|Carter County Board of Education|A01581|Audit

Total Page:16

File Type:pdf, Size:1020Kb

|Carter County Board of Education|A01581|Audit CARTER COUNTY SCHOOL DISTRICT FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION FOR THE FISCAL YEAR ENDED JUNE 30, 2019 CARTER COUNTY SCHOOL DISTRICT TABLE OF CONTENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2019 Page Independent Auditors' Report 1 Management’s Discussion and Analysis 4 Basic Financial Statements: Statement of Net Position 9 Statement of Activities 10 Balance Sheet – Governmental Funds 11 Reconciliation of the Balance Sheet – Governmental Funds to 12 the Statement of Net Position Statement of Revenues, Expenditures, and Changes in Fund 13 Balance – Governmental Funds Reconciliation of the Statement of Revenues, Expenditures, and Changes 14 in Fund Balance of Governmental Funds to the Statement of Activities Statement of Net Position – Proprietary Funds 15 Statement of Revenues, Expenditures, and Changes in Net 16 Position – Proprietary Funds Statement of Cash Flows – Proprietary Funds 17 Statement of Net Position – Fiduciary Funds 18 Statement of Changes in Fiduciary Net Position – Fiduciary Funds 19 Notes to the Basic Financial Statements 20 Required Supplementary Information: Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget 56 and Actual – (Non-GAAP Budgetary Basis) – General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget 57 and Actual – (Non-GAAP Budgetary Basis) – Special Revenue Fund Schedule of District's Proportionate Share of the Net Pension Liability 58 Schedule of Pension Contributions 59 CARTER COUNTY SCHOOL DISTRICT TABLE OF CONTENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2019 Notes to Pension Required Supplementary Information 60 Schedule of District’s Proportionate Share of the Net OPEB Liability 61 Schedule of OPEB Contributions 63 Notes to OPEB Required Supplementary Information 65 Other Information: Combining Balance Sheet – Non-Major Governmental Funds 68 Combining Statement of Revenues, Expenditures, and Changes in 69 Fund Balances – Non-Major Governmental Funds Statement of Changes in Assets and Liabilities – School Activity and 70 Trust Funds Statement of Changes in Assets and Liabilities – School Activity Funds 71 East Carter County High School Statement of Changes in Assets and Liabilities – School Activity Funds 72 West Carter County High School Schedule of Expenditures of Federal Awards 73 Notes to the Schedule of Expenditures of Federal Awards 74 Independent Auditors’ Report on Internal Control Over Financial Reporting 76 and on Compliance and Other Matters Based on An Audit of Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditors’ Report on Compliance for Each Major Fund Program and 78 On Internal Control Over Compliance Required By The Uniform Guidance Schedule of Findings and Questioned Costs 81 Schedule of Prior Year Audit Findings 82 Corrective Action Plan 83 Independent Auditors' Transmittal Letter for Management Letter Points 84 Management Letter Points 85 INDEPENDENT AUDITORS' REPORT Kentucky State Committee for School District Audits Members of the Board of Education Carter County School District Grayson, Kentucky Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Carter County School District as of and for the year ended June 30, 2019, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and the audit requirements prescribed by the Kentucky State Committee for School District Audits in the "Auditor Responsibilities" Section of the Kentucky Public School Districts’ Audit Contract and Requirements. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s 1 internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Carter County School District, as of June 30, 2019, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, and pension and OPEB information on pages 4 through 8 and 56 through 63 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Carter County School District’s basic financial statements. The combining and individual nonmajor fund financial statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. The statements of changes in assets and liabilities – school activity funds are presented for purposes of additional analysis and are not a required part of the basic financial statements. The schedule of expenditures of federal awards is presented for purposes of additional analysis as required Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 2 These statements and schedule are management’s responsibility, and derive from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. We subjected these statements and schedules to the auditing procedures we applied to the basic financial statements. We also applied certain additional procedures, including comparing and reconciling schedules directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves in accordance with auditing standards generally accepted in the United States of America. In our opinion, these statements and schedules are fairly stated in all material respects in relation to the basic financial statements taken as a whole. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 13, 2019, on our consideration of the District's internal control over financial reporting and our testing
