Village of Rosedale - LLA Default Homepageapp1.lla.state.la.us/PublicReports.nsf/D4398D85B9... ·...

$: Village of Rosedale - LLA Default Homepageapp1.lla.state.la.us/PublicReports.nsf/D4398D85B9... · JND] l>l Ni)] NI AUDIIOK SKI POK I ON C OMPl IA\( T M)K I ACII MAJOR PKOOKAM ...$
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Village of Roscdalc, Louisiana

Annual Financial Statements

\ s of and for the year ended l)cecmber31,20I2

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

Release Date OCT 0 9 2013

Fable of Contents

INDLPfNDI N I AUDITOR'S RhPOKl ONilNANCIAl SIAItMHNIS \ . }

B.isic KiiiHiiciiil StiiU-mcnts

Cio\».rnnKiU - W idc 1 in.iin.Kil Staicmcnis Siarcmcni ot Nc( Posiiion \ SLjtcniciu t)l AtlrvKiL's 5

I und 1 maiKKii SialcmLMits GovLinnionial At i iMi ics

Balaiitc Sheet ft Kciniicil ialion oi the UalancL Sheet lo the SlatLmLiU ot Net T'osituin 7 Siatemuit of Re\eiiiies i \peiiOitii iesand Chaiiiieb m I und balance S l<L(.o)Kihauoii ot the Siaieiiieiii ol ReveiuKs [ xpendituie^ and ChaniiJs in Piind BalaiiLC lo iht SuiiLineiU ol ALUVUILS ')

liuMMLS^-iNpe aetiviiiLs ( l ' iopr ieiai \ I und W.iter S\sieni) -Slateineiil ol Net PosHion 10 Statenieni ol l<e\eniies 1 \pi.nses .ind C hanjies ni \ e l Position 11 Statenienl ol C ash I lows 12

NoiLN 10 HK I loaiiLUil Slak1ln.nl^ 1 " - M)

Ki(|Uir(.d Siip|>leiuciitar\ IntDi inat ioi i (P. ir l I I )

IJudueiarv ("otnpanson Schedules

(iLiieial I und ^\

Special Keveiuie I und 1 iie Proieil ion " 2

h i tnr inat ion Ku|u i red b\ (><>\cniiiieiii At id iUn^ Standards

1M)1 IM M ) l N'l A U D I I O K S Kl l»( )K ! ( iN I N l i KNAl C O N I K O I O V I K I I S A N C I A L K I P O K I l N d A N D O N C O M P l )AN( I AND ( ) l i ! M < MA I ILUS IMS I D O N AN A U D I ! OI 1 INANC I M SI A l l Ml M S PI k l OKMI D I N ACCOKDANCI WWW I,()\ I R\ \ \ f l \ / ' \ U 0 H I M , S I \ M ) \ l i i )S ;> - .4

Ucporls Kc(|uircd h\ O I M I H irculai A-133

1 "^ Schedule ot I vpendiUue ol I etIeMi AuaKl*. Not to Schtduk ot I \pi.ndituiLs ul I cd^ral Auaids M

JND] l>l Ni ) ] N I A U D I I O K S K I POK I ON C OMPl I A \ ( T M)K I ACI I MAJOR PKOOKAM AND ON IN I I KNAl L O N I K O I OVI k C OMPl lANCI KLQUIKI 1> m O M I U iKCl il AK A- l "il i"? . " s

Schedule o\' rindniiis tind Qiie.'jtioned Costs •;(>. ^o Schedule ot I mdiniisand KespoitiLb - Piioi Yeai -\\ Manaiiemenl s Loirective Plan ot Action 42

http://in.iin.Kil

W. Kathleen Beard, CPA, LLC 10191 Btieche Rd. Biiedte, LA 70729

Member American institute of CPA's Louisiana Society of CPA's

Email Kbeardcpa@Yahoocom Telephone (225)6?7-4537 FAX (22b) 6;? 4584

INDI PLNDI NI AliDIIOU'SKl FORI ON I INANCIM SI \11 VII M S

I o ihe 1 hmorahle Ma\ or and Meinbeis ol the Boaid ol Mdennen

Villai:eot Kos^dalc I ouisian.i

Kcporl on Financial Slateincnis

1 lia\e audited the accoinpain mg llnancial staleinciits ol the L:ovciiiinental activities husiness-t\pe activities and each niajoi tund ot the Villaiie ol Kosedale I ouisiana (the VillagL ) as ot and loi the veai Ltided Occeniher >l 2012 and the telated noie^ to ihe tlnancial stateineiU> which eoMeeliveK cotnpiise the ViiUiiie s basic financial slatemenl^ as listed m the lahle ol eonleiits

Mana{>enKiU*s KcsponsihiliU for Ihc I'inancnil Stalcinenls

Manniiemeni is lesponsible lor the pie|)aration <uid tair piei.eiitation ol these tlnancial siaicnieiUs in .iccoidanee with aecnuniinLi pnnciples genetalls accepted in the IJ nied Si.iles of Aineiica ihis includes lite desiun iniplenientaium MK\ tnaintenance of inieinal contiol lelevant Ut the prepaiMlion and lair pteseiitation ol llnancial siaienienls that aie tiee lioni niateiial inr whtthei due to tiaud or eiie i

inissi.itenient

AuUilor's Ki'sponsihiliU

M\ lespOMMbilit) IS U) espie^s opinioii'- on tliese llhaneial staieinenis hased in\ nt\ audit I conduded nn audit in aceoidatiee v\ ith auditiiii: standards ueneialK accepted in die United States ol Aineiica and the ^landaids applicable to rinaiicial audits contained in iioM'iiuncni \minin\i SiuiuUinls issued b\ the (. ompUoller deiieral ol the United Stales 1 hose standaids lequiie that I p an and peiloini the audit to olitain reasonable assmaiice about whethei the basic llnancial blatenients aie lice ot material niissiatennni

An audit involves perlorniini: pioceduies to obtain audit e\idence alioul tlie amounts ind disclosures in the tlnancial siatenieiits Ihe pii)ceduics selected depend on the auditoi s judiiinent including the assessment ot the iisks ot m.iterial misstatenien ot the tlnancia} statements ulieEliei \.hi\. ti> tiaud oi CIIDI In nittkrng thiise nsk assessments the audiioi eoiisieiers internal control iele\ani lo the cniit\ s piep.iration and Ian prebentadon ot the tlnancial siatcnieiiis in oidei to design audit pioccduies that ate appiopiiaiL Ul the cireiimsiances but noi lor the purpt>se ol eNpiessiiiii ^u opinum en the ellectueness ol the entilv s nleinal contiol AceoidinuK I e\piess no such opinion An audit also includes exaluating the appiopnaieness i l accounUnLi policies used and the leasonableness ol signiUcant accounling estimates made b\ manaiiement as well as e\alu.ilini: the overall picseiitatuin ol the financial siateiiienis

1 belie\e that the audit evidence' 1 lia\e Dlilained is >>uitleient and appiopiiatv to pi ovule a basis loi nu opinions

Opinions

In m\ opinion the llnancial statements leteiied to above present laiiK m all matetia! respects tliL respective llnancial position ol the iio\ernmenial aelu iiies busniess-t> pe actn itics and eaeh man>r tund ol the Villaiie ot Kosedale I ouisiana as v)l Deceinliei "" 1 2012 and the lespeciive changes m Jlnancial posilum ihcieoi tor the \ea( then ciideil in accoidance with acconnung prmcipk-s geneidlK accepted in tlie United States o! America

"1 o the Honoiablc Mnvor and Members ol the Boaid of Aldeimen

Villai:eol Kosedale Louisiana

Kmpha^isuf Matter

As deiitribed in Note I lo the lliidncial statements in 2012. the Villaiie adopted new aecouming guidance (lASb Staictnem No ft''^ / nuuKiul ficptniiiiM (>} iX'fcuL'ii Oulfli'Xis of Ri'saiiUL's Dc/ciwil Inflows of licsonucs umf \L'1 f'oMlKt/t M\ opinion is not tiiodtrted with respexi to this niaitei

Other Matters

/'n(*i )cin SuninutmcJ(. oin[>iniilnc fthtls

Ihe pi 101 \eai sununari/ed comp.tiative inloiination has tx'cn deii\ed troni the Village s 2011 tlnanchil statements and in nn report dated June 21 2012 1 e\pttssed and unquahtleJ opinion on the lespcctive finaneial statements ot the govemmental activities business-t\pe* activities and eai-h ma|oi lunti

RcifinicJ Supplement01 \ Intonualmn

Accounting i^nnciples geneialK .iccepied in the UniU'd States ot America iet|uiie thai the budgelaiA companson mtormaiion on pages 37 and ."iS Ix' presented to supplement the basic tlnancial statements Such inloimation although not a part ol the basie tltiaucial sldieincdls is (c'c|iiJ(cd b\ (lie (i<»veinmeiitaJ Actouninig Siandaids Hoard who constdtis il to be an eSsenlMl \irl ot tlnancial reporting Uir placing the basic llnancial statements in an appropnate opeiational economic oi histoiical conteM I lia\e applied vCitain limited pioceduies to die letiuiied supplemental) inloimation in accoidanee with auditing standaids geneialK accepted in the t/niled States of AmLiiea whicli consisted o( iiuiuines o( management about tlie methods ot piepaiing the intoimatioii and coinpaiing the inloimation tor consisteiic\ with management s icsponses to in\ iKpiiites the basic rniancial staiement<> and othei knowtcdge I obtained duiing m\ audit ot Ihc basic tlnancial sialcments t \\K'i not express an opinion oi piovide an\ assurance on the mionnadon because the limited piocciluies do not pio\ide ine with sulllcieni e\idenee to express an opinion 01 p;o\idean\ (issiiiance

Management has omitted the management s discussion and anaKsis inloimation that accounting principles geneialK accepted in the United Slates ol Ameiica ie\|iiiie to be piesenied lo supplement the basic llnancial stalements Such mi-^smg inloimation although not a pait ot the basic tlnancic I stateinenis is leciuired b\ the doveinmenuil Accounting Standaids lioaid whi> eonsideis It 10 be an essential pait ol financial ie|)oiiing toi placing (he basic llnancial statements m an appropnate opeiational economic oi histoncal context \ \ \ i^pimon on the b isie llnancial statements is not altected b\ this missing inloiinalion

