Baltimore City Public School System Baltimore, Maryland A ...

Baltimore City Public School System Baltimore, Maryland

A Component Unit of the City of Baltimore

Robert Poole Middle Academy for College and Career Exploration & Independence School

Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2019

BALTIMORE CITY PUBLIC SCHOOLS

A COMPONENT UNIT OF THE CITY OF BALTIMORE, MARYLAND

Comprehensive Annual Financial Report

Fiscal Year Ended June 30, 2019

Prepared by: The Office of the Chief Financial Officer

200 E. North Avenue Baltimore, Maryland 21202

Nyan Berry, Kindergarten

Winter Trees Collage

Thomas Jefferson Elementary/Middle School, #232 Sharmia Crawford, Teacher

INTRODUCTORY SECTION

Mekhi Sheppard, 1st Grade

Soloman Sharpie Markers and Tempera Wildwood Elementary/Middle School, #88

Brittany Carr, Teacher

BALTIMORE CITY PUBLIC SCHOOL SYSTEM A COMPONENT UNIT OF THE CITY OF BALTIMORE

Year Ended June 30, 2019

TABLE OF CONTENTS

INTRODUCTORY SECTION

Letter of Transmittal ............................................................................................................................................................ i Student Artwork ..................................................................................................................................................................x Principal Officials.............................................................................................................................................................. xi Organization Chart ........................................................................................................................................................... xii Association of School Business Officials FY18 CAFR Certificate of Excellence in Financial Reporting ..................... xiii Government Finance Officers Association FY18 CAFR Certificate of Achievement for Excellence

in Financial Reporting ............................................................................................................................................. xiv

FINANCIAL SECTION

Independent Auditors' Report .............................................................................................................................................1 Management's Discussion and Analysis .............................................................................................................................4

BASIC FINANCIAL STATEMENTS

Governmental Activities: Statement of Net Position ...........................................................................................................................................11 Statement of Activities ...............................................................................................................................................12

Fund Financial Statements: Balance Sheet - Governmental Funds ........................................................................................................................13 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position.....................................14 Statement of Revenue, Expenditures, and Changes in Fund Balance ? Governmental Funds ...................................15 Reconciliation of the Governmental Funds - Statement of Revenue, Expenditures, and Changes in Fund Balances to the Statement of Activities..................................................................................................16 Statement of Fiduciary Assets and Liabilities ............................................................................................................17

Notes to the Basic Financial Statements: Note 1: Summary of Significant Accounting Policies................................................................................................18 Note 2: Budgeting and Budgetary Control ................................................................................................................24 Note 3: Cash and Cash Equivalents and Investments.................................................................................................26 Note 4: Capital Assets ................................................................................................................................................29 Note 5: General Long-Term Obligations....................................................................................................................31 Note 6: Interfund Receivables and Payables, and Transfers.......................................................................................35 Note 7: Risk Management ..........................................................................................................................................35 Note 8: Retirement Plans............................................................................................................................................36 Note 9: Post-Employment Benefits ............................................................................................................................41 Note 10: Fund Balance ...............................................................................................................................................44 Note 11: Encumbrances..............................................................................................................................................45 Note 12: Litigation and Contingencies .......................................................................................................................45 Note 13: Comparative Summarized Totals.................................................................................................................45 Note 14: Contingencies and Commitments ................................................................................................................46

REQUIRED SUPPLEMENTARY INFORMATION

Budgetary Comparison Schedule ? General Fund.............................................................................................................47 Budgetary Comparison Schedule - Special Revenue Fund ...............................................................................................48 Budgetary Comparison Schedule ? Food Service Fund ....................................................................................................49 Schedule of Contributions ? Teachers Retirement and Pension System ...........................................................................50 Schedule of Contributions ? Employees Retirement System of the City of Baltimore .....................................................52 Schedule of City Schools' Proportionate Share of the Net OPEB Liability ? City of Baltimore Postemployment

Benefit Plan ................................................................................................................................................................54 Schedule of City Schools' Contribution to City of Baltimore Postemployment Benefit Plan...........................................56

SUPPLEMENTARY INFORMATION

Capital Projects Fund ? Budgetary Comparison................................................................................................................57 Schedule of Changes in Fiduciary Assets and Liabilities ..................................................................................................58

STATISTICAL SECTION

Statistical Section Narrative ..............................................................................................................................................59 Net Position by Component...............................................................................................................................................60 Changes in Net Position ....................................................................................................................................................61 Fund Balances, Governmental Funds ................................................................................................................................62 Governmental Funds Revenues .........................................................................................................................................63 Governmental Funds, Expenditures and Debt Service Ratio.............................................................................................64 Other Financing Sources and Uses and Net Change in Fund Balances, Governmental Funds..........................................65 Assessed and Estimated Actual Value of Taxable Property ..............................................................................................66 State Aid ............................................................................................................................................................................67 Direct and Overlapping Property Tax Rates......................................................................................................................68 Principal Property Tax Payers ...........................................................................................................................................69 Property Tax Levies and Collections.................................................................................................................................70 Demographic and Economic Statistics ..............................................................................................................................71 Principal Employers ..........................................................................................................................................................72 Outstanding Debt by Type.................................................................................................................................................73 Direct and Overlapping Debt.............................................................................................................................................74 Table of Existing Debt and Debt Limitation......................................................................................................................75 Pledged Revenue Coverage ...............................................................................................................................................77 Full-Time Equivalent Employees by Type........................................................................................................................78 Enrollment by Grade .........................................................................................................................................................79 Operating Statistics............................................................................................................................................................80 Teacher Base Salaries ........................................................................................................................................................81 School Building Information .............................................................................................................................................82

COMPLIANCE

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 ..............................................................................................................................103

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download