TOWNOFOBERLIN,LOUISIANA. FinancialReport YearEndedJune30,204

Transcription

1 FECE 04SEP29 TOWNOFOBERLIN,LOUISIANA FinancialReport YearEndedJune30,204 Underprovisionsofstatelaw,thisreportisapublic document,acopyofthereporthasbensubmitedto thentityandotherapropriatepublicoficials.the reportisavailableforpublicinspectionathebaton RougeoficeoftheLegislativeAudtorand,where apropriate,atheoficeoftheparishclerkofcourt. ReleaseDate,/7-/,~-('~.~

2 TABLEOFCONTENTS IndependentAuditors'Report BASICFINANCIALSTATEMENTS GOVERNMENT-WIDEFINANCIALSTATEMENTS(GWFS) Statementofnetasets Statementofactivities FUNDFINANCIALSTATEMENTS(FS) Balanceshet-govenunentalfunds Reconciliationofthegovernmentalfundsbalanceshet Statementofrevetues,expenditures,andchangesinfundbalancesgovernmentalfunds tothestatementofnetasets Reconciliationofthestatementofrevenues,expenditures,and Statementofnetasets-proprietaryfunds changesinfundbalancesofgovernmentalfundstothestatementofactivities Statementofrevenues,expenses,andchangesinet Statementofcashflows-proprietaryfunds asets-proprietaryfunds Notestobasicfinancialstatements REQUIREDSUPLEMENTARYINFORMATION Budgetarycomparisonschedules: GeneralFund SalesTaxSpecialRevenueFund Page (continued)

3 TABLEOFCONTENTS(continued) OTHERSUPLEMENTARYINFORMATION OTHERFINANCIALINFORMATION MajorGovernmentalFunds- GeneralFund-budgetarycomparisonschedule-revenues GeneralFund-budgetarycomparisonschedule-expenditures NonmajorGovernmentalFunds- Combiningbalanceshet Combiningstatementofrevenues,expenditures,andchangesinfundbalances Nonmajorspecialrevenuefunds- Statementofrevenues,expendituresandchangesinfundbalances-budget (GAPbasis)andactual Nonmajordebtservicefunds- Statementofrevenues,expendituresandchangesinfundbalances-budget (GAPbasis)andactual Scheduleofnumberofutilitycustomers(unaudited) Scheduleofinsuranceinforce(unandited) Combinedscheduleofinterest-bearingdeposits-alfunds Comparativedepartmentalanalysisofrevenuesandexpenses-utilityfunds COMPLIANCEANDINTERNALCONTROL ReportonComplianceandonInternalControl overfinancialreportingbasedonanauditof FinancialStatementsPerformedinAcordance Sumaryscheduleofcurentandprioryearauditfindings withgovernmentauditin~standards andcorectiveactionplan

4 C,BunonKo~der,CPA* RusetfFCh~pagne,CPA* VictorRSlaven,CPA* ConradOCt=apman,CPA* P.TroyCourvil~e,CPA* Gerald/LThibodeat~,Jr.,CPA" RobetlS.Carter.CPA AlenJ.I~B~y,CPA FianyJ.Clostie,CPA PenoyAnoe~eScrugin~,CPA ChristineL,Cousin,CPA MaryT.Th~bode~,CPA KelyMDoucet,CPA KenethJ.Rad'~al,CPA Che~LBartley,CPA,CVA KOLDER,CHAMPAGNE,SLAVEN&COMPANY,LC CERTIFIEDPUBLICACOUNTANTS INDEPENDENTAUDITORS'REPORT TheHonorablePhilipW.Beard,Mayor, andmembersoftheboardofaldermen TownofOberlin,Louisiana WEBSITE: W.KCSRCPAS.COM MEMBEROF: AMERICANINSTHLITEOF CERTIFIEDPUBLICACOUNTANTS SOCIETYOFLOUIS~ CERTIFIEDPUBUCACOUNTANTS Wehaveauditedtheacompanyingfinancialstatementsofthegovernmentalactivitieșthebusinestypeactivities,eachmajorfund,andtheagregateremainingfundinformationoftheTownofOberlin, Louisiana,asofandfortheyearendedJune30,204,whichcolectivelycomprisetheTown'sbasicfinancial statementsaslistedinthetableofcontents.thesefinancialstatementsaretheresponsibilityofthetown's management.ouresponsibilityistoexpresopinionsonthesebasicfinancialstatementsbasedonouraudit. WeconductedourauditinacordancewithauditingstandardsgeneralyaceptedintheUnitedStates ofamericandthestandardsaplicabletofinancialauditscontainedingovernmentauditingstandardș isuedbythecomptrolergeneraloftheunitedstates.thosestandardsrequirethatweplanandperformthe auditobtainreasonableasuranceaboutwhetherthefinancialstatementsarefreofmaterialmistatemenṭ Anauditincludesexamining,onatestbasis,evidencesuportingtheamountsandisclosuresinthefinancial statements.anauditalsoincludesasesingtheacountingprinciplesusedandsignificantestimatesmadeby management,aswelasevaluatingtheoveralfinancialstatementpresentatioṇwebelievethatouraudit providesareasonablebasisforouropinions. Inouropinion,thefinancialstatementsreferedtoabovepresentfairly,inalmaterialrespects,the respectivefinancialpositionofthegovernmentalactivities,thebusines-typeactivities,eachmajorfund,and theagregateremainingfundinformationofthetownofoberlin,louisiana,asofjune30,204,andthe respectivechangesinfinancialpositionandcashflows,whereaplicable,thereofortheyearthenendedin conformitywithacountingprinciplesgeneralyaceptedintheunitedstatesofamericạ InacordancewithGovernmentAuditingStandards,wehavealsoisued 204onourconsiderationoftheTownofOberlin'sinternalcontroloverfinancial itscompliancewithcertainprovisionsoflaws,regulations,contracts,andgrants. partofanauditperformedinacordancewith areportdatedaugust20, reportingandourtestsof Thatreportisanintegral sandshouldbereadin conjunctionwiththisreportinconsideringtheresultsofouraudit. Ig3S~thBeadle Lafayete,LA70508 Phone(37)232-,141 F~(37)232-86O 13E~BridgeSwet13EastWatldil1234DavidDrive,Suite10540gWCe4tolStret B~Bridge,LA70517Marksvile,LA71351ivl~ganCity,LA70380VilePlate,LA70586 'Ph~(J7)352~4020Pholte(318) Phone(9~5) Pho~le(37) F~037)32-2~7 F~(318) F~(985) FLg(37) W.SixthAvenue Ob~di~LA7065 Plane(37) F~(37)63~568 20SethICalnShet Abevile,LA70510 Ph~037) F~(37)8~o7946

