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Transcription

1 I)FrJCIAL FILE CO PY DO NOT S~ D OUT copies ~ t~is copy and PI.ACE BACK In FILE) PARISH O F IBERVILLE,LO UISIANA W ATERW O RKS DISTRICT NO.4 A NNUAL FINA NCIAL REPO RT SEPTEM BER 30,1999 " Jnoer provlsiorls ofstate law,tnl~ report is ~, r.,'ub!ic f.!os~.~n~,.qr!t. A copy offl ~u re!,)b [~ s ~:.,:;"s:~bm it- Led ~o [he a~.'di',;'.;d, c~';~cviewed, entity and otb,erappropriate public officials. ihe reportis availat~te for -.publi.c inspection at the Baton Rou~,e office ofthe Ley,islative Auditor and,w here appropriate,at the )ffice ofthe parish clerk of court 4;'~.~[)a~.e_. ~.:T~..~_- O_O_.

2 PARISH O F IBERVILLE,LO UISIA NA -- W ATERW O RKS DISTRICT NO.4 TABLE O F CO NTENTS SEPTEM BER 30,1999 PA G E NDEPENDENT AUDITO RS'REPO RT REPO RT O N CO M PLIA NCE A ND O N INTERNA L CO NTRO L OVER FINANCIA L REPO RTING BASED O N A N AUDIT O F FINANCIA L STATEM ENTS PERFO RM ED IN ACCO RDANCE W ITH G O VERNM ENT A UDITING STANDARDS 2-3 FINA NCIA L STATEM ENTS Balance Sheet--Assets Balance Sheet--Liabilities and Fund Equity Statem entofincom e and Changes in Retained Earnings Statem entofcash Flows Notes to FinancialStatem ents A DDITIO NA L INFO RM ATIO N Com m ents on O perations ofw aterutility System Schedule ofcom pensation Paid Board M em bers nsurance in Force--Unaudited

3 H F B HU G H F.BAXJ_,EY.CPA.4 ProfessionalAccounting Corporation Board ofw aterw orks Com m issioners ofthe Parish ofibervile,louisiana -W aterw orks DistrictNo.4 H ugh F.Baxley,CPA /PFS/CVA M argareta.pritchard.cpa TerrellD.M artin.cpa NDEPENDENT A UDITO RS'REPO RT W e have audited the accom panying generalpurpose financialstatem ents ofthe Parish ofibervile, Louisiana --W aterworks DistrictNo.4,a com ponentunitofthe Ibervile Parish Council,as ofand forthe yearended Septem ber30,1999,as listed in the table ofcontents.these generalpurpose financialstatem ents are the responsibility of the District's m anagem ent. O urresponsibility is to express an opinion on these generalpurpose financialstatem ents based on ouraudit. W e conducted our audit in accordance w ith genera ly accepted auditing standards and the standards applicable to financialaudits contained in Governm entaudifing Standards,issued by the Com ptro lerg eneralofthe United States.Those standards require thatwe plan and perform the auditto obtain reasonable assurance aboutw hetherthe generalpurpose financialstatem ents are free ofm aterialrnisstatem ent.an auditincludes exam ining,on a testbasis,evidence supporting the am ounts and disclosures in the generalpurpose financialstatem ents.an auditalso includes assessing the accounting principles used and significantestim ates m ade by m anagem ent,as w e l as evaluating the overa lgeneralpurpose financialstatem entpresentation. W e believe thatour auditprovides a reasonable basis forouropinion. In ouropinion,the generalpurpose financialstatem ents referred to above presentfairly,in a l m aterialrespects,the financialposition ofthe Parish ofibervile,louisiana --W aterw orks D istrict No.4,as of Septem ber 30,1999 and the results ofits operations and the cash flow s of its proprietary fund types forthe yearthen ended,in conform ity w ith genera ly accepted accounting principles. O urauditw as conducted forthe purpose offerm ing an opinion on the generalpurpose financial statem ents taken as a w hole.the schedules,and statisticaldata listed in the table ofcontents are presented forpurposes ofadditionalanalysis and are nota required part ofthe generalpurpose financialstatem ents ofthe Parish of Ibervile, Louisiana --W aterw orks District No.4. Such inform ation,exceptforthatportion m arked "unaudited,"on w hich w e express no opinion,has been subjected to the auditing procedures applied in the auditofthe generalpurpose financial statem ents;and,in ouropinion,the inform ation is fairly presented in a lm aterialrespects in relation to the generalpurpose financialstatem ents taken as a w hole. The financialinform ation forthe preceding yearw hich is included forcom parative purposes w as taken from the financialreport forthatyearin w hich w e expressed an unqualified opinion on the rpose financialstatem ents ofthe Parish ofibervile, Louisiana --W aterw orks D istrict P,O.Box 482 /58225 BeEevie~ Drive /P[aquemine.Louisiana, /(225)687'-6630 /F,-L~ (225)

