^O'/l Vernon Parish School Board Leesville, Louisiana Comprehensive Annual Financial Report fop the year ended June 30, 2012 Under provisions of state law. this repoa is a public documeni Acopy of the report has baen submitted to the entity and other appropriate public ofiicials The report is avaiSabie for public inspection at the Baton Rouge OV{\ZQ of the Legislative Auditor and. where appropriate, at the office of the parish clerk of court „ , n . FEB 0 6 2013 Release Date VERNON PARISH SCHOOL BOARD Leesville, Louisiana COMPREHENSIVE ANNUAL FINANCIAL REPORT AS OF AND FOR THE YEAR ENDED JUNE 30,2012 Mike Perkins Jackie Self 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 17 Organization Chart 19 Elected Officials 20 Selected Administrative Officials 21 FINANCUL SECTION Statement Independent Auditors* Report 25-26 Required Supplementary Information 27 Management's Discussion and Analysis (MD&A) 28-40 Basic Financial Statements Government-wide Financial Statements (GWFS) 41 Statement of Net Assets A 42 Statement of Activities B 43 Fund Financial Statements (FFS) 44 Governmental Funds Balance Sheet C 45 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets 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 Basic Financial Statements Index 52 Notes 53-77 Exhibit Required Supplementary Information 78 Schedule of Funding Progress for Other Post Employment Benefit Plan 79 Budgetary Comparison Schedules 80 General Fund 81 Notes to the Budgetary Comparison Schedule 82-83 Supplementary Information 84 Nonmajor Governmental Funds Combining Balance Sheet - By Fund Type 85 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - By Fund Type 86-87 (Continued) Vernon Parish School Board Table of Contents Exhibit Page Supplementary Information (Continued) Nonmajor Special Revenue Funds 88-89 Combining Balance Sheet 4 90-95 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 5 96-107 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget (GAAP Basis) and Actual Ward 1 Maintenance 6-1 108 Ward 2 - Orange Maintenance 6-2 109 Ward 2 - Hombeck Maintenance 6-3 110 Ward 3 Maintenance 6-4 111 Ward 4 Maintenance 6-5 112 Ward 5 Maintenance 6-6 113 Ward 6 Maintenance 6-7 114 Ward 7 Maintenance 6-8 115 Ward 8 Maintenance 6-9 116 Other Special Funds 6-10 117 8G State Funds 6-11 118 Indian Education Grant 6-12 119 Adult Education 6-13 120 Vocational Education 6-14 121 Special Education 6-15 122 LA 4 6-16 123 School Food Service 6-17 124 Food Processing Centers 6-18 125 JAG 6-19 126 Title 1 6-20 127 Title 11 6-21 128 Title 111 6-22 129 Sales Tax 6-23 130 Head Start 6-24 131 Preschool 6-25 132 Education Excellence 6-26 133 REAP 6-27 134 Education Jobs 6-28 135 Nonmajor Debt Service Funds 137 Combining Balance Sheet 7 138-139 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 8 140-141 Nonmajor Capital Project Funds 143 Combining Balance Sheet 9 144-145 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances 10 146-147 Agency Funds 148 Combining Statement of Fiduciary Assets and Liabilities 11 149 Combining Statement of Changes in Assets and Liabilities 12 150-151 Schedule of Changes in Deposits Due Others - School Activities Agency Fund 13 152 (Continued) Vernon Parish School Board Table of Contents Exhibit Page Supplementary Information (Continued) Schedule of Compensation Paid Board Members 14 154 Comparative Information and Other Data Required by Bond Covenant with the U S Department of Agriculture 155 Nonmajor Debt Service Fund Comparative Balance Sheets - Ward 2 - Orange 15 156 Comparative Statements of Revenues, Expenditures, and Changes in Fund Balances - Ward 2 - Orange 16 157 Comparative Balance Sheets - Ward 8 17 158 Comparative Statements of Revenues, Expenditures, and Changes in Fund Balances - Ward 8 18 159 Schedule of Insurance 19 160 Reserve Account 20 161 Statistical Section Table Contents 165-166 Financial Trends Net Assets by Component 1 167 Changes in Net Assets 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 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 School Building Information 17 183 Operating Statistics 18 184 (Concluded) INTRODUCTORY SECTION President Supenntendent Vice-President Michael Perkins Jackie D Self Randi Gleason Vtvnon l^atisil^ ^t^ool Woaxh 201 Belview Road LEESVILLE, LOUISIANA 71446 (337) 239-3401 Fax (337) 238-5777 BOARD MEMBERS Transmittal Letter District One Doug Brandon Randi Gleason December 26, 2012 Mel Hams Robert Pynes. Jr To the Elected School Board Steve Woods Members and Citizens of Vernon Parish District Two Jerry L Jeane District Three The Comprehensive Annual Financial Report of the Vernon Parish School Board (School Board) Richard Schwartz for the year ended June 30, 2012, is submitted herewith Finance Department personnel Distnct Four following the guidelines recommended by the Association of School Business Officials Randy Martin International and the Government Finance Officers Association of the United States and Canada have prepared this report District Five Michael Perkins A. Management Responsibility Responsibility for both the accuracy of the data, and the Distnct SIX Vernon L Travis, Jr completeness and fairness of the presentation, including all disclosures, rests with the School Board To the best of our knowledge and belief, the enclosed data is accurate in all matenal Distnct Seven respects and are reported in a manner designed to present fairly the financial position and results John Blankenbaker of operations of the various funds of the School Board All disclosures necessary to enable the Dtstnct Eight reader to gam an understanding of the School Board's financial activities have been included Gerald Cooley B. Reporting Entity The report includes all entities or organizations that are required to be mcluded m the School Board's reporting entity The basic criteria for determining whether a governmental department, agency, institution, commission, public authority, or other governmental organization should be included in a governmental unifs reporting entity is financial accountability Fmancial 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 financial statements present the Vernon Parish School Board (the primaiy 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 of the Single Audit Act Amendments of 1996 and U S Office of Management and Budget Circular A-133, Audits of State, Local Governments, and Non-profit Organizations 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 The School Board provides a full range of educational services appropriate to grade levels Pre K through 12 for 10,111 students, in which Pre Kenrollmentwas 673 and MFP enrollment was 9,438 Projected enrollment by 2017- 2018 is estimated to be 10,313 students, m which Pre K enrollment will be 689 and MFP enrollment will be 9,624 "An Equal Opportunity Employer" 11 These include providing instructional personnel, instructional materials, instructional facihties, 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 form of Management's Discussion and Analysis (MD&A) This letter of transmittal is designed to complement the MD&A and should be read