5 financialstatementsbutisuplementaryinformationrequiredbyacountingprinciplesgeneralyaceptedin theunitedstatesofamerica.wehaveapliedcertainlimitedprocedures,whichconsistedprincipalyof Therequiredsuplementaryinformationonpages35through37,isnotarequiredpartofthebasic inquiriesofmanagementregardingthemethodsofmeasurementandpresentationoftherequired suplementaryinformation.however,wedidnotauditheinformationandexpresnopiniononit. AcountingStandardsBoardhasdeterminedisnecesarytosuplement,althoughnotrequiredtobeapartof, thebasicfinancialstatements. TheTownofOberlinhasnotpresentedmanagement'sdiscusionandanalysisthatheGovernmental colectivelycomprisethetownofoberlin'sbasicfinancialstatements.theothersuplementaryinformation Ourauditwasconductedforthepurposeoformingopinionsonthefinancialstatementsthat onpages38through56ispresentedforpurposesofaditionalanalysisandisnotarequiredpartofthebasic financialstatementsofthetownofoberlin,louisiana.suchinformation,exceptforthatportionmarked "unaudited"onwhichwexpresnopinion,hasbensubjectedtotheauditingproceduresapliedinthe auditofthebasicfinancialstatementsand,inouropinion,isfairlypresentedinalmaterialrespectsin relationtothebasicfinancialstatementstakenasawhole. takenfromthefinancialreportforthatyearinwhichwexpresedanunqualifiedopiniononthebasic fmancialstatementsofthetownofoberlin,louisiana. Thefinancialinformationfortheprecedingyear,whichisincludedforcomparativepurposes,was Kolder,Champagne,Slaven&Company,LC CertifiedPublicAcountants Oberlin,Louisiana August20,204

6 BASICFINANCIALSTATEMENTS

7 GOVERNMENT-WIDE. FINANCIALSTATEMENTS(GWFS)

8 ASETS Curentasets: Cashandinterest-bearingdeposits Receivables,net Internalbalances Duefromothergovernmentalunits Totalcurentasets Nonenrentasets: Restrictedasets: Cashandinterest-bearingdeposits Capitalasets,net Totalnoncurentasets Totalasets LIABILITIES Cltrentliabilities: Acountsandotherpayables Capitaleasepayable Deferedrevenue Bondsandcertificatespayable Acruedinterest TOWNOFOBERLIN,LOUISIANA StatementofNetAsets June30,204 Governmental Activities $54,083 13,823 6,415 7, ,282 1,070, ,863 24,818 61,154 79,0 1,394 Busines-Type Activities $95,10 109,563 (6,415) 198,248 85,624 4,137,659 4,23,283 $639, ,386 7, ,530 85,624 5,208,450 5,294,074 4,421,531 6,134,604 37,90 16,635 58,763 24,818 61,154 95,635 1,394

9 ~ o H ~1~~

10 FUNDFINANCIALSTAmMerS(rFS)

11 8~ TheG~eralFund-isusedtoacount:fores0mv2Straditipnalyasoe!atedWithgovernmentswhichark:not ~~dtobe~.~ounted~orinanothci~_na~ ~~ ~. :::SPeialRevenueFund i ~extending,impwving,0pezatingwater-works;streds,r~reation/dfacilitiesandfire,prot~ion.faeititiesand To:a~ountforther~eiptandUSeofpwcedsoftheTown'si%salesand9setax-aprovedbYthevotmon iequipment,andpurchasingandacqu~ngthe:nes~lahd,equtpmemard~shingsforanyofthe S~tember:!6,!978~esctaxes,atei~catedundusedforthepurposes0f~c0nstmeting,acquiring,' :gorcsaidpublicworks,"improvementsandfac.ilities,orforanyoneorm~saidpurposesl:andshauthe Townbefurtherauthorizedtofundtheproceds,dfthetaxifi~obondstobeisuedinscaleS:fromtimetotime for~ga~vo~oq~ them"permitedbythelawsoflouisiana.toaceotmtforthereceiptanduseofprocedsofthetown'.s ~3%:salesandUsetaxaprovedbythevotersonOctOber7;1989.Thesetaxesarededicatedaridusedfor~e ~yon~o~mo~co~fthe:~0~d~,it~,~m~ve~ tota~t~iund,purposeofconstructing,improving,maintaining,andoperatingpubliestrets,sidewalks,andaleysiand foracquiring,constructing,improving,maintainingandoperatingreresti01mlfaeilit!es.thetownghal 'fa-thcrauthorizedtofundtheprocedsofthetaxintobondstobe:isu~int~scriesfrom,~eto'timefor anycapitalproposedescribedaboveitothextantandinthemarmexprovided,bylouisianalaw.i: GaS~tmtvr.nd:~' TOacountfor:'theprovisionsofgasScrvideto/esidcntsoftheTown~:4i!aotvitieSnc~ ~,. r:, areacouptedfor:in:thisfund,induding~butnotlimitedto,:~strafion,operafiom; toprovide malmenanc~,finanelugandrelatedebtservice,andbilingandeoilecfi0n.:i TOa~ountfo~eprovision0fw,iterandseweragesorviestOresidm~tS:oftheT0wn.Alactix;ities noei~ssaryt~pr0vim~ehservicesareaecountedforin:this~.nd~including,butnotlimitedto~ administr~on,op~tions,maint~ei~eingand/elatedebtservie,andbilingandcouetion.

12 ~ao~t'~'~ ~

13 Theacompanyingnotesareanintegralpartofthebasicfinancialstatements. 10 TOWNOFOBERLIN,LOUISIANA ReconciliationoftheGovernmentalFundsBalanceShet tothestatementofnetasets June30,204 TotalfundbalancesforgovernmentalfundsatJune30,204 Totalnetasetsreportedforgovernmentalactivitiesinthestatementofnet $560,265 asetsisdiferentbecause: Capitalasetsusedingovernmentalactivitiesarenotfinancialresources and,therefore,arenotreportedinthefunds.thoseasetsconsistof: Land Buildings,netof$145,67acumulatedepreciation Infrastructure,netof$207,197acumulatedepreciation $18, ,721 19,840 Vehicles,netof$106,036acumulatedepreciation Equipment,furniture,andfixturesnetof$15,935acumulatedepreciation158,241,070,791 24,674 Long-termliabilitiesatJune30,204 Capitaleasepayable Bondspayable (51,40) Acruedinterestpayable (19,0) (1,394)(251,794) TotalnetasetsofgovernmentalactivitiesatJune30,204

14 Revenues: Taxes Licensesandpermits lntergovernrnental Finesandforfeits Chargesforservices Miscenaneous Totalrevenues TOWNOFOBERLIN,LOUISIANA StatementofRevenues,Expenditures,andChangesinFundBalances- GovernmentalFunds YearEndedJune30,204 WithComparativeTotalsforYearEndedJune30,203 Expenditures: Curent- Generalgovernment Publicsafety- Policeandftre Highwaysandstrets Urbanredevelopmentandhousing Debtservice- Principalretirement Interestandfiscalcharges Capitaloutlay Totalexpenditures Exces(deficiency)of revenuesoverexpenditures Other~ancingsources(uses): Procedsfromcapitalease Transfersin Transfersout Totalotherf'mancingsources (uses) Exces(deficiency)ofrevenues andothersourcesover expendituresandotheruses Fundbalances,begining Fundbalances,ending General $68,703 35, ,064 98,042 14, ,207 Totals Other (MemorandumOnly) SalesTaxGovernmental $172,23 2, , ,013 3, , ,593 23,60 3,983 12, ,062 75,0 162,941 (49,851)(198,0) $47, , , ,123 23, ,67 7,0 16,054 20,36 $28,131 35~56 507,650 98, ,14 950, , , , ,67 10,60 20,037 12,341 1,040,383 $284,791 39, ,939 94, ~91 94,53 201, , ,58 101,104 70,0 20,284 lol,o3~. 1~032,263 (46,213)(90,215)(87,739) 49,851 75,0 212,792258,484 (247,851)(172,506) (26,765) 151,38 $124,623 (27,147) 172,723 $145,576 Theacompanyingnotesareanintegralpartofthebasicfinancialstatements 1 3, ,428 (50,274) 610fi39 $560,265 (1,752) 612,291 $610,539

