VilageofTangipahoa,Louisiana AnualFinancialReport

Transcription

1 RECEIVED LEG~S,.rgqVEi:iJDI-OR 203JAN-3A}'I:57 AnualFinancialReport June30,202 Underprovisionsofstatelaw,thisreportisapublic document.acopyofthereport17~sbensubmitedto thenti~andot!~erapr(~i:fztefmblicoficicfis.the apropriate,athefico~'th-~par~c;hcieri<ofcourt, reportis~,/ai~,b',ufor~-:l:":'ci~:~r,.c.!,"nathebaton Rougeofi-iceofti<~!_<:;isi:t.,:f.A~.t':~)r,_'rid,where ReleaseDate_._.~_(L~_

2 YearEndedJune30,202 AnualFinancialReport TableofContents FinancialSection StatementPage IndependentAuditor'sReport FinancialStatements: 4 CombinedBalanceShet AlFundTypesandAcountGroups CombinedStatementofRevenues,Expenditures,andChangesinFundBalance A 6 GovernmentalFundTypes B 8 CombinedStatementofRevenues,Expenditures,andChangesinFundBalance Budget(GAPBasis)andActual-GovernmentalFundTypes StatementofRevenues,Expenses,andChangesinRetainedEarfings C ProprietaryFundType-EnterpriseFund D 1 StatementofCashFlows ProprietaryFundType-EnterpriseFund E SuplementalInformationSchedules: NotestotheFinancialStatements GeneralFund: Schedule BalanceShet Budget(GAPBasis)andActual ScheduleofRevenues,Expenditures,andChangesinFundBalance SpecialRevenueFunds CombiningBalanceShet 3 28 CombiningScheduleofRevenues,Expenditures,andChangesinFundBalance Budget(GAPBasis)andActual 4 29

3 YearEndedJune30,202 AnualFinancialReport TableofContents SuplementalInformationSchedules:(Continued) SchedulePage CapitalProjectFunds CombiningBalanceShet 5 32 ProprietaryFund-EnterpriseFund: CombiningScheduleofRevenues,Expenditures,andChangesinFundBalance 6 3 BalanceShet 7 ScheduleofRevenues,Expenses,andChangesinRetainedEarnings Budget(GAPBasis)andActual 8 ScheduleofCashFlows GeneralFixedAsetsAcountGroup ComparativeScheduleofNaturalGasSalesandPurchases ScheduleofCompensationPaidElectedOficials ScheduleofGeneralFixedAsets ScheduleofExpendituresofFederalAwards 4 SumaryScheduleofPriorYearAuditFindings CorectiveActionPlanforCurentYearFindings ScheduleofFindingsandQuestionedCosts ReportonComplianceandonInternalControloverFederalReportingBasedonanAuditof 48 ReportonCompliancewithRequirementsAplicabletoEachMajorProgramandInternal FinancialStatementsPerformedinAcordancewithGovernmentalAuditingStandards 50 ControloverComplianceinAcordancewithOMBCircularA-13 52

4 BruceC.Harel,CPA WarenA.WolCPA MichaelEstay,CPA DaleH.Jones,CPA CharlesEHeberLCPA JamesD.Rabalais,CPA INTERNET MEMBERS w.teamcpa.com BRUCEHAREL andcompany AmericanInstituteofCPAs SocietyofLouisianaCPAs INDEPENDENTAUDITOR'SREPORT TheHonorableMayorC.JamesFultz andmembersoftheboardofaldermen P.O.Box45-909AvenueG VOICE:(985) Kentwod,LA704 FAX:(985) WestMinesotaPark VOICE:(985) Hamond,LA70403 ParkPlaceSuite7 FAX:(985) WeconductedourauditinacordancewithauditingstandardsgeneralyaceptedintheUnitedStatesofAmerica,and thestandardsaplicabletofinancialauditscontainedingovernmentauditingstandards,isuedbythecomptroler GeneraloftheUnitedStates.Thosestandardsrequirethatweplanandperformtheauditobtainreasonable asuranceaboutwhetherthefinancialstatementsarefreofmaterialmistatement.anauditincludesexamining,on atestbasis,evidencesuportingtheamountsandisclosuresinthefinancialstatementṣanauditalsoincludes asesingtheacountingprinciplesusedandsignificantestimatesmadebymanagemențaswelasevaluatingthe overalfinancialstatementpresentatioṇwebelievethatourauditprovidesareasonablebasisforouropinion. Inouropinion,thefinancialstatementsreferedtoabovepresentfairly,inalmaterialrespects,thefinancialposition ofthe,asofjune30,202,andtheresultsofitsoperationsandchangesincashflows ofitsproprietaryfundfortheyearthenendedinconformitywithauditingprinciplesgeneralyaceptedintheunited StatesofAmerica. InacordancewithGovernmentAuditingStandards,wehavealsoisuedoureportdatedDecember27,202onour considerationofthevilageoftangipahoa'sinternalcontroloverfinancialreportingandourtestsofitscompliance withcertainprovisionsoflaws,regulations,contractsandgrantṣthisreportisanintegralpartofanauditperformed inacordancewithgovernmentalauditingstandards,andshouldbereadinconjunctionwiththisreportinconsidering theresultsofouraudit.

5 BRUCEHAREL&CO. CERTIFIEDPUBLICACOUNTANTS AprofesionalAcountingCorporation Page2 OurauditwasconductedforthepurposeoforminganopiniononthefinancialstatementsoftheVilageof Tangipahoa,Louisianatakenasawhole.Thesuplementalinformationscheduleslistedinthetableofcontentsare presentedforpurposesofaditionalanalysisandarenotarequiredpartofthefinancialstatements.also,the acompanyingscheduleofexpendituresofederalawardsispresentedforpurposesofaditionalanalysisasrequired bytheu.s.oficeofmanagementandbudgetcirculara-13,auditsofstates,localgovernments,andnon-profit Organizations,andisnotarequiredpartofthefinancialstatements.Suchinformationhasbensubjectedtothe auditingproceduresapliedintheauditofthefinancialstatementsand,inouropinion,isfairlypresentedinalmaterial respectsinrelationtothefinancialstatementstakenasawhole. BruceHarel&Company AProfesionalAcountingCorporation December27,201

6 AlFundTypesandAcountGroups CombinedBalanceShet June30,202 Governmental General Fund SpecialRevenue FundTypes Fund CapitalProject Fund Proprietary AsetsCash&CashEquivalents FundType Enterprise Fund TaxesReceivable,Net AcountsReceivable,Net 12,236 1,673 82,462$ 260$151,673 PrepaidExpenses 21,417 DueFromOtherFunds DueFromOtherGovernments RestrictedCash&CashEquivalents 41, ,12 25,258 17,980 6,158 Property,Plant,&Equipment,Net Liabilities,Equity,&OtherCredits TotalAsets $ 5,72_8$ 9,584$ 25, ,465 Liabilities: AcountsPayable OtherAcruedExpenses DeferedRevenue $ 4,4550 $ DuetoOtherFunds 43,914 6, $ 25,259 PayableFromRestrictedAsets: CustomerDeposits ~5, , ,268 Equity&OtherCredits: TotalLiabilities ContributedCapital,Net 4~95 107,070 25,359 26,540 18,207 InvestmentinGeneralFixedAsets RetainedEarnings,Unreserved 689,257 FundBalance: 20,562 Unreserved&Undesignated TotalEquity&OtherCredits TotalLiabilities,Equity,& 50,73 OtherCredits $ 5,728 $ (7,486) ,819 9,584 $25,518$936,359_ Theacompanyingnotesareanintegralpartofthesestatements. 6

7 StatementA Acount FixedAsets Group General $ (MemoOnly) Toml 246,631 21,417 1,673 6,t58 243,090 59, ,465 $ 240,989 43,914 59,089 1, ,207 64, ,257 64,413 20, ,413$1,381,602