Oihcf Inft/i niafinn

M) audit was coiidiicled lot (he purpose ot loiniing opinions on the lin.iikial siaienienls ihat collects el_\ toiiipnse the Village ol Kosedale* Louisiana s basic tlnancial statements Ihe accompanying schedule ol expenditures ol lederal awaids is pieseiited toi purposes ol additional analvsis as required b\ U S Ottlce ol Management and Budget Ciiculai A - H i lntlif\ itf Sui/es I a m I Cj(i\einmcn{\ am/ Kon-riofif Oninnizi.ftons and is not a rec|Uii"ed part ot the liasic financial statements Such inloimation is the lesponsibihi) oi managemenl and was derived liom and telated directlv to the underKing accounting and other records used to piepaie the basic tlnancial statements the iniormation has been subiecled to the auditing pioceduies applied in (he audii ol the l asic tlnancial siaiements ,I\K\ cen.iin addition.il procedures including conipaiing .md lecoiieiling such inloimation diieetU to the iindeibing accountmg and olhei reerids used tt) piepaie the Ixisic llnancial statements or to the basic tlnancial siaienients themselves and otliei additional pioc.duies in acctirdance with auditing standaids genei.illN accepted in the Lmiied Stai^v ot Amciica In in\ opinion the schedule ol expcndituies ot lederal awards is lairU staled in all matenal lespecls in icLiiion to the basic financial statements as a whole

http://addition.il

Other Reporting Required b\ Co\eminent Auditing Standards

In dccoidance with Otneinnndnt •\mimn\i Slundan/s 1 have also issued a lepon dated June 2^ 2013 on m\ consideiaiion ol the Disuict s intemal contiol o\er financial reporting and ni\ tests of its compliance with ceitam pio\isions ol laws legulations contracts and giant agreements and othet matters Ihe purpose of that lepoii is to describe the scope ot m\ testing ol niiernal control ovei financial reporting and compliance and the results of that testing and not to pro\ ide an opinion on the internal contiol over tlnancial leponing oi on complianeo that repoil is an integral part o! du audit peilormed in accoidanee with Oowmmcni •\iahiin^ Stiimiauls and should be tead in eonjunciion with this leport m tonsidenng the tesults ot nn atidil

?{/, XatMem Semd C crtifled Public Accountant Iune2^ 20 1J

"""•"—.s..-.„..„

Village of Rosedale Statement of Net Position

December 31, 2012 with summarized comparative totals for 2011

Primary Government Governmental Business-type 2011

Activities Activities Total Totals

ASSETS. Cash and cash equivalents

Cash on hand and in banks Investment in LAMP

Accounts receivable (net) Franchise Others

Due from other governments Due from other funds Prepaids Capital assets

Non-depreciable Depreciable net of accumulated depreciation

Total assets

LIABILITIES-Accounts payable Accrued liabilities Contracts payable Retainage payable Due to other funds Due to other governments Liabilities for compensated absences Advances from customers Total liabilities

NET POSITION. Net investment in capital assets Restricted for Fire Protection Unrestricted

Total net position

151,753 $

632.018 161.970

37,047 S

29 786 5 879

188 800 $

661.804

167 849

151,293

737 376 72 874

14.970

835.038 1.405.073

761 977

276.757 575.438

761 15 947

1 111795 1 980.511

821

20,584

256 974

2 208.403

3.200,622

6.826

4.513

43 586

27.236

761 7.340 8 524

-98.787

2.169,289

278.458 654.289

$ 3.102.035 $

926,645

10.266

-110 860

2,960

----

124.085

738.375

-64.184

802.560

4 127 467

17 092

4 513

30 196

761 7 340 8 524

-68 427

2 907 664

278 458 718 474

$ 3 904 595

3.448.324

17610 5.574

4 520

821 7 398

6 639

1 189

43 751

2 465 377

255 430 683 766

S 3 404 573

The accompanying notes to the financial statements are an integral part of this statement

Vil lage of Rosedale

Statement of Act iv i t ies

For the Year Ended December 31 , 2012 wi th summar ized totals for 2011

Funct ions/Programs

Primary government

Governmental act iv i t ies -

General government

Public safety

Public services

Culture and recreation

Urban development

Total governmental activities

Expenses

Program Revenues

Operat ing Capital

Charges fo r Grants and Grants a n d

Services Contr ibut ions Contr ibut ions

168 731 S

244 416

290 837

7 409

20 996

-3 370

10911

. 732 389 14 281

511 434

20 996

Net (Expense)Revenuo

and Changes in Net Assets

Primary Government

Governmentaf

Activi t ies

8 us mess ' type

Act iv i t ies Total

(168 731)

{241 0461

231 508

;7 409)

20 996 511434 f l85 678l

(168 731) S

(241 046)

231 508

(7 409)

(185 678)

2011

Totals

(185618)

(212215)

(288 933)

17 657

(669 1091

Busjncss-typc act jvt t ics -

Water utilities

Total busmess-type activities

153 239

153 239

70 602

70 602

150 737

150 737

68 100

68 100

68 100

68 100

158 230)

(58 230)

General revenues

General purpose sales and use tax

Public safety sales and use tax

FEMA reimburser^ients

2% Fire insurance rebate

Franchise taxes

Occupational license

Bui'ding and liquor permits

Other taxes

Investment income

Other income

Special Items Gam on sale •

Transfers

Total general revenues and transfers

Change in net posi t ion

Net pos i t ion, January 1,

Net pos i t ion , December 31 .

The accompanying notes to the financial statements are an integral part of this staterr.enl

588 244

121 177

3 538

29 241

19 224

1 880

716

.022

536

1 225

(193 303)

573 SCO

387 822

2714 212

S 3 1C2 035 S

-

---43

-1 490

4^ bbb

44 099

112 199

690 361

B02 560 S

588 244

121,177

3 538

29 241

19 224

1 880

716

1 065

536

2 715

(150 737)

617 599

500 021

3 404 673

3 904 595 S

643 389

132519

3 378

36 872

21802

1670

742

772

489

-0

841 633

114 295

3 290 278

3 dQ4 T-j

Village of Rosedale, Louisiana

Balance Sheet

Governmental Funds

December 31, 2012 with summarized comparative totals for 2011

ASSETS

Cash and cash equivalents

Cash on hand and in banks

Investments m LAMP

Receivables -

Franchise taxes

Other receivables

Due fronn other funds

Duo from other governments

Special Revenue Capital

General Fire Protection LCDBG Projects 2011

Fund Fund Housing Program Fund Total Totals

S 89 321 S

417 550

7 332

21 182

52 711

62 332 S

214 468

IOC S 151753 S 126 865

632 C18 707 633

10 022 3 000 88 905

7 332

21 182

154 638

7 328

100

i8 975

Total Assets 588 096 S 286 821 S 3 000 S 89 005 S 966 922 S 900 900

LIABILITIES AND FUND BALANCES

Accounts payable

Contracts payable

Retainage payable

Accrued liabilities

Due to other funds

Due to other governments

Liabilities for compensated absences

Total Liabilities

5 803 S

4 513

761

1 023 S

7 340

S S 6 826 S 9 359

43 586 43 586

3 000 24 236 27 236 4 520

4 513 5 574

21 18;' 21 943 921

7 340 7 398

8 524

19 600

-

8 363

-

3 000

-

89 005

8 524

119 969

6 539

34 411

Fund Balances

Restricted for fire protection

Committee -

Advances for capital projects

Unassigned

Total Fund Balances

Total Liabilities and Fund Balances

144 759

278 458 278 458

144 759

255 430

s

423 73'

568 496

588 096 S

-

278 458

286 821 S

-

3 000 s 89 005

423 737

846 954

S 966 922

611 059

866 489

S 900 900


Village of Rosedale Reconciliation of the Balance Sheet to the Statement of Net Position

Governmental Funds December 31, 2012 with summarized comparative totals for 2011

2012 2011

Fund Balances - total governmental funds S 846 953 S 866 489

Amounts reported for governmental activities int the State of Net Assets are different because

Capital assets used in governmental activities are not financial resouces ttierefore are not reported in governmental funds

Governmental capital assets 4 074 349 3 522,170 Less accumulated depreciation (1 834.238) (1 694 053)

2 240 111 1 828 117

Prepaid insurance premiums in governmental activities are not recognized as expenditures for governmental funds 14 970 19 607

Net Position of Governmental Activities $ 3,102 035 $ 2 714 212



Statement of Revenues Expenditures and Changes in Fund Balance

Governmental Funds

Years ended December 31, 2012 with summarized comparative totals for 2011

REVENUES

Taxes and licenses

Intergovernmental revenue

Charges for services

Fines and forfeitures

Interest income

Miscellaneous

Sale of fixed assets

Total revenues

Special Revenue Capital

General Fire Protection LCDBG Projects

Fund Fund Housing Program Fund Total

2011

Totals

50 Z^b S

588 960

10 9T'

3.370

711

1 225

50 345 S 60 343

124 715

311

536

20 996 511 434 1 246 106

10911

3 370

1 022

536

1 225

956 363

12 290

3 541

740

489

655 522 125 562 20 996 511 434 1 313515 1 033 765

EXPENDITURES

Current -

General government

Public safety

Public works Urban development

Rehabilitation Project

Capital outlay

156 289

35 235

223 " 00

9 253

'5 343

31 191

Total expenditures 424 477 106 535

Excess Revenues Over (Under) Expenditures 231 045 19 027

20 996

587 739

156 289

110 578

223 700

20 996

628 184

175 931

96 464

226617

151 355

244 269

20 996 587 739 1 139 748

(76 305) 173 767

896 616

137 150

OTHER FINANCING SOURCES (USES)

Ttransfers m

Transfers (out)

Total Other Financing Souices (Uses)

Net Change m Fund Balances

(273 309)

(273 609)

(42 563)

4 000

4 000

23 028

76 305

76 305

80 306

(273 609)

(193 303)

(19 536)

116 572

(163 099)

(46 527)

90 62:

FUND BALANCE

Beginning of Year

End of Year

611 059 255 430

568 496 S 278 458 S

866 489 775 867

S 846 953 S 866 489


Village of Rosedale Reconciliation of the Statement of Revenues, Expenditures and

Changes in Fund Balances to the Statement of Activities Governmental Funds

Year Ended December 31, 2012 summanzed totals for 2011

Net Change in Fund Balances ~ total governmental funds

Amounts reported for govemmenta activities in Statement of Net Assets are different because

2012 2011

$ (19 536) S 90 622

Expenditures in the Statement of Activities that do no use current financial resources are not reported as expenditures in the funds

Current year Prior year

Governmental funds report capital outlays as expenditures However, in the Statement of Activities, the cost of those assets is depreciated over their estimated useful lives

14 970 (19,607)

19.607 (11 723)

Expenditures for capital assets Less current year depreciation

Governmental funds report income equal to the proceeds from sale of captial assets whereas, the Statement of Activity reports gam or loss which reflects book value of assets when sold

Net difference

Change in Net Position of Governmental Activities

628.184 (216 189)

407,358

244 269 (216611)

35,342

$ 387 822 S 125.964


Village of Rosedale Statement of Net Position

Proprietary Funds For the Year Ended December 31, 2012 with summarized comparative totals for 2011

Business-type Activities Enterprise Fund > Water System

ASSETS

Current assets -Cash and cash equivalents - Cash on hand and in checking

Cash on hand and in checking S LAMP

Accounts receivable (net) Due from other funds Prepaid expenses

2012

37 047 S 29,786

5 879 761 977

2011

24 428 29 743 6 571

821 977

Total Current Assets 74 450 62.539

Noncurrent assets -Capital assets Nondepreciable Construction in progress

Depreciable Plant and equipment Less accumulated depreciation

Property plant and equipment, net

Total Noncurrent Assets

Total Assets

LIABILITIES Current liabilities -Accounts payable Contracts payable Retainage payable Advances from water customers

