(Memorandum TOTALS Only)

Transcription

1 COMBINEDSTATEMfI~rOFREV~,EXPf~DITURES,ANDCHANGES INFUNDBALANCES-ALC/)VERN~JgTALfl/NDTYPES VILEPLATEHOUSINGA[IFHORITY YearEndedJune30,196 ~A~NUES GeneralServiceProjects GovernmentalFundTypes DebtCap1tai Localso~gs: Dwelingrental f'ederalso~ces: Excesutilities Interestearnings Other Operatingsubsidy AnualContrlbutlons Grants Other 79,683 -$ (Memorandum TOTALS Only) EXPENDITtrRF~ Ch/rent: "Totalrevenues 76,717252, ,683 56~}2u ,717~ ,470 76, ,392 Administration Utilities Tenantset~2ices Ordil%ary1~aintenance 105, ,056 Protectiveservices Generalexpenditures Facilitiesacquisitionand Extraordinarymaintenance Other 171, ,293 7,826 Debtservice: construction Principalretirement 38, , ,163 4,708 Interestandbankcharges Totalexpenditures 62~ 37,12 39,3-3 ELKCES(deficiency)OF ,734 37,12 39,3 OTHERFINANCINGSOURCES(uses) OVa{EXPENDITURES Gain(los)onsaleofasets( (60~614)272 60,342 Operatingtransfersin Operatingtransfersout EXCES(deficiency)OF Totalotherfina]cing sources(uses) (12,714 12t714 FUNDBALANCE,BEGINING ANDCr~{ERSOURCESOVEREXPEN- DITURESANDOq~USES (73,328)272 f~oh~)balance,e3qding 179t906_2,936 73, ,5783, t ,786 Theacompanyingnotesareanintegralpartofthistatement 8

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3 AtJune30,196,theauthorityhascashandcashequivalentstotaling$189,496 asfolows: Demandeposits Timedeposits $84,54 Total 104, ,496 Thesedepositsarestatedatcost,whichaproximatesmarket.Understatelaw, thesedepositsmustbesecuredbyfederaldepositinsuranceorthepledgeof securitiesownedbythefiscalagentbank.themarketvalueofthepledged securitiesplusthefederaldepositinsurancemustataltimesequaltheamount ondepositwiththefiscalagent.thesesecuritiesareheldinthenameofthe pledgingfiscalagentbankinaholdingorcustodialbankthatismutualyaceptable tobothparties.atjune30,196,theauthorityhas$189,496indeposits.these depositsaresecuredfromriskby$104,54ofederaldepositinsurance.the remainingbalanceof$4,942isnotsecuredbythepledgeofsecuritiesandisa violationonstatelaw. Thereceivableso5$85,836atJune30,196,areasfolows: Clasof Receivable ~neral Localsources: Fund Service Debt Fund Total Federalsources: Tenants Acruinganualcontr. 9,19 $- Total 9,19 76r717 $9,19 76t717 =~= 85,836 = NOTE5-FIXEDASE~fS Thechangesingeneralfixedasetsareasfolows: June30,195AditionsDeletions Balance Balance 17 June30.196

4 bonq-termobliqations Long-termobligationsexpectedtobefinanciedfromgovernmentalfundsarereported NOTESTOFINANCIALSTATEMENTS(continued) inthegeneralong-termobligationsacountgroup.expendituresforprincipal andinterestpaymentsforlong-termobligationsarerecognizedinthegovernmental fundswhendue. ~und~c~lt~ Reservesrepresenthoseportionsof orlegalysegregatedforaspecific DesignatedFundBalances fundequitynotapropriableforexpenditures futureuse. Desi~atc~fundbalancesrepresententativeplansforfutureuseofinancial resources. InterfundTransactions Quasi-externaltransactionsareacountedforasrevenues,expenditures,orexpenses. Transactionsthatconstitutereimbursementstoafundforexpenditures/expenses initialymadefromithatareproperlyaplicabletoanotherfundarerecorded asexpenditures/expensesinthereimbursingfund~ndasreductionsof expenditures/expensesinthefundthatisreimbursed. Alotherinterfundtransaction,exceptquasi-externaltransactionsand reimbursements,arereportedastransfers.nonrecuringornonroutinepermanent transfersofequityarereportedasresidualequitytransfers.alotherinterfund transfersarereportedasoperatingtransfers. TotalColumnsonCombinedStatements ThetotalcolumnsonthecombinedstatementsarecaptionedMen~randumOnlyto indicatethatheyarepresentedonlytofacilitatefinancialanalysis.datain thesecolumnsdonotpresentfinancialposition,resultsofoperations,orchanges infinancialpositioninconformitywithgeneralyaceptedacountingprinciples. Neitherisuchdatacomparabletoaconsolidation.Interfundeliminationshave notbenmadeintheagregationofthisdata. NOTE2-~rI'JRES-ACI~ALANDBUDGET Thefolowingindividualfundshadexpenditures/expensesoverbudgeted expenditures/expensesfortheyearendedjune30,~96: Fund Generalfund $597,80 $625,819$(27,939) ActualUnfavorable Variance 16

5 NOTESTOFINANCIALSTAteMENTS(continued) 7.Thebudgetcomparisonpresentedinthefinancialstatementsincludestheoriginal CashandCashEQuivalents budgetandalamendments. Cashincludesamountsindemandeposits,interest-bearingdemandeposits,and moneymarketacountsandcertificatesofdepositwithoriginalmaturitiesof90 daysorles.understatelaw,theauthoritymaydepositfundsindemandeposits, interest-bearingdemandeposits,moneymarketacounts,ortimedepositswithstate banksorganizedunderlouisianalawandnationalbankshavingtheirprincipalofices inlouisiana. Understatelaw,theauthoritymayinvestinUnitedStatesbonds,treasurynotes, orcertificates.theseareclasifiedasinvestmentsiftheiroriginalmaturities exced90days;however,iftheorigina]maturitiesare90daysorles,theyare clasifiedascashequivalents. Short-tel~InterfundReceivables/Payables Duringthecourseofoperations,numeroustransactionsocurbetwenindividual fundsforgodsprovidedorservicesrendered.thesereceivablesandpayablesare clasifie~as"duefromotherfunds"or"duetotherfunds"onthebalanceshet. Short-terminterfundloansareclasifiedasinterfundreceivables/payables. Paymentsmadetoinsurancecompaniesforcoveragethatwilbenefitheperiodbeyond June30,196arerecordedasprepaidinsurance.Repairstofire-damagedunits begunpriortojune30,196,butnotexpectedtobecompleteduntilbeyondjune 30,196,isrecordedasmaintenancework-in-progres. FixedAsets Fixedasetsofgovernmentalfundsarerecordedasexpendituresathetimethey arepurchasedorcostructed,andtherelatedasetsarecapitalized(reported)in thegeneralfixedasetsacountgroup.publicdomainorinfrastructuresarenot capitalized.noconstructionperiodinterestcostshavebenincuredand capitalizedforthefiscalyearendedjune30,196.nodepreciationhasben providedongeneralfixedasets.alfixedasetsarevaluedathistoricalcost. CompensatedAbsences TheauthorityfolowsCivilServiceguidelinespertainingtotheacumulationof vacationandsickleave.thisleavemaybeacumulatedandcariedoverbetwen fiscalyears,withamaximumof30hoursofpaymentofleaveuponterminationor retirement. Thecostofcurentleaveprivileges,computedinacordancewithGASBCodification SectionC60,isrecognizedasacurent-yearexpenditureinthegovernmentalfunds whenleaveisactualytaken.thecostofleaveprivilegesnotrequiringcurent resourcesisrecordedinthegeneralong-termobligationsacountgroup. 15

