ANUALFINANCIALSTATEMENTS. VILAGEOFANACOCO FortheYearEndedJune WITHAUDITOR'SREPORT

Transcription

1 ANUALFINANCIALSTATEMENTS VILAGEOFANACOCO FortheYearEndedJune WITHAUDITOR'SREPORT

2 VILAGEOFANACOCO,LOUISIANA ANUALFINANCIALREPORT TABLEOFCONTENTS JUNE30,203 Statements SchedulesPage(si INDEPENDENTAUDITOR'SREPORT GENERAl_PURPOSEFINANCIALSTATEMENTS 1-2 (COMBINEDSTATEMENTSOVERVIEW) Combinedbalanceshet-alfundtypes Statementofrevenues,expenditures, andacountgroups A andchangesinfundbalancesgovernmentalfundtype Statementofrevenues,expenditures, andchangesinfundbalancesbudget (GAPbasis)andactualgovernmentalfundtype 6 Notestothefinancialstatements 7-13 SUPLEMENTALINFORMATIONSCHEDULES GeneralFund: Balanceshet Scheduleofrevenues,expenditures, andchangesinfundbalancesbudget Scheduleofexpenditurescomparedto (GAPbasis)andactual Scheduleofcompensationpaidtoboardmembers budget(gapbasis) GeneralFixedAsetsAcountGroup: Scheduleofgeneralfixedasets ReportonComplianceandonInternalControl Scheduleofchangesingeneralfixedasets OverFinancialReportingBasedonanAudit offinancialstatementsperformedinacordance withgovernmentaudititnst~m&~rds 24-25

3 JohnA.Windham,CPA APrqfesionalCorporation 1620NorthPineStret DeRider,LA70634 JohnA.Windham,CPA Tel:(37) Fax:(37) INDEPENDENTAUDITOR'SREPORT TheHonorableLeRoyColey,Mayor VilageofAnacoco,Louisiana andthemembersofthevilagecouncil IhaveauditedtheacompanyingeneralpurposefinancialstatementsoftheVilageofAnacoco Louisiana,asofandfortheyearendedJune30,203,aslistedinthetableofcontents.These generalpurposefinancialstatementsaretheresponsibilityofthevilageofanacoco,louisiana, managemer~t.myrespor~s~,~j,~,ty!,st~expresar~op~,n~,or~or~tlaesegeaeralpurposefmacia[ statementsbasedonmyaudit. IconductedmyauditinacordancewithauditingstandardsgeneralyaceptedintheUnited StatesofAmericandthestandardsaplicabletofinancialauditscontainedinGovermnent AtMitingStandards,isuedbytheComptrolerGeneraloftheUnitedStates.Thosestandards requirethatiplanandperformtheauditobtainreasonableasuranceaboutwhetherthe generalpurposefinancialstatementsarefreofmaterialmistatement.anauditincludes examining,onatestbasis,evidencesuportingtheamountsandisclosuresinthegeneral purposefinancialstatements.anauditalsoincludesasesingtheacountingprinciplesused andsignificantestimatesmadebymanagement,aswelasevaluatingtheoveralgeneralpurpose financialstatementpresentation.1believethatmyauditprovidesareasonablebasisformy opinion. Inmyopinion,thegeneralpurposefinancialstatementsreferedtoabovepresentfairly,inal materialrespects,thefinancialpositionofthevilageofanacoco,louisiana,asofjune30, 203,andtheresultsofitsoperationsfortheyearthenendedinconformitywithacounting principlesgeneralyaceptedintheunitedstatesofamerica. InacordancewithGovel7lmentAuditingSlandards',Ihavealsoisuedmyreportdated November21,203onmyconsiderationoftheVilageofAnacoco'sinternalcontrolover financialreportingandmytestofitscompliancewithcertainprovisionsoflaws,regulations, contractsandgrants.thatreportisanintegralpartofanauditperformedinacordancewith GovetwmentAuditingStandardsandshouldbereadinconjunctionwiththisreportin consideringtheresultsofmyaudit.

