los angeles unified school district los angeles, california audited annual financial report fiscal year

243 Pages·2017·10.14 MB·English

LOS ANGELES UNIFIED SCHOOL DISTRICT
UNIFIED S
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Audited Annual N D
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FINANCIAL L T •
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ARD OF EDUC
REPORT
For Fiscal Year Ended June 30, 2017
2016-2017
Los Angeles, CA

LOS ANGELES UNIFIED SCHOOL DISTRICT
LOS ANGELES, CALIFORNIA
AUDITED ANNUAL
FINANCIAL REPORT
FISCAL YEAR ENDED JUNE 30, 2017
MS. MICHELLE KING, ED.D.
SUPERINTENDENT OF SCHOOLS
MR. SCOTT S. PRICE, PH.D.
CHIEF FINANCIAL OFFICER
(EFFECTIVE JULY 3, 2017)
MS. MEGAN K. REILLY
CHIEF FINANCIAL OFFICER
(DECEMBER 1, 2007 –MARCH 23, 2017)
MR. V. LUIS BUENDIA
CONTROLLER
PREPARED BY
ACCOUNTING AND DISBURSEMENTS DIVISION
333 S. BEAUDRY AVENUE
LOS ANGELES, CALIFORNIA 90017

LOS ANGELES UNIFIED SCHOOL DISTRICT
Audited Annual Financial Report
Year Ended June 30, 2017
Table of Contents
I N T R O D U C T O R Y S E C T I O N Page
Letter of Transmittal ………………………………………………………………………………………………….………………i…
Board of Education and Principal School District Officials ………………………………………………………………………..v
Organizational Structure ……………………………………………………………………………………………………………v…i …………….
F I N A N C I A L S E C T I O N
Independent Auditor's Report …………………………………………………………………………………………………………1 ……………………………..
Management’s Discussion and Analysis ………………………………………………………………………………………………4 …………….
B a s i c F i n a n c i a l S t a t e m e n t s:
G o v e r n m e n t - w i d e F i n a n c i al S t a t e m e n t s:
Statement of Net Position ………………………………………………………………………………………………………14…………
Statement of Activities …………………………………………………………………………………………………………15……………….
F u n d F i n a n c i a l S t a t e m e n t s:
Balance Sheet – Governmental Funds ………………………………………………………………………………………..16
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position …………………………………17………………………………………………….
Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ………………………………18………………………….
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and
Changes in Fund Balances to the Statement of Activities …………………………………………………………………1…9………………………………………………
Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual –
General Fund ……………………..…………………………………………………………………………………………2.0
Statement of Net Position – Proprietary Funds – Governmental Activities – Internal Service Funds ………………………21
Statement of Revenues, Expenses, and Changes in Fund Net Position – Proprietary Funds –
Governmental Activities – Internal Service Funds …………………………………………………………………………2…2 …………………..
Statement of Cash Flows – Proprietary Funds – Governmental Activities – Internal Service Funds ……………………….…23….
Statement of Net Position – Fiduciary Funds …………………………………………………………………………………2…4 ……………
Statement of Changes in Net Position – Fiduciary Funds ……………………………………………………………………2…5…………………………
N o t e s t o B a s i c F i n a n c i a l S t a t e m e n t s ………………………………………………………………………2…6 ……………………………………….
R E Q U I R E D S U P P L E M E N T A R Y I N F O R M A T I O N
Schedule of Funding Progress for Postemployment Healthcare Benefits ……………………………………………………7…5…………………………………………
Schedule of Changes in the Net Pension Liability and Related Ratios – Agent Multiple-Employer
Defined Benefit Pension Plan – California Public Employees' Retirement System (Safety Plan) …………………………7…6 ……………………………………………………………………
Schedule of Contributions – Agent Multiple-Employer Defined Benefit Pension Plan –
California Public Employees' Retirement System (Safety Plan) ……………………………………………………………7…7 …………………………………
Schedule of District Proportionate Share of the Net Pension Liability and Related Ratios
and District Contributions – California Public Employees' Retirement System (Miscellaneous Plan) ……………………7…8…………………………………………………………………………
Schedule of District Proportionate Share of the Net Pension Liability and Related Ratios
and District Contributions – California State Teachers' Retirement System…………………………………………………79………………………………………………
Los Angeles Unified School District
LOS ANGELES UNIFIED SCHOOL DISTRICT
Audited Annual Financial Report
Year Ended June 30, 2017
Table of Contents
C o m b i n i n g a n d I n d i v i d u a l F u n d S c h e d u l e s a n d S t a t e m e n t s : Page
District Bonds Fund – Schedule of Revenues, Expenditures, and Changes in Fund Balances –
Budget and Actual………………………………………………………………………………………………………..80