6 NOTFSTOFINANCIALSTATEMENTS(continued) Rentalincome,excesutilities,andotherincomearerecordedinthemonthearned. Interestearningsarerecordedwhentimedepositsmatureandinterestiscredited totheauthority'sdeposits. l.~penditures Expendituresarerecordedwhentherelatedfundliabilityisincured.Thisincludes expendituresforsalariesandcapitaloutlayinthegeneralfund. Expendituresforprincipleandinterestonlong-termobligationsarerecognized whendue.theauthority'sliabilityforcompensatedabsencesisacountedforin thegeneralong-termobligationacountgroupandisrecordedanualy.atjune 130,196,theliabilityforacumulatedcompensatedabsenceswasminimalforthe generalfund,andnoliabilityhasbenrecorded. OtherFinancingSources(Uses) Transfersbetwenfundsthatarenotexpectedtoberepaidareacountedforas otherfinancingsources(uses).theseotherfinancingsources(uses)arerecognized athetimetheunderlyingeventsocur. Theauthorityreportsdeferedrevenuesonitscombinedbalanceshet.Defered revenuesarisewhenresourcesarereceivedbytheauthoritybeforeithasalegal claimtothem,aswhengrantmoniesarereceivedbeforetheincurenceofqualifying expenditures.insubsequentperiods,whentheauthorityhasalegalclaimtothe :resources,theliabilityfordeferedrevenueisremovedfromthecombinedbalance shetandtherevenueisrecognized. Budgets Theauthorityusesthefolowingbudgetpractices: I.TheExecutiveDirectorpreparesaproposedbudgetandsubmitsametotheBoard Comisionersnolaterthanthirtydayspriortothebeginingofeachfiscal 2.FolowingdiscusionandaceptanceofthebudgetbytheBoard,itisento year. 3.UponaprovalbyHUD,thebudgetisformalyadopted. HUDforaproval. 4.AnybudgetaryamendmentsrequiretheaprovaloftheExecutiveDirecotorand 5.Ar~ybudgetaryapropriationslapseathendofeachfiscalyear. BoardofComisioners. 6.BudgetsfortheGeneral,DebtService,andCapitalProjectsFundsareadopted onabasisconsistentwithgeneralyaceptedacountingprinciples(gap). 14

7 NOTESTOFINANCIALSTATEMENTS(continued) clasificationsandadescriptionofeachexistingfundtypefolow: Governmentalfundsacountforalormostoftheauthority'sgeneralactivities, includingthecolectionandisbursementofspecificorlegalyrestrictedmonies, theacquisitionorconstructionofgeneralfixedasets,andtheservicingofgeneral long-termobligations.governmentalfundsinclude: I.GeneralFund-thegeneraloperatingfundoftheauthorityacountsforal financialresources,excepthoserequiredtobeacountedforinotherfunds. TheGeneralFundincludestransactionsofthelowrenthousingasistanceprograms. 2.Debtservicefunds-acountfortransactionrelatingtoresourcesretainedand usedforthepaymentofprincipalandinterestonthoselong-termobligations recordedinthegeneralong-termobligationsacountgroup.debtservicefunds containcurentyearpaymentsofprincipalandinterestonprojectnotesandbonds payable. 3.Capitalprojectsfunds-acountforfinancialresourcesreceivedandusedfor theacquisition,construction,orimprovementofcapitalfacilitiesnotreported intheothergovernmentalfunds.capitalprojectsfundscontaintransactions relatingtoactivemodernizationandevelopmentprograms. FiduciaryFunds Fiduciaryfundsacountforasetsheldonbehalfofoutside~rties,including othergovernments,oronbehalfofotherfundswithintheauthority. TenantsSecurityDepositsAgencyFundconsistsofthetenantsecuritydeposit acounts. The AgencyFundstarecustodialinature(asetsequaliabilities)andonotinvolve BasisofAcountinq ofresultsofoperatior~. Theacountingandfinancialreportingtreatmentapliedtoafundisdetermined byitsmeasurementfocus.algovernmentalfundsareacountedforusingacurent financialresourcesmeasurementfocus.withthismeasurementfocus,onlycurent asets~]dcurentliabilitiesaregeneralyincludedonthebalanceshet. Operatingstatementsofthesefunch~presentincreasesandecreasesinetcurent asets.themodifiedacrualbasisofacountingisusedbyalgovernmentalfunds andagencyfunds.thegovernmentalfundsusethefolowingpracticesinrecording revenuesandexpenditures: OperatingsubsidiesandtheanualcontributionsreceivedfromHUDarerecorded whenavailableandmeasurable.federalrestrictedgrantsarerecordedwhen reir~ursablexpenditureshavebenincurred. 13

8 NOTESTOFINANCIALSTATEMENTS(continued) NOTEI-SUMARYOFSI(~N~FICANTA~INGPOLICIES BasisofPresentation Theacompanyingfinancialstatementsoftheauthorityhavebenpreparedin conformitywithgeneralyaceptedacountingprinciples(gap)asapliedto governmentalunits.thegovernmentalacountingstandardsboard(gasb)isthe aceptedstandardsetingbodyforestablishingovernmentalacountingandfinancial reportingprinciples. GASBStatementNo.14establishedcriteriafordeterminingthegovernmentalreporting entityandcomponentunitsthatshouldbeincludedwithinthereportingentity. Becauset~eauthorityitlegalyseparateandfiscalyindependent,theauthority othergeneraloversightresponsibility. isaseparategovernmentalreportingentity,orapointmentofgoverningbody,and TheauthcmityisarelatedorganizationoftheCityofVilePlate,Louisianasince ofvileplate,louisianaisnotfinancialyacountablefortheauthorityasit canotimposeitswilontheauthorityandthereisnopotentialfortheauthority themayorapointsavotingmajorityoftheauthority'sgoverningboard.thecity toprovidefinancialbenefito,orimposefinancialburdenson,thecityofvile Plate,I~uisiana.Acordingly,theauthorityisnotacomponentunitofthe Theauthorityincludesalfunds,acountgroups,activities,etcetera,thatare financialreportingentityofthecityofvileplate,louisiana. withintheoversightresponsibilityoftheauthority. Certainunitsoflocalgovernmentoverwhichtheauthorityexercisesnoversight responsibility,suchastheparishpolicejury,scholboard,andmunicipalities withintheparish,arexcludedfromtheacompanyingfinancialstatements.these unitsofgovernmentareconsideredseparatereportingentitiesandisuefinancial statementseparatefromthoseoftheauthority.inadition,theacompanying financialstatementsdonotincludevarioustenantasociationswhicharelegaly FundAcountinq separatentities. Theauthorityusesfundsandacountgroupstoreportonitsfinancialposition andtheresultsofitsoperations.fundacountingisdesignedtodemonstrate Afundisaseparateacountingentitywithaself-balancingsetofacounts.On legalcomplianceandtoaidfinancialmanagementbysegregatingtransactionsrelating tocertaingovernmentfunctionsoractivities. theotherhand,anacountgroupisafinancialreportingdevicedesignedtoprovide acountab]ilityforcertainasetsandliabilitiesthatarenotrecordedinthe Fundsoftheauthorityareclasifiedintotwocategories:governmentaland fundsbecausetheydonotdirectlyafectnetexpendablefinancialresources. fiduciary.eachcategory,inturn,isdividedintoseparatefundtypes.thefund 12

