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MONTGOMERY COUNTY TENNESSEE - TN Comptroller ... annual financial report. montgomery county, tennessee. f. or the . y. ear . e. nded . j. une . 30, 2018 . d. ivision of local government

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  • ANNUAL FINANCIAL REPORT

    MONTGOMERY COUNTY, TENNESSEE FOR THE YEAR ENDED JUNE 30, 2018

    DIVISION OF LOCAL GOVERNMENT AUDIT

  • ANNUAL FINANCIAL REPORT

    MONTGOMERY COUNTY, TENNESSEE

    FOR THE YEAR ENDED JUNE 30, 2018

    COMPTROLLER OF THE TREASURY JUSTIN P. WILSON

    DIVISION OF LOCAL GOVERNMENT AUDIT JAMES R. ARNETTE

    Director

    JEFF BAILEY, CPA, CGFM, CFE Audit Manager CARRIE SABIN TYLER ENSMINGER KATIE ARMSTRONG, CPA, CGFM, CFE BETHANY GRAVES Senior Auditor State Auditors

    This financial report is available at www.comptroller.tn.gov

    2

  • Exhibit Page(s)

    Summary of Audit Findings 6

    INTRODUCTORY SECTION 7

    Montgomery County Officials 8

    FINANCIAL SECTION 9

    Independent Auditor's Report 10-13 BASIC FINANCIAL STATEMENTS: 14

    Government-wide Financial Statements: Statement of Net Position A 15-17 Statement of Activities B 18-19

    Fund Financial Statements: Governmental Funds:

    Balance Sheet C-1 20-22 Reconciliation of the Balance Sheet of Governmental Funds

    to the Statement of Net Position C-2 23 Statement of Revenues, Expenditures, and Changes in

    Fund Balances C-3 24-25 Reconciliation of the Statement of Revenues, Expenditures,

    and Changes in Fund Balances of Governmental Funds to the Statement of Activities C-4 26

    Statement of Revenues, Expenditures, and Changes in Fund Balance – Actual (Budgetary Basis) and Budget:

    General Fund C-5 27-30 Proprietary Funds:

    Statement of Net Position D-1 31 Statement of Revenues, Expenses, and Changes in Net Position D-2 32 Statement of Cash Flows D-3 33

    Fiduciary Funds: Statement of Fiduciary Assets and Liabilities E 34

    Index and Notes to the Financial Statements 35-109 REQUIRED SUPPLEMENTARY INFORMATION: 110

    Schedule of Changes in Net Pension Liability (Asset) and Related Ratios Based on Participation in the Public Employee Legacy Pension Plan of TCRS – Primary Government F-1 111

    Schedule of Changes in Net Pension Liability (Asset) and Related Ratios Based on Participation in the Public Employee Pension Plan of TCRS – Primary Government F-2 112

    Schedule of Contributions Based on Participation in the Public Employee Legacy Pension Plan of TCRS – Primary Government F-3 113

    Schedule of Contributions Based on Participation in the Public Employee Pension Plan of TCRS – Primary Government F-4 114

    Schedule of Contributions Based on Participation in the Public Employee POST Certified Legacy Pension Plan of TCRS – Primary Government F-5 115

    Schedule of Contributions Based on Participation in the Public Employee POST Certified Pension Plan of TCRS – Primary Government F-6 116

    Schedule of Contributions Based on Participation in the Teacher Retirement Plan of TCRS – Discretely Presented Clarksville-Montgomery County School System F-7 117

    TABLE OF CONTENTS MONTGOMERY COUNTY, TENNESSEE

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  • Exhibit Page(s)

    Schedule of Contributions Based on Participation in the Teacher Legacy Pension Plan of TCRS – Discretely Presented Clarksville- Montgomery County School System F-8 118

    Schedule of Proportionate Share of the Net Pension Asset in the Teacher Pension Plan of TCRS – Discretely Presented Clarksville-Montgomery County School System F-9 119

    Schedule of Proportionate Share of the Net Pension Asset in the Teacher Legacy Pension Plan of TCRS – Discretely Presented Clarksville-Montgomery County School System F-10 120

    Schedule of Changes in the Total OPEB Liability and Related Ratios - Commercial Plan - Primary Government F-11 121

    Schedule of Changes in the Total OPEB Liability and Related Ratios - Commercial Plan - Discretely Presented Clarksville- Montgomery County School System F-12 122

    Notes to the Required Supplementary Information 123-124 COMBINING AND INDIVIDUAL FUND FINANCIAL

    STATEMENTS AND SCHEDULES: 125 Nonmajor Governmental Funds: 126

    Combining Balance Sheet G-1 127-128 Combining Statement of Revenues, Expenditures, and Changes

    in Fund Balances G-2 129 Schedules of Revenues, Expenditures, and Changes in Fund

    Balances – Actual (Budgetary Basis) and Budget: Drug Control Fund G-3 130 Highway/Public Works Fund G-4 131

    Major Governmental Fund: 132 Schedule of Revenues, Expenditures, and Changes in Fund

