GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32

GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32

Comprehensive Annual Financial Report

Fiscal Year Ended June 30, 2017

P. O. Box 6870 San Luis, Arizona 85349

GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32 SAN LUIS, ARIZONA

COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2017

Issued by: Business and Finance Department

GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32

TABLE OF CONTENTS

INTRODUCTORY SECTION Letter of Transmittal ASBO Certificate of Excellence GFOA Certificate of Achievement Organizational Chart List of Principal Officials

FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT MANAGEMENT'S DISCUSSION AND ANALYSIS (MD&A) BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements: Statement of Net Position Statement of Activities

Fund Financial Statements: Balance Sheet ? Governmental Funds Reconciliation of the Balance Sheet ? Governmental Funds to the Statement of Net Position Statement of Revenues, Expenditures and Changes in Fund Balances ? Governmental Funds Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances ? Governmental Funds to the Statement of Activities

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GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32

TABLE OF CONTENTS

FINANCIAL SECTION BASIC FINANCIAL STATEMENTS

Statement of Net Position ? Proprietary Fund Statement of Revenues, Expenses and Changes in Fund Net Position ? Proprietary Fund Statement of Cash Flows ? Proprietary Fund Statement of Assets and Liabilities ? Fiduciary Funds Notes to Financial Statements REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues Expenditures and Changes in Fund Balances ? Budget and Actual: General Fund Food Service Fund Schedule of Proportionate Share of the Net Pension Liability Schedule of Contributions Schedule of Funding Progress Notes to Required Supplementary Information COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES Governmental Funds: Combining Balance Sheet ? All Non-Major Governmental Funds ?

By Fund Type Combining Statement of Revenues, Expenditures and Changes in

Fund Balances ? All Non-Major Governmental Funds ? By Fund Type

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GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32

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FINANCIAL SECTION COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND

SCHEDULES Special Revenue Funds:

Combining Balance Sheet Combining Statement of Revenues, Expenditures and

Changes in Fund Balances Combining Schedule of Revenues, Expenditures and

Changes in Fund Balances ? Budget and Actual Debt Service Fund:

Schedule of Revenues, Expenditures and Changes in Fund Balance ? Budget and Actual

Capital Projects Funds: Combining Balance Sheet Combining Statement of Revenues, Expenditures and Changes in Fund Balances Combining Schedule of Revenues, Expenditures and Changes in Fund Balances ? Budget and Actual

Agency Fund: Statement of Changes in Assets and Liabilities

STATISTICAL SECTION Financial Trends: Net Position by Component Expenses, Program Revenues, and Net (Expense)/Revenue General Revenues and Total Changes in Net Position Fund Balances ? Governmental Funds

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GADSDEN ELEMENTARY SCHOOL DISTRICT NO. 32

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STATISTICAL SECTION Governmental Funds Revenues Governmental Funds Expenditures and Debt Service Ratio Other Financing Sources and Uses and Net Changes in Fund Balances ? Governmental Funds

Revenue Capacity: Net Limited Assessed Value and Full Cash Value of Taxable Property by Class Net Full Cash Assessed Value of Taxable Property by Class Property Tax Assessment Ratios Direct and Overlapping Property Tax Rates Principal Property Taxpayers Property Tax Levies and Collections

Debt Capacity: Outstanding Debt by Type Direct and Overlapping Governmental Activities Debt Direct and Overlapping General Bonded Debt Ratios Legal Debt Margin Information

Demographic and Economic Information: County-Wide Demographic and Economic Statistics Principal Employers

Operating Information: Full-Time Equivalent District Employees by Type Operating Statistics Capital Assets Information

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