Total Current Liabilities

Total Liabilities

NET POSITION Net investment in capjtal assets Unrestncted

Total Net Position

276 757 9 675

1 371 518 1 364 411 (795.080) (736 825)

s

$

$

852 195

852.195

926.645

10,266 110.860

2,960

124,085

124,085

738.375 64,184

802,560

$

S

$

637 261

637,261

699 800

8 251

1 189

9 439

9 139

637 261 53.100

690 361


10

Village of Rosedale, Louisiana Statement of Revenues, Expenses and Changes in Net Position

Proprietary Fund Year ended December 31, 2012 with summanzed comparative totals for 2011

OPERATING REVENUES Charges for services Connection/reconnection fees Miscellaneous income

- Busmess-type Activities • Enterprise Fund - Water System

2012 2011

s 67 950 1 300

852

S 71 081 1 625

75

Total Operating Revenue 70,602 72 781

OPERATING EXPENSES Personnel services Purchased professional services Current used in pumping Water purchased Other purchased services and expense Repairs, maintenance & supplies Bad debt expense Depreciation _

Total Operating Expense _

Operating Income (Loss) _

NON-OPERATING REVENUES (EXPENSES) State grant Interest income Sale of captial assets Total Nonoperating Revenues ([Expenses)

Income (Loss) before transfers

Capital contnbutions - General fund Transfers in - General fund Total transfers

Change in net position

Total net position, beginning of year

Total net position, end of year

49,440 17.476 3.971

-5 816

16 863 418

59.255

153.239

(82,637)

-43

1490 1.533

(81.104)

150 737 42.566

193.303

112,199

690,361

S 802 560 $

37 275 11,279 4 644

-4 509

15,091 761

57,451

131 010

(58 230)

-33

-33

(58 197)

10.536 35 991 46,527

(11,670)

702 030

690.361


11

Village of Rosedale, Louisiana Statement of Cash Flows

Proprietary Fund Year ended December 31, 2012 with summarized comparative totals for 2011

Busmess-type Activities Enterprise Fund - Water System

CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers Cash payments for goods and services Cash payments for salaries

Net Cash Provided by (Used for) Operating Activities

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in from general fund

Net Cash Provided by (Used for) Noncapital financing activities

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES. Capital contnbution from general fund State grant funding for capital projects Acquisition and construction of capital assets Gam on sale of captial assets Net Cash Provided by (Used for) Capital and Related Financing Activities

$

2012

69.688 S (48,926) (42,566) (21.804)

42.566 42,566

150,737

(160 369) 1,490

2011

73 110 (44 338) (30,413) (1 642)

35 991 35 991

10 536

(21,156)

(8 143) (10,621)

CASH FLOWS FROM INVESTING ACTIVITIES Interest on Investments Net Cash Provided by (Used for) Investing Activities

INCREASE (DECREASE) IN CASH

CASH AND CASH EQUIVALENTS, BEGINNING CASH AND CASH EQUIVALENTS, ENDING

RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES Operating income (loss) Adjustments to reconcile operating income to net cash

provided by (used for) operating activities Depreciation Net Changes in Assets and Liabilities -(Increase) decrease in accounts receivable - customers (Increase) decrease in prepaid expenses (Increase) decrease in due from other funds Increase (decrease) in accounts payable Increase (decrease) in advances from customers Total adjustments

Net Cash provided by (used for) operating activities

Cash and Cash Equivalents Cash on hand Cash in checking accounts Cash in LAMP

The accompanying notes to the fmanciaf statements are an integral part of this statement

43 33

$

43

12 662

54,171 66.833 S

33

23 762

30 409 54 171

(82.637) $ (58.230)

$

s

s

59,255

592 -60

2 015 (1,189) 60,833

(21,804)

100 36 947 29.786 66,833

S

S

S

57 451

520 (465) 51

(777)

(191) 56.588

(1.642)

100 24,328 29.743 54,171

12

Village ot Rosedale. L ouisiana Noieb lo the [ inantial Siaiemcms

As oi and for the vear ended Decenibei* 31. 2012

Introduction

Ihe Village ol Rosedale was incorporated August 2. 1*)55 under the pto\isions ot litlc 33 Chapiei 2. Pan 1. ol ihe I ouisiana Re\iscd Slalules (l.awiason Act - Act No 36 of 1898) Ihc "Village' opeiales uiidei a Mayor - Hoard ol .'Mdernicn loiiii ol go\einmcm and provides the lollowmg seuiees as authoii/ed by iis chailei public safely (police and fire) highwavs and stieets. sanilaiion tLXiealion. public unpio\enienis. and geneial administiali\e seiMces Ihe Village is located in IbeiMlle Paiish. Louisiana and htis a piipulalion of 793 Ihe Boaid of Aldeinicn is conipiiscd of ihiec per^oiii, and the Village has 15 employees

Ihe Village's llnaneial sialcments are piepaied in accordance with geneialK accepted accounting piinLiplos in the United Stales >l Amenta (CiAAP) applicable lo stale and local govcinniLnis 1 lie (io\einmeiilal Accounung Standards lioaid (CiASB) is the accepted siandaid-sclting bod\ toi establishing govcinnicnlal accounting and fmancial reporting principles Ihe stgnilkani accounting <\\Ki icpoitiiig policies and piaelices used b> the Village aie desciibed below

1 Suminan of Si<>niricant Accounting Policies

A F<.cporting Intil)

1 he Village's LOinbined fuitincial stalements include the atLOunls ot all the Village s opeialioiis 1 IK ciileria lot including oigani/alions as Loinponent units within the Village's repoiiing cniiiv as set toilh in Section 21(i() ol CiASB's CodifiLUlton nj Gowinnicntal luttnnnn}: ami I inannai Rcpoi Un i Slamliif ds include

• ihe oigani/ation is legally sepaiale (can sue and be sued in then own name) • the Village holds ihe corpoiale poweis ol the oigam/ation • the Village appoii.ls a \oling maiorit> ot the oigani/ation s board • the Village is able lo impose its will on the oigani/alictn • ihc oiganiAilion has ihi, potential Ut impose a financial benej'ii/buiden on ihe Village • iheie IS llscal dependency b> the oigani/alion on the Village

GASB Stalomenl No )4 J he Rcpoitm^i Lnnt\ established ctitciia toi deleinunmg the itoveinmenlal repoiiing Lnlii\ and componenl units thai should be included wiihm the reporting eniit\ UiidLi pioMsit>ns ol ihis Siatenient the tlnancial statements nuisi piesent the Village (pimiar) gowtnmeni) aiid its components Puistiani lo this cMtcnon no component units \\c\c idenliHed toi inclusion in the accompansing financial sialemenis

The accompan>mg tinancial statements piesenl infoimaiion onl> on the tunds mamiained b\ the Village of Rosedale

13

Village of Rosedale. Louisiana Notes lo the I-'inancial Statements

As ol and for the yeai ended December 3 \ 2012

Summan' of Significant Accounting Policies

B Basic Financial Statements Government -Wide Statements

I he Village's basic financial statements include both government-wide (reporting the Village as a whole) and fund financial statements (lepoiling the Village s majoi kinds) Both the go\crnnienl-wide and tund llnancial statements eategori/e primarv aeiivities as eithei govemmental oi business ivpe Ihc Village's police and \ut: proleclion paiks and lecieation public works and geneial adnnmstiative seivn.es aie Llassitlcd as govcinnicnlal activities Ihe Villages watei ser\ ices aie classitlcd as business-ivpe aclivilies

In the government-wide Siaiemenl ol Net Position both the govemmental and busmess-ivpe activities Lolumns are presenled on a const>lidalcd basis bv column and aie lepoited on a lull accmal. economic resouue basis, which lecogiu/cs all loiig-lerm assets and leceivables as \\d\ as long-let m debt and obligations

I he Village ulili/es lesliieted lesouices \o finance qualilving acliv ities

Ihe goveinmeni-wide Siaiemenl ol 'NcUvitics reports boih ihe gioss and nei eosi ol each ol ihe Village's tunetions and business-lypc activities Ihe net costs bv Umclion ate noimallv coveicd by gt^neral leveiuic Ihe Statement of Activities reduces gross expenses (uKluding depiecialion) bv lelaled pu>giam levenues. operating and capital giants Piogitim levenues must be diiectlv associated with ihe lunclion (public satety. public woiks and geneial administrative, etc ) ot a business-tvpc acliviiv Opeialmg giants include opeiatmg-specillc and discretu»nar> (eilhei opeialing oi eapital) gianls while the Ciipital giani column lepoils eapiial-specillc gianls I Ins govemment-wide tocus is moie on ihe siislamabilitv ol ihe Village <is M-\ entilv and the change in the Village s net posiiion lesultmg liom thecuiicni \eai s aclivuies

As a geneial lule. the elleci ot miertund aclivitv has been eliminated liom ihe goveinmenl-wide llnancial statements

Piogiam levenues - Program revenues included m the column labeled Siatenient of Aetiviiies aie derived directly from Watei Svsiem users as a lee foi seivices. piogiam levenues reduce the cost ol the tunclion to be financed Inim the Village s geneial revenue^

http://seivn.es

Village of Rosedale. Louisiana Notes to the I inancial Slatemenis

As ol and foi the \cai ended Deeember 31 2012

1. Summan of Significant Accounting Policies (Continued)

(' Basic Financial Statements - lund I inancial Statements

Ihe financial transactions of the Village ate repoited in individual tunds in ihe financial statements fach tund is accounted toi by pioviding a sepaiale set ol sell-balancmg accounts thai eomprises lis assets liabilities. leseives fund equilv levenues and e\peiidiluies/e\penses

the emphasis in fund financial statements is on the ma|oi tunds in eithet the govemmental oi business-type aciiMties c ilegories Nonmajor funds by caiegoiv aie summaii/cd into a single column (the Village currently has no nonmajor lands) GASB No 34 sets loith minimum ciileiui (peiceniage ol assets, habiluies revenues (M c\pendituies/e\penses ol eilhei lund caiegoiv oi the goveinmenial and enieipnse Lombined) lot deleitnmaiion o! ma|o» lunds Ihe kind piesenied in the llnancial statements isdeseiihed as follows

Govemmental 1 unds (iovcrnmenlal lunds are ihose ihiough which general goveinmenial funcuons ol the Village aic financed Ihe locus ol the govcmmeiual kind's mcasuiemcnt (in the fund slatemenis) is upon delerminalion of llnancial position MKI Lhanges in llnancial position (souices. uses and balances ot cuiienl financial resouiees) lalher than upon net income Ihe Village repoiis these maioi governmental tunds and tund types

General 1 und •• Ihc Geneial I-und is the main opeialing tund ol the Village It is used lo account for all flnancitil lesouices not accounted foi in other tunds All geneial la\ leveiuies and olhei leccipis ihai aie not resiiicled by law oi coniiaciual agieemeni lo some olhei lund aie accounted for in this fund Geneial opciatmg expcndituies. fixed charges and capital impiovciiient costs ihai aie not paid ihiough olhei funds are paid Irom the Geneial 1 und

