PDF City of Baltimore Maryland
嚜澧ity of Baltimore
Maryland
Comprehensive Annual Financial Report
Year Ended June 30, 2018
City of Baltimore, Maryland
Comprehensive Annual Financial Report
Year Ended June 30, 2018
Prepared by the Department of Finance
Henry J. Raymond
Director of Finance
Bureau of Accounting and Payroll Services
Sandra C. Stecker
Bureau Chief
469 City Hall, 100 N. Holliday Street, Baltimore, Maryland 21202
ELECTED OFFICIALS
MAYOR
Catherine E. Pugh
PRESIDENT OF THE CITY COUNCIL
Bernard C. Young
COMPTROLLER
Joan M. Pratt
BOARD OF ESTIMATES
PRESIDENT
Bernard C. Young
MAYOR
Catherine E. Pugh
COMPTROLLER
Joan M. Pratt
DIRECTOR OF PUBLIC WORKS
Rudolph S. Chow
CITY SOLICITOR
Andre M. Davis
CITY COUNCIL
Bernard C. Young, President
Sharon Green Middleton, Vice-President
FIRST DISTRICT
EIGHTH DISTRICT
Zeke Cohen
Kristerfer Burnett
SECOND DISTRICT
NINTH DISTRICT
Brandon M. Scott
John. T Bullock
THIRD DISTRICT
TENTH DISTRICT
Ryan Dorsey
Edward Reisinger
FOURTH DISTRICT
ELEVENTH DISTRICT
Bill Henry
Eric T. Costello
FIFTH DISTRICT
TWELFTH DISTRICT
Isaac "Yitzy" Schleifer
Robert Stokes, Sr.
SIXTH DISTRICT
THIRTEENTH DISTRICT
Sharon Green Middleton
Shannon Sneed
SEVENTH DISTRICT
FOURTEENTH DISTRICT
Leon F. Pinkett, III
Mary Pat Clarke
II
City of Baltimore
Comprehensive Annual Financial Report
Year Ended June 30, 2018
TABLE OF CONTENTS
INTRODUCTORY SECTION (UNAUDITED)
Page
Title Page ......................................................................................................................................................................... I
Elected Officials..........................................................................................................................................................................................II
Table of Contents ............................................................................................................................................................ III
Letter of Transmittal ...............................................................................................................................................................VII
Municipal Organization Chart .............................................................................................................................................. XIX
Certificate of Achievement for Excellent in Financial Reporting ............................................................................................................................ XX
FINANCIAL SECTION
Report of Independent Public Accountants ....................................................................................................................... 1
Management's Discussion and Analysis ............................................................................................................................ 4
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Position .................................................................................................................................. 18
Statement of Activities ...................................................................................................................................... 19
Fund Financial Statements:
Balance Sheet - Government Funds .................................................................................................................. 20
Statement of Revenue, Expenditures and Changes in Fund Balances - Governmental Funds ............................ 21
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balance of Governmental Funds to the Statement of Activities ................................................................ 22
Statement of Net Position - Proprietary Funds ................................................................................................. 23
Statement of Revenues, Expenses, and Changes in Net Position 每 Proprietary Funds ...................................... 24
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balance of Proprietary Funds to the Statement of Activities .................................................................... 25
Statement of Cash Flows - Proprietary Funds ................................................................................................... 26
Statement of Fiduciary Net Position - Fiduciary Funds ..................................................................................... 27
Statement of Changes in Fiduciary Net Position - Fiduciary Funds................................................................... 28
Index to the Notes to Basic Financial Statements .................................................................................................. 29
Notes to Basic Financial Statements .......................................................................................................................... 30
Required Supplementary Information:
Schedule of Revenues, Expenditures and Encumbrances, and Changes in Fund Balances 每
Budget and Actual - Budgetary Basis - General Fund ................................................................................................. 93
Schedule of the City's Proportionate Share of Net Pension Liability ERS Plan.......................................................... 94
Schedule of Employer Contributions - ERS Plan ....................................................................................................... 94
Schedule of the City's Proportionate Share of Net Pension Liability Maryland State Retirement
and Pension System 每 ERPS ....................................................................................................................................... 95
Schedule of Employer Contributions Maryland State Retirement and Pension System-ERPS ................................... 95
Schedule of the City's Proportionate Share of Net Pension Liability Maryland State Retirement
and Pension System 每 LEOPS .............................................................................................................................. 95
Schedule of Employer Contributions Maryland State Retirement and Pension System-LEOPS ................................. 95
III
Page
Schedule of Changes in Net Pension Liability (Assets) and Related Ratios Fire and Police Employees' Retirement System - Single Employer Plan...................................................................... 96
