ZC07 JLT-: 21 PKE:l»6 AVOYELLES PARISH ASSESSOR Financial Report Year Ended December 31, 2006 Under provisions of state law, this report is a public document. A copy 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 '7 //g/Q7
Transcript
ZC07 JLT-: 21 PKE:l»6
AVOYELLES PARISH ASSESSOR
Financial Report
Year Ended December 31, 2006
Under provisions of state law, this report is a publicdocument. A copy of the report has been submitted tothe entity and other appropriate public officials. Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the office of the parish clerk of court.
Release Date '7 //g/Q7
TABLE OF CONTENTS
Page
Independent Auditors' Report 1 -2
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS (GWFS)Statement of net assets 5Statement of activities 6
FUND FINANCIAL STATEMENTS (FFS)Comparative balance sheet - governmental fund 8Reconciliation of the governmental fund balance sheet
to the statement of net assets 9Comparative statement of revenues, expenditures, and changes in fund balance-
governmental fund 10Reconciliation of the statement of revenues, expenditures, and
changes in fund balance of governmental fundto the statement of activities 11
OTHER SUPPLEMENTARY INFORMATIONBudgetary comparison schedule of:
General Fund Expenditures 24
COMPLIANCE AND INTERNAL CONTROLReport on Compliance and on Internal Control
over Financial Reporting Based on an Audit ofFinancial Statements Performed in Accordancewith Government Auditing Standards 26-27
Summary schedule of current and prior year audit findingsand corrective action plan 28
C. Burton Kolder. CPA"Russell F. Champagne, CPA*Victor R. Slaven, CPA*P. Troy Courville, CPA*Gerald A. Thibodeaux, Jr., CPA*Robert S. Carter, CPA*Arthur R. Mixon, CPA"
KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC
Tynes E. Mixon, Jr. CPAAllen J. LaBry, CPAAlbert R. Leger, CPA,PFS,CSA*Penny Angelle Scruggins, CPAChristine L Cousin, CPAMary T. Thibodeaux, CPAMarshall W Guidry, CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Metz, CPAKelly M. Doucet, CPACheryl L. Bartley, CPA, CVAMandy B. Self, CPAChris E Bilski. CPA
Retired:Conrad O. Chapman, CPA* 2006Harry J. Clostio, CPA 2007
CERTIFIED PUBLIC ACCOUNTANTS
P.O. Box 531Marksviile, LA71351
Phone (318) 253-9252Fax (318) 253-8681
INDEPENDENT AUDITORS' REPORT
OFFICES
183 South Beadle Rd.Lafayette. LA 70608
Phone (337) 232-4141Fax (337) 232-8§60
113 East Bridge St. 133 East Waddill StBreaux Bridge, LA 70517 Marksviile, LA 71351Phone (337) 332-4020 Phone (318) 253-9252Fax (337) 332-2887 Fax (318) 253-8681
1234 David Dr. Ste 203 408 West Cotton StreetMorgan City, LA 70380 Villc Platte, LA 70586Phone (985) 384-2020 Phone (337) 363-2792Fax (985) 384-3020 Fax (337) 363-3049
332 West Sixth Av«nue 200 South Main StreetOberfin, LA 70655 Abbeville, LA 70510Phone (337) 639-4737 P hone (337) 893-7944Fax (337) 639-4568 Fax (337) 893-7946
450 East Main StreetNew Iberia, LA 70560Phone (337) 367-9204Fax (337) 367-9208
1013 Main StreetFranklin, LA 70538
Phone (337) 828-0272Fax (337) 828-0290
* A Professional Accounting Corporation WEB SITE;WWW.KCSRCPAS.COM
We have audited the accompanying financial statements of the governmental activities and the majorfund of the Avoyelles Parish Assessor (Assessor), a component unit of the Avoyelles Parish Police Jury, as ofand for the year ended December 31, 2006, which collectively comprise the Assessor's basic financialstatements as listed in the table of contents. These financial statements are the responsibility of the Assessor.Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the UnitedStates of America and the standards applicable to financial audits contained in Government AuditingStandards, issued by the Comptroller General of the United States. Those standards require that we plan andperform the audit to obtain reasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principles used and significantestimates made by management, as well as evaluating the overall financial statement presentation. Webelieve that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, therespective financial position of the governmental activities and the major fund of the Avoyelles ParishAssessor, as of December 31, 2006, and the respective changes in financial position for the year then endedin conformity with accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued a report dated April 19,2007, on our consideration of the Assessor's internal control over financial reporting and our tests of itscompliance with certain provisions of laws, regulations, contracts and grants. That report is an integral partof an audit performed in accordance with Governmental Auditing Standards, and should be read inconjunction with this report in considering the results of our audit.
Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLIC ACCOUNTANTS
Member of:SOCIETY OF LOUISIANA
CERTIFIED PUBLIC ACCOUNTANTS
The required supplementary information on page 22 is not a required part of the basic financialstatements but is supplementary information required by the Governmental Accounting Standards Board.This information has been subjected to the auditing procedures applied in the audit of the basic financialstatements and, in our opinion, are fairly stated in all material respects in relation to the basic financialstatements taken as a whole.
The Avoyelles Parish Assessor has not presented management's discussion and analysis that theGovernmental Accounting Standards Board has determined is necessary to supplement, although not requiredto be part of, the basic financial statements.
Our audit was conducted for the purpose of forming opinions on the financial statements thatcollectively comprise the Assessor's basic financial statements. The accompanying financial informationlisted as "Other Supplementary Information" in the table of contents is presented for purposes of additionalanalysis and is not a required part of the basic financial statements. Such information has been subjected tothe auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairlystated in all material respects in relation to the basic financial statements taken as a whole.
The financial information for the preceding year, which is included for comparative purposes, wastaken from the financial report for that year in which we expressed an unqualified opinion on the financialstatements of the Avoyelles Parish Assessor.
Kolder, Champagne, Slaven & Company, LLCCertified Public Accountants
Marksville, LouisianaApril 19, 2007
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDEFINANCIAL STATEMENTS (GWFS)
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Statement of Net AssetsDecember 31,2006
Current assets:Cash and interest-bearing depositsRevenue receivable
Total current assets
Noncurrent assets:Capital assets, net
Total assets
Current liabilities:Accounts payable
Investment in capital assets
Unrestricted
Total net assets
ASSETS
LIABILITIES
NET ASSETS
GovernmentalActivities
$ 242,185448,377
690,562
132,325
822,887
8,085
132,325
682,477
$ 814,802
The accompanying notes are an integral part of the basic financial statements.
r-l r- ON ^O V*— o -3- r^ '^- cs ^r ON rin ON <•rf i
Gen
eral
rev
enue
s:Pr
oper
ty t
axes
Stat
e re
venu
e sh
arin
gFe
dera
l rev
enue
sha
ring
Inte
rest
ear
ning
s
^^ 00 OO ^i (N^- r- <n— I> <N0 ^^ fSn oo
mw O
i oia
i ge
nera
l re
venu
e
Cha
nge
in n
et a
sset
s
Net
ass
ets
- D
ecem
ber
3 1
, 20
(NOOOr̂"t—i
oow
\DO
Net
ass
ets
- D
ecem
ber
31, 2
0
<;
o d« S
§1o
§d
O
•ccdG,
o-4—1
OdW)d
•^H
>^
iCX
oca
FUND FINANCIAL STATEMENTS (FFS)
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Comparative Balance Sheet - Governmental FundDecember 31, 2006 and 2005
ASSETS
Cash and interest-bearing depositsRevenue receivable-
Ad valorem taxesState revenue sharingOther
General Fund2006
385,63261,254
1,491
2005
$242,185 $224,271
382,13761,936
Total assets $690,562 $668,344
LIABILITIES AND FUND BALANCE
Liabilities:Accounts payable
Fund balance:Unreserved, undesignated
Total liabilities and fund balance
$ 8,085 $ 2,428
682,477 665,916
$690,562 $668,344
The accompanying notes are an integral part of the basic financial statements.
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Reconciliation of the Governmental Fund Balance Sheetto the Statement of Net Assets
December 31,2006
Total fund balance for the governmental fund at December 31, 2006 $ 682,477
Capital assets at December 31, 2006 $ 311,485Less: Accumulated depreciation (179,160) 132.325
Total net assets of governmental activities at December 31, 2006 $ 814,802
The accompanying notes are an integral part of the basic financial statements,
9
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Comparative Statement of Revenues, Expenditures, and Changes in Fund BalanceGovernmental Fund
Years Ended December 31, 2006 and 2005
General Fund
Revenues:Intergovernmental revenues -
Ad valorem taxesState revenue sharingFederal revenue sharingTax roll fees
Informational servicesInterest incomeOther
Total revenues
Expenditures:Current -
General government:Personnel services and related benefitsOperating servicesMaterials and supplies
Capital outlayTotal expenditures
Excess (deficiency) of revenues over expenditures
Other financing source:Proceeds from disposition of assets
Net change in fund balance
Fund balance, beginning
Fund balance, ending
2006
16,561
16,561
665,916
2005
$451,13091,8814,4918,723
16,0189,764
198
582,205
$439,35493,114
3,7038,2185,5656,1332,275
558,362
469,00379,40017,241
-565,644
460,01650,54916,44126,125553,131
5,231
9,000
14,231
651,685
$682,477 $665,916
The accompanying notes are an integral part of the basic financial statements.
