FILECOPY OFICIAL (XeroxnecesarX frornthai WINPARISHASESOR WINFIELD,LOUISIANA ANUALFINANCIALREPORT DECEMBER31,196
CO~E~S ACOUNTANTS'COMPILATIONREPORT COMPONEI~rUNITFINANCIALSTATEMENTS CombinedBalanceShet-AlFundTypesand GovementalFundType-GeneralFtmd(Salary) AcountGroups StatementofRevenues,Expenditures,andChangesin Notes1'oFinancialStatements FundBalance-Budget(GAPBasis)andActual INDEPENDENTAUDITORS'REPORTONAPLYING LOUISIANATESTATIONQUESTIONAIRE AGRED-UPONPROCEDURES STATEMENTSPAGE 3 A 14 16-2-
WHITE&BATES CERTIFIEDPUBLICACOUNTANTS 203NORTHABELSTRET WIN~TELD.LA7]483 P.O.BOX1397 FAX(31g)628-3986 (3]8)628-3985 LAWRENCE1W~CP~ STEVEN}BATIS,CPA June13,197 ACOUNTANTS'COMPILATIONREPORT HonorableA.D."Bodie"Litle WiunParishAsesor Wiunfield,Louisiana71483 WehavecompiledtheacompanyingfinancialstatementsoftheWinParishAsesor,acomponentunitofthe WiunParishPoliceJury,asofandfortheyearendedDecember31,196,aslistedinthetableofcontents,in acordancewithstandardsforacountingandreviewservicesisuedbytheamericaninstituteofcertified PublicAcountants. Acompilationislimitedtopresentingintheformofinancialstatementsinformationthatistherepresentation ofthewinparishasesor.wehavenotauditedoreviewedtheacompanyingfinancialstatementsand, acordingly,donotexpresanopinionoranyotherformofasuranceontheṃ k White&Bates -3-
WINPARISItASESOR COMPONENTUNITOFWINPARISHPOLICEJURY STATEMENTA COMBINEDBALANCESHET-ALFUNDTYPESANDACOUNTGROUPS DECEMBER31,196 ASETS GOVERNMENTAL _F_.U._ND_~ GENERAL FUND (SALARY~ CASHANDCASHEQUIVALENTS(Note2)$106,505 RECEIVABLES: AdValoremTaxes(Note3) StateRevenueSharing 192,325 21,040 GENERALFIXEDASETS(Note4) TOTALASETS $319,870 LIABILITIESANDFUNDEQUITY LIABILITIES: AcountsPayable TOTALIABILITIES FUNDEQUITY: InvestmentInGeneralFixedAsets FundBalance: Unreserved-Undesignated TOTALFUNDEQUITY TOTALIABILITIESANDFUNDEQUITY Seacompanyingnotesandacountants'report $_1,298 _1.298 318,572 318,572 $3_19,870 ACOUNT GROUI' GENERALTOTALS FIXED ASETS_ $53,573 $53,573 $53,573 53.573 $53,573 (MEMORANDUM) ONLY $106,505 192,325 21,040 53,573 $373.43 $1.298 1.298 53,573 318,572 372~145 $373,43-5-
WINPARISHASESOR COMPONENTUNITOFWINPARISHPOLICEJURY GOVERNMENTALFUNDTYPE-.GENERALFUND(SALARY) STATEMENTOFREVENUES,EXPENDITURES,ANDCHANGES INFUNDBALANCE-BUDGET(GAPBASIS)ANDACTUAL FORTHEYEARENDEDECEMBER31,196 STATEMENTB REVENUES AdValoremTaxes lntergovementalrevenues: StateRevenueSharing InterestIncome OtherRevenue-TaxRols,Notices,etc. TotalRevenues EXPENDITURES Curent: PersonalServicesAndRelatedBenefits OperatingServices TravelAndOlherCharges CapitalOutlays TotalExpenditures EXCESOFREVENUESOVEREXPENDITURES FUNDBALANCEATBEGININGOFYEAR FUNDBALANCEATENDOFYEAR Seacompanyingnotesandacountants"report. VARIANCE FAVORABLE BUDGETACTUA[~(UNFAVORABLE~ $175,103$19,056 31,802 7,583 8,070 31,560 10,619 8,68Q 164,930 32,250 1,824 164,948 27,902 1,501 4,240 209,04208.59[ 13,5441,324 27.24827.248 $290.802$318,572 $23,953 (242) 3,036 610 27.357 (18) 4,348 323 (4.240) 413 27,70-6-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISHASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS 1.SUMARYOFSIGNIFICANTACOUNTINGPOLICIES THEASESOR-AsprovidedbyArticleVI,Section24oftheLouisianaConstitutionof1974,theWin