RECEIVED LEGISLATIVE AUDITOR 2008 DEC 16 AH 10-52 · 2020-06-24 · 901,454 65,068,123 4,782,275...
Transcript of RECEIVED LEGISLATIVE AUDITOR 2008 DEC 16 AH 10-52 · 2020-06-24 · 901,454 65,068,123 4,782,275...
IM RECEIVEDLEGISLATIVE AUDITOR
2008 DEC 16 AH 10-52
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Financial Report
Year Ended June 30, 2008
Under provisions of state law, this report is a publicdocument, A copy of the report has been submitted tothe entity and other appropriate public officials. Thereport Is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the office of tye par/sh clerk of court.
Release Date
TABLE OF CONTENTS
Page
Independent Auditors' Report 1 -2
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS (GWFS)Statement of net assets 5Statement of activities 6
FUND FINANCIAL STATEMENTS (FFS)Balance sheet - governmental funds 8Reconciliation of the governmental funds balance sheet
to the statement of net assets 9Statement of revenues, expenditures, and changes in fund balances-
governmental funds 10Reconciliation of the statement of revenues, expenditures, and changes in
fund balances of governmental funds to the statement of activities 11Combined statement of net assets-internal service funds 12Combined statement of revenues, expenses, and changes in fund net assets -
internal service funds 13Combined statement of cash flows-internal service funds 14-15Statement of fiduciary net assets 16Statement of changes in fiduciary net assets 17
Notes to basic financial statements 18-44
REQUIRED SUPPLEMENTARY INFORMATIONBudgetary comparison schedule - General Fund 46Budgetary comparison schedule - State and Local Special Revenue Funds 47
(continued)
TABLE OF CONTENTS (continued)
Page
OTHER SUPPLEMENTARY INFORMATION
INTERNAL CONTROL, COMPLIANCE, AND OTHER INFORMATION
Report on Internal Control over Financial Reportingand on Compliance and Other Matters Based onan Audit of Financial Statements Performed inAccordance with Government Auditing Standards 50-51
Report on Compliance with Requirements Applicableto each Major Program and on Internal Control overCompliance in Accordance with OMB Circular A-133 52-54
Notes to schedule of expenditures of federal awards 55Schedule of expenditures of federal awards 56-57Schedule of findings, questioned costs, and management's corrective action plan 58Summary schedule of prior audit findings 59
SCHEDULES REQUIRED BY STATE LAW(R.S. 24:514 PERFORMANCE AND STATISTICAL DATA)
Agreed-upon procedures report on school board performance measures 61-64
SCHEDULES RELATED TO AGREED-UPON PROCEDURES
Schedule 1 65Schedule 2 66Schedule 3 67Schedule 4 68Schedule 5 69Schedule 6 70Schedule 7 71Schedule 8 72Schedule 9 73-75
C. Burton Holder. CPA*Russell F. Champagne, CPA"Victor R. Staven, CPA"P. Troy Courvihe. CPA'Gerald A. Thtbodeaux, Jr.,CPA*Robert S. Carter. CPA*Arthur R. Mixon, CPA'
KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC
Tynes E. Mbson, Jr., CPAAllen J. LaBry, CPAAlbert R. Leger, CPA,PFS,CSA*Penny Angefte Scruggins, CPAChristine L Cousin, CPAMary T. Thibodeaux, CPAMarshall W. Guidry, CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Metz, CPAKelly M. Doucat. CPACheryl L Bartley, CPA, CVAMandy B Self, CPAPaul L Delcambre, Jr. CPAWanda F. Arcement, CPAKristin B. Dauzat, CPARichard R. Anderson ST., CPACarolyn C. Anderson, CPA
CERTIFIED PUBLIC ACCOUNTTAm'S
P.O. Box 250Breaux Bridge, LA 70517
Phone (337) 332-4020Fax (337) 332-2867
OFFICES
183 South BeadJeRd.Lafayette. LA 70506Phone (337) 232-4141Fax (337) 232-8660
450 East Main StreetNew Iberia. LA 70560
Phone (337) 367-9204Fax [337) 367-9208
113 East Bridge SL 200 South Main StreetBreaux Bridge, LA 70517 Abbeville, LA 70510Phone (337) 332-4020 Phone (337) 893-7944Fax (337) 332-2867 Fax (337) 893-7946
INDEPENDENT AUDITORS' REPORTRetired:Conrad 0. Chapman, CPA" 2006Harry J. Closto. CPA 2007
1234 David Dr. Ste 203Morgan City, LA 70380Phone (985) 384-2020Fax (985) 384-3020
408 West Cotton StreetVille Platte, LA 70586Phone (337) 363-2792Fax (337) 363-3049
332 West Sixth AvenueOberlin, LA 70655Phone (337) 639-4737Fax (337) 639-4568
1013 Main StreetFranklin. LA 70538
Phone (337) 628-0272Fax (337) 828-0290
133 East Waddil StMarksvilteLA71351
Phone (318) 253-9252Fax (318) 253-8681
621 Main StreetPineville, LA 71360
Phone (318) 442-4421Fax (318) 442-9833
WEBSITE;WWW.KCSRCPAS. COM
* A Profession!! AocowiUng CoipafBtton
Mr. Richard Lavergne, Superintendentand Members of the St. Martin ParishSchool Board
St. Martinville, Louisiana
We have audited the accompanying financial statements of the governmental activities, each majorfund, and the aggregate remaining fund information of the St. Martin Parish School Board (the SchoolBoard), as of and for the year ended June 30, 2008, which collectively comprise the School Board's basicfinancial statements as listed in the table of contents. These financial statements are the responsibility of theSt. Martin Parish School Board's management. Our responsibility is to express opinions on these financialstatements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United Statesof America and the standards applicable to financial audits contained in Government Auditing Standards.issued by the Comptroller General of the United States. Those standards require that we plan and performthe audit to obtain reasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principles used and the significantestimates made by management, as well as evaluating the overall financial statement presentation. Webelieve that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, therespective financial position of the governmental activities, each major fund, and the aggregate remainingfund information of the St. Martin Parish School Board, as of June 30, 2008, and the respective changes infinancial position, and cash flows, where applicable, thereof for the year then ended in conformity withaccounting principles generally accepted in the United States of America.
Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLIC ACCOUNTANTS
Member of:SOCIETY OF LOUISIANA
CERTIFIED PUBLIC ACCOUNTANTS
In accordance with Government Auditing Standards, we have also issued our report dated November14, 2008, on our consideration of the St. Martin Parish School Board's internal control over financialreporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grantagreements and other matters. The purpose of that report is to describe the scope of our testing of internalcontrol over financial reporting and compliance and the results of that testing, and not to provide an opinionon the internal control over financial reporting or on compliance. That report is an integral part of an auditperformed in accordance with Government Auditing Standards and important for assessing the results of ouraudit.
The budgetary information on pages 46 through 47 is not a required part of the basic financialstatements but is supplementary information required by accounting principles generally accepted in theUnited States of America. We have applied certain limited procedures, which consisted principally ofinquiries of management regarding the methods of measurement and presentation of the requiredsupplementary information. However, we did not audit the information and express no opinion on it.
The School Board has not presented management's discussion and analysis that the GovernmentalAccounting Standards Board has determined necessary to supplement, although not required to be part of, thebasic financial statements.
Our audit was conducted for the purpose of forming opinions on the financial statements thatcollectively comprise the St. Martin Parish School Board's basic financial statements. The othersupplementary information on pages 48 through 75 including the schedule of expenditures of federal awardsas required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments,and Non-Profit Organizations and the schedules required by state law are presented for purposes of additionalanalysis and are not a required part of the basic financial statements. Such information has been subjected tothe auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairlystated in all material respects in relation to the basic financial statements taken as a whole.
Kolder, Champagne, Slaven & Company, LLCCertified Public Accountants
Breaux Bridge, LouisianaNovember 14, 2008
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDEFINANCIAL STATEMENTS (GWFS)
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Statement of Net AssetsJune 30, 2008
ASSETS
Cash and interest-bearing depositsInvestmentsReceivables, netDue from other governmental agenciesInventoriesPrepaid itemsRestricted assets:
Cash and interest-bearing depositsCapital assets, net
TOTAL ASSETS
LIABILITIES
Salaries and payroll tax liabilitiesInsurance claims payableOther payablesRetainage payableDeferred revenueInterest payableLong-term liabilities:
Due within one yearDue in more than one year
TOTAL LIABILITIES
NET ASSETS
Invested in capital assets, net of related debtRestricted for:
Salaries and benefitsInventoryCapital expenditures/incomplete contractsDebt service
Unrestricted
TOTAL NET ASSETS
GovernmentalActivities
6,942,52933,079,498
1,807,0782,738,868
305,302529,355
234,31243,053,981
88,690,923
5,251,5382,652,111
579,69527,494
269,461351,486
3,795,59526,479,756
39,407,136
16,885,996
8,937,554305,302491,778
1,795,99120,867,166
$ 49,283,787
The accompanying notes are an integral part of the basic financial statements.
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Statement of ActivitiesFor the Year Ended June 30, 2008
Program RevenuesNet (Expense)Revenue and
Functions/Programs
Governmental activities:Instruction:
Regular education programsSpecial education programsVocational education programsOther instructional programsSpecial programsAdult and continuing education programs
Support services:Pupil support servicesInstructional staff supportGeneral administrationSchool administrationBusiness servicesOperation and maintenance of plant servicesStudent transportation servicesCentral servicesFood servicesCommunity service programs
Interest on long-term debt
Tota! governmental activities
Charges forExpenses Services
$ 26,241,424 $8,022,6251,504,7801,497,5565,894,992
134,462
4,453,9383,616,4061,279,3323,682,6881,003,8105,436,5605,331,752
76553834,730,004 390,293
269,7261,150,589
$ 75,016,027 $ 390,293
Taxes:
Operating CapitalGrants and Grants and
Contributions Contributions
$ 570,982 $673,198145,892748,450
5,653,50499,863
2,357,383870,951254,394
2,2753,211
21,791731,737
6,9601,957,996
241,299-
$14,339,886 $
Property taxes, levied for general purposesProperty taxes, levied for debt serviceSales and use taxesState revenue sharing
Changes in Net AssetsGovernmental
Activities
$ (25,670,442)(7,349,427)(1,358,888)
(749,106)(241,488)
(34,599)
(2,096,555)(2,745,455)(1,024,938)(3,680,413)(1,000,599)(5,414,769)(4,600,015)
(758,423)(2,381,715)
(28,427)(1,150,589)
$ (60,285,848)
2,402,0703,515,658
12,101,536283,743
Grants and contributions not restricted to specific programs:State source - Minimum Foundation ProgramState source - PIPS
Interest and investment earningsRents, leases and royaltiesMiscellaneous
Total general revenues
Change in net assets
Net assets - July 1,2007
Net assets - June 30, 2008
43,899,756136,271
1,190,368637,267901,454
65,068,123
4,782,275
44,501,512
$ 49,283,787
The accompanying notes are an integral part of the basic financial statements.
FUND FINANCIAL STATEMENTS (FFS)
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Balance Sheet - Governmental FundsJune 30, 2008
ASSETSCash and interest-bearing depositsInvestmentsReceivables -
Accrued interestTaxes receivablesDue from other fundsDue from other governmental agenciesOther receivables
Inventories, at costOther current assets
Total assets
LIABILITIES AND FUND BALANCESLiabilities:
Accounts payableRetainage payableSalaries and payroll taxes payableClaims payableDue to other fundsOther payablesDeferred revenue
Total liabilities
Fund balances:Reserved for -
Other purposesCapital expendituresDebt retirement
Total fund balances reserved
Unreserved -Designated:
General fundTransportation fundCapita] projects fund
Undesignated, reported in major funds
Total fund balances unreserved
Total fund balances
Total liabilities and fund balances
Major Funds
General Fund
$ 3,050,70316,877,263
108,388-
2,668,52563,024
282,848131,403529,297
$ 23,711,451
$ 575,048
-5,251,538
228,691779,915
2,59492,034
6,929,820
131,403--
131,403
187,458--
16,462,770
16,650,228
16,781,631
State andLocal Special
RevenueFunds
$ 2,065,3116,037,635
_
1,107,029-
1,062,6922,604
173,899-
$10,449,170
$---
1,028,925-
33,768
1,062,693
9,111,453--
9,111,453
233,806-
41,218
275,024
9,386,477
All Other Non-Major
GovernmentalFunds
$ 1,493,3444,891,759
.-
234,5501,613,152
16,872-
60
$ 8,249,737
$27,494
--
1,847,762-
143,659
2,018,915
491,7781,795,991
2,287,769
-3,943,053
-
3,943,053
6,230,822
TotalGovernmental
Funds
$ 6,609,35827,806,657
108,3881,107,0292,903,0752,738,868
302,324305,302529,357
$42,410,358
$ 575,04827,494
5,251,538228,691
3,656,6022,594
269,461
30,011,428
9,242,856491,778
1,795,991
11,530,625
187,458233,806
3,943,05316,503,988
20,868,305
32,398,930
$ 23,711,451 $10,449,170 $ 8,249,737 $42,410,358
The accompanying notes are an integral part of the basic financial statements.
