SEP 10 im - lla.state.la.us · StatementofRevenues, Expenditures, and Changes in Fund E • 13...

STATE OF LOUISIANA CADDO LEVEE DISTRICT nNANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30,2014

Under provisions of state law, this report is a public document. Acopy of the report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office of the Legislative Auditor and, where appropriate, at the office of the parish clerk of court

SEP 10 im Release Date

STATE OF LOUISIANA CADDO LEVEE DISTRICT

TABLE OF CONTENTS JUNE 30,2014

EXHIBIT SCHEDULE PAGE

Independent Auditors Report - - 1-2

Management's Discussion and Analysis • • 3-7

B^ic Financial'Statements; • - 8

Statement of Net Position A - 9

Statement of Activities B - 10

Balance Sheet - Governmental Fund C - 11

Reconciliation of the Governmental Funds Balance Sheet to D - 12 the Statement of Net Position

StatementofRevenues, Expenditures, and Changes in Fund E • 13 Balances — Governmental Funds

Reconciliation of the Statement of Revenues, Expenditures, F - 14 and Chmges In Fund Balances to the Statement of Activities'

Notes to the Financial Statements - - 15-27

Supplemental Schedules: - - 28

Schedule of Per Diem Paid Board . Members • 1 29

Schedule of State Funding - 2 30

Schedule of ̂ venues. Expenditures, and Changes in Fund - 3 31 Balances of Govemmental Funds - Budget (GAAP) Basis and Actual

Schedule of Funding Progress for OPEB Plan - 4 32

Report on Internal Control Over Financial Reporting and on - 5 33 • Compliance and Other Mattery Based on an Audit of

Financial Statements Performed in Accordance with Government Auditing Standards

Schedule of Findings and Questioned Costs - 6 34

Required Supplementary Information - 35 Division of Administration Reporting Package

Broussard & Comi Certified Public Accountants

i ' '

Board of Commissioners Caddo Levee District Shreveport, Louisiana

INDEPENDENT AUDITOR'S REPORT

Report piiithe Financial Statements

We have audited the accompanying financial statements of the governmental activities and the major fund of Caddo Levee District (the District) ̂ of and for the year ended June 30,2014, and therelated| notes to the financial statements, which collectively comprise.the District!s basic financial statements as listed in the table of contents.

Management *s Responsibility for the Financial Statements

Manageraentris responsible for the preparation and fair presentation of these,financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design,, implementation, and maintenance of internal control relevant to the preparation an^^d fair presentation of fmahcial statements that are ê from material misstatement, whether due to fraud or error.

Auditor's Raponsibility

Our responsibility |s to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards ^plicable to financial audits contained in Government Auditing Standards, \siutd by the Comptroller -General of the United States. Those standards require that we:plan and perform the audit to'obtaih treasonable assurance about whether the financial smtements are free from material misstatement:

^ audit involves performing procedures to obtain audit evidence about the amourits and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to designsaudit procedures that are appropriate in the circumstances, but not fonthe purpose of expressing an opinion on the effectiveness of the entity's Internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness>of significant accounting estimates made by mahageriient, as well as evaluating the overall presentation of the âncial'Statemeiits.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions

In our opinion, the financia! statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and the major fund of the Caddo Levee District,'as of June 30, .2014, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Other Matters

Required Supplementary Information

Accounting principles generaliyaccepted in the United States of America>require that the mmageinent's discussion and analysis on pages 3-7 and other supplementary information on pages 29-32, • respectively, be presented to supplement the basic fmancial statements as well as the Division of Administration Reporting Package starting on page 35. Such information, although not a part of the bîc financial statements, is required by the,Governmental Accounting Standards Board, who considers it to be an essential part of financial reportingTor placing the basic financial statemeiits in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary inforrnation in accordance with auditing standards generally.accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic

One Lakeside Plaza, 127 West Broad Street, Suite 800, Lake Charles. LA 70601

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

financial statements, and other knowledge we obtained during pur audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited>prociedufes do notiprovide us with sufficient evidence to express an opinion or provide any assurance.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards^ we have also issued our report dated August 29, 2014, on our consideration of the District's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreemerits and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on intern^ control over i^ancial repoi^g or on compliance. That report is an integral part of ̂ audit performed in accordance vnih Government Auditing Standards in considering the.Caddo Levee District's internal coiitrol over financial reporting and compliance.

Lake Charles, Louisiana August 29,2014

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA)

MANAGEMENT'S DISCUSSION AND ANALYSIS AS OF JUNE 30,2014

Management's Discussion and Analysis of the Caddo Levee District (District)'s (BTA) financial performance presents a narrative overview and analysis of the District's (BTA) financial activities for the year ended June 30, 2014. This document focuses on the current year's activities, resulting changes, and currently known facts in comparison with the prior year's information. Please read this document in conjunction with the additional information contained in the transmittal letter and the District's (BTA) financial statements.

FINANCIAL HIGHLIGHTS

* The District's (BTA) assets exceeded its liabilities at the close of fiscal year 2014 by $36,590,483, which represents a 1.4% increase from last fiscal year.

* The District's (BTA) revenue decreased $365,167 (or 8.9%) and the net results from activities decreased by $1,372,419 (or 73.5%).

OVERVIEW OF THE FINANCIAL STATEMENTS

The following graphic illustrates the minimum requirements for Special Purpose Governments Engaged in Business-Type Activities established by Governmental Accounting Standards Board Statement 34, Basic Financial Sfatements—and Management's Discussion and Analysis—for State and Local Governments.

Management's Discussion and Analysis,

• ^r^Basic.Finaricial.Stateme^^ \

Required Supplementary Information • ' (other than MD8^)

These financial statements consist of three sections • Management's Discussion and Analysis (this section), the Basic Financial Statements (including the notes to the financial statements), and Required Supplementary Information.

Basic Financial Statements

The annual report consists of a series of financial statements. The Statement of Net Position and the Statement of Activities on pages 9-10 provide information about the activities of the Caddo Levee District as a whole and present a longer-term view of the District's finances. These statements include all assets and liabilities using the accrual


MANAGEMENT'S DISCUSSION AND ANALYSIS AS OF JUNE 30, 2014

basis of accounting, which is similar to the accounting used by most private-sector companies. AH of the current year's revenues and expenses are taken into account regardless of when cash is received or paid.

The Statement of Net Assets and the Statement of Activities report the District's net assets and changes in them. You can think of the District's net assets, the difference between assets and liabilities, as one way to measure the District's financial health, or financial position. Over time, increases or decreases in the District's net assets are one indicator of whether its financial health is improving or deteriorating.

Fund financial statements start on page 11. All of the District's basic services are reported in govenunental funds, which focus on how much money flows into and out of those funds and the balances left at year end that are available for spending. These funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental fund statements provided a detailed short-term view of the District's general government operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance the District's activities as well as what remains for future spending.

FINANCIAL ANALYSIS OF THE ENTITY

Statement ofNet Assets as of June 30,2014

(in thousands)

•/i

• Current and other assets

.CapiWlassets

Total assets

Other liabilities

. Lbng-termdebt outstanding

Total liabilities

'Net assets:-. ' • W '• '.^Invested in capital assets, net ofdebt

.''j>

I'l Restricied ' • 'Designated '

"Undesignated

Total net assets

2014

Total

33,235

4,062

37,297

707

707

4,062

23,000

9,528

36,590

2013

32,675

"4,224

36,899

803

803

. 4,224

1.W4

: 23,000

7.828

36,096

.. t

, - J

I-.'-

STATE OF LOUISIANA

CADDO LEVEE DISTRICT (BTA) MANAGEMENT'S DISCUSSION AND ANALYSIS

AS OF JUNE 30, 2014

Nel assets of the District (BTA) increased by $494,725, or 1.4%, from June 30, 2013 to June 30, 2014. The primary

reason is due to the oil and gas leases payments made in the current fiscal year 2014.

Statement of Revenues, Ejqjcnscs, and Changes in Fund Net Assets for the ycais ended June 30, 2014

(in thousands) ' - I

c J • »'/

I -

Total

h'- 2013 •2013

; '-t

•'r.i

Gcherai revenues • General'government cjqpenses

•I

. • • ' • Operating income(loss)

Non-operating revenues • N6h"-operating'expenscs

' - " ' *Incomc(16ss)bcfore transfers

Transfers in Transfers out

3,750 3055

495

495

•4,115 2,248

•1.867-

1,867

• • t 1

J '

Net incrcase(decrcosc) in net asse'ts"

CAPITAL ASSET AND DEBT ADMINISTRATION

Capital Assets

495 1,867

At the end of fiscal year ended June 30, 2014, the District (BTA) had $4,061,803 invested in a broad range of capital assets (see accompanying table). This amount represents a net decrease (including additions and deductions) of $ 162,213, or 3.8, over last year.


MANAGEMENT'S DISCUSSION AND ANALYSIS AS OF JUNE 30, 2014

y' ' - •

'' ' ' * * <. -V 1

Gflj)rtel>Ass;eti5 '

.'2014 ^ . 2Q13_

.•4 •" -.S .V •

. Labd! ^ . .'"'V t 1,707 '$ 1.707

Buildings and'lrnpro vcmeriti^. xv ' • - . ' - 1,379 1.416

Eq,ciiuncn.t • •" - .

' J '

1 " 975 i.IOT Eq,ciiuncn.t • •" - .

' J ' "^Totals '$ , \06X ^ 4,224

Debt

The District (BTA) had $568,610 in long-tenn liabilities at year-end, compared to $525,487 thousand last year, an increase of 7.6% as shown in the accompanying table.

t • • Outeta'rtcfi^gPeljJ'a'tYeacTCod "(ib-tbbuaaiuB)

- . •2014 20J3 -

Coriônsfit^d'absenccs. paâblo dPEb payable .'1..

S '' 28 •541

$ 31 . 494

Coriônsfit^d'absenccs. paâblo dPEb payable .'1..

Totals $ -- , 569 S\ . , 6^

'i T 1 1 -'

VARIATIONS BETWEEN ORIGINAL AND FINAL BUDGETS

Revenues were appro.ximately $2.7 million over budget and expenditures were less than budget due in part to new oil and gas leases and the District not using the amounts budgeted for emergency construction and repairs.

ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES

The District's (BTA) elected and appointed officials considered the following factors and indicators when setting

next year's budget, rales, and fees: • Ad valorem taxes • Interest income • Oil and gas royalties • Projects under consvuction

STATE OF LOUISIANA GADDO LEVEE DISTRICT (BTA)

MANAGEMENT'S DISCUSSION AND ANALYSIS AS OF JUNE 30,2014

CONTACTING THE DISTRICT'S (BTA) MANAGEMENT

This financial'report, is designed to provide our citizens, taxpayers, customers, and investors'and creditors with a general overview of the District's (BTA) finances and to show the District's (BTA) accountability for the money it receives. If you have'Questions about this report or need additional financial infonnation, . contact Ali Mustapha, Administrator, Post Office Box 78282, Shreveport, Louisiana 71137-8282.

BASIC FINANCIAL STATEMENTS

STATE OF LOUISIANA CADDO LEVEE DIStWCT

STATEMENT OF NET POSITION AS OF JUNE 30, 2014

EXHIBIT A

ASSETS Current Ass^

Cash and cash equivalents Accounts receivable Prepaid expen&es

Total current assets

Restricted Assets Cash and cash equivalents Investments

Total restricted assets

Noncurrent Assets ' Capital assets, net of accumulated depreciation:

Land Buildings and improv^ents Automobiles and equipment

Total capital assets, net

Levee certification, net , Total noncurrent assets

TOTAL ASSETS

LUBILITIES AND NET POSITION Current'Liabilities

Accounts payable and accrued expenses Unearned revenues Current portion of long-term liabilities:

Conipensated absence Total current liabilities

Loiig-.tenh Liabilities Compensated absences OPEB payable

Total long-term liabilities

Total liabilities

Net Position Invested in capital assets Unrestrict^

Total net assets

TOTAL LIABILITIES AND NET POSITION

s .8,609,506 272,780

5,810 8,888,096

11,000,000 12,000,000 23,000,000

1,706,986 1,379,211 . 975,607 4.061.804

1.347.518 5,409.322

S 37^97,418

$ 37,003 62,340

38,982 138,325

28,273 540,337 568,610

706,935

4,061,801 32,528,680 36,590,483

S 37^97,418

The accompanying notes are an integral part of this financial statement.

