Vernon Parish School Board Leesville, Louisiana
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Vernon Parish School Board Leesville, Louisiana Comprehensive Annual Financial Report for the year ended June 30, 2018 VERNONPAIDSHSCHOOLBOARD Leesville, Louisiana COMPREHENSIVE ANNUAL FINANCIAL REPORT AS OF AND FOR THE YEAR ENDED JUNE 30, 2018 Angie Davis James Williams President Superintendent Tim Ward Director of Finance Prepared by the Department of Finance Vernon Parish School Board Table of Contents Page INTRODUCTORY SECTION Transmittal Letter 11-14 GFOA Certificate of Achievement for Excellence in Financial Reporting 15 ASBO Certificate of Excellence in Financial Reporting Award 17 Organization Chart 19 Elected Officials 20 Selected Administrative Officials 21 FINANCIAL SECTION Statement Independent Auditor's Report 25-27 Required Supplementary Information 28 Management's Discussion and Analysis (MD&A) 29-41 Basic Financial Statements Goverrnnent-wide Financial Statements (GWFS) 42 Statement of Net Position A 43 Statement of Activities B 44 Fund Financial Statements (FFS) 45 Governmental Funds: Balance Sheet c 46 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position D 47 Statement of Revenues, Expenditures, and Changes in Fund Balances E 48-49 Reconciliation of the Goverrnnental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities F 50 Fiduciary Funds: Statement of Fiduciary Assets and Liabilities G 51 Notes to the Financial Statements Index 52 Notes 53-83 Exhibit Required Supplementary Information 84 Schedule of Changes in the Total OPEB Liability and Related Ratios 1-1 85 Schedule ofEmployer's Proportionate Share of Net Pension Liability 1-2 86 Schedule of Employer Contributions to Pension Plans 1-3 87 Notes to Required Supplementary Information for Pensions 88 Budgetary Comparison Schedule 89 General Fund 1-4 90-91 Notes to the Budgetary Comparison Schedule 92 (Continued) Vernon Parish School Board Table of Contents Exhibit Page Supplementary Information 93 Nonmajor Govermnental Funds Combining Balance Sheet - By Fund Type 2 94 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - By Fund Type 3 95-96 Nonmajor Special Revenue Funds 98-99 Combining Balance Sheet 4 100-105 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 5 106-117 Schedule of Revenues, Expenditures, and Changes in Fund Balance- Budget (GAAP Basis) and Actual Ward I Maintenance 6-1 118 Ward 2 - Orange Maintenance 6-2 119 Ward 2- Hornbeck Maintenance 6-3 120 Ward 3 Maintenance 6-4 121 Ward 4 Maintenance 6-5 122 Ward 5 Maintenance 6-6 123 Ward 6 Maintenance 6-7 124 Ward 7 Maintenance 6-8 125 Ward 8 Maintenance 6-9 126 8G and Early Childhood Funds 6-10 127 Indian Education Grant 6-11 128 Vocational Education 6-12 129 Special Education 6-13 130 LA4 6-14 131 School Food Service 6-15 132 Food Processing Centers 6-16 133 JAG 6-17 134 Miscellaneous Federal Grants 6-18 135 Title I 6-19 136 Title II 6-20 137 Title III 6-21 138 Sales Tax 6-22 139 Head Start 6-23 140 Preschool 6-24 141 Education Excellence 6-25 142 REAP 6-26 143 (Continued) Vernon Parish School Board Table of Contents Exhibit Page Supplementary Information (Continued) Nonmajor Debt Service Funds: 145 Combining Balance Sheet 7 146-147 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 8 148-149 Nonmajor Capital Project Funds: !50 Combining Balance Sheet 9 !51 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 10 !52 Agency Funds: !53 Combining Statement of Fiduciary Assets and Liabilities 11 !54 Combining Statement of Changes in Fiduciary Assets and Liabilities 12 155-156 Schedule of Changes in Deposits Due Others - School Activities Agency Fund 13 !57 Schedules of Compensation Paid: Board Members 14 !59 Superintendent 15 160 STATISTICAL SECTION TABLE Contents 163-164 Financial Trends: Net Position by Component I 165 Changes inNet Position 2 166 Fund Balances of Govermnental Funds 3 167 Changes in Fund Balances of Governmental Funds 4 168 Revenue Capacity Assessed Value and Estimated Actual Value of Taxable Property 5 169 Overlapping Govermnents 6 170 Principal Property Taxpayers 7 171 Property Tax Levies and Collections 8 172 Sales and Use Tax Rates and Collections - All Govermnents 9 173 Debt Capacity Ratios of Outstanding Debt by Type 10 174 Ratios of General Bonded Debt Outstanding 11 175 Direct and Overlapping Govermnental Activities Debt 12 176 Legal Debt Margin Information 13 177 Demographic and Economic Information Demographic and Economic Statistics 14 178 Principal Employers 