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2 LivingstonParishPresident-Council Livingston,Louisiana TABLEOFCONTENTS(CONTINUED FortheYearEndedDecember31,196 ScheduleofRevenues,Comparedto Budget(GAPBasis) ScheduleofExpenditures,Co~)ared tobudget(gapbasis) SpecialRevenueFunds: CombiningBalanceShet CombiningStatementofRevenues, Expenditures,andChangesin FundBalances StatementofRevenues,Expenditures,andChangesinFund Balance-Budget(GAPBasis) andactual: HealthUnitMaintenanceFund RoadEquipmentandMaintenanceFund CriminalCourtFund LibraryTaxFund ResidentialWasteFund BingoFund LCDBGGrant-SpringfieldTeraceFund CriminalCourtWitnesFund TouristComisionFund LawEnforcementGrantFund ImpactStudyFund DebtServiceFunds: CombiningBalanceShet CombiningStatementofRevenues, Expenditures,andChangesin Fund.Balance StatementofRevenues,Expenditures, andchangesinfundbalance- Budget(GAPBasis)andActual: (Continued) EXHIBIT/ SCHEDULE PAGE NUMBER ScheduleG-3 48 ScheduleG ExhibitH-I 57 ExhibitH Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit H-3 H-4H-5 H-6 H-7 H-8 H-9 H-10 H-I H-12 H ~72 ExhibitI-i 73 ExhibitI-2 74

3 LivingstonParish Livingston,President-Council Louisiana FortheYearEndedDecember31,196 OTHERSUPLEMENTARYINFORMATION IndependentAuditor'sReporton InternalControlStructureBased onanauditofprimarygovernment FinancialStatementsPerformed inacordancewithgovernment AuditinaStandards IndependentAuditor'sReportonComplianceBasedonanAuditofthe PrimaryGovernmentFinancialStatementsPerformed WithGovernmentinAcordance AuditinaStandards IndependentAuditor'sReportonthe InternalControlStructureUsedIn AdministeringFederalFinancial AsistancePrograms IndependentAuditor'sReportonComplianceWiththeGeneralRequirements AplicabletoFederalFinancial AsistancePrograms IndependentAuditor'sReportonComplianceWithSpecificRequirements AplicabletoMajorFederalFinancial AsistancePrograms ScheduleofFindingsandQuestionedCost IndependentAuditor'sReportonComplianceWithSpecificRequirements I~plicabletoNonmajorFederal FinancialAsistanceProgram Transactions IndependentAuditor'sReporton ScheduleofFederalFinancial Asistance ScheduleofFederalFinancial Asistance EXHIBIT/ SCHEDULE PAGE NUMBER 92-i

4 LivingstonParish Livingston,President-Council Louisiana FortheYearEndedDecember31,196 EXHIBIT/ CourthouseFund RecreationDistrict#iFund OakPlace/JubanCrestFund ExhibitI-3 SCHEDULE NI/MBER PAGE MagnoliaWodsFund ExhibitI-4 PlantationEstatesSinkingFund ExhibitI-5 75 WedgewodSinkingFund ExhibitI-6 SingleAcresSinkingFund ExhibitI-7 CapitalProjectsFunds ClineDrive/HiltopRoadSinkingFund ExhibitI-8 ExhibitI-9 Exhibit CombiningBalanceShet CombiningStatementofRevenues, ExhibitJ-I 83 Expenditures,andChangesin StatementofRevenues,Expenditures, FundBalances ExhibitJ-2 84 andchangesinfundbalance- Budget(GAPBasis)andActual: WedgewodConstructionFund SingleAcresConstructionFund ClineDrive/HiltopRoad ExhibitJ-3 EnterpriseFund: ConstructionFund ExhibitJ-5 ExhibitJ BalanceShet StatementofRevenues,Expenses, ExhibitK-I 8 StatementofCashFlows andchangesinretainedearnings ExhibitK-2 GeneralLong-TermDebtAcountGroup: ExhibitK StatementofGeneralLong-Telm,Debt ExhibitL 91 (Continued)

5 RANDYJBONECA2E,C.I~A' JOSEPHDRICHARDJR.,CEA ~ONIE.SI,~MPER,CP.A' S]EPHENMHUGINS,C,I~A' MONICRLZUMO,CF~A' RONALDLGAGNET,CPA' ERNANDI~GENRE,C~' CertifiedPublicAcountants DOUGLASJNELSONC.F~A" DenhamSprings,Louisiana S.RangeAvenue,Suite101 CERTIFIEDPUBLICACONSAN]~ AMERICANINS~UTUI[Ot MEMBERS CELESTEDVIATOR,CI~A (504) DENHAMSPRINGS,LA7072[ 1S.RANGE,SUITE101 LAURAEMONROE,CPA "AProfesionalAcou~lingCorp0r~ti0rb May7,197 ~NTAUDITOR' LivingstonParishPresident-Council Livingston,Louisiana Wehaveauditedtheacompanyingprimarygovernmentfinancialstatements ofthelivingstonparishpresident-council(formerlylivingstonparish PoliceJury),Livingston,LouisianasofandfortheyearendedDecember31,196,aslistedintheforegoingtableofcontents.Thesefinancialstatementsaretheresponsibilityofthemanagementofthe LivingstonParishPresident-Council.Ouresponsibilityistoexpres anopiniononthesefinancialstatementsbasedonouraudit. Weconductedourauditinacordancewithgeneralyaceptedauditing standardsandgovernmentauditinqstandardsisuedbythecomptroler GeneraloftheUnitedStates,andtheprovisionsoftheOficeof ManagementandBudgetCircularA-128"AuditsofStateandLocal Governments".Thosestandardsrequirethatweplanandperformthe auditobtainreasonableasuranceaboutwhetherthefinancialstatementsarefreof[materialmistatement.anauditincludesexamining, onatestbasis,evidencesuportingtheamountsanddisclosuresinthe financialstatements.anauditalsoincludesasesingtheacounting principlesusedandsignificantestimatesmadebymanagement,aswelas evaluatingtheoveralfinancialstatementpresentation.webelieve thatourauditprovidesareasonablebasisforouropinion. Theprimarygovernmentfinancialstatementsreferedtoabovedonot includethegeneralfixedasetsacountgroup,whichshouldbe includedinordertoconformwithgeneralyaceptedacountingprinciples.thegeneralfixedasetsacountgrouphasnotbenupdatedsince Dece~er31,192,thereforetheactualamounthatshouldberecorded inthegeneralfixedasetsacountgroupisnotacuratelyknown.

6 Aprimarygovernmentisalegalentityorbodypoliticandincludesal funded,organizations,agencies,departmentsandoficesthatarenot legalyseparate.suchlegalyseparateentitiesarereferedtoas componentunits.]inouropinion,exceptfortheefectsonthefinancialstatementsoftheomisiondescribedintheprecedingparagraph, theprimarygovernmentfinancialstatementspresentfairly,inalmaterialrespects,thefinancialpositionoftheprimarygovernmentofthe LivingstonParishPresident-Council,asofDecember31,196,andthe resultsofitsoperationsandcashflowsofitsproprietaryfundtype fortheyearthenendedinconformitywithgeneralyaceptedacounting principles. However,theprimarygovernmentfinancialstatements,forthereason describedinthethirdparagraphandbecausetheydonotincludethe financialdataofcomponentunitsofthelivingstonparishpresident- Council,donotpurporto,anddonot,presentfairlythefinancial positionofthelivingstonparishpresident-council,asofdecember31,196,andtheresultsofitsoperationsandcashflowsofits proprietaryfundtypefortheyearthenendedinconformitywithgeneralyaceptedacountingprinciples. Ourauditwasconductedforthepurposeofforminganopiniononthe primarygovernmentfinancialstatements.thecombiningandindividual fundandacountgroupfinancialstatementsandscheduleslistedinthe tableofcontentsarepresentedforthepurposeofaditionalanalysis andarenotarequiredpartoftheprimarygovernmentfinancialstatemente~ofthelivingstonparishpresident-council.suchinformation hasbensubjectedtotheauditingproceduresapliedintheaudit oftheprimarygovernmentfinancialstatementsand,inouropinion,is fairlypresentedinalmaterialrespectsinrelationtotheprimary governmentfinancialstatementstakenasawhole. InacordancewithGovernmentAuditinqStandards, reportdatedmay7,197,onourconsiderationof President-Council'sinternalcontrolstructureand 197,onitscompliancewithlawsandregulations wehavealsoisueda thelivingstonparish areportdatedmay7, Respectfulysubmited,

