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

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2 CA LD W ELL PA RISH PO LICE JU RY Colum bia.louisiana Prim ary G overnm entfinancialstatem ents W ith IndependentA uditor'sreport A sof and for the Y earended D ecem ber31,2002 W ith Supplem entalinform ation Schedules Statem ent Page N o. IndependentA uditor's R eport 3 Prim ary G overnm entfinancialstatem ents: Com bined Balance Sheet-A llfund Typesand A ccountg roups G overnm entalfund Type: C om bined Statem entof Revenues,Expenditures and Changesin Fund Balances Com bined Statem entof Revenues,Expenditures, and Changesin Fund Balances-Budget(GAAP Basis)and Actu al-generaland Special Revenue Funds(Excluding Crim inalcourtspecial Revenue Fund) N otesto the FinancialStatem ents Supplem entalinform ation Schedules C 9 11 Schedule Page N o. SpecialRevenue Funds: C om bining Balance Sheet C om bining Schedule of Revenues,Expenditu res and Changesin Fund Balances

3 CA LD W ELL PA RISH POLICE JU RY Contents,D ecem ber 31,2002 Supplem entalinform ation Schedules:(Contd.) SpecialRevenue Funds:(Contd.) M aintenance Funds: C O N T E N T S (CONTD.) C om bining Balance Sheet C om bining Schedule of Revenues,Expenditures and Changes in Fund Balances D ebtservice Funds: Com bining Balance Sheet Com bining Schedule of Revenues,Expenditu res and Changesin Fund Balances CapitalProjectsFunds: Com bining Balance Sheet C om bining Schedule of Revenues,Expenditu res and Changesin Fund Balances Schedule of Com pensation Paid Police Jurors IndependentA uditor's R eportsr equired by Governm enta uditing Standards: IndependentA uditor'sreporton Com pliance and Internal ControlO verfinancialreporting Schedule of Findingsand Questioned Costs Sum m ary Schedule of Prior A uditfindings

4 ERNON'~ OON= C[ITI~I~DPU~L[CICCOUNT~N? IndependentA uditor'sr eport M EMBER A MERICAN INSTITUTEOFC ERTIFIED PUBLIC ACCOUNTANTS SOCIETY OFLOUISIANA CER~F[ED PUBLIC ACCOUNTANTS PRAClCE LIMITED TO G OVERNMENTAL ACCOUNTING,AUDITING AND FINANCIALREPORTING 477 HIGHWAY 847, COLUMBIA, LOUISIANA TELEPHONE FAX vrcoon~aol.com CA LD W ELL PA RISH PO LICE JU RY Ihave audited the prim ary governm entfinancialstatem entsof the Caldw ellparish Police /ury,asof D ecem ber 31,2002,and for the year then ended,aslisted in the table of contents. These prim ary governm ent financial statem ents are the responsibility of the Caldw ellparish Police Jury'sm anagem ent.m y responsibility is to express an opinion on these prim ary governm entfinancialstatem entsbased on m y audit. Iconducted m y auditin accordance w ith U.S.generally accepted auditing standards and Governm entauditing Standards,issued by the Com ptroller G eneralof th e U nited States. Those standardsrequire th atiplan and perform the auditto obtain reasonable assurance aboutw hetherth e prim ary governm entfi~ancialstatem ents are free of m aterialm isstatem ent. A n auditincludes exam ining,on a testbasis, evidence supporting th e am ounts and disclosures in the prim ary governm ent financialstatem ents. A n auditalso includes assessing the accounting principles used and significantestim ates m ade by m ana gem ent,as w ell as evaluating th e overall financial statem ent presentation. I believe that m y audit provides a reasonable basisform y opinion. A prim ary governm ent is a legalentity or body politic and includes all funds, organizations,ins titutions,agencies,departm ents,and officesthatare notlegally separate. Such legally separate entitiesare referred to ascom ponentunits. In m y opin ion,th e prim ary governm entfinancialstatem entspresentfairly,in allm aterial respects,the financialposition of th e prim ary governm ent of Caldwell Parish Police Jury,asof D ecem ber31,2002,and the results of itsoperationsfor the year th en ended,in conform ity w ith U.S.generally accepted accounting principles. -3

5 CA LD W ELL PA RISH POLICE JU RY IndependentAuditor'sReport, D ecem ber 31,2002 H ow ever,the prim ary governm entfinancialstatem ents,because they do notinclude th e financialdata of com ponentunitsof the Caldw ellparish Police Jury,do notpurportto,and do not,presentfairly the fina ncialposition of the C aldw ellparish Police Jury atd ecem ber31,2002,and th e resultsof its operationsfor the yearthen ended in conform ity w ith U.S.generally accepted accounting principles. M y auditw as m ade for the purpose of form ing an opinion on the prim ary governm entfinancial statem entstaken asa whole. The supplem entalinform ation scheduleslisted in the table of contents are presented for th e purpose of additional analysis and are not a required part of the prim ary governm ent financialstatem ents of the Caldw ellparish Police Jury. Such inform ation has been subjected to the auditing procedures applied in the auditofthe primary governm entfinancial statem entsand,in m y opinion,isfairly presented in allm aterialrespectsin relation to the prim ary governm entfinancialstatem ents taken asa whole. In accordance w ith Governm entauditing Standards,Ihave also issued a reportdated M arch 31,2003, on m y consideration of the CaldwellParish Police Jury'sinternalcontrolover financialreporting and m y tests of its com pliance w ith certain provisions of law s,regulations,contracts and grants. That reportisan integralpartof an auditperform ed in accordance w ith Governm entauditing Standards thisreportin considering th e resultsof m y audit M arch 31,

