SPECIAl,REVENUEFUNDS. EducationConsolidationandImprovementActFunds-Chapter1oftheElementaryand. replace,stateandlocalymandatedactivities.

Transcription

1 SPECIAl,REVENUEFUNDS EducationConsolidationandImprovementActFunds-Chapter1oftheElementaryand SecondaryAct(ESEA)asamendedbyTitle1oftileImproving America'sSchol'sAct(IASA)-isaprogramforeconomicalyand educationalydeprivedscholchildren,whichisfederaly financed,stateadministered,andlocalyoperatedbytheschol Board.Title1servicesareprovidedthroughvariousprojects thataredesignedtometthespecialnedsofeducationaly deprivedchildren.theactivitiesuplement,ratherthan replace,stateandlocalymandatedactivities. providesfundstothescholboardforaudio/visualmaterialand Chapter2ofESEA-isaprogramby~lichthefederalgovernment equipment. ConsolidatedSpecialEducationFundToacountforfourfederalprograms restrictedtoexceptionalchildren. SpecialEducationProgram-PublicLaw94142oftheECIArestrictedenvironmentochildrenwithexceptionalities. IndividualswithDisabilitiesEducationAct(I.D.E.A.)isa federalyfinancedprogramoffreducationintheleast SpecialEducationPre-ScholFlowThrough-Toacountforstate alocatedfederalfundstobeusedindevelopmentalprogramsfor pre-scholchildrentoensuregrowthintheareasofcognitive, motor,social,selfhelpandlanguage. SpecialEducationProgram-PublicLaw89-3]3oftheECIA-isa programfinancedbythestatetobeused~ndevelopmental programsforinfants,ages0-2,andparentsofinfants,toinsure totalgrowthofhandicapedchildren. SpecialEducationChildSearch-toacountforstatealocated federalfundstobeusedtocordinatescreningclinicsandtile evaluationofinfantsandtodlers. ]90SalesTaxFund~toacountforaportionofthesalestaxprocedsusedfor tilepaymentofsalariesand/orotheremployebenefitsof teachersandotherscholboardmembers. acountforlocal,state,andfederalfundsusedtoperateand maintainaprogramthatprovidesnourishingmealstoalstudents atendingscholswithintheparish. 39

2 !1 c~c~o!n~i ~cojl!i!

3 ST.MARTIRPARISHSCHOLBOARD St.Martinvite,LoUisiana Generalfund StatementofRevenues,ExpendituresandChangesinFundBatance- Budget(GAPBasis)andActua[ YearEndedJune30,196 ~ithcon~rativehctua~amountsfortheyearendedjune30,19s Revenuos: Localsources- Taxes:Advatorcm Salesanduse Rentals,teases,androyalties lultlon Interestearnings Other Statesources- Unrestrictedgrants-in-aid Restrictedgrants-in-aid Federalsources- Restrictedgrants-in-aid-subgrants Totalrevenues Expenditures: Instruction- Regutarprograms Specialprograms Adutandcontinuingeducationprograms Suportservices- Studentservices Instructionalstafsuport Generaladlninistration Scholadministration Busineservices Plantservices studentranspertationservices Centralservices CIxn~Jnityserviceprogran~ lotalexpenditures Variance- Favorable195 BudgetActuaI(Unfavorable)Actual $1,383,40 2,275,0 514,20 61,90 25,20 67,30 23,34~,60 1,370,60 $1,378,127 2,29,213 58,389 60,705 28,307 6,671 23,3B2,395 1,43,604 $(5,273) 24,213 4,189 (I,195) 3,107(629) 40,795 73,04 839,0Q812,B4~~) 30,078m2O30j230m25~1570~ ,950,90 4,451,20 1,02,40 1,356,80 1,219,80 4~,80 1,69,30 432,70 3,296,60 2,160,40 246,70 5,0 31~28O,6OQ Deficiencyofrevenuesoverexpenditures (I,202,40) Otherfinancingsources: operatingtransfersin ExcesOfrcvenue~a~Othersources overexpenditures Fundbalance,begining FU~Jbalance,ending 14,760,147 4,4,83 1,068, ,293.4,674 30,941, ,75 6,317 (45,971) 98,670 13,763 (21,961) 2,250 (13,36) 43,093 (70,426) % ~385 $1,294,392 2,50, ,864 54, ,70 58,176 2,3,31g 1,904, ,25 29,704,939 14,935,951 4,678,74 869,93 1,187,14 1,095,371 47~.481 4,181 30,506,92 490,94 (802,053) 2,496,202,489,254~946) 293,801,7,798483,98 3,23,384.3,23,384 $4,527,184$5,01,1B2 38 $483,98 2,580,458 1,7Z8,405 ~1,454,979 $3,~3,384 =~=

4 ASETS ST.MARTINPARISHSCHOLBOARD St.Martinvile,Louisiana GeneralFund ComparativeBalanceShet June30.196and195 Cashandinterest-bearingdeposits Receivables: Taxes Rentals,leases,androyalties Duefromotherfunds Duefromothergovernmentalunits Other Totalasets LIABILITIESANDFUNDBALANCES Liabi]ities: Acountspayab]e Salariesandpayro]1taxespayable Duetotherfunds Glaimspayable Deferedliabilities ContingentIiability Totaliabilities Fundbalances: Fundbalances- Reservedfor: Workerscompensationinsurance Employegrouphealthinsurance Designatedforhealthcenters Unreserved: Undesignated Totalfundbalances Totaliabilitiesandfundbalances $7,782,050$5,185,425 5,156 45, , ,138 _ 4817 $8,705,174 3,693~ ,36,181_ 5_01]j8_82_ 6,594 4,432 1,216,575 i,i19,145 29,202 $7,601,373 $I,i07,287 2,90,i ,0 4,367~ ,319 25,248 89,73 2,7]10_,~9A4 323~38_4 $8,705,174$7,601,373

5 FINANCIALSTATEMENTSOFINDIVIDUALFUNDS 35

6 ST.MARTINPARISHSCHOLBOARD CombinedStatementofRevenues,Expenditures,andChangesinFundBalances St.Martinvile,Louisiana GovernmentalFundType-DebtServiceFunds Budget(GAPBasis)andActual YearEndedJune Revenues: Localsources- Taxes: Interestearnings Advalorem E~penditures: Totalrevenues $1,863,60 1,913,30 49,70 $1,920,40 I~969,535 49,095 Suportservices-general $56,840 56,235 (605) Debtservice- administration Principalretirement Interestandbankcharges Totalexpenditures 1,595,0 6,70 65, Deficiencyofrevenuesover 1,987,40 325,70 1,595,0 1,98,17 327,498 (1,798) Otherfinancingsources: expenditures (7) (18,642) Operatingtransfersin Excesofrevenuesandother 20, Fu1~dbalances,begining sourcesoverexpenditures 146, Fundbalances,ending _1:]143~41],143,41 $1,290,186$1,345,64 $5, Theacompanyingnotesareanintegralpartofthistatement 10

7 INFORMATION 34

8 GENERALFUND Toacountforesourcestraditionalyasociatedwithgovernmentswhichare notrequiredtobeacountedforinanotherfund. 36