15 179 Operating Information: School Personnel 16 180 Student Capacity and Utilization 17 181-184 Operating Statistics 18 185 (Concluded) Vernon Parish School Board This page intentionally left blank z 0 I I u~ ~ VJ ~ 0 u~ ~ Q 0 ~ z~ I I President Superintendent Vice-President Angie Davis James Williams Vernon L. Travis, Jr. ~tmon ~ati~b s;cbool Jjoarb 201 Belview Road LEESVILLE, LOU ISIANA 71446 (337) 239-3401 Fax(337)238-5777 BOARD MEMBERS: District One Doug Brandon Robert Pynes, Jr. Jim Seaman Transmittal Letter Jackie Self Steve Woods December 28, 2018 District Two Angie Davis To the Elected School Board Members and Citizens of Vernon Parish: District Three David Detz The Comprehensive Ammal Financial Repmt of the Vernon Parish School Board (School District Four Randy Martin Board) for the year ended June 30, 2018 is submitted herewith. Finance Deprutment personnel following the guidelines recommended by the Association of School Business Officials District Five Intemational and the Government Finance Officers Association ofthe United States and Canada Shad Stewart have prepru·ed this report. District Six Vernon L. Travis, Jr. A. Management Responsibility Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the School District Seven John Blankenbaker Boru·d. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and ru·e repmted in a manner designed to present fairly the financial position and results District Eight Gerald Cooley of operations ofthe various funds ofthe School Boru·d. All disclosures necessary to enable the reader to gain an understanding of the School Boru·d's fmancial activities have been included. B. Reporting Entity The repmt includes all entities or organizations that ru·e required to be included in the School Boru·d's reporting entity. The basic criteria for determining whether a governmental department, agency, institution, commission, public authority, or other governmental organization should be included in a governmental unit's repmting entity is fmancial accountability. Financial accountability includes the appointment of a voting majority of the organization's governing body and either the ability of the primruy government to impose it's will on the organization or if there is a fmancial benefit/burden relationship. In addition, an organization which is fiscally dependent on the primruy government should be included in its repmting entity. The financial statements present the Vernon Parish School Boru·d (the primruy government). Based on the above criteria, there are no component units included in the School Board's repmting entity. The School Boru·d is required to undergo an annual single audit in conformity with the provisions ofthe Single Audit Act Amendments of 1996 and the Uniform Guidance. Information related to this single audit includes the Schedule of Expenditures of Federal Awru·ds, fmdings and recommendations, if applicable, and auditors' repmts on internal control and compliance with applicable laws and regulations. The single audit report is issued sepru·ately from this Comprehensive Annual Financial Repmi. "An Equal Opportunity Employer" 11 The School Board provides a full range of educational services appropriate to grade levels Pre K through 12 for 8,841 students, in which Pre K enrollment was 538 and MFP enrollment was 8,303. Projected enrollment by 2018- 2019 is estimated to be similar to current year. These services include providing instructional personnel, instructional materials, instructional facilities, child nutrition, administrative support, business services, systems operations, and plant maintenance and bus transportation. These basic services are supplemented by a wide variety of offerings in the fine arts and athletics. These education services are provided at eighteen school sites across the Parish with the school buildings ranging in age from 1955 to 1995 with all school sites being renovated over the last 10 ten years. Management provides 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 Vernon Parish School Board's MD&A can be found immediately after the report of the independent auditors. C. Internal Control Management of the School Board is responsible for establishing and maintaining internal control designed to ensure that the assets of the School Board are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with accounting principles generally accepted in the United States of America. Internal control is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable