CAREER BUILDERS OF LOUISIANA REVIEW/ATTESTATION REPORT YEAR ENDED JUNE 30, 2005

Transcription

1 REVIEW/ATTESTATION REPORT YEAR ENDED JUNE 30, 2005 Under provisions of state law, this report is a public document. Acopy of the report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office of the Legislative Auditor and, where appropriate, at the office of the parish clerk of court. Release Date -Z-- / 5 - & >

2 TABLE OF CONTENTS Accountant's Report Page 3 Financial Statements Statement of Assets and Liabilities Arising from Cash Transactions Page 4 Statement of Receipts and Disbursments-Cash Basis Page 5 Statement of Net Assets Page 6 Notes to Financial Statements Page 8 Attestation Report Page 11 Schedule of Prior Year's Findings Page 13 Schedule of Current Year's Findings Page 14 Corrective Action Plan Page 15

3 ^± nl n sit u.ecpas 7829 BLUEBONNET BLVD. BATON ROUGE, LA (225) ACCOUNTANT'S REPORT October 5, oard of Directors of the Career Builders of Louisiana 9441 Common Street, Suite B Baton Rouge, Louisiana I have reviewed the accompanying statement of assets and liabilities arising from cash transactions of Career Builders of Louisiana as of June 30, 2005, and the related statements of receipts and disbursements - cash basis, and the statement of net assets for the year then ended, in accordance with Statements on Standards for Accounting and Review Services issued by American Institute of Certified Public Accountants. All information included in these financial statements is the representation of the management of Career Builders of Louisiana. The financial statements have been prepared on the cash basis of accounting, which is a comprehensive basis of accounting other than generally accepted accounting principles. A review consists principally of inquiries of Organization personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, I do not express such an opinion. Based on my review, I not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformity with generally accepted accounting principles. Respectfully submitted,

4 STATEMENT OF ASSETS AND LIABILITIES ARISING FROM CASH TRANSACTIONS JUNE 30, 2005 ASSETS ASSETS Cash $140,474 Total Assets 140,474 LIABILITIES AND NET ASSETS LIABILITIES Accounts Payable $-0- Total Liabilities -0- NET ASSETS Net Assets 140,474 Total Net Assets 140,474 Total Liabilities and Net Assets 140,474 See accompanying notes and accountant's report. 4

5 STATEMENT OF RECEIPTS AND DISBURSEMENTS - CASH BASIS FOR THE YEAR ENDED JUNE 30, 2005 RECEIPTS Main Operating Fund LAFESTE Department of Economic Development Officer of the Governor-Youth Grant Fee For Service PTEC Ascension PTED Dow St James Vulcan Grant Total Receipts DISBURSEMENTS Salaries and Benefits Staff Motivation Incentives Direct Program Charge Equipment Miscellaneous Advertising Dues and Subscriptions Insurance Supplies Postage Printing Rent Telephone Travel and Entertainment Professional Services Uniforms Total Disbrusements $119,279 83, ,439 86,884 37,635 3,000 16,760 2,125 50, , , , , 806 6, , 159 3, 899 4, 484 2, , 740 1, 443 5, , 110 4, , , ,131 Net Increase in Net Assets 31,724 See accompanying notes and accountant's report.

6 STATEMENT OF NET ASSETS FOR THE YEAR ENDED JUNE 30, 2005 Net Assets, July, 1, 2004 $108,750 Increase in Net Assets 31,724 Net Assets, June 30, ,474 See accompanying notes and accountant's report. 6

7 NOTES TO FINANCIAL STATEMENTS NOTE #1. NATURE OF ACTIVITIES AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of Career Builders of Louisiana (the Organization) have been prepared on the cash basis of accounting. As a result, income and expense reported on the Statement of Receipts and Disbursements - Cash Basis may relate to a prior or future period. The significant policies followed are described to enhance the usefulness of the financial statements to the reader. Nature of Activities Career Builders of Louisiana is an industry-lead school-to-work partnership designed to link business and education to create a better workforce in Baton Rouge, Louisiana. The Organization fulfills this by operating these programs: Career Connections, Career Max, Raising the Bar, PTEC, and Career Book Buddy. Career Builders also conducts workforce development activities for the State's identified clusters for economic development (Petrochemical, Oil and Gas and Entergy, and Technology). These programs are funded by a grant received from the Department of Economic Development and through private funding sources. The accounting and reporting policies of the Organization conform to generally accepted accounting principles. The significant accounting policies used by the Organization in preparing and presenting its financial statements are summarized as follows: BASIS OF PRESENTATION: Financial statement presentation follows the recommendations of the Financial Accounting Standards Board in its Statement of Financial Accounting Standards (SFAS) No. 117, Financial Statements of Not-For Profit Orcranizations. even though the financial statements are cash basis. Under SFAS No. 117, the Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. INCOME TAX: The Organization is exempt from Federal Income Taxes under Section 501 (c) (3) of the Internal Revenue Code, and has been designated as an organization which is not a private foundation. Accordingly, no provision for income taxes has been included in the financial statements this year.

