CA LD W ELL PA RISH PO LICE JU RY Colum bia,louisiana

Transcription

1

2 CA LD W ELL PA RISH PO LICE JU RY Prim ary G overnm entfinancialstatem ents W ith IndependentA uditor's Report A sof and for the YearEnded D ecem ber 31,2003 W ith Supplem entalinform ation Schedules C O N T E N T S Statem ent Page N o. Independent A uditor'sr eport 3 Prim ary G overnm entfinancialstatem ents: Com bined Balance Sheet-A llfund Typesand A ccountg roups A 6 G overnm enta lfund Type: Com bined Sta tem entof Revenues,Expenditures and C hanges in Fund Balances B 7 Com bined Sta tem entof Revenues,Expenditu res, and Chan gesin Fund Balances-Budget(GAAP Basis)and Actual-Generaland Special Revenue Funds(Excluding CriminalCourtSpecial Revenue Fund) N otesto th e Fin an cialsta tem ents C 9 11 Supplem enta linform ation Schedules: Schedule Page N o. SpecialRevenue Fun ds: Com bining Balance Sheet Com bining Schedule of Revenues,Expenditures and Changesin Fund Balances

3 CA LD W ELL PA RISH PO LICE JU RY Contents,D ecem ber 31,2003 Supplem entalinform ation Schedules:(Contd.) SpecialRevenue Funds:(Contd.) M aintenance Funds: Com bining Balance Sheet C om bining Schedule of Revenues,Expenditures and C han ges in Fund Balances D ebtservice Funds: Com bining Balance Sheet Com bining Schedule of Revenues,Expenditures and Changes in Fund Balances CapitalProjectsFunds: C om bining Balance Sheet C om bining Schedule of Revenues,Expenditures and Changesin Fund Balances Schedule of Com pensation Paid Police Jurors Independent A uditor's ReportsRequired by Governm entauditing IndependentA uditor'sreporton C om pliance and Internal ControlO ver FinancialReporting Schedule of Findingsand Questioned Costs Sum m ary Schedule of Prior A uditfindin gs

4 ERNONER OON~ C ~TIPI ~pilllicaccountant IndependentAuditor's R eport M EMBER AMERICAN ~NSTITUTE OFCERTIFIED PUBLIC ACCOUNTANTS SOCIETY OFLOUISIANA CERTIFIED PUBLIC ACCOUNTANTS PRACTICE LIMITED TO GOVERNMENTAL ACCOUNTING,A UDITING AND FINANCIALREPORTING CALD W ELL PARISH PO LICE JU RY Ihave audited the prim ary governm entf'm ancialstatem entsof the C aldw ellparish Police Jury,asof D ecem ber 31,2003,and for th e year then ended,aslisted in th e table of contents. These prim ary governm ent f'm ancial statem ents are th e responsibility of th e CaldwellParish Police Jury'sm anagem ent.m y responsibility isto expressan opinion on th ese prim ary governm entfinancialstatem entsbased on m y audit. I conducted m y audit in accordan ce w ith U.S. generally accepted auditing sta ndardsand Governm entauditing Standards,issued by th e Com ptroller G eneral of the U nited Sta tes. Those standardsrequire thatiplan and perform the auditto obta in reasona ble assurance about w heth er th e prim ary governm ent fin ancial sta tem entsare free of m aterialm issta tem ent. A n auditincludesexam ining,on a test basis, evidence supporting the am ounts and disclosures in the prim ary governm entf'm ancialsta tem ents. A n auditalso includesassessing the accounting prin ciples used an d signi ficant estim ates m ade by m anagem ent, as w ell as evaluating th e overallfin ancial sta tem entpresenta tion. I believe thatm y audit provides a reasonable basis for m y opini on. 477 HIGUWAY 847, COLUMBIA, LOUISIANA TELEPHONE FAX ~ oon~ ol.~m A prim ary governm entis a legalentity orbody politic and includes allfunds, organizations,institutions,agencies,departm ents,and officesth atare notlegally separ ate. Such legally separ ate entitiesar e referred to ascom ponentunits. In m y opini on,the prim ary governm entfinancialsta tem entspresentfairly,in allm aterial respects,th e f'm ancialposition of th e prim ary governm ent of Caldw ell Parish Police Jur y,asof D ecem ber 31,2003,and th e resultsof itsoperationsfor the year then ended,in conform ity with U.S.generally accepted accounting principles.

5 CA LD W ELL PA R/SH PO LICE JURY IndependentA uditor's Report, D ecem ber 31,2003 H ow ever,the prim ary governm entfin ancialstatem ents,because they do notinclude th e financialdata of com ponentunitsof the CaldwellParish Police Jury,do notpurportto,and do not,presentfairly th e financialposition of th e Caldw ellparish Police Jury atd ecem ber 31,2003,and th e resultsof its operationsfor the year th en ended in conform ity with U.S.generally accepted accounting prin ciples. M y auditw as m ade for th e purpose of form ing an opini on on the prim ary governm entfinancial statem entstaken asa w hole. The supplem enta linform ation scheduleslisted in th e table of contents ar e presented for th e purp ose of additional an alysis and are not a required part of the prim ary governm ent fin ancial statem ents of th e Caldw ellparish Police Jury. Such inf orm ation has been subjected to the auditing procedures applied in the auditofthe prim ary governmentfinancial sta tem entsand,in m y opinion,isfairly presented in allm aterialrespectsin relation to the prim ary governm entfina ncialstatem entstaken asa w hole. In accordance w ith Governm entauditing Standards,Ihave also issued a reportdated June 25,2004, on m y consideration of the Caldw ellparish Police Jury'sin ternalcontrolover financialreporting an d m y tests of its com pliance w ith certain provisions of law s,regulations,contracts and grants. That report isan integralpart of an auditperform ed in accordan ce w ith Governm entauditing Standards and should be read in conjunction with thisreport in considering the resultsofmy audit. June 25,2004