8 CombinedStatementofRevenues,Expenditures,andChangesinFundBalance StatementB GovernmentalFundTypes YearEndedJune30,202 Revenues General Taxes Fund SpecialRevenue LicensesandPermits 15,795 Fund CapitalProject Fund InterestRevenue Intergovernmental 27,364 38,591$ FinesandForfeits 1,462 Sanitation $ (MemoOnly) Total 54,386 23,287 15, , , ,352 GrantRevenue OtherRevenues Expenditures TotalRevenues 45, ,425 15,685 2, , GeneralandAdministrative PublicSafety-PoliceDepartment 25,105 PublicSafety-FireDepartment Strets&Sanitation 36,940 Sanitation 4,20 8,353 38,670 25,105 75,610 29,390 4,20 37,743 HealthandWelfare: CapitalOutlay: SumerFodProgram HousingRehabilitation 13,801 13,801 CapitalExpenditures TotalExpenditures ,120 ExcesRevenues(Expenditures) OtherFinancingSources(Uses) (36,859) 17, ,579 OperatingTransferIn(Out)-EnterpriseFund OperatingTransferIn(Out)-CapitalProject 5,605 (19,296) OperatingTransferIn(Out)-SalesTaxFund ExcesRevenues&OtherSources TotalOtherFinancingSources(Uses) (16,414) Q5,710) FundBalance,BeginingofYear FundBalance,EndofYear (Expenditures&OtherUses) $ (14,840) 65,573 50,73 (18,489) (3,284) Theacompanyingnotesareanintegralpartofthesestatements.

9 CombinedStatementofRevenues,Expenditures,andChangesinFundBalance Budget(GAPBasis)andActual-GovernmentalFundTypes YearEndedJune30,202 GeneralFund Variance: Revenues Taxes LicensesandPermits InterestRevenue 15,50$ lntergovernmental 19,40 Actual15,795 27,364 (Unfavorable) Favorable 7, FinesandForfeits GarbageFes 1,80 OtherRevenues 10 1,462 Expenditures TotalRevenues (38)(24) GeneralandAdministrative PublicSafety,PoliceDepartment 25,790 PublicSafety,FireDepartment Stret&Sanitation 35,0 25,105 HealthandWelfare: 4,20 8,60 36,940 4,20 8,353 (1,940) CapitalOutlay: SumerFodProgram CapitalExpenditures TotalExpenditures , (958) ExcesRevenues(Expenditures) (42,790) (36,859) 41,96) 5931 OtherFinancingSources(Uses) OperatingTransferIn(Out)-EnterpriseFund OperatingTransferIn(Out)-SpecialRevenueFund TotalOtherFinancingSources(Uses) 18,90 25,90 7,0 ExcesRevenues&OtherSources 5,605 16,414 2,019 (1,395) (2,486) (3,Sl) FundBalance,BeginingofYear (Expenditures&OtherUses) (16,890) (14,840)$ 2,050,= FundBalance,EndofYear $ ,573 Theacompanyingnotesareanintegralpartofthesestatements. 9

10 StatementC SpecialRevenueFund Actual (Unfavorable) Variance: Favorable 38,0$38,591$ ,50 15,70 18,50 23, ,585 (2,213) (241) 18,425 2, (15)(75) 82(20) 38,450 29,20 38,670 29,390 14,80 13,801 (190) 9 82, (18,750) (18,90) (19,296) (37,650) (16,414) (546) (3.5,71o) 2,

11 StatementofRevenues,Expenses,andChangesinRetainedEarnings ProprietaryFundType-EnterpriseFund YearEndedJune30,202 OperatingRevenues GasSales LesCostofGasSold GrosProfitonGasSales WaterSales SewerageServiceCharges TapInCharges DelinquentCharges OtherRevenues TotalOperatingRevenues OperatingExpenses GasDepartment WaterDepartment SewerDepartment TotalOperatingExpenses OperatingIncome(Los) NonoperatingRevenues InterestIncome TotalNonoperatingRevenues OperatingTransfersIn SpecialRevenueFund GeneralFund TotalOperatingTransfersIn NetIncome(Los) UnrestrictedRetainedEarnings,BeginingofYear AmortizationofContributions UnrestrictedRetainedEarnings,En~lofYear Theacompanyingnotesareanintegra[partofthesestatements. StatementD $ 3,139 (17,509) 15,630 74,190 24,989 6, ,849 32,649 54,59 16, ,296 (5,605) , ,

12 ProprietaryFundType-EnterpriseFund YearEndedJune30,202 StatementofCashFlows StatementE CashFlowsfromOperatingActivities OperatingIncome(Los) AdjustmentstoReconcileOperatingIncometoCashProvided(Used)byOperatingActivities 13,574 Depreciation ChangeinAcountsReceivable ChangeinPrepaidExpenses 30,204 ChangeinAcountsPayable (1,353) (6,158) ChangeinSalesTaxPayable 2,281 ChangeinDueTo/FromOtherFunds ChangeinCustomerDepositsPayable (4,38) 21 CashFlowsfromNoncapitalFinancingActivities NetCashProvided(Used)byOperatingActivities 37.04l 2,810 OperatingTransfersIn OperatingTransfersOut 19,296 CashFlowsfromCapitalandRelatedFinancingActivities NetCashProvided(Used)byNoncapitalFinancingActivities (5,605) FixedAsetsPurchases InterestIncome NetCashProvided(Used)byCapitalandRelatedFinancingActivities (1,350) 1.16 NetIncrease(Decrease)inCash Cash,BeginingofYear 50,498 Cash,EndofYear Theacompanyingnotesareanintegralpartofthesestatements.

13 NotestotheFinancialStatements Introduction AsofandfortheYearEndedJune30,202 operatesunderamayor-boardofaldermenformofgovernment. TheVilageofTangipahoawasincorporatedJuly1,1959,undertheprovisionsoftheLawrasonAct.TheVilage 1.SumaryofSignificantAcountingPolicies A.BasisofAcounting TheacompanyingfinancialstatementsoftheVilageofTangipahoahavebenpreparedinconformitywith generalyaceptedacountingprinciples(gap)asapliedtogovernmentalunits.thegovernmentalacounting StandardsBoard(GASB)istheaceptedstandardsetingbodyforestablishingovernmentalacountingand B.REPORTINGENTITY financialreportingprinciples. Asthemunicipalgoverningauthority,foreportingpurposes,theVilageofTangipahoaisconsideredaseparate financialreportingentity.thefinancialreportingentityconsistsof(a)theprimarygovernment(vilage),(b) reportingentity'sfinancialstatementstobemisleadingorincomplete. organizationsforwhichtheprimarygovernmentisfinancialyacountable,and(c)otherorganizationsforwhich natureandsignificanceoftheirelationshipwiththeprimarygovernmentaresuchthatexclusionwouldcausethe GovementalAcountingStandardsBoard(GASB)StatementNo.14establishedcriteriafordeterminingwhich componentunitshouldbeconsideredpartofthevilageoftangipahoaforfinancialreportingpurposes.thebasic criterionforincludingapotentialcomponentunitwithinthereportingentityisfinancialacountability.thegasb hasetforthcriteriatobeconsideredindeterminingfinancialacountability.thesecriteriainclude: Apointingavotingmajorityofanorganization'sgoverningbody,and a.theabilityofthevilagetoimposeitswilonthatorganizationand/or b.thepotentialfortheorganizationtoprovidespecificfinancialbenefitstorimposespecificfinancial 2.OrganizationsforwhichtheVilagedoesnotapointavotingmajoritybutarefiscalydependentonthe burdensonthevilage. Vilage. Organizationsforwhichthereportingentityfinancialstatementswouldbemisleadingifdataofthe organizationisnotincludedbecauseofthenatureorsignificanceoftherelationship. Asrequiredbygeneralyaceptedacountingprinciples,thesefinancialstatementspresentheVilageof Tangipahoa(theprimarygovernment).TheVilageofTangipahoahasnocomponentunitstoincludeinthe acompanyingfinancialstatements. 13