10
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Reconciliation of the Statement of Revenues, Expenditures, andChanges in Fund Balance of Governmental Fund
to the Statement of ActivitiesFor the Year Ended December 31, 2006
Total net change in fund balance for the year ended December 31, 2006 perStatement of Revenues, Expenditures, and Changes in Fund Balance $ 16,561
Less: Depreciation expense for the year ended December 31, 2006 (24,105)
Less: Loss on disposition of equipment (174)
Total change in net assets for the year ended December 31, 2006 perStatement of Activities $ (7,718)
The accompanying notes are an integral part of the basic financial statements.
11
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
(1) Summary of Significant Accounting Policies
The accompanying financial statements of the Avoyelles Parish Assessor (Assessor) havebeen prepared in conformity with generally accepted accounting principles (GAAP) as applied togovernmental units. GAAP includes all relevant Governmental Accounting Standards Board (GASB)pronouncements. The accounting and reporting framework and the more significant accountingpolicies are discussed in subsequent subsections of this note.
Such accounting and reporting procedures also conform to the requirements of LouisianaRevised Statutes 24:513 and to the industry audit guide, Audits of State and Local Governments.
The following is a summary of certain significant accounting policies:
A. Financial Reporting Entity
As provided by Article VU, Section 24 of the Louisiana Constitution of1974, the Assessor is elected by the voters of the parish and serves a term of fouryears. The Assessor assesses all real and movable property in the parish, subject toad valorem taxation. In accordance with Louisiana law, the assessor bases real andmovable property assessments on conditions existing on January 1 of the tax year.The assessor completes an assessment listing by May 1 of the tax year and submitsthe list to the parish governing authority and the Louisiana Tax Commission asprescribed by law. Once the assessment listing is approved, the assessor submits theassessment roll to the parish tax collector who is responsible for collecting anddistributing taxes to the various taxing bodies.
The assessor is authorized to appoint as many deputies as may be necessaryfor the efficient operation of the office and provides assistance to the taxpayers ofthe parish. The deputies are authorized to perform all functions of the office, but theassessor is officially and pecuniarily responsible for the actions of the deputies.
This report includes all funds, which are controlled by the Assessor as anindependently elected parish official. Control by or dependence on the Assessor wasdetermined on the basis of general oversight responsibility. The Assessor is fiscallydependent on the Avoyelles Parish Police Jury since the Assessor's office is locatedin the parish government building, the upkeep and maintenance of the parishgovernment building is paid by the Avoyelles Parish Police Jury and certainoperating expenditures of the Assessor's office are paid by the Avoyelles ParishPolice Jury.
As an independently elected official, the Assessor is solely responsible forthe operations of his office, which includes the hiring or retention of employees,authority over budgeting, responsibility for deficits, and the receipt and disbursementof funds.
12
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
B. Basis of Presentation
Government-Wide Financial Statements (GWFS)
The statement of net assets and statement of activities display informationabout the reporting government as a whole. They include the fund of the reportingentity, which is considered to be a governmental activity.The statement of activitiespresents a comparison between direct expenses and program revenues for eachfunction of the Assessor's governmental activities. Direct expenses are those that arespecifically associated with a program or function and, therefore, are clearlyidentifiable to a particular function. Program revenues include (a) fees and chargespaid by the recipients for goods or services offered by the programs, and (b) grantsand contributions that are restricted to meeting the operational or capitalrequirements of a particular program. Revenues that are not classified as programrevenues, including all taxes, are presented as general revenues.
Fund Financial Statements (FFS)
The accounts of the Assessor are organized and operated on the basis offunds. A fund is an independent fiscal and accounting entity with a separate set ofself-balancing accounts. Fund accounting segregates funds according to theirintended purpose and is used to aid management in demonstrating compliance withfinance-related legal and contractual provisions. The minimum number of funds ismaintained consistent with legal and managerial requirements.
The fund of the Assessor is classified as a governmental fund. The emphasison fund financial statements is on major governmental and enterprise funds, eachdisplayed in a separate column. A fund is considered major if it is the primaryoperating fund of the entity or meets the following criteria:
a. Total assets, liabilities, revenues, or expenditures/expenses of thatindividual governmental or enterprise fund are at least 10 percent ofthe corresponding total for all funds of that category or type; and
b. Total assets, liabilities, revenues, or expenditures/expenses of theindividual governmental or enterprise fund are at least 5 percent ofthe corresponding total for all governmental and enterprise fundscombined.
