O?~,~.?~/,i:?57. VilageofRosedale,Louisiana. YearendedDecember31,202. AnualFinancialStatements

Transcription

1 VilageofRosedale,Louisiana AnualFinancialStatements YearendedDecember31,202 O?~,~.?~/,i:?57

2 VilageofRosedale,Louisiana YearendedDecember31,202 AnualFinancialStatements TableofContents Exhibit Page INDEPENDENTAUDITOR'SREPORT ONFINANCIALSTATEMENTS REPORTONCOMPLIANCEANDONINTERNALCONTROL OVERFINANCIALREPORTINGBASEDONANAUDITOF FINANCIALSTATEMENTSPERFORMEDINACORDANCEWITH GOVERNMENTAUDITINGSTANDARDS 2-3 GENERALPURPOSEFINANCIALSTATEMENTS CombinedBalanceShet-Alfundtypesandacountgroups A 4-5 CombinedStatementofRevenues,Expenditures,andChangesin CombinedStatementofRevenues,Expenditures,andChangesin FundBalances-Algovernmentalfandtypes FundBalances-BudgetandActual- GeneralandSpecialRevenueFundTypes 7-8 StatementofRevenues,Expenses,andChangesinRetained Earnings-ProprietaryFundTypes-EnterpriseFund- StatementofCashFlows-ProprietaryFundTypes- WaterSystem D EnterpriseFund-WaterSystem 10 NotestotheFinancialStatements 1-23

3 VilageofRosedale,Louisiana YearendedDecember31,202 AnualFinancialStatements TableofContents SUPLEMENTARYINFORMATIONSCHEDULES ScheduleofPerdiemandPaidtoMayorandBoardMembers ScheduleofRevenues,ExpendituresandChangesinFundBalance- ScheduleofRevenues,ExpendituresandChangesinFundBalance- GeneralFund-BudgetandActual SpecialRevenueFund-FireProtection-BudgetandActual- 28 ScheduleofAuditFindings-CurentYear 29 ScheduleofAuditFindings-PriorYear 30

4 CertifiedPublicAcountant W.KathlenBeard 10191BuecheRd.-Erwinvile,LA70729 (25) FAX(25) TotheHonorableMayorand VilageofRosedale,Louisiana MembersoftheBoardofAldermen INDEPENDENTAUDITOR'SREPORT IhaveauditedtheacompanyingeneralpurposefinancialstatementsoftheVilageofRosedale,Louisiana, asofandfortheyearendeddecenther31,202,aslistedinthetableofcontents.thesegeneralpurpose financialstatementsaretheresponsibilityofthevilage'smanagement.myresponsibilityistoexpresan opiniononthesegeneralpurposefinancialstatementsbasedonmyaudit. IconductedmyanditinacordancewithauditingstandardsgeneralyaceptedintheUnitedStatesof America,andthestandardsaplicabletofinancialauditscontainedinGovernmentAuditingStandards,isued bythecomptrolergeneraloftheunitedstates.thosestandardsrequirethatiplanandperformtheaudito obtainreasonableasuranceaboutwhetherthegeneralpurposefinancialstatementsarefreofmaterial mistatement.anauditincludesexamining,onatestbasis,evidencesuportingtheamountsandisclosures inthegeneralpurposefinancialstatements.anauditalsoincludesasesingtheacountingprinciplesused andsignificantestimatesmadebymanagement,aswelasevaluatingtheoveralgeneralpurposefinancial statementpresentation.ibelievethatmyauditprovidesareasonablebasisformyopinion. Inmyopinion,thegeneralpurposefinancialstatementsreferedtoabovepresentfairly,inalmaterial respects,thefinancialpositionofthevilageofrosedale,louisianasofdecember31,202,andtheresults ofitsoperationsmadthecashflowsofitsproprietaryfundfortheyearthenendedinconformitywith acountingprinciplesgeneralyaceptedintheunitedstatesofamerica. InacordancewithGovernmentAuditingStandards,IhavealsoisuedmyreportdatedJune19,203onmy considerationofthevilageofrosedale'sinternalcontroloverfinancialreportingandmytestsofits compliancewithcertainprovisionsoflaws,regulations,contractsandgrants.thatreportisanintegralpartof anauditperformedinacordancewithgovernmentauditingstandardsandshouldbereadinconjunction withthisreportinconsideringtheresultsofmyaudit. Myauditwasmadeforthepurposeoforminganopiniononthegeneralpurposefinancialstatementstaken asawhole.theacompanyingfinancialinformationlistedasuportingschedulesinthetableofcontentsis presentedforpurposesofaditionalanalysisandisnotarequiredpartofthegeneralpurposcfinancial statementsofthevilageofrosedale,louisiana.suchinformationhasbensubjectedtotheauditing proceduresapliedintheauditofthegeneralpurposefinancialstatementsand,inmyopinion,isfairly presentedinalmaterialrespectsinrelationtothegeneralpurposefinancialstatementstakenasawhole. W,KathlenBeard,CPA June19,203

5 CertifiedPublicAcountant W.KathlenBeard 10191BuecheRd.-Erwinvile,LA70729 REPORTONCOMPLIANCEANDONINTERNALCONTROL (25) FAX(25) FINANCIALSTATEMENTSPERFORMEDINACORDANCEWITH OVERFINANCIALREPORTINGBASEDONANAUDITOF GOVERNMENTAUDIT1NGSTANDARDS TotheHonorableMayorand VilageofRosedale,Louisiana MembersoftheBoardofAldermen Ihaveauditedthegeneralpurposef'mancialstatementsoftileVilageofRosedale,Louisiana,asofand fortheyearendeddecember31,202,andhaveisuedmyreporthereondatedjune19,203.ihave conductedmyauditinacordancewithauditingstandardsgeneralyaceptedintheunitedstatesof AmericandthestandardsaplicabletofinancialauditscontainedinGovernmentAuditingStandards, isuedbythecomptrolergeneraloftheunitedstates. Compliance AspartofobtainingreasonableasuranceaboutwhethertheVilageofRosedale,Louisiana'sgeneral purposefinancialstatementsarefreofmaterialmistatement,iperformedtestsofitscompliancewith certainprovisionsoflaws,regulations,contractsandgrants,noncompliancewithwhichcouldhavea directandmaterialefectonthedeterminationofinancialstatementamounts.however,providingan opiniononcompliancewiththoseprovisionswasnotanobjectiveofmyauditand,acordingly,idonot expresuchanopinion.theresultsofmytestsdisclosednoinstancesofnoncompliance,butdid discloseilegalactsthatarerequiredtobereportedundergovernmentauditingstandardswhichare describedintheacompanyingscheduleofauditfindingsasitem InternalControlOverFinancialRet~ortin~ Inplaningandperformingmyaudit,IconsideredtheVilageofRosedale,Louisiana'sinternalcontrol overfinancialreportinginordertodeterminemyauditingproceduresforthepurposeofexpresingmy opiniononthegeneralpurposefinancialstatementsandnotoprovideasuranceontheinternalcontrol overfinancialreporting.myconsiderationoftheinternalcontroloverfinancialreportingwouldnot necesarilydisclosealmatersintheinternalcontroloverfinancialreportingthatmightbematerial weakneses.amaterialweaknesisaconditioninwhichthedesignoroperationofoneormoreofthe internalcontrolcomponentsdoesnotreducetoarelativelylowleveltheriskthatmistatementsin amountsthatwouldbematerialinrelationtothegeneralpurposefinancialstatementsbeingauditedmay ocurandnotbedetectedwithinatimelyperiodbyemployesinthenormalcourseofperformingtheir