4 H F B HU GH F.BAX~LEY,CPA,4 Professional.4ccounhng Corporation H ugh F.Baxley,CPA/PFS/CVA M argareta.pritehard,cpa TerrellD.M artin.cpa REPO RT O N CO M PLIA NC E A ND O N INTERNA L CO NTRO L O V ER FINA NCIA L REPO RTING BA SED O N A N A UDIT O F FINA NCIA L STATEM ENTS PERFO RM ED IN A CCO RDA NC E W ITH G O VERNM EN T A UDITIN G STA NDA RDS Board ofw aterw orks C om m issioners ofthe Parish ofibervile,louisiana -- W aterw orks DistrictNo.4 W e have audited the financialstatem ents ofthe Parish ofibervile,louisiana -W aterw orks D istrict No.4,a com ponentunitofibervile Parish C ouncilas ofand forthe yearended Septem ber30, 1999,and have issued ourreportthereon dated Decem ber30,1999. W e conducted ouraudits in accordance w ith genera ly accepted aijditing standards and the standards applicable to financial audits contained in G overnm entauditing Standards,issued by the Com ptro lerg eneralofthe U nited States. C om pliance As part of obtaining reasonable assurance aboutw hetherthe Parish of Ibervile,Louisiana - W aterw orks D istrictno.4's financialstatem ents are free ofm aterialm isstatem ent,w e perform ed tests of its com pliance w ith certain provisions of law s, regulations, contracts, and grants, noncom pliance w ith w hich could have a directand m aterialeffecton the determ ination offinancial statem entam ounts. How ever,providing an opinion on com pliance w ith those provisions w as not an objective ofourauditand,accordingly,we do notexpress such an opinion.the results ofour tests disclosed no instances ofnoncom pliance thatare required to be reported underg overnm ent A uditing Standards. nternalc ontrolo verfinancialretoortincl In planning and perform ing ouraudit,w e considered Parish ofibervile,louisiana -W aterw orks D istrictno.4's internalcontroloverfinancialreporting in orderto determ ine ourauditing procedures forthe purpose ofexpressing ouropinion on the financialstatem ents and notto provide assurance on the internalcontroloverfinancialreporting. O urconsideration ofthe internalcontrolover financialreporting w ould notnecessarily disclose a lm atters in the internalcontroloverfinancial reporting thatm ightbe m aterialw eaknesses. A m aterialw eakness is a condition in w hich the design or operation of one or m ore ofthe internalcontrolcom ponents does not reduce to a relatively low levelthe risk thatm isstatem ents in am ounts thatw ould be m aterialin relation to the financialstatem ents being audited m ay occur and not be detected w ithin a tim ely period by em ployees in the norm alcourse ofperform ing theirassigned functions. W e noted no m atters involving the internalcontroloverfinancialreporting and its operation thatw e considerto be m aterialw eaknesses. P.O.Box 482 /58225 BeEeview D rive /P!aquemine. Louisiana /(225) /FAX (225)

5 R EPO RT O N C O M PLIA NC E A N D O N INTERNA L C O NTRO L O V ER FINA N C IA L REPO RTING BA SED O N A N A UDIT O F FINA NCIA L STATEM ENTS PERFO RM ED IN A CCO RDA NCE W ITH G O VERNM EN T A UDITIN G STA NDA RD S This reportis intended forthe inform ation ofthe auditcom m ittee,m anagem ent and the Legislative atterofpublic record and its distribution s notlim ited.