14 AsofandfortheYearEndedJune30,202 NotestotheFinancialStatements C.FundAcounting TheVilageofTangipahoausesfundsandacountgroupstOreportOnitsfinancialpositionandtheresultsofits operations.fundacountingisdesignedtodemonstratelegalcom~alianceandtoaidfinancialmanagementby segregatingtransactionsrelatingtocertaingovernmentfunctionsoractivities. Afundisaseparateacountingentitywithaself-balancingsetofacountṣOntheotherhand,anacountgroup isafinancialdevicedesignedtoprovideacountabilityforcertainasetsandliabilitiesthatarenotrecordedinthe fundsbecausetheydonotdirectlyafectnetexpendableavailablefinancialresourceṣ FundsoftheVilageareclasifiedintotwocategorieșgovernmentalandproprietary.Inturn,eachcategoryis dividedintoseparatefundtypes.thefundclasificationsandadescriptionofeachexistingfundtypefolow: GovernmentalFunds Governmentalfundsareusedtoacountforalormostofthemunicipality'sgeneralactivitieșincludingthe colectionandisbursementofspecificorlegalyrestrictedmonieștheacquisitionorconstructionofgeneral fixedasets,andtheservicingofgeneralong-termdebṭgovernmentalfundsinclude: 1.GeneralFund-thegeneraloperatingfundoftheVilageandacountsforalfinancialresourcesexcept 2.Specia~RevenueFunds-ac~untforthepr~ceds~fspecificrevenues~urcesthatare~ega~yrestrieted thoserequiredtobeacountedforinotherfunds. 3.CapitalProjectFunds-acountfortheprocedsofspecificrevenuesthatarerestrictedforthepurpose toexpendituresforspecificpurposes. ofcapitalimprovements. Enterprisefunds-acountforoperations(a)thatarefinancedandoperatedinamanersimilartoprivate depreciation)ofprovidingodsorservicestothegeneralpubliconacontinuingbasisbefinancedor recoveredprimarilythroughusercharges;or(b)wherethegoverningbodyhasdecidedtheperiodic businesenterprise,wheretheintentofthegoverningbodyisthathecosts(expenses,including determinationofrevenuesearned,expensesincured,and/ornetincomeisapropriateforcapital maintenance,publicpolicy,managementcontrol,acountability,oranyotherpurpose.

15 NotestotheFinancialStatements D.BasisofAcounting AsofandfortheYearEndedJune30,202 TheacountingandfinancialreportingtreatmentapliedtoafundisdeterminedbyitsmeasurementfocusȦl governmentalfundsareacountedforusingacurentfinancialresourcesmeasurementfocuṣwiththis measurementfocus,onlycurentasetsandliabilitiesaregeneralyincludedonthebalanceshet.operating statementsofthesefundspresentincreasesandecreasesinetcurentasets.themodifiedacrualbasisof acountingisusedbyalgovernmentalfundsandagencyfunds.thegovernmentalfundsusethefolowing practicesinrecordingrevenuesandexpenditures: Revenues Salestaxes,licensesandpermits,chargesforservices,finesandforfeits,andmiscelaneousrevenuesare recordedasrevenueswhenreceived.advalorem,publicutilityfranchise,tobacoandbertaxrevenuesare recognizedwhentheybecomemeasurableandavailableasnetcurentasetṣ Expenditures Expendituresaregeneralyrecognizedunderthemodifiedacrualbasisofacountingwhentherelatedfund liabilityisincured.purchasesofvariousoperatingsupliesareregardedasexpendituresathetime purchased. OtherFinancingSources(Uses) Transfersbetwenfundsthatarenotexpectedtoberepaidareacountedforasotherfinancingsources(uses) Alproprietaryfundsareacountedforonaflowofeconomicresourcesmeasurementfocusandadetermination Theseamountsarerecordedwhentheactualtransferismade. ofnetincomeandcapitalmaintenance.withthismeasurementfocus,alasetsandliabilitiesasociatedwiththe operationofthesefundsareincludedonthebalanceshet.theproprietaryfundsusetheacrualbasisof acounting.revenuesarerecognizedwhenearned,andexpensesarerecognizedathetimeliabilitiesareincured. E.Budgets TheVilageusesthefolowingbudgetpractices TheVilageadoptsabudgetforitsgeneralfundandspecialrevenuefunds.Theproposedbudgetisubmited totheboardofaldermenandmadeavailableforpublicinspectionatleast15dayspriortothebeginingofthe F.CashAndCashEquivalents budgetyear.alapropriations(unexpendedbudgetbalances)lapseatyearend. Cashincludesamountsindemandepositsandinterest-bearingdemandeposits.Cashequivalentsinclude amountsintimedepositsandthoseotherinvestmentswithoriginalmaturitiesof90daysorleṣunderstatelaw, thevilagemaydepositfundsindemandeposits,interest-bearingdemandeposits,ortimedepositswithstate banksorganizedunderlouisianalaworanyotherstateoftheunitedstates,orunderthelawsoftheunitedstates.

16 AsofandfortheYearEndedJune30,202 NotestotheFinancialStatements G.Investments InvestmentsarelimitedbyLouisianaRS3:295andtheVilage'sinvestmentpolicy.Iftheoriginalmaturities ofinvestmentsexcedninetydays,theyareclasifiedasinvestments;however,iftheoriginalmaturitiesareninety daysorles,theyareclasifiedascashequivalents. TheVilagemaintainsomeinvestmentsintheLouisianaAsetManagementPol(LAMP),anon-profit corporationformedbyaninitiativeofthestatetreasurerandorganizedunderthelawsoflouisianatoperateas alocalgovernmentinvestmentpol.lampinvestsitsasetsonlyinsecuritiesandotherobligationspermisible underlouisianalawforlocalgovernments. LAMPisanexternalinvestmentpolthatisnotregisteredwiththeSECasaninvestmentcompany,but neverthelesoperatesinamanerconsistentwiththesec'srule2a7oftheinvestmentcompanyactof1940. GASB-3l,AcountingandFinancialReportingforCertainInvestmentsandforExternalInvestmentPols, requiresthereportingofinvestmentpositionsin2a7-1ikepols(suchaslamp)bebasedonthepol'shareprice. H.Short-TermInterfundReceivables/Payables Duringthecourseofoperations,numeroustransactionsocurbetwenindividualfundsforgodsorservices rendered.thesereceivablesandpayablesareclasifiedasduefromotherfundsorduetotherfundsonthe balanceshet.short-terminterfundloansareclasifiedasinterfundreceivablesorpayables. I.Inventories Purchaseofvariousoperatingsupliesareregardedasexpendituresathetimepurchased,andinventoriesofsuch suplies(ifany)arenotrecordedasasetsathecloseofthefiscalyear. J.RestrictedAsets Casheldforcustomers'meterdepositshasbensetasideinseparatecashacountsandisclasifiedasarestricted asetonthebalanceshet. K.FixedAsets Fixedasetsofgovernmentalfundsarerecordedasexpendituresathetimepurchasedorconstructed,andthe relatedasetsarecapitalized(reported)inthegeneralfixedasetsacountgroup.publicdomaininfrastructures arenotcapitalized.interestcostsincureduringconstructionarecapitalized.nodepreciationhasbenprovided ongeneralfixedasets.alfixedasetsarevaluedathistoricalcostorestimatedhistoricalcostifactualhistorical costisnotavailable.donatedfixedasetsarestatedatheirestimatedfairmarketvalueonthedatedonated. Fixedasetsusedintheproprietaryfundoperationsareincludedinthebalanceshetofthefundsnetof acumulatedepreciation.depreciationofalexhaustiblefixedasetsusedbytheproprietaryfundoperationsis chargedasanexpenseagainstitsoperations.depreciationhasbenprovidedoverthestimatedusefulivesusing thestraight-linemethod.

17 NotestotheFinancialStatements L.CompensatedAbsences AsofandfortheYearEndedJune30,202 TheVilageofTangipahoa'srecognitionandmeasurementcriteriaforcompensatedabsencesfolows: AlregularemployesoftheVilageofTangipahoaearnonedayofvacationleaveandonedayofsickleaveach month.vacationandsickleavemustbeusedintheyearearned. InacordancewithGASB-16,AcountingforCompensatedAbsences,noliabilityhasbenacruedforunused employesickleave. M,FundEquity ContributedCapital Contributedcapitalisrecordedinproprietaryfundsthathavereceivedcapitalgrantsorcontributionsfrom developers,customers,orotherfundswhensuchresourcesarerestrictedfortheacquisitionorconstructionof capitalasets.contributedcapitalisamortizedbasedonthedepreciationrecognizedonthatportionofthe asetsacquiredorconstructedfromsuchresources.thisdepreciationisclosedtothecontributedcapital acountandisreflectedasanadjustmentonetincome. Reserves Reservesrepresenthoseportionsofundequitynotapropriableforexpenditureorlegalysegregatedfora specificfutureuse, DesignatedFundBalance N.InterfundTransactions Designatedfundbalancerepresentstentativeplansforfutureuseofinancialresources. Quasi-externaltransactionsareacountedforasrevenues,expenditures,orexpenses.Transactionsthatconstitute reimbursementoafundforexpenditures/expensesinitialymadefromithatareproperlyaplicabletoanother fundarerecordedasexpenditures/expensesinthereimbursingfundandasreductionsofexpenditures/expensesin thefundthatisreimbursed. Alotherinterfundtransactions,exceptquasi-externaltransactionsandreimbursements,arereportedastransfers, Nonrecuringornon-routinepermanentransfersofequityarereportedasresidualequitytransfers.Alother interfundtransfersofthevilagearereportedasoperatingtransfers.

18 NotestotheFinancialStatements O.TotalColumnsonCombinedStatements AsofandfortheYearEndedJune30,202 TotalcolumnsonthecombinedstatementsarecaptionedMemorandumOnlytoindicatethatheyarepresentedonly tofacilitatefinancialanalysis.datainthesecolumnsdonotpresentfinancialposition,resultsofoperations,or changesinfinancialpositioninconformitywithgeneralyaceptedacountingprinciples.neitherisuchdata 2.LeviedTaxes comparabletoaconsolidation.iuterfundeliminationshavenotbenmadeintheagregationofthisdata. OnMay3,1972,theVilageadoptedOrdinance62authorizingtheVilagetolevyaonecentsalesandusetax.The procedsofthisonecentsalesandusetax,leviedbythevilage,areforthepurposesofpurchasingand/orconstructing sewers,drains,drainagecanals,pumpingplants,seweragedisposalworks,andalfacilitiesnecesaryorconvenient forthecompletionandmaintenanceofanadequateseweragedisposalsystem.inadition,theprocedsareforthe purposesofacquiringnecesaryproperty,apurtenances,orequipment,orforanyoneormoreofanysuchpurposes, orforanyotherlawfulcorporatepurposeinconectionwiththeacquisition,construction,and/ormaintenanceofsuch aseweragesystem. OnApril10,1985,theVilageadoptedOrdinanceIauthorizingthecolectionofanaditionalonecentsalestax.Up to50%oftheprocedswasrestrictedforthepurposeofestablishingtheregularcolectionofgarbageandrefuse,and acquiringnecesaryequipmentforthemaintenanceofsuchgarbagesystemandtheremainderoftheprocedsistobe usedforthepurposeofconstructingandimprovingstretsandstretlightsandacquiringnecesaryequipmentforthe maintenancethereof. OnJune6,201,theVilageadoptedOrdinance1levyinganadvaloremtaxof15.97milsontheasesedvaluation ofalpropertysubjectotaxationwithinthevilagefortheyear20.ofthe15.97milslevied,9.51milswas dedicatedtofireprotectionand6.46milswasdedicatedtogeneralcorporatepurposes. FortheyearendingJune30,202,theVilageasesedEntergy,Inc.andCharterComunications,Inc.publicutilities franchisetaxestotaling$6,64fortheprivilegeofprovidingservicestothevilage'scitizens. 3.CashandCashEquivalents Thefolowingisasumaryofcashandcashequivalents(bokbalances)atJune30,202 DemandDeposits TimeDeposits LouisianaAsetManagementPol $198,02 35,125 $257,096 23,949 Thesedepositsarestatedatcost,whichaproximatesmarket.Understatelaw,thesedeposits(ortheresultingbank balances)mustbesecuredbyfederaldepositinsuranceorthepledgeofsecuritiesownedbythefiscalagentbank.the marketvalueofthepledgedsecuritiesplusthefederaldepositinsurancemustataltimesequaltheamountondeposit withthefiscalagent.thesesecuritiesareheldinthenameofthepledgingfiscalagentbankinaholdingorcustodial bankthatismutualyaceptabletobothparties.

19 NotestotheFinancialStatements AtJune30,202,theVilagehas$240,698indeposits(colectedbankbalances).Thesedepositsaresecuredfromrisk AsofandfortheYearEndedJune30,202 by$135,126ofederaldepositinsuranceand$9,858inpledgedsecuritiesheldbythecustodialbankinthenameof thefiscalagentbank(gasbcategory3).theremainingbalanceof$5,714isnotsecuredbypledgedsecuritiesandis inviolationofstatelaw. Eventhoughthepledgedsecuritiesareconsidereduncolateralized(Category3)undertheprovisionsofGASB Statement3,LouisianaRevisedStatute39:t29imposesastatutoryrequirementonthecustodialbanktoadvertiseand selthepledgedsecuritieswithin10daysofbeingnotifiedbythevilagethathefiscalagenthasfailedtopaydeposited fundsupondemand. 4.Investments AtJune30,202,alinvestmentsheldbytheVilageareclasifiedascashequivalents 5.Receivables ThefolowingisasumaryofgovernmentalfundreceivablesatJune30,202 General Taxes:PublicUtilityFranchise Fund Revenue Special lntergovernmental: SalesandUse 1,673$ Funds Total 2,12$ LouisianaBerTaxDistribution COPSUHPGrant ,673 2,12 $ 2,383$ 17,12$ , ThefolowingisasumaryofenterprisefundacountsreceivableatJune30,202 Curent 31-60Days 61-90Days Over90Days 5,762 1,395 Subtotal 2,387 2r420 AlowanceforBadDebt 21,964 (547)

20 NotestotheFinancialStatements 6.FixedAsets AsofandfortheYearEndedJune30,202 Thechangesingeneralfixedasetsfolow: Land Balance Buildings 07/01/01 Aditions Deletions Furniture&Fixtures Vehicles Equipment $ 3,360 4,562 37,523 1,10 40 Balance $ $ 06/30/0240 3,360 4,562 $56,95 $ 1,10 Asumaryofproprietaryfundtypeproperty,plant,andequipmentatJune30,202folows: 7,458$ Buildings Cost GasSystem WaterSystem $ 9,010$ SewerSystem 36,39 Machinery&Equipment 45,016 Acumulated Depreciation 6, ,630 27,809 Net2,747 CurentYear , ,302 8,530 Depreciation ,713 10,382 Alasetsaredepreciatedunderthestraigh~linemethod. $1,391,742$ 63,076 53, $728,6$ 18, ,204 7.Payables ThefolowingisasumaryofpayablesatJune30,202 General Special Acounts PayrolTaxes Fund Revenue Capital Funds SalesTaxes 4,45$ Project Fund Enterprise Fund 50 6,534$25,259$ 901 4,751 8.InterfundAsets/Liabilities $ 4,95 25,259$ 5, Duefrom/tothersatJune30,202 GeneralFund SpecialRevenueFunds $41,109 Receivables Interfund $ CapitalProjectFund lnterfund Payables EnterpriseFund $ , ,089 $59,089 3~268 20

21 NotestotheFinancialStatements 9.IntergovernmentalCoperativeAgrement AsofandfortheYearEndedJune30,202 OnDecember12,t984,theVilagenteredintoanagrementwiththeTangipahoaParishCounciltoalowtheParish Section8Programtoperatewithinitscorporatelimits.TheU.S.DepartmentofHousingandUrbanDevelopment (HUD)alowstheseprogramstoperatewithincomunitieswithoutsuchprograms.TheVilagehasatemptedtofind suchasistancethroughfederalandstaterentalsubsidyprograms,buthasbenturnedownforsuchasistance becauseofitsmalsizeandthecutbackinfederalfundingforhousing. 10.RestrictedAsets-EnterpriseFund RestrictedasetswereasfolowsatJune30,202 Customers'Deposits Thefolowingisasumaryofchangesincontributedcapital 1.ChangesinContributedCapital $ 18~ BalanceatJune30,20] Aditions BalanceatJune30,202 $1,171,767 $1,171, LitigationandClaims AtJune30,202,theVilageisawareofoneasertedclaim;however,theIikelihodofanunfavorableoutcomecanot bedetermined,andanypotentialoscanotbestimated. 13.SanitationContract TheVilagecontractswithWasteManagement,Inc.forthepickupandisposalofsolidwaste.Salestaxintheamount of~ofi%isdedicatedtopayforthecostofthiscontract. 14.DeficitFundBalance TheVilageofTangipahoahasadeficitfundbalanceintheCOPSUHPSpecialRevenueFundatJune30,202.The VilageofTangipahoa'smanagementplanstoeliminatethisdeficitbynotransferingthe50%ofthefinescolected tothegeneralfunduntilthedeficitfundbalanceineliminated.

22 SuplementalInformationSchedules

23 GeneralFund ThegeneraloperatingfundoftheVilageacountsforalfinancialresources,excepthoserequiredtobeacounted forinotherfunds.

24 BalanceShet GeneralFund June30,202.AsetsCash&CashEquivalents TaxesReceivable: DueFromOtherFunds PublicUtilityFranchiseTax DueFromOtherGovernments: LouisianaBerTaxDistribution TotalAsets Liabilities&FundEquity Liabilities: AcountsPayable FundEquity: PayrolTaxesPayable Unreserved&Undesignated TotalLiabilities TotalFundEquity TotalLiabilities&FundEquity ScheduleI 12,236 41,109 1,673 5, , Theacompanyingnotesareanintegralpartofthesestatements. 24

25 ScheduleofRevenues,Expenditures,andChangesinFundBalance Schedule2 Budget(GAPBasis)andActual-GeneralFund YearEndedJune30,202 Variance: Revenues Taxes:AdValorem Budget LicensesandPermits: PublicUtilityFranchise 8,70 Actual Favorable BusinesPrivilegeLicenses 6,80 9,131 Intergovemental: BuildingPermits 17,0 6,64 $ (Unfavorable) 431 2,40 24,39 (136) 3,025 7,39625 FinesandForfeits PoliceGrant LouisianaBerTaxDistribution 1,8010 1,46210 (38)(24) OtherRevenues Expenditures TotalRevenues ,897 GeneralandAdministrative: Mayor'sSalary Travel AldermenSalary 3,030 Legal 3,60 3,0 Clerk'sExpense Fes 50 3, (76) 240 Coroner CityHalMaintenance (10)60(17) DuesandSubscriptions Insurance 80 OficialJournal 2,0 287 (439) OficeSuplies&Postage PayrolTaxes,AlDepartments 80 1, TaxRol 3,0 1,057 1, (359) Metings,Conventions&Travel 1,0350 2,67 (257) UtilitiesandTelephone ParkExpense 1,30 1, OtherExpenditures 5,5050 1,496 TotalGeneralandAdministrative ,0 4, (107)2(196) , (53) 685 (Continued) Theacompanyingnotesareanintegralpartofthesestatements.

26 ScheduleofRevenues,Expenditures,andChangesinFundBalance Budget(GAPBasis)andActual-GeneralFund YearEndedJune30,202 PublicSafety: PoliceDepartment: Salaries AutoExpense Suplies Insurance Telephone OtherExpenditures TotalPoliceDepartment FireDepartment TotalPublicSafety StretsMaintenance&Repairs Strets&TraficLights TotalStrets CapitalOutlay: General&Administration PoliceEquipment StretDepartment TotalCapitalOutlay TotalExpenditures ExcesRevenues(Expenditures) OtherFinancingSources(Uses) OperatingTransferIn-EnterpriseFund OperatingTransferIn-SpecialRevenueFund TotalOtherFinancingSources(Uses). ExcesRevenues&OtherSources (Expenditures&OtherUses) FundBalance,BeginingofYear FundBalance,EndofYear Concluded) Theacompanyingnotesareanintegralpartofthesestatements. $ 16,80 6,0 2,50 5,01,80 2,90 35,0 4,20 39,20 8,0 8,60 6,050 6,50 80,090 Actual $16,80$ 5,983 1,974 6,159 1,957 4,067 36,940 4,20O ,353 7, Schedule2 Variance: Favorable (Unfavorable) (1,159) (157) (1,167) (1,940) (1,940) (1,296)38 (958) (1,96) (42,790) (36,859) 5,931 7,0 18,90 25,90 5,605 16,414 2,019 $(16,890)(14,840) 65,573 $50,73 (1,395) (2,486) (3,81)

27 SpecialRevenueFunds COPSUHPFund-ToacountfortheVilage'sadministrationofitsparticipationintheCOPSUniversalHiring Programforlawenforcement.FundingisreceivedthroughtheU.S.DepartmentofJustice. SalesTaxFund-ToacountforthereceiptanduseofprocedsoftheVilageofTangipahoa's2%salesandusetaxes Theprocedsfromthe1%salesandusetaxarededicatedtopurchasingand/orconstructingsewers,drains,drainage canals,pumpingplants,seweragedisposalworks,andalfacilitiesnecesaryorconvenientfortheimplementationand maintenanceofanadequateseweragedisposalsystem,theacquisitionofnecesaryproperty,apurtenancesor equipment,orforanyotherlawfulcorporatepurposeinconectionwithacquisition,constructionand/ormaintenance ofsuchaseweragesystem. Theprocedsfromtheother1%salesandusetaxarededicatedforgarbagecolectionandstrets.Upto50%ofthe procedsarerestrictedforthepurposeofestablishingtheregularcolectionofgarbageandrefuse,andacquiring necesaryequipmentforthemaintenanceofsuchgarbagesystem,andtheremainderoftheprocedsistobeusedfor thepurposeofconstructingandimprovingstretsandstretlights,andacquiringnecesaryequipmentforthe maintenancethereof. SumerFodServiceProgramFund-ToacountfortheVilage'sadministrationofitsparticipationintheSumer FodServiceProgramforchildren.FundingisreceivedthroughLouisianaDepartmentofEducation,BureauofFod andnutritionservices. 27

28 CombiningBalanceShet SpecialRevenueFunds Schedule3 June30,202 COPS AsetsCash&CashEquivalents UHPFund SalesTax Sumer DueFromOtherGovements DueFromOtherFunds 19,181 Fund 15,0 58,783$ Program Fod 2,12 4,498$ Total 82,462 17,12 Liabilities&FundEquity TotalAsets Liabilities: AcountsPayable AcruedPayrolTaxes DeferedRevenue 254 DuetoOtherFunds 43, ,35$ 2,925$ 314 FundEquity: FundBalance: TotalLiabilities ,286 58, ,914 6, Unreserved&Undesignated TotalFundEquity TotalLiabilitiesand FundEquity (10,709) 34,181$60,905 2, $ 4,498$ (7,486) 9,584 Theacompanyingnotesareanintegralpartofthesestatements. 28