Schedule of Changes in Net Pension Liability (Assets) and Related Ratios Elected Officials' Retirement System - Single Employer Plan ..................................................................................... 96
Schedule of Employer Contributions - Single Employer Plans .................................................................................. 97
Schedule of Changes in the Net OPEB Liabilities and Related Ratios ....................................................................... 98
Schedule of the City*s Proportionate Share of the Net OPEB Liability ..................................................................... 98
Notes to the Required Supplementary Information ......................................................................................................... 99
Combining and Individual Fund Statements and Schedule:
Combining Balance Sheet - Nonmajor Governmental Funds ................................................................................... 104
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds ................................................................................................................................. 105
Combining Statement of Net Position - Nonmajor Proprietary Funds ...................................................................... 108
Combining Statement of Revenues, Expenses, and Changes in Net Position Nonmajor Proprietary Funds ...................................................................................................................................... 109
Combining Statement of Cash Flows - Nonmajor Proprietary Funds ....................................................................... 110
Combining Statement of Fund Net Position - Internal Service Funds ...................................................................... 112
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position Internal Service Funds ................................................................................................................................................ 113
Combining Statement of Cash Flows - Internal Service Funds ................................................................................ 114
Combining Statement of Fiduciary Net Position 每 Pension and OPEB Trust Funds ................................................ 117
Combining Statement of Changes in Fiduciary Net Position - Pension and OPEBTrust Funds ................................ 118
Combining Statement of Assets and Liabilities - Agency Funds .............................................................................. 119
Combining Statement of Changes in Assets and Liabilities - Agency Funds ........................................................... 120
STATISTICAL SECTION (UNAUDITED)
Financial Trends ........................................................................................................................................................... 125
Net Position by Component, Last Ten Fiscal Years ................................................................................................... 127
Changes in Net Position, Last Ten Fiscal Years ......................................................................................................... 128
Fund Balances, Governmental Funds, Last Ten Fiscal Years ..................................................................................... 129
Changes in Fund Balances, Governmental Funds, Last Ten Fiscal Years .................................................................. 130
Revenue Capacity ......................................................................................................................................................... 131
Property Tax Levies and Collections, Last Ten Fiscal Years ..................................................................................... 133
Assessed and Estimated Actual Value of Taxable Property, Last Ten Fiscal Years ................................................... 133
Direct and Overlapping Property Tax Rates, Last Ten Fiscal Years........................................................................... 134
Principal Property Taxpayers, Current Year and Nine Years Ago ............................................................................. 134
Debt Capacity ............................................................................................................................................................... 135
Ratios of Outstanding Debt by Type, Primary Government, Last Ten Fiscal Years................................................... 137
Ratios of General Bonded Debt Outstanding, Last Ten Fiscal Years ......................................................................... 138
Direct and Overlapping Governmental Activities Debt .............................................................................................. 139
Legal Debt Margin Information ................................................................................................................................. 139
Pledged Revenue Coverage, Last Ten Fiscal Years.................................................................................................... 139
Demographic and Economic Information ..................................................................................................................... 141
Demographic and Economic Statistics, Last Ten Calendar Years .............................................................................. 143
Principal Employers, Current Year and Nine Years Ago ........................................................................................... 144
Operating Information .................................................................................................................................................. 145
Full Time Equivalent Employees by Function, Last Ten Years ................................................................................. 147
Operating Indicators by Function/Program, Last Ten Fiscal Years ............................................................................ 148
Capital Asset Statistics by Function/Program, Last Ten Fiscal Years ........................................................................ 149
IV
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