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  • School District of Marlboro Township

    Marlboro Township Board of Education Marlboro, New Jersey

    Comprehensive Annual Fiscal Report For the Fiscal Year Ended June 30, 2017

  • Marlboro Township School District

    Marlboro, New Jersey

    Comprehensive Annual Financial Report

    For the Fiscal Year Ended June 30, 2017

    Prepared by Marlboro Township School District Business Office

    Mrs. Cindy S. Barr-Rague School Business Administrator/Board Secretary

  • COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE MARLBORO TOWNSHIP SCHOOL DISTRICT

    FOR THE YEAR ENDED JUNE 30, 2017

    PAGE

    Letter of Transmittal 1 Organizational Chart 19 Roster of Officials 21 Consultants, Independent Auditors, and Advisors 23 Certificate of Excellence 25

    Independent Auditor's Report 29

    Management's Discussion & Analysis 33

    BASIC FINANCIAL STATEMENTS

    A. Government-Wide Financial Statements: A-1 Statement of Net Position 49 A-2 Statement of Activities 50

    B. Fund Financial Statements: Governmental Funds:

    B-1 Balance Sheet 55 B-2 Statement of Revenues, Expenditures & Changes in Fund Balance 56 B-3 Reconciliation of the Statement of Revenues, Expenditures & Changes in Fund

    Balance of Governmental Funds to the Statement of Activities 58 Proprietary Funds:

    B-4 Statement of Net Position 61 B-5 Statement of Revenues, Expenditures & Changes in Fund Net Position 62 B-6 Statement of Cash Flows 63

    Fiduciary Funds: B-7 Statement of Fiduciary Net Position 67 B-8 Statement of Changes in Fiduciary Net Position 68

    Notes to Financial Statements 71

    C. Budgetary Comparison Schedules: C-1 Budgetary Comparison Schedule - General Fund 108 C-2 Budgetary Comparison Schedule - Special Revenue Fund 122

    Notes to the Required Supplementary Information: C-3 Budget-to-GAAP Reconciliation 127

    INTRODUCTORY SECTION

    FINANCIAL SECTION

    TABLE OF CONTENTS

    REQUIRED SUPPLEMENTARY INFORMATION - PART I

    REQUIRED SUPPLEMENTARY INFORMATION - PART II

  • COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE MARLBORO TOWNSHIP SCHOOL DISTRICT

    FOR THE YEAR ENDED JUNE 30, 2017

    PAGE

    L. Schedules Related to Accounting and Reporting for Pensions (GASB 68): L-1 Schedule of the District's Proportionate Share of the Net Pension Liability - PERS 131 L-2 Schedule of the District Contributions - PERS 132 L-3 Schedule of the District's Proportionate Share of the Net Pension Liability - TPAF 133 L-4 Schedule of School District Contributions - TPAF 134

    Notes to the Required Supplementary Information - Part III 137

    E. Special Revenue Fund: E-1 Combining Schedule of Revenues & Expenditures - Special Revenue Fund -

    Budgetary Basis 143

    H. Fiduciary Funds: H-1 Combining Statement of Fiduciary Net Position 149 H-2 Combining Statement of Changes in Fiduciary Net Position 150 H-3 Combining Statement of Changes in Agency Fund Liabilities 151 H-4 Student Activity Agency Fund Schedule of Cash Receipts & Disbursements 152 H-5 Payroll Agency Fund Schedule of Cash Receipts & Disbursements 153

    I. Long-Term Debt: I-1 Schedule of Serial Bonds 156 I-2 Schedule of Obligations Under Capital Leases 158 I-3 Debt Service Fund Budgetary Comparison Schedule 159

    Financial Trends: J-1 Net Position by Component 165 J-2 Changes in Net Position 166 J-3 Fund Balances - Governmental Funds 168 J-4 Changes in Fund Balance - Governmental Funds 169 J-5 Other Local Revenue by Source - General Fund 170

    Revenue Capacity: J-6 Assessed Value & Estimated Actual Value of Taxable Property 173 J-7 Direct & Overlapping Property Tax Rates 174 J-8 Principal Property Taxpayers 175 J-9 Property Tax Levies & Collections 176

    Debt Capacity: J-10 Ratios of Outstanding Debt by Type 179 J-11 Ratios of General Bonded Debt Outstanding 180 J-12 Direct & Overlapping Governmental Activities Debt 181 J-13 Legal Debt Margin Information 182

