El Paso
County Community
College District
El Paso, Texas
COMPREHENSIVE
ANNUAL FINANCIAL
REPORT
for
FISCAL YEAR ENDED
August 31, 2011
COMPREHENSIVE
ANNUAL FINANCIAL
REPORT
for the
FISCAL YEAR ENDED
AUGUST 31, 2011
Prepared By:
Budget and Financial Services
El Paso County Community College District
El Paso, Texas
EL PASO COUNTY COMMUNITY COLLEGE DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED AUGUST 31, 2011
TABLE OF CONTENTS
INTRODUCTORY SECTION
PAGE
Transmittal Letter ................................................................................................................................................................... i
GFOA Certificate of Achievement .................................................................................................................................. xiii
Organizational Chart ........................................................................................................................................................ xiv
Principal Officials ............................................................................................................................................................... xv
FINANCIAL SECTION
Report of Independent Accountants ................................................................................................................................. 1
Management’s Discussion and Analysis .......................................................................................................................... 3
FINANCIAL STATEMENTS
Statement of Net Assets ............................................................................................................................................. 13
Statement of Revenues, Expenses and Changes in Net Assets ............................................................................ 14
Statement of Cash Flows .......................................................................................................................................... 15
Notes to Financial Statements ................................................................................................................................... 16
SUPPLEMENTARY INFORMATION
Schedule of Operating Revenues ............................................................................................................................. 38
Schedule of Operating Expenses by Object ............................................................................................................. 39
Schedule of Non-Operating Revenues and Expenses ........................................................................................... 40
Schedule of Net Assets by Source and Availability ............................................................................................... 41
STATISTICAL SECTION (Unaudited)
Statistical Section Categories ............................................................................................................................................ 43
Net Assets by Component and Changes in Net Assets ................................................................................................ 44
Revenues by Source ........................................................................................................................................................... 46
EL PASO COUNTY COMMUNITY COLLEGE DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS
(continued)
PAGE
STATISTICAL SECTION (Unaudited) - (continued)
Program Expenses by Function ........................................................................................................................................ 48
Tuition and Fees ................................................................................................................................................................. 50
Assessed Value and Taxable Assessed Value of Property ............................................................................................ 51
State Appropriation per FTSE and Contact Hour .......................................................................................................... 52
Principal Taxpayers ........................................................................................................................................................... 54
Property Tax Rates per $100 of Assessed Value ............................................................................................................ 56
Property Tax Levies and Collections ............................................................................................................................... 57
Ratios of Outstanding Debt .............................................................................................................................................. 58
Legal Debt Margin Information ....................................................................................................................................... 60
Pledged Revenue Coverage .............................................................................................................................................. 62
Demographic and Economic Statistics – Taxing District .............................................................................................. 63
Principal Employers ......................................................................................................................................................... 64
Faculty, Staff, and Administrators Statistics ................................................................................................................... 66
Enrollment Details ............................................................................................................................................................. 68
Student Profile ..................................................................................................................................................................... 70
Transfers to Senior Institutions ........................................................................................................................................ 72
Capital Asset Information ................................................................................................................................................. 74
SINGLE AUDIT SECTION
Independent Auditor’s Report on the
Schedules of Expenditures of Federal and State Awards ...................................................................................... 75
Schedule of Expenditures of Federal Awards ................................................................................................................ 76
Notes to Supplementary Schedule of
Expenditures of Federal Awards .............................................................................................................................. 80
Schedule of Expenditures of State Awards ................................................................................................................... 82
EL PASO COUNTY COMMUNITY COLLEGE DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS
(continued)
PAGE
SINGLE AUDIT SECTION (continued)
Notes to Supplementary Schedule of
Expenditures of State Awards .................................................................................................................................... 83
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 ............................................................................................ 84
Independent Auditor’s Report on Compliance with
Requirements Applicable to Each Major Program and on Internal
Control over Compliance in Accordance with OMB Circular A-133 and
The State of Texas Single Audit Circular ................................................................................................................... 86
Schedule of Findings and Questioned Costs .................................................................................................................. 88
INTRODUCTORY SECTION
Northwest Campus
FINANCIAL SECTION
Valle Verde Campus
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STATISTICAL SECTION
Rio Grande Campus
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SINGLE AUDIT SECTION
Transmountain Campus
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