15 Theacompanyingnotesareanintegralpartofthebasicfinancialstatements. 12 TOWNOFOBERLIN,LOUISIANA ReconciliationoftheStatementofRevenues,Expenditures,and ChangesinFundBalancesofGovernmentalFunds tothestatementofactivities YearEndedJune30,204 TotalnetchangesinfundbalancesatJane30,204per StatementofRevenues,ExpendituresandChangesinFundBalances Thechangeinetasetsreportedforgovernmentalactivitiesinthe $(50,274) statementofactivitiesisdiferentbecause: Governmentalfundsreportcapitaloutlaysasexpenditures.However, theirestimatedusefulivesandreportedasdepreciationexpense. inthestatementofactivities,thecostofthoseasetsisalocatedover CapitaloutlaywhichisconsideredexpendituresonStatement DepreciationexpensefortheyearendedJune30,204 ofrevenues,expendituresandchangesinfundbalances $12,341 (80,826)31,515 Governmentalfundsreportbondedebtandcapitaleaserepaymentsas expenditures.however,thesexpendituresdonotapearinthestatement ofactivitiesincethepaymentsareapliedagainsthebondpayableand capitaleasepayablebalancesonthestatementofnetasets. Procedsfromcapitalease 10,60 versusinterestonlong-termdebtonacrualbasis Diferencebetweninterestonlong-termdebtonmodifiedacrualbasis (75,0) TotalchangesinetasetsatJune30,204perStatementofActivities

16 TOWNOFOBERLIN,LOUISIANA StatementofNetAsets WithComparativeTotalsforJune30,203 ProprietaryFunds June30,204 Curentasets: Cash ASETS Fund GasUtility Waterand SewerUtility Fund Imerest-bearingdeposits Acountsreceivable $25,56 Contractreceivable Acruedinterestreceivable 51,087 1,350 39,305 18,879 Duefromotherfunds Restrictedasets: Totalcurentasets ,57 $64,871 8, ,64 30,29 $14,320 32,46 132,015 15,735 15,735 20, , , ,620 15,735 CashInterest-beatingdeposits Property,plantandequipment,atcost, Totalrestrictedasets 2,70 23,490 26,260 5,869 53,495 59,364 76,985 85,624 8, ,73 5,309 97,464 netofacumulatedepreciation (204$1,475,276;203$1,360,356) Totalasets 52,050. Curentliabilities: Acountspayable LIABILITIES 16,693 4,085,609 4,276,98 4,137,659 4,43,681 4,167,316 4,564,709 Contractpayable Retainagepayable 2,5122,764 10,932 Otheracruedliabilities 19,063 13,4 Duetotherfunds Payablefromrestrietedasets- Revenuebonds ,629 19,063 13,172 5,031 5,393 49,013 2,150 8,5696,384 2,150 Acruedinterest Noncurentliabilities: Totalcurentliabilities 54,290 76, ,701 32,69 6,714 Revenuebondspayable Customers'deposits Totaliabilities 40,4301,63,651 6,690 1,680,286 63,360 Investedincapitalasets,netofrelatedebt Unrestricted NETASETS 52,050 Totalnetasets $18,038 65,98 2,405,323 $2,518,617 13,294 $2,636,65 2,457, ,282 $2,602,362 2,487,030 15,32 Theacompanyingnotesareanintegralpartofthebasicfinancialstatements. 13

17 StatementofRevenues,Expenses,andChangesinNetAsets TOWNOFOBERLIN,LOUISIANA YearEndedJune30,204 ProprietaryFunds WithComparativeTotalsforYearEndedJune30,203 Operatingrevenues: Chargesforservices- GasUtilityFund SewerUtility Waterand Fund 204 Totals 203 Gasales Watersales Sewersales $303,651$ $303,651 Delinquentcharges Miscelaneous 6, , ,084 8,16 212,592 Operatingexpenses: Totaloperatingrevenues 316 2, ,084 $365,982 14, , , ,201 2,675 12,087 13,48 696, A84 1,514 Gasdepartmentexpenses Waterandsewerdepartmentexpenses 358,436 Totaloperatingexpenses Nonoperatingrevenues(expenses): Operatingincome(los) 358~36 358, , ,81 (48,18) 351, , ,908 34,562 (13,56) Interestincome Interestexpense Totalnonoperatingrevenues(expenses) (74,797) 1,520 Transfersin(out): Income(los)beforetransfers (73,27) 2, ,789 7,695 (74,797) (72~72) (32,69) 3,58 (29,141) WaterandSewerUtilityFund SalesTaxFund GeneralFund 50,0 GasUtilityFund 1,789 Totaltransfersin(out) 7,763 (16,730) (7,763) 50,0 (7,763) (18,4) (14,941) Capitalcontributions Netincome(los) 59,52 7,763 (85,978) 35,059 18,4 12,239 (63,208)(50,969)(107,424) (85,978) Netasets,begining Changeinetasets 12,239 Netasets,ending $18, ,79 $2,518,617 2,496,563 2,054 34,293 $2,636,65 2,602,362 $2,602,362. 2,082, ,414 Theacompanyingnotesareanintegralpartofthebasicfinancialstatements. 14

18 TOWNOFOBERLIN,LOUISIANA StatementofCashFlows YearEndedJune30,204 ProprietaryFunds WithComparativeTotalsforYearEndedJune30,203 Utility Gas Cashflowsfromoperatingactivities: Fund SewerUtility Waterand Fund Receiptsfromcustomers Paymentstosupliers Paymentstoemployes $308,687 Othereceipts (283,161) (70,627) $373,825 Cashflowsfromnoncapitalfinancingactivities: Netcashprovided(used)byoperatingactivities 316 (156,106) (70,631) $682,512 (4,785) 2,359 (439,267) (141,258) $ ,47 2,675 (496,684) (149,375) 104,62 40,902 1,514 Cashpaidtotherfunds Transfersfromotherfunds Transferstotherfunds 59,52 Netcashprovided(used)bynoncapital (24,493)(104,42) 59,52 (4,034) 18,4 Cashflowsfromcapitalandrelatedfinancingactivities: financingactivities 59,52(24,493)35,059(90,012) Procedsfromsewerevenuebonds Principalpaidonbondanticipationotes Principalpaidonrevenuebondspayable Interestpaidonrevenuebondspayable Increase(decrease)incustomers'meterdeposits Acquisitionofproperty,plantandequipment 1,494 (107,496) Contributionfromfederalgrant (85,263) (6,714) 1,836 (6,714) 1,687,0 (81,573) (107,496) Netcashprovided(used)bycapital Cashflowsfrominvestingactivities: andrelatedflnuncingactivities 85,262 (85,263) 3,30 85,262 (1,47,312) (1,940) 1,494(12,375)(10,81)(16,987) Purchaseofinterest-bearingdeposits Procedsfromaturitiesofinterest-bearingdeposits Interestreceivedoninterest-bearingdeposits (34,840) Netcashprovided(used)byinvestingactivities 34, (72,374) 95,516 Netincrease(decrease)incashand 24~62 1,520 (107,214) 129,930 25,041 2,325 (129,930) 98,427 (27,945) 3,58 Cashandcashequivalents,beginingofperiod 16,640 37,241 53,81(94,042) Cashandcashequivalents,endofperiod $28,36$45,174$73,510$19,629 (continued)

