cameron parish assessor - louisiana legislative .cameron parish assessor cameron. louisiana ......

Download Cameron Parish Assessor - Louisiana Legislative .CAMERON PARISH ASSESSOR CAMERON. LOUISIANA ... General

If you can't read please download the document

Post on 28-Aug-2018

213 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

  • CAMERON PARISH ASSESSORCAMERON. LOUISIANA

    FINANCIAL STATEMENTS

    YEAR ENDED DECEMBER 31. 2005

    Under previsions of state law. this report is a publicde&Jrrignt. A eopy of the report has been submitted tothe entity and other appropriate public officials. Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and, where

    , at the office of the parish clerk of court.

  • TABLE OF CONTENTS

    PAGEIndependent Auditors' Report 1-2

    REQUIRED SUPPLEMENTARY INFORMATION - PART I 3

    Management's Discussion and Analysis 4-7

    BASIC FINANCIAL STATEMENTS 8

    Government-Wide Financial Statements (GWFS)

    Statement of Net Assets 9

    Statement of Activities 10

    Fund Financial Statements (FFS)

    Governmental Funds

    Balance Sheet 11

    Reconciliation of the Governmental FundsBalance Sheet to The StatementOf Net Assets 12

    Statement of Revenues, Expenditures, andChanges In Fund Balances 13

    Reconciliation of the Governmental FundsStatement of Revenues, Expenditures,And Changes in Fund Balances to theStatement of Activities 14

    Notes to the Financial Statements 15-24

    REQUIRED SUPPLEMENTAL INFORMATION - PART II 25

    Budget Comparison Schedule 26

  • TABLE OF CONTENTS(Continued)

    PAGE

    Independent Auditors' Report on ComplianceAnd Internal Control over Financial Reporting,Based on an Audit of Financial StatementsPerformed in Accordance with Government AuditingStandards 27 - 28

    Schedule of Findings and Questioned Costs 29

    Summary Schedule of Prior Audit Findings 30

    u

  • DYER 8e VICKNAIR(CERTIFIED PUBLIC ACCOUNTANTS)

    GLYNN R. DYER, CPA (APC), (RETIRED)ERIC J. VICKNAIR, CPA (APC) FAX (225) 292- 1O41

    INDEPENDENT AUDITORS' REPORT

    Robert E. ConnerCameron Parish AssessorCameron, Louisiana

    We have audited the basic financial statements of the Cameron Parish Assessor, acomponent unit of the Cameron Parish Police Jury, as of December 31, 2005, and for theyear then ended, as listed in the table of contents. These financial statements are theresponsibility of the Cameron Parish Assessor's management. Our responsibility is toexpress an opinion on these financial statements based on our audit.

    We conducted our audit in accordance with auditing standards generally accepted in theUnited States of America and the standards applicable to financial audits contained in theGovernment Auditing Standards, issued by the Comptroller General of the United Statesof America. Those standards require that we plan and perform the audit to obtainreasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting theamounts and disclosures in the financial statements. An audit also includes assessing theaccounting principles used and significant estimates made my management, as well asevaluating the overall financial statement presentation. We believe that our audit providesa reasonable basis for our opinion.

    In our opinion, the basic financial statements referred to above present fairly, in allmaterial respects, the financial position of the Cameron Parish Assessor as of December31, 2005, and the respective changes in its financial position for the year then ended inconformity with accounting principles generally accepted in the United States ofAmerica.

    In accordance with the Government Auditing Standards we have also issued our reportdated July 26, 2006, on our consideration of the Cameron Parish Assessor's internalcontrol over financial reporting and our test of its compliance with certain provisions oflaws, regulation, contacts, and grants. That report is an integral part of an audit performedin accordance with Governmental Auditing Standards and should be read in conjunctionwith this report in considering the results of our audit.

    (SEND ALL CORRESPONDENCE TO THE BATON ROUGE ADDRESS)

    2933 BRAKLEY DRIVE - SUITE B BATON ROUGE. LOUISIANA 7Oat6 (225) 292-1O4O

    564 FERDINAND STREET ST. FRANCIBVIL.LE, LOUISIANA 7O7TS (225) 633-4204

  • DYER & VICKNAIR(CERTIFIED PUBLIC ACCOUNTANT*)

    Management's Discussion and Analysis, on pages 4 through 7 and budgetary comparisoninformation on page 26 are not a required part of the basic financial statements, but aresupplementary information required by accounting principles generally accepted in theUnited States of America. We have applied certain limited procedures, which consistedprincipally of inquiries of management regarding the methods of measurement aridpresentation of the required supplementary information. However, we did not audit theinformation and express no opinion on it.

