COMPREHENSIVE

COMPREHENSIVE ANNUAL FINANCIAL REPORT

of the

City of Denison, Texas

For the Year Ended September 30, 2018

Prepared by Jud Rex

City Manager Renee' Waggoner D i r e c t o r o f Finance & Administrative Services Laurie Alsabbagh A s s i s t a n t Finance Director

City of Denison, Texas

TABLE OF CONTENTS September 30, 2018

INTRODUCTORY SECTION Letter of Transmittal GFOA Certificate of Achievement Organizational Chart List of Principal Officials

Page i vi vii

viii

FINANCIAL SECTION

Independent Auditor's Report on Financial Statements

1

Management's Discussion and Analysis

5

Basic Financial Statements:

Government-wide Financial Statements

Statement of Net Position

18

Statement of Activities

20

Fund Financial Statements:

Balance Sheet - Governmental Funds

22

Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 23

Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental

24

Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances

of Governmental Funds to the Statement of Activities

25

Statement of Net Position - Proprietary Funds

26

Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds

27

Statement of Cash Flows - Proprietary Funds

28

Statement of Fiduciary Net Position - Fiduciary Fund

31

Notes to the Financial Statements

33

Required Supplementary Information:

Schedule of Revenues, Expenditures, and Changes in Fund Balances -

Budget (GAAP Basis) and Actual - General Fund

80

Schedule of Changes in Net Pension Liability and Related Ratios -

Texas Municipal Retirement System

82

Schedule of Employer Contributions to Pension Plan -

Texas Municipal Retirement System

83

Schedule of Changes in Net Pension Liability and Related Ratios -

Denison Firemen's Relief and Retirement Fund

84

Schedule of Employer Contributions to Pension Plan -

Denison Firemen's Relief and Retirement Fund

85

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