louisianaapp.lla.la.gov/publicreports.nsf/c6e982ebb2d0cc...c^usl report plaquemines parish school...

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R E P O R T

PLAQUEMINES PARISH SCHOOL BOARD

JUNE 30,2010

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 derk of court.

Release Date / / / f / ^ /


INDEX TO REPORT

JUNE 30,2010

PAGE

INDEPENDENT AUDITOR'S REPORT 1 - 2

REQUIRED SUPPLEMENTARY INFORMATION - Part 1:

Management's Discussion and Analysis 3 - 9

BASIC FINANCIAL STATEMENTS:

Govemment-wide Financial Statements:

Statement of Net Assets 10

Statement of Activities 11

Fund Financial Statements:

Balance Sheet - Governmental Funds 12

Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets : 13

Statement of Revenues, Expenditures and Changes in Fund Balances -Govemmental Funds 14 -15

Reconciliation of the Goveinmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities 16

Statement ofFiduciary Net Assets 17

Notes to the Financial Statements 18-43

REQUIRED SUPPLEMENTARY INFORMATION - Part U:

Budgetary Comparison Schedules:

General Fund 44-45

Schedule of Funding Progress for the Other Postemploymcnt Benefit Plan 46

OTHER SUPPLEMENTAL INFORMATION SCHEDULES:

Nonmajor Govemmental Funds:

Nonmajor Fund Descriptions 47 - 52

Combining Balance Sheet 53 - 54

Combining Statement of Revenues, Expenditures and Changes in Fund Balance 55 - 56

PAGE OTHER SUPPLEMENTAL INFORMATION SCHEDULES: (Continued)

Fiduciary Funds:

Schedule of Changes in Assets and Liabilities - School Activity Agency Fund 57

Schedule of Compensation Paid To Board Members 58

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 59-60

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 61 - 62

SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 63 - 64

NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 65

SCHEDULE OF FINDINGS AND QUESTIONED COSTS 66 - 68

SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS 69-71

SCHEDULES REQUIRED BY STATE LAW:

Independent Accountant's Report on Applying Agreed Upon Procedures 72 - 75

Schedule 1 ~ General Fund Instructional and Support

Expenditures and Certain Local Revenue Sources 76 - 77

Schedule 2 - Education Levels of Public School Staff 78

Schedule 3 - Number and Type of Public Schools 79

Schedule 4 - Experience of Public School Principals, Assistant Principals

and Full-Time Classroom Teachers 80

Schedule 5 - Public School Staff Data: Average Salaries 81

Schedule 6 - Class Size Characteristics 82

Schedule 7 - Louisiana Educational Assessment Program (LEAP).; 83 - 84

Schedule 8 - Graduate Exit Examination (GEE) 85

Schedule 9 - The iLeap Tests 86 - 94

MICHAEL i . O'ROVniKE, C P A WIUJAM G. STAMM, C.P.A. CLIFFORD J. GIFFIN, JR. C.P.A. DAVID A. BURGARD. C.P.A-LINDSAV J. CALUB, C.P.A., LL.C. GUY L. DUPLANTIER. C.P.A. MICHELLE H. CUNNINGHAM, C.P.A PENNIS'W.PtLLQN.C.P.A.

ANNH.HEBERT.C.I'.A. CRADV C. LLOYD, III. C.P.A. HENRY L. SILVIA, C.P.A..

D U P L A N T I E R , H R A P M A N N , H O G A N & M A H E R , L.L.P.

CERTIFIED PUBLIC ACCOUNTANTS

AJ. DUPLANTIER iR,CP.A. 09I9-19«5)

FELIX J. HRAPMANN, JR. C.P.A. (1919-1990)

WILLIAM R. HOGAN, JR. C.P.A. (1920-1996)

JAMES MAHER, JR. C.P.A. <mt - iq«W\

MEMBERS AMERICAN INSTITUTE OF

CERTIFIED PUBLIC ACCOUNTANTS SOCIETY OF LA C.P.A. "S

INDEPENDENT AUDITOR'S REPORT

December 17,2010

Plaquemines Parish School Board P. O. Box 69 Belle Chasse, LA 70037

We have audited the accompanying financial statements of the govemmental activities, the major fimd and the aggregate remaining fimd information of the Plaquemines Parish School Board as of June 30, 2010 and for the year then ended, which collectively comprise the School Board's basic financial statements as listed in the index to the report. These financial statements are tiie responsibility of the management of Plaquemines Parish School Board. Our responsibility is to express opinions on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of Office of Management and Budget Circular A-133, Audits of States, Local Governments and Nonprofit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about wheti\er the fmancial statements are fi:ee of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating tiie overall financial statement presentation. We believe tiiat our audit provides a reasonable basis for our opinions.

In our opinion, the financial statements referred to above present fairly, in all material respects, tiie financial position of tiie govemmental activities, tiie major fiind and tiie aggregate remaining fiind information of tiie Plaquemines Parish School Board as of June 30. 2010, and the respective changes in financial position tiiereof for tiie year tiien ended, in conformity with accounting principles generally accepted in the United States of America.

1615 Poydras Street, Suite 2100 New Orleans, LA 70112 • (504)586-8866- Fax (504) 525-5888 1670 Old Spanish Trail Slidell, LA 70458 • (985)649-9996- Fax (985)649-9940 247 Corporate Drive Houma, LA 70360 • (985)868-2630- Fax (985) 872-3833

wwvv.dhhmcpa.com

http://wwvv.dhhmcpa.com

Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and budgetary comparison information on pages 3 -9 and 44- 45 be presented to supplement the basic financial statements. Such information, altiiough not a part of the basic financial statements, is required by the Govemmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Our audit was conducted for the purpose of forming an opinion on the basic financial statements as a whole. The required supplementary information on page 46, as required by the Government Accounting Standards Board, and the accompanying schedule of expenditures of federal awards, as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not required parts of the financial statements. The other supplementary information schedules on pages 47-58 and schedules required by state law on pages 72 - 94, are presented for purposes of additional analysis and are also not a required part of the financial statements. The required supplementary information on page 46, the schedule of expenditures of federal awards, the other supplementary information, and the schedules required by state law are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the required supplementary information on page 46, the schedule of expenditures of federal awards, and the other supplementary information are fairly stated in all material respects in relation to the financial statements as a whole. The schedules required by state law have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.

In accordance with Government Auditing Standards, we have also issued our report dated December 17,2010 on our consideration of the Plaquemines Parish School Board's intemal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is to describe the scope of our testing of intemal control over financial reporting and compliance and the results of tiiat testing, and not to provide an opinion on the intemal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.

S)upiantiefc, ^fimpmann, Siagxai S, Mahex, Jt£iP

PLAQUEMINES PARISH SCHOOL BOARD MANAGEMENT'S DISCUSSION AND ANALYSIS

AS OF JUNE 30.2010

The Management's Discussion and Analysis (MD&A) of the Plaquemines Parish School Board's financial performance presents a narrative overview and analysis of the school board's financial activities for the year ended June 30, 2010. This document focuses on the current year's activities, resulting changes, and currently known facts in comparison with the prior year's information.

Financial Highlights

• The Plaquemines Parish School Board's assets exceeded its liabilities at June 30, 2010 by $103,037,313.

• Net assets increased by $12,608,803 for tiie year ended June 30,2010.

• At June 30, 2010, the school board's govemmental fimds reported ending fimd balances of $53,250,293, an increase of $1,207,916 from tiie prior year.

• The school board's total liabilities at June 30, 2010 were $37,114,975 in comparison to $30,564,843 at June 30, 2009.

The following graphic illustrates the minimum requirements for school districts established by Govemmental Accounting Standards Board Statement 34, Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments.

Management's Discussion and Analysis

Required supplementary information (otiier tiian MD&A)

These financial statements consist of three sections - Management's Discussion and Analysis (this section), tiie basic financial statements (including tiie notes to the financial statements), and required supplementary information.


AS OF JUNE 30.2010

Government-Wide Financial Statements

The govemment-wide financial statements are designed to provide readers witii a broad overview of the school board's finances, in a maimer similar to private-sector business.

The statement of net assets presents information on all of the school board's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the school board is improving or deteriorating.

The statement of activities presents information showing how the school board's net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of the cash flows. Thus, revenues and expenses reported in this statement for some items will only result in cash flows in future periods (e.g. uncollected taxes and earned but unused sick leave).

Both of the govemment-wide financial statements present functions of the school board that are principally supported by taxes and intergovernmental revenues (govemmental activities). The school board has no functions or activities which are business-like in nature, meaning that they are primarily supported by user fees and charges for services, such as a municipally owned utility system. The govemmental activities of the school board include regular and special education programs, support services, administration, maintenance, student transportation, and school food services. The school board contains no other units of government (component units) nor is it contained as a component unit of any other level of local or state government.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The school board, like other state and local governments, uses fimd accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the fimds of the school board can be divided into two categories: govemmental funds and fiduciary fiinds.

Govemmental funds are used to account for essentially the same functions as govemmental activities in the govemment-wide financial statements. However, unlike the govemment-wide financial statements, govemmental fund financial statements focus on the near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a govemment's near-term financing requirements.


AS OF JUNE 30. 2010

Because the focus of govemmental funds is narrower than that of the govemment-wide financial statements, it is useful to compare the information presented for govemmental funds with similar information presented for govemmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the school board's near-term financing decisions. Both the govemmental fund balance sheet and the govemmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and govemmental activities.

The school board maintains many individual govemmental funds. Information is presented separately in the govemmental fund balance sheet and in the govemmental fund statement of revenues, expenditures and changes in fimd balances for the General Fund, which is considered a major fund. The remaining funds are combined into a single, aggregated presentation under the label of other govemmental funds, which contains all non-major funds. Individual fimd data for each of these non-major fiinds is provided in the form of combining statements elsewhere in this report.

Fiduciary fiinds are used to account for resources held for the benefit of outside parties such as students. Fiduciary funds are not reflected in the govemment-wide financial statements because the resources of those fimds are not available to support the school board's programs. The sole fiduciary fund of the school board is the School Activity Fund, which contains monies belonging to the schools, tiieir students, and clubs and other activities.

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the govemment-wide and fund financial statements.


AS OF JUNE 30.2010

Financial Analysis of the Entity

Statement of Net Assets as of June 30. 2010 and 2Q09

2010 2009

Current and otiier assets $ 65,283,862 $ 62,358,976 Investments 3,816,364 1,792,406 Capital assets 71,052.062 56.841.971

Total assets 140.152.288 120.993.353

Otiier liabilities 9,037,190 7,771,275 Otiier postemploymcnt benefits payable 14,351,625 7,803,075 Compensated absences payable 2,458,966 2,391,480 Loans payable 5,941,194 5,987,013 Bonds payable 5,326,000 6.612.000

Total liabilities 37.114.975 30.564.843

Net assets: Invested in capital assets, net of debt 65,474,062 49,932,154 Restricted: v

Debt Service 9,191,954 7,439,694 Otiier 234,647 599,636

Unrestricted 28.136.650 32.457.026 Total net assets S 103.037.313 $ 90.428.510

Capital assets, which are reported net of accumulated depreciation, account for 51% of total assets.

Bonds payable account for 14% of total liabilities and the other postemploymcnt benefits payable accounts for 39% of total liabilities.

Net assets invested in capital assets, net of debt, account for 63% of total net assets.

Total net assets have increased 14% from the prior year.


MANAGEMENT'S DISCUSSION AND ANALYSIS AS OF JUNE 30.2010

Changes in Net Assets For tiie Years Ended June 30,2010 and 2009

2010 2009 REVENUE: Program revenues:

Charges for services Operating grants and contributions Capital grants and contributions

General revenues: Ad Valorem taxes Sales taxes Interest and investment eamings Minimum Foundation Program State revenue sharing Otiier

Total revenue

EXPENDITURES: Regular education Special education Other education Pupil support Instmctional staff support General administration School administration Business services Operations and maintenance Student transportation Central services Food service Community service programs Capital outiay Interest on long-term debt Otiier

Total expenditures Excess (deficiency) of revenues over expenses

Change in Net Assets

• Capital grants and contributions increased as a result of the initial stages of the constmction phase for Hurricane Katrina related to permanent building constmction.

$ 276,221

11,834,316

16,378,537

20,205,915

16,828,632

175,801 12,620,250

92,052 186.954

78.598.678

23,979,360 9,405,454

434,516 2,391,962

4,083,472

1,890,283 2,495,518

1,354,278 7,955,262 4,904,416 1,866,084 3,270,177 126,967

1,352,020

395,856 84.250

65,989.875 $ 12.608.803

$ 241,077

8,643,644

6,345,638

18,465,690 16,797,966

585,941

12,729,317

112,007 203,246

64.124,526

24,118,267

9,634,165

652,887

2,264,287

3,148,339

2,528,677 2,801,864 1,155,429

10,857,423 5,411,924 1,179,838 3,119,483

78,925 42,961

447,448 863,192

68,305,109 $ f4.180.5831


AS OF JUNE 30.2010

Operating grants and contributions increased due to a recovery grant that reimbursed the school board for over $3 million of expenses incurred in prior years.

Operations and maintenance expense decreased due to a decrease in the expenses necessary to operate and maintain the system's schools now operating in temporary facilities.

Capital Assets and Debt Administration

Capital Assets

At June 30, 2010, the Plaquemines Parish School Board had $88,489,082 invested in a broad range of capital assets, including land, buildings and improvements, equipment and vehicles.

This amount represents a net increase (including additions and deductions) of $16,511,042, or 23% over the prior year. The major additions for the year were constmction in progress on buildings to replace those destroyed by Hurricane Katrina.

Capital Assets (Net of Depreciation)

June 30, 2010

$ 2,531,474 :nts 43,332,833

2,462,919 3,449,200

19.275.636 $71,052,062

June 30, 2009

$ 2,531,474 44,151,117

3,032,693 3,510,452 3.616.235

$56,841,971

Land Buildings and improvements Furniture and equipment Transportation equipment Constmction in progress

Totals

Long Term Debt

The school board had $5,326,000 in bonded debt outstanding at June 30, 2010, compared to $6,612,000 at June 30, 2009, a decrease of $1,286,000, or 19%. The net decrease results from tiie payment of principal on outstanding bonds.

The school board had $5,941,194 in loans outstanding at June 30, 2010, compared to $5,987,013 at June 30, 2009, a decrease of $45,819 or 1%.. The decrease results from payment of principal on the QZAB Loan.


AS OF JUNE 30.2010

Variations Between Original and Final Budgets

• The budgeted amount for ad valorem taxes was increased between the original and final budgets in order to take into account the increased amount of ad valorem taxes which were assessed during the fiscal year.

• The budgeted amount for sales taxes was decreased between the original and final budgets in order to account for the anticipated slowdown of the economy, which, in fact, did not resuU in lower sales tax revenues. The amount of sales tax revenues for the year actually increased over the amount in the original budget.

• The amount of Federal revenues was decreased between the original and final budgets to account for delays in receiving FEMA revenues to be used for the rebuilding of schools and other buildings.

• The budgeted amount of expenditures for operations and maintenance was decreased between the original and final budgets, also because of the delays encountered during the rebuilding process.

Economic Factors and Next Year's Budget

The Plaquemines Parish School Board's elected officials and management considered the following factors and indicators when setting the budget for the year ended June 30, 2011:

• For fiscal year 2011, the School Board has taken a conservative approach with respect to budgeting local sources of revenue. The budget for fiscal year 2011 includes a decrease in ad valorem and sales taxes due to the effects which the slowdown in the national economy may have on the local sales and ad valorem tax revenues.

• The fiscal year 2011 budget includes increased Federal revenues from FEMA to help fund the constmction of new permanent buildings, as well as a corresponding increase in the expenditures for these constmction costs.

Contacting tbe Plaquemines Parish School Board's Management

This financial report is designed to provide a general overview of the Plaquemines Parish School Board's finances for those with an interest in the school board's financial position and operations. Questions conceming any of the information provided in this report or requests for additional financial information should be addressed to Denis A. Rousselle, Superintendent, Plaquemines Parish School Board, P. 0. Box 69, Belle Chasse, Louisiana 70037.

PLAQUEMINES PARISH SCHOOL BOARD STATEMENT OF NET ASSETS

•TUNE 30. 2010

ASSETS; Cash and cash equivalents $ 37,973,201 Investments 2,587,103 Prepaid expenses 1,369,737 Receivables 17,945,379 Accmed interest receivable 19,634 Inventories 53,262 Restricted assets:

Cash and cash equivalents 7,43 8,414 Investments 1,229,261 Receivables 484,235

Capital assets (Net of accumulated depreciation) 71,052,062

TOTAL ASSETS 140,152,288

LIABILITIES: Accounts payable and accmed expenses 2,185,426 Cash overdraft 83,416 Salaries/deductions payable 5,663,031 Insurance claims payable 363,765 Interest payable 741,552 Long-term liabilities:

Due within one year 7,189,312 Due in more than one year 20,888,473

TOTAL LIABILITIES 37,114,975

NET ASSETS: Invested in capital assets, net of related debt 65,474,062 Restricted for:

Debt service 9,191,954 Otiier 234,647

Unrestricted 28,136,650

TOTAL NET ASSETS $ 103,037,313

See accompanying notes.