The major fund of the Assessor is described below:
13
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
Governmental Fund -
General Fund
The General Fund, as provided by Louisiana Revised Statute 13:781, is theprincipal fund of the Assessor and is used to account for the operations of theAssessor's office. The various fees and charges due to the Assessor's office areaccounted for in this fund. General operating expenditures are paid from this fund.
C. Measurement Focus/Basis of Accounting
Measurement focus is a term used to describe "which" transactions arerecorded within the various financial statements. Basis of accounting refers to"when" transactions are recorded regardless of the measurement focus applied.
Measurement Focus
On the government-wide statement of net assets and the statement ofactivities, governmental activities are presented using the economic resourcesmeasurement focus. The accounting objectives of this measurement focus are thedetermination of operating income, changes in net assets (or cost recovery) andfinancial position. All assets and liabilities (whether current or noncurrent)associated with its activities are reported. Government-wide fund equity is classifiedas net assets. In the fund financial statements, the "current financial resources"measurement focus is used. Only current financial assets and liabilities are generallyincluded on its balance sheet. Their operating statement presents sources and uses ofavailable spendable financial resources during a given period. This fund uses fundbalance as its measure of available spendable financial resources at the end of theperiod.
Basis of Accounting
In the government-wide statement of net assets and statement of activities,the governmental activities are presented using the accrual basis of accounting.Under the accrual basis of accounting, revenues are recognized when earned andexpenses are recorded as a liability when incurred or when the economic asset isused. Revenues, expenses, gains, losses, assets, and liabilities resulting fromexchange and exchange-like transactions are recognized when the exchange takesplace.
Governmental fund financial statements are reported using the currentfinancial resources measurement focus and the modified accrual basis of accounting.Revenues are recognized as soon as they are both measurable and available.Revenues are considered to be available when they are collectible within the currentperiod or soon enough thereafter to pay liabilities of the current period. For this
14
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
purpose, the government considers revenues to be available if they are collectedwithin 60 days of the end of the current fiscal period. Revenues are classified bysource and expenditures are classified by function and character. Expenditures(including capital outlay) generally are recorded when a liability is incurred, as underaccrual accounting. However, debt service expenditures are recorded only whenpayment is due.
When both restricted and unrestricted resources are available for use, it isthe Assessor's policy to use restricted resources first, then unrestricted resources asthey are needed.
D. Assets, Liabilities and Equity
Cash and interest-bearing deposits
For purposes of the statement of net assets, cash and interest-bearingdeposits include all demand accounts, savings accounts, and certificates of depositsof the Assessor.
Capital Assets
Capital assets, which include property, plant, and equipment, are reported inthe governmental activities column in the government-wide financial statements.Capital assets are capitalized at historical cost or estimated cost if historical cost isnot available. Donated assets are recorded as capital assets at their estimated fairmarket value at the date of donation. The Assessor maintains a threshold level of$500 or more for capitalizing capital assets. The costs of normal maintenance andrepairs that do not add to the value of the assets or materially extend assets' lives arenot capitalized.
Depreciation of all exhaustible capital assets is recorded as an expense inthe statement of activities, with accumulated depreciation reflected in the statementof net assets. Depreciation is provided over the assets' estimated useful lives usingthe straight-line method of depreciation. The estimated useful lives of the furniture,fixtures, and equipment is 3-10 years.
Equity Classifications
In the government-wide statements, equity is classified as net assets anddisplayed in three components:
a. Invested in capital assets, net of related debt - Consists of capitalassets including restricted capital assets, net of accumulateddepreciation and reduced by the outstanding balances of any bonds,
15
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
mortgages, notes, or other borrowings that are attributable to theacquisition, construction, or improvement of those assets.
b. Restricted net assets - Consists of net assets with constraints placedon the use either by (1) external groups such as creditors, grantors,contributors, or laws or regulations of other governments; or (2) lawthrough constitutional provisions or enabling legislation.
c. Unrestricted net assets - All other net assets that do not meet thedefinition of "restricted" or "invested in capital assets, net of relateddebt."
In the fund statements, governmental fund equity is classified as fundbalance. Fund balance is further classified as reserved and unreserved, withunreserved further split between designated and undesignated.
Budgetary and Budgetary Accounting
The Assessor follows these procedures in establishing the budgetary datareflected in the financial statements:
1. A proposed budget is prepared and submitted to the Assessor for thefiscal year no later than fifteen days prior to the beginning of eachfiscal year.
