Co m p r e h e n s i v e An n u a l

Transcription

1 Inspire. in s p i r e to animate, as an influence, feeling, thought, or the like, does: The students were inspired by a belief in a bright future. Educate. ed u c at e to develop the faculties and powers of (a person) by teaching, instruction, or schooling: Teachers and parents educate children to be citizens of the world. Empower. em p o w er to enable: Through education, we empower students for success. Co m p r e h e n s i v e An n u a l Financial Report Fiscal Year Adams County School District East 60th Avenue Commerce City, Colorado adams14.org

2 ADAMS COUNTY SCHOOL DISTRICT 14 COMMERCE CITY, COLORADO COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Fiscal Year Ended June 30, 2009 Board of Education Mrs. Jeannette Lewis, President Mr. Robert Vashaw, Vice President Mr. Larry Quintana, Treasurer Mr. Bill Klocker, Secretary Mr. Jeff Smith, Director Superintendent of Schools Dr. Susan Chandler Issued by Division of Financial Services Martha A. Baldwin, CPA Director of Finance

3 ADAMS COUNTY SCHOOL DISTRICT 14 Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2009 Table of Contents INTRODUCTORY SECTION Letters of Transmittal... 1 Association of School Business Officials Certification of Excellence in Financial Reporting... 7 Government Finance Officers Association of the United States and Canada Certificate of Achievement for Excellence in Financial Reporting... 8 Board Members, District Coordinating Team, and Directors... 9 Central Administration Organizational Chart FINANCIAL SECTION Independent Auditors' Report Management s Discussion and Analysis BASIC FINANCIAL STATEMENTS Government Wide Financial Statements Statement of Net Assets Statement of Activities Fund Financial Statements Balance Sheet Governmental Funds Reconciliation of Governmental Funds Balance Sheet to the Statement of Net Assets Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds Reconciliation of the Statement of Revenues, Expenditures and Changes In Fund Balances of Governmental Funds to the Statement of Activities Statement of Net Assets Proprietary Funds Statement of Revenues, Expenses, and Changes in Net Assets Proprietary Funds Statement of Cash Flows Proprietary Funds Statement of Fiduciary Assets and Liabilities Notes to Financial Statements REQUIRED SUPPLEMENTARY INFORMATION Budgetary Comparison Schedules General Fund Grants Fund Notes to Required Supplementary Information SUPPLEMENTARY INFORMATION Budgetary Comparison Schedules Capital Reserve Fund Bond Redemption Fund Capital Projects Building Fund Food Service Fund Adult Education Fund i

4 Table of Contents (continued) SUPPLEMENTARY INFORMATION (continued) Statement of Changes in Fiduciary Assets and Liabilities Combining Statement of Net Assets Component Units Combining Statement of Activities Component Units STATISTICAL SECTION Statistical Tables Table Financial Trends Net Assets by Component Changes in Net Assets Fund Balances of Governmental Funds Change in Fund Balances, Governmental Funds Revenue Capacity Summary of Revenue by Source and Other Financing Sources General Fund Assessed Value and Estimated Actual Value of Taxable Property Property Tax Rates, Direct and Overlapping Governments Principal Taxpayers Property Tax Levies and Collections Debt Capacity Ratio of General Bonded Debt to Assessed Value and Bonded Debt per Capita Ratio of Direct and Overlapping Debt Legal Debt Margin Information Ratio of Debt Service Expenditures For General Bonded Debt to General Fund Expenditures Demographic and Economic Information Demographic Statistics Property Values and Construction Adams County Principal Employers Operating Information Full-time Equivalent Employees by Fund Miscellaneous Statistical Data Capital Asset Statistics by Function / Program ii

5 Table of Contents (continued) COMPLIANCE SECTION Federal Financial Assistance Independent Auditors Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditors Report on Compliance with Requirements Applicable to Each Major Program and on Internal Control over Compliance in Accordance with OMB Circular A Schedule of Findings and Questioned Costs Independent Auditors Report on Schedule of Expenditures of Federal Awards Schedule of Expenditures of Federal Awards Notes to Schedule of Expenditures of Federal Awards Corrective Action Plan State Compliance Independent Auditors Report on Auditor s Integrity Report Colorado Department of Education Auditor s Integrity Report iii

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7 INTRODUCTION

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18 FINANCIAL SECTION

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73 STATISTICAL SECTION

74 STATISTICAL SECTION This part of the Adams County School District 14 comprehensive annual financial report presents detailed data as a context for understanding the information in the financial statements, note disclosures, and required supplementary information. Contents Table Financial Trends These schedules contain trend information to help the reader understand how the District s financial performance and well-being have changed over time. 1 4 Revenue Capacity These schedules contain information to help the reader assess the District s most significant local revenue source, the property tax. 5 9 Debt Capacity These schedules provide the reader with information to reader assess the affordability of the District s current levels of outstanding debt and the District s ability to issue additional debt in the future Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the District s financial activities take place Operating Information These schedules contain service data to help the reader understand how the information in the District s financial report relates to the services the District provides and the activities it performs Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year.

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76 FINANCIAL TRENDS Financial Trends These schedules contain trend information to help the reader understand how the District s financial performance and well-being have changed over time. Table 1 Net Assets by Component Table 2 Change in Net Assets Table 3 Fund Balances of Governmental Funds Table 4 Change in Fund Balances, Governmental Funds

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84 REVENUE CAPACITY Revenue Capacity These schedules contain information to help the reader assess the District s most significant local revenue source, the property tax. Table 5 Summary of Revenue by Source and Other Financing Sources, General Fund Table 6 Assessed and Estimated Actual Value of Taxable Property Table 7 Property Tax Rates Direct and Overlapping Governments Table 8 Principal Taxpayers Table 9 Property Tax Levies and Collections

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92 DEBT CAPACITY Debt Capacity These schedules present information to help the reader assess the affordability of the District s current levels of outstanding debt and the District s ability to issue additional debt in the future. Table 10 Table 11 Table 12 Table 13 Ratio of General Obligation Debt to Assessed Value and Bonded Debt per Capita Ratio of Direct and Overlapping Debt Legal Debt Margin Information Ratio of Debt Service Expenditures for General Bonded Debt To General Fund Expenditures

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98 DEMOGRAPHIC and ECONOMIC INFORMATION Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the District s financial activities take place. Table 14 Table 15 Table 16 Demographic Statistics Property Values and Construction City of Commerce City Principal Employers

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102 OPERATING INFORMATION Operating Information These schedules contain service data to help the reader understand how the information in the District s financial report relates to the services the District provides and the activities it performs. Table 17 Full-time Equivalent Employees by Fund Table 18 Miscellaneous Statistical Data Table 19 Capital Asset Statistics by Function / Program

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106 COMPLIANCE SECTION

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