SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. FINANCIAL STATEMENTS AND ACCOUNTANTS* COMPILATION REPORT. December 31, 2006 and 2005

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1 FICIAL E COPY (Xerox necessary copies from this copy and PLACE BACK in FILE) SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. FINANCIAL STATEMENTS AND ACCOUNTANTS* COMPILATION REPORT December 31, 2006 and 2005 Under provision! of state law, this report is a public document A copy of the report has been submitted to the entity end other appropriate public officials. The report is available for public inspection at the Baton Rouge office of tha legislative Auditor and, where appropriate, at the office of thejparish clerk of court. Release Date ///7/fl 7

2 TABLE OF CONTENTS PAGE ACCOUNTANTS' REPORT ON THE FINANCIAL STATEMENTS 3 FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL POSITION 4 STATEMENTS OF ACTIVITIES 5 STATEMENTS OF FUNCTIONAL EXPENSES 6 STATEMENTS OF CASH FLOWS 7 SCHEDULE OF FINANCIAL STATEMENT FINDINGS 8 CORRECTIVE ACTION PLAN 9 STATUS OF PRIOR FINDINGS 10

3 ILLIARD MILLIARD A Corporation of Certified Public Accountants FINLEY L. MILLIARD, C.P.A. JUDE C. MILLIARD, C.P.A. ACCOUNTANTS 1 REPORT Board of Directors Southwestern Louisiana Homeless Coalition, Inc. Lake Charles, Louisiana 1304 ENTERPRISE BLVD.. SUITE A LAKE CHARLES, LOUISIANA TELEPHONE (337) FAX (337) We have compiled the accompanying statements of financial position of Southwestern Louisiana Homeless Coalition, Inc. (a non profit corporation) as of December 31, 2006 and 2005, the related statements of activities and changes in net assets, functional expenses and cash flows for the years then ended, in accordance with the Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. All information included in these financial statements is the representation of the management of Southwestern Louisiana Homeless Coalition, Inc. A compilation is limited to presenting in the form of financial statements, information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the financial statements, they might influence the user's conclusion about the Organization's financial position, activities, and changes in net assets and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters. We are not independent with respect to Southwestern Louisiana Homeless Coalition, Inc. Hilliard & Billiard, ACCPA October 31,2007

4 SOUTHWESTERN LOUISIANA HOMELESS COALITION. INC. STATEMENTS OF FINANCIAL POSITION December and 2005 See Accountants' Compilation Report ASSETS $ 41,475 $ 148, , ,765 86, ,465 PROPERTY AND EQUIPMENT Land Buildings Furniture and fixtures Machinery and equipment Automobiles & trucks Leasehold improvements Less: accumulated depreciation 8, ,000 3,947 17,518 16,950 39, (50,611) 275, ,000 3, , ,351 (35,333) 286,018 OTHER ASSETS Deposits Total Assets $ ,940 $ ,583 LIABILITIES AND NET ASSETS CURRENT LIABILITIES Payroll taxes payable Line of credit Note payable-capitol One, current portion Rent deposits $ 12,500 12,500 - $ 4,113 12,500 16,613 LONG TERM LIABILITIES Note payable-capitol One, less current portion 73,334 84,035 Total Liabilities 85, ,648 NET ASSETS Unrestricted and designated: Appropriated-property and equipment Unappropriated Temporarily restricted Total Net Assets , , , , , Total Liabilities and Net Assets $ $ 505,583

5 SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. STATEMENTS OF ACTIVITIES Years Ending December 31, 2006 and 2005 See Accountants' Compilation Report Unrestricted Temporarily Temporarily Restricted Total Unrestricted Restricted Total PUBLIC SUPPORT. REVENUES AND RECLASSIFICATIONS Rental income, net Real estate sales.net Grants Contributions Other income Interest Income Memberships Net assets released from restriction Satisfaction of purpose restrictions , , ( ) ( ) $ , ,079 $ 190,838 (24.110) , ,357 s 210,000 (394,893) (184,893) $ 190,838 (24,110) EXPENSES PROGRAM SERVICES Rental expenses Affordable Housing Continuum of Care Total Program Services ,378 8,231 55,113 39, ,231 55, , SUPPORT SERVICES Management and general Fundraising Total Support Services Total Expenses 228, , , , , , , Change in net assets 74,171 ( ) (25,829) 268,584, (184,893) 83,691 tet Assets, beginning 304, , ,935 36, , ,244 ^et Assets, ending 379,106 $ $ $ 100,000 $

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7 SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. STATEMENTS OF CASH FLOWS Years Ended December 31, 2006 and 2005 See Accountants' Compilation Report Cash flows from operating activities: Net income/(loss) Adjustments to reconcile net income/(loss) to net cash provided by (used in) operations: Depreciation and amortization expense (Gain) Loss on asset disposition Decrease/increase) in inventory Decrease/increase) in other assets lncrease/(decrease) in other current liabilities Net cash provided by (used in) operating activities $ (25,829) $ 83,691 15,279 (57,878) (4,113X (72,541) 13,238 24,110 5,000 (9.936) 116,103 Cash flows from investing activities: Investment in fixed assets Contruction in progress Proceeds from sale of real estate Net cash provided by (used in) Investing activities Cash flows from financing activities: Repayments on long-term debt Net cash provided by (used in) financing activities Net Increase(Decrease) in Cash (4,278). (120,119) (8,047) (10.702) (10,702) (91,290) (17,715) ( ) (104,502) (1.976) (1.976) 9,625 Cash at Beginning of Period ,140 Cash at End of Period $_ $ 132,765

8 SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. SCHEDULE OF CURRENT YEAR FINDINGS For the Year Ended December 31, 2006 # Financial Report Finding: Information needed to compile the financial statements as of and for the year ended December 31, 2006 was not available in order to allow the timely completion of the financial report; thus, the report was filed after the June 30, 2007 deadline. Recommendation: Procedures need to be established to ensure that in the future, information necessary to complete the compilation will be available in time to meet the deadline.

9 SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. MANAGEMENT'S CORRECTIVE ACTION PLAN For the Year Ended December 31, 2006 # Financial Report Recommendation: Procedures need to be established to ensure that in the future, information necessary to complete the compilation will be available in time to meet the deadline. Current Status: Procedures will be established to ensure the financial report is filed in accordance with the requirements of the State law. Responsible party: Linda Banks, Executive Director

10 SOUTHWESTERN LOUISIANA HOMELESS COALITION, INC. STATUS OF PRIOR YEAR FINDINGS For the Year Ended December 31, 2005 # Financial Report Finding: Information needed to compile the financial statements as of and for the year ended December 31, 2005 was not available in order to allow the timely completion of the financial report; thus, the report was filed after the June 30, 2006 deadline. Current Status: Procedures will be established to ensure the financial report is filed in accordance with the requirements of the State law. Responsible party: Linda Banks, Executive Director 10