2. A summary of the proposed budget is published and the public isnotified that the proposed budget is available for public inspection.At the same time, a public hearing is called.
3. A public hearing is held on the proposed budget at least ten daysafter publication of the call for a hearing.
4. After the holding of the public hearing and completion of all actionnecessary to finalize and implement the budget, the budget is legallyadopted prior to the commencement of the fiscal year for which thebudget is being adopted.
5. All budgetary appropriations lapse at the end of each fiscal year.
6. The budget is adopted on a basis consistent with generally acceptedaccounting principles (GAAP). Budgeted amounts included in theaccompanying financial statements are as originally adopted or asfinally amended by the Assessor. Such amendments were notmaterial in relation to the original appropriations.
16
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
F. Use of Estimates
The preparation of financial statements in conformity with generallyaccepted accounting principles requires management to make estimates andassumptions that affect the reported amounts of assets and liabilities and disclosureof contingent assets and liabilities at the date of the financial statements and thereported amounts of revenues and expenditures during the reporting period. Actualresults could differ from those estimates.
(2) Cash and Interest-Bearing Deposits
Under state law, the Assessor may deposit funds within a fiscal agent bank organized underthe laws of the State of Louisiana, the laws of any other state in the union, or the laws of the UnitedStates. The Assessor may invest in United States bonds, treasury notes, or certificates and timedeposits of state banks organized under Louisiana law and national banks having principal offices inLouisiana. At December 31, 2006, the Assessor has cash and cash equivalents (book balances)totaling $242,185 in demand deposits.
These deposits are stated at cost, which approximates fair value. Under state law, thesedeposits (or the resulting bank balances) must be secured by federal deposit insurance or the pledgeof securities owned by the fiscal agent bank. The fair value of the pledged securities plus the federaldeposit insurance must at all times equal the amount on deposit with the fiscal agent. Thesesecurities are held in the name of the pledging fiscal agent bank in a holding or custodial bank that ismutually acceptable to both parties. The following is a summary of deposit balances (bank balances)at December 31, 2006, and the related federal insurance and pledged securities:
Total federal insurance and pledged securities $254,189
Pledged securities in Category 3 include uninsured or unregistered investments for which thesecurities are held by the broker or dealer, or by its trust department or agent, but not in theAssessor's name. Even though the pledged securities are considered uncollateralized (Category 3)Louisiana Revised Statute 39:1229 imposes a statutory requirement on the custodial bank to advertiseand sell the pledged securities within 10 days of being notified by the Assessor that the fiscal agenthas failed to pay deposited funds upon demand.
17
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
(3) Capital Assets
Capital asset balances and activity for the year ended December 31, 2006 are as follows:
(4)
(5)
Furniture, fixtures and equipmentAuto's and trucks
Totals
Less: Accumulated depreciation
Net capital assets
Balance01/01/06
$ 292,85021,305
314,155
(157,551)
$ 156,604
Additions
(24,105)
$ (24,105)
Deletions(2,670)
(2,670)
2,496
$ (174)
Balance12/31/2006$ 290,180
21,305
311,485
(179,160)
$ 132,325
Depreciation expense of $24,105 was charged to the general government function.
Vacation and Sick Leave
Employees of the Assessor employed less than two years earn one week of vacation leave peryear. Employees employed two years or more earn two weeks of vacation leave per year. Vacationleave must be used in the year in which it was earned, and any unused vacation leave cannot becarried forward to subsequent years.
All employees of the Assessor earn sick leave of 12 days per year. Extended sick leave dueto extensive hospitalization or family tragedies may be granted at the Assessor's discretion providingthere is no sick leave or annual leave available. Sick leave may be accumulated, and taken in futureyears. However, at termination or retirement, employees are paid only for vacation leaveaccumulated during that year and not for sick leave. At December 31, 2006, the Assessor had nomaterial accumulated leave benefits required to be reported in accordance with GASB Statement No.16, "Accounting for Compensated Absences."
Ad Valorem Taxes
Pursuant to Act 174 of 1990, Louisiana Revised State Statue 47:1925.2 created a specialassessment district to provide ad valorem tax revenue to fund the Assessor's office.
Ad valorem taxes attach as an enforceable lien on property as of January 1 of each year.Taxes are levied in June and billed to the taxpayers by the Avoyelles Parish Sheriff in November.Billed taxes are due by December 31, becoming delinquent on January 1 of the following year. Thetaxes are based on assessed values determined by the Avoyelles Parish Assessor and are collected bythe Sheriff.
