20436 Tulsa Public Schools Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2020 INDEPENDENT SCHOOL DISTRICT NO. I-1, TULSA COUNTY, OKLAHOMA This page is left blank intentionally INDEPENDENT SCHOOL DISTRICT NO. I-1, TULSA COUNTY, OKLAHOMA Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2020 Prepared by the Department of Financial Services Tulsa Public Schools does not discriminate on the basis of race, religion, color, national origin, sex, sexual orientation, gender expression, gender identity, pregnancy, disability, genetic information, veteran status, marital status, age or any other classification protected by applicable law with respect to employment, programs and activities. The district also provides equal access to the Boy Scouts of America and other designated youth groups. The district prohibits discrimination. The district also prohibits retaliation, intimidation, threats, or coercion against any individual who complains about discrimination or participates in the district’s discrimination complaint process. The following person is designated to handle complaints and inquiries regarding Tulsa Public Schools’ non-discrimination policies: Eva Vindas, Human Rights & Title IX Coordinator Tulsa Public Schools, General Counsel’s Office 3027 S. New Haven Ave. Tulsa, Oklahoma 74114-6131 918-746-6158 This page is left blank intentionally TABLE OF CONTENTS Page Introductory Section .............................................................................. 1 School District Officials .................................................................................................................... 3 Organizational Chart ........................................................................................................................ 4 Superintendent Profile ...................................................................................................................... 5 Board District Map ............................................................................................................................ 6 Board Member Profiles .................................................................................................................... 7 Letter of Transmittal ....................................................................................................................... 11 GFOA Certificate of Achievement for Excellence in Financial Reporting ...................................... 21 ASBO Certificate of Excellence in Financial Reporting ................................................................. 23 Financial Section .................................................................................. 25 Independent Auditors’ Report ............................................................................................... 27 Management’s Discussion and Analysis .............................................................................. 29 Basic Financial Statements ................................................................................................... 39 Statement of Net Position .............................................................................................................. 41 Statement of Activities .................................................................................................................... 42 Balance Sheet – Governmental Funds .......................................................................................... 43 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position .................................................................................................................................... 44 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ....................................................................................................................................... 45 Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities ................................................................................................... 46 Notes to the Financial Statements ................................................................................................. 47 Required Supplementary Information .................................................................................. 79 Schedule of the District’s Proportionate Share of the Net Pension Liability .................................. 81 Schedule of the District’s Pension Plan Contributions ................................................................... 83 Schedule of the District’s Proportionate Share of the Net OPEB Liability (Asset) ......................... 84 Schedule of the District’s OPEB Plan Contributions ...................................................................... 84 Budgetary Comparison Schedule – General Fund ........................................................................ 85 Reconciliation of Statement of Revenues, Expenditures, and Changes in Fund Balances to the Budgetary Comparison Schedule – General Fund ....................................................... 86 Notes to Required Supplementary Information .............................................................................. 87 Other Supplementary Information ........................................................................................ 89 Budgetary Comparison Schedule – Debt Service Fund ................................................................ 91 Budgetary Comparison Schedule – Capital Improvements ........................................................... 92 Budgetary Comparison Schedule – Special Revenue Fund .......................................................... 93 Combining Balance Sheet – General Funds ................................................................................. 94 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – General Funds ......................................................................................................................... 95 Combining Balance Sheet (Nonmajor Funds) ............................................................................... 96 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Nonmajor Funds) .................................................................................................................... 97 i TABLE OF CONTENTS Page Statistical Section (Unaudited) ............................................................ 99 Contents ................................................................................................................................ 101 Financial Trends .................................................................................................................. 102 Changes in Net Position............................................................................................................... 102 Changes in Fund Balances – Governmental Funds .................................................................... 104 Net Position By Component ......................................................................................................... 106 Fund Balances, Governmental Funds ......................................................................................... 107 Revenue Capacity ................................................................................................................. 108 Property Tax Rates – Direct and Overlapping Governments ...................................................... 108 Direct and Overlapping Property Tax Rates ................................................................................ 108 Assessed Value and Estimated Actual Value of Taxable Property ............................................. 109 Principal Property Taxpayer ......................................................................................................... 110 Property Tax Levies and Collections ........................................................................................... 111 Debt Capacity ....................................................................................................................... 112 Ratios of Total Outstanding Debt by Type ................................................................................... 112 Ratios of General Net Bonded Debt Outstanding ........................................................................ 113 Legal Debt Margin Information ..................................................................................................... 114 Direct and Overlapping Governmental Debt ................................................................................ 115 Demographic and Economic Information .......................................................................... 116 Tulsa Area Principal Employers ................................................................................................... 116 Population, Per Capita Income and Employment ........................................................................ 117 Operating Information ......................................................................................................... 118 Net Current Expenditures Per Pupil ............................................................................................. 118 School Food Service Program ....................................................................................................