    Balance – Actual and Budget: General Debt Service Fund H 133

    Proprietary Funds: 134 Combining Statement of Net Position I-1 135 Combining Statement of Revenues, Expenses, and Changes in

    Net Position I-2 136 Combining Statement of Cash Flows I-3 137-138

    Fiduciary Funds: 139 Combining Statement of Fiduciary Assets and Liabilities J-1 140 Combining Statement of Changes in Assets and Liabilities –

    All Agency Funds J-2 141-142 Component Unit:

    Discretely Presented Clarksville-Montgomery County School System: 143 Statement of Activities K-1 144 Balance Sheet – Governmental Funds K-2 145-146 Reconciliation of the Balance Sheet of Governmental Funds

    to the Statement of Net Position K-3 147 Statement of Revenues, Expenditures, and Changes in Fund

    Balances – Governmental Funds K-4 148-149 Reconciliation of the Statement of Revenues, Expenditures,

    and Changes in Fund Balances of Governmental Funds to the Statement of Activities K-5 150

    Combining Balance Sheet – Nonmajor Governmental Funds K-6 151-152 Combining Statement of Revenues, Expenditures, and Changes

    in Fund Balances – Nonmajor Governmental Funds K-7 153

    4

  • Exhibit Page(s)

    Schedules of Revenues, Expenditures, and Changes in Fund Balances – Actual (Budgetary Basis) and Budget:

    General Purpose School Fund K-8 154-155 School Federal Projects Fund K-9 156 Central Cafeteria Fund K-10 157 School Transportation Fund K-11 158 Extended School Program Fund K-12 159

    Miscellaneous Schedules: 160 Schedule of Changes in Long-term Notes, Other Loans, Capital Leases, and Bonds L-1 161 Schedule of Long-term Debt Requirements by Year L-2 162-163 Schedule of Transfers – Primary Government and Discretely

    Presented Clarksville-Montgomery County School System L-3 164 Schedule of Salaries and Official Bonds of Principal Officials –

    Primary Government and Discretely Presented Clarksville- Montgomery County School System L-4 165

    Schedule of Detailed Revenues – All Governmental Fund Types L-5 166-179 Schedule of Detailed Revenues – All Governmental Fund Types –

    Discretely Presented Clarksville-Montgomery County School System L-6 180-187

    Schedule of Detailed Expenditures – All Governmental Fund Types L-7 188-221 Schedule of Detailed Expenditures – All Governmental Fund Types –

    Discretely Presented Clarksville-Montgomery County School System L-8 222-237

    Schedule of Detailed Revenues and Expenses – All Proprietary Funds L-9 238-240 Schedule of Detailed Receipts, Disbursements, and Changes in

    Cash Balances – City Agency Fund L-10 241

    SINGLE AUDIT SECTION 242

    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 243-244

    Auditor's Report on Compliance for Each Major Federal Program; Report on Internal Control Over Compliance; and Report on the Schedule of Expenditures of Federal Awards Required by Uniform Guidance 245-247

    Schedule of Expenditures of Federal Awards and State Grants 248-249 Summary Schedule of Prior-year Findings 250 Schedule of Findings and Questioned Costs Management's Corrective Action Plan Best Practice

    251-253 254-256

    257

    5

  • Summary of Audit Findings Annual Financial Report

    Montgomery County, Tennessee For the Year Ended June 30, 2018

    Scope We have audited the basic financial statements of Montgomery County as of and for the year ended June 30, 2018.

    Results Our report on Montgomery County’s financial statements is unmodified. Our audit resulted in one finding, which we have reviewed with Montgomery County management. The detailed finding and management’s response are included in the Single Audit section of this report.

    Finding The following is a summary of the audit finding: OFFICE OF DIRECTOR OF SCHOOLS ♦ An investigation in the Clarksville-Montgomery County School System disclosed a mis-

    appropriation of $1,750.

    6

  • INTRODUCTORY SECTION

    7

  • Montgomery County Officials June 30, 2018

    Officials

    Jim Durrett, County Mayor Mike Frost, Highway Supervisor Millard House II, Director of Schools Brenda Radford, Trustee Erinne Hester, Assessor of Property Kellie Jackson, County Clerk Cheryl Castle, Circuit, General Sessions, and Juvenile Courts Clerk Michael Dale, Clerk and Master Connie Gunnett, Register of Deeds John Fuson, Sheriff Jeffrey Taylor, Director of Accounts and Budgets Jane Davis, Purchasing Agent

    Board of County Commissioners

    Jim Durrett, County Mayor, Chairman Martha Brockman John Gannon, Sr. Joe Creek Arnold Hodges David Harper Edward Baggett Wallace Redd Joe Weyant Robert Nichols John Genis Tommy Vallejos Robert Gibbs, Jr. Jason Hodges Brandon Butts Monroe Gildersleeve Audrey Tooley Garland Johnson Ronald Sokol Larry Rocconi Charles Keene Jerry Allbert

    Highway Commission

    Mike Frost, Highway Supervisor, Chairman Edgar Ray Groves Orville Lewis

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