'l}nderprovisionsofstatelaw,this l'eportisaptd:)licdocumer~ta Copyoftherepor~b-mbe<'.ns,.!bmitledto1:t~~udit~x<(:;re.:.

Transcription

1 BienvileParishSel)olBoa AnualFinanei Arcadia,Louisianard Asofandforth~v_alReport learendedjune30198 'l}nderprovisionsofstatelaw,this l'eportisaptd:)licdocumer~ta Copyoftherepor~b-mbe<'.ns,.!bmitledto1:t~~udit~x<(:;re.:.',/ie'~,{:d, entil:y~,.<],>(!,.:-~:yo<!y;i.<.p~;bic ohk.:i~:!'~?:.){:.,~n~'~i.~{',.'~:':~!"h-)for R<;'<'.,:fif:e;,i~i<g{~;k,[h/eAuditor~:I:'~h~:~.':.;.:p~x:%>;}:~te,athe ol/i<x-cif~pa;khclerko1"court. ReME~se[)ate

2 BicnvnleParishScholBoard AnualFinancialReport Arcadia,Louisiana AsofandfortheYearEndedJune30,198 INDEPENDENTAUDITORS'REPORT CONTENTS Statement GENERAL-I'URPOSEFINANCIALSTATEMENTS 1-2 CombinedBalanceShet GOVERNMENTALFUNDS: AlFundTypesandAcountGroups A 3-4 CombinedStatementofRevenues,Expenditures,and CombinedStatementofP.evenues,Expenditures,andChangesin ChangesinFundBalances B 5-6 NotestotheGeneral-PurposeFinancialStatements FundPalances-Budget(GAPBasis)andActual C 7-12 Index Notes

3 BienvileParishScholBoard Arcadia,Louisiana AnualFinancialReport AsofandforlheYearEndedJune30,198 SUPI'LEMENTALINFORMATION SPECIALREVENUEFUNDS CombiningBalanceShet CONTENTS CombiningStatementofRevenues,Expenditures,and ChangesinFundBalances StatementofRevenues,Expenditures,andChanges infondbalance-budget(gapbasis)andactual TitleI TitleVI SpecialEducation TitleIV Titleil Preschol AdultandVocationalEducation Childsearch ConsolidatedSalesTaxExpense SpecialSalesTax EmployeBenefits RepairandUpkep Medicaid SpecialOlympics ScholFodService ContractedServices ScholImprovementGrant DEBTSERVICEFUNDS: CombiningBalanceShet Combinit~gStatementofRevenues,Expenditures,and ChangesinFundBalances Exhibit (Continued)

4 BienvileParishScholBoard AnualFinancialReport Arcadia,Louisiana AsofandfortireYearEndedJune30,198 CONTENTS SUPLEMENTALINFORMATION:(Continued) ExhibitPage CAPITALPROJECTSFUNDS CombiningBalanceShet CombiningStatementofRevenues,Expenditures,and 7576 ChangesinFundBalance 7 AGENCYFUNDS: CombiningScheduleofAsetsandLiabilities CombiningStatementofChangesinAsetsandLiabilities 7879 ScheduleofChangesinDepositsDueOthers 80 ScholActivityAgencyFund SalesTaxAgencyFund GENERAL: OTHEREPORTSREQUIREDBY ScheduleofCompensationPaidBoardMembers 83 BYOFICEOFMANAGEMENTANDBUDGET(OMB)CIRCULARNO.A- AND l~,eportoilcomplianceandoninternalcontroloverfinancialreporting 3: 84 BasedonanAuditofFinancialStatementsPerformedinAcordance WithGovernmentAuditio~Standards ReportonComplianceWithRequirementsAplicabletoEachMajorProgramandon InternalControlOverComplianceinAcordanceWithOMBCircularNo.A-13 ScheduleofExpendituresofFederalAwards 87-8 NotestotheScheduleofExpendituresofFederalAwards 89 ScheduleofFindingsandQuestionedCosts (Continued)

5 BienvileParishScholBoard Arcadia,Louisiana AsofandfortheYearEndedJune30,198 AnualFinancialReport OTHERINFORMATION SumaryScheduleofPriorAuditFindings CorectiveActionPlanforCurent-YearFindingsandQuestionedCosts ManagementLeterItems ManagementLeter StatusofPriorManagementLeterItems (Concluded 101

6 ALEN,GREN&COMPANY,LP CERTIFIEDPUBLICACOUNTANTS P.O,Box FerandStretMonroe,I.A Monroe,LA71201 "felephone:t318)3~-42 Facsimile:(318)38~64 Websile:elengrencpa.eom BoardMembers BienvileParishScholBoard Arcadia,Louisiana 285GrenAcresOficePark G,O.P.BuildingI,Suite40 BosierCity,LA71 Telephone:(318)7414)205 Facsimile:(318) IndependentAuditors'Report ErnestL.Alen,CPA (AProfesional AcountingCorp.) TimGren,CPA MargieWiliamson,CPA WehaveauditedtheacompanyingGENERAL-PURPOSEFINANCIALSTATEMENTSofBicnvilcParish ScholBoard,Arcadia,Louisiana,asofandfortheyearendedJune30,198,aslistedinthetableofcontents. Thesegeneral-puq)osefinancialstatementsaretileresponsibilityoftheScholBoard'smanagement.Ouresponsibilityistoexpresanopinionoilflesegeneral-purposefinancialstatementsbasedonouraudit. Wconductedourauditinacordancewithgeneralyaceptedauditingstandardsandthestandardsaplicablein financialauditscontainedingovementauditingstandards,isuedbythecomptrolergeneraloftheunited States.Thosestandardsrequirethatweplanandperformtheauditobtainreasonableasuranceaboutwhether thefinancialstatementsarefreofmaterialmistatemem.anauditincludesexamining,onaleslbasis,evidence suportingtheamontsandisclosuresinthefinancialstatements.anauditalsoincludesasesingtheacounting principlesusedandsignificantestimateslnadebymanagement,aswelasevaluatingtheoveralfinancialstatement presentation.webelievethatourauditprovidesareasonablebasisforouropinion. GovernmcntalAcountingStandardsBoardTechnicalBuletin98-1,DisclosuresaboutYear20Isues,requires disclosureoferlainmatersregardingtheyear20isueinorderforfinancialstatementstobepreparedin conformitywithgeneralyaceptedacountingprinciples,suchrequiredisclosnresinclude:anysignificant amountofresourcescomitedtomakecomputersystemsandotherelectroniceqtdpment5,ear20-compliant; ageneraldescriptionoftheyear20isue,includingadescriptionofthestagesofworkinprocesorcompleted asofthendofthereportingperiodtomakecomputersystemsandotherelectronicequipmentcriticaltoconducting operationsyear20compliant;andtheaditionalstagesofworknecesaryformakingthecomputersystemsand otherelectronicequipmentyear20compliant.thescholboardhasomitedsuchdisclosures.wedonot provideasurancethathescholboardisorwilbeyear20ready,thathescholboard'syear20remediation efortswilbesncesfulinwholeorinpart,orthatpartieswithwhichthescholboardoesbusineswilbeyear 20ready. Inouropinion,exceptfortheomision&theinfomlationdiscusedintheprecedingparagraph,thegeneral-purpose financialstatementsreferedtoabovepresentfairly,inalmaterialrespects,thefinancialpositionoftheschol Board,asofJune30,198,andtheresultselisoperationsforthe3"carthenendedinconformitywilhgeneraly aceptedacountingprinciples. ]nacordancewithgove~entauditing.standards,wehavealsoisuedoureportdateddecelnbcr1,198,ol onrconsiderationoftilescholboard'sinternalcontroloverfinancialreportingandourtestsofitscompliancewith certainprovisionsoflaws,regulations,contractsandgrants. Member:AmericanInstituteofCertifiedPublicAcountants,SocietyofLouisianaCertifiedPublicAco~t~Lsand