9 VILEPLATI~HOUSINGAUTHORITY ASofandfortheYearEndedJune30,796 NOPESTOFINANCIALSTAT~V~PS VilePlate,Louisiana INTRODUCPION TheVilePlateHousingAuthority(authority)wascreatedbyLouisiana RevisedStatute(LSA-R.S.)40:391toengageintheacquisition, development,andadministrationofalowrenthousingprogramtoprovide safe,sanitary,andafordablehousingtothecitizensofvil]eplate, Louisiana. Theauthorityisadministeredbya Mayor.membersoftheboardservefive-memberboardapointedbythe UndertheUnitedStatesHousingActof1937,asamended,theU.S. thre-yearterms. DepartmentofHotu~ingandUrbanDevelopment(HUD)hasdirectresponsibility foradministeringlowrenthousingprogramsintheunitedstates. Acordingly,HUDhasenteredintoananualcontributionscontractwith theauthorityforthepurposeofasistingtheauthorityinfinancing theacquisition,construction,andleasingofhousingunitsandtomake anualcontributions(subsidies)totheauthorityforthepurposeof maintainingthislowrentcharacter. AtJune30,196,theauthoritymanages25publichousingunits. Inadition,theauthorityiscurentlyadministeringoneseparate modernizationprogram.

10 VILEPLATEHOUSINGAUTHORITY COMBINEDSTAT~INTOF~S,EXPENDITURES,ANDCHANGESIN FUNDBALANCES-BUDGET(GAPBASIS)ANDACTUAL-GEN~AL, DEBTSERVICE,ANDCAPITALPROJECtFU~)S FortheYear~dedJune30,196 ~S Localsources: Dwelingrental Excesutilities Interestearnings other Federalsources: Operatingsubsidy Ar~,uaiContributions Gra~nts qidtairevenues EXPenDITURES Curent: Ac~ninistration Utilities Tei~ntservices Ordinaryn~intenance Protectiveservices GeneralFund.Budget 179,683 Contract , ,050 4,24 156,934 Generalexpenditures 109,424 Extraordinarymaintenance 10,50 Facilitiesacquistion&construction28,390 Debtservice: Principalretirement Interestandbankcharges Totalexpenditures EXC~3S(deficiency)OFREV~U~ OVeREXPENDITURES OTHERFINANCINGSOURCES(uses) Gain(los)onsaleofasets Totalother~inancing sources(uses) 597; Actual 179,683 I565, , ,056 7, ,743O 15,293 4,708 38,693 Variance- Favorable (Unfavorable) 3,12 3,94 3,602 14, ,869 5,792 10, f819(27,939 60t614)( ,734)(12;714 EXCES(deficiency)OFREVP~NUES ANDOTHERSOURCESOVE~pEN- DI/RESANDOT}~ERUSES 3,384(73,328)(76,712 FUNDBALANCE,BEGINING 179,90~ }~/NDBALANCE,[~I)ING 3,384106,578103,194 Theacompanyingnotesareanintegralpartofthistatement 9

11 NOTESTOFINANCIALSTATEmeNTS(continued) NOTE1-INTERFUNDASETS/LIABILITIES Interfundreceivable/payable: ReceivableFund Fiduciaryfund Generalfund Amount $20,265 AtJune30,196,theauthoritywasnotinvolvedinanylawsuitsorawareofany claimsagainstit.theauthoritydidnotretaintheservicesofanatorney. NOTE13-F~]ERAL(]MPLIANCE Noquestionedordisalowedcostswerenotedforinclusioninoureport.Al findingsnotedinthe"findings,recomn~ndationsandreplies"sectionofthisreport wereforviolationsoflouisianalawandonotmaterialyafecthegeneralpurpose financialstatements. Theauthorityobtainedanadequatepledgeofsecuritiestoinsureits depositswithitsfiscalagentbankonoctober17,196.asindicated innote3,theauthoritywasinadequatelyinsuredatjune30,

12 Fiduciary Agency Fund AcountGroups Fund General Fixed Asets Obliqations Long-term General TOTALS (Memorandum Only) 20, ,04,608 7,04, , ,2657,04, ,431 8,102,343

13 BALANCESHET-ALFUNDTYPESANDACOUNTGROUPS VILEPLATEHOUSINGAUTHORITY June30,196 GovernmentalFundTypes LIABILITIES,EQUITY,ANDOTHER General Service Debt Capital Projects Liabilities: CREDITS Acounts,salaries,andother Depositsdueothers Interfundpayable payab]es $ 2,623$ Deferedrevenues 20,265 Maturedbondsandinterestpayable- Compensatedabsencespayable 85,648 Bondspayable 76,717 EquityandOtherCredits: TotalLiabilities Contributedcapital Investmentingeneralfixed asets Fundbalances: Reserved Unreserved 106,578-3,208 TotalEquityandOther TOTALIABILITIES,EQUITY, Credits I06r578 3,208 ANDOTHERCREDITS 235,14 79,925 - Theacompanyingnotesareanintegralpartofthistatement. 6

14

15 BALANCESHET-AL~NDTYPESANDACOUNTGROUPS VILEPLATI~HOUSINGAUTHORITY June30,196 GovernmentalFund ASETSAN])OTHERDEBITS General ServiceCapital Debt Projects Asets: Cashandcashequivalents Receivables(netofalowanceforuncolectables) $186,28$3,208$ Interfundreceivable 9,19 OtherDebits: Prepaiditems Land,buildingsandequipment 39,707 Amountavailableindebt Amountobeprovidedfor servicefunds retirementofgeneral long-termobligations TotalAsets 235,14 79,925 Theacompanyingnotesareanintegralpartofthistatement. 4

16 GENERAL FINANCIAL PURPOSE STATEMENTS

17 ]~rdofcomisioners VilePlateHousingAuthority VilePlate,Louisiana Page2 Opelousas,Louisiana October17,196 RICHARDC.URBAN,C.P.A.