7 LivingstonParishPresident-Council December31,196 TYPES ASETS SPECIAL REVENUE SERVICE DEBT CAPITAL CashandCashEquivalents-Note3 $1,08,83$1,372,521$41,838$15,530 PROJECT Investments-Note3 InvestmentinDefered Compensation-Note12-1,158,184 - Receivables: AdValoremTaxes-Note4 DuefromOtherFunds- SpecialAsesments Other'-Note5 159,691,621,938 DuefromOther Note7 27,573 1S,19 516,628 10,48 Deposits FixedAsets Governments -Note6 14, ,14 1,232 Acumulated (Netof OtherDebits: Depreciation) 141, ,272 AmountAvailablefor AmountobeProvided RetirementofLong- TermDebt forretirementof Long-TermDebt TotalAsetsand OtherDebits $1,967,169$4,309,726$942,458$15,530 (CONTINUED) 3

8 PRIMARYGOVERNMENTFINANCIALSTATEMENTS-OVERSIGHTUNIT (COMBINEDSTATEMENTS-OVERVIEW)

9 LivingstonParishPresident-Council R December31,196 LIABILITIESANU9 Liabilities: FUNDEQUITY GENERAL SPECIAL REVENUE SERVICE DEBT CAPITAL PROJECT AcountsPayable AdValoremTax RetainagePayable DuetoOtherFunds- DeductionsPayable 14,856$285,309$ 6,097 62,068 DuetoOtherGovernments DepositsandEscrow Note ,763 DeferedRevenue BondsPayable-Notei0 Acounts 28, $1,516 1,419 12, PavingCertificatesof 4,60 31, ,814 CompensatedAbsences Note10 IndebtednesPayable- ObligationsUnder Payable-NoteI0 Note9 CapitalLeases- FundEquity: TotalLiabilities 15,567 52, , ,794 RetainedEarnings: FundBalance: Unreserved Reservedfor Unreserved: DebtService Designatedfor 538,074 Undesignated Construction TotalFundEquity 1,81~602 1,81,6023,757,153 ~;68,840 30,76 TotalLiabilities 31,736 31,736 andfundequity$1,967,169$4,309,726$942,458$15,530 Theacompanyingnotesconstituteanintegralpartofthistatement. 4

10 PROPRIETARY FUNDTYPEFIDUCIARY TRUST ACOUNT AGENCY AND LONG-TERM(MEMORANDUM GENERAL GROUP DEBT TOTALS ONLY) $275,309$ 541,412 $ $3,24,031 15,231 1,69,596 5,796 1,792,125 15, , , , , , , ,074 1,374,62._21,374,62 $1,470207$15,231$1,912,696$10,73,017

11 LivingstonParishPresident-Council FortheYearEndedDecember31,196 GOVERNMP:NTALFUNDTYPES Revenues Taxes SpecialAsesments LicensesandPermits $383,217$1,78,208$17,574 GENERALREVENUESERVICEPROJECTS SPECIAL DEBTCAPITAL (MEMORANDUM TOTALS FinesandForfeits FesandComisions 410,030 Royaltiesand 57,698270,583 34,84102,264 Intergover~,ental MineralLeases Miscelaneous Revenue 1,97,87 945,80 61,621,145,015 1,172,529 37,325 $2,18 ONLY) 1, TotalRevenue 3,236,2544,52,837 14]~618 Expenditures: 137,371 17, ,860 2,52, ,80 7,968,647 25f63 Curent: Legislative Judicial Elections 13,81 GeneralGovernment 431,738 PublicSafety PublicWorks 51,898 65,15 20,947 HealthandWelfare CapitalOutlay CultureandRecreation 954,936 8,876 62, ~5, DebtService: EconomicDevelopment 150,785 1,582,051 32,797 1,187,254 Principal Interest 46,363 46,676 34,41 364,814 TotalE~enditures2,382,8054,075,285 31,935.34a , ,787 32,656 62, ,186, , ExcesofRevenues OtherFinancingSources Over(Under) Expenditures (Uses): 853,4947,52(185,285)(363,929)781,787 NetProcedsfromthe OperatingTransfersIn catesofindebtednes IsuanceofCertifi- 264,0 264,0 OperatingTransfers Out TotalOtherFinancingSources(Uses)(20,0)20,0 (20,0)(64=_0) 207,370207, , ,370 (CONTINUED) 5

12 PROPRIETARY FUNDTYPE ENTERPRISE FIDUCIARY FUNDTYPE TRUST ACOUNT AGENCY AND LONG-TERM(MEMORANDUM GENERAL GROUP DEBT TOTALS ONLY) 1,049$- $542,730 68,50 146,196 12,168 1,30 15,231 28, , , ,734 16, ,373 95,23 485,373 95,23 2,349 15,231 1,912, ,135, ,356 1,467,858 1,467, ,074 31,736 1,467,858 5,59,521 7,637,189 $1,470,207$15,231$1,912,696$10,73,017 ExhibitA (Continued)

13 ]LivingstonParishPresident-Council (Continued) NEDSTATEMENTOFREVENUEs.EXPENDIT ExhibitB FortheYearEndedDecember31,196 GENERALREVENUE GOVERNMENTALFUNDTYPES SPECIAL SERVICEPROJECTS DEBTCAPITAL (MEMORANDUM ExcesofRevenues TOTALS ONLY) andothersources Over(Under) Expendituresand FundBalancesatBeginingofYear,as OtherUses 653,4967'7,52(185,285)(156,59)989,157 PriorYearAdjustments- OriginalyReported1,213,2813,174,109747,80718,2955,323,492 FundBalanceatBegir~ingofYear,as Note16 (5,128)_/94_~508)6,318 (143,318 FundBalanceatEnd Restated 1,158,1533,079,601754,12518,2955,180,174 ofyear $1,81,602$3,757,153$568,840$31,736$6,169,31 Theacompanyingnotesconstituteanintegralpartofthisstatement 6

14 LivingstonParishPresident-Council FortheYearEndedDecember31,196 G VARIANCE- Revenues: Taxes Licensesand FinesandForfeits FesandComissions Permits $329,425$383,217$53,792$1,582,818 BUDGET A~TUAL(UNFAVORABLE) 314,407 82,078410,030 57,698 (24,380) 95,623 34,353 Royaltiesand Intergovernmental MineralLeases Revenue 1,32,8351,37,87 686,90945,80 258,90 i,i10, ,561 Miscelaneous TotalRevenue2,769,153,236,254 3,510 61,62 467,094,057,76 28,1.1_2 5,052 95,839 9,069 Expenditures: Curent: Legislative Judicial Elections GeneralGovernment 450,624 12,829 PublicSafety PublicWorks 512,075 70, ,738 13,81 HealthandWelfare 925,040 Cultureand 4,26 51,898 EconomicDevelopment 3,549 Recreation 148, ,936 65,15 (i184 13, ,785 8, ( ,728,616 57,541 1,184,637 CapitalOutlay DebtService: Principal 98,468 32,797 Interest 284,41 46, , , ,935 34,41 250,0 52, , , ,831 TotalExpenditures 2,961,4392,382,805 42, ,6344,139,976 (CONTINUED) 7