6 asignedfunctions.inotednomatersinvolvingtheinternalcontroloverfinancialreportingandits operationthaticonsidertobematerialweakneseṣ W.KathlenBeard CertifiedPublicAcountant June19,203

7 GENERALPURPOSEFINANCIALSTATEMENTS

8 VilageofRosedale,Louisiana CombinedBalanceShet AlFundTypesandAcountGroups December31,202 WithComparativeTotalsfor201(Restated) ASETS: General FireProtectionLCDBG -Revenue--Projects- Special Capital Cashandcashequivalents- Receivables- Cashonhandandinbanks InvestmentsinLAMP $60,191 Salestaxes 87,417 $39,238 Franchisetaxes Duefromotherfunds Acountsreceivable-customers 16,425 65,385 5,92000 $4300 Duefromothergovernmentalunits Othereceivables-employes 3, Grantfundsreceivable 5,624 0 O Prepaidexpenses Generalfixedasets 43,245 Fixedasets(net) Otherasets Amountobeprovidedforcapitaleasepayments Amountobeprovidedforcompensatedabsences 3,600 $17, , ,50 $139,403 $78,25 0 LIABILITIES: Acountspayable Acruedliabilities Duetotherfunds $5,354 Retainagepayable Contractpayable 2,8190 $6,258 $0 CapitalLeasePayable Liabilitiesforcompensatedabsences 13,6900 FUNDEQUITY: TotalLiabilities 8,451 28, , ,294 35,376 36,00 78,25 ContributedCapital(net) investmentingeneralfixedasets RetainedEarnings FundBalances- TotalFundEquity Unreserved 146, TotalLiabilitiesandFundEquity $17,20 146, $139, $78,25 0 Theacompanyingnotestothefinancialstatementsareanintegralpartofthistatement.

9 ExhibitA Proprietary FundTypes WaterSystem -Enterprise- General A~.countsGrouns _Asets Fixed Long-Term General Debt Restated 0ZEAL $6,236 94,15 $0 $0 $106, $47,374 6, , tl 3,837 59, , ,490 5,624 14, ,60 6,453 5, ,623,6810 O00O000 43,2450 3,493 2,623,681 $ ,652 14, ,50 2,145,612 91, ,094 13, ,461 18,845 $2,623,681 =2 =~ $3,36,19 = $2,932, =~=~=~ $369 5,0 361 $oo $00 $1,981 3, o 62,652 3, ,0 5,624 $32,398 91,512 5,464 14,461 5,985 12,25 84,074 6,453 18, , , , ,623,6810 2,623, ,709 0 $251,185 $2,623, $6, ,145, , , $3.36, $2,932,014 ~=~=

10 VilageofRosedale,Louisiana CombinedStatement~fRevenue%ExpendituresandChangesin FundBalance-AlGovernmentZdFundTypes F=z~hibitB YearendedDecember3t,202 WithComparativeTotalsfor201Restated REVENUES: Taxesandlicenses FireProtection Revenue Special Pro ects Capital Intergovementalrevenue Chargesforservices $346,739 ~CDBG Restated Finesandforfeitures FEMAGrant 20,9476,62 LCDBGrant 18,815 $10,9320O $0.O0 $451,671 20,947 Interestincome 0 O Donations Miscelaneous LocalGranteContribution 2,851O 0 18,815O 6,62 $379,2838,0576, ,740 19,819 20,089 EXPENDITURES: Totalrevenues 3,260 1,02028O 274,740O0O 8,468 3,8730 3, , ,208 78,429612,91 8, ,3538,20402,17~9,61 Curent- Generalgovernmen Capitaloutlay Publicsafety Debtservice Publicworks 121,06 87,732 37,693 ExcesRevenuesOver(Under Totalexpenditures 185, ,65299,4 3, , ,0 478,070 87,732 79,345 3,976 82,535 80,41 13, , , ,208 80, ,083 3,976 OTHERFINANCINGSOURCES(USES) Expenditures (38,603) 26,910 (1,693)37,908 Operatingtransfersin Operatingtransfers(eut) 0 ExcesRevenuesandOtherFinancing TotalOtherFinancingSources(Uses (12,845) 12,845) 5,46 5, (12,845 5,46 (7,380 2,040 (8,940 (6,90) SourcesOver(Under)Expenditures andotherfinancing(uses} FUNDBALANCE: (51,48) 32,375 O (19,073) 31,08 BeginingofYear ResidualEquityTransferIn-EnterpriseFund ResidualEquityTransferOut-EnterpriseFund ~95,54 Residua~EquityTransferOut-CapitalProjects 0 EndofYear $146,906 (50) O(50) 245,606 (8,286) 2,579(40) = $104,027 $0 $250,93$270,506 TheacompanyingnotestotheIinanciaistatementsaleanintegralpartofthis[a[en]enL