7 BoardMembers BienvileParishScholBoard Arcadia,Louisiana Ourauditwasperformedforthepurposeoformingauopiniononthegeneral-purposefinancialstatementsofthe ScholBoard,takenasawhole.TheacompanyingSUPLEMENTALINFORMATION,aslistedinthetableof contents,ispresentedforpuq~osesofaditionalanalysisandisnotarequiredpartofthegeneral-purposefinancial statements.suchinformationhasbensubjectedtotheauditingproceduresapliedintheauditofthegeneralpurposefinancialstatementsand,inouropinion,isfairlystated,inalmaterialrespects,inrelationtothegeneralpurposefinancialstatementstakenasawhole. Also,theacompanyingOTHERINFORMATION,aslistedinthetableofcontents,ispresentedforpurposesof aditioualanalysisandisnotarequiredpartofthegeneral-purposefinaucialstatementsofthescholboard.such informationhasnotbensubjectedtotheauditingproceduresapliedintheauditofthegeneral-purposefinancial statementsand,acordingly,wexpresnopiniononit. Monroe,Louisiana DecemberI.198 ALEN,GREN&COMPANY.LP

8 BIENVILEPARISHSCHOLBOARD ALFUNDTYPESANDACOUNTGROUPS ArcadiaLouisiana CombinedBalanceShet June ASETSANDOTHERDEBITS Asets: GENERAL SPECIAL REVENUESERVICE NMENTALFUNDS DEBT PROJECTS CAPITAL Cashandcashequivalents Investments Receivables 19,368$ Interfundreceivables 4,30, ,010 2,278, ,049$ 437,12 Otherdebits Inventory Land,buildingsandequipment 183, ,605 1,213,140 6,85$ 18,84 27,393O Amountavailableindebtservicefunds Amountobeprovidedforpaymentofdebt 0 5, ,754,870400O 0 LIABILITIES,EQUITYANDOTHERCREDITS TOTALASETSANDOTHERDEBITS ~;41795a607~3t ~124t9~ Liabilities: Acounts,salariesandotherpayables Incuredbutnotreportedclaims Interfundpayables 2,063,623$ Depositsdueothers 62,461 Deferedrevenue 3, ,207$0 Bondspayable Compensatedabsencespayable 0 16, ,46100 Equityandothercredits: TotalLiabilities 0O 173,31906, ~ ~ 594,810$ 16,517$367,461 O0 Investmentingeneralfixedasets FundBalancas: Reservedforinventory $ 0 Reservedfordebtservice Unreservedandundesignatedfundbalance 26063_2,68, ,393 01,208,482 TotalEquityandOtherCredits 0 3,406, $2,6,063~2,695,395$1,208,482~3,406,70. TOTALIABILITIES,EQUITYAND OTHERCREDITS ~;4r795t607~ ~;12419~; THENOTESTOTHEFINANCIALSTATEMENTSAREANINTEGRALPARTOFTHISTATEMENT

9 StatementA FIDUCIARY- AGENCY GENERALGENERAL ASETS FIXED *ACOUNTGROUPS* LONG-TERM DEBT (MEMORANDUM TOTAL ONLY) 179,41$ 0 0$767,597 1,576,975 26,707, O 69, , ,296 27, ,54,075_7,54,075 1,208,482 1,208, ,41~;26707,479~;8,762,57 179,41 050O 2,846, ,296 62, , ,284 ~.$ 0~876257L12,050,30 0$26,707,479$ 0$26,707, ,208,482 27, ,740, ,7074~4~_795 0$36,684,19

10 BIENVILEPARISHSCHOLBOARD Arcadia,Louisiana CombinedStatementofRevenues,Expenditures, ALGOVERNMENTALFUNDS FortheYearEndedJune andchangesinfundbalances StatementB REVENUES Locatsources: GENERALREVENUESERVICEPROJECTS SPECIALDEBTCAPITAL(MEMORANDUM TOTAL ONLY) Taxes: Interestearnings Advalorem Fodservices Salesanduse $1,542,6$ 1,575,718 Statesources: Other Federalsources Equalization 207,340O7,314 2,02,896 1,61, , ,321 1,462 $1,415,642$ 4,961,204 59,493 Other 8,087,26 617,174 EXPENDITURES Totalrevenues ,149,32_ 271,130 61,196 O0 0 3,237,65 52,43 151, ,358, ,370 ~_12,083,692$6,401,54$1,475,135$153,320~;20,13,701 2,195,586 Curent: Instruction: Regularprograms Suportservices: Specialprograms Otherinstructionalprograms 6,39,685$ 1,32,010 Studentservices 205, ,706$ 382,51 Instructionalstafsupod Generaladministration 214, Scholadministration 46,27 Busineservices 53,480 5, ,134,391 1,714, ,795 Plantservices 65, ,416 Studentransportationservices 146,197 35, ,173 13, ,318 Facilitiesacquisitionandconstruction Fodservices Centralservices 1,215,135 17,41 82, ,643 2,26 1,07, , ,63 Debtservice: Principalretirement 135,571O 1,453, ,371 1,418, ,35 163,608 Interestandbankcharges , ,589,268 1,58, , , ,027 65,0 Totalexpenditures ~_1,586,72$5,825,298$1,120,493$1,916,563$20,49, ,419 EXCES(Deficiency)OFREVENUES OVEREXPENDITURES L496,920$576,256$354,642$(1,763,243)$(35,425)

11 BIENVILEPARISHSCHOLBOARD ALGOVERNMENTALFUNDS Arcadia,Louisiana CombinedStatementofRevenues,Expenditure, FortheYearEndedJune andchangesinfundbalances StatementB OTHERFINANCINGSOURCES(USES) GENERALREVENUESERVICEPROJECTS SPECIALDEBTCAPITAL(MEMORANDUM TOTAL ONLY) Operatingtransfersin Operatingtransfersout Bondproceds $6,0$0 0 (8,0) o$ ,525, ,525,0 (6,0) TOTALOTHERFINANCING SOURCES(USES) L6,0~;(6,0)$ 0$2,525,0.$2,525,0 EXCES(Deficiency)OFREVENUESAND OTHERSOURCESOVEREXPENDITURES FUNDBALANCESATBEGINING ANDOTHERUSES $502,920$570,256$354,642$76t,757$2,189, ,125,139853,8402,64,943 7,787,065 FUNDBALANCESA'I"ENDOFYEAR~;2,6a063$,2,695,395~;1,208,482~;3r406,70$g,976,640 THENOTESTOTHEFINANCIALSTATEMENTSAREANINTEGRALPARTOFTHISTATEMENT

12 BIENVILEPARISHSCHOLBOARD Arcadia,Louisiana CombinsdStatementofRevenues,Expenditures,andChanges infundbalances-budget(gapbasis)andactual GOVERNMENTALFUNDS FortheYearEndedJune30,198 StatementC *GENERALF REVENUES Localsources: BUDGET ACTUAL(UNFAVORABLE) VARIANCE Taxes: Interestearnings Advalorem Other Salesanduse 1,543,684$ 1,31,480 Statesources: 189,587 1,542,6$ Federalsources Equalization ,575, ,340 Other 8,987,26 7, ,238 (1,016) EXPENDITURES To a1revenues 790,017O 8,087,26 17,753(186) (172,843) 0 L1,929,494~12,083, ,~54 154,198 46,254 Curent: Instruction: Regularprograms Suportservices: Specialprograms Otherinstructionalprograms 6,424,380$ 1,306,106 Studentservices 198,254 6,39,685$ 1,32, ,280 (25,904) Instructionalstafsuport Generaladministration 235,76 84,695 (9,026) Scholadministration 403,521 Busineservices 584, ,292 21,474 Centralservices Plantservices 69,172 46,27 (42,706) Fodservices Studentransportationservices 149,105 65, ,197 53,480 10,769 43,676 2,908 1,050,04 30,675 Comunityserviceprograms 19,20 1,215, ,173 2,26 (165,131) (~0,498) 16,974 EXCES(Deficiency)OFREVENUES Totalexpenditures _ 9, ,571 (35,829) L1,481,274~;1,586,72~;(105,498) ,10 OVEREXPENDITURES.~ 48,20}_496,920~_ (CONTINUED) 48,70.