15 LivingstonParishPresident-Council GENERALANDSPECIALR FortheYearEndedDecember31,196 GENERALF VARIANCE- SPECIAL ExcesofRevenues BUDGET ACTUAL(UNFAVORABLE)BUDGET Over(Under) OtherFinancing Expenditures (192,284)853,491,045,73 (82,210) Sources(Uses): OperatingTransfers OperatingTransfers In Out (40,0)_~0,0)20,0-475,0 TotalOther (75,0) FinancingSources Excesof (Uses) (40,0)(20,0)20,0 40,0 Revenuesand Other'Sources Over(Under)Expendituresand FundBalancesat OtherUses (592,284)653,491,245,73 317,790 BeginingofYear, asoriginaly Reported 1,213,2811,213,281 PriorYear'Adjustments-Note16 (5,128)(5,!.2_8) 3,174,109 BeginingofYear, FundBalancesat FundBalancesat a~restated 1,213,2811,158,153 (5,3.28)3,174,109 EndofYear $620,97$1,81,602$1,190,605$3,491,89 Theacompanyingnotesconstituteanintegralpartofthistatement 8

16 ExhibitC REVENUEFUNDS VARIANCE- (UNFAVORABLE) $1,78,208$ ,583 34, ,172, ,145,015 4,52,837 _141,618 45,79 145, ,071 20,947 62,535 (87,076 1,582,051 (4,94 1,187, ,(2, ,676 (38,91) 364, ,832 4:4, _8,291 (1,01) 4,075,285 64,691

17 LivingstonParishPresident-Council ~EDSTATEMENTSOFREVENUES.EXPENDI~ FortheYearEndedDecember31,196 DEBTSERVICEFUNDS BUDGET ACTUAL(UNFAVORABLE) VARIANCE- Revenues: Taxes SpecialAsesments79,24 Miscelaneous $ 13,40 17,53 87$17, ,264 $16,687 23,040 Expenditures: Curent: TotalRevenue 93,51 137,371 43,860 4,3:3_3 CapitalOutlay DebtService: GeneralGovernment 878 (878)(i) Principal Interestand FiscalCharges 258, ,787 TotalExpendi- tures 32,629 63,843 62,91 85_/2 ExcesofRevenues 32,656 (27) OtherFinancing Over(Under) Expenditures(29,18)(185,285) 43,83 Sources(Uses): NetProcedsfrom theisuanceof Certificatesof Indebtednes TotalOther Financing ExcesofRevenues Sources andothersources Over(Under) Expenditures (29,18)(].85,285) 43,83 (COh~EINUED) 9

18 ExhibitC (Continued) REVENUEFUNDS VARIANCE- FAVORABLE 47,52 59,762 _(64,0)_Ii,0 264,0 (21,0) 20,0 (20,0) 67,52 359,762 3,174,109 _(94,508)_~94,508) 3,079,601 (94,508) $3,757,153$265,254

19 LivingstonParishPresident-Council FortheYearEndedDecember31,196 DEBTSERVICEFUNDS BUDGET AC_TUAL(UNFAVORABLE)BUDGET VARIANCE- FundBalancesat BeginingofYear, asoriginaly Reported 719,89747,807 27,908 18,295 PriorYearAdjustments-Note16 FundBalancesat BeginingofYear, asrestated 719,89754,125 34,26 18,295 FundBalancesat EndofYear $490,781$568,840$78,059$4,695 Theacompanyingnotesconstituteanintegralpartofthistatement I0

20 VARIANCE- FAVORABLE _ 37,325 42,185 4,860 23,94 26,28 2, , , (9,120) 3, ,14 24,816 (363,929) 51,04 207,370 (24,03) 207,370 (24,03) 156,59) 27,041

21 LivingstonParishPresident-Council Exhibit_~E FortheYearEndedDecember31,196 OperatingRevenues: RentalIncome MiscelaneousRevenues OperatingExpenses: TotalOperatingRevenues Depreciation Insurance MaintenanceofProperty Miscelaneous utilities TotalOperatingExpenses Non-OperatingRevenues(Expenses): OperatingIncome InterestIncome DividendIncome UnrealizedGainsand(Loses) oninvestments TotalNon-OperatingRevenues~ndExpenses RetainedEarnings-BeginingofYear, NetIncome PriorPeriodAdjustments-Note16 asoriginalyreported RetainedEarnings-BeginingofYear, asrestated RetainedEarnings-EndofYear $87, ,569 43,051 13, , ,826 15,743 23,565 16,593 (7,354) 32,804 48,547 1,384,029 1,419,31 35,282 $1,467,858 Theacompanyingnotesconstitute anintegralpartofthisstatement i

22 ExhibitD (Continued) PR~ VARIANCE- FAVORABLE S 18,295 18,295 $31,736$27,041

23 STATEMENTOFCASHFLOWS-PROPRIETARYFUNDTYPE LivingstonParishPresident-Council ExhibitF FortheYearEndedDecember31,196 CashFlowsFromOperatingActivities: OperatingIncome ~justmentstoreconcileoperating IncometoNetCashProvidedby $15,743 OperatingActivities: Depreciation ChangesinAsetsandLiabilities: 43,051 (Increase)DecreaseinAcountsReceivable Increase(Decrease)inAcountsPayable Increase(Decrease)inSecurityDeposits (320) Payable (20) NetCashProvidedbyOperating Activities 58,854 6O0 CashFlowsFromNoncapitalFinancing Activities: RepaymenttoOtherFunds NetCashUsedinNoncapital FinancingActivities (15,693) (15,693) CashFlowsFromIn~estingActivities PurchasesofInvestments InterestandDividendIncomefromInvestments (16,593) NetCashProvidedbyInvesting 40,158 NetIncreaseinCashandCashEquiw~lents Activities 23,565 CashandCashEquivalents-BeginingofYear 6,726 CashandCashEquivalents-EndofYear $275, ,583 Theacompanyingnotesconstituteanintegralpartofthistatement 3.2

24 ]LivingstonParishPresident-Council December31,196 (I)SumaryofSignificantAcountingPolicies- TheLivingstonParishPresident-Council("TheCouncil")isthe governingauthorityforlivingstonparishandisapolitical subdivisionofthestateoflouisiana.theyear196wasthe firstyearthelivingstonparishpresident-counciloperatedasa president-councilformofgovernmentwhichoperatesunderahome rulecharter.priorto196,thelivingstonparishpresident- Counciloperatedunderapolicejuryformofgovernment.The president-councilformofgovernmentconsistsofanelected presidentwhoisthechiefexecutiveoficerandheadofthe executivebranchandanelectedcouncilwhichconstitutesthe legislativebranchofthegovernment.thecouncilenacts ordinances,setspolicies,andestablishesprogramsinsuch fieldsassocialwelfare,transportation,drainage,industrial inducementandhealthservices. AsthegoverningauthorityoftheCouncil,forreportingpurposes,theLivingstonParishPresident-Counclisthefinancial reportingentityforlivingstonparish.thefinancialreporting entityconsistsof(a)theprimary president-council),(b)organizationsforwhichtheprimary governmentisfinancialyacountable,and(c)other government(parish organizationsforwhichthenatureandsignificanceoftheir relationshipwiththeprimarygovernmentaresuchthatexclusion wouldcausethereportingentity'sfinancialstatementstobe misleadingorincomplete. GovernmentalAcountingStandardsBoard(GASB)StatementNo.14, thefinancialreportingentity,establishedcriteriafor determiningwhichcomponentunitsshouldbeconsideredpartof thelivingstonparishpresident-councilforfinancialreporting purposes.thebasiccriterionforincludingapotential componentunitwithinthereportingentityisfinancial acountability.thegasbhassetforthcriteriatobe consideredindeterminingfinancialacountability.this criteriaincludes: i.apointingavotingmajorityofanorganization'sgoverning bodyand a.theabilityofthecounciltoimposeitswilonthat b.thepotentialfortheorganizationtoprovidespecific organizationand/or financialbenefitstoorimposespecificfinancial burdensonthecouncil. 13