6 PR IM A R Y G O VERN M EN T FIN A N CIA L STA TEM EN TS (OVE RVIEW ) - 5-

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8 CALDW ELL PARISH POLICE JURY G OV ERN M EN TA L FU N D TY PE St~ em e~ B Com bined Statem entof Revenues,Expenditures and Changesin Fund Balances Forthe Y earended D ecem ber SPECIAL DEBT CA PITAL TOTAL GENERAL REVENUE SERVICE PROJECTS (M EM ORA NDUM FUND FUNDS FUNDS FUNDS ONLY) REVE N UE S Taxes: A d valorem taxes Salesand use taxes O thertaxes,penalties,and interest Licensesand perm its Intergovernm entalrevenues: Federalfunds-federalgrants State fu nds: Parish transportation funds State revenuesharing (net) Severance taxes O ther state fu nds Localfunds Fees,charges,and com m issions for services Finesand forfeitures U se of m oney and property Other revenues Totalrevenues $184,842 $695, ,191 1,137,390 10,426 1, ,826 13, ,659 65, , , ,140 $88,115 69,077 94,141 I62,866 55,594 18,953 2~359,587 $879,994 1,325,581 12,138 80,629 $202, , ,181 68, , , , , , ,963 EXPEND ITU RE S Current: G eneralgovernm ent: Legislative Judicial Executive Elections Finance and adm inistrative O ther generalgovernm ent Public safety Public w orks H ealth and w elfare Culture and recreation Econom ic developm entand assistance 85,366 63, ,301 27,914 29, , ,349 57,780 71, ,586 21, ,589 94,753 1,301,302 46, , , , ,301 27,914 50, , ,102 1,301, , , ,146 (Continued) - 7-

9 Statem entb CA LDW ELL PARISH POLICE JURY C olum bia,louisiana G O V ERN M EN TAL FU N D TYPE C om bined Statem entof Revenues,Expenditures and Changesin Fund Balances,etc. SPECIAL DEBT CAPITA L TOTAL GENERA L REVENUE SERVICE PROJECTS (MEMORANDUM FUND FUN D S FUND S FUND S ONLY). EXPENDITURES (CONTD.) Current:(Contd.) Transportation D ebtservice: Principal Interest C apitalouday Totalexpenditures $20,088 16,000 5,250 95, $50,235 2,082~269 N ON E $180, $20,088 16,000 5, ,766 EX CESS O F RE VENU ES O VER EXPEND ITUR ES OTHER FINANCING SOURCES (Uses) Insurance recovery O perating transfersin Operating transfersout (38,998) Totalotherfinancing sources(uses) (38,998) 20, ,998 59,779 N ON E N ON E 20, ,998 (728,998) EX CESS O F RE VE NU ES AND O TH ER SO UR CES O V ER EX PEND ITURES AND OTHER USE (104,593) 337, ,061 1, ,978 FUND BALAN CES A T BEG INN IN G O F YEAR 1,252, N ON E FUND BALANCESAT END OF YEAR ~ ~ ~713,804 $1,413 $5,012,173 (Concluded) The accom panying notesare an integralpartof thisstatem ent - 8-

10 CALDW ELL PARISH POLICE JURY GOVERNM ENTAL FUND TYPE -GENERAL AND SPECIAL REVENUE FUNDS (Excluding CriminalCourtSpecialRevenueFund) Statem entc GENERAL FUND VARIANCE FAVORABLE BUDGET ACTUAL JUNFAVORABLE) BUDGET...SPECIAL REVENUE FUNDS... VAL ANCE FAVORABLE ACTUAL.,~NFAVORABLE) REVENUES Taxes: Ad valorem taxes Salesand use taxes O ther taxes,penalties, and interest Licensesand perm its Intergovernm e!ata lrevenues: Federalfunds-federalgrants State funds: Parish transportation fu nds Staterevenuesharing (net) Severance taxes Otherstate funds Localfu nds Fees,charges,and com m issions forservices Finesand forfeitures Use of m oney and property Otherrevenues Total revenues EXPENDITURES Current: Generalgovernm ent: Legislative Judicial Executive Elections Finance and adm inistrative O th ergeneralgovernm ent Public safety Pu blic works Health and welfare Culture and recreation $211, , $184, ,191 10,426 80,629 ($26,212) 11,191 (1,392) ,826 (228) 13, , ,772 69, ,180 29,864 29, , ,512 13, ,659 65, ,366 63, ,301 27,914 29, , ,349 (200) (56,790) 39, (5) (594) 5,599 3,879 1, ,069 13, , $644, ,00 130,000 56,344 $695, , , ,140 11,140 85,529 6,712 65,300 87,911 6,888 55,594 14~ , ,409. 2,197,069 $50,686 58,390 (2,819) (886) 2, (9,706) 4, ,660 2,500 1,450 1,050 83,183 95,092 1,497,141 47, , ,589 94,753 1,301,302 46, ,817 (41,406) , ,886 (Cominued) - 9-

11 CALDW ELL PARISH POLICE JURY GOV ERNM ENTA L FUN D TYPE -GENERAL AND SPECIAL REVENUE FUNDS (Excluding CriminalCourtSpecialRevenueFund) Com bined Statem entofrevenues,expenditures, and Changesin Fun d Balances-Budget (GAAP Basis)and Actual,etc. EXPENDITURES (Contd.) Current:(Contd.) Econom ic developm ent an d assistan ce Transportation D ebtservice: Principal Interest Capitaloutlay O ther expenditures Totalexpenditures GENERAL FUND VARIANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) $71, ,000 5, $71, Statem entc...special REV EN U E FUN DS... VAR/ANCE FAVORABLE BUDGET ACTUAL (UNFAVORABLE) $603 $14,157 $20,146 ($5,989) 1,775 16,000 5,250 95,289 (15,398) 81,045 50,235 30,810 1_ ,154 2,099,915 1,901,133 EXCESS (Deficiency)OF REVENUES O VER EXPEND ITURES 295, O TH ER FIN ANCIN G SOURCES (Uses) Insuran ce recovery Operating tran sfer in Operatin g transfersout Totalotherfinan cing sources(uses) (38,998) (38,998) (38~998) ~38,998) 20,781 20, , ,998 (690,000) (690,000) NONE ,779 NON E EXCESS (Deficiency)OF REVENUES AND O THER SOUR CES OVER EXPEND ITUR ES AND OTHER USES (99,874) (104,593) (4,719) 54, , ,442 FUND BALAN CES AT BEG INNIN G OF YEAR ,252, ,531 2,835, ,519 FUN D BALAN CES AT END OF YEAR $ $1,147,756 $1,117,685 $2,184,804 $ $1,005,961 (Concluded) The accom panying notesare an integralpartofthisstatem ent 10-