Special Revenue 1-und - the Special Revenue I-und is used to account for the pioceeds ot spccille leveuue lesouices (other than assessments, expendable tiusis oi maioi capital pio|eeis) that aie legall) resiricled to expcndiiutes loi specific puiposes

Special Revenue i unds

• 1 ire Piolcclion - to account foi the collection and distiibution ol ptoceeds ot the 2/3 percent paiish sales tax allocated to the Village oi Rosedale toi fiie piotection

LCDBG Housing Piogram - lo account for the leceipt and disbursement ot tederal gram tunds passed through the Stale ol Louisiana lot the rehabilitation ol substandard lesidences within the Oepol Park aiea ol ihe Village

Village of Rosedale Louisiana Notes to the I-inancial Statements

As of and for the vear ended Dcccmbei 31. 2012

1. Summary of Significant Accounting Policies (Continued)

C Basic Financial Stalements - hund Financial Statements

Capital Pioiects funds - ate used lo account financial rcsouices to be used foi acquisition or consiruction of maior capital facilities (other than those financed bv propueiaiv tunds oi iiusl funds)

1 he following capital pioiecis aie reported m the Capital Pioiecls 1 und

Project

Sidnev Road Drainaee

Ikiidlc Rd Drainage

Tiansporialion 1 nhancemenl Piouiam

handing

Village of Rosedale and 1 ouisiana CJIIlce ol C4>mmunil> Development (I GAP)

Village of Rosedale and tiS Depaiiment of Housing and HI ban Development passed through the Siale of I ouisiana OtTiceot Community f)evelopmeni

Village of Rosedale and I'S Depaitmeni ot f lanspoiiation passed ihiough the Louisiana Depailmtnl ol I lanspoilation

Ila/aid Miligaiion Grant l^rogiam Village ol Rosedale and US Depaitmeni ol Homeland - Canal Diainagt Security passed thiough the Governoi s Office of 1 lomeland

Security and 1 mergency Preparedness

Piopnciaiv 1 und Ivnes Propiietary funds aie accounted \o\ on a flow ot economiL lesouiees mea«.uiemenl tocus 1 be accounting obiectives are a deteiminalion ol net income, financial position and changes m casli flow MI assets dnd habthlies associated V\MII a Pjopiieiaiv 1 iind's aclivilies arc included on its balance sheet the lollowmg aie the Village's Piopiictatv 1 unds

Fnierprise lund - Used to account tor operations that aie financed and operated in a manner similai to private business enterprises whcie the costs (expenses, including depreciation) of pioviding water seivices lo the general public on a continuing basis aie financed through usei chames

Village of Rosedale Louisiana Notes to the Financial Statements

As of and for the yeai ended December 31 2012

I. Summan of Significant Accounting Policies (Continued)

D Basis of Accounting

Basis of y\ccounting icfeis to the point at which revenues ot experidituies/expenscs aie lecogni/ed in ihe accounts and iepc>iled in ihe financial statements II is telated lo the timing ol the measuiemcnts made legaidless of the measuremeni locus applied

Acciual Both govcrnmental and business-type aetivities m the goveinmeni-wide tlnaiKial stalements and the propnelaiy fund financial stalements aie presented on the accmal basis of accounting Non-exchange revenues, including inteigovernmental levenues and grants are lepoiied when all eligibility requiiements have been met Fees and chaiges and oihei exchange levenues ate lecogni/ed when earned and expenses are iccogni/ed when incuried

Modified Accrual Ihe governmental fund financial statement is piesenied on the modilled accrual basis of aLcounting Undei the modified accrual basis of accounting, levenues aie lecoided when susceptible to accmal, le bolh iiKMsuiable and avaiLible \vailable" means collectible within ihe cuirent peiiod oi within (>() davs after veai-end Inteigoveinmental leveiuies and grants arc recogni/ed when all eligibilil) tequiiemeiits aic met and the leveiuics aie available 1 xpenditures ate geneiallv lecogm/ed when the lelated habililv is meuiied 1 xeeplions to this geneial lule include principal and interest on general obligation long-ieim debt, if anv is lecogmzed when due. and employee vacation and sick leave, which aie lecogni/ed when due and payable

L Useof Lstimales

Ihe preparation of financial stalements in conloimiiy vviih geneiallv accepted accouniing principles lequiies management lo make estimates and assumptions thai allecl the leported amounts of assets and habthlies and disclosure ol contingent assets and liabilities al the dale ot the financial slatemenis and ihe repoited amounts ol revenues and expendituies during the lepoitmg peiiod Actual lesulls could diltei foim these estimates

I Defining Opeialing Revenues and Lxpenses

The Village s propiietary funds distinguish between opeialing and non-opeiating levenues and expenses Operating levenues and expenses ol the Village s vvalei kind consists of ehaiges tt>i services and the costs of providing those services including depreciation All olhei levenue.s and expen.ses aie leported as non-operating

17

Village oi Rosedale. Louisiana Notes to the I inancial Statements

As of and for the year ended December 31. 2012

Summan of Signiilcant Accounting Policies (Continued)

G Comparative Iniormaiion

Ihe financial statements include pnoi vear ^ummaii/cd compaialive iniormation in total Such information does noi include sultlcient detail to constitute a piesenlalion in confoimiiv with geneiallv aceepted actounting principles Accoidingly. such inloimation should be tead in coniiinction with the Village's financial stalements tor 2011 trom which the summaii/ed mftiimation was derived

II Impact ot Recentlv Issued Accounting Pimciples

RcLCiUlv I w u c d a n d \dop lcdAtLOuni in^ Pionoi inccnicnl^

In May 2009 the GASB issued Statement 54. i'umlBahmcc Rcf}t)inn}^ und (uncinincntul hinhl ly/K' Dcfinihons GASB S4 requires the use of new fund balance classifications <ind clarifies existing governmental lund type definitions I he requiiements ol this statement aie etleclive loi finan..ial slatemenis foi peiiods beginning aftei lunc 15 2010 fhe Village adopted GASB Statement 54 in fiscal yeai 2011 Required disclosuie is lepoited in \o ie 7

In DtLcmbei 2010 the GASB issued Statement 6"! rinnnmil Rcfuninisi of DcfciwdOutflow s ,)f Rcs(>/nLC\ DcfcncdInihiw s of Rcsouucs and \cf Position GASB 63 piovides guidaiKC loi lepoiimg deteired ouillows ol lesouiecs deteried intlows ol lesources, and net position in a statement of tlnancial position and lelated disclosures I he statement of net assets is renamed the siaiemenl ot net position and includes foui componenis assets delciied oulflt>ws ot icsouices liabilities and deleired inllows ol resouiees fhe piovisions of this Suitement ate effective foi financial statements lor periods beginning aftei Decembei 1 5. 2011

I Cash and Invesimenls

Stale sialiitcs authon/e the V;llage ol Rosedale to invest in (iniied Stales bonds lieasurv notes and bills, oi eerlificates oi lime deposits ol slate banks organized undei 1 ouisiana law and national banks having piincipal offices in I ouisiana In addition local governments in 1 ouisiana are aulhotized to invest in the Louisiana Asset Management Pool Inc (1 AMP) a non-piofil coipoiation organized undei the laws of the State ot Louisiana Onlv local govemment enliiies having coniiacied to participate in I AMP have an investment inleiesl in its pool of a^sels Ihe priniaiv obiective of LAMP is to piovide a sale envnonmenl foi the pfaeemeni of public funds in shorl-ierm. high qualitv investments the LAMP poiltolio includes onlv secuiilies and othei obligations in v^hlch local governments m Louisiana are authoiized to invest in accoidanee wiih LA-RS33 2955

Village of Rosedale. Louisiana Notes lo the Financial Slatemenis

As ot and for the year ended December "51 2012

1 Summan' of SigniFicant Accounting Policies (Continued)

I Statement ot Cash 1-lovvs

For purposes of the Statement of Cash Flows, the Ptopneiarv Fund consideis cash balances above the day lo day needs and tunds set aside foi portfolio stialegv leasons invested in demand deposits eerlificates of deposit, obligations of the U S Ireasurv fedetal agencies oi T S government instrumentalilies with oiiginal maturities ot 90 davs oi less to be cash equivalents Invesimenls in Li>uisiana Asset Managemenl Pool (LAMP) are alsti consideied cash equivalents LAMP assets are resiiicled lo maturities of 90 days or less, at balance sheet dale

K Acct)unis Receivable

All receivables aie repoited net ot esiimated uncollectible amounts

1, Invenloiies and Piepaid Items

All mvenlones are valued at cost Certain payments to vendois leflect costs applicable to lutuie accounting periods and aie recorded as piepaid items in bolh govemmenl-wide and business-t>pe kind financial stalements

M Capital Assets

Capital assels. which include pioperty. plant equipment, and mfiasimctuie assets (eg roads, bridges, sidewalk and similai items), are lepoiied in the applicable governmental or business-ivpe activities columns in the government-wide financial statements Capital assets aie capitalized at histoncal cost or estimated histoncal cost Coniiibuted assets aie lepoited al ILUI inaiket value as ol the dale leceived

Additions improvements and other capital outlavs that signiflcantlv extend the useiiil life of an assei are capitalized Ihe Village mainiains a thieshold level ol S.sOO oi more for capitalizing capital assets The co.sts oi noimal maintenance and lepaiis that do not *.K\d to the value ol the asset 01 materially extend assels lives are not capitalized

Geneial intMsiiueluie asset.s acquired prior to Octobei 1 2003. aie not lepoited in the basic financial stalements (ieneiaf inlrasiructuie assets include all loads budges and oihei mfiastmcture assets acquired subsequent to Ociober 1 2003

.Maior outlays toi capital assels and improvements aie capitalized as pioiecls are constructed Inleiesl incurred dunng the constiuciion phase of capital assets ol business-tvpe activities is included as pait of the capitalized value ol the assets constructed Duiing the cuircnt fiscal veai no inleiesl was incurred in the capitalized pioiecls

19

Village of Rosedale, Louisiana Notes lo the Financial Statements

As of and for the vear ended December 31. 2012


M Capital Assets (Continued)

Depreciation on all assets is provided on the siraight-line basis over the h)llowing esiimaied useful l l V i » S lives

Buildings 40 Yeais Land improvements 20 Yeais Water dislnbution svsiem 20 Yeais Movveis tiaciors and attachinenls 15 Yeais I lie tmcks 15 Yeais Fire fighting equipment 10 Yeais I ight tmcks & equipment 5 Yeais

N Comi?ensaied Absences

hmployees ot the Village cam personal leave (vacation t>i sick leave) al vanous tales depending upon length ol employment fhe maximum leave time which ma> be accumulated is M\ amount equal lo the number of days which can be earned by the emplovee dunng a iwentv-lour month penod Fmplovees who lesign oi lelne o] who are dismissed fiom emplovment shall not be paid toi acciued leave