9 N~ oi ~Ico o" N o i cl

10 o

11 N~~4 N~ ~Jt~ N~ ~o~ 4~ N~~H o~h~h!l

12 DEBTSERVICEFUNDS DistrictFund-Toacumulatemoniestoretiretheoutstandingparishwidegeneral obligationbonds.thebondisuesarefinancedbyaspecial propertytaxlevyonpropertywithinst.martinparish. SalesTaxRevenueBondFund-toacumulatemoniestoretiretheoutstanding parishwidesalestaxbondisue.thebondisueisfinancedhy aportionofthespecialonepercentsalesandusetax. SalesTaxReserveFund-toacumulatemoniesforthereserverequirementofthe salestaxbondagrement.thereserveist~bemaintainedatan amountequaltothehighestcombinedprincipalandinterest requirementsofaloutstandingsalestaxbondsinanysuceding fiscalyear.atjune30,196therequirementis$153,0. 4

13 ST.MARTINPARISHSCHOLBOARD St.Martinvile.Louisiana CombinedStatementofRevenues,Expenditures,andChangesinFundBalances- Budget(GAPBasis)andActual GovernmentalFundTypes-GeneralandSpecialRevenueFunds YearEndedJune30,196 R~venues: localsourceslaxes:advalorem Salesanduse Rentalsa[eases,ar~J royalties Tuition Interestearnings Other Statesources- Unrestrictedgrantsin-aid Restrictedgrantsin-aid Federalsources- Unrestrictedgrantsin-aid-subgrants ~st~[~tc~dg~antsin-aid-subgrants Totalrevenues Expenditures: l~struct~on Regularprograms Specialprograms Adultandcontinuing educationprograms Suportservices- Studentservices Instructionalstaf suport Generaladministration ScholadministrBtion Susineservices Plantservices St~clentransportation services Fodservices Centralservices Comunityservice programstotalexpenditures Genera[Fund SPecialRevenueFund Variance- Variance- Favorable Favorable Rudg~_t.Actual~nfavora~ BudsetActual(Unfa~ $1,383,40$1,378,127$(5,273)$-$-$- 2,275,02,29,21324,2132,717,02,741,1224,12 514,20 61,90 25, ,341,60 1,370,60 58,389 60,705 28, ,382,395 1,43,604 4,189 (I,195) 3,107(629) 40,795 73,04 96, ,90 510,138 6,90 93, , ,174 6,847 95, ,0812,848(2~2)5,027,962_~87132~ " ,230,259152,0598~879~8~972,379 14,950,9014,760,147190,753 4,451,204,4,~36,3172,741,90 1,02,401,068,371(45,971) 2,160,40 246,70 5o~o0 31,280~60 DB6, ,67,050 46,036 3,253,507 2,230, ,293 4,674 98,670 13,763 (21,961) ,250 (13,36) 43,093 3,037, , o~) Exces(deficiency) ofrevenuesover e~pend~tures ~I,202,40)~56)4~ 3,018,120~059,57941,459

14 ST.MARTINPARISHSCHOLBOARD St.Martinvile.Louiaiana CombinedStatementofRevenueșExpenses,andChangesinRetainedEarnings ProprietaryFundType InternalServiceFunds YearsEndedJune30,196and195 Operatingrevenues: Chargesforservices- Employercontributions Employecontributions Stoplosrecoveries Subrogationrecoveries Totaloperatingrevenues Operatingexpenses: Contractualservices Premiumpayments Claimpayments Totaloperatingexpenses Operating(los)income Nonoperatingrevenue ]Interestearned Net(los)income Retainedearnings(deficit),begining Retainedearnings(deficit),ending $2,819,870 1,634,14 431,405 89,49_3 4,974, , ,650 4,582,268 5,124,893 $3,404,295 1,482,4 348,353 34,934 5,270, , ,956 4,603,894 5,156,320 (149,981)I13,706 9,28 7,728 (140,693)]21,434 ~(32,567)(454,01) $(473,260)$(32,567) Theacompanyingnotesareanintegralpartofthistatement i]

15 CombinedstatementofRevenueșExpenditures,andChangesinFundBa ances* ST.MARTINPARISRSCHOLBOARD Budget(GApBasis)andActual St.Martinvi([e,Louisiana Governg~ntalFundTypes*Genera[andSpecia(RevenueFunds(Continued) YearEndedJune30,196 Otlherfinancingsources (uses): BudgetActual{Unfavorabie~ Variance- Favorabte Operatingtransfersin Budget-Actual_~Unfavorabte) SpeciatRevenueFundsVariance- Favorable Operatingtransfersout Totalotherfinancing Excesofrevenues sources(uses) $2,496,20$2,489,254$(6,946) $-$-$andothersources Fur~balance,begining overexpenditures.2,496,202,489,25-4(6,946).(2,738,895)(2,710,09)28,796 (2,738,895)(2,710~0929)-28,796 andotheruses 1,293,801,7,798483,98 Fur~batances,ending 3,23~3843m23.3~ 1,527= ,25349,48070,25 $4,527,184$5,01,182$483,98$1,806,65$1,876,920$70,25 = = = = ]heacompanyingnotesareanintegratpartofthistatement

16 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile,Louisiana (~4)SubsequentEvents GeneralObligationBonds,Series196datedAugustI,196forthepurposeof constructingandacquiringvariouscholimprovements.thebonds'efective OnAugust],196,theScho]Boardauthorizedtheisuanceof$5,0,0 interestrateis5.52~andtheymaturemarchi,2016. (15)DeficitinIndividualFunds 196BondConstructionCapitalProjectsFundreflectdeficitfundequities. TheInternalServiceFundeficitswilbefundedbytheGeneralFundand/or TheGroupHealthandWorkersCompensationInternalServiceFundsandthe increaseinemployecontributionsandecreaseinbenefitsandthecapita] ProjectFundwilbefundedbytheprocedsofthe$5,0,0General ObligationBondsdatedAugust1,196. 3

17 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana leases,androyaltiesarerecordedwhenearned. Interestincomeontimedepositsandrevenuesfromrentals colectedbythescholboard. Salesandusetaxrevenuesarerecordedinthemonth Expenditures Substantialyalotherevenuesarerecordedwhenreceived. monthemployesalariesareincuredoveranine-monthperiodbut paidoveratwelvemonthperiod. Salariesarerecordedasexpenditureswhenincured.Nine- leaveisactualytakenorwhenemployes(orheirs)arepaidfor acruedleaveuponretirementordeath,whilethecostofearned Compensatedabsencesarerecognizedasexpenditureswhen leaveprivilegesnotrequiringcurentresourcesisrecordedintbe generalong-termdebtacountgroup. expenditureswhenearnedbythecontractor. Comitmentsunderconstructioncontractsarerecognizedas notrecognizeduntildue. Principalandinterest:ongeneralong-termobligationsare modifiedacrualbasisof!acountingwhentherelatedfund liabilityisincured,ifitisexpectedtobepaidwithinthenext Alotherexpendituresaregeneralyrecognizedunderthe twelvemonths.liabilitieswhichwilnotbeliquidatedwith expendableavailablefinancialresourcesarerecordedinthe generalong-termdebtacountgroup. DeferedRevenues thescholboardhasalegalclaimtothem,aswhengrantmonies arereceivedpriortotheincurenceofqualifyingexpendituresor Deferedrevenuesarisewhenresourcesarereceivedbefore whentuitionisreceivedinadvanceofthecomencementofclases. ]nsubsequentperiods,whenthescholboardhasalegalclaimto theresources,theliabilityfordeferedrevenueisremovedfrom thebalanceshetandtherevenueisrecognized. 18

