Vernon Parish School Board Leesville, Louisiana
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Vernon Parish School Board Leesville, Louisiana Comprehensive Annual Financial Report for the year ended June 30, 2019 VERNON PARISH SCHOOL BOARD Leesville, Louisiana COMPREHENSIVE ANNUAL FINANCIAL REPORT As Of And For The Year Ended June 30,2019 Vernon L. Travis, Jr. James Williams President Superintendent Tim Ward Director of Finance Prepared by the Department of Finance Vernon Parish School Board Table of Contents Page INTRODUCTORY SECTION Transmittal Letter 11-14 GFOA Certificate of Achievement for Excellence in Financial Reporting 15 ASBO Certificate of Excellence in Financial Reporting Award 16 Organization Chart 17 Elected Officials 18 Selected Administrative Officials 19 FINANCIAL SECTION Statement Independent Auditor's Report 23-25 Required Supplementary Information 27 Management's Discussion and Analysis (MD&A) 28-40 Basic Financial Statements Government-wide Financial Statements (G\VFS) 41 Statement of Net Position A 42 Statement of Activities B 43 Fund Financial Statements (FFS) 45 Govermnental Funds: Balance Sheet c 46 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position D 47 Statement of Revenues, Expenditures, and Changes in Fund Balances E 48-49 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities F 50 Fiduciary Funds: Statement of Fiduciary Assets and Liabilities G 51 Notes to the Financial Statements Index 52 Notes 53-84 Exhibit Required Supplementary Information 85 Schedule of Changes in the Total OPEB Liability and Related Ratios 1-1 86 Schedule of Employer's Proportionate Share ofNet Pension Liability 1-2 87 Schedule of Employer Contributions to Pension Plans 1-3 88 Notes to Required Supplementary Infonnation for Pensions 89 Budgetary Comparison Schedule 90 General Fund 1-4 91-92 Heads tart 1-5 93 Notes to the Budgetary Comparison Schedule 94 (Continued) Vernon Parish School Board Table of Contents Exhibit Page Supplementary Information 95 Nonmajor Governmental Funds Combining Balance Sheet - By Fund Type 2 97 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances- By Fund Type 3 98-99 Nonmajor Special Revenue Funds 100-101 Combining Balance Sheet 4 102-107 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 5 108-119 Schedule of Revenues, Expenditures, and Changes in Fund Balance- Budget (GAAP Basis) and Actual Ward 1 Maintenance 6-1 120 Ward 2 - Orange Maintenance 6-2 121 Ward 2 - Hornbeck Maintenance 6-3 122 Ward 3 Maintenance 6-4 123 Ward4 Maintenance 6-5 124 Ward 5 Maintenance 6-6 125 Ward 6 Maintenance 6-7 126 Ward 7 Maintenance 6-8 127 Ward 8 Maintenance 6-9 128 8G and Early Childhood Funds 6-10 129 Indian Education Grant 6-11 130 Vocational Education 6-12 131 Special Education 6-13 132 LA4 6-14 133 School Food Service 6-15 134 JAG 6-16 135 Miscellaneous Federal Grants 6-17 136 Title I 6-18 137 Title II 6-19 138 Title III 6-20 139 Sales Tax 6-21 140 Preschool 6-22 141 Education Excellence 6-23 142 REAP 6-24 143 (Continued) Vernon Parish School Board Table of Contents Exhibit Page Supplementary Information (Continued) Nonmajor Debt Service Funds: 145 Combining Balance Sheet 7 146-147 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 8 148-149 Nonmajor Capital Project Funds: 150 Combining Balance Sheet 9 151 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 10 152 Agency Funds: 153 Combining Statement of Fiduciary Assets and Liabilities 11 154 Combining Statement of Changes in Fiduciary Assets and Liabilities 12 155-156 Schedule of Changes in Deposits Due Others - School Activities Agency Fund 13 157 Schedules of Compensation Paid: Board Members 14 160 Superintendent 15 161 STATISTICAL SECTION TABLE Contents 165-166 Financial Trends: Net Position by Component 1 167 Changes in Net Position 2 168 Fund Balances of Governmental Funds 3 169 Changes in Fund Balances of Governmental Funds 4 170 Revenue Capacity Assessed Value and Estimated Actual Value of Taxable Property 5 171 Overlapping Governments 6 172 Principal Property Taxpayers 7 173 Property Tax Levies and Collections 8 174 Sales and Use Tax Rates and Collections- All Governments 9 175 Debt Capacity Ratios of Outstanding Debt by Type 10 176 Ratios of General Bonded Debt Outstanding 11 177 Direct and Overlapping Governmental Activities Debt 12 178 Legal Debt Margin Information 13 179 Demographic and Economic Information Demographic and Economic Statistics 14 180 Principal Employers 15 181 Operating Information School Personnel 16 182 Student Capacity and Utilization 17 183-186 Operating Statistics 18 187 (Concluded) Vern on Parish School Board This page intentionally left blank 10 President Superintendent Vice-President Vernon L. Travis. Jr. James Williams Shad Stewart '.lJernon ~arisb ~cbool ~oarlY 201 Belview Road LEESVILLE, LOUISIANA 