29 CombiningScheduleofRevenues,Expenditures,andChangesinFundBalance Budget(GAPBasis)andActual-SpecialRevenueFunds YearEndedJune30,202 COPSUHPFund SalesTaxFund Revenues SalesTaxes Fines GarbageFes 15,70 $ Intergovernmental-Grants Miscelaneous Interest 10,50 Actual Variance: Favorable 15,585 $ (Unfavorable)Bud~etActual Variance: Favorable (15) -$38,0$38,591$591 (Unfavorable) 10,086 (414) 18,5018,425 (75) TotalRevenues 57, ,05 2, Expenditures 2,780 3,05 (241) PoliceDepartment ProfesionalFes 38,45038,6.70 (20) HealthandWelfare: OficeSuplies Garbage SumerFodP~'ogram: 29,20 29,390 (190) FodCost Disposal PayrolTaxes Salaries Rent BusService Utilities OtherExpenditures TotalExpenditures 38,45038,670(20)29,2029,390(190) ExcesRevenues(Expenditures) OtherFinancingSources(Uses) OperatingTransferOut-EnterpriseFund OperatingTransferOut-GeneralFund(9,50)(6,76)2,734(9,40)(9,648)(248) (18,750)(19,296)(546) ExcesRevenues&OtherSources TotalOtherFinancingSources(Uses)(9,50)(6,76)2,734(28,150)(28,94)(794) FundBalance,BeginingofYear FundBalance(Deficit),EndofYear (Expenditures&OtherUses) $(10,709) (19,765)$1,985(350) 9,056 1,721$2, Theacompanyingnotesareanintegralpartofthesestatements. 29

30 Schedule4 SumerFodProgram $ Budset $ 15,0 Actual Variance: Favorable Total (Unfavorable)Budget 38,0$ Actual(Unfavorable) Variance: Favorable 13,201 15,70 18,50 38,59l$ (1,79)15 25,50 23,287 15,585 18,425 (15) 15,013,356(1,64) 98, , (2,213) 9,082 2,935 (75) (241)82 38,450 38,670 (20) 29,20 29,390 (190) 4,0750 6,20 1,0 4,50686 (506) 4,0 5, , ,20 1, ,506 5, ,80 1, , (650) 1,20 (506) , ,450 1, ,861 1, ( (18,750) (18,90) (37,650) (19,296) (16,414) (35,710) 2,486 1,940 (546) $20 (45) 1, $_(7,486) 1,03

31 CapitalProjectFunds LCDBGSewerImprovements-Toacountforsewerdrainageimprovementsgrantproject. LHFAHomeSHARE-Toacountforthelowincomehousingimprovementsprojectgrant.

32 CombiningBalanceShet Schedule5 CapitalProjectFunds June30,202 Asets Improvements LCDBG Sewer SHARE LHFA Home Total Cash&CashEquivalents DueFromOtherGovernments TotalAsets $.25,258 25,309$ 51$ 209$ 209 $25,518 25, Liabilities&FundEquity Liabilities: AcountsPayable RetainagePayable 203,784$ FundEquity: DuetoOtherFunds 21, ,784 21,475 FundBalance: TotalLiabilities 10I Unreserved&Undesignated TotalFundEquity TotalLiabilitiesandFundEquity Theacompanyingnotesareanintegralpartofthesestatements. 32

33 CombiningScheduleofRevenues,Expenditures,andChangesinFundBalance YearEndedJune30,202 CapitalProjectFunds Schedule6 LCDBG Sewer LHFA Revenues GrantRevenue Improvements Home Interea $258,761$ SHARE 120,842$ Total OtherRevenue Expenditures TotalRevenues , CapitalOutlay TotalExpenditures 258, ,86 ExcesRevenues(Expenditures) OtherFinancingSources(Uses) OperatingTransferIn(Out)-GeneralFund ExcesRevenues&OtherSources TotalOtherFinancingSources(Uses) FundBalance,BeginingofYear (Expenditures&OtherUses) 50 FundBalance,EndofYear 50$ 109$ (5) Theacompanyingnotesareanintegralpartofthesestatements.

34 ProprietaryFund Toacountfortheprovisionofnaturalgas,water,sewer,andsewerdisposalservicestocustomersandresidentsof EnterpriseFund thevilage.alactivitiesnecesarytoprovidesuchservicesareacountedforinthisfund,includingbutnotlimited toadministration,maintenance,financingandrelatedebtservice,andbilingandcolections. 34

35 BalanceShet ProprietaryFund-EnterpriseFund June30,202 AsetsCurentAsets: Cash&CashEquivalents AcountsReceivable,Net PrepaidInsurance DueFromOtherFunds TotalCurentAsets RestrictedAsets-CustomerDeposits: Cash&CashEquivalents Property,PlantandEquipment: Building UtilityPlant,InService Equipment AcumulatedDepreciation NetProperty,Plant&Equipment TotalAsets" Liabilities&FundEquity Liabilities: CurentLiabilities(PayablefromCurentAsets): AcountsPayable DueToOtherFunds SalesTaxPayable TotalCurentLiabilities(PayablefromCurentAsets) CurentLiabilities(PayablefromRestrictedAsets): CustomerDeposits TotalLiabilities FundEquity: ContributedCapital AcumulatedAmortization RetainedEarnings,Unreserved TotalFundEquity TotalLiabilities&FundEquity Theacompanyingnotesareanintegralpartofthesestatements. 35 Schedule7 151,673 21,417 6,158 17, , ,010 1,39,985 42,747 (63,076) ,751 3, !8,207 26,540 1,171,767 (482,510) 20,

36 Budget(GAPBasis)andActual-ProprietaryFund-EnterpriseFund ScheduleofRevenues,Expenses,andChangesinRetainedEarnings Schedule8 YearEndedJune30,202 OperatingRevenues GasSales LesCostofGasSold 3,0$ Actual 3,139$ (Unfavorable) Variance: Favorable WaterSales SewerageServiceCharges GrosProfitonGasSates (18,0) 68,0 15,0 (17,509~ ConectionCharges 23,0 15,630 74,190 24,989 6,190 1, DelinquentCharges Miscelaneous TotalOperatingRevenues , , OperatingExpenses GasDepartment Salaries Insurance 9,50 OficeSupliesandPostage 2,0 5,102 PayrolTaxes ProfesionalServices 7O 1,15 InspectionFes 4,50 65O 915 4, (215) OperatingSuplies,Repairs,andMaintenance TruckandTractorExpense 95O 6, (2,151) 361 UtilityBilingFes OtherExpenses 7,507509O WaterDepartment Depreciation TotalOperatingExpenses-Gas ,10 10, (3,275) 320 (131) , Salaries h~surance OficeSupliesandPostage 9,80 5,34 4,46 15o PayrolTaxes ProfesionalServices 2, Utilities OperatingSuplies,Repairs,andMaintenance 2,0O 1, (215) 50 6,0 1,30 TruckandTractorExpense UtilityBilingFes 5,075O 5,414 OtherExpenses Depreciation 2, , , TotalOperatingExpenses-Water 10,80 2,642 1,52 41,40 10,548 (1,742) (105) 32,649 1, (Continued) Theacompanyingnotesareanintegralpartofthesestatements. 36

37 ScheduleofRevenues,Expenses,andChangesinRetainedEarnings Budget(GAPBasis)andActual-ProprietaryFund-EnterpriseFund YearEndedJune30,202 OperatingRevenues SewerDepartment Salaries Insurance OficeSupliesandPostage PayrolTaxes ProfesionalServices Utilities OperatingSuplies,Repairs,andMaintenance TruckandTractorExpense UtilityBilingFes OtherExpenses Depreciation TotalOperatingExpenses-Sewer TotalOperatingExpenses 9,60O$ 2,085O650 2,60 1,80 5,0 1,090 4,050 19,250 47,70 18,50 Actual 18,486$ 1, ,29 1,30 1,459 3,404 2,125 2,642 2, ,59 16,057 NetOperatingIncome(Los) 1,90 13,574 NonoperatingRevenues(Expenses) InterestIncome TotalNonoperatingRevenues(Expenses) OperatingTransfersIn(Out) SalesTaxFund GeneralFund TotalOperatingTransfersIn(Out) NetIncome(Los) UnrestrictedRetainedEarnings,BeginingofYear AmortizationofContributions UnrestrictedRetainedEarnings,EndofYear (Concluded) Theacompanyingnotesareanintegralpartofthesestatements ,750 (7,0) , ,296 (5,605) , ,309 26,872 $'20,562 Schedule8 Variance: Favorable (Unfavorable) (8,86) 845(65) (649) 1, ,596 (1,125) (1,742) 1,29729 (6,859) ,