ParishAsesor(the"Asesor")iselectedbythevotersoftheparish.TheAsesorasesesalrealand movablepropertyintheparish,subjectoadvaloremtaxation.theasesor,whoiselectedforafour yearterm,isauthorizedtoapointasmanydeputiesasmaybenecesaryforeficientoperationofthe oficeandprovideasistancetothetaxpayersoftheparish.thedeputiesareauthorizedtoperformal functionsoftheofice,butheasesorisoficialyandpecuniarilyresponsiblefortheactionsofthe deputies. TheAsesor'soficeislocatedintheWinParishCourthouseinWinfield,Louisiana.TheAsesor employsfivemployes,includingfourdeputies.inacordancewithlouisianalaw,theasesorbasesreal andmovablepropertyasesmentsonconditionsexistingonjanuary1ofthetaxyear.theasesor completesanasesmentlistingbymay1ofthetaxyearandsubmitsthelistotheparishgoverning authorityandthelouisianataxcomision,asprescribedbylaw.oncetheasesmentlistingisaproved, theasesorsubmitstheasesmentroltotheparishtaxcolectorwhoisresponsibleforcolectingand distributingtaxestothevarioustaxingbodies. AtDecember31,196,thereare12,315realpropertyandmovablepropertyasesmentstotaling $5,03,765.Thisrepresentsanincreaseof12asesmentstotaling$5,515,705overtheprioryear. A.BASISOFPRESENTATION Thefolowingisasumaryofthemoresignificantacountingpolicies TheacompanyiugfinancialstatementsoftheWiunParishAsesorhavebenpreparedin conformitywithgeneralyaceptedacountingprinciples(gap)asapliedtogovernmentalunits. TheGovernmentalAcountingStandardsBoard(GASB)istheaceptedstandard-setingbodyfor B.REPORTINGENTITY establishingovernmentalacountingandfinancialreportingprinciples. Asthegoverningauthorityoftheparish,foreportingpurposes,theWinParishPoliceJuryisthe financialreportingentityforwirmparish.thefinancialreportingentityconsistsof(a)theprimary govement(policejury),(b)organizationsforwhichtheprimarygovernmentisfinancialyacountable, and(c)otherorganizationsforwhichnatureandsignificanceoftheirelationshipwiththeprimary governmentaresuchthatexclusionwouldcausethereportingentity'sfinancialstatementstobe misleadingorincomplete. (Continued) - 7-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISHASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS 1.Apointingavotingmajorityofanorganization'sgoverningbody,and a.theabilityofthepolicejurytoimposeitswilonthatorganizationand/or b.thepotentialfortheorganizationtoprovidespecificfinancialbenefitsto&"impose 2.Organizationsforwhichthepolicejurydoesnotapointavotingmajoritybutarefiscaly specific:financialburdensonthepolicejury. dependentonthepolicejury. dataoftheorganizationisnotincludedbecauseofthenatureorsignificanceofthe relationship. Organizationsforwhichthereportingentityfinancialstatementswouldbemisleadingif C.FUNDACOUNTING TheAsesorusesfundsandacountgroupstoreportonitsfinancialpositionandtheresultsofits operations.fundacountingisdesignedtodemonstratelegalcomplianceandtoaidfinancial Afundisaseparateacountingentitywithaself-balancingsetofacounts.Ontheotherhand,an managementbysegregatingtransaetionsrelatingtocertaingovernmentfunctionsoractivities. acountgroupisafinancialreportingdevicedesignedtoprovideacountabilityforcertainasets andliabilitiesthatarenotrecordedinthefundsbecausetheydonotdirectlyafectnetexpendable availablefinancialresources.thefolowingfundsandacountgroupsareusedbytheasesor: (Continued) - 8-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISHASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS FUNDS FundsoftheAsesorareclasifiedasgoveimnentalfunds.Govermnentalfundsacountfor Asesor'sgeneralactivities,includingthecolectionandisbursementofspecificorlegaly restrictedmoniesaudtheacquisitionofgeneralfixedasets.thewinparishasesorhasthe folowingovernmentalfund: GeneralFund(Salary)-TheGeneralFundistheprincipalfundoftheAsesorandisusedtoacount fortheoperationsoftheasesor'sofice.compensationreceivedfromthevarioustaxingbodiesand advaloremtaxrevenuesareacountedforintifsfund.generaloperatingexpendituresarepaidfrom thisfund. ACOUNTGROUPS GeneralFixedAsets-Thisacotmtgroupisestablishedtoacountforalfixedasetsusedin governmentalfundtypeoperations.generalfixed~tsetsprovidedbythewinparishpolicejury,which arenotsignificant,arenotrecordedwithinthegeneralflxedasetsacountgroup.fixedasetsarevalued athistoricalcost.nodepreciationhasbenprovidedongeneralfixedasets. GeneralLong-TermDebt-Thisacountgroupisestablishedtoacountforalong-termobligations oftheasesor.atdecember31,196,theasesorhadnolong-termobligations. Theseacountgroupsarenotfundsandareconcernedonlywiththemeasurementofinancialposition andonotinvolvemeasurementofresultsofoperations. D.BASISOFACOUNTING Theacountingandfinancialreportingtreatmentapliedtoafundisdeterminedbyitsmeasurement focus.thegeneralfundisacountedforusingacurentfinancialresourcesmeasurementfocus.with thismeasurementfocus,onlycurentasetsandetutentliabilitiesgeneralyareincludedonthebalance shet.theoperatingstatementofthegeneralfundpresentsincreasesandecreasesinetcurentasets. ThemodifiedacrualbasisofacountingisusedbytheGeneralFund.TheGeneralFundusesthe folowingpracticesinrecordingrevenuesandexpenditures: Revenues-Advaloremtaxrevenuesarerecordedintheyearinwhichtheadvaloremtaxesareasesed. AdvaloremtaxesareasesedonJanuary1,becomedueonNovember15,andbecomedelinquenton December31,ofeachyear.Staterevenuesharingisrecordedintheyearinwhichsuchfundsare authorizedforpaymentbythestateoflouisiana.alotherevenuesarerecordedintheperiodinwhich theybecomeavailableforuse. (Continued) -9-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISHASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS Expenditures-Expendituresaregeneralyrecognizedunderthemodifiedacrualbasisofacounting whentherelatedfundliabilityisincured.exceptionstothisgeneralruleincludeprincipalandinterest ongeneralong-termdebtwhichisrecognizedwhendue. E.BUDGETARYPRAC"TICES AsrequiredbyLouisianaRevisedStatutes,theWinParishAsesorpreparedandlegalyadopteda budgetforthegeneralfundfortheyearendeddecember31,196.theproposedbudgetwasprepared usingeneralyaceptedacountingprinciples,whichisconsistentwiththebasisofacountingusedin thepreparationoftheacompanyingfinancialstatements.theproposedbudgetwasmadeavailablefor publicinspectionondecember15,195.albudgetapropriationslapseatyear-end. Formalbudgetintegrationwithintheacountingrecordsisnotemployedasamanagementcontroldevice. Theasesordoesnotusencumbranceacounting.Budgetedamountsincludedinthefinancial statementsincludetheoriginaladoptedbudgetandalsubsequentamendments. F.CASHANDCASHEQUIVALENTS Cashincludesamountsininterestbearingdemandeposits.Cashequivalentsincludeamountsintime