STATE OF LOUISIANA CADDO LEVEE DISTIUCT

STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30,2014

EXHIBIT B

General Government •Expenses

Charges for Services

Operating Grants and

Contributions

Capital Grants and

Contributions

GeneralRevenues: Taxes Interest income Royalties and surface leases Sale of timber Oil and gas leases Miscellaneous

Total General Revenues

CHANGE IN NET ASSETS

NET POSITION, BEGINNING OF YEAR

NET POSITION, END OF YEAR

Net (Expense) Revenue and Changes in Net Assets

Personal services $ 1,000,906 S $ $ $ (1,000,906) Travel, 18,981 - - (18,981) Operating services 533,784 - - (533,784) Supplies 101,469 - - (101,469) Professional services 262,505 - - (262,505) Capital projects 952,409 - - (952,409) Depreciationy Amortization 385,422 - - (385;422)

Total General Government $ 3,255,476 s $ $ S (3,255.476)

1,019 129,787

2,193,158 45^066

1,342; 102 39,069

3,750,201

494,725

36.095,758

S 36,590,483


10

EXHiBrrG STATE OF LOUISIANA

CADDO LEVEE DISTRICT BALANCE SHEET - GOVERNMENTAL FUND

AS OF JUNE 30,2014

ASSETS Cash and cash equivalents $ 8,609,506 Restricted asset - cash and cash equivalents 11,0(^,000 Restricted asset - investments 12,000,000 Accounts receivable 272,780

TOTAL ASSETS $ 31,882,286

LIABILITIES AND FUND BALANCES Liabilities

Accounts payable and accrued expenses $ 37,003 Unearned revenues 62,340

Total Liabilities 99,343

Fund Balances Conunitted to:

Capital outlay 16,000,000 Flood fight contingencies 7,000,000

Unassigned 8,782,943 Total Fund Balance 31,782^943

TOTAL LIABILITIES AND FUND BALANCE $ 31,882,286

The accompanying notes are an'integral part of this financial statement.

11

EXHIBIT D STATE OF LOUISIANA

CADDO LEVEE DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET

TO THE STATEMENT OF NET ASSETS AS OF JUNE 30,2014

Total Fund Bailees for Govemmental Funds (Exhibit C)

Total net assets reported for governmental activities in the statement of net assets is different because:

The non-allocation method of accounting for prepayments is used in the fund statements, since the prepayment does not provide expend^le financial resources.

Capital and other assets used in govemmental activities are. not financial resources and therefore are not reported in the fimds. Those assets consist of;

$ 31,782,943

5,810

Land Buildings and building improvements, net of $290;385 in

accumulated depreciation Automobiles and equipment, net of $L366,830 in

accumulated depreciation Levee certification, net of $207,311 in accumulated

Amortization Total Capital and Other Assets

Long-term liabilities, including compensated absences payable and post-employment benefits payable are not due and payable in the current period and therefore are not reported in' the fund liabilities.

Total Net Assets of Govemmental Activities (Exhibit A)

1,706,986

1,379,211

975;606

1;347,519 5,409,322

(607,592)

$ 36,590,483


12

EXHIBIT E STATE OF LOUISIANA

CADDO LEVEE DISTRICT STATEMENT OF REVENXjES, EXPjENDITURES, AND CHANGES IN FUND BALANCES -

GOVERNMENTAL FUND FOR THE YEAR ENDED JUNE 30,2014

REVENUES Taxes Interest income Royalties and surface leases Sale of timber Oil and gas le^es Miscellaneous

1,019 129,787

2; 19^ 158 45,066

1,342,102 39,069

Total Revenues 3,750,201

EXPENDITURES Genera] government

Personal services Travel Operating services Supplies Professional services Capital projects

Capiki outlay and.levee certification

958,299 18,981

.533,998 101,469 262,505 952,409 67,727

Total Expenditures

EXCESS (DEEICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES

2,895388

854,813

FUND BALANCE, BEGINNING OF YEAR

FUND BALANCE, END OF YEAR

30,928,130

31,782,943


13

EXHIBIT. F STATE OF LOUISIANA

CADDO LEVEE DISTRICT RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN

FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITES FOR THE YEAR ENDED JUNE 30,2014

Net Change in Fund Balances-Total Governmental Funds (Exhibit E) $ 854,813

The change ini net assets reported forgovemmental activities in the statement of activiti^ is different because:

Governmental funds report ct^ital outlays as expenditures; However, in the statement of activities the cost of those assets is allocated over^itheir.estimated usefiil lives and reported as depreciation and amortization expense. This is the amount by which payments for depreciation and amortization ($385,422) exceeds capital outlay ($67,727) In the cuirent period. (317,695)

The nonrallocation method of accounting for prepayments is used in the fund statements, since the prepayment does.not provide expendable fmancial resources. 214

Some expenses reported in die statement of activities, suchtas compensated absences and post-employment benefits payable, do not require the use of current financial resources and therefore are not reported as expenditures in government^ funds. (42,607)

Total Change in Net Assets of Governmental Activities (Exhibit B) $ 494,725


14


NOTES TO THE FINANCIAL STATEMENTS FOR TM YEAR ENDED JUNE 30,2014

INTRODUCTION

The Caddo Levee District, a component unit of the State of Louisiana, was created by the Louisiana Slate Legislature under the provisions of Louisiana Revised Statute 38:291 (c). The Caddo Levee Di^ct iis domiciled in Shreveport, Louiriâ and was,created ;for the primary purpose of maintaining and operating the levee-systeihs along the Tight descending bank of Red River, as well as the levee systems of Twelve Mile Bayou and Black Bayou. The Caddo Levee District insures the integrity of the levee system throughout the year and during times of emergency, responds with trained personnel and the necessary equipment to provide protection of lives and property. The Board of Commissioners administers the operations and responribilities .of the. Levee District:in accordance, with the provisions of Louisiana statute. The seven members of the Board of Commissioners which governs the District are appointed by the governor of the State of Louisiana.

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Caddo Levee District's financial statements are prepared in conformity with governmental accounting principles generally accepted in the United States of America (GAAP). The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and finwcial reporting principles. Theâccomp^ying basic financial statements have been prepared in conformity with GASB Statement 34, Basic Financial Statements-and Management's Discussion and Andfysis-for State and Local Governments, issued in June 1999. The more significant accounting policies established in GAAP and used by the Caddo Levee District are discussed below.

1. Reporting Entity

GASB Codification Section 2100 has defmed the governmental reporting entity to be the State of Louisiana. The Levee District is considered a component unit of the State of Louisiana because the state exercises oversight responsibility in that the governor appoints the board members and can impose his will on the distrirt. The accompanying general purpose fmancial'statements contain information only,as.to the tiâctioni of the Caddo Levee District. Annually, the State of Louisiana issues general purpose fmancial statements, which include the activity contained in the accompanying financial statements.

2. Basic Financial Statements - Government-Wide Statements

The District's basic fmancial statements include both govemment-wide (reportihg the funds maintained by the District as a whole) and fund fmwcial statements (reporting the District's>major funds). Both the government-wide and fiind^ financial statements categorize primary activities as either governmental or business type. The District's general fund is clasrified as governmental activities.

In the goveinment-wide statement of Net Position, the governmental activities column is presented on a cotublidated basis and is reported on a full accrual, economic resource basis, which.recognizes all long-term assets and receivables. The District's net assets are reported in two parts-invested in capital assets and unrestricted net assets.

Hie government-wide Statement of Activities reports both the gross and.net cost of each, of the District's functions. The.functions are also supported by general government revenues. The Statement of Activities reduces gross expenses (including depreciation) by related program revenues, which must be directly associated with the function. The net costs (by function) are normally, covered by genera! revenue.

15


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30,2014

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

lîs govemment-wide focus is more on the sustaioability of the District as an entity and the chwge in the District's net assets from the current year's activities.

3. Basic Financial Statements- Fund Financial Statements

The financial transactions of the District are recorded in individual fimds in the fiind Randal stetements. Each fimd is accounted for by providing a sqiarate set of self-balancing accounts that comprises its assets, liabilities, reserves,^d equity,^revenues and dcpenditures. The various funds are reported by generic classification within the financial statements.

The following fund types are used by the District:

1. Governmental Funds - the focus of the governmental funds' measurement (in the fund statements) upon determination of flnancial position .and changes in financial position (sources, uses, and balances of financial resources) rather than upon net income. The following is'a description of the governmental funds of the. District:

a. General fimds ê the general opdating fimds of the District. They are used to account for all financial resources except those required to be accounted for by another fund.

4. Basis of Accounting

Bîs of accounting refers to when revenues and expenses are recognized and reported in die financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.

1. Accrual ~ The governmental activities in the govenunent-wide financial statements are presented on the accrual basiiof accounting. Revenues are recognized when earned and'expenses are recognized when incurred.

2. Modified Accrual -VtiQ governmental funds financial statements are, presented oh ̂ e modifled accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual; i.e., both measurable and available. "Available" means coll^tible within the cuitent period or within 60 days after year end. Expenditures are generally recognized under the modified accrual basis of accounting when the related liability is incurred. Tlie exception to this general rule is that principal wd interest on general obligation long-term debt, if any, is recognized when due.

5. Budgetary Accountihg

Formal budgetary accounting is employed,as a-management control. The District prepares and adopts a budget prior to July 1 of each yearTor its general fund in accordance with Louisiana Revised Statutes. The operating budget is prepared based on prior year's revenues and expenditures and the estimated increase therein for the current year, using the modified accrual basis of accoimting. The District amends its budget when projected revenues are expected to be less than budgeted revenues by five percent or more and/or projected expenditures are expected to be more than budgeted amounts by five percent or more. All budget appropriations lapse at year end.

16


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2014


1. The budget^, process is an annua! appropriation valid for one year. 2. Hie agency is prohibited by statute from over expending the categories establishediin the budget. 3. Budget revisions are granted by the Joint Legislative Budget Committee, a committee of the Louisiana

Legislature.. Interim emergency appropriations may be'granted by the Interim Emergency Board. 4. The budgetaiy information included in the financial statements includes the original appropriation

with no amendments.

6. Cash and Gash Equivalents

The District defines cash wd cash equivalents as follows;

Cash - includes not only currency on hand but also demand deposits with banks or other fin^cial institutions and other kinds of accounts that have the.general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may wididraw funds at an time without prior notice or penalty.

Cash equivalents - include all short-teiin, highly liquid investments:that are readily convertible to known amounts of cash and are so near their maturity that they present insignificant risk of changes in vajue because of interest rates. Generally, only investments which, at the day of purchase, have a maturity date no longer than three months qualify under this definition.

7. Receivables

All receivables are reported at their gross value and, where applicable, are reduced by the estimated portion that is expected to be.uncollectible:

8. Bad Debts .

Uncollectible accounts receivable are.recognized as bad debts through the establishment of^ allowance account at the time information becomes available which would indicate the uncollectibillty of the particular receivable. At June 30, 2013, there were no amounts considered to be uncbllectibie.

9. Capital Assets

Capital assets ve cari'ied at historical costs. Depreciation of all exhaustible .fixed assets used by the. District is-ch^ged as an expense,against operations in the Statements of Activities. Capitaf^assets net.of accumulated depreciation are reported oh the statement of Net Assets. Depreciation is computed using the straight-line method aver the use^l lives of the assets, generally lO^to 45 years for building and building improvements and 3 to 10 years for movable property. Expenditures for maintenance, repairs, and minor renewals are charged to earnings as incurred. Major expenditures for renewal and betterments are capitalized. The District's policy is to capitalize items with a unit cost of S1,000 of greater. In accordance with Office of Statewide Reporting and Accounting Policy (OSRAP) guidelines, infrastructure assets are to be capitalized and depreciated over a useful life of 40 years.

OSRAP has set a threshold for infrastructure assets are to be capitalized at $3,000,000 spent per entity per year. The Caddo Levee District did not have expenditures relating to infinstructure assets which met this threshold. Therefore, no infrastructure.assets are recognized in the accompanying financial statements.

17


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30.2014


10. Compensated Absences

District employees, both classified and unclassified, earn annual and sick leave at.various rates depending on the number of ye^ in service. The amount of annual and sick leave th^ may be accumulated by each ernployee is .unlimited. Upon-determinôn, an employee is compensatedTor up to 300-hours of unused annual leave at the einployee's hourly rate of pay afthe time of termination. Upon retirement, the number of hours of unused sick leave is computed and considered in computing the years of service for retirement benefit pulses.

The current portion of compensated absences payable (the amount estiinated to be used during the period of availability) is recorded as a liability in the fiind financial statement. The entire balance of compensated absences payable is recognized as a liability ih -the^govemment-fWide financial statements. Tbe non-current portion represents a reconciling item between the fimd and government-wide statements..

.11. Estimates ^

The prep^tion of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that'affect the reported amounts of assets and liabilities wd disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

12. Long-Term Obligations

In the govemment-wide financial statements, debt principal payments of government activities are reported as decreases in the-bânce of the liability on the statement of net assets. In the fund financial statements, however,.debt principal payrnents of governmental funds are recognized as expenditures when paid. The District recognizes other postremployment benefits liability in the-government-wide fin^cial statements based on actuarially-dêrmined.obligations under GASB No. 45.

13. Fund Balance - Governmental Funds'

The Caddo Levee District elected to implement GASB 54, Fund Balance Reporting and Governmental Fund Type Definitions, in fiscal year 2011. In the fimd financial sbtem^ts, fund balance for the governmental flinds are classifie'd as follows;

Nonspendable - amounts that cannot be spent either because they are in nonspendable form or because they ,are legally, or contractually required to be maintained intact.

Restricted - amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation or because of constraints that are externally imposed by ordinances or resolutions approved by the Board of the District.

Committed - amounts that can be used only for specific pu^pses determined by a formal action of the Bovd. Coinrnitments may be established, modified, or rescinded only through ordinances or resolutions approved by .the.Boafd of the District.