18
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
For the year ended December 31, 2006, taxes were levied at the rate of 5.57 mills on propertywith assessed valuations totaling $133,284,630.
Total taxes levied during 2006 were $742,416 of which $284,328 was excluded due tohomestead exemption. Taxes receivable at December 31, 2006 were $385,632.
(6) Pension Plan
Substantially all employees of the Avoyelles Parish Assessor's office are members of theLouisiana Assessors' Retirement System (System), a cost-sharing, multiple-employer, defined benefitpension plan administrated by a separate board of trustees. The System provides retirement,disability and death benefits to plan members and their beneficiaries.
Plan members are required to contribute 8% percent of their annual covered salary to thesystem while the Assessor is required to contribute the statutory rate of 13.5% percent of the totalannual covered salary. The Assessor's contributions to the system for the years ended December 31,2006, 2005 and 2004 were $50,751, $51,317, and $48,399, respectively, equal to the requiredcontributions for each year.
The System issues an annual publicly available financial report that includes financialstatements and required supplementary information for the System. That report may be obtained bywriting to the Louisiana Assessor's Retirement Fund, P.O. Box 1786, Shreveport, LA 71166-1786,or by calling (318) 425-4446.
(7) Deferred Compensation Plan
The Avoyelles Parish Assessor offers its employees participation in the State of LouisianaPublic Employees Deferred Compensation Plan adopted by the Louisiana Deferred CompensationCommission and established in accordance with Internal Revenue Code Section 457. The plan isreported as an agency fund in the State of Louisiana's financial statements. The plan, available to allAssessor employees, permits the employees to defer a portion of their salary until future years. Thedeferred compensation is not available to employees until termination, retirement, death, or proof ofhardship.
All amounts of compensation deferred under the plan, all property and rights purchased withthose amounts, and all income attributable to those amounts, property, or rights are (until paid ormade available to the employee or other beneficiary) solely the property and rights of the State ofLouisiana (without being restricted to the provisions of benefits under the plan) subject only to theclaims of the general creditors of the State of Louisiana. Participants' rights under the plan are equalto those of general creditors of the State of Louisiana in an amount equal to the fair market value ofthe deferred account for each participant.
19
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Notes to the Basic Financial Statements
It is the opinion of management, after consulting with legal counsel, that the AvoyellesParish Assessor has no liability for losses under the plan.
(7) Other Post-employment Benefits
Continuing health care benefits are provided for those retired employees who have reachedthe normal retirement age while employed by the assessor. The benefits for retirees and similarbenefits for active employees are provided through an insurance company with the monthlypremiums being paid solely by the assessor. The assessor recognizes the cost as an expenditure whenpaid during the year. The amount expended for the year ended 2006 was $6,042 per employee forfive employees, totaling $30,210. These expenditures are included in group insurance expense.
(8) Expenditures of the Assessor Paid by the Avoyelles Parish Police Jury
The Avoyelles Parish Police Jury provided the office space and utilities for the Assessor'soffice for the year ended December 31, 2006. These expenditures are not reflected in theaccompanying financial statements.
(9) Risk Management
The Assessor is exposed to risks of loss in the areas of auto and property liability and suretybonds. All of these risks are handled by purchasing commercial insurance coverage. There havebeen no significant reductions in the insurance coverage during the year.
