Comprehensive Annual Financial Report - St. Tammany Parish ...

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St. Tammany Parish Department of Finance P. O. Box 628 Covington, LA 70434 Phone: (985) 898-2513 Fax: (985) 898-5238 E-mail: finance@stpgov.org Kevin Davis Parish President June 30, 2011 To the Members of the St. Tammany Parish Council Covington, Louisiana State law requires that all general-purpose local governments publish, within six months of the close of each fiscal year, a complete set of audited financial statements. Pursuant to that requirement, we hereby issue the comprehensive annual financial report of St. Tammany Parish Government for the fiscal year ended December 31, 2010. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal control that it has established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. LaPorte Sehrt Romig Hand, a firm of licensed certified public accountants, has issued an unqualified (“clean”) opinion on the St. Tammany Parish Government’s financial statements for the year ended December 31, 2010. The independent auditor’s report is located at the front of the financial section of this report. Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A complement this letter of transmittal and should be read in conjunction with it. Profile of the Government St. Tammany Parish (the Parish) was named shortly before Louisiana became a state in 1812 for Tamaned, a famous Delaware Indian chief renowned for his virtue and other saintly qualities, dubbed St. Tammany, the patron saint of America, by his admirers. St. Tammany Parish is located in southeast Louisiana and encompasses 854 square miles. St. Tammany Parish is a political subdivision of the State of Louisiana. The citizens of St. Tammany approved and adopted the Home-Rule Charter establishing a “President-Council” form of government on October 3, 1998. This Home-Rule Charter took effect January 1, 2000. This form of government provides centralized services, coordinated planning and a more efficient administration. The Parish President is the Chief Executive Officer and head of the executive branch. The 3
Legislative Branch of the Parish consists of 14 Parish Council members, one from each of the 14 Districts. Both the Parish President and the Parish Council members are elected by the voters to serve four-year terms. The Parish provides a full range of services, including construction and maintenance of roads, bridges and other infrastructure, water and sewer services, animal control, public safety services such as permitting and inspections, general governmental functions such as area planning and zoning, and environmental services. St. Tammany Parish is financially accountable for thirty-five special districts (component units) located within the parish. These districts are comprised of fire districts, a communication district, recreation districts, drainage districts, sewer and water districts, a mosquito abatement district, as well as the Parish Library system and the Parish Coroner’s office. A more detailed discussion of the entire reporting entity is included in Note I.A. in the Notes to the Financial Statements. The annual budgets, both operating and capital, serve as the foundation for the Parish’s financial planning and control. All departments of St. Tammany Parish are required to submit requests for appropriation to the Finance Department by the end of July each year. The Finance Director uses these requests as a starting point for developing the proposed budgets. The Parish President, Chief Administrative Officer, and Assistant Chief Administrative Officer review the proposed budgets. The Parish President then submits the proposed budgets to the Parish Council at least 90 days prior to the beginning of the fiscal year. The Council is required to hold a public hearing and publish the proposed budgets in the official journal at least 10 days prior to the hearing. The appropriated budgets are prepared by fund and department in the General Fund and the Parish Road Maintenance Fund. For all other funds, which do not have departments, budgets are prepared by fund. Department heads may make transfers of appropriations within a department (or fund if no departments). Transfers between departments, however, require the approval of the Parish Council. Budget-to-actual comparisons are provided in this report for each individual governmental fund for which an appropriated annual budget has been adopted. For the General Fund and all major special revenue funds, this comparison is presented as Required Supplementary Information. The comparisons for major capital project funds are presented immediately following the combining and individual fund Schedules as part of the Budgetary Comparisons section. For all non-major governmental funds, the comparison is in the fund financials for the fund type. Local Economy The economy of the Parish is primarily residential, bringing an influx of retail and service establishments, corporate headquarters and shopping centers. Residents are employed in a variety of diverse industries ranging from agriculture to space age technology. St. Tammany Parish’s transportation accessibility, low business costs, availability of labor, a superb school system, low crime rate, and first-rate medical facilities encourage continued growth. Economic conditions improved in St. Tammany Parish during 2010. The 12-month expansion rate was 1.3%. Four of the five components making up the composite index increased during the year. Commercial building permits, employment, electric customer count and single family building permits were up by 4.8%, 1.7%, 1.1%, and .8%, respectively as compared to 2009. Total sales were negative during the first seven months of 2010 as compared to 2009 and positive during the last five 4
Page 1 and 2: Comprehensive Annual Financial Repo
Page 4 and 5: ST. TAMMANY PARISH GOVERNMENT COMPR
Page 6: Schedule of Compensation Paid to Co
Page 12 and 13: months of 2010. This increase was n
Page 15 and 16: ST. TAMMANY PARISH EXECUTIVE BRANCH
Page 17 and 18: ST. TAMMANY PARISH GOVERNMENT PRINC
Page 20 and 21: LAPORTE SEHRT ROMIG HAND CERTIfiED
Page 22 and 23: Management’s Discussion and Analy
Page 24 and 25: The Parish adopts annual appropriat
Page 26 and 27: At the end of the current fiscal ye
Page 28 and 29: Expenses and Program Revenues - Gov
Page 30 and 31: sales tax revenue stabilizes so tha
Page 32 and 33: Additional information on St. Tamma
Page 34: BASIC FINANCIAL STATEMENTS 27
Page 37 and 38: ST. TAMMANY PARISH, LOUISIANA State
Page 39 and 40: ST. TAMMANY PARISH, LOUISIANA Balan
Page 41 and 42: ST. TAMMANY PARISH, LOUISIANA State
Page 43 and 44: ST. TAMMANY PARISH, LOUISIANA Recon
Page 45: STATEMENT G ST. TAMMANY PARISH, LOU
Page 48 and 49: SCHEDULE H (continued) ST. TAMMANY
Page 50 and 51: STATEMENT I Recreation District No.