Unassigned~ all other spendable amounts.

18


NOTES TO THE FINANCI^ STATEI^NTS FOR THE YEAR ENDED JUNE 30, 2014


As of JuDe 30, 2014, fund balances are composed of the following:

Governmental Cat^bry Fund

Committed to: Capita] outlay $ 16,000,000 Flood fi^t contingencies 7,000,000

Unassigned 8,782,943

Total fund balance $ 31,782,943 14. Recent Accounting Pronouncements

In March 2012, the OASB issued Statement No. 65, Item Previously Reported as. Assets and Liabilities. This Statement is effective for fuiancial statements-for years beginning ^er December IS, 2012. Tliis Statement established accounting and financi^ reporting stahdvds'that reclassify as deferred outflows of resources or deferred inflows of resources. certain items that were previously reported as assets'^d liabilities and recognizes, as outflows of resources or inflows of resources, certain hems that were previously reported'^ assets or liabilities. This Statement also provides other financial reporting guidance related to the impact of-the financial statements elements deferred outflows of resources and deferred inflows of resources, such as ch^ges in ^e :determination of the major fund calculations and limiting the use of the term deferred in financial ^tement presentations.

The adoption of GASB Statement No. 63 in the current year had no significant impact on the fmancial statements. The adoption of GASB Statement No. 65 in the current year had no significant-impact on the financial statements.

NOTE B - CASH AND CASH EQUIVALENTS

At Juhe;30,2014, the Caddo Levee.District had cash and cash equivalents (book balances) totaling $19,609,506 as detailed as follows:

1. Cash and Cash Eauivaients

Cash and Cash equivalents at June 30,2014 (book balances) totaled $19,609,506. These deposits are stated at costs, which approximates maritet Under state law, these deposit' (or the resulting book balances) must

19



NOTE B - CASH AND CASH EQUIVALENTS (CONTINUED)

be secured by federal deposit insurance or the pledge of securities owned by tbe^fiscal agent bank. The market value of the pledged securities plus the federal deposit insurance must at all times equal the amount on deposit with the fiscal agent. At June 30,2014, the District had:$19,6Sl,655 in deposits (collected bank balances) that were insured by the Federal Deposit Insurance Corporation and collateralized with securities held by the pledging institutions trust department or its agent.

2. Credit Risk

Custodial credit risk is the risk that in the event of a bank failure^ the government's deposit may not be returned to it. The bank balances of deposits exposed to custodial.credit risk are as follows;

Cash

Depprits per statement of net position

Deposits in bank account per bank

Bank balance of deposits exposed to custodid credit risk: Uninsured and collateralized with securities held by the pledging institution's trust department or.agent but not in entity's name

$ 19,609,506

19,651,655

$ 19,151,655

NOTE C - INVESTMENTS

The Caddo Levee District does maintain investment accounts as authorized by LSA-RS 33:2955.

Investments can be exposed to-custodial credit risk if the securities underlying the investment are uninsured, not registered in the name of the entity, and are either held by the cqimterparty orthe counterparty's trust.department or agent, but not in the entity's.name. Repurcha^ agreements are not subject to credit risk if die securities underlying the repurchase agreement are. exempt from credit risk disclosure. The following investments^ are uninsured, unregistered and held by counterparty's trust department or agent not in the entity's name.

Type of-Investment

Negotiable CD's; Iberia Bank Iberia-Bank F irst Guaranty. Batik Total Negotiable CD's

Reported Amount per Statement of Net Assets

$ 5,000,000 5,000,000 2,000,000

Fair Value

$ 5,000,000 5,000,000 2,006,000

Maturity Date

05/21/2015 05/21/2015 il/26/2014

Interest Rate

0.35% 0.55% 1.00%

S 12,000,000 $ 12,000,000

20



NOTE D - ACCOUNTS RECEIVABLE

The following is a summary of accounts receivable at June 30,2014:

Class of Receivable

Royalties and le^es Interest

Total accounts receivable

237,364 35.416

272,780

NOTE E - RESTRICTED ASSETS

A board resolution was made at the March 14, 2013 board meeting that designated assets of $16,000,000 for the capita] outlay and assets of $7,000,000 for flood fight contingencies for the fiscal ye^ ended June 30, 2014. Investments of:$12,000,000 and c^h and cash equivalents of $I 1,000,000 were restricted at June 30,2014.

NOTE F - CAPITAL ASSETS

A summary of Caddo Levee District's capital assets at June 30,2014 follows:

Balance June 30,2013 Additions Retirements

Balance June 30,2014 .

Non-depreciable: Land Construction in progress

$ 1,706,986. $ $ $ 1,706,986

Total Non-depreciable, 1,706,986 - - 1,706,986

Depreciable: Buildings and improvements Warehouse Less accumulated'depreciatioii

919,005 750,591

(253,649) (36,736) •

919,005 750,591

(290,385) To^ buildin^^aod improvements

1,415,947 (36,736) • 1,379,21 ]•

Movable equipment Le'ssaccumulated depreciation

2,301,035 (1,199.952)

67,727 (193^203)

(26,325) 26,325

2,342.437 (1.366,830)

Total movable equipment 1,101,083 (125,476) -0- 975,607

Total Depreciable 2,517,030 (162,212) -0- 2,354,818

Total Capital Assets, net $ 4,224,016 $ (162,212) $ -0- S 4,061.804

Depreciation expense for the year ended June 30,2014 was $229,939.

21



NOTE G - ACCOUNTS PAYABLE

The following is a summary of accounts payable at June 30,2014:

Class of Payable

General

Total accounts payable

$ 37,003

$ 37,003

NOTE H - UNEARNED REVENUES

Deferred revenues as of June 30,2014 consisted of S62,340 in prepaid rental amounts associated with surface leases.

NOTE 1 - LONG-TERM LI ABILITIES

The following is a summary of long-term debt transactions of the entity for the year ended June 30,2014:

Beginning Balance Additions Reductions

Ending Balances

Amounts Due Witliin One Year

Compensated Absences OPEB Payable

$ 70,532 494,453

$ 35,705 88,900

$ (38i982) (43,016)

$ 67^255 540,337

$ 38,982

564,985 124,605 (8i;998) 607,592 38,982

Total long-term liabilities, government-wide statements $ 607,592 $ 38,982

NOTE J - RETIREMENT-SYSTEM

Substantially, all of 'the. employees of the Caddo Levee District are members of the Louisiana State Employees Retirement System.(LASERS), a single employer defined benefit pension-plan. The System is a statewide public employeeTetirement system (PERS) for the benefit of state employees, which is administered and controlled'by a separate bo^d of trustees.

All fiill^time'CaddoLevee District einployees are eligible to participate in the System unless they elecfto contmue as a contributing member in any other retirement system for which they remain eligible for membership. Certain elected officios and officials appointed by the governor may, at their option, become members of.LASE^. Normal benefits vest: with 10 years of service. Generally, retirement age employees are entitled to annual benefits equal to $300 plus 2.5% of their highest consecutive 36 months' average salary multiplied by their years of credited service except for members eligible to begin participation in the Defined Benefit Pl^ (DBF) on or after July 1, 2006. Act 75'Of the 2005 Regular Session changes retirement eligibility and final average compensation for members who are

22

STATE OF LOUISIANA CADDO LEVEE DISTOCT


NOTE J - RETIREMENT SYSTEM (CONTINUED)

eligible to begin participation in the DBF beginning July 1,2006.' Retirement eligibility for these members is limited to age 60, or thereafter, upon attainment of teii years creditable service. Final average compensation will be based on the membef'S average annual earned compensation for the highest 60 consecutive months of employment

Vested employees eligible to begin participation in the DBF before July 1,2006, are entitled to a retirement benefit, payable monthly for ||fe (a) any age with 30 years of service, (b) age'55 with 25 years of service, or (c) age 60 witii 10 years of service. In addition, these vested employees have the option of reduced benefits at any age with 20 years of service. Those hired on or.after July 1,2006 have only one single age option. They, cannot retire until age 60 with a minimum of lOy^s of service.

Tbe Systepi also provides death and disability benefits and deferred benefit options, with qualific^ons and founts defined by statute. Benefits are established or amended by state statute. The System issues an annual publicly available financial report that includes financial statements and required supplementary information for die System. For a fiill description of the LASERS defined benefit plan, please refer to the LASERS 200.8'Fmancial.Statements, specifically, footnotes A - Flan Description C - Contributions. That report may be obtained by writing to the Louisiana State Employees Retirement System, Fost Office Box 44213, Baton Rouge, Louisiana 70804-4213, or by calling (225) 922-0608 or (800) -256r3000. The footnotes to the Financial Statements contain additional details and is also available online at:

http://iasers.websitegadget.com/uploads/LASERS 2010 CAFR.Ddf

Members hired before July 1,;^2006 and after July 1, 2006, are required by state to contribute with tbersingle largest group ("re^larmembers") contributing 8.0% of^oss salary, and the District is required to contribute at ah actuarially determined rate as required by R.S. 11:102. The contribution rates for the fiscal years ending June 30, 2014, 2013, and 2012 were 22.0%, 22.5%, and 22.0%, respectively. The District's contributions to the system for the years ending June 30, 2014, 2013, and 2012 were $159,959, $147,069, and S135;456, respectively, which are the required contributions for each year.

NOTE K - EMPLOYEE BENEFITS - OTHER POST EMPLOYMENT BENEFITS

The District may provide certain continuing health care and life insurance benefits for its retired employees through the.Louisiana Officeof Group Benefits. Substantially all employees become eligible for those'benetits if they reach normal retirement age while working for the District and were covered by the District's active medical plan immediately prior to retirement. Those benefits include joint payment of monthly premiums for the coverage provided.

Plan Description. The State of Louisiana's Gther-Fost-Employment Benefit Plan (OPEB Plan) is an agent multiple-employer plan administered by the Louisiana Office of Group Benefits. (0GB). There are three plans aymlable to eligible retirees for health csue - 0GB Preferred Provider Organization (PPO), Huraaria Healtii Maintenance Organization (HMO) and United Exclusive Provider Organi^tion (EPO). P^cipants eligible for Medicare coverage can choose one of two OGB Medicare Advantage Plans, either an HM or private fee-for-service (PFFS)

23



NOTE K - EMPLOYEE BENEFITS - OTHER POST EMPLOYMENT BENEFITS (CONTINUED)

plan. Life insurance benefits include basic term life, basic plus supplemental term life, dependent tenn life and employee accidental death and dismemberment coverage. The policy is underwritten by The Prudential Insurance Company of America.

LRS 42;801-883 provides for the authority under which beneiit provisions are established and may be amended. The 0GB does^not issue a stand-alone report; however it is included in the Louisiwa Comprehensive Ahhiial Financial Report (CAFR). The CAFR;may be obtained from the Office of Statewide Reporting and Accounting Policy's website at. www .doa. la. gov/osrap. writing to P.O. Box 94095, Baton Rouge, LA 70804-9095 of by calling. 225-342-0708.

Funding Policy. LRS 42:801-883 provides for the authority under which the obligations of the pl^ members and the system are established and may be amended. For employees hired prior to January 1, 2002, the cost of coverage is shared 25% by the.participant and 75% by the Board with the exception of single retirees under age 65. H^she must pay 25% of the active employee cost. Employees hired on or after January 1, 2002, pay a percentage of the totel contribution rate based on his/her years of service at retirement (under lOyrs. - 81%; 10-14 yrs. - 62%; 15-19yrs. -44%; 20+ yrs.-25%). A lifetirrie maximum fdrhealthc^e benefits is set at $5,000,000 for the PPO, HMO, and EPO plants. The retiree pays 50% of the life insurance premiums for hiin or herself and 88% for his/her spouse. Maximum coverage is capped at $50,000.

Premiums paid for healthcare coverage vary depending on'the plM chosen. For the year endedJune 30, 20i4, this' amount ranges $341 to $375 ,per month for single members with Medic^ or $1,016 to $1,152 per month without Medicare.

Preniiums paid for retiree and spouse range from $1,218 to $1,384 per month for those with Medicare or S1,783 to $2,034 per month for those without Medicare. The rates for retirees with children are slightly higher than the single rates and family coverage is slightly higher than the retiree/spouse rates. The plan is currently financed on a pay-as-you-go basis by the Board.

OPEB Cost/Obligation. The.District's Annual Required Contribution (ARC) is an amount actuarially in accordance with GASB 45. The ARC represents a level of funding that, if paid on ah ongoing basis, would cover normal cost each.year, and amortize any unfunded actuarial liabilities over a period not to exceed thirty years. A level percentage of payroll amortization.method, open period, was used. The total ARC for the.year beginning July 1, 2013, is as follows on,the next page:

24



NOTE K - EMPLOYEE BENEFITS - OTHER POST EMPLOYMENT BENEFITS (CONTINUED)

Annual OPEB Expense and Net OPEB Obligation

Fiscal Year Ending

Net OPEB Obligation at June 30,2014

Annual'Required Contribution Interest on.Net OPEB Obligation ARC Adjustment

Annual OPEB Expense

Contributions made

Net OPEB Obligation at June 30,2014

Percentage of Annual OPEB Cost Contributed

6/30/2014

$ 494,453

69,100 19,800

(18,900)

70.000

(24,116)

S 540.337

34.45%

Funding Status-and Funding. Progress. As of June 30, 2014, the District had not made any contributions to its post-employment benefits plan trust. A trust was established during the current year but was not funded. Thus, it ho plan assets and a funding ratio of zero. Funding status and progress is'summarized below:

Actuarial accrued liability (AAL) Actuarial value of plan assets Unfunded actuarial accrued liability (UAAL) Funded ratio (actuarial value of plw assets/AAL) Covered payroll (annu^ payroll of active employees covered by the plan) UAAL as a percentage of covered payroll

$ -929,900

'S' 929,900 0%

393,400 236%.