4 Myauditwasconducted~brthepurposeoforminganopiniononthegeneralpurposefinancial statementstakenasawhole.theindividualfundandacountgroupfinancialstatementsand scheduleslistedinthetableofcontentsarepresentedforpurposesofaditionalanalysisandare notarequiredpartofthegeneralpurposefinancialstatementsofthevilageofanacoco, Louisiana.Suchinformationhasbensubjectedtotheauditingproceduresapliedintheaudit ofthegeneralpurposefinancialstatementsand,inmyopinion,isfairlypresentedinalmaterial respectsinrelationtothegeneralpurposefinancialstatementstakenasawhole. DeRider,Louisiana November21,203 2

5 GENERALPURPOSEFINANCIALSTATEMENTS (COMBINEDSTATEMENTS-OVERVIEW) 3

6 VILAGEOFANACOCO StatementA COMBINEDBALANCESHET-ALFUNDTYPESANDACOUNTGROUPS JUNE30_203 Govemental FundType General Cash ASETS GeneralFund Asets AcountGroups Fixed Long-Term GenerN Debt (Memorandum Totals Only) Franchisetaxreceivable 76,174 Prepaidinsurance Grantreceivable 10,0 1,271 Land Buildings 17,739 Improvementsotherthan 43_897 17,739 5,303 43_897 Equipment buildings 237,624 Amountobeprovidedfordebtservice 51_ ,624 Totalasets ,806 $92,748$351,06$8,95$452,809 8,95 LIABILITIESANDFUNDEQUITY LIABILITIES Payroltaxespayable Acountspayable 1,85$ Mortgagenote 961 Totaliabilities , ,816$ $8,95$1,81 8_95 FUNDEQUITY Investmentingeneral Fundbalance-unreserved fixedasets $351,06$ $351,06 andundesignated Totalfundequity $89,93$351,06$ $40,9 89,93 Totaliabilities andfundequity $92,749$351,06$8,95$452,810 Theacompanyingnotesareanintegralpartofthistatement -4-

7 VILAGEOFANACOCO StatementB CHANGESINFUNDBALANCES-GOVERNMENTALFUNDTYPE STATEMENTOFREVENUES,EXPENDITURES,AND FortheyearendedJune30,203 REVENUES Taxes Licensesandpermits 15,96 lntergovernmental 28,702 Finesandforfeits Saleofaset 48,757 10,60 Miscelaneous 1, Totalrevenues EXPENDITURES Generalgovernment Publicsafety 51,402 Publicworks 31, Totalexpenditures Exces(deficiency)ofrevenues overexpenditures 5,947 Fundbalance,begining Fundbalance,ending Theacompanyingnotesareanintegralpartofthistatement -5-

8 VILAGEOFANACOCO StatementC STATEMENTOFREVENUES,EXPENDITURES,ANDCHANGESIN FUNDBALANCES-BUDGET(GAPBASIS)ANDACTUAL- GOVERNMENTALFUNDTYPE YearendedJune REVENUES Taxes LicensesandPermits Intergovemental Finesandforfeits Saleofaset Miscelaneous Totalrevenues EXPENDITURES Generalgovernment Publicsafety Publicworks BUDGET ACTUAL 15,960 27, , ,96 28,702 10,60 48,757 1, VARIANCE FAVORABLE (UNFAVORABLE) 6 1,342 10, ,235 $98,890$108,384$ 9,494 48,716 28,45 21,465 Totalexpenditures $98,626 Exces(deficiency)of revenuesoverexpenditures Fundbalance,begining Fundbalance,ending ,986 84,250 51,402 31,703 19,32 $ ,947 83,986 89,93 (2,686) (3,258) 2,13 5,683 5,683 Theacompanyingnotesareanintegralpartofthistatement. -6-