12 CA LDW ELL PA RISH PO LICE JU RY N otesto the FinancialStatem ents A sof and forthe Y earended D ecem ber31,2002 SUM M A R Y O F SIG N IFIC AN T A C CO UN TIN G PO LICIES The Caldw ell Parish Police Jury is th e governing authority forcaldw ellparish and is a political subdivision ofthestate oflouisiana.thepolicejury isgoverned by seven jurorsrepresenting the various districtswithin the parish. The jurorsserve four-yearterm swhich expire in January LouisianaRevised Statute 33:1236 givesthepolice jury variouspowersin regulating and directing the affairsof th e parish and itsinhabitants. The m ore notable of th ose are the pow ersto m ake regulations for theirow n governm ent,to regulate the construction and m aintenance of roadsand bridges,to regu late the constru ction and m aintenance of drainage system s,to regulate th e sale of alcoholic beverages,and to provide for the health and w elfare of the poor,disadvantaged,and unem ployed in the parish. Funding to accom plish these tasksisprovided by ad valorem taxes,salestaxes,beerand alcoholic beverage perm its,state revenue sharing,and variousoth er state and federalgrants. In accomplishing itsobjectives,the policejury also hasthe authority to create specialdistricts (componentunits)within the parish. The districtsperform specialized functions,such asfire protection, w ater distribution,sew erage collection and disposal,drainage control,library facilities,and health care facilities. A. REPO RTIN G EN TITY A sthe governing auth ority of the parish,for reporting purposes,the Caldw ell Parish Police Jury isthe financialreporting entity forcaldw ellparish.the financialreporting entity consistsof(a)the primary governm ent(police jury),(b)organizationsforwhich theprimary governmentisfinancially accountable,and (c)otherorganizationsforwhich the nature and significance of their relationship w ith th e prim ary governm entare such thatexclusion w ould cause the reporting entity'sfinancialstatem ents to be m isleading or incom plete. GovernmentalAccounting StandardsBoard (GASB)StatementNo.14 established criteria for determ ining w hich com ponent units should be com idered part of the Caldwell Parish Police Jury for financial reporting purp oses. The basic criterion for including a potentialcom ponentuni tw ith in th e reporting entity isfinancialaccountability.the G A SB has set forth criteria to be considered in determ ining financial account ability. This criteria includes: 1. Appointing a voting majority ofan organization'sgoverning body,and Theability ofthepolicejury to imposeitswillon that organization and/or - 11

13 CA LD W ELL PA RISH POLICE JU RY Notesto the FinancialStatements(Continued) b The potential for the organization to provide specific financialbenefits to orim pose specific financialburdens on the policejury. 2 Organizations for which the policejury does notappoint a voting majority butarefiscaly dependenton the policejury. O rganizationsforw hich the reporting entity financialstatem ent sw ould be m isleading if data of th e organization isnotincluded because of the nature or significance of the relationship. Based on thepreviouscriteria,thepolice jury hasdetermined thatthe following com ponentunitsare partof th e reporting entity: Com ponentu nit Thirty-Seventh JudicialD istrictc rim inalc ourt Gravity D rainage D istrict#1 Colum bia H eightsw aterw orks D istrict#1 EastColum bia W aterw orksd istrict Colum bia H eightssewerage D istrict K elly W aterw orksd istrict Crossroad W ater System EastColum bia Sewerage D istrict Colum bia H eightsfire D istrict Colum bia Eastside Fire D istrict C aldw ellparish: Sheriff A ssessor Clerk of Court Library H ospitalservice D istrict#1 H ousing A uth ority A irporta uthority Fire Protection D istrict#1 R ecreation D istrict Fiscal YearEnd D ecem ber 31 D ecem ber 31 D ecem ber31 D ecem ber 31 D ecem ber 31 October 31 D ecem ber 31 D ecem ber 31 D ecem ber 31 D ecem ber 31 June 30 D ecem ber 31 D ecem ber31 D ecem ber31 D ecem ber31 D ecem ber31 D ecem ber31 D ecem ber 31 D ecem ber 31 C riteria U sed 2 & 3 1 & 3 1 & 3 1 & 3 1 & 3 1 & 3 1 & 3 1 & 3 1 & 3 1 & 3 2 & 3 2 & 3 2 & 3 1 & 3 1 & 3 l & 3 l & 3 1 & 3 1 & 3 The police jury haschosen to issuefinancialstatementsofthe primary government (police jury) only;therefore,none of the previously listed componentunits,exceptas discussed in the follow ing paragraph,are included in th e accom panying prim ary governm ent financialstatem ents.

14 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) These primary government(police jury)financialstatementsinclude allfunds,account groups,and organizationsforwhich thepolice jury maintainsthe accounting records.the organizationsforwhich the police jury maintainsthe accounting recordsare considered part ofthe primary government(policejury)and include thecaldwelparish Library,the Caldwel Parish Recreation D istrict,and the Thirty-Seventh JudicialD istrictcrim inalcourt. G A SB Statem ent 14 provides for the issuance of prim ary governm ent financial statem ents that are separate from those of the reporting entity. H ow ever, the prim ary government's(policejury)financialstatementsarenotasubstitute forthe reporting entity's financialstatem ents. The accom panying prim ary governm entfinancialsta tem entshave been prepared in conform ity w ith generally accepted accounting principles as applied to governm entalunits. These financialstatem entsare notintended to and do notreporton the reporting entity in accordance w ith generally accepted accounting principles butrather are intended to reflectonly the financialstatementsofthe primary government(policejury). Considered in th e determ ination of com ponentunitsof the reporting ent ity w ere th e Caldw ellparish Police Jury,the D istrictattorney and Judge forthe Thirty-Seventh Judicial D istrict,th e C aldw ellc ouncilon A ging,and the variousm unicipalities in the parish. Itw as determ ined thatthese governm entalentitiesare notcom ponentunitsof th e Caldw ell Parish Police Jury reporting entity because they have separately elected governing bodies,are legally separate,and are fiscally independentof the Caldw ellparish Police Jury. B. FUN D A C CO UN TIN G Thepolicejury usesfundsand accountgroupsto reporton itsfinancialposition and the resultsof itsoperations. Fund accounting isdesigned to dem onstrate legalcom pliance and to aid financial m anagem ent by segregating trans actions related to certain governm ent fu nctions oractivities. A fund is a separate accounting entity w ith a self-balancing set of accounts that com prises itsassets,liabilities,fu nd equity,revenues,and expenditures. A n accountgroup, on th e otherhand,isa fina ncialreporting device designed to provide accountability forcertain assets and liabilities (generalfixed assetsand generallong-term obligations)thatare not recorded in the "fu nds"because they do notdirectly affectnetexpendable available financial resources. They are concerned onl y w ith the m easurem entof financialposition,notw ith th e m easurem entof results of operations. Funds are classified into three categories;governm ental,proprieta ry,and fiduciary. Each category,in tu rn,isdivided into separate "fund types". G overnm ental fu ndsare used to account for a governm ent's general activities, where th e focus of attention is on the providing of servicesto th e public asopposed to proprietary fu ndsw here the focusof attention - 13-