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Reconciliation of the Governmental Funds Balance Sheetto the Statement of Net Assets
June 30, 2008
Total fund balances for governmental funds at June 30, 2008
Cost of capital assets at June 30, 2008Less: Accumulated depreciation as of June 30, 2008:
BuildingsMovable property
$ 79,735,748
(31,268,297)(5,413,470)
$ 32,398,930
43,053,981
Elimination of interfund assets and liabilities:Due from other fundsDue to other funds
$ 3,656,602(3,656,602)
Long-term liabilities at June 30, 2008:Bonds payable $ (26,578,182)Difference between refunded debt and its reacquisition price
is accounted for as a deferred charge 540,676Accumulated amortization of deferred charge (130,481)Compensated absences payable (4,107,366)Accrued interest payable (351,486) (30,626,839)
Assets and liabilities of Self- Insurance Internal Service Fund 4,457,715
Net assets at June 3 0,2008 $ 49,283,787
The accompanying notes are an integral part of the basic financial statements.
ST. MARTIN PARJSH SCHOOL BOARDSt. Maitmvillc, Louisiana
Governmental FundsStatement of Revenues, Expenditures and Changes in Fund Balances
For the Year Ended June 30, 2008
Major Funds^
REVENUES
Local sources -
Ad valorem taxes
Sales taxes
TuitionTransportation
Interest earnings
Rentals, leases, and royaltiesincome from meals
Contributions and donations
Medicaid
KidMed
E-rate reimbursementsOther miscellaneous revenues
State sources -
Unrestricted grants-in-aid
Restricted grants-in-aid
Revenue in lieu of taxesOther state revenues
Federal sources -Restricted grants-in-aid through the state
Value of USDA Commodities
Total revenues
EXPENDrrURESCurrent
Instruction -
Regular education programs
Special education programs
Vocational education programsOther instructional programs
Special programs
Adult and continuing education programs
Support services -
Pupil support servicesInstructional staff services
General administrationSchool administration
Business servicesOperation and maintenance of plantStudent transportation servicesCentral services
FoodserviceCommunity service programs
• Construction Services
Debt service
Total expenditures
Excess (deficiency) of revenues over expenditures
Other financing sources (uses):
Transf en inTransfers out
Total other financing sources (uses)
Excess of revenues and other sources
over expenditures and other uses
FUND BALANCES, BEGINNING
FUND BALANCES, ENDING
The accompanying notes are an integral part of the basic financial statements.
General Fund
J 2,402,070
-38,703
67,4221,065,169
637,267
-9,900
257,659120,650
198,108
161,864
43,838,592
270,342283,743
17,849
-.
49,369,338
25,365,568
7,201,529
1,323,470711,004
404,533
32,125
2,132,813
2,680,417
981,588
3,622,803982,762
6,124,9354,551,995
741,360-
32,645--
56.889.547
(7,520,209)
1 1,212,527
(3,104,079)
8.108.448
588,239
16,193,392
S 16,781,631
State and Local
Special RevenueFunds
$12,101,536
--
81,205-
390,293
----
29,299
61,164
3,858,824-
-
2,707,343224,948
19,454,612
426,13240,456
-614,782
1,592.495
26,402
868,869
266,084
251,069
2,080-
15,112729,638
-4,680,039
---
9.513.158
9,941,454
1,122,324
(10.791,627)
^9.669.303^
272,151
9,114,326
S 9,386,477
All Other Non-Major
Governmental
Funds
S 3,515,658
---
43,994
------
-
.
--
-
7,414,700-
10,974,352
10,779
632,742145,892
133,6673,775,704
73,461
1,354,877
604,868
23,461
1953,2116,6782,099
6,961-
24U99
713,9393,026,027
10.755.860
218,492
1,979,797
(418,942)
1.560.855
1,779,347
4,451,475
S 6,230,822
TotalGovernmental
Funds
S 5,917,728
12,101,536
38,70367,422
1,190,368
637.267
390,2939,900
257,659120,650
198,108
191,163
43,899,756
4,129,166
283,743
17,849
10,122,043224.948
79.798.302
25,802,4797,874,7271,469,362
1,459,453
5,772,732
131,988
4,356,559
3,551,3691,256,118
3,625,078
985,9736,146,7255,283,732
748,3214,680,039
273,944
713,9393,026,027
77.158.565
2,639,737
14,314,648(14.314,648)
.
2,639,737
29.759,193
S 32.39S,930
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Reconciliation of the Statement of Revenues, Expenditures, andChanges in Fund Balances of Governmental Funds
to the Statement of ActivitiesFor the Year Ended June 30, 2008
Total net change in fund balances for the year ended June 30,2008 per Statementof Revenues, Expenditures and Changes in Fund Balances $ 2,639,737
Add: Facilities acquisition and construction costs which are considered expenditureson Statement 1,527,660
Less: Depreciation expense for year ended June 30, 2008 (1,799,301)
Add: Bond principal retirement considered as an expenditure on Statement 1,894,091
Less: Excess of compensated absences earned over compensated absences used (480,606)
Add: Difference between interest on long-term debt on modified accrual basis versusinterest on long-term debt on accrual basis 23,539
Add: Net income of the Self- Insurance Internal Service Funds 1,024,850
Less: Amortization of deferred charge (42,191)
Less: Loss on disposition of assets (5,504)
Total change in net assets for the year ended June 30,2008 perStatement of Activities $ 4,782,275
The accompanying notes are an integral part of the basic financial statements.
11
ST. MARTIN PARISH SCHOOL BOARDSt.Martinville, Louisiana
Proprietary Funds - Internal Service Funds
Combined Statement of Net AssetsJune 30, 2008
ASSETSCurrent Assets:
Cash and interest-bearing deposits $ 567,483Investment 5,272,841Other current assets 289,337Due from other funds 753,527
Total assets $ 6,883,188
LIABILITIESCurrent Liabilities:
Claims payable $ 2,423,420Other current liabilities 2,053
Total liabilities 2,425,473
NET ASSETSNet assets:
Unrestricted 4,457,715
Total liabilities and net assets $ 6,883,188
The accompanying notes are an integral part of the basic financial statements.
12
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Proprietary Funds - Internal Service Funds
Combined Statement of Revenues, Expenses and Changes in Fund Net AssetsFor the Year Ended June 30, 2008
Operating Revenues;Charges for services -
Employer contributionsEmployee contributions
Insurance recoveriesOther recoveries
Total operating revenues
Operating Expenses:Salaries and related benefitsContractual servicesPremium paymentsClaim payments
Total operating expenses
Operating income
Nonoperating Revenue:Interest earned
$ 7,578,3053,440,766
725,53513,097
11,757,703
75,413424,754623,480
9,805,437
10,929,084
828,619
196,231
Net income
Net assets, beginning
Net assets, ending
1,024,850
3,432,865
$ 4,457,715
The accompanying notes are an integral part of the basic financial statements.
13
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Proprietary Funds - Internal Service Funds
Combined Statement of Cash FlowsFor the Year ended June 30, 2008
Cash flows from operating activities:Receipts from other funds and employees
Payments to providers and employees
Net cash provided by operating activities
Cash flows from investing activities:Interest on investments
12,030,623(10,554,161)
1,476,462
196,231
Cash flows from noncapital financing activities:
Transfer to other fund
Net increase in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period
Reconciliation of operating loss to net cash used byoperating activities:
Operating incomeAdjustments to reconcile operating loss to net cashused by operating activities:Changes in current assets and liabilities:
Decrease in receivablesIncrease in payables
Net cash provided by operating activities
(6,706)
1,665,987
4,174,337
$ 5,840,324
$ 828,619
272,920374,923
$ 1,476,462
(continued)
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ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Proprietary Funds - Internal Service Funds
Combined Statement of Cash Flows (Continued)For the Year ended June 30, 2008
Reconciliation of cash and cash equivalents per statementof cash flows to the balance sheet:
Cash and cash equivalents, beginning of period -Cash and interest-bearing deposits $ 1,142,179
Investments, at cost 3,032,158
Total cash and cash equivalents 4,174,337
Cash and cash equivalents, end of period -Cash and interest-bearing deposits 567,483Investments, at cost 5,272,841
Total cash and cash equivalents 5,840,324
Net increase $ 1,665,987
The accompanying notes are an integral part of the-basic financial statements.
15
ST. MARTIN PARISH SCHOOL BOARDSt.Martinville, Louisiana
Statement of Fiduciary Net AssetsJune 30, 2008
AgencyFunds
ASSETSCash and interest-bearing depositsInvestmentsReceivables -
Accrued interestOther current assets
Total assets
LIABILITIESDue to other fundsDue to other governmental unitsSchool activity funds payable
Deferred revenues
Total liabilities
$ 343,128726,586
1,295
1,071,009
26,38833,165
979,990
31,466
1,071,009
PrivatePurpose
Trust Fund
$ 2,75321,158
205
24,116
Total
I 345,881747,744
2051,295
1,095,125
26,38833,165
979,990
31,466
1,071,009
NET ASSETSReserved for specific purposes $ 24,116 $ 24,116
The accompanying notes are an integral part of the basic financial statements.
16
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Statement of Changes in Fiduciary Net AssetsPrivate Purpose Trust Fund
For the Year Ended June 30, 2008
ADDITIONSInterest earningsGifts and contributions
Total additions
DEDUCTIONSBenefits
Change in net assets
Net assets - beginning
Net assets - ending
4982,100
2,598
3,308
(710)
24,826
$ 24,116
The accompanying notes are an integral part of the basic financial statements.
17
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements
Introduction
The St. Martin Parish School Board (School Board) was created by Louisiana Revised Statute (LSA-R.S.) 17:51 for the purpose of providing public education for the children within St. Martin Parish. TheSchool Board is authorized by LSA-R.S. 17:51 to establish policies and regulations for its own governmentconsistent with the laws of the State of Louisiana and the regulations of the Louisiana Board of Elementaryand Secondary Education. The School Board is comprised often members who are elected from ten districtsfor terms of four years.
The School Board operates seventeen schools within the parish. In conjunction with the regulareducational programs, some of these schools offer special education and/or adult education programs. Inaddition, the School Board provides transportation and school food services for the students.
(1) Summary of Significant Accounting Policies
The accompanying financial statements of the St. Martin Parish School Board have beenprepared in conformity with generally accepted accounting principles (GAAP) as applied togovernmental units. The Governmental Accounting Standards Board (GASB) is the acceptedstandard-setting body for establishing governmental accounting and financial reporting principles.Proprietary funds apply Financial Accounting Standards Board (FASB) pronouncements andAccounting Principles Board (APB) opinions issued on or before November 30, 1989, unless thosepronouncements conflict with or contradict GASB pronouncements, in which case, GASB prevails.Although the School Board has the option to apply FASB pronouncements issued after that date, theSchool Board has chosen not to apply said pronouncements. The accounting and reportingframework and the more significant accounting policies are discussed below.
A. Financial Reporting Entity
For financial reporting purposes, the School Board includes all funds andactivities that are within the oversight responsibility of the School Board. Becausethe School Board members are independently elected and are solely accountable forfiscal matters, which include (1) budget authority, (2) responsibility for fundingdeficits and operating deficiencies, and (3) fiscal management for controlling thecollection and disbursement of funds, and because of the scope of public serviceprovided by the School Board, the School Board is a separate governmental reportingentity, primary government.
Certain units of local government over which the School Board exercises nooversight responsibility, such as the parish government, other independently electedparish officials, and municipalities within the parish, are excluded from theaccompanying financial statements. These units of government are consideredseparate reporting entities and issue financial statements separate from that of theSchool Board. The School Board is not a component unit of any other entity and doesnot have any component units, which require inclusion in the financial statements ofthe School Board.