Actuarial.Methods and. Assumptions. Actuarial valuations of an ongoing'plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about fiihife employment, mortality and healthcare cost h'end. Amounts determined regarding the funded ^tus of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past:expectations and new estimates are made about the future; The schedule of funding process, presented as required supplementary information following the notes to the fmancial staterhents, presents multiyear trend information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits.

Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and plan members) ^d include the types of benefits;provided at.the time of each valuation and the historical pattern of sharing of'benefit costs between die employer and the plan members to that point llie actuarial methods and assumptions used include techniques that are designed to reduce short-term volatility in actu^al accnied.liabilities consistent with the long-term perspective of the calculations.

25


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30,2014 .

NOTE K - EWLOYEE BENEFITS - OTHER POST EMPLOYMENT BENEFITS (CONTINUED)

In the July I, 2013, actuarial valuation, the projected unit credit actuarial cost mediod was used. The actuarial assumptions included a 4.0. percent Invespnent rate of return (net of administrative expenses) and initial annual healthcare cost trend rate of 8;0% arid 6.0% for pre-Medicare and Medicare ejjgibles, respectivelyi scaling down to ultimate rates of 4.5% per year. The District's unfunded actuarial accrued liability.is being amortized as a level percentage of payroll on an open basis. The remaining amortization period at June 30,2014, was thirty years.

NOTE L - NET POSITION

A board resolution was made at the Much 14, 2013 board meeting that designated a portion ofthe District's unrestricted net position for 516^000,000 for the capital outlay and for $7,000,000 for flood fight cpn^gencies'for the fiscal year-ended June 30,-2014.

NOTE M - RISK MANAGEMENT

The Caddo Levee District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The District maintains commercial insurance coverage covering each of those risks of loss. Management believes such coverage is sufficient to preclude ariy.significant uninsured losses to the District.

NOTE N - LEVEE DISTRICT TAXES

Article 6, Section 39 of the Louisiana Constitution of 1974 provides that; for the purpose; of constnictmg wd maintaining levees, levee drainage, flood protection, hurricane flood protection, and for all other purposes incidental thereto, the levee district may annually levy a lax not to exceed 3.64 mills. If the levee district need to rc^e additional funds in excess of the amount collected constitutionally, the taxes in excess of 3.64 mills must be approved by the majority of the vote of the electors. Ad vaiorem .taxes . are assessed on a calendar year basis, become due on November 15 of each year, and become delinquent on December 31. The taxes are generally collected in December of the current year and January of the ensuing year. The current millage rate is 0.

NOTE b - DEFERRED COMPENSATION PLAN

During 2002, the District began participating in a deferred compensation plan in accordance widi the Internal Revenue Code 457 (Section.457 Plan). Under Governmental Accounting Stwdards Board No. 32, Accounting and Financial Reportihg:for Internal Revemte Code Section 457 De/erred'Compensation Plans, plans that,meet-the criteria in NCGA Statement l„Govemmental Accounting and Financial Reporting Principles, should be reported as an expendable tmst fimd in.the financial statements of the government. Because the District's Section 457 Plan does not meet these criteria, the balances in assets and liabilities were not presented In the financial statements of the District. The District's contribution to the Section 457 Plan was $24,414 for the year.ended June 30,2014.

NOTE P - SURFACE LEASE RENTALS

The District h^:entered.into^seyeral surface lease rental agreements which provide/rental income to the District. Payments on these leases are due annually. Leases are cancelable at any time by either party to die lease. Rental income for the year ended June 30,2014 was $130,926.

26



NOTE Q - SUBSEQUENT EVENTS

These financial statements considered subsequent events throu^ August 29,2014, the. date the financial statements were available to be issued.

NOTE R - LEVEE CERTIFICATION

As a result of Hurricane Katrina, the Federal Emergency Management Agency (FEh^) implemented a program in which all levees in.the United States must be certified by an independent ̂ gineer to remain on its mapping system. If the certification is not'performed then the levee is removed from FEMA's maps and the impacted area is considered a flood prone area which results in. significantly higher flood insur^ce rates for business and individuals. Management had its engineering study completed in March 2013. The total amounts expended on the certiricatiori as of June 30^ 2013 totafSl,554,830. The certification is good for the next 10 years. The total amount expended was capitalized,and is being aniortized using straight line method over the next ten years. Amortiation expense for the year ended June 30,2014 was $155,483.

27

SUPPLEMENTAL SCHEDULES

28

SCHEDULE 1 STATE OF LOUISUNA

CADDO LEVEE DiSTRICT SCHEDULE OF PER DIEM PAID BOA^ MEMBERS


Commissioners 2014

Patrick Harrison $ 2,700

Kandi Moore 2,025

Gary Procell 1,500

James G; Sims 2,700

Carolyn C. Prator 2,325

Helen Godfrey Smith 1,650

Willie Walker 1,125

Total $ 14,025

The schedule of compensation paid board members was prepared in compliance with House Concurrent Resolution No. 54 of the 1979 Session of the Louisi^a Legislature. PCT Diem payments are authorized by Louisiana Revised Sta^e 38:308 and are included in the personal services expenses. ^Board members are-^d $75 per day to. a maximum of'36 days per year for board meeting and/or official business. Hie board president may receive compensation not to exceed SUOOO per month in lieu of per diem.

29

SCHEDULE 2 STATE OF LOUISIANA

CADDO LEVEE DISTRICT SCHEDULE OF STATE FUNDING


Description of Funding

State Revenue Sharing $ -0-

30

SCHEDULES STATE OF LOUISIANA

CADDO LEVEE DISTRICT SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES

OF GOVERNMENTAL FUNDS - BUDGET (GAAP) BASIS AW ACTUAL FORTHE YEAR ENDED JUNE 30,2014

Budget -Original and Final Actual

Variance Fav/(Unfav)

REVENUES Taxes $ 20,000 S 1,019 $ (18,981)

.Royalties 700,000 2,193,158 1,493,158

Timber 50,000 45,066 (4,934)

Surface lease rentals 125,000 130,926 5,926

Interest income 100,000 129,787 29,787

Other 50,000 1^50,245 1,200,245

Total Revenues 1,045^000 3,750,201 2i705;201

EXPENDITURES

GenerarGovemment

Personal services 970,900 958,299 12,601

Travel 30,000 18,981 11,019

Operating services 926,000 533,998 392,002

Supplies 800,000 101,469 698,531

Professional services 405,000 262,505 142,495

Capital projects - 952,409 (952,409)

Capital outlay and levee maintenance 24.670;000 67;727 24,602,273

T otal Expenditures 27,801,900 2,895,388 24,906,512

EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (26,756,900) 854,813 27,611,713

FUND BALANCE/BEGINNING OF YEAR 27,658,702 30,928,130 3,269,428

FUND BALANCE, END OF YEAR $ 901,802 $ 31,782,943 $ 30,881,141

31


CADDO LEVEE DISTRICT SCHEDULE OF FUNDING PROGRESS FOR OPEB PLAN


The schedule of funding progress presents multiyear trend information that shows whether the actuarial value of plan assets is increasing or decreeing over time relative to the actuarial accrued liabilities for benefits.

Actuarial Accrued Liability UAAL as a

Actuarial. (AAL) Unfunded Percentage Actuarial Value of Project AAL Funded Covered of Covered Valuation. Assets Unit Cost (UAAL) Ratio Payroll Payroll

Date (a) (b) (b-a) (aA) (c) f(b-aVcl July 1,2013 $ 929,900 $ (929,900) 0% S 393,400 236% July 1,2012 - S 1,007,700 $(1,007,700). 0% $ 368,400 274% Jiily 1,2011 - $ 971;000 $ (971,000) 0% $ 452,300 215% July 1,2010 - $ 1,341,500 $(1,341,500) 0% S 454,400 295% July 1,2009 - S 1,690,600 $(1,690,600) 0% $ 441,400 383%

32

Broussard & Comi Certified Public Accountants

SCHEDULE 5

INDEPENDENT AXn)ITORS' REPORT ON INTERNAL CONTROL OVER FINANGUL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL

STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

Board of Gommissioners Caddo Levee District Shreveport, Louisiana

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activiti^ and the major fund.of Caddo Levee District (the.District), as of and for the year ended June 30, 2014, and the relaited notes to die financial statements, which collectively comprise the District's basic financial statements, and have issued our report thereon dated August 29, 2014.

Internal Control Over Financial Reporting

-In planning and performing our audit of the financial statements, we considered the.District's internal control over fmancial reporting (internal control) to deterrntneê audit procedures that are appropriate in the circumstances for the.purpose of expressing our opinions on the financial statements, but not for the piupose of expressing an opinion on the effectiveness.of the District's internal control. Accordingly, we do not express an opiniph on the effectiveness of the District's internal control.

A deficien0f in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assiêd functions, to prevent, or detect and correct, misstatements on. a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in intemal control, such that there is.a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those cWged.with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify aU deficiencies in'intemal control that might be materi^ weaknesses or, siîficant deficiencies. Given these limitations, during our audit we did not identity any deficiencies;in intemal control that we consider to be material weaknesses. However, material weaknesses may eTdst that have not been identified.

Compliance and Other Matters

As part of obtaining reasonabIe <assurahce about whether die District's financial statements are free from'material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, wd grant agreements, noncompliance with which could have a direct iuid material effect on the determination of financM statement amounts. However,-providing an opinion on compliance with those provisions was not an objective of our audit, wd accordingly, we do not . express such .an opinion. The results of our. tests, disclosed no instances of noncompliance or other matter that are required to be reported imder Government Auditing Standards.

Purpose of this Report

The. purpose of this report is solely to describe the scope of bur testing <of intemal control and compliance and the results of that testing, and not to provide an opinion on die effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Governm^t Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. )mer purpose. • , ^

Lake Charles, Louisiana August 29,2014

One Lakeside Plaza, 127 West Broad Street, '35' Suite 800, Lake Charles, LA 70601


CADDO LEVEE DISTRICT SCHEDULE OF FINDINGS AND QUESTIONED COSTS


A. SUMMARY OF AUIDTOR'S RESULTS

Financial Statements: Type of auditor's report issued; unqualified

Litemal cpntrol overfmancial reporting:. • Material weakness identified? yes X no • Significant deficiencies identified that are

not material wealcnesses yes X no • Noncompliance materia! to financial

statements noted? yes X no

34

REQUIRED SUPPLEMENTARY INFORMATION -DIVISION OF ADMINISTRATION REPORTING PAGKAGE

35

Caddo Levee District STATE OF LOUISIANA

Annual FinanciM Statements June 30,2014

CONTENTS

Affidavits Instructions forthe,Business-Type Activity AFR Packet... i Management's'Discussionand Analysis (MD&A) .iv

Statements

Statement of Net Position A

Statement of Revenues, Expenses, ^d Changes in Net Position B

Statement of Activities (including Instriictioris for Simplified Statement of Activities) C

Statement of Cash Flows P

Notes to the Financial Statements

Notes A. B. C.