6 PR IM AR Y G O VERNM EN T FIN AN CIA L STA TEM EN TS (OVERVm VO -5-

7 ,it ~ = ~ k J ~

8 CA LDW ELL PARISH POLICE JURY GOVERNM ENTAL FUN D TYPE Statem entb Com bined Statem entof Revenues,Expenditures and Changesin Fund Balances For the Year Ended Decem ber 31,2003 SPECIAL DEBT CAPITAL TOTAL GENERAL REVENUE SERVICE PROJECTS (MEM ORANDUM FUND FUNDS FUNDS FUNDS ONLY) REVENUES Taxes: Ad valorem taxes Salesan d use taxes Othertaxes,penalties,and interest Licensesand perm its Intergovernm entalrevenues: Federalfunds-federalgran ts Sta te funds: Parish transportation funds Staterevenuesharing (net) Severance taxes Bayou D echene O th erstate funds Fees,charges,and com m issions forservices Fin esand forfeitures U se of m oney and property O therrevenues Totalrevenues $203, ,121 15,270 87,536 79,030 12, ,663 77,094 3,368 30, $800,722 1,097,787 2,694 84,768 $106, ,531 54, ,817 $96, , ,663 51,240 31,709 2,592,334 1,004,378 $1,004,209 1,277,908 17,964 87, , ,531 67, , , , ,663 7,026 88, EX PEND ITU RE S Current: Generalgovernm ent: Legislative 87,871 Judicial 71,081 Executive 114,388 Elections 37,645 Finance and adm inistrative 46,626 O ther generalgovernm ent 267,155 Public safety 162,156 Public w orks 46,410 H ealth an d w elfare 43,732 Culture and recreation Econom ic developm entand assista nce 79, ,019 39,820 65, ,833 1,597,269 29, ,325 29,535 1,005,791 87, , ,388 37,645 86, , ,989 1,643,679 72, ,325 1,115,271 (Continued) - 7-

9 C A LD W ELL PA RISH PO LICE JUR Y G OV ERN M EN TAL FU N D TYPE C om bined Statem entof Revenues,Expenditures and Changesin Fund Balances,etc. Statem entb SPECIA L DEBT CAPITAL TOTAL GENERA L REVENUE SERVICE PROJECTS (MEMORANDUM FUND FUN DS FU ND S FUN DS ONLY) EXPEND ITUR ES (CONTD.) Current:(Contd.) Transportation D ebtservice: Principal Interest Capitaloutlay Totalexpenditu res $23,829 17,000 4,050 42,623 $75, $27o,ooo 19,o $66r $23, ,000 23, EX CESS O F RE VENUES O VE R EX PEND ITURES (68,248) OTHER FINANCING SOURCES (Uses) Insurance recovery Operating transfersin Operating transfersout Totalotherfinancing sources(uses) 610. (60,000) (59,390) 685,163 (625,163) N ONE N ON E ,163 (685,163) 610 EXCESS O F RE VE N UES AND O THER SO UR CES O VE R EXPEND ITURES AND OTHER USES (127,638) 302,474 (185,943) (1,413) (12,520) FUND BA LAN CES AT BEGINN IN G O F YEA R FUND BALANCES AT END OF YEAR $1,020,117 $3,451,677 $241,337 NONE $4,713,131 (Concluded) The accom panying notes are an integralpartof thisstatem ent - 8-

10 CALDW ELL PARISH POLICE JURY Columbia,Louisiana GOVERN M EN TA L FUND TYPE -GEN ERA L AND SPECIAL REVENUE FUNDS (Excluding CriminalCourtSpecialRevenue Fund) Statem entc Com bined Statem entofrevenues,expenditures an d Chan gesin Fund Balances-Budget (GAAP Basis)an d Actual Forth e Year Ended December31,2003 GENERAL FUND VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE)...SPECIAL REVENUE FUNDS... VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) $185, ,000 $203, $17, $708, $800,722 1,097,787 $92, ,056 89,000 15,270 87,536 3,214 (1,464) ,694 3 State funds: Parish transportation funds State revenuesharing (neo Severance taxes Other state funds Localfunds Fees,charges,and com m issions for services Finesand forfeitures Use of m oney and property Otherrevenues Totalrevenues EXPEND ITURES Current: G eneralgovernm ent: Legislative Judicial Executive Elections Finan ce an d adm inistrative Oth ergeneralgovernm ent Public safety Public w orks Health and welfare Cultur e and recreation 84,176 79,030 12, ,842 36,585 12, ,663 77,094 (5,146) , ,190 3, ,906 30,656 (25O) 41, , ~ ,263 72,073 86,728 66, ,902 36,075 38, , ,551 43,750 37,854 87,871 71, ,388 37, , , ,156 46, (1,143) (4,424) (2,486) (1,570) (8,019) (4,715) (6,605) (2,660) (5,878) 84,768 84, ,819 54, ,531 54,565 (1,288) , ,817 (712) 102,608 3,031 47, ,838 2,806 51,240 9,230 (225) 4,039 40, (8,576) 2,368~ ,970 2,425 2, , ,013 1,592,105 28, , ,833 1,597,269 29, ,325 (259) 180 (5,164 ) (717) 3,026 (Continued) -9-

11 Statem ent C GENERAL FUND VARIANCE ACTUAL FAVORABLE (UNFAVORABLE)...SPECIAL REVEN UE FUND S... VARIANCE FAVORABLE BUDGET ACTUAL. (UNFAVORABLE) $79, ($3,038) $32,918 $29,535 $3, ,000 4,050 42~623 1,044~511 OVER EXPENDITURES (99,930) (68~248) , ,080 OTHER FINAN CING SOURCES (Uses) Insurance recovery Operating transferin Operatin g transfersout Totalother financin g sources(uses) (60,000) (60,000) 625, , ,000) (625,163) (163) NON E NO NE NON E EXCESS (Deficiency)OF REVENUES AND O THER SOUR CES OVE R EXPENDITURES AND O THER USES (159,320) (127,638) 31, , ,162 90,080 FUND BALAN CES AT BEG INNING OF YEAR ,490 FUND BALAN CES AT END OF YEAR $655,498 $ $364~619 $2~489,359 $3,472T929 $ (Concluded) The accom panying notes are an in tegralpartof this statem ent

