O ;-t'~icia L F/L[:C0py co;)ias frown!t ~r 4 Copy and PiAC[ back in F~LD A SC ENSIO N PA RISH LIBRA RY DO NA LDSO NVILLE,LO UISIA NA Zox4 A N NUA L FINA NC IA L R EPO RT D EC EM B ER 31,1998 U nder provisions ofstate law,this report is a public docum ent. A copy ofthe ~e;.'o~th~,s been s.'.~,brnit-!ed to the a['(!ih~d, or revie~ve(i, entity and otilereppiopriate publ,ic of icials. "[lie rel'.'o.d is.:~vai~-~h -.,tar pub!ic insl:ectior ~;t the b,~[cn ~'^ Rsu~e ofik:e ofh~4~i.c~.isisdve Auditor ~m d,,j.;h,e~ a.-:~r:-priate,at the uifice ofthe parish clerk of c:ourt. Release r)ate._._~pr 2 8 "i999
A SCENSIO N PA RISH LIBRA RY TA BLE O F C O NTENTS D EC EM B ER 31.1998 PA G E ndependentauditors'report Reporton com pliance and on internalcontrolover financialreporting based on an auditof financialstatem ents perform ed in accordance w ith governm entauditing standards CO M PO NENT UNIT FINA NCIA L STATEM ENTS (COMBINED STATEMENTS -OVERVIEW ) C om bined balance sheet-a lfund types and accountgroups C om bined statem entofrevenues,expenditures, and changes in fund balances -a l governm entalfund types C om bined statem entofrevenues,expenditures, and changes in fund balances -budget (GAAP basis)and actual-generalfund type N otes to financialstatem ents FINA NC IA L.STATEM ENTS O F INDIVIDUA L FU N DS A N D A C C O U NT G RO U PS G ENERA L FUND Com parative balance sheet Statem entofrevenues,expenditures,and changes in fund balance -budget(gaap basis)and actua CA PITA L PRO JECTS FUND Com parative balance sheet Statem entofrevenues,expenditures,and changes in fund balance -budget(gaap basis)and actual SUPPLEM ENTA RY INFO RM ATIO N Schedule offindings and questioned costs 2-3 4 5 6 7 8-12 13 14 15 16-18 19 20 21 22 23
H F B ]IU G ItF.BAX LFY.C PA.4 Iq~2fessionalAccounting Corporation H ugh F.Baxley,C PA /PFS/C VA M argareta.pritchard,cpa TerrellI).M artin,cpa Board ofd irectors A scension Parish Library IND EPEN DENT A U DITO RS'R EPO RT W e have audited the accom panying generalpurpose financialstatem ents ofthe Ascension Parish Library,a com ponent unitofthe Ascension Parish Police Jury,as of and forthe yearended Decem ber31,1998 as listed in the table ofcontents.these generalpurpose financialstatem ents are the responsibility ofascension Parish Library m anagem ent. O urresponsibility is to express an opinion on these generalpurpose financialstatem ents based on ouraudit. W e conducted our audit in accordance w ith genera ly accepted auditing standards. Those standards require that w e plan and perform the audit to obtain reasonable assurance about w hetherthe generalpurpose financialstatem ents are free ofm aterialm isstatem ent. A n audit includes exam ining,on a test basis,evidence supporting the am ounts and disclosures in the generalpurpose financialstatem ents.a n auditalso includes assessing the accounting principles used and significantestim ates m ade by m anagem ent,as w e las evaluating the overa lgeneral purpose fin ancialstatem entpresentation.w e believe thatourauditprovides a reasonable basis forouropinion. In ouropinion,the generalpurpose financialstatem ents referred to in the firstparagraph present fairly,in a lm aterialrespects,the financialposition ofa scension Parish Library,as ofdecem ber 31,1998 and the results ofthatfund's operations forthe yearthen ended in conform ity w ith genera ly accepted accounting principles. yearw hich is included forcom parative purposes w as in w hich w e expressed an unqualified opinion on the tatem ents ofthe Ascension Parish Library. t'.o.bo.~48? /5S225 t~elleview D rive /P!aquem ine. Louisiana /70765-0482 /(225)687-6630 /F.4X C25)687-0365