15 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatem ents(continued) ison recovering the costof providing servicesto the public oroth eragenciesthrough service chargesoruserfees.fiduciary fundsare used to accountforassetsheld forothers.the police jury'scurrentoperationsrequire the use ofgovernmentaland fiduciary funds.thefund types used by the policejury aredescribed asfollows: G overnm entalfunds: G eneralfund TheGeneralFund isthegeneraloperating fund ofthe policejury. It accounts for allactivities exceptth ose required to be accounted for in other fu nds. SpecialR evenue Funds Specialrevenue fu ndsare used to accountforthe proceedsof specific revenue sourcessuch asad valorem taxesand salestaxes.those revenuesare legally restricted by tax proposition to expendituresfor specified purposessuch asroad and drainage m aintenance and constru ction,library operation,hospital operation,etc. D ebtservice Funds D ebtservice fu ndsare used to accountforthe accum ulation of resources for and the paym entof principaland intereston generallong-term debt. CapitalProjects Funds These funds are used to accountfor financialresources to be used for theacquisition and/orconstruction ofmajorcapitalfacilities,improvements, and majorrepairs. Fiduciary Fund -SalesTax A gency Fund The SalesTax A gency Fund isused to accountfor salestax collectionsm ade foroth er fu ndsand governm entalunits.itiscustodialin nature (i.e.,assetsequalliabilities)and does notinvolve m easurem entof operations

16 CA LD W ELL PA RISH POLICE JU RY Notesto the FinancialStatements(Continued) C. G ENER AL FIXED ASSETS AND LO NG -TERM O BLIG ATIO NS G eneralfixed assetsare notcapitalized in the fundsused to acquire or constructthem. Instead,capitalacquisition and constru ction are reflected asexpenditures(capitaloutlay)in the governm entalfunds and th e related assets are reported in the generalfixed assets account group.a llpurchased fixed assetsare valued atcostw here historicalrecordsare available and estimated costwhereno historicalrecordsare available.thepolicejury'sgeneralfixed assets are valued atactualhistoricalcost. Approxim ately 54 per centof the library'sfixed assetsare valued atactualcostwhile the remaining 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 th e value of fixed assets orm aterially extend theirusefullivesare notcapitalized. Public dom ain (infrastructure) general fixed assets consisting of roads, bridges, drainage, parking lots, etc. are not capitalized,astheseassetsareimmovableand ofvalue only to thepolice jury. Long-term obligations,such as revenue bonds and certificates of indebtedness are recognized as a liability of a governm ental fund only when due. For other long-term obligations,such as com pensated absences,only thatportion expected to be fm anced from expendable,available financialresourcesisreported asa liability of a governm entalfund.the rem aining portion of such obligationsisreported in the generallong-term obligationsaccount group. D. B A SIS O F A CC O U N TIN G The financialreporting treatm entapplied to a fund isdeterm ined by itsm easurem ent focus. A ll governm ental funds are accounted for using a current financial resources m easurem entfocus. W ith thism easurem entfocus,onl y currentassetsand currentliabilities generally are included on the balance sheet. Operating statem ents for th ese fu nds present increases(i.e.,revenuesand otherfinancing sources)and decreases(i.e.,expendituresand otherfinancing uses)in netcurrentassets. The m odified accrualbasis of accounting isused forreporting allgovernm ent alfund types and th e fiduciary fu nd type agency fund. U nder 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" means the amountof the transaction can be determ ined and "available" m eans collectible w ith in th e current period or soon enough thereafterto beused to pay liabilitiesofthecurrentperiod.thepolicejury usesthefollowing practices in recogni zing and reporting revenues and expenditu res: - 15-

17 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) R evenues A d valorem taxesand the related state revenue sharing are recorded in the year the taxesare due and payable. A d valorem taxesare assessed on a calendar year basis and attach as an enforceable lien and becom e due and payable on th e date th e tax rolls are filed w ith the recorder of m ortgages. Louisiana Revised Statute 47:1993 requires that the tax rollbe filed on or before N ovem ber 15 of each year. A d valorem taxesbecom e delinquentif not paid by D ecem ber 31. The taxes are norm ally collected in D ecem ber of the currentyear and January and February of the ensuing year. Salestaxesarerecognized in the month received by thepolice jury's sales tax collection agent. Federaland state grants are recognized w hen the police jury isentitled to thefunds. Fines,forfeitu res,and courtcosts are recognized in tim year they are received by the parish tax collector. Interest incom e on tim e deposits is recognized w hen the tim e depositshave m atu red and the interestisavailable. Substantially all other revenues are recognized w hen they becom e available to the police jury. Based on the above criteria,ad valorem taxes,federaland state grants, and fines, forfeitu res, and court costs have been treated as susceptible to accrual. Expenditures Expenditu resare generally recognized underthe m odified accru albasis of accounting w hen th e related fund liability isincurred,exceptfor principal and intereston generallong-term obligations,w hich are recognized w hen due, and com pensated absences,w hich ar e recognized w hen paid. Other Financing Sources(Uses) Transfersbetw een fu ndsthatare notexpected to be repaid are accounted forasotherfinancing sources(uses)and are recognized when the underlying events occur