19 TOWNOFOBERLIN,LOUISIANA StatementofCashFlows(continued) PropriotaryFunds YearEndedJune30,204 WithComparativeTotalsforYearEndedJune30,203 Reconciliationofoperatingincome(los)tonotcash provided(used)byoperatingactivities Operatingincome(los) Adjustmentstoreconcileoperatingincome(los) tonetcashprovidedbyoperatingactivities- Depreciation Changesincurentasetsandliabilities: Increaseinacountsreceivable Decrease(increase)incontractsreceivable Increaseinacruedinterestreceivable Increase(decrease)inacountspayable Decreaseincontractspayable Increase(decrease)inrotainagepayable Decreaseinotheracruedliabilities Netcashprovided(used)byoperating activities Reconciliationofcashandcashequivalentsper statementofcashflowstothebalanceshet: Cashandcashequivalents,beginingofperiod- Cash-unrestricted Cash-restricted Interest-bearingdeposits-unrestricted Interast-bearingdeposits-restricted Les:Interest-bearingdepositswithamaturity overthremonthswhenpurchased Totalcashandcashequivalents Cashandcashequivalents,endofperiod- Cash-unres~cted Cash-restricted Interest-bearingdeposits-unrestricted Interest-bearingdeposits-restricted Les:Interest-bearingdepositswithamaturity overthremonthswhenpurchased Totalcashandcashequivalents Netincrease(decrease) Gas Utility Fund Waterand SewerUtility Fund Totals203 $(48,18)$34,562$(13,56)$7,695 5,864 (1,315) (380) (10) (736) (10,017) 134,781 (53)372 (29,950) (8,569) (25) $10,421 1,275 10,924 23,490 (34,414) 1,696 25,56 2,70 1,350 23,490 (34,840) 28,36 $16,640 Theacompanyingnotesareanintegralpartofthebasicfinancialstatements. 16 $3,89 4,034 21,542 73,974 (95,516) 7,93 39,305 5,869 18,879 53,495 (72,374) 45,174 $37,241 14,92069,39 (1,32)(16,179) 134,781 (923) (913) 272(18,91) (29,950)(62,735) (8,569)62,936 (91)(240) $104,62$40,90 _._12 $14,320 5,309 32,46 97,464 (129,930) 19,629 64,871 8,639 30,29 76,985 (107,214) 73,510 $53,81 $106,30 7,341 40, (98,427) 13,671 14,320 5,309 32,46 97,464

20 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements (1) SumaryofSiniflcantAcounting,Policies inconformitywithgeneralyaceptedacountingprinciples(gap)asapliedtogovernmental units.gapincludesalrelevantgovernmentalacountingstandardsboard(gasb) TheacompanyingfinancialstatementsoftheTownofOberlin(Town)havebenprepared pronouncements.inthegovernment-widefinancialstatementsandthefundfinancialstatementsfor theproprietaryfunds,financialacountingstandardsboard(fasb)pronouncementsand AcountingPrinciplesBoard(APB)opinionsonorbeforeNovember30,1989,havebenaplied unlesthosepronouncementsconflictwithorcontradictgasbpronouncements,inwhichcase, GASBprevails.Theacountingandreportingframeworkandthemoresignificantacounting policiesarediscusedinsubsequentsubsectionsofthisnote. A Act.TheTownoperatesundertheMayor-BoardofAldermenformofgovernment. TheTownofOberlinwasincorporatedundertheprovisionsoftheLawrason Town'sexecutiveandlegislativebranches(theMayorandBoardofAldermen). ControlbyordependenceontheTownwasdeterminedonthebasisofbudget Thisreportincludesalfundsthatarecontroledbyordependentonthe adoption,taxingauthority,authoritytoisuedebt,electionorapoinlmentof governingbody,andothergeneraloversightresponsibility. organizationbutisnotapartofthetownandisthusexcludedfromthe acompanyingfinancialstatements.thisorganizationistheoberlinhousing Basedontheforegoingcriteria,acertaingovernmentalbodyisarelated Authority.AlthoughtheTowndoesapointitsboard,nocontrolisexercisedoverits operations. Govement-WideFinancialStatements(GWFS) abouthereportingovernmentasawhole.theyincludealfundsofthereporting Thestatementofnetasetsandstatementofactivitiesdisplayinformation entity.thestatementsdistinguishbetwengovernmentalandbusines-typeactivities. Governmentalactivitiesgeneralyarefmancedthroughtaxes,intergovemental revenues,andothernonexchangerevenues.busines-typeactivitiesarefinancedin wholeorinpartbyfeschargedtoexternalpartiesforgodsorservices.

21 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) andprogramrevenuesforthebusines-typeactivitiesofthetownandforeach functionofthetown'sgovernmentalactivities.directexpensesarethosethatare Thestatementofactivitiespresentsacomparisonbetwendirectexpenses specificalyasociatedwithaprogramorfunctionand,therefore,areclearly identifiabletoaparticularfunction.programrevenuesinclude(a)fes,fines,and chargespaidbytherecipientsofgodsorservicesoferedbytheprograms,and(b) grantsandcontributionsthatarerestrictedtometingtheoperationalorcapital requirementsofaparticularprogram.revenuesthatarenotclasifiedasprogram revenues,includingaltaxes,arepresentedasgeneralrevenues. FundFinancialStatements Afundisanindependentfiscalandacountingentitywithaseparatesetofselfbalancingacounts.Fundacountingsegregatesfundsacordingtotheirintended TheacountsoftheTownareorganizedandoperatedonthebasisofunds. purposeandisusedtoaidmanagementindemonstratingcompliancewithfinancerelatedlegalandcontractualprevisions.theminimumnumberofimdsis maintainedconsistentwithlegalandmanagerialrequirements. governmentalandproprietary.themphasisonfundfinancialstatementsisonmajor governmentalandenterprisefunds,eachdisplayedinaseparatecolumn.afundis ThevariousfundsoftheTownareclasifiedintotwocategories: consideredmajorifitistheprimaryoperatingfundofthetownormetsthe folowingcriteria: Totalasets,liabilities,revenues,orexpenditures/expensesof thatindividualgovernmentalorenterprisefundareatleast10 percentofthecorespondingtotalforalfundsofthatcategory ortype;and Totalasets,liabilities,revenues,orexpenditures/expensesofthe individualgovernmentalorenterprisefundareatleast5percent ofthecorespondingtotalforalgovernmentalandenterprise fundscombined. GovernmentalFunds- ThemajorfundsoftheTownaredescribedbelow: GeneralFund acountforalfinancialresourcesexcepthoserequiredtobeacountedforin TheGeneralFundisthegeneraloperatingfundoftheTown.Itisusedto anotherfund.

