City of Jacksonville Comprehensive Annual Financial Report Fiscal Year 2018 CCITY of JJACKSONVILLE,, FFLORIDA
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City of jacksonville Comprehensive Annual Financial Report Fiscal Year 2018 CCITY OF JJACKSONVILLE,, FFLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2018 PREPARED BY THE DEPARTMENT OF FINANCE ACCOUNTING DIVISION DRAFT (This page is intentionally left blank.) City of Jacksonville, Florida Comprehensive Annual Financial Report For the Fiscal Year Ended September 30, 2018 TABLE OF CONTENTS INTRODUCTORY SECTION LETTER OF TRANSMITTAL .............................................................................................. i – xvi CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING ............................................................................................ xviii ORGANIZATIONAL CHART ................................................................................................... xix LISTING OF CITY OFFICERS, CONSTITUTIONAL OFFICEHOLDERS, AND CITY COUNCIL OFFICIALS AND STAFF ....................................................... xx - xxi FINANCIAL SECTION REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS ..............................1 – 3 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 .......................................................................................................4 – 5 MANAGEMENT'S DISCUSSION AND ANALYSIS ........................................................... 7 - 20 BASIC FINANCIAL STATEMENTS CITYWIDE FINANCIAL STATEMENTS Statement of Net Position ..............................................................................................................22 Statement of Activities ...................................................................................................................23 FUND FINANCIAL STATEMENTS Balance Sheet - Governmental Funds .................................................................................... 28 - 29 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position .....................................................................................31 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds ........................................................................................................ 32 - 33 FINANCIAL SECTION (CONTINUED) Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds to the Statement of Activities .................................34 Statement of Net Position - Proprietary Funds ...................................................................... 36 - 37 Statement of Revenues, Expenses and Changes in Fund Net Position - Proprietary Funds .....................................................................................................................39 Statement of Cash Flows - Proprietary Funds ....................................................................... 40 - 43 Statement of Fiduciary Net Position ..............................................................................................46 Statement of Changes in Fiduciary Net Position ...........................................................................47 MAJOR COMPONENT UNITS Combining Statement of Net Position – Component Units ................................................... 50 - 51 Combining Statement of Activities – Component Units ...................................................... 52 - 53 NOTES TO THE FINANCIAL STATEMENTS ............................................................. 55 -157 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General Fund .........................................................................................160 Notes to Required Supplemental Information ................................................................... 161 - 162 Schedule of Contributions - City of Jacksonville Retirement System.................................................................................163 Schedule of Changes in Net Pension Liability - City of Jacksonville Retirement System........................................................................ 164 -165 Schedule of Money-Weighted Rate of Return City of Jacksonville Retirement System.................................................................................166 Notes to Required Supplementary Information - City of Jacksonville Retirement System....................................................................... 167 - 168 Schedule of the City’s Proportionate Share of Net Pension Liability ..............................................................................................................169 FINANCIAL SECTION (CONTINUED) Schedule of Contributions - Police and Fire Retirement System ........................................................................................170 Schedule of Contributions - Police and Fire Pension Fund, Senior Staff Voluntary Retirement Plan ................................171 Schedule of Changes in Net Pension Liability - Police and Fire Retirement System .............................................................................. 172 - 173 Schedule of Changes in Net Pension Liability - Police and Fire Pension Fund, Senior Staff Voluntary Retirement Plan ................................174 Schedule of Money-Weighted Rate of Return Police and Fire Retirement System ........................................................................................175 Schedule of City Contributions - Employment Benefits Other than Pension (OPEB) ...............................................................176 Schedule of Changes in Net OPEB Liability - Employment Benefits Other than Pension (OPEB) ...............................................................177 Notes to Required Supplementary Information - Employment Benefits Other than Pension (OPEB) ..................................................... 178 - 180 COMBINING INDIVIDUAL FUND STATEMENTS AND SCHEDULES GOVERNMENTAL FUNDS Combining Balance Sheet - Nonmajor Governmental Funds ...................................... 184 - 190 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds ............................... 192 - 198 Budgetary Comparison Schedules - Nonmajor Governmental Funds ......................... 200 - 207 PROPRIETARY FUNDS Combining Statement of Net Position - Nonmajor Enterprise Funds .......................... 210 - 211 Combining Statement of Revenues, Expenses and Changes in Fund Net Position - Nonmajor Enterprise Funds ................................ 212 - 213 Combining Statement of Cash Flows - Nonmajor Enterprise Funds ........................... 214 - 217 FINANCIAL SECTION (CONTINUED) INTERNAL SERVICE FUNDS Combining Statement of Net Position - Internal Service Funds .................................. 220 - 221 Combining Statement of Revenues, Expenses and Changes in Fund Net Position - Internal Service Funds ........................................ 222 - 223 Combining Statement of Cash Flows - Internal Service Funds ................................... 224 - 227 FIDUCIARY FUNDS PENSION TRUST FUNDS Combining Statement of Fiduciary Net Position - Pension Trust Funds .........................230 Combining Statement of Changes in Fiduciary Net Position - Pension Trust Funds ....................................................................................................231 AGENCY FUNDS Combining Statement of Fiduciary Assets and Liabilities - Agency Funds .................................................................................................... 232 - 233 Combining Statement of Changes in Assets and Liabilities Fiduciary Funds - All Agency Funds .............................................................................................. 234 - 236 COMPONENT UNITS Balance Sheet – Jacksonville Housing Finance Authority ....................................................238 Statement of Revenues, Expenditures and Changes in Fund Balances - Jacksonville Housing Finance Authority...........................................................................239 FINANCIAL SECTION (CONTINUED) SUPPLEMENTAL INFORMATION Schedule of Long-Term Bonded Indebtedness ............................................................ 242 - 247 Schedule of Debt Service Requirements Compared to Cash in Sinking Fund Long-Term Obligations .................................................. 248 - 251 Schedule of Debt Service Requirements to Maturity - Governmental Activities Revenue Bonds Supported by General Fund ......................................................... 252 - 259 Schedule of Debt Service Requirements to Maturity - Governmental Activities Special Revenue Bonds Supported by Better Jacksonville Plan Revenues ........... 260 - 263 Schedule of Debt Service Requirements to Maturity - Governmental Activities Revenue Bonds Supported by Better Jacksonville Plan Revenues ........................ 264 - 267 Schedule of Debt Service Requirements to Maturity - Governmental Activities Notes Payable Supported by Better Jacksonville Plan Revenues ....................................268 Schedule of Debt Service Requirements to Maturity - Governmental Activities Special Revenue Bonds and Notes Payable from Internal Service Operations ..... 270 - 275 Schedule of Debt Service Requirements to Maturity - Payable from