Laredo Commu nity College District Audited Financial 'Statements and Single Audit Reports Yea r Ended August 31, 2015 CG B Canales, Garza &BaumPu.c c Laredo Community College District August 31, 2015 Table of Contents Introductory Section Names and Terms of the Board of Trustees and Principal Administrative Officers......................................·.................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... i Organizational Chart ............... ......................................................................... ............. ..................ii-viii Financial Section Independent Auditors' Opinion on the Basic Financial Statements (and on Federal and State Schedules) ................................................................................................... 1-3 Management Discussion and Analysis .................................................................................................................... 4-19 Exhibits: Exhibit 1 Statement of Net Position ............................................................................................................................ 20 Exhibit 2 Statement of Revenues, Expenses and Changes in Net Position .............................................................. 21 Exhibit 3 Statement of Cash Flows ....................................................................................................................... 22-23 Notes to the Basic Financial Statements ............................................................................................................... 24-40 Schedule of College's Share of Net Pension Liability ................................................................................................. 47 Schedule of College Contributions ............................................................................................................................. 48 Notes to Required Supplementary Information ........................................................................................................... 49 Report on Compliance and Internal Control over Financial Reporting based on an Audit of Financial Statements Performed in Accordance with Governmental Auditing Standards .................................................................................................................51-52 Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over Compliance in Accordance with OMB Circular A-133 ....................................................................................................................................................... 53-54 Schedules A Schedule of Operating Revenues ............................................................................................................ 57 B Schedule of Operating Expenses ............................................................................................................ 58 C Schedule of Non-Operating Revenues and Expenses ............................................................................ 59 D Schedule of Net Assets by Source and Availability ................................................................................. 60 E Schedule of Expenditures of Federal Awards ..................................................................................... 61-62 F Schedule of Expenditures of State Awards......................................................................................... 63-64 Statistical Supplement Net Position by Component. ...................................................................................................................................... 67 Revenues by Source .................................................................................................................................................. 68 Program Expenses by Function ................................................................................................................................. 69 Tuition and Fees ........................................................................................................................................................ 70 Assessed Value and Taxable Assessed Value of Property ....................................................................................... 71 State Appropriation per FTSE and Contact Hour ....................................................................................................... 72 Principal Taxpayers .................................................................................................................................................... 73 Property Tax Levies and Collections .......................................................................................................................... 74 Ratios of Outstanding Debt. ....................................................................................................................................... 75 Legal Debt Margin Information ................................................................................................................................... 76 Pledged Revenue Coverage ...................................................................................................................................... 77 Demographic and Economic Statistics - Taxing District. ...................................................................................... 78 Principal Employers .................................................................................................................................................... 79 Faculty, Staff and Administrator Statistics .................................................................................................................. 80 Enrollment Details ...................................................................................................................................................... 81 Student Profile ............................................................................................................................................................ 82 Transfers to Senior Institutions .................................................................................................................................. 83 Capital Asset Information ........................................................................................................................................... 84 Contact Hours ............................................................................................................................................................ 85 Federal Schedule of Findings and Questioned Costs ................................................................................................ 87 Federal Summary Schedule of Prior Audit Findings ................................................................................................... 88 State Schedule of Findings and Questioned Costs .................................................................................................... 89 State Summary Schedule of Prior Audit Findings ...................................................................................................... 90 LAREDO COMMUNITY COLLEGE DISTRICT ORGANIZATIONAL DATA For the Fiscal Year 2015 Board of Trustees Officers Mercurio Martinez, Jr. President November 2016 Allen Tijerina Vice President November 2018 Cynthia Mares Secretary November 2016 Term Expires Leonides G. Cigarroa, Jr., M.D. Laredo, Texas November 2016 Michelle De La Pena Laredo, Texas November 2020 Rene De La Vina Laredo, Texas November 2018 Gilberto Martinez, Jr., Ed.D. Laredo, Texas November 2018 Jackie Leven Ramos Laredo, Texas November 2020 Ernestina C. Vela Laredo, Texas November 2020 Principal Administrative Officers Juan L. Maldonado, Ph.D. President Vincent Solis, Ed.D. Vice President for Instruction and Student Services Deirdre E. Reyna Communications and Institutional Effectiveness Officer Nora Stewart Chief Financial Officer Luciano Ramon Information Technology Officer Nora R. Garza, Ph.D. Vice President for Resource Development . J'&Jlege 201 5 - 2016 President Dr. Juan L. Maldonado Organizational Structure Construction Pro)llCI DonorRela!Jons & Manager Speaal Projects Robert A.Porter Sara A. Pompa Chief Officer for Facilities and Communications & Institutional Voce Pn!Sldent for Instruction & Ch18fFmanaal Officer lnfonnabon Technology Ofli:er LCC Oil & Gas Institute Effectiveness Officer Student Services Nora Stewart Luaano Ramon Orlando J. Zepeda Deirdre E. Reyna Dr. Vmcent R Sois 11/01/15; 9:30 a.m. ii Vice President for lnstructlon & Student Services .ggmiif'.1W!x.r&Jlege Dr.Vincent R. Solis 201 5 - 2016 Instruction & Student Services Division Admmislratiw AsslSlanl II Admml51Jidive Assistant II Rosa A. Huerta l.JndaGamez Assoaalll Voce President for Associatll Voce President for lnstrucbon Sllldent Services Dr.Fedenco Solis, Jr. Robert Ochoa Dean of Health Sciences & AsslSlanl Dean of Wortdon:e AsSISlant Dean of