Release D~I~-C ~'(I~_0~

Transcription

1 V ILL A G E O F PL A U C H EV ILL E, L O U ISIA N A FinancialR eport Y earended June 30,2000 Underprovisions ofstate law,this reportis a public docum ent.a copy ~:~~' ere pot!i; :[,~~n,.:,,[;;,;~'~l.ed to the entity ~:r:d od :op~i:-~t<.t::ico~ii'.:ik,',s.the reportis ;bcailabk { i~;t.;lic ir~ -:r!~ :,o ~,:L!',~k~aton Rouge cffz zof',. -} ~i,~-,! ~,,i,w here approplibte,attl'~o oi~.~ :ul~,c poli=;ilcicik ofcourt. Release D~I~-C ~'(I~_0~ _

2 TA BLE OF CON TEN TS Page IN D EPEN D EN T A U D ITO RS'REPO RT 1-2 G EN ERA L PU RPO SE F'IN AN CIA L STA TEM EN TS (COM BINED STA TEM ENTS -OVERVIEW ) Com bined balance sheet-allfund typesand accountgroup Com bined statem enlof revenues,expenditures,and changes in fund balances-allgovernm entalfund types Com bined statem entof revenues,expenditures,and changes in fund balances-budget(g AAP basis)and actual-allgovernmentalfund types C om parative statem entof revenues,expenses,and changes in retained earnings-.proprietary fund type Com parative statem entof cash flow s-proprietary fund type N otesto financialstatem ents SU PPLEM EN TA RY IN FO RM A TION SC H ED U LES O F IN DIV IDU A L FUN D S G enerall:uud: Com parative balance sheet Slatem entof revenues,expenditures,and changesin fund balances-budget(gaap basis)and actual Statementofrevenuescompared to budget(gaap basis) Statementof expenditurescompared to budget(gaap basis) SpecialR evenue Fund: Com parative balance sheet Statem entof revenues,expenditures,and changesin fund balances-budget(gaap basis)and actual Enterprise Fund: Com parative balance sheet Com parative statem entof revenues,expenses, and changes in retained earnings Com parative statem entof cash flow s

3 TA BLE O F CON TEN TS Page CO M I'L1AN CE AN D IN TERN A L CON TRO L Reporton Com pliance and on InternalControl overfinancialreporting Based on an A uditof FinancialStatem entsperform ed in A ccordance w ith G overn m enta uditinu Standards Sum m ary schedule of currentand prioryearauditfindings and corrective action plan O TH ER SUPPLEM EN TA RY IN FO RM A TIO N N um berof watercustom ers(unaudited) Schedule of waterrates(unaudited) Scheduleofinsurancein force (unaudited)

4 C 13urlon KolS6r CPA RusselF Champagne, CPA VictorF~Stai n CPA ChrisRainey,CPA Conrad0 Chap'~an, CPA P Troy Courvilo.CPA N l(,n J LaBfy,CPA PennyA~getle Scmggins CPA M ary~ ThibodBaux. CPA Gerard A ThlbCdeau~, Jr.CPA Kely M D~ I, CPA Kenneth J Rachal, CPA IisaG Spain,CPA K O L.D ER,C HA M PA G N E,S LA V EN & RA IN EY,Lt.C CERTIFIED PUBLIC ACCOUNTANTS P.O.Box 531 M arksvile,la Phone (318) Fax (318) W EB SITE '~ KCSRC PAS COM MEMBER OF: AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS SOCIETY OF LOUISIANA r;ertifed PUBLIC ACCOUNTANTS IN D EPEN DEN T AU D ITO R S'REPO RT The ;]onorablc TerrylSt.Rom ain,m ayor and M em bersoflhc Board of A lderm an Plaucheville,Louisiana W e have audited the accom panying general purpose financial statem ents of the V illage of l'lanchcville,l,ouisiana,as of and forthe yearended Juue 30,2000, aslisted in the table of contents. These generalpurpose financialstatem entsare the responsibility of the V illage'sm anagem ent. O urresponsibility is Io expressan opinion on these generalpurpose financialstatem entsbased on ouraudit. W e conducted ourauditin accordance w ith generally accepted auditing standards and G overnm ent Auditing Standa~[s_,issued by the ComptrolerGeneralof the United States.Those standardsrequire thatwe plan and perform the audit to obtain reasonable assurance about w hether the general purpose financial statem ents are fi'ee of m aterial m isstatem ent. A n audit includes exam ining, on a test basis, evidence supporting the am ounts and disclosures in the generalpurpose financialslalem ents. A n auditalso i~clndes assessing the accounting principlesused and significantestim atesm ade by m anagem ent,asw ellasevaluating the overallgeneralpurpose financialstatem entpresentation. W e believe thatourauditprovidesa reasonable basisforouropinion. In our opinion, the general purpose financial statem ents referred to above present fairly, in all m aterialrespects,the financialposition of the V illage of Plaucheville, Louisiana,asofJune 30,2000,and the rest Itsof itsopcralionsand cash flows of its proprietary fund type for the yearthen ended, in conforu ity w ith generally accepted accounting principles. In accordance w ith G overnm enta uditing Standards,w e have also issued a reportdated Septem ber 27,2000,on ourconsideration of the V illage of Plaucheville'sinternalcontroloverfinancialreporting aud our testsof itscom pliance w ith law sand regulations. 214RueBeauregatd tge)ette.i.a 7OSO8 Phom.(337J ~a~(1~7)2328~ 1 t13 rj:,tllrld~:rstre,~ 133~ t~'addl 1234 David [)rive. Suite ~,CouonSt,eel Bl~auxB dge, IA M arksvill~,la? 1351 M organcity,i.a VillePlatte. I,A Phone1337} Phone(318) Phone(SN) Phone(337) Fax(3~7] ~ax(318) Fa~(504)3B Fax(337) W Sixth Avenue Oberlin.1.A Phone(337~ tax(337) O0 South Main SU~, Abbeville.LA 7051I Phone(337)893794'1 F~x037)

5 The financialinform ation forthe preceding year,w hich is included for com parative purposes,was taken from the financialreportfor that year in w hich w e expressed an unqualified opinion on the general purpose financialstatem entsof the V illage of Plaucheville,Louisiana. K older,champagne,slaven & R ainey,ll C Certified Public A ccountants M arksville,louisiana Septem ber27,2000