12 CA LD W ELL PARISH PO LICE JUR Y N otesto the FinancialStatem ents A sof and for the Y earended D ecem ber 31, SUM M AR Y O F SIG N IFICAN T ACCO UNTING PO LICIES The Caldw ell Parish Police Jury isthe governing authority for CaldwellPar ish and is a political subdivision ofthestate oflouisiana.the police jury isgoverned by seven jurorsrepresenting the various districtswithin theparish.the jurorsserve four-year termswhich expire in January Louisiana Revised Statute 33:1236 givesthe police jury variouspowersin regulating and directing the affairsof th e par ish and itsinhabitants. The m ore notable of th ose are the powersto m ake regu lations for theirow n governm ent,to regu late the construction an d m aintenance of roadsand bridges,to regulate th e construction and m aintenan ce of drainage system s,to regulate th e sale of alcoholic beverages,and to provide for th e health and w elfare of th e poor,disadvanta ged,an d unem ployed in the parish. Funding to accom plish th ese tasksisprovided by ad valorem taxes,salestaxes,beer and alcoholic beverage perm its,sta te revenue sharin g,an d var ious oth er sta te an d federalgrants. In accomplishing itsobjectives,the police jury also hasthe authority to create specialdistricts (componentunits)within the parish. The districtsperform specialized functions,such asfire protection, w ater distribution,sew erage collection an d disposal,drainage control,library facilities,and health care facilities. A. REPO R TIN G EN TITY A sth e governing auth ority of th e parish,for reporting purposes,th e Caldw ell Parish Police Jury isthe f'mancialreporting entity forcaldwellparish.the f'ma ncial reporting entity cons istsof(a)the primary government(policejury),(b)organizationsforwhich the primary governm entisfinancially accountable,and (c)otherorganizationsforwhich the natu re and significance of th eir relationship with th e prim ary governm entare such thatexclusion w ould cause th e reportin g entity'sf'm ancialsta tem ents to be m isleading or incom plete. GovernmentalAccounting StandardsBoard (GASB)StatementNo.14 established criteria for determ ining w hich com ponentunits should be considered partof the C aldw ell Parish Police Jury for fm ancial reporting purposes. The basic criterion for including a potentialcom ponentunitw ith in th e reporting entity isfin ancialaccountability. The G A SB hassetforth criteria to be considered in determ ining financial accountability. Thiscriteria includes: 1. Appointing avoting ma jority ofan organization'sgoverning body,and a The ability ofthepolice jury to impose its wilon that organization and/or 11-

13 CAL D W ELL PARISH PO LICE JU RY Notesto the FinancialStatements(Continued) b The potentialfor the organization to provide specific financialbenefitsto or im pose specific financialburdens on the police jury. 2 Organizationsfor which the police jury does notappointa voting majority butare fiscaly dependenton the police jury. 3 Organizationsforwhi ch the reporting entity financialstatem ents would be m isleading if data of th e organization isnotincluded because of the nature or significance of th e relations hip. Based on the previouscriteria,the policejury hasdetermined thatthe folowing componentunitsar e partofthe reporting entity : Com oonentu nit Thirty-Seventh JudicialD istrictcrim inalcourt G ravity D rainage D istrict#1 Colum bia H eightsw aterw orksd istrict#1 EastColum bia W aterw orksd istrict Colum bia H eightssew erage D istrict Kelly W aterw orks D istrict Crossroad W ater System EastColum bia Sew erage D istrict Colum bia H eightsfire D istrict C olum bia Eastside Fire D istrict C aldw ellparish: Sheriff A ssessor Clerk of Court Library H ospitalservice D istrict#1 Housin g Auth ority A irportauth ority Fire Protection D istrict#1 Recreation D istrict Fiscal Y ear End D ecem ber 31 D ecem ber 31 D ecem ber 31 D ecem ber 31 D ecem ber 31 O ctober 31 D ecem ber 31 D ecem ber31 D ecem ber31 D ecem ber31 June 30 D ecem ber 31 D ecem ber 31 D ecem ber 31 D ecem ber 31 D ecem ber31 D ecem ber31 D ecem ber31 D ecem ber 31 Criteria U sed 2 & 3 l & 3 l & 3 l & 3 l & 3 l & 3 1 & 3 1 & 3 l & 3 l & 3 2 & 3 2 & 3 2 & 3 1 & 3 1 & 3 l & 3 1 & 3 1 & 3 1 & 3 The police jury haschosen to issue f'mancialstatements ofthe primary government (police jury )only;therefore,none ofthe previously listed componentunits,exceptas discussed in th e follow ing paragraph,are included in the accom panying prim ary governm ent financialsta tem ents

14 CALDW ELL PARISH POLICE JURY Notesto the FinancialStatements(Continued) These primary government(police jury)financialstatementsinclude allfunds,account groups,and organizationsforwhich the police jury maintainsthe accounting records.the organizationsforwhich the police jury maintainsthe accounting recordsareconsidered part ofthe primary government(police jury)and include the Caldwel Parish Library,the Caldw ellpar ish Recreation D istrict,and th e Thirty-Seventh JudicialD istrictcrim inalc ourt. G A SB Statem ent 14 provides for the issuance of prim ary governm ent fina ncial statem ents that are separate from th ose of th e reporting entity. H ow ever, the prim ary government's(police jury)financialstatementsarenotasubstitute forthereporting entity's fin ancialstatem ents. The accom panying prim ar y governm ent fina ncialstatem entshave been prepared in conform ity w ith generally accepted accounting principles as applied to governm entalunits. These fm ancialstatem ents ar e notin tended to and do notreporton th e reportin g entity in accordance with generally accepted accounting principles butrather are intended to reflectonly thefinancialstatementsoftheprimary government(police jury). Considered in th e determ in ation of com ponent unitsof th e reportin g entity were th e Caldw ellparish SchoolBoar d,th e D istricta ttorney and Judge for the Thirty-Seventh Judicial D istrict,th e Caldw eu Councilon A ging,and th e variousm unicipalitiesin th e parish. Itw as determ ined th atthese governm enta lentitiesare notcom ponentunitsof the Caldw ell Par ish Police Jury reporting entity because they have separately elected governing bodies,are legally separate,and are fiscally independent of the CaldwellParish Police Jury. B. FUND A C C O UN TIN G Thepolice jury usesfundsand accountgroupsto reporton itsfina ncialposition an d th e resultsof itsoperations.fund accounting isdesigned to dem ons trate legalcom pliance and to aid f'm ancial m anagem ent by segregatin g trans actions related to certain governm ent fu nctions or activities. A fund is a separate accounting entity with a self-balancing setof account s that com prisesitsassets,liabilities,fu nd equity,revenues,and expenditures. A n account group, on th e oth er han d,isa financialreporting device designed to provide accountability forcertain assetsan d liabilities(generalfixed assetsand generallong-term obligations)thatare not recorded in the "fu nds"because th ey do notdirectly affectnetexpendable available fina ncial resources. They are conce rned only w ith the m easurem entof fin ancialposition,notw ith th e m easurem entof resultsof operations. Funds are classified in to three categories;governm ental,proprieta ry,and fiduciary. Each category,in turn,isdivided into separate "fund types". G overnm ental fu ndsare used to account for a governm ent's general activities,w here the focus of attention is on th e providing of servicesto th e public asopposed to proprieta ry fu ndsw here th e focusof attention - 13-