H F B IIU G H F.BAX I.,EY,CPA H ugh F. Baxley,C PA /PFS/C X/A A ProfessionalAccounting CorporaXion M argareta. Pritchard,CI'A TerrellD.M artin.cpa RE'PO RT O N CO M PLIA NC E A ND O N INTERNA L CO NTRO L O VER FINA NCIA L REPO RTING BA SED O N A N A UDIT O F FINA NCIA L STATEM ENTS PERFO RM ED IN A CCO RDA NCE W ITH G O VERNM EN T A UDITIN G S TA NDA RDS Board ofd irectors A scension Parish Library W e have audited the generarpurpose financialstatem ents ofthe Ascension Parish Library,a com ponentunitofa scension Parish Police Jury as ofand forthe yearended Decem ber31,1998, and have issued our report thereon dated February 24, 1999. W e conducted our audit in accordance w ith genera ly accepted auditing standards and the standards applicable to financial auditcontained in G overnm entauditing Standards,issued by the Com ptro lerg eneralofthe United States. C om pliance A s part of obtaining reasonable assurance aboutw hetherthe A scension Parish Library's general purpose financial statem ents are free of m aterial m isstatem ent, w e perform ed tests of its com pliance w ith certain provisions oflaw s,regulations,contracts,and grants,noncom pliance w ith w hich could have a directand m aterialefecton the determ ination offinancialstatem entam ounts. However,providing an opinion on com pliance with those provisionswasnotan objective ofour auditand,accordingly,w e do notexpress such an opinion. The results ofourtests disclosed no instances of noncom pliance that are required to be reported under G overnm ent A uditing Standards. nternalc ontrolo verfinancialredortina In planning and perform ing our audit,w e considered A scension Parish Library's controlover financialreporting in orderto determ ine ourauditing procedures forthe purpose ofexpressing our opinion on the generalpurpose financialstatem ents and notto provide assurance on the internal controloverfinancialreporting. However,w e noted no m atters involving the internalcontrolover financialreporting and its operation thatw e considerto be reportable conditions. Reportable conditions involve m atters com ing to ourattention relating to significantdeficiencies in the design oroperation ofthe internalcontroloverfinancialreporting that,in ourjudgment,could adversely afecta scension Parish Library's ability to record,process,sum m arize and report financialdata consistent w ith the assertions of m anagem ent in the general purpose financialstatem ents. Reportable conditions are described in the accom panying schedule offindings and questioned costs as item 98-1. A m aterialw eakness is a condition in w hich the design oroperation ofone orm ore ofthe internal controlcom ponents does notreduce to a relatively low levelthe risk thatm isstatem ents in am ounts thatw ould be m aterialin relation to the generalpurpose financialstatem ents being audited m ay occurand notbe detected w ithin a tim ely period by em ployees in the norm alcourse ofperform ing theirassigned functions. O urconsideration ofthe internalcontroloverfinancialreporting w ould notnecessarily disclose a lm atters in the internalcontrolthatm ightbe reportable conditions and, accordingly,w ould notnecessarily disclose a lreportable conditions thatare also considered to be m aterialw eaknesses. How ever,w e believe none ofthe reportable conditions described above is a m aterialw eakness. P.O,Boa 482 /58225 Bellevie~*D rive /Piaquem ine, Lom~ana/70765-0482/(225)687-6630 /FAX (225)687~0365
anagem entand the Legislative A uditors. H ow ever distribution is notlim ited.