25 LivingstonParishPresident-Council NOTESTOTHEFINANCIAl,STATEMENTS(CONTINUED December31,196 2.OrganizationsforwhichtheCouncildoesnotapointavoting majoritybutarefiscalydependentonthecouncil. 3.Organizationsforwhichthereportingentityfinancialstatementswouldbemisleadingifdataoftheorganizationis notincludedbecauseofthenatureorsignificanceofthe relationship. Basedonthepreviouscriteria,theCouncilhasdeterminedthat thefolowingcomponentunitsarepartofthereportingentity: FireNoNoNoNoNoNoNoNoNONoNo ProtectionDistricts I0i12 RecreationDistricts No.2 No.3 No.5 No.6 No.7 No.8 No.9 FISCAL YEAREND December31 June30 December31 December31 June30 December31 June30 June30 December31 June30 June30 December31 December31 Dec!ember31 December31 December31 December31 December31 LivingstonParishGas UtilityDistrict November30 SewerageDistricts No.1 No.2 No.4 No.6 December31 December31 Dec.ember31 December31 14 CRITERIA USED and andandandandandandandandandand andandandandandandand 1and3

26 LivingstonParishPresident-Council December31,196 FISCAL YEAREND Ward2WaterworksDistrict Dec;ember31 Ward6WaterworksDistrict Dec:ember31 GravityDrainageDistrict No.1 December31 GravityDrainageDistrict No.5 December31 ComunicationsDistrict December31 CRITERIA USED 1and3 1and3 1and3 1and3 1and3 GASBCodificationSections providesfortheisuanceof primarygovernmentfinancialstatementswhichareseparatefrom thoseofthereportingentity.however,aprimarygovernment's financialstatementsarenotasubstituteforthereporting entity'sfinancialstatements.thecouncilhaschosentoisue financialstatementsoftheprimarygovernmentonly,exceptfor theinclusionofthecriminalcourtandlibraryspecialrevenue Funds,whosefinancialrecordsaremaintainedbytheCouncil. Assuch,theacompanyingfinancialstatementsarenotintended toanddonotreportinacordancewithgasbcodification Section23.0. Theparishscholboard,certainindependentlyelectedparishoficials,andmunicipalevelgovernmentsarexcludedfrom theacompanyingfinancialstatementsastheyareconsidered autonomousgovernments.theseunitsofgovernmentisuefinancialstatementseparatefromthoseofthecouncil. A.BasisofPresentation TheacountsoftheCouncilareorganizedonthebasisof fundsandacountgroups,eachofwhichisconsideredaseparateacountingentity.theoperationsofeachfundare acountedforwithaseparatesetofself-balancingacounts thatcomprisesitsasets,liabilities,fundequity,revenues,andexpendituresorexpenses.revenuesareacounted forintheseindividualfundsbaseduponthepurposefor whichtheyaretobespentandthemeansbywhichspending activitiesarecontroled.thefundspresentedinthe financialstatementsaredescribedasfolows: 15

27 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED LivingstonParishPresident-Council December31,196 GovernmentalFundTypes: GeneralFund-The fundofthecouncilgeneral cialresources,except otherfunds. Itis those Fundisthegeneraloperating usedtoacountforalfinanrequiredtobeacountedforin SpecialRevenueFunds-SpecialRevenueFundsareusedto acountfortheprocedsofspecificrevenuesourcesthat arelegalyrestrictedtoexpendituresforspecifiedpurposes. DebtServiceFunds-DebtService fortheacumulationofresourcesfundsareusedtoacount generallong-termdebtprincipal,interest costs. for,andthe paymentof, andrelated CapitalProjectsFunds-TheCapitalProjectsFundsareused toacountforfinancialresourcesusedtoconstructnew facilitiesintheparish. ProprietaryFundType EnterpriseFunds-EnterpriseFundsareusedtoacountfor operationsthatarefinancedandoperatedinamaner similartoprivatebusinesenterpriseswheretheintentof thegoverningbodyisthatthecosts(expenses,including depreciation)ofprovidingodsorservicestothegeneral publiconacontinuingbasisbefinancedorrecovered primarilythroughusercharges;orwherethegoverningbody hasdecidedthatperiodicdeterminationofrevenuesearned, expensesincured,and/ornetincomeisapropriatefor capitalmaintenance,publicpolicy,managementcontrol, acountability,orotherpurposes. AcountGroups: GeneralFixedAsetsAcountGroup-Thegeneralfixed asetsacountgroupisusedtoacountforfixedasetsnot acountedforintheproprietaryfund. 16

28 N LivingstonParishPresident-Council December31,196 GeneralLong-TermDebtAcountGroup-Thegeneralong-term debtacountgroupisusedtoacountfoxgeneralong-term andcertainotherliabilstiesthatarenotspecificliabilitiesoftheproprietaryfund. B.FixedAsetsandLong-TermObligations Generalfixedasetsarethoseacquiredforgeneralgovernmentalpurposes.Asetspurchasedarerecordedasexpendituresinthegovernmentalfundsandcapitalizedatcostor estimatedcostinthegeneralfixedasetsacountgroup. Interestisnotcapitalized. Fixedasetsconsistingofcertainimprovementsotherthan buildings,includingroads,bridges,curbsandguters, stretsandsidewalks,drainagesystems,andlightingsystems,havenotbencapitalized.suchasetsnormalyare imovableandofvalueonlytothecouncil.therefore,the purposeofstewardshipforcapitalexpendituresisatisfied withoutrecordingtheseasets.thesefinancialstatements donotincludethegeneralfixedasetgroupofacounts. Fixedasetsusedintheproprietaryfundoperationsare includedonthebalanceshetoftheproprietaryfundalong withacumulateddepreciation.depreciationofalexhaustiblefixedasetsusedbyproprietaryfundoperations ischargedasanexpenseagainstoperations.depreciation fortheyearendeddecember31,196hasbencomputedusing thestraight-linemethodovertheusefulivesoftheasets rangingfromthretotwentyyears,withthemajoritybeing tenyears. Long-tez~obligationsexpectedtobefinancedfromgovernmentalfundsarereportedinthegenerallong-termdebt acountgroup.expendituresforprincipalandinterest paymentsforlong-termobligationsarerecognizedinthe C.TotalColumnsonCombinedStatements governmentalfundswhendue. Totalcolumnsonthecombinedstatements(Overview)are captionedmemorandumonlytoindicatethattheyare presentedonlytofacilitatefinancialanalysis.datain thesecolumnsdonotpresentfinancialposition,resultsof operations,orchangesinfinancialpositioninconformity withgeneralyaceptedacountingprinciples;neitheris suchdatacomparabletoaconsolidation.interfundeliminationshavenotbenmadeintheagregationofthisdata. 17

