal Grants 97-98 Federal Special Education 99 Vocational Education 100 Federal, Nevada DOE 101-102 Family Resource Centers 103 Adult Education 104-105 Class Size Reduction 106 Tuition Based Full Day Kindergarten 107 Early Childhood 108-109 PERS and Financial Incentives 110 Special State Appropriations 111-112 Reading Improvement 113 WASHOE COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2014 TABLE OF CONTENTS Twenty-First Century 114 Title II, Part A, Teacher Training 115 Title III, English Language Acquisition 116 Regional Professional Development Program 117 Education Alliance 118 Private Foundations 119-120 Full Day Kindergarten 121 Medicaid 122 American Reinvestment and Recovery Act (ARRA) – Title I 123 Other State Agency Grants 124 Federal, Other State Agencies 125-126 Federal Edu-Jobs 127 Categorical Grants 128 Community Education 129 Gifts and Donations 130-131 Wellness 132 ERate Proceeds 133 Debt Service Fund: Major Debt Service Fund: Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual 134 Capital Projects Funds: Major Capital Projects Funds: Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual 2013 Bond Rollover Fund 135-136 2012 Bond Rollover Fund 137 2010 Washoe County Recovery Zone Economic Development Bond 138 2009B Washoe County Recovery Zone Economic Development Bond 139 2009B City of Reno Recovery Zone Economic Development Bond 140 2011B Bond Rollover Fund 141 2011 Bond Rollover Fund 142 2009 Bond Rollover Fund 143 2008 Bond Rollover Fund 144 2007 Bond Rollover Fund 145-146 2006 Bond Rollover Fund 147 WASHOE COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2014 TABLE OF CONTENTS Nonmajor Capital Projects Funds: Combining Balance Sheet 148 Combining Statement of Revenues, Expenditures and Changes in Fund Balance 149 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Government Services Tax Fund 150 Building and Sites Fund 151 Proprietary Funds: Nutrition Services Enterprise Fund: Statement of Net Position 152 Schedule of Revenues, Expenses and Changes in Net Position – Budget and Actual 153 Schedule of Cash Flows 154 Internal Service Funds: Combining Statement of Net Position 155 Combining Statement of Revenues, Expenses and Changes in Net Position 156 Combining Statement of Cash Flows 157 Insurance Fund - Property and Casualty: Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual 158 Schedule of Cash Flows 159 Insurance Fund - Health Insurance: Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual 160 Schedule of Cash Flows 161 Insurance Fund - Workers’ Compensation: Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual 162 Schedule of Cash Flows 163 Fiduciary Funds: Other Postemployment Benefits (OPEB) Trust Fund: Statement of Plan Net Position 164 Schedule of Changes in Plan Net Position 165 Agency Funds: Combining Statement of Changes in Assets and Liabilities 166 Student Activity Funds Schedule of Cash Receipts and Disbursements 167-168 WASHOE COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2014 TABLE OF CONTENTS Capital Assets Used in the Operation of Governmental Funds: Schedule by Source 169 Schedule by Function and Activity 170-171 Schedule of Changes by Function and Activity 172 III. STATISTICAL SECTION - Unaudited Financial Trends: 1.1 Net Position by Component, Last Ten Fiscal Years 173-174 1.2 Changes in Net Position, Last Ten Fiscal Years 175-178 1.3 Fund Balances of Governmental Funds, Last Ten Fiscal Years 179-180 1.4 Changes in Fund Balances of Governmental Funds, Last Ten Fiscal Years 181-182 1.5 Major Governmental Revenues by Source, Last Ten Fiscal Years 183-184 Revenue Capacity: 2.1 Principal Property Taxpayers, Current Year and Nine Years Ago 185 2.2 Property Tax Rates Direct and Overlapping Governments, Last Ten Fiscal Years 186-187 2.3 Assessed and Estimated Actual Value of Taxable Property, Last Ten Fiscal Years 188-189 2.4 Property Tax Levies and Collections, Last Ten Fiscal Years 190 2.5 Taxable Sales 191 Debt Capacity: 3.1 Ratios of Outstanding Debt by Type, Last Ten Fiscal Years 192 3.2 Ratios of General Bonded Debt, Last Ten Fiscal Years 193 3.3 Legal Debt Margin Information, Last Ten Fiscal Years 194 3.4 General Obligation Direct and Overlapping Debt, As of June 30, 2014 195 Demographic and Economic Information: 4.1 Demographic and Economic Statistics, Last Ten Fiscal Years 196-197 4.2 Principal Employers, Current Year and Nine Years Ago 198 Operating Information: 5.1 Operating Statistics, Last Ten Fiscal Years 199-200 5.2 Teacher Salary Schedules, Last Ten Fiscal Years 201 5.3 Full Time Equivalent Employees by Function, Last Ten Fiscal Years 202-203 5.4 Capital Asset Information, Last Ten Fiscal Years 204-205 WASHOE COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED JUNE 30, 2014 TABLE OF CONTENTS IV. COMPLIANCE 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 206-207 Independent Auditor's Report on Compliance for Each Major Program and on Internal Control Over Compliance Required by OMB Circular A-133 208-209 Schedule of Expenditures of Federal Awards 210-213 Notes to the Schedule of Expenditures of Federal Awards 214 Schedule of Findings and Questioned Costs 215 Summary Schedule of Prior Year Findings and Questioned Costs 216 Auditor’s Comments: Statute Compliance 217 Progress on Prior Year Statute Compliance 217 Prior Year Recommendations 217 Current Year Recommendations 217 Introductory Section Comprehensive Annual Financial Report Introductory Section . Letter of Transmittal . Board of Trustees and Administrative Officials . Organizational Chart . Certificate of Achievement for Excellence in Financial Reporting 425 East Ninth Street * P.O. Box 30425 * Reno, NV 89520-3425 Phone (775) 348-0200 * (775) 348-0304 * www.washoecountyschools.org
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