6 G EN ER A L PU R PO SE FIN AN CIA L STA TEM EN TS (CO M BINED STATEM FNTS -OVERVIEW )

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9 VILLAG E O F PLA UCH EVILLE,LOUISIA NA (;om bined Statem entof Revenues,Expenditures,and Changesin Fund Balances- A llg overnm entalfund Types YearF.nded June 30,2000 General Special Revenue Totals (M emorandum Only) Revenues: Taxes Franchise fees Licenses an.]perm its Intergovem m cntal Finesand forfeits M iscellaneous Totalrevenues $ 4,080 10,722 17, ,152 2,863 12, ,559 $ 23,081 2,297 25,378 $ 27,161 10,722 17, ,152 2,863 14, ,937 $ 23,545 10,104 14,726 49,105 1,869 10, ,195 Expenditures: Current- G eneralgovernm ent Public satety: Police Fire Streetsand drainage Recrealioa Capitaloutlay Totalexpenditures ,927 3, , , , ,927 3, , , ,579 46,851 17,980 2, ,855 5,009 75,797 Excess(deficiency)of revenues overexpenditures (56,739) 25,097 (31,642) 34,398 Otherfinancing sources(uses): O perating transfersin O perating transfersout To alotherfinancing sources(uses) 55,532 55,532 (54,251) (54,251) 55,532 (54,251) (2,479),28! (2,479) Excess(deficiency)of revenuesand other sourcesoverexpendituresand otheruses (1,207) (29,154) (30,361) 31,919 Fund balances,beginning 64, , , ,848 Fund balances,ending $ 63,556 $ 72,850 $136,406 $166,767 The accom panying notesare an integralpartof thisstatem ent 6

10 V ILLA G E O F I'LAU CIIEV IIJJE,LOU ISIAN A Com bined Statem entof Revenues,Expendituresand Changesin Fund Balances- Budget(GAAP Basis)and Actual- A llg overnm entalfund Types Y earended June 30,2000 GeneralFund SpecialRevenue Fund Variance - Favorable Budget Actual (Unfavorable) Budget Actual Variance - Favorable (Unfavorable) Revenues: "]'axes Franchise fccs l,iecnsesand pernfits lntcrgovernm ental Finesand forfeits M iscellaneous Totalrevem les $ 4,036 10,484 14, ,211 2,400 9, $ 4,080 10,722 17, ,152 2,863 12, ,559 $ ,863 (1,059) 463 2, $ 22,500 $ 23, ,297 22,750 25,378 $ 581 2,047 2,628 Expenditures: Current- G eneralgovern m ent Public safety: Police Fire Streetsanddrainage Recreation Capitaloutlay 51,390 22,600 3,000 1,100 3, ,668 56,149 24,927 3, , ,709 (4,759) (2,327) (720) 901 (1,294) 1, Totalexpenditures 216, ,298 (6,240) Excess(deficiency)of rcw:nuesoverexpenditures (55,927) (56,739) (812) 22,450 25,097 2,647 Otherfinancing sources(uses): O perating transfersin O perating tnm sfersout Totalotherfinancing sources(uses) 54,251 55,532 1,28 (54,251) (54,251) 54,251 55,532 1,281 (54,251) (54,251) l)eficiency of revenuesand and othersources over expendituresand other uses (1,676) (1,207) 469 (31,801) (29,154) 2,647 Fund balances,beginning , Fund balances,ending $ 63,087 $ 63,556 $ 469 $ 70,203 $ 72,850 $ 2,647 The accom panying notesare an integralpartof thisstatem ent. 7

11 V ILLAG E O F PLA UCH EVILLE,LO UISIAN A Com parative Statem entof Revenues,Expenses,and Changesin Retained Earnings- Proprietary Fund Type Y earsended June 30,2000 and 1999 Enterprise O perating revenues: Chargesforservices- W aterserv ices Connection fees M iscellaneous Totaloperating revenues O perating expenses: Salaries Payrolltaxes M aintenance and supplies U tilities O ffice supplies ]nsnrance Professionalfees M iscellaneous D epreciation Totaloperating expenses O perating incom e Nonoperating revenues(expenses) Interestincom e Sale of equipm enl Interestexpense $211,846 8,268 9, ,625 57,937 4,548 48,796 16,947 4,067 6,039 3, , ,212 25,413 6,319 1,000 (33,255) $187,828 6,177 4, ,323 55,399 3,370 42,972 17,030 2,647 7,079 2,792 2,473 58,129 91,891 6,432 25,411 4,150 (32,198) N etnonoperating expenses (25,936) (2,637) Income(loss)before operating transfers Operating transfersin (out) (523) (1,281) 3,795 2,479 Nethlcome(loss) A dd: D epreciation on fixed assetsacquired w ith capitalgrantsthat reducescontributed capitalfrom capitalgrants (1,804) 6,274 26,822 26,822 N etincrease in retained earnings Retained earnings,beginning Retained earniu~,s,ending The accom panying notesare an integralpartof thisstatem ent 8 25, ,974 $444,992 33, ,878 $419,974

12 V ILLAG E O F PLA U CH EV ILLE,LO U ISIAN A Com parative Statem entof Cash Flow s- Proprietary Fund Type Y earsended June 30,2000 and 1999 Enterprise Cash flow sfrom operating activities O perating incom e $ 25,413 $ 6,432 Adjustm enlsto reconcile operating income to net cash provided by operating activities- D epreciation C hangesilassetsand liabilities: (Increase)decrease in accountsreceivable Increase in due to otherfunds Increase in accountspayable Totaladjustments 61,838 (3,639) 12, ,333 58,129 1,810 4,654 64,593 N etcash provided by operating activities 96,746 71,025 C ash flow sfi'om noncapitalfinancing activities Operating ransfersin (out)to otherfunds (1,281) 2,479 Cash flow sfrom capitaland related financing activities: A cquisition of properly,plantand equipm ent Proceedsfi'om sale of equipm ent N etincrease in m eterdeposits Principalpaym entson bondspayable Interestpaid on bondspayable N elcash used by capitaland related financing activities (59,582) 1,000 2,999 (11,446) (35,374) (102,403) (68,781) 4,150 2,643 (15,805) (45,419) (123,212) C ash flow s fi'om investing activities: Interestreceived on interest-bearing deposits N etincrease in interest-bearing deposits N etcash provided by investing activities 14,461 (9,029) 5,432 19,698 (13,285) 6,413 (continued)

13 V ILLA G E OF PLA U CH EV ILLE,LOU ISIAN A Com parative Statem entof Cash Flow s- Proprietary Fund Type (Continued) Y earsended June 30,2000 and 1999 Enterprise N eldecrease in cash and cash equivalents Cash and cash equivalents,beginning of period (1,506) 195,067 (43,295) 238,362 Cash and cash equivalents,end of period $193,561 $195,067 Reconciliation of'cash and cash equivalentsperstatem entof cash flow s to the bala~lce sheet: Cash and cash equivalents,beginning of period - Cash and interest-bearing deposits-unrestricted Cash arid interest-bearing deposits-restricted Less: ]nleresl-bearing depositsw ith a m aturity overthree m onths "lk)lalcash and cash equivalents,beginning of period $257, ,718 (177,685) 195,067 $277, ,311 (164,400) 238,362 Cash and cash equivalents,end of period - Cash a:nd interest-bearing deposits-unrestricted Cash and interest-bearing deposits-restricted Less: Inlerest-bearing depositsw ith a m aturity overthree m onths Tolalcash and cash equivalents, end of period 250, ,494 (186,714) 93, , ,718 (177,685) 195,067 N etdecrease $ (1,506) $(43,295)

