County of Fairfax, Virginia

County of Fairfax, Virginia

Comprehensive Annual Financial

Report

For the Fiscal Year Ended June 30, 2016

Front Cover Photographs:

Spring* ? Green Spring Gardens, Alexandria Summer** ? Frying Pan Farm Park , Herndon Fall** ? Lake Accotink Park, Springfield Winter** ? Hidden Pond Nature Center, Springfield

Background*** - Tysons

*photograph courtesy of the Fairfax County Park Authority

**photographs courtesy of the Fairfax County Office of Public Affairs ***photograph courtesy of the Fairfax County Economic Development Authority

Comprehensive AnnuAl FinAnCiAl report

For the Fiscal Year Ended June 30, 2016

DepArtment oF FinAnCe

12000 Government Center Parkway, Suite 214 Fairfax, Virginia 22035 (703) 324-3120, TTY 711

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County of fairfax, Virginia ComprehensiVe annual finanCial report

Table of ConTenTs

County oF FAirFAx, virginiA Comprehensive AnnuAl FinAnCiAl report

For the Fiscal Year Ended June 30, 2016

tAble oF Contents

pAge

introDuCtory seCtion (unaudited) Letter of Transmittal................................................................................................................................IX Directory of Officials ..................................................................................................................... XXXIII Organizational Chart ........................................................................................................................XXXV Certificate of Achievement for Excellence in Financial Reporting...............................................XXXVII

FinAnCiAl seCtion Report of Independent Auditor.................................................................................................................. 1 Management's Discussion and Analysis (unaudited) ............................................................................... 3 Basic Financial Statements ..................................................................................................................... 19

Exhibit

A A-1 A-2 A-3

A-4 A-5

A-6 A-7 A-8 A-9 A-10

Statement of Net Position ............................................................................................. 20 Statement of Activities .................................................................................................. 24 Balance Sheet ? Governmental Funds with Reconciliation.......................................... 26 Statement of Revenues, Expenditures, and Changes in Fund Balances ? Governmental Funds with Reconciliation .................................................. 30 Statement of Net Position ? Proprietary Funds............................................................. 32 Statement of Revenues, Expenses, and Changes in Net Position ? Proprietary Funds......................................................................................... 34 Statement of Cash Flows ? Proprietary Funds.............................................................. 35 Statement of Fiduciary Net Position ............................................................................. 36 Statement of Changes in Plan Net Position ? Trust Funds ........................................... 37 Combining Statement of Net Position ? Component Units .......................................... 38 Combining Statement of Activities ? Component Units............................................... 42

Notes to the Financial Statements

A

Summary of Significant Accounting Policies ............................................................... 45

B

Deposits and Investments.............................................................................................. 56

C

Property Taxes............................................................................................................... 76

D

Receivables ................................................................................................................... 77

E

Interfund Balances and Transfers.................................................................................. 78

F

Capital Assets................................................................................................................ 79

G

Retirement Plans ........................................................................................................... 82

H

Other Post-Employment Benefits.................................................................................. 97

I

Risk Management ...................................................................................................... 104

J

Long-Term Obligations .............................................................................................. 105

K

Long-Term Commitments .......................................................................................... 118

L

Contingent Liabilities.................................................................................................. 122

M

Implementation of New Accounting Pronouncements ............................................... 122

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Required Supplementary Information................................................................................................. 123

