MADISON COUNTY TENNESSEE - TN Comptroller
ANNUAL FINANCIAL REPORT MADISON COUNTY, TENNESSEE
FOR THE YEAR ENDED JUNE 30, 2019
DIVISION OF LOCAL GOVERNMENT AUDIT
ANNUAL FINANCIAL REPORT MADISON COUNTY, TENNESSEE FOR THE YEAR ENDED JUNE 30, 2019
COMPTROLLER OF THE TREASURY JUSTIN P. WILSON
DIVISION OF LOCAL GOVERNMENT AUDIT JAMES R. ARNETTE Director
LEE ANN WEST, CPA, CGFM Audit Manager
JUSTIN NEAL, CPA, CGFM LAUREN LEWIS, CPA MEGAN FOSTER MADISON LASTER
ELISHA CROWELL, CISA, CFE State Auditors
This financial report is available at ptroller.
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MADISON COUNTY, TENNESSEE TABLE OF CONTENTS
Summary of Audit Findings
INTRODUCTORY SECTION
Madison County Officials
FINANCIAL SECTION
Independent Auditor's Report Management's Discussion and Analysis BASIC FINANCIAL STATEMENTS:
Government-wide Financial Statements: Statement of Net Position Statement of Activities
Fund Financial Statements: Governmental Funds: Balance Sheet Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position Statement of Revenues, Expenditures, and Changes in Fund Balances Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities Statements of Revenues, Expenditures, and Changes in Fund Balances ? Actual (Budgetary Basis) and Budget: General Fund Highway/Public Works Fund Proprietary Fund: Statement of Net Position Statement of Revenues, Expenses, and Changes in Net Position Statement of Cash Flows Fiduciary Funds: Statement of Fiduciary Assets and Liabilities
Index and Notes to the Financial Statements REQUIRED SUPPLEMENTARY INFORMATION:
Schedule of Changes in Net Pension Liability (Asset) and Related Ratios Based on Participation in the Public Employee Pension Plan of TCRS ? Primary Government
Schedule of Contributions Based on Participation in the Public Employee Pension Plan of TCRS ? Primary Government
Exhibit
A B
Page(s)
6
7
8-9
10
11-13 14-20
21
22-23 24-25
C-1
26-28
C-2
29
C-3
30-33
C-4
34
C-5
35-38
C-6
39
D-1
40
D-2
41
D-3
42
E
43
44-111
112
F-1
113
F-2
114
3
Schedule of Contributions Based on Participation in the Teacher Retirement Plan of TCRS ? Discretely Presented Madison County School Department
Schedule of Contributions Based on Participation in the Teacher Legacy Pension Plan of TCRS ? Discretely Presented Madison County School Department
Schedule of Proportionate Share of the Net Pension Asset in the Teacher Retirement Plan of TCRS ? Discretely Presented Madison County School Department
Schedule of Proportionate Share of the Net Pension Asset in the Teacher Legacy Pension Plan of TCRS ? Discretely Presented Madison County School Department
Schedule of Changes in Total OPEB Liability and Related Ratios - Self-Insurance Plan - Primary Government
Schedule of Changes in Total OPEB Liability and Related Ratios - Local Education Plan - Discretely Presented Madison County School Department
Notes to the Required Supplementary Information COMBINING AND INDIVIDUAL FUND FINANCIAL
STATEMENTS AND SCHEDULES: Nonmajor Governmental Funds: Combining Balance Sheet Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Schedules of Revenues, Expenditures, and Changes in Fund Balances ? Actual (Budgetary Basis) and Budget: Juvenile Services Fund Solid Waste/Sanitation Fund Local Purpose Tax Fund Special Purpose Fund Drug Control Fund Other Special Revenue Fund Community Development/Industrial Park Fund Major Governmental Funds: Schedule of Revenues, Expenditures, and Changes in Fund Balance ? Actual (Budgetary Basis) and Budget: General Debt Service Fund General Capital Projects Fund Fiduciary Funds: Combining Statement of Fiduciary Assets and Liabilities Combining Statement of Changes in Assets and Liabilities ? All Agency Funds Component Unit: Discretely Presented Madison County School Department: Statement of Activities Balance Sheet ? Governmental Funds Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
Exhibit Page(s)
F-3
115
F-4
116
F-5
117
F-6
118
F-7
119
F-8
120
121
122
123-124
G-1
125-128
G-2
129-132
G-3
133
G-4
134
G-5
135
G-6
136
G-7
137
G-8
138
G-9
139
140
H-1
141
H-2
142-143
144
I-1
145
I-2
146-147
148
J-1
149
J-2
150-151
J-3
152
4
Statement of Revenues, Expenditures, and Changes in Fund Balances ? Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities
Combining Balance Sheet - Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures, and Changes in
Fund Balances - Nonmajor Governmental Funds Schedules of Revenues, Expenditures, and Changes in Fund
Balances ? Actual (Budgetary Basis) and Budget: General Purpose School Fund School Federal Projects Fund Central Cafeteria Fund Education Capital Projects Fund
Fiduciary Fund: Statement of Fiduciary Net Position Statement of Changes in Fiduciary Net Position
Miscellaneous Schedules: Schedule of Changes in Long-term Notes and Bonds Schedule of Long-term Debt Requirements by Year Schedule of Transfers - Primary Government and Discretely Presented Madison County School Department Schedule of Salaries and Official Bonds of Principal Officials ? Primary Government and Discretely Presented Madison County School Department Schedule of Detailed Revenues ? All Governmental Fund Types Schedule of Detailed Revenues ? All Governmental Fund Types ? Discretely Presented Madison County School Department Schedule of Detailed Expenditures ? All Governmental Fund Types Schedule of Detailed Expenditures ? All Governmental Fund Types ? Discretely Presented Madison County School Department Schedule of Detailed Receipts, Disbursements, and Changes in Cash Balances ? City Agency Funds
SINGLE AUDIT SECTION
Auditor's 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
Auditor's Report on Compliance for Each Major Program; Report on Internal Control Over Compliance; and Report on the Schedule of Expenditures of Federal Awards Required by the Uniform Guidance
Schedule of Expenditures of Federal Awards and State Grants Summary Schedule of Prior-year Findings Schedule of Findings and Questioned Costs Management's Corrective Action Plan
Exhibit Page(s)
J-4
153-154
J-5
155
J-6
156
J-7
157
J-8 J-9 J-10 J-11
J-12 J-13
K-1 K-2
K-3
158-159 160-161
162 163
164 165 166 167 168
169
K-4
170
K-5
171-191
K-6
192-195
K-7
196-227
K-8
228-241
K-9
242
243
244-245
246-248 249-251
252 253-256 257-259
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