Compensaloiv leave mav be earned bv a kill-lime emplovee and b> the municipal cleik (undci ceiiain conditions) al lime and one-hall lor oveiiime woik and tor woik required on tin obseived holidav whenever the employee or clerk is not paid compensation tor such woik An> cmptovee who acciLies two hundred foity hours of compensaloiv leave shall, foi Am additional ovettime houis 01 woik. be paid oveitime compensation at lime and one-hall laie Upon sepaiation each emplovee shall be paid the value ol his acciued compensaUtiv leave in a lump sum

O Cioveinmenl-wide and Piopnetary I und Net Assets

Government-wide and piopnetary fund net assets are divided iiUo ihtce components

• Net Investment in capilai assets - consist ot the histoncal cosl of capital assels less accunuilaied depiecialion and less any debt that lemains outstanding that was used to finance ihose assets

• Restricted net position - consist ol net position that is teslncled bv the Village's credilois by the state enabling legislaiion (thiough lesliictions on shared levenues) bv giantors (both tederal and state) and by any othei contiibulois

• Unrestricted - all other net position is leported in this caiegoiv

20

Village of Rosedale, Louisiana Notes lo the 1 inancial Slatemenis

As of and lor the year ended Decembei 31. 2012


P Governmental Fund Balances

In ihc goveinmenial tund llnancial stalements. fund balances aie classified as tolhnvs

• Nonspendable - Amounts that cannot be spent eithei because ihev are in a nonspendable loim or because they are legallv oi conlracluallv lequiied to be maintained intact

• Resiiicled Amounts that can be spent onlv toi specific puiposes because of Village Code stale 01 tedeial laws oi externally imposed conditions bv granioist)i cieditois

• C ommiiied - Amounts thai can be used onlv loi specific puiposes deleimined bv a loimal action bv Village oidinance oi resolution

• Assigned - Amounts that are designated bv the Mayoi tot a paiticulai puipose but aie not spendable until a budget ordinance is passed ot theie is a maiontv vt)ie appioval (tor capital pioiecls or debt service) by Village Board of Aldermen

• Unassigned - All amounts not included in othei spendable classifications

Q USCCJI Restriclcd Resources

Resiricled oi unieslncted amounts aie considered spent when an expendiluie is mcuiied foi pur[')oses tor whwh both lesincied and unrestncted fund balance is available C ommitted amounts would be leduced first, followed by assigned amounts, and then unassigned amounts when expendituies aie incuired toi puiposes toi which amounts in anv ot these uniesliicled fund balance classifications could be used

R Intcrfund Activiiv

Inleriund activity is repoited iis either loans, seivices piovided. leimbuisements oi iiansters Loans are repoited as inierfund receivables and payables as appiopiiate and are subjccl to eliniination upon consolidalion Services piovided. deemed lo be at maiket oi neai maikei lates aie Heated as revenues and expenditures/expenses Reimbuisemenls aie when one lund incurs a cosl charges the appropiiaie benefiting tund and reduces its related cost as a leimbuisement All othei intcrfund liansaclions aie treated as iransfeis lianslers between governmental oi between propiietaiv funds ate netted as pail of the reconciliation lo the gtnernment-wide financial sttitemenis

Village of Rosedale. I ouisiana Notes to the Financial Statements

\ s of and loi the vear ended December 31. 2012

2. Stewardship, Compliance and Accountability

The Village toliovvs these procedures in establishing the budgetary data refiected in these financial slatemenis

1 A proposed budget is piepaied and submitted by the Mavoi and submitted to the Boaid ot Aldeimen prioi to the beginning ot each fiscal vcai Ihe pioposed budget summaiv is published in the official louinal and made available toi public inspection \ public heaiing is called lo obtain laxpayei comments

2 the budget is adopted thiough passage ol an oidinance piioi lo commencement of the flNcal veai tor which ihe budget is being adopted

1 Ikidgetaiv amendments involving the transfei oi kinds from one depaitmeni piogiam oi function to another or involving increases in expendituies lesulling fiom levenue^ exceeding amounts estimated requiie appioval from the Board ol Aldermen

4 Budgets lot the General and Special Revenue Funds aie adopted on a CiAAP basis iheteloie these tunds utilize the same basis ot accounting loi bolh budgetai> purposes and actual lesulls Ihe Statement of Revenues. Fxpendiluies and Changes in 1 und Balance - Budget and Actual -presents a comparison of budgetary data and actual results ol opeiaiions h>r which budgets aie legally adopted The Special Revenue Fund • LCDBCJ Flousing Piogram and the Capital PiO|ecls Funds aie budgeted ovei the lile of the pioiect and nt)l on an annual basis iheieloie budgetary data loi this fund has not been presenled in the accompanving financial statements

5 All budgetaiy appiopriations lapse at ihe end ol each fiscal yeai 6 1 he level ol budgetaiv contiol is total appiopnalions

X Deposits and investments

Cash and Cash equivalents include Cash on hand, pellv cash bank accounts and shoit-teim investments See Note 1 (II) and (I) foi addititinal cash disclosure mtoimaliiui Al December 31 2012 the Village had cash and cash equivalents (book balances) lolalmg S850.584 comprised ot the following

Petty cash Checking accounts LAfWP

2012 100

188 700 661 784

850 584

S

S

2011

100 151 193 737,376

888 668

(\istodial Credit Risk - Deposits

Custodial credit risk is the risk that in event of a bank failuie the Village's deposits mav not be leuimed Deposits aie exposed to custodial credit risk il thev aie either (a) uninsured and uncollateiah/ed oi (b) uninsuied and eollaieialized with secunlies held bv the pledging financial institution or it's liust department/agent but noi in the name ot the Village

Village of Rosedale, Louisiana Notes 10 the financial Statements

As ot and foi the year ended Decembei 31. 2012

3. Deposits and Investments (Continued)

State law lequires that the Village deposits be tullv secured by fedeial deposit insurance oi the pledge of securities owned by the bank The fan value of the pledged secunlies plus the fedeial deposit insuiance must at all times equal or exceed the amount on deposit with the bank

Deposits in financial institutions leported as components ot cash and cash equivalents had a bank balance ot $1'M.023 al December 31. 2012. which was fully insured by federal deposit insurance

Investments held ai Decembei 31 2012 include $661,784 invested in the Louisiana Asset Managemenl Pool Inc (LAMP) (see Summarv of Significant Accounting Policies) Ihel AMP poitfoho includes only secunlies and other obligations in which local governments aie aulhoii/ed lo invest m accoidanee witiil A-RS33 2955

Investment Ciedil Risk LAMP is lated AAAm b> Standard's <t Poor's

I he doll.ir weighted aveiage portlolio malunly ot I AMP assets is resiiicled lo not moie ihan 00 davs. and consists ot no secunlies with a malunly m excess ol 307 davs i AMP is designed lo be highlv liquid to give Us participants immediate access lo then account balances Ihe invesimenls in I AMP aie staled al lair value based on quoted maiket rates 1 he fan value is determined on a weeklv basis bv LAMP and the value oi the position in the external investment pool is the same as the value of ihe pool shaies I AMP Inc is sub|ect to the legulalory oversight ot the state lieasurer and the board ol diieclois LAMP IS not legistered with the SI C as an investment companv

4. Ueccivables

Receivables at December 31 2012 aie as lollows

Iberville Parish Sales Tax S

Franctiise tax

State of Louisiana -

Beer tax

Highway Maintenance

Office of Community Development

Governor's Office of Homeland Security

Customer accounts

Less Allowance for uncollectible

ac<:ounts

Net receivaoles S

General

^_Fund

48 738

7 332

228

3 745

-

60,043

Special Revenue l.CDBG

Fire Protectron Housing

S 10 022

-

$ 10 022

S

--

3 000

, S 3 000

Capital

Projects

S

--

67 823

21082

S 88 905

Enterprise Fund -

Water System

S

-

----•

7 058

.0 U31 . S 5 879

S

S

Total

5&760

7 3 : 2

??8

3 7«i5

70 823

21 082

-. 058

^ 1 ^ '79:.

167 849

Village of Rosedale. Louisiana Notes to the 1 inancial Stalements

As o( and for the vear ended l^ecembei 31 2012

5. intcrfund Transactions

A summarv ol inieilund receivables and payables at Decembei 31. 2012 and inleriund transfers durinii 2U12 tollows

Interfund Receivables/Payables

Capital Enterprise General Special_ Revenue Projects Fund

LCDBG Fund Rre Protection __Housiri3_ \/arious WaterSystem Totals

Due from ottier funds

Due to other funds

21 182 S

(761) (21 182)

761 S 21 943

(21 940)

Totals 20,421 $ S (21 182) S 761 S (0)

)ue to/due hom accounts aie used for short term tlnancmg between lunds

Interfund Transfers ln/(Out)

General

Fund

Special Revenue LCDBG

Fire Protection Housing

Capital Projects

Various

Enterprise Fund

Water System Totals

Transfers In -

Salaries

Operating

Capital projects

LGAP Project

Canal Drainage Imp Project

Hurdle Road Drainage Project

DOTD Gateway Enhancement

Water Tower Project

Totals

4 000 S

4 000 s

42 566 3 46 566

3 530

8 902

55 610

8213

76 335 S

---

J 50 737

193 303 S

3 580

8 902

556-0

8 213

150 727

273 609

Transfers (Out) -

Salaries S

Operating

Capital projects -

LCDBG Hurdle Road Project

DOTD Gateway Project

Canal Road Drainage Project

2011 LGAP S dney Rd Drainage

Water Tower Project

Totals S

(46 566) S

(55 610)

(8,213)

(3 902)

(3 580)

__1150,737)

(273 609) S

(46 566)

(55 610)

(8 213;

(8 902)

(3 580;

(150 7371

S 273 609)

24

Village of Rosedale. Louisiana Notes to the Linancial Statements

As oi and for the year ended Decembei 31. 2012

5. Interfund Transactions (Continued)

Transfers are used to (1) move revenues trom the fund that statute or budget requires to collect them to the fund ihat statute or budget requires lo expend them. (2) move unresiricled levemies collected in the general fund lo I'lnance vanous piograms accounted toi in olhei tunds in accoidanee with budgetary aulhoi i/aiions

1 he Village allocates lo the Special Revenue and Lnleipiise I unds a percentage ot salaries and wages and related costs ot personnel who perloim seivices tot the lire Depaitmeni and Watei Svsiem but vveie paid through the CJeneial I und

6. Capital Assets

A summarv ol the capital assets associated with the goveinmenial lunds aie as lollows

Governmental Activities

Non-depreciabte Land

Construction in progress

Total Non-depreciable

Balance

12/31/2011

S 151373

95 926

247 299

Increases

587 739

587 739

Decreases

Balance

12/31/2012

S 151 373

683 665

835 038

Depreciable

Buildings

Improvements other ttian buildings

Machinery & equipment

Total Depreciable

7otat Capital Assets

742 479

1 238 630

1 293 761

3 274 871

3 522 170

4 713

35 731

40 445

628 184

(76 005)

(76 005)

(76 005)