15 CA LD W ELL PARISH POLICE JU RY Notesto the FinancialStatements(Continued) ison recovering th e costof providing servicesto th e public or oth er agenciesthrough service charges or user fees.fiduciary funds are used to accountfor assets held for others. The police jury'scurrentoperationsrequire the use ofgovernmentaland fiduciary funds.the fund typesused by the police jury are described asfolows: G overnm entalfunds: G eneralfund The GeneralFund isthe generaloperating fund ofthe policejury. It accounts for allactivities exceptthose required to be accounted for in other fu nds. SpecialR evenue Funds Specialrevenue fu ndsare used to accountfor th e proceedsof specific revenue sourcessuch asad valorem taxesand salestaxes.those revenuesare legally restricted by tax proposition to expendituresfor specified purposessuch asroad and drain age m aintenance and cons truction,library operation,hospita l operation,etc. D ebt Service Funds D ebt service funds ar e used to account for th e accum ulation of resources forand th e paym entof principaland intereston generallong-term debt. CapitalProjectsFunds These fu ndsare used to accountfor f'm ancialresourcesto be used for the acquisition and/orconstruction ofmajorcapitalfacilities,improvements, an d majorrepairs. Fiduciary Fund -SalesTax A gency Fund The SalesTax A gency Fund isused to accountfor salesta x collectionsm ade for oth er fundsand governmentalunits.itiscustodialin nature (i.e.,assetsequalliabilities)and does notinvolve m easurem entof operations

16 CALDW ELL PAR ISH PO LICE JU RY Notesto thefinancialstatements(continued) C. G EN ER A L FIX ED A SSETS AN D LO N G -TERM O BLIG A TIO N S Generalfixed assets are notcapitalized in th e fundsused to acquire or constructthem. Instead,capitalacquisition and constru ction arereflected asexpenditures(capitaloutlay)in the governm enta lfu ndsand the related assetsare reported in th e generalfixed assetsaccount group.a llpurchased fixed assetsare valued atcostw here historicalrecordsare available and estimated costwhere no historicalrecordsare available.the police jury'sgeneralfixed assets are valued atactu alhistoricalcost.a pproxim ately 54 per centof th e librar y'sfixed assets are valued atactualcostwhile theremaining 46 percent(booksand periodicals)are valued using a m oving-average basis. N o depreciation hasbeen provided on generalfixed assets. The costof norm alm aintenance and repairsth atdo notadd to the value of fixed assets ormaterialy extend theirusefu llivesare notcapitalized. Public domain (infrastructure) general fixed assets cons isting of roads, bridges, draina ge, parking lots, etc. are not capitalized,asthese assets areimmovable and ofvalue only to the police jury. Long-term obligations,such as revenue bonds and certificates of indebtedness are recogni zed as a liability of a governm ental fund only w hen due. For oth er long-term obligations,such ascom pensated absences,only thatportion expected to be financed from expendable,available financialresources is reported as a liability of a governm enta lfund. The rem aining portion of such obligations is reported in th e generallong-term obligations accountgroup. D. BASIS O F ACCO UNTING The financialreportin g treatm entapplied to a fund isdeterm ined by itsm easurem ent focus. A ll governm enta l funds ar e accounted for using a current financial resources m easurem entfocus. W ith thism easurem entfocus,only currentassetsand currentliabilities generally are in cluded on th e balance sheet. Operating statem ents forth ese fu nds present increases(i.e.,revenuesand otherfinancing sources)and decreases(i.e.,expendituresand otherfinancing uses)in netcurrentassets. The m odified accru albasisof accounting isused for reporting allgovernm enta lfu nd types and the fiduciary fu nd type agency fund. Under the m odified accru al basis of accounting,revenuesare recognized when susceptible to accrual(i.e.,when they become both measurable and available). "M easurable" meansth e amountof th e trans action can be determ in ed and "available" m eans collectible w ithin th e cur ent period or soon enough thereafterto be used to pay liabilitiesofthe currentpe riod.the police jury usesthe following practicesin recognizing an d reportin g revenuesand expenditu res: 15-

17 CA LDW ELL PA RISH POLICE JU RY Notesto the FinancialStatements (Continued) R evenues A d valorem taxesand the related state revenue sharing are recorded in the yearth e taxesar e due and payable. A d valorem taxes are assessed on a calendar year basis and attach as an enforceable lien and becom e due and payable on the date th e ta x rolls are filed w ith th e recorder of m ortgages. Louisiana Revised Statute 47:1993 requires thatthe tax rollbe filed on or before N ovem ber 15 of each year. A d valorem taxesbecom e delin quentifnot paid by D ecem ber31. The taxesare norm ally collected in D ecem ber of the currentyearand January and February of th e ensuin g year. Salestaxesare recognized in the month received by the policejury's sales tax collection agent. Federaland sta te grantsare recognized w hen the police jury isentitled to the funds. Fin es,forfeitu res,and courtcosts are recognized in th e year they are received by th e parish ta x collector. Interest incom e on tim e deposits is recognized w hen th e tim e depositshave m atu red and the interestisavailable. Substantially all oth er revenues are recognized w hen they becom e available to the police jury. Based on th e above criteria,ad valorem ta xes,federaland sta te grants, and f'm es, forfeitu res, an d court costs have been treated as susceptible to accrual. Expenditures Expendituresare generally recogni zed underth e m odified accrualbasis of accounting w hen the related fund liability isincurred,exceptforprincipal an d in tereston generallong-term obligations,w hich are recognized w hen due, an d com pens ated absences,which are recognized w hen paid. Other Financing Sources(Uses) Transfers betw een fim ds th at are not expected to be repaid and insurance recoveries forloss or dam age to assets are accounted for as oth er financing sources(uses)and are recognized when the underlying eventsoccur