13 BIENVILEPARISHSCHOLBOARD GOVERNMENTALFUNDS Arcadia,Louisiana CombinedStatementofRevenues,Expenditures,andChangos InFundBalances-Budget(GAPBasis)andActual FortheYearEndedJune StatementC OTHERFINANCINGSOURCES(USES) BUDGET ENERALFUN ACTUAL (UNFAVORABLE) VARIANCE Operatingtransfersin EXCES(Deficiency)OFREVENUESAND Totalotherfinancingsources(uses) 0$ 0$ 6o~Qo$ 6,0$ 6,0go 6,0 OTHERSOURCESOVEREXPENDITURES FUNDBALANCESATBEGININGOFYEAR ANDOTHERFINANCINGSOURCES(USES) $ 48,20$ 502,920$ 54,70 FUNDBALANCESATENDOFYEAR _2,163,143 ~;2,61,363~2,6,063~ 2,163,143 54,70 O (CONTINUED)

14 BIENVILEPARISHSCHOLBOARD Arcadia,Louisiana CombinedStatementofRevenues,Expenditures,andChanges infundbalances-budget(gapbasis)andactual GOVERNMENTALFUNDS FortheYearEndedJune30,198 StatementC REVENUES Localsources: BUDGET SPECIALREVENUEFUNDSVARIANCE ACTUAL(UNFAVORABLEL Taxes: Interestearnings Advalorem Fodservices Salesanduse 1,9,985$ 1,489,085 Statesources: Other 153,70 96,878 Federalsources Equalization ,02,896$ 1,61, , , ,852 (2,379) 2,91 5,402 (38) Other EXPENDITURES Totalrevenues _2,251,822149,32 271,130 61,60 271,130 61,196 (404) 0 L6,326,050$6,401,54 (102,490~_ Curent: Instruction: Regularprograms Suportservices: Specialprograms Otherir~structioualprograms Studentservices 1,019,21 76,371$ 393, ,706$ 382,51 Generaladministration Instructionalstafsuport 62, Scholadministration Busineservices 275,20 141,493 5, ,696 (28,35) 1,396 Centralservices Plantservices 60, ,416 Fodservices Studentransportationservices 1,27, ,31 19,296 35,109 13,859 12,07 17,41 (59,89) 7,34 Facilitiesacquisitionandconstruction 1,358,48 1,50 1,07,591 1,453, ,13 147, ,57 (53,845) 1,85 (145,871) 32,198 (94,698) EXCES(Deficiency)OFREVENUES Totalexpenditures $5,731,359$5,825,298$ 0 47,464 (~ OVEREXPENDITURES $ 594,691$576,258$ (18,435~. (CONTINUED)

15 BIENVILEPARISHSCHOLBOARD GOVERNMENTALFUNDS Arcadia,Louisiana CombinedStatementofRevenues,Expenditures,andChanges infundbalances-budget(gapbasis)andactual FortheYearEndedJune30,198 SPECIALREVENUEFUNDS StatementC BUDGET ACTUAL FAVORABLE OTHERFINANCINGSOURCES(USES) Operatingtransfersout VARIANCE Saleofixedasets 0$ (6,0)$ (6,0) EXCES(Deficiency)OFREVENUESAND Totalotherfinancingsources(uses) $ 10 lo$ (6,o)$ 0 (6,1o)_ (10) OTHERSOURCESOVEREXPENDITURES FUNDBALANCESATBEGININGOFYEAR ANDOTHERFINANCINGSOURCES(USES) 594,791$570,256$ (24,535) FUNDBALANCESATENDOFYEAR 2,125,1392,125,139 0 ~;2,719,930~2,695,395~ (CONTINUED) (24,535)

16 BIENVILEPARISHSCHOLBOARD Arcadia,Louisiana CombinedStatementofRevenues,Expenditures,andChanges infundbalances-budget(gapbasis)andactual GOVERNMENTALFUNDS FortheYearEndedJune30,198 StatementC * REVENUES Localsources: BUDGET ACTUAL(UNFAVORABLE) VARIANCE Taxes: Interestearnings Other Advalorem $1,410,020$1,415,642$ EXPENDITURES Totalrevenues _ 4,584 59,493 14,909 5,62 $1,461,540$1,475,135$ 6,936 O (6,936) 13,595 Curent: Debtservice: Suportservices: Principalretirement Generaladministration 82,074$ 82,074$ O Interestendbankcharges EXCES(Deficiency)OFREVENUES Totalexpenditures _ 373,361 65, L1,120,435$1,1204~_93$ 373,419 (58) (58) FUNDBALANCESATBEGININGOFYEAR OVEREXPENDITURES 341,165$ 354,642$ 13,537 FUNDBALANCESATENDOFYEAR ~;1~194~945~;1=208~482~; r537 O (CONTINUED)

17 BIENVILEPARISHSCHOLBOARD Arcadia.Louisiana CombinedStatementofRevenues,Expenditures,andChanges infundbalances-budget(gapbasis)andactual GOVERNMENTALFUNDS FortheYearEndedJune30,198 StatementC REVENUES BUDGET ITALPROJECTSFUNDSVARIANCE ACTUAL(UNFAVORABLE) Localsources: Interestearnings EXPENDITURES Totalrevenues L 85,345$153,320$ 85,345$153,320$ 67,975 67,975 Facilitiesacquisitionandconstruction EXCES(Deficiency)OFREVENUES Totalexpenditure!; L2,832,737$1,916,563$ $2,832,737$1,916,563$ 916, ,174 OVEREXPENDI']URES L(2,747,392)$(1,763,~$ 984,149 OTHERFINANCINGSOURCES(USES) Bondproceds $2,525,0$2,525,0$ EXCES(Deficiency)OFREVENUESAND Totalotherfinancingsources(uses) $2,525,0$2,525,0$ 0 OTHERSOURCESOVEREXPENDITURES FUNDBALANCESATBEGININGOFYEAR ANDOTHERFINANCINGSOURCES(USES) $(2,392)$761,757$ 984,149 FUNDBALANCESATENDOFYEAR _ ~;2~42~51~;3a406=70~; ,64, t149 0 (CONCLUDED) THENOTESTOTHEFINANCIALSTATEMENTSAREANINTEGRALPARTOFTHISTATEMENT

18 BienvileParishScholBoard Arcadia,Louisiana NotestotheGeneral-PurposeFinancialStatements AsofandfortheYearEndedJune30,198 INDEX NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES A.REPORTINGENTITY B.FUNDSANDACOUNTGROUPS GovernmentalFunds FiduciaryFunds AcountGroups C.MEASUREMENTFOCUSANDBASISOFACOUNTING GovernmentalFunds Fiduciaryfunds D.BUDGETS GeneralBudgetPractices Encumbrances BudgetBasisofAcounting CASHANDCASHEQUIVALENTS INVESTMENTS SHORT-TERMINTERFUNDRECEIVABLES~PAYABLES INVENTORIES FIXEDASETS DEFREDREVENUES COMPENSATEDABSENCES LONG-TERMOBLIGATIONS FUNDEQUITY ~ INTERFUNDTRANSACTIONS SALESTAXES MEMORANDUMONLY-TOTALCOLUMNS USEOFESTIMATES STEWARDSHIP,COMPLIANCE,ANDACOUNTABILITY F,xcesofExpendituresOverApropriationsinIndividualFunds NOTE3-LEVIEDTAXES NOTE4-CAStANDCASHEQUIVALENTS NOTE5-INVESTMENTS NOTE6-RECEIVABLES NOTE7-FIXEDASETS NOTE8-RETIREMENTSYSTEMS NOTE9-OTHERPOST-EMPLOYMENTBENEFITS NOTE10-ACOUNTS,SALAR1ESANDOTHERPAYABLES NOTE1-COMPENSATEDABSENCES NOTE12-CItANGESINAGENCYFUNDEPOSITSDUEOTHERS NOTE13-LEASES NOTE14-GENERALONG-TERMOBLIGATIONS NOTE15-1NTERFUNDASETS/LIABILITIES NOTE16-RESERVEDFUNDBALANCES NOTE17-INTERFUNDTRANSFERS NOTE18-RISKMANAGEMENT NOTE19-IJTIGATIONANDCLAIMS NOTE20-ON-BEHALFPAYMENTSFORFRINGEBENEFITSANDSALARIES NOTE21-SUBSEQUINTEVENTS.14 ~14.14 ~15 ~15 ~16 ~16 ~16 ~17 ~17 ~17 ~18 ~18.18 ~18 ~20 ~ ~2 ~2 ~23 ~ ~