6 FINA NCIA L STATEM ENTS

7 PARISH O F IBERVILLE,LO UISIA NA--W ATERW O RKS DISTRICT NO.4 BA LA NCE SHEET--ASSETS SEPTEM BER 30,1999 W ITH CO M PARATIVE TOTAt.S FO R SEPTEM BER 30, ASSETS CurrentAssets Cash Accounts receivable W ater (less alowance fordoubtfulaccounts of$493) Otherreceivables Prepaid insurance $188,236 $277,824 7,781 6, ,697 2, TotalCurrentAssets 202, Restricted Assets Reserve fund--cash Depreciation and contingency fund--cash Bond fund--cash 30,587 32, ,040 29, Plant Building Furniture and fixtures W aterdistribution system W e ls,tanks and equipm ent Construction in progress Less a lowance fordepreciation TotalRestricted Assets 138,780 TotalPlant 12, ,178 1,320, ,338, TOTAL ASSETS $2,204, , , ,202, ,774,545 $2,195,338 The accom panying notes are an integralpartofthis statem ent.

8 PA RISH O F IBERVILLE,LO UISIANA--W ATERW ORKS DISTRICT NO,4 BALANCE SHEET--LIABILITIES AND FUND EQ UITY SEPTEM BER 30,1999 W ith CO M PARATIVE TOTALS FO R SEPTEM BER 30,1998 LIABILITIES AND FUND EQ UITY CurrentLiabilities Payable from currentassets: Accounts payable Sales tax payable Payable from restricted assets: Accrued interestpayable Currentportion ofrevenue bond TotalCurrentLiabilities Long-Term Liabilities W aterw orks revenue bonds(netofcurrentmaturities) Custom erdeposits TotalLong-Term Liabilities 1999 $6, ,267 10,190 8,198 18,338 25, , , $4, , , ,538 9, ,438 TOTAL LIABILITIES 559, ,151 Fund Equity ContrLbuted capital: Parish State C ustom ers FHA Totalcontributed capital Retained earnings: Reserved fordebtretirem ent Unreserved Totalretained earnings TotalFund Equity TO TAL LIA BILITIES AND FUND EQ UITY 603, ,000 36, , ,392 (32,565) 87,827 1,644,466 $2,204, , ,000 32, ,686 (36,638) 77, $2,195,338 The accom panying notes are an integralpartofthis statem ent.

9 PA RISH O F IBERVILLE,LO UISIA NA--W ATERW O RKS DISTRICT NO.4 STATEM ENT O F REVENUES,EXPENSES A ND CHANG ES IN RETAINED EARNINGS FO R THE YEAR ENDED SEPTEM BER 30,1999 W ITH CO M PARA TIVE TOTALS FO R THE!YEAR ENDED SEPTEM BER 30,1998 O PERATING REVENUES Sale ofwater Connection and service fees O PERA TING EXPENSES M anagem entfee Depreciation Utilities and telephone Insurance Chlorine M isce laneous Repairs and m aintenance Legaland accounting Board ofdirectors Bad debt TOTA L O PERATING EXPENSES NO N-O PERATING INCO M E Ad valorem taxes Finance charges Interestearnings NO N-O PERATING EXPENSES Interestexpense Ad valorem taxes OPERA TING INCOME (LOSS) RETAINED EA RNING S,Beginning RETA INED EARNINGS,Ending NET INCOME (LOSS) 1999 $111, ,541 47,811 15,262 3,714 7,565 4,176 7,818 11,937 2, , , , ,779 77,048 $87, $95, ,566 45,492 15,124 4,274 6,386 1,647 8,076 6,230 2, , ,415 $77,048 The accom panying notes are an integralpartofthis statem ent

10 PA RISH O F IBERVILLE,LO UISIANA--W ATERW ORKS DISTRICT NO.4 STATEM ENT OF CASH FLOW S FO R THE YEA R ENDED SEPTEM BER 30,t999 W ITH CO M PA RA TIVE TOTALS FO R THE YEAR ENDED SEPTEM BER 30,1999 CASH FLOW S FRO M O PERA TING ACTIVITIES Operating income (loss) Adjustmentsto reconcile operatingincome to netcash provided by operating activities: Depreciation Provision forunco lectible accounts n assets and liabilities (Increase)decrease inaccountsreceivable (Increase)decrease in otherreceivables (Increase)decrease in prepaid insurance Increase (decrease)in accounts payable Increase (decrease)in sales tax payable Increase (decrease)in customerdeposits NET CASH PROVIDED (USED)BY OPERATING ACTIVITIES ($24,180) ($19,493) 47, (151) (3,130) (143) 2, ,638 45, (1,120) 3,488 (6) CASH FLOW S FRO M NO N-CA PITAL FINANCING ACTIVITIES Ad valorem taxes--net NET CASH PROVIDED (USED)BY NO N-CAPITA L FINA NCING ACTIVITIES , ,314 CASH FLOW S FRO M CAPITAL A ND RELATED FINANCING ACTIVITIES Acquisition and construction ofcapitalassets Capitalcontributed by custom ers Principalpaid on revenue bond m aturities Interestpaid on revenue bonds Decrease in accrued interestpayable NET CASH PROVIDED (USED)FOR CAPITAL A ND RELATED FINA NCING A CTIVITIES (135,905) 4,500 (9,526) (29,060) (183) (22,012) 2,400 (5,687) (32,973) (109) (170,174) (58,381) CASH FLOW S FRO M INVESTING A CTIVITIES Interestearnings Finance charges NET CASH PROVIDED (USED)BY INVESTING ACTIVITIES CASH AT BEG INNING O F YEAR CASH AT END O F YEAR NET INCREASE (DECREASE)IN CASH 12, (62,517) $327,016 11, ,135 $409,633 The accom panying notes are an integralpartofthis statem ent.