CO M PO NENT UNIT FINA NCIA L STATEM ENTS (COMBINED STATEMENTS -OVERVIEW )
ASCENSION PARISH LIBRARY COM BINED STATEM ENT OF REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCES--ALL GOVERNM ENTAL FUND TYPES FOR THE YEAR ENDED DECEM BER 31,1998 W ITH COM PARA TIVE TOTALS FOR DECEMBER 31.1997 General Fund Capital Pr~ecta Fund 1998 Totals Mem orandum Only REVENUES Taxes--ad valorem Federalgrant Intergovem m entalrevenues: State Revenue Sharing State-aid libraries Fees and chalges forlibrary services Fines and forfeitures (Library) Use ofm oney and property Contributions Otherrevenues TOTAL REVENUES $1,469,181 10.000 190,604 23,787 14,499 15,598 47,909 14,021 102,345 91 1,874,014 14.021 $1,469,181 $1,401,332 10.000 190,604 23,787 14,499 15,598 61,930 102,345 91 1,888,035 184,192 23,212 15,542 15,018 67.240 1.347 1,707,889 EXPENDITURES Culture and recreation--libraries: Library adm inistration Operating serv ices Travel Capitaloutlay Library m aterials and supplies Intergovernm ental TOTAL EXPENDITURES 808,730 268,209 12,270 444,857 43,184 47.945 1,625,195 503,555 503.555 806,730 266,209 12,270 946,412 43,184 47.945 2.126.750 727,233 239,278 9,042 505,246 35,901 45.953 1,562,743 EXCESS (DEFICIENCY)OF REVI-NUES OVER EXPENDITURES 248,819 (489,534) (240,715) 145,146 OTHER FINANCING SOURCES (USES) Operating transfers in(out) 141,992) 141,992 EXCESS (DEFICIENCY)OF REVENUES AND OTHER SOURCES OVER EXPENDITURES AND OTHER USES 106,827 (347,542) (240,715 145,146 FUND BALANCE,Beginning 2,087,121 393,088 2,480,209 FUND BALAhlCE,Ending $2,193,946 $45,546 $2,236,494 $2,480,209 The accom panying notes are an integralpartofthis statem ent
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A SC ENSIO N PA R ISH LIBRA RY N O TES TO FINA NC IA L STA TEM ENTS D EC EM B ER 31,1998 NO TE 1 -SU M M A RY O F S IG N IFICA NT A C C O U NTING PO LIC IES The Ascension Parish Library w as established by the parish governing authority, under the provisions oflouisiana Revised Statute 25:211.The library provides citizens ofthe parish access to library m ateha~s,books,m agazines,records and film s. The library is governed by a board of controlwhich is appointed by the parish police juryin accordance with the provisions oflouisiana Revised Statute 25:214. The m em bers ofthe board ofcontrolserve w ithoutpay. In Aprilof1984,the FinancialAccounting Foundation established the G overnm entala ccounting StandardsBoard (GASB)to promulgate generaly accepted accounting principlesand reporting standards w ith respectto activities and transactions ofstate and localgovernm entalentities. In Novem berof 1984,the GASB issued a codification ofgovernm entalaccounting and financial reporting standards. This codification is recognized as genera ly accepted accounting principles forstate and Ioca~gOVernm ents. In conform ance w ith G ASB C odification Section 2100,the parish library is a com ponentunitofthe A scension Parish Police Jury,the governing body ofthe parish and the governm entalbody w ith oversight responsibility.the accom panying financialstatem ents presentinform ation only on the fundsmaintained by the parish library and do notpresentinformation on the police jury,and the generalgovernm entservices provided by thatgovernm entalunit,and othergovernm entalunits that com prise the governm entalreporting entity. A,Fund A ccounting The accounts ofthe library are organized on the basis offunds and accountgroups,each ofw hich is considered a separate accounting entity. The operations ofeach fund are accounted forw ith a separate setofself-balancing accounts thatcom prise its assets,liabilities,fund equity,revenues, and expenditures. Revenues are accounted forin these individualfunds based upon the purpose forw hich they are to be spentand the m eans by w hich spending activities are contro led. The funds presented in the financialstatem ents are described as fo low s: GeneralFund The G enerajfund is the generaloperating fund ofthe library. Jtis used to accountfor aj financialresources exceptthose required to be accounted forin otherfunds. CapitalProjects Fund The CapitalProjects Fund is used to accountforfinancialresources dedicated to the acquisition orconstruction ofmajorcapitalfacilitiesorothercapitalexpenditures.