D. E: F. G. H. I.

J. K. L. M. N. O. P.

Note Name Summary of Significant Accounting Policies Budgetaiy Accounting Deposits with Financial Institutions and Investments (See Appendices Packet - Appendix A at http://www.doa.louisiana.gbv/OSRAP/afrpackets.htmi Capital Assets - Including Capital Lease Assets inventories Restricted Assets Leave Retirement System Other Postemployment Benefits (See Appendices Packet - Appendix D at http://www.doa.louisiana.gov/C)SRAP/afipackets.htmi Leases Long-Term.Liabilities Contingent Liabilities RelatediP^y Transactions Accounting Changes InrKind Contributions Defeased Issues

PageNo. 1 2 2

10 10 11 11 II II II

Post Office Box-94095 • Baton Rouge, Loi i-ftnn-'ss4-qs4s • R

Q. Revenues or Receivables - Pledged or Sold (GASB 48) 11 (See Appendices Packet - Appendix E at http://wvAv.doa.louisiana,gov/OSRAP/afn)ackets.htinl

R. Government-Mandated Nonexchange Transactions (Grants) 11 S. Violations of Finance-Related Legal or Contractual Provisions 11 T. Short-Term Debt 11 U. Disaggregation of Receivable Balances 12 V. Disaggregation of Payable Balances 12 W. Subsequent Events 12 X. Segment Information 12 Y. Due to/Due from and Transfers 13 Z. Liabilities Payable from Restricted Assets 13 AA. Prior-Year Restatement of Net Position 13 BB. Assets Restricted by Enabling Legislation 13

(See Appendices Packet - Appendix G at httD://www.doa.louisiana.gov/OSRAP/afii)acketS;htm")

CC. Impairment of Capital Assets 13 (See Appendices Packet - Appendix B at http://www;doa.louisiana.gov/OSRAP/afrDackets.html

DD. Employee Termination Benefits 13 EE. Pollution Remediation Obligations 13 FF. American,Recoyeryand'Reinvestment Act (ARRA) 16 GG. Restricted Assets - Other Purposes 16 HH., Service Concession Arrangements 16 11. Nonexchange Financial Guarantees 16

Schedules 1 Schedule of Per Diem Paid to Board Members 2 Not Applicable 3 Schedules of Long-Term Debt 4 Schedules of Long-Term Debt Amortization 15 Schedule of Comparison Figures and,Instructions 16 Schedule of CooperativerEndeavors (see Appendices Packet - Appendix F at

httD://www.doa.louisiana.gov/QSRAP/afrpackets.htm)

The Appendices Packet is located as a separate packet on OSRAP's website at httD://www.doa.iouisianaigov/OSRAP/afrpackets.htm.

http://www.doa.louisiana.gov/QSRAP/afrpackets.htm

http://www.doa.iouisianaigov/OSRAP/afrpackets.htm

Schedule Number STATE OF LOUISIANA

Annual Financial Statement Fiscal Year Ended June 30,2014

Caddo Levee District P. 0. Box 78282 Shreveport> LA 71137-8282

(Agency Name & Mailing Address)

Division of Administration Office of Statewide Reporting

and Accounting Policy P. O. Box 94095 Baton Rouge, Louisiana 70804-9095

Physical Address: 1201 N. Third Street Glaibdme Building, 6^ Floor, Suite 6-130 Baton Rouge, Louisiana 70802

Legislative Auditor P. O. Box 94397 Baton Rouge, Louisiana 70804-9397

[email protected].

Physical Address: 1600 N. Third.Street Baton Rouge, Louisiana 70802

AFFIDAVIT

Personally came and appeared before the undersigned authoritv.AH M. Mn.gtapha. P. E.. AdmlnistiQtame)

(Title) of Cflddn Levee District (Agency) who duly sworn, deposes and says, that the financial

statements herewith given present fairly the fihancial position of Caddo Levee District (agency) at June

30, lA and the results of operations for the year then ended.in accordance with.policies and^ practices established

by the Division of Administration or in accordance with Generally Accepted Accounting Principles as prescribed

_ ii L, by the Governmental Accounting Standards Board. Sworn and subscribed before me, this day of

x/dt: 20 .

Prepared by: M I K£ DcfALCo

Title:

Telephone No.: 337^^ ^J?-

Date: ^^1/4

Y PUBLIC

GMTLYN BQi* Notary f^lfe CMdota^LouUana (4yGDniiil^tofdrUfe

NataiylDilt it9$

Email Address:

mailto:[email protected]

GENERAL INSTRUCTIONS FOR THE BUSINESS-TYPE ACTIVITY AFR PACKET

Please use the following matrix to determine if your entity should prepare the MD&A or the Statement of Activities.. To use the matrix, find your entity in the chart.(in alphabetical order by flmd type) then follow the "X" across. An "X" indicates that the applicable statement or schedule should be completed and included in your entity's AFR. If you ^e unable to locate your entity on the matrix, contact OSRAP for further ins^ctions.

Note: If your entity is identified as an internal service fimd on the matrix, do not complete Note J(2) Schedule B for LEAF Capital Leases. You should complete allother applicable sections of Note J.

BTA Miirii

FVE 6/30/2014

mmmm AditslKcOBBnlei Rii|ublaiyAuihoiK]r

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BoiidofEnnncn otNuiiiig FjeEti:i AdBfliiilralBn

BiBMufiUCkdiuy Rerelviij Fund

ChndnclE Esnren Bond

ChiB VAterSuiB Hcvohit| Fund

CiBi^Eh Fnoolbnind Ret egrch Bond

Oi iy kd la by P10 B 0 lb n B 0 • id

DonaU J T]iiiodeouiiTraiiii| Acadumy

DnUitag Walct Rsvotr'ng Loan F sod

FcdenlPiepeity'Aii ilia nee

LACeiiUlPratceiiaa ARcfiontbnFiuiiciigCoipDnlbii'

IxcruedPnfciibnalCoajuebn BeardbrEunnen

Loubbna A|ibnfairaiPbance AulKorby

loub bna Aobiil Welbre CoBatibn

Laubbna AKibocen Lbcni nt BoanI

Louaana BekavbialAna^l Board

Leuabna Board of Anil dec luralEa in iiun

Louabni Boast of Earn ben fbrSpcueli.LsnguagcPalliobniand Audbbgy

lausbna BoaiderEaDbcn b Dblalbi and Nutrtbn

LouabniBointofblecbiDciiincn

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Loubuna BondofPhamaey

Loubbni Boaida/Pnifeif analCcaieeniai

Loubbrti Board gfUAoktab Drug Dbrabolori

IdubbiuCitfahPnaeibnand Rcieaieb Board

MD&A !• " " -sv.r

StiieffleBl

SOA C

BTA Matrix

FYE 6/30/ 2014

Loubiana CemeteiyBoird

LdUBBRi Co mm unity and TechnkaiCoEkges System

Louiebnt GulTOpporlunilyZone Loan Fund

Louisana Licenjed ProresennalVocatknaJReKabiliiaiionCounselors Boird

Louiiani Physical The lipy Board

Louaana PrafesaionalEngineering Aland Surveying Board

Louiaboa Pro petty AssBtance Agency

Loubbna RealEstaie Apptabers State BoerdofCeniTeaibn

Loubani Real Estate Commbabn

Loubbna Rice Prornoibn Board

Loubbna Rbe Research Board

Loitbbna Soybean and Grain Research and Promotbn Board

Loubbna State Board for Heirbg Aid Dealen

Loubbna State Board of Demb try

Loubbna Stile Board orEleeinilyub Examineis

Loubbna State Board of Em balm era and F unemi Oeeelon

LoubbiiaSiaieBoardorExamben rorSanxaibna

loubbna Slate Board of Medbal Examineis

Loiibbna State'Board ofNursing

Loubbna State Board ofOpiomeiryEiamnert

Loubbna State Board of Practbat Nurse Ejambers

Loubbna State Board of Socb I Workers Earn bets

'Loubbna State Polygraph Board

Loubbna Strai^erty Marketbg Board

Loubbna Sweet Potato Advertsbg and Development Commbabn

Loubbna Tax Free ShoppbgCommssbo

Loubbna Tnnaponaibn Authority

PrbonEmerprbes

RidbbgicTeehnobgy Board of Earn mere

State Board of Certified Public Accountants of loud baa

State Board ofEamben of Psycho bgbts

Stale Board ofVete'riniiy Medkbe

State Boxbgind Wreslbig Commbabn

Unempbyment Trust Fund - loubbna Workforce Comrebibn.

Admbbtmive Services

Loubbna CorrectbnalFaeilitba Corpora tbn

Loubbna OfHce Buildbg Coiporxtbn

Office Faoibtbs Cotpdtxtbn

OfTce ofArcrifl Servkes

OfTse ofTekcommunicaibnsiManagemcnt

mmmm. oseBl.ObJli !i'i

Acadbni Area Human Servbea Dbtrkt

A^kis ParkCommbsbn

AaeenibnSt. James Airport and Trtns'poneibn Authority

Acchefab^ Basb Levee'Obtrkt'

Bayou D'Arbonne Lake Witetshad Dbtrkt

S iBlaiDCDl

-- • SOA MDAA:: c

X

X

X

X

X

X

X

X

i X

X

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1 • X ' X

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X J *r

X

X

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X

X

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11

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Bundle Bad Pnnoianaari:! • ^X- X

Caddo Levee DEtrie _ "X X

C^tal Aiea Huran Service Diarci ' X Cotral Loiuisia HUTHI Servie Atfhority •/'X X

EmestN. MDIIB) NewCMoa Ediilirian HalLAiihuriiy ; " x; • :X

Fftii Loisioa Lew Disnia X; • X FbiidaPvBbeHuim Saves Auha^ X Fdadation fir Badlace hLoislin Pifalc BioadaainB ., I • X

Gmd ble Lew Disoid •X -; • X GmKr Bum Roige Pot ComiBslai X" . X GRaferNewOiless Bqiiesw^Cannisidi X-' X Inpaiil Q beeu Hu net Service Aulvniy X Je&»n Parish Huran Sentee Aixhoriiy "'.X.'--: X Lafi(teAieaIndq>edax Leve DBOia •' X" - X Ldbmhe ban Leve Diarci X X loiisna BCcflidisByCounl X

LaCaca RescBrdiQittfofLSU KSC h NOTTdane HealdiSdeticsCtr X X Loiia'ms BuanlorCbsnctdo^ X

Loiiaina •tim Pre{cry trsirace Coporation X X Leuisei Ecoionc OevelrpiraS Copcncbn X X Laiisimi ^CoimaBian i ( X

lAiia'aia HosirgCorpiiaDon ' X X Laiiae* Loiay Cbtpaadon - X--' X Loiiaei Mour Vdicte CorniEsiai X Lcuiani RiUie Fadiiie Auhority X Louiama Sadimand Bqismai Disoia 'x'-,"; X Loiisni 9ae BoaidofBatt brvetsMsbaiirers X

. LoilamaSacBainlofn'âteSeortyEmuKR X Loiiaina UditieRestcratian Capontiai •'X." ; X MetrcfDiibnHiinBi Service Auhority .f. X Natdibcha Hiaoric bjarctDevdqmei CorinBSiai X NanhiDclES LevceandDransc District X' X Nbateenth Loiisana Lew Diitiia X . X NothBMsa Levee ad Dtahn^Diarbt

North Laibuche Gbisavatin Levee and DraiiaseDslrio X X ^dnsi Ddta HirraiServics AiChoriry X Ntrthwefl Laiaiare lîTBnSavicc Autlnrity '••'x X Oechiia Eif leswÂidsriiy *X X Paidveain Lew Disnici JXj •• X Red Rha Leve aid CbainagcDsiria X MRha, AldB&byaod BeyoiBtueflrwDlstria X Rd^ AdiaiiBliBtian Bbaid

?'x-:-- X Rc^ hbmeCcrporaiaid/VBLaiisaia LsdTnsi ?'x-:-- X SalineRiw /uthority X X SoiihCkitrel LoiiaeahkinwiServios Authority X Scuih Lafimdie Lew District X X Soidcei Lousiam Flood Protection Auliorty • East X • X Soudiasl LouaiaB Flmd Piotectirii Auticriy- Ufest Birik X X SmPkintiie BDadcriaiiaana ^ - X

' Tmas Basil tew District X. X TotdBine lew aidCoBavatiai Datria • X •••• X

MD&A- Man^BiiBf^ Dmsaon enl Ana]>sis

SQA(Q 'Sutsnen tfAcii\itia(Sei«imlC)

111

SIAIK OF LOUISIANA CADDO LEVEE DISTRICT (BTA) MANAGEMENT'S DISCUSSION AND ANXLVSIS AS OF JUNE 30,2014

Please refer to the Management's DiscussionAnalysis of the Caddo Levee District on pages 3 through 7 of the attached financial statements.