7 1446 (3 37) 239-3401 Fax (337) 238-5777 BOARD MEMBERS. Transmittal Letter District One Doug BrandOI'l December 31 , 2019 Robert Pynes. J r. J im Seaman Jack•e Self To the Elected School Board Steve W oods Members and Citizens of Vernon Parish: District Two Ang•e Davts In accordance with the laws ofthe state ofLouisiana, the Comprehensive Annual Financial Report of the Vernon Parish School Board (School Board) for the year ended June 30, 2019 is submitted D istncl Three herewith. Finance Department personnel following the guidelines recommended by the Association David Detz of School Business Officials International and the Government Finance Officers Association ofthe D islncl Four United States and Canada have prepared this report. Randy Martin District F ive A. Management Responsibility Responsibility for both the accuracy of the data, and the S had S tew art completeness and fairness of the presentation, including all disclosures, rests with the School Board. D•strict S1x To the best of our knowledge and belief, the enclosed data is accurate in all material respects and are V ernon l. T ravis. Jr. reported in a manner designed to present fairly the fmancial position and results of operations ofthe various funds of the School Board. All disclosures necessary to enable the reader to gain an under District Seven J ohn Blankenbaker standing of the School Board's fmancial activities have been included. D istnct Eight Lisa T h ompson B. Reporting Entity The report includes all entities or organizations that are required to be included in the School Board's reporting entity. The basic criteria for deternllning whether a governmental department, agency, institution, commission, public authority, or other governmental organization should be included in a governmental unit's reporting entity is fmancial accountability. Financial accountability includes the appointment of a voting majority of the organization's governing body and either the ability of the primary government to impose it's will on the organization or if there is a financial benefit/burden relationship. In addition, an organization which is fiscally dependent on the primary government should be included in its reporting entity. The fmancial statements present the Vernon Parish School Board (the primary government). Based on the above criteria, there are no component units included in the School Board's reporting entity. The School Board is required to undergo an annual single audit in conformity with the provisions ofthe Single Audit Act Amendments of 1996 and the Uniform Guidance. Information related to this single audit includes the Schedule of Expenditures of Federal Awards, findings and recommendations, if applicable, and auditors' reports on internal control and compliance with applicable laws and regulations. The single audit report is issued separately from this Comprehensive Annual Financial Report. " An Equal Opportunity Employer" 11 The School Board provides a full range of educational services appropriate to grade levels Pre K through 12 for 8,563 students, in which Pre K enrollment was 532 and MFP enrollment was 8,031. Projected enrollment by 2019- 2020 is estimated to be similar to current year. These services include providing instructional personnel, instructional materials, instructional facilities, child nutrition, administrative support, business services, systems operations, and plant maintenance and bus transportation. These basic services are supplemented by a wide variety of offerings in the fine arts and athletics. These education services are provided at eighteen school sites across the Parish with the school buildings ranging in age from 1955 to 1995 with all school sites being renovated over the last 10 ten years. Management provides a narrative introduction, overview, and analysis to accompany the basic financial statements in the fonn of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The Vernon Parish School Board's MD&A can be found immediately after the report of the independent auditors. C. Internal Control Management of the School Board is responsible for establishing and maintaining internal control designed to ensure that the assets of the School Board are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with accounting principles generally accepted in the United States of America. Intemal control is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (I) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. We believe the School Board's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. As a recipient of federal, state and local fmancial assistance, the School Board also is responsible for ensuring that adequate intemal control is in place to ensure compliance with applicable laws and regulations related to those programs.