comprehensive annual financial report comprehensive annual financial report

270 Pages·2012·13.84 MB·English

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Photo Credit: Gracie Lunceford, Accounting Manager,
Department of Finance, Municipal Accounting Services

“This picture was taken during a field trip with my daughter’s 6th grade class to the Effie Yeaw
Nature Center Pond and River on November 13, 2009. We learned that this site is not only a
beautiful and calm place for us to enjoy, but is amazingly the home to countless varieties of nature’s
smaller life forms.” ~Gracie

Cover Design: Chris Baker, Geographic Information Systems Analyst II
Department of Community Development, Planning and Environmental Review
Julie Valverde, Director of Finance
For The Fiscal Year Ended June 30, 2012
COUNTY OF SACRAMENTO

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2012

Table of Contents

TABLE OF CONTENTS ............................................................................................................................................................................... i

INTRODUCTORY SECTION

Letter of Transmittal ........................................................................................................................................................................ vii

Certificate of Achievement for Excellence in Financial Reporting ................................................................................................ xvi

Organizational Chart ...................................................................................................................................................................... xvii

List of Public Officials.................................................................................................................................................................. xviii

Acknowledgement ......................................................................................................................................................................... xix

FINANCIAL SECTION

Independent Auditors’ Report ............................................................................................................................................................ 1

Management’s Discussion and Analysis (Required Supplementary Information) ............................................................................ 3

Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Assets .......................................................................................................................................................... 20

Statement of Activities ............................................................................................................................................................ 22

Fund Financial Statements:

Balance Sheet – Governmental Funds .................................................................................................................................... 23

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COUNTY OF SACRAMENTO

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2012

Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets ................................................... 24

Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ............................................. 25

Reconciliation of the Statement of Revenues, Expenditures

and Changes in Fund Balances of Governmental Funds to the Statement of Activities ..................................................... 26

Statement of Revenues and Expenditures – Budget and Actual – General Fund ................................................................... 28

Statement of Net Assets – Proprietary Funds ......................................................................................................................... 30

Statement of Revenues, Expenses and Changes in Fund Net Assets – Proprietary Funds ..................................................... 32

Statement of Cash Flows – Proprietary Funds ........................................................................................................................ 34

Statement of Fiduciary Net Assets – Fiduciary Funds ............................................................................................................ 36

Statement of Changes in Fiduciary Net Assets – Fiduciary Funds ......................................................................................... 37

Notes to Basic Financial Statements .......................................................................................................................................... 39

Required Supplementary Information (Unaudited):

Sacramento County Employees’ Retirement System - Schedule of Funding Progress ........................................................... 115

Other Post Employment Benefit (OPEB) Plan – Schedule of Funding Progress .................................................................... 116

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COUNTY OF SACRAMENTO

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2012

Combining and Individual Fund Statements and Schedules:

Non-major Governmental Funds:

Combining Balance Sheet ..................................................................................................................................................... 117

Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............................................................. 118

Special Revenue Funds:

Combining Balance Sheet ................................................................................................................................................. 122

Combining Statement of Revenues, Expenditures and Changes in Fund Balances .......................................................... 125

Individual Funds:

Schedules of Revenues and Expenditures – Budget and Actual ................................................................................. 128

Debt Service Funds:

Combining Balance Sheet .................................................................................................................................................. 146

Combining Statement of Revenues, Expenditures and Changes in Fund Balances .......................................................... 148

Individual Funds:

Schedules of Revenues and Expenditures – Budget and Actual.................................................................................. 150

Capital Project Funds:

Combining Balance Sheet .................................................................................................................................................. 164

Combining Statement of Revenues, Expenditures and Changes in Fund Balances .......................................................... 167

Individual Funds:

Schedules of Revenues and Expenditures – Budget and Actual ................................................................................. 170

Non-major Enterprise Funds:

Combining Statement of Net Assets ..................................................................................................................................... 186

Combining Statement of Revenues, Expenses and Changes in Fund Net Assets ................................................................. 187

Combining Statement of Cash Flows .................................................................................................................................... 188

Internal Service Funds:

Combining Statement of Net Assets ..................................................................................................................................... 192

Combining Statement of Revenues, Expenses and Changes in Fund Net Assets ................................................................. 193

Combining Statement of Cash Flows .................................................................................................................................... 194

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COUNTY OF SACRAMENTO

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2012

Agency Funds:

Combining Balance Sheet ..................................................................................................................................................... 198

Combining Statement of Changes in Assets and Liabilities ................................................................................................. 199

Trust Funds:

Combining Statement of Fiduciary Net Assets ..................................................................................................................... 204

Combining Statement of Changes in Fiduciary Net Assets .................................................................................................. 205

STATISTICAL SECTION

Net Assets by Component .............................................................................................................................................................. 208

Changes in Net Assets.................................................................................................................................................................... 209

Fund Balances of Governmental Funds ......................................................................................................................................... 212

Changes in Fund Balances of Governmental Funds ...................................................................................................................... 214

General Governmental Tax Revenues by Source ......................................................................................................................... 216

Assessed Value and Estimated Actual Value of Taxable Property ................................................................................................ 217

Average Property Tax Rates - All Direct and Overlapping Governments ..................................................................................... 218

Principal Property Taxpayers......................................................................................................................................................... 219

County Wide 1% - Secured and Unitary Property Tax Levies and Collections ............................................................................ 220

Ratios of Outstanding Debt by Type.............................................................................................................................................. 221

Legal Debt Margin Information ..................................................................................................................................................... 222

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COUNTY OF SACRAMENTO

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED JUNE 30, 2012

Pledged-Revenue Coverage ........................................................................................................................................................... 223

Demographic and Economic Statistics........................................................................................................................................... 224

Principal Employers ....................................................................................................................................................................... 225

Full-time Equivalent County Government Employees by Function .............................................................................................. 226

Operating Indicators by Function................................................................................................................................................... 228

Capital Asset Statistics by Function............................................................................................................................................... 230

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Intentionally Blank

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