9 NOTESTOTHEFINANCIALSTATEMENTS AsofandfortheYearEndedJune30,203 VILAGEOFANACOCO,LOUISIANA INTRODUCTION TheVilageofAnacoco,Louisianawasincorporatedin1980undertheprovisionsofthe LawrasonAct.TheVilageoperatesunderaMayor-BoardofAldermenformof government. TheacountingandreportingpoliciesoftheVilageofAnacococonformtogeneraly aceptedacountingprinciplesasaplicabletogovernments.suchacountingand reportingproceduresalsoconformtotherequirementsoflouisianarevisedstatutes 24:517andtotheguidesetforthintheLouisianaMunicipalAuditandAcountin~ Guide,andtotheindustryauditguide,AuditsofStateandLocalGovernmentalUni TheVilagemaintainsageneralfundthatprovidespoliceprotectionforitscitizensand repairsandmaintenanceofaproximately25milesofroadsandstrets. TheVilageislocatedwithinVernonParishinthesouthwesternpartoftheStateof Louisianandiscomprisedofaproximately90residents.Thegoverningboardis composedofthrelectedaldermenthatarecompensatedfortheregularandspecial boardmetingstheyatend.therearethremployesthatprovidepoliceprotectionand 1.SUMARYOFSIGNIFICANTACOUNTINGPOLICIES performclericaldutiesforthevilage. A.BASISOFPRESENTATION TheacompanyingfinancialstatementsoftheVilageofAnacocohavebenpreparedin confbnitywithgeneralyaceptedacountingprinciples(gap)asapliedto governmentalunits.thegovernmentalacountingstandardsboard(gasb)istheacepted standardsetingbodyforestablishingovernmentalacountingandfinancialreporting principles. B.REPORTINGENTITY Asthemunicipalgoverningauthority,foreportingpurposes,theVilageofAnacoco, Louisianaisconsideredaseparatefinancialreportingentity.TheVilageofAnacoco,which istheprimarygovernment,doesnothave(a)organizationsforwhichtheprimary governmentisfinancialyacountable,and(b)otherorganizationsforwhichnatureand significanceoftheirelationshipwiththeprimarygovernmentaresuchthatexclusionwould causethereportingentity'sfinancialstatementstobemisleadingorincomplete,thereforethe Vilageisalsothefinancialreportingentity. 7

10 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED) VILAGEOFANACOCO,LOUISIANA C.FUNDACOUNTING Themunicipalityusesfundsandacountgroupstoreportonitsfinancialpositionandthe resultsofitsoperations.fundacountingisdesignedtodemonstratelegalcomplianceand toaidfinancialmanagementbysegregatingtransactionsrelatingtocertaingovernment functionsoractivities. Afundisaseparateacountingentitywithaself-balancingsetofacounts.Ontheother hand,anacountgroupisafinancialreportingdevicedesignedtoprovideacountabilityfor certainasetsandliabilitiesthatarenotrecordedinthefundsbecausetheydonotdirectly afectnetexpendableavailablefinancialresources. Thefundofthemunicipalityisclasifiedasagovernmentalfund.Thefundclasification andadescriptionofthegeneralfundfolows: GovernmentalFund Thegovernmentalfundisusedtoacountforalormostofthemunicipality'sgeneral activities,includingtheacquisitionorconstructionofgeneralfixedasets.the governmentfundincludes: 1.GeneralFundthegeneraloperatingfundofthemunicipalityandacountsforal financialresources,excepthoserequiredtobeacountedforinotherfunds. D.BASISOFACOUNTING Theacountingandfinancialreportingtreatmentapliedtoafundisdeterminedbyits measurementfocus.thegovernmentalfundisacountedforusingacurentfinancial resourcesmeasurementfocus.withthismeasurementfocus,onlycurentasetsandcurent liabilitiesaregeneralyincludedonthebalanceshet.operatingstatementsofthefund presentincreasesandecreasesinetcurentasets.themodifiedacrualbasisof acountingisusedbythegovernmentalfund.thegovernmentalfundusesthefolowing practicesinrecordingrevenuesandexpenditures: Revenues Revenuesarerecognizedwhentheybecomemeasurableandavailableasnetcurent asets.taxpayerasesedincomeandgrosreceiptsareconsidered"measurable"when inthehandsofcolectingovernmentsandarerecognizedasrevenueathatime. Anticipatedrefundsofsuchtaxesarerecordedasliabilitiesandreductionsofrevenue whentheyaremeasurableandtheirvaliditysemscertain.