22 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) SpecialRevenueFunds SalesTaxFundandusetaxanda.3%salesandusetaxthatarelegalyrestrictedtoexpendituresfor TheSalesTaxFundisusedtoacountfortheprocedsofaonepercentsales specificpurposes. ProprietaryFunds- EnterpriseFunds operatedinamanersimilartoprivatebusinesenterprises-wheretheintentofthe Enterprisefundsareusedtoacountforoperations(a)thatarefinancedand governingbodyisthathecosts(expenses,includingdepreciation)ofproviding godsorservicestothegeneralpubliconacontinuingbasisbefinancedorecovered primarilythroughusercharges;or(b)wherethegoverningbodyhasdecidedthat periodicdeterminationofrevenuesearned,expensesincured,and/ornetincomeis apropriateforcapitalmaintenance,publicpolicy,managementcontrol, acountability,orotherpurposes.thetown'senterprisefundsarethegasutility C.MeasurementFocus/BasisofAcounting, FundandtheWaterandSewerUtilityFund. recordedwithinthevariousfinancialstatements.basisofacountingrefersto Measurementfocusisatermusedtodescribe"which"transactionsare "when"transactionsarerecordedregardlesofthemeasurementfocusaplied. MeasurementFocus activities,bothgovernmentalandbusines-typeactivitiesarepresentedusingthe economicresourcesmeasurementfocusasdefinedinitemb.below. Onthegovernment-widestatementofnetasetsandthestatementof measurementfocusorthe"economicresources"measurementfocusisusedas Inthefundfinancialstatements,the"curentfinancialresources" apropriate: a.algovernmentalfundsutilizea"curentfinancialresources" measurementfocus.onlycurentfinancialasetsandliabilitiesare generalyincludedontheirbalanceshets.theiroperating statementspresentsourcesandusesofavailablespendablefinancial resourcesduringagivenperiod.thesefundsusefundbalanceas theirmeasureofavailablespendablefinancialresourcesathendof theperiod.

23 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) Theproprietaryfundutilizesan"economicresources"measurement focus.theacountingobjectivesofthismeasurementfocusarethe determinationofoperatingincome,changesinetasets(orcost recovery),financialposition,andcashflows.alasetsandliabilities (whethercurentornoncurent)asociatedwiththeiractivitiesare reported.proprietaryfundequityisclasifiedasnetasets. BasisofAcounting bothgovernmentalandbusines-typeactivitiesarepresentedusingtheacrualbasis ofacounting.undertheacrualbasisofacounting,revenuesarerecognizedwhen Inthegovernment-widestatementofnetasetsandstatementofactivities, earnedandexpensesarerecordedwhentheliabilityisincuredoreconomicaset used.revenues,expenses,gains,loses,asets,andliabilitiesresultingfrom exchangemadexchange-liketransactionsarerecognizedwhenthexchangetakes place financialresourcesmeasurementfocusandthemodifiedacrualbasisofacounting. Revenuesarerecognizedasonastheyarebothmeasurableandavailable. Ġovernmentalfundfinancialstatementsarereportedusingthecurent Revenuesareconsideredtobeavailablewhentheyarecolectiblewithinthecurent periodorsonenoughthereaftertopayliabilitiesofthecurentperiod.forthis purpose,thegovernmentconsidersrevenuestobeavailableiftheyarecolected within60daysofthendofthecurentfiscalperiod.expenditures(includingcapital outlay)generalyarerecordedwhenaliabilityisincured,asunderacrual acounting.however,debtservicexpendituresarerecordedonlywhenpaymentis due. acrualbasisofacounting,revenuesarerecognizedwhenearnedandexpensesare recordedwhentheliabilityisincuredoreconomicasetused. Theproprietaryfundutilizestheacrualbasisofacounting.Underthe D.Asets.LiabilitiesandEauitv Cashandinterest-bearingdeposits includealdemandacounts,savingsacounts,andcertificatesofdepositsofthe Town Forpurposesofthestatementofnetasets,cashandinterest-bearingdeposits cashequivalents"includealdemandandsavingsacounts,andcertificatesof depositwithanoriginalmaturityofthremonthsorles. Ḟorthepurposeoftheproprietaryfundstatementofcashflows,"cashand 20

24 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) Interfundreceivablesandpayables individualfundsthatmayresultinamountsowedbetwenfunds.thoserelatedto godsandservicestypetransactionsareclasifiedas"duetoandfromotherfunds." Duringthecourseofoperations,numeroustransactionsocurbetwen Short-terminterfundloansarereportedas"interfundreceivablesandpayables." fromandtotherfunds."lnterfundreceivablesandpayablesbetwenfundswithin governmentalactivitiesareliminatedinthestatementofnetasets. Long-terminterfundloans(noncurentportion)arereportedas"advances Receivables earnedatyear-endandnotyetreceived.majoreceivablebalancesforthe governmentalactivitiesincludesalesandusetaxes.busines-typeactivitiesreport Inthegovernment-widestatements,receivablesconsistofalrevenues customer'sutilityservicereceivablesastheirmajoreceivables.uncolectible amountsdueforsalesandusetaxesandcustomer'sutilityservicereceivablesare recognizedasbadebtsathetimeinformationbecomesavailablewhichwould indicatetheuneolectibilityoftheparticularreceivable.althoughthespecific charge-ofmethodisnotinconformitywithgeneralyaceptedacountingprinciples renderedbetwenthedateofmetereadingandbilingandthendofthemonth,are (GAP),noalowanceforuncolectiblereceivablesisrecordeduetoimateriality notrecordeduetoimaterialityatjune30,204. atjune30,204.unbiledutilityservicereceivablesresultingfromutilityservices CapitalAsets asets,arereportedintheaplicablegovernmentalorbusines-typeactivities columnsinthegovernment-wideorfundfinancialstatements.capitalasetsare Capitalasets,whichincludeproperty,plant,equipment,a~dinfrastructure capitalizedathistoricalcostorestimatedcostifhistoricalisnotavailable.donated asetsarerecordedascapitalasetsatheirestimatedfairmarketvalueathedateof donation.thetownmaintainsathresholdlevelof$50ormoreforcapitalizing capitalasets. theasetormaterialyextendasetslivesarenotcapitalized.priortojuly1,201, governmentalfunds'infrastructureasetswerenotcapitalized.theseasetshave Thecostsofnormalmaintenanceandrepairsthatdonotadtothevalueof benvaluedatestimatedhistoricalcost.

25 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) expenseinthestatementofactivities,withacumulatedepreciationreflectedinthe statementofnetasets.depreciationisprovidedovertheasets'estimateduseful Depreciationofalexhaustiblecapitalasetsisrecordedasanalocated livesusingthestraight-linemethodofdepreciation.therangeofestimateduseful livesbytypeofasetisasfolows: Buildings Vehiclesandequipment Utilitysystemandimprovements 40years 5years Infrastructure 20-40years Inthefundfinancialstatements,capitalasetsusedingovemantalfund 20years operationsareacountedforascapitaloutlayexpendituresofthegovernmentalfund uponacquisition.capitalasetsusedinproprietaryfundoperationsareacountedfor thesameasinthegovernment-widestatements. RestrictedAsets fundsthatarelegalyrestrictedastotheiruse.therestrictedasetsarerelatedtodebt serviceandtotheutilitymeterdeposits. Restrictedasetsincludecashandinterest-bearingdepositsoftheproprietary Long-termdebt

26 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) CompensatedAbsences paid.eachful-time,permanentemployearnsfivedaysofsickleaveperyearup toamaximumofthirtydaysformajorilnes.employeswhoresignoretireorwho Vacationandsickleavearerecordedasexpendituresoftheperiodinwhich aredismisedfromemploymentshalnotbepaidforanyacruedsickleave.five daysofanualeavearearnedontheaniversarydateofemploymentofeachfultime,permanentemployewithlesthantwofulyearsofservicewiththe municipalityasaful-time,permanentemploye.tendaysofanualeavearearned bysuchemployesaftertwofulyearsasafun-time,permanentemploye.fiften daysofanualeavearearnedafiertenfulyearsandtwentydaysofanualeave arearnedaftertwentyfulyearsofemploymentasful-time,permanentemployes. Employesmaynotcaryoveroracumulateanualeaveorsickleavefromone aniversarydatetoanother.anyliabilitythetownmighthaveinthisregardatjune 30,204isconsideredimaterial;therefore,noliabilityhasbenrecordedinthe acounts. EquityClasifications displayedinthrecomponents: Inthegovernment-widestatements,equityisclasifiedasnetasetsand Investedincapitalasets,netofrelatedebt-Consistsofcapital asetsincludingrestrictedcapitalasets,netofacumulated depreciationandreducedbytheoutstandingbalancesofanybonds, mortgages,notes,orotherborowingsthatareatributabletothe b.restrictednetasets-consistsofnetasetswithconstraintsplaced acquisition,construction,orimprovementofthoseasets. ontheuseitherby(1)externalgroupsuchascreditors,grantors, contributors,orlawsoregulationsofothergovernments;or(2)law c.unrestrictednetasets-alothernetasetsthatdonotmethe throughconstitutionalprovisionsorenablinglegislation. definitionof"restricted"or"investedincapitalasets,netofrelated debt." fundbalance.fundbalanceisfurtherclasifiedasreservedandunreserved,with unreservedfurthersplitbetwendesignatedandundesignated.proprietaryfund Inthefundf'mancialstatements,governmentalfundequityisclasifiedas equityisclasifiedthesameasinthegovernment-widestatements.