PLAQUEMINES PARISH SCHOOL BOARD STATEMENT OF ACTIVITIES

FOR THE YEAR ENDED JUNE 30.2010

FUNCTIONS/PROGRAMS Govemmental Activities Instruction: Regular Programs Special Programs Vocational Education Other Instructional Programs

Support services: Pupil Support Instructional Staff Support General Administration School Administration Business Services Operations & Maintenance Student Transportation Central Services Food Services Program Community Service Program

Capital Outlay Miscellaneous Interest on long-term debt

Total Govemmental Activities

Expenses

$ 23,979,360 $ 9,405,454

106,491 328,025

2,391,962 4,083,472 1,890,283 2,495,518 1,354,278 7,955,262 4,904,416 1,866,084 3,270,177

126,967 1,352,020

84,250 395,856

$ 65,989,875 $

Taxes: Property taxes Sales and use State revenue

Program Revenues

Charges for Services

- $ ---

--------

276,221 ----

276,221 $

Operating Grants and

Contributions

3,682,613 $ 3,566,418

44,397 267,192

361,769 2,056,023

172,967 288,893

2,597 5,527

53,155 -

1,289,765 --

43,000 -

11,834,316 $

;, levied for general purposes taxes, levied for general purposes sharing

Capital Grants and

Contributions

-2,032,121

--

-----

1,408,947 ----

12,937,469. --

16,378,537

Grants and contributions not restricted to specific purposes: Minimum Foundation Program

Interest and investment eamings Miscellaneous Gain on disposal of assets

Excess (deficien

Total general revenues

cy) of revenues over expenses

Net assets at beginning of year

Net assets at end of year

Net (Expense) Revenue and Changes in Net Assets

$ (20,296,747) (3,806,915)

(62,094) (60,833)

(2,030,193) (2,027,449) (1,717.316) (2,206,625) (1,351,681) (6,540,788) (4,851,261) (1,866,084) (1,704,191)

(126,967) 11,585,449

(41,250) (395,856)

(37,500,801)

20,205,915 16,828,632

92,052

12,620,250 175,801 170,023

16,931

50,109,604

12,608,803

90,428,510

S 103,037,313


PLAQUEMINES PARISH SCHOOL BOARD GOVERNMENTAL FUNDS

BALANCE SHEET JUNE 30. 2010

ASSETS Cash (Note 12) Cash equivalents (Note 12) Investments (Note 12) Prepaid expenses Accounts receivable (Note 4) Interfund receivables (Notes 1 and 7) Accrued interest receivable Advances to Special Revenue Funds (Notes 1 and 7) Inventory (Note 1)

TOTAL ASSETS

General Fund

$ 15,029,140 J 19,521,680 2,176,599 1,216,819

16,340,895 2,527,321

11,282 870,400

-$ 57,694,136 3

Other

Govemmental

; 2,882,294 $ 7,978,501 1,639,765

152,918 2,088,719

544,101 8,352

-53,262

; 15,347,912 $

Total

17,911,434 27,500,181

3,816,364 1,369,737

18,429,614 3,071,422

19,634 870,400 53,262

73,042,048

LIABILITIES AND FUND BALANCES LIABILITIES: Accounts payable (Note 6) Cash overdraft Salaries/deductions payable (Note 6) Interfund payables (>Jotes 1 and 7) Advances from General Fund (Notes 1 and 7) Insurance claims payable Deferred revenue

Total liabilities

1,991,297 $ -

5,663,031 533,639

-363,765

7,529,131 16,080,863

194,129 S 83,416

-2,537,783

870,400

-25,164

3,710,892

2,185,426 83,416

5,663,031 3,071,422

870,400 363,765

7,554,295 19,791,755

FUND BALANCES: (Notes I and 11) Reserved - General Fund:

Encumbrances Tobacco settlement Scholarships Apartment maintenance Protested taxes Construction Donation relief

Reserved - Debt Service Funds: Debt service

Unreserved - designated - General Fund: Coital improvements Insurance deductibles

Unreserved - designated - Capital Projects Fund: Construction

Unreserved - undesignated - General Fund Unreserved - undesignated - Special Revenue Funds

Total fund balances

TOTAL LIABILITIES AND FUND BALANCES

4,545 855,785 45,855

5,182 387,223

12,418,101 546,189

9,191,954

4,545 855,785 45,855 5,182

387,223 12,418,101

546,189

9,191,954

1,184,956 6,160,107

20,005,330

41,613,273

57,694,136 $

-

1,187,979

1,257,087 11,637,020

15,347,912 $

1,184,956 6,160,107

1,187,979 20,005,330

1,257,087 53,250,293

73,042,048


PLAQUEMINES PARISH SCHOOL BOARD RECONCILIATION OF THE GOVERNMENTAL FLINDS BALANCE SHEET

TO THE STATEMENT OF NET ASSETS JUNE 30.2010

Total Fund Balances of Govemmental Funds at June 30, 2010 $ 53,250,293

Cost of capital assets at June 30,2010 $ 88,489,082 Less: accumulated depreciation as of June 30,2010: Buildings and improvements (11,362,986) Equipment, fiimiture and vehicles (6,074,034) 71,052,062

Long-term liabilities at June 30,2010: Bonds payable (5,326,000) Loans payable (5,941,194) Compensated absences (2,458,966) Accmed interest payable (741,552) Otiier postemploymcnt benefits payable (14,351,625) (28,819,337)

Deferred Revenue at June 30,2010 7,554,295

Total Net Assets of Govemmental Activities at June 30, 2010 $ 103,037,313



STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30. 2010

PAGE 14

General Fund Other

Govemmental Total

REVENUES: (Note 1) Local Sources: Ad valorem taxes (Note 3) 1% collection by Sheriff on taxes other than school taxes (Note 5)

Sales taxes Tuition - summer school / driver's education Interest eamings Rent lease - 16th section and other school lands Food service income Apartment rents Contributions and donations Other

Restricted Funds: State sources Federal sources - through State Federal sources - commodities Federal sources - direct

Unrestricted Funds: State sources Federal sources - direct Federal sources - through State Revenue sharing

Total revenues

EXPENDITURES: (Note 1) Instruction:

Regular programs Special programs Vocational education Other instmctional programs

Support Service Programs: Pupil support Instructional staff support General administration School administration

20,205,915 $

567,869 13,348,318

25,130 158,635 53,202

-19,680

117,675 81,245

497,842 11,638,076

-~

12,361,098 56,746 6,650

92,052 59,230,133

S

-2,912,445

-49,424

-276,221

-4,063

68,675

99,674 10,164,610

60,537 2,879,568

259,152 ---

16,774,369

20,205,915

567,869 16,260,763

25,130 208,059

53,202 276,221

19,680 121,738 149,920

597,516 21,802,686

60,537 2,879,568

12,620,250 56,746 6,650

92,052 76,004,502

20,614,283 5,666,392

100 143,184

1,724,897 1,747,451 1,630,557 2,205,923

331,708 5,212,657

44,397 161,353

215,224 1,814,346

150 -

20,945,991 10,879,049

44,497 304,537

1,940,121 3,561,797 1,630,707 2,205,923


STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30.2010

PAGE 15

General Fund Other

Govemmental Total EXPENDITURES: (Note 1) (Continued) Support Service Programs: (Continued)

Business services Operations and maintenance Student transportation Central services Food Service Program Community Service Program Capital outlay

Debt Service: Principal Interest and other charges

Miscellaneous: Bank, legal fees and other

Total expenditures

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES

OTHER FINANCING SOURCES (USES): (Note 1) Transfers of indirect cost Insurance proceeds Sales proceeds Gain (loss) on investments Transfers in Transfers out

Total other fmancing sources (uses)

EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES

Fund balances - beginning ofyear

FUND BALANCES - END OF YEAR

1,150,035 $ 8,731,445 4,064,075 1,653,896 939,714 122,989

13,225,615

45,818 -

84,000 63,750,374

(4,520,24!)

170,862 995

55,455 (26,542)

3,866,900 (356,962) 3,710,708

2,597 $ 5,527 588 -

1,734,240 --

1,286,000 261,312

250 11,070,349

5,704,020

(170,917) --

(5,716) 356,962

(3,866,900) (3,686,571)

1,152,632 8,736,972 4,064,663 1,653,896 2,673,954 122,989

13,225,615

1,331,818 261,312

84,250 74,820,723

1,183,779

(55) 995

55,455 (32,258)

4,223,862 (4,223,862)

24,137

(809,533)

42,422,806

2,017,449

9,619,571

1,207,916

52,042,377

41,613,273 $ 11,637,020 $ 53,250,293


PLAQUEMINES PARISH SCHOOL BOARD RECONCILIATION OF THE GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES

FOR THE YEAR ENDED .nn JE 30.2010

Total net change in fund balances - govemmental funds * 1,207,916

Amounts reported for govemmental activities in the Statement of Activities are different because:

Capital outlays are reported in govemmental funds as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount by which capital outlays exceed depreciation in the period:

Capital outlays $ 16,937,006 Depreciation expense (2,687,397) 14,249,609

Add accumulated depreciation on capital assets retired during the year 386,446 Less cost basis of capital assets retired during the year (425,965) (39,519)

Repayment of bond and loan principal and capital leases is an expenditure in the govemmental funds, but the repayment reduces long-term liabilities in the Statement of Net Assets 1,331,818

In the Statement of Activities, certain operating expenses - compensated absences (vacation and sick leave) - are measured by the amounts eamed during the year. In the govemmental funds, however, expenditures for these items are measured by the amount of financial resources used (essentially, the amounts actually paid). This year, vacation and sick time eamed exceeded the amounts used by 367,486. (67,486)

Interest on long-term debt in the Statement of Activities differs from the amount reported in the govemmental funds because interest is recognized as an expenditure in the funds when it is due, and thus requires the use of current financial resources. In the Statement of Activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. (134,542)

Some expenses reported in the Statement of Activities, such as other post employment benefits, do not require the use of current financial resources and therefore are not reported as expenditures in govemmental funds. (6,548,550)

Revenues in the Statement of Activities that do not provide current financial resources are not reported as revenues in the fund financial statements. 2,609,557

Change in net assets of govemmental activities $ 12,608,803

See acccompanying notes.

PLAQUEMINES PARISH SCHOOL BOARD STATEMENT OF FIDUCIARY NET ASSETS

JUNE 30.2010

ASSETS

PAGE 17

CASH $ 634,520

TOTAL ASSETS $ 634,520

LIABILITIES

DUE TO OTHERS - SCHOOL ACTIVITY FUNDS

ACCOUNTS PAYABLE

$ 525,386

109,134

TOTAL LIABILITIES $ 634,520


PLAQUEMINES PARISH SCHOOL BOARD NOTES TO THE FINANCIAL STATEMENTS

JUNE 30. 2010

INTRODUCTION

The Plaquemines Parish School Board was created by Louisiana Revised Statute (LSA-R.S.) 17:51 to provide public education for the children within Plaquemines Parish. The school board is authorized by LSA-R.S. 17:81 to establish poHcies and regulations for its own government consistent witii the laws of the State of Louisiana and the regulations of the Louisiana Board of Elementary and Secondary Education. The school board is comprised of nine members who are elected from nine districts for terms of four years.

During the year ended June 30, 2010, the school board operated eight schools within the parish with a total enrollment of 3,839 pupils. In conjunction with the regular educational programs, some of these schools offer head start, special education and/or adult education programs. In addition, the school board provides transportation and school food services for the students.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

REPORTING ENTITY:

Govemmental Accounting Standards Board (GASB) Statement No. 14, The Reporting Entity, established criteria for determining the govemmental reporting entity and component units that should be included within the reporting entity. Under provisions of this Statement, the school board is considered a primary government, since it is a special purpose government that has a separately elected governing body, is legally separate and is fiscally independent of other state or local governments. As used in GASB Statement No. 14, fiscally independent means that the school board may, without the approval or consent of another govemmental entity, determine or modify its own budget, levy its own taxes or set rates or charges, and issue bonded debt. The school board also has no component units, defined by GASB Statement No. 14 as other legally separate organizations for which the elected school board members are financially accountable. There are no other primary governments with which the school board has a significant relationship.

BASIS OF PRESENTATION:

The accompanying financial statements of the Plaquemines Parish School Board have been prepared in conformity with generally accepted accounting principles (GAAP) of the United States of America as applied to govemmental units. The Govemmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing govemmental accounting and financial reporting principles.

This financial report has been prepared in conformity witii GASB Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments.


JUNE 30.2010

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)

FUNDS:

The school board uses fimds to maintain its financial records during the year. Fund accounting is designed to demonstrate legal compliance and to aid in financial management by segregating transactions relating to certain school board functions or activities. A fund is a separate fiscal and accounting entity with a self-balancing set of accounts.

Funds of the school board are classified into two categories: govemmental and fiduciary, as follows:

GOVERNMENTAL FUNDS:

Govemmental funds account for all or most of tiie school board's general activities. These funds focus on the sources, uses and balances of current financial resources. Expendable assets are assigned to the various govemmental funds according to the purposes for which they may be used. Current liabilities are assigned to tiie ftind from which they will be paid. The difference between a governmental fimd's assets and liabilities is reported as fimd balance. In general, fund balance represents the accumulated expendable resources which may be used to finance future period programs or operations of the school board. The followmg are tiie school board's govemmental fiinds:

General Fund:

The General Fund is tiie primary operating fund of the school board and it accounts for all financial resources, except tiiose required to be accounted for in otiier funds. The General Fund is available for any purpose provided it is expended or transferred in accordance witii state and federal laws and in accordance with school board policy.

Special Revenue Funds:

Special revenue fiinds are used to account for the proceeds of specific revenue sources tiiat are legally restricted to expenditures for specified purposes, or designated by the school board to be accounted for separately.

Debt Service Funds:

Debt service fiinds are established to meet requirements of bond ordinances and to account for transactions relating to resources retained and used for tiie payment of principal and interest on general long-term debt.


JUNE 30.2010


GOVERNMENTAL FUNDS: (Continued)

Capital Project Funds:

Capital project funds account for financial resources received and used for the acquisition, constmction, or improvement of major capital facilities not reported in the other govemmental funds.

FIDUCIARY FUND:

Fiduciary fund reporting focuses on net assets and changes in net assets. The only fund accounted for in this category by the school board is the school activities agency fund. The agency fund accounts for assets held by the school board as an agent for schools and school organizations. These funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Consequentiy, tiie agency fund has no measurement focus but does use the modified accrual basis of accounting.

MEASUREMENT FOCUS/BASIS OF ACCOUNTING:

Government-Wide Financial Statements:

The Statement of Net Assets and the Statement of Activities display information about the reporting govemment as a whole. These statements include all the financial activities of the school board, except for the fiduciary fund. Fiduciary funds are reported only in the Statement of Fiduciary Net Assets at the fiind financial statement level.

The Government-Wide Financial Statements were prepared using the economic resources measurement focus and the accmal basis of accounting. Revenues, expenses, gains, losses, assets and liabilities resulting from exchange or exchange-like transactions are recognized when tiie exchange occurs (regardless of when cash is received or disbursed). Revenues, expenses, gains, losses, assets and liabilities resulting from nonexchange transactions are recognized in accordance with tiie requirements of GASB Statement No. 33, Accounting and Financial Reporting for Nonexchange Transactions. The school board first utilizes restricted resources to finance qualifying activities.

Program Revenues:

Program revenues included in tiie Statement of Activities are derived directly from parties outside of the school board's taxpayers or citizenry, as a whole; program revenues reduce tiie cost of the function to be financed from the school board's general revenues.


JUNE 30. 2010

I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)

MEASUREMENT FCXUS/BASIS OF ACCOUNTING: (Continued)

Govemment-Wide Financial Statements: ((^bntinued)

Allocation of Indirect Expenses:

The school board reports all direct expenses by function in the Statement of Activities. Direct expenses are those that are clearly identifiable by function. Indirect expenses of other functions are not allocated to those functions but are reported separately in the Statement of Activities. Interest on long-term debt is considered an indirect expense and is reported separately on the Statement of Activities.

Fund Financial Statements:

Govemmental fvmds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities are generally included on the balance sheet. The Statement of Revenues, Expenditures, and Changes in Fund Balances reports on the sources (i.e., revenues and other financing sources) and uses (i.e., expenditures and other financing uses) of current financial resources. This approach differs, from the maimer in which the govemmental activities of the Govemment-Wide Financial Statements are prepared. Governmental Fund Financial Statements therefore include a reconciliation with brief explanations to better identify the relationship between the Govemment-Wide Statements and the statements for govemmental funds.

Fund Financial Statements report detailed information about the school board. The focus of govemmental Fund Financial Statements is on major funds rather than reporting funds by type. Each major fund is presented in a separate column.

Govemmental fimds and the agency fund use the modified accrual basis of accounting. Under the modified accmal basis of accounting, revenues are recognized when susceptible to accmal (i.e., when they become both measurable and available). Measurable means the amount of the transaction can be determined and available means collectible within the current period or soon enough thereafter to pay liabilities of the current period. The school board considers all revenues except federal grant revenue available if they are collected witiiin 60 days after tiie fiscal year end. Federal grant revenue is considered available if collected within 150 days after tiie fiscal year end. Expendimres are recorded when flie related fimd liability is incurred, except for interest and principal payments on general long-term debt which are recognized when due, and certain compensated absences and claims and judgments which are recognized when the obligations are expected to be liquidated with expendable available financial resources. The govemmental funds use the following practices in recording revenues and expenditures;

Revenues:

Federal and state grants and entitiements are recorded as unrestricted grants-in-aid when available and measurable. Grant revenue is recorded as deferred revenue if it is measurable but not available.


JUNE 30.2010


MEASUREMENT FOaiS/BASIS OF ACCOUNTING: (Continued)

Fund Financial Statements: (Continued)

Revenues: (Continued)

Ad valorem taxes and the related state revenue sharing are recorded in the year the taxes are due and payable. Ad valorem taxes are assessed on a calendar year basis, become due on November 15 of each year, and become delinquent on December 31. The taxes are generally collected in December, January and Febmary of the fiscal year.

Sales and use taxes are recorded as revenue in the month collected by the merchants.

Income on deposits, cash equivalents and investments is recorded when measurable and available.

Revenues from rentals, leases and royalties are recorded when eamed.

Substantially all other revenues are recorded when received.

Expenditures:

Salaries are recorded as expenditures when eamed. Nine-month employees' salaries are eamed over a nine-month period but are paid over a twelve-month period.

