Ingham County 12-31-07 CAFR
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INGHAM COUNTY, MICHIGAN COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007 Board of Commissioners: Marc Thomas, Chairperson Dianne Holman, Vice-Chairperson Mike Severino, Vice-Chairperson Pro Tem Debbie De Leon Tina Weatherwax-Grant Rebecca Bahar-Cook Andy Schor Dale Copedge Todd Tennis Curtis Hertel, Jr. Mark Grebner Victor Celentino Deb Nolan Randy Schafer Steve Dougan Tim Soule Prepared by: Financial Services Division Controller: Matthew Myers Independent Auditors: Rehmann Robson INTRODUCTORY SECTION INGHAM COUNTY, MICHIGAN Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2007 TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Table of Contents ..................................................................................................................... i-iii Letter of Transmittal.................................................................................................................. iv-x Organizational Chart ................................................................................................................. xi Certificate of Achievement for Excellence in Financial Reporting ........................................................................................................... xii FINANCIAL SECTION Independent Auditors’ Report.......................................................................................................... 1-2 Management’s Discussion and Analysis ...................................................................................... 3-13 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets ...................................................................................................... 14 Statement of Activities........................................................................................................ 15-16 Fund Financial Statements: Balance Sheet – Governmental Funds ................................................................................ 17 Reconciliation of Fund Balances on the Balance Sheet for Governmental Funds to Net Assets of Governmental Activities on the Statement of Net Assets........................................................................................................................ 18 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ..................................................................................... 19 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities.......................................................................................................................... 20 Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual: General Fund............................................................................................................... 21 Health Department Major Special Revenue Fund ...................................................... 22 Emergency Telephone Major Special Revenue Fund................................................. 23 Revenue Sharing Reserve Major Special Revenue Fund............................................ 24 Statement of Net Assets - Proprietary Funds ...................................................................... 25 Statement of Revenues, Expenses, and Changes in Fund Net Assets – Proprietary Funds............................................................................................................. 26 Statement of Cash Flows – Proprietary Funds.................................................................... 27 Statement of Fiduciary Net Assets – Agency Funds........................................................... 28 Combining Statement of Net Assets – Component Units................................................... 29 Combining Statement of Activities – Component Units..................................................... 30 Notes to the Financial Statements............................................................................................ 31-60 Combining and Individual Fund Statements and Schedules: Comparative Balance Sheets – General Fund.......................................................................... 61 Schedule of Expenditures by Cost Category – Budget and Actual – General Fund....................................................................................................................... 62 Combining Balance Sheet – Nonmajor Governmental Fund Types........................................ 63 Combining Statement of Revenue, Expenditures and Changes in Fund Balance – Nonmajor Governmental Fund Types....................................................... 64 -i- INGHAM COUNTY, MICHIGAN Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2007 TABLE OF CONTENTS (Continued) PAGE Nonmajor Special Revenue Funds Combining Balance Sheet ........................................................................................................ 65-68 Combining Statement of Revenue, Expenditures and Changes in Fund Balance ..................................................................................................... 69-72 Schedule of Revenue, Expenditures and Changes in Fund Balance - Amended Budget and Actual ................................................................... 73-96 Nonmajor Debt Service Funds Combining Balance Sheet ........................................................................................................ 97 Combining Statement of Revenue, Expenditures and Changes in Fund Balance ..................................................................................................... 98 Nonmajor Capital Projects Funds Combining Balance Sheet ........................................................................................................ 99 Combining Statement of Revenue, Expenditures and Changes in Fund Balance ..................................................................................................... 100 Nonmajor Enterprise Funds Combining Statement of Net Assets......................................................................................... 101-102 Combining Statement of Revenue, Expenses, and Changes in Fund Net Assets.................................................................................................. 103-104 Combining Statement of Cash Flows....................................................................................... 105-106 Nonmajor Internal Service Funds Combining Statement of Net Assets........................................................................................... 107-108 Combining Statement of Revenue, Expenses, and Changes in Fund Net Assets................................................................................................... 109-110 Combining Statement of Cash Flows ........................................................................................ 111-112 Nonmajor Fiduciary Funds Combining Statement of Fiduciary Assets and Liabilities – Agency Funds............................. 113 Combining Statement of Changes in Assets and Liabilities – All Agency Funds .................... 114-115 Drain Commission Component Unit Statement of Net Assets and Governmental Funds Balance Sheet ............................................ 116 Reconciliation of Fund Balances on the Balance Sheet for Governmental Funds to Net Assets of Governmental Activities on the Statement of Net Assets........................... 117 Statement of Activities and Governmental Funds Revenue, Expenditures and Changes in Fund Balance ................................................................................................... 118 Reconciliation of Statement of Revenues, Expenditures and Changes in Fund Balance of Governmental Funds to the Statement of Activities............................................ 119 Statement of Cash Flows – Proprietary Fund Type - Drain Equipment Fund........................... 120 Debt Service Funds: Combining Balance Sheet ..................................................................................................... 121-122 Combining Statement of Revenue, Expenditures and Changes in Fund Balance .......................................................................................... 123-124 Capital Projects Funds: Combining Balance Sheet ..................................................................................................... 125-126 Combining Statement of Revenue, Expenditures and Changes in Fund Balance........................................................................................... 127-128 -ii- INGHAM COUNTY, MICHIGAN Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2007 TABLE OF CONTENTS (Concluded) PAGE Brownfield Redevelopment Authority Component Unit Statement of Net Assets and Governmental Funds Balance Sheet ............................................ 129 Statement of Activities and Governmental Funds Revenue, Expenditures and Changes in Fund Balance ................................................................................................... 130 STATISTICAL SECTION Net Assets by Component (Table 1)............................................................................................. 131 Changes in Net Assets (Table 2) .................................................................................................. 132-133 Fund Balances – Governmental