deposits.timedepositsarestatedatcost.undercurentstatelaw,theasesormaydepositfundsin demandeposits,interestbearingdemandeposits,moneymarketacounts,ortimedepositswithstate banksorganizedundcrlouisianalawandnationalbankshavingtheirprincipaloficesinlouisiana. G.ACOUNTSRECEIVABLE Alreceivablesarereportedatheirgrosvalueand,whereaplicable,arereducedbythestimated porfionthatisexpectedtobeuncolectible.uncolectibleamountsarerecognizedasbadebtsthrough thestablishmentofanalowanceacountathetimeinformationbecomesavailablewhichwouldindicate theuncolectibilityofthereceivable.atdecember31,196noamountsweredemeduncolectible. H.COMPENSATEDABSENCES TheWiunParishAsesorprovidesvacationleavetoitsful-timemployesasfolows OneYeartoTenYears VACATION OverTenYears WEKS Theabovedescribedvacationleaveweksarenotcumulativeandmustbeuseduringtheperiodearned 23 and,acordingly,thewitmparishasesorhasnoacumulatedandvestedbenefitsrelatedtovacation leavewhichrequireacrual.thewiunparishasesordoesnothaveaformalsickleavepolicy. (Continued) - 10-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISHASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS I.USEOFESTIMATES Thepreparationofmancialstatementsinconformitywithgeneralyaceptedacounting principlesreqniresmanagementomakestimatesandasumptionsthatafecthereportedamountsof asetsandliabilitiesandisclosureofcontingentasetsandliabilitiesathedateofthefmancial statementsandthereportedamountsofrevenuesandexpensesduringthereportingperiod.actualresults couldiferfromthosestimates. J.TOTALCOLUMNONBALANCESHET ThetotalcolumnonthebalanceshetiscaptionedMemorandumOnlytoindicatethatitispresentedonly tofacilitatefinancialanalysis.datainthiscolunmdoesnotpresentfinancialpositioninconformity 2.CASHANDCASHEQUIVALENTS withgeneralyaceptedacountingprinciples.neitherisuchdatacomparabletoaconsolidation. AtDecember3I,196,theWianParishAsesorhadcashandcashequivalents(bokbalances)totaling $106,505.Thistotalincludedemandepositsof$31,30andtimedepositsof$75,175.Thebank balanceoftheseaczoantstotaled$105,843atdecember31,196.understatelaw,thesedepositsmust besecuredbyfederaldepositinsuranceorthepledgeofsecuritiesownedbythefiscalagentbank.the marketvalueofthepledgedsecuritiesplusthefederaldepositinsurancemustataltimesequaltheamount ondepositwiththefiscalagent.atdecember31,196alcashandcashequivalentbalancesofthewin ParishAsesorweresecuredbyfederaldepositinsurance. 3.ADVALOREMTAXES Duringthe3,earendedDecember31,196,thefolowingmilageswereauthorizedandlevied AuthorizedLevied Milag_Milage. Thefolowingaretheprincipaltaxpayersfortheparish: 4.71 4.71.TA~I!~Lv_cx. TypeofBusinesValuation Asesed 196 Percentageof LouisianaPowerandLightPublicUtilities WilameteIndustries,Inc.Timber RiverwodInternationalTimber $3,95,170 TotalAsesed SouthCentralBelTelephoneTelecomunications1,869,620 3,935,140 Valuatign NewRiverTimber Timber 2,901,630 7.3% 7.1% TOTAL$14.5.07.10!,805,50 5.3%.26,4% 3.4%3,3% (Continued)-1-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISHASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS TheadvaloremtaxesreceivableatDecember31,196recordedintheGeneralFund,representamounts duetheasesorfortaxesasesedonjanuary1,196,butremitedsubsequentodecember31,196 