14 V ILLA G E O F PLAU CH F.V ILLE,LO U ISIAN A N otesto FinancialStatem ents (~).qum m arv of SienificantA ccounting,policies The Vilage of Plauchevile (Village)wasincorporated in 1903 undertheprovisionsof the Law rason A ct.the V illage operatesundera M ayor-board of A ldermen form of governm ent. The accounting and reporting policies of the V illage of Plaucheville conform to generally accepted accounting principles as applicable to governm ents. Such accounting and reporting proceduresalso conform to the requirem entsof Louisiana Revised Statutes24:517 and to the industry auditguide,auditsof State and LocalGovermnentalUni~. The follow ing isa sum m ary of certain significantaccounting policies A. FinancialReportin~ Entity Codification of il~c'm fe w hether: ~ the organization is legally separate (can sue and be sued in theirown name) the V illage holdsthe corporate pow ersof the organization thevillageappointsa voting majority oftheorganization'sboard the V illage isable to im pose w illon the organization the organization hasthe potenlialto im pose a financialbenefit/burden on the V illage there isfiscaldependency by the organiza tion on the V illage Based on the aforem entioned criteria,the V illage of Plaucheville has no com ponentnails. B. Basisof Presentation -Fund A ccounting The accounts of the V illage of Plaucheville are organized on the basis of fim ds and accountgroups,each of w hich is considered a separate accounting entity. The operations of each fund are accounted forw ith a separate setof self-balancing accountsthatcom prise itsassets,liabilities,fund equity,revenues,and expenditures, orexpenses,as appropriate. G overnm entresources are allocated to and accounted forin an individualfund based upon the purposesforw hich they are to be spentand the m eansby w hich spending activitiesare controlled. A ccountgroupsare reporting devices used to accountfor certain assets and liabilities of the governm entalfunds notrecolded directly in those funds.

15 V ILLA G E O F PLA UCH EV ILLE,LO U ISIAN A Notesto FinancialStatements(Continued) The V illage hasthe follow ing fund typesand accountgroup G overnm entalfund Types- G eneralfund The G eneralfund isthe generaloperating fund of the V illage. Itisused to account for all financial resources except those required to be accounted for in anotherfire d. Specialrevenue fund The specialrevenue fum lis used to account for the proceeds of specific revenue sources(otherthan expendable trustsormajorcapitalprojects)thatare legally restricted to expendituresforspecific purposes. Proprietary Fund Type - Enterprise fund Theenterprisefundisused to accountforoperations(a)thatarefinanced and operated in a m annersim ilarto privale businessenterprises-w here the intentof the gow~rning body is thatthe costs (expenses,including depreciation)of providing goodsorservicesto lhe generalpublic on a continuing basisbe financed orrecovered primarily through usercharges;or(b)wherethe governing body hasdecided that periodic determ ination of revenues earned,expenses incurred,and/ornetincom e is appropriale for capital m aintenance, public policy, m anagem ent control, accountability,orotherpurposes. The V illage of Plaueheville'senterprise fund isthe W aterfire d. A ccountg roup - G eneralfixed A ssetsa ccountg roup This is nota fund butrather an account group that is used to account for general fixed assets acquired principally for general purposes and excludes fixed assetsin the Enterprise Fund. C. ]~asisofa _ &ccounting Basis of accounting refers to w hen revenues and expenditures or expenses are recognized in the accounts and reported in the financial statem ents. Basis of accounting relates to the tim ing of the m easurem ents m ade, regardless of the m easurem entfocusapplied. 12

16 V ILLA G E O F PLA U CH EVILLE,LO U ISIAN A Notesto FinancialStatements(Continued) A llgovernm entalfundsare accounted forusing the m odified accrualbasisof accounting. Their revenues are recognized w hen they becom e m easurable and available asnetcurrentassets. Salestaxes are considered "m easurable"w hen in the bands of collecting governm ents and are recognized as revenue at that tim e. Anticipated refundsof such taxesare recorded asliabilitiesand reduclionsof revenue when they aremeasurableand theirvalidity seemscertain.othermajorrevenuesthat are considered susceptible to accrual include earned grant reverlues and other intergovermnentalrevenues,chargesforservices,intereston interest-bearing deposits and fi'anchise fees. Licenses, perm its, and fines are recognized w hen received becausethey are notobjectively measurable. Expenditures are generally recognized underthe m odified accrualbasis of accounting w hen the related fund liability is incurred.how ever,intereston general long-term debtis recognized w hen due and purchases of various operating supplies are regarded asexpendituresatthe tim e purchased. The proprietary fire d is accounted forusing the accrualbasis of accounting w hereby revenuesare recognized w hen lhey are earned and expensesare recognized w hen incurred. D. Bnd~_,etsand Budaetarv A ccountin The V illage follow s these procedures in establishing the budgetary data retleeted in the financialstatem ents: The M ayor m eets w ith the Board of A lderm en to review the prior yearrevenueand expendituresasa basisforprojecting thecurrent fiscalyearbudget. The V illage doesnotformally integra te itsbudgetasa m anagem ent tool. A llbudgetary appropriationslapse atthe end of the fiscalyear Budgetsare prepared forthe general,enterprise,and specialrevenue funds on a basis consislent w ith generally accepted accounting principles(gaap). Budgeted amountsare asoriginaly adopted,or as am ended from tim e to tim e by the Board of A lderm en, Such am endm ents w ere not m aterial in relation to the original appropriations. Budgetary controlisexercised atthe fund level. E. C ash and Interest-Bearina D enosits Cash and interest-bearing deposits include cash on hand,dem and deposits, and tim e depositsw hich are stated atcost,w hich approxim atesm arket.

17 V ILLA G E O F PLA U CH EV ILLE,LO U ISIAN A Notesto FinancialStatements(Continued) F. Slatem entof Cash Flow s Forpurposesof the statem entof cash flow s, the Enterprise Fund considers all highly liquid investm entsw ith a m aturity of three m onthsorlesswhen purchased to be cash equivalents. G. D ue lo and D ue from O therfunds lnterfim d receivables and payablesarise from interfund transactionsand are recorded by allfundsaffected in the period in w hich tra nsactionsare execuled. I] The costof norm alm aintenance and repairsthatdo notadd to file value of assets or m aterially extej~d assetlives are notincluded in the generalfixed assets accountgroup orcapitalized in the proprietary fund. W aterutility W aterlinesand expansions W ells,plantand storage tanks R epairsand im provem entsto storage tanks Equipm ent V ehicles 50 years years 10 years 5-8 years 3 years A llfixed assets are stated at historicalcost or estim ated historicalcost if actual historical cost is not available. D onated fixed assets are stated at their estim ated fair value on the date donated. Estim ated am ounts are im m aterial in relation to totalfixed assets,