18 CA LD W ELL PA RISH PO LICE JU RY Notesto thefinancialstatements(continued) E. BUD GETA RY PRA CTICES Prelim inary budgetsfor the ensuin g year are prepared by th e secretary/treasurer during O ctober of each year.d urin g N ovem ber th e finance com m ittee review sth e proposed budgets and m akes changes as itdeem s appropriate. The availability of th e proposed budgets for public inspection and th e date of the public hearin g on the proposed budgets are then advertised inthe oficialjournal.during itsregular Decembermeeting,the police jury holds a public hearin g on th e proposed budgetsin order to receive com m entsfrom residentsof th e par ish. Changes are m ade to the proposed budgetsbased on th e public hearing and the desiresofthe police jury asawhole.the budgets are then adopted during thepolice jury's regular D ecem ber m eeting,and a notice of th e adoption is then published in th e official journal. D uring th e year, th e finance com m ittee receives m onthly budgetary com parison statem ents,which ar e used as a m anagem enttoolto controloperations of the parish. The secretary/treasurerpresents necessary budgetamendmentsto the policejury during theyear when,in hisjudgement,actualoperationsarediffering materialy from those anticipated in the originalbudget. During a regu lar meeting,the police jury reviews the proposed am endm ents,m akeschangesasitdeem snece ssary,and form ally adoptsth e am endm ents.the adoption oftheamendm entsisincluded in police jury minutespublished in the officialjournal. The police jury exercisesbudgetary controlatthe functiona llevel.w ithin functiona llevels, th e secretary/treasurer has the discretion to m ak e am endm ents as he deem s necessary for propercontrol. The policejury doesnotutilize encumbrance accounting;however,the origina lbudgetsand any subsequentam endm entsare incorporated into th e accounting system. U nexpended appropriations lapse atyear end and m ustbe reappropriated in th e nextyear's budgetto be expended.forthe yearended December31,2003,the police jury adopted GAAP based budgetsfor th e G eneralfund and allspecialrevenue fu ndsexceptth e Crim ina lcourt Fund. Budget com parison statem ents included in the accom panying fina ncial statem ents include the originaladopted budgets and allsubsequentam endm ents. The follow ing schedule reconcilesthe excess(deficiency)ofrevenuesand othersourcesoverexpendituresand other uses,for specialrevenue fu nds,asshown on tile budgetcom parison Sta tem entc to the sam e am ounts show n on Statem entb : Excess of revenuesan d other sourcesover expenditures an d otheruses(budgetary basis) Adjustment-CriminalCourtFund notbudgeted $282, Excessof revenuesand oth er sourcesover expendituresand otheruses(gaap basis) - 17-

19 CA LDW ELL PARISH PO LICE JU RY Notesto the FinancialStatements(Continued) F. CASH AND CASH EQUIVALENTS Understate law,thepolice jury may depositfundsin demand deposits,interestbearing dem and deposits,m oney m arketaccounts,or tim e deposits w ith state banksorganized under Louisiana law and na tionalbank s having principaloffices in Louisiana.A td ecem ber 31, 2003,thepolice jury hascash and cash equivalents(book balances),totaling $3,866,632 as follow s: D em and deposits Tim e deposits $768, Tota l These deposits are sta ted atcost,w hich approxim atesm ar ket. U nder state law,these deposits,orthe resultin g bank balances,m ustbe secured by federaldepositinsurance or the pledge of securities ow ned by the fiscal agent bank. The m arket value of th e pledged securitiesplusthe federaldepositinsur ance m ustatalltim esequalthe am ounton depositw ith th e fiscalagent. These securitiesare held in the nam e of the pledging fiscalagentbank in a holding or custodial bank that is m utually acceptable to both parties. Cash and cash equivalents(bank balances)atdecember31,2003,are secured in totalasfollows: Bank Balances Federaldepositinsurance Pledged secur ities(uncollateralized) $384, Tota l Because the pledged securitiesar e held by a custodialbank in the nam e of the fiscal agentbank ratherthan in the name ofthe police jury,they are considered uncouateralized (Category 3)under the provisions ofgasb Codification C20.106;however,Lo uisiana Revised Sta tu te 39:1229 im posesa sta tu tory requirem enton th e custodialbank to advertise an d sellthe pledged secur itieswithin 10 daysofbeing notified by the police jury thatthefiscal agentbank hasfailed to pay deposited fu ndsupon dem and. Further,LR S 39:1224 sta testhat securitiesheld by a third party shalbe deemed to be held in the police jury 'sname. G. V A CA TIO N AN D SIC K LEAVE Thefolowing providesdetailon vacation and sick leave policiesofthe policejury, library,and crim inalcourt: - 18-

20 CA LD W ELL PARISH PO LICE JU RY Notesto the FinancialStatements(Continued) Employeesofthepolice jury and recreation districtreceive14 daysof annual leave each year w ith a m axim um accum ulation of 30 to 45 days, depending on th eir length of service. Em ployeesearn 10 daysof sick leave each year and m ay accum ulate sick leave w ithout lim itation. U pon term ination,retirem ent,or resigna tion,em ployees are paid for accum ulated unused annualand sick leave up to a m axim um of 90 or 105 days,depending on th eir years of service. Em ployees of th e Caldw ellparish Library accrue 10 to 22 days of annualleave each year,depending upon their professiona llevel.em ployees w ith one to ten yearsof service m ay carry overa m axim um of 30 dayswhile em ployeesw ith m ore th atten yearsof service m ay car ry over a m axim um of 45 days. Em ployees accruel0 days of sick leave each year,which m ay be accum ulated and carried forw ard w ith outlim ita tion. Em ployeesare notpaid for unused accum ulated annualand sick leave atterm ination of em ploym ent. Em ployeesof th e Thirty-Seventh JudicialD istrictcrim inalcourtearn from one to tw o w eeksof annualleave an d 10 to 15 days of sick leave each year,depending on th eir length of service. A nnual and sick leave can otbe accum ulated. AtD ecem ber 31,2003,em ployees asoutlined above,have accum ulated and vested $104,916 of employee leave benefits,computed in accordance with GASB Codification Section C60.The liability isrecorded w ith in th e generallong-term obligationsaccountgroup. The costof leave privileges,com puted in accordance w ith the previouscodification, is recognized as a current-year expenditure w ith in th e governm enta lfunds when leave is actu ally taken or w hen em ployeesare paid for accrued sick leave upon retirem ent,w hi le the costof leave privilegesnotrequiring currentresourcesisrecorded in th e generallong-term obligationsaccountgroup. H. SA LES TAX E S Caldwell Parish hasafour percentsalesand usetax. One percent(parish wide)is dedicated to the C al dw ellpar ish SchoolBoar d. O f th e rem aining three per cent,one per cent (parish wide)isdedicated to debtservice and operationsofthe parish hospital(citizens M edicalcenter). The parish hospitaltax waspassed by voterson April2,1977,foran indefiniteperiod.one perce nt (parish wide,excluding thetown ofcolumbia)isdedicated to m aintena nce and construction of roadsand bridgesan d fire protection (0.25 percent),and solid waste collection/disposaland blacktop roads (0.75 percent) The road,bridge,fire protection,and solid w aste tax w aspassed on O ctober 19,1985,foran indefinite period.o ne - 19-