4.GENERALFIXEDASETS bythewinparishsherif,thex-oficiotaxcolector. Asumaryofchangesingeneralfixedasets(oficefurnishingsandequipment)folows Balance,January1,196 Aditions $52,25 Balance,December31,196 Deletions (2,92,2) 4,240 S.PENSIONPLAN $53,~73 PlanDescription-Alful-timemployesoftheWinParishAsesorp,'lrticipateintheLouisiana plan,controledandadministeredbyaseparateboardoftrustes. AsesorsRetirementSystem("System"),amultiple-employer(cost-sharing),definedbenefitpension participateinthesystem.employeswhoretireatorafterage5withatleast12yearsofcredited Alful-timemployeswhoareundertheageof60athetimeoforiginalemploymentandarenot drawingretirementbenefitsfromanyotherpublicretirementsysteminlouisianarerequiredto payablemonthlyforlife,equalto3percentoftheirfinal-averagesalaryforeachyearofcreditedservice, notoexcx:ed10percentoftheirfinal-averagesalary.final-averagesalaryisthemploye'saverage serviceoratorafterage50withatleast30yearsofcreditedservicearentitledtoaretirementbenefit, salaryoverthe36consecutiveorjoinedmonthsthatproducethehighestaverage.employeswho terminatewithatleast12yearsofserviceandonotwithdrawtheiremployecontributionsmayretire atorafterage5andreceivethebenefitacruedtotheirdateoftermination.thesystemalsoprovides deathandisabilitybenefits.benefitsarestablishedoramendedbystatestatute. TheSystemisuesananualpubliclyavailablefinancialreporthatincludesfinancialstatementsand requiredsuplementaryinformationforthesystem.thatreportmaybeobtainedbywritingtothe LouisianaAsesors'RetirementSystem,PostOficeBox1786,Shreveport,Louisiana716-1786,or bycaling(318)425-46. FundingPolicy-Planmembersarerequiredbystatestatutetocontribute7.0percentoftheiranual coveredsalaryandthewinparishasesorisrequiredtocontributeatanactuarialydeterminedrate. Thecurentrateis5.5percentofanualcoveredpayrol.ContributionstotheSystemalsoincludeonefourthofonepercent(onepercentforOrlear~sParish)ofthetaxeshowntobecolectiblebythetaxrols (Continued) -12-
COMPONENTUNITOFWINPARISHPOLICEJURY WINPARISItASESOR FORTHEYEARENDEDECEMBER31,196 NOTESTOFINANCIALSTATEMENTS ofeachparish,plusrevenuesharingfundsapropriatedbythelegislature.thecontributionrequirements ofplanmembersandthewinparishase,~sorarestablishedandmaybeamendedbystatestatute.as providedbylouisianarevisedstatute1:103,themployercontributionsaredeterminedbyactuarial valuationandaresubjectochangeachyearbasedontheresultsofthevaluationforthepriorfiscalyear. TheWinparishAsesor'scontributiontotheSystemfortheyearendingDecember31,196was 6.SERVICESPROVIDEDBYWINPARISHPOLICEJURY $6,650.Thisamountwasequaltotherequiredcontributionfor196. TheWinParishPoliceJuryprovidestheWinParishAsesorwithoficefacilitiesandthe.relatedutility 7.LITIGATION costsofsuchfacilities. 8.OTHERDISCLOSURES TheWirmParishAsesorwasnotinvolvedinanylitigationatDecember31,196 notestothedecember31,196financialstatements. Therewerenosubsequentevents,leases,orelatedpartytransactionsthatrequiredisclosuresinthese (Concluded) - 13-