18
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
B. Basis of Presentation
Government-Wide Financial Statements (GWFS)
The statement of net assets and the statement of activities display informationabout the School Board, the primary government, as a whole. They include all fundsof the reporting entity, which are considered to be governmental activities. TheSchool Board's internal service fund is a governmental activity. Internal service fundactivity is eliminated to avoid "doubling up" of revenues and expenses. Fiduciaryfunds are not included in the GWFS. Fiduciary funds are reported only in theStatement of Fiduciary Net Assets at the fund financial statement level.
The statement of activities presents a comparison between direct expensesand program revenues for each function of the School Board's governmentalactivities. Direct expenses are those that are specifically associated with a program orfunction and, therefore, are clearly identifiable to a particular function. Programrevenues include (a) fees and charges paid by the recipients of goods or servicesoffered by the programs, and (b) grants and contributions that are restricted tomeeting the operational or capital requirements of a particular program. Revenues thatare not classified as program revenues, including all taxes, are presented as generalrevenues.
Fund Financial Statements (FFS)
The accounts of the School Board are organized and operated on the basis offunds. A fund is an independent fiscal and accounting entity with a separate set ofself-balancing accounts. Fund accounting segregates funds according to theirintended purpose and is used to aid management in demonstrating compliance withfinance-related legal and contractual provisions. Fund financial statements reportdetailed information about the School Board.
The various funds of the School Board are classified into three categories:governmental, proprietary, and fiduciary. The emphasis on fund financial statementsis on major funds, each displayed in a separate column. A fund is considered major ifit is the primary operating fund of the School Board or meets the following criteria:
a. Total assets, liabilities, revenues, or expenditures/expenses of thatindividual governmental or enterprise fund are at least 10 percent ofthe corresponding total for all funds of that category or type; and
b. Total assets, liabilities, revenues, or expenditures/expenses of theindividual governmental or enterprise fund are at least 5 percent ofthe corresponding total for all governmental and enterprise fundscombined.
19
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
The School Board reports the following major governmental funds:
The General Fund is the general operating fund of the School Board. Itaccounts for all financial resources except those required to be accounted for in otherfunds.
The major special revenue fund is the State and Local Special Revenue Funds(which is comprised of the School Lunch Fund, LA-4, the Other State Grants Fund,the Health Centers Fund, the Transportation Fund and the two Sales Tax Funds).These funds account for revenues and expenditures related to certain state and localgrant and entitlement programs as well as other legally restricted funds.
Additionally, the School Board reports the following fund types:
The nonmajor special revenue fund types include the Federal Titles Funds(which is comprised of Title I and Carryover and No Child Left Behind Titles IIthrough VI) and the Federal Grant Funds (which is comprised of IDEA and Preschool,and Other Federal Grants Funds). These funds account for the revenues andexpenditures related to certain federal, state and local grant and entitlement programs.
The Capital Projects Fund, which includes the 1996 Construction Fund, the2002 Construction Fund, and the 2006 Construction Fund, is considered to be anonmajor fund. They are used to account for financial resources to be used for theacquisition or construction of major capital facilities as well as various schoolimprovements.
The Debt Service Fund, established to meet requirements of bond ordinances,is considered to be a nonmajor fund. It is used to account for the accumulation ofresources for and the payment of general long-term debt principal, interest, andrelated costs.
Proprietary Funds -
Proprietary funds are used to account for ongoing organizations and activitiesthat are similar to those often found in the private sector. The measurement focus isbased upon determination of net income, financial position, and cash flows. Thefollowing is the School Board's proprietary fund type:
Internal Service Funds
The Internal Service Funds (proprietary fund type) are used to account for theaccumulation of resources for and the payment of benefits by the School Board'sgroup self-insurance and workers' compensation insurance programs.
20
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Proprietary funds distinguish operating revenues and expenses fromnonoperating items. Operating revenues are derived from contributions made fromthe employer and employees. These revenues are planned to match: (1) expenses ofinsurance premiums in excess of self-insurance amounts; (2) actual claims andestimated liabilities for claims incurred but not yet reported at year-end, and (3)operating expenses. All revenues and expenses not meeting this definition arereported as nonoperating revenues and expenses.
Fiduciary Funds -
Fiduciary funds account for assets held by the government in a trusteecapacity or as an agent on behalf of other funds within the School Board. The fundsaccounted for in this category by the School Board are the agency funds. The agencyfunds are as follows:
School Activity Fund - accounts for monies generated by theindividual schools and organizations within the schools of the parish as wellas allocations made by the School Board to individual schools and selectedorganizations. While the school activity accounts are under the supervisionof the School Board, they belong to the individual schools or their studentbodies and are not available for use by the School Board.
Sales Tax Fund - accounts for the collection and distribution of allsales taxes levied in the parish of St. Martin.
Private-purpose trust funds - accounts for contributions frommembers of the St. Martin Parish School Board to encourage students of highacademic standing and achievement to enter the education profession.
C. Measurement Focus/ Basis of Accounting
Measurement focus is a term used to describe "which" transactions arerecorded within the various financial statements. Basis of accounting refers to "when"transactions are recorded regardless of the measurement focus applied.
Measurement Focus
On the government-wide statement of net assets and the statement ofactivities, the governmental activities are presented using the economic resourcesmeasurement focus as defined in item b. below. In the fund financial statements, the"current financial resources" measurement focus or the "economic resources"measurement focus is used as appropriate:
21
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
a. All governmental funds utilize a "current financial resources" measurementfocus. Only current financial assets and liabilities are generally included ontheir balance sheets. Their operating statements present sources and uses ofavailable spendable financial resources during a given period. These fundsuse fund balance as their measure of available spendable financial resourcesat the end of the period.
b. The proprietary (internal service) fund utilizes an "economic resources"measurement focus. The accounting objectives of this measurement focus arethe determination of operating income, changes in net assets (or costrecovery), financial position, and cash flows. All assets and liabilities(whether current or noncurrent) associated with their activities are reported.Proprietary fund equity is classified as net assets.
Basis of Accounting
In the government-wide statement of net assets and statement of activities, thegovernmental activities are presented using the accrual basis of accounting. Under theaccrual basis of accounting, revenues are recognized when earned and expenses arerecorded when the liability is incurred or economic asset used. Revenues, expenses,gains, losses, assets, and liabilities resulting from exchange and exchange-liketransactions are recognized in accordance with the requirements of GASB StatementNo. 33 "Accounting and Financial Reporting for Nonexchange Transactions."
Program revenues
Program revenues included in the Statement of Activities are derived directlyfrom the program itself or from parties outside the School Board's taxpayers orcitizenry, as a whole; program revenues reduce the cost of the function to be financedfrom the School Board's general revenues.
Allocation of indirect expenses
The School Board reports all direct expenses by function in the Statement ofActivities. Direct expenses are those that are clearly identifiable with a function.Indirect expenses of other functions are not allocated to those functions, but arereported separately in the Statement of Activities. Depreciation expense is specificallyallocated by function and is included in the direct expense of each function. Intereston general long-term debt is considered an indirect expense and is reported separatelyon the Statement of Activities. Interest costs are not capitalized.
22
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
In the fund financial statements, governmental funds are presented on themodified accrual basis of accounting. Under this modified accrual basis ofaccounting, revenues are recognized when "measurable and available." Measurablemeans knowing or being able to reasonably estimate the amount. Available meansbeing collectible within the current period or within 60 days after year-end.Expenditures (including facilities acquisition and construction) are recorded when therelated fund liability is incurred, except for general obligation bond principal andinterest which are reported when due. The governmental funds use the followingpractices in recording revenues and expenditures:
Revenues
Federal and state entitlements (unrestricted grants-in-aid, which include stateequalization and state revenue sharing) are recorded when available and measurable.Expenditure-driven federal and state grants, which are restricted as to the purpose ofthe expenditures, are recorded when the reimbursable expenditures have beenincurred.
Ad valorem taxes are recorded in the year the taxes are due and payable. Advalorem taxes are assessed in November, by the Parish Assessor, based on theassessed value and become due on December 31 of each year. The taxes becomedelinquent on January 1. An enforceable lien attaches to the property as of January 1.The taxes are generally collected in December, January, and February of the fiscalyear. Property tax revenues are accrued at fiscal year-end to the extent that they havebeen collected but not received by the St. Martin Parish Tax Collector's Office. Suchamounts are measurable and available to finance current operations.
Interest income on time deposits is recorded when earned.
Sales and use tax revenues are recorded in the month earned by the SchoolBoard.
Substantially all other revenues are recorded when received.
Expenditures
Salaries are recorded as expenditures when incurred. Nine-month employeesalaries are incurred over a nine-month period but paid over a twelve-month period.
Compensated absences are recognized as expenditures when leave is actuallytaken or when employees (or heirs) are paid for accrued leave upon retirement ordeath.
Commitments under construction contracts are recognized as expenditureswhen earned by the contractor.
23
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Principal and interest on general long-term obligations are not recognizeduntil due.
All other expenditures are generally recognized under the modified accrualbasis of accounting when the related fund liability is incurred.
The proprietary fund utilizes the accrual basis of accounting. Under theaccrual basis of accounting, revenues are recognized when earned and expenses arerecorded when the liability is incurred or economic asset used.
Other Financing Sources (Uses)
Transfers between funds that are not expected to be repaid (or any othertypes, such as capital lease transactions, sales of capital assets, debt extinguishments,long-term debt proceeds, et cetera) are accounted for as other financing sources(uses). These other financing sources (uses) are recognized at the time the underlyingevents occur.
Deferred Revenues
Deferred revenues arise when resources are received before the School Boardhas a legal claim to them, as when grant monies are received prior to the incurrence ofqualifying expenditures or when tuition is received in advance of the commencementof classes.
In subsequent periods, when the School Board has a legal claim to theresources, the liability for deferred revenue is removed from the balance sheet and therevenue is recognized.
D. Assets. Liabilities and Equity
Cash and interest-bearing deposits
For purposes of the Statement of Net Assets, cash and interest-bearingdeposits include all demand accounts, savings accounts, and certificates of deposits ofthe School Board. For the purpose of the proprietary fund statement of cash flows,"cash and cash equivalents" include all demand and savings accounts, and certificatesof deposit or short-term investments with an original maturity of three months or lesswhen purchased.
24
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Investments
Under state law the School Board may deposit funds with a fiscal agentorganized under the laws of the State of Louisiana, the laws of any other state in theunion, or the laws of the United States. The School Board may invest in UnitedStates bonds, treasury notes and bills, government backed agency securities, orcertificates and time deposits of state banks organized under Louisiana law andnational banks having principal offices in Louisiana. In addition, local governmentsin Louisiana are authorized to invest in the Louisiana Asset Management Pool(LAMP), a nonprofit corporation formed by the State Treasurer and organized underthe laws of the State of Louisiana, which operates a local government investmentpool. At June 30, 2008, the School Board's investments in LAMP are stated atmarket value. See additional information in Note 3.
Interfund receivables and payables
During the course of operations, numerous transactions occur betweenindividual funds that may result in amounts owed between funds. Those related togoods and services type transactions are classified as "due to and from other funds."Short-term interfund loans are reported as 'interfund receivables and payables."Interfund receivables and payables as well as due to and from other funds areeliminated in the Statement of Net Assets.
Receivables
Receivables consist of all revenues earned at year-end and not yet received.The majority of this balance is comprised of federal and state grants.
Inventories
The cost of inventories is recorded as expenditures when consumed ratherthan when purchased. Reserves are established for an amount equal to the carryingvalue of inventories.
Inventory of the School Lunch Special Revenue Fund consists of expendablesupplies and food purchased by the School Board and commodities granted by theUnited States Department of Agriculture through the Louisiana Department ofAgriculture and Forestry. The commodities are recorded as revenues when received;however, all inventory items are recorded as expenditures when consumed or used.All purchased inventory items are valued at the lower of cost (first-in, first-out) ormarket, and commodities are assigned values based on information provided by theUnited States Department of Agriculture.
25
ST. MARTIN PARISH SCHOOL BOARDSt. MartinvilJe, Louisiana
Notes to Basic Financial Statements (Continued)
Capital Assets
The accounting treatment over property, plant and equipment (capital assets)depends on whether they are reported in the government-wide or fund financialstatements.
In the government-wide financial statements, capital assets are capitalized athistorical cost, or estimated historical cost if actual is unavailable, except for donatedassets, which are recorded at their estimated fair value at the date of donation. TheSchool Board maintains a threshold level of $5,000 or more for capitalizing capitalassets for purposes of the government wide financial statements. For internalpurposes, the Board maintains a threshold level of $1,000.