18 V ILLA G E O F PLA U CH EV ILLE,LO U ISIAN A Notesto FinancialStatements(Continued) Bad D ebts U ncollectible am ounts due for ad valorem taxes and utility accounts receivable are recognized as bad debts atthe tim e inform ation becom es available w hich w ould indicate the uncollectibility of the receivable. N o allow ance for tmcollectible am ountsw asm ade due to im m ateriality atjune 30, om oensated A bsences Em ployees of the V illage are not covered under any specific vacation or sick-leave policy. Itisthe V illage's policy thatunused com pensated absences lapse atthe end of each year. Therefore,no accruals foraccum ulated unused com pensated absenceshave been m ade in these generalpurpose financialstatem ents. K. _(~ol~parative Data Com parative total data for the prior year have been presented in the accom panying financialstatem ents in orderto provide an understanding of changes in the Vilage's financial position and operations. However, comparative (i.e., presenlation of prioryeartotalsby fund type)data have notbeen presented in each of the statem ents since theirinclusion w ould m ake the statem entsunduly com plex and difficultto read. L. TotalColum nson Com bined Statem ents-o verview Total coluum s on the Com bined Statem ents - O verview are captioned M em orandum O nly to indicate ttm t they are presented only to facilitate financial analysis. D ata in these colum ns do not present financial position, results of operations,or changes in financialposition in conform ity w ith generally accepted accounting principles.n eitherissuch data com parable to a consolidation, lnterfund elim inationshave notbeen m ade in the aggregation of thisdata. (2) Cash and Interest-Bearing D eoosits U nderslate law,the V illage m ay depositfundsw ithin a fiscalagentbank organized underthe law s of the State of Louisiana,the law s of any otherstate in the U nion,orthe law s of the U nited Stales. The V illage m ay invest in certificates and tim e deposits of state banks organized under Louisiana law and nationalbankshaving principalofi cesin Louisiana.AtJune 30,2000,the V illage hascash and interest-bearing deposits(book balances)totaling $468,629 asfollows: Cash on hand D em and deposits Tim e deposits M oney m arkets Total 104, , ,494 $468,629 15

19 V ILLAG E O F PLA U CH EV ILLE,LOU IStAN A Notesto FinancialStalem ents(continued) These deposits are stated at cost, w hich approxim ates m arket. Under state law, these deposits,(orthe resulting bank balances)mustbe secured by federaldepositinsurance orthe pledge of securities ow ned by the fiscalagentbank. The m arketvalue of the pledged securities plus the federaldepositinsurance m ustatalltim es equalthe am ounton depositw ith the fiscalagentbank. These securitiesare held in the nam e of the pledging fiscalagentbank in a holding orcustodialbank thatismutually acceptableto both parties. Depositbalances(bank balances)atjune 30,2000,are secured asfollow s: B ank balances $468,617 Federaldepositinsurance Pledged securities(category 3) Totalfederaldepositinsurance and pledged securities $191, ,216 $468,617 Pledged securitiesin Category 3 include uninsured orunregistered investm ents forwhich the securitiesare held by the brokerordealer,orby itstrustdepartm entoragent,butnotin the V illage's name. Even though the pledged securitiesareconsidered uncolateralized (Category 3)Louisiana Revised Statute 39:1229 im posesa statutory requirem enton the custodialbank to advertise and sell the pledged securitiesw ithin 10 daysof being notified by the V illage thatthe fiscalagenthasfailed to pay deposited fundsupon dem and. (3) Udl~ y~'_v_a_nles A ged billed utility receivablesof $19,643 consisted ofthefollowing atjune30,2000 Currentbillings O ver30 days over60 days $18, $19,643 U nbilled utility receivablesare notrecorded in these financialstatem entsdue to im m ateriality atjune 30,2000. (4) D ue fi'om O therg overnm entala ~encies 2000 Due from othergovernm entalagenciesof $30,072 consisted of the following atjune 30 A voyellesparish Police Jury -gam ing Stale of Louisiana $ 10,129 19,943 $ 30,072

20 VILLA G E O F PLA U CH EV ILLE,LOU ISIAN A Notesto FinancialStatem ents(contiuued) (5) Restricted A ssets-pro~3rietarv Fund Tvt~e 2000 Restricted cash and interest-bearing deposits w ere applicable to the follow ing atjune 30 Bond and interestfund W aterw orksreserve W aterw orksdepreciation and contingency Cuslom erm eterdeposits $ 9,112 23,116 50,995 46,271 $129,494 (6) Chan~esin Fixed A ssets A sunnnary of changesin generalfixed assetsfollow s Balance 7/1/99 A dditions D eletions Balance 6/30/00 Land aud im provem ents Buildingsand im provem ents O therim proverrlents Equipm ent $ 11, ,613 67,380 57,918 $ 2, ,987 2,329 $ 11, , ,367 60,247 $243,460 $129,879 $ - $373,339 A sum m ary of proprietary fand type property,plantand equipm entatjune 30,2000,follow s W aterdepartm ent W aterlines,w elland extensions M etersand pum ps Service vehicles O ffice equipm ent Building Land Less:A ccum ulated depreciation N et1jtility Fund property,plantand equipm ent $ 1,999,410 35,256 39,417 17,018 25,819 5,000 2,121,920 (643,926) $ 1,477,994 17

21 V ILLA G E O F PLA U CH EV ILLE,LO U ISIAN A Notesto FinancialStatements(Continued) (7) Chancesin Revenue BondsPavable The follow ing isa sum m ary of revenue bond transactionsof the V illage forthe yearended June 30,2000: Bondspayable atjune 30,1999 $ 544,471 Bondsissued Bondsrclired 11,446 Bondspayable atjune 30,2000 $533,025 F,evenue bondspayable atjune 30,2000,iscom prised of the follow ing individualissue Rcventle bonds $646,000 bonds dated 12/13/90 due in annualinstallm ents of principaland interest totalling $43,217 through D ecem ber13,2023 interestat6.0 percent. $ 533, 025 The annual requirem ents to am orlize all debt outstanding as of June 30,2000, including nterestpaym entsof $494,929 are asfollows: Y earending June 30, Revenue $ 43,217 43,217 43,217 43,217 43, , , , ,614 $1,027,954