Page 52: STATEMENT J Fire Protection Distric
Page 55 and 56: ST. TAMMANY PARISH GOVERNMENT Notes
Page 57 and 58: ST. TAMMANY PARISH GOVERNMENT Notes
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ST. TAMMANY PARISH GOVERNMENT Notes
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The details of this $2,123,937 diff
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ST. TAMMANY PARISH, LOUISIANA Sched
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NOTES TO REQUIRED SUPPLEMENTARY INF
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SCHEDULE 7 Public Safety Health and
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ST. TAMMANY PARISH, LOUISIANA Combi
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NON-MAJOR SPECIAL REVENUE FUNDS Spe
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NON-MAJOR SPECIAL REVENUE FUNDS (Co
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SCHEDULE 10 continued 020 Environme
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SCHEDULE 10 continued 164 Lighting
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SCHEDULE 10 continued 401 Grants -
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SCHEDULE 10 continued 440 Grants -
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SCHEDULE 11 continued Final Budget
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SCHEDULE 11 continued 166 167 169 L
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SCHEDULE 11 continued 402 403 404 G
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SCHEDULE 11 continued 416 418 420 G
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NON-MAJOR DEBT SERVICE FUNDS Debt S
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SCHEDULE 12 237 Justice Complex Deb
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SCHEDULE 13 continued 249 Total Non
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NON-MAJOR CAPITAL PROJECTS FUNDS Ca
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NON-MAJOR CAPITAL PROJECTS FUNDS (C
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SCHEDULE 14 continued 305 Capital S
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SCHEDULE 14 continued 320 GIS Capit
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SCHEDULE 14 continued 333 Parish Li
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SCHEDULE 15 continued ST. TAMMANY P
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SCHEDULE 15 continued 305 306 307 C
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SCHEDULE 15 continued 324 325 326 D
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INTERNAL SERVICE FUNDS Internal Ser
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SCHEDULE 16 continued 520 St. Tamma
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SCHEDULE 16 continued 587 Post Empl
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NON-MAJOR COMPONENT UNITS 175
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SCHEDULE 19 continued Fire Protecti
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SCHEDULE 19 continued Recreation Di
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SCHEDULE 19 continued Sub-Drainage
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SCHEDULE 20 continued Drainage Dist
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SCHEDULE 20 continued Net (Expenses
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SCHEDULE 20 continued Gravity Drain
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BUDGETARY COMPARISONS 189
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OTHER SUPPLEMENTARY INFORMATION 193
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SCHEDULE 24 ST. TAMMANY PARISH, LOU
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SCHEDULE 25 335 TOTAL Sub-Drainage
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ST. TAMMANY PARISH GOVERNMENT Capit
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ST. TAMMANY PARISH, LOUISIANA Detai
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ST. TAMMANY PARISH, LOUISIANA Debt
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ST. TAMMANY PARISH, LOUISIANA Debt
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STATISTICAL SECTION (UNAUDITED) Thi
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TABLE 1 2007 2006 2005 2004 2003 $
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General Revenues and Other Changes
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TABLE 3 Fiscal Year 2006 2005 2004
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TABLE 4 Fiscal Year 2007 2006 2005
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ST. TAMMANY PARISH, LOUISIANA TAX R
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ST. TAMMANY PARISH, LOUISIANA PRINC
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ST. TAMMANY PARISH, LOUISIANA DIREC
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ST. TAMMANY PARISH GOVERNMENT, LOUI
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ST. TAMMANY PARISH, LOUISIANA RATIO
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ST. TAMMANY PARISH GOVERNMENT TABLE
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ST. TAMMANY PARISH, GOVERNMENT DEMO
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TABLE 18 ST. TAMMANY PARISH, LOUISI
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TABLE 19 2006 2005 2004 2003 2002 2
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SINGLE AUDIT SECTION 251
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LAPORTE SEHRT ROMIG HAND CERTIFlED
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LAPORTE SEHRT ROMIG HAND CERTIFIED
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ST. TAMMANY PARISH, LOUISIANA SCHED
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ST. TAMMANY PARISH, LOUISIANA SCHED
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(Accrued) Unearned (Accrued) Unearn
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St. Tammany Parish Department of Fi
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