LOUISIANA LEGISLATIVE AUDITOR STEVE J. THERIOT, CPA. April 30,2008

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1 LOUISIANA LEGISLATIVE AUDITOR STEVE J. THERIOT, CPA April 3,28 To whom it may concern: This report was submitted by the Department of Agriculture. It may not meet the criteria of Louisiana Revised Statutes 24:513 and 24:514, generally accepted Government Auditing Standards, and/or the Louisiana Governmental Audit Guide. Sincerel SJT:SHE:ss : J. Theriot, CPA Legislative Auditor 27 soil and water conservation district reports Under provisions of state law, this report is a public document. A copy of the report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office of the Legislative Auditor and, where appropriate, at the office of the parish clerk of court. Release Date 16 NORTH THIRD STREET POST OFFICE BOX BATON ROUGE, LOUISIANA PHONE: FAX:

2 AFFIDAVIT OF INCOME AND SWORN FINANCIAL STATEMENTS BY DESOTO SOIL AND WATER CONSERVATION DISTRICT Before me, the undersigned notary public, duly commissioned and qualified in and for this state and parish, personally came and appeared: NAME Jerry Holmes. Chairman of the Desoto Soil and Water Conservation District Who, being duly sworn by me, made the following affirmative statements on behalf of the District for the fiscal year ended June 3, 27. He is duly authorized to make this affidavit on behalf of the District and makes this affidavit based on his knowledge of the affairs of the District. The income of the District in revenues and other sources was over $5, but less than $2,. The financial statements of the District fairly presents, in all material respects, the financial position of the District and the results of operations for the year then ended, in accordance with the basis of accounting described within the accompanying financial statements. The entity has maintained a system of internal control structure sufficient to safeguard assets and comply with laws and regulations and has complied with all laws and regulations. Sworn and subscribed before me, this / day of ><& ~, 27 at Mansfield _, Louisiana in the parish of DeSoto. DESOTO SOIL AND WATER CONSERVATION DISTRICT ^, BY: ' Print name: Freddie Allison Print title: District Secretary

3 STATE OF LOUISIANA BALANCE SHEET AS OF June 3, 27 ASSETS CURRENT ASSETS: Cash and cash equivalents $ Investments Receivables (net of allowance for doubtful accountsknote A) Due from State Government 3 Due from federal government Notes receivable Other current assets Total current assets NONCURRENT ASSETS: Restricted assets (Note B): Cash Receivables Capital assets (net of depreciation)(note C) Land Buildings and improvements Machinery and equipment 7.52 Infrastructure Construction in progress Other noncurrerrt assets Total noncurrent assets 7.52 Total assets $ ifls.893 LIABILITIES CURRENT LIABILITIES: Accounts payable and accruals (Note D) $ Due to State Government Due to federal government. s held in custody for others Current portion of long-term liabilities: Q. Contracts payable Compensated absences payable (Note E) Notes payable Liabilities payable from restricted assets (Note F) Other long-term liabilities Total current liabilities NON-CURRENT LIABILITIES: Compensated absences payable (Note E) Notes payable Liabilities payable from restricted assets (Note E). Bonds payable Other long-term liabilities Total long-term liabilities Total liabilities NET ASSETS Invested in capital assets, net of deprivation 7.52 Restricted for Capital projects. Debt service Unemployment compensation. Other specific purposes Unrestricted Total net assets Total liabilities and net assets $ The accompanying notes are an integral part of this financial statement.

4 Statement A STATE OF LOUISIANA STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS FOR THE YEAR ENDED June 3, 27 OPERATING REVENUES Sales of commodities and services Use of money and property Licenses, permits, and fees Other Total operating revenues OPERATING EXPENSES Cost of sales and services Administrative Depreciation Amortization Total operating expenses Operating income(loss) NON-OPERATING REVENUES(EXPENSES) State appropriations Intergovernmental revenues(expenses) Use of money and property Gain on disposal of fixed assets Loss on disposal of fixed assets Federal grants Interest expense Other revenue Other expense Total non-operating revenues(expenses) Income(loss) before contributions and transfers 2,59 2, ,255 35,839 16,587 (43,336) 6,124 (18,826) 58,55 62,163 Capital contributions Extraordinary item - Loss on impairment of capital assets Transfers in Transfers out Change in net assets Total net assets - beginning Total net assets - ending (93.98) 273, The accompanying notes are an integral part of this financial statement. Statement B

