Basic Financial Statements Government-wide Financial ...

State of Washington

Basic Financial Statements

Government-wide Financial Statements

35 Basic Financial Statements

State of Washington

Statement of Net Position

June 30, 2018 (expressed in thousands)

ASSETS AND DEFERRED OUTFLOWS OF RESOURCES ASSETS Cash and cash equivalents Taxes receivable (net of allowance for uncollectibles) Other receivables (net of allowance for uncollectibles) Internal balances Due from other governments Inventories and prepaids Restricted cash and investments Restricted receivables, current Investments, noncurrent Restricted investments, noncurrent Restricted receivables, noncurrent Restricted net pension asset Other assets Capital assets:

Non-depreciable assets Depreciable assets (net of accumulated depreciation) Total capital assets

Total Assets

Primary Government

Governmental Business-Type

Activities

Activities

Total

$ 9,440,400 4,810,007 2,393,707 336,264 4,444,596 121,173 287,006 69,331 6,694,898 -- -- 1,879,159 --

$ 8,042,530 40

1,887,186 (336,264) 150,815

60,988 77,476 36,592 17,021,803

-- 735 454 295,009

$ 17,482,930 4,810,047 4,280,893 -- 4,595,411 182,161 364,482 105,923

23,716,701 --

735 1,879,613

295,009

28,946,390 12,097,601 41,043,991 71,520,532

532,071 2,803,438 3,335,509 30,572,873

29,478,461 14,901,039 44,379,500 102,093,405

Continued

Component Units

$ 239,846 --

102,788 -- --

25,306 -- --

66,663 13,318

-- -- 288,208

94,433 552,421 646,854 1,382,983

DEFERRED OUTFLOWS OF RESOURCES Deferred outflows on refundings Deferred outflows on pensions Deferred outflows on OPEB Total Deferred Outflows of Resources

Total Assets and Deferred Outflows of Resources

4,135 982,452 121,518 1,108,105 $ 72,628,637

38,863 119,077

12,690 170,630 $ 30,743,503

42,998 1,101,529

134,208 1,278,735 $ 103,372,140

12,491 2,697 57

15,245 $ 1,398,228

The notes to the financial statements are an integral part of this statement.

36 Basic Financial Statements

State of Washington

Statement of Net Position

June 30, 2018 (expressed in thousands)

LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND NET POSITION LIABILITIES Accounts payable Accrued liabilities Obligations under security lending agreements Due to other governments Unearned revenues Long-term liabilities:

Due within one year Due in more than one year

Total Liabilities

Primary Government

Governmental Business-Type

Activities

Activities

Total

$ 2,255,967 $ 1,619,344 -- 1,568,935 466,082

268,417 669,465 122,237

43,818 62,583

$ 2,524,384 2,288,809 122,237 1,612,753 528,665

1,898,706 34,087,221 41,896,255

2,581,358 30,950,414 34,698,292

4,480,064 65,037,635 76,594,547

Concluded

Component Units

$

35,053

121,064

--

--

8,747

11,410 321,527 497,801

DEFERRED INFLOWS OF RESOURCES Deferred inflows on hedging derivatives Deferred inflows on refundings Deferred inflows on pensions Deferred inflows on OPEB Deferred inflows on irrevocable split interest agreements Deferred inflows on property taxes Total Deferred Inflows of Resources

3,869 2,183 1,029,198 737,501 45,663

-- 1,818,414

-- 23 83,086 106,161 -- -- 189,270

3,869 2,206 1,112,284 843,662 45,663

-- 2,007,684

-- -- 2,424 529

25,031 27,984

NET POSITION Net investment in capital assets Restricted for:

Unemployment compensation Nonexpendable permanent endowments Expendable endowment funds Pensions Wildlife and natural resources Transportation Budget stabilization Higher education Capital projects Other purposes Unrestricted Total Net Position Total Liabilities, Deferred Inflows of Resources, and Net Position

21,749,060

846,822

22,595,882

351,429

-- 2,674,263 1,639,382 1,879,159 1,089,027 1,399,032 1,369,438

126,261 274,454 877,098 (4,163,206) 28,913,968

4,824,074 -- --

454 -- -- -- -- -- --

(9,815,409) (4,144,059)

4,824,074 2,674,263 1,639,382 1,879,613 1,089,027 1,399,032 1,369,438

126,261 274,454 877,098 (13,978,615) 24,769,909

-- -- -- -- -- -- -- -- -- 9,773 511,241 872,443

$ 72,628,637 $ 30,743,503 $ 103,372,140 $ 1,398,228

The notes to the financial statements are an integral part of this statement.

37 Basic Financial Statements

State of Washington

Statement of Activities

For the Fiscal Year Ended June 30, 2018 (expressed in thousands)

Functions/Programs

PRIMARY GOVERNMENT Governmental Activities:

General government Education - K-12 education Education - higher education Human services Adult corrections Natural resources and recreation Transportation Interest on long-term debt

Total Governmental Activities

Business-Type Activities: Workers' compensation Unemployment compensation Higher education student services Washington's lottery Guaranteed education tuition program Other Total Business-Type Activities