29 NOTR~qTOTHEFINANCIA/JSTATEMENTS(COI~I'INUED ]LivingstonParishPresident-Council December31,196 D.BasisofAcounting Theacountingandfinancialreportingtreatmentapliedto afundisdeterminedbyitsmeasurementfocus.thegovernmentalfundsareacountedforusingacurentfinancial resourcesmeasurementfocus.withthismeasurementfocus, onlycurentasetsandcurentliabilitiesgeneralyare includedonthebalanceshet.operatingstatementsof thesefundspresentincreases(i.e.,revenuesandother financingsources)anddecreases(i.e.,expendituresand otherfinancinguses)inetcurentasets. Thegovernmentalfundsaremaintainedonthemodified acrualbasisofacounting.underthemodifiedacrual basisof[acountingrevenuesarerecognizedwhensusceptible toacrual(i.e.,whentheyare~measurableandavailable"). "Measurable"meanstheamountofthetransactioncanbe determinedand~available"meanscolectiblewithinthecurrentperiodorsonenoughthereaftertopayliabilitiesof thecurentperiod.thegovernmentconsidersalrevenues availableiftheyarecolectedwithin60daysafteryear end.thegovernmentalfundsusethefolowingpracticesin recordingrevenuesandexpenditures: Revenues Advaloremtaxesarerecordedintheyearthetaxesaredue andpayable.advaloremtaxesareasesedonacalendar yearbasis,becomedueonnovember15thofeachyear,and becomedelinquentafterdecember31st.thetaxesaregeneralycolectedindecember,januaryandfebruary. Entitlementsandsharedrevenuesarerecordedathetimeof met. receiptorearlierifthesusceptibletoacrualcriteriais Expenditure-drivengrantsarerecognizedasrevenuewhenthe qualifyingexpenditureshavebenincuredandalother grantrequirementshavebenmet. Finesax~forfeituresarerecordedintheyeartheyare receivedbythetaxcolector. mentshavematuredandtheincomeisavailable. Interestincomeoninvestmentsisrecordedwhentheinvest- Substantialyalotherevenuesarerecordedwhenreceived 18

30 LivingstonParishPresident-Council December31,196 Expendituresaregeneralyrecognizedintheacounting periodinwhichtherelatedfundliabilityisincured,if measurable,exceptforthefolowing:(i)principaland interestongeneralong-termobligationswhicharenotrecognizeduntildue,and(2)claimsandjudgementsandcompensatedabsencesarerecordedasexpenditureswhenpaidwith expendableavailablefinancialresources. OtherFinancingSources(Uses) Transfersbetwenfundswhicharenotexpectedtoberepaid, procedsfromlong-termobligations,andthesaleofequipmentareacountedforasotherfinancingsources(uses). Theseotherfinancingsources(uses)arerecognizedatthe timetheunderlyingeventsocur. TheEnterpriseFundismaintainedonacashbasisof acounting.however,thefund,asreportedintheacompanyingfinancialstatements,hasbenconvertedtothe acrualbasisofacounting.revenuesarerecognizedwhen theyareearned,andexpensesarerecognizedwhentheyare incured.transfersto/fromotherfundsareacountedfor E.BudgetPoliciesandBudgetaryAcounting asoperatingtransfersin/out. Anualbudgetsareadoptedonabasisconsistentwithgeneralyaceptedacountingprinciplesforalgovernmental funds.alanualapropriationslapseatyearend. Thefor I. TheFinanceDepartmentcompilesforthePresidentestimatesofrevenuesandrequestsforapropriationsofthe HomeRuleCharterfortheCounciloutlinesprocedures adoptinganoperatingbudget: 2.At[eastninety(90)dayspriortothebeginingofeach anualbudget. year,thepresident'sbudgetisubmitedtothecouncil forposiblerevisionandadoption. 19

31 LivingstonParishPresident-Council December31,196 3.TheCouncilconductspublichearingsonthebudgetwhich mustbeadoptednotlaterthanthesecond-to-lastregularmetingoftheyear. 4.Inoeventshalthetotalapropriationsexcedtotal anticipatedrevenuestakingintoacounttheestimated IfduringtheyearthePresidentcertifiesthatthereare surplusordeficitatthendofthecurentyear. availableforapropriation,fundsinexcesofthoseest~matedintheoperatingbudget,thepresidentmaypresenta suplementothebudgetforthedispositionofsuchfunds, andthecouncilbyordinancemaymakesuplementalapropriationsfortheyearuptotheamountofsuchexcesinthe samemanerequiredforadoptionofthebudget.ifatany timeduringtheyearitapearstothepresidentthatthe fundsavailablewilbeinsuficientomettheamountappropriated,thepresidentshalreporttothecouncil,withoutdelay,indicatingtheestimatedamountofthedeficit, anyremedialactiontakenandrecomendationsastoany otherstepstobetaken.thecouncilshalthentakesuch furtheractionasitdemsnecesarytopreventadeficit. AtanytimeduringtheyearthePresidentmaytransferpart oralofanyunencumberedapropriationwithinprograms, excepthatnotransfershalbemadetorfromthesalary acountunlesaprovedbythecouncilbyordinance.such transfershalnotcausethetotalamountapropriatedto beincreased.anunencun~eredapropriationbalancemaybe transferedfromonedepartment,oficeoragencytoanother orfromoneprogramtoanotheronlyuponcouncilactionby ordinance. Formalbudgetaryintegrationisnotemployed.Duringthe year,periodicbudgetcomparisonsaremadeasapartof interimreporting.thecouncildoesnotacountfornor reportencumbrances. ActivitiesoftheGeneralFund,SpecialRevenueFunds,Debt ServiceFunds,andCapitalProjectsFundsareincludedin theanualapropriatedbudget.for196,theroaddistrict SinkingFunddidnothaveabudgetpreparedbecausethe bondswerepaidoutinfiscalyear195. During196,suplementalapropriationsintheGeneralFund intheamountof$80,834wereauthorized. 20

32 LivingstonParishPresident-Council December31,196 F.DepositsandInvestments ForpurposesoftheStatementofCashFlows,theDixonMedicalOficeFund,theenterprisefund,considersalhighly li~lidinvestments(includingrestrictedasets)witha maturityofthremonthsorleswhenpurchasedtobecash equivalents. TheCouncil'scashandcashequivalentsareconsideredtobe cashonhand,demandeposits,andcertificatesofdeposits, withoriginalmaturitiesofthremonthsorlesfromthe dateofacquisition. Understatelaw,theCouncilmaydepositfundsindemand deposits,interestbearingdemanddeposits,moneymarket acounts,ortimedepositswithstatebanksorganizedunder Louisianalawandnationalbankshavingtheirprincipal oficesinlouisiana. LouisianaRevisedStatues39:1271authorizestheCouncilto investupto25%ofmoniesconsideredtobeavailablefor investment.investmentsarestatedatfairvalue.fair valueis~theamountatwhichafinancialinstrumentcould beexchangedinacurentransactionbetwenwilingparties,otherthaninaforcedliquidationorsale."certificatesofdepositsarestatedatcostwhichaproximatesfair value.formutualfunds,thequotedmarketpricequates G.CompensatedAbsences fairvalue. Ful-timemployesoftheCouncilearnfrom5to20days ofvacationleaveeachyeardependingonlengthofservice. Vacationleavemaybecariedoverandacumulatedinsubsequentcalendaryears.However,uponterminationorretirement,onlyamaximumof].60hourswilbepaid. Sickleaveisearnedbypermanentful-timeemployesathe rateoffourhoursperpayperiod.uponterminationor retirement,anemployewilnotbepaidforanyacumulated sickleave.however,anyunusedandu~paidvacationleave andsickleavemaybeconvertedtoaditionalretirement benefitcredit.employesarealowedtoacruecompensatoryleaveforhoursworkedinexcesofortyhoursper wekatarateofoneandone-half(1-]./2)hoursforeach hourworkedinexcesofortyhoursperwek.uponseparation,anemployewilbepaidforanyacruedcompensatory time. 21