27 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) E OperatingRevenuesandExpenses fromprovidingservicesandproducingandeliveringodsand/orservices.italso includesalrevenueandexpensesnotrelatedtocapitalandrelatedfinancing, Operatingrevenuesandexpensesforproprietaryfundsarethosethatresult noncapitalfinancing,orinvestingactivities. Expenditures/Expenses functionforbothgovernmentalandbusines-typeactivities. Inthegovernment-widefinancialstatements,expensesareclasifiedby Inthefundfinancialstatements,expendituresareclasifiedasfolows GovernmentalFunds-bycharacter ProprietaryFund-byoperatingandnonoperating Inthefundfinancialstatements,governmentalfimdsreportexpendituresof

28 25 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) G reflectedinthefinancialstatements: TheTownfolowstheseproceduresinestablishingthebudgetarydata PriortoJune15,theTownClerksubmitstotheMayorandBoardof Aldermenaproposedoperatingbudgetforthefiscalyearcomencing thefolowingjuly1. Asumaryoftheproposedbudgetispublishedandthepublicnotified thatheproposedbudgetisavailableforpublicinspection.athesame time,apublichearingiscaled. Apublichearingisheldontheproposedbudgetatleastendaysafter publicationofthecalforthehearing. Aftertheholdingofthepublicheatingandcompletionofalaction necesarytofinalizeandimplementhebudget,thebudgetisadopted throughpasageofaresolutionpriortothecomencementofthefiscal yearforwhichthebudgetisbeingadopted. Budgetaryamendmentsinvolvingthetransferofundsfromone department,programorfunctiontoanotherorinvolvingincreasesin expendituresresultingfromrevenuesexcedingamountsestimated 6 requiretheaprovaloftheboardofaldermen. Albudgetaryapropriationslapseathendofeachfiscalyear Budgetsforalfundsareadoptedonabasisconsistentwithgeneraly aceptedacountingprinciples(gap).budgetedamountsareas originalyadoptedorasamendedbytheboardofaldermen.such amendmentswerenotmaterialinrelationtotheoriginalapropriations. interestresultingfromborowingsinthecourseoftheconstructionofcapitalasets ItisthepolicyoftheTownofOberlintocapitalizematerialamountsof intheproprietaryfunds.atjune30,204,therewasnocapitalizedinterest.

29 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) UseofEstimates aceptedacountingprinciplesrequiresmanagementomakestimatesand asumptionsthatafecthereportedamountsofasetsandliabilitiesandisclosureof Thepreparationofinancialstatementsinconformitywithgeneraly contingentasetsandliabilitiesathedateofthefinancialstatementsandthereported amountsofrevenuesandexpendituresduringthereportingperiod.actualresults couldiferfromthosestimates. valuationstotaling$5,515,340andwerededicatedasfolows: FortheyearendedJune30,204,taxesof1.70milswereleviedonpropertywithasesed Generalcorporatepurposes Debtservice 3.05mils 8.65mils 1.70mils $794 Totaltaxesleviedwere$64,240.AdvaloremtaxreceivableatJune30,204amountedto (3) DedicationofProcedsandFlowofFunds-1978and1989SalesandlseTax $132,619;203colections$130,538)arededicatedtothefolowingpurposes: Procedsofa1%salesandusetaxleviedbytheTownofOberlin(204colections operatingand/ormaintainingsewersandseweragedisposalworks,waterworks, strets,recreationalfacilitiesandfireprotectionfacilitiesandequipmențand Tobeusedforthepurposesofconstructing,acquiring,extending,improving, purchasingandacquiringthenecesaryland,equipmentandfurnishingsforanyofthe aforesaidpublicworks,improvementsandfacilities,orforanyoneormoresaid purposes;andshalthetownbefurtherauthorizedtofundtheprocedsofthetaxinto bondstobeisuedinseriesfromtimetotimeforthepurposeofdefrayingthecostsof constructing,improving,and/oracquiringanyoneormoreoftheaforesaidcapital improvementstothextentandinthemanerpermitedbythelawsoflouisiana.

30 NotestoBasicFinancialStatements(Continued) TOWNOFOBERLIN,LOUISIANA 203colections$38,92)arededicatedtothefolowingpurposes: Procedsofa.3%salesandusetaxleviedbytheTownofOberlin(204colections$39,614 operatingpublicstrets,sidewalks,andaleys.thirtypercentobeusedfor acquiring,constructing,improving,maintainingandoperatingrecreationalfacilities. Seventypercentobeusedforconstructing,improving,maintainingand TheTownofOberlinshalbefurtherauthorizedtofundtheprocedsofthetaxinto bondstobeisuedintoseriesfromtimetotimeforanycapitalpurposedescribed above,tothextentandinthemanerprovidedbylouisianalaw. (4) lawsofthestateoflouisiana,thelawsofanyotherstateintheunion,orthelawsoftheunited States.TheTownmayinvestincertificatesandtimedepositsofthestatebanksorganizedunder Understatelaw,theTownmaydepositfundswithinafiscalagentbankorganizedunderthe LouisianalawandnationalbankshavingprincipaloficesinLouisiana.AtJune30,204,theTown hadcashandinterest-bearingdeposits(bokbalances)totaling$724,807asfolows: Demandeposits Timeandmoneymarketacounts $245,328 Total $724, ,479 deposits,(ortheresultingbankbalances)mustbesecuredbyfederaldepositinsuranceorthepledge ofsecuritiesownedbythefiscalagentbank.themarketvalueofthepledgedsecuritiesplusthe Thesedepositsarestatedatcost,whichaproximatesmarket.Understatelaw,these federaldepositinsurancemustataltimesequaltheamountondepositwiththefiscalagentbank. Thesesecuritiesareheldinthenameofthepledgingfiscalagentbankinaholdingorcustodialbank thatismutualyaceptabletobothparties.depositbalances(bankbalances)atjune30,204were securedasfolows: Bankbalances Federaldepositinsurance $753,796 Pledgedsecurities(Category3) 40,205 TotalFDICinsuranceandpledgedsecurities $753, ,591 securitiesareheldbythebrokerordealer,orbyitstrustdepartmentoragent,butnotinthetown's PledgedsecuritiesinCategory3includeuninsuredorunregisteredinvestments,forwhich name.eventhoughthepledgedsecuritiesareconsidereduncolateralized(category3),louisiana RevisedStatute39:129imposesastatutoryrequirementonthecustodialbanktoadvertiseandsel thepledgedsecuritieswithin10daysofbeingnotifiedbythetownthathefiscalagenthasfailedto paydepositedfundsupondemand. 27