18 ST.MARTINPARISHSCHOLBOARD St.Martinvile,Louisiana DebtServiceFunds WithComparativeTotalsforJune30,195 CombiningBalanceShet June30,196 Revenue SalesTax ASETS DistrictBondReserve 196 Totsls ]95 Cashandinterestbearingdeposits$1,02,21~_]90,423$153,0$],345,64$1,]43,4] Totalasets$1,02,21$190,423$153,0$1,345,64$1,143,41 LIABILITIESANDFUNDBALANCES Liabilities Fundbalances: $ $ $ $ $ Reservedfordebt service Totaliabilities 1,02, ,0],345~641,]43,4] andfund balances $1,02,21$190,423$153,0$1,345,64$1,143,4] 45

19 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana consideredseparatereportingentitiesandisuefinancial statementsseparatefromthatofthescholboard.tileschol Boardisnotacomponentunitofanyotherentityandoesnothave anycomponentunitswhichrequireinclusioninthefinancial C.FundAcountin~ statementsofthescholboard. itsfinancialpositionandtheresultsofitsoperations.fund acountingisdesignedtodemonstratelegalcomplianceandtoaid TheScholBoardusesfundsandacountgroupstoreporton financialmanagementbysegregatingtransactionsrelatedtocertain governmentfunctionsoractivities. setofacounts.anacountgroup,ontheotherhand,isa financialreportingdevicedesignedtoprovideacountabilityfor Afundisaseparateacountingentitywithaself-balancing certainasetsandliabilitiesthatarenotrecordedinthefunds becausetheydonotdirectlyafectnetexpendableavailable financialresources. categories:governmental,proprietaryandfiduciary.each category,inturn,isdividedintoseparate"fundtypes".tilefund FundsoftheScholBoardareclasifiedintothre clasificationsandadescriptionofeachexistingfundtype folows: GovernmentalFundTypes functionsofthescholboardarefinanced.theacquisition,use andbalancesofthescholboard'sexpendablefinancialresources Governmentalfundsarethosethrough~ichmostgovernmental andtherelatedliabilities(excepthoseacountedforinthe proprietaryfund)areacountedforthroughgovernmentalfunds. Themeasurementfocusisbasedupondeterminationofchangesin folowingarethescholboard'sgovernmenta]fundtypes: financialposition,ratherthanuponetincomedetermination.the GeneralFund Board.Itacountsforalfinancialresourcesexceptthose requiredtobeacountedforinotherfunds. TheGeneralFundisthegeneraloperatingfundoftheSchol

20 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana 2.July20.190(1% servicerequirementsonaloutstandingbondspayable fromthepledgeofsaidtax,withtheremaindertobe Thetaxistobeusedforthepaymentofaldebt usedforthepurposeofpayingsalariesandrelated benefitsforprofesionalandparaprofesionalemployes P.StatementofCashF]ows onaseventofiveratio. depositswithamaturityofthremonthsorleswhenpurchasedare Q consideredtobecashequivalents. AdoDtionofCASBStatementNo.27 Forpurposesofthestatementofcashflows,interest-bearing ScholBoardadoptedGASBStatementNo.27,theSt.MartinParish b~stateandlocalgovermlentemployes.althoughthistatement DuringtheyearendedJune30,196 isefectiveforperiodsbeginingafterjune15,197,the Acountln~forPensions GovernmentalAcountingStandardsBoardisencouragingearly R.TotalCol[unsonCombinedStatements-Overview implementation. memorandumonly(overview)toindicatethatheyarepresentedonly tofacilitatefinancialanalysis.datainthesecoltunsdonot Totalcolumnsonthefinancialstatementsarecaptioned presentfinancialpositionoresultsofoperationsinconformity withgeneralyaceptedacountingprinciples.neitherisuch datacomparabletoaconsolidation.interfundeliminationshave S.ComparativeData notbenmadeintheagregationofthisdata. intheacompanyingfinancialstatementsinordertoprovidean understandingofchangesinthescholboard'sfinancialposition Comparativetotaldatafortheprioryearhavebenpresented andoperations.however,comparative(i.e.,presentationofprior yeartotalsbyfundtype)datahavenotbenpresentedineachof thestatementsbecausetheirinclusionwouldmakecertain T.PriorYearRec]asificatio statementsundulycomplexandificultounderstand. enhancecomparabilitywith196reportclasifications. Certainpreviouslyreportedamountshavebenreclasifiedto 23

21 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) SL.Martinvile,Louisiana ofsickleaveachyear.teachersandotherninemonthemployes earntendaysofsickleaveeachyear.sickleavemaybe Altwelvemonthemployesearnfromtwelvetoeightendays acumulated.uponretirementordeathunusedacumulatedsick leaveofuptotwenty-fivedaysispaidtothemployeortothe employe'sestateathemploye'scurentrateofpay.underthe LouisianaTeachersRetirementSystem,thetotalunusedacumulated sickleaveisusedintheretirementbenefitcomputationasearned service.underthblouisianaschol~mployesretirementsystem, alunpaidsickleave,whichexcludesthetwenty-fivedayspaid, isusedinthecomputationofretirementbenefitsasearned service.uponresignation,alsickleaveisforfeited. forprofesionalandculturalimprovement.anyemployewitha teachingcertificateisentitled,subjectoaprovalbytheschol Sabaticaleavemaybegrantedforestandrecuperationand Board,tonesemesterofsabaticaleaveafterthreyearsof continuouserviceortwosemestersofsabaticaleaveaftersix ormoreyearsofcontinuousservice.duetoitsrestrictive nature,sabaticaleavebenefitsarerecordedasanexpenditure intheperiodpaid. Goven~nentalAcountingStandardsBoardofStatementNo.16,ofthe Absencesnoliabilityisrecordedfornonvestingacumulating Inacordancewiththeprovisions rightstoreceivevacationpay.aliabilityhasbenrecordedin Acountin~forCompensated thegeneralong-termdebtacountgroupforupto25daysof acumulatedsickleaveforthosemployeseligibleasofjune30, 196_ acun~ulatedandvested$2,121,451ofcompensatedabsencebenefits, whichisrecordedwithinthegeneralong-termdebtacountgroup AtJune30,196,employesoftheScholBoardhave sincetheyarenotpayablefromexpendableavailablefinancial O.SalesandUseTaxes resources. salesandusetaxes: TheScholBoardisauthorizedandhasleviedthefolowing March (1% thetaxistobeusedforsalariesofteachersandfor thexpensesofoperatingschols,includingpaymentof Afterpayingcolectionandadministrationcosts, otherpersonelinaditiontoteachers. 2