11 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED) VILAGEOFANACOCO,LOUISIANA E~penditures Expendituresaregeneralyrecognizedunderthemodifiedacrualbasisofacounting whentherelatedfundliabilityisincured.anexceptiontothisgeneralroleisprincipal andinterestonlong-termdebtisrecognizedwhendue. OtherFinancin~Sources(Uses Transfersbetwenfundsthatarenotexpectedtoberepaid(andanyotherfinancing E.BUDGET source/use)areacountedforasotherfinancingsources(uses). Theprimarygovernmentmunicipalityusesthefolowingbudgetpractices 1.3"heVilageClerkpreparesaproposedbudgetandsubmitsitotheMayorandBoard ofaldermenolaterthanfiftendayspriortothebeginingofeachfiscalyear. Asumaryoftheproposedbudgetispublishedandthepublicnotifiedthathe proposedbudgetisavailableforpublicinspection.athesametime,apublichearing iscaled~ 3.Apublichearingisheldontheproposedbudgetatleastendaysafterthepublication ofthecalforthehearing. Aftertheholdingofthepublichearingandcompletionofalactionecesaryto finalizeandimplementhebudget,thebudgetisadoptedthroughpasageofan ordinancepriortothecomencementofthefiscalyearforwhichthebudgetisbeing adopted. Budgetaryamendmentsinvolvingthetransferofundsfromonedepartmențprogram orfunctiontoanotherorinvolvingincreasesinexpendituresresultingfromrevenues 6.Albudgetaryapropriationslapseathendofeachfiscalyear excedingamountsestimatedrequiretheaprovaloftheboardofaldermen. 7.ThebudgetfortheGeneralFundisadoptedonabasisconsistentwithgeneraly aceptedacountingprinciples(gap).budgetedamountsareasoriginaly adopted,orasamendedfromtimetotimebytheboardofaldermen.such F.ENCUMBRANCES amendmentswerenotmaterialinrelationtotheoriginalapropriations. TheVilageofAnacocodoesnotusencumbranceacounting. 9

12 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED) VILAGEOFANACOCO,LOUISIANA G.CASHANDCASHEQUIVALENTSANDINVESTMENTS Cashincludesamountsindemandeposits,interest-bearingdemandeposits,moneymarket acountsandtimedeposits.understatelaw,themunicipalitymaydepositfundsindemand deposits,interest-bearingdemandeposits,moneymarketacounts,ortimedepositswith statebanksorganizedunderlouisianalaworanyotherstateoftheunitedstates,orunder thelawsoftheunitedstates. Understatelaw,themunicipalitymayinvestinUnitedStatesbonds,treasurynotes,or certificates.theseareclasifiedasinvestmentsiftheiroriginalmaturitiesexced90days;if theoriginalmaturitiesare90daysorles,theyareclasifiedascashequivalents. Investmentsarestatedatcost. H.INVENTORIES TheVilageofAnacocodoesnotmaintainaninventory.Purchasesaremadeasnededfor repairandmaintenanceandreplacementofexistingequipment. 1.PREPAIDITEMS Prepaidamountsconsistofinsurancepolicypremiumspaidinadvance J.FIXEDASETS Fixedasetsofgovernmentalfundsarerecordedasexpendituresathetimepurchasedor constructed,andtherelatedasetsarereportedinthegeneralfixedasetsacountgroup. Publicdomainorinfrastructuresarecapitalized.Interestcostsincureduringconstruction arenotcapitalized.nodepreciationhasbenprovidedongeneralfixedasets.alfixed asetsarevaluedathistoricalcostorestimatedcostifhistoricalcostisnotavailable. K.COMPENSATEDABSENCES Thevilage'sleavepolicydoesnotprovidefortheacumulationandvestingofleave L.LONG-TERMOBLIGATIONS Fortheprimarygovernment,long-termobligationsexpectedtobefinancedfrom governmentalfundsarereportedinthegeneralong-termobligationsacountgroup. Expendituresforprincipalandinterestpaymentsforlong-termobligationsarerecognizedin thegovernmentalfundwhendue. 10-