31 NotestoBasicFinancialStatements(Continued) TOWNOFOBERLIN,LOUISIANA (5)Receivables ReceivablesatJune30,204of$123,386consistofthefolowing: Acounts GeneralSalesTaxGovernmental Other Taxes: $41$- $- $108,64$109,085 Total Advalorem Interest Salestax 20612, Totals , $754 1,256 (6) DuefromOtherGovernmentalUnits fromthecoushatatribeoflouisianaforthetown'shareofgrantrevenuearnedthroughjune30, Theamountduefromothergovernmentalunitsintheamountof$7,961atJune30,204is 204.ThegrantrevenueisreceivedfromacompactagreduponbytheCoushataTribeandthe StateofLouisiana.TherevenuesarereceivedbytheTownofOberlindirectlyfromtheCoushata Tribe.ThecompactstatesthatheTownofOberlinistousethefundstoasistinthefurnishingof fireprotectiontothetribal-ownedcasinoresortinkinder,louisiana;toasistinthedevelopment, construction,maintenanceandrepairofapartmenthousing;toasistinfurnishingmunicipalpolice services;andtoasistintheconstruction,maintenanceandrepairofmunicipalinfrastructureand housing June30,204of$7,961wasdedicatedforpoliceprotectionandmaintenanceofmunicipal infrastructure. ĠrantrevenueforfiscalyearendedJune30,204was$324,545.Theamountreceivableat (7) RestrictedAsets-PronrietarvFundTvoes RestrictedasetsconsistedofthefolowingatJune30,204 Revenuebondandinterestsinkingacount Revenuebondreserveacount $8,214 Revenuebondcontingencyacount Customerdeposits-gas Customerdeposits-waterandsewer 26,260 5,360 Totalrestrictedasets 40,430 28

32 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) (8)CapitalAsets_ CapitalasetactivityfortheyearendedJune30,204wasasfolows 07/01/03 Balance AditionsDeletions Balance Governmentalactivities: 06/30/04 Capitalasetsnotbeingdepreciated: Othercapitalasets: Land $18,312$ $ $18,312 Buildings Infi"astmeture Vehicles 165,507 Equipment,furnitureandfixtures Lesacumulatedepreciation Totals 128,210 86,918 2,50 165,507 Buildings 1,53, ,38 109,841 Infrastructre Vehicles 141,580 12,341 Equipment,furnitureandfixtures 183,519 87,348 Govementalactivities, Totalacumulatedepreciation ,562 4, ,710 86, ,678 18,68 145,67 34, , ,036 80, ,935 Busines-typeactivities: capitalasets,net $1,039,276$31,515 Capitalasetsnotbeingdepreciated: Othercapitalasets: Land Constructioninprogres $7,24$ Gasystem 2,312,481 $ Waterandsewersystem Equipment 2,82, ,495 85,2632,397,74 $7,24 Lesacumulatedepreciation Gasystem Totals ,397,74 5,527,6722,483,072,397,74 Waterandsewersystem Equipment 258,421 Busines-typeactivities, Totalacumulatedepreciation 1,068,850 1,360,356 3, ,271 14,920 3,659 5,20, ,495 5,612,935 76,85 7,90 1,172, ,080 1,475,276 41,075 capitalasets,net $4,167,316$2,368,087$2,397,74$4,137,659 29

33 (9) (lo) TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) Depreciationexpensewaschargedtogovernmentalactivitiesasfolows: Generalgovernment Police Highwaysandstrets Totaldepreciationexpense Depreciationexpensewaschargedtobusines-typeactivitiesasfolows: GasWaterandsewer Totaldepreciationexpense $8,60 20,785 51,41 $5, ,056 Theacounts,salaries,andotherpayablesconsistedofthefolowingatJune30,204 Acounts Contractsandretainage Otherliabilities Totals GovernmentalBusines-type Activities Activities Total $16,290 4,573 $20,863 $13,4 19,063 5~393 $29,734 19,063 9,96 Thefolowingisasumaryoflong-termdebt~ansactionsoftheTownfortheyearended June30,204: Long-termdebtpayable,July1,203 Long-termdebtisued Long-termdebtretired Long-termdebtpayable,June30, Governmental Activities $276,0 75,0 (10,60) $250,40 Busines-Type Activ~ies $1,687,0 (6,714) $1,680,286

34 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) Long-termdebtpayableatJune30,204iscomprisedofthefolowingindividualisues: Capitalease- $75,0equipmentleasedatedMay28,203,dueinmonthlyinstalmentsof$2,29, includinginterestat5.10%,throughapril28,206,securedbygeneralfundrevenues$51,40 $275,0GeneralObligationBondsSeries190datedMarch1,190;dueinanual instalmentsof$20,0to$24,0throughmarch1,205;interestat7.4percent,secured bylevyandcolectionofadvaloremtaxes 24,0 Certificatesofindebtednes- CertificatesofIndebtednesSeries197datedJune1,197;dueinanualinstalmentsof $50,0to$60,0throughJune1,207;interestat5.5percent,securedbyGeneralFund revenues Sewerevenuebonds $1,687,0SewerRevenueBondsSeries203datedJanuary28,203;dueinmonthly instalmentsof$7,659throughjanuary28,2043;interestat4.5percent,securedbyutility Fundrevenues Thebondsandcertificatesaredueasfolows Yearending June30, Total GovernmentalActivities PrincipalInterest payments $103,818 86,582 60,0 payments $14,16 L601 3,30 $250,40$25, Busines-TypeActivities PrincipalInterest payments $16,635 17,40 18,19 19,035 19,909 14, , ,850 23,83 280, , ,287 $1,680,286 payments $75,273 74,508 73,709 72,873 71,9 345, ,64 280, , , ,716 24,72 $1,859,545

35 NotestoBasicFinancialStatements(Continued) TOWNOFOBERLIN,LOUISIANA (1)EmployeRetirement anditsemployescontributeapercentageofeachemploye'salarytothesystem(7.65% contributedbythetown,7.65%bythemployes).thetown'scontributionsduringtheyearsended AlemployesoftheTownofOberlinparticipateintheSocialSecuritySystem.TheTown June30,204,203and202amountedto$32,95,$34,015,and$29,714,respectively,equaltothe requiredcontributionforeachyear. acountsorinternalrevenuecodesection403bretirementacounts.thetownmatchesaportionof TheTownofOberlinemployesalsocontributetotax-deferedindividualretirement eachoftheseplansforemployes.retirementcontributionsforthetownamountedto$2,753and $3,349fortheyearsendedJune30,204and203,respectively.NeithertheTownoritsemployes areobligatedtomakecontributionsandthetownhasnofurtherliabilitytotheseretirementplans. Dataconcerningtheactuarialstatusoftheplansarenotavailable. RetirementSystem.ThisSystemisacost-sharing,multiple-employerdefinedbenefitpensionplan, TheChief-of-PoliceandonepoliceoficerbelongtotheMunicipalandStatePolice controledandadministeredbyaseparateboardoftrustes.pertinentinformationrelativetotheplan folows systemwhilethetownisrequiredtocontributethestatutoryrateof15.25percentofthetotalanual coveredsalary.thetown'scontributionstothesystemfortheyearsendedjune30,204,203,and Ṗlanmembersarerequiredtocontribute7.5percentoftheiranualcoveredsalarytothe 202were$10,37,$5,832,and$3,735,respectively,equaltotherequiredcontributionforeachyear. suplementalfinancialinformationmaybeobtainedbywritingtothemunicipalpoliceemploye's Apubliclyavailablefinancialreporthatincludesfinancialstatementsandrequired RetirementSystem,P.O.Box94095-CapitalStation,BatonRouge,Louisiana (12) SeLnentInformation-EnternriseFund providegas,water,andsewerservices.segmentinformationfortheyearendedjune30,204isas TheTownofOberlinmaintainstwoutilitydepartmentswithinitstwoenterprisefundswhich folows: Water Operatingrevenues DepartmentDepartment GasandSewer Enterprise Operatingexpenses $310,318$386,201$696,519 Total Fund Operatingincome(los) $(48,18)$34,562$(13,56) 358,436351,639710,075 32