19 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE,I-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES AsofandfortheYearEndedJune30,198 "]'heacompanyingfinancialstatementsoftirebienvileparishscholboardhavebenpreparedinconfornlitywith generalyaceptedacountingpriuciplcs(gap)asapliedtogovernmentalunits.tilegovernmentalacounling StandardsBoard(GASB)istheaceptedstandard-setingbodyforestablishingovernmentalacountingand financialreportingprinciples. A.REPORTINGENTITY TileBienvileParishScholBoardwascreatedbyLouisianaRevisedStatute(LSA-R.S.)17:51toprovide publiceducationforthechildrenwithinbienvileparish.thescholboardisauthorizedbylsa-r.s.17:81 toestablishpoliciesandregulationsforitsowngovernmentconsistentwiththelawsofthestateoflouisiana andtheregulationsoftbelouisianaboardofelementaryandsecondaryeducation.thescholboardis comprisedofsevenmemberswhoarelectedfromsevendistrictsfortermsofouryears. TheScholBoardoperateseightscholswithintheparishwithatotalcnrolhncntofaproximately2,890 pupils.inconjunctionwiththeregulareducationalprograms,someofthesescholsoferspecialeducation and/oradulteducationprograms.inadition,thescholboardprovidestransportationandscholfodservices forthestudents. GASBStatement14establishescriteriafordeterminingthegovernmentalreportingentityandcomponentunits thatshouldbeincludedwithinthereportingentity.underprovisionsofthisstatement,thescholboardis consideredaprimarygovernment,sinceitisaspecialpurposegovermnenthathasaseparatelyelected governingbody,islegalyseparate,andisfiscalyindependentofotherstateorlocalgovenents.asusedin GASBStatement14,fiscalyindependentmeansthatheScholBoardmay,withoutheaprovalorconsent ofanothergovernmentalentity,detenineormodifyitsownbudget,levyitsowntaxesorsetratesorcbarges, andisuebondedebt.thescholboardalsohasnocomponentunits,definedbygasbslatemcnt14asother legalyseparateorganizationsforwhichthelectedscholboardmembersarefinancialyaeoutable.there arenotherprimarygovernmentswithwhichthescholboardhasasignificantrelationship. B.FUNDSANDACOUNTGROUPS TheacountsoftheScholBoardareorganizf_Aandoperatedonthebasisofundsandacountgroups.Afund isaniudel)eldentfiscalandacountingentitywithaself-balancingsetofacounts.fundacountingsegregates fundsacordiogtotheirintendedpurposeandisusedtoaidmanagementindemonstratingcompliancewith finance-relatedlegalandcontractualprovisions,theminimumnumberofundsaremaintainedconsistentwith legalandmanagerialrequirements.acountgroupsareareportingdevicetoacountforcertainasetsand liabilitiesofthegovermnentalfundsnotrecordedirectlyinthosefi.mds.

20 BienvileParishScholBoard NotestolheGeneral-PurposeFinancialStatements Arcadia,Louisiala NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandfortheYearEndedJune30,198 B.FUNDSANDACOUNTGROUPS(Continued) FundsoftheScholBoardareclasifiedintotwocategories:govemcotalandfiduciary.Inturn,each categoryisdividedintoseparateftmdtypes.thefundandacountgroupclasificationsandadescriptionof eachexistingfundtypefolow:.ernmentalfunds GovernmentalfundsacountfortheScholBoard'sgeneralgovernmentactivities,includingthecolection andisbursementofspecificorlegalyrestrictedmonies,theacquisitionorconstructionofgeneralfixed asets,andtheservicingofgeneralong-termdebt.govemeatalfundsinclude: Generalfund-theprimaryoperatingfundoftheScholBoard.Itacountsforalfinancialresources ofthescholboard,excepthoserequiredtobeacountedforinanotherfund. Specialrevenuefunds-acountfortherevenuesourcesthatarelegalyrestrictedtoexpenditures forspecifiedpurposes(notincludingexpendabletrustsormajorcapitalprojects). Debtservicet'unds-acountfortheservicingofgeneralong-termdebtnotbeingfinancedby proprietaryornonexpendabletrustfunds. Capitalprojectfunds-acountfortheacquisitionofixedasetsorconstructionofmajorcapital FiduciaryFunds projectsnotbeingfinancedbyproprietaryornonexpendabletrustfunds. Fiduciaryfundsacountforasetsheldbythegovernmentinatrustecapacityorasanagento~lbehalf ofoutsideparties,includingothergovernments,oronbehalfofotherfundswithinthescholboard. Agencyfimdsarecustodialinature(asetsequaliabilities)andonotpresentresultsofoperationsor haveameasurementfocus.agencyfundsareacountedforusingthemodifiedacrualbasisof acounting.thesefundsareusedtoacountforasetsthathegovernmentholdsforothersinanagency capacity.theseagencyfundsareasfolows: Scholactivityagencyfund-acountsforasetsheldbytheScholBoardasanagentforthe indi',idualscholsandscholorganizations. Salestaxcolectionagencyfund-acountsformoniescolectedonbehalfofothertaxingauthorities withintheparish. 15

21 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana AsofandfortheYearEndedJune30,198 NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOL1CIES(Continued) B.FUNDSANDACOUNTGROUPS(Continued) AcountGroups Thegeneralfi~edasetsacountgroupisusedtoacountforfixedasetsnotacountedforin proprietaryortrustfunds. Thegeneralong-termdebtacountgroupisusedtoacountforgeneralong-teruldebtandcertain C.MEASUREMENTFOCUSANDBASISOFACOUNTING otherliabilitiesthatarenotspecificliabilitiesofproprietaryortrustfunds. GovernmentalFunds Theacountingandfinancialreportingtreatmentapliedtoafundisdeterminedbyitsmeasurementfocus. Governmentalfundtypesusetheflowofcurentfinancialresourcesmeasurementfocusandthemodified acrualbasisofacounting.underthemodifiedacrualbasisofacountingrevenuesarerecognizedwben susceptibletoacrual(i.e.,whentheyare"measurableandavailable")."measurable"meanstheamount ofthetransactioncanbedeterminedand"available"meanscolectiblewithinthecurentperiodorson enoughthereaftertopayliabilitiesofthecurentperiod.thegovernmentconsidersalrevenuesavailable iftheyarecolectedwithin60daysafteryear-end.expendituresarerecordedwhentherelatedfundliability isincured,exceptforunmaturedprincipalandinterestongeneralong-termdebtwhichisrecognizedwhen theobligationsarcexpectedtobeliquidatedwithexpendableavailablefinancialresources. Withthismeasurementfocus,onlycurentasetsandcurentliabilitiesaregeneralyincludedouthe balancesbet.operatingstatementsofthesefundspresentincreasesandecreasesinetcurentasets. Thegovernmentalfandsusethefolowingpracticesinrecordingrevenuesandexpenditures: Revenues aresusceptibletoacrual. arerecordedasunrestrictedgrants-in-aidathetimeofreceiptorearlierifthesusceptibletoacrual criteriaremet.expenditure-drivengrantsarerecognizedasrevenuewhenthequalifying (whichincludestatequalizationandstaterevenuesharing) expenditureshavebenincuredandalothergrantrequirementshavebenmet. Otherece~_~becomemeasurableandavailablewhencashisreceivedbytheScholBoardand arerecognizedasrevenueathatime.