13 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED) VILAGEOFANACOCO,LOUISIANA M.TOTALCOLUMNSONCOMBINEDSTATEMENTS TotalcolumnsonthecombinedstatementsarecaptionedMemorandumOnlytoindicatethat theyarepresentedonlytofacilitatefinancialanalysis.datainthesecolumnsdonotpresent financialposition,resultsofoperations,orchangesinfinancialpositioninconformitywith generalyaceptedacountingprinciples.neitherisuchdatacomparabletoaconsolidation Interfundeliminationshavenotbenmadeintheagregationofthisdata. LEVIEDTAXES NoadvaloremtaxeswereleviedasofJune30,203 EXPENDITURESFORACTUALANDBUDGET Thegeneralfundhadactualtotalexpendituresoverbudgetedexpendituresfortheyearended June30,203: Bude,et Unfavorable 4.CASHANDCASHEQUIVALENTS $98,626 $102,437 Actual $(3,81i) Variance ThefolowingisasumaryofcashandcashequivalentsatJune30,203 Interest-bearing Thesedepositsarestatedatcost,whichaproximatesmarket.Understatelaw,federal demandeposits $76,614 depositinsuranceorthepledgeofsecuritiesownedbythefiscalagentbankmustsecure thesedeposits(ortheresultingbankbalances).themarketvalueofthepledgedsecurities plusthefederaldepositinsurancemustataltimesequaltheamountondepositwiththe fiscalagent.thesesecuritiesareheldinthenameofthepledgingfiscalagentbankina holdingorcustodialbankthatismutualyaceptabletobothparties. AtJune30,203,theprimarygovernmenthas$7,14indeposits(colectedbankbalances) Thesedepositsaresecuredfromriskby$7,14ofederaldepositinsurance. StatestatutesrelatingtocashandcashequivalentsarelocatedatNoteIG.,"Cashandcash equivalents. 5.INVESTMENTS TheVilageofAnacocohadnoinvestmentsasofJune30,203

14 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED) VILAGEOFANACOCO,LOUISIANA 6.RECEIVABLES ThefolowingisasumaryofreceivablesforJune30,203 Franchisetaxes Clasofreceivable Grantreceivable Totalreceivable 7.FIXEDASETS Thechangesingeneralfixedasetsfolow Land June30.202AditionsDeletionsJune Balance Balance Buildings Improvementsother Equipment thanbuildings Total 8.ACOUNTSANDOTHERPAYABLES ThefolowingisasumaryofpayablesatJune30,203 Witholdings ClasofPayable Acounts $ I 9.LEASES TheVilageofAnacocohadnoleasesasofJune30,203 12

15 NOTESTOTHEFINANCIALSTATEMENTS(CONCLUDED) VILAGEOFANACOCO,LOUISIANA 10.GENERALONGTERMOBLIGATIONS Thefolowingisasumaryofthelong-termobligationtransactionfortheyearendedJune MortgageNote Long-termobligations payableatjune30,202 Aditions $13,727 Long-termobligations Principalpayments MortgagenoteiscomprisedofthefolowingindividualisuesatJune30,203 payableatjune30,203 $8,95 MortgageNote $17,095mortgagenotedated9/7/01dueinmonthlyinstalmentsof $452begining10/31/01andcontinuingthrough3/5/05; interestatherateof6.0% $8,95 TheanualcashflowrequiredtoselwicethedebtasofJune30,203,includinginterest paymentsof$495areastblows: June30 TotN Mortgagepayments $5,427 $9,498 4,071