Depreciation of all exhaustible capital assets is recorded as an allocatedexpense in the Statement of Activities, with accumulated depreciation reflected in theStatement of Net Assets. Depreciation is provided over the assets' estimated usefullife using the straight-line method of depreciation. The range of estimated useful livesby type of asset is as follows:
Buildings and improvements 20 - 40 yearsFurniture and equipment 5 - 1 5 years
The cost of normal maintenance and repairs that do not add to the value of theasset or materially extend asset lives are not capitalized.
In the fund financial statements, capital assets used in governmental fundoperations are accounted for as facilities acquisition and construction expenditures ofthe governmental fund upon acquisition.
The School Board does not possess any material amounts of infrastructurecapital assets, such as sidewalks and parking lots. Amounts expended for such itemsprior to June 30, 2003 were considered to be part of the cost of buildings andimprovements. In the future, if such items are built or constructed, and appear to bematerial in cost compared to all capital assets, they will be capitalized and depreciatedover their estimated useful lives as with all other depreciable capital assets.
Compensated Absences
All twelve month employees earn from ten to fifteen days of vacation leaveeach year, depending on their length of service with the School Board, which are notcredited to the employee until the first day of the year subsequent to the year thatvacation was earned. Newly hired employees earn vacation on a pro rata basis. Anemployee cannot accumulate more than two years of earned vacation. Any excess islost. Employees are paid for unused vacation (subject to a two year limitation) at thetime of resignation.
26
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
All twelve month employees earn from twelve to eighteen days of sick leaveeach year. Teachers and other nine month employees earn ten days of sick leave eachyear. Sick leave may be accumulated. Upon retirement or death unused accumulatedsick leave of up to twenty-five days is paid to the employee or to the employee'sestate at the employee's current rate of pay. Under the Louisiana Teachers RetirementSystem, the total unused accumulated sick Jeave is used in the retirement benefitcomputation as earned service. Under the Louisiana School Employees RetirementSystem, all unpaid sick leave, which excludes the twenty-five days paid, is used in thecomputation of retirement benefits as earned service. Upon resignation, all sick leaveis forfeited.
Sabbatical leave may be granted for medical reasons and for professional andcultural improvement. Any employee with a teaching certificate is entitled, subject toapproval by the School Board, to one semester of sabbatical leave after three years ofcontinuous service or two semesters of sabbatical leave after six or more years ofcontinuous service. Due to its restrictive nature, sabbatical leave benefits arerecorded as an expenditure in the period paid.
In the government-wide statements, amounts of vested or accumulated sickleave that are not expected to be liquidated with expendable available financialresources are recorded as long-term debt.
At June 30, 2008, employees of the School Board have accumulated andvested $4,107,366 of compensated absence benefits payable. Salary related paymentsare not accrued since this amount is deemed to be insignificant.
Long-term debt
The accounting treatment of long-term debt depends on whether the assets areused in governmental fund operations or proprietary fund operations and whether theyare reported in the government-wide or fund financial statements. Since the SchoolBoard's only Proprietary Fund is the Self-Insurance Internal Service Fund, which hasno long-term debt, all School Board long-term debt is used in governmental fundoperations.
All long-term debt to be repaid from governmental resources is reported asliabilities in the government-wide statements. The long-term debt consists primarilyof general obligation bonds.
Long-term debt for governmental funds is not reported as liabilities in thefund financial statements. The debt proceeds are reported as other financing sourcesnet of the applicable premium or discount and payment of principal and interestreported as expenditures. For fund financial reporting, issuance costs, even ifwithheld from the actual net proceeds received, are reported as debt serviceexpenditures.
27
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Equity Classifications
In the government-wide statements, equity is classified as net assets anddisplayed in three components:
a. Invested in capital assets, net of related debt - Consists of capitalassets including restricted capital assets, net of accumulated depreciation andreduced by the outstanding balances of any bonds, mortgages, notes, or otherborrowing that are attributable to the acquisition, construction, orimprovement of those assets.
b. Restricted net assets - Consists of net assets with constraints placedon the use either by (1) external groups, such as creditors, grantors,contributors, or laws or regulations of other governments; or (2) law throughconstitutional provisions or enabling legislation.
c. Unrestricted net assets - All other net assets that do not meet thedefinition of "restricted" or "invested in capital assets, net of related debt."
In the fund financial statements, governmental fund equity is classified asfund balance. Fund balance is further classified as reserved and unreserved, withunreserved further split between designated and undesignated. Proprietary fund equityis classified the same as in the government-wide statements.
Fund balance reserved for other purposes is comprised of the following:
State and LocalGeneral Special Revenue
Fund Funds Total
Salaries and operating expenses(1965 sales tax issue)
Salaires and benefits(1990 sales tax issue)
Inventory 133,403
3,992,199 $3,992,199
4,945,355 4,945,355
173,899 305,302
$ 131,403 $ 9,111,453 $9,242,856
28
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Fund balance designated is comprised of the following:
Health centers $ 187,458Transportation Special Revenue Fund 233,806
Total $ 421,264
E. Budget Practices
The School Board adopted budgets for the General Fund and the SpecialRevenue Funds. Budgets are prepared on a modified accrual basis of accounting. Allappropriations lapse at year end, and any encumbrances outstanding are included inthe next year's budget. Formal budget accounts are integrated into the accountingsystem as a management control device.
The superintendent of schools and the chief financial officer are authorized totransfer amounts between budgeted line items within any fund. However, anyunfavorable variances of revenues or expenditures of five percent or more within afund must be presented to the School Board for Board action to amend fund budgets.Budgeted amounts included in the accompanying financial statements include theoriginal adopted budgets and all subsequent amendments.
F. Revenue Restrictions
The School Board has various restrictions placed over certain revenue sourcesfrom state or local requirements. The primary restricted revenue sources include:
Revenue Source Legal Restrictions on UseSales and use taxes See Note 10Ad valorem taxes See Note 4
The School Board uses unrestricted resources only when restricted resourcesare fully depleted.
G. Use of Estimates
The preparation of financial statements in conformity with generally acceptedaccounting principles requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure of contingent assetsand liabilities at the date of the financial statement and the reported amounts ofrevenues and expenditures during the reporting period. Actual results could differfrom those estimates.
29
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
(2) Cash and Interest-Bearing Deposits
Under state law, the School Board may deposit funds within a fiscal agent bank organizedunder the laws of the State of Louisiana, the laws of any other state in the Union, or the laws of theUnited States. The School Board may invest in certificates and time deposits of state banks organizedunder Louisiana law and national banks having principal offices in Louisiana. At June 30, 2008, theSchool Board has cash and cash equivalents (book balances) totaling $7,496,334 as follows:
Governmental FiduciaryFunds Funds Total
Demand depositsInterest-bearing depositsAmounts owed to governmental funds
$ 1,6087,148,845
26,388
$ 3,564342,317(26,388)
$ 5,1727,491,162
-
Total $ 7,176,841 $ 319,493 $ 7,496,334
These deposits are stated at cost, which approximates market. Custodial credit risk is therisk that in the event of a bank failure, the School Board's deposits may not be returned to it. TheSchool Board's policy, by state law, is that all deposits must be secured by federal deposit insuranceor the pledge of securities owned by the fiscal agent bank. The market value of the pledgedsecurities plus the federal deposit insurance must at all times equal the amount on deposit with thefiscal agent bank. These securities are held in the name of the pledging fiscal agent bank in a holdingor custodial bank that is mutually acceptable to both parties. Deposit balances (bank balances) atJune 30, 2008 are secured as follows:
Bank balances $ 8,966,168
At June 30, 2008 the deposits are secured as follows:InsuredUninsured and collateral held by pledging bank not in School Board's name
Total
$ 201,7078,764,461
$ 8,966,168
(3) Investments
The School Board can invest in direct debt securities of the United States unless lawexpressly prohibits such an investment The School Board's investments are categorized to give anindication of the level of risk assumed by it at year-end. Category 1 includes investments that areinsured or registered or for which the securities are held by the School Board or its agent in theSchool Board's name. Category 2 includes uninsured and unregistered investments with securitiesheld by the counterparty's trust department or agent in the School Board's name. Category 3 includesuninsured and unregistered investments with securities held by the counterparty, or by its trustdepartment or agent, but not in the School Board's name.
30
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Investments consist of amounts on deposit with the Louisiana Asset Management Pool(LAMP) and Morgan Keegan and Company, Inc. An investment in the amount of $22,839,899 atJune 30, 2008 is deposited in LAMP, a local government investment pool, of which $726,586 isattributable to the fiduciary fund, which is not presented in the statement of net assets. In accordancewith GASB Codification Section 150.165, the investment in LAMP is not categorized into the threerisk categories provided by GASB Codification Section 150.164 because the investment is in the poolof funds and thereby not evidenced by securities that exist in physical or book entry form.
LAMP is administered by LAMP, Inc., a non-profit corporation organized under the laws ofthe State of Louisiana. Only local government entities having contracted to participate in LAMPhave an investment interest in its pool of assets. The primary objective of LAMP is to provide a safeenvironment for the placement of public funds in short-term, high quality investments. The LAMPportfolio includes only securities and other obligations in which local governments in Louisiana areauthorized to invest in accordance with LSA-R.S. 33:2955. Accordingly, LAMP investments arerestricted to securities issued, guaranteed, or backed by the U.S. Treasury, the U.S. government, orone of its agencies, enterprises, or instrumentalities, as well as repurchase agreements collateralizedby those securities.
Effective August 1, 2001, LAMP'S investment guidelines were amended to permit theinvestment in government-only money market funds. In its 2001 Regular Session, the LouisianaLegislature (Senate Bill No, 512, Act 701) enacted LSA-R.S. 33:2955 (a) (1) (h) which allows allmunicipalities, parishes, school boards, and any other political subdivisions of the State to invest in"Investment grade (A-l/P-1) commercial paper of domestic United States corporations." EffectiveOctober 1, 2001, LAMP'S investment guidelines were amended to allow the limited investment in A-1 or A-1+ commercial paper.
The dollar weighted average portfolio maturity of LAMP assets is restricted to not more than90 days, and consists of no securities with a maturity in excess of 397 days. LAMP is designed to behighly liquid to give its participants immediate access to their account balances. The investments inLAMP are stated at fair value based on quoted market rates. The fair value is determined on aweekly basis by LAMP and the value of the position in the external investment pool is the same asthe value of the pool shares.
LAMP; Inc. is subject to the regulatory oversight of the state treasurer and the board ofdirectors. LAMP is not registered with the SEC as an investment company.
At June 30, 2008, the School Board's investment, at cost, is $22,850,130. The amortized costof this investment at June 30, 2008 was also $22,850,130. The market value of this investment atJune 30, 2008 was $22,839,899.
An investment in the amount of $10,966,185 at June 30, 2008 is deposited into MorganKeegan and Company, Inc. This investment is composed of government securities which are fullyguaranteed as to payment by the United States government. Because of the safety of this investment,this investment takes exception to state law requiring security of federal deposit insurance or thepledge of securities owned by the fiscal agent bank.
31
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
As of June 30, 2008, the investments in Morgan Keegan and Company, Inc. were comprisedof the following.
Investment Maturities Fair Values
Federal Home Loan Bank 10/28/08 to 4/15/20 $ 6,930,725Fannie Mae 7/06/10 to 6/20/13 2,033,780Federal Farm Credit Bank 12/04/17 2,001,680
Total $10,966,185
The School Board does not have a formal investment policy that limits investment maturitiesas a means of managing its exposure to fair value losses arising from increasing interest rates.
(4) Ad Valorem Taxes
The following is a summary of authorized and levied ad valorem taxes:
Mi 11 ages2008 2007
Parishwide taxes:Constitutional 2.93 2.93
Special school-Maintenance 9.35 9.35Operation and maintenance 1.85 1.85
School bonds 22.39 22.39
Ad valorem taxes attach as an enforceable lien on property as of January 1 of each year.During the fiscal year ended June 30, 2008, taxes were levied by the School Board in July and werebilled to taxpayers by the Assessor in November. Billed taxes are due by December 31, becomingdelinquent on January 1 of the following year.
The taxes are based on assessed values determined by the Tax Assessor of St. Martin Parishand are collected by the Sheriff. The taxes are remitted to the School Board net of deductions forPension Fund contributions.
