James Chapel Church of God in Christ More in the Middle. Financial Statements. December 31,2004

Transcription

1 Financial Statements December 31,2004 Under provisions of state law, this report is a public document, Acopy 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 Ey/7/C>5" WlLLIAM E.

2 William E. DeLoach Office Superior Drive Suite B Fax Baton Rouge, Louisiana bill@williamdcloachcpa.com To the Board of Directors James Chapel Church of God in Christ Amite, Louisiana I have compiled the accompanying balance sheet of James Chapel Church of God in Christ-More in the Middle (a non-profit organization) as of December 31, 2004, and the related statement of activities for the year then ended, in accordance with standards established by the Statements for Accounting and Review Services issued by the American Institute of s. A compilation is limited to presenting in the form of financial statements information that is the representation of management. I have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. The organization is tax-exempt and is not subject to federal or state income taxes. Therefore, no provision or liability for federal and state income taxes has been included in these financial statements. Management has elected to omit the statement of cash flows and substantially all of the disclosures required by generally accepted accounting principles. If the omitted statement and disclosures were included in the financial statements, they might influence the user's conclusions about the organization's financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed abcjjat such matters. August 9, Member American Institute of s Society of Louisiana s

3 Balance Sheet December 31, 2004 ASSETS Current Assets Cash-Checking Due from Contractor Total Current Assets Non-Current Assets Total Non-Current Assets Total Assets LIABILITIES & NET ASSETS Current Liabilities Due to Director Accounts Payable Total Current Liabilities Non-Current Liabilities Total Non-Current Liabilities Total Liabilities Net Assets-Unrestricted Net Assets-January 1 Change in Net Assets Total Net Assets-December 31 Total Liabilities and Net Assets 6, , , , , , , , See accountant's compilation report.

4 Statement of Activities For the Year Ended December 31, 2004 Revenues After School Program 100, Flames of Fire Program 77, Total Revenues 177, Expenses Supervisors 5, Case Managers 7, Coordinater-Humbles 5, Accounting 1, Banking Services 1, Data Specialist 15, Van Lease 17, Van Expenses 7, Van Drivers 2, Certified Teachers 11, Special Ed Specialist 2, Tutors 5, Supplies 2, Snacks 2, Cook 1, Food 5, Supplies-Nursing Home Supplies-Clean Up 1, Liability Insurance License Workers Compensation 1, Postage Program Director 4, Program Director-Humbles 34, Training 2, Supplies-PE Telephone 1, ED-Sharon Butler 1, Unknown/unreconciled 7, Total Expenses 155, Change in Net Assets-Unrestricted 21, See accountant's compilation report.

5 FROM : MRNNR FflMlLY RESOURCE CENTER PHONE NO. : ftug :34PM P2 Manna Family Resource Center IN THE BEGINNING AFTER SCHOOL AND SUMMER ENRICHMENT PROGRAM 102WB POPLAS STREET 11 90S Kingston Drive 8ston *»* " 7 *> Mr. William "Bill" DcLoach Certified Public "Accountant 5516 Superior Drive Suite B Baton Rouge, Louisiana 70S RE: Delay of Information Dear Mr. DcLoach: As vre discussed in our conversation regarding information, in 1989, the James Chapel Board of Director's implemented a set of financial policies. One of the policy involves who handles the agency banking information. In this policy the person who request a check, the program director; the person who lets the program director know if this is an allowable cost, the agency accountant; the board member who approves the check; and the two board members who sign the checks; is not the same person who receives and opens the bank statement and forwards it to the agency's accountant for reconciliation of the bank statement. In 2004, the board member, Ms. Jackson, who forwards the statement U> (he accountant for reconciliation became ill. Therefore, the statements did not get to die accountant on a timely basis. This process caused a delay in you getting the books that you needed to complete: our 2003 attestation. This was brought to the attention of the President of thv Board of Directors. The President worked with Ms. Jackson, who got the book to me and I forwarded them to you. Ms, Jackson's health improved and she began forwarding the information to the accountant. However, Ms. Jackson become ill again and died. The acccnintant still had not received all of the bank statements for reconciliation. Therefore, she had to work with the Board President, program director, and *he bank to reconstruct the books. The Board has reviewed this process ami it is requiring that the bank statement must be reconciled not less than on a quarterly basis. Therefore, the Board must get the information to the accountant on a timely basis for this to occur. Sincerely, Dr.-B, Quillen Humbles Coordinator