22 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandfortheYearEndedJune30,198 C.MEASUREMENTFOCUSANDBASISOFACOUNTING(Continued) GovernmentalFunds(Continued) Exoenditures Substantialyalotherexpendituresarerecognizedwhenfundliabilityhasbenincured Salariesarerecordedaspaid.Salariesfornine-monthemployesareacruedatJune30 Transfersbetwenfundsthatarenotexpectedtoberepaid(oranyothertypes,suchascapitalease transactions,saleofixedasets,debtextinguishments,long-termdebtproceds,etcetera)are acountedforasotherfinancingsources(uses).theseotherfinancingsources(uses)are Fiduciaryfunds recognizedathetimetheunderlyingeventsocur. Tileagencyfundiscustodialilnatureandoesnotpresentresultsofoperationsorhaveamcasurenlcnl focus.agencyfundsareacountedforusingthemodifiedacrualbasisofacounting.thisfandisused D.I)UI)GETS toacountforasetsthathescholboardholdsinanagencycapacity. TileScholBoardfolowstheseproceduresinestablishingthebudgetarydatareflectedinthecombined financialstatements: Stalestatuterequiresbudgetsbeadoptedforthegeneralfundandalspecialrevenuefunds EachyearpriortoSeptemberi5,theSuperintendentsubmitstotheBoardproposedanualbudgetsfor thegeneralfundandspecialrevenuefunds'budgets.publichearingsareconducted,priortothe Board'saproval,tobtaintaxpayercoments.Theoperatingbudgetsincludeproposedexpenditures andthemeansofinancingthem. Apropriations(unexpendedbudgetbalances)lapseatyearend. Formalbudgetintegration(withintheacountingrecords)isemployedasamanagementcontroldevice. Albudgetsarecontroledathedivision,departmentalorprojectlevel.Budgetamountsincludedin theacompanyingfinancialstatementsincludetheoriginaladoptedbudgetandalsubsequent amendments.theserevisionswereconsideredinsignificantbyfileboard.albudgetrevisionsare aprovedbytheboard.

23 BicnvileParishScholBoard Arcadia,Louisiana NotestotileGeneral-PurposeFinancialStatements NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandfortheYearEndedJune30,198 D.BUDGETS(Continued) Encumbrances Encumbranceacounting,underwhichpurchaseordersarerecordedinordertoreservethatportionoftile aplicableapropriation,isnotemployed.however,outstandingpurchaseordersaretakenintoconsiderationbeforexpendituresareincuredinordertoasurethataplicableapropriationsarenotexceded. Algoverumentalfunds'budgetsarepreparedolthemodifiedacrualbasisofacountiug,abasisconsistent withgeneralyaceptedacountingprinciples(gap).budgetedamountsareasoriginalyadoptedoras amendedbytheboard.legaly,theboardmustadoptabalancedbudget;thatis,totalbudgetedrevenues andotherfinancingsourcesincludingfundbalancemustequalorexcedtotalbudgetedexpendituresand otherfinancinguses.statestatutesrequiretheboardtoamenditsbudgetswhenrevenuesplusprojected revenueswithinafundarexpectedtobelesthanbudgetedrevenuesbyfivepercentormoreand/or expenditureswithinafundarexpectedtoexcedbudgetedexpendituresbyfivepercentormore.the ScholBoardaprovesbudgetsathefunctionlevelandmanagementcantransferamountsbetwenliue itemswithinafunction. Thecapitalprojectsfunds'budgetsareaprovedbytheBoard.Bystatute,theBoardisnotrequiredto adoptabudgetforitscapitalprojectfunds. Thedebtservicefunds'budgetsareaprovedbyfileBoard.Bystatute,theBoardisnotrequiredtoadopt E.CASItANDCASHEQUIVALENTS abudgetforitsdebtservicefunds. Cashincludesamountsindemandepositsandinterest-bearingdemandepositsandtimedepositacounts. Cashequivalentsincludeamountsintimedepositsandthoseinvestmentswithoriginalmaturitiesof90days orles.understatelaw,thescholboardmaydepositfundsindemandeposits,interest-bearingdemand deposits,ortimedepositswithstatebanksorganizedunderlouisianalawandnationalbankstmvingtheir principaloficesinlouisiana. F.INVESTMENTS ]uvestmentsarelimitedbyr.s.3:295andthescholboard'sinvestmentpolicy.iftheoriginalmaturities ofinvestmehtsexced90days,theyareclasifiedasinvestments;however,iftheoriginalmaturitiesarc90days orles,theyareclasifiedascashequivalents. Investmentsarestatedatcostexceptforinvestmentsintilexternalinvestmentpol,whicharereportedatfair value. Theinvestmentsarereflectedatquotedmarketpricesexceptfortilefolowingwhicharerequired/permitedas pergasbstatementno.31: 18

24 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandforfileYearEndedJune30,198 F.INVESTMENTS(Continued) 1.Investmentsiṇnonparticipatineinterest-earningcontracts,suchaslonegotiablecertificatesofdeposit withredemptiontermsthatdonotconsidermarketrates,arereportedusingacost-basedmeasurẹ 2.TheScholBoardreportedatamortizedcostmoneymarketinvestmentsandparticipatinginterest earninginvestmentcontractsthathavearemainingmaturityatimeofpurchaseofoneyearorles. Interest-earninginvestmentcontractincludetimedepositswithfinancialinstitutions(suchascertificates ofdeposit),repurchaseagrements,andguarantedinvestmentcontracts. Moneymarketinvestmentsareshort-term,highlyliquidebtinstrumentsthatincludeU.S.Treasury obligations. TheScholBoardparticipatesintheLouisianaAsetManagementPol,Inc.(LAMP)whichisanexternal investmentpolthatisnotsec-registered.becausethelampisanmtangementsponsoredbyatypeof governmentalentity,itisexemptbystatutefromregulationbythesec. TheinvestmentobjectiveoftheLAMPisthepreservationofcapitalandtilenmintenauceofliquidityand,to thextentconsistentwitlsuchobjective,curentyield. TileLAMPwasestablishedasacoperativendeavortoenablepublicentitiesoftheStateofLouisianato agregatefundsforinvestment.thispolingisintendedtoimproveadministrativeficiencyandincrease investmentyield.theboardofdirectorsoflampprovidescertainmanagementandadministrativeservices tolampand,throughacompetitivebidingproces,selectsacustodialbankandaninvestmentadvisor.the custodialbankholdstheasetsoflampandtheinvestmentdecisionsaremadebytheinvestmentadvisoṛ BoththecustodialbankandtheinvestmentadvisoraresubjectothereviewandoversightofLAMP. AnauditofLAMPisconductedanualybyanindependentcertifiedpublicacountant.TheLegislative AuditorofthestateofLouisianahasfulacestotherecordsoftheLAMP. RevisedStatute3:295. TheLAMPmayinvestinU.S.GovernmentSecurities.TheLAMPisdesignedtocomplywithrestrictionon investmentbymunicipalities,parishes,andothertypesofpoliticalsubdivisionsimposedunderlouisiana 19