18 CA LD W ELL PA RISH POLICE JU RY Colum bia,i~ uisiana Notesto the FinancialStatements(Continued) E. BU D G ETA R Y PRA C TICES Prelim inary budgetsfor the ensuing yearare prepared by th e secretary/treasurer during O ctober of each year. D uring N ovem berthe finance com m ittee review sthe proposed budgets and m akes changes as itdeem s appropriate. The availability of the proposed budgets for public inspection and the date of the public hearing on the proposed budgets are th en advertised in the officialjournal.during itsregulardecembermeeting,the police jury holds a public hearing on the proposed budgetsin order to receive com m entsfrom residentsof th e parish. Changes are m ade to th e proposed budgets based on the public hearing and the desiresof the police jury asa whole.the budgetsarethen adopted during thepolicejury's regular D ecem ber m eeting,and a notice of the adoption is then published in the official journal. D uring the year, th e finance com m ittee receives m onthly budgeta ry com parison sta tem ents,w hich are used as a m anagem enttoolto controloperations of the parish. The secretary/treasurerpresentsnecessary budgetamendmentsto thepolice jury during theyear when,in hisjudgement,actualoperationsarediffering materialy from thoseanticipated in the originalbudget.during aregularmeeting,thepolicejury reviewstheproposed amendments, m akeschangesasitdeem snecessary,and form ally adoptsth e am endm ents. The adoption of theamendmentsisincluded in police jury minutespublished in theofficialjournal.the police jury exercises budgetary controlatthe functionallevel. W ithin functionallevels,the secretary/treasurerhasthe discretion to m ake am endm entsashe deem snecessary forproper control. The police jury doesnotutilize encumbrance accounting;however,the original budgets and any subsequent am endm ents are incorporated into the accounting system. U nexpended appropriations lapse atyear end and m ustbe reappropriated in the nextyear's budgetto beexpended.fortheyearended December31,2002,thepolicejury adopted GAAP based budgetsforthe G eneralfund and allspecialrevenue fundsexceptthe C rim ina lc ourt Fund. Budget com parison sta tem ents included in the accom panying financial statem ents include th e originaladopted budgetsand allsubsequentam endm ents. The follow ing schedule reconcilesthe excess(deficiency)ofrevenuesand othersourcesoverexpendituresand other uses,for specialrevenue fu nds,asshow n on the budgetcom parison Statem entc to the sam e am ounts show n on Statem entb : Excessof revenuesand othersourcesoverexpenditu res and otheruses(budgetary basis) $355,715 Adjustment-CriminalCourtFund notbudgeted (18,618) Excessof revenuesand oth er sourcesover expendituresand otheruses(gaap basis) - 17-

19 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) F. CASH AND CASH EQUIVALENTS Understatelaw,thepolicejury may depositfundsin demand deposits,interestbearing dem and deposits,m oney m arketaccounts,ortim e depositsw ith state banksorganized under Louisiana law and nationalbanks having principaloffices in Louisiana.A td ecem ber 31, 2002,thepolicejury hascash and cash equivalents(book balances),netofcash overdrafts, totaling $4,105,364 asfollows: D em and deposits Tim e deposits $660, Total These depositsare stated atcost,which approxim atesm arket. U nder state law,th ese deposits,orthe resulting bank balances,m ustbe secured by federaldepositinsurance orth e pledge of securitiesow ned by the fiscalagentbank.the m arketvalue of the pledged securities plusthe federaldepositinsurance m ustatalltim es equalthe am ounton depositw ith th e fiscal agent. These securitiesare held in the nam e of the pledging fiscalagentbank in a holding or custodialbank thatismutually acceptable to both parties. Cash and cash equivalents(bank balances)atdecember31,2002,are secured in totalasfollows: B ank Balances Federaldepositinsurance Pledged securities(uncollateralized) $491, Total Because the pledged securitiesare held by a custodialbank in the nam e of the fiscal agentbank ratherthan in thenameofthepolice jury,they areconsidered uncolateralized (Category 3) under the provisions of GASB Codification C20.106;however,Louisiana Revised Statu te 39:1229 im posesa statutory requirem enton th e custodialbank to advertise and selthepledged securitieswithin 10 daysofbeing notified by the policejury thatthe fiscal agentbank hasfailed to pay deposited fundsupon dem and. G. V A CA TIO N AN D SIC K LEAV E Thefollowing providesdetailon vacation and sick leavepoliciesofthe policejury library,and crim inalcourt: - 18-

20 CA LD W ELL PA RISH POLICE JU RY Notesto the FinancialStatements(Continued) Employeesofthe policejury and recreation districtmay accumulate up to 14 daysof annualleave each year w ith a m axim um accum ulation of 30 to 45 days,depending on their length of service. Em ployeesearn 10 days of sick leave each year and m ay accum ulate sick leave w ithout lim itation. U pon term ination,retirem ent,or resignation,em ployees are paid for accum ulated unused annualand sick leave up to a m axim um of 90 or 105 days,depending on their yearsof service. Em ployees of the C aldw ellparish Library accrue 10 to 22 days of annualleave each year,depending upon their professionallevel.em ployees w ith one to ten yearsof service m ay carry over a m axim um of 30 dayswhile em ployeesw ith m ore thatten yearsof service m ay carry overa m axim um of 45 days. Em ployees accruel0 days of sick leave each year,w hich m ay be accum ulated and carried forw ard w ithoutlim ita tion. Em ployeesare notpaid for unused accum ulated annualand sick leave atterm ination of em ploym ent. Em ployeesof the Thirty-Seventh JudicialD istrictcrim inalcourtearn from one to tw o w eeks of annualleave and 10 to 15 days of sick leave each year,depending on theirlength of serv ice. A nnualand sick leave can otbe accum ulated. A td ecem ber 31,2002,em ployees as outlined above,have accum ulated and vested $96,483 of employee leave benefits,computed in accordance with GASB Codification Section C 60. The liability is recorded w ithin the generallong-term obligations accountgroup. The costof leave privileges,com puted in accordance w ith the previouscodification, is recognized as a current-year expenditure w ithin the governm ental funds when leave is actually taken orwhen em ployeesare paid foraccrued sick leave upon retirem ent,w hile the costof leave privilegesnotrequiring currentresourcesisrecorded in the generallong-term obligations accountgroup. H. SA LES TA XES Caldwell Parish hasa fourpercentsalesand use tax. One percent (parish wide)is dedicated to the C aldw ellparish SchoolBoard. O f the rem aining three percent,one percent (parish wide)isdedicated to the debtserviceand operationsoftheparish hospital(citizens M edicalcenter);onepercent(parish wide,excluding thetown ofcolumbia)isdedicated to maintenance and construction ofroadsand bridgesand fire protection (0.25 percent),and solid waste collection/disposaland blacktop roads(0.75 percent)and;one percent(parish wide)isdedicated to operationsof the parish GeneralFund (0.25 percent)and;to solid waste collection and disposal,w ith any surplusto be used forthe construction and m aintenance of - 19-

