PDF Guilford County Board of Education

C OMPREHE NSIVE A NNUAL

F INANCIAL R EPORT

of the

GUILFORD COUNTY

BOARD OF EDUCATION

Greensboro, North Carolina

For the Fiscal Year Ended June 30, 2014

Prepared by:

Angela Henry, Chief Financial Officer

Daphna Schwartz, Assistant Financial Officer

T HIS PAGE LEFT INTENTIONALLY BLANK.

Guilford County Board of Education

TABLE OF CONTENTS

INTRODUCTORY SECTION

Letter of Transmittal ..............................................................................

Guilford County School System - Board Members and Principal

Officials ...............................................................................................

Guilford County Schools - Organizational Chart .....................................

Certificates of Excellence ......................................................................

Page No.

i

xi

xii

xiii-xiv

FINANCIAL SECTION

Independent Auditors¡¯ Report ................................................................

Management¡¯s Discussion and Analysis ................................................

Exhibit

1

2

3

3

4

4

5

6

7

8

9

10

1

5

Basic Financial Statements

Government-Wide Financial Statements:

Statement of Net Position ..................................................................

Statement of Activities .......................................................................

Fund Financial Statements:

Balance Sheet - Governmental Funds................................................

Reconciliation of the Balance Sheet to the Statement of Net

Position............................................................................................

Statement of Revenues, Expenditures and Changes in Fund

Balances - Governmental Funds ......................................................

Reconciliation of the Governmental Funds Statement of

Revenues, Expenditures and Changes in Fund Balances to

the District-Wide Statement of Activities ...........................................

Statement of Revenues, Expenditures and Changes in Fund

Balance - Budget and Actual - General and State Public

School Funds...................................................................................

Statement of Net Position - Proprietary Funds ....................................

Statement of Revenues, Expenses and Changes in Net

Position - Proprietary Funds .............................................................

Statement of Cash Flows - Proprietary Funds ....................................

Statement of Fiduciary Net Position ...................................................

Statement of Changes in Fiduciary Net Position .................................

Notes to Financial Statements............................................................

19

20

22

22

23

24

25

27

28

29

31

32

33

Guilford County Board of Education

TABLE OF CONTENTS (Continued)

Schedule

FINANCIAL SECTION (CONTINUED)

Page No.

Combining and Individual Fund

Statements and Schedules

1

2

3

4

5

6

7

8

9

10

Table

1

2

3

4

5

6

7

8

9

Schedule of Revenues, Expenditures and Changes in Fund

Balance - Budget and Actual - General Fund .......................................

Schedule of Revenues, Expenditures and Changes in Fund

Balance - Budget and Actual - Capital Outlay Fund ..............................

Combining Balance Sheet - Nonmajor Governmental Funds..................

Combining Schedule of Revenue, Expenditures and Changes in

Fund Balance - Nonmajor Governmental Funds...................................

Schedule of Revenues, Expenditures and Changes in Fund

Balance - Budget and Actual - Nonmajor Governmental Funds ............

Detailed Schedule of Revenues, Expenditures and Changes in

Fund Balances ¨C Individual Schools Fund ............................................

Schedule of Revenues and Expenditures - Budget and Actual

(Non-GAAP Modified Accrual Basis) - School Food Service

Fund ...................................................................................................

Schedule of Revenues and Expenditures - Budget and Actual

(Non-GAAP Modified Accrual Basis) - After School Care

Enrichment Services Fund ...................................................................

Fiduciary Funds

Combining Statement of Fiduciary Net Position ..................................

Combining Statement of Changes in Fiduciary Net Position ...............

59

63

66

67

69

72

78

79

82

84

Statistical Section

Net Position by Component - Last Ten Fiscal Years ..............................

Changes in Net Position - Last Ten Fiscal Years ...................................

Governmental Funds - Fund Balance - Last Ten Fiscal Years ................

Governmental Funds - Changes in Fund Balances - Last Ten

Fiscal Years ........................................................................................

Governmental Fund Revenues by Source - Last Ten Fiscal

Years ..................................................................................................

Governmental Fund Expenditures by Function - Last Ten Fiscal

Years ..................................................................................................

Property Tax Levies and Collections for Guilford County - Last

Ten Fiscal Years .................................................................................

Assessed and Estimated Actual Value of Taxable Property for

Guilford County - Last Ten Fiscal Years ...............................................

Property Tax Rates - All Direct and Overlapping Governments

for Guilford County - Last Ten Fiscal Years ..........................................

89

90

92

94

96

98

100

102

104

Guilford County Board of Education

TABLE OF CONTENTS (Continued)

Table

10

11

12

13

14

15

16

17

18

19

20

21

Statistical Section (Continued)

Ratio of Outstanding Debt by Type for Guilford County - Last

Ten Fiscal Years .................................................................................

Direct and Overlapping Governmental Activities Debt for

Guilford County ...................................................................................

Principal Taxpayers in Guilford County - Current Year and Nine

Years Ago ...........................................................................................

Legal Debt Margin Information - Guilford County - Last Ten

Fiscal Years ........................................................................................

Demographic Statistics for Guilford County - Last Ten Fiscal

Years ..................................................................................................

Principal Employers - Current Year and Nine Years Ago........................

Full-Time Equivalent Employees by Function - Last Ten Fiscal

Years ..................................................................................................

Comparative Average Daily Membership - School and Special

Programs - Last Ten Fiscal Years ........................................................

Operating Statistics - Last Ten Fiscal Years...........................................

Instructional Personnel ..........................................................................

School Building Data - Elementary, Middle, High School and

Special Use Facilities...........................................................................

Capital Lease and Installment Purchase Payments - Last Ten

Fiscal Years ........................................................................................

Page No.

106

107

109

110

112

113

114

116

120

123

124

132

COMPLIANCE SECTION

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

Report on Compliance with Requirements Applicable to Each

Major Federal Program and Internal Control Over Compliance

in Accordance with OMB Circular A-133 and the State Single

Audit Implementation Act .....................................................................

Report on Compliance with Requirements Applicable to Each

Major State Program and Internal Control Over Compliance in

Accordance with OMB Circular A-133 and the State Single

Audit Implementation Act .....................................................................

137

139

141

Schedule

11

12

13

14

Schedule of Findings and Questioned Costs .........................................

Corrective Action Plan ...........................................................................

Summary Schedule of Prior Year Audit Findings....................................

Schedule of Expenditures of Federal and State Awards .........................

144

148

149

150

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