RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Stephensville, Louisiana

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1 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Financial Report Year Ended December

2 TABLE OF CONTENTS Page ACCOUNTANTS' COMPILATION REPORT BASIC FINANCIAL STATEMENTS Government-wide Financial Statements Statement of net position 4 Statement of activities 5 Fund Financial Statements Governmental funds: Balance sheet 8-9 Statement of revenues, expenditures, and changes in fund balances SUPPLEMENTARY INFORMATION Compensation paid to agency head 13 REQUIREMENTS OF TBE LOUISIANA GOVERNMENTAL AUDIT GUIDE Schedule of findings 15 Summary schedule of prior findings 16

3 C Burton Kolder, CPA" Russell F Champagne, CPA" VictorP Slaven.CPA" Gerald A Thibodeaux, Jr, CPA" Robert S Carter, CPA" ArthurP Mixon,CPA" Brad E Kolder, CPA, JD" Stephen J Anderson, CPA" Penny Angelle Soruggins, CPA Christine C Douoet, CPA Wanda F Aroement, CPA, CVA Bryan K Joubert, CPA Matthew E Margaglio, CPA Casey L Ardoin, CPA Albert R Leger, CPA,PFS,CSA" Marshall W Guidry, CPA Stephen R Moore, Jr, CPA,PFS,CFP,ChFC* James R Roy, CPA Robert J Metz, CPA Alan M Taylor, CPA Kelly M Douoet, CPA MandyB Self, CPA Paul L Deloambre, Jr, CPA Jane R Hebert, CPA Deidre L Stook, CPA Karen V Fontenot, CPA TabbyA LeMay, CPA "A Professional Accounting Corporation KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC To the Board of Commissioners Recreation District No. 1 of the Parish of St. Martin CERTIFIED PUBLIC ACCOUNTANTS 183 South Beadle Rd Lafayette, LA Phone (337) Fax (337) East Bridge St Breaux Bridge, LA Phone (337) Fax (337) David Dr Ste 203 Morgan City, LA Phone (985) Fax (985) East Mam Street Ville Platte, LA Phone (337) Fax (337) West Sixth Avenue Oberlin,LA Phone (337) Fax (337) 639^568 OFFICES WEB SITE WiAAA/KCSRCPAS COM Retired Conrad 0 Chapman, CPA* East Mam Street New Iberia, LA Phone (337) Fax (337) South Mam Street Abbeville, LA70510 Phone (337) Fax (337) Mam Street Franklin, LA Phone (337) Fax (337) EastWaddil St Marksville LA71351 Phone (318) Fax (318) Metro Drive Alexandria, LA Phone (318)442^421 Fax (318) Management is responsible for the accompanying financial statements of the governmental activities and the major funds of Recreation District No. 1 of the Parish of St. Martin (hereinafter "District"), a component unit of the Parish of St. Martin, as of and for the year ended December 31, 2015, which collectively comprise the District's basic financial statements as listed in the table of contents, in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements. The District has omitted management's discussion and analysis and budgetary comparison information that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting and for placing the basic financial statements in an appropriate operational, economic, or historical context. The District has elected to omit substantially all of the disclosures required by accounting principles generally accepted in the United States of America. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the District's financial position and results of operations. Accordingly, these financial statements are not designed for those who are not informed about such matters. Supplementary Information The supplementary information on page 13 is presented for purposes of additional analysis and is not a required part of the basic financial statements. This information is the representation of management. This information was subject to our compilation engagement, however, we have not audited or reviewed the supplementary information and, accordingly, do not express an opinion, a conclusion, nor provide any form of assurance on such supplementary information. We are not independent with respect to the Recreation District No. 1 of the Parish of St. Martin. Kolder, Champagne, Slaven & Company, LLC Certified Public Accountants Morgan City, Louisiana June Member of: AMERICAN INSTITUTE GF CERTIFIED PUBLIC ACCOUNTANTS Member of: SOCIETY OF LOUISIANA CERTIFIED PUBLIC ACCOUNTANTS

4 BASIC FINANCIAL STATEMENTS

5 GOVERNMENT-WIDE FINANCIAL STATEMENTS

6 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Statement of Net Position December Governmental Activities ASSETS Cash and interest-bearing deposits Ad valorem taxes receivable Due from other governmental units Deposits Capital assets: Not being depreciated Net of accumulated depreciation Total assets $ 276,002 97, , ,000 1,753, LIABILITIES Accounts, salaries, and other payables Long term liabilities: Due within one year Due in more than one year Total liabilities 4,342 30, , NET POSITION Net investment in capital assets Restricted for debt service Unrestricted 1,729, , Total net position $ 2,199,641 See accountants' compilation report

7 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Statement of Activities Year Ended December Functions/Programs Expenses: Culture and recreation Interest and fiscal charges on debt Total expenses General revenues: Taxes: Property taxes, levied for maintenance and debt service Appropriations from St. Martin Parish Government Interest and investment earnings Miscellaneous Total general revenues Change in net position Net position - January 1, 2015 Net position - December 31, 2015 Governmenal Activities 83,352 13, ,144 3, ,464 2,195,177 $ 2,199,641 See accountants' compilation report

8 FUND FINANCIAL STATEMENTS

9 MAJOR FUND DESCRIPTION General Fund The General Fund is used to account for resources traditionally associated with governments which are not required to be accounted for in another fund. Debt Service Fund The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, general obligation bond principal, interest, and related costs. Capital Projects Fund The Capital Projects Fund is used to account for the financial resources used for the construction of park improvements within the district.