20
REQUIREDSUPPLEMENTARY INFORMATION
21
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Budgetary Comparison ScheduleGeneral Fund
Year Ended December 31, 2006With Comparative Actual Amounts for Year Ended December 31, 2005
2006
Revenues:Intergovernmental revenues -
Ad valorem taxesState revenue sharingFederal revenue sharingTax roll fees
Information servicesInterest incomeOther
Total revenues
Expenditures:Current -
Personnel services andand related benefits
Operating servicesMaterials and supplies
Capital outlayTotal expenditures
Excess (deficiency) of revenuesover expenditures
Other financing source:Proceeds from disposition of assets
Excess of revenues and othersource over expenditures
Fund balance, beginning
Fund balance, ending
BudgetOriginal
$450,00092,500
3,8008,5006,0006,000-
566,800
474,01450,70020,400
5,000550,114
16,686
16,686
665,916
$682,602
Final
$458,08792,2224,4918,723
16,0009,500-
589,023
470,81482,83017,884
-
571,528
17,495
17,495
665,916
$683,411
Actual
$451,13091,8814,4918,723
16,0189,764
198
582,205
469,00379,40017,241
-
565,644
16,561
16,561
665,916
$682,477
Variance withFinal Budget
Positive(Negative)
$ (6,957)(341)--
18264198
(6,818)
1,8113,430
643-
5,884
(934)
(934)
_
$ (934)
2005Actual
$439,35493,114
3,7038,2185,5656,1332,275
558,362
460,01650,54916,44126,125
553,131
5,231
9,000
14,231
651,685
$665,916
22
OTHER SUPPLEMENTARY INFORMATION
23
AVOYELLES PARISH ASSESSORMarksville, Louisiana
Statement of Expenditures Compared to Budget (GAAP Basis) -General Fund
Year Ended December 31, 2006With Comparative Actual Amounts for Year Ended December 31, 2005
Operating services -Professional feesInsuranceTelephoneTravel and conferenceEquipment and lease expense
Total operating services
Materials and supplies -Office supplies and expensePostage and shippingAutomobile supplies and maintenanceDues and subscriptionsUniforms
Total materials and supplies
Capital outlay:Office equipment
Total expenditures
BudgetOriginal
$ 87,740215,000
8,77412,50096,000
1,50052,500
474,014
36,0004,0005,0003,2002,500
50,700
10,0001,8003,6003,5001,500
20,400
Final
$ 87,740213,000
8,77417,00092,000
1,30051,000
470,814
62,3306,0005,5008,0001,000
82,830
8,2843,0003,0003,600-
17,884
Actual
$ 87,740212,744
8,77416,07691,624
1,29450,751
469,003
59,7035,2734,8808,953
591
79,400
7,6832,9822,7163,860-
17,241
Variance -Favorable
(Unfavorable)
$ -256
-924376
6249
1,811
2,627727620
(953)409
3,430
60118
284(260)-
643
5,000
$550,114 $571,528 $565,644 $ 5,884
2005Actual
$ 87,740208,383
8,77411,54590,923
1,33451,317
460,016
38,3843,8394,5872,6881,051
50,549
8,3931,8723,1353,041
16,441
26,125
$553,131
24
COMPLIANCE
AND
INTERNAL CONTROL
25
KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLCc Burton Koider, CPA' CERTIFIED PUBLIC ACCOUNTANTS OFFICESRussell F. Champagne, CPA*Victor R. Slaven, CPA' 183 South Bead|8 Rd
P. Troy Courville, CPA- p Q gQX 531 Lafayette, LA70508Gerald A. Tnibodeaux, Jr., CPA* -TAICA Phone (337) 232-4141Robert S. Carter, CPA- MarKSVllle, LA MOOl Fax (3371 232-8660Arthur R. Mixon, CPA'
113 East Bridge St. 133 East Waddill St.Breaux Bridge, LA 70517 Martwville, LA71351
Tynes E. Mixon. Jr., CPA Fax (318) 253-8681 Phone (337) 332-4020 Phone (318) 253-9252Allen J. LaBry, CPA Fax {337) 332-2867 Fax (318) 253-8681Albert R. Leger, CPA,PFS,CSA'Penny Angelle Scruggins, CPA 1 234 David Dr Ste 203 408 West Cotton StreetChnstme L. Cousin, CPA Morgan City, LA 70380 Ville Platte, LA 70586Mary T. Thibodeaux. CPA phone (985) 384.2020 Phone (337) 363-2792Marshall W. Guidry, CPA F (985) 3S4^o20 Fax (337) 363-3049Alan M. Taylor, CPAJames R. Roy, CPA 332 Wes( Sjxth Avenue 200 South Main StreetRobert J. Metz, CPA Oberlin, UA 70655 Abbeville. LA 70510Kelly M. Doucet , CPA phone (337) 539,4737 p f^ (337) 393,7944Cheryl L. Bartley, CPA, CVA Fax (337) 639-4568 Fax (337) 893-7946Mandy 8. Setf, CPA v ' v '
Chris EBilski. CPA REPORT ON INTERNAL CONTROL OVER 450 East Main Street 1013 Main Street
FINANCIAL REPORTING AND ON COMPLIANCEchapman, cPA-2c« AND OTHER MATTERS BASED ON AN AUDIT OF F«*<337> 367-9208
Harry j.c.ost.0. CPA 2007 FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
We have audited the financial statements of the governmental activities and the major fund of theAvoyelles Parish Assessor, a component unit of the Avoyelles Parish Police Jury, as of and for the yearended December 31, 2006, which collectively comprise the Assessor's basic financial statements and haveissued our report thereon dated April 19, 2007. We conducted our audit in accordance with auditingstandards generally accepted in the United States of America and the standards applicable to financial auditscontained in Government Auditing Standards, issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Avoyelles Parish Assessor's internal controlover financial reporting as a basis for designing our auditing procedures for the purpose of expressing ouropinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness ofthe Assessor's internal control over financial reporting. Accordingly, we do not express an opinion on theeffectiveness of the Assessor's internal control over financial reporting.