21 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) hard surface roads(0.75 percent).the parish hospitaltax waspassed by votersoftheparish on A pril2,1977,foran indefinite period. The road,bridge,fire protection,and solid w aste tax w aspassed on October 19,1985,for an indefinite period. The solid w aste and G eneral Fund tax w aspassed on O ctober 3,1992,foran indefinite period. Thepolice jury hasan agreementwith the Concordia Parish SchoolBoard to collect parish salestaxes. The schoolboard'sta x departm entprovidescollection servicesfor a fee of one and one-quarter percentof am ountsactually collected,plusthe costof travel,supplies, and postage. Taxes collected for m aintaining and constructing roads and bridges, f'u'e protection and solid w aste collection and disposal,and G eneralfund operationsare deposited directly in the policejury'ssalestax account. Thepolice jury (SalesTax Agency Fund) distributesthe taxesto otherfundsand agencieson a m onthly basis,after deducting the above costs of collection. I. R ISK M A N A G EM EN T Thepolice jury isexposed to variousrisk oflossrelated to torts;theftof,damageto, and destru ction ofassets;errorsand omissions;and injuriesto employees. To handle such risk ofloss,thepolicejury maintainscommercialinsurancepoliciescovering automobile, w orkm en's com pensation and surety bond coverage. N o claim s w ere paid on any of the policiesduring the pastthree yearsw hich exceeded th e policies'coverage am ounts. There w ere no significantreductions in insurance coverage during the year ended D ecem ber 3 i, TO TA L C O LU M N S O N C O M BIN ED STA TEM EN TS Total colum ns on the com bined statem ents are captioned M em orandum O nly (overview)to indicate th atthey are presented only to facilitate financialana lysis.data in these colum nsdo notpresentfinancialposition orresultsof operationsin conform ity w ith generally accepted accounting principles.n eith erissuch data com parable to a consolidation. Interfund elim inationshave notbeen m ade in th e aggregation of thisdata. LEV IED TA XE S The follow ing isa sum m ary of authorized and levied ad valorem taxes fu rthe year -20-

22 CA LDW ELL PARISH POLICE JU RY Notesto the FinancialStatements(Continued) Parish w ide taxes: G eneralm aintenance H ealth U nitm aintenance Road M aintenance and Construction Library M aintenance Courthouse and JailM aintenance IndustrialPark and E991 Operation Recreation M aintenance Econom ic D evelopm ent Authorized Levied M illage M illage Expiration D ate 4.07 Indefini~ The difference between authorized and levied m illages is the result of reassessm ents of taxable property in the parish as required by A rticle 7,Section 18 of the Louisiana C onstitution of The follow ing schedule liststhetenprincipaltaxpayersforth eparish and th eir2002 assessedvaluation (am ountsexpressed in thousands): Percent 2002 of Total A ssessed A ssessed V aluation V aluation TexasG astransm ission Corp. Plum Creek Tim bercom pany,lp A TC South,LLC Entergy Louisiana,Inc. BellSouth H om eland FederalSavingsBank Sustainable Forests,LLC Caldw ellbank & TrustCom pany W ard'schevrolet-o ldsm obile,inc Entergy Louisiana,Inc. T otal $2,380 1,535 1,248 1,114 1,045 1, % 4.41% 3.59% 3.20% 3.OO% 2.93% 2.32% 2.32% 1.89% 1.62% 32.11% 3. RE C EIV A BLES The tbllow ing isa summ ar y of receivablesatd ecem ber 31,

23 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) Taxes: A d valorem Other Grants: Federal State Other Total General Fund Special Revenue Funds $174,256 $654, ,146 67, Capital Projects Fund $59,126 57,870 6, Total $828, , , $24 8,650 $728,095 $65,376 $1,042,121._ CH AN G ES IN G EN ER A L FIXED A SSETS The follow ing presentschangesin generalfixed assetsforthe year ended D ecem ber 31,2002 Balance January 1 A dditions D eletions Balance D ecem ber31 Police Jury: Land Buildings Road equipm ent Furniture and equipm ent Caldw ellfire D ist.n o.1 K elly W ater System H ebertfire D istrict K elly Fire D istrict Colum bia H eightsfire D ist. E.Colum bia W ater System Sub-total Library: Land Buildings Equipm entand furniture Books Sub-total $269,006 2,504, , ,922 3, , , , ,899 60, , ,476 76, r $91,614 16, , ($41,050) (3,241) (1,508) (1,508) $269,006 2,504,604 1,014, ,667 3, , , , , , , ,476 85, $6,022,655 $331,