10 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Balance Sheet Governmental Funds December ASSETS General Debt Service Capital Projects Total Governmental Funds Assets: Cash and interest-bearing deposits Ad valorem tax receivable Due from other governmental units Deposits $ 62,732 53,938 77, $ 213,270 43,147 1 $ 23,642 $ 276,002 97, , Total assets $ 194,453 $ 256,418 $ 23,642 $ 474,513 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCE Deferred inflows of resources: Deferred ad valorem tax revenues $ 3,169 $ 2,531 $ $ 5,700 Unavailable grant revenues Total deferred inflows of resources 3,169 2,531 7,756 7,756 7,756 13,456 Fund balance: Restricted 253, ,887 Unassigned Total fund balances 191, , ,887 15,886 15, , ,057 Total liabilities, deferred inflows of resources and fund balances $ 194,453 $ 256,418 $ 23,642 $ 474,513 (continued)

11 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Balance Sheet (continued) Governmental Funds December Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position: Total fund balances for governmental funds at December 31, 2015 $ 461,057 Total net position reported for governmental activities in the statement of net position is different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. Those assets consist of Land $ 256,000 Buildings and improvements, net of $209,292 accumulated depreciation 1,753,470 2,009,470 Deferred inflows of resources are not considered current financial resources and are reported as a liability in the funds 13,456 Long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported as liabilities in the funds: Bonds payable (280,000) Accrued interest payable (4,342) (284,342) Net position atdecember 31, 2015 $2,199,641 See accountants' compilation report

12 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds Year Ended December Debt Capital Total Governmental General Service Projects Funds Revenues: Ad valorem taxes $ 52,004 42,592-94,596 Intergovernmental 3, ,000 Interest income Odier 2, ,250 Total revenues 57,335 42, ,057 Expenditures: Current - Culture and recreation Advertising Office supplies 3, ,663 Professional services 5, ,015 Repairs and maintenance 1, ,446 Utilities and telephone 6, ,349 Capital outlay 44, ,767 Debt service - Interest and fees - 14,156-14,156 Principal - 25,000-25,000 Total expenditures 61,504 39, ,660 Net change in fund balances (4,169) 3,566 - (603) Fund balances, beginning 195, ,321 15, ,660 Fund balances, ending $ 191,284 $ 253,887 $15,886 $ 461,057 (continued) 10

13 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Statement of Revenues, Expenditures, and Changes in Fund Balances (continued) Governmental Funds Year Ended December 31, 2015 Reconciliation of the statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities: Total net changes in fund balance for the year ended December 31, 2015 per Revenues, Expenditures and Changes in Fund Balances $ (603) The change in net position reported for governmental activities in the statement of activities is different because: Some revenues reported in the governmental fund were reported as revenues in the statement of activities in a prior year 1,548 The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. Principal payment 25,000 Change in accrued interest ,367 Governmental funds report capital outlays as expenditures. However, in the of activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. Capital outlay which is considered expenditures on Statement of Revenues, Expenditures and Changes in Fund Balances 44,767 Depreciation expense for the year ended December 31, 2015 (66,615) (21,848) Total changes in net position for the year ended December 31, 2015 per Statement of Activities S 4,464 See accountants' compilation report. 11

14 SUPPLEMENTARY INFORMATION 12

15 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Compensation Paid to Agency Head Year Ended December 31, 2015 Act 706 of the 2014 Legislative Session amended R.S. 24:513A requiring additional disclosure of total compensation, benefits, reimbursements, or other payments made to agency head or chief officer. Expenses paid to Chairperson, Charlotte Ratcliff, for the year ended December 31, 2015 are as follows: Reimbursements-Telephone $ 2,975 Reimbursements-Office supplies and postage 688 3,663 See accountants' compilation report. 13

16 REQUIREMENTS OF THE LOUISIANA GOVERNMENTAL A EDIT GUIDE 14

17 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Schedule of Findings Year Ended December 31, 2015 There were no findings Governmental Audit Guide. required to be reported in accordance with the Louisiana 15

18 RECREATION DISTRICT NO. 1 OF THE PARISH OF ST. MARTIN Summary Schedule of Prior Findings Year Ended December 31, 2015 There were no findings required to be reported in accordance with the Louisiana Governmental Audit Guide for the prior year ended December 31,