LEANDER Independent School District Leander, Texas
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LEANDER Independent School District Leander, Texas Comprehensive Annual Financial Report For the Year Ended August 31, 2018 LEANDER INDEPENDENT SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended August 31, 2018 Issued By: Leander Independent School District Division of Finance Lucas Janda Chief Financial Officer Leander, Texas LEANDER INDEPENDENT SCHOOL DISTRICT TABLE OF CONTENTS Exhibit/ Page Table Introductory Section Principal Officials and Advisors i Certificate of the Board ii Transmittal Letter iii GFOA Certificate of Achievement xv ASBO Certificate of Excellence xvi Organizational Chart xvii Financial Section Report of Independent Auditors 1 Management’s Discussion and Analysis 7 Basic Financial Statements: Government-wide Financial Statements Statement of Net Position 17 A-1 Statement of Activities 18 B-1 Governmental Fund Financial Statements Balance Sheet 20 C-1 Reconciliation of Balance Sheet for Governmental Funds to Statement of Net Position 23 C-2 Statement of Revenues, Expenditures, and Changes in Fund Balance 24 C-3 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balance of Governmental Funds to the Statement of Activities 26 C-4 Proprietary Fund Financial Statements Statement of Net Position 27 D-1 Statement of Revenues, Expenses, and Changes in Net Position 28 D-2 Statement of Cash Flows 29 D-3 Fiduciary Fund Financial Statements Statement of Fiduciary Assets and Liabilities 30 E-1 Notes to the Financial Statements 31 F-1 Required Supplementary Information: Budgetary Comparison Schedule - General Fund 68 G-1 Notes to Required Supplementary Information 69 G-2 Schedule of the District’s Proportionate Share of the Net Pension Liability 70 G-3 Schedule of District Pension Contributions 71 G-4 Schedule of the District’s Proportionate Share of the Net OPEB Liability 72 G-5 Schedule of District OPEB Contributions 73 G-6 Notes to Required Supplementary Information – Pensions & OPEB 74 G-7 Other Supplementary Information: Combining Fund Statements: Nonmajor Governmental Funds Combining Balance Sheet 78 H-1 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance 84 H-2 LEANDER INDEPENDENT SCHOOL DISTRICT TABLE OF CONTENTS (continued) Exhibit/ Page Table Other Supplementary Information: (continued) Combining Fund Statements: (continued) Nonmajor Governmental Funds Combining Statements of Net Position – Internal Service Funds 90 H-3 Combining Statement of Revenues, Expenditures, and Changes in Fund Net Position 92 H-4 Combining Statement of Cash Flows – Internal Service Funds 94 H-5 Statement of Changes in Assets and Liabilities 96 H-6 Required TEA Schedules: Schedule of Delinquent Taxes Receivable 98 J-1 Budgetary Comparison Schedule - Debt Service Fund 100 J-2 Budgetary Comparison Schedule - Child Nutrition Program Fund 101 J-3 Statistical Section Net Position by Component 106 1 Expenses, Program Revenues, and Net Revenue (Expense) 108 2 General Revenues and Total Change in Net Position 110 3 Fund Balances of Governmental Funds 112 4 Governmental Funds Revenue 114 5 Governmental Funds Expenditures and Debt Service Ratio 118 6 Other Financing Sources and Uses and Net Change in Fund Balance 120 7 Assessed and Estimated Actual Value of Taxable Property 122 8 Property Tax Rates - Direct and Major Overlapping Governments 124 9 Ten Largest Taxpayers 127 10 Property Tax Levies and Collections 128 11 Outstanding Debt by Type 132 12 Computation of Direct and overlapping Debt 133 13 Demographic Statistics 136 14 Full Time Equivalent District Employees by Type 138 15 Operating Statistics 140 16 Principal Employers 141 17 Teacher Base Salaries 144 18 School Building Information 145 19 Federal Awards Section Independent Auditors’ 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 153 Independent Auditors’ Report on Compliance for Each Major Program and on Internal Control over Compliance Required by Uniform Guidance 155 Schedule of Findings and Questioned Costs 157 Schedule of Expenditures of Federal Awards 159 K-1 Notes to Schedule of Expenditures of Federal Awards 160 K-2 Summary Schedule of Prior Audit Findings 161 Corrective Action Plan 162 LEANDER INDEPENDENT SCHOOL DISTRICT Principal Officials and Advisors Board of Trustees Trustee Office Term Expires Aaron Johnson President 2022 Grace S. Barber-Jordan, M. Ed Vice President 2020 Trish Bode Secretary 2022 Pamela Waggoner Trustee 2020 Jim MacKay Trustee 2020 Elexis Grimes Trustee 2022 Gloria Gonzales-Dholakia Trustee 2022 Administrative Staff Official Position Dan Troxell, Ph.D. Superintendent of Schools Chief Officers