ST. MARTIN ECONOMIC DEVELOPMENT AUTHORITY

Transcription

1 ST. MARTIN ECONOMIC DEVELOPMENT AUTHORITY Compiled Financial Statements

2 C. Burton Kolder, CPA* Russell F. Champagne, CPA* Victor R. Slaven, CPA* Gerald A. Thibodeaux, Jr., CPA* Robert S. Carter, CPA* Arthur R. Mixon, CPA* Brad E. Kolder, CPA, JD* Stephen J. Anderson, CPA* Penny Angelle Scrugglns, CPA Christine C. Doucet, CPA Wanda F. Arcement, CPA, CVA Bryan K. Joubert, CPA Matthew E. Margaglio, CPA Casey L. Ardoln, CPA Alan M. Taylor, 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 Kelly M. Doucet, CPA Mandy B. Self, CPA Paul L. Delcambre, Jr., CPA Jane R. Flebert, CPA Deidre L. Stock, CPA Karen V. Fontenot, CPA Tabby A. LeMay, CPA Seth C. Norris, CPA Shayne M. Breaux, CPA * A Professional Accounting Corporation KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC P.O. Box 250 Breaux Bridge, LA Phone (337) Fax (337) South Beadle Rd. Lafayette, LA Phone (337) Fax (337) East Bridge St. Breaux Bridge, LA Phone (337) Fax (337) David Dr. Ste203 Morgan City, LA Phone (985) Fax (985) East Main Street Ville Platte, LA Phone (337) Fax (337) West Sixth Avenue Oberlin, LA Phone (337) 639^737 Fax (337) OFFICES WEB SITE Retired: Conrad O. Chapman, CPA* East Main Street New Iberia, LA Phone (337) Fax (337) South Main Street Abbeville, LA Phone (337) Fax (337) Main Street Franklin, LA Phone (337) Fax (337) EastWaddil St. MarksvilleLA71351 Phone (318) Fax (318) Metro Drive Alexandria, LA Phone (318) Fax (318) Mr. Fred Mills, Jr. St. Martin Economic Development Authority Management is responsible for the accompanying statement of assets, liabilities, and fund balance of the St. Martin Economic Development Authority (the Authority), a component unit of the St. Martin Parish Government, as of and for the year ended June 30, 2017, and the related statement of revenues, expenses, and changes in fund balance for the year then ended, which collectively comprise the Authority's basic financial statements 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. Management has elected to omit substantially all 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 Authority's financial position and results of operations. Accordingly, the financial statements are not designed for those who are not informed about such matters. The accompanying Schedule of Compensation, Benefits and Other Payments to Agency Head or Chief Executive Officer is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management. The information was subject to our compilation engagement. However, we have not audited or reviewed the supplementary information and, do not express an opinion, a conclusion, nor provide any form of assurance on such information. Kolder, Champagne, Slaven & Company, LLC Certified Public Accountants Breaux Bridge, Louisiana November 24, 2017 Member of; AMERICAN INSTITUTE OF Member of: SOCIETY OF LOUISIANA

3 ST. MARTIN ECONOMIC DEVELOPMENT AUTHORITY Statement of Assets, Liabilities, and Fund Balance June 30, 2017 ASSETS Cash & interest bearing deposits Receivables Accrued interest 1,389,136 9, TOTAL ASSETS $ 1,399,009 LIABILITIES AND FUND BALANCE LIABILITIES Accounts payable Accrued expenses Deferred revenue 701 5,340 32,152 TOTAL LIABILITIES 38,193 FUND BALANCE Unassigned 1,360,816 TOTAL FUND BALANCE 1,360,816 TOTAL LIABILITIES AND FUND BALANCE $ 1,399,009

4 ST. MARTIN ECONOMIC DEVELOPMENT AUTHORITY Statement of Revenues, Expenses, and Changes in Lund Balance REVENUES City of Breaux Bridge $ 14,000 City of St. Martinville 14,000 St. Martin Parish Government 18,152 St. Martin Parish School Board 29,056 St. Martin Parish Sheriff 15,000 Interest income 2,576 Assessment Income 34,740 TOTAL REVENUES 127,524 EXPENSES Accounting 2,975 Allowance - travel 9,000 Assessment expense 12,259 Bank charges 71 Compensation expense (reimbursed to St. Martin Parish Government): Salary 47,112 Retirement 6,016 Group health insurance 13,295 Medicare 631 Dues and subscriptions 1,357 Economic development 3,997 Legal 2,472 Marketing and design 7,917 Office printing and supplies 4,148 Postage 230 Repairs 1,568 Telephone expense 2,122 Utilities 232 TOTAL EXPENSES 115,402 EXCESS OF REVENUES OVER EXPENSES 12,122 FUND BALANCE, BEGINNING OF YEAR 1,348,694 FUND BALANCE, END OF YEAR $ 1,360,816

5 St. Martin Economic Development Authority Schedule of Compensation, Benefits and Other Payments to Agency Head or Chief Executive Officer Elizabeth Guidry (Executive Director) Salary $ 47,112 Benefits - insurance 13,295 Benefits - retirement 6,016 Expense allowance 9,000 Medicare 631 Total $ 76,054