IV

M AlE U* LOUlbilAiNA

GADDO LEVEE DISTRICT (BTA) STATEMENT OF NET POSITION AS OF JUNE 30, 2014

&»tatement A

ASSETS CURRENT ASSETS

Cash and Cash equivalents Restricted Cash and Cash Equivalents Investment Derivative Instruments Receivables (net of allowMce for doubtfiil accounts)(Note U) Due fiom other funds (Note Y) Due from fedei^ government inventories Prepayments Notes Receivable Other Current Assets

Total current assets NONGURRENT,ASSETS

Restricted assets (Note F)i Cash ' Inveshnents Receivables

Investments Notes Receivable Captial assets, net of depreciation (Note D)

Land nonniepreciable easements Buildings and improvements Machinery and equipment infrastructure intangible assets Construct ion/Development-in-progress

Other noncurrent assets Total noncuirent assets

Total assets DEFEND OUTFLOWS OF RESOURCES

Accumulated decrease iii value of hedging derivatives Deferred ampuptsondebt.refunding Adjustmenb of capital lease obligatibds Grants paid prior to meeting time requirements Intra-entity transfer of future revenues'(transferee) Losses from sale-leaseback transactions Direct loan origination costs for mortgage loans held for sale Fees paid to permanent investors prior to sale of mortgage loans

Tot^ deferred outflow of resources Tbtal assesis and deferred outflow of resources

8,609,506

272,780

5,810

8.888.096

11,000,000 12,00^00

1,706,986 1,379,211

975,607

U47i518 28,409,322 37,297.418

37,297,418

LUBILITIES CURRENT LIABILITIES::

Accounts payable and accruals (Note V) Derivative instniment Due to other funds (Note Y) Due to federal government Unearned revenues Amounts held in custody for p^ers Other current iiabiiities

37003

62340

STATE OF LOUISIANA Statement A GADDO LEVEE DISTRICT (BTA) STATEMENT OF NET POSITION AS OF JUNE 30,2014

Liabilities Con't Ciment portion of,long-term liabilities: (Note K)

Contracts payable $ Compensated absences payable 38,982 Capital lease obligations Claims and litigation payable Notes payable Pollution remediation obligation Bonds payable (include unamortized costs) Other long-term.li^ilities

Total current liabilities I38;325 NONCURRENT.LIABILITIES

Contracts payable Compensated absences payable 28^273 Capitallease obiigations Claims and litigation payable Notes payable Pollution remediation obligation Bonds payable (include unamortized costs) OPEB payable 540.337 Other longrtcrm liabilities

total noncuitent liabilities 568,610 Total liabilities 706.935

DEFERRED INFLOWS OF RESOURCES Accurnulated increase in fair value of hedging derivatives $ Deferred amounts related.to service concession airargement ' Deferred amounts of debt refunding Adjustments of capital luse oblgations • Grants revived prior to meeting time requirements Property taxes received before the period of which the taxes were levied. Fines and penalties received in advance of meeting time requirements SaiM/intra:«ntity.transfer$ of future revenues (transferor), . Gains from sale-leaseback transactions Points received on loan origination Loan origination fees received for mortgage loans held for sale

Total deferred inflows of resources

NET POSITION Net inve^enl in capital assets 4,06l;803 Restricted for:

Capitd projects Debt rervice Unemployment compensation Other specific purposes

Unrestricted 32,528,680 Total net position 36.590|483

Total liabilities, deferred inflows of resources, and net position $ 37,297.418


STATE OF LOUISIANA Statement B CADDO LEVEE DISTRICT (BTA) STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION FOR THE YEAR ENDED JUNE 30,2014

OPERATING REVENUE Sales of ootnmodities and services S Assasments " Useofcnoneyand property Licenses, peitnils, and fees " Federal grants md contracts " StMe, local and nongovemmentd grants and contracts Other Total operating revenues -

OPERATING EVENS ES Personnel Services U000.906 Travd Ig.gffT Opo«ing Services 533,784 Supplies 10L469" Prof^slonal Services 262;505 " Capital Ejects 952,409 Depreciaiton/Amortizaiion 385,422" Totd bperating'eqjehses 3;25S.476

Operating income([oss) (3,255,476)

NONrOPERATlNG REVENUES (EXPENSES) TaxB 1,019 Intoest income 129,787 Royalttts and surface leas« ,2,193.1^8 Sale of timber 45,066 Oiiandgas'leues 1.342,10^ Miscellaneous 39,069 Total non-operatingrevenues(expenses) ^ 3,750,201

lncome(loss),before contributions, cxtrMrdiiiary items, & transfers 494,725

Capital contributions Extraordinary' item Transfers in Transfiis out

Change in net position 494,725

Total net position-begituitng. 36,095,758

Tbialnet position-ehdhg $ 36,590,483


INSTRUCTIONS FOR THE SIMPLIFIED STATEMENT OF ACTIVITIES

Expenses - include all expenses, both operating and non-operating.

Program.Revenues - include revenues derived from the program itself. These revenues reduce the net cost of the BTA's activities that must be financed from its general revenues. Program revenues should be reported in the following three categories:

Charges for services - include revenues based on exchange or exchange-like transactions. An exchange transaction is one in which each party receives ^d gives up essentiaUy equal values. These revenues arise from charges to customers or applicants who purchase, use, or directly benefit from the goods, services, or privileges provided. Revenues in this category include fees charged for specific services.

Operating grants and contributions • revenue arising from mandatory and voluntary nonexchange fransactions with other governments, organizations, or individuals'that are restricted foruse in a particular program and that may be used either for operating or capital expenses at the discretion of the BTA. (A non-exchange transaction is one in which an entity gives or receives value without directly receiving or?giving equal value in return.)

Capital grants and contributions - revenue arising from mandatory and voluntary nonexchange transactions with other governments, organizations, or individuals that are restricted for use in a particular program and that are restncted for capital, purposes only - to purchase, construct, or renovate capital assets associated with a specific program.

Net (Expense) Revenue - program revenues"minus expenses.

General Revenues - all revenues are gener^ revenues unless they are specifically required'to be reported as program revenues.

Taxes - include dl taxes:received-herei as all are considered general revenues, even those levied for a specific purpose

Staite appropriations - include warrants drawn during the fiscal year and the 13''' period, plus lA"* period if applicable.

Grants and contributions not restricted to specific programs - revenue arising from mandatory and voluntary nonexcharige transactions with other governments, organizations, or individuals that are not restricted to a specific program.

Interest - any interest earned that is not required to be reported as program revenue (Eaitdngs on investmerits legally restricted-to use by a specific program should be reported as program revenue).

Miscellaneous - any general revenues that do not specifically fall under one of the categories listed.

Special items - significant items suHject to management's control.that meets one of the following;criteria: 1) unusual in nature - possessing a high degree of abnormality and clearly uiu'elated or only incidentally related to the ordinary andjtypical activities of the entity. 2) infrequent in occurrence - not reasonably expected, to reciir in the foreseeable future, taking into account the environment in which the entity operates.

Extraordinary items - are both significant in nature and,infrequent in occurrence.

Transfers:- all'interfiind activitiesiinvolving the flow of resources between funds.

Change in net position - net (expense) revenue plus general revenues and special items.

Net position - beginning - net position,at the beginning.of the fiscal-year.

Net position - ending - beginning net position plus change in net position.

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) STATEMENT OF ACTIVmES FOR THE YEAR ENDED JUNE 30, 2014

Statement C

Program Revenues

Expenses Qiargcsfor

Services

Operaiing Grants and

Contributions

Capital Grants and

Contributions

Net (Expense) Revenue and Changes in

Net Positicm

Entity S 3;J55,476 S

General revenues: Taxes Oil and gas leases Royalties and surfto leases Interest Miscellaneous

Spedal items Extraordinary item Transfers

Total general revenues, special items, and transfers Change in net assets

Net position • beginning as restated Net position - ending

(3,255.476)

1.019 1,342.102

2,193,158 129,787 84,-135

3,750,201 494.725

36.095,758 36,590.483

The accompanying notes are an integral part of this statement.

STATE OF tOUISUNA Statement D CADDO LEVEE DISTRICT (BTA) (continued) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30,2014

Cash flows from operating activities Cash receipts from customos $ Cash receipts fiom grants and contracts _ Cash recdpte fiwn interfiind services provided . Other operatii^ cash receipts, if any C^twyments to suppliers for goods or services (2,007,552) C^pînents to ctr^loyees for services (953.359) Ca^ payrrmts for interfiind services used, including payments

"In Lieu of Taxes" Other ̂ jcrting cash payments, if any (• provide explanôn) '

Net ca^ provided(used) by operating activities (2.960.911)

Cash flows from Don-capital flaancing activities Cash receipts of taxes 1.019 Cash receipts of royalties 2.060.756 Cash receipts of surface iea^ 125.465 Cash receipts ofoil and gas leases 1.207.856 Cash receipts of titrfjer 45.066 Cash receipts of miscellaneous items Proceeds from issuance of notts payable Principal paid on notes payê Interest paid onrffltes p^^le (^jeradnggrantsreceived Transte in Transfers out Other (••provide erqrlanation)

Net cadi prDvided(used) by non-capital financing aciiyitiw 3.440.162

Cash flows from capital and rdated financing activities Proceeds fiom safe of bonds Principal paid pn^bonds Interest paid on bond maturities Proceeds fibm issuance of notes payable Prillcipa! paid on notes piayable Interest paid on notes paydjle AcquisitK^construclion ofcoital assets (67.727) Proceeds fiom sale of iîtal assets 42.390 Capital contributions Dqioats with tristees Deferred proceeds fiom capital leases

Net cash provided(used) by capital and related financing activities (25337)

Guh flows from investing activititf Purchases of investment securities (10,000.000) Proceeds fiom sale of iovestihent securities 12,000,000 Interest and dividends earned on investment securities 134.578

Nrt cash provided(use^l^ investing activities 2.134.578

Net in(jease(de(rease) in cash and cash equivalents 2.588.492

Cash and cash equivalents at b^ntiihg of year 17.021.014

Cash and cash equivalaits at aid of year S 19.609306

STATE OF LOUISIANA Statement D CADDO LEVEE DISTRCIT (BTA) (concluded) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30,2014

Recondliatioi of opoatii^ mc(mie(loss) to net provicled(used) operatiiig activities:

OpefatingincQnie(loss) ' $ (3,255,476) Adjustments to recondle operati;^ incc»TE(loss) to net cash

provided(iGed) by opoating activities: Depredation/amortization 385,422 ProviaonfauncoUe^Têacow^ Ofliff

Qian^ in assets and liabilities: (Increase)deatase in accounts recdvable, net (Increase)decreaseinduefomctiiCTfiinds (Increase)deQrease in prepânents (215) (Incfease)decrease in inventories (Inaease)daieBse in other assets» Inaease(dBaease) in accounts payable aid accn^ (133,^9) Inoeasj^dedease) in oonpmsated absences pâWe (3,277) linease(decrease) in due to ctiier fiirids Increas^deaease) in defered revenues Increase(decrease) in OTEB payable 45,884 Increase(decrease)incdierliabillti«

Na cash i*ovided(used) by qjerating activities $ (2,96(X9I1) Schedule of.noncash investing, capital, and financing activities:

BbiTOwing under capit^'lease(s) $ Contributioiis of fixed assets Purchases of equipment on account Asset trade-ins Other (specify)

Total noncash investing, capital, and financing activities:

The accompanying notes are an Integral part of this statement.

CADDO LEVEE DISTRICT (BTA) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30,2014

Please provide an explanation of what is included in "other." Ifthere are multiple reasons, please list each out separately along with the amount.

* OthCT (operating cash payments)

**Other (cash flows from non capital fmancing activities)

Other'(cash flows from capital and related financing activities)

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to the Financial Statement As of and for the year ended June 30,2014

INTRODUCTION

The Caddo Levee District, a component unit of the State of Louisiana, was created by the Louisiana State Legislature under the provisions of Louisiana Revised Statute i38:291c. The Caddo Levee District primarily provides flood protection of those areas contained in the District. The Board of Commissioners administers the operations and responsibilities of the District in accordance with provisions of Louisiana statute. The seven members of the Board of Commissions, which governs the District are appointed by the govemor of the'State of Louisiana.

A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF ACCOUNTING

In April of 1984, the Financial Accounting. Foundation established the Governmental Accounting Standards Board (GASB) to promulgate generally accepted accounting principles and reporting standards with respect to activities and transactions of state and local governmental entities. The GASB has issued a Codification of Govemfnental Accounting and Financial Reporting, Standards (GASB Codification). This codification and subsequent GASB pronouncements are recognized as generally accepted accounting principles for state and local governments. The accompanying financial statements have been prepared in accordance with such principles.

The accompanying financial statements of Caddo Levee District (BTA) present information only as to the transactions of Ae programs of the Caddo Levee District (BTA) as authorized by Louisiana statutes and administrative regulations.

Basis of accounting refers to when revenues and expenses are recognized and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.

The accounts of the Caddo Levee District (BTA) are maintained in accordance with applicable statutory provisions and the regulations of the Division of Administration — Office of Statewide Reporting and Accounting Policy as follows:

Revenue Recognition Revenues are recognized using the full accrual basis of accounting; therefore, revenues are recognized in the accounting period in which they are earned and become measurable.

Expense Recognition Expenses are recognized on the accrual b^is; therefore, expenses, including salaries, are recognized in the period incurred,, if measurable.

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to the Financial Statement As of and for the year ended June 30, 2014

B. BUDGETARY ACCOUNTING

The appropriations made for the operations of the various programs of the-Caddo Levee District (BTA) are annual lapsing appropriations:

1. The budgetary process is an annual appropriation valid for one ye^. 2. The agency is proWbited by statute from over expending the categories established in

the budget. 3. Budget revisions are granted by the Joint Legislative Committee on the Budget, a

committee of the Louisiaha Legislature. Interim emergency appropriations may be granted by the Interim Emergency Board.

4. The budgetary information included in the financial statements includes the original appropriation plus subsequent amendhaents as follows;

APPROPRIATIONS

Original approved budgei S 27,801,900

Amendments:

Final approved budget $ ^^^^^^27^801^900

C. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS (If all agency cash and investments are dep6sited>in the State Treasury, disregard Note C.) See Appendices Packet - Appendix A at http://www.doa.louisiana.gov/OSRAP/afrpackets.htm. for information related to Note C.

1. DEPOSITS WITH FINANCIAL INSTITUTIONS

For reporting purposes, deposits with financial institutions include ^vings, demand depositSi time deposits; and certificates of deposit. Under state law the Caddo Levee District (BTA) rnay deposit funds within a fiscal agent bank selected znd designated by the Interim Emergency Board. Further, the (BTA) may invest in time certificates of deposit in any bank domiciled or having a branch office in the state of Louisiana, in savings accoimts or shares of savings and loan associations and savings banks, and in share accounts and share certificate accounts of federally or state-chartered credit unions.