21 CA LD W ELL PAR ISH PO LICE JU RY Notesto thefinancialstatements(continued) percent(parish wide)isdedicated to operationsoftheparish GeneralFund (0.25 percent) and;to solid w aste collection and disposal,w ith any surplus,after establishin g a reserve of $500,000 forsolid waste purposes,to be used forthe establishm entof a blacktop road fund forconstructing,maintaining,improving,and resurfacing hard surface roads(0.75 percent). The solid w aste and G eneralfund tax w aspassed on October 3,1992,foran indefinite period and w asrededicated to the above purp osesata specialelection held on M arch 12,1996. The police jury hasan agreementwith the Concordia Parish SchoolBoard to collect parish salesta xes. The schoolboard'sta x departm entprovidescollection services fora fee of one and one-quarterper centof am ountsactually collected,plusth e costof travel,supplies, an d posta ge. Taxes collected for m aintaining an d cons tructing roads and bridges, fire protection and solid w aste collection an d disposal,an d GeneralFund operations are deposited directly in the police jury'ssalestax account. The policejury (SalesTax Agency Fund) distributesthe taxesto other fundsan d agencieson a m onthly basis,afterdeducting th e above costs of collection. I. RISK M AN A G EM EN T Thepolicejury isexposed to variousrisk oflossrelated to torts;theftof,damage to, and destruction ofassets;errorsand omissions;and injuriesto employees. To handle such risk ofloss,the policejury maintainscommercialinsuran ce policiescovering automobile, w orkm en's com pens ation and surety bond coverage. N o claim s w ere paid on any of th e policiesdurin g the pastthree year s which exceeded the policies'coverage am ounts. There w ere no significantreductions in insuran ce coverage during th e year ended D ecem ber 31, TO TAL CO LUM N S O N CO M BINED STATEM EN TS Tota l colum ns on the com bined statem ents ar e captioned M em orandum O nly (overview)to indicate thatthey are presented only to facilitate finan cialanalysis. Data in these colum ns do notpresentfinancialposition or results of operations in conform ity w ith generally accepted accounting prin ciples. N eith er issuch data com parable to a cons olidation. Interfund elim inations have notbeen m ade in th e aggregation of th isdata. 2. LEVIED TAX E S The follow in g isa sum m ary of auth orized and levied ad valorem ta xesfor the year

22 CA LD W ELL PARISH POLICE JU RY Notesto the FinancialStatements(Continued) Parish w ide taxes: G eneralm aintena nce H ealth U nitm aintenance Road M aintena nce and Construction Library M aintenance Courthouse and JailM ain tenance IndustrialPark and E991 Operation Recreation M aintenance Econom ic D evelopm ent Auth orized Levied M illage M illage Expiration D ate 4.27 Indefin ite The difference betw een authorized and levied m illages is th e result of reassessm ents of taxable property in the parish asrequired by A rticle 7,Section 18 of the Louisiana Constitution of The follow ing schedule lists th e ten principal taxpayers for th e parish and their 2003 assessed valuation (amountsexpressed in th ousands): Percent 2003 of Tota l A ssessed A ssessed V aluation V aluation TexasG astransm ission Corp. Plum Creek Tim ber Com pany,lp Entergy Louisiana,Inc. H om elan d FederalSavingsBank BellSouth Caldw ellbank & TrustCom pany Sustain able Forests,LLC W ard'schevrolet-o ldsm obile,inc Entergy Louisiana,Inc. N oe Corp.,LLC Tota l $2,571 1,535 1,127 1,057 1, % 4.16% 3.05% 2.86% 2.86% 2.51% 2.18% 1.71% 1.54% 1.41% 29.24% RE CEIV ABLES The follow ing isa sum mary of receivablesatdecem ber 31,

23 CA LD W ELL PA RISH POLICE JU RY Notesto the Fina ncialstatements(continued) Taxes: A d valorem O ther G rants: Federal State Other Tota l General Fund Special Revenue Funds $193,240 $725,915 2,376 Capital Projects Fund 12,024 $6,767 83,447 54, Tota l $919,155 2,376 18, , $291,747 $801,133 $6,._.~ 767 $1,099,647 C H AN G ES IN G EN ER A L FIXED A SSETS The follow in g presentschangesin generalfixed assetsfor th e year ended D ecem ber 31,2003 Balance January 1 A dditions Balance D eletions D ecem ber 31 Police Jury: Land Buildings H eavy equipm ent V ehicles Equipm ent Caldw ellfire D ist.n o.1 K elly W atersystem H ebertfire D istrict Kelly Fire D istrict Colum bia H eightsfire D ist. ClarksFire D istrict W ards4& 5 W ater System - construction in progress E.Colum bia W atersystem - construction in progress Sub-total Library: Land Buildin gs $269,006 2,602, , , , , , , , ,899 23, , , ,476 $6,575 29,693 10,000 41,899 54, N ON E $269,006 2,609, , , , , , , , ,899 23,216 54, ~ , ,

