To assure quality public services that provide for the present and future well-being of the citizens of Sedgwick County.

To establish, maintain and nurture partnerships to ensure effective and efficient delivery of services.

To train, encourage and recognize employees for hard work, creativity and innovation in delivering quality public services.

To foster two-way communication with citizens and employees to build trust, confidence and teamwork, and to ensure Informed decisions.

To allocate and use resources for basic and essential services that are responsive to the changing needs of our community.

© 2006, Sedgwick County.

	Comprehensive Annual Financial Report Year Ended December 31, 2006 BOARD OF COUNTY COMMISSIONERS SEDGWICK COUNTY, KANSAS
Prepared by the Division of Finance 525 N. Main, #823  Wichita, KS.  67203 Tel: (316) 660-7591, Fax: (316) 383-7729 Chris Chronis, Chief Financial Officer Troy Bruun, Deputy Chief Financial Officer Anne Smarsh, Director of Accounting

Table of Contents
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Introductory Section

• Manager's Letter
• Letter of Transmittal
• Certificate of Achievement
• Principal Officials
• Organization Chart

Financial Section

• Independent Auditors' Report
• Management's Discussion and Analysis
• Government-wide Financial Analysis
• Financial Statements
  Includes Statement of Net Assets, Activities, Balance Sheet, Reconciliation, Expenditures and Changes - Government Funds, Reconciliation - Revenues, Expenditures & Changes to Activities, Balance Sheet - Proprietary Funds, Revenues, Expenditures and Changes - Proprietary Funds, Cash Flows - Proprietary Funds, and Fiduciary Net Assets - Agency Funds.
• Notes to the Financial Statements
  Includes Summary of Significant Accounting Policies, Stewardship, Compliance & Accountability, Detailed Notes on all Funds, & Other Information

Combining and Individual Fund Statements and Schedules

• Government Funds
  Nonmajor Special Revenue Funds
  Special Revenue Funds are used to account for the proceeds of designated revenue sources that are used to finance specified activities as required by law or administrative regulation.
  
  Nonmajor Debt Service Fund
  Debt Service Funds are used to account for the proceeds of designated revenue sources that are used to finance general obligation debt.
  
  Nonmajor Capital Project Funds
  Capital Projects Funds are used to account for capital improvements (except those financed by proprietary funds) that are financed from the County's general obligation bond issues, special assessments and certain Federal grants.
   
• Enterprise Funds
  Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises.  The fund measurement focus is based upon determination of net income, financial position and changes in financial position.  Sedgwick County reports a single Enterprise Fund and additional information is presented in this section regarding the subfunds. 
  
  Coliseum/Arena Fund
  Kansas Coliseum Subfund
  Downtown Arena Subfund
   
• Internal Service Funds
  Internal Service Funds are used to account for the financing and administration of general services provided to various departments of the County.
  
  Fleet Management - provides and maintains vehicles and equipment for County departments
  
  Health/Dental/Life Insurance Reserve - provides for the payment of claims, judgments and expenses for health care and dental services
  
  Workers' Compensation Reserve - provides for the payment of workers' compensation claims and related costs.
  
  Risk Management Reserve - provides for the funding and payment of non-workers' compensation deductibles, self-insured claims and losses not otherwise insured.
   
• Agency Funds
  Agency Funds account for resources received and held by the County as agent which are to be expended as directed by the party for which the County is acting as agent.
  
  Tax Collection/Distribution Accounts
  Clearing/Other Fee Collections
  
  
• Component Unit
  The Sedgwick County Public Building Commission (SCPBC) is reported as a discretely presented component unit within the financial statements of Sedgwick County (the reporting entity) to emphasize its separate legal status.  The SCPBC acquires and finances buildings or facilities for Sedgwick County or other local agencies.

Statistical Section

The statistical section includes schedules showing ten-year financial trends as extracted from current and prior years' financial reports and other supplemental information relevant to the County.  The statistical schedules reflect social and economic data, financial trends and the fiscal capacity of the County.

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