11 VilageofRosedale,Louisiana StatementofRevenues,ExpendituresandChangesinFundBalance Budget-Actual GeneralandSpecialRevenueFundTypes YearendedDecember31,202 WithComparativeTotalsfor201 n~_np.ralfund REVENUE: Revised Variance Taxesandlicenses Intergovernmentalrevenue Chargesforservices $295,70 B_udaet Actual(Uj~avorable) Favorable Actual Fines&Forfeitures 21,0 Federalgrant-FEMA 6,50 $340,739 20,947 Interestincome Miscelaneous 16,00 3,50 EXPENDITURES: Totalrevenues ,8150 6,62 $45,039(53)12 $287, ,057 6,346 2,851 3,26 2,8150(649) (734) 19,6190 6, ,179 Curent- Generalgovernment Capitaloutlay Publicsafety Debtservice Publicworks 128,90 92,30 40,80 Totalexpenditures 194,0 121,0 87,732 37,693 4,598 3, , ,418g 7, , ,535 32,791 89, ,152 ExcesRevenuesOver(Under)Expenditures (109,30)(38,603)70, OTHERFINANCINGSOURCES(USES) 13,01 ProcedsofCapitalLease Operatingtransfersin Operatingtransfers(out) 0 TotalOtherFinancingSources(Uses) (12,845) ExcesRevenuesandOtherFinancingSourcesOver (14,40)(12,845) 1,5 (8,940) FUNDBALANCES: (Under)ExpendituresandOtherFinancing(Uses)(123,730)(51,48)72,282 4,061 BeginingofYear ResidualEquityTransferIn-WaterSystem ResidualEquityTransferOut-WaterSystem 98,854 ResidualEquityTransferOut-CapitalProjects 0(5O0 98, ,901 EndofYear (5O 2,579 (8,286) (4O) $74,624$146,906$72,282$198,854 Theacompanyingnotestothefinancialstatementsareanintegralpartofthistatement.

12 Actual(Unfavorable) Favorable Variance Actual 201 $10,932 $ ,028$15, ,982 13, , , , , (2,252)0 (1,94) 0 27,620 26, (4,196) ,219 5, ,46O , , ,652 $92,276 0 = $104,027 =$1, $71.652

13 VilageofRosedale,Louisiana StatementofRevenues,ExpensesandChangesin RetainedEarnings-ProprietaryFund YearendedDecember31,202 WithComparativeTotalsfor201 OPERATINGREVENUES Watersales Conection/reconectionfes Miscelaneousincome TotalOperatingRevenue OPERATINGEXPENSES Salariesandrelatedbenefits Curentusedinpumping Depreciation Maintenanceofpumpingequipment Maintenanceoflinesandhydrants Supliesandsmaltols Oficesupliesandpostage Insurance Profesionalfes Computerservices Salestax Other TotalOperatingExpense OperatingIncome(Los) NON-OPERATINGREVENUES(EXPENSES) Interestrevenue TotalNonoperatingRevenues(Expenses) NetIncome(Los)beforeoperatingtransfers OPERATINGTRANSFERSIN/(OUT) Generalfund CaptialProjects-LCDBG NetIncome(Los) Depreciationonfixedasetsacquiredbycontributions ncrease(decrease)inretainedearnings RETAINEDEARNINGS Beginingofyear EndofYear ExhibitD 202 $40,392 2, $40,58 2, ,439 7,080 2,745 2,768 2, O 1,21 1,689 1, , ,960 6,90 2,937 2,768 1,828 6, , , , (3,325) , ,379 (7,968) ,124 (1,202) 6,90 (1,375) 4, , ,035 $47,746 $3,173 =~ = Theacompanyngnotestothefinancialstatementsareanintegralpartofthistatement

14 VilageofRosedale,Louisiana StatementofCashFlows-ProprietaryFundTypes YearendedDecember ExhibitE WithComparativeTotalsfor201 CASHFLOWSFROMOPERATINGACTIVITIES Cashreceivedfromcustomers Cashpaymentsforgodsandservices Cashpaymentsforsalaries $42, (13,718) CASHFLOWSFROMNONCAPITALFINANCINGACTIVITIES NetCashProvidedby(Usedfor)OperatingActivities (7,080) $42, (19,868) 21,279 (6,90) Operatingsubsidytransfersfromgeneralfund LoanfromGeneralFund LoanrepaymentstoGeneralFund 7,379 5,0 CASHFLOWSFROMCAPITALANDRELATEDFINANCINGACTIVITIES NetCashProvidedby(Usedfor)Noncapitalfinancingactivities (956) 6, Acquisitionandconstructionofcapitalasets ResidualequitytransfersfromGeneralFund ResidualequitytransferstoGenera~Fund ResidualequitytransferstoCapitalProjectsFund(LCDBG) 0 LoantoCapitalProjectsFund(LCDBG) O 16,180) LoanrepaymentsfromCapitalProjectsFund(LCDBG) ProcedsfromRuralDevelopmentGrant (7,968)0 (2.579) (1,375) 40 3,927O (3,927)0 NetCashProvidedby(Usedfor)CepitalandRelatedFinancingActivities (4,041) 15.0 CASHFLOWSFROMINVESTINGACTIVITIES (8,61) InterestonInvestments NCREASE(DECREASE)INCASH NetCashProvidedby(Usedfor)InvestingActivities CASHANDCASHEQUIVALENTS.BEGINING 29, CASHANDCASHEQUIVALENTS,ENDING t7,465 RECONCILIATIONOFOPERATINGINCOMETONETCASH $10,351 $70, PROVIDEDBY(USEDFOR)OPERATINGACTIVITIES Operatingincome(los) Adjustmentstoreconcileoperatingincometonetcash providedby(usedfor)operatingactivities: $14 ($3,325) Depreciation NetChangesinAsetsandLiabi]i[;~.s- (Increase)decreaseinacountsreceivable-customers 2,768 (Increase)decreaseinNSFreceivable Increase(decrease)inacountspayable (897) 2,768 ]ncrease(decrease)inacruedliabilities 0 (576) Totaladjustments 21,265 (540)(6) (2,810)38 52 NetCashprovidedby(usedfor)operatingactivities Theacompanyingnotestothefinancialstatementsareanintegralpartofthistatement. $21,279 19,472 ~=~ $16,146 10

15 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 Introduction TheVilageofRosedalewasincorporatedAugust2,195,undertheprovisionsofTitle3,Chapter2,Part 1,oftheLouisianaRevisedStatutes(LawrasonAct-ActNo.36of1898).The"Vilage"operatesundera Mayor-BoardofAldermenformofgovernmentandprovidesthefolowingservicesasauthorizedbyits charter:publicsafety(policeandfire),highwaysandstrets,sanitation,recreation,publicimprovements, andgeneraladministrativeservices. TheacountingandreportingpracticesoftheVilageofRosedale,Louisianaconformtogeneralyacepted acountingprinciplesasaplicabletogovernmentalunits.suchacountingandreportingproceduresalso conformtotherequirementsoflouisianarevisedstatute24:517andtotheguidesetforthinthelouisiana GovernmentalAuditGuideandtotheindustryaudit,AuditsofStateandLocalGovernmentalUnits publishedbytheamericaninstituteofceltifiedpublicacountants.asalowedinsectionp80ofgasb's CodificationofGovernmentalAcountingandFinancialReportingStandards,theVilagehaselectednoto ProcedureisuedafterNovember30,1989.TheVilageofRosedalehasnotadoptedtheprovisionsof aplytoitsproprietaryactivitiesfinancialacountingstandardsboardstatementsandinterpretations, AcountingPrinciplesBoardOpinions,andAcountingResearchBuletinsoftheConLmiteofAcounting GASB34. 1.SumaryofSignificantAcountingPolicies A.ReportingEntity TheVilage'scombinedfinancialstatementsincludetheacountsofalVilageoperations.The criteriaforincludingorganizationsascomponentunitswithinthevilage'sreportingentity,aset forthinsection210ofgasb'scodificationofgovernmentalacountin~andfinancialreporting Standards,includewhether: -theorganizationislegalyseparate(cansueandbesuedintheirowname) -thevilageholdsthecorporatepowersoftheorganization -thevilageapointsavotingmajorityoftheorganization'sboard -thevilageisabletoimposeitswilontheorganization -theorganizationhasthepotentialtoimposeafinancialbenefit/burdenonthevilage -thereisfiscaldependencybytheorganizationonthevilage Basedontheaforementionedcriteria,theVilageofRosedalehasnocomponentunits 1

