2008 Audit firstsec

Lane Council of Governments

Annual Financial Report

For the Year Ended June 30, 2008

















LANE COUNCIL OF GOVERNMENTS

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ANNUAL FINANCIAL REPORT
For the Year Ended June 30, 2008




















LANE COUNCIL OF GOVERNMENTS

TABLE OF CONTENTS
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INTRODUCTORY SECTION

Board of Directors ...................................................................................................................................................i
Organizational Chart ............................................................................................................................................ ii
Letter from the Executive Director ...................................................................................................................... iii

FINANCIAL SECTION

Independent Auditor's Report ............................................................................................................................ 1-2

Management’s Discussion and Analysis ......................................................................................................... 3-11

Basic Financial Statements:

Government-wide Financial Statements:
Statement of Net Assets ........................................................................................................................12
ent of Activities ..........................................................................................................................13

Fund Financial Statements:
Balance Sheet – Governmental Funds ... 14-15
Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Assets ...............16
Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ..........17
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances –
Governmental Funds to the Statement of Activities ..........................................................................18
Statement of Net Assets – Proprietary Funds ........................................................................................19
ent of Revenues, Expenses, and Changes in Net Assets – Proprietary Funds ............................20
Statement of Cash Flows – Proprietary Funds ................................................................................ 21-22
ent of Fiduciary Net Assets – Fiduciary Funds ..........................................................................23

Notes to the Financial Statements ......................................................................................................... 24-44

Other Statements, and Schedules:

Combining Statement of Changes in Assets and Liabilities – Agency Funds ............................................45

Schedules of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual:
General Fund ..................................................................................................................................46 Telecommunications .......................................................................................................................47 Grants and Contracts ................................................................................................................ 48-49
Boundary Commission ...................................................................................................................50 Park Place Building ................51 Springfield Building 52
Schaefers .........................................................................................................................53 Loan Program ..................54
LANE COUNCIL OF GOVERNMENTS

TABLE OF CONTENTS, Continued
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Other Statements and Schedules, Continued Page

Schedules of Resources and Requirements – Budget and Actual:
All Organizational Units ............................................................................................................55
General Fund .............................................................................................................................56
Board/Executive Services .......57
Planning Services .......................................................................................................................58
Technology Services...................................................................................................................59
Senior and Disabled Services ....................................................................................................60
Enterprise Funds ........................................................................................................................61
Support Services 62

Cost Allocation Plan......................................................................................................................... 63-64

Schedules of Revenues and Expenditures:
Department of Transportation .....65
Joint Fund ...................................................................................................................................66
Type B Funds .............................................................................................................................67
Economic Development .............................................................................................................68

Schedules Required by Oregon Minimum Standards:
Schedule of Insurance in Force ...................................................................................................69
Schedule of Future Requirements for Retirement of Long-Term Debt ................................ 70-73

Intermediary Relending Program:
Statement of Net Assets .............................................................................................................74 of Revenues, Expenses, and Changes in Net Assets .................................................75

Schedules of Available Cash and Non-Cash Resources and Program Expenditures:
Title III-B .............................................................................................................................. 76-77
Title III-C-1 .................................................................................................................................78
Title III-C-279
Title III-D................80
Title III-E........... 81-82
Title VII .......................................................................................................................................83
Oregon Project Independence ............................................................................................... 84-85

Schedule of Receivables and Deferred Revenue – Grants and Contracts ....................................... 86-87

LANE COUNCIL OF GOVERNMENTS

TABLE OF CONTENTS, Continued
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AUDIT COMMENTS AND DISCLOSURES REQUIRED BY STATE REGULATIONS ............................88-89

GRANT COMPLIANCE REVIEW:

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 ............................................................90-91
Report on Compliance with Requirements Applicable to Each Major Program
and on Internal Control Over Compliance in Accordance with
OMB Circular A-133 .................................................................................................................................92-93
Schedule of Expenditures of Federal Awards ...................................................................................................94-97
Notes to Schedule of Expenditures of Federal Awards ..................................................................................... 98-99
Schedule of Findings and Questioned Costs ........................................................................................................ 100

Summary Schedule of Prior Audit Findings ..........................................................................................................101






















I N T R O D U C T O R Y S E C T I O N
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