ASCENSIO N PA RISH LIBRARY NOTES TO FINA NCIAL STATEM ENTS B and Eauigm entand Lon(~-Term Liab The fixed assets used in the G overnm entalfund Type operations ofthe library are accounted for in the G eneralfixed A ssets A ccountg roup,ratherthan in governm entalfunds. N o depreciation has been provided on generalfixed assets. A lfixed assets are valued at historicalcost or estim ated historicalcostifhistoricalcostis notavailable. There are no capitalizable interestcosts The accountgroup is nota "fund". Itis concerned only w ith the m easurem entoffinancialposition and is notinvotved w ith m easurem entofresults ofoperations. The Iong-lerm debtofthe library is accounted forin the G enerallong-term DebtA ccountg roup ofthe A scension Parish Police Jury. C.Basis ofa ccounting Basis ofaccounting refers to w hen revenues and expenditures are recognized and reported in the financialstatem ents. Basis of accounting relates to the tim ing ofthe m easurem ents m ade, regardless ofthe m easurem entfocus applied. The records ofthe library have been m aintained on a cash basis ofaccounting;how ever, the funds as reported in the accom panying financialstatem ents have been converted to a m odified accrual basis ofaccounting utilizing the follow ing practices: Revenues Ad valorem taxesand the related State revenue sharing (which isbased on population and homesteads in the parish)are recorded in the yearthe taxesare assessed.ad valorem taxes are assessed on a calendaryearbasis,becom e due on Novem ber15 ofeach year and becom e delinquenton Decem ber3"1. The taxes are genera ly co lected in Decem ber ofthe currentyearand January and February ofthe ensuing year. Interestincom e on investm ents is recorded w hen the investm ents have m atured and the incom e is earned. Substantia ly a lotherrevenues are recorded w hen received Exp enditures Expenditures are genera ly recognized underthe m odified accrualbasis ofaccounting w hen the related fund liability is incurred.
ASCENSIO N PA RISH LIBRARY NO TES TO FINA NCIA L STATEM ENTS D.B _ udgetar~ Practices Annua ly tile Ascension Parish Library adopts a budgeton the m odified accrualbasis ofaccounting forthe G eneralfund. The budgetary practices include public notice ofthe proposed budgets, public inspection ofthe proposed budgets,and public hearings on the budgets. A lbudgetary appropriations lapse atthe end ofthe fiscalyear.the levelatw hich expenditures m ay notlega ly exceed appropriations is 5% ofbudgeted expenditures. In 1998,the Ascension Parish Library approved construction of additions to the G onzales, Donaldsonvile,and G alvez libraries. The construction began in A pdl"1998 and w as not yet com pleted by the end of1998. E.investm ents Investm ents are stated atcostoram ortized cost,w hich approxim ates m arket.these investm ents are tim e deposits and treasury bils w hich are fu ly secured through the pledge ofbank-ow ned securities,federaldepositinsurance,orby the federalgovernm ent. F.Vacation and Sick Leave Fu l-tim e em ployees ofthe library earn vacation leave afterone yearofservice atvarying rates depending on type ofposition. Vacation leave can be accum ulated up to one and one-halfofthe am ountearned in one year. Em ployees w ho resign are paid forunused vacation leave, provided adequate notice ofresignation is given. Sick leave is granted fu l-tim e em ployees atthe rate of tw elve days each year. Sick leave can be accum ulated up to thirty-six days. Upon term ination of em ploym ent,unused sick leave lapses. The fo low ing reflects change in accum ulated sick and annualleave G enerallong-term DebtG roup Balance at12-31-97 increase in leave Balance at12-31-98 $31,932 5,033 $36,965 G.TotalC olum ns on Statem ents--o verview The totalcolum ns on the statem ents -overview are captioned M em orandum O nly to indicate that they are presented only to facilitate financialanalysis. Data in these colum ns do not present financialposition or results of operations, in conform ity w ith genera ly accepted accounting principles. Neitheris such data com parable to a consolidation. l o