WHITE&BATES CERTIF1F~)PUBLICACOUNTANTS 203NORTHABELSTRET WINFIELD,LA71483 P.O.BOX1397 FAX(318)628-3986 (318)628-3985 IAWRENCEIW~TE,CP.A Jane13,197 INDEPENDENTAUDITORS'REPORTONAPLYINGAGRED-UPONPROCEDURES HonorableA.D.Litle WirmParishAsesor Wirmfield,LA71483 WehaveperfomaedtheproceduresincludedintheLouisianaGovernmentAuditGuideandenumeratedbelow, whichwereagredtobytilemanagementofwinparishasesorandthelegislativeauditor,stateof Louisiana,solelytoasistheusersinevaluatingmanagement'sasertionsaboutheWinParishAsesor's compliancewithcertainlawsandregulationsduringtheyearendeddecember31,196includedinthe acompanyinglouisianaatestationquestionaire.thisagred-uponproceduresengagementwasperformed inacordancewithstandardsestablishedbytheamericaninstituteofcertifiedpublicacountants.the suficiencyoftheseprcr.eduresisolelytheresponsibilityofthespecifiedusersofthereport.consequently,we makenorepresentationregardingthesuficiencyoftheproceduresdescribedbeloweitherforthepurposefor whichthisreporthasbenrequestedorforanyotherpurpose. 1.Selectalexpendituresmadeduringtheyearformaterialandsupliesexceding$5,0,orpublicworks PublicBidLaw exceding$50,0,andeterminewhethersuchpurchasesweremadeinacordancewithlsa-rs 38:21-251(thepublicbidlaw). NoexpendituresweremadeduringtheyearendedJune30,196whichexcededtheabove amounts. 2.Obtainfromanagementalistoftheimediatefamilymembersofeachboardmemberasdefinedby CodeofEthicsforPublicOficialsandPublicEmployes LSA-RS42:101-124(thecodeofethics),andalistofoutsidebusinesinterestsofalboardmembers andemployes,aswelastheirimediatefamilies. TheWimlParishAsesorprovideduswiththerequiredlisṭ 3.Obtainfromanagementalistingofalemployespaiduringtheperiodunderexamination, TheWinParishAsesorprovideduswiththerequiredlist. -14-
4.Determinewhetheranyofthosemployesincludedinthelistingobtainedfromanagementinagred. uponprocedure(3)werealsoincludedonthelistingobtainedfrommanagementinagred-upon procedure(2)asimediatefamilymembers. Noneofthemployesonthelistprovidedinagred-uponprocedure(3)matchedanyname providedinagred-uponprocedure(2) 5.Obtainedacopyofthelegalyadoptedbudgetandalamendments. Ḃudgeting TheWinParishAsesorprovideduswithacopyoftheoriginalbudgetandalsubsequent 6.Tracethebudgetadoptionandamendmentstotheminutebok amendmentsfortheyearendeddecember31,196. ThebudgetwasadoptedonDecember15,195bytheWinParishAsesorandmadeavailable 7.Comparetherevenuesandexpendituresofthefinalbudgetoactualrevenuesandexpendituresto forpublicinspectiononthatdate. determineifactualrevenuesorexpendituresexcedbudgetedamountsbymorethan5%. Wecomparedbudgetedrevenuesandexpenditurestoactualrevenuesmadexpendituresandnoted thatactualexpendituresdidnotexcedbudgetedamountsbymorethan5%;however,actualrevenues excededbudgetedrevenuesbyaproximately12%. 8.Randomlyselect6disbtrsementsmadeduringtheperiodunderexaminationand: AcountingandReportlng (a)tracepaymentstosuportingdocumentationastoproperamountandpaye; Wexaminedsuportingdocumentationforeachofthesixselectedexpendituresandnotedthat thepaymentamountandpayewereproper. (b)determineifpaymentswereproperlycodedtothecorectfundandgeneraledgeracount; (c)andeterminewhetherpaymentsreceivedaprovalfromproperauthorities Wenotednoexceptionstocodingsforproperfundorgeneraledgeracount. TheWinParishAsesorproperlyaprovedalselections 9.]Examinevidenceindicatingthatagendasformetingsrecordedintheminutebokwerepostedor advertisedasrequiredbylsa-rs42:1through42:12(theopenmetingslaw). ThisisnotaplicabletotheWiunParishAsesor -15-