22 V ILLA G E O F PLA U CH EVILLE,LO U ISIAN A N otesto FinancialStatements(Continued) (8) Ad Valorem Taxes A d valorem taxes attach as an enforceable lien on property as of January 1 of each year. Taxes arc levied by the V illage in Septem ber or O ctober and are actually billed to taxpayers in N ovem ber.b illed taxesbecom e delinquenton January 1of the follow ing year. The V illage billsand collectsilsow n property taxesusing the assessed valuesdeterm ined by the tax assessorof A voyelles Parish. A d valorem tax revenuesare budgeted in the yearbilled. /:orthe yearended June 30,2000,taxesof 5.59 m illsw ere levied on property w ith assessed valuationstotaling $722,040 and were dedicated asfollow s: G eneralcorporale purposes 5.59 m ills Totaltaxeslevied were $4,080.A lltaxeswere collected atjune 30,2000 (9) Dedication of Proceedsand Flow of Funds-Salesand U se Tax Levy OnM ay 24,1975,thevotersoftheVilage ofplauchevileapproved a onepercent(1% )sales and use tax fora period beginning Septem ber 1,1975.The revenuesderived from said salesand use tax are to be used forthe purpose of constructing,acquiring,im proving and/or m aintaining a new m unicipal building for the V illage of Plaucheville, including the purchasing and acquiring the necessary land,equipm ent,and furnishingsforthe building to be utilized asa public m eeting halland forrecreationalpurposes;and forany law fulcorporate purpose of the V illage of Plaucheville. The tax is;subjectto funding into bonds by the Vilage ofplauchevile forany one ormore oftile foregoing purposes. (lo) D edication of W aterrevenuesand Sinking Fund Reauirem ents The revenuesof the w atersystem are partially pledged to retire the $646,000 w aterrevelm e bonds dated D ecem ber 13, U nder term s of the bond indenture all incom e and revenues (hereinafterreferred to asrevenue)of every nature,earned orderived from operation of the Utility System are pledged and dedicated to tile retirem entof said bonds,and are to be setaside into the follow ing specialfunds: O ut of the revenues there shallbe established a "Revenue Fund" lbr the paym enl of the reasonable and necessary expensesof operating and m aintaining the system. 2 Each m onth,there w illbe setaside into a fund called the "Revenue Bond and InterestSinking Fund" an am ountconstituting 1/l2 of the nextm aturing installm entof principaland interest on the outstanding bonds. Such transfers shall be fully sufficient to assure the prom pt paym entof principaland interestinstallm entsasthey becom e dne,and m ay be used forsuch paym ents.

23 V ILLAGE OF PLAU CItEV ILLE,LOU ISIAN A Notesto FinancialStatements(Continued) There shallalso be setaside into a "Revenue Bond Reserve Fund"an am ountequalto 5% of the m onthly "Sinking Fund"paym entrequired during the currentfiscalyearuntilthere shall have been accum ulated in the Reserve A ccountan am ountequalto $43,217. Such am ounts m ay be used only for the paym ent of m aturing bonds and interest coupons for w hich sufficientfundsare noton depositin the Bond and InterestSinking Fund asto which there w ould otherw ise be default.aijune 30,2000,there was$23,116 in thisfund. Fundsw illalso be setaside into a "D epreciation and Contingencies Fund"an am ountequalto $386 per m onth. M oney in this fund m ay be used to care for depreciation,extensions, additions,im provem ents and replacem ents to the system w hich are necessary to keep the system in operating condition. M oney in this fund m ay also be used to pay principalor intereston the bondsfalling due atany tim e there isnotsufficientm oney forpaym entin the otherbond funds,butif so used,such m oney m ustbe replaced assoon aspossible thereafter out of the earnings derived from the operation of the system after m aking the required paym entsinto respective fundsand accountsrequired above. The excess revenues not required to bring the Reserve Fund or D epreciation and C ontingencies Fund up to their m axim um requirem ents,shallbe transferred to a "Surplus Fund"which shallbe used forthe purpose of calling and/orpaying bondspayable from the incom e and revenues of the operation of the system or for such other law ful corporate purposes as the V illage of Plaucheville m ay determ ine,w hetherornotsuch purposes are or are notrelated to the system. Forthe fiscalyearended June 30,2000,the V illage com plied w ith allthe above bond ndenture requirem ents. (]]) Retirem entcom m itm ents A llem ployeesof the V illage participate in the socialsecurity retirem entsystem. The V illage hasno furtherliability for retirem entcom m itm ents. (12) ContractAgreem ents In D ecem ber 1984,the V illage placed into service a new w atertreatm entfacility m aking i! possible to produce its ow n w aterin a supply sufi cientto service allof its custom ers. Priorto the operation of this new plant,the V illage w as purchasing its w ater from the Tow n of Co tonport, Louisiana. The Village elected to m aintain itscontractw ith the Tow n of Cottonportin orderto m eet em ergency supply needs or cope w ith unforeseen circum stances. The contract agreem ent was renewed onfebruary 1,2000,foratenn ofoneyear.a summary ofthe majorcontractprovisionsare asfollow s: A. Seller(Town of Cotonport)agrees: To furn ish atthe pointof delivery,potable w aterin such quantity asm ay he required by the purchasernotto exceed 75,000 gallonsperday.

24 V ILLA G E O F PLA UCH EV1LLE,LO UISIA NA Notesto FinancialStatements(Continued) B. Purchaser(Villageof Plauchevile)agrees; To pay to seller,no laterthan the 15th day of each m en h,forw aterdelivered in accordance w ith the contractagreem entthe sum of $1.12 perone thousand gallons forallw aterdelivered to the purchaserperm onth. (13) Franchise Agreem ents The V illage of Plaucheville hasentered into franchise agreem entsw ith variouspublic utility com paniesthatprovide services w ithin the corporate lim itsof the V illage. A sum m ary of each such agreem entisasfollow s: 2 CentralLouisianaElectricComlLanv~Inc.~CLECO)-effectiveM ay 4,1987,fora period of fifteen (15)years.Franchisefeeisbased onfoorpercent(4% )ofthe gross receipts from the sale and deliver),of electric energy forresidentialand com m ercial purposes billed on com m ercialand residentialrates w ithin the V illage. Fees are payable quarterly,within thirty (30)daysof the end of the quarter. Otherfranchise provisionsare asfollow s: Franchise paym ents w illbe reduced in an am ountequalto the sum of arty new or increased taxesof any nature w hatsoeverlevied by the m unicipality and payable by CLECO (exceptuniform ad valorem taxes,based on property values). ṭ _ :._ nl _ ex _ - effective June 1992,fora period of twenty-five (25)year's.Franchisefeeis based on fourpercent(4% )ofthegrossreceiptsfrom thesaleof gasforresidential and com m ercialpurposesbilled on residentialand com m ercialratesw ithin the lim its of the V illage. Feesare payable on orbefore the 10th of each February. 2