For the purpose .of the statement of cash flows and statement of net position presentation^ all highly liquid investments (including negotiable CDs and restricted cash and cash equivalents) and deposits (including normegotiable CDs and restricted, cash and cash equivalents) with a maturity of three months or less when purchased are considered to be cash equivalents.

http://www.doa.louisiana.gov/OSRAP/afrpackets.htm

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Not^ to the Financial Statement As of and for the year ended June 30,2014

Deposits in bank accounts are stated at cost, which approximates market. Under state Jaw these dejposits must be secured by federal deposit insurance or the pledge of securities owned by the fiscal agent bank. The market value of the pledged securities plus the federal deposit insurance must at all times equal the amount on deposit with the fiscal agent. These pledged securities are required to be held , in the name of the pledging fiscal agent bank in a^hqlding or custodial bank in the form of safekeeping receipts held by the State Treasurer.

GASB Statement 40, which amended GASB Statement 3, eliminated the requirement to disclose all deposits by three , categories of risk. GASB Statement 40 requires only the disclosure pfdeppsits that.are considered to be exposed'toxustodial credit risk. An entity's deposits are exposed to custodial credit risk if the deppsit .balances are either 1) uninsured and uncollateralized, 2) uninsured and collateralized with securities held by the pledging financial institution, or 3) uninsured and collateralized with securities held by the pledging financial'institution's trust department or agent, but nof in the entity's n^e.

The deposits at June 30, 2014, consisted of the following:

Nonnegotiable Certificates of Other

Cash Deposit (Describe) Total Deposits perstatement of net position

(Reconciled bank balance) $ 19,609,506 $ $ $ 19,609,506

Deposits in bank accoimts per bank $ 19.651,655 $ $ $ 19,651,655

Bank balances exposed to custodial credit risk: $ .$ $ $

a. Uninsured and uncollateralized b. Uninsured and coilateralized with securities

held by the pledging institution c. Uninsured and collateralized with securities

held by the. pledging institution's trust department or agent, but not in the entity's 19,786,806 19,786,806

NOTE: The "Deposits in bank accounts per bank" will not necessarily equal the "Deposits perstatement of net position" due to outstanding items.

The following is a breakdown by banking institution, program, and amount of the "Deposits in.bank accounts per bank" balances shown above:

Banking Institution Program Amount

1. Bttnarfp South Ggitral Funds > 1.567J83 2. Capital One Bank General and Restrict^ Funds IS.042.123 3. -3 -d,

Total S I9.609.S06


Cash in State Treasury and petty cash are not required to be reported in the note disclosure. However, to aid in reconciling amounts reported on the statement oT net position to amounts reported :in this note, list below any cash in treasury and petty cash that .are included on the statement of net position.

Cash in state treasury $ -0-Petty cash '$ -0- '

2. INVESTMENTS

The Caddo Levee District (BTA) does not maintain investment accounts as authorized by LSA-RS 33:2955.

Custodial Credit Risk

Investments can be exposed to custodial credit risk if the securities underlying the investment are uninsured, not registered in the name of-the entity, and are either held by the counterparty or held by the counterparty's trust department or agent, but hot in the entity's name. Repurchase agreements are not subject to credit risk if the securities underlying the repurchase agreement are exempt from credit risk disclosure. Using the following table, list each type of investment^disclpsing the total,carrying amounts and market values, and any amounts exposed to custodial credit risk.

GASH Statement 40 amended GASH Statement 3 to eliminate the requirement to disclose all investments by three categories,of risk. GASB Statement 40 requires only the.separate disclosure.of.investrnents that are considered to be exposed to custodial credit risk. Those investments exposed to custodial credit risk are reported by type in one of two separate columns depending upon whether they are held by a counterparty, or held by a counterparty's trust department or agent not in the entity's name. In addition, the total reported amount and fair valuer columns still must be reported for total investments regardless of exposure to custodial credit risk.

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to the FmaDcial Statement As of and for the year ended June 30,2014

investments Exposed to Custodial Credit Risk

All Investments Regardless of

Type oflnvestment

Negotiable CDs.

Repufchue agfeerhents U.S. Government Obligations **

U.S..Agency Obligations"**

Common & preferred slock

Mortgages (including CMOs &'MBSs) Corporate bonds

Mutual funds Real estate External Investment Pool (LAMP) *•** External Investment Pool (Other) Other;.(identify)

Total investments

Uninsured, •Unregistered, and Held by

Uninsured, Couriterparty's Reported 'Unregistered, Trust Dept. or Amount

and Held by Agent Not in Per Statement of Fair

Counternartv Entity's Name Net Position Value

S S ll.OOOiOOO $ 12,000,000 S 12,000;000

12,000,000 S 12.000,000 $ 12,000,000

* Unregistered - not registered in the name of the government or entity

** These obligations generally are not exposed to custodial credit risk because they are backed by the full faith and credit of the U.S. government. (See Appendices Packet, Appendix A, at http://www.doa.louisiana.gov/OSRAP/afrpackets''.htm for the definition of US Government Obligations)

*** These obligations may not be exposed to custodial credit risk (See Appendix A in the Appendices Packet for a discussion ofFNMA&lFHLMC)

**** LAMP investments should not be included in deposit AND should be identified separately in this table to ensure LAMP investments are not double-counted on the State level.

3. CREDIT RISK, INTEREST RATE RISK, CONCENTRATION OF CREDIT RISK, AND FOREIGN CURRENCY RISK DISCLOSURES - NOT APPLICABLE

4. DERIVATIVES (GASB 53) - NOT APPLICABLE

5. POLICIES - NOT APPLICABLE

6. OTHERUISCLOSURES REQUIRED FOR INVESTMENTS - NOT APPLICABLE


D. CAPITAL ASSETS - INCLUDING CAPITAL LEASE ASSETS

The fixed assets used in the Special Purpose Government Engaged only in Business-Type Activities are.included on the statement of net position of the-ehtity.and are capitalized at cost. Depreciation of all exhaustible fixed assds used by the entity is charged as an expense against operations; Depreciation for fmancial reporting purposes is computed by the straight line method over the useful lives of the assets.

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to the Financial Statement As'of and for the year ended June 30,2014

Schedule of Capital Assets (includes capital leases)

Agency

Capital assets not depreciated: Land Non-depreciable land improvements Non-depreciable easements Capitalized collections Software • developmentin progress Construction in progress

'i'otai capital assets not depreciated Other capi^l assets:

Depreciable land improvements S ** Accumulated depreciation

Total land improvements Buildings ** Accumulated depreciation

Total buildings Machinery & equipment

Accumulated depreciation Totalmachinery&'equipment,

Infrastructure ** Accumulated depreciation

Total infrastructure Software (internally generated & purchased) Other intangibles ** Acciimulated amortization - software ** Accumulated amortization - other intangibles

Total.intangibles Total other capital assets S

Capital a^t summary: Capital assets not depreciated $ Other c^jtal assets, book value

Total cost ofcapital assets Accumulated depreciation/amortization

Capital assets, net S

B^wce 6/30/2013

$ .1.706.986 $

S 1.7()6.y«6 5"

"T5S9355" (253.649)

1,4I5;947 2,301,035

.1.10I!083

$

Prior Period Adjustments

2.517,030 ' 5'

1,706,986 $ 5.W31 •

(1I453S01). • 4!2i24!0i6 %'

Restated Balance

6/30/2013

$ 1.706.986 $

$ 1,706,986" x;

s - s

1,66^,^^6 (252,649) lAlsW 2,301,035

0,199.952) 1,101,08

1,706,986 $

5,677.617 705WT •

51"

Additions Reclassifi

cation ofCIP Retirements

(M26) (26,726) 67,727

xmm ,025.476

062,212) 5;

$ 67,727 67727

mmi (162,212) S

Should only IK used for those completed projects coming out of construction-in-progress.to capital assets. Enter a negative,number except for accumutated depreciation in the retirement colutnn

Balance 6/30/2014

$ 1,706.986

S 1.706,986"

(26,325)

i,66^,6^6 "iSTOSsT

l,37j!211 2.342.437

975.607"

2,354,818

1,706,986 4;ol2;w3 5.719.019

4,U6I.8U4


E. INVENTORIES - NOT. APPLICABLE

F. RESTRICTED ASSETS

Restricted assets in the Gaddo Levee District (BTA) at June 30, 2014 (fiscal year end), reflected at $23;000,000 in the non-current assets section on Statement A, consist of $11,000,000 in cash with fiscal agent and $12,000,000 investment in negotiable certificates of deposits. A board, resolution was made at the March 13, 2013 board meeting that designated $16,OOOiOOO for capital outlay and $7,000,000 for flood fight contingencies for the year ended Jiine 30, 2014.

G. LEAVE

1. COMPENSATED ABSENCES

The Caddo Levee District (BTA) has the following policy on annual and sick leave:

District employees, both classified and unclassified, eaiin and accumulate «"""«! and sick leave at various rates depending on their years of service. The amount of annual and sick leave that may be accumulated by each employee is unlimited. Upon terminatipn, employees or their heirs compensated for up to 300 hours of unused annual leave at the employee*s hourly rate of pay at the time of termination. Upon retirement, unused annual leave in excess of 300 hduisplus unused sick leave is used to compute retirement benefits. The cost of leave privileges, computed in accordance with GASB Codification Section C60, is recognized as a current year expenditure in the fund when leave is actually taken; it is recognized iii the enterprise funds when the leave is earned. The cost of leave privilegesapplicable to general government operations not requiring current resources is recorded in long-term obligations.

H. RETIREMENT SYSTEM

Substantially all of the employees of the (BTA) are members of the Louisiana State Employees Retirement System (LASERS), a single employer defined benefit pension plan. The System is a statewide public employee retirement system (PERS) for the benefit of state employees, which is administered and controlled by a separate board of trustees. (Note: If LASERS is not your entity's retirement system, indicate the retirement system that is and replace any wording in this note that doesri't apply to your retirement system with the applicable wording.)

All full-time (BTA) employees are eligible to participate in the System unless they elect to continue as a contributing member in any other retirement system for which they remain eligible for membership. Certain elected officials and officials appointed by the governor may, at their option, become members of LASERS. Normal benefits vest with 10 years of service. Generally, retirement age employees are entitled to aimual benefits equal to $300


plus 2.5% of their highest consecutive .36 months' average salary multiplied by their yearsrof credited service except for members eligible to begin participation in the Defined Benefit plan (DBF) on or after July 1, 2006. Act 75 of the 2005 Regular Session changes retirement eligibility and final average compensation for members who are eligible to begin participation in the DBP beginning July 1, 2006. Retirement eligibility for these membersis limited to age 60, or thereafter, upon attainment of ten ye^ of creditable service. Final average compensation will be based on the member's average annual earned compensation for the highest'60 consecutive months of employment.

Vested employees eligible to begin.p^cipation ih the.DBP before July I, 2006, are entitled to a retirement benefit^ payable monthly for life at (a) any age with 30 years of service, ©

. age 55 with 25 years of service, or (c) age 60 with 10 years of service. In addition, these vested employees have the option of reduced benefits at any age with 20 ye^s of service. Those hired oh or after July 1, 2006 have only a single age option. They cannot retireûntil age 60 with a miriimum of 10 years of service. The System also provides death and disability benefits and deferred benefit options, with qualifications and amounts defined by statute. Benefits are established or amended by state statute. The System issues a publicly available annual financid report that includes financial statements and required supplementary information for the System. For a full description of the LASERS defined beiiefit plan, pleê refer to the LASERS 2013 Financial Statements, specifically, footnotes A - Plan Description and C - Contributions. A copy of the report may be obtained by writing to the Louisiana State Employees Retirement System, Post Office Box 44213, Baton Rouge, LoiiisiMa 70804-4213, or by calling (225) 922-0,600 or (800) 256-3000. TheTootnotes'to the Financial Statements contain additional details and are also-available on-line at: http://www.lasersonline.org/uploads/CAFR 2013 .pdf

^ members are required by state statute to contribute with the vast majority of employees of the state who became members before July 1,;2006 contributing 7.5% ofgross âry. Act J5 of the 2005 Regular Session increases the member contribution rate from 7:5% to 8% for new members hired after June 30, 2006. The (BTA) is required to contribute at an actuarially determined rate as required by R.S. 11:102. The contribution rate for the fiscal year ended June 30, 2014, increased to 25.4% of annual covered payroll from the 22.0% and. 22:5% required in fisc^ years ended June 30, 2013 and 2012 respectively. The (BTA) contributioris to the System for the years ending June 30, 2014, 2013, and 2012, were $165,101, $159,959, and $147,069, respectively, equal to the required contributions for each year.

I. OTHER POSTEMPLOVMENT BENEFITS (OPEB)

GASB Statement 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans addresses accounting ^d financial reporting for OPEB trust and agency funds pf the employer. GASB Statement 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other than Pensions establishes standards of accounting and financi^ reporting for OPEB expense/expenditures and related OPEB liabilities or OPEB assets, note disclosures, and required supplementary infonnatibn (RSI) in the financial

STATE OF LOUISIANA GADDO LEVEE DISTRICT (BTA) Notes to the.Financial Statement As of and for the yeair ended June 30,2014

rqjorts of govermnental employers. See the GASB Statement 45 note disclosures requirements in section 2 of this note;

1. Calculation ofNetOPEB Obligation

Complete the following table for only the net OPEB obligation (NOG) related to OPEB administered by the Office of Group Benefits. The ARC, NOO at the beginning of the year, interest, ARC adjustment, and Annual OPEB Expense have been computed for 0GB participants (see-OSRAP's website - httD://www:doa.louisiana;gQv/OSRAP/afrDackets.htmV and select "GASB 45 OPEB Valuation Report as of July 1, 2013, to be used for fiscal year ending June 30, 2014." Report-note disclosures for other plans, not administrated by OGB, s^arately.