22 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana transactionsandreimbursements,arereportedastransfers.nonrecuringornon-routinepermanentransfersofequityarereported Alotherinterfundtransactions,exceptquasi-external asresidualequitytransfers.alotherinterfundtransfersare M.FixedAsetsandLon~-TermObligations reportedasoperatingtransfers. (generalfixedasets)areacountedforfundtypeoperations asetsacountgroup,ratherthaninthegovernmentalfunds. Fixedasetsusedingovernmental Interestcostsincureduringconstructionisnotcapitalized. inthegeneralfixed Nodepreciationhasbenprovidedongeneralfixedasets. Aproximatelyforty-onepercentofixedasetsarevaluedat actualcost,whiletheremainingfifty-ninepercentarevaluedat estimatedcost. govertunentalfundsareacountedforinthegeneralong-termdebt acountgroup,notinthegover~nentalfunds. Long-termobligationsexpectedtobefinancedfrom fundwhendueorwhenresourceshavebenacumulatedinthedebt servicefundforpaymentearlyinthefolowingyear.forother Long-termdebtisrecognizedasaliabilityofagovernmental long-termobligations,onlythatportionexpectedtobefinanced fromexpendableavailablefinancialresourcesisreportedasafund liabilityofagovernmentalfund.theremainingportionofsuch obligationsisreportedinthegenerallong-termdebtacount group.long-termliabilitiesexpectedtobefinancedfrom proprictaryfundoperationsareacountedforinthosefunds. onlywiththemeasurementoffinancialposition,notwith measurementofresultsofoperations. Thetwoacountgroupsarenotfunds.Theyareconcerned N.ComoensatedAbsences vacationleaveachyear,dependingontheirlengthofservicewith thescholboard.anemployecanotacumulatemorethantwo Altwelvemonthemployesearnfromtentofiftendaysof yearsofearnedvacation.anyexcesislost.employesarepaid forunusedvacation(subjectoatwoyearlimitation)athetime ofresignation. 21

23 ST.MARTINPARISI{SCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana l.short-terminterfundreceivables/pavab]es betwenindividualfundsforgodsprovidedorservicesrendered. Thesereceivablesandpayablesareclasifiedas"duefromother Duringthecourseofoperations,numeroustransactionsocur I.Inventor~ funds"or"duetotherfunds"onthebalanceshet. ofexpendablesupliesandfodpurchasedbythescholboardand comoditiesgrantedbytheunitedstatesdepartmentofagriculture InventoryoftheScholLunchSpecialRevenueFundconsists throu~1thelouisianadepartmentofagricultureandforestry.tile comoditiesarerecordedasrevenueswhenreceived;however,al inventoryitemsarerecordedasexpenseswhenconsumedorused. Alpurchasedinventoryitemsarevaluedathelowerofcost (first-in,flrst-out)ormarket,andcomoditiesareasigned valuesbasedoninformationprovidedbytheunitedstates J.FundEquit~ DepartmentofAgriculture. apropriableforexpenditureorlegalysegregatedforaspecific futureuse.designatedfundbalancesrepresententativeplansfor Reservesrepresentthoseportionsoffundequitynot K.GrantRevenues futureuseofinancialreseurces. reimbursabletypegrants,andrevenuesarerecognizedasearned onlywhenthexpenditurestobereimbursedhavebenincured. Ingeneral,grantsreceivedbytheScholBoardare L.InterfundTransactions expendituresorexpenses, reimbursementstoafundfor Quasi-externaltransactions fromithatareproperlyaplicabletoanotherfund,arerecorded expenditures/expensesinitialymade areacounted Transactionsforasrevenues, thatconstitute asexpenditures/expensesinthereimbursingfundandasreductions ofexpenditures/expensesinthefundthatisreimbursed. 20

24 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martlnvile.Louisiana OtherFinancingSources(Uses) (oranyothertypes,suchascapitaleasetransactions,debt extinguishment,long-termdebtproceds,etcetera)areacounted Transfersbetwenfundsthatarenotexpectedtoberepaid forasotherfinancingsources(uses).theseotherfinancing sources(uses)arerecognizedathetimetheunderlyingevents E.BudEetPractices ocur. eachspecia]revenueanddebtservicefund.budgetsareprepared onamodifiedacrualbasisofacounting.alapropriations TheScholBoardadoptedbudgetsfortheGeneralFundand lapseatyearend,andanyencumbrancesoutstandingareincluded inthenextyear'sbudget.formalbudgetacountsareintegrated intotheacountingsystemasamanagementcontroldevice. authorizedtotransferamountsbetwenbudgetedlineitemswithin anyfund.however,anyunfavorablevariancesofrevenuesor Thesuperintendentofscholsandthedirectorofinanceare expendituresoffivepercentormorewithinafundmustbe presentedtothescholboardforboardactiontoamendfund budgets.budgetedamountsincludedintheacompanyingfjnancia] statementsincludetheoriginaladoptedbudgetsandalsubsequent F.Encumbrances amendments. recordedinordertoreservethatportionoftheaplicable apropriation,isnotemployedbythescholboardasanextension Enc~nbranceacounting,under~icbpurchaseordersare oformalbudgetaryintegrationinthefunds.however,outstanding purchaseordersaretakenintoconsiderationbeforexpenditures areincuredinordertoasurethataplicableapropriationsare G.CashandInterest-Bearin~Deposits notexceded. deposits,timedeposits,andmoneymarketacounts.understate law,thescholboardmaydepositfundsindemandeposits, Cashandinterest-bearingdepositsincludesamountsindemand interest-bearingdemandeposits,moneymarketacounts,ortime depositswithstatebanksorganizedunderlouisianalawand nationalbankshavingprincipaloficesinlouisiana. 19

25 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana (2) CashandInterest-Bearin~Deposits $12,946,04asfolows: AtJune30,196,theScholBoardhascashandcashequivalentstotaling Demandeposits Interest-bearingdeposits Cashwithfiscalagent $29,748 12,725,83 Total $12,946, statelaw,thesedeposits(ortheresultingbankbalances)mustbesecuredby federaldepositinsuranceorthepledgeofsecuritiesownedbythefiscal Thesedepositsarestatedatcost,whichaproximatesmarket.Under agentba~k.themarketvalueofthepledgedsecuritiesplusthefederal depositinsurancemustataltimesequaltheamountondepositwiththe fiscalagent.thesesecuritiesareheldinthenameofthepledgingfiscal agentbankinaholdingorcustodialbankthatismutualyaceptabletoboth parties.thefolowingisasumaryofdepositbalances(bankbalances)at June30,]96,andtherelatedfederalinsuranceandpledgedsecuritiest Bankbalances $]5,397,792 Federalinsurance Pledgedsecurities(Category3) $40,0 $16,676,634 16,276,634 Excesofederalinsuranceandsecuritiespledged $1,278,842 investmentsforwhichthesecuritiesareheldbythebrokerordealer,orby itstrustdepartmentoragent,hutnotinthescholboard'sname.even PledgedsecuritiesinCategory3includesuninsuredorunregistered thoughthepledgedsecuritiesareconsidereduncolateralized(category3) LouisianaRevisedStatute39:129imposesastatutoryrequirementonthe custodialbanktoadvertiseandselthepledgedsecuritieswithini0daysof beingnotifiedbythescholboardthathefiscalagenthasfailedtopay depositedfundsupondemand. 24

26 ST.MART]NPARISHSCHOLBOARD ConfinedStatementofRevenueșExpenditures,andChangesinFundBalances GoverYnenta[FundTypesandFiduciaryFundType(Continued) St*Martinvite,Louisiana YearEndedJu~e _ Genera{RevenueService_._Projects Gover~enta[Fu_nd1~loes SpecialDebtCapital Scho{arship Expendab[e Exces(deficiency) Fiduciary FundType Trust196umOnIy~ ofrevenues 195 Otherfinancingsources (uses): overexpenditures~71,456)~059,579$_(18,642)$(137,3!)$1,34$2,193,484$2,01,924 inoperatingtransfers outtotalother 2,489,254 financing sources. ~2~710,09)20,845 ~I0,09)(2,80,753) 2,710,092,80,753 Exces(deficiency) (uses) ~ (2,710,09)-_20,845 ofrevenues andother sourcesover expenditures Fundbalances, andother uses begir~ning ~3,3841,527,40I~ ~ 349,480202,203(137,31)1,342,193,4842,01,924 Fundbalances ending $5,01,182$1,876,920$1,345,64.23,701~7~ 4,164,080 = $10,707$25,035$8,369,48$6,176,04 = 1heacompanyingnotesareanintegra{partofthistatement