16 SUPLEMENTALINFORMATIONSCHEDULES 14-

17 GENERALFUND Toacountforesourcestraditionalyasociatedwithgovernmentsthatarenotrequiredtobe acountedforinanotherfund. 15

18 VILAGEOFANACOCO GENERALFUND BALANCESHET June ASETS Franchisetaxesreceivable Cash Prepaidinsurance Grantreceivable Totalasets LIABILITIESANDFUNDBALANCE LIABILITIES Payroltaxespayable Acountspayable Totaliabilities FUNDBALANCE Unreserved-undesignated Totaliabilitiesandfundbalance 76,174 10,0 1,271 5_303 92,748 1, ,816 89,93 92_749 ScheduleI -16-

19 VILAGEOFANACOCO Schedule2 SCHEDULEOFREVENUES,EXPENDITURES,ANDCHANGES1N GENERALFUND BUDGET(GAPBASIS)ANDACTUAL FUNDBALANCES- YearendedJune30,203 VARIANCE REVENUES BUDGET ACTUAL (UNFAVORABLE) Taxes: Licensesandpermits: Franchisetaxes $15,960 $15,96 $ 6 lntergovemental: Ocupationalicenses ,342 Stategrants Finesandforfeitures Localgrants Miscelaneous: Saleofaset 48,40 10,060 10,0 48, , Interestincome Rentincome 610 Otherincome Totalrevenues , , $108,384 $ (4,864) 9,494 EXPENDITURES Generalgovernment PublicSafety- $52,846 $51,402 $ 1,4 Publicworks Police 24,315 31,703 (7,38) Highwaysandstrets Totalexpenditures Exces(deficiency) ofrevenuesoverexpenditures $ 264 $5~947 5,683 Fundbalance,begining $83,986 $83,986 $ Fundbalance,ending $84250 $89,

20 VILAGEOFANACOCO Schedule3 SCHEDULEOFEXPENDITURESCOMPAREDTOBUDGET(GAPBASIS) GENERALFUND YearendedJune VARIANCE Generalgovernment: BUDGET ACTUAL (UNFAVORABLE) Mayor'salary Aldermen'salary 2,40 Othersalaries 3,60 Payroltaxes 8,10 Contractlabor 6,50 Insuranceandbonds 6,40 (5,129) 5,052 Membershipdues 8,305 1,01 (710) Oficesuplies Othersuplies 30 (145) Bankcharges 1,865 (i,189) (937) Acountingandlegal Utilities 2,565 Advertising 3,836 (64) Travel 420 Maintenance 150 (326) Telephoneandcomunications 2,020 Capitaloutlay 1,375 1,576 (150) Miscelaneous 8O (2,832) Totalgeneralgovernment $48,716 $ $ (Continued) (2,686) -18-

21 VILAGEOFANACOCO Schedule3 SCHEDULEOFEXPENDITURESCOMPAREDTOBUDGET(GAPBASIS) GENERALFUND YearendedJune Publicsafety: Police- Salaries Autoexpense 10,40 Suplies 4,965 $14,10 Insuranceandbonds 80 3,624 (3,60) Payroltaxes , Telephone 1,079 Repairs Training Publicrelations (I,079) (181) 12 (21) 90 Statefes Capitaloutlay 4,130 4,168 Debtservice: 150(38) Principle Interest 4, , Totalpublicsafety $28.45 Publicworks: Highwayandstrets- Overlay $21,465 $19, Totalexpenditures $ $ $ (Concluded) (3,81) -19-

22 VILAGEOFANACOCO Schedule4 SCHEDULEOFCOMPENSATIONPAIDTOBOARDMEMBERS YearendedJune BOARDMEMBERS COMPENSATION LaVerneMiers PAID DanieFrost KeithLewing 1,20 Total