11 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O R KS DISTRICT N O.4 NO TES TO FINA NCIA L STATEM ENTS SEPTEM B ER 30,1999 NO TE A :SIG NIFICA NT A CCO UNTING PO LICIES The W aterw orks DistrictNo.4 ofthe Parish ofibervile,louisiana,w as created by an ordinance ofthe Ibervile Parish Policy Jury on January 15,1985. The governing authority ofthe D istrict consists offive m em bers ofa Board ofc om m issioners appointed to five yearterm s by the Parish Council. Fund structure W aterw orks DistrictNo.4 ofthe Parish ofibervile,louisiana,a com ponentunitofthe Parish,is an enterprise fund.enterprise funds are used to accountforoperations thatare financed and operated in a m annersim ilarto private business enterprises--w here the intentofthe governing body is thatcost(expenses,including depreciation)ofproviding goods orservices to the general public on a continuing basis be financed orrecovered prim arily through usercharges. Basis of accounting The w aterdistrictutilizes the accrualbasis of accounting n e Scooe ofthe ReportinclE Financialinterdependency Selection ofgoverning authority D esignation ofm anagem ent Ability to significantly influence operations Accountability forfiscalm atters Based on the application of NCGA Statem ent 3 criteria,the District is determ ined to be a com ponentunitofthe Ibervile Parish Council,the oversightunit,to form the financialreporting entity. A ccounts receivable A lknow n accounts considered doubtfulofco lection have been rem oved from the carrying value ofaccounts receivable.

12 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O RKS DISTRICT NO.4 NO TES TO FINA NCIA L STATEM ENTS Prooertv.plantand eauiom ent& depreciation Plant is recorded at cost and depreciation is com puted on the straight-line m ethod over the estim ated usefullife ofthe assets of7-50 years. The Parish contributed a com pleted w ater w e land distribution system to the district in the Rosedale area.thissystem isrecorded atcost(which approximates fairmarketvalue)with an ofsetting creditto contributed capital. Use of Estim ates The preparation offinancialstatem ents in conform ity w ith genera ly accepted accounting principles requires m anagem entto m ake estim ates and assum ptions thatafectthe reported am ounts of assets and liabilities and disclosure ofcontingentassets and liabilities atthe date ofthe financial statem ents and the reported am ounts of revenues and expenses during the reporting period. Actualresults could diferfrom those estim ates. NO TE B :CA SH The District's deposits and investm ents are stated atcost. Forreporting purposes,cash includes cash,dem and deposits,and tim e deposits. Understate law,the Districtm ay depositfunds w ith a fiscalagentbank organized underthe law s ofthe State oflouisiana,any otherstate in the Union, orthe law s ofthe United States. Further,the D istrictm ay investin tim e deposits orcertificates of depositofstate banks organized underlouisiana law and nationalbanks having principalofices in Louisiana.In addifion,the D istrictcan investin directdebtsecurities of the United States unless such an investm entis expressly prohibited by law. The fo low ing is a sum m ary ofthe District's deposits and investm ents Deposits The fo low ing is a sum m ary ofcash ofthe Districtand federaldepositinsurance and pledged securities: Bank Balances 9/30/99 FDIC nsurance Balances Uninsured Cash U nco lateralized-- Securities pledged and held by custodial banks in the nam e offiscalagentbanks, atfairm arketvalue,atseptem ber30,1999 Excess offdtc insurance and pledged securities overcash at Septem ber30,1999 $327,016 $173,468 $153,548 $363,847 $210,299 10

