CITY OF PAWNEE, OKLAHOMA

CITY OF PAWNEE, OKLAHOMA ANNUAL FINANCIAL REPORT As of and for the Year Ended June 30, 2019

TABLE OF CONTENTS

Independent Auditor's Report on Financial Statements...................................................

4-5

The Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position (Modified Cash Basis)................................................

8

Statement of Activities (Modified Cash Basis).....................................................

9

Governmental Funds Financial Statements:

Balance Sheet (Modified Cash Basis)...............................................................

10

Statement of Revenues, Expenditures and Change in Fund Balances (Modified Cash

Basis)......... ..........................................................................................

11

Reconciliation of Governmental Funds and Government-Wide Financial Statements..... 12

Proprietary Fund Financial Statements:

Statement of Net Position (Modified Cash Basis) ...................................................

13

Statement of Revenues, Expenses and Change in Net Position (Modified Cash Basis)...... 14

Statement of Cash Flows (Modified Cash Basis)....................................................

15

Footnotes to the Basic Financial Statements ...........................................................

16-32

Other Information:

Budgetary Comparison Schedule (Modified Cash Basis) ? General Fund.............................

34

Footnotes to Budgetary Comparison Schedule........................................................................

34

Combining Balance Sheet ? Non-major Governmental Funds (Modified Cash Basis).......

35

Combining Statement of Revenues, Expenditures and Changes in

Fund Balances ? Non-major Governmental Funds (Modified Cash Basis)............................. 36

Combining Schedule of Net Position ? PPWA Accounts ? (Modified Cash Basis).......

37

Combining Schedule of Revenues, Expenses and Changes in Net Position ? PPWA Accounts -

(Modified Cash Basis).............................

38

Combining Schedule of Cash Flows ? PPWA Accounts - (Modified Cash Basis)............................. 39

Internal Control and Compliance over Financial Reporting

Independent Auditor's Report on Internal Control and Compliance.................................... 42-45

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CITY OF PAWNEE, OKLAHOMA ANNUAL FINANCIAL REPORT As of and for the Year Ended June 30, 2019

City Council

Brad Sewell Blade McLendon Gwendolyn Williams Mark Brumfield Levi Edwards Peggy Coleman Emily Elliott Alice Cottle James Novotny

Mayor Ward 1 Ward 1 Ward 2 Ward 2 Ward 3 Ward 3 Ward 4 Ward 4

Management

Tammy Todd Wesley Clymer Joyce McClellan Roy Nichols Travis Burch Steve Ready

City Clerk Chief of Police Municipal Court Clerk Fire Chief Electric Superintendent Water/Sewer Superintendent

City Hall

510 Illinois Pawnee, OK 74058

918-762-2658

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CITY OF PAWNEE, OKLAHOMA ANNUAL FINANCIAL REPORT As of and for the Year Ended June 30, 2019

INDEPENDENT AUDITOR'S REPORT

3

Elfrink and Associates, PLLC

Certified Public Accountants

INDEPENDENT AUDITOR'S REPORT

Honorable Mayor and Members of the City Council City of Pawnee, Oklahoma

We have audited the accompanying modified cash basis financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Pawnee, Oklahoma, as of and for the year ended June 30, 2019, and the related notes to the financial statements, which collectively comprise the City of Pawnee, Oklahoma's basic financial statements 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 modified cash basis of accounting described in Note 1C; this includes determining that the modified cash basis of accounting is an acceptable basis for the preparation of the financial statements in the circumstances. 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 error or fraud.

Auditors' Responsibility

Our responsibility is to express opinions 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.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective modified cash basis financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Pawnee, Oklahoma, as of June 30, 2019, and the respective changes in the modified cash basis financial position, thereof for the year then ended in accordance with the basis of accounting as described in Note 1C.

Basis of Accounting

We draw attention to Note 1C of the financial statements, which describes the basis of accounting. The financial statements are prepared on the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to that matter.

7712 S Yale Avenue, Suite 215 Tulsa, OK, 74136

Members of the AICPA and OSCPA

918-361-2133 anne.elfrink@ Government and Nonprofit Auditing 4

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