The School Board received ad valorem taxes that were paid under protest. It is possible thatthese taxes (or a portion thereof) will have to be returned to the taxpayer. The amount received of$234,312 is reflected as a restricted asset. The estimated amount that may have to be refunded is$234,312 and is reflected as deferred revenue on the balance sheet at June 30, 2008.
32
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
(5)
(6)
(7)
Receivables
Receivables at June 30, 2008 of $1,807,078 consisted of the following:
Accrued interestSpecific stop loss receivablesRebatesSales taxesOther
Due from Other Governmental Agencies
$ 108,388159,991126,325
1,107,029305,345
$1,807,078
Due from other governmental agencies of $2,738,868 consisted primarily of amounts duefrom the State of Louisiana Department of Education for various appropriations and reimbursements.
Capital Assets
Capital assets balances and activity for the year ended June 30, 2008 is as follows:
BalanceJuly 1,2007 Additions Deletions
BalanceJune 30, 2008
Capital assets notbeing depreciated:
LandConstruction in progress
Other capital assets:Buildings and improvementsFurniture and equipment
Total
Less accumulated depreciation:Buildings and improvementsFurniture and equipment
Total
Net capital assets
At June 30, 2008, construction in progress of $118,670 consists of costs incurred to date onone school improvement project.
$ 815,012195,400
70,372,3316,907,782
78,290,525
29,867,3275,092,072
34,959,399
$43,331,126
$ 8,243689,697
758,184837,963
2,294,087
1,400,970398,331
1,799,301
$ 494,786
$(766,427)
(82,437)(848,864)
(76,933)
(76,933)
$ (771,931)
$ 823,255118,670
71,130,5157,663,308
79,735,748
31,268,2975,413,470
36,681,767
$43,053,981
33
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Depreciation expense was charged to governmental activities as follows:
Regular education programs $ 632,526Special education programs 193,042Vocational education programs 36,020Other instructional programs 35,777Special programs 141,514Adult and continuing education programs 3,236Pupil support services 106,797Instructional staff support 87,059General administration 30,299School administration 88,866Business services 24,170Operation and maintenance of plant services 150,682Student transportation services 129,526Central services 18,344Food services 114,928Community services programs 6,515
Total depreciation expense $ 1,799,301
(8) Other Pavables
At June 30, 2008, a breakdown of other payables of $579,695 was as follows:
Accounts $ 575,048Other liabilities 4,647
$ 579,695
34
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
(9) Changes in General Long-Term Liabilities
The following is a summary of the changes in general long-term debt for the year ended June30, 2008:
Obligations payable at July 1, 2007
AdditionsAdd: amortizationReductions
Compensated BondedAbsences Debt Total
$ 3,626,760 $28,019,885 $31,646,645
2,339,301 - 2,339,30142,191 42,191
(1,858,695) (1,894,091) (3,752,786)
Obilgations payable at June 30, 2008 $ 4,107,366 $26,167,985 $30,275,351
Compensated Absences
Compensated absences payable consists of the portion of accumulated sick leave andvacation leave of the governmental funds that is not expected to require current resources. TheGeneral Fund and Special Revenue Funds have historically been used to pay compensated absences(when applicable).
35
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
Bonded Debt
School Board bonds outstanding at June 30, 2008 consist of parishwide general obligationschool bonds and qualified zone academy bonds as follows:
Final InterestOriginal Interest Payment to Principal
Date of Issue Issue Rates Date Maturity Outstanding
Parishwide general obligationschool bonds March 1, 1998
Parishwide general obligationschool bonds March 1, 2000
Qualified zone academy bondsFebruary 1,2002
Parishwide general obligationschool bonds July 1, 2002
Parishwide general obligationschool bonds July 1, 2003
Parishwide general obligationschool re funding bonds;October 1,2004
Parishwide general obligationschool refunding bonds;March 1, 2005
Parishwide general obligationschool refunding bonds;March 1, 2006
$10,000,000 5.00 3/01/08 $
2,000,000 5.25-6.25 3/01/10 14,700 185,000
1,500,000 11/01/15 818,182
8,000,000 4.125-5.125 03/01/22 2,516,934 6,415,000
4,000,000 3.00-4.00 03/01/23 1,074,209 3,340,000
3,455,000 3.00 - 3.75 03/01/16 469,006 2,800,000
5,490,000 3.00-4.50 03/01/17 1,093,087 4,970,000
8,080,000 4.00 - 5.00 03/01/20 2,097,800 8,050,000
36
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
All principal and interest requirements on the parishwide general obligation school bonds arefunded in accordance with Louisiana law by an annual ad valorem tax levy on taxable propertywithin the parish. At June 30, 2008, the School Board has accumulated $1,922,778 in the debtservice funds for future debt requirements. The bonds are due as follows:
Principal InterestYear Ending June 30 Payments Amortization Payments Total
2009 $ 1,979,091 $ (42,191) $ 1,054,459 $ 2,991,3592010 2,069,091 (42,191) 985,713 3,012,6132011 2,159,091 (42,191) 907,730 3,024,6302012 2,244,091 (42,191) 830,249 3,032,1492013 2,354,091 (42,191) 748,346 3,060,246
2014-2018 11,732,727 (173,455) 2,267,398 13,826,6702019-2023 4,040,000 (25,787) 471,841 4,486,054
$ 26,578,182 $ (410,197) $ 7,265,736 $ 33,433,721
(10) Sales and Use Taxes
The School Board is authorized and has levied the following sales and use taxes:
1. March 20. 1965(1%)
After paying collection and administration costs, the tax is tobe used for salaries of teachers and for the expenses of operatingschools, including payment of other personnel in addition to teachers.
2. July 21, 1990(1%)
The tax is to be used for the payment of all debt servicerequirements on all outstanding bonds payable from the pledge of saidtax, with the remainder to be used for the purpose of paying salariesand related benefits for professional and paraprofessional employees ona seven to five ratio. There are currently no bonds outstanding forwhich this tax is pledged.
(11) Pension Plan
Eligible employees of the School Board participate in one of six defined benefit multiple-employer public employee retirement systems (PERS), which are controlled and administered by a
37
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
separate board of trustees. These retirement systems provide retirement, disability and death benefitsto plan members and their beneficiaries. Pertinent information relative to each plan follows:
A. Louisiana Teachers' Retirement System of Louisiana - Regular
Plan members are required to contribute 8.0 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 16.6 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007 and 2006 were$6,030,489, $5,132,619, and $4,891,530, respectively, equal to the requiredcontribution for each year.
A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana Teachers' Retirement System, P.O. Box 94123, Baton Rouge, Louisiana70804-9123.
B. Louisiana Teachers' Retirement System of Louisiana - Plan A
Plan members are required to contribute 9.1 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 16.6 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$50,737, $44,060, and $42,010, respectively, equal to the required contribution foreach year.
A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana Teachers' Retirement System, P.O. Box 94123, Baton Rouge, Louisiana70804-9123.
C. Louisiana Teachers' Retirement System of Louisiana-Optional
Plan members are required to contribute 8.0 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 16.6 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$11,591, $10,259, and $0, respectively, equal to the required contribution for eachyear.
A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana Teachers' Retirement System, P.O. Box 94123, Baton Rouge, Louisiana70804-9123.
38
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
D. Parochial Employees' Retirement System
Plan members are required to contribute 9.5 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 13.25 percent of the total covered salary. The School Board's total contributions tothe system for the years ended June 30, 2008, 2007 and 2006 were $1,248, $1,248,and $1,224, respectively, equal to the required contribution for each year.
A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theParochial Employees' Retirement System, P.O. Box 14619, Baton Rouge, Louisiana70898-4619.
E. Louisiana State Employees' Retirement System
Plan members are required to contribute 7.5 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 20.4 percent of the total annual covered salary. The School .Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$17,647, $15,468, and $13,880, respectively, equal to the required contributions foreach year.
A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana State Employees' Retirement System, P.O. Box 44213, Baton Rouge,Louisiana 70804-4213.
F. Louisiana School Employees' Retirement System
Plan members are required to contribute 7.5 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 18.1 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$772,894, $710,280 and $607,307, respectively, equal to the required contributionsfor each year.
A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana School Employees' Retirement System, P.O. Box 44516, Baton Rouge,Louisiana 70804.
39
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
(12) Changes in Agency Deposits Due Others
A summary of changes in agency fund deposits due others follows:School
Activity Sales TaxFund Fund Total
Balance at July 1,2007 $ 1,202,692 $ - $ 1,202,692
Additions 1,701,142 22,235,047 23,936,189Reductions (1,923,844) (22,235,047) (24,158,891)
Balance at June 30,2008 $ 979,990 $ - $ 979,990
(13) Risk Management
The School Board is exposed to risks of loss in the areas of health care, workers'compensation, general and auto liability and property hazards. Health care and workers'compensation risks are handled through a self-insurance plan as described below. The other risks arehandled by purchasing commercial insurance. There have been no significant reductions in theseinsurance coverages during the current fiscal year, nor have settlements exceeded insurance coveragefor the current or prior two fiscal years.
A. Workers' Compensation
The School Board has established a limited risk management program forworkers' compensation. The School Board hired Cannon Cochran ManagementServices, Inc. (CCMSI) as administrator for this program. During fiscal year 2008, atotal of $1,657,429 was incurred in benefits and administrative costs. The SchoolBoard purchases commercial insurance for individual claims in excess of $200,000.Incurred but not paid claims have been accrued as a liability in the WorkersCompensation Fund.
B. Group Self-Insurance
The School Board also established a limited risk management program for grouphospitalization insurance. This plan provides employee health benefits up to a$1,000,000 lifetime maximum with an annual $10,000 restoration. The School Boardpurchases commercial insurance for individual claims in excess of $150,000. Duringthe fiscal year ended June 30, 2008, several settled claims exceeded the commercialcoverage in the amount of $159,991.
40
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
The General and Special Revenue Funds of the School Board participate in theprogram and make payments to the Self-Insurance Fund based on amounts needed topay prior and current year claims. The claims liability of $980,000 reported in the fundat June 30, 2008, is based on the loss that is probable at the date of the financialstatements and the amount of the loss that can be reasonably estimated. The SchoolBoard currently does not discount its claims liabilities.
C. Reconciliation of Claims Liabilities
Changes in the claims liability amounts for the risk management programs areas follows:
Balance at Claims and Benefit Balance atBeginning of Changes in Payments FiscalFiscal Year Estimates and Claims Year-End
Workers' compensation:2005-20062006-20082007-2008
Group hospitalization:2005-20062006-20072007-2008
Claims payable of $1,443,420 for workers' compensation at June 30, 2008was obtained from information provided by the third party administrator.
Claims payable for group hospitalization of $980,000 at June 30, 2008 wasdetermined as follows:
1. Claims incurred prior to June 30, 2008and paid between July 1, and September 30, 2008 $ 526,760
2. Provision for claims incurred but not reported 453,240
Total claims payable $ 980,000
The provision for claims incurred but not reported of $453,240 was calculatedutilizing historical information.
$ 290,951502,492
1,049,507 .
1,695,0001,295,000995,000
$ 858,1821,476,8011,397,582
7,463,4288,208,0309,241,654
$ 646,641929,786
1,003,669
7,863,4288,508,0309,256,654
$ 502,4921,049,5071,443,420
1,295,000995,000980,000
41
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)(14) Compensation of Board Members
A detail of the compensation paid to individual board members for the year ended June 30,2008 follows:
Wanda Babin $ 9,600James Blanchard 10,800Aaron Flegeance 9,600Steve Fuselier 9,600Mark Hebert 9,600Floyd Knott 9,600Barbara Latiolais 9,600Rodney Ledoux 9,600Richard Potier 9,600Frederic Stelly 9,600
$ 97,200
(15) Commitments and Contingencies
A. Contingent LiabilitiesAt June 30, 2008, the School Board is involved in several lawsuits. In the
opinion of management and/or legal counsel for the School Board, resolution of theselawsuits will not involve any material liability (after meeting the insurance deductibleof $50,000 per occurrence) to the School Board in excess of insurance coverage.Total liability for lawsuits as well as other claims accrued at June 30, 2008 is$228,691 and is included in insurance claims payable on the statement of net assets.
B. Grant AuditAmounts received or receivable from grantor agencies are subject to audit and
adjustment by grantor agencies. Any disallowed claims, including amounts alreadycollected, may constitute a liability of the applicable funds. The amount, if any, ofexpenditures which may be disallowed by the grantor cannot be determined at thistime although the School Board expects such amounts, if any, to be immaterial.