13 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O RKS DISTRICT NO.4 N O TES TO FINA NC IA L STA TEM ENTS NOTE B:CASH (continued) Even though the pledged securities are considered unco lateralized underthe provisions ofgasb Statem ent3,louisiana Revised Statute 39:1229 im poses a statutory requirem enton the custodial banks to advertise and selthe pledged securities within ten (10)days ofbeing notified thatthe fiscalagency bank(s)has (have)failed to pay deposited funds upon demand. Forthe purposes ofthe statem ent of cash flows,the District considers a lhighly liquid debt instrum ents purchased w ith a m aturity ofthree m onths orless to be cash. NO TE C :A D VA LO R EM TA XES A d valorem taxes are recorded in the yearthe taxes are assessed.a d valorem taxes are assessed on a calendaryearbasis,becom e due on Novem ber15 ofeach year,and becom e delinquenton Decem ber31.the taxes are genera ly co lected in Decem berofthe currentyearand January and February ofthe ensuing year. N o accrualis m ade on the 1998 assessm entas the due date and the norm alco lection period fa lafterthe Septem ber30 fiscalyearend. NO TE D :PRO PERTY,PLA NT A ND EQ UIPM ENT Beginning Balance Additions Deletions Ending Balance 9/30/99 Building Furniture and fixtures W aterdistribution system W els,tanks and equipment Construction in progress $12, , $ 40,288 19, $12, , , $2,202,637 $100,118 $ Accumulated depreciation $428,092 $47,811 $ $475,903 NO TE E"FLO W O F FU N DS & R ESTR ICTIO NS O N USE Underthe term s ofthe bond indenture on the outstanding W aterutility Revenue Bond dated June 3, 1987, a lincom e and revenues earned from the operations of the system and the net proceeds ofthe property tax w ilbe pledged and dedicated to the retirem entofsaid bond,and are to be set aside into the "W atersystem Revenue Fund".Such revenues sha lbe m aintained and adm inistered in the fo low ing order ofpriority and forthe fo low ing express purpose:

14 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O R KS DISTRICT NO.4 NO TES TO FINA NC IA L STA TEM ENTS NOTE E:FLOW OF FUNDS & RESTRICTIONS ON USE (continued) 1. The paym entofa lreasonable and necessary expenses ofoperating and m aintaining the System. 2. The establishm entand m aintenance ofa "W aterworks Revenue Bond Interest& Sinking Fund (Revenue Note Fund)",by transferring monthly to the regularly designated fiscalagentan am ountequaling to no less than the sum ofone tw elfth ofthe totalam ountofprincipaland interestfa ling due on the bond in the ensuing year.these m onies sha lbe utilized to pay the principaland interestdue on the bond. 3. The establishm entand m aintenance ofa "W aterw orks Reserve Fund"by transferring m onthly to the regularly designated fiscalagentan am ountequaling to no less than the sum of 5% of the am ountdeposited into the sinking fund until$38, has been accum ulated therein. These m onies sha lbe utilized to pay the principaland interestdue on the bond in the event the sinking fund is deficient. The establishm entand m aintenance ofa "W aterw orks Depreciation & Contingency Fund"by transferring to the regularly designated fiscalagentno less than $184 perm onth. These m onies sha lbe utilized to care fordepreciation,extension,additions,im provem ents,and replacem ents necessary to properly operate the system. Subjectto the foregoing,the balance in the "W atersystem Revenue Fund"may be used for the purpose ofacquiring forcance lation the outstanding W ater Revenue Bond orforany otherlawfulpurpose. NO TE F:C HA NG ES IN LO NG -TER M D EBT The fo low ing is a sum m ary ofdebttransactions ofthe Parish ofiberv ile,louisiana W aterw orks DistrictNo.4 forthe yearended Septem ber30,1999: Revenue bonds (Enterprise Fund) Balance,O ctober1,1998 Principalpaym ents Balance,Septem ber30,1999 Currentportion as ofseptem ber30,1999 Long-term portion as ofseptem ber30,1999 Totalliability as ofseptem ber30,1999 $541,188 (9,525) $531,663 $8, $531,663 12

