Lafayette Consolidated Government the Consolidated Government of the City of Lafayette and the Parish of Lafayette, Louisiana
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Comprehensive Annual Financial Report For the year ended October 31, 2017 Lafayette Consolidated Government The consolidated government of the City of Lafayette and the Parish of Lafayette, Louisiana COMPREHENSIVE ANNUAL EINANCIAL REPORT Lafayette Innovation with an accent Lafayette City-Parish Consolidated Government Lafayette, Louisiana For the Fiscal Year Ended October 31, 2017 Prepared by: Office of Finance & Management Lorrie R. Toups, CPA, Chief Financial Officer LAFAYETTE CITY-PARISH CONSOLIDATED GOVERNMENT Lafayette, Louisiana Comprehensive Annual Financial Report For the Fiscal Year Ended October 31, 2017 TABLE OF CONTENTS Page(s) I. Introductory Section Letter of Transmittal vii-xv Certificate of Achievement for Excellence in Financial Reporting xvi Listing of Principal Elected and Administrative Officials xvii Organizational Chart xviii Office of Finance & Management Organizational Chart xix II. Financial Section Independent Auditor's Report 1-3 Management's Discussion and Analysis 4-15 Basic Financial Statements Government-Wide Financial Statements Statement of Net Position 17 Statement of Activities 18 Fund Financial Statements Governmental Funds: Balance Sheet 19 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 20 Statement of Revenues, Expenditures, and Changes in Fund Balances 21 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities 22 Proprietary Funds: Statement of Net Position 24-25 Reconciliation of the Proprietary Funds Statement of Net Position to the Statement of Net Position 26 Statement of Revenues, Expenses, and Changes in Fund Net Position 27 Reconciliation of the Statement of Revenues, Expenses, and Changes in Fund Net Position of Proprietary Funds to the Statement of Activities 28 Statement of Cash Flows 29-30 Fiduciary Funds: Statement of Fiduciary Net Position 32 Statement of Changes in Fiduciary Net Position 33 Discretely Presented Component Units: Combining Statement of Net Position 34 Combining Statement of Activities 35 Notes to the Basic Financial Statements Index 37 Notes to the Basic Financial Statements 38-98 LAFAYETTE CITY-PARISH CONSOLIDATED GOVERNMENT Lafayette, Louisiana Comprehensive Annual Financial Report For the Fiscal Year Ended October 31, 2017 TABLE OF CONTENTS Page(s) Required Supplementary Information Combined Budgetary Comparison Schedule - General Fund 99 Schedule of Funding Progress 100 Schedule of Employer's Share of Net Pension Liability 101 Schedule of Employer Contributions 102 Notes to the Required Supplementary Information 103-104 Other Supplementary Information General Funds: Combining Balance Sheet 105 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 106 Budgetary Comparison Schedule - City of Lafayette 107 Budgetary Comparison Schedule - Detail of Expenditures: City of Lafayette 108-117 Budgetary Comparison Schedule - Lafayette Parish 119 Budgetary Comparison Schedule - Detail of Expenditures: Lafayette Parish 120-123 Nonmajor Governmental Funds: Combining Balance Sheet - By Fund Type 124 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 125 Nonmajor Special Revenue Funds - Fund Descriptions 127-129 Combining Balance Sheet 130-135 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 136-141 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget (GAAP Basis) and Actual: Road and Bridge Maintenance 142 Parishwide Drainage Maintenance 143 Adult Correctional Facility Maintenance 144 Courthouse and Jail Maintenance 145 Juvenile Detention Home Maintenance 146 Combined Public Health 147 Health Unit Maintenance 148 Mosquito Abatement and Control 149 Lafayette Parish Public Library 150 Municipal Transit System 151 LAFAYETTE CITY-PARISH CONSOLIDATED GOVERNMENT Lafayette, Louisiana Comprehensive Annual Financial Report For the Fiscal Year Ended October 31, 2017 TABLE OF CONTENTS Page(s) Recreation and Parks 152 Golf Courses 153 Natural History Museum and Planetarium 154 Heymann Performing Arts Center 155 Animal Shelter and Care Center 156 Parking Program 157 Codes and Permits 158 Coroner's Expense 159 War Memorial 160 Criminal Court 161 Criminal Justice Support Services 162 Justice Department Federal Equitable Sharing 163 Traffic Safety 164 Narcotics Seized/Forfeited Property 165 1961 Sales Tax Trust 166 1985 Sales Tax Trust 167 TIF Sales Tax Trusts 168 Community Development Grants 169 Federal Transportation and Planning Grants 170 Other Federal Grants 171 -172 Other State Grants 173 Nonmajor Debt Service Funds - Fund