Recommended publications
  • The Athlete, December 1986 Kentucky High School Athletic Association
    Eastern Kentucky University Encompass The Athlete Kentucky High School Athletic Association 12-1-1986 The Athlete, December 1986 Kentucky High School Athletic Association Follow this and additional works at: http://encompass.eku.edu/athlete Recommended Citation Kentucky High School Athletic Association, "The Athlete, December 1986" (1986). The Athlete. Book 314. http://encompass.eku.edu/athlete/314 This Article is brought to you for free and open access by the Kentucky High School Athletic Association at Encompass. It has been accepted for inclusion in The Athlete by an authorized administrator of Encompass. For more information, please contact [email protected]. December, 1986 Qrcetv.YVg? Seas0VV $U$ t\ve )\ oar awa$ tVt N-k K tt-S CTP Official Publication of The Kentucky High School Athletic Association Member Of National Federation of State High School Associations 1 DELEGATE ASSEMBLY MEMBERS Members of the Delegate Assembly at the forthcoming 1987 annual meeting of the Association were elected by the Board appointed state representatives of the K.H.S.A.A. There were several ties in the voting for delegate and alternate. These ties were broken recently, with the delegates and alternates determined by lot. Article IV, Section 2-c, of the Constitution states in the last sentence, "If the duly elected delegate or alternate does not answer the roll call at the annual meeting of the Delegate Assembly, the district shall remain not represented". The name of the district representatives and alternates are as follows: No. Delegate School/System Alternate School/System 1 Burley Mathis Carlisle County Larry Gardner Fulton County 2 Robert Vannerson Reidland Joe Mathis Reidland 3 Jerald Ellington Graves County Donald Jones Graves County 4 Jerry Ainley Calloway County Gene Brooks Marshall County 5 Kent Barnes Crittenden County Jim Edwards Livingston Central 6 Richard Vincent Union County Howard Crittenden Henderson County 7 William H.
    [Show full text]
  • Kentucky Scholarships
    State Government Kentucky Scholarships Federal Government Many Kentucky businesses and organizations have set up financial aid programs to help Kentuckians with their college costs. Some Public Universities are available statewide, while others are limited to several counties, one county or one school. KHEAA has gathered information on as many of these programs as we can. Statewide programs are listed first, then county-specific programs. Private Colleges, Universities, and Seminaries Two-Year Public Colleges Trade Schools Kentucky Scholarships Index 245 Kentucky Scholarships Statewide Number: 2 Deadline: July 15 for fall semester; Novem- Statewide Deadline: March 1 ber 15 for spring semester Contact: Jessica England, scholarships@ Contact: Scholarship Coordinator, APSC Horatio Alger Kentucky Scholarship aaflouisville.org, www.aaflouisville.org/ Foundation for Education & Research Inc., Eligibility: Must be enrolled full time as scholarship 102 Enterprise Drive, Frankfort, KY 40601; a high school senior in Kentucky, plan to 502.695.8899; www.apscnet.com enter a college in the U.S. no later than the Bud Ballard Scholarship ____________________________________________ fall following graduation, demonstrate a ********** Asphalt Institute Foundation: strong commitment to pursuing and com- Diversity Scholarship Bill and Shireen Kirk Scholarship pleting a bachelor’s degree at an accredited Eligibility: Must be a U.S. citizen of African, Eligibility: Must reside in Florida, Georgia, non-profit public or private institution in the Hispanic, Native American, Asian, Middle Kentucky, Maryland, New Jersey, New York, United States, demonstrate financial need, Eastern or Pacific Island descent. North Carolina, Pennsylvania, South Caro- be involved in cocurricular and community ____________________________________________ lina, Tennessee, Virginia or West Virginia; be service activities, demonstrate integrity and American Welding a full-time student unless a written exception perseverance in overcoming adversity, main- Society Foundation Inc.