16 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 1.SumaryofSignificantAcountingPolicies(Continued) B.BasisofPresentation TheacountsoftheVilageareorganizedonthebasisofundsoracountgroups,eachofwhichis consideredtobeaseparateacountingentity.thetransactionsofeachfundoracountgroupare sumarizedbyprovidingaseparatesetofself-balancingacountswhichincludeitsasets,liabilities, fundequity,revenuesandexpenditures/expenses.fundsareorderedintotwomajorcategories: governmentalandproprietary.fundswithineachmajorcategoryaregroupedbyfundtypeinthe combinedfinancialstatements.thefundsandacountgroupsusedbythevilageareshownasfolows GovernmentalFundsTypes:GovernmentalFundsarethosethroughwhichgeneralgovernmental functionsofthevilagearefinanced.theacquisition,useandbalancesofthevilage'sexpendable financialresourcesandtherelatedliabilities(excepthoseacountedforinproprietaryfunds)are acountedforthroughgovenamentalfunds.thefolowingarethevilage'sgovernmentalfund types GeneralFund-TheGeneralFundisthemainoperatingfundoftheVilage.Itisusedtoacountfor alfinancialresourcesnotacountedforinotherfunds.algeneraltaxrevenuesandothereceipts thatarenotrestrictedbylaworcontractualagrementosomeotherfundareacountedforinthis fund.generaloperatingexpenditures,fixedchargesandcapitalimprovementcoststhatarenotpaid throughotherfundsarepaidfromthegeneralfund. SpecialRevenueFund-TheSpecialRevenueFundisusedtoacountfortheprocedsofspecific revenueresources(otherthanasesments,expendabletrustsormajorcapitalprojects)thatare legalyrestrictedtoexpendituresforspecificpurposes. CapitalProjectsFund-TheCapitalProjectsFundisusedtoacountfortheacquisitionor constructionofcapitalfacilities(otherthanthosefinancedbyproprietaryfunds)beingfinanced fromgrantsortransfersfromotherfunds. ProprietaryFundTypes:ProprietaryFundsareacountedforonaflowofeconomicresources measurementfocus.theacountingobjectivesareadeterminationofnetincome,financialposition andchangesincashflow.alasetsandliabilitiesasociatedwithaproprietaryfund'sactivitiesare includedonitsbalanceshet.proprietaryfundequityisegregatedintocontributedcapitaland retainedearnings.thefolowingarethevilage'sproprietaryfunds: EnterpriseFund-UsedtoacountforOperationsthatarefinancedandoperatedinamanersimilar toprivatebusinesenterpriseswherethecosts(expenses,includingdepreciation)ofprovidingwater servicestothegeneralpubliconacontinuingbasisarefinmacedthroughusercharges.

17 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 1,SumaryofSignificantAcountingPolicies(Continued) C.Measurementfocus/BasisofAcounting Measurementfocusreferstowhatisbeingmeasured;basisofacountingrcferstowhenrevenues andexpendituresarerecogn~izedintheacountsandrcportedinthefinancialstatements.basisof acountingrelatestothetimingofthemeasurementmade,regardlesofthemeasurementfocus aplied. AlGoverm~entalFundTypes(General,SpecialRevenueandCapitalProjectsFunds)useacurent financiairesourcesmeasurementfocusandarcacountedforusingthemodifiedacrualbasisof acounting.underthemodifiedacrualbasisofacounting,revenuesarerecognizedwhen susceptibletoacrual;i.e.,whentheybecomebothmeasurableandavailable."measurablc"means theamountofthetransactioncan'bedeterminedand"available"metalscolectiblewithinthecurent periodorsonenoughthereaftertobeusedtopayliabilitiesofthecurentperiod.expendituresarc recordedwheutherelatedfiredliabilityisincured.revenuesusceptibletoacrualaresalesand franchisetaxes,chargesforservices,andintergovenentalrevenues.salestaxescolectedmidheld bytheparishatyearendonbehalfofthegovernmentarealsorecognizedasrevenue.alother GovenmaentalFundTyperevenuesarerecognizedwhenreceived. TheProprietaryFundTypesareacountedforonaneconomicresourcesrueasurementfocususing theacrualbasisofacounting.revenuesarerecordedwhentheym'earned.expensesarc recordedathetimeliabilitiesareincured. D.BudgetsandBudgetaryAcounting TheVilagefolowstheseproceduresinestablishingthebudgetarydatareflectedinthesefinancial statements: i.aproposedbudgetispreparedmadsubmitedtothemayorandboardofaldermenpriortothe beginingofeachfiscalyea.theproposedbudgetispublishedintheoficialjournalandmade availableforpublicinspection.apublichearingiscaledtobtaintaxpayerconunants. 2.Thebudgetisadoptedthroughpasageraordinancepriortocomencemantofthefiscalyear forwhichthebudgetisbeingadopted. 3.Budgetat2~amendmentsinvolvingthetransferofundsfromonedepartment,programorfunction toanotherorinvolvingincreasesinexpendituresresultingfromrevenuesexcedingamounts e~timatedrequireaprovalfi'0nltheboard0faklermen.