27 ST.MARTINPARISHSCIiOLBOARD NotestoFinancialStatements(Continued) St.Martlnvile,Louisiana focus,onlycurentasetsandcurentliabilitiesgeneralyare includedonthebalanceshet.operatingstatementsofthe governmentalfundsandexpendabletrustfundspresentincreases (i.e.,revenuesandotherfinancingsources)andecreases(i.e., expendituresandotherfinancinguses)inetcurentasets. economicresourcesmeasurementfocus.withthismeasurementfocus, alasetsandaliabilitiesasociatedwiththeoperationof Theproprietaryfundtypeisacountedforonaflowof thisfundtypeareincludedonthebalanceshet. statementsontheacrualbasisofacounting.revenuesare recognizedwhentheyarearned,andexpensesarerecognizedwhen Theproprietaryfundtypeisreportedinthefinancial theyareincured. governmentalfundtypesandexpendabletrustfunds.underthe modifiedacrualbasisofacounting,revenuesarerecognizedwhen Themodifiedacrualbasisofacountingisusedbyal susceptibletoacrual(i.e.,whentheybecomebothmeasurableand available)."measurable"meanstheamountofthetransactioncan bedeterminedand"available"meanscolectiblewithinthecurent periodorsonenoughthereaftertobeusedtopayliabilitiesof thecurentperiod,thefolowingpracticesinrecording~evenues andexpenditureshavebenusedforthegovernmentalfunds. Revenues whichincludestateequalizationandstaterevenuesharing)are recordedwhenavailableandmeasurable.federalandstategrants Federalandstatentitlements(unrestrictedgrants-in-aid, whicharerestrictedastothepurposeofthexpendituresare recordedwhenthereimbursablexpenditureshavebenmade. andpayable.advaloremtaxesareasesedinnovemberbythe ParishAsesorbasedontheasesedvalue,becomedueonDecember Advaloremtaxesarerecordedintheyearthetaxesarcdue 31ofeachyear,andbecomedelinquentonJanuaryi.An enforceablelienatachestothepropertyasofjanuaryi.the taxesaregeneralycolectedindecember,january,andfebruary ofthefiscalyear.propertytaxrevenuesareacruedatfiscal yearendtotheextenthatheyhavebencolectedandare unremitedbythest.martinparishtaxcolector'sofice.such amountsaremeasurableandavailabletofinancecurentoperations. 17

28 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana (3) dvaloremtaxes Thefolowingisasumaryofauthorizedandleviedadvaloremtaxes Parishwidetaxes: Constitutional Milages Specialschol- Scholbonds Maintenance Operationandmaintenance St.MartinParishandarecolectedbytheSherif.Thetaxesareremited tothescholboardnetofdeductionsforpensionfundcontributions. ThetaxesarebasedonasesedvaluedeterminedbytheTaxAsesorof (4) efrom/tootherfu folows: Ascumnaryofamountsduefrom/tootherfundsatJune30,196isas OtherFunds DueFrom GeneralFund SpecialRevenueFunds: EducationConsolidationandImprovementAct $391,431 OtherFunds DueTo AgencyFund: ConsolidatedSpecialEducation ScholLunch CapitalProjectsFund: Scholactivity ]96BondConstruction ] l Total $391,43]$39],431 76,268 25

29 ST.MARTINPARISISGIOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana SpecialRevenueFunds revenuesourcesthatarelegalyrestrictedtoexpendituresfor specifiedpurposes.thesefundsacountfortherevenuesand SpecialRevenuesFundsacountfortheprocedsofspecific expendituresrelatedtofederal,stateandlocalgrantand entitlementprograms. DebtServiceFunds ordinances,areusedtoacountfortheacumulationofresources forand~epaymentofgeneralong-termdebtprincipal,interest, Debt:ServiceFunds,establishedtometrequirementsofbond andrelatedcosts. CapitalProjectsFunds beusedfortheacquisitionorconstructionofmajorcapital facilities(otherthanthosefinancedbytheproprietaryfunds). TheCapitalProjectsFundsacountforfinancialresourcesto ProprietaryFundTve organizationsandactivitieswhicharesimilartothoseoftenfound intheprivatesector.themeasurementfocusisbasedupon ProprietaryFundsareusedtoacountforongoing determinationofnetincome.thefolowingisthescholboard's proprietaryfundtype: InternalServiceFunds acumulationofresourcesforandthepaymentofbenefitsbythe ScholBoard'sgroupself-insuranceandworkerscompensation TheInternalServiceFundsareusedtoacountfortile insuranceprograms. revenuesareplanedtomatch:(i)expensesofinsurancepremiums inexcesofself-insuranceamounts;(2)actualclaimsand Revenuesarederivedfromthemployerandemployes.These estimatedliabilitiesforclaimsincuredbutnotyetreportedat yearend,and(3)operatingexpenses. 15

30 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana (]2) CompensationofBoardMembers yearendedjune30,196folows: Adetailofthecompensationpaidtoindividualboardmembersforthe PaulmaJohnson FloydKnot RodneyLedoux $6,624 RichardPotier CharlesMaraist 7~ JackieTheriot TomyThibodeaux FrederickStely AnthonyWiltz $53, t~ (13) ComitmentsandContingencies A.ContingentLiabilities theopinionofmanagementandlegalcounselforthescholboard,resolution oftheselawsuitswilnotinvolveanymaterialiabi]itytothescholboard AtJune30,196,theScholBoardisinvolvedinseveralawsuits.In inexcesofinsurancecoverage,withthexceptionofonecaseinvolving injuriesofastudentinwhichthescholboard'spotentialiabilityis $i0,0to$25,0acordingtolegalcounsel.managementdoesnotexpecto setlethispotentialcontingencyfromavailablefinancialresources therefore,$15,0isrecordedinthegenerallongtermdebtacountgroup. B.GrantAudit andadjustmentbygrantoragencies.anydisalowedclaims,includingamounts alreadycolected,mayconstitutealiabilityoftheaplicablefunds.the Amountsreceivedoreceivab]efromgrantoragenciesaresubjectoaudit amount,ifany,ofexpenditureswhichmaybedisalowedbythegrantorcanot bedeterminedathistimealthoughthescholboardexpectsuchamounts,if any,tobeimaterial. 32