747 192

1 238 630

1 253 488

3 239 310

4 074 349

Less Accumulatec depreciation

Buddings

Improvements other -han buildings


lotal

Net Book \/alue

285 550

545 106

863 397

1.694 053 _

S 1,828,116

72 815

41 850

_ 151 524

216 189

(76 005) _

(76 005)

308 365

586 956

938 917

_ 1834 233_

$ 2,240.111

25

Village of Rosedale. Louisiana Notes to the 1 inancial Statements

Aso» and for the veai ended December 31 2012

6. Capital Assets (Continued)

Depreciation expense charged to functions of the pnmary government as follows

General government

Public safety - police & fire

Public services

Culture & recreation

s

s

11 439

28 175

69 167

7_409

216 189

A summaiv ol propiietary tund Ivpe piopeilv. plant and equipment at Decembei "il 2(112 tollows

Rnterpnse 1 und - Watei Sv stem

Business-type Activit ies

Non-deprectabl(» Construction in progress

Total Non-'jepreciabte

Depreciable

Distnbution syi lem


Total Depreaabte

Total Capiral Assels

Less Accumulated depreciation

Distribution system


Total Accumulated depreciation

Net Book Value

Balance

12/31/2011

S ._967_5

9 675

1 304 806

59 605

1 364 411

1 374 086

69 / 133

39 692

736 825

$ 637.261

Increases Decreases

26- '082 _

7 107

__ 7 107

53019

5 236

59,255

Balance

12/31/2012

S 276 757

276 757

1 311 913

59 605

1 3/1 518

1 648 275

750 152

45 928

796 080

$ 852,195

26

Village of Rosedale Louisiana Notes to the hinancial Slatemenis

As ol and for the vear ended Decembei 31. 2012

7. Fund Balance

GASB NO 54 defines lund balance as either nonspendable. lesiucted. commuted assigned and tti unassigned based primaiily on the e\lent lo which the Village is bound to observe consiiaints imposed upon the use ot the resourced in the governmental tunds Ihe consiiaints placed on lund balance loi the maioi governmental lunds aie piesenied as follows

Total Capital Projects

Fund Balances

Nonspendable -

Restricted for -

Sales and use tax restrictions

Total fund balances restricted

Committed

Advances fcr Capital projects

Unassigned

Total Fund balances

S

S

General

_fund

-

._ -

144 759

423 737

568 496

- — Special Revenue LCDBG

Fire Protection tlousing

S

S

S

278 458

278 458

-"

278.458 S

Various

Governnental

Funds

s

278458

278 458

144 759

423 737

702 195

S. IV^nsion Plans

Municipal Lmplovees Retirement System -

Plan DiSiH/yiion Subslanliallv all of the Village ol Rosedale's eligible lull lime emplovees participate in the Municipal 1 niployees' Ketiiement Svsiem ("MI RS") - Plan " \ " a cost shaung muliiple-emplovei dellned beneCit pension plan administeied bv the 1 ouisiana Municipal hmplovee s Retirement System All Village full-time empIovee> aie eligible lo ptirticipate in the Sv>icm LmpUivt.es who ILIIIC al oi altei age " 5 with "lO vcMrs ol ciediled scivice and at oi altei (>() with 10 years ot credited seivice aie eiililled to a retnement benefit payable monlhlv loi hie equal to .' "1/ oi then final compensation foi each veai ot cieditable seivice I inal compensation is the emplovee's average highest compensation toi ^d consecutive months Benel'its lullv vest on leaching 10 veai^ ot service Vested employees may letue befoie age 60 and receive reduced leluemeni benefits Ihe System also provides death and disabilit) benefits Bencllts are established bv Stale statute Ihe Municipal Lmployees" Retirement System issues a publicly available financial lepoii ihat incUides tlnancial statements and leqiarcd supplementarv inloimation loi MLRS 1 he lepoil mav be obtained bv calling 1-225-^)25-4810

http://LmpUivt.es

Village of Rosedale- Louisiana Notes to the 1 inancial Statements

As oi and foi the vear ended Decembei 31 2012

8. Pension Plans (Continued

Municipal hmplovees' Retirement Svsiem (Continued) -

Fiindin}^ Pohc\ Ihe pavroll lor employees coveied bv the System lor the veai ended December "il. 2012 was $167,344. the Village's total pavroll was S250 4'i8 Covered emplovees aie requiicd bv Slate slaluie to coniiibuie 9 25% ol then salaiy to the System Ihe Village is lequiied bv the same statute to contribute 16 75%/!7% ol the employee's eligible compensation monlhlv U) the Svsiem Ihe contribution lequiiement tor the veais ended December 31. 2012. 201 I and 2010 was $28 227 $28,274. and $34 105, respectively

9. Compensation of Village Officials

\ Detail ol compensation paid to the Mayoi and lioaid of Aldermen lor the vear ended Decembei 31 2012 tollows

Total Mayor -

Lawrence J Badeaux S 14 400

Members of the Board of Aldermen -Kevin Gantt 7 200 RandelJ Badeaux 7.200 Uana Alexander 7.200

21_600

S 36.000

10. Risk Management

Ihe Village is exposed to vanous risks ol loss lelated to torts, ihelt ol damage to and destruction ol assets, eirors and omissions, iniunes lo emplovees and ualuial disasieis Ihe Village has elected to purchase commercial insuiance to covei its exposuie lo loss Ihe Village is msuied up to policv limits tbi each of the above iisks fhere have been no significant leductioiis m coveiage letentions oi limits since the piioi year

28

Village of Rosedale. Louisiana Notes to the financial Statements

As of and for the v ear ended Decembei 31 2012

11. Judgments, Claims and Similar Contingencies

The Village's management believes that any potential claims would be covered bv insurance oi resolved without any material impact upon the Village's fmancial statements

12. Construction (.ommitments

Ihe Village of Rosedale had seveial capital pro|ects and lelaled liinding m vanous stages of progiess at vear tnd The following schedule details each project, it s status at veai end. and method o\ lunding using a combination ol tederal and state lunds and Village opeialing lunds All pending projects are expected to be approved and awaided

STATUS OF ACTIVE GRANTS

Name of Grant

Depot Park Housing Project

Canal Drainage Project

DOTD Transpoitation Project

Hurdle Rd Drairiage Project

2011 LGAP

2010 CWEF

2011 CWEF

Water Tower

2012 LGAP

2013 CWEF

Descript ion

Rehabilitatun of homes

Closrng canal at Depot Park

Welcome signs walkways

Drainage improvements

Drainage improvements Sidney Rd

Waterlines east of Highway 411

Waterlines - east of Highway 411

Water Towet

Drainage/s reet improvements

Waterlme improvements Griffin Subd

Status of Project CloseoJt to be requested Drainage studies ongoing

Design phase

Awaiting contract award

Constructicn in progress

Construction m progress

Construction m progress

Final stages

Awaiting bidding

Awaiting bidding

Amount of

Grant

S 529 500

508 300

193 325

719 C60

25 COO

25 COO

25 COO

841 £28

22 £00

27 SOO

S 2917013

Federal/

State Share

S 529 500

381 225

183 700

6 1 * 550

25 000

25 000

25 000

722 428

20 000

25 000^

S 2 548 403

Local Share

5

12 /075

9 666

1 0 ' 5 1 0

.?50C

2-53C

25 000

402 045

2 250

2500

S 706 046

As pail ol Its capital outlay piogiam. the Village has entered into vanous construction coniiacls \ l Decembei 31 2012, the Village has constiuciion commiimenis ol appioximatelv $144 75V pavable from local lunds toi engineeung tees and construction costs

13. Cooperative Endeavor Agreement

Ihe Village enleied into a C ooperative I ndeavoi Agieement vvith the Slaie ol 1 ouisiana. Division ol Administiaiion. Ottlce ol Community Developmenl-Disasiei Recoveiv linil to implement a gram under lae Commumiv Development Block Giant Disaster Recovci) Piogiam ihiougli the Municipalities Infiasirueture Piogram The aclivilies ol ihe program aie expected u> address municipalities unmet recovery needs by pioviding resouiees including lunding and lechnical assistance to assist municipalities in recovering fiom damage caused b) Iluiiicanes Ciustav and Ike and to nuiigate the potential of damage liom future storms Ihe Village will leceive tunding m the amount ol $611,550 fora drainage improvements proiect on lluidle Road

29

Village of Rosedale Louisiana Notes lo the 1 inancial Statements

As ol and lor the vear ended December 31 2012

14. Other contingencies

Ihe Village participates in several federal grant programs that are governed bv vanous lules and regulations ol giantoi agencies Amounts received or receivable liom giant agencies aie subject to audit and adjustment bv the giantor agencies Any disallowed claims, including amounts alieadv collected, may constitute a liability ot the applicable lunds Ihe amount, it an> which ma> be disallowed by the giantoi. cannot be determined at this lime, although the Village expects such amounts, it anv lo be immaterial Tor the vear ended December 31 2012 giant expendituies did no exceed the thieshold loi the single audit requiiemenl. ihereloie a single audit was not perloimed

15. Kconomic Dependence

the Village ol Rtisedale received 70% ol its total revenue fiom pansli sales tax Proceeds of the 1% sales lax aic to be used lor the purposes ol opening, consliiictmg paving and impioving stieeis sidewalks. loads and alleys, constructing bridges, purchasing or constiucting wateiwoiks sev\cis. drains, diainage canals, pumping plants, sewerage disposal works light and pov e plants, gas plants halls lails. tire depaitmeni^' stations, and equipment, hospitals, auduoiiums. public paiks. natatonums. libraiies docks vvhaives nvei terminals and othei public buildings including the necessary equipment and furnishings there for The 1% sales and use lax is used b> the Village u> pav the cost ot capital outlay pioiecls lo maintain and opeiatc public lacihties. to administer local governments, and to piovide other lawful services AdditionalK. pioceeds ol the I'VY,} sales and use tax provided bv the Ibeiville Parish Ct)Uiicil is dedicated for llie protection loi the Village

16. Subsequent Events

Subsequent events vveie evaluated through June 25 2013 which is the dale the tlnancial stalements were available to be issued II was determined that ihe following significant event lequiies tlisclosuie thiough this date

Potential Capital Asset Impairment • Dunng 2010 the Village enleied into a one veai lease loi land to be used as a burn site, with an annual lease pavment o\ $200 the lease expiied on lulv 26. 2010 and. as of the date of the financial statements has not been icnewed In 2009 2010 iind 2011. the Village expended a total ol S39.857 lor improvements lo leased piopeitv Ihe cost has been capitalized and is reported in the government-wide Statement of Net Assets as a capital asset and IS being depiecialed t>ver a peiiod ol 20 years with current >cai depreciation ol $1 )(){) lepoited in the goveinmeni-wide Statement of Activities

Ihe Village is negotiating the renewal of the lease and will exhaust all legal means lo letain use ol the properiv However, should all eflorls fail the capital asset net ol accumulated depreciation will be reported as an impairment loss in the goveinment-wide llnancial statements toi the peiiod this deteiminalion is made Iheie is no effect upon ihe tund llnancial slatemenis

