Comprehensive Annual Financial Report
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Comprehensive Annual Financial Report Board of Education Big Walnut Local School District Sunbury, Ohio For the Fiscal Year Ended June 30, 2019 Introduction BIG WALNUT LOCAL SCHOOL DISTRICT SUNBURY, OHIO COMPREHENSIVE ANNUAL FINANCIAL REPORT For The Fiscal Year Ended June 30, 2019 Prepared By: Treasurer’s Office Jeremy Buskirk, Treasurer i This Page Intentionally Left Blank ii BIG WALNUT LOCAL SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2019 TABLE OF CONTENTS INTRODUCTORY SECTION Title Page ............................................................................................................................................ i Table of Contents ............................................................................................................................... iii Letter of Transmittal ........................................................................................................................... vii Certificate of Achievement................................................................................................................. xii Organizational Chart .......................................................................................................................... xiii Big Walnut Local School District Principal Officials ........................................................................ xiv FINANCIAL SECTION Independent Auditor’s Report ............................................................................................................ 1 General Purpose External Financial Statements Management’s Discussion and Analysis...................................................................................... 5 Basic Financial Statements Government-Wide Financial Statements Statement of Net Position ............................................................................................... 15 Statement of Activities .................................................................................................... 16 Fund Financial Statements Balance Sheet - Governmental Funds ............................................................................. 19 Reconciliation of Total Governmental Fund Balances to Net Position of Governmental Activities .................................................................... 20 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds ........................................................................ 21 Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to Statement of Activities .................................................................................................... 22 Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget (Non-GAAP Budgetary Basis) and Actual: General Fund ............................................................................................................ 24 iii TABLE OF CONTENTS (continued) FINANCIAL SECTION (continued) Statement of Fiduciary Assets and Liabilities - Agency Funds ................................................................................................................. 25 Notes to the Basic Financial Statements ............................................................................... 26 Required Supplementary Information Schedule of the School District’s Proportionate Share of the Net Pension Liability - School Employees Retirement System of Ohio .............................................................. 78 State Teachers Retirement System of Ohio .................................................................... 80 Schedule of the School District’s Proportionate Share of the Net OPEB Liability - School Employees Retirement System of Ohio .............................................................. 82 State Teachers Retirement System of Ohio .................................................................... 83 Schedule of the School District’s Contributions - School Employees Retirement System of Ohio .............................................................. 84 State Teachers Retirement System of Ohio .................................................................... 86 Notes to the Required Supplementary Information ............................................................... 88 Combining Statements and Individual Fund Schedules ..................................................................... 91 Combining Statements - Nonmajor Governmental Funds Fund Descriptions.................................................................................................................. 93 Combining Balance Sheet - Nonmajor Governmental Funds ............................................... 95 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds ............................................................. 101 Combining Statements - Agency Funds Fund Descriptions.................................................................................................................. 107 Combining Statement of Changes in Assets and Liabilities - Agency Funds ........................................................................................................................ 108 Individual Fund Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget (Non-GAAP Budgetary Basis) and Actual ........................................ 109 Major Funds .......................................................................................................................... 110 Nonmajor Funds .................................................................................................................... 116 iv TABLE OF CONTENTS (continued) STATISTICAL SECTION Net Position - Last Ten Fiscal Years ......................................................................................................................... S-2 Changes in Net Position - Last Ten Fiscal Years ......................................................................................................................... S-4 Fund Balances - Governmental Funds - Last Ten Fiscal Years ......................................................................................................................... S-6 Changes in Fund Balances - Governmental Funds - Last Ten Fiscal Years ......................................................................................................................... S-8 Assessed and Estimated Actual Value of Taxable Property - Last Ten Years .................................................................................................................................... S-12 Property Tax Rates - Direct and All Overlapping Governments - Last Ten Years .................................................................................................................................... S-14 Real Property Tax Levies and Collections - Last Ten Years .................................................................................................................................... S-18 Tangible Personal Property Tax Levies and Collections - Last Ten Years .................................................................................................................................... S-19 Principal Taxpayers - Real Property - Current Year and Nine Years Ago ..................................................................................................... S-20 Principal Taxpayers - Public Utility Personal Property - Current Year and Nine Years Ago ..................................................................................................... S-21 Ratios of Outstanding Debt by Type - Last Ten Fiscal Years ......................................................................................................................... S-22 Ratio of General Bonded Debt to Estimated Actual Value and Bonded Debt Per Capita - Last Ten Fiscal Years ......................................................................................................................... S-23 Computation of Direct and Overlapping Debt ................................................................................... S-25 Computation of Legal Debt Margin - Last Ten Fiscal Years ......................................................................................................................... S-26 Demographic Statistics - Last Ten Years .................................................................................................................................... S-28 Principal Employers - Current Year and Nine Years Ago ..................................................................................................... S-29 v TABLE OF CONTENTS (continued) STATISTICAL SECTION (continued) School District Employees by Function/Program - Last Ten Fiscal Years ......................................................................................................................... S-30 Per Pupil Cost - Last Ten Fiscal Years ......................................................................................................................... S-33 School Building Statistics - Last Ten Fiscal Years ......................................................................................................................... S-34 Full-Time Equivalent Teachers by Education - Last Ten Fiscal Years ........................................................................................................................