ACFR FY21

'

Annual Comprehensive Financial Report

Fiscal Year Ended June 30, 2021

Annual Comprehensive Financial Report of the

District School Board of Pasco County Land O’ Lakes, Florida

for the

Fiscal Year Ended June 30, 2021

Issued by:

Finance Services Department

�o District School Board of Pasco County Annual Comprehensive Financial Report For the Fiscal Year Ended June 30, 2021 Financial Section:Financial Section (continued):Combining and Individual Fund Financial Statements and Schedules:Statistical Section:INTRODUCTORY SECTION 'Z-Profile of the School District Economic Condition and Outlook Financial Information Academic Accomplishments Reporting Achievement Acknowledgements List of Principal Officials As of June 30, 2021 ADMINISTRATORS FINANCIAL SECTION 'Z-INDEPENDENT AUDITORS’ REPORT ON FINANCIAL STATEMENTS 'Z-MANAGEMENT’S DISCUSSION AND ANALYSIS 'Z-District School Board of Pasco County Management’s Discussion and Analysis June 30, 2021 Financial Highlights Overview of the Financial Statements Government-Wide Financial Statements Fund Financial Statements Notes to Financial Statements Required Supplementary Information Notes to Required Supplementary Information Government-Wide Financial Analysis Net Position Governmental Funds Proprietary Fund General Fund Budgetary Highlights Capital Asset and Debt Administration Long-term Debt Outlook for the Future Requests for Information BASIC FINANCIAL STATEMENTS 'Z-1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2. ACCOUNTING CHANGE 3. BUDGETARY COMPLIANCE AND ACCOUNTABILITY 4. INVESTMENTS 5. RECEIVABLES 6. CHANGES IN CAPITAL ASSETS 7. CURRENT LIABILITIES 8. CAPITAL LEASES 9. CERTIFICATES OF PARTICIPATION 10. DEFEASED DEBT 11. BONDS PAYABLE 12. CHANGES IN LONG-TERM LIABILITIES 13. FUND BALANCE REPORTING 14. ENCUMBRANCES 15. INTERFUND RECEIVABLES, PAYABLES, AND TRANSFERS 16. SCHEDULE OF STATE REVENUE SOURCES 17. PROPERTY TAXES 18. FLORIDA RETIREMENT SYSTEM 21. MEMBERSHIP IN NONPROFIT CORPORATION 22. CONSTRUCTION CONTRACT AND OTHER COMMITMENTS 23. RISK MANAGEMENT PROGRAMS 24. LITIGATION 25. SUBSEQUENT EVENTS OTHER REQUIRED SUPPLEMENTARY INFORMATION 'Z-SCHEDULE OF CHANGES IN THE DISTRICT SCHOOL BOARD’S SCHEDULE OF CONTRIBUTIONS – EARLY RETIREMENT PLAN SCHEDULE OF INVESTMENT RETURNS – EARLY RETIREMENT PLAN SCHEDULE OF CHANGES IN THE DISTRICT’S TOTAL OPEB LIABILITY AND RELATED RATIOS - OTHER POST-EMPLOYMENT BENEFITS SCHEDULE OF THE DISTRICT’S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY - FLORIDA RETIREMENT SYSTEM (FRS) DEFINED BENEFIT PENSION PLAN SCHEDULE OF THE DISTRICT’S CONTRIBUTIONS -SCHEDULE OF THE DISTRICT’S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY - HEALTH INSURANCE SUBSIDY (HIS) DEFINED BENEFIT PENSION PLAN SCHEDULE OF THE DISTRICT’S CONTRIBUTIONS -COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES �o 'Z--'Z-STATISTICAL SECTION Statistical Section Introduction For the Fiscal Year Ending For the Fiscal Year Ending District School Board of Pasco County Fund Balances - Governmental Funds Last Ten Fiscal Years General Governmental Tax Revenues by Source Last Ten Fiscal Years Property Tax Levies and Collections Last Ten Fiscal Years District School Board of Pasco County Ratios of Outstanding Debt by Type Last Ten Fiscal Years District School Board of Pasco County Legal Debt Margin Information Pledged-Revenue Coverage Last Ten Fiscal Years (Unaudited)Demographic and Economic Statistics Last Ten Fiscal Years Number of Personnel Last Ten Fiscal Years (Unaudited)Teacher Base Salaries Last Ten Fiscal Years (Unaudited)Operating Statistics Last Ten Fiscal Years (Unaudited)REPORTS AND SCHEDULES 'Z-District School Board of Pasco County Schedule of Findings and Questioned Costs