18 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 1.SumaryofSignificantAcountingPolicies(Continued) D.BudgetsandBudgetaryAcounting(Continued) 4.BudgetsfortheGeneralandSpecialRevenueFundsareadoptedonaGAPbasis,therefore, thesefundsutilizethesamebasisofacountingforbothbudgetarypurposesandactualresults. TheCombinedStatementofRevenues,ExpendituresandChangesinFundBalance-Budgetand Actual-forpresentsacomparisonofbudgetarydatandactualresultsofoperationsforwhich budgetsarelegalyadopted.captialprojectsfundsarebudgetedoverthelifeoftheprojectand notonananualbasis,thereforebudgetarydataforthisfundhasnotbenpresentedinthe acompanyingfinancialstatements. 5.Albudgetaryapropriationslapseathendofeachfiscalyear E.FundChangesandTransactionsBetwenFunds 6.Thelevelofbudgetarycontrolistotalapropriations Legalyauthorizedtransfersaretreatedasoperatingtransfersandareincludedintheresultsof operationsofbothgovernmentalandproprietaryfunds.advancesbetwenfundswhichare expectedtoberepaidareclasifiedasthecurentreceivable/liabilities,"dueto/fromotherfunds" TheVilagealocatestotheSpecialRevenueandEnterpriseFundsapercentageofsalariesand wagesandrelatedcostsofpersormelwhoperformservicesforthefiredepartmentandwater SystembutwerepaidthroughtheGeneralFund. DuringtheyearendingDecember31,202,theVilagealocated$12,845insalariesandrelated fringebenefitsandotheroperatingexpensestothosefunds.thespecialrevenueandenterprise Fundalocationswereclasifiedas"OperatingTransfersIn-GeneralFund. F.Encumbrances EncumbranceacountingisnotemployedbytheVilageofRosedale

19 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 1.SumaryofSignificantAcountingPolicies(Continued) G.Investments StatestatutesauthorizetheVilageofRosedaletoinvestinUnitedStatesbonds,treasurynotesand bils,orcertificatesortimedepositsofstatebanksorganizedunderlouisianalawandnationalbanks havingprincipaloficesinlouisiana.inadition,localgovernmentsinlouisianareauthorizedto investinthelouisianaasetmanagementpol,inc.(lamp),anon-profitcorporationformedbyan initiativeofthestatetreasurerandorganizedunderthestatelawsofthestateoflouisiana,which operatesalocalgovernmentinvestmentpol.investmentsarestatedatcost. H.AcountsReceivable Badebtsarechargedtoperationsintheyearinwhichtheacountisdeterminedtmcolectible.If thereservemethodofacountingforuncolectibleacountswereused,itwouldnothaveamaterial efectonthefinancialstatements. I.Property,PlantandEquipment GeneralFixedAsetsAcountGroups.'FixedasetsusedinGovernmentalFundTypeoperations areacountedforinthegeneralfixedasetacountgroup,ratherthaningovernmentalfunds. Publicdomain("infrastructure")generalfixedasetsincludingroads,bridges,curbsandguters, stretsandsidewalks,drainagesystemsandlightingsystemsarecapitalizedalongwithothergeneral fixedasetsforeportingpurposes.nodepreciationhasbenprovidedonanyoftheremaining asets.interesthasalsonotbencapitalizedonfixedasetsinthegovernmentalfundtype operations.alfixedasetsarevaluedathistoricalcostorestimatedhistoricalcostifactual historicalisnotavailable.donatedasetsarevaluedatheirfairmarketvalueothedatedonated. Proprietar7FundTypes:Property,plantandequipmentownedbytheProprietaryFundsarerecorded atcostor,ifcontributedproperty,atheirfairmarketvalueathetimeofcontribution.repairsand maintenancearerecordedasexpenses;renewalsandbetermentsarecapitalized.interesthasnot bencapitalizeduringtheconstructionperiodonproperty,plantandequipmentintheproprietary fund. Depreciationhasbencalculatedoneachclasofdepreciablepropertyusingthestraight-line method.estimatedusefulivesareasfolows: WaterSystem/Improvements Equipment 20years 5years

20 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 I.SumaryofSignificantAcountingPolicies(Continued) J.StatementofCashFlows ForpurposesoftheStatementofCashFlows,theProprietaryFundconsiderscashbalancesabove thedaytodaynedsandfundsetasideforportfoliostrategyreasonsinvestedindemandeposits, certificatesofdeposit,obligationsoftheu.s.treasury,federalagencies,oru.s.government instrumentalitieswithoriginalmaturitiesofg0daysorlestobecashequivalents.investmentsin LouisianaAsetManagementPol(LAMP)arealsoconsideredcashequivalents.LAMPasetsare restrictedtomaturitiesof90daysorles,atbalanceshetdate. K.CompensatedAbsences EmployesoftheVilagearnpersonaleave(vacationorsickleave)atvariousratesdepending nponlengthofemployment.themaximumleavetimewhichmaybeacumulatedisanamount equaltothenumberofdayswhichcanbearnedbythemployeduringatwenty-fourmonth period.employeswhoresignoretire,orwhoaredismisedfromemploymentshalnotbepaidfor acruedleave. Compensatoryleavemaybearnedbyaful-timemployeandbythemunicipalclerkatimeand one-halforovertimeworkandforworkrequiredonanobservedholidaywheneverthemployeor clerkisnotpaidcompensationforsuchwork.anyemployewhoacruestwohundredfortyhours ofcompensatoryleaveshal,foranyaditionalovertimehoursorwork,bepaidovertime compensationatimeandone-halfrate.uponseparation,eachemployeshalbepaidthevalueof hisacruedcompensatoryleaveinalumpsum. L.ComparativeData Comparativetotaldatafortheprioryearhasbenpresentedintheacompanyingfinancial statementsinordertoprovideanunderstandingofchangesinthevilage'sfinancialpositionand operations.however,comparative(i.e.,presentationofprioryeartotalsbyfundtype)datahasnot benpresentedineachofthestatements,sincetheirinclusionwouldmakethestatementsunduly complexandificultoread. M.TotalColumnsonCombinedStatements-Overview TotalcolumnsonthestatementsarecaptionedMemorandumOnlytoindicatethatheyarepresented onlytofacilitatefinancialanalysis.datainthesecolumnsdonotpresentfinancialpositionoresults ofoperationsinconformitywithgeneralyaceptedacountingprinciplesandisnotcomparabletoa consolidation,lnterftmdeliminationshavenotbenladeintheagregationoflhisdata.

