WEBSTER FIRE PROTECTION DISTRICT #4 ANNUAL FINANCIAL STATEMENTS DECEMBER 31,2004

Transcription

1 osji::;30 AH 11:32 WEBSTER FIRE PROTECTION DISTRICT #4 ANNUAL 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 I" \ 3 ~

2 WEBSTER PARISH FIRE PROTECTION DISTRICT #4 WEBSTER PARISH POLICE JURY Dubberly, Louisiana Component Unit Financial Statements As of and for the year ended December 31, 2004 TABLE OF CONTENTS Pag&Nnmber Affidavit I Accountants 1 Compilation Report 2 Component Unit Financial Statements: Balance Sheet - All Fund Types and Account Groups Governmental funds: Statements of Revenues, Expenditures, and Changes in Fund Balance Statement of Revenue, Expenditures, and Changes in Fund Balance - Budget (CASH Basis) and Actual Supplemental Information Schedules: Schedule of Compensation Paid Board Members Schedule of Current Year Findings Summary Schedule of Prior Year Findings

3 Office of the Legislative Auditor 1600 Riverside North P.O. Box Baton Rouge, LA ANNUAL FINANCIAL STATMENTS June In accordance with Louisiana Revised Statute 24:513, enclosed are the annual financial statements for Webster Parish Fire Protection District #4 of Webster Parish, Louisiana as of and for the year ended December 31, The report includes all funds under the control and oversight of the district. The accompanying financial statements have been prepared in accordance with generally accepted accounting principles except for GASB Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments. Sincerely, Enclosure deson, Wise & Martin Carlos Martin, CPA

4 MICHAEL W. WISE. C.P.A. CARLOS E. MARTIN, C.P.A. DAVID W. TINSLEY,C.P.A. KRISTINE H. COLE, C.P.A. JENNIFER C. SMITH, C.P.A. JAMIESON, WISE & MARTIN A PROFESSIONAL ACCOUNTING CORPORATION 601 MAIN STREET P.O. BOX 897 MINDEN, LOUISIANA (318) FAX (318) S' COMFIT.ATTON REPORT WM. PEARCE JAMIESON, C.P.A.(1991) MEMBERS AMERICAN INSTITUTE OF CERTIFIED PUBLJC ACCOUNTANTS SOCIETY OF LOUISIANA CERTIFIED PUBLIC ACCOUNTANTS The Board of Commissioners Webster Parish Fire Protection District #4 Dubberly, Louisiana We have compiled the component unit financial statements of the Webster Parish Fire Protection District #4 as of December 31, 2004 and for the year then ended, 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, accordingly, do not express an opinion or any other form of assurance on them. Management has elected not to implement the new financial reporting requirements of GASB Statement No. 34, Basic Financial Statements and.^management's TVifir.iissinn and Analysis fnr State and T.nr,a1 nnvermnents The effects of this departure from generally accepted accounting principles have not been determined. The Schedule of Compensation Paid Board Members on page 8 is presented for purposes of additional analysis and is not a required part of the component unit financial statements. We have not audited or reviewed that schedule and, accordingly, do not express an opinion or any other form of assurance on it.

5 Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the component unit financial statements, they might influence the user's conclusions about the District's component unit financial statements. Accordingly, these financial statements are not designed for those who are not informed about such matters. Minden, Louisiana June 27, 2005

6 COMPONENT UNIT FINANCIAL STATEMENTS

7 WEBSTER PARISH FIRE PROTECTION DISTRICT #4 WEBSTER PARISH POLICE JURY Dubberly, Louisiana Balance Sheet - All Fund Types and Account Groups December 31,2004 ASSETS Cash and cash equivalents Receivables Buildings Trucks Equipment Furniture Amount to Be Provided Governmental Fund Type General Fund 44,139 47,409 General Fixed Assets 80, ,462 61, Account Group General Long-Term Debt 22,836 Totals (Memorandum Only) 44,139 47,409 80, ,462 61, ,836 Total assets $ ,183 22, ,567 LIABILITIES AND FUND EQUITY Liabilities: Deferred Revenue Accounts payable Notes Payable Total liabilities 744 2,934 3,678 22,836 22, ,934 22,836 26,514 Fund equity: Investment in General Fixed Assets Fund Balance - unreserved Total fund equity 87,870 87, , , ,183 87, ,053 Total liabilities and fund equity $ 91, ,183 22, ,567 See accountant's report.