    STATISTICAL SECTION (unaudited)

    TABLE OF CONTENTS (continued)

    REQUIRED SUPPLEMENTARY INFORMATION - PART III

    OTHER SUPPLEMENTARY INFORMATION

  • COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE MARLBORO TOWNSHIP SCHOOL DISTRICT

    FOR THE YEAR ENDED JUNE 30, 2017

    PAGE Demographic & Economic Information:

    J-14 Demographic & Economic Statistics 185 J-15 Principal Employers 186

    Operating Information: J-16 Full-Time Equivalent District Employees by Function/Program 189 J-17 Operating Statistics 190 J-18 School Building Information 191 J-19 Schedule of Required Maintenance 192 J-20 Insurance Schedule 193

    K-1 Independent 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 197

    K-2 Independent Auditor's Report on Compliance for Each Major Program and Report on Internal Control Over Compliance Required by the Uniform Guidance and New Jersey OMB Circular 15-08 199

    K-3 Schedule of Expenditures of Federal Awards, Schedule A 202 K-4 Schedule of Expenditures of State Financial Assistance, Schedule B 204 K-5 Notes to Schedules of Awards and Financial Assistance 207 K-6 Schedule of Findings & Questioned Costs - Section I - Summary of Auditor's Results 209 K-7 Schedule of Findings & Questioned Costs:

    Section II - Financial Statement Findings 211 Section III - Federal Awards & State Financial Assistance Findings & Questioned Costs 211

    K-8 Summary Schedule of Prior-Year Audit Findings and Questioned Costs as Prepared by Management 212

    SINGLE AUDIT SECTION

    TABLE OF CONTENTS (continued)

  • 1

  • SCHOOL DISTRICT ORGANIZATION The Marlboro Township School District is an independent reporting entity within the criteria adopted by the GASB as established by Statement No. 14 as amended by GASB Statement No. 39. The Marlboro Township Board of Education and its eight schools constitute the district's reporting entity. The district continues to maintain a high quality of education and is one of the largest K-8 districts in New Jersey. The district provides a full range of programs and services appropriate to grades Pre-K through 8. These include regular education, programs for the very able students (gifted and talented), as well as those for students with disabilities both in and out of district. An early learning center, five elementary schools and two middle schools comprise the district’s instructional facilities. Supervising district-wide goals is a district superintendent, a school business administrator/board secretary, a director of human resources, a director of curriculum and instruction, four district-wide curriculum supervisors, a director of special services, and a supervisor of special services. The David C. Abbott Early Learning Center has its own principal. Each of the five elementary schools has a principal and vice principal. The Marlboro Middle School and the Marlboro Memorial Middle School each have one principal and two vice principals. The Board of Education, comprised of nine members, each elected to three-year terms, meets on the fourth Tuesday of each month for the regular monthly meeting and at one or two other times per month for workshop meetings. During its meetings and workshops the board determines district goals and priorities and conducts other business. Board meetings are open to the public and begin at 7:00 PM. Effective January 17, 2012, all public portions of the regular and workshop meetings of the Marlboro Township Board of Education are taped and posted on the district’s website. This has enabled Board meetings to be more accessible to those who cannot be physically present due to family, business or personal reasons, but who nevertheless wish to watch the Board deliberations and find out what is happening in the Marlboro Township Public School District (K-8).

    PTAs/PTOs are highly active in the district and provide community support for a variety of programs and activities for the children. To maintain effective communications, the district uses several options to insure a consistent flow of information to our stakeholders. During the budget review process, information about the budget is e- mailed as a special newsletter to all parents as well as to residents who have signed up to receive it and is posted on the district website. Additional communication tools utilized by the district include a district website that is updated regularly with important information for parents, such as school closures, delayed openings, medical/health alerts, new curriculum initiatives, new board projects, and more. The district also communicates with parents via School Messenger, a system that provides both phone and e-mail contact options. The ability to contact the entire parent population within 20 minutes about changes in the school day, i.e., early closure, or to be able to update them in an emergency situation, is a vital component in insuring that our communication efforts are timely, accurate, and effective. EDUCATIONAL PROGRAM Each district school follows district-wide goals and educational approaches to the teaching of children, while maintaining a unique personality. All curricula in our district have been aligned to the New Jersey Core Curriculum Content Standards and Common Core State Standards. In May 2017, the New Jersey Department of Education released its Taxpayers’ Guide to Education Spending