C. Potential Misappropriation of Funds
1. At June 30, 2007, the School Board was conducting an internalinvestigation regarding potential misappropriation of funds. The dollar amountinvolved was approximately $4,000. As a result of this investigation, the employeeinvolved resigned. It was determined that there was insufficient evidence to pursuethe matter further. This matter is considered closed.
42
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
2. In May 2008, the School Board learned of a situation involving excessiveamounts of fuel purchases. Upon inquiry and internal investigation, the involvedemployee resigned. However, the employee did admit to using the fuel card forpersonal reasons. The amount in question is approximately $17,000. A receivable hasnot been recorded. Information has been submitted to both the District Attorney'soffice as well as the Sheriffs office. The outcome of these external investigations isuncertain at this time.
(16) Interfund Transactions
A. Interfund receivables and payables, by fund, at June 30, 2008 are as follows:Receivables Payables
Major funds:General FundState and Local Special Revenue Funds
Total major funds
Nonmajor governmental funds
Internal service funds
Total
$ 2,668,525
2,668,525
234,550
753,527
$ 779,9151,028,925
1,808,840
1,847,762
_
$ 3,656,602 $ 3,656,602
The amounts shown are primarily for reimbursements owed for expenditurespaid by one fund on behalf of another fund. All balances should be repaid within oneyear.
B. Transfers consisted of the following at June 30, 2008:
Major funds:General FundState and Local Special Revenue Funds
Nonmajor governmental funds
Total
Transfers In Transfers Out
$11,212,527 $ 3,104,0791,122,324 10,791,627
1,979,797 418,942
$14,314,648 $14,314,648
Transfers are used to (a) move revenues from the fund that statute or budgetrequires to collect them to the fund that statute or budget requires to expend them andto (b) use unrestricted revenues collected in the general fund to finance variousprograms accounted for in other funds in accordance with budgetary authorizations.
43
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Basic Financial Statements (Continued)
(17) Post-Retirement Health Care and Life Insurance Benefits
The School Board provides continuing health care benefits for its retired employees.Substantially all of the School Board's employees become eligible for these benefits if theyreach normal retirement age while working for the School Board. The monthly premiums ofthese benefits for retirees are shared by the employee (approximately 31%) and by the SchoolBoard (approximately 69%). The School Board had approximately 520 retirees and incurreda cost of approximately $2,433,996 as it relates to retiree benefits for the year ended June 30,2008.
In June 2004, The Governmental Accounting Standards Board issued Statement No.45, "Accounting and Financial Reporting by Employers for Post-employment Benefit PlansOther Than Pensions Plans." The School Board is required to implement this standard for theyear ended June 30, 2009. The School Board has not yet determined the full impact that theadoption will have on the financial statements.
44
REQUIRED SUPPLEMENTARYINFORMATION
45
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
General Fund
Budgetary Comparison ScheduleFor the Year Ended June 30, 2008
Revenues:Local sources -
Ad valorem taxesTuitionTransportationInterest earningsRentals, leases, and royaltiesOther
State sources -Unrestricted grants-in-aidRestricted grants-in-aidRevenue in lieu of taxesOther state revenues
Total revenues
Expenditures:Instruction -
Regular education programsSpecial education programsVocational education programsOther instructional programsSpecial programsAdult and continuing education programs
Support services -Pupil support servicesInstructional staff servicesGeneral administrationSchool administrationBusiness servicesOperation and maintenance of plantStudent transportation servicesCentral services
Community service programs
Total expenditures
Deficiency of revenues over expenditures
Other financing sources (uses):Operating transfers inOperating transfers out
Total other financing sources
Excess of revenues and other sourcesover expenditures
Fund balance, beginning
Fund balance, ending
BudgetOriginal
$ 2,248,100 $39,10041,800
972,500590,000347,000
43,835,904286,000262,000
20,000
48,642,404
25,621,2457,642,1001,374,000
638,600391,60041,400
1,934,0002,746,400
785,9003,578,5001,054,3606,059,4004,420,900
834,30026,800
57,149,505
(8,507,101)
10,735,428(1,363,414)
9,372,014
864,913
16,193,392
$ 17,058,305 $
Final
2,378,89036,77326,600
1,006,000512,000460,225
43,838,500254,464283,600
20,050
48,817,102
25,386,3657,147,5901,311,288
686,872432,86147,333
2,083,1822,796,514
866,4043,712,7711,059,4296,400,4124,740,707
910,97732,149
57,614,854
(8,797,752)
11,294,455(2,236,631)
9,057,824
260,072
16,193,392
16,453,464
Actual
$ 2,402,07038,70367,422
1,065,169637,267748,181
43,838,592270,342283,743
17,849
49,369,338
25,365,5687,201,5291,323,470
711,004404,533
32,125
2,132,8132,680,417
981,5883,622,803
982,7626,124,9354,551,995
741,36032,645
56,889,547
(7,520,209)
1 1,21 2,527(3,104,079)
8,108,448
588,239
16,193,392
$ 16,781,631
Variance -Final budgetvs. ActualPositive
(Negative)
$ 23,1801,930
40,82259,169
125,267287,956
9215,878
143(2,201)
552,236
20,797(53,939)(12,182)(24,132)28,32815,208
(49,631)116,097
(115,184)89,96876,667
275,477188,712169,617
(496)
725,307
1,277,543
(81,928)(867,448)
(949,376)
328,167
.
$ 328,167
46
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
State and Local Special Revenue Funds
Budgetary Comparison ScheduleFor the Year Ended June 30,2008
Revenues:Local sources -
Sales taxesInterest earningsOther
State sources -Unrestricted grants-in-aidRestricted grants-in-aid
Federal sources -Restricted grants-in-aid through the stateValue of USDA Commodities
Total revenues
Expenditures:Instruction -
Regular education programsSpecial education programsOther instructional programsSpecial programsAdult and continuing education programs
Support services -Pupil support servicesInstructional staff servicesGeneral administrationSchool administrationOperation and maintenance of plantStudent transportation servicesCentral services
Food service
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):Operating transfers inOperating transfers out
Total other financing uses
Excess (deficiency) of revenues and other sourcesover expenditures and other uses
Fund balance, beginning
Fund balance, ending
BudgetOriginal
$ 11,718,841 $34,295
393,884
61,1641,884,724
4,625,823212,000
18,930,731
184,71339,262
509,0151,757,095
21,670
910,010274,915244,464
2,40046,000
820,35280,000
4,573,2919,463,187
9,467,544
1,122,324(10,454,430)
(9,332,106)
135,438
9,114,326
$ 9,249,764 $
Final
12,006,34195,235
431,655
61,1644,083,417
2,748,744224,948
19,651,504
433,32840,456
675,6841,739,510
26,402
873,055266,929248,864
2,08046,000
821,94780,000
4,761,977
10,016,232
9,635,272
1,122,324(10,859,810)
(9,737,486)
(102,214)
9,114,326
9,012,112
Actual
$ 12,101,53681,205
419,592
61,1643,858,824
2,707,343224,948
19,454,612
426,13240,456
614,7821,592,495
26,402
868,869266,084251,069
2,08015,112
729,638-
4,680,039
9,513,158
9,941,454
1,122,324(10,791,627)
(9,669,303)
272,151
9,114,326
$ 9,386,477
Variance -Final budgetvs. ActualPositive
(Negative)
$ 95,195(14,030)(12,063)
_
(224,593)
(41,401)-
(196,892)
7,196-
60,902147,015
-
4,186845
(2,205)-
30,88892,30980,00081,938
503,074
306,182
68,183
68,183
374,365
.
$ 374,365
47
OTHER SUPPLEMENTARY INFORMATION
48
INTERNAL CONTROL
COMPLIANCE
AND
OTHER INFORMATION
49
C. Burton KoWer, CPA*Russell F. Champagne, CPA"Victor R. Slaven, CPA*P. Troy Courvilte, CPA*Gerald A, Thibodeaux, Jr.,CPA"Robert S. Carter, CPA"Arthur R. Mixon, CPA*
KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC
Tynes E. Mixon. Jr., CPAAllen J. LaBry, CPAAlbert R. Leger, CPA.PFS.CSA*Penny An0e)le Scnjgnins. CPAChristine L Cousin, CPAMary T. TMxxteaux, CPAMarshall W. Gutdry, CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Mete, CPAKeOy M. Doucet. CPACheryl L Bartiey, CPA CVAMandy B. Sell. CPAPaul L. Detcambm, Jr. CPAWanda F. Arcement, CPAKristin B. Dauzat, CPARichard R- Andereon ST., CPACarolyn C Anderson, CPA
Retired:Conrad 0- Chapman, CPA' 2006Harry J. Ctosfo, CPA 2007
" A Profession* Accounting Corporation
CERTIFIED PUBLIC ACCOUhTTANTS
P.O. BOX 250Breaux Bridge, l_A 70517
Phone (337) 332-4020Fax (337) 332-2867
OFFICES
1B3 South Beadle Rd.Lafayette, LA 70508Phone (337) 232-4141Fax (337) 232-8660
450 East Mam StreeNew Iberia, LA 7056C
Phone (337) 367-9204Fax (337) 367-9206
113 East BridoeSt 200 South Mam StreeBreaux Bridge, LA 70517 Abbevilte, LA 7051 (Phone (337) 332-4020 Phone (337) B93-79*Fax (337) 332-2867 Fax (337) 893-794*
1234 David Dr. Ste203Morpan City, LA 70380Phone (985) 384-2020Fax (985) 384-3020
408 West Cotton StreetVilte Ptatte. LA 70586Phone (337) 363-2732Fax (337) 36 -3049
332 West Sixth AvenueObertin, LA 70655Phone (337) 639-4737Fax (337) 63&-456B
1013 Main StreeFranklin, LA 7D53J
Phone (337) SZWJZr.Fax (337) 62B-Q29C
133 East WadcSIStMarksvilteLA7135-
Phone (318) 253-925:Fax (318) 253-868-
621 Main StreePineville, LA7136C
Phone (318) 442-442-Fax (318) 442-983;
WEBSFTE;WWW.KCSRCPAS.COM
REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING AND ON COMPLIANCE AND OTHERMATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITHGOVERNMENT AUDITING STANDARDS
Mr. Richard Lavergne, Superintendentand Members of the St. Martin ParishSchool Board
St. Martinville, Louisiana
We have audited the accompanying financial statements of the governmental activities, each majorfund, and the aggregate remaining fund information of the St. Martin Parish School Board, as of and for theyear ended June 30, 2008, which collectively comprise the St. Martin Parish School Board's basic financialstatements and have issued our report thereon dated November 14, 2008. We conducted our audit inaccordance with auditing standards generally accepted in the United States of America and the standardsapplicable to financial audits contained in Government Auditing Standards, issued by the ComptrollerGeneral of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the St. Martin Parish School Board's internalcontrol over financial reporting as a basis for designing our auditing procedures for the purpose of expressingour opinions on the financial statements, but not for the purpose of expressing an opinion on the effectivenessof the St. Martin Parish School Board's internal control over financial reporting. Accordingly, we do notexpress an opinion on the effectiveness of the St. Martin Parish School Board's internal control overfinancial reporting.
Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLIC ACCOUNTANTS
50Member of:
SOCIETY OF LOUISIANACERTIFIED PUBLIC ACCOUNTANTS
A control deficiency exists when the design or operation of a control does not allow management oremployees, in the normal course of performing their assigned functions, to prevent or detect misstatements ona timely basis. A significant deficiency is a control deficiency, or a combination of control deficiencies, thatadversely affects the St. Martin Parish School Board's ability to initiate, authorize, record, process, or reportfinancial data reliably in accordance with generally accepted accounting principles such that there is morethan a remote likelihood that a misstatement of the St. Martin Parish School Board's financial statements thatis more than inconsequential will not be prevented or detected by the St. Martin Parish School Board'sinternal control.
A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that a material misstatement of the financial statements will not beprevented or detected by the St. Martin Parish School Board's internal control.
Our consideration of internal control over financial reporting was for the limited purpose describedin the first paragraph of this section and would not necessarily identify all deficiencies in internal control thatmight be significant deficiencies or material weaknesses. We did not identify any deficiencies in internalcontrol 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 St. Martin Parish School Board'sfinancial statements are free of material misstatement, we performed tests of its compliance with certainprovisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have adirect and material effect on the determination of financial statement amounts. However, providing anopinion on compliance with those provisions was not an objective of our audit, and accordingly, we do notexpress such an opinion. The results of our tests disclosed no instances of noncompliance or other mattersthat are required to be reported under Government Auditing Standards.