Annual OPEB expense and net OPEB Obligation Fiscal year ending 6/30/2014 l.*ARC ' $69,100.0 2. * Interest on NOO $19,800.0 3. * ARC adjustment $18,900.0 4. • Annual OPEB Expense (1. + 2. - 3.) $70,000.0 5.,Contributions (employer pmts. to OGB for retirees' cost of 2014 insurance premiums) $24,116.0 6. Increase in Net OPEB Obligation (4. - 5.) $45,884.0 7. •NOO, beginning of year (see actuarial valuation report on OSRAP's website) 494453 8. **NOO,endofyear(6. + 7.) $540,337.0

*This must be obtained from the OSRAP website on the spreadsheet "GASB 45 OPEB Valuation Report^ of July 1, 2013, to be used forfiscEd year ending June 30,2014."

*'*This should be-the'same amountas that shown on the statement of net position for the year ended June 30, 2014 if your entity's only OPEB is administered by OGB.

For more information on calculating the net OPEB obligation, see the Appendices Packet, Appendix D, at http://www.doa.louisiana.gov/OSRAP/afo)ackets.htm.

J. LEASES

The Caddo Levee'District has entered into several-surface Jease.agreements which provide rental income to the District. Payments on these leases are due annually. Leases are cancelable at any time by either party of the lease. Rental income for the year ended June 30, 2014 was approximately $130,926. The cost and carding value of land of the lease is approximately $520j538.

K. LONG-TERM LIABILITIES

The following is a summ^ of long-term debt transactions of the entity for the year ended June 30, 2014:

10

http://www.doa.louisiana.gov/OSRAP/afo)ackets.htm

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to the Financial Statement As'of and for the year ended June 30,2014

Year ended June 30. 2014 Balance Balance Amounts June 30, June 30, due,with in

2013 Additions Reductions 2014 one year

Notes aad bonds payable: Notes payable $ $ J S - J Bonds payable -

Total notes and bonds - - . • -

Other liabilities: Contracts payable -Compei^ted absences payable 70,532 35,705 38,982 67,255 38,982 Capital lease obligations -Claims and litigation -Pollution remediation obligation -OPEB payable 494,453 88,900 43,016 540,337 Other long-term liabilities -

Total other liabilities 564,985 124,605 81,998 607,592 38,982

Total long-temii liabilities ,$ 564,985 $ .124,605 $ 81,998 S 607i592 $ 38,982.

(Balances at June 30^^ should include current and nonrcurrent portion of L-T liabilities.) The totals must equal the statement of net position for each type of long-term liabilities.

L. CONTINGENT LIABILITIES - NOT APPLICABLE

M. RELATED PARTY TRANSACTIONS - NOT APPLICABLE

N. ACCOUNTING CHANGES - NOT APPLICABLE

O. IN-KIND CONTRIBUTIONS - NOT APPLICABLE

P. DEFEASED ISSUES - NOT APPLICABLE

Q. REVENUES - PLEDGED OR SOLD (GASB 48) - NOT APPLICABLE

R. GOVERNMENT-MANDATED NONEXCHANGE TRANSACTIONS (GRANTS) -NOT APPLICABLE

S. VIOLATIONS OF FINANCE-RELATED LEGAL OR CONTRACTUAL PROVISIONS - NOT APPLICABLE

T. SHORT-TERM DEBT - NOT APPLICABLE

11

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to the Financial Statement. As of and for the year ended June 30, 2014

U. DISAGGREGATION OF RECEIVABLE BALANCES

Receivables at June 30, 2014, were as follows:

Fund (gen. fund, gss tax fund, eta)

Customer Receivables Tans

Receivables from other

Governments Otha

Receivables Total

Receivables GensalFund $ 237,363 $ $ $ 35,417 $ 272,780

Gross receivables S 237,363 $ - $ - $ 35.417 S 272,780 Less allowance for uncollectible

accounts Receivable, net $ 237,363 $ - $ • $ 35,417 S 272,780

Amounts not scheduled for.collection during the

subsequenty^ $ $ $ S $ -

V. DISAGGREGATION OF PAYABLE BALANCES

Payables.at June 30, 2014, were-^ follows: Salarie

and Accrued Other Total Fund Vendors Benefits. Interest Payables Payables

'General Fund $ 37;003 $ $ $ $ 37,003

Total payables 37,003 $. - $ - $ - S 37,003

W. SUBSEQUENT EVENTS

These financial statements considered subsequent events through August 29,2014, the date the financial statements were available to be issued.

I

X. SEGMENT INFORMATION & REPORTING FUNDS OF A BLENDED COMPONENT UNIT - NOT APPLICABLE

12

STATE OF LOUISIANA GADDO LEVEE DISTRICT (BTA) Notes to the Financial Statement As of and for the year ended June 30,2014

V. DUE TO/DUE FROM AND TRANSFERS - NOT APPLICABLE

Z. LIABILITIES PAYABLE FROM RESTRICTED ASSETS - NOT APPLICABLE

AA. PRIOR-YEAR RESTATEMENT OF NET POSITION - NOT APPLICABLE

BB. ASSETS RESTRICTED BY ENABLING LEGISLATION (GASB 46) - NOT APPLICABLE

CC. IMPAIRMENT OF CAPITAL ASSETS & INSURANCE RECOVERIES - NOT APPLICABLE

DD. EMPLOYEE TERMINATION BENEFITS - NOT APPLICABLE

EE. POLLUTION REMEDIATION OBLIGATIONS - NOT APPLICABLE

13

(aeency/dqaitmenQ GASB49 inventaylog FYE 600/14

NcA applicable

Ptqect Name FP&ObEQ Trigger 600/13 Ending

Project Number Year Balance

b i j k I m D

Decreases 6/30/14 Ending Non-Cune^ (expenditures) DarBSs(oiher Babnce (including Pemat Cuireat Portion of Portimirf^l/r

(including aauals) adjustments) icouals) Conqdete L/TOdit Debt [ncnascs Realizable Recoveries

I3tb Period Expenditures Notes

ProieBsRcDoredQ 6/30/13: b

ProieasNOTPrevioiBlyReDorted: e

ProjetSsBegunafter7/1/13: d

Tolab

0 0 0 0 0 0 0 0 0

0 0 0 . . 0 0 0 0 0 0

14

STATE OF LOUISIANA CADDO LEViEE DISTRICT (BTA) Notes to the Financial Statement As of and for the year ended June 30, 2014

Explanations for GASB-49 Worksheet

a Enter agency/department name

b List projects reported in the prior fiscal year that had an outstanding liability at 6/30/13

c List projects that .were overlooked or not included as remediaition projects in previous fiscal years

d List reme^ation projects that were begun/identified in the fiscal year ending 6/30/2014

e Enter project number assigned by FP&C, DEQ, or other number assigned^to identify project

Year the project was begun—this is not necessarily the year remediation began; it should be the f year the, pollution was identified and includes time involved to develop a remediation plan and

the actual.remediatibn process

Tliis column is used ,to report those projects that were included/added in the previous fiscal year CT

and had a balance outstanding at the end of that year

This colurnn is for reporting increases,in the estimated remediation cost, whether firbm expanding theiscope of the project to contracting for a specific service.

i Record totd expenditures related to the projectmade during the fiscal year, including those made in the 13th period (13th period expenditures are also shown^ separately in column AB (p)

Record activities that decrease the estimated remediation liability that are"not expehditures-for j example, amounts included in original estimate were overstated and actual was less than what

was recorded; scope of project not as extensive as originally'estimated.

k The forraida in this column sums columns J,L, N, and P (g, h, i, and j)

1 Indicate percentage of project completion in this column

m .Amounts in,this column represent the portion of the ending liability that are due and payable within the next 12 months

Amounts in this column represent the pprtion of the ending liability that are not due and payable until after 6/30/14. This amount plus the amount in column V (m) must total the amount in

This column is to identify any amounts that have been or will be received fix)m other sources such as other responsible parties or insurance proceeds to help cover the cost of remediation

Record arabunts expended on pollution remediation projects during the 13th accounting period ^ in this column—this amount should be included in column N (i)

q Provide reference and note explanations on an extra page, for,example: (1) awaiting court

15

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) Notes to^e Financial Statement As of and for the year ended June 30,2014

FF. AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) - NOT APPLICABLE

GG. RESTRICTED ASSETS - OTHER SPECIFIC PURPOSES - NOT APPLICABLE

HHi SERVICE CONCESSION ARRANGEMENTS - NOT APPUCABLE

n. NONEXCHANGE FINANCIAL GUARANTEES (GASB 70) - NOT APPLICABLE

16


SCHEDULE OF PER DIEM PAID TO BOARD MEMBERS JUNE 30,2014 (Fiscal close)

Name Amount

Patrick Harrison $ 2700

Kandi Moore 2025

Gary Procell 1500

James G. Sims 2700

Carolyn G. Prater 2325

•Helen Godfrey Smith 1650

Willie Walker 1125

Total $ 14,025

Note: The per diem payments are authorized by Louisiana Revised Statute, and are presented'in coihpliance with House Concuirent Resolution No. 54 of the 1979 Session of the Legislature.

SCHEDULE 1

STATE OF LOUISIANA CADDO LEVEE DISTRICT (BTA) SCHEDULE OF NOTES PAYABLE

JUNE 30,2014 (Fiscal close)

Issue

NOT APPLICABLE Principal Principal

Date of Original Outstanding Redeemed Outstanding Issue Issue 6/30/PY . (Issued) 6/30/CY

Interest Rates

Interest Outstanding

6/30/CY

$ $ $• $ $

Total

*Send copies of new amortization schedules

SCHEDULE 3-A


SCHEDULE OF BONDS PAYABLE JUNE 30,2014

(Fiscal close)

NOT APPLICABLE

Principal Principal Interest Date of Original Outstanding Redeemed Outstanding Interest Outstanding

Issue Issue Issue 6/3Q/PY (Issued) 6/3Q/CY Rates 6/3Q/CY Series:

^ A ^

Unamortiz^ Discounts and-Premiums Series:

Total

*Note: Principal outstanding (bond series minus unamortized costs) at 6/30/X4 should agree to bonds payable on theistatement of net position.

Send copies of new amortization schedules for bonds and unamortized costs.

SCHEDULE 3-B


SCHEDULE OF CAPITAL LEASE AMORTIZATION For The Year Ended June 30,2014

NOT APPLICABLE

Fiscal Year Ending. Pawnent Interesl Rincipal Balance

2015

2016

2017

2018

2019

2020-2024 •

2025-2029

2030-2034

2035-2CG9

Total S ~ $ - $ - $

SCHEDULE4-A

STATE OF LOUISIANA GADDO LEVEE DISTRICT (BTA)

SCHEDULE OF NOTES PAYABLE AMORTIZATION For the Year Ended June 30,2014

NOT APPLICABLE

Fiscal Year Ending: Principal Interest

2015

2016

2017

2018

.2019

2020-2024

2025-2029

2030-2034

2035-2039

Total

SCHEDULE 4-B


SCHEDULE OF BONDS PAYABLE AMORTIZATION For The Year Ended June 30,2014

NOT APPLICABLE

Fiscal Year Ending: Principal Interest

2015 2016

2017 2018

2019

2020

2021

2022

2023 2024

2025

2026

2027 2028 2029 2030 2031 2032 2033

2034 2035 2036 2037 2038

2039 Subtotal

Unamortized Discounts/Premiums

Total $ „ $

*Note: Principal outstanding (bond series plus minus unamortized costs) at 6/30/14 should agree to bonds payable on the statement of net position.

SCHEDULE4-C

STATE OF LOUISIANA

CADDO LEVEE DISTRICT (BTA)

COMPARISON FIGURES

To assist OSRAP in determining the reason for the change in financial positioh for the State, please complete the schedule below. If the ch^ge is greater than $5 million, explain .the reason for the change. Please provide adequate details to clearly explain the change from last year.

2014 2013 Difference Perceritage

Chanee

1) Revenues $ 3,750,201 $ 4,115,368 $ (365,167) $ (8.9%)

Expenses 3,225,476 2,248,224 977,252 43.5%

2) Capital assets 4,061,804 . 4,224,016 (162,212) (3.8%)

Long-term debt

Net position 36,590,483 36,095,758 494,725 1.4%

Expiation for change:

SCHEDULE 15

SCHEDULE 16 - COOPERAtlYE ENDEAyORS - NOT APPLICABLE FOR THE YEAR EIÊD JUNE 30, 2014

AGENCY NUMBER AGENCY NAME

See Appendix F for instructions Email completed form,to [email protected]

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SEP 10 im - lla.state.la.us · StatementofRevenues, Expenditures, and Changes in Fund E • 13...

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