8 NOTES TO FINANCIAL STATEMENTS NOTE #1. NATURE OF ACTIVITIES AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES GRANTS: Grants received are recorded as unrestricted, temporarily restricted or permanently restricted support, depending on the existence or nature of any donor restrictions. Support that is restricted by the donor whose restrictions are met within the same year as received are reported as unrestricted support in the accompanying financial statements. All other donor-restricted support is reported as an increase in temporarily or permanently restricted net assets, depending on the nature of restriction. When a restriction expires (that is, when a stipulated time restriction ends or purpose restriction is accomplished), temporarily restricted net assets are reclassified to unrestricted net assets and reported in the Statement of Receipts and Disbursements as net assets released from restrictions. PREPAID: Insurance and similar services which extend over more than one accounting period have been recorded as expense. PROPERTY AND EQUIPMENT; The cost for property and equipment under the cash basis is recorded as an expense at the time of purchase. The Organization had approximately $6,500 in office furniture and computer equipment as of June 30, NOTE #2. CONCENTRATION OF SUPPORT The Organization received approximately 43% of its revenue from federal and state grants. NOTE #3. CONCENTRATION OF CREDIT RISK The Organization maintains cash at a local bank. The balance at times may exceed the amount insured by the Federal Deposit Insurance Corporation of $100,000. The Organization exceeded the insured limit by approximately $37,945 at June 30, 2005.

9 NOTES TO FINANCIAL STATEMENTS NOTE #4 - RISK MANAGEMENT The Organization is exposed to various risks of loss related to torts, theft of, damage of and destruction of assets; errors and omissions and natural disasters for which the organization carries commercial insurance. There have been no significant reductions in coverage from prior year and settlements have not exceeded coverage in the past three years. NOTE #5. CONTINGENCIES The Organization received a portion of its revenues from government grants and contracts, all of which are subject to audit by the governments. The ultimate determination of amounts received under these programs generally is based upon allowable cost reported to and are subject to audit by the government. Until such audits, if any, there exists a contingency to refund any amount received in excess of allowable cost. Management is of the opinion that no material liability will result from such audits.

10 ATTESTATION REPORT 10

11 Donald C. DeVitte 7829 BLUEBONNET BLVD. BATON ROUGE, LA (225) Louisiana Independent Accountant's Report on Applying Aqreed-Upon Procedures October 5, 2005 To The Board of Directors of the Career Builders of Louisiana 9441 Common Street, Suite B Baton Rouge, Louisiana I have performed the procedures included in the Louisiana Government Audit Guide and enumerated below, which were agreed to by the management of Career Builders of Louisiana and the Legislative Auditor, State of Louisiana, solely to assist the users in evaluating management's assertions about Career Builders of Louisiana's compliance with certain laws and regulations during the year ended June 30, 2005, included in the accompanying Louisiana Attestation Questionnaire. This agreed-upon procedures engagement was performed in accordance with standards established by the American Institute of Certified Public Accountants. The sufficiency of these procedures is solely the responsibility of the specified users of the report. Consequently, I make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose. Federal, State and Local Awards 1. Determine the amount of Federal, State and local award expenditures for the fiscal year by grant and grant year. State: Department of Economic Development $147,439 Office of the Governor-Workforce Commission Office 86,884 Total 234, Randomly select 6 disbursements made during the period under examination and: (a) trace payments to supporting documentation as to proper amount and payee; 11

12 I examined supporting documentation for each of the six randomly selected disbursements and found that payments was for the proper amount and made to the correct payee. (b) determine if payments were properly coded to the correct fund and general ledger account; and All of the payments were properly coded to the correct fund and general ledger account. (c) determined whether payments received approval from proper authorities. Meetings Inspection of documentation supporting each of the six selected disbursements indicated approvals from the director. 3. Examine evidence indicating that agendas for meetings recorded in the minute book were posted or advertised as required by LSA-RS 42:1 through 42:12 (the open meetings law). I reviewed the minutes of the Organization and found that the agendas for the meetings were not posted or advertised as required. Comprehensive Budget 4. Obtained a copy of the legally adopted budget and all amendments. I obtained a copy of the total budget filed with the State of Louisiana with the anticipated use of funds and objectives of the project. I was not engaged to, and did not, perform an examination, the objective of which would be the expression of an opinion on management's assertions. Accordingly, I do not express such an opinion. Had I performed additional procedures, other matters might have come to my attention that would have been reported to you. This report is intended solely for the use of management of Career Builders of Louisiana and should not be used by those who have not agreed to the procedures and taken responsibility for the sufficiency of the procedures for their purposes. However, this report is a matter of public record and its distribution is not limited. Under Louisiana Revised Statutes 24:513, this report is distributed by the Legislative Auditor as a public document. Respectfully submitted