15 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O R KS DISTRICT NO.4 NO TES TO FINA NC IA L STA TEM ENTS NOTE F:CHANGES IN LONG-TERM DEBT (continued) The U.S.Departm entofagriculture,r uraldevelopm ent-ruralutilities Service,is the holderof a single,fu ly registered revenue bond dated June 3,1987.The bond is w ithoutcoupons and bears interestata rate of5~ percentperannum. The bond is payable in levelannualinsta lm ents of $38,768 firstapplied to interest,the balance applied to principalas fo lows: YearFnding Due June 3 Septem ber30 nterest Total $8,198 8,669 9,168 9,695 10,252 $30,570 30,099 29,600 29, $38,768 38,768 38,768 38, Thereafter TOTAL $531,663 $545,938 $1,077,601 The insta lm ents ofprincipalon the bond m ay be prepaid atany tim e. Each paym entsha lbe applied,first,to the paym entofaccrued interestand,second,to the paym entofprincipal NO TE G :C O NTR IB UTED CA PITA L Contributed Capita Parish State Custom ers FHA Beginning balance $603,724 $214,000 Custom erservice lines Ending $603,724 $214,000 $32, $36,915 $702,000 $702,000 NO TE H :DEFIC IT IN UNRESERVED RETA INED EA RNING S At Septem ber 30, 1999, a deficit in unreserv ed retained earnings existed in the am ount of $(34,549).The deficitwas caused by a shortfalofrevenuesin prioryears.although the deficit exists,retained Earnings Reserv ed fordebtretirem entand Contributed Capitalam ounted to $120,464,and $1,556,639, respectively,which results in a TotalFund Equity of$1,642,

16 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O RKS DISTRICT NO.4 NO TES TO FINA NC IA L STA TEM ENTS NO TE I:Y EA R 2000 ISSUES A ladm inistrative functions ofthe Districtare perform ed by the Ibervile Parish Utilities Departm ent forw hich the Districtpays a m anagem entfee.as ofseptem ber30,1999 the Utilities Departm ent has com pleted the validation/testing stage ofm aking changes to theirsystem and equipm ent. Based upon w ork com pleted by Strategic Inform ation System s,inc.,the Utility Departm ent's efort to be Year2000 com pliantis com plete. 14

17 A DDITIO NA L INFO RM ATIO N 15

18 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O RKS DISTRICT NO.4 C O M M ENTS O N O PERA TIO NS O F W A TER UTILITY SYSTEM SEPTEM BER 30,1999 C USTO M ER STATISTICS C ustom erstatistics relative to w aterbiled and num berofcustom ers forthe yearended Septem ber 30,1999 are as folows (residentialand commercialonly;does notinclude watersold to local governments): W aterrevenue Quantityofwatersold (in thousands ofgalons) Average num berofcustom ers biled Average quantity ofw aterused percustom er (in thousands ofgalons) Annualaverage revenue percustom er Average revenue perthousand galons sold $72,090 29, $ $2.46 There were 335 waterutility custom ers atseptem ber30,1999 CUSTO M ER CO ST ANALYSIS Quantity ofwatersold (in thousandsofgalons) Residentialand com m ercial M unicipal Total O perating expenses Average costofoperations per1,000 ga lons sold Septem ber30, , $136,611 $1.93 Netcost(Operating expenses netofnon-operating income and expenses) $103,564 Average netcostofoperations per1,oo0 galons sold $1.47

19 PA RISH O F IBERVILLE,LO UISIA NA --W ATERW O RKS DISTRICT NO.4 C O M M EN TS O N O PERA TIO NS O F W A TER UTILITY SYSTEM SEPTEM BER 30,1999 Revenues are derived from the sale of w ateratthe follow ing rates ResidentialRates First2,000 ga lons orless perm onth Over1,000 galons up to 5,000 ga lons Over5,000 ga lons $12.00 $1.25 perthousand galons $1.00 perthousand galons Com m ercialrates First10,000 ga lons orless perm onth O ver10,000 ga lons $22.OO $1.00 perthousand galons M unicipalrates O ctober1,1998 through M ay 31,1999 June 1,1999 through Septem ber30,1999 $0.65 perthousand ga lons $1.40 perthousand galons 17

20 PA RISH O F IBERVILLE,LO UISIA NA--W ATERW O RKS DISTRICT NO.4 SCHEDULE O F COM PENSATIO N PAID BOARD M EM BERS FO R THE YEAR ENDED SEPTEM BER 30,1999 Board M em ber Am ount A.O.Persick,President Jam es Sm ith Eugene Sim pson M orris Nichols Karen Price Donnie Andre TotalCom pensation Paid to Board M em bers $ $2,720 18

21 t',l t%r 04