24 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) Balance January 1 Additions D eletions Balance D ecem ber 31 Equipm ent and furniture Books Sub-total $35,878 $7, ,991 22, ($295) (295) $43, ~ Total $6,218,659 $184,918 ($295) $6,403,282 During 2003,the police jury revised itscapitalization policy. The revised policy providesforthe capitalization ofallassetswith a purchase price orvalue of $1,000 ormore when acquired. The revision caused a reduction in the totalrecorded costof beginning fixed assetsof $89, PEN SIO N PLAN Substant ially all em ployees of the Caldw ell Parish Police Jury are m em bers of the Parochial EmployeesRetirementSystem oflouisiana (System),a cost-sharing,multiple-employerdefined benefit pension plan adm inistered by a separate board of trustees. The System is com posed of tw o distinctplans, Plan A and Plan B,with separateassetsand benefitprovisions.a lemployeesofthe police jury are members of Plan A. A llperm anent em ployeesw orking atleasttw enty-eighthoursper w eek w ho are paid w holly orin partfrom parish fu ndsand allelected parish officialsare eligible to participate in th e System. U nderplan A,em ployeesw ho retire ator after age 60 w ith atleast10 year sof creditable service,atorafterage 55 w ith atleast25 year sof creditable service,or atany age w ith atleast30 yearsof creditable serv ice are entitled to a retirem entbenefit,payable m onth ly for life,equalto 3 per centof their finalaverage salary foreach year of credita ble service. H ow ever,for those em ployees who were m em bers of th e supplem entalplan only before January 1,1980,the benefitisequalto one percentoffinalaverage salary plus$24 foreach yearof supplem ental-plan-only service earned before January 1,1980,plus3 per centof final-average salary foreach salary for each year of service credited after th e revision date.fin alaverage salary isthe em ployee'saverage salary overthe 36 consecutive orjoined monthsthatproduce thehighestaverage.employeeswho termina te w ith atleastth e am ountof creditable serv ice sta ted above,and do notw ith draw th eir em ployee contributions, m ay retire atth e ages specified above and receive th e benefits accrued to th eir date of term ination. The system also providesdeath and disability benefits. Benefitsare established oramended by state statute. The System issuesan annualpublicly available reportthatincludesfinancialstatem ent sand required supplem entary inform ation for th e System. That report m ay be obtained by w riting to th e Parochial Em ployees'retirem entsystem of Lo uisiana,posto ffice Box 14619,Baton Rouge,Louisiana , orby caling (504) U nder Plan A,m em bers ar e required by sta te statu te to contribute 9.50 per centof their annual covered salary and th e Caldw ellparish Police Jury isrequired to contribute atan actu arially determ ined rate. The current rate is7.75 per cent of an ualcovered payroll. Contributionsto the system also include one- -23-

25 CA LDW ELL PARISH POLICE JURY Notesto the FinancialStatements(Continued) fourth ofone percent(exceptorleansand EastBaton Rouge Parishes)ofthe taxesshown to be colectible by the tax rolls of each parish. These ta x dollars are divided betw een Plan A and Plan B based proportionately on the salaries of the active m em bers of each plan. The Caldw ellparish Police Jury's contributions to the System under Plan A for th e yearsending D ecem ber 31,2003,2002,and 2001, w ere $50,865.41, $47,889,and $47,217,respectively, equal to the required contributions for each year. Contribution requirem entsof plan m em bersand th e CaldwellParish Police Jury are established and m ay be am ended by sta te sta tute. A sprovided by Louisiana Revised Statu te 11:103,th e em ployer contributionsare determined by actuarialvaluation and aresubjectto change each yearbased on the resultsofthe valuation for th e priorfiscalyear. 6. C H AN G ES IN G EN ERA L LO N G-TERM O BLIG A TIO N S 2003 The follow ing is a sum m ary of long-term obligation transactions forth e year ended D ecem ber 31 Long-term obligations,january 1st Additions Reductions Adjustment Bonds $185,000 (185,000) Certificatesof Indebtedness $229,000 Com pensated A bsences $96,483 52,109 (102,000) (48,901) Total $510,483 52,109 (335,901) Long-term obligations,d ecem ber 31st N ON E $127,000 $104,916 $231,916 The adjustmentisto adjustthe ending liability forcompens ated absencesforchangesin pay ratesan d lim itations on the num ber of days for w hich an em ployee can be com pensated. issues Cert ificatesof indebtednesspayable atd ecem ber 31,2003,are com prised of th e follow ing in dividual Certificatesof Indebtedness-$85,000 issue of November6,2000,forthe purpose of acquirin g an d constructing im provem ents,in cludin g buildings,at th e parish industrialpark. The principal is due in annual insta llm ents of $15,000 to $19,000 through M arch 1,2005,with intere stat7.5 percent.debt retirementpaymentsare made from the IndustrialInducementBond Fund. $37,000 Certificatesof Indebtedness-$690,000 issue of Jan uary 3,1994,forthe purp ose of constructin g a new health unitin C aldw ellparish. The principal isdue in annualins tallmentsof $50,000 to $90,000 through Febru ary 15, 2004 with interestat5.00 to 7.25 percent.debtretirementpaymentsare m ade from th e H ealth U nitsinkin g D ebtservice Fund. 90,000 Total - 24-

26 CA LD W ELL PA RISH PO LICE JURY Notesto the FinancialStatements(Continued) The annualrequirem ents to am ortize allcertificates of indebtedness outstanding atd ecem ber ,including interestpaym entsof$7,462,are asfollows: Y ear Tota l $114,037 20,425 $134,462 Asshown on StatementA,$175,876,isavailable in debtservice fundsto service th e certificatesof in debtedness. D UE FR O M /TO O TH ER FUN D S Individualfund balancesdue from /to oth er fundsatd ecem ber 31,2003,are asfollow s GeneralFund SpecialRevenue Funds: Road M aintenance C ourthouse and Jail IndustrialOperation Recreation H ealth U nit Library Solid W aste M anagem ent Crim inalcourt SalesTax A gency Fund Total Due from O th er Funds $42,108 8,187 68,875 D ue to Oth er Funds 28, LITIG ATIO N AN D CLA IM S AtDecember31,2003,the policejury isinvolved in severallawsuits.in theopinion ofthe district attorney,legalcounselforthe police jury,resolution ofthe suitswould notmaterialy affectthe finan cial position ofthepolice jury

27 CA LD W ELL PA RISH POLICE JU RY Notesto the FinancialStatements(Continued) SALES TAX AG EN CY FUND -CH AN G ES IN ASSETS AND LIAB ILITIES The follow ing schedule presentschangesin assetsand liabilitiesof th e SalesTax Fund for the year ended D ecem ber 31,2003: A ssets: Cash A ccounts receivable Tota la ssets Liabilities: A ccounts payable D ue to other funds D ue to oth er agencies TotalLiabilities Balance January 1 A dditions $106,619 $1,418,378 ($1,431,166) NONE 1,418,378 (1,418,378) $106,619 $2,836,756 ($2,849,544) $1,721 $23, ,598 1,386,872 2,300 29,338 $106,619 $1,439,806 Balance D eletions D ecem ber 31 ($23,961) (1,399,042) (29,592) ($1,452,595) $93,831 N O N E $93,831 $1,356 90, FUN D D EFICIT A t D ecem ber 31,2003,th e Crim inalcourt specialrevenue fund has a deficit fu nd balance of $21,252. The policejury,districtcourt judge,and districtattorney are closely monitoring the fund and reducing expendituresto elim inate the deficit.during 2003,the deficitwasreduced by $20,312.Itishoped thatthe rem aining deficitcan be elim inated during DEFERRE D RE VENU E D eferred revenue show n on Statem enta consistofad valorem taxespaid under protest.forty percent of allsuch taxesreceived are recorded asdeferred revenue and placed in an interestbearing escrow account pending judicial settlement. Ifthetaxpayerprevails,theescrow fundswilbe used to refund thatamount ordered by th e court.if the ta xpayer doesnotprevail,th e taxesheld in escrow w illbe recognized asrevenue atth attim e. -26-