38 ProprietaryFund-EnterpriseFund ScheduleofCashFlows Schedule9 YearEndedJune30,202 CashFlowsfromOperatingActivities OperatingIncome(Los) AdjustmentstoReconcileOperatingIncometoCashProvided(Used)byOperatingActivities: Depreciation 13,574 ChangeinAcountsReceivable 30,204 ChangeinPrepaidExpenses ChangeinAcountsPayable (1,353) ChangeinSalesTaxPayable (6,158) ChangeinDueTo/FromOtherFunds ChangeinCustomerDepositsPayable NetCashProvided(Used)byOperatingActivities (4,38) 2, ,810 CashFlowsfromNoncapitalFinancingActivities OperatingTransfersIn OperatingTransfersOut 19,296 CashFlowsfromCapitalandRelatedFinancingActivities NetCashProvided(Used)byNoncapitalFinancingActivities (5,605) FixedAsetPurchases InterestIncome (1,350) NetCashProvided(Used)byCapitalandRelatedFinancingActivities 1.16 NetIncrease(Decrease)inCash Cash,BeginingofYear 50,498 Cash,EndofYear Theacompanyingnotesareanintegralpartofthesestatements. 38

39 ComparativeScheduleofNaturalGasSalesandPurchases Schedule10 YearsEndedJune30,202,201,20,and19 ProprietaryFund-EnterpriseFund GasSales GasPurchases Volume(MCF) Amount(Dolars) $ 2,708 3,139 53,494 3,797 $ 32,484 3,970 32,848 3,379 Volume(MCF) Amount(Dolars) GrosProfitonGasSales GrosProfitPercentofSales $ 17,462 15,67 3, %$ ,853 4,461 UnacountedforGasPurchases 3.37% $$ 13,725 18,759 4, % $ $19,986 4,604 12, % Volume(MCF) CostoVilage PercentofPurchases $ 3,193$ MetersinService 18.29% 5,305$ % 7261$ 1, % % 3,42 80 AverageAnualSalesPerCustomer Amount(Dolars) Volume(MCF) $ $ l DolarsPerMCF GasSales GasPurchases GrosProfit UnacountedforGas (5.27) (7.9) 8.18 (3.39) (2.79) $ 4.70$ 4.72$ 5.92 Theacompanyingnotesareanintegralpartofthesestatements 39

40 GeneralFixedAsetsAcountGroup Toacountforfixedasetsnotusedinproprietaryfundoperations

41 GeneralFixedAsetsAcountGroup ScheduleofGeneralFixedAsets June30,202 GeneralFixedAsetsatCost Land BuildingsandImprovements FurnitureandFixtures EquipmentandVehicles InvestmentinGeneralFixedAsets TotalGeneralFixedAsets GeneralFund FederalRevenueSharing SalesTaxFund TotalInvestmentinGeneralFixedAsets Note:certainimprovements,suchastretsandsidewalks,arenotcapitalized. Schedule1 3,360 4, ,413 Theacompanyingnotesareanintegralpartofthesestatements 41

42 ScheduleofCompensationPaidElectedOficials YearEndedJune30,202 Schedule12 JamesFultz,Mayor PerDiemPavrnents Term Compensation FYE6/30/01 Received PostOficeBox156 Tangipahoa,LA70465 (985)29-63 EdieMyers,MayorPro-Tern 01/01/01to12/31/04 3,0 PostOficeBox128 Tangipahoa,LA70465 (985) MaryMcLeary,Alderwoman 01/01/0ltot2/31/04 1,20 PostOficeBox14 Tangipahoa,LA70465 (985) BrendaV.Nevels,Alderwoman 01/01/01to12/31/04 1,20 PostOficeBox13 Tangipahoa,LA70465 (985) RichardF.Banks,PoliceChief 01/01/01to12/31/04 1,20 PostOficeBox131 Tangipahoa,LA /01/01to12/31/04 16,80 23,40 Theacompanyingnotesareanintegralpartofthischedule 42

43 SuplementalInformationSchedules AsofandfortheYearEndedJune30,202 InacordancewithOficeofManagementandBudgetCircularA-13,schedulesofexpendituresofederalawards, ExpendituresofFederalAwardsandAuditFindingsResolution folow-upandcorectiveactiontakenonpriorauditfindings,andcorectiveactionplanforcurentyearauditfindings arepresented.

44 ScheduleofExpendituresofFederalAwards June30,202 Schedule13 Pas-ThroughGrantor FederalGrantor ProgramTitle Federal CFDA Number Pas-Through Grantors Number Expenditures Federal U.S.DepartmentofAgriculture PasedthroughStateDepartmentofEducation,Fod andnutritionservices: U.S.DepartmentOfJustice SumerFodServiceProgram(SFSPC) SFSP-054 $ 10,876 DirectPrograms: PublicSafetyandComunityPolicingGrants UMWX095 39,586 U.S.DepartmentofHousingandUrbanDevelopment ComunityDevelopmentBlockGrants/SmalCities, PasedthroughStateDivisionofAdministration: FY201LCDBG-SewerImprovements Note1.BasisofPresentation TotalExpenditureofFederalAwards Contract $309,23 258,761 ThischeduleofexpendituresofederalawardsincludesthefederalgrantactivityoftheVilageofTangipahoa andispresentedonthemodifiedacrualbasisofacounting.theinformationinthischeduleispresented inacordancewiththerequirementsofombcirculara-13,auditsofstates,localgovernments,and Non-ProfitOrganizations.Therefore,someamountspresentedinthischedulemaydiferfromamounts Note2.DeferedRevenue presentedin,orusedinthepreparationof,thefinancialstatements. AtJune30,202,theVilageofTangipahoarecordedthefolowingamountsasdeferedrevenue PublicSafetyandComunityPoticingGrants(CFDA16.710) Theacompanyingnotesareanintegralpartofthesestatements

45 SumaryScheduleofPriorYearAuditFindings Schedule14 FortheYearEndedJune30,202 SectionI-InternalControlandComplianceMaterialtotheFinancialStatements ReferenceNumber:201-Ci FiscalYearFindingInitialyOcured:June30,201 DescriptionofFinding:ForthefiscalyearendingJune30,201,wenotedthatfortheGeneralFund,actual expenditureswere8.6%inexcesofamountsbudgetedforthefiscalyear. CorectiveActionTaken:Final SectionlI-InternalControlandComplianceMaterialtoFederalAwards TherewerenoSectionIfindings. SectionHI-ManagementLeter TherewerenoSectionIlIfindings. 45

46 CorectiveActionPlanforCurentYearAuditFindings Schedule15 FortheYearEndedJune30,202 SectionI-InternalControlandComplianceMaterialtotheFinancialStatements ReferenceNumber:202-CI DescriptionofFindings: AtJune30,202,theVilageofTangipahoawasundercolateralizedby$5,714.Thisisaviolationofstatelaw CorectiveActionPlaned(ResponsebyManagement) Wewilcontactourbankandrequestaditionalcolateral.Also,wewilmonitorouracountbalancesmore closelytodeterminewhenwenedtorequestaditionalcolateralinthefuture. AnticipatedCompletionDate December31,202 NameofContactPerson: MayorC.JamesFultz PostOficeBox156 Tangipahoa,LA70465 (985) ReferenceNumber:202-C2 DescriptionofFindings: DuringtheauditoftheyearendedJune30,202,wenoticedthatheVilageofTangipahoahadseveralrelated partytransactions.thesetransactionsarelistedasfolows: 1)TheVi~age~sGenera~Fundpurchased~cesup~ies~su~has~c~eaningsup~iesa~d~eduringthe year,fromalocalstoreownedbythemayor'sbrother.theamountofthesepurchasestotaled$1, )TheVilage'sSumerFodProgrampaidthechiefofpolice$1,450fortheuseofhischolbusto CorectiveActionPlaned(ResponsebyManagement): transportchildrenfortheprogram. Wewilnolongerpurchaseitemsfromthestorebelongingtothemayor'sbrotherinthefuture.Also,wedidnot realizethatpayingthechiefofpolicefortheuseofhischolbuswasaproblem.wewildiscontinuethisinthe future.

