Jackson-Madison County Schools 2019

JACKSON-MADISON COUNTY CONSOLIDATED SCHOOL SYSTEM

INTERNAL SCHOOL FUNDS

FINANCIAL STATEMENTS

JUNE 30, 2019

JACKSON-MADISON COUNTY CONSOLIDATED SCHOOL SYSTEM INTERNAL SCHOOL FUNDS TABLE OF CONTENTS

Introductory Section Roster of Publicly Elected Officials and Roster of Appointed Officials.....................................................................1

Independent Auditor's Report .....................................................................................................................................2

Financial Statements Combined Balance Sheet (Regulatory Basis) - All Schools .....................................................................................5 Combined Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) - All Schools ................................................................................7 Notes to Financial Statements..................................................................................................................................8

Supplementary Information Individual Financial Statements

Alexander Elementary School Balance Sheet (Regulatory Basis).......................................................................................................................16 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) ....................................................................................................................17

Andrew Jackson Elementary School Balance Sheet (Regulatory Basis)........................................................................................................................18 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................19

Arlington Elementary School Balance Sheet (Regulatory Basis).......................................................................................................................20 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) ....................................................................................................................21

Denmark Elementary School Balance Sheet (Regulatory Basis).......................................................................................................................22 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................23

East Elementary School Balance Sheet (Regulatory Basis)........................................................................................................................24 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................25

Jackson Career and Technology School Balance Sheet (Regulatory Basis)........................................................................................................................26 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................27

Isaac Lane Elementary School Balance Sheet (Regulatory Basis).......................................................................................................................28 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................29

JACKSON-MADISON COUNTY CONSOLIDATED SCHOOL SYSTEM INTERNAL SCHOOL FUNDS TABLE OF CONTENTS

Lincoln Elementary School Balance Sheet (Regulatory Basis).......................................................................................................................30 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................31

Community Montessori Balance Sheet (Regulatory Basis)........................................................................................................................32 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................33

Pope School Balance Sheet (Regulatory Basis)........................................................................................................................34 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................35

South Elementary School Balance Sheet (Regulatory Basis)........................................................................................................................36 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................37

Thelma Barker Elementary School Balance Sheet (Regulatory Basis)........................................................................................................................38 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................39

Nova Early Learning Center Balance Sheet (Regulatory Basis)........................................................................................................................40 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................41

North Parkway Middle School Balance Sheet (Regulatory Basis).......................................................................................................................42 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................43

Northeast Middle School Balance Sheet (Regulatory Basis)........................................................................................................................44 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................45

Parkview Learning Center Balance Sheet (Regulatory Basis)........................................................................................................................46 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................47

Rose Hill School Balance Sheet (Regulatory Basis)........................................................................................................................48 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................49

West Bemis Middle School Balance Sheet (Regulatory Basis)........................................................................................................................50 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................51

JACKSON-MADISON COUNTY CONSOLIDATED SCHOOL SYSTEM INTERNAL SCHOOL FUNDS TABLE OF CONTENTS

Liberty Technology Magnet High School Balance Sheet (Regulatory Basis)........................................................................................................................52 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................54 Detailed Schedule of Activities and Athletics .......................................................................................................55 Detailed Schedule of Departments and Vocational..............................................................................................56

Madison Academic Magnet High School Balance Sheet (Regulatory Basis)........................................................................................................................57 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................59 Detailed Schedule of Activities and Athletics .......................................................................................................60 Detailed Schedule of Departments.......................................................................................................................61

North Side High School Balance Sheet (Regulatory Basis)........................................................................................................................62 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................64 Detailed Schedule of Activities and Athletics .......................................................................................................65 Detailed Schedule of Departments and Vocational..............................................................................................66

South Side High School Balance Sheet (Regulatory Basis)........................................................................................................................67 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................69 Detailed Schedule of Activities and Athletics .......................................................................................................70 Detailed Schedule of Departments and Vocational..............................................................................................71

Jackson Central-Merry Early College High School Balance Sheet (Regulatory Basis)........................................................................................................................72 Statement of Revenues, Expenditures, and Changes in Fund Balances (Regulatory Basis) .....................................................................................................................73

Supplemental Schedules and Other Information Schedule of Inter-Fund Transfers North Parkway Middle School.............................................................................................................................74 Liberty Technology Magnet High School ........................................................................................................... 75 Madison Academic High School ........................................................................................................................ 76 North Side High School.......................................................................................................................................77 South Side High School ..................................................................................................................................... 78 Jackson Central-Merry Early College High School.............................................................................................79 Schedule of Salary Supplements.......................................................................................................................... 80 Schedule of Insurance Coverage...........................................................................................................................82

JACKSON-MADISON COUNTY CONSOLIDATED SCHOOL SYSTEM INTERNAL SCHOOL FUNDS TABLE OF CONTENTS

Internal Control and Compliance Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance With Government Auditing Standards .............................................................................................................................................83

Schedule of Findings and Recommendations..........................................................................................................85

Schedule of Prior Year Findings...............................................................................................................................91

Management's Corrective Action Plan .....................................................................................................................92

JACKSON-MADISON COUNTY CONSOLIDATED SCHOOL SYSTEM INTERNAL SCHOOL FUNDS

ROSTER OF PUBLICLY ELECTED OFFICIALS AND ROSTER OF APPOINTED OFFICIALS For the Year Ended June 30, 2019

ROSTER OF ELECTED OFFICIALS

Board of Education:

Kevin Alexander, Board Chairman Jackson, Tennessee Wayne Arnold Jackson, Tennessee Dorothy Black Jackson, Tennessee Jim Campbell Jackson, Tennessee Janice Hampton Jackson, Tennessee James Johnson Jackson, Tennessee AJ Massey Jackson, Tennessee Morris Merriweather Jackson, Tennessee Shannon Stewart Jackson, Tennessee

Superintendent:

ROSTER OF APPOINTED OFFICIALS Dr. Eric Jones Jackson, Tennessee

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Independent Auditor's Report

Board of Education Jackson-Madison County Consolidated School System Jackson, Tennessee

Report on the Financial Statements

We have audited the accompanying combined balance sheet - regulatory basis of the Jackson-Madison County Consolidated School System Internal School Funds (System), as of June 30, 2019, and the related combined statement of revenues, expenditures, and changes in fund balances - regulatory basis for the year then ended, and the related notes to the financial statements, which collectively comprise the System's basic financial statements, as listed in the table of contents. We also have audited the individual school balance sheets ? regulatory basis and the individual school statements of revenues, expenditures, and changes in fund balances ? regulatory basis presented as supplementary information, in the accompanying individual school financial statements as of and for the year ended June 30, 2019, as listed in the table of contents.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with the financial reporting provisions of the Tennessee Internal School Uniform Accounting Policy Manual, as described in Note 1. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

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