18 INDEPENDENTAUDITOR'SREPORT qbtheboardofcomisioners VilePlateHousingAuthority VilePlate,Louisiana Wehaveauditedtheacompanyingeneralpurposefinancialstatementsofthe HousingAuthorityoftheCityofVilePlate,Louisianasofandforthe yearendedjune30,196,aslistedinthetableofcontents.thesefinancial statementsaretheresponsibilityofthehousingauthority'smanagement.our responsibilityistoexpresanopiniononthesefinancialstatementsbased onouraudit. Weconductedourauditinacordancewithgeneralyaceptedauditingstandards. ~osestandardsrequirethatweplanandperformtheauditobtainreasonable asuranceaboutwhetherthefinancialstatementsarefreofmaterialmisstatement.anauditincludesexamining,onatestbasis,evidencesuporting theamountsandisclosuresinthefinancialstatements.anauditalsoincludes asesingtheacotmtingprinciplesusedandsignificantestimatesmadeby management,aswelasevaluatingtheoveralfinancialstatementpresentation. Webelievethatourauditprovidesareasonablebasisforouropinion. Inouropinion,thegeneralpurposefinancialstatenlentsreferedtoabove, presentfairlyinalmaterialrespects,thefinancialpositionofthehousing AuthorityoftheCityofVilePlate,b0uisiana,asofJune30,196,and theresultsofitsoperationsfortheyearthenended,inconformitywith generalyaceptedacountingprinciples. Ourauditwasmadeforthepurposeoforminganopiniononthegeneralpurpose financialstatementstakenasawhole.theacompanyingsuplemental informationstatementsandscheduleslistedinthetableofcontentsare includedtomethudregulatoryrequirements.thesestatementswereprepared inconformitywiththeacountingpracticesprescribedbythedepartmentof HousingandUrbanDevelopment,whichisacomprehensivebasisofacounting otherthangeneralyaceptedacountingprinciples.suchinformationhas bensubjectedtotheauditingproceduresapliedintheauditofthegeneral purposefinancialstatementsand,inouropinion,isfairlypresentedinal ~aterialrespectsinrelationtothegeneralpurposefinancialstatementstaken asawhole.

19 FINANCIALSECTION

20 3~ IndependentAuditOr,s [nd~e~nidentauditor,sre~-,- ~uz~ts~~.~eoncorn4. AuditingStandardsReportonComplia2~ceWitJ]COVernmer]t ~'~,~ElveFalrHousin~IC StatusofPriorAuditFindings FindingșRec~n~nendationsandReplies' jn(]erprovisionsofstatelaw,tins repertisapublicdocumenta copyofthereporthasi~em~,submittedtotheal~fit~d,oreviewed, entityandoti~rap~'cpricklepublic oficials.thergpoi-t~5avaiablefor pub!icin~:pc,c,ti;:.n~-,!:thebaton Rougeol-fi<eofthoL,;gisiativeAuditorand,wh~3eap~opri{-.te,atlhe oficeoftheparishcierkofcou~ eleasedate

21 DebtServiceFund Budget (Unfavorable) Variance Favorable italprojectsfundvariance Actual(unfavorable Favorable $ -$ ~61717_76r717 76,717 76, L!~ L ,470 25~ ~L9,3 ~'6,45 3;7,12 _39~3 37, _2, ,208 2,936 0

22 [<EC[~IVED v,~'~,'~,],',~'[:/',~.~u, T'~.r~. TABLEOF t5l~'9!j-if.il9:08 FINANCIALSECPION IndependentAuditor'sReport GeneralPurposeFinancialStatements: CONTENTSO~f", OFICIAL ~cu, FILECOPY DONOTSL~DOUT (Xeroxneoe~sary COl)i~frc4Dthl~, C(J[)yDl~dPL/k(~ f]ackinf]lf) CombinedBalanceShet-AlFundTypesandAcountGroups Page I-24-7 combinedstatementofrevenues,expenditures,andchangesinfund Balances-AlGovernmentalFundTypes 8 CombinedStatementofRevenues,Expenditures,andChangesinFund Balances-Budget(GAPBasis)andActual-General,Debt ServiceandCapitalProjectFunds NotestoFinancialStatements IndependentAuditor'sReportonFederalFinancialAsistance ScheduleofFederalFinancialAsistance SUP~'ALINFORMATIONSTATEMENTSANDSCHEDULES(STARRYBASIS) BalanceShetatJune30,196 Statem~]tofRevenueandExpenditures-P}~OwnedHousing-Year EndedJune30,196 StatementofSurplus-YearEndedJune30,196 ComputationofResidualReceipts~]dAcruingAnualContributions PHAO~ledHousing-YearEndedJune30,196 StatementofModernizationCosts-UncompletedatJune30,196 StatementandCertificationofActualDevelopomentCosts AnalysisofGeneralFundCashBalanceatJune30,196 ScheduleofAdjustingJournalEntries DEC]~J96 IndependentAuditor'sReportontheInternalControlStructure IndependentAuditor'sReportonCompliancewithSpecific RequirementsAplicabletoMajorHUDPrograms IndependentAuditor'sReportonComplianceWiththeGeneral Requirem~entsAplicabletoMajorHUDPrograms IndependentAuditor'sReportonC~nplianceWithSpecific Require]nentsAplicabletoNonmajorHUDProgramTransactions

23 HOUSINGAUTHORITYOFTHE ANALYSISOFGENERAl,FUNDCASHBALANCE VilePlate,CITYOFVILEPLATE Louisiana ATJUNE30,196 AnualContributisContractFW-179 COMPUTATIONBEFOREADJUSTMENTS Netoperatingreceiptsretained: Operatingreserve Tenantsecuritydeposits $21, Residualreceipts(deficit) Auditadjustmentsafectingeneralfundcash ((15,094.35) 20, ) 126, ~JUSTME~PS Expenses/costsnotpaid: Acountspayable AcruedPILOT ]incomenot Deferedcredits 17, , , Generalf~Idcashavailable Acountsreceived: receivable (9,19.36) 25,95.12 OTHERAPLICATIONSOF~ [~feredcharges FUNDCASH Maintenancework-in-progres Xnvestments 27, , r GENERALFUNDCASH 81,

24 HOUSINGAUTHORITYOF'THECITYOFVILEPLATE CERTIFICATIONOFACTUALDEVELOPMH~ZfCOSTS VilePlate,Louisiana PROJEC9LA30-07 I.TheActual;DevelopmentCostsoftheProjectareasfolows: Siteacquisition Clasification Amount Planingandadministration Siteimprovements Dwelingconstructionandequipment Totalcost 1,373, ThePHAhasneverfiledafinalActualDevelo~nentCostCertificate withhud.arepresentativeofhudinwashington,d.c.isinthe procesofclosingoutheprogram. Aldevelopmentcostshavebenpaidandalrelatedliabilitieshave bendischargedthroughpayment. 28