47 CorectiveActionPlanforCurentYearAuditFindings FortheYearEndedJune30,202 Schedule15 AnticipatedCompletionDate:December31,202 NameofContactPerson: MayorC.JamesFultz PostOficeBox156 Tangipahoa,LA70465 SectionH-InternalControlandComplianceMaterialtoFederalAwards (985) ReferenceNumber:202-F1 DescriptionofFinding: Thisfindingapliestoanon-majorprogram,theU.S.DepartmentofJusticePublicSafetyandComunityPolicing Grantsprogram(CFDA16.710).ForthefiscalyearendingJune30,-202,totalfundsreceivedto-date(including anacrualof$15,0forfundsreceivedjuly202)totaled$83,50.however,expendituresforeligibleproject salariestotaledonly$39,586,resultingindeferedrevenueof$43,914.werecomendthefolowingactions 1)Suspendalrequestsforfundsuntilfundsrequestedarexpended. 2)Corecthenextquarterlyreportoindicateonlyfundsexpendedforeligiblesalarycosts. 3)BasefuturerequestsforfundsoncompiledstatementsthatreporthequarterlyexpenditureforCOPS 4)Monitorexpendituresandsubmitgrantamendmentrequest(s),budgetingaditionalfundsforsalaries eligiblesalaries. and/orequestextensionofgrantperiodasrequired. CorectiveActionPlaned(ResponsebyManagement) AnticipatedCompletionDate Wewilimplementheaboverecomendations Wewilimplementrecomendation#1imediately,wilrevisequarterlyreportsandrequestsforfundsas NameofContactPerson: required,andwilreviewthenedforgrantamendments. MayorC.JamesFultz PostOficeBox156 Tangipahoa,LA70465 SectionHI-ManagementLeter (985) NoFindingsforSectionIi. 47

48 ScheduleofFindingsandQuestionedCosts Schedule16 FortheYearEndedJune30,202 I.TypeofReportIsuedontheFinancialStatements. AunqualifiedopinionwasisuedonthefinancialstatementsfortheVilageofTangipahoa. TherewerenoReportableConditionstobereportedinacordancewithGovernmentalAnditingStandards I.DisclosureofReportableConditionsinInternalControl. HI.Disclosureofnoncompliancematerialtothefinancialstatements. TheresultsofourtestsdisclosedinstancesofnoncompliancethatarerequiredtobereportedunderGovernment AuditingStandardswhicharedescribedintheacompanyingSumaryScheduleofPriorYearAuditFindingsas ReferenceNumbers201-C-1,andwithintheCorectiveActionPlanforCurentYearAuditFindingsasReference Numbers202-C1,and202-C2,and202-F1.WeconsiderReferenceNumbers202-C1,202-C2,and202-F1 tobematerialtothefinancialstatements. IV.DisclosureofReportableConditionsinInternalControloverMajorPrograms. TherewerenoReportableConditionsreportedfortheMajorProgramfortheVilageofTangipahoa. V.TypeofReportIsuedforMajorPrograms Unqualified. VI.DisclosureofAuditFindingsRequiredtobeReportedunderS.510AuditFindings. TherewerenofindingstobereportedunderS.510AuditFindings. VI.IdentificationofMajorPrograms. TheMajorProgramidentifiedfortheVilageofTangipahoa,forthefiscalyearendingJune30,202,wastheU.S DepartmentofHousingandUrbanDevelopmentComunityDevelopmentBlockGrantProgram(CFDA14.219) VIH.DolarThresholdtoDistinguishBetwenType"A"andType"B"programs. Expendituresof$30,0.

49 ScheduleofFindingsandQuestionedCosts Schedule16 FortheYearEndedJune30,202 IX.StatementastoWhethertheAuditequalifiedasLow-RiskAuditeunderS.530. No.TheVilageofTangipahoadidnotqualifyasalow-riskauditeundertheprovisionsofS.530 X.FindingswhichmustbeReportedinacordancewithGAGAS. FindingsweredisclosedwithintheacompanyingSumaryScheduleofPriorYearAuditFindingsasReference Numbers20I-C-1,andwithintheCorectiveActionPlanforCurentYearAuditFindingsasReferenceNumbers 202-C1,202-C2,and202-Fl. XI.FindingsandQuestionedCostsforFederalAwards. TherewerenofindingsorquestionedcostsforMajorPrograms.However,findingsweredisclosedfornon-major programsasreferencenumber202-ft. 49

50 BruceC.HarelLCPA WarenA.Wol,CPA MichaelP.Estay,CPA DaleH.Jones,CPA CharlesEHebert,CPA JamesD.Rabalais.CPA INTERNET w.tearncpa,com MEMBERS AmericanInstituteofCPAs SocietyofLouisianaCPAs P.O.Box45-909AvenueG Kemwod,LA704 VOICE:(985) FAX:(985) WestMinesotaPark ParkPlaceSuite7 Hamond,LA70403 VOICE:(985) FAX:(985) ReportonComplianceandonInternalControloverFinancialReportingBasedonanAuditofFinancial StatementsPerformedInAcordancewithGovernmentAuditingStandards TheHonorableMayorC.JamesFultz andmembersoftheboardofaldermen WehaveauditedthefinancialstatementsoftheVilageofTangipahoa,asofandfortheyearendedJune30,202,and haveisuedoureporthereondateddecember27,202,whichwasunqualified.weconductedourauditin acordancewithauditingstandardsgeneralyaceptedintheunitedstatesofamericandthestandardsaplicable tofinancialauditscontainedingovernmentauditingstandards,isuedbythecomptrolergeneraloftheunited States. Compliance AspartofobtainingreasonableasuranceaboutwhethertheVilageofTangipahoa'sfinancialstatementsarefreof materialmistatement,weperformedtestsofitscompliancewithcertainprovisionsoflaws,regulations,contractsand grants,noncompliancewithwhichcouldhaveadirectandmaterialefectonthedeterminationofinancialstatement amounts.however,providinganopiniononcompliancewiththoseprovisionswasnotanobjectiveofourauditand, acordingly,wedonotexpresuchanopinion.theresultsofourtestsdisclosedinstancesofnoncompliancethatare requiredtobereportedundergovernmentauditingstandardswhicharedescribedintheacompanyingsumary ScheduleofPriorYearAuditFindingsasReferenceNumbers202-CI,andwithintheCorectiveActionPlanfor CurentYearAuditFindingsasReferenceNumbers202-C1,202-C2,and202-F1. InternalControlOverFinancialReporting Inplaningandperformingouraudit,weconsideredtheVilageofTangipahoa'sinternalcontroloverfinancial reportinginordertodetermineourauditingproceduresforthepurposeofexpresingouropiniononthefinancial statementsandnotoprovideasuranceontheinternalcontroloverfinancialreporting.ourconsiderationofthe internalcontroloverfinancialreportingwouldnotnecesarilydisclosealmatersintheinternalcontroloverfinancial reportingthatmightbematerialweakneses.amaterialweaknesisaconditioninwhichthedesignoroperationofone ormoreoftheinternalcontrolcomponentsdoesnotreducetoarelativelylowleveltheriskthatmistatementsin amountsthatwouldbematerialinrelationtotheprimarygovernmentfinancialstatementsbeingauditedmayocurand notbedetectedwithinatimelyperiodbyemployesinthenormalcourseofperformingtheirasignedfunctions.we notednomatersinvolvingtheinternalcontroloverfinancialreportinganditsoperationthatweconsidertobematerial weakneses. 50