33 NOTESTOTHEFINANCIAl,STATEMENTS(CONTINUED) LivingstonParishPresident-Council December31,196 Compensatedabsencespaythatisexpectedtobeliquidated withexpendableavailablefinancialresourcesisreportedas anexpenditureandafundliabilityofthegovernmentalfund thatwilpayit.amountsnotexpectedtobeliquidated withexpendableavailablefinancialresourcesarereported inthegeneralong-termdebtacountgroup.noexpenditure isreportedfortheseamounts.asofdecember31,196,the liabilityforcompensatedabsencesis$95,23andis H.DueTo/FromOtherFunds recordedinthegenerallong-termdebtacountgroup. 1~ringthecourseofoperations,numeroustransactionsocur betwenindividualfundsforgodsprovidedorservicesrendered.thesereceivablesandpayablesareclasifiedasdue I.UseofEstimates fromotherfundsorduetotherfundsonthebalanceshet. Thepreparationofinancialstatementsinconformityw~th generalyaceptedacountingprinciplesincludestheuseof estimatesthatafectthefinancialstatements.acordingly,actualresultscouldiferfromthoseestimates. J.AcountingforSpecialAsesmentProjects SpecialAsesmentProjectsareacountedforinacordance withguidelinesrecomendedbystatementno.6ofthe GovernmentalAcountingStandardsBoard. SpecialAsesmentsarerecognizedas individualinstalmentsareconsideredue (2)Stewardship,ComplianceandAcountabilitycanbeusedinpaymentofspecialasesment andpayableand revenueswhen debt. A.DeficitFundBalanceofIndividualFund AtDecember31,196,theonlyfundreflectingadeficit fundbalanceisthelawenforcementgrantfund.thisspecial RevenueFundhasadeficitfundbalanceatDecember31,196 of$41. 2

34 LivingstonParishPresident-Council December31,196 B.ExcesofExpenditures(~erApropriations Thefolowingfundshadactualexpendituresinexcesof budgetedexpendituresfortheyearendeddecember31,196: BUDGES ACTUAL UNFAVORABLE SpecialRevenueFunds: VARIANCE HealthUnitMaintenance$ CriminalCourt LibraryTax ResidentialWaste LCDBGGrant-Springfield Terace 3, CriminalCourtWitnes LawEnforcementGrant 101,89 8,80 142,483 TotalSpecial 1, ,584 2,6327 RevenueFunds $2,069,878$2,240,535$170,657 DebtServiceFunds: RecreationDistrict#i WedgewodSinking SingleAcres ClineDr./HiltopRd. $198,365$ 2, ,651$ 2,94715 TotalDebtService Funds $21,045$21,859$814 CapitalProjectsFunds: Wedgewod TotalCapital ProjectsFunds (3)DepositsandInvestments- $186,869$18,836$1,967 $1,967 TheCouncilmaintainsvariousdepositacountsforthecurrentoperationsofeachoftheindividualfundsoftheCouncil. deposit,whichavematuritydatesgreaterthan90dayswhen purchased,andarethereforeclasifiedasinvestments.the Inadition,theCouncilinvestsalfundsincertificatesof DixonMedicalPlazaEnterpriseFundhasfundsinvestedina governmentsecuritiesmutualfund. 23

35 LivingstonParishPresident-Council December31,196 A.Deposits TheCouncil'sbankbalancesatDecember31,196,arecategorizedintothrelevelsofcreditrisk.Categoryi includesbankbalanceswhichareinsuredorcolateralized withsecuritiesheldbythecounciloritsagentinthe Cow~cil'sname.Category2includesbankbalanceswhichare colateralizedwithsecuritiesheldbythepledging financialinstitution'strustdepartmentoragentinthe Council'sname.Category3includesbankbalanceswhichare uncolateralized,includinganybalanceswhichare colateralizedwith~lecuritiesheldbythepledging financialinstitutionorbyitstrustdepartmentoragent butnotinthecouncil'sname. Areconciliationofcashandcashequivalentsashownon theco~inedbalanceshetasofdecember31,196,isas folows: CashonHand BALANCE BANK 1CATEGORY Deposits TotalCash andcash 3,39,3533_~39,353 $ $ 2 $50$ 3 CARYING AMOUNT 3,23, Equivalents $3,39,353$3,39,353$ $50$3,24,031 B.Investments TheCouncil'sinvestmentsarecategorizedtogiveanindicationofthelevelofriskasumedbytheCouncilatDecember31,196.Thecategoriesaredescribedasfolows: Category1includesinvestmentsinsuredorregistered,and heldbythecounciloritsagentinthecouncil'sname. Category2includesinvestmentswhichareuninsuredandunregisteredandtheinvestmentsareheldbythecounterparty'strustdepartment;oragentintheCouncil'sname. Category3isthesameasCategory2butthesecuritiesare notinthecouncil'sname. 24

36 LivingstonParishPresident-Council NOTV~STOTHEFINANCIAl,STATEMENTS(CONTINUED December31,196 AreconciliationofInvestmentsasshownontheCombined BalanceShetasofDecember31,196,isasfolows: Certificatesof Deposit,with MaturitiesGreater than90days TotalCertificatesof Deposit InvestmentsNot SubjectoCategorization: U.S.Government Securities MutualFund TotalInvestments CATEGORY $~,465,17$ $1,465,17$ 4)AdValoremTaxes- CARYING AMOUNT FAIR VALUE $!,465,17$1,465,17 1,465,171,465,]7 234, L~419 $1,69,596$1,69,596 The1974LouisianaConstitution(Article7Section18)provided thatlandandimprovementsforresidentialpurposesbeasesed at10%ofairmarketvalue;otherpropertyandelectriccoperativeproperties,excludingland,areasesedat15%;andpublicserviceproperties,excludingland,aretobeasesedat 25%ofairmarketvalue.Fairmarketvalueisdeterminedby theelectedasesoroftheparishonalpropertysubjectto taxationexceptpublicserviceproperties,whicharevaluedby thelouisianataxcomision(lrs47:1957).thecorectnesof asesmentsbytheasesorissubjectoreviewandcertificationbythelouisianataxcomision.theasesorisrequired toreapraisealpropertysubjectotaxationatintervalsof notmorethanfouryears. 25

37 LivingstonParishPresident-Council December31,196 D TheSherifofLivingstonParish,asprovidedbyStateLaw(LRS taxesleviedbythecouncilandspecialdistricts.decembertax colectionsremitedtothecouncilbythesherifinjanuary 3:1435),istheoficialtaxcolectorof!generalproperty arereportedas~advaloremtaxesreceivable." StateLawrequirestheSheriftocolectpropertytaxesinthe calendaryearinwhichtheasesmentismade.propertytaxes bec~nedelinquentjanuary1ofthefolowingyear.iftaxesare notpaidbytheduedate,taxesbearinterestatarateofone andone-fourthpercentpermonthuntilthetaxesarepaid(lrs 47:2101).Afternoticeisgiventothedelinquenttaxpayers, thesherifisrequiredbytheconstitutionofthestateoflou- arenodelinquentaxesatyearend. isianatoseltheleastquantityofpropertynecesarytoset- tlethetaxesandinterestowed(lrs47:2181).therefore,there Alpropertytaxesarerecordedingovernmentalfunds,andas explainedinnotei(d),revenuesingovernmentalfundsarerecognizedintheacountingperiodinwhichtheybecomeavailable andmeasurable.propertytaxesareconsideredmeasurableinthe calendaryearofthetaxlevy.acordingly,thentiretaxrol taxeswhichbasedonpastexperiencewilnotbecolectedin lesanestimateforuncolectibletaxesisrecordedasrevenue thesubsequentyearandareprimarilyduetosubsequentadjustmentstothetaxrol.alofthenetaxesreceivableatthe endoftheyearareconsideredavailable.availablemeansdue, orpastdueandreceivablewithinthecurentperiodorexpected tobecolectedsonenoughthereaftertopayliabilitiesofthe curentperiod.propertytaxesareconsideredavailablebecause theyaresubstantialycolectedbythetaxcolectorwithin 60dayss~)sequentoyearendandarethereforeavailableto inthecurentcalendaryear.uncolectibletaxesarethose liquidateliabilitiesofthecurentperiod. 26