28 SUPPLEM EN TAL IN FO RM ATIO N SCHEDULES -27-

29 CA LDW ELL PARISH POLICE JU RY SU PPLEM EN TA L IN FORM A TIO N SCH ED U LES A sof and for the Year Ended Decem ber 31,2003 SPECIA L REV EN U E FU N D S R O A D M A IN TEN A N CE FUN D The Road M aintenance Fund accounts for th e m aintenance of the parish highw ays,streets,and bridges. Financing isprovided by th e State of Lo uisiana Parish Transportation Fund,salesand use taxes, a parish w ide ad valorem tax,and sta te revenue sharing. C O U R TH O U SE AN D JA IL M A IN TEN AN CE FUN D The Courthouse and JailM aintenance Fund accountsfor th e m aintena nce and operation of th e parish courthouse and jail.financing isprovided by a parish wide ad valorem tax. IN DU STR IA L O PER A TIO N FUN D The IndustrialOperation Fund accountsforthe m ainte nance of th e parish-owned industrialdistrict. Financing isprovided by a parish wide ad valorem tax. Any excessof fundsovera $50,000 reserve in the fund can be used for im provin g,m aintaining,an d operating th e parish 911 em ergency com m unications system. The Recreation Fund accountsforth e m aintenance of the parish-ow ned recreation facility.financin g is provided by parish w ide ad valorem tax, sta te revenue sharing, interest earni ngs, dues, fees, and com m issions. HE ALTH U N IT M A IN TEN A N CE FUN D The H ealth U ni tm aintenan ce Fund accounts for th e m aintenance and operation of the parish health uni t. Financing isprovided by a parish w ide ad valorem tax

30 LIBR A R Y FUN D The Library Fund accounts for the m aintenance and operation of the C aldw ell Parish Library. Financing isprovided by a parish w ide ad valorem tax,state revenue sharing,and grantsfrom the Louisiana State Library. CR IM IN A L C O UR T FU N D The Crim inalcourtfund isestablished under Section of Title 15 of th e Louisiana Revised Statutesof 1950,which providesthatfinesand forfeituresim posed by the districtcourtsand districtattorney an d conviction fees in crim inalcases be transferred to th e parish treasurer and deposited into a special Crim inalc ourtfund accountto be used for th e expensesof the crim ina lcour tof the par ish. Expenditures are madefrom the fund on motion ofthe districtatorney and approvalofthe districtjudge.thestatute also requiresthatone-halfofthe funds(fund balance)remaining in thecriminalcourtfund atdecember31of each year be tran sferred to th e parish G eneralfund. SO LID W A STE FU ND The Solid W aste M anagem entfund accountsfor th e collection an d disposition of the parish'sgar bage and w aste. Financing isprovided by salesan d use taxes. W ITNE SS FEE FU ND The W itnessfee Fund paysw itnessfeesfor law enforcem entofficersw ho appear in courtw hile offduty. Fin ancing ism ade available through cour tcostsdesignated for thispurposes. 911 FUN D The 911 Fund accounts for th e esta blishm ent,ma intenance and operation of the 911 em ergency telephone system for C al dw ell Parish. Financing is provided by a 5 per cent service charge on local telephone service w ithin the parish.

31

32 oo 0

33 0 0 0

34

35 k~ 0 C~ CO Lt~

36

37 CALD W ELL PA RISH PO LICE JU RY SU PPLEM EN TA L IN FORM A TIO N SCH ED U LES A sof and forthe Y ear Ended D ecem ber 31,2003 D EBT SERV ICE FU N D S H O SPITAL SIN K IN G FU N D The H ospitalsinking Fund accum ulatesm oniesfor retirem entof th e M arch 6,1978,bond issue used to consa'uctth e parish hospita l. Financing isprovided by salesand use tax. H EA LTH UN IT SINK IN G FUND The H ealth U nit Sink ing Fund accum ulates m oni es for retirem ent of th e 1994 certificates of indebted nessissued to constructth e parish health unit. Financing isprovided by tran sfersfrom H ealth U ni tm ain tenance Fund. H EA LTH U N IT BO ND RE SER VE The Health UnitBond Reserve Fund m aintainsa minimum reserve of $50,000 asrequired by the 1995 certificates of in debtedness to be used solely for th e purpose of paying prin cipalan d in tereston certificates w hich w ould oth erw ise be in default. -34-

38 CALD W ELL PARISH POLICE JU RY D EBT SERV ICE FU N D S Schedule 5 Com bining Balance Sheet,D ecem ber 31,2003 HOSPITAL SINKING HEALTH HEALTH UNIT UN IT SINKI NG RESERVE TOTAL A SSETS Cash and cash equivalents LIABILITIES AND FUND EQUITY Liabilities:M atured principal and interestpayable Fund Equity -fund balances: Reserved for debtservice U nreserved -undesigna ted TotalFund Equity TOTA L LIA BILITIES AND FUND EQUITY $117,856 $92,949 $82,927 $293,732. N O N E N O N E $92,949 $82, , $183,317 $92,949 $82,927 $535,

39 CA LD W ELL PARISH PO LICE JU RY D EBT SERV ICE FU N D S Com bining Schedule of Revenues,Expenditures and Changesin Fund Balances For the Y ear Ended D ecem ber 31,2003 H EA LTH HEA LTH HOSPITAL UNIT UNIT SINKING SINKING RESERVE TOTAL REVENU E S State fim ds U se of m oney and property Tota lrevenues $ $96,125 $2, $96,125 7, ,151 EXPEND ITU R E S D ebtservice: Principal Interestand other charges Tota lexpenditures 185,000 9, ,594 85,000 9,500 94,500 N O N E 270,000 19, ,094 EXCESS (Deficiency)OF RE VE NUES O VE R EX PEND ITU RE S FUN D BA LA N CES A T BEG INN IN G O F Y EAR FU ND BAL A N C ES A T EN D O F Y EAR (190,443) 1, ~904 91,324 $65,461 $92~949 2,875 (185,943) ,280 $241,