Comprehensive Annual Financial Report - Fiscal Year ended 6/30/2017

INTRODUCTORY SECTION 12
Organization Chart 12
FINANCIAL SECTION 25
Report of Independent Auditor 25
Management's Discussion and Analysis 29
Basic Financial Statements 45
Government-Wide Financial Statements: 47
Statement of Net Position 47
Statement of Activities 48
Fund Financial Statements 50
Balance Sheet - Governmental Funds 50
Reconciliation of the Governmental Funds Balance Sheet 51
Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds 52
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities 53
Statement of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual - General Fund 54
Statement of Net Position - Proprietary Funds 56
Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Funds 60
Statement of Cash Flows - Proprietary Funds 62
Statement of Fiduciary Net Position - Fiduciary Funds 64
Statement of Changes in Fiduciary Net Position - Fiduciary Funds 65
Notes to the Financial Statements 67
Note 1 - Summary of Significant Accounting Policies 67
Note 2 - Stewardship, Compliance, and Accountability 75
Note 3 - Detailed Notes on All Funds 76
Note 4 - Other Information 95
Required Supplementary Information 116
Other Post Employment Benefits - Schedule of Changes in the Net OPEB Liability and Related Ratios 116
Other Post Employment Benefits - Schedule of Funding Progress 117
Other Post Employment Benefits - Schedule of Employer Contributions 118
Other Post Employment Benefits - Schedule of Investment Returns 119
Local Government Employees' Retirement System - City of Raleigh's Proportionate Share of Net Pension Liability (Asset) 120
Local Government Employees' Retirement System - City of Raleigh's Contributions 121
Law Enforcement Officers' Special Separation Allowance - Schedule of Changes in Total Pension Liability 122
Law Enforcement Officers' Special Separation Allowance - Schedule of Total Pension Liability as a Percentage of Covered Payroll 123
Combining and Individual Fund Statements and Schedules 128
Combining Balance Sheet - Nonmajor Governmental Funds 128
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds 129
Special Revenue Funds 134
Combining Balance Sheet - Nonmajor Special Revenue Funds 134
Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Special Revenue Funds 136
Schedule of Revenues and Expenditures Compared with Budget: 138
Grants Fund 138
Housing Bond Fund 139
Community Development Fund 140
Disaster Recovery Fund 141
Convention Center Financing Fund 142
Emergency Telephone System Fund 143
General Capital Projects Funds 148
Combining Balance Sheet - Nonmajor Capital Projects Funds 148
Combining Statement of Revenues, Expenditures and Changes in Fund Balance - Nonmajor Capital Projects Funds 150
Schedule of Revenues and Expenditures Compared with Budget: 152
Street Improvement Fund 152
Street Bond Fund 153
Sidewalk Fund 154
Park Improvement Fund 155
Raleigh Union Station Fund 156
Facilities Fees Fund 157
Park Bond Fund 158
Miscellaneous Capital Improvements Fund 159
Walnut Creek Amphitheater Projects Fund 160
Technology Capital Projects Fund 161
Major Public Facilities Fund 162
Enterprise Funds 168
Schedule of Revenues and Expenditures - Budget (Modified Accrual Basis) and Actual: 168
Water and Sewer Fund (major fund): 168
Water and Sewer Operating Fund 168
Water Capital Projects Fund 170
Sewer Capital Projects Fund 171
Water and Sewer Revenue Bond Fund 172
Reconciliation of Modified Accrual to Full Accrual Basis - Water and Sewer Funds 173
Convention Center Complex Fund (major fund): 174
Convention and Performing Arts Complex Operating Fund 174
Convention and Performing Arts Complex Projects Fund 175
Convention Center Complex Capital Projects Fund 176
Reconciliation of Modified Accrual to Full Accrual Basis - Convention Center Funds 177
Mass Transit Fund (major fund): 178
Mass Transit Fund 178
Reconciliation of Modified Accrual to Full Accrual Basis - Mass Transit Fund 179
Stormwater Fund (major fund): 180
Stormwater Utility Operating Fund 180
Stormwater Utility Capital Projects Fund 181
Stormwater Utility Bond Fund 182
Reconciliation of Modified Accrual to Full Accrual Basis - Stormwater Funds 183
Parking Facilities Fund (major fund): 184
Parking Facilities Operating Fund 184
Parking Facilities Capital Projects Fund 185
Reconciliation of Modified Accrual to Full Accrual Basis - Parking Facilities Funds 186
Solid Waste Services (major fund): 187
Solid Waste Services Operating Fund 187
Reconciliation of Modified Accrual to Full Accrual Basis - Solid Waste Services Funds 188
Internal Service Funds 192
Combining Statement of Net Position 192
Combining Statement of Revenues, Expenses and Changes in Fund Net Position 194
Combining Statement of Cash Flows 196
Fiduciary Funds 202
Combining Statement of Net Position - Pension Trust Funds 202
Combining Statement of Changes in Plan Net Position - Pension Trust Funds 203
Other Schedules 206
Schedule of Long-Term Obligation Maturities and Debt Service Requirements 206
Schedule of General Governmental Long-Term Obligations 208
Schedule of Enterprise Long-Term Obligations 210
Schedule of Internal Service Long-Term Obligations 212
STATISTICAL SECTION 218
Net Position by Component - Last Ten Fiscal Years 218
Changes in Net Position - Last Ten Fiscal Years 220
Fund Balances, Governmental Funds - Last Ten Fiscal Years 224
Changes in Fund Balances, Governmental Funds - Last Ten Fiscal Years 226
Assessed Value of Taxable Property - Last Ten Fiscal Years 228
Property Tax Rates - Direct and Overlapping Governments 229
Principal Property Taxpayers 230
Property Tax Levies and Collections - Last Ten Fiscal Years 231
Analysis of Current Tax Levy 232
Schedule of Ad Valorem Taxes Receivable 233
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 234
Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years 235
Direct and Overlapping Governmental Activities Debt 236
Legal Debt Margin Information - Last Ten Fiscal Years 237
Pledged Revenue Coverage - Last Ten Fiscal Years 238
Demographic and Economic Statistics - Last Ten Fiscal Years 239
Principal Employers 240
City Government Employees by Function/Department - Last Ten Fiscal Years 241
Operating Indicators by Function - Last Ten Fiscal Years 242
Capital Asset Statistics by Function - Last Ten Fiscal Years 244
SINGLE AUDIT SECTION 249
Reports of Independent Auditor 249
Schedule of Expenditures of Federal and State Awards 262
Schedule of Findings and Questioned Costs 265
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