21 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 2.Deposits(Cash)andInvestments Cash(deposits)iscomprisedofdemandepositsinbanks.AtyearendthebokbalanceoftheVilage's depositstotaled$105,94andthebankbalancewas$14,840whichwasinsured~omriskbyfederal depositinsuranceintheamountof$10,430andtheremainingbalanceof$14,410wasecuredby depositcolateralconsistingofpledgedsecuritieshavingamarketvalueof$10,0,heldinthefiscal agentbank'sname(riskcategory3).cashalsoincludespetycashof$10. InvestmentsheldatDecember31,202include$246,918investedintheLouisianaAsetManagement Pol,Inc.(LAMP)(seSumaryofSigalificantAcountingPolicies).InacordancewithGASB CodificationSectionI50.165,theinvestmentinLAMPatisnotcategorizedinthethreriskcategories providedbygasbcodificationsectioni50.164becausetheinvestmentisinthepolofundsmad thereforenotevidencedbysecuritiesthatexistinphysicalorbokentryform.thelampportfolio includesonlysecuritiesandotherobligationsinwhichlocalgovernmentsareauthorizedtoinvest. Acordingly,LAMPinvestmentsarerestrictedtosecuritiesisued,guaranted,orbackedbytheU.S. Treasury,theU.S.governmentoroneofitsagencies,aswelasrepurchaseagrementscolateralizedby thosesecurities.lampisuesapubliclyavailablefinancialreporthatincludedfinancialstatements andrequiredsuplementaryinformationformpers.thereportmaybeobtainedbycaling IntergovernmentalRevenueandReceivables Amountsduefromothergovernmentalunitsconsistofthefolowing: GeneralFund- BertaxesduefromtheStateofLouisiana HighwayMaintenancefIomLADept.ofTransportation $151 3,49 $3,60 Intergovernmentalrevenueconsistsofthefolowing: GeneralFund-LouisianaBerTax LouisianaHighwaySafetyComision LouisianaComisiononLawEnforcement $1,053 Governor'sOficeofRuralDevelopment 1,50971 StateFireInsuranceRebate 15,0 2,423 $20,947

22 NotestotheFinancialStatements VilageofRosedale,Louisiana December31,202 4,FixedAsets Asumaryofthegeneralfixedasetgroupisasfolows Balance 01/01/02 Aditions Deletions Balance LandBuildings Improvementsother $172,36 Equipment Constructioninprogres-LCDBG thanbuildings 512,65 509,927 $09, , , ,348 $00 $172,36 12/31/02 52,304 23,65 $2,145,612$478, , , ,34 $2,623, ,42 Asumaryofproprietaryfundtypeproperty,plantandequipmentatDecember31,202folows EnterpriseFund-WaterSystem Waterwelt Tanks,mainsandequipment $50,0 40,280 Les:Acumulatedepreciation 490,280 Netproperty,plantandequipment (345,953) $14,327

23 VilageofRosedale,Louisiana NotestotheFinancialStatements December31,202 5.InterfundTransactions InterfundreceivablesandpayablesatDecember31,202areasfolows GeneralFund: SpecialRevenue-FireProtection CapitalProjects-LCDBG EnterpriseFund-Water SpecialRevenue-FireProtection: GeneralFund CapitalProjects-LCDBG: GeneralFund EnterpriseFund-WaterSystem EnterpriseFund-WaterSystem: GeneralFund CapitalProjects-LCDBG InterfimdtransfersIn/(Out)aredetailedasfolows OperatingTransfers: Salaries Operatingexpense Interfund Receivable $ ,0 Interfund Payable ,0 $5,624$5,624 Special GeneralRevenue Fund Fire ($12,546)$5,46 (29) ($12,845)$5,46 ResidualEquityTransfers: LocalGranteContribution(50) Capital Projects LCDBG 8,468 ($50)$0$8,468 Enterprise Fund- WaterSystem $7, $7,379 (7,968) ($7,968)

24 truckwithapurchasepriceof$180,914througha5yearlease taling$10, %.Theanualminimumleasepaymentsarescheduled PrincipalPayment 204 $28, ,474 32,17 Total $91,512 7.PensionPlans MunicioalEmoloves'RetirementSystem- PlanDescriptionSubstantialyaloftheVilageofRosedale'sfultimemployesparticipateinthe MunicipalEmployes'RetirementSystemCMERS")-Plan"A",acostsharingmultiple-employer definedbenefitpensionplanadministeredbythelouisianamunicipalemploye'sretirementsystem. AlVilageful-timemployesareligibletoparticipateintheSystem.Employeswhoretireator afterage5with30yearsofcreditedserviceandatorafter60with10yearsofcreditedserviceare entitledtoaretirementbenefit,payablemonthlyforlife,equalto3%oftheirfinalcompensationfor eachyearofcreditableservice.finalcompensationisthemploye'saveragehighestcompensationfor 36consecutivemonths.Benefitsfulyvestonreaching10years&service.Vestedemployesmay retirebeforeage60andreceivereducedretirementbenefits.thesystemalsoprovidesdeathand disabilitybenefits.benefitsarestablishedbystatestatute.themunicipalemployes'retirement Systemisuesapubliclyavailablefinancialreporthatincludesfinancialstatementsandrequired suplementaryinfomlationformers.thereportmaybeobtainedbycaling FundingPolicyThepayrolforemployescoveredbytheSystemfortheyearendedDecember31,202 was$51,3;thevilage'stotalpayrolwas$134,653.coveredemployesarerequiredbystatestatute tocontribute9.25%oftheirsalarytothesystem.thevilageisrequiredbythesamestatuteto contribute7%(januarythroughjune)and8%(julythroughdecember)ofthemploye'seligible compensationquarterlytothesystem.thecontributionrequirementfortheyearendeddecember31, 202w,~s58,58whichconsisledof53,810fi'omtheVilagead54,748fi'omemployes. 20

25 VilageofRosedate,Louisiana NotestotheFinancialStatements December31,202 7.PensionPlans(Continued) MunicipalPoliceEmnloves'RetirementSystem- PlanDescriptionThepolicechiefoftheVilageofRosedaleisamemberoftheMunicipalPolice Employes'RetirementSystem(MPERS),acostsharingmultiple-employerpublicemployeretirement system.benefitprovisionsareauthorizedwithinact189of1973andamendedbylrs1:21- years,ifhehas25yearsofcreditableserviceatanyageorhas20yearsofcreditableserviceandisage 1:23.Anymemberiseligiblefornorma/retirementafterhehasbenamemberoftheSystemfor2 50orhas12yearscreditableserviceandisage5.Benefitsratesare3I/3%ofaveragefinal compensationpernumberofyearsofcreditableservicenotoexced10%ofinalsalary.theplanalso providesfordisabilitybenefitscalculateda3%ofaveragefinalcompensationmultipliedbyearsof creditableservice,butnotlesthanfortypercentnormorethansixtypercentofaveragefinal compensation.themunicipalpoliceemployes'retirementsystemisuesapubliclyavailable financialreporthatincludesfinancialstatementsandrequiredsuplementaryinformationformpers. Thereportmaybeobtainedbycaling FundingPolicyThepayrolforemployescoveredbytheSystemfortheyearendedDecember31,202 was$8,820,thevilage'stotalpayrolwas$134,653.coveredemployesarerequiredbystatestatuteto contribute7.5%oftheirsalarytotheplan.thevilageisrequiredbythesamestatutetocontributethe remainingamountsnecesarytopaybenefitswhendue.thecontributionrequirementfortheyearended December31,202was$1,45,whichconsistedof$794fromtheVilageand$61fromemployes; thesecontributionsrepresent9%and7.5%ofcoveredpayrolrespectively. 8.RiskManagement TheVilagepurchasescomercialinsurancetoprotectagainstriskoflosintheseareas:workers' compensationliability,generaliability,lawenforcementliability,publicoficialserorsandomisions, 9.ContingentLiabilities automobileliabilityandphysicaldamagecoverageandpropertyfirecoverage. TheVilageparticipatesincertainfederalandstateasistedgrantprograms.Theseprogramsaresubject toprogramcomplianceauditsbythegrantorsortheirepresentatives.anyliabilityforeimbursement whichmayariseastheresultoftheseauditsisnotbelievedtobematerial.

