Comprehensive Annual Financial Report - Worthington Libraries

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Comprehensive Annual Financial Report

FOR THE YEAR ENDED DECEMBER 31, 2018

FR ANKLIN COUNT Y, OHIO

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WORTHINGTON LIBRARIES

WORTHINGTON, OHIO

Comprehensive Annual Financial Report

For the Year Ended December 31, 2018

Issued by: Worthington Libraries Finance Department

Chuck Gibson Director/Deputy Fiscal Officer

Sam Kraly Chief Fiscal Officer

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WORTHINGTON LIBRARIES WORTHINGTON, OHIO

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2018 TABLE OF CONTENTS

TITLE

PAGE

INTRODUCTORY SECTION

Title Page ................................................................................................................................ i

Table of Contents ................................................................................................................... ii

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

GFOA Certificate of Achievement ...................................................................................... xii

List of Principal Officials .................................................................................................... xiii

Organizational Chart ........................................................................................................... xiv

FINANCIAL SECTION

Independent Auditors' Report ................................................................................................ 3

Management's Discussion and Analysis................................................................................ 7

Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position........................................................................................ 15

Statement of Activities ............................................................................................ 16

Fund Financial Statements:

Balance Sheet ? Governmental Funds .................................................................... 17

Reconciliation of Total Governmental Fund Balances to Net Position of Governmental Activities .............................................................................. 18

Statement of Revenues, Expenditures and Changes in Fund Balances ? Governmental Funds ....................................................... 19

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities ? Governmental Funds ............. 20

Statement of Revenues, Expenditures and Changes in Fund Balance ? Budget (Non-GAAP Basis) and Actual ? General Fund ................. 21

Notes to the Basic Financial Statements........................................................................ 23

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WORTHINGTON LIBRARIES WORTHINGTON, OHIO

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2018 TABLE OF CONTENTS

TITLE

PAGE

Required Supplementary Information:

Schedule of Library's Proportionate Share of the Net Pension (Asset)/Liability ... 57

Schedule of Library Pension Contributions ............................................................ 58

Schedule of Library's Proportionate Share of the Net OPEB Liability .................. 59

Schedule of Library OPEB Contributions............................................................... 60

Notes to Required Supplementary Information..........................................61

Combining Financial Statements:

Combining Financial Statements ? Nonmajor Governmental Funds:

Nonmajor Fund Descriptions .................................................................................. 65

Combining Balance Sheet ? Nonmajor Governmental Funds ................................ 66

Combining Statement of Revenues, Expenditures and Changes in Fund Balances ? Nonmajor Governmental Funds ......................... 67

Individual Schedules of Revenues, Expenditures and Changes in Fund Balance Budget (Non-GAAP Basis) and Actual ? Nonmajor Funds:

Major Funds:

Building Fund ......................................................................................................... 68

Nonmajor Funds:

Friend's Foundation Fund ....................................................................................... 69

Termination Benefits Fund ..................................................................................... 70

Technology Fund .................................................................................................... 71

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