24 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) PEN SIO N PLAN Substantially all em ployees of the Caldw ell Parish Police Jury are m em bers of the Parochial EmployeesRetirementSystem oflouisiana (System),a cost-sharing,multiple-employer defined 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.allemployeesofthe police jury are members of Plan A. A llperm anent em ployeesw orking atleasttw enty-eighthoursperw eek w ho are paid w holly orin part from parish funds and allelected parish officials are eligible to participate in the System. U nder Plan A, em ployeesw ho retire ator afterage 60 w ith atleast10 yearsof creditable service,atorafter age 55 w ith at least25 yearsof creditable service,or atany age w ith atleast30 yearsof creditable service are entitled to a retirem entbenefit,payable m onthly forlife,equalto 3 per centof theirfinalaverage salary foreach year of creditable service.h ow ever,for th ose em ployeeswho w ere m em bersof the supplem entalplan only before January 1,1980,the benefitisequalto one percentoffinalaverage salary plus $24 foreach year of supplem ental-plan-only service earned before January 1,1980,plus3 percentof final-average salary foreach salary foreach year of service credited afterthe revision date.fina laverage salary isthe em ployee'saverage salary overthe 36 consecutive orjoined monthsthatproducethe highestaverage.employeeswho terminate w ith atleastth e am ountof creditable service stated above,and do notw ith draw th eir em ployee contributions, m ay retire atthe ages specified above and receive the benefits accrued to their date of term ination. The system also providesdeath and disability benefits. Benefitsare established oram ended by state statute. The System issuesan annualpublicly available reportthatincludesfinancialstatem entsand required supplem entary inform ation for th e System. That report m ay be obtained by w riting to the Parochial Em ployees'retirem entsystem of Louisiana,PostO ffice Box 14619,Baton Rouge,Louisiana , orby calling (504) U nder Plan A,m em bers are required by state statute to contribute 9.50 per centof th eir annual covered salary and the C aldw ellparish Police Jury isrequired to contribute atan actuarially determ ined rate. The currentrate is7.75 percentof annualcovered payroll. Contributionsto the system also include onefourth ofone percent(exceptorleansand EastBaton Rouge Parishes)of the taxesshown to be collectible by th e tax rolls of each parish. These tax dollars are divided betw een Plan A and Plan B based proportionately on th e salaries of th e active m em bers of each plan. The Caldw ellparish Police Jury's contributionsto th e System underplan A forthe yearsending D ecem ber31,2002,2001,and 2000, w ere $47,889,$47,217,and $46,073,respectively,equalto the required contributionsforeach year.contribution requirem entsof plan m em bersand th e CaldwellParish Police Jury are established and m ay be am ended by sta te statu te. A sprovided by Louisian a Revised Statute 11:103,the em ployer contributionsare determ ined by actuarialvaluation and are subjectto changeeach yearbased on theresultsofthevaluation forthe prior fiscalyear. -23-

25 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) 6. C H A N G ES IN G EN ER A L LO N G -TERM O BLIG ATIO N S 2002 The follow ing is a sum m ary of long-term obligation transactions for the year ended D ecem ber 31 Long-term obligations,january Ist A dditions Reductions Adjustment Bonds $360,000 C ertificatesof Indebtedness $325,000 (175,000) (96,000) Com pensated Absences Total $83,416 $768,416 39,134 39,134 (45,945) (316,945) Long-term obligations,december3pt $18...~ 5,000 $229,000 $96,483 $510,483 The adjustmentisto adjustthe ending liability forcompensated absencesforchangesin pay ratesand lim itationson the num ber of days for which an em ployee can be com pensated. Revenue bondsand certificatesof indebtednesspayable atd ecem ber 31,2002,are com prised of the follow ing individualissues: HospitalRevenue Bonds-$2,300,000 -Public im provementbond issue April1,1978,due in annualinstallmentsof$15,000 to $185,000 through A pril2003;interestat5.0 to 6.0 per cent. D ebtretirem entpaym entsare made from the HospitalBond Fund. $185,000 CertificatesofIndebtedness-$85,000 issue ofnovember6,2000,tbrthe purpose of acquiring and constructing im provem ents,including buildings, atthe parish industrialpark. The principalisdue in annualinstallm entsof $15,000 to $19,000 through M arch 1,2005,with interestat7.5 percent. D ebtretirem entpaym entsare m ade from the IndustrialInducem entbond Fund. 54,000 Certificatesof Indebtedness-$690,000 issue of January 3,1994,forthe purpose of constructing a new health unitin C aldw ellparish.the principal isdue in annualinstallmentsof$50,000 to $90,000 through February 15, 2004 w ith interestat5.00 to 7.25 percent.d ebtretirem entpaym entsare m ade from the H ealth U nitsinking D ebtservice Fund Total $414,000 The an ualrequirem entsto am ortize allbonded debtoutstanding atd ecem ber 31,2002,including interestpaymentsof $26,562,are asfollows: -24-

26 CA LD W ELL PA RISH PO LICE JU RY Notesto the FinancialStatements(Continued) Y ear Tota l H ospital Bond $190,550 Certifica~ sof Indebtedness $115,550 $114,037 20,425 $250,012 Asshown on StatementA,$427,280,isavailable in debtservice fundsto service the bondsand certificatesof indebtedness. D UE FR O M /TO O TH ER FUN D S Individualfund balancesdue from /to otherfundsatd ecem ber 31,2002,are as follow s G eneralfund SpecialRevenue Funds: Road M aintenance C ourthouse and Jail IndustrialOperation Recreation H ealth U nit Library Solid W aste M anagem ent Crim inalc ourt SalesTax A gency Fund Total Due from O ther Funds $45,634 18,585 3,586 2,375 5,927 2,352 7,760 76,506 D ue to O ther Funds $31,385 28, LITIG ATIO N AN D CLAIM S AtDecember31,2002,thepolice jury isinvolved in severallawsuits.in theopinion ofthedistrict atorney,legalcounselforthe policejury,resolution ofthesuitswould notmaterialy affectthe financial position ofthe police jury.

27 CA LD W ELL PA RISH POLICE JU RY Notesto the FinancialStatements(Continued) SALE S T AX AG EN CY FUN D -CH AN G ES IN A SSETS A N D LIA BILITIE S The follow ing schedule presentschangesin assetsand liabilitiesof the Sales Tax Fund for the year ended D ecem ber 31,2002: A ssets: Cash A ccountsreceivable T otala ssets Liabilities: A ccountspayable D ue to other funds D ue to others TotalLiabilities Balance January 1 $106,685 N O N E $106,685 $2, ,062 2,304 $10 _._6,685 A dditions $2,532 1,427,702 30,148 $1,460,382 D eletions ($1,460,448) (1~460,382) ($2,920,830) ($3,130) (1,427,166) (30,152) ($1,460,448) Balance D ecem ber31 $106,619 N O N E $1, , FUN D D EFIC IT AtDecember31,2002,the Crim inalcourtspecialrevenue fund hasa deficitfund balance of$41,565 The policejury,districtcourtjudge,and districtatorney wilestablish aplan to eliminatethedificit. 11. D EFE R R ED R E VE NU 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 setlement. Ifthetaxpayerprevails,the escrow fu ndswillbe used to refund thatamount ordered by the court.if the taxpayerdoesnotprevail,the taxesheld in escrow w illbe recognized asrevenue atthattim e. 12. C O R RE C TIO N O F PR IO R PER IO D Beginning fund balancesforthegeneralan selected specialrevenuefundshavebeen adjusted to accountfor prior yearerrorsm ade in recording ad valorem tax revenue and accountspayable.the follow ing reconcilesending fu nd balances,aspreviously reported,w ith the am ountsshow n on Statem entb : -26-