Our consideration of internal control over financial reporting was for the limited purpose described inthe preceding paragraph and would not necessarily identify all deficiencies in internal control over financialreporting that might be significant deficiencies or material weaknesses. However, as discussed below, weidentified a certain deficiency in internal control over financial reporting that we consider to be a significantdeficiency.
A control deficiency exists when the design or operation of a control does not allow management oremployees, in the normal course of performing their assigned functions, to prevent or detect misstatements ona timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, thatadversely affects the entity's ability to initiate, authorize, record, process, or report financial data reliably inaccordance with generally accepted accounting principles such that there is more than a remote likelihoodthat a misstatement of the entity's financial statements that is more than inconsequential will not beprevented or detected by the entity's internal control. We consider the deficiency described in theaccompanying summary schedule of current and prior year audit findings and corrective action plan as item04-01 (1C) to be a significant deficiency in internal control over financial reporting.
Member of: Member of:AMERICAN INSTITUTE OF SOCIETY OF LOUISIANACERTIFIED PUBLIC ACCOUNTANTS CERTIFIED PUBLIC ACCOUNTANTS
26
A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that a material misstatement of the financial statements will not beprevented or detected by the entity's internal control.
Our consideration of the internal control over financial reporting was for the limited purposedescribed in the first paragraph of this section and would not necessarily identify all deficiencies in theinternal control that might be significant deficiencies and, accordingly, would not necessarily disclose allsignificant deficiencies that are also considered to be material weaknesses. However, we believe thesignificant deficiency described above is a material weakness.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Avoyelles Parish Assessor's financialstatements are free of material misstatement, we performed tests of its compliance with certain provisions oflaws, regulations, contracts, and grants, noncompliance with which could have a direct and material effect onthe determination of financial statement amounts. However, providing an opinion on compliance with thoseprovisions was not an objective of our audit, and accordingly, we do not express such an opinion. The resultsof our tests disclosed no instances of noncompliance that is required to be reported under GovernmentAuditing Standards.
This report is intended solely for the information and use of management of the Avoyelles ParishAssessor and is not intended to be and should not be used by anyone other than this specified party. Althoughthe intended use of this report may be limited, under Louisiana Revised Statute 24:513, this report isdistributed by the Legislative Auditor as a public document.
Kolder, Champagne, Slaven & Company, LLCCertified Public Accountants
Marksville, LouisianaApril 19, 2007
27
31«a «
G l-o oO o-
ESS
OR
VDC/)<
EL
LE
S PA
RIS
H
>O
<
«I
Mar
ksvi
lle, L
ouii
Yea
r Aud
it Fi
ndi
L-o'C
: of C
urre
nt a
nd P
tLf
3•90-CU
IO.
O
d C
orre
ctiv
e A
cti
G
<&OOCN
-r*iL.
End
ed D
ecem
be
$u>
Cor
rect
ive
Cor
rect
!
.2 w
u «< H
00|
•3
D
a.o
oj -a
§1*j O
"" . Q< EC
N/A
y «.£; os
11•I-a•s |
c .2-
<
2 IO
S S2Q S.
o s*- -°w 3O OHU CD
ca •£
j= oO *- tfl> ,„ "O
£ ' S c 3 f N | : : c T ^ - c : f er ^ - - r r = y o . . ^o e
![O · 2018-03-02 · =`qvsab`o rszzo b]aqo\o 4]\r] /\r`so boqqvw. =`qvsab`o rszzo b]aqo\o 4]\r] /\r`so boqqvw. =`qvsab`o rszzo b]aqo\o 4]\r] /\r`so boqqvw](https://static.documents.pub/doc/80x56/5e926eedf4990e581b3f7a54/o-2018-03-02-qvsabo-rszzo-baqoo-4r-rso-boqqvw-qvsabo-rszzo-baqoo.jpg)
![O · 2018. 4. 4. · =`qvsab`o rszzo b]aqo\o 4]\r] /\r`so boqqvw. =`qvsab`o rszzo b]aqo\o 4]\r] /\r`so boqqvw. =`qvsab`o rszzo b]aqo\o 4]\r] /\r`so boqqvw](https://static.documents.pub/doc/80x56/6129f0f2f0b6560cb8570017/o-2018-4-4-qvsabo-rszzo-baqoo-4r-rso-boqqvw-qvsabo-rszzo-baqoo.jpg)