25 HOUSINGAUTHORITYOFTHE VilePlate, CITYOFVILEPLATI~ SChEDULEOFADJUSTINGJOURNALENTRIES Louisiana June30,196 Act.No. Pur~x~ses foraudit 3690 DescriDtien Credit Act.No. Boks forpha 45701"12 (I)Otherincome 129 Colectionloses Tenantacountsreceivable $ ,30.14 $4,89.21 Othereceivables TorecordcolectionlosesaprovedbyBoarduringtheyearand toadjustothereceivablestoactualatyearend (2)Prioryearadj.af.res.rec.1,412.0 PILOT 1,412.0 N/A ToadjustPILOTtoactualatyearend NIA (3)HUDA1mualContr.Rec. Debtservicefunds 76, , ToreclasifyHUDanualcontributionreceivable ] (4)Land,structures&equip. Maintenancematerials Sundry 5, , , Toproperlyreclasifycapitalasetspurchasedasreimbursementsfrom theciapprogram (5)Replacementofnonexp,equip.6, Procedsfromnonexp,eq.sold1,042.0 Property-contra 7, TOadjustnewvehiclepurchasestoactual (6)Casualtyloses-noncapital. Deferedcharges Contractcosts Rentalincome Deferedcredits Electricity Maintenancematerials 85, , Toproperlyclasifyrepairsmadeandinsuranceprocedsreceived forfire-damagedunits. 30

26 HOUSINGAUTHORITYOFTHE SCHEDULEOFADJUSTINGJOURNALENTRIES(CONTINUED) VilePlate,CITYOFVILEPLATE Louisiana June30,196 Act.No. foraudit Pu/'posesDescription Debit Credit Act.No. forpha )Prepaidinsurance $1, Boks qbadjustprepaidinsurancetoactual. Insurancexpense $1, )Insurance Employebenefits 2, Toreclasifypaymentforworker'scompinsurance. 2,16.23 N/AN/A (9)Employebenefits FICApayable Federalwitholdingpayable 3, , ~badjustpayroltaxespayabletoactualatyearend. 2, (10)Cumulative}KJDgrants Otherincome qbadjustforpostingerorinrecordingciaptransfer (1)Extraordinarymaintenance Contractcosts 1, , ~reclasifyutilitysurveycosts. N/AN/A (12)Interestonbends Bondsretired Debtservicefunds CumulativeHUDcontr. 39, , Torecordebtserviceactivityforfiscalyear (13)Replacementofequipment Land,structures&equip. Maintenancematerials Property-contra 76, , I~properlycapitalizequipmentpurchases. 2,

27 neverthelesocurandnotbedetected.also,projection ofthestructuretofutureperiodsisubjectotherisk maybecomeinadequatebecauseofchangesinconditionsor ofanyevaluation efectivenesofthedesignandoperationofpoliciesand thatprocedures deteriorate. thathe proceduresmay Forthepurposeofthisreport,wehaveclasifiedthesignificantinternal controlstructurepoliciesandproceduresinthefolowingcategories: cashreceipts,cashdisbursements,andreporting. Foraloftheinternalcontrolstructurecategorieslistedabove,we obtainedanunderstandingofthedesignofrelevantpoliciesandprocedures andwhethertheyhavebenplacedinoperation,andweasesedcontrol risk. Weperformedtestsofcontrols,asrequiredbytheGuide,toevaluate thefectivenesofthedesignandoperationofinternalcontrolstructure policiesandproceduresthatweconsideredrelevantopreventingor,detectingn~teria]noncompliancewithspecificrequirementsaplicable tothevileplatehousingauthority'shud-asistedprograms.our procedureswerelesinscopethanwouldbenecesarytorenderanopinion oninternalcontrolstructurepolicyandprocedures.acordingly,we donotexpresuchanopinion. Ourconsiderationoftheinternalcontrolstructurewouldnotnecesarily disclosealmatersintheinternalcontrolstructurethatmightbe materialweaknesesunderstandardsestablishedbytheamericaninstitute ofcertifiedpublicacountants.amaterialweaknesisareportable conditioninwhichthedesignoroperationofoneormoreoftheinternal controlstructurelementsdoesnotreducetoarelativelylowlevelthe riskthaterorsoriregularitiesinamountsthatwouldbematerialin relationtothefinancialstatementsbeingauditedorthatnoncompliance withlawsandregulationsthatwouldbematerialtoahud-asistedprogram mayocurandnotbedetectedwithinatimelyperiodbyemployesinthe normalcourseofperformingtheirasignedfunctions.wenotednomaters involvingtheinternalcontrolstructureanditsoperationthatweconsider tobematerialweaknesesasdefinc~above. Thisreport management, thisreport limited. isintendedfortheinformationoftheboardofcomisioners, andthedepartmentofhousingandurbandevelopment.however, isamaterofpublicrecordanditsdistributionisnot Opelousas,Louisiana RICHARDC.URBAN,C.P.A. October17,196 3

28 CERTIFIEDPUBLICACOUNTANT RICHARDC.URBAN MI:ML3~k AMLRICANINS1I]UTEOF SOCIE]YorLOJlSIANA (ZIZR1IFlEDP[IBLICACOUN]AN1S (ERTIFIFDPU[~ICACOUNIANTS OPELOUSA5,LOUISIANA HEATItERDRIVE OFICE: PHONE(318)942.?154 I~oardofComisioners HousingAuthorityofVilePlate VilePlate,Louisiana DepartmentofHousingand Neworleans,Louisiana UrbanDevelopment INDEPENDENTAUDITOR'SREPORT WehaveauditedthefinancialstatementsoftheHousingAuthorityofthe CityofVilePlate,Louisiana,fortheyearendedJune30,196,and haveisuedoureporthereondatedoctober17,196.inadition,we haveauditedthecityofvileplatehousingauthority'scompliancewith thespecificprogramrequirementsgoverningtypesofservicealowedor unalowed;eligibility;matching,levelofefort,orearmarking; reporting;claimsforadvancesandreimbursements;constructioncontracts prohibitingtheuseoflead-basepaints;procurementactionsandamounts claimedorusedformatchingthatareaplicabletoeachofitsmajor I{UD-asistedprograms,fortheyearendedJune30,196.Themanagement ofthehousingauthorityofthecityofvileplate,louisiana,is responsibleforthehousingauthority'scompliancewiththeserequirements. Ourresponsibilityistoexpresanopiniononcompliancewiththose requirementsbasedonouraudit. Weconductedinacordancewithgeneralaceptedauditingstandards, GovernmentAuditingStandards,isuedbytheComptrolerGeneralofthe UnitedStates,andtheConsolidatedAuditGuideforAuditsofHUD-asisted Programs(the"Guide"),isuedbytheU.S.DepartmentofHousingandUrban Pevelopment,OficeofInspectorGeneralinJuly193.Thosestandards andtheguiderequirethatweplanandperformtheauditobtain reasonab]easuranceaboutwhethermaterialnoncompliancewiththe requirementsreferedtoaboveocured.anauditincludesexamining, onatestbasis,evidenceabouthehousingauthority'scompliancewith thoserequirements.webelievethatourauditprovidesareasonablebasis forouropinion. Inouropinion,theHousingAuthorityoftheCityofVilePlate, ]~)uisiana,complied,inalmaterialrespects,withtherequirements describedabovethatareaplicabletoeachofitshud-asistedprograms fortheyearendedjune30,196.