25 V ILLA G E O F PI.A U CItEV ILLE,LO U ISIAN A N otesto FinancialStatem ents(continued) (14) Com ocnsation of V illaoe O fi cials A detailof com pensation paid to the M ayorand Board of A lderm en forthe yearended June 30,2000,follow s: TerrylSI.R om ain,m ayor A lderm an: G erard Saucier M arie I)ucote Jay I,em oine $ 2,000 1,250 1,250 1,150 (15) Sales;Tax C ollection A ureem ent O n June 15,1994,the V illage of Plaucheville entered into an intergovernm entalagreem ent w ith the Avoy~lles Parish SchoolBoard whereby the SchoolBoard w illcollectthe sales and use taxes,including interest,penalties,fees and cost,levied by the V illage of Plaucheville under the V illage'sordinancesfora m onthly fee of 1.5 percentof the grosstax revenuescollected by the School Board.The SchoolBoard w illrem itcollectionsto the V illage on a m onthly basis no laterthan the 10th day of each m onth after reasonable and necessary cost and expenses of collection in adm inistration of the taxeshave been deducted,including the collection fee. (16) Othc ra ~ greel~lejlt_s O n N ovem ber 10,1992,the V illage of Plaucheville entered into 2 separale leasesforoil,gas and other liquid or gaseous m inerals as lessor w ith M cg inty-d urham, Inc., for the purpose of exploring by any m ethod,prospecting and drilling for and producing oil:,gas or other liquid or gaseousm ineralson properly located atthe V illage's W ard EightPum ping Station site and G oudeau W elsite.each lease isfora three (3)yearperiod and aslong thereafterasoil,gasorotherliquid or gaseousm inera!isproduced in paying quantitiesorany operation isconducted,paym entism ade,or conditions exist~w hich continues the lease in force. O n the date the lease w as entered into,the Village received a $9 paym entforthe lease atthe W ard Eightpum ping station site and a $70 paym ent forthe lease at/he Goudeau W ellsite.each paym entconsisted of one-half rentalforthe firstyearof the lease and one-half bonus forthe lease rights. If drilling operations are notcom m enced on the leased propertieson orbefore one yearfrom the datesof the leases,each lease w illterm inate unless M cg inty-durham,inc.paysthe Village $5 rentalpaym enton the W ard Eightpum ping station site lease and $35 rentalpaym enton the Goudeau W ellsite lease,which willextend for 12 m onthsthe tim e within w hich drilling m ay be com m enced. Thereafter,annually,in like m annerand upon like paym ents,m cg inty-d urham,inc.m ay m aintain alllease rightsw ithoutactualdrilling operationsfor succcssiw ~periodsof tw elve m onthseach. If on any rentalpaying date actualdrilling operationsare being conducted on orproduction in paying quantitiesisbeing obtained from the leased properties,no rentalpaym entsare due and the V illage w illbe paid royaltiesasspecifically calculated in each lease.

26 SUPPLEM EN TA R Y INFO RM A TIO N

27 SCH EDU LES O F IND IVIDUA L FUND S 24

28 G E N FR A L FU N D To accountforresourcestraditionally associated w ith governm entsw hich are notrequired to be accounted forin anotherfund.

29 V ILLA G E O F PLA UCH EV ILLE, LO UISIAN A G eneralfund Com parative Balance Sheet June 30,2000 and A SSETS Cash and interestbearing deposits Receivables: D ue from otherfunds D ue from othergovernm entalagencies O ther $18,536 12,227 30,072 3,676 $51,93 8,956 5,996 Tolalassets $64,511 $66,883 LIA BILITIES AN D FUN D BA LAN CE Liabilities: A ccounlspayable $ 955 $ 2,120 Fund balance: U nreserved,undesignated 63,556 64,763 Totalliabilitiesand fund balance $66,883

30 V ILLAG E O F PI.,AU CH EV ILLE,LO U ISIAN A G eneralfund Statem entof Revenues,Expenditures,and Changesin Fund Ilalances- Budget(GA AP Basis)and Actual Y earended June 30,2000 W ith Com parative A ctuala m ountsfory earended June 30, Budget A ctual V ariance - Favorable (Unfavorable 1999 A ctual Revenues: Taxes Franchise fees Licensesarid perm ils 1ntergovernm eatal Finesand forfeits M iscellaneous Totalrevenues $ 4,036 10,484 14, ,211 2,400 9, ,131 $ 4,080 10,722 17, ,152 2,863 12, ,559 $ ,863 (1,059) 463 2,879 5,428 $ 3,911 10,104 14,726 49,105 1,869 10,580 90,295 Expenditures: C urrent- G eneralgovernm ent Public safely: Police Fire Streetsand drainage Recreation Capitaloullay Totalexpenditures 51,390 22,600 3,000 1,100 3, , ,058 56,149 24,927 3, , , ,298 (4,759) (2,327) (720) 901 (1,294) 1,959 (6,240) 46,607 17,980 2, ,855 5,009 75,553 Excess(defieieney)of revenuesover exp~;nditures (55,927) (56,739) (812) 14, 742 Otherfinancing sources(uses): O perating tl'anstersin O perating transtersout Totalotherfinancing sources(uses) 54,251 54,251 55,532 55,532, (616) (616) Excess(deficiency)ofrevenuesand other sourcesuverexpendituresand utheruses (1,676) Fund balance,beginning 64, 763 Fund balance,ending 3 $6,08 7 (I,207) ,126 64,763 50,637 $ 469 $64,763 27

31 V ILLA G E O F PLA U CH EVILLE,LO U ISIAN A G eneralfund StatementofRevenuesComparedto Budget(GAAP Basis) Y earended June 30,2000 W ith Com parative A ctuala m ountsfory earended June 30, V ariance - Budget A ctual Favorable (Unfavorable) 1999 A ctual Taxes: A d valorem $ 4,036 $ 4,080 $ 44 $ 3,911 Franchise fees: Electric G as Cable TV 5,600 1,384 3,500 5,819 1,384 3, ,340 1,321 3,443 Totalfranchise fees 10,484 10, ,104 Licensesand perm its: O ccupationallicenses/perm its 14,500 17,363 2,863 14,726 lntergovernm ental: U.S.D epaflm cntof Justice - Copsgrant State of Louisiana - Tobacco tax B eertax Street/sidew alk grant Red RiverD elta grant Casino I'eveuue 1,011 1,200 70,000 7,000 40,000 1,011 1,216 66,640 6,798 42, (3,360) (202) 2,487 7,389 1,011 1,211 2,475 37, , ,152 (1,059) 49,105 Finesand forfeits 2,400 2, ,869 M iscellaneoos: Interest Chargesforservices M iscellaueous 1,500 5,500 2,500 1,242 7,335 3,802 (258) 1,835 1,302 3,920 4,530 2,130 Totalm iscellaneous 9,500 12,379 2,879 10,580 Totalrcvcnues $160,131 $165,559 $ 5,428 $90,295 28