Purchases of various operating supplies are recorded as expenditures in the accounting period purchased.

Compensated absences are recognized as expendimres when leave is actually taken or when employees (or heirs) are paid for accmed leave upon retirement or death.

Commitments under construction contracts are recognized as expenditures when eamed by the contractors.

Principal and interest on general long-term debt are recognized when due.

Substantially all otiier expenditures are generally recognized when tiie related fund liability is incurred.


JUNE 30.2010

I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)

MEASUREMENT FOCUS/BASIS OF ACCOUNTING: (Continued)

Fund Financial Statements: (Continued)

Other Financing Sources (Uses):

Transfers between fimds that are not expected to be repaid (or any other types, such as capital lease transactions, sale of capital assets, debt extinguishments, long-term debt proceeds) are accounted for as other financing sources (uses). These other financing sources (uses) are recognized at the time the underlying events occur.

BUDGETS:

The following summarizes the budget activities of the school board for the year ended June 30,2010:

2009-2010 Budget Year Completed & Available for Public Inspection July 17,2009 Public Notice July 28,2009 Public Hearing August 3,2009 Board Adoption September 14,2009

The school board is required to adopt armual budgets for the General Fund and all Special Revenue Funds. Budgetary comparisons for the General Fund are included as required supplementary information.

The budget is prepared on the modified accmal basis of accounting. All appropriations lapse at year end. Encumbrances are recognized within the accounting records for budgetary control purposes. Formal budget integration (within the accounting records) is employed as a management control device. The Superintendent of schools is autiiorized to transfer amounts between line items within any fund. However, when actual revenues within a fund fail to meet budgeted revenues by 5% or more and/or actual expendimres within a fiind exceed budgeted expenditures by 5% or more, a budget revision is adopted by the school board in an open meeting. Budget amounts included in required supplementary information include the original adopted budget and the final revised budget.

INTERFUND RECEIVABLES/PAYABLES:

During tiie course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These receivables and payables and short-term interfimd loans are classified as interfund receivables/payables on file balance sheet in tiie Fund Financial Statements.


JUNE 30.2010


ADVANCES TO OTHER FUNDS:

Non-current portions of interfund loan receivables and payables are reported as advances.

INVENTORIES:

Inventory of the Food Service Fund consists of commodities granted by the United States Department of Agriculture through the Louisiana Department of Agriculture and Forestry. The commodities are recorded as revenues when received and as expenses when consumed. Commodities are assigned values based on information provided by the Uiuted States Department of Agriculture on a first-in, first-out method.

Food purchased by tiie school board is expensed at the time of purchase.

CAPITAL ASSETS:

Capital assets are valued at historical cost, estimated cost, or fair value if donated. The school board maintains a threshold level of $5,000 or more for capitalizing assets.

Capital assets are recorded in the Govemment-Wide Financial Statements but are not reported in the Fund Financial Statements. Since surplus assets are sold for an immaterial amount when declared as no longer needed for public school purposes by the school board, no salvage value is taken into consideration for depreciation purposes. All capital assets, other than land, are depreciated using the straight-line method over the following useful lives:

Description

Buildings and building improvements Fumiture and fixtures Vehicles Equipment

COMPENSATED ABSENCES:

Estimated Lives

25 - 40 years 5 years

5-10 years 5-20 years

The school board has two types of compensated absences which accumulate or vest as follows:


JUNE 30.2010


COMPENSATED ABSENCES: (Continued)

Vacation and Sick Leave:

Under the terms of state law and school board policy, teachers and other nine-month employees accme 10 days of sick leave each school year, which can be accumulated without limitation. Upon retirement or death prior to retirement, unused accumulated sick leave of up to 25 days is paid to the employee or the employee's beneficiary at the employee's current rate of pay. Under the Louisiana Teachers' Retirement System, all accumulated sick leave in excess of 25 days, is used in the retirement benefit computation as eamed service. Under reduction in force, a laid-off employee may choose to be paid for his accumulated sick leave.

All 12-month employees accme from 5 to 20 days vacation leave each year depending on length of service with the school board. Vacation leave can be accumulated up to 50 days. Upon termination, retirement, or death prior to retirement, unused accumulated vacation is paid at the employee's current rate of pay. In addition, these employees accme from 10 to 18 days of sick leave each year depending on length of service with the school board. Unused accumulated sick leave for 12-month employees is paid in the manner described above for teachers and nine-month employees.

Sabbatical Leave:

Any employee with a teaching certificate is entitled, subject to approval by the school board, to one semester of sabbatical leave after three years of continuous service, or two semesters of sabbatical leave after six years of continuous service. Leave may be granted for medical leave or for professional and cultural improvement.

The cost of leave privileges are recorded as an expendimre of the period in which paid in the Fund Financial Statements. The entire compensated absences liability is reported in tiie Govemment-Wide Financial Statements.

RESTRICTED NET ASSETS:

For tiie Govemment-Wide Statement of Net Assets, net assets are reported as restricted when constraints placed on net asset use are either:

1. extemally imposed by creditors (such as debt covenants), grantors, contributors, or laws or regulations of other governments; or

2. imposed by law through constitutional provisions or enabling legislation.


JUNE 30. 2010


FUND EOUITY:

In the Fund Financial Statements, govemmental funds report reservations of fimd balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations of fund balance represent tentative management plans that are subject to change.

INTERFUND TRANSACTIONS:

Transactions that constitute reimbursements to a fimd for expenditures initially made from it that are properly applicable to another fund are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fimd that is reimbursed. The flow of assets from one fimd to another where repayment is not expected is reported as transfers in and out.

SALES AND USE TAXES:

The school board levies one percent sales and use tax with receipts deposited in the General Fund. The proceeds of this tax are dedicated and used for any lawfiil school purpose, including payments of salaries and fiinge benefits, building operations and maintenance, and instmctional programs. The school board levies an additional one percent sales and use tax with receipts deposited to the Sales Tax Sinking Fund. The tax is collected by the Sales Tax Department of the Plaquemines Parish Govemment.

FUND DESCRIPTIONS - MAJOR FUND:

For the year ended June 30, 2010, the General Fund is the only major fund reported in tiie Fund Financial Statements. Following is a description of the fimd:

General Fund:

The General Fund is tiie primary operating fund of the school board and it accounts for all financial resources, except those required to be accounted for in other funds. The General Fund is available for any purpose provided it is expended or transferred in accordance with state and federal laws and in accordance with school board policy.

2. FUND DEFICITS:

There are no deficits in any individual funds at June 30, 2010.


JUNE 30.2010

3. LEVIED TAXES:

Property taxes are levied each November 1st on assessed value listed as of the prior January 1st for all real property, merchandise and movable property located in the parish. Taxes are assessed on a calendar year basis, become due on November 15 of each year and become delinquent on December 31. Assessed values are established by the Plaquemines Parish Assessor's Office and the State Tax Commission of actual value as specified by Louisiana Law. Property taxes are recorded as revenue by the school board in the year the taxes are received. A portion of exempt taxes due to homestead exemptions relating to constitutional special school taxes are reimbursed to the school board through state revenue sharing.

As required by the State of Louisiana Statute, prescribed deductions are made from the school board's property tax receipts for contributions to cover costs of various pension fimds. For the year ended June 30, 2010, $672,562 has been deducted from property tax receipts for amounts due to various pension fimds.

The following is a summary of parish wide authorized and levied ad valorem taxes for the fiscal year ended June 30, 2010:

Regular School Tax Employee Health Benefits Salaries #1 Maintenance and Operations Salaries #2 Technology Capital Improvements and Maintenance

Authorized Millaee

6.03 1.70 2.40 4.78 7.50 1.00 1.00

Levied Millaee

6.03 1.70 2.40 4.78 7.50 1.00 1.00

4. ACCOUNTS RECEIVABLE:

The accounts receivable at June 30,2010 are as follows:

TAXES:

Sales GRANTS:

State Federal - received Federal - direct

OTHER

TOTALS

through the State

General Fund

$ 3,588,090

68,680 12,509,656

174.469

$ 16.340.895

Nonmajor Govemmental

Funds

$ 484,235

35,158 1,298,929

270,397

$2,088,719

Total

$ 4,072,325

103,838 13,808,585

270,397 174.469

$ 18.429.614


JUNE 30.2010

5. EMPLOYEE RETIREMENT SYSTEMS:

Substantially all employees of the school board are members of two statewide retirement systems, both of which are cost-sharing multiple-employer public employee retirement systems (PERS). In general, professional employees (such as teachers and principals) and lunchroom workers are members of the Louisiana Teachers' Retirement System (TRS); and other employees, such as custodial persormel and bus drivers, are members of the Louisiana School Employees' Retirement System (LSERS). Generally, all fiill-time employees are eligible to participate in the systems, with employee benefits vesting after 10 years ofservice.

Under LSERS, employees are eligible to retire after attaining age 60 and 10 years of accredited service, age 55 and 25 years of accredited service, or any age with 30 years of accredited service. The retirement benefit will be paid monthly based on 2.5% of average final compensation times the years of creditable service (including creditable unused sick and armual leave), plus an additional .5% of average final compensation times the years of creditable service in excess of 20 years, plus two dollars per month for each year of creditable service supplemental benefit, not to exceed average fmal compensation. The plan also includes disability retirement benefits.

The formula for annual maximum retirement benefits under TRS is 2 or 2.5% (Regular Plan) , or 1 or 3% (Plan A) of final average salary for each year of credited service. Final average salary is

based upon the member's highest successive thirty-six months of salary. Benefits are paid monthly for life.

Benefits of the systems are fimded by employee and employer contributions. The contribution rates (as a percentage of covered salaries) are established by state law as follows:

Louisiana School Employees' Retirement System Louisiana Teachers' Retirement System - Regular Louisiana Teachers' Retirement System - Plan A Louisiana Teachers' Retirement System - ORP

The school board's employer contribution for the TRS, as provided by state law, is funded by the State of Louisiana through annual appropriations, by deductions from local ad valorem taxes, and by remittances from the school board. For tiie year ended June 30, 2010, $567,869 was remitted to tiie TRS by the Plaquemines Parish Sheriff for the school board from ad valorem tax and revenue sharing deductions. For tiie LSERS, the school board's employer contribution was funded by tiie State of Louisiana through annual appropriations. Benefits granted by tiie retirement system are guaranteed by the State of Louisiana under provisions of tiie Louisiana Constitution of 1974.

Emplovee 7.5% 8.0 9.1 8.0

Emplover 17.6% 15.5 15.5 15.5


JUNE 30.2010

5. EMPLOYEE RETIREMENT SYSTEMS: (Continued)

The school board's requned contributions to the system and the percentage contributed are as follows:

Louisiana School Emplovees' Retirement Svstem:

Year Ended

June 30,2010 June 30,2009 June 30,2008

Louisiana Teachers' Retirement Svstem:

Regular: Year Ended

June 30,2010 June 30,2009 June 30,2008


Plan A: Year Ended

June 30,2010 June 30,2009 June 30,2008


ORP: Year Ended

June 30,2010 June 30,2009 June 30,2008

Required Contribution

$ 615,562 620,200 593,872

17,496 5,460

Percent Contributed

98.56% 98.01

100.29

$4,005,631 3,709,992 3,774,859

102.50% 101.70 102.41

6,146 8,183

10,544

100.00% 100.00 100.00

100.00% 100.00

Both systems issue publicly available financial reports tiiat include financial statements and required supplementary information for each system. The LSERS report may be obtained by writing to tiie system at P.O. Box 44516, Baton Rouge, Louisiana 70804-4516. The TRS report may be obtained by writing to tiie system at P.O. Box 94123, Baton Rouge, Louisiana 70804-9123.

PLAQUEMINES PARISH SCHOOL BOARD NOTES TO THE FINANCLVL STATEMENTS

JUNE 30.2010

PAGE 30

6. ACCOUNTS. SALARIES/DEDUCTIONS AND OTHER PAYABLES:

The payables at June 30, 2010 are as follows:

Salaries/deductions Accounts payable

TOTAL

General Fund

$5,663,031 1.991.297

$ 7.654.328

Nonmajor Goverrunental

Funds

$ 194.129

$194.129

Total

$5,663,031 2.185.426

$ 7.848.457

7. INTERFUND PAYABLES/RECEIVABLES AND ADVANCES:

Individual balances due from/to other funds at June 30,2010 are as

General Fund Special Revenue Fund: Title I Title I ARRA Title n Title m Title IV Title V Title XIX CDBG Enhancing Education Through Technology

Due To

$2,527,321

Enhancing Education Through Technology ARRA Food Service Headstart Headstart Improvement COLA HEAP LA 4 TANF Metropolitan Human Services District Migrant Education Restart State Fiscal Stabilization Fund ARRA Special Education Teaching, Learning Technology Center Tech Prep Vocational Education

49,529 -

12,587 -

3,076 33,783

--

168 234

39,728 6,695 1,823

90,000 ---

.7,226 _

29,086 226 760 100

follows:

Due From

$ 533,639

205,848 63,189 47,710

5,789 4,998

-

584 94,278

336 -

973,129 177,245 11,236

-

14,496 3,796

13,459 24,743 39,609

826,339 30,096

_

903

PLAQUEMINES PARISH SCHOOL BOARD NOTES TO THE FINANCLVL STATEMENTS

JUNE 30. 2010

7. INTERFUND PAYABLES/RECEIVABLES AND ADVANCES: (Continued)

Debt Service Fund: CDL Sinking General Obligation Sinking Fund 92 Sales Tax Bond Sinking Fund TOTAL

Due To

140,000 26,963

102.117 •t; 3.071.422

Due From

$3.071.422

Individual balances of advances to/from other fimds at June 30,2010 are as follows:

General Fund Special Revenue Fund: CDBG Migrant Education Restart Special Education Title I Title n Title IV Title V Vocational Education TOTAL

Advances To

$

500 5,000

750,000 10,000 15,000 5,000 7,000

12,900 65.000

Advances From

$ 870,400

_

--------

% 870.400 $ 870.400

8. LEASES:

Operating:

The school board has recorded payments on operating leases for office space, computer equipment and software, and temporary stmcmres as expenses in the accompanying financial statements. For the year ended June 30, 2010, $1,119,690 was paid on the leases. The school board's policy is to expense lease payments in the year the expense is incurred. The following is a schedule of flimre minimum lease payments under operating lease agreements as of June 30,2010:

Year Ended June 30

2011 2012 2013 2014 2015 Thereafter

Amount

981,122 218,272

84,410 10,279 2,521

Total minimum lease payments $ 1.296.604


JUNE 30.2010

PAGE 32

9. CHANGES IN AGENCY FUND DEPOSITS DUE OTHERS:

A summary of changes in agency fund deposits due others follows:

School Activity Accounts

Balance Julv 1.2009 Additions Reductions

$ 683.950 $ 1.798.709

10. GENERAL LONG-TERM OBLIGATIONS:

Balance June 30,2010

$(1.957.273) $ 525.386

The following is a summary of the long-term obligation transactions for the year ended June 30,2010:

Amounts Balance Due Within

Additions Pavments June 30, 2010 One Year

$ - $1,286,000 $ 5,326,000 $1,337,000 45,819 5,941,194 5,735,012

Balance Julv 1.2009

Bonded debt $ 6,612,000 Loans payable 5,987,013 Compensated absences payable 2.391,480

Total $ 14,990493

67.486 2.458.966 117,300

$ 67.486 $1.331.819 $13.726.160 $7.189.312

Compensated Absences:

Compensated absences payable will be liquidated by the fund where the salary costs originated. The additions for the year ended June 30, 2010 represent the net changes during tiie year. The records are maintained in such a maimer that the additions and deletions could not readily be determined; therefore, tiie net change is reflected as additions in tiie year ended June 30, 2010.

Loans Payable:

The school board has an outstanding loan with the Louisiana Local Govemment Environmental Facilities and Community Development Authority for the purchase of computer equipment and a lighting project. The loan's original principal balance was $630,000. At June 30, 2010, tiie outstanding principal balance was $252,000. The loan bears no interest and is payable in quarteriy payments of $11,455 ending November 1,2015.

PLAQUEMESTES PARISH SCHOOL BOARD NOTES TO THE FINANCIAL STATEMENTS

JUNE 30. 2010

10. GENERAL LONG-TERM OBLIGATIONS: (Continued)

Loans Pavable: (Continued)

The school board has an outstanding loan with the Federal Emergency Management Agency through the Special Community Disaster Loan Program to aid in Hurricane Katrina related expenses. The loan was originally approved for $11,278,842, however, the amount actually requested and payable by Plaquemines Parish School Board as of June 30,2010 is $5,689,194. The loan is payable m fiill on December 12, 2010. The interest rate on the loan is 2.68% and interest is payable at the end of the loan. Accmed interest on the loan at June 30,2010 is 670,899. The loan is secured by the pledge of the revenues of the school board for each year the loan is outstanding, after provision has been made for the payments required for outstanding bonded indebtedness.

At June 30, 2010, the future payments on the loans are as follows:

Year Ending June 30

2011 2012 2013 2014 2015 2016-2020

Principal Pavments E 5,735,012

45,818 45,818 45,818 45,818 22.910

Interest Pavments $ 69,882

-----

Total $ 5,804,894

45,818 45,818 45,818 45,818 22.910

$5.941.194 $ 69.882 $6.011.076

Bonds and Certificates:

All principal and interest requirements are funded in accordance with Louisiana law by the armual ad valorem tax levy on taxable property within the parish. At June 30, 2010, the school board had accumulated $9,191,954 in the debt service funds for future debt requirements.