25 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandfortheYearEndedJune30,198 F.INVESTMENTS(Conlinued) TheLAMPsekstomaintainastablenetasetvalueof$1.0perunit,butherecanbenoasurancethathe LAMPwilbeabletoachievethisobjective.TheLAMP'sportfoliosecuritiesamvaluedatfairvalue.The LAMPoperatesinamanerconsistentwiththeSEC'sRule2a-7oftheInvestmentCompanyActof1940,as amended,whichgovcmsmoneymarketmutualfunds(althoughthelampisnotamocymarketfundand hasnobligationtoconformtothisrule).inadition,thelampwilgeneralycomplywithotheraspects ofthatrule,includingtherequirementsflintalportfoliosecuritiesacquiredbythelampmusthave,athe timeofpurchase,amaximumremainingmaturityof397daysandmetcertainaditionalqualitystandards andthathelampmaintainadolar-weightedaverageportfoliomaturityofnotmorethan90days. Thefairvalueofthepositioninthepolisthesameasthevalueofthepolshares G.SItORT-TERMINTERFUNDRECEIVABLES/PAYABLES Duringthecourseofoperations,numeroustransactiousocurbetweniudividualfundsforgodsprovided orservices~endered.thesereceivablesandpayablesareclasifiedasinterfundreceivables/payablesonthe balanceshet.short-tern1ioterfundloansarealsoclasifiedasinterfundreceivables/payables. It.INVENTORIES Inventoriesofthegovernmentalfund-typearerecordedasexpendituresaspurchasedexceptforinvcotoO,of thescholfodservicefund. InventoryofthescholfodservicespecialrevenuefundconsistsofodpurchasedbyfileScholBoardand comoditiesgrantedbytheunitedstatesdepartmentofagriculturethroughthelouisianadepartmcotof AgricultureandForestry.Theconmloditiesarerecordedasrevenueswhenreceived(isued);however,al inventor)'itemsarcrecordedasexpenditureswhenconsumed.unusedcomoditiesatjune30,arereported asdeferedrevenue.alpurchasedinventoryitemsarevaluedatcost(first-in,first-out).comoditiesare asignedvaluesbasedoninformationprovidedbytheunitedstatesdepartmentofagriculture. 1.FIXEDASETS FixedasetsusedingovenuncotalfundtypesoftheScholBoardarerecordedinthegeneralfixedasets acountgroupatcostorestimatedhistoricalcostifpurchasedorconstructed.donatedfixedasetsarc recordedatheirestimatedfairvalueathedateofdonation.asetsinthegeneralfixedasetsacountgroup arenotdepreciated.interestduringconstructionisnotcapitalizedongeneralfixedasets. Aproximately90%ofixedasetsarcvaluedatactualcosts,whiletheremaining10%arevaluedatestimated costbasedontheactualcostoflikeitems. 20

26 BienvileParishSdlolBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandfortheYearEndedJune30,198 I.FIXEDASETS(Continued) Publicdomain(infrastructure)generalfixedasets(e.g.roads,bridges,sidewalksandotherasetsthatare imovableandofvalueonlytothegovernment)arecapitalized. Tilecostofnonalmaintenanceandrepairsthatdonotadtothevalueoftheasetormaterialyextendasets livesarenotincludedinthegeneralfixedasetsacountgroup. J.DEFEREDREVENUES TheScholBoardreportsdeferedrevenuesonitscombinedbalanceshet.Deferedrevenuesarisewhen resourcesarereceivedbythescholboardbeforeithasalegalclaimtothem,aswhengrantmoniesare receivedpriortotheocurenceofqualifyingexpenditures.insubsequentperiods,whenthescholboardhas alegalclaimtotheresources,theliabilityfordeferedrevenueisremovedfromthecolnbinedbalanceshetand therevenueisrecognized. K.COMPENSATEDABSENCES TheScholBoardhasthefolowingpolicyrelatingtosickandvacationleave: Al12-monthemployesearnfrom10to18daysofsickleaveachyearthatcanbeacumulatedwithout limitation.uponrctiremeutordeath,usedacumulatedsickleaveofupto25daysispaidtothemploye ortothemploye'sestateathemploye'scurentrateofpay.underthelouisianateachers'retirement System,andtheLouisianaScholEmployes'RetirementSystem,alunpaidsickleaveisusedintheretirement benefitcomputationasearuedservice. The12-monflemployesearu12to18daysofvacationleaveachyear.Vacationleavecanbeacumulated withoutlimitation.uponseparationofemployment,employesarepaidforvacationtime,notoexced 25days. TheScholBoard'srecognitionandmeasurementcriteriaforcompensatedabsencesfolows GASBStatement16providesthataliabilityforsickleavesbouldbeacruedusingoneofthefolowing teninationaproaches: A.A~acerua~f~reamedsick~eavesh~u~dbemade~n~yt~thextentitispr~bab~ethathebeue~tswi~ resultiuteninationpayments,ratherthanbetakenasabsencesduetoilnesorothercontingencies, B.Alternatively,agovernmentalentityshouldestimateitsacruedsickleaveliabilitybasedonthesick suchasmedicalapointmentsandfunerals. leaveacumulatedathebalanceshetdatebythosemployeswhocurentlyareligibletoreceive terminationpaymentsaswelasotheremployeswhoarexpectedtobecomeligibleinthefutul~',o receivesuchpayments.thescholboardusesthisaproachtoacruetheliabilityforsickleave.

27 BienvileParishScholBoard NotestotileGeneral-PurposeFinancialStatements Arcadia,Louisiana AsofandfortheYearEndedJune30,198 NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) K.COMPENSATEDABSENCES(Continued) GASBStatement16providesthatvacation characteristicshouldbeacruedasliabilityas folowingconditionsaremet: leaveandothercompensatedabsenceswithsimilar thebenefitsarearnedbythemployesifbothofthe A.Themployes'rightoreceivecompensationareatributabletoservicesalreadyrendered. B.Itisprobablethathemployerwilcompensatethemployesforthebenefitsthroughpaidtimeof Onlythecurentportionoftheliabilityforcompensatedabsencesisreportedinthefund.Thecurentportion orsomeothermeans,suchascashpaymentsaterminationoretirement. istheamountleftunpaidathendofthereportingperiodthatnormalywouldbeliquidatedwithexpendable availablefinancialresources.theremainderoftheliabilityisreportedinthegeneralong-termobligations acountgroup. l,.long-termobligations TheScholBoardreportslong-termdebtofgovermnentalfundsatfacevalueinthegeneralong-termdebt acountgroup.certainothergovernmentalfundobligationsnotexpectedtobefinancedwithcurentavailable financialresourcesarealsoreportedinthegeneralong-termdebtacountgroup. Forgovernmentalfundtypes,bondpremiumsandiscounts,aswelasisuancecosts,arerecognizeduring thecurentperiod,bondprocedsarereportedasanotherfinancingsourcenetoftheaplicablepremiumor discount.isuancecosts,evenifwitheldfromtheactualnetprocedsreceived,arereportedasdebtservice expenditures. M.FUNDEQUITY Reservesofundbalancerepresenthoseportionsofundequitynotapropriableforexpendituresorlegaly segregatedforaspecificfutureuse, Designationsofundbalancesrepresententativemanagementplansthataresubjectochange. N.INTERFUNDTRANSACTIONS Quasi-externaltransactionsareacountedforasrevenues,expenditures,orexpenses.Transactionsthat constitutereimbursementstoafundforexpendituresinitialymadefromithatareproperlyaplicableto anotherfundarerecordedasexpendituresinthereimbursingfundandasreductionsofexpendituresinthefund thatisreimbursed. equitytransfers. arereportedas