Total Primary Government

Expenses

Charges for Services

Program Revenues

Operating Grants and Contributions

Capitol Grants and Contributions

$ 1,686,943 $

907,821 $

292,686 $

12,012,236

27,778

1,111,103

7,661,620

3,058,782

2,311,847

18,862,827

736,677

12,075,552

1,066,875

28,527

2,439

1,184,591

616,605

193,743

2,485,116

1,794,268

132,466

1,002,024

--

--

45,962,232

7,170,458

16,119,836

3,689,553 935,042

3,118,741 557,187 173,651 188,086

8,662,260

2,774,652 1,039,340 3,139,025

736,816 84,004

145,730 7,919,567

11,466 40,569 13,811

-- -- 457 66,303

$ 54,624,492 $ 15,090,025 $ 16,186,139 $

796 --

157,878 -- --

32,952 781,527

-- 973,153

-- -- -- -- -- -- --

973,153

COMPONENT UNITS Total Component Units

$

727,499 $

742,132 $

31,466 $

--

$

727,499 $

742,132 $

31,466 $

--

General Revenues: Taxes, net of related credits: Sales and use Business and occupation Property Motor vehicle and fuel Excise Cigarette and tobacco Public utilities Insurance premium Other Interest and investment earnings

Total general revenues

Excess (deficiency) of revenues over expenses before contributions to endowments and transfers

Contributions to endowments Transfers

Change in Net Position

Net Position - Beginning, as restated

Net Position - Ending

The notes to the financial statements are an integral part of this statement.

38 Basic Financial Statements

State of Washington

Net (Expense) Revenue and Changes in Net Position Primary Government

Governmental Activities

Business-Type Activities

Total

Component Units

$

(485,640) $

(10,873,355)

(2,133,113)

(6,050,598)

(1,035,909)

(341,291)

223,145

(1,002,024)

(21,698,785)

-- -- -- -- -- -- --

$ (21,698,785) $

-- $

(485,640)

--

(10,873,355)

--

(2,133,113)

--

(6,050,598)

--

(1,035,909)

--

(341,291)

--

223,145

--

(1,002,024)

--

(21,698,785)

(903,435) 144,867

34,095 179,629 (89,647) (41,899) (676,390)

(676,390)

(903,435) 144,867

34,095 179,629 (89,647) (41,899) (676,390)

$ (22,375,175)

$ $

46,099 46,099

11,154,008 4,182,744 3,347,110 1,731,565 1,599,522 422,264 481,571 630,657 1,313,813 561,344

25,424,598

3,725,813

-- -- -- -- 22,570 -- -- -- -- 501,765 524,335

(152,055)

11,154,008 4,182,744 3,347,110 1,731,565 1,622,092 422,264 481,571 630,657 1,313,813 1,063,109

25,948,933

3,573,758

108,860 151,536 3,986,209

-- (151,536) (303,591)

108,860 --

3,682,618

24,927,759

(3,840,468)

21,087,291

$ 28,913,968 $ (4,144,059) $ 24,769,909 $

-- -- 22,722 -- -- -- -- -- 17,414 3,466 43,602 89,701

-- -- 89,701

782,742

872,443

39 Basic Financial Statements

State of Washington

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40 Basic Financial Statements

State of Washington

Basic Financial Statements

Fund Financial Statements

41 Basic Financial Statements

State of Washington

Balance Sheet GOVERNMENTAL FUNDS

June 30, 2018 (expressed in thousands)

ASSETS Cash and cash equivalents Investments Taxes receivable (net of allowance) Receivables (net of allowance) Due from other funds Due from other governments Inventories and prepaids Restricted cash and investments Restricted receivables Total Assets

General

Higher Education Special Revenue

Higher Education Endowment

Nonmajor Governmental

Funds

Total

$ 3,608,088 78,673

4,566,740 721,729 560,699

1,528,168 13,743 28,734 20,189

$ 11,126,763

$ 171,357 2,005,473 21,179 652,579 1,036,688 216,633 29,046 924 41,748

$ 4,175,627

$ 623,630 4,319,999 -- 31,870 1,007 1,700 -- -- --

$ 4,978,206

$ 4,249,446 267,491 222,088 908,366 348,393

2,530,363 48,765 60,235 5,154

$ 8,640,301

$ 8,652,521 6,671,636 4,810,007 2,314,544 1,946,787 4,276,864 91,554 89,893 67,091

$ 28,920,897

LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES LIABILITIES Accounts payable Accrued liabilities Due to other funds Due to other governments Unearned revenue Claims and judgments payable

Total Liabilities

$ 1,596,400 $ 269,006 $

314,990

506,373

196,863

265,585

1,216,476

33,486

141,549

232,593

54,160

--

3,520,438

1,307,043

39,176 69,808 668,295

-- -- -- 777,279

$ 318,245 194,927 489,188 132,628 87,307 91,655

1,313,950

$ 2,222,827 1,086,098 1,619,931 1,382,590 461,449 145,815 6,918,710

DEFERRED INFLOWS OF RESOURCES Unavailable revenue Deferred inflows on hedging derivatives Deferred inflows on irrevocable split interest agreements

Total Deferred Inflows of Resources

2,176,261 --

-- 2,176,261

13,731 --

-- 13,731

16,143 --

45,663 61,806

166,535 3,869

-- 170,404

2,372,670 3,869

45,663 2,422,202

FUND BALANCES Nonspendable fund balance Restricted fund balance Committed fund balance Assigned fund balance Unassigned fund balance

Total Fund Balances

Total Liabilities, Deferred Inflows of Resources, and Fund Balances

45,400 1,476,149

387,930 1,513,952 2,006,633 5,430,064

45,292 45,529 2,745,732 18,300

-- 2,854,853

2,466,357 1,672,764

-- -- -- 4,139,121

256,672 3,580,250 3,319,281

-- (256) 7,155,947

2,813,721 6,774,692 6,452,943 1,532,252 2,006,377 19,579,985

$ 11,126,763 $ 4,175,627 $ 4,978,206 $ 8,640,301 $ 28,920,897

The notes to the financial statements are an integral part of this statement.

42 Basic Financial Statements

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