ASCENSIO N PA RISH LIBRA RY NO TES TO FINA NCIA L STATEM ENTS NO TE 2:C HA NG ES IN G EN ERA L FIXED A SSETS A sum m ary ofchanges in generalfixed assets fe low s Balance Decem ber31, 1997 Additions Deletions Balance Decem ber31 1998 Land Buildings Im provem ents otherthan buildings Equipmentand furniture Autom obile Library books Prints,film s,and recordings Construction in progress $224,386 3,024,777 188,160 95t,691 32,805 2,314,598 89.062 188,259 244,483 21,237 494.425 35.751 $224,386 3,024,777 188,160 1,139,950 32,805 2,523,330 110,299 494.425 TOTAL $948,404 N O TE 3:LEV IED TA XES The fo low ing is a sum m ary oflevied ad valorem taxes: Decem ber31, 1998 1997 LeviedMilage(ParishwideMaintenance Tax) 4.22 4.22 N O TE 4:CA S H A N D INV ESTM ENTS The Ascension Parish Library deposits atyearend w ere covered by federaldepository insurance co lateralheld by the library's custodialbank in the library's nam e,orby the backing ofthe U.S federalgovernment.the library 's balance perbank (unreconciled)atdecember31,1998 was $847,459. The totalm arketvalue ofsecurities atdecem ber31,1998 was $2,009,695. NO TE 5:INTER FU N D R EC EIVA BLES.PA YA B LES The fo low ing is an analysis ofinterfund receivables and payables atdecem ber31,1998 FUND DUE FROM FUND DUE TO CAPITAL PROJECTS TOTAL 12-31-98 G eneral 12-31-92 General $8,00B $B,0DB 11
ASCENSIO N PARISH LIBRARY NO TES TO FINA NCIA L STATEM ENTS N O TE 6:Y -2 K C O M PLIA NC E At D ecem ber31,1998,the A scension Parish Library's com putersystem s and otherelectronic equipm enlas they relate to year2000-com pliance is in the rem ediation stage. The library began assessing the year2000 com pliance issues in the fa lof1997.theirareas ofconcern include tim e clocks,security system s,circulation system,com puters forem ployees,and com puters forpublic use. In the area oftim e clocks and security system s,the library has no equipm entthatis date sensitive. The circulation system is already recognizing the year2000 and 2001. In the area ofcom puters, new com puters w ere purchased forem ployees in Septem berof1997. New com puters forpublic use w ere purchased atthe end of1998.the purchases w ere m ade from the Library Corporation forapproxim ately $180,000 and Gateway 2000 forapproxim ately $160,000. Partialfunding was through a grant received in 1998 from G ates Library Foundation and the USDA R uralutilities Services D istance Learning G rant/loan Program in 1999. The Library C orporation and M icrosoftprovide testprogram s to verify Y2K com pliance fortheir softw are and hardw are. The Library anticipates thatvalidation ofy2k com pliance should be com pleted by M ay of1999. 12
FINA NCIA L STATEM ENTS O F INDIVIDUA L FUNDS A ND A CCO UNT G RO UPS 13
G ENERA L FUND 14
ASCENSIO N PARISH LIBRA RY G ENERA L FUND CO M PARA TIVE BALANCE SHEET DECEM BER 31,1998 AND DECEM BER 31,1997 1998 1997 A SSETS C ash and investm ents,atcost Receivable,;(netofalowancesforuncolectibles) Ad valorem taxes State revenue sharing (net) O ther Prepaids $678,280 $665,688 1,465,766 186.945 1,385,064 119.136 15.477 17.070 TOTAL ASSETS $2,346,468 $2,186,958 LIABILITIES A ND FUND EQ UITY Liabilities Accounts payable Contributions to retirem entsystem Payrolltaxes payable Due to CapitalProjectsFund Fund Equity Unreserved--undesignated $98,421 47,945 6.154 TotalLiabilities 152,520 2.193.948 $39,835 45,953 6,041 8.008 99,837 2.087,121 TotalFund Equity 2,193,948 TOTAL LIABILITIES AND FUND EQUITY $2,346,468 2.087.121 $2,186,958 The accom panying notes are an integralpartofthis schedule.15