31 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements St.Martir~ile.Louisiana Introduction RevisedStatute(LSA-R.S.)17:51forthepurposeofprovidingpubliceducationfor tbechildrenwithinst.martinparish.thescholboardisauthorizcdbylsa-r.s. TileSt.MartinParishScholBoard(ScholBoard)wascreatedbyLouisiana IP:5Itoestablishpoliciesandregulationsforitsowngovernmentconsistentwith thelawsofthestateoflouisianandtheregulationsofthelouisianaboardof ElementaryandSecondaryEducation.TheScholBoardiscomprisedofninemembers whoarelectedfromninedistrictsfortermsofouryears. withtheregulareducationalprograms,someofthesescholsoferspecialeducation and/oradulteducationprograms.inadition,thescholboardprovides TheScholBoardoperateseventenscholswithintheparish.1conjunction transportationandscholfodservicesforthestudents. (~)SumaryofSignificantAecountin~Policies A.BasisofPresentatio ParishScholBoardhavebenpreparedinconformitywithgeneraly aceptedacountingprinciples(gap)asapliedtogoven~ental TheacompanyingfinancialstatementsoftheSt.Martin units.thegoven~enta]acountingstandardsboard(gasb)isthe aceptedstandard-setingbodyforestablishinggovernmental B.ReDortin~Entity acountingandfinancialreportingprinciples. alfunds,acountgroups,activities,etcetera,thatarewithin theoversightresponsibilityofthescholboard.becausethe Forfinancialreportingpurposes,theScholBoardincludes ScholBoardmembersareindependentlyelectedandaresolely acountableforfiscalmaters,whichinclude(i)budgetauthority, (2)responsibilityforfundingdeficitsandoperatingdeficiencies, and(3)fiscalmanagementforcontrolingthecolectionand disbursementofunds,andbecauseofthescopeofpublicservice providedbythescholboard,thescholboardisaseparate governmentalreportingentity,primarygovernment. exercisesnooversightresponsibility,suchastheparish government,otherindependentlyelectedparishoficials,and Certainunitsoflocalgovernmentover~ichtheScholBoard municipalitieswithintheparish,areexcludedfromthe acompanyingfinancialstatements.theseunitsofgovernmentare 13

32 ST.MARTINPARISHSCilOLBOARD CombinedStatementofCashFlows St.Martinvile.Louiaiana YearsEndedJune30.196and195 ProprietaryFundType InternalService~nds Cashflowsfromoperatingactivities Operating(los)income Adjustmentstoreconcileoperating(los)income $(149,981)$13,706 tonetcashprovided(used)byoperatingactivities: Decreaseinreceivab]es Decreasesinclaimspayable _(2,574)(318,485) 185,968 14],54 Cashflowsfrominvestingactivities: Netcashprovided(used)byoperatingactivities 3,4]3 (63,235) Interestreceivedoninterestbearingdeposits Cashandcashequivalents,beginingofyear Increase(decrease)incashandcashequivalents -9,28 62,701 7,728 Cashandcashequiva]ents,endofyear $7,892 35,191 (5,507) $35,191 90,698 Theacompanyingnotesareanintegralpartoft:histatement 12

33 (5) ST.MARTINPARISHSCHOLBOARD St.Martinvile.Louisiana NotestoFinancialStatements(Continued) efromotherg (6)FixedAsets (7) Thechangesingeneralfixedasetsareasfolow Buildings and LandImprovements BalanceatJulyI,195$516,703$26,649, Aditions Deletions 630atJune forvarious Furniture and EquipmentTotal 287$8,051,08 823, $35,217, , ] BalanceatJune30,196$516,703$26,649,287$8,568,894$35,734,84 Cha a Thefolowingisasumaryofthelong-termobligationtransactionsfor theyearendedjune30.196: Long-term payable 195 Aditions Deductions Long-term payable ]96 obligations at:julyi, obligations atjune30. CompensatedBondedContingent Absences DebtLiability Total $1,745,9$7,640,0$15,0$9,40, i~595,0 375,452 1,595,0 $2,121,451$6,045,0$15,0$8,181,451 26

34 ST.MARTINPARISISCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana CompensatedAbsences leaveofthegovernmentalfundsthatisnotexpectedtorequirecurent resources.theliabilityforcompensatedabsencesiscomputedonlyathe Compensatedabsencespayableconsistoftheportionofacumulatedsick endofeachfiscalyear;therefore,theincreaseof$375,452reflected previouslyasanaditiontocompensatedabsencesisthenetofleave benefitsacrued. BondedDebt generalobligationscholbondsandparishwidesalestaxscholbondsas folows: ScholBoardbondsoutstandingatJune30,]96consistofparishwide DateofIsue OriginalInterestPayment IsueRates FinalInterest DateMaturityOutstanding to Principal Parishwidegeneral obligationschol bonds: April],194$7,925, /01/0$483,365$5,125,0 $645,573$6,045,0 162~ obligationscholbondsarefundedinacordancewithlouisianalawbyan anualadvaloremtaxlevyontaxablepropertywithintheparish.the Alprincipalandinterestrequirementsontheparishwidegenera] outstandingparishwidesalestaxpublicscholrefundingbondsarefinanced byaportionoftheonepercentsalesandusetaxleviedbythescholboard. AtJune30,196,theScholBoardhasacumulated$1,345,64inthedebt servicefundsforfuturedebtrequirements.thebondsaredueasfolows: NearEndine3une30 Principal Payments Interest Payments $264, , ,98 54,960 Total 7140 $1,919,465 1,932,010 1,586,98 1,034,960 $6,045,0 $645,573 $6,690, ,140 27

35 ST.MARTINPARISISCIOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana (8)PensionPlan multiple-employerpublicemployeretirementsystems(pers),whicharc controledanda~ninisteredbyaseparateboardoftrustes.these EligiblemployesoftheScholBoardparticipateinoneoffour retirementsystemsprovideretirement,disabilityandeathbenefitstoplan membersandtheirbeneficiaries.pertinentinformationrelativetoeachplan folows: A.LouisianaTeachers'RetirementSystemofLouisiana-Regular anualcoveredsalarytothesystemwhilethescholboardis requiredtocontributethestatutoryrateof16.5percentofthe Planmembersarerequiredtocontribute8.0percentoftheir totalanualcoveredsalary.thescholboard'stotal contributionstothesystemfortheyearsendedjune30,196,195 and194were$4,645,102,$4,401,269and$4,37,]73,respectively, equaltotherequiredcontributionsforeachyear. statementsandrequiredsuplementalfinancialinformationmaybe obtainedbywritingtothelouisianateachers'retirementsystem, Apubliclyavailablefinancialreporthatincludesfinancial B.LouisianaTeachers'RetirementSystemofI.ouisiana-PlanA P.O.Box94123,BatonRouge,Louisiana anualcoveredsalarytothesystemwhilethescholboardis requiredtocontributethestatutoryrateof16.5percentofthe Planmembersarerequiredtocontribute9.1percentoftheir totalanualcoveredsalary.thescholboard'stotal contributionstothesystemfortheyearsendedjune30,196and 195and194were$138,713,$146,731and$161,645,respectively, equaltotherequiredcontributionforeachyear. statementsandrequiredsuplementalfinancialinformationmaybe obtainedbywritingtothelouisianateachers'retirementsystem, Apubliclyavailablefinancialreporthatincludesfinancial C.ParochialEmployes'RetirementSystem P.O.Box94123,BatonRouge,Louisiana anualcoveredsalarytothesystemwhilethescholboardis requiredtocontributethestatutoryrateof8.0percentofthe Planmembersarerequiredtocontribute9.5percentoftheir totalcoveredsalaryfromjuly,195throughdecember,195and 7.25percentofthetotalsalaryfromJanuary,196toJune,196. TheScholBoard'stotalcontributionstothesystemfortheyears endedjune30,196,195and194were$1,134,$2,34and$3,57, respectively,equaltotherequiredcontributionforeachyear. 28