Descriptions 175 Combining Balance Sheet 176-177 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 178-179 Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget (GAAP Basis) and Actual: 1961 Sales Tax Bonds Sinking Fund 180 1961 Sales Tax Bonds Reserve Fund 181 1985 Sales Tax Bonds Sinking Fund 182 1985 Sales Tax Bonds Reserve Fund 183 Contingencies Sinking Fund 184 Certificates of Indebtedness, Series 2011 Sinking Fund 185 Limited Tax Series 2012 Refund Bond Sinking Fund 186 Nonmajor Capital Projects Funds - Fund Descriptions 187 Combining Balance Sheet 188 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 189 111 LAFAYETTE CITY-PARISH CONSOLIDATED GOVERNMENT Lafayette, Louisiana Comprehensive Annual Einancial Report For the Fiscal Year Ended October 31, 2017 TABLE OF CONTENTS Page(s) Table Schedule of Expenditures Compared to Capital Budget: 1961 City Sales Tax Bond Construction 190 1985 City Sales Tax Bond Construction 191 City Combined Bond Construction 192-194 Parish General Obligation Bond Construction 195 Nonmajor Enterprise Funds; Fund Descriptions 197 Combining Statement of Net Position 198 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position 199 Combining Statement of Cash Flows 200 Internal Service Funds: Fund Deseriptions 201 Combining Statement of Net Position 202 Combining Statement of Revenues, Expenses, and Changes in Fund Net Position 203 Combining Statement of Cash Flows 204 Nonmajor Discretely Presented Component Units: Combining Statement of Net Position 206-207 Combining Statement of Activities 208-209 Statement of Revenues, Expenses, and Changes in Fund Net Position - Utilities System Fund 211 III. Statistical Section (Unaudited) Statistical Section Index 213 Financial Trends - General Governmental Revenues by Source, Last Ten Fiscal Years 214-215 1 General Governmental Expenditures by Function, Last Ten Fiscal Years 216-217 2 Net Position by Component, Last Ten Fiscal Years 218-219 3 Changes in Net Position, Last Ten Fiscal Years 220-223 4 Fund Balances, Governmental Funds, Last Ten Fiscal Years 224-225 5 Changes in Fund Balances of Governmental Funds, Last Ten Fiscal Years 226-227 6 Revenue Capacity - General Governmental Tax Revenues by Source, Last Ten Fiscal Years 228-229 7 Assessed and Estimated Actual Value of Taxable Property, Last Ten Fiscal Years 230-231 8 Direct and Overlapping Property Tax Rates, Last Ten Fiscal Years 232 9 Parish Property Tax Rates, Last Ten Fiscal Years of Collection 233 10 Governmental Funds Gross Sales Tax Revenue, Last Ten Fiscal Years 234 11 Property Tax Levies and Collections, Last Ten Fiscal Years 235 12 Principal Property Taxpayers - Lafayette Parish, Current & Nine Years Ago 236 13 IV LAFAYETTE CITY-PARISH CONSOLIDATED GOVERNMENT Lafayette, Louisiana Comprehensive Annual Financial Report For the Fiscal Year Ended October 31, 2017 TABLE OE CONTENTS Page(s) Table Principal Property Taxpayers - City of Lafayette, Cunent & Eight Years Ago 237 14 Summary of Ad Valorem Tax Assessments and Collections City of Lafayette & Lafayette Parish 238-239 15 Debt Capacity - Calculation of Legal General Obligation Debt Margin, Last Ten Fiscal Years 240 16 Outstanding Debt by Type, Last Ten Fiscal Years 241 17 Ratios of General Bonded Debt, Last Ten Fiscal Years 242-243 18 Computation of Direct and Overlapping Debt 244 19 Ratio of Sales Taxes Debt Coverage, Last Ten Fiscal Years 245 20 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures, Last Ten Fiscal Years 246 21 Revenue Bond Coverage - Electric, Water, and Sewer Bonds, Last Ten Fiscal Years 247 22 Revenue Bond Coverage - Communications System, Last Ten Fiscal Years 248 23 Demographic and Economic Information - Demographic Statistics, Last Ten Fiscal Years 249 24 Principal Employers, Current & Nine Years Ago 250 25 Operating Information - Special Assessment Billings & Collections, Last Ten Fiscal Years 251 26 Budgeted Position Employees By Fund/Department, Last Ten Fiscal Years 252-253 27 Operating Indicators by Function, Last Ten Fiscal Years 254-255 28 Capital Asset Statistics by Function, Last Ten Fiscal Years 256 29 IV. Single Audit 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 257-258 Independent Auditor's Report on Compliance for Each Major Federal Program and on Internal Control Over Compliance Required by the Uniform Guidance 259-260 Schedule of Expenditures of Federal Awards 261-263 Notes to the Schedule of Expenditures of Federal Awards 264 Schedule of Findings and Questioned Costs 265-266 Summary Schedule of Current and Prior Year Audit Findings and Management's Corrective Action Plan 268-273 Lafayette CONSOLIDATED GOVERNMENT