13 SCHEDULE OF PRIOR YEARS AUDIT FINDINGS YEAR ENDED JUNE 30, 2005 FISCAL YEAR FINDING CORRECTIVE CORRECTIVE ACTION/PARTIAL REF INITIALLY ACTION TAKEN CORRECTIVE NO. OCCURRED DESCRIPTION OF FINDING (YES,NO,PARTIALLY) ACTION TAKEN NONE 13

14 SCHEDULE OF CURRENT YEAR FINDINGS YEAR ENDED JUNE 30, 2005 REPORTABLE CONDITION: The Organization did not post board meeting agendas or advertise the board meetings. CRITERIA: LSA-RS 42:1 through 42:12 {the open meetings law). CAUSE: EFFECT: The Organization was not aware of this requirement. There is no material effect to these financial statements RECOMMENDATION: I recommend that all board meeting be posted. MANAGEMENT RESPONSE: future. Board Meeting agendas will be posted in the * * * * 14

15 CORRECTIVE ACTION PLAN FOR CURRENT YEAR FINDINGS YEAR ENDED JUNE 30, 2005 REF NO. DESCRIPTION OF FINDING CORRECTIVE ACTION PLANNED NAME OF CONTACT PERSON ANTICIPATED COMPLETION DATE 1. Meeting Agendas Meeting Agendas Stacey Chiasson Were Not Posted Will Now Be Posted 15

16 LOUISIANA ATTESTATION QUESTIONNAIRE (For Attestation Engagements of Government) Donald C DeVille Certified Public Accountant ( Date Transmitted) 7R7Q R1 mahinnngt-. "R 1 \ra T p.- a ' 7nft1 0 _ (Auditors) In connection with your review of our financial statements as of [date] and for the year then ended, and as required by Louisiana Revised Statute 24:513 and the Louisiana Governmental Audit Guide, we make the following representations to you. We accept full responsibility for our compliance with the following laws and regulations and the internal controls over compliance with such laws and regulations. We have evaluated our compliance with the following laws and regulations prior to making these representations. These representations are based on the information available to us as of (date of completion/representations). Public Bid Law It is true that we have complied with the public bid law, LSA-RS Title 38:2212, and, where applicable, the regulations of the Division of Administration, State Purchasing Office.. Code of Ethics for Public Officials and Public Employees It is true that no employees or officials have accepted anything of value, whether in the form of a service, loan, or promise, from anyone that would constitute a violation of LSA-RS 42: It is true that no member of the immediate family of any member of the governing authority, or the chief executive of the governmental entity, has been employed by the governmental entity after April 1, 1980, under circumstances that would constitute a violation of LSA-RS 42:1119. ^ YesJxfNot ] Budgeting We have complied with the state budgeting requirements of the Local Government Budget Act (LSA-RS 39: ) or the budget requirements of LSA-RS 39:34. ^I Yes^f No[ ] Accounting and Reporting All non-exempt governmental records are available as a public record and have been retained for at least three years, as required by LSA-RS 44:1, 44:7, 44:31, and 44:36.

17 We have filed our annual financial statements in accordance with LSA-RS 24:514, 33:463, and/or 39:92, as applicable. Yes No We have had our financial statements audited or compiled in accordance with LSA-RS 24:5 Yes Meetings We have complied with the provisions of the Open Meetings Law, provided in RS 42:1 through 42:12. Debt It is true we have not incurred any indebtedness, other than credit for 90 days or less to make purchases in the ordinary course of administration, nor have we entered into any lease-purchase agreements, without the approval of the State Bond Commission, as provided by Article VII, Section 8 of the 1974 Louisiana Constitution, Article VI, Section 33 of the 1974 Louisiana Constitution, and LSA-RS 39: Advances and Bonuses It is true we have not advanced wages or salaries to employees or paid bonuses in violation of Article VII, Section 14 of the 1974 Louisiana Constitution, LSA-RS 14:138, and AG opinion We have disclosed to you all known noncompliance of the foregoing laws and regulations, as well as any contradictions to the foregoing representations. We have made available to you documentation relating to the foregoing laws and regulations. We have provided you with any communications from regulatory agencies or other sources concerning any possible noncompliance with the foregoing laws and regulations, including any communications received between the end of the period under examination and the issuance of this report. We acknowledge our responsibility to disclose to you any known noncompliance which may occur subsequent to the issuance of your report. Secretary Date Date Treasurer / / (1\ f\ V ^ttt" President 4 ' CXV - L/C? Date