Budgetary Comparison Schedule ? General Fund (Budget Basis) .............................................. 123 Schedule of Changes in Net Pension Liability and Related Ratios: Employees' Retirement System Last Ten Fiscal Years................................................................. 124 Police Officers Retirement System Last Ten Fiscal Years............................................................ 125 Uniformed Retirement System Last Ten Fiscal Years.................................................................. 126 Educational Employees Supplementary Retirement System Last Ten Fiscal Years .................... 127 Schedule of Net Pension Liability-Single Employer Plans Last Ten Fiscal Years....................... 128 Schedule of Employer Contributions-Single Employer Plans Last Ten Fiscal Years .................. 129 Schedule of Proportionate Share of Net Pension Liability in VRS Pension Plan Last Ten Fiscal Years .................................................................................................................... 130 Schedule of Contributions -VRS Pension Plan Last Ten Fiscal Years ......................................... 130 Schedule of Employer Contributions - OPEB Last Ten Fiscal Years........................................... 131 Schedule of Funding Progress - OPEB Last Ten Fiscal Years ..................................................... 131 Notes to Required Supplementary Information............................................................................ 133

Other Supplementary Information ...................................................................................................... 137

Exhibit Governmental Funds

B

B-1a B-1b B-1c B-1d B-1e C C-1

Budgetary Comparison Schedule Detail ? General Fund (Budget Basis) .................. 138 Budgetary Comparison Schedules ? General Fund Group (Budget Basis): Consolidated Community Funding Pool Fund............................................................ 141 Contributory Fund ...................................................................................................... 142 Northern Virginia Regional Identification System...................................................... 143 Information Technology Fund..................................................................................... 144 Revenue Stabilization Fund (Budget Basis) ............................................................... 145 Combining Balance Sheet ? Nonmajor Governmental Funds .................................... 148 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ? Nonmajor Governmental Funds ...................................................... 149

D D-1

d-2a D-2b d-2c d-2d d-2e d-2f d-2g d-2h d-2i d-2j d-2k d-2l

Special Revenue Funds

Combining Balance Sheet ? Special Revenue Funds ................................................. 154 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ? Special Revenue Funds............................................................................. 160 Budgetary Comparison Schedules ? Special Revenue Funds (Budget Basis): County Transit Systems Fund ..................................................................................... 165 Dulles Rail Phase I Transportation Improvement District Fund................................. 166 Dulles Rail Phase II Transportation Improvement District Fund ............................... 167 County and Regional Transportation Projects ............................................................ 168 Tysons Service District Fund ...................................................................................... 169 Metrorail Parking System Pledged Revenue .............................................................. 170 Federal/State Grant Fund ............................................................................................ 171 Cable Communications Fund...................................................................................... 172 Fairfax-Falls Church Community Services Board Fund............................................. 173 Reston Community Center Fund................................................................................. 174 McLean Community Center Fund .............................................................................. 175 Burgundy Village Community Center Fund ............................................................... 176

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County of fairfax, Virginia ComprehensiVe annual finanCial report

Table of ConTenTs

Exhibit

pAge

d-2m d-2n d-2o d-2p d-2q d-2r d-2s d-2t d-2u d-2v d-2w

E-911 Fund.................................................................................................................. 177 Integrated Pest Management Program Fund............................................................... 178 Stormwater Services Fund .......................................................................................... 179 Leaf Collection Fund .................................................................................................. 180 Refuse Collection and Recycling Operations Fund .................................................... 181 Refuse Disposal Fund ................................................................................................. 182 Energy Resource Recovery Facility Fund .................................................................. 183 I-95 Refuse Disposal Fund.......................................................................................... 184 Community Development Block Grant Fund ............................................................. 185 Housing Trust Fund..................................................................................................... 186 HOME Investment Partnership Grant Fund................................................................ 187

Debt Service Funds

E

Combining Balance Sheet ? Debt Service Funds ....................................................... 190

E-1 Combining Statement of Revenues, Expenditures, and Changes in

Fund Balances ? Debt Service Funds......................................................................... 191

e-2 Budgetary Comparison Schedule ? Debt Service Fund (Budget Basis)..................... 192

Capital Projects Funds

F

Combining Balance Sheet ? Capital Projects Funds................................................... 196

F-1 Combining Statement of Revenues, Expenditures, and Changes in Fund

Balances ? Capital Projects Funds .............................................................................. 200