26 VilageofRosedale,Louisiana NotestotheFinancialStatements December31, ConstructionComitments TheVilageofRosedalewasgrantedaLouisianaComunityDevelopmentBlockGrantintheamount of$472,69.thepurposeofthegrantistoimprovethexistingwatersystemincludinganew40gpm waterwel,anew750galonpresuretankand8inchwatermainsandhydrantsnecesarytoconect theneweltothexistingdistributionsystem. TheVilagenteredintoconstructionandengineringcontractstotaling$48,461,ofwhich10%isto befinancedwithgrantfunds.asaconditionofthegranțthevilageagredtopayaladministrative costsrelatedtotheprojectandcertainpre-agrementcostsconsistingofengineringfesforproject plansandspecifications.administrativefesfortheprojectamounto$26,0,ofwhich$15,750has benpaidasofdecember3i, ContributedCapital TheVilageofRosedaleEnterpriseFund-WaterSystemreportscontributedcapitalfromvarious sourcesdetailedasfolows: Municipality FederalGrants StateGrants Les:Amortization $386,253 $57, ,023 30,0 NetCont~qbutedCapital$197,709 (359.56) 12.EconomicDependence TheVilageofRosedalereceives76%ofitstotalrevenuefromparishsalestax.Procedsofthe2/3% salesandusetaxarededicatedtobeusedbythevilagetopaythecostofcapitaloutlayprojects,to services.procedsofthe2/3%saiesandusetaxarededicatedforfireprotectionforthevilage. maintainandoperatepublicfacilities,toadministerlocalgovernmentșandtoprovideotherlawful

27 VilageofRosedale,Louisiana NotestotheFinancialStatements December31, FederalandStateGrants TheVilageofRosedalexpendedfederalandstatefundsunderthefolowingrantsduringtheyear endeddecember31,202: FederalGrants: GrantName AgencyName CFDA# Funds Expended ComunityDevelopment BlockGrant U.S.Dept.ofHousing &Development $274,740 TotalFederalGrants $274,740 StateGrants: LARuralDevelopmentGrant GrantName AgencyName Funds GovernorsOficeofRural Expended LawEnforcementEquipment Development Safe&SoberCampaign La.Comisionon $15,0 La.HighwaySafety LawEnforcement 971 Comision 14.RestatementofPriorYearTotals TotalStateGrants $17, Prioryeartotalshavebencorectedtoreflectheunderstatementofrevenueandtheomisionof"Other Asets"intheamountof$14,461intheCapitalProjectFund-LCDBG.Thisacrualwasrequiredasa resultoftheacrualofretainagepayabledueonconstructionscontracts.consequently,prioryear endingfundbalanceiscorectlyrestatedto$0.

28 SUPLEMENTARYINFORMATIONSCHEDULES

29 VilageofRosedale,Louisiana ScheduleofPerDiemandPaidtotheMayorandBoardMembers YearendedDecember31,202 Schedule1 Mayor- LawrenceJ.Badeaux MembersoftheBoardofAldermen- KevinGant RandelJ.Badeaux ChrisBayham PhilipFaveroth,Jr $6,0O Total 2,4010 2,30 $13,20 24

30 VilageofRoedale,Louisiana ScheduleofRevenues,ExpendituresandChangesInFundBalance GeneralFund.BudgetandActual YearendedDecember Revenues: Salestaxaportionments Utilitiesfranchisetax CableTVfranchisetax Ocupationalicenses Statebertax LALawEr~orcemertUHighwaySafetyGrants LARuralDevelopmentGrant Statefireinsurancerebate HighwayMaintenance Traficviolations/fines Cemetaryincome Interestearnedoninvestments Miscelaneousrevenues TotalRevenues Expenditures: Curent- GeneralGovernment Mayor'salary Councilmenbers'salaries Clerk'salary Oficesalaries Retirementexpense Payroltaxexpense Compensatedabsencesexpense Unemploymentcompensation Auditfes Legalservices Computerservices DuesConventionsandtravel Maintenanceofequipment MaintenanceofTownHal Insurance Oficexpenseandsuplies Printingandlegalpublications Postage Comunications Utilities Electionexpense Decorationsmaintenanceandrepair Coronor Cdmevictimsreparationfes LCLEremitances LRSTMITF TreasurerStatCM[S Emergencyprepardnes Cemetaryexpense SocialandRecreationprograms Miscelaneous TotalGeneralGovernment P~=n~=r~lFund Schedule2 Variance Favorable Budaet ~ (Unfavorable.) 265,0 14,0 3,20 13,80 1,O0 2,50 15,0 2,50 6,50 16,0 1,0 3,50 3,0 307, , ,471 15,02,4236,62 18,815202,85t3, ,240 46,540 6,0 7,20 17,280 13,90 1,80 1,3502O0 2, ,50 1,30 3,0 1,0 9,0 5,0 2,0 2, ,20 2,O0O250 1,05O O 2,5061,050'20 6,07, ,4071,541, ,802, ,0101,048 7,493,1672,4362, ,127 2, , ,732 (Continued) (3,576)(72) (48) 1,5011,813(436)417(17) 73