30

KKQlJIkKI) SlIPPLKiVlK^ lAKY INFORMAl ION Uud«^etar> Comparison Schedules

V/illage of Rosedale, Louisiana

Budgetary Comparison Schedule

General Fund

For the Year Ended December 31 , 2012 with summarized comparat ive totals for 2011

Variance wi th

Revenues

Taxes and licenses


Cnarges for services

Fines & Forleitures

Interest income

Miscellaneous

Sale of capital assets

Total Revenues

Expenditures

General administration

Public safety - Pence

Public works - Streets & sanitation

Capital outlay

Total [Expenditures

Excess (Deficiency) of Revenues Over

Expenditures

Budqeted Amounts

Original

S 58 850

540 800

11 590

3 500

500

500

0

S

Final

59 010

578 150

11490

5 500

770

500

1 225

Actual Amounts

(Budgetary Basis)

S 50 345

588 960

10911

3 370

711

0

1,225

Final

Over

S

1 Budget

(Under)

(8 665) S

10B10

(1)79)

(2 31)

(59)

(500)

0

2011

Totals

6C343

644 131

12 29C

3 541

531

489

0

615.740

484 481

131 259

656 645

501 198

155 447

5bb 522

424 477

231 045

(1 123)

76 721

75 598

721 325

188 514

38 720

257 247

0

198 103

38 066

255 776

9 253

156 289

35 235

223 700

9 253

41 814

2 831

32 076

(0)

175 931

35 116

228 617

72 946

512611

208 713


Operating transfers (out)

Total Other Financing Sources (Uses)

Net Change in Fund Balances

Beginning Fund Bal.mce

Ending Fund Balance s

(47 051)

(47,051)

84 208

548,819

633.027 S

(90 179)

(90 179)

65 268

548 819

614,087 S

(273 609)

(273 609)

(42 563)

611059

568 496 S

(183 430)

(183 430)

(107 831)

62 240

(46 591) S

(163 099'

(163 099

45615

565 445

611 059 • - • — . . • =

Notes to Budgetary Schedule

1 Budget reflects Mcdified Accrual Basis of Acrounting

31


Budgetary Comparison Schedule

Special Revenue Fund • Fire Protection

For the Year Ended December 31, 2012 with summarized comparative totals for 2011

REVENUES


Interest incom3

Miscellaneous income

Sale cf capital assets

(otal Revente

Budqeted Amounts

Original Final

Variance with

Actual Amounts Final Budget 2011

(Budgetary Basis) Over (Under) Totals

123 400 S 123 538 S

250 350

0 536

0 0

123 650 124 424

124 715 S

311

536

0

125 562

1 177 5

(39)

0

0

135 897

209

0

0

138 136 106

EXPENDITURES

Public safety Fire

Capital outlay

Total Expencitures

Excess (Deficiency) of Re,/enue5 Over

Charges to Expenditureii

87 781

0

87 781

75 142

36 994

112 136

75 343

31 191

106 535

{20n

^803

seoi

61 347

33 374

94 721

35 869 12 288 19C27 6 739 41 385


Operating trarsfers (in)

Total Other F inancing Sources (Uses)

Net Change m -und Balances

Beginning Fund Balance

Ending Fund ESalance

Notes to Budgetary Schedule

1 Budget reflects Modified Accrual Basis cf Accounting

3 933 3 700 4 000 300 3 623

5

3 933

39 802

269 078

308 880 S

3.700

15 988

269 078

285 066 S

4 000

23 028

255 430

278 458 S

300

'040

(13 648)

(6 608) S

3 623

45 008

210 422

255 430

32

IM'OUMA I ION UKQIJIUKI) BY (iOVKUNlMKN I Al'DI 11N(; S I ANDAkDS

W. Kathleen Beard, CPA, LLC 10191 BiiecheRil. Biieche, LA 70729

Membe' Email Kbeardcpa(S)Vahoo com

American Institute of CPA's Tetephonp (??5} 627 4537 Louisiana Society of CPA's FAX (225) 62>-4b84

1M)KPENDEN 1 AUDITORS' UEPOR T ON IN lERNAL CONTROL OVER FINANCIAL REPOR riNG AND ON COMPLIANCE AND O IIIER MATTERS

BASED ON AN AUDIT OF 1 HE BASK FINANCIAL S lA II.MKN IS PERFORMED IN A( CORDANCE WITH GOVERNMENT AUDITING STANDARDS

lo Ihe llonoMhIu* Miivoi jnd Mcjnlxrs of IJJL Bo.ird ol Aldciintn

Vill.igcol Kusidalo 1 m:isi.iiia

I lui L' iiuditcd in (ii.(.i)rdaiKiK' uith (IK (Ludiliiiu, standaids gcnoiaily acLOpUd iii Ihe L'niii.d Staks ot AMILIIL.) and the standaids applicable lo tinancial audih Loniaincd in imsenvneni \uiliiiny. Slunt/uids issued b\ the C umplioller Cjeiieial ot the United States the tlnancial statements ot the uovcrnmental aelixnies liubiiies''-type atlivities and eaih iiiajoi lund o[ tlie Village ot Rosedale, Louismiia (Ihe "VI^«^^c") as ol and lor the year ended Decembei i | 2012 MK\ tiie lelaled nolts lo the t'lnaiKia! statements which colleetiveK tompiise the District s basic tlnancial siaiements and have issued im repoii ihcieon dated June 2> 201>

Inter mil ( on trot Over I manua l He/foitni»

In planning and perlonniir^ in\ audit ol the financial siaiements I LonsideKd the VillagL s inieinat contiol over tlnaiii.ial lepoitinu (mtt nal coniiol) lo detLitnine the audit prutedines that are appioptiaie in the ciiLUiiisiances loi the puipose ot evpressmg m\ opinions on the tlnancial statements bul iiol lor the purpose of espiessinji an opinion on the elte(.li\eness ol the Village s internal tontiol Accordingi> I do not e\piess M opinion on the etiectiveness ol the VillaLi. s internal eoniiol

A itcfiLiL'nL\ m intenw! lontml exists when the design or opoiation ol'a control dot-s not allow manageiiKiU oi enipKutL in the noimal n)urse ol peilomnng then assigned luiictions lo prevenl or detect and COIILCI misstaiemenis on a umel> haMs A nuiiefiiil \\ctikinf\^ l a derictencv oi a combmalion ot di-l"i(.ien\.ies m niiernal Lonirol siith th.n ilieu is a leasonable possibihl\ that a maleiial misslalenieiil ot the enlit\ s Hiiancial slatemenis will iiol be pixveniLd oi dwiecti d .ind coitecied on a limeK basis \ \i\inifivani i/cfmcnt^ is a detlcienc) or a Loinbinalion ol detlciencies in internal contiol that is less SL\(.IL than a mateiial weakness \et impoitant enough lo mLiil atkntion h> thosL (.haig^d with govemance

M\ consideration ot internal contiol was lor the limited purpose descjibed in the llisi paragiaph ol this section \ d wa-. not designed lo identify all dcHcicncies in intemal control that might be material weaknesses or significant deficiencies Cnven tliese liniitations dunng mv audit 1 did not identity any dellciencies m internal control that I conside? to be mauiial \NLaknesses Howevei matenal weaknesses mav e\tst that have not been idcntitled

Compliance and Other Matters

As part ol obtaining reasonable assuram-e about whether the Vdlage's llnancial statements are tiee ot maieiml niissiatement I performed tests of its compliance with certam provisions ot laws regulations contracts and grants noncomplianLC with which could have a diieci and material effect on the determination of tlnancial statement amounts However providing an opinion on compliance with those pro\isions was not an objective ot my audit and accoidmgK 1 do not e\piess such an opinion Ihe results of nn tests disclosed no instances of noncompliance that are requiied lo be icponed under Ooxcnimcnr l inhi 'n^ Siandai ds

Purpose uf this Ueport

Ihe purpose ot this repoit is SOILK to desciibe Ihe seopc ol m\ tesimg ol internal eoniiol and coinpliante and the KSUIIS ot that ksting and noi lo provide d\\ opinion on ihe etiectiveness of the Village s inteinal ton i io l ot on Lomphanee Ihis report is <in intLgral part ot an audit pLrtoinied in <iCLOidnnce with ( io\einmenl \udnin\i ^landuuh m consider ng Ihe Village s inli.rnal (.onliol and Loniphance Aceordingi> this eommunicalion is not suilable toi aii\ olhei puipose

Certified Public AccoLinlant Iimc25 201";

REPORTS REQLIRED BY OMB CIRC ILAR A-133

Village of Rosedale

Schedule of Expenditures of Federal Awards

For the year ended December 31, 2012

Grantor

Program Name

U S Department of Housing and Urban Development

Pass through Programs from

Louisiana Office of Community Development

Community Development Block Grant Program

Housing Rehabilitation Program

Disaster Recovery - Municipalities Infrastructure Program

CFDA

Number

Grant

Amount

Federal

Receipts

Federal

Expenditures

14 228

14 228

S 529 500 S

611 550

20.996 S

484 727

20.996

484 727

U S Department of Homeland Security-

Federal Emergency Management Agency

Pass through Programs from

Louisiana Governor's Office of Homeland Security and

Emergency Preparedness

Hazard Mitigation Grant Program 97 039 60 300 26 707 26 707

1 201 350 S 532 430 S 532.430

35

Village of Rosedale

Notes to Schedule of Expenditures of Federal Awards

For the year ended December 31 , 2012

Note A - Basis of Presentation

government for the year ended December 31 2012 The information in this Schedule is presented rn accordance with the requirements of OMB Circular A-133

Audits of States Local Governments and Non-Profit Organizations Because the Schedule presents only a selected portion of the operations of the

Village of Rosedale it is not intended to and does not present the financial position changes in net assets or cash flows of the Village of Rosedale

Note B - Summary of Significant Accounting Policies

(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting Such expenditures are recognized following the cost principles

contained m OMB Circular A-87 Cost Pnnciples for State Local and Indian Tnbal Govenments wherein certain types of expenditures are not allowable

or are limited as to reimbursement

(2) Pass-through entity tdentifying numbers are presenled where available

Note C - Subrecipients

There were no subrecipients

36

If. Kathleen Beard, CPA, LLC 10191 liiieLlti' K(l. liiiec/n: I. 1 711729

Member Email Kbearclcpa@Yahoo com American Institute of CPA's Telephone (?25) 627 4537 Louisiana Society of CPA's FAX (225) 62 '-4584

INDriTNDFNr AUDirOR'S RFPOR! ON COMPI lANCl TOR F ACII MAIOR PROGRAM AND ON INTl RNAL C ONTROi OVl.R COMPI lANCF RFQllIRRI) FY OMB CIRCl 'FAR A-1

lo ihL' Honoiahl"-* M.i>oi .UKI MLinbLrs ol ihir Board ol Aldtimcn

Village ot Kosrdalc 1 ouisiana

Kvport on Compliance for K»ch Ma jo r Federal Prot>niin

I have audited ihe Village oi Rosedale I ouisiana s LoniplianLe uilh the types ot Loniplianee lequirLiiients described in the OMii i i imliii l-ISI i nnipluinic Suppleineiu thai could have a diiect and material eltect on tatli ot HK Villaui, ut Kosedali 1 ouisiana s ni.ijoi kderal piogtanis tor the yeai ended December il 2012 Ihe Villaiic ol Kosedale 1 ouisiana s maior ledti. I programs are idenlifled in llie sumniai> ol auditor s results section ol Ihe acLonipam ing scln.duk ot lliidings and iiuesiioned tosls