28 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE1-SUMARYOFSIGNIFICANTACOUNTINGPOLICIES(Continued) AsofandfortheYearEndedJune30,198 O.SALESTAXES TheBienvileParishScholBoardisauthorizedtocolectaonecentsalestaxwithinBienvileParish.Thetax hasnoexpilationdate.theprocedsfromthetaxareusedforsalariesandretirementbenefitsforschol teachersandotherscholemployesand/orformaintainingandoperatingscholbuildings,facilitieșand equipment,andisrecordedinthegeneralfund.thecostsofcolectingandadministeringthetaxarepaidfrom thesalestaxfund. OnAugust2,194,thevotersofBienvileParishaprovedtheasesmentofaonepercentparish-widesales tax,whichisrecordedasrevenueinthespecialsalestaxfund,aspecialrevenuefund.thenetrevenuesfrom thetaxareusedtopayforthemaintenanceandoperationoftheparishscholsandforcapitalimprovements totheparishschols.thetaxiscolectedbythescholboardandhasnoexpirationdate. P.MEMORANDUMONLY-TOTALCOLUMNS Thetotalcolumnsonthegeneral-purposefinaucialstatementsarecaptioned"MemorandumOnly"toindicate thatheyarepresentedonlytofacilitatefinancialanalysis.datainthesecolumnsdonotpresentfinancial position,resultsofoperationsorcashflowsinacordancewithgeneralyaceptedacountingprincipleṣ Neitherisuchdatacomparabletoaconsolidation,lntefundeliminationshavenotbenmadeintbc agregationofthisdata. Q.USEO17ESTIMATES Thepreparationofinmlcialstatementsinconformitywithgeneralyaceptedacountingprinciplesrequires managementomakestimatesandasumptionsthatafecthereportedamountsofasetsandliabilitiesand disclosureofcontingentasetsandliabilitiesathedateofthefinancialstatementandthereportedamountsof revenuesandexpendituresduringthereportingperiod.actualresultscouldiferfromthosestimateṣ

29 BienvnleParishScholBoard Arcadia,Louisiana NotestotheGeneral-PurposeFinancialStatements AsofandfortheYearEndedJune30,198 NOTE2-STEWARDSHIP,COMPLIANCE,ANDACOUNTABILITY ExcesofExpendituresOverApropriationsinIndividualFunds ThefolowingindividualfundshadactualexpendituresoverbudgetedexpendituresfortheyearendedJune30 198: Fund Generalfund Specialrevenuefunds Specialsalestax Employebenefits Scholfodservice Debtselvicefunds Budget Unfavorable ActualVariance $1,481,274$1,586,72$105,498 1,276,907 1,021,064 1,257,20 1,120,435 1,478,925 1,042,427 1,30, ,018 21,363 73,76358 Actualexpeudituresexcededapropriationsasaresultofunanticipatedexpendituresocuringiltilemonth ofjuneafterthelastbudgetrevision. NOTE3-LEVIEDTAXES TheScholBoardleviestaxesonrealandbusinespersonalpropertylocatedwithinBienvileParish'sboundaries. PropertytaxesareleviedbytheScholBoardonpropertyvaluesasesedbytheBienvileParishTaxAsesorand aprovedbythestaleoflouisianataxcomision. TheBienvileParishSherifsOficebilsandcolectspropertytaxesfortheScholBoard.Colectionsareremited tothescholboardmonthly. Milageratesadopted Levydate Taxbilsmailed Duedate Liendate PropertyTaxCalendar October3,197 October31,197 November15,197 December31,197 February17,198 AsesedvaluesarestablishedbytheBicnvileParishTaxAsesoreachyearonauniformbasisathefolowing ratiosofasesedvaluetofairmarketvalue: 10%land 10%residentialimprovements 15%industrialimprovements 15%machinery 15%comercialimprovements 25%publicservicepropcrtics,excludingland Arevaluationofalpropertyisrequiredafter1978tobecompletednolesthaoeveryfouryears.Thelastrevaluation wascompletedfortherolofjanuary1,196.totalasesedvaluewas$15,697,840incalendaryear197.

30 BienvileParishScholBoard Arcadia,Louisiana NotestotheGeneral-PurposeFinancialStatements AsofandfortheYearEndedJune30,198 NOTE3-LEVIEDTAXES Louisianastatelawexemptsfl~efirst$7,50ofasesedvalueofataxpayer'sprimaryresidencefromparishproperty taxes.thishomesteadexemptionwas$10,957,850oftheasesedvalueincalendaryear197. Statelawrequiresthesheriftocolectproperlytaxesinthecalendaryearinwhichtheasesmentismade.Property taxesbecomedeliaquentjanuary1ofthefolowingyear.iftaxesarenotpaidbytheduedate,taxesbearinterestat therateof1.25%permonthuntilthetaxesarepaid.afternoticeisgiventothedelinquentaxpayers,thesherifis requiredbytheconstitutionofthestateofl,ouisianatoseltheleastquantityofpropertynecesarytosetlethetaxes andinterestowed. Alproperlytaxesarerecordedinthegeneral,specialrevenuefundsandebtservicefundsonthebasisexplained iunote1.revenuesinsuchfundsarerecognizedintheacountingperiodinwhichtheybecomemeasurableand available.propertytaxesareconsideredmeasurableinthecalendaryearofthetaxlevy.estimateduncolectible taxesarethosetaxesbasedonpastexperiencewhichwilnotbecolectedinthesubsequentyearandareprimarily duetosubsequenladjustmentstothetaxrol.availablemeansdue,orpastdue,andreceivablewithinthecurent periodandcolectedwithinthecun'entperiodorexpectedtobecolectedsonenoughthereaftertopayliabilitiesof thecurentperiod.theremainingpropertytaxesreceivablearconsideredavailablebecausetheyaresubstantialy colectedwithin60daysubsequentoyear-end. ThetaxrolispreparedbytheparishtaxasesorinNovemberofeachyear;therefore,theamountof198property taxes1obecolectedocursindecember198;andjanuaryandfebruary19.asaresult,noproperlytaxes receivablefor198taxesisincludedontheacompanyingbalanceshetbecauseitisnotavailablewithin60days ofthescholboard'syear-end. listoriealy,virtualyaladvaloremtaxesreceivablewerecolectedsincetheyaresecuredbyproperty.therefore, thereisnoalowanceforuncolectibletaxes. Thefolowingisasumaryofauthorizedandlevied(taxrateper$1,0AsesedValue)advaloremtaxes Parish-widetaxes: Constitutional Operational Repairandupkep Employebenefit Districtsinkingfundtaxes ScholDistrict#1 ScholDistrict#2 ScholDistrict#4&5 ScholDistrict#16 ScholDistrict#16-37 ScholDistrict#28 ScholDistrict#3 Authorized Milage variable variable variable variable variable variable variable Levied Milage

31 BienvileParishScholBoard NotestotheGeneral-PurposeFinancialStatements Arcadia,Louisiana NOTE4-CASHANDCASHEQUIVALENTS AsofandforlheYearEndedJune30,198 AtJune30,198,theScholBoardhascashandcashequivalents(bokbalance)totaling$767,597asfolows Demandeposits Interest-bearingdemandeposits $131,394 Total 636,203 Thesedepositsarestatedatcost,whichaproximatesmarket.Understatelaw,thesedeposits(ortheresultingbank balances)mustbesecuredbyfederaldepositinsuranceorthepledgeofsecuritiesownedbydiefiscalagentbank. Themarketvalueofthepledgedsecuritiesplusthefederaldepositinsurancemustataltimesequaltheamounton depositwiththefiscalagent.thesesecuritiesareheldintilenameofthepledgingfiscalagentbankinaholdingor custodialbankthatisnmtualyaceptabletobothparties. Atyear-end,theScholBoard'scaryingamountofdepositswas$767,597andthebankbalancewas$1,567,261. Oftilebankbalance,$362,80wascoveredbyfederaldepositoryinsuranceorbycolateralheldbytileSchol Board'sagentintheScholBoard'sname(GASBCategory1).Theremainingbalance,$1,204,461wascolateralized withsecuritiesheldbythepledgingfinancialinstitution'strustdepartmentoragentbutnotintilesclmolboard'sname (GASBCategory3). Eventhoughthepledgedsecuritiesareconsidereduncolateralized(Category3)undertheprovisionsofGASB Statement3,LouisianaP,evisedStatute39:129imposesastatutoryrequirementonthecustodialbanktoadvertise audselthepledgedsecuritieswithin10daysofbeingnotifiedbythescholboardthathefiscalagenthasfailed topaydepositedfundsupondemand. NOTE5-INVFSTMENTS loveslmeutsarecategorizedintothesethrecategoriesofcreditrisk 1.Insuredoregistered,orsecuritiesheldbytheScholBoardoritsagentintheScholBoard'sname. 2.Uninsuredandunregistered,withsecuritiesheldbythecounterparty'strustdepamnentoragentintile 3.Uninsuredandunregistered,withsecuritiesheldbythecounterparty,orbyitstrustdepartmentorageul ScholBoard'sname. Atyearend,tileScholBoardinvestmentbalanceswereasfolows butnotinthescholboard'sname. Typeofinvestment ValueCost FairAmortized CarvinfAmoun Carying Investmentsnotsubjectocategorization: Amount Total F.xterualinvestmcnlpol(LAMP) Totalinvestments $1,576,975 $1,576,975