Bond Interest and Redemption Fund – Schedule of Revenues, Expenditures, and Changes in
Fund Balances – Budget and Actual………………………………………………………………………………………81………………..
N o n m a j o r G o v e r n m e n t a l F u n d s :
Special Revenue Funds/Debt Service Funds/Capital Projects Funds:
Nonmajor Governmental Funds – Combining Balance Sheet ………………………………………………………………84…………………………………………………………
Nonmajor Governmental Funds – Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances …………………………...……...……………………..………………………………… 88
Special Revenue Funds – Combining Schedule of Revenues, Expenditures, and
Changes in Fund Balances – Budget and Actual …………………………...……...……………………..………………9…2 ………………
Debt Service Funds – Combining Schedule of Revenues, Expenditures, and
Changes in Fund Balances – Budget and Actual …………………………...……...……………………..………………9…6 ………………
Capital Projects Funds – Combining Schedule of Revenues, Expenditures, and
Changes in Fund Balances – Budget and Actual …………………………...……...……………………..………………9…8 ………………
Internal Service Funds:
Internal Service Funds – Combining Statement of Net Position ...…………………………………………………………10…5…………
Internal Service Funds – Combining Statement of Revenues, Expenses, and
Changes in Fund Net Position ……………………………………………………………………………………………10…6 …..
Internal Service Funds – Combining Statement of Cash Flows ……………..……………………………………………1…07………………
Fiduciary Funds:
Fiduciary Funds – Agency Funds – Combining Statement of Changes in Assets and Liabilities ………….………………10…9…………………………………..…………
S U P P L E M E N T A R Y I N F O R M A T I O N
Assessed Value of Taxable Property – Last Ten Fiscal Years …………………………………………………………………1…11…………………………………………………….
Largest Local Secured Taxpayers – Current Year and Nine Years Ago…………………………………………………………11…2 ………………………………..
Property Tax Levies and Collections – Last Ten Fiscal Years …………………………………………………………………1…13………………………………………………….
Average Daily Attendance/Hours of Attendance – Annual Report – Last Ten Fiscal Years ……………………………………11…4 ………………………………………………………………….
Organization Structure ……….……………………………………………………………………....…………………………1…17……………………………
Schedule of Average Daily Attendance/Hours of Attendance ……….………………………..…………………………………11…8 ……………………
Schedule of Average Daily Attendance – Affiliated Charter Schools ……….………………………..…………………………12…0 ……………………………
Schedule of Instructional Time Offered ....................................................................................................................................1..2..4....
Schedule of Financial Trends and Analysis ...............................................................................................................................1..2..5........................
Schedule to Reconcile the Annual Financial Budget Report (SACS) with Audited Financial Statements ……………………1…26….
Schedule of Charter Schools ……………………………..……….……………………………………………………………1…27………….
Notes to Supplementary Information ...........................................................................................................……………………13…2…………
Schedule of Expenditures of Federal Awards ......................................................................................................................... 133
Notes to Schedule of Expenditures of Federal Awards ….........................................................................................................1..3.…7………………………………
Audited Annual Financial Report
LOS ANGELES UNIFIED SCHOOL DISTRICT
Audited Annual Financial Report
Year Ended June 30, 2017
Table of Contents
O T H E R I N D E P E N D E N T A U D I T O R R E P O R T S Page
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 ……………1…39………..………….
Report on Compliance for Each Major Federal Program and on Internal Control over Compliance ………………………..…14…1………………………………………………….……………………………………………………….….
Independent Auditor's Report on State Compliance ..................................................................................................................1..4..4.……………
Schedule of Findings and Questioned Costs ...........................................................................................................……………1.48
Status of Prior Year Findings and Recommendations ..........................................................................................……………197
Independent Auditor's Management Letter ........................................................………………………………………...………20…8 ………
Los Angeles Unified School District

INTRODUCTORY
SECTION