For the Year Ended December 31, 2019
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Comprehensive Annual Financial Report For the Year Ended December 31, 2019 This Page Intentionally Left Blank ROSS COUNTY, OHIO Comprehensive Annual Financial Report For the Year Ended December 31, 2019 Prepared by the Ross County Auditor’s Office Thomas M. Spetnagel, Jr. Ross County Auditor This Page Intentionally Left Blank Ross County, Ohio Comprehensive Annual Financial Report Table of Contents For the Year Ended December 31, 2019 I. INTRODUCTORY SECTION PAGE Transmittal Letter ...................................................................................................................... 1 GFOA Certificate of Achievement ........................................................................................... 7 Elected Officials ........................................................................................................................ 8 Organizational Chart ................................................................................................................. 9 II. FINANCIAL SECTION Independent Auditor’s Report ................................................................................................... 11 Management’s Discussion and Analysis ................................................................................... 15 BASIC FINANCIAL STATEMENTS: GOVERNMENT-WIDE FINANCIAL STATEMENTS: Statement of Net Position ............................................................................................ 27 Statement of Activities ................................................................................................. 28 FUND FINANCIAL STATEMENTS: Balance Sheet – Governmental Funds ......................................................................... 30 Reconciliation of Total Governmental Fund Balances to Net Position of Governmental Activities........................................................... 33 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds .............................................................. 34 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ............. 37 Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (Budget Basis): General Fund ................................................................................................... 38 Motor Vehicle Gas Tax Fund .......................................................................... 46 Board of Developmental Disabilities Fund ..................................................... 47 Statement of Fund Net Position – Proprietary Funds ................................................... 48 Statement of Revenues, Expenses and Changes in Fund Net Position – Proprietary Funds ............................................................. 49 Statement of Cash Flows – Proprietary Funds ............................................................. 50 Statement of Fiduciary Net Position – Fiduciary Funds .............................................. 51 Statement of Changes in Fiduciary Net Position – Fiduciary Fund ............................. 52 Notes to the Basic Financial Statements ............................................................................. 53 REQUIRED SUPPLEMENTARY INFORMATION: Schedule of the County’s Proportionate Share of the Net Pension/OPEB Liability - OPERS ................................................................... 110 Schedule of the County’s Proportionate Share of the Net Pension/OPEB Liability - STRS ..................................................................... 112 Ross County, Ohio Comprehensive Annual Financial Report Table of Contents For the Year Ended December 31, 2019 II. FINANCIAL SECTION (Continued) REQUIRED SUPPLEMENTARY INFORMATION (Continued): Schedule of County Pension Contributions - OPERS............................................... 114 Schedule of County OPEB Contributions - OPERS.................................................. 116 Schedule of County Contributions - STRS............................................................... 118 Notes to the Required Supplementary Information................................................... 120 COMBINING STATEMENTS AND INDIVIDUAL FUND SCHEDULES: NONMAJOR GOVERNMENTAL FUNDS: Fund Descriptions – Nonmajor Governmental Funds .................................................. 122 Combining Balance Sheet – Nonmajor Governmental Funds ..................................... 128 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds ............................................. 129 Combining Balance Sheet – Nonmajor Special Revenue Funds ................................. 130 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Special Revenue Funds ......................................... 136 Combining Balance Sheet – Nonmajor Capital Projects Funds ................................... 142 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Capital Projects Funds .......................................... 144 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (Budget Basis): Nonmajor Governmental Funds ...................................................................... 146 NONMAJOR PROPRIETARY FUNDS: Fund Descriptions – Nonmajor Proprietary Funds ...................................................... 192 Schedule of Revenues, Expenses and Changes in Fund Equity – Budget and Actual (Budget Basis): Nonmajor Proprietary Funds ........................................................................... 193 NONMAJOR FIDUCIARY FUNDS: Fund Descriptions – Nonmajor Fiduciary Funds ......................................................... 195 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual (Budget Basis): Nonmajor Private Purpose Trust Fund ............................................................ 197 Combining Statement of Changes in Assets and Liabilities – All Agency Funds .................................................................................................. 198 Ross County, Ohio Comprehensive Annual Financial Report Table of Contents For the Year Ended December 31, 2019 III. STATISTICAL SECTION Table 1 – Net Position by Component ...................................................................................... 206 Table 2 – Changes in Net Position ............................................................................................ 208 Table 3 – Fund Balances – Governmental Funds ..................................................................... 210 Table 4 – Changes in Fund Balances – Governmental Funds ................................................... 212 Table 5 – Assessed and Estimated Actual Value of Taxable Property ..................................... 214 Table 6 – Real Property Value and Construction ...................................................................... 216 Table 7 – Property Taxes on a $100,000 Owner-Occupied Home or a Business ..................... 217 Table 8 – Property Tax Rates .................................................................................................... 218 Table 9 – Property Tax Rates of Overlapping Governments .................................................... 220 Table 10 – Principal Taxpayers ................................................................................................. 222 Table 11 – Property Tax Levies and Collections ...................................................................... 223 Table 12 – Major General Fund Revenue Sources ................................................................... 224 Table 13 – Ratios of Outstanding Debt by Type ....................................................................... 225 Table 14 – Computation of Direct and Overlapping Debt Attributable to Governmental Activities ................................................ 226 Table 15 – Ratio of Debt to Assessed Value and Debt per Capita ............................................ 227 Table 16 – Computation of Legal Debt Margin ........................................................................ 228 Table 17 – Demographic and Economic Statistics .................................................................... 230 Table 18 – Principal Employers ................................................................................................ 231 Table 19 – County Government Employees by Function/Activity ........................................... 232 Table 20 – Operating Indicators and Capital Asset Statistics ................................................... 233 Back of Introductory Section Divider Back of Introductory Section Divider August 18, 2020 Honorable Citizens of Ross County, Ohio And Ross County Board of Commissioners: Honorable R. Douglas Corcoran Honorable Stephen A. Neal Honorable Dwight A. Garrett As Auditor of Ross County, Ohio, I am pleased to present the County’s Comprehensive Annual Financial Report (CAFR) for the year ended December 31, 2019. This report conforms to generally accepted accounting principles (GAAP) as applicable to governmental entities. The responsibility for the accuracy of the data presented, as well as the completeness and fairness of the presentation including disclosures, rests with the management of the County. The County has a framework of internal controls established to ensure the accuracy of