32 V ILLAGE OF PLAUCH EVILLE,LOUISIAN A GeneralFund StatementofExpendituresCompared to Budget(GAAP Basis) YearEnded June 30,2000 W ith Com parative ActualAm ountsforyearended June 30,1999 Budget 2000 A ctual V ariance - Favorable (Unfavorable) 1999 A ctual Currenl.- G eneralgoverum eut- Salaries Payrolltaxes Utilitiesand telephone A dvertising and publications D uesand subscriptions Professionalfees Insurance O ffice suppliesand postage M aintenance and supplies Trash pickup Christm asdecorations M iscellaneons Totalgeneralgovern m ent $ 17,350 1,400 9,000 2, ,500 5,000 2,500 5, ,000 3,012 51,390 $ 17,406 2,424 9,672 1, ,985 6,307 1,748 8, ,063 56,149 $ (56) (1,024) (672) (1,307) 752 (2,528) 120 (1,051) (4,759) $ 14,756 2,221 8,271 1, ,030 4, , ,028 6, Public safety - Police : Salaries Supplies G as,oiland repairs Payrolltaxes Insurance M iscellaneous Totallm lice 4, ,000 1,100 2,000 1,000 22,600 4,223 (223) ,531 (1,53l) 1,290 (190) 2,257 (257) 1,468 (468) 24,927 (2,327) 13, , Fire : M iscellaneous Insurance Totalpolice (400) (320) (720) 2,926 2,926 Streetsand drainage - Supplies Insurance Totalstreetsand drainage (continued)

33 V ILLAGE OF PLAU CH I:,V ILLE,LOU ISIAN A GeneralFund StatementofExpendituresCompared to Budget(GAAP Basis)(Continued) Y ear Ended June 30,2000 W ith Comparative ActualAm ountsforyearended June30,1999 Budget 2000 A ctual Variance - Favorable (Unfavorable) 1999 A ctnal Recreation - Cleaning and janitorial Insurance M iscellaneous Totalrecreation 2, ,300 2,630 (430) 1,195 (95) 769 (769) 4,594 (1,294) 1,745 1, Capitaloutlay - G eneralgovei'nm ent Floorin?= Equipm ent Public Safety - Police : Equipm enl Fire : Defibrillator H ighw ays& su'eets : Eqaipm enl D irtforcrepe M yrtles Streetoverlay and sidew alks Recreation : Roof forcom m unity center Totalcapitaloutlay 1,250 1, , ,946 1,250 1, ,313 1, ,668 4, , ,987 1, ,709 1,959 Totalexpendilnres $216,058 $222,298 S (6,240) $75,553

34 SPE C IA L R E V E N U E FU N D SalesTax ]~'ll/l.d - To accounttbrthe receiptand use of proceedsof the V illage's % salesand use tax. The taxesare dedicated to constructing, acquiring, im proving and/or m aintaining a new m m ficipal building; the purchasing and acquiring the necessary land,equipm ent,and furnishingsforthe said building;and forany law fulcorporate purpose of the V illage of Plaucheville. 3

35 V ILLA G E OF PLAU CH EV ILLE,LOU ISIAN A SpecialRevenue Fund Com parative B alance Sheet June 30,2000 and A SSETS Cash and interestbearing deposits Receivables: Taxes A ccrued interest $69,818 1,890 1,163 $ 98,527 2,320 1,179 Totalassets $72,871 $102,026 LIA BILITIES AN D FUN D BA LAN CE Liabilities: A ccountspayable $ 21 $ 22 Fund balance: U nreserved,undesignated 72, ,004 Totalliabililiesand fund balance $72,871 $102,026 32

36 V ILLA G E O F PLA UCH EV ILLE,LO U ISIAN A SpecialRevenue Fund Stalem entof Revenues,Expenditures,and Changesin Fund Balances- Budget(GAAP Basis)and Actual Y earended June 30,2000 W ith Com parative AclualAm ounlsforyearended June 30,1999 Budget 2000 A ctual V ariance - Favorable (Unfavorable) 1999 Revenues: Salestaxes M iscellaneous $22, $23,081 2,297 $ 581 2,047 $ 19, Totalrevenues 22,750 25,378 2,628 9,900 Expenditures: G eneralgovernm ent- Salestax collection fee Excessof revenuesoverexpenditures 22,450 25,097 2,647 19,656 O therfinancing uses: Operating transfersout (54,251) (54,251) (1,863) Excess(deficiency)ofrevenues ovelexpendituresand otheruses (31,801) (29,154) 2,647 17,793 Fund balance:,beginning 102, ,004 84,21 Fund balance,ending $70,203 $72,850 $ 2,647 $102,004

37 E N T E R PR ISE FU N D W ater Fund - To account for tbe provision of w ater services to residents of the V illage. A ll activities necessary to provide such services are accounted for in this fund, including, but not lim ited to, adm inistration, operations,rnainlenance,financing and related debtservice,and billing and collection. 34

38 V ILLA G E O F PLA U CH EV ILLE,LO U ISIAN A Enterprise Fund W ateru tility Fund C om parative Balance Sheet June30,2000 and A SSF,TS C urrentassets: Cash and interest-bearing deposits Receivables- A ccounts A ccrued inlerest Totalcurrentassets $ 250,781 19,643 2, ,24.4 $ 257,034 16,004 10, ,000 R estricted assets: Cash and interest-bearing deposits 129,494 15,718 Property,plantand equipm ent,atcost, netof accum ulated depreciation (2000 $643,926;1999 $593,673) 1,477,994 1,480,250 Totalassets $1,880,732 $1,879,968

39 LIAI31LITIES AND FUND EQUITY Liabilities: Currentliabilities(payable from currentassets)- A ccountspayable D ue to olherfunds Totalcurrentliabilities(payable from currentassets) 9,421 12,227 21,648 $ 8,514 8,514 Currentliabilities(payablefrom restrictedassets)- Revenue bonds A ccrued interest C ustom ers'deposits Totalcurrentliabilities(payable from restricted assets) 11,550 2,804 32,028 46,382 10,844 4,923 29,029 44,796 Long-term liabilities- Revenue bonds 521, ,627 Totalliabililies 589, ,937 Fund equity: Contributed capital 846, ,057 Retained earnings- Reserved forbond retirem ent Reserved fordepreciation and contingency U nreserved Totalretained earnings 17,874 50, , ,992 30,156 43, , ,974 Tolalfund equity 1,291,227 1,293,031 Totalliabililiesand fund equity $1,880,732 $1,879,968 36

40 VILLA G E OF PLA U CH EVILLE,LO UISIAN A Enterprise Fund W aterutility Fund Com parative Statem entof Revenues,Expenses and Changes n Retained Earnings Y earsended June 30,2000 and (I 1999 O perating revenues: C hargesforservices- W aterservices Connection fees M iscellaneous Totaloperating revenues $211,846 8,268 9, ,625 $187,828 6,177 4, ,323 O perating expenses: Salaries Payrolltaxes M aintenance and supplies U tilities O ffice supplies Insurance Professionalfees M iscellaneous Depreciation Totaloperating expenses O perating,incom e 57,937 4,548 48,796 16,947 4,067 6,039 3, , ,399 3,370 42,972 17,030 2,647 7,079 2,792 2,473 58,129 91,891 6,432 Nonoperating revenues(expenses): lntereslincom e Sale of equipm ent Interestexpense N etnonoperating expenses Income (loss)before operating transfers Operating transfersin (out) Netincome (loss) Add: Depreciation on fixed assetsacquired w ith capitalgrantsthatreducescontributed capitalfrom capitalgrants N etincrease in retained earnings Relained earn ings,begirtning Retained earn ings,ending 6,319 1,000 (33,255) 25,411 4,150 (32,198) (25,936) (2,637) (523) (1,281) 3,795 2,479 (1,804) 6,274 26,822 26,822 25, $444,992 33, ,878 $419,974