31 VilageofRosedale,Louisiana ScheduleofRevenues,ExpendituresandChangesinFundBalance GeneralFund-BudgetandActual YearendedDecember3t,202 Curent(Continued)- PoliceDepartment- Salariesandwages Retirementexpense Payroltaxexperise Uniformsandacesories Vehiclexpense Maintenanceofequipment Insurance Comunications Supliesandexpenses DuesTraining Misceltaneus TotalPoliceDepartment StretsandSanilation- Salariesandwages Retirementexpense Payroltax Compensatedabsencesexpenses Uniformsandacesories insurance Supliesandsmaltols Maintenanceofequipment Maintofstrets&sidewalks Maintbuilding-maintenance Maintbuilding-utilities Comunications Stretlighting vehiclexpense Animal,mosquitoandrodentcontrol Training Miscelaneous TotalStrets&Sanitation CapitalOutlays- Capitaloutlay-GeneralGovernment Capitaloutlay-WaterSystemImprovements Capitaloutlay-Police Capitaloutlay-Strets&Sanitation TotalCapitaloutlays TotalExpenditures ExcesRevenuesover(under)Expenditures Gf=neralFund Schedule2 Variance Favorable Budoet ActualtUnfavorable} 2, ,2983,316165,8621,0121, ,693 3,107 56,0 1,50 2,90 3,50 6,0 7,0 21,0 2,0 1,0 2,080 1,0 6,50 7,50t0t0 128,90 20,0 4,0 170, ,030 51, , ,7065,3846,634 20,4743,262451, ,8366,3235, ,207 04, , ,48258(54)(742) (206) (1,26) , (195) 7,984 8, (109,30)(38,603)70,727 (ConUnued)

32 VlJageofRosedale,Louisiana ScheduleofRevenues,ExpendituresandChangesinFundBalance GeneralFund-BudgetandActual YearendedDecember OtherFinancingSources(Uses): Budaet Actual(Unfavorable~ Favorable Variance OperatingtransfersIn/(out)- SpecialRevenue-Fire-salariesandrelatedbenefits EnterpriseFund-Watersalariesandrelatedbenefits EnterpriseFund-Watersystemaintenance (5,50) ExcesRevenuesandOtherFinancing Sourcesover(under)Expendituresand TotalOtherFinancingSources(Uses) (8,50o)(40) (5,46) (7,060) (14,40)(12,845) (29) 1, ,487 (34) OtherFinancing(Uses) BeginlngFundBalance (123,730) Residualequitytransfersin(Out) EndingFundBalance CapitalProjectsFund-LCDBGLocalContribution 198,854(50O) (61,48) 196,654(60) $146, (0) $72,262 0

33 VilageofRosedale,Louisiana ScheduleofRevenues,ExpendituresandChangesinFundBalance SpecialRevenueFund-BudgetandActual Schedule3 YearendedDecember Revenues: Salestaxaportionment Budaet Favorable Variance Interestincome Miscelaneousrevenue Expenditures; Curent-Publicsafety- TotalRevenues $95,01,0 $10,932 A{;tueltUnfavorablet 96,0 1,0228 1,962 $15,932 15, Saladesandlabor Payroltaxexpense Conventions&travel Supliesandsmaltols Building,groundsmaintenance 9,7596 Vehiclemaintenance Equipmentrepairs&maintenance 2, ,167 Computerservices Comunications Training-FireSchols/Seminars 3, Uniformsandacesories Utilities Oficesuplies 2, tbervilefirefightera-jointcost Profesionalfes 2, Audit~es Miscelaneous 1,65010 ~nsu~nce Dues Debtservice TotalCuren 39,40 10, ,06 2, Principal Interest Capitaloutlay- TotalDebtservice 27,36,643 27,3 (2,252) TotalCapitaloutlay 3,9767,60 3,976 01,94 ExcesRevenuesOver(under)Expenditures TotalExpenditures OtherFinancingSources(Uses): ,910 (4,196) OperatingtransfersIn(Out)-General ExcesRevenuesOver(Under)Expenditures andotherfinancing(uses) TotalOtherFinancingSources(Uses) 5,505, (34)(34) FundBalance: 20,624 32,375 BeginingFundBalance EndingFundBalance $92,276$104,027 71, $1.752

34 VilageofRosedale,Louisiana ScheduleofAuditFindings December31,202 Sehedule4 CurentYearFindings: Finding202-1AnemployeoftheVilageofRosedaleusedtheVilage'screditcardtopayforpersonal purchases.therewere57separatechargestotaling$4,062.1i.thefirstchargewasdated9/16/202,thelast wasdated1/17/202. valueofthestateoranypoliticalsubdivisionshalnotbeloaned,pledgedordonatedtorforanyperson, Criteria:Article7Section14oftheLouisianaConstitutionstatesthatfundșcredit,property,orthingsof asociation,orcorporation,publicorprivate. perspectiveinformation:thevilageclerkdiscoveredthefirstchargesonthecreditcardstatementdated 9/27/02andinformedthemployeoftheilegalnatureofthetransactionolaterthan10/9/02.The employerepaidthevilageforalpersonalchargesapearingonthatstatementandsubsequentstatements (OctoberandNovember)inNovember.Thecreditcardacounthasincebenclosedandthemployewas suspended. Cause:Asanemployeinprivateindustry,themployestatedthathewasalowedtousehiscreditcardfor personalpurchasesandmakereimbursement.heasumedthathecouldothesamewiththemunicipal government. Efect:TherewasnoefectothefinancialstatementsincetheVilagewasfulyreimbursedbyearenḍ Recomendation:Intheventanewcreditcardacountisopened,theVilageshouldformalyadoptapolicy foruseofthecreditcardsinpayingforpurchases.employestrustedwithuseofthecreditcardshouldbe notifiedinwritingofthepolicy.employeshouldhaveacestocreditcardsonlyatimeswhencaryingon specificvilagebusinesandnotcarythemaroundalthetime.themploymentstatusofthemploye shouldbeoficialyfinalizedasonasposible. Management'sPlanofCorectiveAction:Themployewastoldthathispracticewasilegalingovernmenț andthathemustmakerestitutionimediately.hedidmakerestitutionandtherewasnocostothevilagẹ Alapropriateagencies,includingtheDistrictAtorney,werenotifiedandthemployewasuspended pendinginvestigationbythedistrictatorney.thecreditcardhasbencanceledandthevilagenolonger hasageneralcreditcard.thevilagewiladoptaformalpolicywherebyanyfuturecreditcardwilbeheldin thetownhalbyabondedemployeandisuedonlyforspecificuse.employeswilbeprovidedawriten copyofthepolicy. 29

35 VilageofRosedale,Louisiana ScheduleofPriorYearAuditFindings Schedule5 December PriorYearFindings Fiadin~g201-1:TheVilagefailedtocomplywiththeLSA-RSTitle38:212the"PublicBidLaw"in ~hcpurchaseofaused4wheldrivetractorwitheavydutysidebomowercosting$20,0. Resolution:TheVilageClerkisfunctioningasthepurchasingagentandhasresponsibilityforcompliance withalaplicablelaws.theywerenoviolationsofthepublicbidlawduringtheyearendeddecember