36 ST.MARTINPARISHSCHOLBOARD St.Martinvile.Louisiana NotestoFinancialStatements(Continued) Apubliclyavailablefinancialreporthatincludesfinancial statementsandrequiredsuplementalfinancialinformationmaybe obtainedbywritingtotheparochialemployes'retirementsystem, P.O.Box14619,BatonRouge,Louisiana ]9. D.LouisianaScholEmnlove'sRetirementSystem Planmembersarerequiredtocontribute6.35percentoftheir anualcoveredsalarytothesystemwhilethescholboardis requiredtocontributethestatutoryrateof6.0percentofthe totalanualcoveredsalary.thescholboard'stotal contributionstothesystemfortheyearsendedjune30,196,195 and]94were$236,757,$2,351and$232,36,respectively,equal totherequiredcontributionforeachyear. Ap~]iclyavailablefinancialreporthatincludesfinancial statementsandrequiredsuplementalfinancialinformationmaybe obtainedbywritingtothelouisianascholemployeretirement System,P.O.Box4516,BatonRouge,Louisiana (9)~lan~inA~en~eposltsDueOthers Asu~mnaryofchangesinagencyfundepositsdueothersfolows BalanceatJune schol Activity Fund $635,9 1,202,136 1,16,09 $ (I0)ExcesofExpendituresoverAmproDrJations galestax Fund Total $391,037 5,543,491 5,o7~ $863,302 Thefolowingindividualfundhastotalactualexpenditures apropriationsfortheyearendedjune30,196asfo]ows: Budget Actual $1,027,036 6,745,627 6, $i,535,38 Unfavorable Variance SpecialRevenueFund: EducationConsolidationand Improvement.Act $2,249,40$2,287,039$37,639 29

37 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana (l)self-insuranceandpostretirementbenefits A.Workers'ComDensatio programforworkers'compensation.thescholboardhiredse]f InsuranceAdministrators,Inc.asadministratorforthisprogram. TheScholBoardhasestablishedalimitedriskmanagement Duringfiscalyear196,atotalof$12,890wasincuredin benefitsandadministrativecosts.thescholboardpurchases comercia]insuranceforindividualclaimsinexcesof$20,0. Incuredbutnotpaidclaimshavebenacruedasaliabilityin B.CrouDSe]f-Insurane theworkerscompensationfund. programforgrouphospitalizationinsurance.thisplanprovides employehealthbenefitsuptoa$i,0,0inalifetimemaximum TheScholBoardalsoestablishedalimitedriskmanagement withananual$i0,0restoration.thescholboardpurchases comercialinsuranceforindividualclaimsinexcesof$75,0. DuringthefiscalyearendedJune30,196,severalsetledclaims excededthecomercialcoverageintheamountof$431,405. participateintheprogramandmakepaymentstothese]f-lnsurance Fundbasedonamountsnededtopaypriorandcurentyearclaims. TileGeneralandSpecialRevenueFundsoftheScholBoard Theclaimsliabilityof$746,36reportedinthefundatJune30, 196,isbasedonthelosthatisprobabletohavebenathe dateofthefinancialstatementsandtheamountofthelosthat canbereasonablyestimated.thescholboardcurent]ydoesnot discountitsclaimsliabilities. haddeficitretainedearningsbalancesof$413,051and60,209, respectively.thefundbalanceofthegeneralfundhasben AtJune30,196,GroupHealthandWorkers'CompensationFunds C.ReconciliationofClaimsLiabilities reserw~dtocoverthesedeficits. managementprogramsareasfo]lows: Changesintheclaimsliabi]ityamountsfortherisk 30

38 ST.MARTINPARISHSCHOLBOARD NotestoFinancialStatements(Continued) St.Martinvile.Louisiana BeginingofClaimsandPaymentsBalanceat FiscalYearChangesin Benefit LiabilityEstimatesClaimsYear-End and Fiscal Workers' compensation: ]93-194$ ] ,481 $72,7$17,296$5, ,630142,767129, Grouphospitalization ] , , ,07,601 4,387, ,284, ,946, ,196wasobtainedfrominformationprovidedbythethirdparty Claimspayableof$6,639forworkers'compensationatJune 50 administrator,adjustedforclaimspaidoutsubsequentojune30, wasdeterminedasfolows: Ċlaimspayableforgrouphospitalizationof$746,36atJune ClaimsincuredpriortoJune30,196 andpaidsubsequently ajune30,196claimpaymentchecks held $]6,36 Amount July31,196 Paidasof 2August31,196 30,175 ClaimsincuredpriortoJune30,196 95,92396,097 andunpaidatseptember],196- Provisionforclaimsincuredbutnot PendingclaimsatAugust31,196 ]15,697 reported Totalclaimspayable $746,36 68,206 wascalculatedutilizinghistoricalinformation. Theprovisionforclaimsincuredbutnotreportedof$68,206

39 ST.MARTINPARISHSCHOLBOAKD NotestoFinancialStatements(Continued) St.Martlnvile,Louisiana FiduciaryFundTypes parties,includingothergovernments,oronbehalfofotherfunds withinthescholboard.thefolowingarethescholboard's Fiduciaryfundsacountforasetsheldonbehalfofoutside fiduciaryfundtypes: ExpendableTrustFund samemanerasgovernmentalfunds.theresources,includingboth principalandrevenuesearnedonthatprincipalmaybexpendedfor Thexpendabletrustfundisacountedforinesentialytile purposesdesignatedbythetrustagrement(e.g.,donations receivedforspecificexpendablepurposes). AgencyFunds acustodialcapacity(i.e.,asetsequaliabilities)andonot involvemeasurementofoperations. AgencyfundsacountforasetsheldbytheScholBoardin AcountGroups acountabilityforthescholboard'sgeneralfixedasetsan generalong-termdebt.tileacountgroupsarenotfunds.the Acountgroupsareusedtoestablishacountingcontrolan withmeasurementofresultsofoperations. areconcernedonlywiththemeasurementofinancialposition,no GeneralFixedAsetsAcountGroup (generalfixedasets)areacountedforinthegeneralfixed asetsacountgroup. Fixedasetsusedilgover~nentalfundtypeoperations GeneralLong-TermDebtAcountGroup fundsisacountedforinthegeneralong-termdebtacountgroup. Long-termdebt:expectedtobefinancedfromgowernmenta] D.BasisofAcountin~ afundisdeterminedbyitsmeasurementfocus.algovernmental fundsandexpendabletrustfundsareacountedforusingacurent Theacountingandfinancialreportingtreatmentapliedto financialresourcesmeasurementfocus.withthismeasurement

40 INTERNALCONTROL.COMPLIANCE AND OTHERGRANTINFORMATION 60

41 ]NDEPENDENTAUDITOR'SREPORT TABLEOFCONTENTS GENERALPURPOSEFINANCIALSTATEMENTS (COMBINEDSTATEMENTS-OVERVIEW) Combinedbalanceshet-alfundtypesandacountgroups GovernmentalFundTypesandFiduciaryFundType: Combinedstatementofrevenues,expenditures, andchangesinfundbalances Combinedstatementofrevenues,expenditures, andchangesinfundbalances-budget(gap basis)andactual- GeneralandSpecialRevenueFunds DebtServiceFunds Combinedstatementofrevenues,expensesandchangesin retainedearnings-proprietaryfundtype-internal servicefunds Combinedstatementofcashflows-proprietaryfundtype internalservicefunds Notestofinancialstatements S~PI~MENTALINFORMATION FINANCIALSTATEMENTSOFINDIVIDUAl.]~NDS GeneralFund: Comparativebalanceshet Statementofrevenues,expendituresandchangesin fundbalance-budget(gapbasis)andactual SpecialRevenueFunds: Combiningbalanceshet Combiningstatementofrevenues,expenditures,and changesinfundbalances Combiningstatementofrevenues,expenditures andchangesinfundbalances-budget(gap basis)andactual DebtServiceFunds: Combiningbalanceshet Combiningstatementofrevenues,expenditures,and changesinfundbalances Combiningstatementofrevenues,expendituresand changesinfundbalances-budget(gapbasis) andactual Page ] ~7 8-9 i