    [Show full text]
  • MSU Vs. Tennessee-Martin December 16, 1991
    Morehead State University EAGLE BASKETBALL MSU vs. Tennessee-Martin December 16, 1991 Official Program $1.00 Senior Forward Brett Roberts scored his l ,000th career point on Nov. 22 against West Virginia State CASKEY'S JEWELRY Jewelry Sold At Wholesale Prices Everyday!! • Excellent selection 14K Chains, Bracelets, Earrings (Sold By Gram Weight) • 14K Eagles, Anchors, Sport Charms & Pendants • Hundreds of Rings for Ladies, Gents and Children • Diamonds, Sapphires, Rubies, Emeralds, Opals, Onyx, Blue Topaz, Amethyst, Pink Ice, Birthstones, Etc .... • In Store Same Day Sizing Available On Most Items Purchased. * WE BUY AND SELL GOLD & DIAMONDS* FLEMINGSBURG \ "> ~ LEXINGTON \ ASHLAND WEST ~<- -~,.--1_-64_______ E_AS _T )➔ ">'to *CAIUY'I • JEWELRY OLIVE HILL SALT LICK US60 ~ (Main SI., Morehead) '\ "> ~ "" SANDY HOOK LOCATED 1 MILE EAST OF MOREHEAD ON U.S. 60 uvv,'e Honor: iCi, • -.. VISA PERSONALCHECKS [;JAY-A· = WITH PROPER 1.0. Way HOURS: 8 A.M. to 5 P.M. MONDAY THROUGH SATURDAY ,.1 ARMS • Guitars • Handguns * Guitar Strings * Rifles, Shotguns * Picks, Tuners Your Authorized * Ammunition • Straps Buck Knife Dealer! * Holsters • Mandolins CASKEY'S GUNS & KNIVES Contents Administration .............. ............................... 2 Eagle Coaches .... .... ......... ..... .. .... .... ......... 6 & 8 Eagle Players ........................ ... 10, 11, 12, 13, 14 & 18 Lady Eagle Coaches ......... .......................... 15 & 19 Lady Eagle Players ...... ....... ............ .. 18, 20, 21, 22, 23 MSU Rosters ....................... .. ...................... 16 Opponent Rosters . 17 MOREHEAD STATE UNIVERSITY MOREHEAD STATE UNIVERSITY MEN'S BASKETBALL SCHEDULE 1991-92 WOMEN'S BASKETBALL SCHEDULE 1991-92 DATE OPPONENT TIME NOVEMBER TIME DATE OPPONENT 14 Fort Campbell (exhibition) 5:15 NOVEMBER 23 at Appalachian State 11 :45 Ukrainian National (exhibition) 7:30 9 26 at Wright State 7:30 7:30 14 Fort Campbell (exhibition) DECEMBER 22 West Virginia State 7:30 4 at Radford 7:00 25 Thomas More 7:30 TBA 6-7 at Liberty Tournament 27 at UNG-Greensboro 7:00 (Morehead St.