36 3 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) (13)LitigationandClaims ofthetown'slegalcounsel,thexposuretothetownatjtme30,204isnotdeterminable. AtJune30,204,theTownisinvolvedinseveralawsuitsclaimingdamages.Intheopinion (14)ComnensationofTownOficials 30,204folows: AdetailofcompensationpaidtotheMayorandBoardofAldermenfortheyearendedJune Mayor: Aldermen: PhilipBeard $14,40 WilbertBery DewithCarier(JulyI,203-December3l,203) KeithGuilory(January1,204-June30,204) BeckyManuel MarkManuel JamesRyder Total propertyhazardsandworkers'compensation.aloftheserisksarehandledbypurchasing comercialinsurancecoverage.therehavebenosignificantreductionsintheinsurancecoverage TheTownisexposedtorisksoflosintheareasofhealthcare,generalandautoliability, duringtheyear. (16) ST-190bycreatingaseparateirevocabletrustfund.Theinvestmentsandfixedearningsfromthe investmentsaresuficientofulyservicethedefeasedebtuntilthedebtiscaledormatures.for Inprioryears,theTowndefeased$67,0ofoutstandingPublicImprovementBonds,Series financialreportingpurposes,thedebthasbenconsideredefeasedandtherefore,hasbenremoved asaliabilityfromthetown'sfinancialstatements.asofjune30,204,theamountofdefeased generalobligationdebtoutstandingbutremovedfromthefinancialstatementsamountedto$1,0.

37 TOWNOFOBERLIN,LOUISIANA NotestoBasicFinancialStatements(Continued) (17)InterfundTransactions A.ReceivablesandPayables 204InterfundreceivablesandpayablesconsistedofthefolowingatJune30 DuetotheGeneralFundfromtheUtilityFundsrepresenting DuetotheWaterandSewerUtilityFundfromtheGasUtilityFund short-termloans $6,415 foreimbursementforexpenditurespaid Total $2,150 15,735 Duefromotherfunds,BalanceShet-GovernmentalFunds Sumaryofbalancesduefromotherfundsreportedinfundfinancialstatements: Duefromotherfunds,StatementofNetAsets-ProprietaryFunds $6,415 Total $2,150 15,735 B.Transfers TransfersconsistedofthefolowingatJune30,204 Majorgovernmentalfunds: GeneralFund TransfersInTransfersOut Non-majorgovernmentalfunds SalesTaxSpecialRevenueFund $162,941 Proprietaryfunds: 49,851 GasUtilityFund WaterandSewerUtilityFund 59,52 $49, ,0 Total tocolecthemtothefundthatstatuteorbudgetrequirestoexpendthemandto(b)use unrestrictedrevenuescolectedinthegeneralfundtof'manevariousprogramsacountedfor Transfersareusedto(a)moverevenuesfromthefundthatstatuteorbudgetrequires inotherfundsinacordancewithbudgetaryauthorizations.

38 REQUIREDSUPLEMENTARY ~INFORMATION

39 ~ev~ues: Taxes Licensesandpermits Intergovernmental Finesandforfeits Miscelaneous Totalrevenues Expenditures: Curent- Generalgovernment Publicsafety-police Highwaysandstrets Capitaloutlay Debtservice Principalretirement Interestexpense Totalexpenditures TOWNOFOBERLIN,LOUISIANA GeneralFund BudgetaryComparisonSchedule YearEndedJune30,204 WithComparativeActualAmountsforYearEndedJune30, $6,450 4,0 389,50 10,0 15,30 615, ,30 359,0 176,150 $70,520 29,0 385,0 10,0 16,70 601,20 174~95 348, ,635 1,716 23,60 3, ,579 Actual $68,703 35, ,064 98,042 14, , , , ,593 12,341 23,60 3, ,062 Variancewith FinalBudget Positive (Negative) $(1,817) 6,756(936) (1,958) (2,058) (13) (15,518) (6,382) 3,042(625) 203 Actual $70,169 39, ,965 94,727 17, ,03 176, , , (19,483)815,595 Deficiencyofrevenues overexpenditures (104,20)(195,359)(214,85)(19,496)(214,562) Otherf'mancingsources(uses): ProcedsfromCapitalLease 75,075,0 TransferfromUtilityFunds 5,50120,014,941 Transferfi'omSalesTaxFund 160,0150,0148,0 TransfertoCemeteryFund (1,80)(2,0)(2,351) TransfertoDebtServiceFund (97,50)(47,50)(47,50) Totalotherfinancingsources(uses)l16,20295,5018,090 (105,059) (2,0) (351) (107,410) Exces(deficiency)ofrevenues andothersourcesover expendituresandotheruses 12,010,141(26,765)(126,906) Fundbalances,begining Fundbalances,ending $163,38$251,529$124, , ,0 (1,984) (97,50) 145,494 (69,068) 20,456 $151,38

40 37 TOWNOFOBERLIN,LOUISIANA SalesTaxSpecialRevenueFund BudgetaryComparisonSchedule WithComparativeActualAmountsforYearEndedJune30,203 YearEndedJune30, Variancewith Revenues: Final Actual FinalBudget Taxes Miscelaneous-interest $165,0 3,350 $165,50 2,50 Expenditures: Totalrevenues $172,23 (Negative) Positive 203 Actual 2,605 $6, $169,530 3, ,350168,0174,838 6, ,409 Curent- Generalgovernment: Colectionfes Excesofrevenuesover 3,392 expenditures 165,050164,0170,853 6, ,017 Otherfinancinguses: TransfertoUtilityFund TransfertoGeneralFund (50,0)(50,0) Totalotherfinancinguses (160,0)(150,0)(148,0) 2,0 2,0 (159,0) Excesofrevenuesover (159,0) Fundbalances,begining expendituresandotheruses5,050(36,0)(27,147) 172,723172,723172,723 8,853 1, ,706 Fundbalances,ending $17,73$136,723$145,576 $172,723

41 OTHERSUFPLEMENTARYFORMATION 38

42 39

43 TOWNOFOBERLIN,LOUISIANA GeneralFund WithComparativeActualAmountsforYearEndedJune30,203 BudgetaryComparisonSchedule-Revenues YearEndedJune30,204 Variancewith Taxes: Actual FinalBudget PosRive (Negative) 203 Actual Advalorem Franchise- Electric $14,0$18,50$16,657 Telephone Cable 37,0 8,20 Licensesundpermits Totaltaxes 7,250 6,450 40,30 4,30 70,520 7,420 40,145 $(1,843) $15,901 4,481 7,420 (15) ,69 9,320 4,029,0 68,703 35,756 (1,817) 7,249 6,756 70,169 39,604