The following is a schedule of tiie outstanding bonds of the school board as of June 30,2010:

Date of Original Interest Issue Issue Rate Maturities

Outstanding Balance

June 30.2010 Sales Tax School Bonds, Series 1998 03/01/98 $ 8,115,000 3.65^.65% 3/1/1999-2012 $1,825,000

Sales Tax School Bonds, Series 1998B 04/01/98 1,800,000 4.45-7.00% 3/1/1999-2018 935,000

Sales Tax School Bonds, Series 2003 06/01/03 1,300,000 3.00-7.00% 3/1/2004-2018 800,000

Certificates of Indebtedness, Series 2004 12/22/04 2,800,000 0.00-3.77% 9/1/2005-2015 1.766.000

$ 5.326.000


JUNE 30.2010

10. GENERAL LONG-TERM OBLIGATIONS: (Continued)

Bonds and Certificates: (Continued)

The annual requirements to amortize principal and interest on bonds outstanding at June 30, 2010 are as follows:

Year Ending June 30

2011 2012 2013 2014 2015 2016-2020

Principal Pavments

$ 1,337,000 1,403,000

493,000 514,000 531,000

1.048.000

Interest Pavments

$ 207,679 150,997 91,002 73,371 54,886 67.495

Total

$ 1,544,679 1,553,997

584,002 587,371 585,886

1.115,495

$ 5.326.000 $ 645.430 $5.971.430

11. RESERVED AND DESIGNATED FUND BALANCES:

Following are the details of reserved and designated fund balances which are reported in the Fund Financial Statements:

Designated for Capital Improvements:

The school board passed a resolution on April 8, 1998 to establish a Capital Improvement Fund for building/facility constmction and improvements. Deposits are made of revenues from 16th section lands, any unexpected excess settiement funds as designated by the board, and ending General Fund Balance in excess of 5% of the following year's proposed budget. The balance of this account at June 30,2010 is $1,184,956.

Designated for Insurance Deductibles:

The settlement of back sales and use taxes, certain refunds of insurance prenuums, and a portion of the special appropriation from the parish govemment have been designated to fund tiie deductible amount on insurance policies. At June 30,2010, the amount designated is $6,160,107 in the General Fund.

Designated for Constmction:

At June 30, 2010, monies which are designated for future constmction projects equaled $1,187,979 in tiie Capital Projects Fund.


JUNE 30,2010

11. RESERVED AND DESIGNATED FUND BALANCES: (Continued)

Reserved for Debt Service:

Monies are reserved in the Debt Service Funds to pay the principal and interest maturing in future years on bonded debts and certificates of indebtedness. At June 30, 2010, the balance of the reserve is $9,191,954.

Reserved for Encumbrances:

The amount of $4,545 has been reserved for outstanding requisitions and purchase orders as of June 30,2010 in the General Fund.

Reserved for Tobacco Settlement:

Monies received from the Tobacco Settlement are reserved in the General Fund for technological advancement. At June 30,2010, the balance of the reserve is $855,785.

Reserved for Apartment Maintenance

Monies received for rent are reserved in the General Fund for repairs and maintenance on apartments owned by the school board. At June 30,2010, the balance of the reserve is $5,182.

Reserved for Scholarships:

Monies donated by various organizations are reserved for scholarships to qualified students of the Plaquemines Parish Schools. At June 30, 2010 the balance of the reserve is $45,855 in the General Fund.

Reserved for Protested Taxes:

Monies are reserved for property taxes paid in protest. At June 30, 2010, the balance in the reserve is $387,223 in tiie General Fund.

Reserved for Donation Relief:

Monies are reserved in the General Fund for donations received to be used for various library and computer resources, supplies and teacher's salaries. At June 30,2010, tiie balance of the reserve is $546,189.

Reserved for Constmction:

At June 30, 2010, monies are reserved in the General Fund for current projects in the amount of $12,418,101. Project reserves consisted of insurance proceeds and various federal awards.


JUNE 30,2010

12. CASH. CASH EQUIVALENTS AND INVESTMENTS:

Following are the components of the school board's cash, cash equivalents and mvestments at June 30, 2010:

Govemmental Fiduciary Funds Funds

Cash $17,911,434 $634,520 Cash equivalents 27,500,181 Investments 3,816,364 :

TOTAL $49.227.979 $JMi2fi

Cash:

The school board is authorized under state law to deposit funds within a bank organized under the laws of the State of Louisiana, the laws of any other state in the United States, or laws of the United States. Under state laws, these deposits must be secured by federal deposit insurance or the pledge of securities owned by the bank. State Law R.S. 39:1225 provides that the amount of the security shall at all times be equal to 100% of the amount on deposit to the credit of each depositing authority, except that portion of the deposits insured by any govemmental agency insuring bank deposits, which is organized under the laws of the United States.

Custodial credit risk is the risk that, in the event of a bank failure, the school board's deposits might not be recovered. The school board's deposit policy for custodial credit risk conforms to state law, as described above. At June 30, 2010, the school board's demand deposit bank balances of $37,135,541 were entirely secured by federal deposit insurance and pledged securities held at the Federal Reserve Bank in the name of the school board.

Cash Equivalents:

The school board considers all highly-liquid debt instmments with a mamrity of one year or less to be cash equivalents. The school board's cash equivalents include money market demand deposit accounts held with financial institutions, certificates of deposit, govemment money market fimds and funds invested through the State Treasury. All cash equivalents are stated at cost. The following is a detail of die cash equivalents at June 30,2010:

Amount Money market demand accounts entirely covered by federal depository insurance and pledged securities held at the Federal Reserve Bank in tiie name of the school board $ 17,792,030


JUNE 30.2010

12. CASH. CASH EQUIVALENTS AND INVESTMENTS: (Continued)

Cash Equivalents: (Continued)

Certificates of deposit entirely covered by federal depository insurance and pledged securities held at the Federal Reserve Bank in the name of the school board 110,250

Certificates of deposit in investment accounts held in the name of the school board by the school board's broker-dealer 318,000

Money market fimds consisting of short-term securities held in the name of the school board by the school board's broker-dealer 8,329,123

Govemment money market fiinds consisting of short-term govermnent securities held in the name of the school board by the school board's broker-dealer 94,993

Pooled funds invested under contract with the State of Louisiana State Treasury held in the name of the school board 855.785

TOTAL CASH EQUIVALENTS $27.500.181

Investments:

State Law allows the investment in direct Uiuted States Treasury obligations; bonds, debentures, notes or other evidence of indebtedness issued or guaranteed by federal agencies or U.S. Government instmmentalities, which are federally sponsored; direct security repurchase agreements of any federal book entry only securities guaranteed by the U.S. Govemment; time certificates of deposit of any bank domiciled or having a branch office in the State of Louisiana; savings account or shares of certain savings and loan associations and savings banks; certain accounts of federally or state chartered credit unions; certain mutual or tmst fund institutions; certain guaranteed investment contracts; and investment grade commercial paper of domestic United States corporations.

At June 30,2010, investments consisted of the following:

Certificates of Deposit witii maturities greater than one year $ 2,537,000

Debt Securities 1.279.364 TOTAL INVESTMENTS $3.816.364

PLAQUEMINES PARISH SCHOOL BOARD NOTES TO THE FINANCL\L STATEMENTS

JUNE 30.2010

12. CASH. CASH EOUfVALENTS AND INVESTMENTS: (Continued)

Investments: (Continued)

Custodial credit risk is defined as the risk that, in the event of failure of the counterparty, the school board will not be able to recover the value of its investment. The school board's investment policy conforms to state law, as described above, which has no provision for custodial credit risk. The school board's investments are held in the name of the school board by the school board's broker-dealer. The investments are managed by the school board's broker-dealer, but may be restricted by bond indenmres.

Concentration of credit risk relates to the amount of investments in any one entity. At June 30, 2010, the school board had no investments in any one entity which exceeded 5% of total investments, except obligations of federally sponsored entities, which are implicitly guaranteed by the federal govemment, and obligations of federal agencies.

Interest rate risk is defined as the risk that changes in interest rates will adversely affect the fair value of an investment. The school board's investment policy conforms to state law, which does not include a policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.

As of June 30, 2010, the school board had the following investment in debt securities:

Less Greater Investment Type Fair Value Than 1 1 -5 6-10 Than 10

Federal Agencies $ 209,775 $ - $ - $ - $ 209,775 Obligations of Federally Sponsored Entities 1.069.589 4.955 55.359 830.067 179.208

£ 1.279.364 S 4.955 $ 55.359 $ 830.067

Credit risk is defined as the risk that an insurer or other counterparty to an investment will not fulfill its obligations. The school board invested only in obligations of federal agencies or federally sponsored entities in the amount of $1,279,364 which are not rated. The type of investment allowed by state law ensures that the school board is not exposed to credit risk.

13. CAPITAL ASSETS:

A summary of changes in capital assets is as follows:

Capital assets not being depreciated: Land Construction in progress

Total capital assets not being depreciated

Balance Julv 1.2009

$ 2,531,474 3.616.235

6.147.709

Additions

$ 15.659.401

15,659.401

Retirements

$ _

-

Balance June 30.2010

S 2,531,474 19.275.636

21.807.110


JUNE 30. 2010

PAGE 39

13. CAPITAL ASSETS: (Continued)

Capital assets bei g depreciated: Buildings and improvements Fumiture and equipment Transportation equipment

Total capital assets being depreciated

Less accumulated depreciation for; Buildings and improvements Fumiture and equipment Transportation equipment

Total accumulated depreciation

Total capital assets being depreciated, net

Capital assets, net

Balance Julv 1.2009

; 54,185,014 6,096,933 5.548.384

65.830.331

10,033,897 3,064,240 2,037.932

15,136.069

50.694.262 ; 56.841.971

Additions

$ 543,700 147,744 586.161

1.277.605

1,351,342 713,641 622.414

2.687.397

f 1,409.792) .•6 14.249.609

Retirements

$ 32,895 107,700 285.369

425.964

22,253 103,823 260.370 386.446

39.518 $ 39.518

Balance June 30. 2010

$ 54,695,819 6,136,977 5.849.176

66.681.972

11,362,986 3,674,058 2.399,976

17.437,020

49.244.952 S 71,052.062

Depreciation expense of $2,687,398 for the year ended June 30, 2010 was charged to the following govemmental fimctions:

Instmction: Regular programs Special programs Vocational education Other instmctional programs

Support Service Programs: Pupil support services Instmctional staff services General administration School administration Business services Operation and maintenance of plant Student transportation Central services

Food Service Program Community Service Program

Total

$ 677,512 351,890

1,439 9,850

62,754 115,209 207,336 71,352 37,283

282,603 637,924 53,496

174,771 3,978

$2,687,397

At June 30, 2010, buildings and improvements with a carrying value of $447,143 were idle as a result of damages incurred during Hurricane Katrina.


JUNE 30. 2010

14. ESTIMATES:

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates.

15. SELF INSURANCE:

The school board is self-insured for workman's compensation in the amount of $300,000 per accident. The excess is insured under an insurance policy. The fund is administered by an independent insurance service company.

The estimated claims liability is computed based on information received from the administrator of the plan. The following represents a reconciliation of total claims hability:

2010 2009

Claims liability at July I $292,515 $ 246,897 Less: Claims paid during tiie year (323,201) (210,360) Plus: Claims incurred 394,451 255.978 Claims liability at June 30 $ 363.765 $ 292.515

The claims liability at June 30, 2010 is presented at current value and has not been discounted.

16. LOSS CONTINGENCY:

The school board is a defendant in lawsuits filed by various parties. The school board is covered by insurance subject to a $100,000 deductible per instance. Based on the opinion of the school board's attorney, the potential liability to the school board for these lawsuits will not be material to the financial statements.

17. OTHER POSTEMPLOYMENT BENEFITS:

Effective for the fiscal year beginning July 1, 2008, the school board implemented Govemment Accounting Standards Board Statement Number 45, Accounting and Financial Reporting by Employers for Postemploymcnt Benefits Other than Pensions (GASB 45). It was implemented prospectively, therefore, comparative data for years prior to the fiscal year begirming July 1,2008 is not presented.


JUNE 30.2010

17. OTHER POSTEMPLOYMENT BENEFITS: (Continued)

Plan Description

The school board offers a medical and life insurance plan (the Plan), to qualifying employees upon retirement. The Plan is a single employer defined benefit health plan. The school board has the authority to establish and amend plan provisions.

Employees who meet the requirements of retirement under their state sponsored plan. Teachers Retirement System of Louisiana or Louisiana School Employees' Retirement System are eligible to participate in the Plan. In addition, disabled employees with at least 5 years of service are eligible for benefits. Coverage for medical benefits is provided from the date of retirement, for the balance of the retiree's life, and is contingent on the payment of the retiree's premium. Participants have initial life insurance coverage of $10,000. Life insurance drops to 75% of initial amount at age 65 and 50% at age 70.

Contribution Rates

Retirees pay a portion of the insured premium, in accordance with their level of coverage. For the year ended June 30,2010, the retiree portion of the monthly premium ranged from $0 to $43 for single coverage and $220 to $459 for spouse and beneficiary coverage. The school board's portion ranged from $189 to $492 for single coverage and $718 to $1,113 for spouse and beneficiary coverage.

Fundins Policy

Until July 1, 2008, the school board recognized the cost of providing postemploymcnt medical and life insurance benefits (the school board's portion of the retiree medical and life insurance benefits) as an expense when the benefit premiums were due and thus financed the cost of the postemploymcnt benefits on a pay-as-you-go basis. The school board has the authority to establish or amend obligations of plan members and the school board to contribute to the plan.

Annual Required Contribution

The school board's Annual Required Contribution (ARC) is an amount actuarially determined. The ARC is the sum of the Normal Cost plus the contribution to amortize the Actuarial Accmed Liability (AAL). A level dollar, closed amortization period of 30 years has been used for the postemploymcnt benefits. The total ARC for the fiscal year begirming July 1, 2009 is $8,650,359, as set forth below:

Normal Cost $ 3,993,432 30-year UAL amortization amount 4,778,701 Interest 312,123 Adjustment to the ARC (433.897) Annual required contribution (ARC) $ 8.650,359


JUNE 30,2010


Net Other Postemplovment (OPEB) Obligation

The table below shows tiie school board's Other Postemploymcnt Benefit (OPEB) Obligation for fiscal year ending June 30,2010:

Annual required contribution Contribution Current year actual retiree premium payments Decrease in Net OPEB liability due to the value of benefits in the current year

Change in Net OPEB Obligation Beginning Net OPEB Obligation - 7/1/2009 Ending Net OPEB Obligation - 6/30/2010

8,650,359

(1,025,001)

(1.076.808) 6,548,550 7.803.075

14.351.625

The following table shows the school board's annual other postemploymcnt benefits cost, percentage of the cost contributed, and the net unfunded other postemploymcnt benefits liability:

Other Post Employment

Benefit

Medical Medical

Fiscal Year Ended

Annual OPEB Cost

June 30,2009 $8,772,133 June 30,2010 8,650,359

Percentage of Annual Cost Contributed

11% 24%

Net OPEB Obligation

I 7,803,075 14,351,625

Funded Status and Funding Progress

In the fiscal year ending June 30, 2010, the school board made no contributions to its other postemploymcnt benefits plan. The Plan is not funded, has no assets and hence has a funded ratio of zero. Following is a summary of the funded status of the plan:

Actuarial Accmed Liability (AAL) $ 82,633,459 Acmarial Value of Plan Assets : Unfunded AcUiarial Accmed Liability (UAAL) $ 82.633.459

Funded Ratio (Actuarial Value of Plan Assets/AAL) 0%

Covered Payroll (active plan members) $ 28.806.498

UAAL as a percentage of covered payroll 287%


JUNE 30.2010


Actuarial Methods and Assumptions

Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events far into the future. The actuarial valuation for other postemploymcnt benefits includes estimates and assumptions regarding the measurement date, the discount rate for valuing liabiHties, mortality rates, withdrawal rates, disability rates, retirement rates, coverage assumptions, spouse age differences, surviving spouse coverage upon retiree death, administrative expense load, per capita medical benefit costs and medical inflation. Actuarially determined amounts are subject to continual revision as actual results are compared to past expectations and new estimates are made about the fiiture.

The actuarial calculations are based on the types of benefits provided under the terms of the substantive plan (the plan as understood by the school board and its employee plan members) at the time of the valuation and on the pattern of sharing costs between the school board and its plan members to that point. The projection of benefits for financial reporting

^ purposes does not explicitly incorporate the potential effects of legal or contractual funding limitations on the pattern of cost sharing between the school board and plan members in the future. Consistent with the long-term perspective of actuarial calculations, the actuarial methods and assumptions used include techniques that are designed to reduce short-term volatility in actuarial liabilities and the actuarial value of assets.

Actuarial Cost Method

The ARC is determined using the Unit Credit Actuarial Cost Method. This method determines, in a systematic way, the incidence of plan sponsor contributions required to provide plan benefits. It also determines how actuarial gains and losses are recognized in pension costs. These gains and losses result from the difference between the actual experience under the plan and the experience by the acmarial assumptions. The cost of the plan is derived by making certain specific assumptions as to rates of interest, mortality, turnover, etc., which are assumed to hold for many years into the future. The actuarial cost method assumptions include a 4% discount rate for valuing liabilities. Since actual experience may differ somewhat from the long term assumptions, the costs determined by the valuation must be regarded as estimates of the tme costs of the plan. The unfimded actuarial accmed liability is being amortized as a level percentage of payroll over an open amortization period of 30 years in developing the annual required contribution.