    Baton Rouge, Louisiana fiJuly 26,2006 *

  • REQUIRED SUPPLEMENTARY INFORMATIONPARTI

  • CAMERON PARISH ASSESSORCAMERON, LOUISIANA

    MANAGEMENT'S DISCUSSION AND ANALYSISDECEMBER 31,2005

    As management of the Cameron Parish Assessor (hereafter, Assessor), I offer readers ofthe Cameron Parish Assessor's financial statements this narrative overview and analysisof the financial activities of the Assessor for the fiscal year ended December 31, 2005.Please read it in conjunction with the basic financial statements beginning on page 9.

    Financial Highlights

    The assets of the Assessor exceeded its liabilities at the close of the fiscal year by$545,791 (net assets), which represents a decrease from the last fiscal year of $107,399.Of this amount, $536,346 (unrestricted net assets) may be used to meet the assessor'songoing obligations to citizens and creditors.

    The Assessor's revenues increased $281 and expenses increased $41,911 (9%) from theprior year.

    Overview of the Financial Statements

    This discussion and analysis is intended to serve as an introduction to the Assessor'sbasic financial statements.

    These basic financial statements are composed of the components: 1) government-widefinancial statements; 2) fund financial statement; and 3) notes to the financial statements.

    Government-wide financial statements. The government-wide, financial statements aredesigned to provide readers with a broad overview of the Assessor's finances, in amanner similar to a private-sector business.

    The statement of net assets presents information on all of the Assessor's assets andliabilities, 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 thefinancial position of the Assessor is improving or deteriorating.

    The statement of activities presents information showing how the government's netassets changed during the most recent fiscal year. All changes in net assets arereported as soon as the underlying event giving rise to the change occurs, regardlessof timing of related cash flows. Thus, revenues and expenses are reported in thisstatement for some items that will only result in cash flows in future fiscal period (forexample, earned, but unused, sick leave).

    Fund financial statements. A fund is a grouping of related accounts that is used tomaintain control over resources that have been segregated for specific activities orobjective. The Assessor, like other state and local government, uses fund accounting toensure and demonstrate compliance with finance-related legal requirements. TheAssessor uses only governmental funds.

  • CAMERON PARISH ASSESSORCAMERON. LOUISIANA

    MANAGEMENT'S DISCUSSION AND ANALYSISDECEMBER 31, 2005

    (Continued)

    Governmental funds. Governmental funds are used to account for essentially the samefunctions reported as governmental activities in the government-wide financialstatements. However, unlike the government-wide financial statements, governmentalfund financial statements focus on near-term inflows and outflows of spendableresources, as well as balances of spendable resources available at the end of the fiscalyear. Such information may be useful in evaluating a government's useful in evaluating agovernment's near-term financing requirements.

    Because the focus of governmental funds is narrower than that of the government-widefinancial statements, it is useful to compare the information presented for governmentalfunds with similar information presented for governmental activities in the government-wide financial statements.

    By doing so, readers may better understand the long-term impact of the government'snear-term financing decisions. Both the governmental fund balance sheet andgovernmental fund statement of revenues, expenditures, and changes in fund balancesprovide a reconciliation to facilitate this comparison between governmental funds andgovernmental activities.

    The Assessor adopts an annual appropriated budget for the general fund. A budgetarycomparison statement is provided for the general fund to demonstrate compliance withthis budget.

    Notes to the Financial Statements

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

    Other information

    In addition to the basic financial statements and accompanying notes, this report alsopresents certain required supplementary information.

    Financial Analysis of the Assessor's Funds

    As noted earlier, net assets may serve over time as a useful indicator of a government'sfinancial position. In the case of the Assessor, assets exceeded liabilities by $545,791 atthe close of the most recent fiscal year.

  • CAMERON PARISH ASSESSORCAMERON. LOUISIANA

    MANAGEMENT'S DISCUSSION AND ANALYSISDECEMBER 31, 2005

    (Continued)

    Statement of Net AssetsDecember 31,

    2005 2004

    ASSETSCurrent and other assests $ 537,706 $ 657,742Capital assets, net

Recommended

View more >