38 NOTRSTOTHEFINANCIALSTATEMENTS(CONTINUED LivingstonParishPresident-Council December31,196 ADVALOREM TOTAL LES:AMOUNTSNETAD DEMEDVALOREMTAXES General COLECTIBLE LES:AMOUNTS COLECTED PRIC~TO YEAREND RECEIVABLE NETAD VALOREM TAXES Special Fund Revenue $178,74$12,512$16,232 $6,53$159,69 DebtService Funds 1,819,76 127,384 ].,692,382 70,41,621,938 Fund Total.$2,09,787$140,685$1,869,102 $76,97$1,792,125 10,48 (5)Receivables- OtherReceivablesasofDecember31,196areasfolows: GENERALREVENUEE~rERPRISE SPECIAL Acounts BingoTaxes FranchiseTaxes $ TouristTaxes Rent 178,124 $6,230 4,616 Royalties 1,734 Other _13, ,579 $ $6,230 4,616 2,619 5, ,124 85,579 1,734 16,489 5,796 TotalOtherReceivables$27,573$15,19$5,796$298,568 27

39 LivingstonParishPresident-Council December31,196 (6)DueFromOtherGovernments-. DuefromOtherGovernmentsasofDecember31,196,consistsof thefolowing: GENERALREVENUESERVICE FUND SPECIAL FUNDS DEBT SherifofLivingston FUNDS TOTAL Twenty-FirstJudicial Parish District $ StateofLouisiana: BerTaxes 78,30 864$16,497$ 1,592 $17,361 LouisianaRevenue ParishTransportation Sharing-First 9,808 79,92 9,808 SeveranceTaxes Instalment VideoPoker OficeofFamily 179,816 2,857 92,6 DepartmentofTransportationandDevelopment Suport 46,124 31,14 179,816 15,523 31,1].4 LivingstonParishRecreationDistrictNo.2 26,948 1,367 46,124 Totals $376,14$141,869 $2,272 26,948 1,367 $520,25 2,27 _2 (7)DueFrom,ToOtherFunds-TransfersIn,TransfersOut- DUEFROM OTHER GeneralFund 9q/NDS DUETO OTHER SpecialRevenueFunds DebtServiceFunds $1.4,950 FUNDS EnterpriseFund 1,232 $ Totals $1.46, ,763 1,419 $146,196 (CO~FINUED) 28

40 LivingstonParishPresident-Council NOTESTOTHEFINANCI;H3STATEMENTS(CONTINUED December31,196 GeneralFund SpecialRevenueFunds: RoadEquipmentandMaintenance Bingo Totals (8)PensionPlans- TRANSFERS IN TRANSFERS OUT $ $20,0 264,0 $264,0 64,0 $264,0 substantialyalemployesofthelivingstonparishpresident- CouncilaremembersoftheParochialEmployesRetirementSystem oflouisiana(system),amultipleemployerpublicemploye retirementsystem(pers),controledandadministeredbyaseparateboardoftrustes.thesystemiscomposedoftwodistinct plans,planaandplanb,withseparateasetsandbenefitprovisions.alemployesofthecouncilaremembersofplanb. FortheyearendedDecember31,196,thetotalpayrolfor employesofthecouncilcoveredbythesystemunderplanbwas $1,38,169;thetotalpayrolforalemployesoftheCouncil was$1,681,50. Alpermanentemployesworkingatleast25hoursperwekwho arepaidwholyorinpartfromcouncilfunds,andalelected CounciloficialsareligibletoparticipateintheSystem. UnderPlanB,employeswhoretireatorafterage60withat leasti0yearsofcreditableservice,oratorafterage5with 30yearsofcreditableservice,areentitledtoaretirement benefit,payablemonthlyforlife,equalto2percentoftheir final-averagesalaryinexcesof$i0foreachyearof creditableservice.furthermore,employeswithatleasti0 yearsofcreditableservice,butlesthat30years,may takeearlyretirementbenefitscomencingatorafterage60, withthebasicbenefitreduced3percentforeachyearetirementprecedesage63.inanycase,monthlyretirementbenefits paidunderplanbcanotexcedtheleserofi0percentof final-averagesalary.final-averagesalaryisthemploye's averagesalaryoverthe36consecutiveorjoinedmonthsthat producethehighestaverage.employeswhoterminatewithat leastheamountofcreditableservicestatedaboveandonot withdrawtheiremployecontributions,mayretireattheages specifiedaboveandreceivethebenefitacruedtotheirdateof termination.thesystemalsoprovidesdeathandisabilitybenefits.benefitsarestablishedbystatestatute. 29

41 NOTESTOTHEFINANCIALSTATEMENTS(CONTINUED LivingstonParishPresident-Council December31,196 ContributionstotheSystemincludeone-fourthofonepercentof thetaxeshowntobecolectiblebythetaxrolsofeachparish,exceptorleansandeastbatonrougeparishes.thesetax dolarsaredividedbetwenplanaandplanbbasedproportionatelyonthesalariesoftheactivemembersofeachplan.state statutere.tiresemployescoveredbyplanbtocontributetwo percentoftheirsalariesinexcesof$i0permonthtothe System. ThefolowingprovidescertaindisclosuresfortheCounciland theretirementsystemthatarerequiredbygasbcodification: PLANB ContributionRates Employes TotalCurentYearPayrol Employer 2.0%* 1.0%* TotalCurentYearCoveredPayrol $1,681,50 PLANB $1,38,169 Contributions: RequiredbyStatue Employes Employer Total $25,216 Actual: $39,098 13,82 Employes Employer $25,216 Total $39,098 13,82 *inexcesof$i0permonth. 30

42 LivingstonParishPresident-Council December31,196 YEARENDED NetAsets PensionBenefitObligation $48,304,460 ExcesAsets $I0,83,90 (37,420,470) The"pensionbenefitobligation"isastandardizedmeasureof thepresentvalueofpensionbenefits,adjustedfortheefects ofprojectedsalaryincreaseandstep-ratedbenefits,estimated tobepayableinthefutureasaresultofemployeserviceto date.themeasure,whichistheactuarialpresentvalueof creditedprojectedbenefits,isintendedtohelpusersases thecouncil'sfundingstatusonagoing-concernbasis,ases progresmadeinacumulatingsuficientasetstopaybenefits whendue,andmakecomparisonsamongpersandemployers.the Systemdoesnotmakeseparatemeasurementsofasetsandpension benefitobligationsforindividualemployers.historicaltrend informationshowingthesystem'sprogresinacumulating suficientasetstopaybenefitswhendueispresentedinthe System'sDecember31,195,comprehensiveanualfinancial report.thesystem'sdecember31,196comprehensiveanual financialreportisnot:availableathedateofthisreport. TheCouncildoesnotguarantethebenefitsgrantedbythe (9)Leases- System. Thefolowingisaschedule,byyears,offutureminimumlease paymentsundercapitaleasestogetherwiththepresentvalueof thenetminimumleasepaymentsasofdecember31, $198, ,45 69,658 TotalMinimumLeasePayments LesAmountRepresentingInterest 424,478 4,87 PresentValueofNetMinimum (3,12) LeasePayments $391,356 TheCouncilhasnomaterialong-term,noncancelableoperating leasecomitmentsatdecember31,

43 LivingstonParishPresident-Counc~l TOTHEFINANCIALSTATEMF.NT~fCON~'T December31,196 (i0)changesingenerallong-termobligations- A.Thefolowingisasumaryof tiontransactionsfortheyearthegenera],long-termobligaendeddecen~er31,196: BALANCE 1/1/96ADITIONSRETIREMENTS12/31/96 BALANCE BondsPayable PavingCertificates ofindebtedxles $1,179,175$ $238,41$940,734 Compensated Payable AbsencesPayable- 32, ,370 54, ,373 ObligationsUnder Net CapitalLeases 58,18 95,23 $2,10,153$302,603 $490, $1,912, ,356 95,23 _12/31/96TOMATURITY PAYABLEREQUIREMENTS DEBT INTEREST TOTAL $57,0-Series1983Bgeneral obligationbondsdueinanual instalmentsof$6,490to $6,053throughAprili,203; interestat8.6%,paidfrom thegeneralfund $183,0-Series1982Bgeneral $31,517 $3.3,183$4,70 obligationbondsdueinanual instalmentsof$23,702to thegeneralfund $21,476throughJune15,202; interestat10.7%,paidfrom 95,217 42, ,014 (CONTINUED) 32

