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2018 Comprehensive Annual Financial Report

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2018 Comprehensive Annual Financial Report Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2018 CHATSWORTH WATER WORKS COMMISSION SOLAR ARRAY Chatsworth, Georgia Submitted by the Georgia Environmental Finance Authority The Chatsworth Water Works Commission (CWWC) is committed to providing the best water and wastewater services at the lowest possible rates for its customers. The CWWC received a Georgia Environmental Finance Authoritv loan of $3 million to finance a 1 megawatt (MW) solar photovoltaic system. The solar array generates electricity to run the utility's main office and the wastewater treatment plant. T~e projected savings over the next 25 years are approximately $5.5 to $6 million. Inman Solar worked with CWWC to install the solar array. Photograph provided by Inman Solar. Comprehensive Annual Financial Report For the fiscal year ended June 30, 2018 ~7olffi fill mJ§lo~~ 0 0 Oo 0000 O 1776 Prepared by: State Accounting Office State of Georgia Table of Contents For the Fiscal Year Ended June 30, 2018 INTRODUCTORY SECTION Letter of Transmittal................................................................................................................................................................ i Organizational Chart............................................................................................................................................................... v Principal State Officials.......................................................................................................................................................... vii Certificate of Achievement..................................................................................................................................................... ix Acknowledgements................................................................................................................................................................. xi FINANCIAL SECTION Independent Auditor's Report.................................................................................................................................................. 1 Management’s Discussion and Analysis................................................................................................................................. 7 Basic Financial Statements Government-wide Financial Statements Statement of Net Position................................................................................................................................................ 29 Statement of Activities..................................................................................................................................................... 32 Fund Financial Statements Governmental Funds Balance Sheet............................................................................................................................................................... 34 Reconciliation of Fund Balances to the Statement of Net Position............................................................................. 35 Statement of Revenues, Expenditures, and Changes in Fund Balances...................................................................... 36 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds to the Statement of Activities......................................................................... 37 Proprietary Funds Statement of Net Position............................................................................................................................................. 38 Statement of Revenues, Expenses, and Changes in Fund Net Position....................................................................... 41 Statement of Cash Flows.............................................................................................................................................. 42 Fiduciary Funds Statement of Fiduciary Net Position............................................................................................................................ 44 Statement of Changes in Fiduciary Net Position......................................................................................................... 45 Component Units Statement of Net Position............................................................................................................................................. 46 Statement of Activities................................................................................................................................................. 50 Notes to the Financial Statements Index............................................................................................................................. 53 Notes to the Financial Statements....................................................................................................................................... 54 Required Supplementary Information Budgetary Comparison Schedule........................................................................................................................................ 222 Budget to GAAP Reconciliation......................................................................................................................................... 224 Notes to Required Supplementary Information - Budgetary Comparison.......................................................................... 226 Public Entity Risk Pool....................................................................................................................................................... 228 Required Supplementary Information - Pensions Schedules of Employers’ and Nonemployers’ Contributions - Defined Benefit Pension Plans..................................... 230 Schedules of Employers’ and Nonemployers’ Net Pension Liability - Defined Benefit Pension Plans........................ 231 Schedules of Changes in Employers’ and Nonemployers’ Net Pension Liability - Defined Benefit Pension Plans...... 232 Schedule of Investment Returns - Defined Benefit Pension Plans................................................................................. 235 Notes to Required Supplementary Information - Defined Benefit Pension Plans - Methods and Assumptions............ 236 Schedules of State’s Contributions - As Employer - Defined Benefit Pension Plans.................................................... 239 Schedules of State’s Contributions - As Nonemployer Contributing Entity - Defined Benefit Pension Plans.............. 240 Schedules of State’s Proportionate Share of the Net Pension Liability - As Employer.................................................. 241 Schedules of State’s Proportionate Share of the Net Pension Liability - As Nonemployer Contributing Entity - Defined Benefit Pension Plans........... 242 Notes to Required Supplementary Information - Defined Benefit Pension Plans - Methods and Assumptions............ 243 State of Georgia Table of Contents For the Fiscal Year Ended June 30, 2018 Required Supplementary Information - Other Postemployment Benefits Schedule of Employers’ Contributions - Multi-Employer and Single-Employer OPEB Plans....................................... 248 Schedule of Employers’ Net OPEB Liability - Multi-Employer and Single-Employer OPEB Plans............................. 250 Schedule of Changes in Employers’ Net OPEB Liability - Multi-Employer and Single-Employer OPEB Plans.......... 251 Schedule of Investment Returns - Multi-Employer and Single-Employer OPEB Plans................................................. 253 Notes to Required Supplementary Information - Methods and Assumptions - Multi-Employer and Single-Employer OPEB Plans...................................................................................................................................................................... 254 Schedules of State's Contributions - As Employer - Multi-Employer and Single-Employer OPEB Plans..................... 257 Schedules of State's Proportionate Share of the Net OPEB Liability - As Employer...................................................... 258 Schedule of Net OPEB Liability - As Employer - Single-Employer OPEB Plans.......................................................... 259 Schedule of Changes in Net OPEB Liability - As Employer - Single-Employer OPEB Plans....................................... 260 Notes to Required Supplementary Information - Methods and Assumption - Multi-Employer and Single-Employer OPEB Plans...................................................................................................................................................................... 261 Supplementary Information - Combining and Individual Fund Statements Nonmajor Governmental Funds Description of Nonmajor Governmental Funds............................................................................................................... 267 Combining Balance Sheet................................................................................................................................................ 268 Combining Statement of Revenues, Expenditures and Changes in Fund Balances........................................................ 269 Nonmajor Enterprise Fund Description of Nonmajor Enterprise Funds..................................................................................................................... 273 Combining Statement of Net Position............................................................................................................................
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