29 HOUSINGAUTHORITYOFTHECITYOFVILE REVENUEANDEXPENDITURF~-PHAOWNEDHOUSING VilePlate,Louisiana YearEndedJune30,196 Anual Dwelingrental Excesutilities 286, Interestongeneralfundinvestments 352, , Dtherincome 6,01.48 Totaloperatingincome 382, OPERATINGEXPENDITURES Administration TenantServices Utilities Ordinarymaintenanceandoperation Protectiveservices Extraordinarymaintenance Generalexpenses Totaloperatingexpenditures Netoperatinglos ,03.37) Prioryearadj.af.residualreceipts Losonsaleofnonexpendablequipment Interestonbonds 12, ,39.68) Totalothercharges(credits) Netlos 253,650.4) Senotestofinancialstatements. 24

30 HOUSINGAUTHORITYOFTHECITYOFVILEPLATE FINDINGS,REO0594~DATIONSANDREPLIES VilePlate,Louisiana ThefolowingitemswerediscusedwithExecutiveDirectorPaulOrtego atanexitconferenceonoctober17,196,andhisresponsestour re~ndationsareincluded. UNSECUREDEPOSITS AtJune30,196,thePHAhad$4,942.23ofitsdepositsunsecuredbyits fiscalag~tbank.folowingourrecon~endationofobtainingapledge ofsecuritiestosecurethesedeposits,onoctober17,196thepha receivedapledgeofsecuritiesfromitsfiscalagentbanktoadequately insureitsdeposits.althoughthisfindingapearstoberesolved,until October17,196,thePHAwasinviolationofLouisianalawregarding theinsurabilityofitsdeposits. BUDGETOVERUNSINCONTROLABLECATEGORIES ThePHAisconsideredtobea"highperforming"HousingAuthoritybyHUD, andasuchisnotrequiredtobtainhudaprovalforbudgetrevisions. However,thePHAviolatedLouisianalawbyexcedingitsaprovedbudget plusanyrevisionsbymorethe5%inthefolowingareas:acounting, maintenancematerials,employebenefits,andreplacementofequipment. Aditionaly,thePHAexpendedfundsthatwerenotbudgetedatalfor administrativetraining,tenantservicestraining,andcolectionloses. WerecomendthathePHApreparebudgetrevisionswheneveritsactual expendituresaregoingtoexceditsbudget.thiswilplacethemin compliancewithlouisianalaw. TheExecutiveDirectorinformedusthathewilinformthefeacountant tomonitorthebudgetmorecloselyandtoprepareanybudgetrevisions whenecesary.~]eserevisions,althoughnotrequiredtobesento ]TOD,wilbeavailablein-houseforeview. 42

31 HOUSINGAUTHORITYOFT}~CITYOFVILE VilePlate,Louisiana YearEndedJune30,196 STA~ OFSURPLUS Anualf~ntributionsContractFW-I179 UNRESERVEDSURPLUS BalanceperauditatJune30,195 NetlosatJune30,196 Provisionforoperatingreserve,June30,196 $(5,125,509.3) 253,650.4) BalanceatJune30,196 5,39,747.7) 20,58.0) ]~ESERVEDSURPLUS-OPERATINGRESERVE BalanceperauditatJune30,195 Provisionforoperatingreserve,June30, , BalanceatJune30, , C72~ULATIVEHUDCOhYDRIBUTIONS BalanceperauditatJune30,195 Acruinganualcontribution,June30,196 1,097,84.85 Operatingsubsidy,June30,196 ComprehensiveGrantProgramfunds-fiscal yearendedjune30, , ,717.0 BalanceatJune30,196 1,606, TOTALSURPLUS 6,428, Senotestofinancialstatements. 25

32 L~Id Buildings Equipment Co~structionin NOPES10FINANCIALSTAT[~4ENTS(continued} $492, ,016 progres: Modernizationcosts Total 6,73,306 $- 38, , ,163 =~= $- 19,86'% 19,861 = $492, , ,527 7,04,608 TheauthorityparticipatesintheHousing-RenewalandLocalAgencyRetirementPlan whichisadefinedcontributionplan.theplanconsistsofemployesofvarious localandregionalhousingauthorities,urbanrenewalagencies,andothersimilar organizations.throughtheplan,theauthorityprovidespensionbenefitsforal ful-timemployes.aleligibleindividualsmustbemployedforatleastsix monthsbeforeparticipatingintheplan.theauthorityhasevenemployes participatingasofjune30,196. Underadefinedcontributionplan,benefitsdependsolelyonamountscontributed totheplanandinvestmentearnings.benefitsoftheplanarefundedbyemploye andemployercontributions.participantsintheplanarerequiredtomakeamonthly contributionto5.5percentoftheirbasicompensation.theauthoritymakesa monthlycontributionequalto5.5percentofeachparticipant'sbasicompensation. Themployercontributionsandearningsalocatedtoeachparticipant'sacount arefulyvestedafteroneyearofcontinuouservice. Theauthority'stotalpayrolforthefiscalyearendedJune30,196,was$169,209. Theauthority'scontributionsweremadebasedonthetotalcoveredpayrolof $14,97.Theauthorityandthecoveredemployesmadetherequiredcontributions fortheyearendedjune30,196.themployecontributionstotaled$7,975while theauthority'scontributionstotaled$7,975fortheyearendedjune30,196. NOTE7-AfX)UNTS,SALARIES,AS~)OTHERPAYABLES Thepayablesof$2,623atJune30,196,areasfolows: GeneralFund Paym~tsinlieuoftaxes Witholdings Acounts Total Amount DeferedrevenueconsistsofthefolowingasofJune30,196: Generalfund:Insuranceprocedsforfire-damagedunits$85,648 18

33 26 HOUSINGAUTHORITYOFq~HE C~MPUTATIONOFRESIDUALRECEIPTSANDACRUING VilePlate,CITYOFVILEPLATI~E Louisiana ANUALCONTRIBUTIONS-PHAOWNEDHOUSING YearEndedJune30,196 AnualContributionsContractFW-179 Operatingincome ratinqreceipts Prioryearadjustmentsafectingresidualreceipts HUDoperatingsubsidy 382,12.82 Totaloperatingreceipts 179, , , OperatinqExpenditures Operatingexpenditures Replacementofnon-expendablequipment 587, Residualreceipts Totaloperatingexpenditures 625, Auditadjustments(deficit)peraudit adedback 60,613.50) Provisionforoperatingreserve Residualreceipts(deficit) (20,58.0) 20, ) (3[~MPUTATIONOFAOCRUINGONTRIBI/I~ON FixedAnualContribution AcruingAnualContribution 76,717.0