PLAQUEMINES PARISH SCHOOL BOARD REQUIRED SUPPLEMENTARY INFORMATION

BUDGETARY COMPARISON SCHEDULE GENERAL FUND


PAGE 44

General Fund

REVENUES: Local Sources: Ad valorem taxes 1% collection by Sheriff on taxes other than school taxes

Sales taxes Tuition - summer school /

driver's education Interest earnings Rent lease - 16th section and other school lands

Commimity service income Apartment rents Contributions and donations Otiier

Restricted Funds: State sources Federal sources - through State

Unrestricted Fimds: State sources Federal sources - direct Federal sources - through State Revenue sharing

Total revenues

EXPENDITURES: Instmction:

Regular programs Special programs Vocational Education Other instmctional programs

Original Budget

Final Budget Actual

$ 17,580,000 $ 20,273,272 $ 20,205,915 $

20,000 53,202

18,757,539

4,927,868

334,994

-

20,086,605

5,480,495

-

787,983

20,614,283

5,666,392

100 143,184

Variance with Final Budget

Positive (Negative)

(67,357)

475,000

11,450,000

20,000

268,350

564,845

9,815,471

30,690

124,123

567,869

13,348,318

25,130

158,635

3,024

3,532,847

(5,560)

34,512

53,202

30,000

71,000

677,611

33,415,000

12,500,000

20,000

60,000

76,586,961

6,405

89,625

383,114

81,449

12,055,043

12,382,694

105,418

92,052

56,004,201

19,680

117,675

81,245

497,842

11,638,076

12,361,098

56,746

6,650

92,052

59,230,133

13,275

28,050

(301,869)

416,393

(416,967)

(21,596)

(48,672)

6,650

3,225,932

(527,678) (185,897)

(100) 644,799

Continued

PLAQUEMINES PARISH SCHOOL BOARD REQUIRED SUPPLEMENTARY INFORMATION

BUDGETARY COMPARISON SCHEDULE GENERAL FUND


PAGE 45

EXPENDITURES: (Continued) Support Service Programs:

Pupil support Instmctional staff support General administration School administration Business services Operations and maintenance Student transportation Central services Food Service Program Community Service Program Capital outlay

Debt Service: Principal Interest

Miscellaneous: Total expenditures


OTHER FINANCING SOURCES (USES):

Transfers of indirect cost Insurance proceeds Sales proceeds Gain (loss) on investments Transfers in Transfers out

Total other financing sources (uses)

Net change in fund balances

Fund balances - beginning ofyear

FUND BALANCES - END OF YEAR

Original Budget

; 1,788,605 $ 1,826,130 2,149.465 2,725,150 1,068,700

39,874,640 4,429,328

987,131 1,036,750

41,700 55,000

45,820 -

25,000 80,073,820

(3,486,859)

120,000 -

5,000 -

3,747,080 -

3,872,080

385,221

42,422,806

42,808,027 $

General Fund

Final Budget

1,884,099 $ 2,633,283

686,412 2,214,922 1,247,914

20,865,136 4,032,665 1,681,204 2,252,159

210,353 -

1,331,818 261,312 334,730

65,991,090

(9,986,889)

1,999 5,001,424

26,953 -

3,779,549 -

8,809,925

(1,176,964)

42,422,806

41,245,842 $

Actual

1,724,897 $ 1,747,451 1,630,557 2,205,923 1,150,035 8,731,445 4,064,075 1,653,896

939,714 122,989

13,225,615

45,818 -

84,000 63,750,374

(4,520,241)

170,862 995

55,455 (26,542)

3,866,900 (356,962)

3,710,708

(809,533) ,

42,422,806

41,613,273 $

Variance with Final Budget

Positive (Negative)

159,202 885,832

(944,145) 8,999

97,879 12,133,691

(31,410) 27,308

1,312,445 87,364

(13,225,615)

1,286,000 261,312 250,730

2,240,716

5,466,648

168,863 (5,000,429)

28,502 (26,542) 87,351

(356,962) (5,099,217)

367,431

-

367,431

PLAQUEMINES PARISH SCHOOL BOARD REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF FUNDING PROGRESS FOR THE OTHER POSTEMPLOYMENT BENEFIT PLAN

FOR THE YEAR ENDED JUNE 30. 2010

PAGE 46

Fiscal Year

Ended

June 30, 2009 June 30,2010

Actuarial Valuation

Date

July 1,2008 July 1,2008

Actuarial Value of Assets

(a)

$ -

Actuarial Accmed

Liability (AAL) Projected Unit

Cost (b)

$ 82,633,459 82,633,459

Unfimded AAL

(UAAL) (b-a)

$82,633,459 82,633,459

Funded Ratio (a^)

0% 0%

Covered Payroll

(c)

$23,818,205 28,806,498

Percentage of Covered

Payroll [(b-aVcJ

347% 287%

PLAQUEMINES PARISH SCHOOL BOARD SUPPLEMENTARY INFORMATION NONMAJOR FUND DESCRIPTIONS

JUNE 30.2010

SPECIAL REVENUE FUNDS:

No Child Left Behind - Titie I:

This Special Revenue Fund is a program for economically and educationally deprived school children which is federally fmanced, state-administered and locally operated by the school board. The services are provided through various projects which are designated to meet the special needs of educationally deprived children. The activities supplement rather than replace state and local mandated activities. Program fimds are obtained from federal grants through the State Department of Education.

Title I-ARRA

This Special Revenue Fund is used to improve the teaching and learning of children who are at risk of not meeting challenging academic standards and who reside in areas of high concentrations of children from low-income families. Program fiinds are obtained from federal grants through the State Department of Education.

No Child Left Behind - Title U:

The program funds are used to promote professional growth leading to improving certification in math and science.

English Language Acquisition Grant - Title HI:

This program's purpose is to ensure tiiat limited English proficient children attain English proficiency and meet State academic achievement standards.

Dmg-Free Schools Program - Title IV:

This program establishes and implements dmg abuse education and prevention programs, and enforces dmg-related mles and regulations of student conduct in the schools.

No Child Left Behind - Titie V:

This is a program by which tiie Federal govemment provides funds to the school board for audio-visual materials, equipment and library resources.

Titie XDC:

This program's purpose is to improve the health status of eligible children by assuring the provision of preventive services, healtii assessment, and tiie necessary diagnosis, treatment and follow-up care in the context of an ongoing relationship between tiie patient and otiier health care givers.


JUNE 30.2010

SPECIAL REVENUE FUNDS: (C:ontinued)

Adult Education:

The Adult Education Fund accounts for Federal and State grants received through tiie State Department of Education.

The Adult Education Program offers a basic and remedial academic curriculum to individuals at least 16 years of age or emancipated minors who have not obtained a high school diploma. The curriculum offered is intended to prepare the student for the high school equivalency examination. Students successfiilly completing the examination are awarded the High School Equivalency Examination Diploma.

Communitv Development Block Grant (CDBG):

The purpose of this program is to provide help to cover rebuilding costs deemed ineligible for reimbursement through the FEMA program. Program funds are obtained from federal grants through the State Department of Education. This is a one time grant awarded specifically for a special project.

Enhancing Education Through Technoloev:

The purpose of this grant is to enhance ongoing efforts to improve teaching and learning through the use of technology.

Education Technologv State Grants (EETTVARRA

The purpose of this program is to assist high need school systems in improving student achievement through the effective use of technology. Grant funding will serve to enhance ongoing efforts to improve teaching and leaming through the use of technology to support 21 * Century technology classrooms. Funding is distributed to eligible recipients by formula based on each recipient's share of Titie I, Part A, ARRA funding. This award is a redistribution of funds due to LEA's choosing not to participate in tiie program. Program funds are obtained from federal grants through the State Department of Education.

Food Service:

The Food Service program provides nourishing meals for students in all grades. This program is supplemented by both Federal and State fiinds that are based on reimbursement and participation.


JUNE 30.2010

SPECIAL REVENUE FUNDS: (Continued)

Foreign Contributions:

The Hurricane Katrina Foreign Contributions program is designed to address both the current need for educational success and the long term plarming needs of public and non-public schools in the areas most heavily affected by Hurricane Katrina.

Head Start Program:

This is a federally funded educational, social and health program for economically disadvantaged fliree to four-year old children.

Head Start Body Start:

This is a locally fimded program that provides fiinds to Head Start centers nationwide to improve outdoor play spaces.

Head Start - Oualitv Improvement/COLA-ARRA:

This Quality Improvement program's purpose is to fund supplies, equipment and other purposes. This fimding is to fund the purchase of a security system, relocate an existing office to the new Head Start facility site, and to fimd the tuition for twelve employees to meet early childhood education credentials and degree requirements. This is a one-time grant award.

The COLA-ARRA program's purpose is to fund a temporary 1.84% COLA increase for one year and to provide additional professional training to meet Louisiana State licensing requirements. This is a one-time grant award.

Head Start Constmction:

The purpose of this grant is to fimd the constmction of a facility with six Head Start classrooms.

Hurricane Educator Assistance Program:

The purpose of the Hurricane Educator Assistance Program is to enhance recmitment and retention efforts to increase the number of certified and qualified educators. Program funds are obtained from federal grants through tiie State Department of Education. This is a one time grant awarded specifically for a special project.


JUNE 30.2010


Education for Homeless Children & Youth-Homeless ARRA

The purpose of this fimd is to ensure that all homeless children and youth have equal access to the same free, appropriate public education as any non-homeless child or youth. This is a formula grant and is awarded for fifteen months. This is a one-time source of funds. Program funds are obtained from federal grants through the State Department of Education.

LA-4 Temporary Assistance for Needy Families (TANF)

The purpose of the LA4 Program is to provide high quality early childhood educational experiences to four-year-old children who are considered to be "at risk" of achieving later academic success. The LA-4 Program provides six hours per day of educational experiences and four hours of before and after school enrichment activities. The program is offered at no cost to those children whose families qualify for free or reduced lunch. Programs will adhere to state approved guidelines. Program fimds are obtained from federal grants through the State Department of Education.

Metropolitan Human Services District:

The Metropolitan Human Services District placed an addiction counselor in a school-based health center to provide early intervention and treatment for substance abuse. Program fimds are obtained directly from tiiis non-profit organization, specifically for this service.

No Child Left Behind - Title I Migrant Education:

The Titie I Migrant Education Funds are used to provide additional instmction in reading and math to identified students tiu-ough an individualized instmction program. The Title I Migrant Education Recmiter Program is used to enlist tiie cooperation of school systems in the multi-parish recmiting area, identify migrant children, establish contacts witii migrant families, and assist in planning educational, health and social services for migrant children. Program funds are obtained from Federal grants through tiie State Department of Education.

Restart:

The purpose of tiiis federally-funded program is to provide assistance to schools to help defray tiie expenses related to the restart of operations in, tiie reopening of, and tiie re-enrollment of students in elementary and secondary schools that serve an area in which a major disaster has been declared related to Hurricane Katrina.


JUNE 30.2010


Special Education Fund:

The Special Education Fund is a state and federally financed program of free education in the least restricted environment to children with exceptionalities.

State Fiscal Stabilization Fund (SFSF)

Allocations are calculated using the 09/10 Minimum Foundation Program budget letter. Each LEA is entitled to and awarded an amount based on the proportion of MFP funds received.

Teaching Leaming Technologv Center:

The purpose of this grant is to support the integration of educational technology into classrooms to improve teaching and leaming.

Technical Preparation:

This federally-funded program is for the development and administration of Technical Preparation activities.

Vocational Education:

Students in grades 9 through 12 have the opportunity to participate in vocational education through the state and federally funded programs. Courses in home economics, industrial arts, and business education offer training in job entry skills. Several co-op programs offer practical experiences in the job market.

CAPITAL PROJECTS FUNDS:

2003 Constmction Fund:

The school board autiiorized tiie issuance of $1,300,000 of Sales Tax Bonds, Series 2003 pursuant to a resolution adopted on April 14,2003 for tiie purpose of making capital improvements to the public school system of Plaquemines Parish (including, but not limited to, constmcting, acquiring, erecting, improving and repairing schools and school related facilities).


JUNE 30. 2010

DEBT SERVICE FUNDS:

General Obligation Sinking Fund:

The General Obligation Sinking Fund accounts for the proceeds of property taxes that are dedicated for debt service.

92 Sales Tax Bond Sinking Fund:

The Sales Tax Bond Fund accounts for the proceeds of a one percent sales and use tax levied and collected by the collecting agency.

92 Sales Tax Bond Reserve Fund:

This Debt Service Fund accounts for the establishment of a reserve in the amount of $1,100,000, or the highest combined principal and interest requirements for any succeeding bond year, ending March 1, which equaled $1,232,453 as of June 30, 2010.

Bond Issue Sinking Fund:

This Debt Service Fund accounts for the accumulation of funds for the repayment of a federal loan that provided financial assistance due to substantial loss of tax and other revenue as a result of Hurricane Katrina.

PLAQUEMINES PARISH SCHOOL BOARD SUPPLEMENTARY INFORMATION

NONMAJOR GOVERNMENTAL FUNDS COMBINING BALANCE SHEET

JUNE 30. 2010

Special Revenue Funds

ASSETS: Cash Cash equivalents Investments Accounts receivable Interfund receivable Prepaid expense Accrued interest receivable Inventory TOTAL ASSETS

s

Title!

27,056

144,263 49,529

:

S

Title I ARRA

10,938

54,218

.

S

Title 11

-

41,588 12,587

:

s

Title 111

31

6.788

.

S

Title IV

7,308

1,964 3,076

" ,

S

Title V

-

33,783

:

Title XIX

$ 87,322

-

:

Adult Education

S

-

; $ 220,848 $ 65,156 $ 54,175 $ 6,819 $ 12.348 S 33,783 $ 87,322 $

LIABILITIES: Accounts payable Cash overdraw Interfund payables Deferred revenue Advances from General Fund

Total liabilities

FUND EQUITY: Unreserved fund balance Reserved for debt service Designated for construction Total fund equity

TOTAL LIABILITIES AND FUND EQUITY

205,848

15.000 220.848

1.967

-63.189

-

S 665 $

800 47,710

5.000

1,030

-5,789

.

$ 350

-4,998

7.000

s

65,156 54.175 6,819 12.348

20,883

12,900 33,783

584

584

86,738

a6,738

220,848 $ 65,156 $ 54,175 $ 6.819 $ 12,348 $ 33,783 $ 87,322 S


s

s

CDBG

94,738

40

-

-

94,778

s

$"

Enhancing Education Through

Technology

4,801 168

-

4,969

$

$

Enhancing Education Through

Technology ARRA

-

509 234

-

743

$

$'

Food Service

1,702,791

99,569 39,728

53,262 1.895.350

S

$"

Foreign Contributions

11.400

.

. -

11,400

S

$'

Head Start

246,151 6.695

-

252,846

S

$"

Headstart Body Start

-

"

-

-

S

$"

Head Start ARRA COLA

12,055 1,823

•

13,878

S

s'

Head Start Construction

27

12,191

-

-

12,213

--

94,278

-500

94,778

s 65 4,568

336

--

4,969

$ -743

---

743

S

-

--

973,129 25,164

-998,293

S 11.400 $ 52,287 23,314

177,245

11.400 252.846

2,642 11,236

13,878

12,218

12,218

897,057

897,057

$ 94,778 i 4.969 $ 743 S 1.895.350 J 11,400 $ 252,846 $ $ 13.878 $ 12.218


NONMAJOR GOVERNMENTAL FUNDS COMBINING BALANCE SHEET

JUNE 30.2010


ASSETS: Cash Cash equivalents Investments Accounts receivable Interfund receivable

Prepaid expense Accrued interest receivable Inventory TOTAL ASSETS

UABILITIES: Accounts payable Cash overdraft Interfund payables Deferred revenue Advance from General Fund

Total liabilities

FUND EQUITY: Unreserved fund balance Reserved for debt service Designated for construction Total fund equity

TOTAL LIABILITIES AND FUND EQUITY

-

$

S~

s

-

-

s

Hurricane Educator

Assistance Program

48

--

341 90.000

---

9Q,3&9

90,389

----

90.389

---.

90,389

S

$"

s

s

HERA Education for the homeless

---

6,295

----

6,295

-6.295

•

--

6,295

----

6,295

-

$

s'

s

-

s

LA 4 Temporary

Assistance for Needy

Families

•

--

14,496

----

14,496

•

-14,496

--

14,496

---.

14,496

-

$

$'

$

-

•

5

Metropolitan Human Services EHstrict

---

32,191

--•

-32,191

-19,574 3,796

--

23,370

8,821

--

8,821

32,191

-

S

s'

s

-

-

. s

Migrant Education

13,771

--

4,859

----

18,630

171

-13.459

-5.000

18,630

----

18,630

-

$

$~

S

-

-

$

Restart

639,180

-•

42,816 7,226

90,038

--

779,260

4,517

-24,743

-750.000 779.260

----

779.260

-

S

$~

$

-

-

s

Special Education

181,450

--

843,604 29.086 62,880

--

1.117,020

16,210

-826,339

-10.000

852,549

264,471

--

264,471

1,117,020

-

S

$'

s

• -

"

$

State Fiscal Stabilization Fund ARRA

39,609

-------

39,609

--

39,609

--

39,609

----

39,609


Teaching Leaming

Technology Center

--

35,662 226

•

--

35,888

S

$ ' •

Technical Preparation

---

760

---

760

S

Vocational Education

66,625

-

33 100

---

66,808

-

S

$'

Capital Projects

Fund

2003 Construction

Fund

774,734 410,504

---

2,741

-1,187,979

-

$

s'

General Obligation

Sinking Fund

503.518

--

26,963

---

530.481

Debt Service Funds

92 Sales Tax Bond Sinking

Fund

$ 716.546

-204.235 102,117

-•

-$ 1,022,893

S

$

92 Sales Tax Bond

Reserve Fluid

176,086 1,229,261

---

5,611

-1,410.958

S

$'

Bond Issue Sinking Fund

5.307,617 •

280,000 140,000

--.

6.227.617

$

$~

Total

2,882,294

7,978,501 1,639,765 2.083,719

544,101 152,918

8,352 5 3 > 2

15,347,912

1,949 $ 6 $ 90S $ - S - s - s 194,129 3,343

30,096

35,888

-

-

35,838 $

754

760

-

-

760 $

903

65,000 66,808

-

-

66,808 $

-

-

1.187,979 I, 1,187,979

1,187,979 $

-

-

530,481

530,481

530.481 J

-

-

1,022,898

1,022,898

1,022.398 $

-

.