    [Show full text]
  • Eastern Progress Last Thursday for a Copy of the Buck Study, Which University President Robert Kustra Quoted During Open Budget Forums Held Last Week
    rn Hand Made T Amy Campbell showed her art R work at the annual senior art shows./Bl F resswww.progress.eku.edu week id Kv Student publication of I istern Kentucky Um ', unco 1922 All employees will get $900 raises next year BVJAMEVINSOH problem in the salaries of Eastern made Tuesday morning. He said increase. Basically a person who works to contact any faculty," Cordner News editor employees. The university will there was an administrative coun- "That is what the president is 40 hours will see an increase of said. Cordner said he had a meet- increase pay by $900. cil meeting and that President going to recommend to the Board $.43 per hour. A person who ing last week with faculty and All of Eastern's employees will Jim Clark, vice president of Robert Kustra sent out budget of Regents at the May 19 meet- works 37.5 hours, a typical work- understood the possibility of a flat see the same pay increase next government relations and budget, instructions. He added there will ing," Clark said. week will see an increase of $.46 dollar increase. year. confirmed that the entire universi- be no increase, however, in oper- President Kustra said in an per hour. "It was my sense that most of The decision to increase pay ty will receive a $900 increase. ating expense or travel. interview Tuesday that an across Gary Cordner, dean of the col- the faculty thought it was a good comes as a result of the Buck Thisis not a percent increase The Board of Regents will have the board, flat rate would help lege of law enforcement, says the idea," Cordner said.
    [Show full text]
  • MONTGOMERY COUNTY BOARD of EDUCATION I. Call to Order II
    MONTGOMERY COUNTY BOARD OF EDUCATION Special Call Session Agenda Tuesday, August 27, 2019 MCHS Cafeteria 5:30 p.m. I. Call to Order II. Approval of Agenda III. Pledge of Allegiance IV. Recognition ---------------------------------------------------------------------------------------------3-4 A. MCHS Baseball Team B. Boys and Girls State C. MCHS Track and Field V. Hearing of Citizens VI. Verbal Report - Principals Report VII. Reports/Monthly Updates Printed Information A. Maintenance – David Walters ------------------------------------------------------------------------- 5 B. Transportation – Scotty Johnson -------------------------------------------------------------------- 6-7 C. Technology –Debbie Goldy ---------------------------------------------------------------------------- 8 D. Food & Nutrition Services – Julie Metcalf ---------------------------------------------------------- 9 E. Child Care – Lesia Whitaker -------------------------------------------------------------------------- 10 F. Communications – Amy Mullins --------------------------------------------------------------------- 11 G. Office of Special Education – Arden Goodman --------------------------------------------------- 12 H. School Reports & SBDM Minutes – Principals –As submitted ----------------------------- 13-28 I. Family Resource/Youth Service Centers – Principals – As Submitted ----------------------- 29 J. Guidance Reports – Principals – As submitted-------------------------------------------------- 30-34 K. 2018-19 Annual Financial Statement ------------------------------------------------------------
    [Show full text]
  • The Athlete, April 1989 Kentucky High School Athletic Association
    Eastern Kentucky University Encompass The Athlete Kentucky High School Athletic Association 4-1-1989 The Athlete, April 1989 Kentucky High School Athletic Association Follow this and additional works at: http://encompass.eku.edu/athlete Recommended Citation Kentucky High School Athletic Association, "The Athlete, April 1989" (1989). The Athlete. Book 342. http://encompass.eku.edu/athlete/342 This Article is brought to you for free and open access by the Kentucky High School Athletic Association at Encompass. It has been accepted for inclusion in The Athlete by an authorized administrator of Encompass. For more information, please contact [email protected]. Official Publication of The Kentucky High School Athletic Association April, 1989 Volume LI, No. 9 Member ol National Federation o( State High School AuoclaUont TARGET VIDEOS The following video tapes are available to schools for use in their Drug and Alcohol Programs. They are available from the K.H.S.A.A. on a check-out basis for a maximum of two weeks. School personnel wanting to use the video tapes may request them in writing or by contacting the K.H.S.A.A. by phone. The toll free'number is 1-800-248-3234. Do We or Don't We? 1/2" VHS A four minute trigger film of a teenage band, the Gravediggers, practicing before auditioning for their first big job. But, they need a drummer and are waiting for a new kid who was recommended by their band teacher. The drummer arrives but refuses to play unless they drink a beer before playing. VC0002-A-E Him or Me? 1/2" VHS A four minute trigger film opens as a camp is just over and two of the couselors are planning to go to a party.
    [Show full text]