Internal Service Funds

G

Combining Statement of Net Position ? Internal Service Funds ................................ 206

G-1 Combining Statement of Revenues, Expenses, and Changes in

Net Position ? Internal Service Funds......................................................................... 208

G-2 Combining Statement of Cash Flows ? Internal Service Funds ................................. 210

Fiduciary Funds

H

Combining Statement of Plan Net Position ? Trust Funds ......................................... 214

H-1 Combining Statement of Changes in Plan Net Position ? Trust Funds ...................... 216

H-2 Combining Statement of Fiduciary Assets and Liabilities ? Agency Funds............... 218

H-3 Combining Statement of Changes in Assets and Liabilities ? Agency Funds ............ 220

Component Units

Fairfax County Public Schools:

I

Balance Sheet with Reconciliation ? Governmental Funds........................................ 224

I-1

Statement of Revenues, Expenditures, and Changes in Fund Balances with

Reconciliation ? Governmental Funds........................................................................ 226

I-2

Budgetary Comparison Schedule ? General Fund (Budget Basis) ............................. 229

Budgetary Comparison Schedules ? Special Revenue Funds (Budget Basis):

i-3a Food and Nutrition Services Fund .............................................................................. 230

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Exhibit

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i-3b i-3c I-4 I-5

I-6 I-7 I-8 I-9

J J-1 J-2

K K-1

k-2a k-2b

L L-1

L-2

Grants and Self-Supporting Programs Fund ............................................................... 231 Adult and Community Education Fund ...................................................................... 232 Combining Statement of Net Position ? Internal Service Funds ................................ 233 Combining Statement of Revenues, Expenses, and Changes in Net Position ? Internal Service Funds ................................................................................................ 234 Combining Statement of Cash Flows ? Internal Service Funds ................................. 235 Statement of Fiduciary Net Position ........................................................................... 236 Statement of Changes in Plan Net Position ? Trust Funds ......................................... 237 Statement of Changes in Assets and Liabilities ? Agency Fund................................. 238

Fairfax County Redevelopment and Housing Authority:

Statement of Net Position ........................................................................................... 240 Statement of Revenues, Expenses, and Changes in Net Position ............................... 241 Statement of Cash Flows............................................................................................. 242

Fairfax County Park Authority:

Balance Sheet with Reconciliation ............................................................................. 244 Statement of Revenues, Expenditures, and Changes in Fund Balances with Reconciliation ............................................................................................................. 246 Budgetary Comparison Schedules (Budget Basis): General Fund (Financed by County General Fund).................................................... 249 Park Revenue Fund ..................................................................................................... 250

Fairfax County Economic Development Authority:

Balance Sheet with Reconciliation ............................................................................. 252 Statement of Revenues, Expenditures, and Changes in Fund Balance with Reconciliation ............................................................................................................. 253 Budgetary Comparison Schedule ? General Fund (Financed by County General Fund) (Budget Basis)..................................................................................... 254

stAtistiCAl seCtion (unaudited)

Table

Financial Trends Information

1.1 Net Position by Component, Last Ten Fiscal Years .................................................... 256 1.2 Changes in Net Position, Last Ten Fiscal Years.......................................................... 258 1.3 Fund Balances, Governmental Funds, Last Ten Fiscal Years ..................................... 262 1.4 Changes in Fund Balances, Governmental Funds, Last Ten Fiscal Years .................. 264

Revenue Capacity Information

2.1 Assessed Value and Actual Value of Taxable Real Property, Last Ten Fiscal Years................................................................................................... 266

2.2 Direct and Overlapping Real Property Tax Rates, Last Ten Fiscal Years................... 267 2.3 Principal Real Property Taxpayers, Current Year and Nine Years Ago ...................... 268 2.4 Real Property Tax Levies and Collections, Last Ten Fiscal Years.............................. 268

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County of fairfax, Virginia ComprehensiVe annual finanCial report

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