1,410,958

1.410,953

1,410.958 $

-

-

6,227,617

6.227,617

6,227,617 S

83,416 2.537,783

25,164 870,400

3,710,892

1,257,087 9,191,954 1,187,979

11.637,020

15.347.912


NONMAJOR GOVERNMENTAL FUNDS COMBINING STATEMENT OF REVENUES, EXPENDFTURES

AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED JUNE 30.2010


REVENUES: Local sources: Interest eamings Sales (axes Food service income Contributions and donations Other income

Restricted Funds: State sources Federal sources - through State Federal sources - commodities Federal sources - direcl

Unrestricted Funds: State sources Total revenues

EXPENDITURES-. Instruction: Regular programs Special programs Vocational education Other instructional programs

Support Service Programs: Pupil support Instructional staff support General administration Business services Operations and maintenance Student transportation

Debl Service-Principal retirement Interest payment

Bank. legal fees and other Food service program

Total expenditures


OTHER FINANCING SOURCES (USES): Transfer of indirect costs Gain (loss) on investments Transfers in Transfers out

Total other fmancing sources (uses)

EXCESS (DEFICIENCY) OF REVENUES AND OTHER nNANClNG SOURCES OVER EXPENDITURES AND OTHER FINANCmC USES

Fund balance - beginning of year

FUND BALANCE - END OF YEAR

Title I Title I ARRA

Adult Title H Title 111 Title IV TilleV Title XIX Education

- S

1,080,567

1,080,567

619.311

414.974

2,621

1,036.906

43.661

1.390

- $

212,336 272,161

12.804

212,336 272.161

196.462 99,278

3,070

161,670

199.532 260,948

11.213

(45,051) (12,804) (11.213)

(45.051) (12,804) (11.213)

(1.39Q)

1,763

6,789 17,762

6.789

6,789 19,525

4,771

1,621

13,133

6.789 19,525

(3,926)

(3-926)

(3.926)

3.926

130 $

49,525

49.655

21,577

21.577

28,078

5 28,078

(5) 58.660

(56)

(56)

J ^

53

- S 86,738 $

Special Revenue Funds Enhancing

Enhancing Education Education Through Through Technology Foreign Head Start Head Start Head Start

CDBG Technology ARRA Food Service Contributions Head Start Body Start ARRA COLA Construction

$ 1.822 $

276,221

94,278 8,958 10,258 1,233,733

60.537

259,152

(94.278)

(94,278)

1,734,240

97.225

799.832

$ 897.057 $

5,000

797.258 • 50.189 2,032,121

94,278 8,958 10,258 1,831,465 - 797,258 5,000 50,189 2.032.121

1,236 - . - . . 698 - - 516.027 5,000 45.449 2.032,121

5.577 - 29 8,95» 8,324 - - 275,654 - 4.711

•_ 8.958 10.258 1.734,240 ^ 797.258 5.000 50.189 2.032,121

94.278 - - 97,225 - . . .


NONMAJOR GOVERNMENTAL FUNDS COMBINING STATEMENT OF REVENUES, EXPENDFTURES

AND CHANGES IN FUND BALANCE FOR THE YEAR ENDED JUNE 30.2010


REVENUES: Local soiu-ces: Interest earnings Sales taxes Food service income Contributions and donations Other income

Restricted Funds; State sources Federal sources - through State Federal sources - commodities Federal sources - direct

Unrestricted Funds: State sources Total revenues

EXPENDITURES: Instruction:

Regular programs Special programs Vocational education Other instructional programs

Support Service Programs: Pupil support Instructional staff support General administration Business services Operations and maintenance Student transportation

Debt Service: Principal rctiiement Interest payment

Bank, legal fees and other Food service program

Total expenditures .

EXCESS (DEHCIENCY) OF REVENUES OVER EXPENDITURES

OTHER. FINANCING SOURCES (USES): Transfer of indirect costs Gain (loss) on investments Transfers in Transfers out

Total other financing sources (uses)

EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING USES

Fund balance - beginning ofyear

FUND BALANCE. END OF YEAR

LA 4 Hurricane Temporary Metropolitan Educator HERA Assistance for Human

Assistance Education for Needy Services Migrant Program the homeless Families District Education

116,705

116.705

6.329

110,376

116,705

Restart

- $

7.018 61,590

7.018 61,590

723 58,452

6.295

7,018 58,452

3.138

(3,138)

(3.138)

61,625

3,384

49.186

8,821

8.821

14,632 4,549,869

Special Education

2,300

50,149 1.825,937

61,625 14,632 4,549.869 1,878,386

234 14,632 781,229 818.555

138,855 706,742

2,597 44

588

52,804 14.632 781,229 1,667.381

3,768.640 211,005

(87.814)

(3.768.640)

(3.768.640) (87.814)

123,191

141.280

- $ 8.821 S - $ 264.471

State Fiscal Stabilization Fund ARRA

$ - $

-

373.676 .


Teaching Leaming

Technology Technical Center Preparation

- $ - S . . . -

233.944 . _

Vocational Education

- $ , . . -

, 44397

.

.

Capital Projects

Fund

2003 Construction

Fund

13,686 $ . , .

2.050

. -. .

General Obligation

Sinking Fund

252 . . . -

. --.

Debt Service Funds

92 Sales Tax Bond

92 Sales Tax Bond

Reserve Bond Issue Sinking Fund Fund Sinking Fund

$ 1.560 S 25.593 $ 6378 $ 1,232,445

. --

. --.

1,680,000 ---

. --.

Total

49.424 2,912,445

276.221 4,063

68,675

99,674 10.164.610

60.537 2,879,568

373,676 233.944 44,397 15,736 252 1.234,005 25,593 1.686,378 259.152

16.774,369

330,472 6,597

44,397

331,708 5.212.657

44.397

36,607 161.353

, -. . --

.

. --

373,676

""

----

-220,180

--

2,862 •

. --.

223,042

10.902

(10.902)

--• •

(10,902)

------

.

. -. .

----

------

. ---

44.397

-• •

--

--

75 --•

, ---

75

15.661

(2.423)

--

(2.423)

--. ---

256,000 60.659

--

316.659

(316,407)

-356,962

-356,962

------

1.030.000 200.653

250 -

1.230.903

3,102

----

--

75 ---

. •

--

75

25,518

(3,293) •

-(3.293)

------

-----

1.686,378

----

215.224 I.8I4.346

150 2,597 3,527

588

1,286.000 261.312

250 1,734.240

11.070,349

5,704,020

(170,917) (5,716)

356,962 (3,866,900)

(3,686.571)

13,238 40,555 3,102 22,225 1.686.378 2,017,449

1.174,741 489,926 1.019,796 1,388,733 4,541,239 9.619,571

• $ - $ ' $ • $ 1.187,979 S 530.481 S 1.022.898 S 1,410,958 $ 6.227,617 S 11,637,020


SCHOOL ACTIVITY AGENCY FUND SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES


PAGE 57

SCHOOL

Belle Chasse High School

Belle Chasse Middle School

Belle Chasse Primary School

Boothville-Venice High School

Phoenix High School

South Plaquemines High School

South Plaquemines Elementary School

Leaming Center (Alternative School)

Balance Balance Julv 1,2009 Additions Deletions June 30.2010

$ 234,266 $ 745,823 $ 804,275 $

75,095 246,328 260,989

202,634 394,143 434,161

29,623

29,495

43,584

68,773

480

71,452

22.877

286,740

30,678

668

70,562

39,217

289,646

58,041

382

175,814

60,434

162,616

30,513

13,155

40,678

41,410

766

TOTALS $ 683,950 $ 1,798,709 $ 1,957,273 $ 525,386


SCHEDULE OF COMPENSATION PAID TO BOARD MEMBERS FOR THE YEAR ENDED JUNE 30.2010

Board Member Amount

Helen Barrios $ 9,600

Sharon Branan 9,600

Michael Jiles 9,600

Joyce Lamkin (President 06/09 - present) 10,800

Carlton LaFrance 9,600

Nancy Lahaye 9,600

Paul Lemaire 9,600

William Mertz 9,600

Anthony St. Philip 9,600

TOTAL 5; 87,600

COMPENSATION PAID TO BOARD MEMBERS

The schedule of compensation paid to the school board members was prepared in compliance with House Concurrent Resolution No. 54 of the 1979 Session of the Louisiana Legislature.

The compensation of the school board members is included in the general administrative expenditures of the General Fund. In accordance with Louisiana Revised Statute 17:56, the school board members have elected the monthly payment method of compensation. Under this method, each member of the school board receives $800 per month and the president receives $900 per month for performing the duties of this office.

M DUPLANTIER, HRAPMANN. HOGAN & MAHER. L.L.P.

MICHAEL J. 0 ' R 0 1 ; R K E , C . P . A . ^^^^^^^^^^^^l^^m^^^^^^^^^^^^^^i^^^^K^^^^^m^ AJ. DUPLANTIERJR, C.P.A. WILLIAM G. STAMM. C.P.A ^ ^ ^ ^ • ^ ^ ^ M {1919.1983) cuFTORDJ.GiFnN.jR,c.p.A. ^ ^ ^ B I ^ ^ ^ V C E R T I F I E D P U B L I C A C C O U N T A N T S rauxj.HRAPMANN,jB.cp.A. DAVID A. BURGARD, C.P.A. • • 1 1 I I (1919-1990) UNDSAVJ.CALUB,C.P.A..L,L.C. " ^ ^ ™ ™ ™ WlLUAMR.HOGAN,JR.CPjt GUV L. DUE1.ANTIER. C.P.A. (191D-1996) MICHELLE H. CUNNINGHAM. C.P.A JAMES MAHER. JR,CPJL DENNIS W. DILLON. C.P.A. fl911-1999i

ANNaHEBERT,C.P.A. MEMBERS GRADV C. LLOVD, i n . CPA. AMERICAN INSTITUTE OF HENRV L SILVIA, C.P.A.. CERTIHED PUBUC ACCOUNTANTS

SOaETY OF LA C.P.A.'S

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS

BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

December 17,2010 Plaquemines Parish School Board Belle Chasse, Louisiana

We have audited the financial statements of the govemmental activities, the major fimd and the aggregate remaining fimd information of the Plaquemines Parish School Board as of and for the year ended June 30, 2010 which collectively comprise the school board's basic financial statements and have issued our report thereon dated December 17, 2010. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States.

Intemal Control Over Financial Reporting

In planning and performing our audit, we considered the school board's intemal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the school board's intemal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Plaquemines Parish School Board's intemal control over financial reporting.

A deficiency in intemal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned fimctions, to prevent or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in intemal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis.

1615 Poydras Street, Suite 2100 New Orleans, LA 70112 • (504)586-8866- Fax (504) 525-5888 1670 Old Spanish Trail Slidell, LA 7(W58 • (985)649-9996- Fax (985)649-9940

247 Corporate Drive Houma. LA 70360 • (985)868-2630- Fax (985) 872-3833 www.dhhnicpa.com

http://www.dhhnicpa.com

Our consideration of intemal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in intemal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in intemal control over financial reporting that we consider to be material weaknesses, as defined above.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the school board's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

We noted certain matters that we reported to management of Plaquemines Parish School Board in a separate letter dated December 17,2010.

This report is intended solely for the information and use of Plaquemines Parish School Board, its management, the State of Louisiana and the Legislative Auditor for the State of Louisiana and is not intended to be and should not be used by anyone other than these specified parties. Under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as a public document.

iDupiantiefc, Jtiopmann, Megun S. Maheft,, ££fP

din MICHAEL J. 0'ROURKE.C.P.A. WILUAM C STAMM. C.P.A. CUFFORD J. GIFTIN. JR. C.P.A. DAVID A. BURGARD. C.P.A. LINDSAY J. CALUB, C.P.A., L.L.C. GUY L. DUPLANTIER, C.P.A. MICHELLE K. CUNNINGHAM, C.P.A DENNIS W. DILLON. C.P.A.

ANNH.HEBERT,C.PA. GRADY C. LLOYD, 111. C.P.A. HENRY 1. SILVIA, C.P.A..

D U P L A N T I E R - H R A P M A N N , H O G A N & M A H E R , L.L.P.


AJ. DUPLANTIER JR, C.P.A. (19t9-198S)

FEUX J. HRAPMANN, JR, C P A (1919-1990)

WILLIAM R. HOGAN. JR. C.P.A. (19ZM996)

JAMES MAHER, JR. C.P.A. ri9I1-1W9\

MEMBERS AMERICAN INSTITUTE OF

CERTinED PUBUC ACCOUNTANTS SOCIETY OF LA C.P.A.'S

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT

AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER

COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133

December 17,2010 Plaquemines Parish School Board Belle Chasse, Louisiana

Compliance

We have audited the compliance of Plaquemines Parish School Board, with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2010. The school board's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major federal programs is the responsibility of the school board's management. Our responsibility is to express an opinion on the school board's compliance based on our audit.

We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the school board's compliance with those requirements and performing such other procedures as we considered necessaiy in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the school board's compliance with those requirements.

1615PoydrasStreet,Suite2100 New Orleans, LA 70112 • (504)586-8866- Fax (504) 525-5888 1670 Old Spanish Trail Slidell, LA 70458 • (985)649-9996- Fax (985)649-9940 247 Coiporate Drive Houma, LA 70360 • (985)868-2630- Fax (985) 872-3833

www.dhhn)q)a.cQni

http://www.dhhn)q)a.cQni

In our opinion, the school board complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2010. However, the results of our auditing procedures disclosed one instance of non-compliance with those requirements, which is required to be reported in accordance with OMB Circular A-133 and which is described in the accompanying schedule of findings and questioned costs as item 2010-01.

Intemal Control Over Compliance

The management of Plaquemines Parish School Board is responsible for establishing and maintaining effective intemal control over compliance with the requirements of laws, regulations, contracts, and grants applicable to federal programs. In planning and performing our audit, we considered the school board's intemal control over compliance with the requirements that could have a direct and material effect on a major federal program to determine our auditing procedures for the purpose of expressing our opinion on compliance, and to test and report on intemal control over compliance in accordance with OMB A-133, but not for the purpose of expressing an opinion on tfie effectiveness of intemal control over compliance. Accordingly, we do not express an opinion on the effectiveness of Plaquemines Parish School Board's internal control over compliance.

A deficiency in intemal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned fimctions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in intemal control over compliance is a deficiency, or combination of deficiencies, in intemal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis.

Our consideration of intemal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in intemal control over compliance that might be deficiencies or material weaknesses. We did not identify any deficiencies in intemal control over compliance that we consider to be material weaknesses, as defined above.

The school board's response to the finding identified in our audit is described in the accompanying schedule of findings and questioned costs. We did not audit the school board's response and, accordingly, we express no opinion on the response.

This report is intended solely for the information and use of Plaquemines Parish School Board, its management, the State of Louisiana and the Legislative Auditor for the State of Louisiana and is not intended to be and should not be used by anyone other than these specified parties. Under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as a public document.

S)upiaaU&i, Mtapmann, Megan JL Maike/c, Z£fP

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS


PAGE 63

Federal CFDA

Number Grant

Number

Passed through the State of Louisiana:

Department of Agriculture

10.550 None

10.555 A 10.559 10.555 10.553

None None None None

Food Distribution

Child Nutrition Cluster: ** ARRA - National School Lunch Program Summer Food Service Program for Children National School Lunch Program National School Breakfast Program

Total Department of Agriculture

Department of Education

Expenditures

$ 60,537

7,395 39,675

906,421 280.242

1.294.270

84.0 lOA

84.389

84.011

84.027A 84.027A 84.173 A 84.027A 84.391A 84.392A

84.048

84.186A

84.387A

84.3 86A 84.318X 84.318X

84.367A

84.394A

S010A060018

None

28-08-M1-26

H027A080033 H027A080033 H173A070082 H027A070033

V048A080018A

Q186A070019

S387A090019

S298A070018 S318X070018 S318X070018

S367A080017

S394A090019

Title I, Part A Cluster: ** Title I Grants to Local Education Agencies (Educationally Deprived Children - Part A Basic) 1,081,957

ARRA - Title I Grants to Local Education Agencies (Educationally Deprived Children - Part A Basic) 212,336

Migrant Education - Basic State Grant Program 14,632

Special Education Cluster: ** Special Education-Grants to States (IDEA, Part B) 893,267 LA Assistant Technology Initiative 233,510 Special Education-Preschool Grants (IDEA Preschool) 10,033 LA State Improvement Grant 91,616 ARRA - IDEA Part B, Recovery Act (IDEA, Part B) 448,850 ARRA - IDEA Part B, Recovery Act (Pre-school) 13,721

Vocational Education - Basic Grants to State 44,397

Safe and Drug-Free Schools and Communities -

State Grants - Title IV 17,762

ARRA - Education for Homeless Children & Youth 7,018

Educational Technology State Grants Cluster: ARRA - Education Technology State Grants Recovery Act 10,258 Teaching, Leaming Technology Center 233,944 Enhancing Education Through Technology 8,958

Title II Part A, Teacher and Principal Training 272,161 and Recruiting Fund

ARRA - State Fiscal Stabilization Fimd-Education Grants ** 373,676

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS


PAGE 64

(Continued)

Federal CFDA

Number

84.365A

84.938A 84.938K

Grant Number

T365A080018

S938A060002A S938K080001

93.558 658108

Titie ni

Hurricane Education Recovery Act Program; Immediate Aid to Restart School Operations Hurricane Educator Assistance Program

Total Department of Education

Department of Health and Human Services

Temporary Assistance of Needy Families

Total Department of Health and Human Services

Expenditures

$ 6,789

781,229 116.705

4.872.819

61.590

61.590

97.036

97.03

FEMA-1603

EMT-2006-LF-1603LA14

Department of Homeland Security

Federal Emergency Management Agency- ** Public Assistance Grants

Community Disaster Loan Program (Outstanding Loan Balance)

Total Department of Homeland Security

Total Federal Awards Passed Through the State of Louisiana

Received directly from the federal govemment:

Department of Agriculture

84.041B S041B-2009-2801 Impact Aid

Total Department of Agriculture

Department of Health and Human Services

Head Start Cluster: ** Head Start Program ARRA - Head Start Program - Quality Improvement Head Start Program - Construction

Total Department of Health and Human Services

Total Federal Awards Received Directiy from tiie Federal Govemment

TOTAL PROGRAM EXPENDITURES

93.600 93.708 93.600

06CH0423/16 06SE0423/01 06WH0007/01

** Denotes major program.

14,577,130

5.689.194

20.266.324

26.495.003

58,632

58,632

797,258 50,189

2.032.121

2.879.568

2.938.200

2Q.41.-i.20

PLAQUEMINES PARISH SCHOOL BOARD NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS


L SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

The Schedule of Expenditures of Federal Awards of the Plaquemines Parish School Board has been prepared in conformity with accounting principles generally accepted in the United States of America as applied to govenmiental units. Expenditures are recognized when incurred.