34 NOTESTOFINANCIALSTATEMENTS(continued) NOTE9-CHANGESINAGENCYFUND/DEI~gSITSDUEOTHERS Astm~naryofchangesinagencyfundepositsdueothersfolows: Balanceat Begining ofyear Aditions Balance atend DeletionsofYear Agencyfund: Tenantsecurity deposits $18,63 $3,860$2,258$20,265 NOTE10-CHANGESINGENERALONG-TERMOBLIGATIONS Thefolowingisasumaryofthelong-termobligationtransactionsfortheyear endedj~]e30,196: Long-termobligationsatJune30,195 Aditions Deductions Long-termobligationsatJune30,196 BondedDebt $79,543 (37,12) 762,431 AlauthoritybondsoutstandingatJune30,196,intheamountof$762,431,are singleisuebondswithmaturitiesfrom206to201andinterestratesfrom3.625% to5%.bondprincipalandinterestpayableinthenextfiscalyearare$41,121 and$36,38,respectively.theindividualisuesareasfolows: Bond Isues Singleisue Singleisue Totalbonds Final OriginalInterestPayment IsueBates Due $971,5145% 375r03.625% 1,346,514 Interest to Maturity 6/I/201$I',204,502 6/I/206351,208 1,5,710 Principal Outstanding June $609,43 16,98 762,431 AlprincipalandinterestrequirementsarefundedinacordancewithFederalLaw bytheanualcontributionscontractfromhud.atjune30,196,theauthority hasacumulated$3,208inthedebtservicefundsforfuturedebtrequirements. Thebondsaredueasfolows: FiscalYear Ending6/ Principal Payments $41,121 41,683 45, ,847 Interest ~nts $36,38 3,98 32, , Totals

35

36 RICHARDC,URBAN ('FRTIFIFDPUBLICACOUNTANT OFICE; MEMBER: AhAERICANINS]ITUTEOF 137HEATHERDRIVE CERTIFIEDpUBLICACOUN]ANT5 OPELOUSAS,LOUISIANA OCIE~OFLOUISIANA PHONE(318)942-2&54 CERTIFIEDPUBLICACOUNTANTS ~DardofComlsioners DepartmentofHousingand HousingAuthorityofVilePlate UrbanDevelopment VilePlate,Louisiana NewOrleans,Louisiana INDEPEND]~TAUDITOR'SREPORT WehaveauditedthegeneralpurposefinancialstatementsoftheHousing AuthorityoftheCityofVilePlate,]xguisiana,fortheyearendedJune 30,196,andhaveisuedoureporthereondatedOctober17,196. WehaveapliedprocedurestotestheHousingAuthorityoftheCityof VilePlate,Louisiana,compliancewiththefolowingrequirements aplicabletoitsmajorhud-asistedprograms,whichareidentifiedin thescheduleofederalfinancialasistance,fortheyearendedjune!30,195:politicalactivity,davis-baconact,civilrights,cash management,relocationasistanceandrealpropertyacquisition,federal financialreports,alowablecosts/costprinciples,drug-freworkplace Act,andadalinistrativerequirements. Ourprocedureswerelimitedtotheaplicableproceduresdescribedin th,~,ofic~.~fmanaoejn~_ntandbudqet'scompliancesuplementforsingle AuditsofStateandLocalGovernments.Ourproceduresweresubstantialy lesinscopethananaudit,theobjectiveofwhichisthexpreszon ofanopiniononthehousingauthorityofthecityofvileplate, ]~ouisiana,compliancewiththerequirementslistedinthepreceding paragraph.acordingly,wedonotexpresuchanopinion. Withrespectotheitemstested,theresultsofthoseproceduresdisclosed nomaterialinstancesofnoncompliancewiththerequirementslistedin thesecondparagraphofthisreport.withrespectoitemsnotested, nothingcametouratentionthatcausedustobelievethathehousing AuthorityoftheCityofVilePlate,Louisiana,hadnotcomplied,in almaterialrespects,withthoserequirements. ThisreportisintendedfortheinformationoftheBoardofComisioners, inanagement,andthedepartmentofhousingandurbandevelopment.however, thisreportisamaterofpublicrecordanditsdistributionisnot limited. ~,/Uq,./(,~,{.~/~ RICHARDC.URBAN,C.P.A. Opelousas,Louisiana October17,196 36

37 RICHARDC.URBAN MEMBLR: AMERICANINS[ITU1EOF CER7IFIEDPUBLICACOUNTANTS SOCIETYOFLOUISIANA CERTIFIEDPUBLICACOUNTANTS CERTIFIEDPUBLICACOUNTANT BoardofComisioners HousingAuthorityofVilePlate VilePlate,Louisiana OFICE; 137HEATHERDR~VE OPELOUSAS,LOUISIANA70570 PIONE(318)942-~154 DepartmentofHousingand UrbanDevelopment NewOrleans,Louisiana WehaveauditedthegeneralpurposefinancialstatementsoftheHousing AuthorityoftheCityofvilePlate,I~ouisiana,fortheyearendedJune 130,196,andhaveisuedoureporthereondatedOctober17,196. Inconectionwithourauditofthegeneralpurposefinancialstatements ofthehousingauthorityofthecityofvileplate,louisiana,andwith ourconsiderationofthehousingauthority'sinternalcontrolstructure usedtoa~ninisterhud-asistedprograms,asrequiredbytheconsolidated AuditGuideforAuditsofHUDPrograms(the"Guide")isuedbytheU. ;3.Depart~ntofHousingandUrbanDevelopmentinJuly193,weselected certaintransactionsaplicabletocertainon-majorhud-asistedprograms fortheyearendedjune30,196. AsrequiredbytheGuide,weperformedauditingprocedurestotest compliancewiththerequirementsgoverningtypesofservicesalowedor unalowed,eligibility,andanyspecialprovisionsthatareaplicable tothosetransactions.ourproceduresweresubstantialylesinscope thananaudit,theobjectiveofwhichisthexpresionofanopinion onthehousingauthorityofthecityofvileplate,louisiana,compliance withtheserequirements.acordingly,wedonotexpresuchanopinion. Withrespectotheitemstested,theresultsofthoseproceduresdisclosed :nomaterialinstancesofnoncompliancewiththerequirementslistedin thesecondparagraphofthisreport.withrespectoitemsnotested, :nothingcametouratentionthatcausedustobelievethathehousing AuthorityoftheCityofVilePlate,Louisiana,hadnotcomplied,in almaterialrespects,withthoserequirements. Thisreport management, thisreport limited. isintendedfortheinformationoftheboardofcomisioners, andthedepartmentofhousingandurbandevelopment.however, isamaterofpublicrecordanditsdistributionisnot Opelousas,Louisiana October17, RICHARDC.URBAN,C.P.A.