This report is intended solely for the information and use of management, others within the entity,Board Members, and federal awarding agencies and pass-through entities and is not intended to be andshould not be used by anyone other than these specified parties. Although the intended use of this report maybe limited, under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as apublic document.
Kolder, Champagne, Slaven& Company, LLCCertified Public Accountants
Breaux Bridge, LouisianaNovember 14, 2008
51
C. Burton KoWer. CPA*Russell F. Champagne. CPA*Victor Ft Slaven, CPA'P. Troy Courviile, CPA*Gerald A. Thibodeaux, Jr.,CPA"Roberts. Carter, CPA*Arthur R. Mbcon, CPA"
KOLDER, CHAMPAGNE, SLAVEN & COMPANY,CERTIFIED PUBLIC ACCOUNTANTS
LLC
Tynes E. Mixon, Jr.. CPAAllen J. LaBry, CPAAlbert R. Leoar, CPA.PFS.CSA*Penny Angelte Scnjgojns, CPAChristine L Cousin, CPAMary T. Thfcodeaux, CPAMarshall W. Gurdry. CPAAlan M. Taylor. CPAJames R. Roy. CPARobert J. Met, CPAKelly M. Doucet, CPACheryl L Barttey. CPA, CVAMandy B Self, CPAPaul L Delcambre, Jr. CPAWanda F. Arcament, CPAKristin B. Dauzat, CPARichard R. Anderson St., CPACarolyn C. Anderson, CPA
Retired:Conrad 0. Chapman. CPA* 2006Hairy J. Clostio. CPA 2007
' A Professional Accourtino Cacporalion
P.O. Box 250Breaux Bridge, LA 70517
Phone (337) 332-4020Fax (337) 332-2867
REPORT ON COMPLIANCE WITHREQUIREMENTS APPLICABLE TO EACHMAJOR PROGRAM AND ON INTERNAL
CONTROL OVER COMPLIANCE INACCORDANCE WITH OMB CIRCULAR A-133
OFFICES
1 S3 South Beadle Rd.Lafayette, LA 70508Phone (337) 232-4141Fax (337) 232-8660
450 East Main StreetNew Iberia, LA 7056C
Phone (337) 367-9204Fax (337) 367-9206
113 East Bridge St 200 South Main StrawBreaux Bridge. LA70517 Abbeville, LA7051tPhone (337) 332-4020 Phone (337) 893-794*Fax (337) 332-2867 Fax (337) 893-7946
1234 David Dr. Ste 203Morgan City. LA 70380Phone (985) 3B4-2020Fax (985) 384-3020
408 West Cotton StreetVille Plate, LA 70586Phone (337) 363-2792Fax (337) 363-3049
332 West Sixth AvenueObertin, LA 70655Phone (337) 639-4737Fax (337) 639-4568
1013MainStree!Franklin. LA 7053E
Phone (337) 828-0272Fax (337) 82W129C
133 East Waddil SiMarksvilleLA71351
Phone (318) 253-9252Fax (318) 253-8681
621 Main StreelPinevitte. LA7136C
Phone (318) 442-4421Fax (318) 442-9832
WEBSFTE;WWW. KCSRCPAS.COM
Mr. Richard Lavergne, Superintendentand Members of the St Martin ParishSchool Board
St. Martinville, Louisiana
Compliance
We have audited the compliance of the St. Martin Parish School Board with the types ofcompliance requirements described in the U. S. Office of Management and Budget (OMB) CircularA-133 Compliance Supplement that are applicable to each of its major federal programs for the yearended June 30, 2008. The St. Martin Parish School Board's major federal programs are identified in thesummary 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 itsmajor federal programs is the responsibility of the St. Martin Parish School Board's management. Ourresponsibility is to express an opinion on the St. Martin Parish School Board's compliance based on ouraudit.
We conducted our audit of compliance in accordance with auditing standards generally acceptedin the United States of America; the standards applicable to financial audits contained in GovernmentAuditing 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 CircularA-133 require that we plan and perform the audit to obtain reasonable assurance about whethernoncompliance with the types of compliance requirements referred to above that could have a direct andmaterial effect on a major federal program occurred. An audit includes examining, on a test basis,evidence about the St. Martin Parish School Board's compliance with those requirements and performingsuch other procedures as we considered necessary in the circumstances. We believe that our auditprovides a reasonable basis for our opinion. Our audit does not provide a legal determination of the St.Martin Parish School Board's compliance with those requirements.
Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLIC ACCOUNTANTS
52Member of:
SOCIETY OF LOUISIANACERTIFIED PUBLIC ACCOUNTANTS
In our opinion, the St. Martin Parish School Board complied, in all material respects, with therequirements referred to above that are applicable to each of its major federal programs for the yearended June 30, 2008.
Internal Control Over Compliance
The management of the St. Martin Parish School Board is responsible for establishing andmaintaining effective internal control over compliance with the requirements of laws, regulations,contracts, and grants applicable to federal programs. In planning and performing our audit, we consideredthe St. Martin Parish School Board's internal control over compliance with the requirements that couldhave a direct and material effect on a major federal program in order to determine our auditingprocedures for the purpose of expressing our opinion on compliance, but not for the purpose ofexpressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do notexpress an opinion on the effectiveness of the St. Martin Parish School Board's internal control overcompliance.
A control deficiency in an entity's internal control over compliance exists when the design oroperation of a control does not allow management or employees, in the normal course of performing theirassigned functions, to prevent or detect noncompliance with a type of compliance requirement of afederal program on a timely basis. A significant deficiency is a control deficiency, or a combination ofcontrol deficiencies, that adversely affects the School Board's ability to administer a federal programsuch that there is more than a remote likelihood that noncompliance with a type of compliancerequirement of a federal program that is more than inconsequential wil l not be prevented or detected bythe School Board's internal control.
A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that material noncompliance with a type of compliancerequirement of a federal program will not be prevented or detected by the School Board's internalcontrol.
Our consideration of internal control over compliance was for the limited purpose described inthe first paragraph of this section and would not necessarily identify all deficiencies in internal controlthat might be significant deficiencies or material weaknesses. We did not identify any deficiencies ininternal control over compliance that we consider to be material weaknesses, as defined above.
53
This report is intended solely for the information and use of management, others within theentity, Board Members, and federal awarding agencies and pass-through entities and is not intended to beand should not be used by anyone other than these specified parties. Although the intended use of thisreport may be limited, under Louisiana Revised Statute 24:513, this report is distributed by theLegislative Auditor as a public document.
Kolder, Champagne, Slaven & Company, LLCCertified Public Accountants
Breaux Bridge, LouisianaNovember 14,2008
54
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Notes to Schedule of Expenditures of Federal AwardsFor the Year Ended June 30, 2008
0) Genera]
The accompanying Schedule of Expenditures of Federal Awards presents the activity ofall federal financial assistance programs of the St. Martin Parish School Board (the SchoolBoard). The School Board reporting entity is defined in Note 1 to the basic financial statementsfor the year ended June 30, 2008. All federal financial assistance received directly from federalagencies is included on the schedule as well as federal financial assistance passed through othergovernment agencies. The major programs are identified with an asterisk (*) on the schedule.
(2) Basis of Accounting
The accompanying Schedule of Expenditures of Federal Awards is presented using themodified accrual basis of accounting, which is described in Note 1 to the School Board's basicfinancial statements for the year ended June 30, 2008.
(3) Relationship to Fund Financial Statements
Federal financial assistance revenues are reported in the School Board's fund financialstatements as follows:
From federal sources:Special Revenue Funds $10,346,991
(4) Relationship to Federal Financial Reports
Amounts reported in the Schedule of Expenditures of Federal Awards agree with theamounts reported in the related federal financial reports.
55
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ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Schedule of Findings, Questioned Costs andManagement's Corrective Action Plan
For the Year Ended June 30, 2008
Parti: Summary of Auditor's Results:
1. An unqualified report was issued on the financial statements.
2. No significant deficiencies were disclosed by the audit of the financialstatements.
3. Material noncompliance was not disclosed.
4. No significant deficiencies in internal control over the major programs weredisclosed by the audit of the financial statements.
5. An unqualified opinion was issued on compliance for the major programs.
6. The audit disclosed no audit findings required to be reported under Section510(a) of Circular A-133.
7. The major programs were:U.S. Department of Education: Title I Grants to Local Educational AgenciesU.S. Department of Education: Improving Teacher Quality State Grants - Titlen
8. The dollar threshold used to distinguish between Type A and Type B programs,as described in Section 520(b) of Circular A-133 was $310,410.
9. The auditee qualified as a low-risk auditee under Section 530 of Circular A-133.
Part II: Findings which are required to be reported in accordance with generallyaccepted governmental auditing standards:
There are no findings at June 30, 2008.
Part ffl: Findings and questioned costs for Federal awards which include audit findings asdefined in Section 510(a) of Circular A-133:
There are no findings at June 30, 2008.
Part IV: Management Letter Items:
There are no management letter items at June 30,2008.
58
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
Summary Schedule of Prior Audit FindingsFor the Year Ended June 30, 2008
Section I: Findings which are required to be reported in accordance with generallyaccepted governmental auditing standards:
There were no findings at June 30, 2007.
Section It: Findings and questioned costs for Federal awards which include audit findings asdefined in Section SlOfal of Circular A-133:
' There were no findings at June 30, 2007.
Section ffl: Management Letter Items:
There were no management letter items at June 30, 2007.
59
SCHEDULES REQUIRED BY STATE LAW
(R.S. 24:514 - PERFORMANCE AND STATISTICAL DATA)
60
C. Burton Kofder, CPA*Russell F. Champagne, CPA*Victor R. Slaven, CPA*P. Troy Courvilte, CPA*Gerald A. Thibodesux, Jr.,CPA*Robert S. Carter, CPA*Arthur R. Mtxon, CPA"
Tynes E. Mixon, Jr., CPAAlien J. LaBry, CPAAJbert R. Leper, CPA.PFS.CSA*Penny Angelle Souggins, CPAChristine L Cousin, CPAMary T. Thtbodeaux, CPAMarshall W. Guidry. CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Mete, CPAKelly MDoucet, CPACheryl L Bartley. CPA, CVAMandy B. Seff, CPAPaul L. Delcambre, Jr. CPAWanda F. Arcernent, CPAKristin B. Dauzat, CPARichard R, Anderson ST., CPACarolyn C. Anderson, CPA
KOLDER, CHAMPAGNE, SLAVEN & COMPANY,CERTIFIED PUBLIC ACCOUNTANTS
P.O. Box 250Breaux Bridge, LA 70517
Phone (337) 332-4020Fax (337) 332-2867
LLC
OFFICES
Retired:Conrad 0. Chapman, CPA" 2006Harry J. Closbo. CPA 2007
AGREED-UPON PROCEDURES REPORTON SCHOOL BOARD PERFORMANCE MEASURES
183 South Beadle Rd.Lafayette, LA 70508Phone (337) 232-4141Fax (337) 232-8660
113 East Bridge StBreaux Bridge, LA 70517Phone (337) 332-4020Fax (337) 332-2867
1234 David Dr. Ste 203Morgan City, LA 70380Phone (985) 3&4-2020Fax (985) 384-3020
408 West Cotton StreetVilte Platte, LA 70586Phone (337) 363-2792Fax (337) 363-3049
332 West Sixth AvenueOberlin, LA70G55Phone (337) 639-4737Fax (337) 639-4568
450 East Main StreeNew Iberia, LA 7059
Phone (337} 367-920*Fax (337) 367-92K
200 South Main StreeAbbeville, LA 70511
Phone (337) 893-794Fax (337) 893-7941
1013 Main StreeFranklin, LA 7053I
Phone (337) 828-027:Fax (337) 82B-029I
133 East Waddtl SIMarksvilteLA7135-
Phone (318)253-925:Fax (318) 253-868
621 Main StreePinevilte, LA 71361
Phone (318) 442-442'Fax (318) 442-983:
WEBSFTE;WWW. KCSRCPAS. COM
* A Professional Accomting Cotpocutton
Mr. Richard Lavergne, Superintendentand Members of the St. Martin ParishSchool Board
St. Martinville, Louisiana
We have performed the procedures included in the Louisiana Governmental Audit Guide and enumeratedbelow, which were agreed to by the management of the St Martin Parish School Board and theLegislative Auditor, State of Louisiana, solely to assist users in evaluating management's assertionsabout the performance and statistical data accompanying the annual financial statements of the St. MartinParish School Board and to determine whether the specified schedules are free of obvious errors andomissions as provided by the Board of Elementary and Secondary Education (BESE) Bulletin. Thisagreed-upon procedures engagement was performed in accordance with standards established by theAmerican Institute of Certified Public Accountants. The sufficiency of these procedures is solely theresponsibility of the specified users of the report. Consequently, we make no representation regardingthe sufficiency of the procedures described below either for the purpose for which this report has beenrequested or for any other purpose.