ASCENSIO N PARISH LIBRARY G ENERAL FUND STATEM ENT O F REVENUES,EXPENDITURES,A ND CHANGES IN FUND BALANCE--BUDGET (GAAP BASIS)AND ACTUAL FO R THE YEARS ENDED DECEM BER 31,1998 W ITH CO M PARATIVE ACTUAL AM O UNTS FO R THE YEAR ENDED DECEM BER 31,1997 Budget REVENUES Ad valorem taxes $1,401,314 Federalgrants 78,703 State revenue sharing 190,000 State-aid libraries 15,549 Fees and charges forlibrary services 12,000 Fines,forfeitures,and lostbooks 12,000 Use ofm oney and property 25,000 Contributions O therrevenues 1,500 TOTA L REVENUES 1,736.066 EXPENDITU RES Decem ber31.1998 Variance Favorable Actua (Unfavorable) $1,469,181 $10,000 100,604 23,787 14,499 15,598 47,909 102,345 91 1,874,014 $67,867 ($68,703) 604 8,238 2,499 3,598 22,909 102,345 (1,409) 137,948 Decem ber31,1997 A ctual $1,401,332 184,192 23,212 15,542 15,018 51.259 1.347 1.691.902 Library Adm inistration Director's salary Professionalsalaries Regularsalaries and w ages Studentsataries Custodialsalaries FICA orsupplem entalretirem ent Retirem entcontributions Life/Health insurance W orkm an's C:ornpensation and Unem ploym ent O perating Services Publication oflegalnotice M em bership dues Printing stationery and form s Book printing and binding Utilities Postage and box rent Telephone Other--(il/lending charges) O ther--g rounds Equipm entrental Book rental 46,278 211,336 465,915 24,000 9,500 55,000 15,000 57,000 4.000 888.029 2,200 1,500 1,200 73,500 9,000 10,000 5OO 27,000 2,800 12.000 46,278 184,227 434,114 5,209 8,720 51,909 15,367 62,073 833 808.730 1,756 91 28 63,382 8,108 14,264 20 23,960 1,300 11.367 27,109 31,801 18,791 780 3,091 (3071 (5,073) 3.167 79,299 444 1,409 1,172 10,118 892 (4,264) 48O 3,040 1,500 633 43,251 163,865 394,181 7,626 7,793 47,180 13,734 48,210 1.393 727,233 1,865 531 90 64,678 6,087 9.524 24,787 1,655 10.404 (continued) 3_6
ASCENSIO N PARISH LIBRARY G ENERA L FUND STATEM ENT O F REVENUES,EXPENDITURES,AND CHANGES IN FUND BALANCE--BUDGE'[(GAAP BASIS)AND ACTUAL FO R THE YEARS ENDED DECEM BER 31,t998 W ITH CO M PA RATIVE ACTUAL AM O UNTS FO R THE YEAR ENDED DECEM BER 31,1997 Operating Services (continued) G rounds m aintenance Adver[ising Telecom m unication Buildings m aintenance A utos and trucks m aintenance Plum bing and heating m aintenance Pestcontrol Laundry and sanitation Janitorial M aintenance furniture and equipm ent M isce laneous Accounting and auditing fees Subscription charge M isce laneous professionalservice Fire and casualty insurance Fidelity bonds Auto insurance Em ployee liability insurance M isce laneous insurance Budget 8,000 5O0 9,O0O 8,000 1,000 22,000 1,200 5OO 8,500 49,000 1,500 6,500 18,000 30,000 23,000 500 5,000 6,000 3.500 341.400 Decem ber31,1998 A ctua 3,040 141 2,213 2,020 1,145 15,997 1,039 28O 7,755 33.461 5,300 15,321 25,693 22,180 152 3,520 4.656 268,209 Variance Favorable (Unfavorable) 4,960 359 6,787 5,980 (145) 6,003 161 220 745 15,539 1,5oo 1,2oo 2,679 4,307 820 348 1,48o 1,344 3.500 73.191 Decem ber31,1997 Actual 1,069 74 1,839 3,398 516 13,736 974 28O 8,537 15,123 41 5,300 11,789 25,789 19,874 162 3,779 4,373 3.013 239.278 Travel 15.000 12,270 2.730 9.042 CapitalO utlay Cars,trucks,etc. EducationlCultura lrecreation equipm enl Buildings/G reunds/g eneralequipm ent O fi ce furniture,fixtures and equipm ent Autom ated and online Books Periodicals Audio and video recordings and film Audio visuals and com m unications Majorrepairs M isce laneous (continued) 12,000 1,000 8,000 40,000 235,009 22,000 21,000 12,000 30.000 381.000 6.703 1,088 163,164 220,091 24,392 20,780 998 7,185 456 444.857 5,297 1,000 6,912 (123,164) 14,909 (2,392) 220 11,002 22,815 (456) (63,857) 7,914 361 1,899 187,507 234,359 24,315 18,440 166 18.448 493.409 3.'7