Management's Re\pon\thiht\

Management i*- responsible loi coniplianec with the iec|uiretnenis ot laws regulaiu>ns coiuiacis and iiianis applkable to iis ledeial prograt is

\nditor\ Responsihihtx

M\ lesponsibitits is lo i.\pKss an opinion on eompliiinti. toi (..ILH ol the Village ot KoscdiiL I oul^lan.l s niiiioi ti.di.ial proguims based on nn audit of the i>pes ol compliance requHLments relerred lo above I conducted \w\ .ludit ot compliance in accouKuKe with auditing standaids geiieialK accepted in the United Slates o\ America the siandards appliLabk lo tuiancial audits (.ontaineJ in inneinmeni Aiidiiiny, SloiuUnds issued b\ the Comptiollei General ot the I nited States and OMB CirciiLii A-IVi li/(///v of Slates Loud (hncnmicnfs und ,\on-l'iufn (h\ianizalion\ Those standaids and OMB Ciiciilai A-133 lequiie that I plan anj pertoim the audit to obtain reasonable assurance nboul whethei noncompliance with the t\pes ol compliance lequremenis rcterreJ lo above that could liavi. a direct and material el'lect on a major federal program occurred An audit includes e\amining on a le'.i basis evidence about Village ol Rosedale Louisiana's compliance with those loquirements and peilorming such oilier pioeeduKs as we consideied necessaiy in Ihe circumsiances

I believe ihai i ly aiidii pio\idcs a teasonable basis loi m> opinion on complianee tor each m.i|iM tedeial progiain llowLver oi.i aiidil does not provide a legal deteiinination ot Village ot Rosedale Louisiana s compliance

Opmioii on Each .Major hederal Pro^ratn

In my opinion Village ot l<o:>ed<ile I ouisiana complied in all material lespects with the tvpes ot compluinee lequirenient^ lelerred to abov'e that could have a direct and material eltcet on each of its maior fedeial progianis loi the \ear ended F)eeember" 1 2012

37

http://ti.di.ial

Report on Internal Control 0 \ e r Compliance

Munagement ot Village ot Rosedale Louisiana is responsible tor cstablishn^g and maintanimg effective micriial coiUiol o\e compliance wiih the types ol complianee requirements letened to above In planning and perjonning oui audit ol compliance I considered Village of Rosedale I ouisiana s internal contiol over compliance with the tvpes ol requiiements that could ha\e a direct and material etfeci on each majoi tederal progiam to dcrermme the auditing proceduics that are appropnate in thi circumstances lor the purpose of expressing an opinion on compliance foi each majoi federal program and to test and leport on internal control ovei coiiiplidnce in accordance with OMB Circular A-133 but not tor the puipose ol expressing an opinion on tht cifectivencss o'" internal control over compliance Accoidingly I do not express an opinion on the ettectivcneis ot Village ot Rosedale Louisiana s mleinal control over compliance

M\ consideration ot internal contiol ovei compliance was lor the limited purpose described in the pieceding paragraph and wa' not designed to ldenllt^ all deficiencies in iniernal control ovei compliance* thai might be malenal weaknesses oi signitlcan delleiencics and theretoic malenal weaknesses oi signitlcant detkicncies may exisi that weie not ideniil'ied Howevei a*, discussed helov I idenliHed certain deficiencies in internal contiol over complianee thai I eonsider to be matenal weaknesses ami signifieant detu lencies

A defiiienc) in iiuennd contiol O\L'I ioinpluiULc exists when the design or opei.ition ol a control ovei compliance does noi allow management oi emplovees in the noimal course ol perloiming iheir assigned tunetions to pieveiii or deieci and correct noncompliance wuh a type ot eompliance requirement ot a tederal program on a iimelv basis A iiunoud weakncw in inieuui' Lontiol o\er lontphiuKC is a dellciencv or combinaiKm ol dellciencies in inteinal control o\ei compliance such that iheie is n reasonable possibililv that materi.d noneomplianee with .1 lype ot compliance lequiiemeni ol a lederal piogram will not Ix prevented 01 drleeled and eorieeted on a timelv basis I eonsider the detleiencies in inleiiuil eonliol ovei eompliance deseiiticd 11 ihe aceompanving schedule ol llndings and questioned costs as items 2012-1 to be matenal weaknesses

Village ol Rosedale I ouisiana s response to the inienial contiol over complianee identilled in m> audit is dcscnhed m tlu accompanying ,chedulc ot tlndings and questioned cosis Village ol Kosedale. 1 ouisiana s lesponse \\as noi sub|ecied to ihi auditing procedjres applied in the audil ol compliance and accordingly I express no opinion on the response

The purpose ol this report on intemal control over compliance is solely to desciibc the scope ol tiui lesting ol imcrnal coniiol ovei compliance anc the results ol that testing based on the lequirements ol OMB Circular A-133 Accordinglv ihis report is noi suitable lor anv other purpose

7{/. XatUeeti Seand Cerlil'ied Public Accountant June2•^ 2013

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Village of Rosedale. Louisiana Schedule of Findings and Questioned Costs

Summary of Auditor's Results For the year ended December 31, 2012

Fmancial Statements

Type of auditor's report issued Unqualified

Report on Internal Control and Compliance Material to the hinancial Statements

• Matenal Weaknesses GYes • No Significant deficiencies D Yes • No

• Noncompliance Material to the I'lnancial Statements nVes • No

Federal Awards

Internal Control over major federal awards

• Material Weaknesses • Yes u No Significant Deficiencies D Yes • No

iVpe of auditor's report issued on compliance for major Programs Unqualified

Any findings disclosed that are required to be reported in accordance with section 510(a) ot Circular A-133 • Yes D No

Identification of major programs

CKDA Number Name of Federal Pronram or Cluster

14 228 U.S Department of Housing and Development Community Development Block Grant - Stales Program

- Housing Rchabihtation Program - Disaster Recovery Program - Municipalities Infrastructure Program

• The threshold for distinguishing Type A and B programs was program expenditures exceeding $300,000

• Village of Rosedale does not qualify as a low-risk auditee

• Managemenl letter issued' n Yes • No

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Village of Rosedale Louisiana Schedule of Year Findings and Questioned Costs As of and for the yeai ended Decembei 31 2012

Findings and Questioned Costs - Major Federal Award Programs

Internal Control - Material Weakness

14 228 Community Development Block Grant - States Promam - Muncipalities infrastruclure Pionram

2012-1 Suspension and Debarment

C nteila lo protect public interest, the Tederal Government ensures the inlcgiity of I cderal programs b\ conducting business only willi responsible persons 24 CFR Part 24 icquires that contracts noi be made with parties on the General Services Administration's hxcliided Parties List System (LPl S) in accoidanee with I Os 12549 and 12689 "Dcbaiment and Suspension* The I PLS. which is mainiained b> the General Services Administration on the internet at wwwepls uov. recentU leplaced b\ the S>sicm I'oi Award Management (SAM) found al www SAM uov 1he list contains the names ol parties, debaired. suspended o: otherwise excluded by agencies, and contractois declared ineligible undci staiutoi\ or regulator) aiithorit) other than FO 12549 Covered transactions under this pail include Lontiacis loi goods or services and the amount is expected to equal or c\ceed $25 000

Statement ot Condition 1 heie was no documentation supporting the veiificdlion oi applicable conlracior and subconlr.iclors status with I PI S/SAM (negative search lesult)

Questioned Cost Unknown

Cause 'I he cause of the condition is the failure to design and implement policies and piocedurcs necessary to achieve adequate inteinal contiol ensuring compliance with fedeial rcquiiemcnls, including maintaining supporting documentation of procedures pei formed

I'fleet or Potential 1 llect Parties that were suspended or debarred could have been paid wilh federal tunds resulting in disallowed costs

Recommendations Develop and implement policies and procedures for \eiificalion ol excluded status of all appltcaole persons or entities paid with lederal lunds Print negative seaich lesuli of *no record found"

Views of Responsible Otficials See Managements Coi recti vc Action Plan (page 42)

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Village of Rosedale. Louisiana Schedule of Prior Year Findings

As of and for the vear ended December 31.2012

Section I - Internal Control and Compliance Material to the Financial Statements

2011-1 Personnel Pohcv (Repeat Finding)

Condition Ihe Village's personnel policy is so ambiguous that it provides hitle guidance or constraint and does not require approvals by supei visors and/oi Mayor necessarv for a strong inteinal control s> stem

Resolution I he personnel policies have been updated and rex ised

2011-2 Util ty system - Lack of Segiegation of Duties. Reconciliations and Adjiistment Approvals

( ondilion The Utility Clerk is responsible for billing customers, collecting customer pavments posting payments to the utility program, preparing daily cash receipts louinal. preparing bank deposit, and reconciling bank account Addilionally payment legisleis were not reconciled lo indi\ idiial bank deposits and there is no requirement tor approval ol adjustments to customei accounts

Resolution Ijtility payment register are reconciled with deposits

2011-3 Violation ot LRS 39 1303 -'Local Budget Act"

( onditioii Actual expenditures were 39% over budget in the Special Revenue fire Pioteclion I und Budget amendment presenled did not include appropriation h>r purchase ol rescue tuick costing $32.211 and was not accompanied b\ a pioposed budget adoption insUument

Resolution' All BudgeLs, original and amended, are accompanied bv a budget adoption insliument ate amended on a timely basis

2011-4 Puichase of vehicle not appropriately titled preliminaiN title wotk dated pnoi to public bid advertisement, expcndituie of funds not authoii/ed in the budget (see 2011-3)

Condition 1 he Village purchased a fire lescue vehicle from a local vendor costing $32.211 I he vendor's ownership was evidenced by assignment of title trom the oiiginal registcied owner, howevei the title was not appropriately titled to the vendor at the time of sell lo Village of Rosedale

Resolution fhe vehicle m question has been properly titled lo the Village ol Rosedale and puichasing policies and procedures have been adhered to

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Village of Rosedale Management's Corrective Action Plan

As of and for year ended December 31,2012

Findings and Questioned Costs - Major Federal Award Programs

Internal Control Material Weakness

14.228 Community Development Block Grant - States Program - Disaster Recovery- Municipalities Infrastructure

Response to 2012-1 Finding

The Village of Rosedale gives its written assurance that for all future federally funded programs, it will verify, prior to the contract award, if contracted entities are eligible for participation according to Executive Order 12549, 24 CFR 85 35 and 24 CFR 84 13, essentially the Village of Rosedale will check for debarment, suspension or other exclusion from award and maintain documentation of search and result

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