38 AuthorityoftheCityofVilePlate,Louisiana,fortheyearendedJune 30,196,andhaveisuedoureporthereondatedOctober17,196. WehaveapliedprocedurestotestheHousingAuthorityoftheCityof VilePlate,Louisiana,compliancewiththeAfirmativeFairHousing requirementsaplicabletoitshud-asistedprogramsfortheyearended June30,196. Ourprocedureswerelimitedtotheaplicablecompliancerequirements describedbytheconsolidatedauditguideforauditsofhudprogramsisued bytheu.s.departmentofhousingandurbandevelopment,oficeof InspectorGeneralinJuly193.Ourproceduresweresubstantialyles inscopethananaudit,theobjectiveofwhichisthexpresionofan opiniononthehousingauthorityofthecityofvileplate,louisiana, compliancewiththeafirmativefairhousingrequirements.acordingly, wedonotexpresuchanopinion. withrespectotheitemstested,theresultsofthoseproceduresdisclosed nomateriali~istancesofnoncompliancewiththeafirmativefairhousing requirements.withrespectoitemsnotested,nothingcametour atenti~]thatcausedustobelievethathehousingauthorityofthe CityofVilePlate,Louisiana,hasnotcomplied,inalmaterial respects,withthoserequirements. ThisreportisintendedfortheinformationoftheBoardofCo~nisioners, management:,andthedepartmentofhousingandurbandevelopment.however, thisreportisamaterofpublicrecordanditsdistributionisnot limited. Opelousas,Louisi~]a RICHARDC.URBAN,C.P.A. /ut~-",~ V/, October17,196

39 TheHousingAuthority fromitsfiscalagent oflouisianalaw.on fromthefiscalagent failedtobtainanadequatepledgeofsecurities banktosecureitsdeposits.thisisaviolation October17,196,apledgeofsecuritieswasreceived TheHousingAuthorityexcededitsbudgetbyover5%inseveral banktoadequatelysecurethesedeposits. controlablecategories.thisisaviolationoflouisianalaw.the expendituresapeartohavebenforeasonableandnecesaryoperating expensesofthehousingauthority. 39

40 Weconsideredthesematerialinstancesofnoncomplianceinformingour opiniononwhetherthejune30,196generalpurposefinancialstatements arepresentedfairly,inalmaterialrespects,inconformitywith generalyaceptedacountingprinciples,andthisreportdoesnotafect ourreportdatedoctober17,196onthosegeneralpurposefinancial Exceptasdescribedabove,theresultsofourtestsofcomplianceindicate statements. that,withrespectotheitemstested,thehousingauthorityofthecity ofvileplate,louisiana,complied,inalmaterialrespects,withthe provisionsreferedtointhethirdparagraphofthisreport,andwith respectoitemsnotested,nothingcametouratentionthatcaused ustobelievethathehousingauthorityhadnotcomplied,inalmaterial ThisreportisintendedfortheinformationoftheBoardofComisionerș respects,withthoseprovisions. :management,andthedepartmentofhousingandurbandevelopment.however, thisreportisamaterofpublicrecordanditsdistributionisnot limited. Opelousas,Louisiana RICHARDC.URBAN,C.P.A. October17,196 40

41 HOUSINGAUTHORITYOFTHECITYOFVILE VilePlate,Louisiana BALANCESHET June30,196 AnualContributionsContractFW-179 Cash ASETS Acountsreceivable Debtamortizationfunds Investments Deferedcharges Maintenancework-in-progres Land,structuresandequipment TotalAsets 7,319, Acountspayable LIABILITIESANDSURPLUS Deferedcredits Acruedliabilities Fixedliabilities Surplus Totaliabilities 890,96.65 Totaliabilitiesandsurplus 6,428, ,319, Senotestofinancialstatements. 23

42 HOUSINGAUTHORITYOFTHE SCHEDULEOFEDERALFINANC/ALASISTANCE VilePlate,CITYOFVILEPLATI~E Louisiana YearEndedJune30,196 Federal ProgramGrantor/ U.S.Dept.ofHousingand Title CFDANo.IDNo. Grant GrantAmount Received Expenditures Program UrbanDevelopment ]DirectPrograms: Modernization: Low-IncomeHAP TotalU.S.Dept.ofHousing ProgramYear FW-179 FW-179 $256,40.0$256, , ,470.0 Totalfederalasistance andurbandevelopment , , ,870.0 FederalfundsonhandatJune30,195 Grantamountsreceived Pro~ramexpenditures -0- FederalfundsonhandatJune30, ,870.0) TheDepartmentofHousingandUrbanDevelopmenthasguarantesthroughthe AnualContributionContractheHousingAuthorityoftheCityofVilePlate, atjune30,196. Louisiana,bondedindebtednes.Thisbondedindebtedneswas$762,

43 RICHARDC.URBAN CERTIFIEDPUBLIC,ACOUNTANT MEMBER: AMERICANINS]I]UlEOF CI:R]IFIF:DPUB[ICACOUNTANTS SOCIETYOfL()UISIANA CERTIFIEDPUBLICACOUNTANTS BoardofCorsnisioners HousingAuthorityofVilePlate VilePlate,Louisiana OFICE: 137HEATHERDRIVE OPELOUSAS,LOUISIANA?05?0 PHONE(318) DepartmentofHousingand UrbanOevelopement NewOrleans,Louisiana IND}~]~qDENTAUDITOR'sRE~ ONFEI)ERAL~ A~ISTANCE WehaveauditedthegeneralpurposefinancialstatementsoftheHousing AuthorityoftheCityofVilePlate,Louisiana,fortheyearendedJune 30,196,andhaveisuedoureporthereondatedOctober17,196.These generalpur[~sefinancialstatementsaretheresponsibilityofthemanagement ofthehousingauthorityofthecityofvileplate,louisiana.our responsibilityistoexpresanopiniononthesegeneralpurposefinancial statementsbasedonouraudit. Weconductedourauditinacordancewithgeneralyaceptedauditingstandardsand GovernmentAuditingStandards,isuedbytheComptrolerGeneraloftheUnitedStates andtheconsolidatedauditguideforauditsofhudprogramsisuedbytheu.s. DepartmentofHousingandUrbanDevelopment,OficeoftheInspectorGeneralinJuly 193.Thosestandardsandtheguiderequirethatweplanandperformtheaudito obtainreasonableasuranceaboutwhetherthegeneralpurposefinancialstatements arefreofmaterialmistatement.anauditincludesexamining,onatestbasis, evidencesuportingtheaduntsandisclosuresinthegeneralpurposefinancial statements.anauditalsoincludesasesingtheacountingprinciplesusedand significantestimatesmadebymanagement,aswelasevaluatingtheoveralfinancial statementpresentation.webelievethatourauditprovidesareasonablebasisfor ouropinion. Ourauditwasmadeforthepurposeoforminganopiniononthegeneralpurpose financialstatementsofthehousingauthorityofthecityofvileplate,louisiana, takenasawhole.theacompanyingscheduleofederalfinancialasistanceis presentedforpurposesofaditionalanalysisandisnotarequiredpartofthegeneral purposefinancialstatements.theinformationinthatschedulehasbensubjected totheauditingproceduresapliedintheauditofthegeneralpurposefinancial statementand,inouropinion,isfairlypresentedinalmaterialrespectsinrelation tothegeneralpurposefinancialstatementstakenasawhole. / RICHARDC.URBAN,C.P.A. Opelousas,Louisiana October17,196 21

44