ASCENSIO N PARISH LIBRARY STATEM ENT O F REVENUES,EXPENDITURES,A ND CHANGES IN FUND BALANCE--BUDGET (GAAP BASIS)AND ACTUAL FO R THE YEARS ENDED DECEM BER 31,1998 W ITH COM PARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,1997 Budget Decem ber31,1998 Variance Favorable A ctual (Unfavorable) Decem ber31,1997 Actua Library M aterials and Supplies Library Ofi ce supplies Olher Operating supplies Building and grounds supplies Vehicle supplies Ed/Rec/Cult.Supplies 11,000 10,000 500 8,000 12,000 1,800 20,000 63,300 14,818 6,665 151 2,964 9,665 1,932 6,989 43.184 (3,818) 3,335 349 5,036 2,335 (132) 13,011 20,116 8,133 5,554 170 2,106 8,908 1,958 9.162 35.991 Intergovernm ental Contributions to retirem entsystem M isce laneous Intergovernm entalservice charge 46,000 1,000 47.000 47.945 47,945 (1,945) 45,953 1,000 (945) 45.953 TOTA L EXPENDITURES 1,735,729 1.625.195 110,534 1,550,906 EXCESS (DEFICIENCY)OF REVENUES AND O THER SO URCES OVER EXPENDITURES AND O'I-HER SOURCES 337 249,819 248,482 140, 998 OTHER FINANCING SOURCES (USES) Operating transfers in (141,992) (141,992) EXCESS (DEFICIENCY)OF REVENUES A ND OTHER SO URCES OVER EXPENDITURES A ND OTHER USES 337 106,827 106,490 140, 996 FUND BALANCE,Beginning FUND BA LANCE,Ending 2,087,121 $2,193,948 1,946,125 $2,087,121 The accom panying notes are an integralpartofthis schedule 16
CA PITA L PRO JECTS FUND 19
ASCENSIO N PARISH LIBRARY CAPITAL PROJECTS FUND CO M PA RATIVE BA LA NCE SHEET DECEM BER 31,1998 AND DECEM BER 31.1997 A SSETS C ash and investm ents,atcost Due from G eneralfund 1998 $91,639 TOTAL ASSETS $91,639 1997 $385,080 8.008 $393,088 LIABILITIE.~;A ND FUND EQ UITY Liabilities Contracts payable Retainage payable $343 45.750 Fund Equity Unreserved-.-undesignated TotalLiabilities 46.093 45.546 TotalFund Equity 45,546 393.088 393.088 TOTAL LIABILITIES AND FUND EQ UITY $91,639 $393,088 The accom panying notes are an integralpartofthis schedule 20
S U PPLEM ENTA RY IN FO R M A TIO N 22
A SC ENSIO N PA R ISH LIB RA RY SC HEDULE O F FINDING S A ND Q UESTIO NED CO STS Y EA R END ED D EC EM B ER 31,1998 A. SUM M A RY O F A UDIT RESULTS FinancialStatem ents Type ofauditor's reportissued:unqualified nternalcontroloverfinancialreporting M alerialw eaknesses identified? Reportable condition identified that are notconsidered to be m aterial w eaknesses? N oncom pliance m aterialto financia statem ents noted? yes X no _ yes no yes X no B. FIN D IN G S -FINA NC IA L STATEM ENTS A UD IT RTA 98-1. BUr)G ET C ondition: In the G eneralfund,operating transfers outw ere notbudgeted n the CapitalProjects Fund,budgeted revenue exceeded actualrevenue by 97 percent C riteria: The actualexpenditures in any ofthe funds should notexceed the estim ated budgeted expenditures by m ore than 5 percentnorshould the budgeted revenue exceed the actual revenues by m ore than 5 percent. Efect: D ue to the large variances,the above funds expended m ore than w as budgeted orreceived few erfunds than w ere budgeted. Recom m endation: C ontinuous eforts by m anagem entshould be m ade to m onitorrevenue and expenditures in relation to the budget. A m endm ents should be m ade as they becom e necessary. M anagem ent's Response: W e w il m onitor the revenues and expenditures m ore closely. Reclassifications and am endm ents w ilbe m ade in the 1999 budget. 23