41 V ILLAG E O F PLA U CH EV ILLE,LOU ISIAN A Enterprise Fund W aterutility Fund Com parative Statem entof Cash Flow s Y earsended June 30,2000 and 1999 Enterprise C ash flow sfrom operating activities O perating incom e $ 25,413 $ 6,432 Adjustmentsto reconcile operating incometo net cash provided by operating activities- D epreciation C hangesin assetsand liabilities: (Increase)decrease in accountsreceivable Increase in due to otherfunds Increase in accountspayable Totaladjustm ents 61,838 (3,639) 12, ,333 58,129 1,810 4,654 64,593 N etcash provided by operating activities 96,746 71,025 C ash flow sflora noncapitalfinancing activities Operating transfersin (out)to otherfunds (1,281) 2,479 Cash flow sfi'om capilaland related financing activities: A cquisition of property,plantand equipm ent Proceedsfrom sale of equipm ent N etincrease in m eterdeposits Principalpaym entson bondspayable Interestpaid on bondspayable N etcash used by capitaland related financing activities (59,582) 1,000 2,999 (11,446) (35,374) (102,403) (68,781) 4,150 2,643 (15,805) (45,419) (123,212) Cash flow sfrom investing activities: Interestrec,~ived on interest-bearing deposits N etincrease in interest-bearing deposits N etcash provided by investing activities 14,46] (9,029) 5,432 19, ,285) 6,413 (continued) 38

42 V ILLA G E O F PLAU CH EV ILLE,LO U ISIAN A Enterprise Fund W aterutility Fund Com parative Statem entof Cash Flows(Continued) Y earsended June 30,2000 and 1999 Enterprise N etdecrease in cash and cash equivalents (1,506) (43,295) Cash and cash equivalents,beginning of period 195, ,362 Cash and cash equivalents,end of period $ 193,561 $195,067 Reconciliation of cash and cash equivalentsperstatem entof cash flow s to tile balance sheet: Cash and cash equivalents,beginning of period - Cash and interest-bearing deposits-unrestricted Cash and interest-bearing deposits-restricted Less: Interest-bearing depositsw ilh a m aturity overthree m onths Totalcash and cash equivalents,heginning of period $ 257, ,718 (177,685) 195,067 $277, ,311 (164,400) 238,362 Cash and cash equivalents,end of period - Cash and interest-bearing deposits-unrestricted Cash and iuterest-bearing deposits -restricted Less: Interest-hearing depositsw ith a m aturity overthree m onths Totalcash and cash equivalents,end of period 250, ,494 (186,714) 193, , ,718 (177,685) 195,067 N etdecrease $ (1,506) $ (43,295) 39

43 C O M PLIA N C E A N D INTERN A L C O N TR O L

44 C euf~ KcldeC CPA Russ{illF Champagne,CPA VictorR Slaven CPA ChrisRair~ey,CPA Conrad O Chapman,CPA P Iroy CourV le,cpa Al~en J Leery, CPA PennyAngelic S~ugg~ns CPA M ary1 Thibodeaux, CPA Kely M D~ t,cpa Ker~eth J Rachat,CPA Lisa O Spain,CPA KO LDER,C HA M PA G N E,SLAV EN & RA IN EY,LLC CERTIFIED PUBLIC ACCOUNTANTS P.O,BOX 531 M arksvile.la Phone (318) Fax(318) REPO RT ON CO M PLIAN CE AN D ON IN TERN A L CON TRO L O VER FIN AN CIAL REPORTIN G BA SED ON AN A UD IT OF FIN AN CIA L STA TEM EN TS PF,RFO RM ED 1N A CCO RDAN CE W ITH G O V ERN M EN T A U DITIN G STAN DA RD S W EB SITE: VVM~VV KCSRCPAS COM MEMBER OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUN]ANTS SOCIETY OF LOUISIANA CER3F~~ED PUBLIC ACCO~N~ANT~ The llonorable TerrylSt.Rom ain,m ayor and M em bersof the Board of A lderm en Plaucheville,Louisiana W e have audited the generalpurpose financialstatem ents of the V illage of Plaueheville,Louisiana,as of and forthe 3'earended June 30,2000,and have issued ourreportthereon dated Septem ber27,2000. W e conducted ourauditin accordance w ith generally accepted auditing standardsand the standardsapplicable to financialauditscontained in GovernmentAuditing~qlandards,issued by the ComptrollerGeneralofthe U nited Slates. Com pliance A s pal of obtaining reasonable assurance about whether the V illage.of Plaueheville, Louisiana's generalpurpose financialstatem entsare free of m aterialm isstatem ents,w e perform ed testsof itscom pliance w ith certain provisions of law s,regulations,contracts and grants,noncom pliance w ith w hich could havc a direct and m aterial efect on the determ ination of financial statem ent am ounts, llow ever,providing an opinion on compliancewiththoseprovisionswasnotanobjectiveof ourauditand,accordingly,wedo not expresssuch an opinion. The resultsof ourtestsdisclosed no instancesof noncom pliance thatare required to be reported uaderg overnm enta uditing Standards hrternalc ontrolo verfinancialr eportinp. In phm ning and perform ing our audit,w e considered the V illage of Plaucheville's internalcoutrol over financialreporting in order to determ ine our auditing procedures for the purpose of expressing our opinion O lthe generalpurpose financialstatem entsand notto provide assurance on the internalcontrolover financialreporting. O urconsideration of the internalcontroloverfinancialreporting w ould notnecessarily disclose allm atters in the internalcontrolover finaucialreporting thatm ighlbe m aterialw eaknesses. A m aterialw eakness is a condition in w hich the design or operation of one or m ore of the internalcontrol com ponents does notreduce to a relatively low levelthe risk thatm isstatem ents in am ounts thatw ould be m aterialin relation to the generalpurpose financialstatem entsbeing audited m ay occurand notbe detected w ithin a tim ely period by em ployeesin the normalcourse of perform ing theirassigned functions. W e noted no m ailers involving the intern alcontrolover financialreporting and its operation thatw e consider to be m aterialw eaknesses. 214RueIlcamegard 1lf,yeue.IA P~on((~ '/) ~a~(337)212866o 113la.ilhidgeSt,l:~l 133Esc~tW addii ~234DavidDrive.S~itetOS 40SW CotonStleel BreauxBrldge t.a M arksville,la M organcily.la Vill~platle,LA Phone(337) Phone(3iS) Phone(SOM) Phone(337) Fax(337) Fax(318)~ Fax(5O4) Fax(337) ~2 W Sixth Avenue Oberlin,LA 7O655 Phone(33? Fax(337) O0 South MainStreet Abbey(lie. LA 705tI Phonen 37)89%7944 Fax(337)