COUNTY OF SANTA CRUZ,

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INTRODUCTORY SECTION

Letter of Transmittal	vii-xiv
Organization Chart	xv
Directory of Public Officials	xvi
Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting	xvii

FINANCIAL SECTION

Independent Auditors’ Report	3-4

GENERAL-PURPOSE FINANCIAL STATEMENTS

Combined Balance Sheets – All Fund Types, Account Groups and Discretely Presented Component Units Combined Statements of Revenues, Expenditures, and Changes in Fund Balances – All Governmental Fund Types and Expendable Trust Funds Combined Statements of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – General Fund, Special Revenue Funds and Capital Project Funds for Which Annual Budgets Have Been Legally Adopted Combined Statements of Revenues, Expenses, and Changes in Retained Earnings – All Proprietary Fund Types and Discretely Presented Component Units Combined Statements of Cash Flows – All Proprietary Fund Types and Discretely Presented Component Units Notes to the General-Purpose Financial Statements Required Supplementary Information – Schedule of Funding Progress	8-11 12-13 14-15 16-17 18-19 20-66 67

SUPPLEMENTAL INFORMATION SECTION – COMBINING AND ACCOUNT GROUP FINANCIAL STATEMENTS

General Fund General Fund – Description Comparative Balance Sheets Comparative Statements of Revenues, Expenditures, and Changes in Fund Balance Schedules of Expenditures Compared to Budget (GAAP Basis)	71 73 74 75-84

Special Revenue Funds Special Revenue Funds – Descriptions Combining Balance Sheets Combining Statements of Revenues, Expenditures, and Changes in Fund Balances Combining Statements of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – for Which Annual Budgets Have Been Legally Adopted	85-86 88-89 90-91 92-97

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Districts Governed by the Board of Supervisors Funds Combining Balance Sheets Combining Statements of Revenues, Expenditures, and Changes in Fund Balances	98-99 100-101

Debt Service Funds Debt Service Funds – Descriptions Combining Balance Sheets Combining Statements of Revenues, Expenditures, and Changes in Fund Balances	103 105 106

Enterprise Funds Enterprise Funds – Descriptions Combining Balance Sheets Combining Statements of Revenues, Expenses, and Changes in Retained Earnings Combining Statements of Revenues, Expenses and Changes in Retained Earnings – Budget and Actual Combining Statements of Cash Flows	107 110-111 112-113 114-118 120-121

Internal Service Funds Internal Service Funds – Descriptions Combining Balance Sheets Combining Statements of Revenues, Expenses, and Changes in Retained Earnings Combining Statements of Revenues, Expenses, and Changes in Retained Earnings – Budget and Actual Combining Statements of Cash Flows	123 126-127 128-129 130-134 136-137

Self-Insurance Funds Combining Balance Sheets Combining Statements of Revenues, Expenses, and Changes in Retained Earnings Combining Statements of Cash Flows	138 139 140-141

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Fiduciary Funds – Trust and Agency Trust and Agency Funds – Descriptions Combining Balance Sheets	143 145

Expendable Trust Funds Expendable Trust Funds – Descriptions Combining Balance Sheets Combining Statements of Revenues, Expenditures, and Changes in Fund Balances	147 149 150

Agency Funds Agency Funds – Descriptions Combining Balance Sheets Combining Statement of Changes in Assets and Liabilities	151 154-155 156-157

General Fixed Assets Account Group General Fixed Assets Account Group – Description Schedule of General Fixed Assets by Source Schedule of General Fixed Assets by Function and Activity Schedule of Changes in General Fixed Assets by Function and Activity	159 161 162 163

General Long-Term Debt Account Group General Long-Term Debt Account Group – Description Schedule of General Long-Term Debt	165 168-169

STATISTICAL SECTION (UNAUDITED)

Table I – General Fund Expenditures by Function	173
Table II – General Fund Revenues by Source	174
Table III – General Fund Tax Revenues by Source	175
Table IV – General Fund Property Tax Levies and Collections	176
Table V – Gross Assessed Value of Taxable Property	177
Table VI – Distribution of Property Tax Rate Among Direct and Overlapping Governments	178
Table VII – Computation of Legal Debt Margin	179
Table VIII – Statement of Direct and Overlapping Debt	180
Table IX – Salaries and Surety Bonds of Principal Officials	181
Table X – Budgeted Positions	182
Table XI – General Information	183
Table XII – Schedule of Insurance in Effect	184
Table XIII – Property Values, Units of Construction and Bank Deposits	185
Table XIV – Special Assessment Billing and Collections	186
Table XV – Outstanding Debt of the Public Financing Agency	187
Table XVI – Principal Taxpayers	188

Debt Service Funds