42 DARNAL.SIKES,KOLDER.FREDERICK&RAINEY La,y~,~cs.CPA CBurtonKoMer.r;pA ~ETI~,~O Da.nyPEedecCPA Bhr,sRainey,CPA EugeneHD~nal,BPA190 ~a.,o.edarna~cpa EugEneHOa/nalIlLCPA Rus~lJfChamp~tgn~CPA Victor~,st~,e~,t:PA ConradOChapman,CPA PaulaDB~hm,CPA Ch#sl,neLCous,lCPA KalhlecnTDamaihCPA JenrlefB;~le~lef,CPA $1ephenRDi~hlerMBACPA (ACORPORATIONI)rC[RTIFIEDPUBLICACOUNTANTS) MANAGEMENTLETER Mr.RolandChevalier,Superintendent andmembersofthest.martinparishscholboard St.Martinvile,Louisiana Centlemen 125RuePcaore{~ard Lafayelt~.IA70508 (3J8)2323}2 1201Br~shearAvenue Suite3m MorganCly,LA70380 (504)384= %VCotlonStfel vepaleia70586 (318) EaSlBridgeStret Br~uxBridgeIA70517 (318} PeleMegret Abevil~[A B)S~3B~ ELaurerAvenue Eumce,LA70535 (31B)457A)46 g01macafthurdrlve bul)~ln~i Alexarldrl~LA7~301 OurauditofthegeneralpurposefinancialstatementsoftheSt.Martin ParishScholBoardasofandfortheyearendedJune30,196revealedacertain areainwhichimprovementsintheacountingsystemandfinancialpracticesof thescholboardmaybedesirable.1~eefolowingrecomendationwasincludedin ourmanagementleterfortheprioryearbutismentionedagainforemphasis: Considerationshouldbegiventoincreasingthemonthly insurancepremiumchargedand/ordecreasingemployebenefits receivedfromgrouphospitalizationinsuranceinorderto eliminatetheacumulatedeficitoverareasonableperiodof time. Wewouldlketoexpresourapreciationtoyouandyouroficestafor thecourtesiesandasistancerenderedtousduringtheperformanceofouraudit. Shouldyouhaveanyquestionsornedasistanceinimplementingour recomendations,pleasefelfretocontactus. BzeauxBridge,Louisiana November Darnal,Sikes,Kofder,Frederick&Rainey ACorporationofCertifiedPublicAcountants MEMBr~OF A'~ERtCANtNSlU1JO} CERTIFIEDPUBLICACOU~IAEFT$ socieiyoflouisiana BEB~IEI[DPUBL%~ABCOU~h~,q$

43 ,4~U OFICIAL DONOTSB'NDOUT FILECOPY (XeroxleC~S.~fy COpiesfro[lthis COpyandPL/kC[ RACKinFil:) ST.MARTINPARISHSCHOLBOARD St.Martinvile,Louisiana YearEndedJune FinancialReport jnclerprovisionsofstatelaw,~h~s reportisapublicdocument,a copyofthereporthasl~.ensubmittedtotheaudited,oreviewed, entityandotherapropriatepublic oficials.th("reporlisavailablefor publicinspec;:ionatilebaton RougeoficeoftheLegislativeAuditorand,whereapropriate,atlhe oficeoftheparishclerkofcourt. ~elease DEC?8196

44 BudgetActual(Unfavorable) Variance- Favorable B_udget Actual~Unfavorable) Variance- Favorable $ $-$- $I,863,60 1,913,30 49,70 $I,920,40 1,969,535 49,095 $56,840(605) 1,595,0 6,7065,679 1,987,40 325, , ,98,17 327,498 (74,10)(18,642)5,458 20,84520,845 $153,0$153,0$- 153,0153,0 1,143,41 146,745 $I,290,186 = $I,345,64 1,143,41 202,203 = $5,458= 48

45 ST.MARTIWPARISHSCHOLBOARD St.Martinvi Le,Louisiana Combinedgtateow~ntofRevenues,Expenditures,endChangesinFundBalances AlGovernmentalFundlypesandFiduciaryFundType YearEndedJune30,196 GovernmentalFundTyPe S~CiBL~ebtC~p~tBL GeneralRevenueServiceProjects $- 2,741,12 I09,65 346,270 Unrestricted grants-in-aid23,382,395510,174 Restricted Federalsources- Unrestrictedgrantsin-aid-su~rants 95,050 Restrictedgrants-in aid-subgrants81~ 5~060,871 Totalrevenues~30,2598~69 Expenditures: Instruction- Regularprograr~s14,760,147 Specialprograms4,4,~32,7B,42 Adultandcontinulng educationprograms1,068,371 SupFortservices* StLK~entservices1,258,130 Instructionalstaf charges Totalexpenditures $I,920,40$ , ,6791,590 1,67,050 46,036 3,253,507 2,230, ,674 3,595,g~0 145,946 30,941~715_5~810,4201~_9~17_147~536 Fiduciary fundtype scholarship E~pendable Trust Totals andumon~ $-$3,298,567$3,082,143 5,040,355,273,052 1, ,389 60, , ,892,569 1,450, ,86/, 54, , ,490 2,870,456 1,910,762-5~8T ,o8~40.090,28~ 14,760,14714,935, ,93 2,401,260,5301,190,179 1,086,0371,095,371 1,67,050 46,036 3,253,507 2,230,826 3,031, ,293 1,629, ,653 2,86,B9 2,075,739 3,07B, ,6744, ,946 ~,595,~0~~,50~, ,403~890, (continued)

46 ST.MARTINPARISHSCHOLBOARD St.Martinvile,Louisiana CapitalProjectsFunds WithComparativeTotalsforJune30,195 CombiningBalanceShet June30,196 _Fund BuildingConstruction 196Bond Fund 196 Totals 195 Cashandinterestbearingdeposits $206,53$ $206,53$248,038 ASETS LIABILITIESANDFUNDBALANCES Liabilities: Acountspayable Duetotherfunds Totaliabilities $5, $14,517 76, $19,58 76,268 Fundbalances(deficit): Unreserved,undesignated _201,492 (90,785)I0,707248,038 $ Totalabi]ities andfundbalances $206,53$ $206,53$248,038 50

47 ST.MARTINPARISHSCHOLBOARD St.Martlnvile,Louisiana CombiningStatementofRevenues,Expenditures,andChangesinFundBalances CapitalProjectsFunds WithComparativeTotalsforYearEndedJune30,195 YearEndedJune30,196 BuildingConstruction Fund 196Bond Fund 196 Totals Revenues: 195 l~calsources- Expenditures: Interestearnings $10.205$ $I0,205$9,489 Suportservices- Facilitiesacquisition Generaladministration andconstruction Totalexpenditures 56, ,161 Exces(deficiency) 90, ofrevenuesover Fundbalances,begining expenditures (46,546)(90,785) (137,31) ,429 Fumdbalances(deficit), ending $201,492$(90,785)$10,707$248,038 51