2. DETERMINATION OF TYPE A AND B PROGRAMS:

Federal awards programs are classified as either Type A or Type B programs. For the period ending June 30, 2010, Type A programs consist of the federal programs that expended over $712,320 and Type B programs are the programs that expended under $712,320.

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE OF FINDESfGS AND QUESTIONED COSTS

FOR THE YEAR ENDED JUNE 30,2010

PAGE 66

SECTION I - SUMMARY OF AUDITOR'S RESULTS:

Financial Statements

Type of auditor's report issued: unqualified

Intemal control over financial reporting:

* Material weakness(es) identified?

* Significant deficiencies identified that are not

considered to be material weaknesses?

Noncompliance material to financial statements noted?

Federal Awards:

Intemal control over major programs:

* Material weakness(es) identified?

* Significant deficiencies identified that are not considered to be material weaknesses?

yes

yes

yes

yes

Type of auditor's report issued on compliance for major programs: unqualified

Any audit findings disclosed that are required to be reported in accordance witii section 510(a) of Circular A-133;

Identification of major programs:

Name of Program

Title 1-Part A Cluster ARRA - Grants to Local Education Agencies Grants to Local Education Agencies

Child Nutrition Cluster ARRA - National School Lunch Program National School Breakfast Program School Lunch Summer Food Services Program

ARRA - State Fiscal Stabilization Fund FEMA - Public Assistance Grant

X yes

X no

X none reported

X no

X no

yes X none reported

no

CFDA No.

84.389 84.010A

10.555A 10.553 10.555 10.559 84.394A 97.036

Expenditures

$ 212,336 1,081,957

7,395 280,242 906,421 39,675

373,676 14,577,130

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE OF FESIDINGS AND QUESTIONED COSTS


SECTION I - SUMMARY OF AUDITOR'S RESULTS: (Continued)

Federal Awards: (Ontinued)

CFDA No. Expenditures

Identification of major programs: (Continued)

Name of Program

Special Education Cluster: IDEA Part B LA Assistive Technology Initiative IDEA Pre-School ARRA-IDEA Parts ARRA - Pre-School LA State Improvement Grant

Head Start Cluster; Head Start Program ARRA - Head Start Program - Quality Improvement Head Start Program - Constmction

Dollar threshold used to distinguish between Type A and Type B programs: $ 712,320

Auditee qualified as low-risk auditee? yes X no

84.027A 84.027A 84.173A 84.391A 84.392A 84.027A

93.600 93.708 93.600

893,267 233,510

10,033 448,850

13,721 91,616

797,258 50,189

2,032,121 $22,049,397

SECTION II - FINDINGS REQUIRED TO BE REPORTED UNDER GENERALLY ACCEPTED (GOVERNMENTAL AUDITING STANDARDS:

NONE

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE OF FINDINGS AND QUESTIONED COSTS


SECTION III - FINDINGS AND OUESTIONED COSTS FOR FEDERAL AWARDS:

FEMA PUBLIC ASSISTANCE GRANT - DUPLICATE REIMBURSEMENT: (2010-01)

Condition: Expenditures in the amount of $14,821 were included twice on requests for reimbursement fi'om the Department of Homeland Security (CFDA No. 97.036).

Criteria: Items requested for reimbursement should be adequately documented to avoid

duplication.

Cause: The duplicate request for the expenditures was an unintentional error.

Effect: The school board received an over-reimbursement of $14,821. Recommendation: It is recommended that the school board inform the Department of Homeland

Security of the duplicate pajonent and take necessary action to repay the $14,821.

Management's Response: The school board will inform the Department of Homeland Security of the

duplicate payment and take necessary action to repay the $14,821.

PLAQUEMINES PARISH SCHOOL BOARD SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS


FINDINGS REOUIRED TO BE REPORTED UNDER GENERALLY ACCEPTED GOVERNMENTAL AUDITING STANDARDS:

ACCOUNTING AND REPORTING PROCESS: (2009-01)

Condition:

Criteria:

Cause:

Effect:

Recommendation:

The School Board experienced significant delays in its accounting and reporting process.

Complete and accurate general ledgers, including supporting schedules for balances in the general ledger should be produced timely.

There is a lack of training and skills required for producmg complete and accurate financial statements and for monitoring and reviewing the completeness and accuracy of the financial statements.

There are significant delays in the production of timely and accurate financial statements needed to meet reporting requirements.

It was recommended that the school board perform a thorough evaluation of the accounting process and consider hiring an outside consulting firm to advise the school board to make the accounting process more efficient and productive. It was also recommended that the school board consider establishing an audit committee in an effort to improve financial oversight and to monitor intemal controls and accounting policies and procedures.

This finding has been resolved with assistance fi'om outside sources.

CASH RECONCILIATION AND MANAGEMENT: (2009-02)

Condition:

Criteria:

Cause:

Effect:

Reconciliations for the general fiind operating account, general fund payroll account and federal fimd account were not prepared during the fiscal year. Certain employees authorized to make cash transfers have access to payroll and other accounting databases.

All bank accounts should be reconciled to the general ledger on a monthly basis, and there should be segregation of cash management duties.

There is a lack of training and skills required for producing accurate and timely financial information. Cash transfer duties have been assigned to expedite the transfer process.

The cash flow position of the school board is not determined at any given point in time, which impacts management's ability to monitor operations and manage cash flow. Misappropriation of cash is possible due to lack of segregation of duties.



FINDINGS REQUIRED TO RE REPORTED UNDER GENF.RALLY ACCEPTED GOVERNMENTAL AUDITING STANDARDS: (Continued)

CASH RECONCILIATION AND MANAGEMENT: (2009-02) (Continued)

Recommendation: It was recommended that all bank accounts be reconciled monthly to the general ledger. It was also recommended that cash transfer duties be segregated fi-om accounting database duties.

This finding has been resolved with assistance fi-om outside sources.

TITLE I - DUPLICATE REIMBURSEMENT: (2009-03)

Condition: Payroll expenditures in the amount of $138,780 were included twice on requests for reimbursement fi-om the Department of Education (CFDA No. 84.010A).

Criteria: Items requested for reimbursement should be adequately documented to avoid

duplication.

Cause: The duplicate request for the payroll expenditures was an unintentional error.

Effect: The school board received an over-reimbursement of $138,780.

Questioned cost: $138,780 Recommendation: It was recommended that the school board inform the Department of Education of

the duplicate payment and take necessary action to repay the $138,780.

This finding has been resolved.

FEDERAL FUND BANK ACCOUNT- INTEREST INCOME: (2009-04)

Condition: The school board's federal grant fimd bank account eamed interest in the amount of $5,162 during the year ended June 30, 2009 and the interest was not remitted to tiie appropriate federal agency (CFDA No. 84010A).

Criteria: Interest eamed on advances by local govemment grantees is required to be submitted timely to tiie Federal agency. The grantee may retain up to $100 per year for administrative expenses.


FOR THE YEAR ENDED JUNE 30, 2010

FINDINGS REOUIRED TO BE REPORTED UNDER GENERALLY ACCEPTED GOVERNMENTAL AUDITING STANDARDS: (Continued)

FEDERAL FUND BANK ACCOUNT- INTEREST INCOME: (2009-04) (Continued)

Condition: The school board's federal grant fimd bank account eamed interest in the amount of $5,162 during the year ended June 30, 2009 and the interest was not remitted to the appropriate federal agency (CFDA No. 8401OA).

Criteria: Interest eamed on advances by local govemment grantees is required to be submitted timely to the Federal agency. The grantee may retain up to $100 per year for administrative expenses.

Cause: The school board does not have procedures in place to monitor interest earned and to remit it timely to the appropriate federal agency.

Effect: The school board retained $5,062 of interest income that is due to the appropriate federal agency.

Questioned cost: $5,062

Recommendation: It was recommended that the school board implement procedures to monitor interest eamed on federal funds and remit interest to tiie appropriate federal agency timely.

This finding has not been resolved since the $5,062 of interest eamed has not yet been remitted to the federal agency.

This finding has not been repeated as a current year finding since there was no interest eamed on the account in the current fiscal year.

dni-i DUPLANTIER. H R A P M A N N , H O O A N & M A H E R , L.L.P.

MICHAEL J. O'ROURKi:, C.P.A. WILUAM a STAMM, CP-A. CUFFORD J. GIFRN, JR. C.P.A. DAVID A. BURGARD, C.P.A. LINDSAY J. CALUB, C.P^V, LL.C. GUY L, DUPLANTIER, C-P-A. MICHELLE H. CUNNINGHAM, C.P.A DENNIS W. DILLON, C.P.A.

ANNH.HEBERT,C.P.A. GRADY C. LLOYD, III, CP-A. HENRY U SILVIA, C.P.A..

num CERTIFIED PUBLIC ACCOUNTANTS

A. J. DUPLANTIER JR. C.P.A. (1919-198!)

FEUX J. HRAPMANN. JR. C.P.A. (1919-1990)

WILUAM R. HOGAN, J R C.P.A. (1910-1996)

JAMES MAHER, JR,C.P.A. fiyzi-i?9?> MEMBERS

AMERICAN INSTITUTE OF CERTinED PUBLIC ACCOUNTANTS

SOCIETY OF LA C.P.A.'S

INDEPENDENT ACCOUNTANT'S REPORT ON APPLYE^G AGREED-UPON PROCEDURES

December 17,2010

Plaquemines Parish School Board Belle Chasse, Louisiana

We have performed the procedures included in the Louisiana Govemmental Audit Guide and enumerated below, which were agreed to by the management of Plaquemines Parish School Board, the Board of Elementary and Secondary Education, the Louisiana Legislamre and the Legislative Auditor, State of Louisiana, solely to assist users in evaluating management's assertions about the performance and statistical data accompanying the armual financial statements of Plaquemines Parish School Board and to determine whetiier the specified schedules are fi-ee of obvious errors and omissions as provided by the Board of Elementary and Secondary Education. This agreed-upon procedures engagement was performed in accordance with attestation standards established by the American Institute of Certified Public Accountants and applicable standards of Govemment Auditing Standards, published by the United States Comptroller General. The sufficiency of these procedures is solely the responsibility of the specified users of the report. Consequently, we 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.

Our procedures and findings relate to the accompanying schedules of supplemental information and are as follows:

General Fund Instmctional and Support Expenditures and Certain Local Revenue Sources (Schedule 1)

Schedule I, as presented in this report, was prepared with data fi-om the Annual Financial Report submitted to the State Department of Education on October 29, 2010 by the school board. Subsequentiy, adjustments were made to tiie financial statements that may have affected Schedule 1. Therefore, Schedule 1 may not reflect final balances included within the audited financial statements.

1615 Poydras Street, Suite 2100 New Orleans, LA 70112 • (504)586-8866- Fax (504) 525-5888 1670 Old Spanish Trail Slidell, LA 70458 • (985)649-9996- Fax (985)649-9940 247 Corporate Drive Houma, LA 70360 • (985) 868-2630 - Fax (985) 872-3833

www.diihiTiqia.coin

http://www.diihiTiqia.coin

1. We selected a sample of 25 transactions fi-om the general ledger supporting the Annual Financial Report and reviewed supporting documentation to determine if the sampled expenditures/revenues were classified correctly and were reported in the proper amounts for each of the following amounts reported on the schedule:

Total General Fund Instmctional Expenditures, Total General Fund Equipment Expenditures, Total Local Taxation Revenue, Total Local Eamings on Investment in Real Property, Total State Revenue in Lieu of Taxes, Nonpublic Textbook Revenue, and Nonpublic Transportation Revenue.

No exceptions were noted for the items selected for testing.

Recommendation:

We recommend that the school board prepare Schedule 1 based on completed financial information.

Management's Response:

The school board will implement procedures to ensure that Schedule 1 is prepared based on completed financial statements.

Education Levels of Public School Staff (Schedule 2)

2. We reconciled the total number of fiill-time classroom teachers per the schedule "Experience of Public Principals, Assistant Principals and Full-time Classroom Teachers" (Schedule 4) to tiie combined total number of fiill-time classroom teachers per this schedule and to school board supporting payroll records as of October I st.

No exceptions were noted.

3. We reconciled the combined total of principals and assistant principals per the schedule "Experience of Public Principals, Assistant Principals and Full-time Classroom Teachers" (Schedule 4) to the combined total of principals and assistant principals per this schedule.


4. We obtained a list of fiill-time teachers, principals and assistant principals by classification as of October 1st and as reported on the schedule. We traced a sample of 25 teachers to the individual's persormel file and determined if the individual's education level was properly classified on the schedule.


Number and Type of Public Schools (Schedule 3)

5. We obtained a list of schools by type as reported on the schedule. We compared the list to the schools and grade levels as reported on the Title I, Grants to Local Educational Agencies (CFDA 84.010A) application for program year 2009-2010.


Experience of Public Principals. Assistant Principals and Full-time Classroom Teachers (Schedule 4)

6. We obtained a list of fiill-time teachers, principals, and assistant principals by classification as of October 1st and as reported on the schedule and traced the same sample used in procedure 4 to the individual's persormel file and determined if the individual's experience was properly classified on the schedule.


Public Staff Data: Average Salaries (Schedule 5)

7. We obtained a list of all classroom teachers including their base salary, extra compensation, and ROTC or rehired retiree status as well as fiill-time equivalent as reported on the schedule and traced a random sample of 25 teachers to the individual's personnel file and determined if the individual's salary, extra compensation, and fiill-time equivalents were properly included on the schedule.

8. We recalculated the average salaries and fiill-time equivalents reported in the schedule.


Class Size Characteristics (Schedule 61

9. We obtained a Hst of classes by school, school type and class size as of October 1st to reconcile to class sizes as reported on the schedule and to reconcile school type classifications to Schedule 3 data, as obtained in procedure 5. We traced a sample of 10 classes to the October 1 ' rollbooks for these classes to determine if the class was properly classified on Schedule 6.

The following exceptions were noted:

a) For 4 out of 10 classes selected for testing, the number of students per the roll books did not agree to the number of students per the supporting schedules; however, the class size was classified correctiy.

b) For 1 out of 10 classes selected for testing, the number of students per tiie roll books did not agree to the number of smdents per the supporting schedules. This resulted in tiie class being incorrectly included in the 1-20 category instead of the 21-26 category.

Recommendation:

We recommend tiiat the school board implement procedures to property report the class sizes on Schedule 6.

Management's Response:

The school board will implement procedures to ensure that class sizes are properly reported on Schedule 6.

Louisiana Educational Assessment Program (LEAP) (Schedule 71

10. We obtained test scores as provided by the testing authority and reconciled scores as reported by the testing authority to scores reported in the schedule by Plaquemines Parish School Board.


The Graduation Exit Examination (Schedule 81



The iLeap tests (Schedule 91



We were not engaged to, and did not, conduct an audit, the objective of which would be the expression of an opinion on management's assertions. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

This report is intended solely for the use of management of Plaquemines Parish School Board, the Louisiana Board of Elementary and Secondary Education, the Louisiana Legislature, and the Legislative Auditor, State 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. Under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as a public document.