8 WEBSTER PARISH FIRE PROTECTION DISTRICT #4 WEBSTER PARISH POLICE JURY Dubberly, Louisiana Statements of Revenue, Expenditures and Changes in Fund Balances All Governmental Fund Types For the year ended December 31, 2004 REVENUES Ad valorem taxes 2% fire rebate Other income Interest income Total revenues ,018 3, ,428 EXPENDITURES Current - public safety: Legal and professional Office supplies and postage Repairs and maintenance Utilities Insurance Truck expense Miscellaneous Capital Outlay Tax Assessor Fees Fire fighting equipment and supplies Fire fighter incentive pay Total expenditures (Deficiency) of revenues over expenditures 1, ,131 4,523 4,996 8, ,315 1,743 7,262 2,345 40,573 15,855 Other Financing Sources (uses): Loan payments (24,095) Excess (Deficiency) of Revenues and Other sources over Expenditures and other uses Fund balances at beginning of year (8,240) 96,110 Fund balances at end of year $ 87,870 See accountant's report.

9 WEBSTER PARISH FIRE PROTECTION DISTRICT #4 WEBSTER PARISH POLICE JURY Dubberly, Louisiana Statement of Revenues, Expenditures and Changes in Fund Balance - Budget (CASH Basis) and Actual For the Year Ended December 31, 2004 Revenues: Ad valorem taxes 2% fire rebate Interest income Miscellaneous income Total revenue 44,000 2,500 46,500 Actual 46,586 3, ,993 (Unfavorable) Favorable Variance 2, ,493 Expenditures: Legal and professional Office supplies and postage Repairs and maintenance Utilities Fire fighting supplies Insurance Truck expense Fire Fighting Incentive Pay Miscellaneous Capital outlay Total expenditures 1,000 2,200 9,500 5,000 22,000 5,500 23,400 5, ,000 76,269 1, ,079 4,059 6,723 4,996 8,296 2, ,315 39,229 37,040 Excess (deficiency) of revenues over expenditures (29,769) 11,764 41,533 Other Financing Sources (uses): Loan payments (26,700) (24,095) (2,605) Excess (Deficiency) of revenues and other sources over Expenditures and other uses (56,469) (12,331) 38,928 Fund balance, beginning 56,468 56,468 Fund balance, ending 44,137 38,928 See accountant's report.

10 SUPPLEMENTAL INFORMATION SCHEDULES

11 Webster Parish Fire Protection District #4 Schedule of Compensation Paid Board Members December 31,2004 The following serve on the Board of Commissioners without compensation: F.E. (Gene) Robinson Don Sayers Allan Strickland Charles Mims Chief Redelk Chairman Treasurer President Vice President Commissioner

12 Webster Parish Fire Protection District #4 Schedule of Current Year Findings December 31,2004 There were no findings for the year ended December 31 s

13 Webster Parish Fire Protection District #4 Summary Schedule of Prior Year Findings December 31, Bond Commission Approval During March 2003, the Fire District received a loan from a local bank for $44,200 to assist in the purchase of a truck. There was no documentation that the District received approval from the state bond commission. Under R.S. 39: the State Bond Commission must give its consent and approval when any public body borrows money or incurs debt, except for purchases made in the ordinary course of administration on terms of credit not to exceed 90 days. Management asserted they received state approval but was unable to locate documentation. Recommendation: We recommend the District report to the State Bond Commission and in the future before incurring debt over 90 days seek approval under R.S. 39:1410,60. Also documentation of approval should be maintained and recorded in the minutes. Status: After completion of the 2003 agreed upon procedures the district located the documentation concerning approval to issue the debt. The District had adhered to the legal requirements. 11