Matt Smith Staff Matt Bentz, Ed.D. Academics Karie Lynn McSpadden Human Resources Corey Ryan Communications Lucas Janda Financial Jenny Wells Tanguma, J.D. General Counsel Jimmy Disler Facilities and Operations i CERTIFICATE OF THE BOARD Leander Independent School District Williamson 246-913 Name of School District County Co. - Dist. No. We, the undersigned, certify that the attached annual financial reports of the above named school district were reviewed and approved for the fiscal year ended August 31, 2018, at a meeting of the Board of Trustees of such school district on January 1, 2019. oc President of th Board Secretary of the Board 11 January 24, 2019 Board of Trustees Aaron Johnson President-Place 6 Mr. Aaron Johnson, President, and Grace S. Barber-Jordan, M.Ed. Members of the Board of Trustees, and Citizens of Vice President-Place 4 Leander Independent School District P.O. Box 218 Trish Bode Secretary-Place 1 Leander, Texas 78646-0218 Gloria Gonzales-Dohlakia Dear Mr. Johnson and Board Members, Trustee-Place 2 Pamela Waggoner The Financial Services Division is pleased to submit the Comprehensive Annual Trustee-Place 3 Financial Report (“CAFR”) for Leander Independent School District (the “District” or “LISD”), Leander, Texas, for the fiscal year ended August 31, 2018. Jim MacKay Trustee-Place 5 This report is published to provide the Board of Trustees (the “Board”), citizens Elexis Grimes of the District, bondholders, staff, and other interested parties with detailed Trustee-Place 7 information concerning the financial condition and activities of the District. Responsibility for the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the District. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and Dan Troxell, Ph.D. is reported in a manner designed to present fairly the financial position and results Superintendent of operations of the various funds of the District. All disclosures necessary to enable the reader to gain an understanding of the District’s financial activities Lucas Janda have been included. Chief Financial Officer The CAFR is comprised of an introductory, financial, and statistical section. The introductory section includes this transmittal letter, a listing of the District’s Board members, and an organizational chart of the District. The financial section includes Management’s Discussion and Analysis (“MD&A”), basic financial statements and combining and individual fund statements and schedules, and other supplementary information. Also included in the financial section is the independent auditors’ report on these financial statements. The MD&A is a narrative introduction, overview, and analysis to accompany the basic financial statements. This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The District’s MD&A can be found immediately following the report of the independent auditor. The statistical section includes selected financial and demographic information, generally presented on a multi-year basis relevant to a financial statement reader. The CAFR for the year ended August 31, 2018, is prepared in accordance with generally accepted accounting principles and in conformance with standards of financial reporting established by the Governmental Accounting Standards Board (“GASB”), and other professional associations, as applicable. iii PROFILE OF THE GOVERNMENT The District is an independent reporting entity under the criteria established in section 2100 of the GASB codification. Policymaking and supervisory functions are the responsibility of, and are vested in, a seven (7) member elected Board. Based on legislative authority codified in the Texas Education Code (TEC), the trustees: 1. Have the exclusive power to govern the District 2. Can acquire and hold real and personal property, sue and be sued, and hold all rights and titles to the school property 3. Have the power to levy and collect taxes, and to issue bonds 4. Can contract for appointed officers, teachers, and other personnel as well as for goods and services 5. Have the right of eminent domain to acquire real property necessary for the District. As an independent reporting entity, the District, through its Board, exercises control over all the activities related to public school education within its boundaries. This report includes all funds that are controlled by, or dependent upon, the Board. The District is not included in any other governmental “reporting entity” since the Board is elected by the public and has decision-making authority. The purpose and responsibility of the District is to provide a sound and effective educational system, offering early childhood education, pre-kindergarten,