Our procedures and findings relate to the accompanying schedules of supplemental information and areas follows:
General Fund Instructional and Support Expenditures and Certain Local Revenue Sources (Schedule 1)
1. We selected a random sample of 25 transactions and reviewed supporting documentation todetermine if the sampled expenditures/revenues are classified correctly and are reported in the properamounts for each of the following amounts reported on the schedule:
• Total General Fund Instructional Expenditures,
• Total General Fund Equipment Expenditures,
• Total Local Taxation Revenue,
• Total Local Earnings on Investment in Real Property,
Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLC ACCOUNTANTS
61Member of
SOCIETY OF LOUISIANACERTIFIED PUBLIC ACCOUNTANTS
• Total State Revenue in Lieu of Taxes,
• Nonpublic Textbook Revenue, and
• Nonpublic Transportation Revenue.
There were no exceptions noted.
Education Levels of Public School Staff f Schedule 2)
2. We reconciled the total number of full-time classroom teachers per the schedule "Experience ofPublic Principals and Full-time Classroom Teachers" (Schedule 4) to the combined total number offull-time classroom teachers per this schedule and to school board supporting payroll records as ofOctober 1st.
There were no exceptions noted.
3. We reconciled the combined total of principals and assistant principals per the schedule "Experienceof Public Principals and Full-time Classroom Teachers" (Schedule 4) to the combined total ofprincipals and assistant principals per this schedule.
There were no exceptions noted.
4. We obtained a list of full-time teachers, principals, and assistant principals by classification as ofOctober 1st and as reported on the schedule. We traced a random sample of 25 teachers to theindividual's personnel file and determined if the individual's education level was properly classifiedon the schedule.
There were no exceptions noted.
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 theschools and grade levels as reported on the Title 1 Grants to Local Educational Agencies (CFDA84.010) application and/or the National School Lunch Program (CFDA 10.555) application.
There were no exceptions noted.
Experience of Public Principals, Assistant Principals, and Full-time Classroom Teachers (Schedule 4)
6. We obtained a list of full-time teachers, principals, and assistant principals by classification as ofOctober 1 and as reported on the schedule and traced the same sample used in procedure 4 to theindividual's personnel file and determined if the individual's experience was properly classified onthe schedule.
There were no exceptions noted.
62
Public Staff Data: Average Salaries (Schedule 5)
7. We obtained a list of all classroom teachers including their base salary, extra compensation, andROTC or rehired retiree status as well as full-time equivalent as reported on the schedule and traceda random sample of 25 teachers to the individual's personnel file and determined if the individual'ssalary, extra compensation, and full-time equivalents were properly included on the schedule.
There were no exceptions noted.
8. We recalculated the average salaries and full-time equivalents reported in the schedule.
There were no exceptions noted.
Class Size Characteristics (Schedule 6)
9. We obtained a list of classes by school, school type, and class size as reported on the schedule andreconciled school type classifications to Schedule 3 data, as obtained in procedure 5. We then traceda random sample of 10 classes to the October 1st roll books for those classes and determined if theclass was properly classified on the schedule.
There were no exceptions noted.
Louisiana Educational Assessment Program (LEAP) (Schedule 7)
10. We obtained test scores as provided by the testing authority and reconciled scores as reported by thetesting authority to scores reported in the schedule by St. Martin Parish School Board.
There were no exceptions noted.
Graduation Exit Examination (GEE) (Schedule 8)
11. We obtained test scores as provided by the testing authority and reconciled scores as reported by thetesting authority to scores reported in the schedule by St. Martin Parish School Board.
There were no exceptions noted.
/LEAP Tests (Schedule 9^
12. We obtained test scores as provided by the testing authority and reconciled scores as reported by thetesting authority to scores reported in the schedule by St. Martin Parish School Board.
There were no exceptions noted.
63
We were not engaged to, and did not, perform an examination, the objective of which would be theexpression 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 havebeen reported to you.
This report is intended solely for the use of management of St. Martin Parish School Board, theLouisiana Department of Education, the Louisiana Legislature, and the Legislative Auditor, State ofLouisiana, and should not be used by those who have not agreed to the procedures and takenresponsibility for the sufficiency of the procedures for their purposes. Under Louisiana Revised Statue24:513, this report is distributed by the Legislative Auditor as a public document.
Kolder, Champagne, Sloven & Company, LLCCertified Public Accountants
Breaux Bridge, LouisianaNovember 14,2008
64
Schedule 1
ST. MARTIN PARISH SCHOOL BOARDSt. Martinvilie, Louisiana
General Fund Instructional and Support Expendituresand Certain Local Revenue Sources
For the Year Ended June 30, 2008
General Fund Instructional and Equipment ExpendituresGeneral Fund Instructional Expenditures:Teacher and Student Interaction Activities:
Classroom Teacher Salaries $ 22,205,816Other Instructional Staff Activities 2,784,988Employee Benefits 8,073,691Purchased Professional and Technical Services 253,277Instructional Materials and Supplies 1,447,934Instructional Equipment 4,317
Total Teacher and Student Interaction Activities 34,770,023
Other Instructional Activities 268,203
Pupil Support Activities 2,132,812Less: Equipment for Pupil Support Activities -
Net Pupil Support Activities 2,132,812
Instructional Staff Services 2,680,421Less: Equipment for Instructional Staff Services -
Net Instructional Staff Services 2,680,421
School Administration 3,622,803Less: Equipment for School Administration (1,520)
Net School Administration 3,621,283
Total General Fund Instructional Expenditures $ 43,472,742
Total General Fund Equipment Expenditures $ 57,488
Certain Local Revenue SourcesLocal Taxation Revenue:
Constitutional Ad Valorem Taxes $ 460,071Renewable Ad Valorem Tax 1,758,648Debt Service Ad Valorem Tax 3,515,658Up to 1 % of Collections by the Sheriff on Taxes Other than School Taxes 183,351Sales and Use Taxes 12,101,536
Total Local Taxation Revenue $ 18,019,264
Local Earnings on Investment in Real Property:Earnings from 16th Section Property $ 637,267Earnings from Other Real Property ^_
Total Local Earnings on Investment in Real Property $ 637,267
State Revenue in Lieu of Taxes:Revenue Sharing - Constitutional Tax $ 68,814Revenue Sharing - Other Taxes 177,498Revenue Sharing - Excess Portion 37,431Other Revenue in Lieu of Taxes -
Total State Revenue in Lieu of Taxes S 283,743
Nonpublic Textbook Revenue S 35^033
Nonpublic Transportation Revenue S 99,038
65
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ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
The Integrated Louisiana Educational Assessment Programs Tests
For the Year Ended June 30, 2008
Schedule 9
/LEAP Tests
District Achievement LevelStudents
Grade 3AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
English Language Arts
2008Number
2085
31913753
614
Percent
3%14%52%22%
9%
2007Number
2112831210742
610
Percent
3%21%51%18%7%
2006Number
2711730413058
636
Percent
4%18%48%20%9%
Mathematics
2008Number
5810329810154
Percent
9%17%49%16%9%
614
2007Number
61157262
8248
Percent
10%26%43%13%8%
610
2006Number
4912330011648
Percent
8%19%47%18%8%
636
District Achievement LevelStudents
Grade 3AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
Science
2008Number
2266
30016957
Percent
4%11%49%28%
9%614
2007Number
1494
27518739
Percent
2%15%45%31%
6%609
2006Number I Percent
30 5%64 10%
294 46%198 31%50 8%
636
Social Studies
2008Number
1789
30713368
Percent
3%14%50%22%11%
614
2007Number I Percent
5 1%127 21%297 49%118 19%61 10%
608
2006Number
3179
31515655
Percent
5%12%50%25%
9%636
District Achievement LevelStudents
Grade 5AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
English Language Arts2008
Number
1555
24416893
575
Percent
3%10%42%29%16%
2007Number
1149
220179169628
Percent
2%8%
35%29%27%
2006Number
561
232180109587
Percent
1%10%40%31%19%
Mathematics2008
Number
2170
256126103
Percent
4%12%44%22%18%
576
2007Number
2245
241139181
Percent
4%7%
38%22%29%
628
2006Number
1653
249134135
Percent
3%9%
42%23%23%
587
District Achievement LevelStudents
Grade 5Advanced
MasteryBasicApproaching BasicUnsatisfactory
Total
Science2008
Number
1452
214184111
Percent
2%9%
37%32%19%
575
2007Number
540
202235146
Percent
1%6%
32%37%23%
628
2006Number
444
202227110
Percent
1%7%
34%39%19%
587
Social Studies2008
Number
661
258139111
Percent
1%11%45%24%19%
575
2007Number
639
243176164
Percent
1%6%
39%28%26%
628
2006Number
421
219180163
Percent
1%4%
37%31%28%
587
(Continued)
73
ST. MARTIN PARISH SCHOOL BOARDSt. MartinviHe, Louisiana
The Integrated Louisiana Educational Assessment Programs Tests (continued)For the Year Ended June 30, 2008
/ LEAP Tests
District Achievement LevelStudents
Grade 6AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
English Language Arts2008
Number
1148
27617996
610
Percent
2%8%
45%29%J6%
2007Number
848
28217783
598
Percent
1%8%
47%30%14%
2006Number
1288
26914555
569
Percent
2%15%47%25%10%
Mathematics
2008Number
2146
287129127
Percent
3%8%
47%21%21%
610
2007Number
1753
28114]106
Percent
3%9%
47%24%18%
598
2006Number
1272
30011669
Percent
2%13%53%20%12%
569
District Achievement LevelStudents
Grade 6AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
Science2008
Number I Percent
6 1%44 7%
241 40%226 37%
93 15%
610
2007Number
444
252208
90
Percent
1%7%
42%35%15%
598
2006Number
753
25418174
Percent
1%9%
45%32%13%
569
Social Studies2008
Number
331
239182155
Percent
0%5%
39%30%25%
610
2007Number
818
257196119
Percent
1%3%
43%33%20%
598
2006Number
1229
269157102
Percent
2%5%
47%28%18%
569
District Achievement LevelStudents
Grade 7AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
English Language Arts2008
Number
955
242199102607
Percent
1%9%
40%33%17%
2007 __,Number
1351
25119098
603
Percent
2%8%
42%32%16%
2006Number
1761
25518989
611
Percent
3%10%42%31%15%
Mathematics2008
Number
622
227163187
Percent
1%4%
38%27%31%
605
2007Number
542
262165129
Percent
1%7%
43%27%21%
603
2006Number
636
255174140
Percent
1%6%
42%28%23%
611
District Achievement LevelStudents
Grade 7AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
Science2008
Number
329
203235136
Percent
0%5%
33%39%22%
606
2007Number
243
209200148
Percent
0%7%
35%33%25%
602
2006Number
241
198214154
Percent
0%7%
33%35%25%
609
Social Studies2008
Number
122
217176190
Percent
0%4%
36%29%31%
606
2007Number
236
228184153
Percent
0%6%
38%31%25%
603
2006Number
220
274165148
Percent
0%3%
45%27%24%
609
(Continued)
74
ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana
The Integrated Louisiana Educational Assessment Programs Tests (continued)For the Year Ended June 30, 2008
/LEAP Tests
District Achievement LevelStudents
Grade 9AdvancedMasteryBasicApproaching BasicUnsatisfactory
Total
English Language Arts2008
Number
130
27719349
550
Percent
0%5%
50%35%9%
2007Number
450
289226
71
640
Percent
1%8%
45%35%11%
2006Number
239
267222
84
614
Percent
0%6%
43%36%14%
Mathematics2008
Number
926
28313498
Percent
2%5%
51%24%18%
550
2007Number
1459
285149133
Percent
2%9%
45%23%21%
640
2006Number
1335
266146156
Percent
2%6%
43%24%25%
616
75