28 CA LD W ELL PA RISH POLICE JU RY Notesto the FinancialStatements(Continued) Fund balancesaspreviously reported Adjustmentsfor: A d valorem tax revenue A ccountspayable Beginning fund balancesasshow n on Statem entb G eneral Fund Special Revenue Funds $1,263,311 $2,829,995 (4,777) (6,185) (17,892)

29 SU PPLEM EN TA L IN FO RM A TIO N SCH ED U LES - 28-

30 CA LD W ELL PAR ISH PO LICE JU RY SU PPLEM EN TA L IN FORM A TIO N SCH ED U LES A sof and for the Year Ended D ecem ber31,2002 R O A D M A IN TEN AN CE FUN D SPECIA L REV EN U E FU N D S The Road M aintenance Fund accounts for the m aintenance of the parish highw ays, streets, and bridges. Financing isprovided by the State of Louisiana Parish Transportation Fund,sales and use taxes, a parish w ide ad valorem tax,and state revenue sharing. C O UR TH O U SE AN D JA IL M A IN TEN AN CE FUN D The Courthouse and JailM aintenance Fund accountsforthe m aintenance and operation of the parish courthouse and jail.financing isprovided by aparish widead valorem tax. IN D U STR IAL O PER A TIO N FUN D The IndustrialO peration Fund accounts for th e m aintenance of the parish-ow ned industrialdistrict. Financing isprovided by a parish wide ad valorem tax. Any excessof fundsovera $50,000 reserve in the fu nd can be used for im proving,m aintaining,and operating the parish 911 em ergency com m unications system. RE CRE A TIO N FUN D The Recreation Fund accountsfor th e m aintenance of the parish-ow ned recreation facility.financing is provided by parish w ide ad valorem tax, state revenue sharing, interest earnings, dues, fees, and com m issions. H EA LTH UN IT M A IN TEN A N CE FUN D The H ealth U nitm aintena nce Fund accountsfor th e m aintenance and operation of the parish health unit. Financing isprovided by a parish w ide ad valorem tax. 29-

31 LIBR A RY FUN D The Library Fund accounts for the m aintenance and operation of the Caldwell 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 U R T FUN D The Crim inalcourtfund isestablished under Section of Title 15 of the Louisiana Revised Statutesof 1950,w hich providesthatfinesand forfeituresim posed by the districtcourtsand districtattorney and conviction fees in crim inalcases be transferred to the parish treasurer and deposited into a special C rim inalcourtfund accountto be used for the expensesof the crim inalcourtof the parish. Expenditures aremade from the fund on motion ofthedistrictatorney and approvalofthe districtjudge.thestatutealso requiresthatone-half of the funds(fund balance)remaining in the Crim inalcourtfund atdecember31of each yearbe transferred to the parish G eneralfund. SO LID W A STE FUN D The Solid W aste M anagem ent Fund account sfor the collection and disposition of th e parish'sgarbage and w aste. Financing isprovided by salesand use taxes. W ITN ESS FEE FUN D The W itnessfee Fund paysw itn essfeesforlaw enforcem ent officerswho appear in courtwhile offduty. Financing ism ade available through courtcostsdesignated forthispurposes. 911 FUN D The 911 Fund account s for the establishm ent,m aintenance and operation of the 911 em ergency telephone system forcaldwellparish.financing isprovided by a 5 per centservice charge on localtelephone service w ithin the parish. -30-

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38 CALD W ELL PA RISH POLICE JU RY SU PPLEM EN TA L IN FO RM A TIO N SCH ED U LES A sof and for the Year Ended D ecem ber31,2002 D EBT SERV ICE FU N D S H O SPITA L SIN K IN G FUN D The H ospitalsinking Fund accum ulatesm oniesforretirem entof the M arch 6,1978,bond issue used to constructthe parish hospital. Financing isprovided by salesand use tax. H EA LTH UN IT SIN K IN G FUN D The H ealth U nit Sinking Fund accum ulates m onies for retirem entof the 1994 certificates of indebtednessissued to constru ctthe parish health unit. Financing isprovided by transfersfrom H ealth U nitm aintenance Fund. H EA LTH UN IT BO ND RE SERVE The Health UnitBond Reserve Fund maintainsa m inimum reserve of $50,000 asrequired by the 1995 certificates of indebtedness to be used solely for the purpose of paying principaland intereston certificateswhich w ould oth erw ise be in default

39 CA LD W ELL PA RISH PO LICE JU RY D EBT SERV ICE FU N D S Schedule 5 Com bining Balance Sheet,D ecem ber31,2002 H OSPITAL SINKING H EALTH U NIT SINKING H EA LTH UN IT RESERVE TOTAL A SSETS Cash and cash equivalents LIABILITIES AND FUND EQUITY Liabilities:M atured principal and interestpayable Fund Equity -fund balancesreserved for debtservice TO TA L LIA BILITIES AND FUND EQUITY $316,655 $91,324 $80,052 $488,031 $60,751 $60, $316,655 $91,324 $80,052 $488,

40 CA LD W ELL PA RISH PO LICE JURY D EBT SERV ICE FU N D S Schedule 6 C om bining Schedule of Revenues,Expenditu res and Changesin Fund Balances For the Year Ended D ecem ber HEALTH HEALTH HOSPITAL UNIT UNIT SINKING SINKING RESERVE TOTAL REV EN U ES State funds U se of m oney and property Totalrevenues $12, $88,115 lr678 89,793 $88,115 $ , EX PEN D ITU RE S D ebtservice: Principal Interestand other charges Totalexpenditures 175,000 16, ,000 15,175 95, , N O N E EXCESS (Deficiency)OF RE VE NUES OVE R EXPENDITURES (178,709) (5,382) 4,628 (179,463) FUND BALAN CES AT BEG INN ING O F YEAR FUN D BA LA N C ES A T END O F Y EA R ,