5 STATE OF LOUISIANA STATEMENT OF ACTIVITIES FOR THE YEAR ENDED June 3, 27 See Appendix A for instructions Program Revenues Net (Expense) Operating Capital Revenue and Charges for Grants and Grants and Changes in Expenses Services Contributions Contributions Net Assets Entity $ 84 $ 2,59 $ $ $ 1,255 General revenues: State appropriations Grants and contributions not restricted to specific programs Interest Miscellaneous Special items Extraordinary item - Loss on impairment of capital assets Transfers Total general revenues, special items, and transfers Change in net assets Net assets - beginning as restated Net assets - ending 35,839 3, ,455 (19.149) 249,312 14,163 The accompanying notes are an integral part of this statement. Statement C

6 STATE OF LOUISIANA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED June 3, 27 Cashflows from operating activities Cashreceivedfromcustomers $ 2,59 Cash paymerts to suppliers Ibrgpcctea^ (84) Cashpavmertetoernplc^eeslcrseNoes QainrB paid to outsiders _ Oher operating revenues(e>penses) Net cash promded(used) by operating activities 1,255 Cash fta^franiuh^jtalftaiuii j activities State appropriations 35,839 Operating g/arts received 16,587 Oher 2,745 Net cash prcwded(used) by noncapital financing 55,171 Cash flows from capital financing activities Roceeds from sale of bonds AxMsrticnfoonstruction of capital assets Roceecte from sale of capital assets Capital cortribulions Oher o_ Netcashpro^deo^used)bynslatedfinandng activities - Cash flows from masting activities Interest and dividends earned on investment securities 3,379 Net cash promded(used) by investing activities 3,379 fsletincrease(ctecrease) in cash and cash equivalents 16,974 Cash and cash equvaterts at begjming of veer CashandcashequivalenlsatendcifyBar $

7 STATE OF LOUISIANA STATEMENT OF CASH FLOWS FOR THE YEAR ENDED June 3, 27 Reconciliation of operating income(loss) to net cash provided(used) by operating activities: Operating income(loss) Adjustments to reconcile operating income(loss) to net cash Depreciation/amortization Provision for uncollectible accounts Other Changes in assets and liabilities: (Increase)decrease in accounts receivable, net (Increase)decrease in prepayments (Increase)decrease in other assets Increase(decrease) in accounts payable and accruals Increase(decrease) in compensated absences payable Increase(decrease) in other liabilities $ 1,255 Net cash provided(used) by operating activities Schedule of noncash investing, capital, and financing activities: Borrowing under capital lease Contributions of fixed assets Purchases of equipment on account Asset trade-ins Other (specify) Total noncash investing, capital, and financing activities: The accompanying notes are an integral part of this statement. Statement D (concluded)

8 NOTE A- RECEIVABLES AND DUE FROM Receivables Total Less: Allow for doubtful Accts Net Due From State Government Federal Government Other (List) Total 3. NOTE B- NON CURRENT ASSETS- RESTRICTED Cash (list source) Receivables (list payee) NOTE C- CAPITAL ASSETS tern Cost Land Bldgs & Improvements Machinery & Equip 18,895.3 Other (list) Less: Depreciated 11, Net 7,51.93

9 NOTE D- ACCOUNTS PAYABLE AND DUE TO Accounts Payable Payee Due To State Government 3,695.8 Federal Government Other (list) NOTE E- COMPENSATED ABSENCES 'Annual Leave Short- Term Long- Term Total 1, , *This represents the amount of annual leave that would be payable to employee(s) of the District if employment were terminated. If the annual leave is payable during the current year it would be a current year, short- term, payable if not it would be long-term. NOTE F- LIABILITIES PAYABLE FROM RESTRICTED ASSETS Item Short- Term Long- Term