IOTA LONG POINT GRAVITY DRAINAGE DISTRICT FINANCIAL STATEMENTS DECEMBER 31,2006

Transcription

1 IOTA LONG POINT GRAVITY DRAINAGE DISTRICT FINANCIAL STATEMENTS DECEMBER 31, nder 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 I 5/tl*7

2 Affidavit and Revenue Certification IOTA LONG-POINT GRAVITY DRAINAGE DISTRICT Acadia Parish Crowley, Louisiana ANNUAL SWORN FINANCIAL STATEMENTS AND CERTIFICATION OF REVENUES $50,000 OR LESS The annual sworn financial statements are required by Louisiana Revised Statute 24:514 to be filed with the Legislative Auditor within 90 days after the close of the fiscal year. If applicable, the certification of revenues $50,000 or less is required by Louisiana Revised Statute Personally came and appeared before the undersigned authority, Timothy Miller, who, duly sworn, deposes and says that the financial statements herewith given present fairly the financial position of lota Long-Point Gravity Drainage District of Acadia Parish as of December 31, 2006 and the results of operations for the year then ended, in accordance with the basis of accounting described within the accompanying financial statements. In addition, Timothy Miller, who, duly sworn, deposes and says that lota Long-Point Gravity Drainage District of Acadia Parish received $50,000 or less in revenues and other sources for the year ended December 31, 2006 and accordingly, is not required to have an audit for the previously mentioned year. ^4 ^nature.\ Sworn to and subscribed before me this 2rb ^day of IvL^e-V 20_T_. Elizabeth J. Moreau Notary Public Notary Number St. Landry Parish, Louisiana My Commission expires at death. Officer Name Title Address Telephone No. Fax No.

3 TABLE OF CONTENTS ACCOUNTANT'S COMPILATION REPORT 1 FINANCIAL STATEMENTS Governmental Fund: Balance sheet 3 Statement of revenues, expenditures and changes in fund balance 4 SUPPLEMENTAL INFORMATION Schedule of per diem paid to board members 6

4 BRQUSSARD, POCHE, LEWIS & BREAUX, L.L.P. C E R T I F I E D P U B L I C A C C O U N T A N T S 532 SE Court Circle Crowley, Louisiana phone: (337) Other Offices: Lafayette, LA (337) Opelousas, LA (337) Abbeville, LA (337) New Iberia, LA (337) Church Point, LA (337) Herbert Lemoine II, CPA* Frank A. Stagno, CPA* Scott J. Broussard, CPA* L. Charles Abshire, CPA* P. John Blanchet, III, CPA* Craig C. Babineaux, CPA* Peter C. Borrello, CPA* George J. Trappey, III, CPA* Martha B. Wyatt, CPA* Fayetta T. Dupr, CPA* Mary A. Castille, CPA* Joey L. Breaux, CPA* Terrel P. Dressel, CPA* Craig J. Viator, CPA* Stacey E. Singleton, CPA* John L. Istre, CPA* Retired; Sidney L. Broussard, CPA Leon K. Poche, CPA 1984 James H. Breaux, CPA 1987 Erma R. Walton, CPA 1988 George A. Lewis, CPA* 1992 Geraldine J. Wimberley, CPA* 1995 Lawrence A. Cramer, CPA* 1999 Ralph Friend, CPA* 2002 Donald W. Kelley, CPA* 2005 Board of Commissioners Iota Long Point Gravity Drainage District ACCOUNTANT'S COMPILATION REPORT We have compiled the accompanying financial statements of Iota Long Point Gravity Drainage District, as of and for the year ended December 31, 2006, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. We have not audited or reviewed the accompanying financial statements and supplemental information; accordingly, we do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the District's financial position, and changes in fund balance. Accordingly, these financial statements are not designed for those who are not informed about such matters. Iota Long Point Gravity Drainage District did not adopt the provisions of Governmental Accounting Standards Board Statement No. 34 for the year ended December 31, The effects of this departure from generally accepted accounting principles has not been determined. We are not independent with respect to Iota-Long Point Gravity Drainage District of Acadia Parish. Crowley, Louisiana March 23, 2007 Members of American Insritmc of Certified Public Acccn/ntanf^ Society of Louisiana Certified Public,4tc a nil tan ta * A Professional Accounting Corporation -1-

5 FINANCIAL STATEMENTS -2-

6 IOTA LONG POINT GRAVITY DRAINAGE DISTRICT BALANCE SHEET GOVERNMENTAL FUND December 31,2006 ASSETS Cash and cash equivalents $ 23,697 Receivables 34,258 Total assets $ 57,955 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable $ 1,102 Accrued payroll liabilities 321 Total liabilities $ 1,423 Fund balance; Unreserved - undesignated $ 56,532 Total liabilities and fund balance $ 57,955-3-

7 IOTA LONG POINT GRAVITY DRAINAGE DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE GOVERNMENTAL FUND Year Ended December 31, 2006 Revenues: Ad valorem taxes $ 31,866 Intergovermental: State revenue sharing 7,503 Interest earnings 385 Grant income 161 Total revenues $ 39,915 Expenditures: Current: Public works: Drainage contract work $ 21,338 Compensation paid to board members 7,000 Payroll taxes 536 Insurance 125 Pension deduction 1,102 Miscellaneous 65 Uncollectible taxes 53 Legal and professional fees 1,656 Total expenditures $ 31,875 Defeciency of revenues over expenditures $ 8,040 Fund balance, beginning 48,492 Fund balance, ending $ 56,532-4-

8 SUPPLEMENTAL INFORMATION -5-

9 IOTA LONG-POINT GRAVITY DRAINAGE DISTRICT SCHEDULE OF PER DIEM PAID TO BOARD MEMBERS For the Year Ended December 31, 2006 Name Francis Frey $ 1,300 Barry Lacasse 1,600 TroyLantz 1,400 Larry Lejeune 1,300 Tim Miller. 1,400 7,000 This schedule of compensation paid to board members is presented in compliance with House Concurrent Resolution No. 54 of No. 54 of the 1979 Session of the Louisiana Legislature. -6-