32 BienvileParishScholBoard Arcadia,Louisiana NotestotileGeneral-PurposeFinancialStatements AsofandfortileYearEndedJune30,198 NOTE6-RECEIVABLES TherecEivablesof$69,12atJune30,198,areasfolows ClasofReceivables TAXES:Salesanduse lutergovernmental-grants: Federal Slate Acounts Tota NOTE7-FIXEDASETS ThEchangesingeneralfixedasetsareasfolows Land Buildings Furnitureandfixtures Transportationequipment Constructioninprogres NOTE8-RETIREMENTSYSTEMS ['landescription Balance July1,197 $103,189 16,27,239 6,598,23 1,21,925 General Fund $173,861 8,0727 Special Revenue Fund Total $170, , $34, ,629 92,82 7 Balance AditionsReductions,lune30,198 30, ,368 1,964,027 $103,189 16,27,239 6,928,731 1,484,293 1,964,027 SubstantialyalScholBoardemployesparticipateineithertheTeachers'RetirementSystemorlheSchol Employes'RetirementSystem(theSystems),whicharecost-sharing,multiple-employerpublicemployeretirement systems(pers).benefitprovisionsareultimatelyaprovedandamendedbythelouisianalegislature. ParticipationintheTeachers'RetirementSystemisdividedintotwoplans-theTeachers'RegularPlanandthe TEachers'PlanA.Ingeneral,profesionalemployes(suchasteachersandprincipals)andlunchromworkersarc membersoftheixmisianateachers'retirementsystem(trs);otheremployes,suchascustodialpcrsomlelandbus drivers,aremembersofthelouisianascholemployes'retirementsystem(lsers).generaly,alful-time employesarceligibletoparticipateinthesystem.

33 BienvileParishScholBoard Arcadia,Louisiana NotestotheGeneral-PurposeFinancialStatements NOTE8-RETIREMENTSYSTEMS(Continued) AsofandfortheYearEndedJune30,198 WithrespectotheTeachers'RetirementSystemRegularPlan,normalretirementisatagesixtywithtelyearsof service,oratanyagewithtwentyearsofservice.theformulaforanualmaximumretirementbenefitsisgeneraly twopercent(withlesthantwenty-fiveyearsofservice)or2.5percent(withtwenty-fiveormoreyearsofservice) timestheyearsofcreditableservicetimestheaveragesalaryofthethirty-sixhighestsucesivemonths(plus$30 aplicabletopersonsbecomingmemberspriortojuly1,1986). UndertileTeachers'RetirementSystemPlanA,normalretirementisgeneralyatanyagewith30ormoreyearsof creditableservice,atagefifty-fivewithatleastwenty-fiveyearsofcreditableserviceandatagesixtywithatleast tenyearsofcreditableservice.theretirementbenefitformulaisgeneralythrepercentimestheyearsofcreditable servicetimestheaveragesalaryofthethirty-sixhighestsucesivemonthsplus$24peryearofservice. EmployesparticipatingintheScholEmployes'RetirementSystemareligiblefornonalretirementafterthirty yearsofservice,oraftertwenty-fiveyearsofserviceatagefifty-fiveoraftertenyearsofserviceatagesixty.the maxiumretirementalowanceiscomputedat2.5percentimesthehighesthirty-sixmonthsofaveragesalary,tilnes theyearsofserviceplusasuplementof$2.0permonthtimestheyearsofservice. BolhTRSandLSERSisueanualfinancialreports.Thereportscanbeobtainedbytelephoningorwritingtothe folowing: Teachers'RetirementSystemofLouisiana PostOficeBox94123 BatonRouge,Louisiana LouisianaScholEmployes'RetirementSystem PostOficeBox4516 FundinePolicy (25) BatonRouge,Louisiana70804 (25) Eachsystemisadministeredandcontroledathestatelevelbyaseparateboardoftrustes,withcontributionrates aprovedandamendedbythelouisianalegislature.benefitsofthesystemsarefndedbyemployeandemployer contributions.benefitsgrantedbytheretirementsystemsareguarantedbythestateoflouisianaunderprovisions ofthelouisianaconstitutionof1974.thescholboard'semployercontributionforthetrs,asprovidedbyslate law,isfundedbythestateoflouisianathroughanualapropriations,bydeductionsfromlocaladvaloremtaxes, andbyremitancesfromfirescholboard.fortilelsers,thescholboard'semployercontributionisfundedby thestaleoflouisianathroughanualapropriations. Inadition,themployerdoesnotremitotheTeaehe~'RetirementSystem,RegularPlanorPlanA,finemployer's contributionfortheprofesionalimprovementprogram(pip)portionofpayrol.thepipcontributionismade directlytotheretirementsystembythestateoflouisiana.

34 BienvileParishScholBoard Arcadia,Louisiana NotestotheGeneral-PurposeFinancialStatements AsofandfortheYearEndedJune30,198 NOTE8-RETIREMENTSYSTEMS(Continued) Contributionrates(asapercentageofcoveredsalaries)foractiveplanmembersasestablishedbytileLouisiana LegislaturefortheyearendedJune30,198,areasfolows: LouisianaTeachers'RetirementSystem: Regular PlanA LouisianaScholEmployes'RetirementSystem EmployeEmployer 8.0% 9.10% 6.35% 16.40% 16.40% 6.0% TotalcoveredpayroloftheScbolBoardforTRS-RegularPlata,TRS-PlanA,andLSERSfortheyearcoded June30,198,amountedto$7,913,835,$178,567,and$I,19,913respectively.Employercontributionsfortheyear endedjune30,198,andeachofthetwoprecedingyearsareasfolows: FiscalYearEnded June30,196 Jm30,197 June30,198 TRSPercentage AnualofAnual ActuarianyRequired RequiredContribution Contribution Paid $1,242,50 1,353,80 1,428, % 92.32% 92.89% LSERSPercentage AnualofAmal ActuarialyRequired RequiredContribution Contribution Paid $63,56 63, % 10.36% 10.36% Amalactuarialyrequiredcontributionsforeachplanaboveisbasedontheplan'sanualfinancialreportforthat yearexceptfortheyearendedjune30,198.eachanualactuarjalyrequiredcontributionfortheyearended June30,198,isbaseduponeachplan'sanualfinancialreportfortheyearendedJune30,197,whichisthelatest infonationavailable. NOTI,;9-OTItERPOST-EMPLOYMENTBENEFITS Inacordmowidlstatestatutes,theScholBoardprovidescertaincontinuinghealthcamandlifeinsurancebmfits foritsretiredemploye,es.substantialyalofthescholboard'semployesbecomeligibleforthesebenefitsifthe5, reachnonalretirementagewhileworkingforthescholboard.thesebenefitsforetiresareprovidedthrough thestateemployesgroupinsuranceprogram.thecostofbenefitsforetiresarepaidjointlybythemployeand thescholboard.thescholboard'sportionofthecostisrecognizedasanexpenditurewhenthemonthlypremium ispaid,thescholboard'scostofretirebenefitsfor198totaled841,57for253retires.