23 GENERALFIXEDASETSACOUNTGROUP Toacountforfixedasetsusedingovernmentalfundtypeoperations 21

24 VILAGEOFANACOCO Schedule5 SCHEDULEOFGENERALFIXEDASETS YearendedJune Generalfixedasets,atcost Land Buildings $17,739 Improvementsotherthanbuildings Equipment 237,624 43, Totalgeneralfixedasets $351,06 Investmentingeneralfixedasets Generalfundrevenues $351,06-2-

25 VILAGEOFANACOCO Schedule6 SCHEDULEOFCHANGESINGENERALFIXEDASETS YearendedJune Improvements Generalfixedasets beginingofyear Land otherthan $17,739$43,897$237,624$68,526$367,786 Building buildingsequipment Total 2,832 2,832 Deletions Generalfixedasets (19,52)(19,52) endofyear $17.739$43.897$ $51.806$

26 JohnA.Windham.CPA 1620NorthPineStret AProfesionalC'orporation DeRider,LA70634 JohnA.Windham,CPA Tel:(37) Fax:(37) BASEDONANAUDITOFINANCIALSTATEMENTSPERFORMEDIN ANDONINTERNALCONTROLOVERFINANCIALREPORTING REPORTONCOMPLIANCE ACORDANCEWITHGOVERNMENTAUDITINGSTANDARDS TheHonorableLeRoyColey,Mayor VilageofAnacoco,Louisiana andthemembersofthevilagecouncil IhaveauditedthegeneralpurposefinancialstatementsoftheVilageofAnacoco,Louisiana, asofand[brtheyearendedjune30,203,andhaveisuedmyreporthereondated November21,203.Iconductedmyauditinacordancewithauditingstandardsgeneraly aceptedintheunitedstatesofamericandthestandardsaplicabletofinancialaudits containedingovernmenta~lditingsta~ldards,isuedbythecomptrolergeneralofthe UnitedStates. Compliance AspartofobtainingreasonableasuranceaboutwhethertheVilageofAnacoco,Louisiana's generalpurposefinancialstatementsarefreofmaterialmistatement,iperformedtestsof itscompliancewithcertainprovisionsoflaws,regulations,contractsandgrants, noncompliancewithwhichcouldhaveadirectandmaterialefectonthedeterminationof financialstatementamounts.however,providinganopiniononcompliancewiththose provisionswasnotanobjectiveofmyauditand,acordingly,idonotexpresuchan opinion.theresultsofmytestsdisclosednoinstancesofnoncompliancethatarerequiredto bereportedundergovernmentauditingstandards. InternalControlOverFinancialRenortin~ Inplaningandperformingmyaudit,IconsideredtheVilageofAnacoco,Louisiana's internalcontroloverfinancialreportinginordertodeterminemyauditingproceduresforthe purposeofexpresingmyopiniononthegeneralpurposefinancialstatementsandnoto provideasuranceontheinternalcontroloverfinancialreporting.myconsiderationofthe internalcontroloverfinancialreportingwouldnotnecesarilydisclosealmatersinthe 24

27 TheHonorableLeRoyColey,Mayor VilageofAnacoco,Louisiana andthemembersofthevilagecouncil Page2 internalcontroloverfinancialreportingthatmightbematerialweakneses.amaterial weaknesisaconditioninwhichthedesignoroperationofoneormoreoftheinternal controlcomponentsdoesnotreducetoarelativelylowleveltheriskthatmistatementsin amountsthatwouldbematerialinrelationtothegeneralpurposefinancialstatementsbeing auditedmayocurandnotbedetectedwithinatimelyperiodbyemployesinthenormal courseofperformingtheirasignedfunctions.inotednomatersinvomngtheinternal controloverfinancialreportinganditsoperationthaticonsidertobematerialweakneseṣ Thisreportisintendedsolelyfortheinformationanduseofmanagement,theVilage Councilandotherswithinthisorganization,andtheLegislativeAuditor.Alsoțhisreportis notintendedtobeandshouldnotbeusedbyanyoneotherthanthosespecifiedparties previouslystated. DeRider,Louisiana November21,203 25