FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT SCHOOL DISTRICT OF CLAYTON June 30, 2023 SCHOOL DISTRICT OF CLAYTON TABLE OF CONTENTS Page Independent Auditors' Report 4 Management's Discussion and Analysis - Unaudited 7 Basic Financial Statements District-wide Financial Statements Statement of Net Position 19 Statement of Activities 20 Fund Financial Statements Balance Sheet - Governmental Funds 21 Reconciliation of the Governmental Funds Balance Sheet with the District-wide Statement of Net Position 22 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 23 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances with the District-Wide Statement of Activities 24 Statement of Net Position - Proprietary Funds 25 Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds 26 Statement of Cash Flows - Proprietary Funds 27 Notes to the Financial Statements 28 Required Supplementary Information - Unaudited Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Cash Basis General Fund 64 Special Revenue Fund 65 Notes to Required Supplementary Information 66 SCHOOL DISTRICT OF CLAYTON TABLE OF CONTENTS Page Net Pension Liability 68 Schedule of Changes in Total OPEB Liability and Related Ratios 70 Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Cash Basis Debt Service Fund 72 Capital Projects Fund 73 Annual Financial Information and Operating Data - Unaudited 75