44 LivingstonParishPresident-Council December31,196 _12/31/96 PAYABLE DEBT REQUIREMENTS $320,0-Certificatesof TOMATURITY INTEREST indebtednes,series194,due inanualinstalmentsof$3,925 to$41,545throughjune15, 206;interestat5.57%,paid fromthegeneralfund 280,0 86,35 $890,0RecreationDistrict#I 36,35 GeneralObligationRefunding Bondsdueinanualinstalments of$195,951to$197,71through 4.95%to5.35%,paidfromthe RecreationDistrict#ISinking Septemberi,19;interestat Fu.nd PavinQCertificates TotalBonds 534,0 940,734 _~c.~6,958 19,273 1,140,07 590,958 $40, PetitionPaving plusinteresthroughjulyi, certificatesofindebtednesdue inanualinstalmentsof$4,063 WodsSinkingFund 201;interestfrom8.15%to 8.5%,paidfromtheMagnolia $209, PetitionPaving 20,315 4,967 25,282 plusinteresthroughjanuaryi, certificatesofindebtednesdue 202;interestfrom8.4%to].0.8%, inanualinstalmentsof$13,97 paidfromthepetitionpavingfund41,931 $29, PetitionPaving 7,156 49,087 certificatesofindebtednes dueinanualinstalmentsof $2,93plusinteresthrough Septemberi,20;interestfrom 7.50%to1.0%paidfrom PlantationEstatesSinkingFund 91, , ,342 (COl~rINUED) 3

45 LivingstonParishPresident-Council December31,196 PAYABLE 12/~i/96 DEBT REQUIREMENTS $137, PetitionPaving TOMATURITY certificatesofindebtednesdue INTEREST inanualinstalmentsof$13,754 plusinteresthroughoctoberi, 205;interestfrom5.5%to1.0%, paidfromwedgewodsinkingfund123,786 $136, PetitionPaving 34, ,384 certificatesofindebtednesdue inanualinstalmentsof$13,673 plusinteresthroughoctoberi, 206;interestfrom6.0%to10.0%, paidfromclinedrive/hiltoproad SinkingFund $70, PetitionPaving 136,730 49,58 186,28 certificatesofindebtednesdue inanualinstalmentsof$7,064 plusinteresthroughmayi,206; interestfrom6.0%to10.0%,paid fromsingleacressinkingfund_70,640 Ca/>italLeases TotalPavingCertificates 485, ,964 2_5, ,37 95,954 $72, lease-purchase ofonejohndere670bmotorgraderdueinmonthlyinstalmentsof$1,685for48months; interestat5.5%,paidfrom theroadequipmentand MaintenanceFund $92,90~193lease-purchase 16, ,845 ofonejohndere670bmotorgraderdueinmonthlyinstalmentsof$1,76for60months; interestat5.5%,paidfrom theroadequipmentand MaintenanceFund 36,85 1,975 38,860 (CONTINUED) 34

46 LivingstonParishPresident-Council December31,196 ~12/31/96 PAYABLE DEBT REQUIREMENTS $'72, lease-purchase TOMATURITY INTEREST ofonejohndere670bmotorg~aderdueinmonthlyinstalmentsof$1,685for48months; i~terestat5.5%,paidfrom theroadequipmentand MaintenanceFund $75, lease-purchase 16, ,846 ofonewhelloaderduein monthlyinstalmentsof$1,48 for60months;interestat7.25%, paidfromtheroadequipment aildmaintenancefund $i01,60-194lease-purchase 46,978 5,093 52,071 ofonejohnderemotorgrader ~einmonthlyinstalmentsof $3.,97for60months;interest at6.5%,paidfromtheroad Ec~ipmentandMaintenanceFund $109, lease-purchase 59,602 5,646 65,248 ofonegraderdueinmonthly instalmentsof$2,135for60 months;interestat6.498%, paidfromtheroadequipment ar*dmaintenancefund $3~06,0-194lease-purchase 6,127 6,453 72,580 ofonegradalexcavatorduein monthlyinstalmentsof$2,5].3 for48months;interestat6.498%, paidfromtheroadequipment andmaintenancefund 51,92 3,290 5,282 $I03,0-195lease-purchase of!onegradaldueinmonthly i~stal~entsof$2,46for4s months;interestat6.58%, paidfromtheroadequipment andmaintenancefund 57,09 4,153 61,162 35

47 ]LivingstonParishPresident-Council December31,196 _12/31/96 PAYABLE DEBT REQUIREMENTS TOMATURITY of!onebackhoeloaderduein $48,92-195lease-purchase INTEREST monthlyinstalmentsof$975 EquipmentandMaintenanceFund for60months;interestat 7.492%,paidfromtheRoad $8, lease-purchase 35,18 4,805 39,93 of!onepitneybowescopierdue at$296andthirty-fiveat$40; interestat28.25%,paidfrom inmonthlyinstalmentsofone ResidentialWasteFund TotalCapitalLeases 391,356 4,718 3, ,479 5,592 TotalBonds,Paving Leases CertificatesandCapital $1,817,463$3"71,360$2,18,823 C.Theanualrequirements principalandinterest,are certificates,andcapital leasesoutstanding,including toamortizebonds,paving OBLIGATION GENERAL asfolows: PAVING CA/,ITAL $262,87 BONDSCERTIFICATESLF2~ES TOTAL ThroughMaturity 261, ,483 65,898 64,107 $109,42 103,095 97,25 2, ,087 50,658 7,80 $198, ,45 69,658 4,878 $570, ,71 430, , ,548 14,765 $1,140,07$624,37$424,479$2,18,823 Generalobligationbondsandinteresttotaling$590,958are securedbyananualadvaloremtaxlevy,andthebalanceof $549,049issecuredbythepledgeanddedicationofanual revenues. 36

48 LivingstonParishPresident-Council December31,196 (i)landfilclosureandpostclosurecarecosts- MunicipalSolidWasteLandfil(MSWLF)ClosureandPostclosure CareCostsareacountedforinacordancewithguidelines recomendedbygasbstatementno.18,acountingformunicipal SolidWasteLandfilClosureandPostclosureCareCosts.GASB StatementNO.18statesthataportionoftheestimatedtotal curentcostofmswlfclosureandpostclosurecareisrequired toberecognizedasanexpenseandasaliabilityineachperiod thathemswlfaceptsolidwaste.recognitionshouldbeginon thedatethemswlfbeginsaceptingsolidwaste,continuein eachperiodthatitaceptswaste,andbecompletedbythetime itstopsaceptingwaste.theestimatedtotalcurentcostof closureandpostclosurecareincludesthecostofequipment expectedtobeinstaledandfacilitiesexpectedtobeconstructednearorafterthedatethathewodsidelandfilstops aceptingsolidwasteduringthe30yearpostclosureperiod. Includedinthetotalcurentcostisthecostoffinalcover expectedtobeapliednearorafterthedatethefacilitystops aceptingsolidwaste,andthecostofmonitoringand maintainingtheexpectedusablelandfilareaduringthe postclosureperiod. Thetotalestimatedcurentcostofclosureandpostclosurecare costsforthewodsidelandfilasindicatedinits196permit renewal,is$4,37,750andthetotalestimatedcapacityis 7,20,0cubicyardswithanoriginalprojectedusefulifeof 25years.Theestimatedcostwilbeadjustedonananual basisasdemednecesarytoreflecttheefectsofinflation, changesintechnologyorchangesinaplicablelawsor regulations. 37