^upianUefCy Jimpnuuuit Megan S. Maheft, £ £ ^

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE I

GENERAL FUND INSTRUCTIONAL AND SUPPORT EXPENDITURES AND CERTAIN LOCAL REVENUE SOURCES


GENERAL FUND INSTRUCTIONAL AND AND EQUIPMENT EXPENDITURES

General Fund Instructional Expenditures Teacher and Student Interaction Activities: Classroom Teacher Salaries Other Instructional Staff Activities Instructional Staff Employee Benefit: Purchased Professional and Technical Service: Instructional Materials and Supplies Instructional Equipment

Total Teacher and Student Interaction Activities

$ 14,907,213 2,826,054 6,023,886

102,893 1,425,888

95,047 $ 25,380,981

Other Instructional Activities

Pupil Support Activities Less: Equipment for Pupil Support Activities

Net Pupil Support Activities

Instructional Staff Services Less: Equipment for Instructional Staff Services

Net Instructional Staff Services

School Administratior Less: Equipment for School Administratior

Net School Administration

Total General Fund Instmctional Expenditures

Total General Fund Equipment Expenditures

1,792,510

1,806,685

2,269.210

431,978

1,792,510

1,806,685

2,269,210

$ 31.681.364

$ 13.866.866

PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE I (CONTINUED)

GENERAL FUND INSTRUCTIONAL AND SUPPORT EXPENDITURES AND CERTAIN LOCAL REVENUE SOURCES


CERTAIN LOCAL REVENUE SERVICES: Local Taxation Revenue: Constitutional Ad Valorem Taxes $ 4,991,433 Renewable Ad Valorem Tax 15,214,482 Debt Service Ad Valorem Tax Up to 1% of Collections by the Sheriff on Taxes

Otiier tiian School Taxes 567,869 Sales and Use Taxes 16,260,763

Total Local Taxation Revenue $ 37.034.547

Local Eamings on Investment in Real Property Eamings fi"om 16th Section Property $ 53,202 Eamings from Other Real Property -

Total Local Eamings on Investment in Real Property $ 53.202

State Revenue in Lieu of Taxes: Revenue Sharing - Constitutional Tax $ 92,052 Revenue Sharing - Other Taxes Revenue Sharing - Excess Portion Other Revenue in Lieu of Taxes

Total State Revenue In Lieu of Taxes

Nonpublic Textbooks Revenue

Nonpublic Transportation Revenue

$

$

$

92.052

6.382

52,567

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PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE 3

NUMBER AND TYPE OF PUBLIC SCHOOLS FOR THE YEAR ENDED JUNE 30.2010

Type Elementary Middle/Jr. High Secondary Combination Total

Number 3 I 2 2 8

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PLAQUEMINES PARISH SCHOOL BOARD SCHEDULE 5

PUBLIC SCHOOL STAFF DATA: AVERAGE SALARIES FOR THE YEAR ENDED JUNE 30.2010

All Classroom Teachers

Classroom Teachers Excluding ROTC

or Rehired Retirees

Average Classroom Teacher's Salary Including Extra Compensation

Average Classroom Teacher's Salary Excluding Extra Compensation

Number of Teacher Full-time Equivalents (FTEs) used in Computation of Average Salaries

$45,581.29

$44,442.35

307

$45,149.26

$43,961.58

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MICHAEL J. CROUKKE, C.P.A. WILLIAM C. STAMM, C.P.A. CLIFFORD |. GIFFIN, JR., CP.A. DAVID A. BURGARD, C.RA. UNDSAY J. CALUB, C.RA, L.L.C. GUY L. DUPLANTIER, C.P.A. MICHELLE H. CUNNINGHAM, C.P.A. DENNIS W. DILLON, CJ-.A.

DUPLANTIER, HRAPMANN, HOGAN & MAHER, L.L.P.


ANN H. HEBERT, CPJi. CRADY C. LLOYD, UI. CPA. HENRY L. SILVIA, CPA.

A.J. DUPLANTIER. JR., CP.A. (1M9-I985)

FELIX J. HRAPMANN, JR., C.P.A. (1919-1990)

WILLIAM R. HOGAN, JR., CPA. (1920-1996)

JAMES MAHER, JR., CP.A. (1921-1999)

M£MBOt.S AMERICAN INSTITUTE OF

CERTIFIED PUBLIC ACCXJUNTANTS SOCIETY OF LA. C.P.AJS

December 17,2010 Plaquemines Parish School Board 557 F. Edward Hebert Blvd. Belle Chasse, LA 70037

In planning and performing our audit of the financial statements of the Plaquemines Parish School Board for the year ended June 30, 2010, we considered its internal control as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of its intemal control. However, during our audit, we became aware of certain matters that are opportunities for strengthening intemal control and improving operating efficiency. Following is a summary of our comments and recommendations regarding those matters.

FEMA - DUPLICATE REIMBURSEMENT: (2010-01)

It was noted that current year expenditures in the amount of $14,821 were included twice on requests for reimbxirsements from the Department of Homeland Security. The school board received an overpayment for this amount during the year ended June 30,2010.

Items requested for reimbursement should be adequately documented to avoid duplication. The duplicate request of expenditures was an unintentional error.

It is recommended that the school board take the necessary action to repay the $ 14,821.

FEDERAL FUND BANK ACCOUNT- DEFICIT CASH BALANCES: (2010-02)

It was noted that twenty federal grants are combined in one bank account. Ten of these twenty grants had deficit balances in the general ledger. The federal fiind bank account maintains a positive balance due to advances fi'om the general operating fiind. The co-mingling of twenty grants in one bank account creates the potential for improper payment of grant expenditures using another grant's revenue.

It is recommended that the school board review the federal fund bank account and consider opening separate accounts for the larger federal grants such as Title I, Head Start and Restart.

1615 Poydras St., Suite 2100 • New Orleans, LA 70112 • (504) 586-8866 • FAX (504) 525-5888 1670 Old Spanish Trail • Slidell, LA 70458 • (985) 649-9996 • Fax (985) 649-9940 247 Corporate Drive • Houma, LA 70360 • (985) 868-2630 • Fax (985) 872-3833

www.dhhmcpa.com

http://www.dhhmcpa.com

Plaquemines Parish School Board -2- December 17,2010

FEMA REQUESTS FOR REIMBURSEMENT: (2010-03)

It was noted that FEMA expenditures were not always requested for reimbursement timely. In some instances, requests for reimbursements were made several months afl:er the expenditures were incurred. It was also noted that reimbursement for expenditures totaling $756,923 during the period February - April 2010 has not been requested as of the current date.

We recommend that the school board request reimbursement of expenditures firom grantors timely. This would assist in cash management and allow for timely reconciliation of grants revenue and receivable balances.

BUDGET PREPARATION AND AMENDMENTS: (2010-04)

Per LRS 39:1311 A, the school board is required to amend its budget when expenditures increase above 5% of the amounts budgeted for general and special revenue fimds. The Food Service, Special Education and Title IV fiinds had final budget variances greater than 5%. Therefore, the school board was not in compliance with the Louisiana Budget Act for these fimds. In addition, it was noted that no budget was prepared for the CDBG fimd.

It is recommended that the budgets for each fimd be reviewed periodically and amended when required by state law. It is also recommended that budgets be prepared for all applicable fimds.

CAPITAL ASSETS: (2010-05)

Louisiana Revised Statute 24:515 (B) requires every public entity to maintain records of all capital assets purchased or otherwise acquired for which the entity is accountable, and states that the records shall include information as to the acquisition date, cost, disposition, purpose of disposition and recipients of disposed assets. The school board took a physical inventory of all capital assets as of June 30, 2010. It was noted that capital asset and construction in progress additions per the asset database were not properly reconciled to the general ledger. As a result, several assets were not included in the asset database and construction in progress schedule. It was also noted that three assets in the database could not be located during the asset observation procedures.

It is recommended that tiie school board reconcile asset additions and construction in progress to the general ledger timely and that inventory of assets be adjusted for assets disposed or missing.

EXPENDITURE APPROVALS: (2010-06)

During audit testing of the Title I, FEMA, and Headstart federal grant programs, samples of expenditures were tested for various attributes, including proper approvals. It was noted in several instances that expenditures for construction expenses and payroll reimbursements had proper supporting documentation, but did not contain evidence of approval.

It is recommended that all expenditures be properly approved prior to payment.

Management's response to 2010-01 is included in the Schedule of Findings and (^estioned Costs on Page 68 of the audit report. Management's responses to 2010-02 tiirough 2010-06 are included in the attached letter to the Legislative Audit Advisory Council.


THEFT OF FUNDS: (2010-07)

The former finance director for tiie School Board has been indicted by Plaquemines Parish Grand Jury in connection with tfie theft of fiinds from the School Board. The former finance director was suspended by tiie School Board and later resigned from her position. A forensic investigation was performed by an independent accoimting firm. The investigation concluded that tiie fiinds in question had been repaid to the School Board and that no other unusual transactions were noted.

It appears that the School Board has taken appropriate actions in this matter and no fiutiier response is necessary.

STATUS OF PRIOR YEAR FINDINGS:

Following is the status of items reported in the management comment letter for the year ended June 30, 2009:

ACCOUNTING AND REPORTING PROCESS: (2009-01)

It was noted that the school board experiences significant delays in its accounting and reporting process. Complete and accurate general ledgers, including supporting schedules for balances in the general ledger should be produced timely.

There is a lack of training and skills required for producing complete and accurate financial statements and for monitoring and reviewing tiie completeness and accuracy of the financial statements. As a result, there are significant delays in the production of timely and accurate financial statements needed to meet reporting requirements.

It was recommended that the school board perform a thorough evaluation of the accounting process and consider hiring an outside consulting firm to advise the school board to make the accounting process more efficient and productive. It was also recommended that the school board consider establishing an audit committee to improve financial oversight and to monitor intemal control and accounting policies and procedures.

This finding has been resolved with assistance from outside sources.

CASH RECONCILIATION AND MANAGEMENT: (2009-02)

Reconciliations to tiie general ledger for the general fimd operating account, general fimd payroll account and federal fimd account were not prepared during the year. Certain employees autiiorized to make cash transfers have access to payroll and other accounting databases. All bank accounts should be reconciled to tiie general ledger on a monthly basis, and tiiere should be segregation of cash management.

There is a lack of training and skills required for producing accurate and timely financial information. Cash transfer duties have been assigned to expedite tiie transfer process.


As a result of delays in the accounting process, the cash flow position of the school board is not determined at any given point in time, which impacts management's ability to monitor operations and manage cash flow. Misappropriation of cash is possible due to lack of segregation of duties.

It was recommended tiiat all bank accounts be reconciled monthly to tiie general ledger. It was also recommended that cash transfer duties be segregated from accounting database duties.


TITLE I - DUPLICATE REIMBURSEMENT: (2009-03)

Payroll expenditures in the amount of $138,780 were included twice on requests for reimbursements from tiie Department of Education. The school board received an overpayment from the Department of Education for this amount during tiie year ended June 30, 2009.

Items requested for reimbursement should be adequately docimiented to avoid duplication. The duplicate request for the payroll expenditures was an unintentional error.

It was recommended that the school board inform the Department of Education of the duplicate payment and take necessary action to repay the $138,780.


FEDERAL FUND BANK ACCOUNT- INTEREST INCOME: (2009-04)

It was noted that the school board's federal fimd bank account eamed interest in tiie amount of $5,162 during the year ended Jime 30, 2009 and it was not remitted to the appropriate federal agency. Interest eamed on advances by grantees is required to be submitted timely to the federal agency. The grantee may retain up to $100 per year for administrative expenses. The school board does not have procedures in place to monitor interest eamed and to remit it timely to the appropriate federal agency. As a result, the school board retained $5,162 of interest income that should be remitted to a federal agency.

It was recommended that the school board implement procedures to monitor interest eamed on federal fimds and remit the interest to the appropriate federal agency timely.

This finding has not been resolved smce the $5,062 of interest eamed has not yet been remitted to the federal agency.

This finding has not been repeated as a current year finding since there was no interest eamed on the account in the current fiscal year.

FILING OF AUDIT REPORT: (2009-05)

The school board did not submit tiie audit report for the year ended June 30, 2009 by the date authorized by the State of Louisiana Legislative Auditor. An extension of the original due date was obtained and tiie report was filed by the extension date.


It was recommended that tiie school board complete financial information in a timely manner to meet the required report deadline.


FEDERAL FUND BANK ACCOUNT- DEFICIT CASH BALANCES: (2009-06)

It was noted that nineteen federal grants are combined in one bank account. Eleven of these nineteen grants had deficit balances in the general ledger. The federal fimd bank account maintains a positive balance due to advances from the general operating fimd. The co-mingling of nineteen grants in one bank accoimt creates the potential for improper payment of grant expenditures using another grant's revenue.

It was recommended that the school board review tiie federal fiind bank account and consider opening separate accounts for the larger federal grants such as Titie I, Head Start and Restart.

This finding has been repeated in the current year.

JOURNAL ENTRIES: (2009-07)

Instances were noted where joumal entries were not reviewed and approved prior to posting in tiie general ledger. In addition, supporting documentation for joumal entries is not always maintained consistently.

It was recommended that all joumal entries be supported with appropriate documentation and be approved by management prior to posting.


INTER-FUND RECEIVABLES AND PAYABLES: (2009-08)

Inter-fund receivables and payables, including electronic fund transfers payable, were not reconciled throughout the year. The school board attempted to reconcile tiiese accounts during the audit. However, the accounts did not balance and were subsequentiy corrected with audit adjustments.

The majority of inter-fund transactions are related to payroll expenses and federal fimd revenues. Payroll expenses were not tracked by fiind to determine how much is owed each pay period. Joumal entries were posted to the general fund for the transactions without reconciling to supporting documentation. In addition, there is no consistency in the timing of reimbursements between the general operating and special revenue fimds.

It was recommended that tiie inter-fimd receivables and payables be reconciled to tiie general ledger montiily and be supported with proper documentation. It is also recommended that policies be implemented to ensure timely reimbursements are made.



PAYROLL DEDUCTIONS PAYABLE: (2009-09)

Payroll deduction liability accounts were not reconciled to tiie general ledger. There are approximately 75 payroll deduction liability accoimts within the general ledger. The majority of the discrepancies were corrected during the audit; however some un-reconciled amounts remained as of June 30,2009.

It was recommended that payroll deduction liability accounts be properly reconciled to tiie general ledger on a timely basis.


CAPITAL ASSETS: (2009-10)

Louisiana Revised Statute 24:515 (B) requires every public entity to maintain records of all capital assets purchased or otherwise acquired for which the entity is accountable, and states tiiat tiie records shall include information as to the acquisition date, cost, disposition, purpose of disposition and recipients of disposed assets. The school board took a physical inventory of all capital assets as of June 30, 2009. It was noted that capital asset additions per the asset database were not reconciled to the general ledger. As a result, several assets were not included in the asset database. It was also noted that four assets in the database could not be located during the asset observation procedures.

It was recommended that the school board reconcile asset additions and constmction in progress to the general ledger timely and that inventory of assets be adjusted for assets disposed or missing.


PERFORMANCE BASED ENERGY EFFICIENCY CONTRACT: (2009-11)

The Louisiana Legislative Auditor has recentiy contacted govemmental entities and audit firms concemmg the legality of performance-based energy efficiency contracts. Currentiy, the school board has such a contract with Johnson Controls.

LRS 33:4547.1-3 requires tiiat

a) annual energy cost savings be guaranteed by the contractor

b) the calculation of aimual energy cost savings shall include fiiture capital expenditures avoided and maintenance savings (operational cost savings)

c) annual energy cost savings be measurable and verifiable

It appears that the annual "operational cost savings'* component included in tiie contract was stipulated and not actually guaranteed by tiie contractor and tiie annual energy cost savings shortfall for this contract was calculated using "energy savings" only. Also, the contract does not contain provisions for the annual monitoring and measurement of stipulated costs.


The school board has voted to chancel the contract with Johnson Controls in order to be in compliance with state laws; however as of the date of the audit report, the contract has not been voided.

It was recommended that the school board continue its efforts to void the energy efficiency contract to be in compliance with state law.


BUDGET ACT: (2009-12)

During the audit, the school board's compUance with the Louisiana Budget Act was tested. Per LRS 39:1311 A, the school board is required to amend its budget when expenditures increase above 5% or revenues fall below 5% of the amounts budgeted for the general and special revenue fimds. The School Board was not in compliance with the Louisiana Budget Act for the Head Start Constmction Fund, Titie FV - Safe and Dmg Free Schools Fund, Technical Preparation Fund, Special Education Fund, Food Services Fund and General Fund.

It was recommended that the budget be reviewed periodically and amended when required by state law.


This report is intended for the information and use of the Plaquemines Parish School Board, its management, the State of Louisiana and the Legislative Auditor for the State of Louisiana and is not intended to be and should not be used by anyone other than these specified parties.

Sincerely,

DUPLANTIER, HRAPMANN, HOGAN & MAHER, LLP

William G. t Aim, CPA Partner

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P.O. Box 69 557 F. Edward Hebert Kvd. BeUe Chasse, U 70037 December 17,2010 Phone (504) 392-4970 Fax (504) 392-4975 DENIS ROUSSELLE

Superintendoit

MEMBERS:

Legislative Audit Advisory Council Slate of Louisiana P.O. Box 94397 Baton Rouge, Louisiana 70804-9397

MICHAEL WADE JILES, SR.

District 1

NANCY LaHAYE

Kstrict2

ANTHONY ST. PHIUP

Distrkt}

JOYCE C LAMKIN

District 4

SHARON BRANAN

DtsbictS

CARLTON M LAFRANCE, SR. Distikt*

PAULW. LEMAIRE, JR.

DistrictZ

HELEN E BARROIS

D^rictS

WILLIAM F. MERTZ

District?

The following is Management's Response to the findings listed in the Management Letter for the year ended June 30,2010:

2010-02 Federal Fund Bank Account-Deficit Cash Balances

We will consider opening additional bank accounts for Federal grant fimds. We will consider whether additional accounts will create additional accounting requirements, or whether closer monitoring of the fimds will be sufficient to ensure that no grants show negative balances. We will undertake this study as part of our overall evaluation of our accounting, monitoring and reporting processes.

2010-03 F£MA Requests for Reimbursement

We will begin to more closely monitor all aspects of our FEMA expenditure and reimbursement request cycle in order to ensure that all expenditures subject to reimbursement are more timely reported to the grantor agency and that the reimbursement requests are timely made.

AN EQUAL OPPORTUNITY AGENCY

Legislative Audit Advisory Council Page 2

2010-04 Budget Preparation and Amendments

We will begin to implement procedures to regularly monitor actual results and compare them to the budgets adopted by tiie School Board. We will take all necessary actions to amend the budgets, as needed, in order to ensure tiiat we comply with the Louisiana Budget Act.

2010-05 Capital Assets

We will begin to more closely monitor our accounting of capital assets to ensure that all capital asset additions are properly accounted for in the capital asset database; that all capital asset additions and disposals are properly reconciled to the general ledger; that all capital asset disposals are properly accounted for m the capital asset database; that regular inventories are made to ensure tiiat capital assets are properly in service; and that all constmction in progress is properly accounted for.

2010-06 Expenditure Approvals

We will begin to review the expenditure approval process to ensure that all expenditures are approved in accordance with School Board policy in an orderly and efficient manner.

2010-07 Theft of Funds

We will continue to review our financial policies and procedures, and update them as necessary, in order to discourage, discover and address any potential or actual mstances of fitiud within the school system.

Sincerely,

Ronald E. White, Jr., CPA Director of Finance

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