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

At the end of the current fiscal year, St. Tammany Parish is able to report positive
balances in all three categories of net assets, both for the Parish as a whole, as well as for
its separate governmental and business-type activities. The same held true for the prior
fiscal year.
Governmental activities. Governmental activities increased the Parish’s net assets by
$5,154,475.
Key elements of this increase are as follows:
St. Tammany Parish’s Changes in Net Assets
Governmental Activities Business-type Activities Total
2010 2009 2010 2009 2010 2009
Revenues:
Program revenues:
Charges for services $13,767,491 $13,250,892 $9,258,153 $2,979,866 $23,025,644 $16,230,758
Operating grants and contributions 18,772,107 10,883,718 - 76 18,772,107 10,883,794
Capital grants and contributions 12,877,559 15,538,504 - 625,668 12,877,559 16,164,172
General Revenues:
Property taxes 27,097,584 24,872,888 - - 27,097,584 24,872,888
Sales and use tax 51,699,305 52,024,479 - - 51,699,305 52,024,479
Other taxes 2,034,195 2,346,381 - - 2,034,195 2,346,381
State revenue sharing 292,125 272,060 - - 292,125 272,060
Federal payments in lieu of
Ad valorem 70,434 101,717 - - 70,434 101,717
Sale of revocated property 33,000 30,000 - - 33,000 30,000
Other 2,809,197 4,487,052 50,337 19,876 2,859,534 4,506,928
Total revenues 129,452,997 123,807,691 9,308,490 3,625,486 138,761,487 127,433,177
Expenses:
General government 18,145,039 17,652,244 - - 18,145,039 17,652,244
Public safety 28,719,942 20,415,372 - - 28,719,942 20,415,372
Highways and streets 39,582,188 52,059,250 - - 39,582,188 52,059,250
Sanitation 1,754,022 4,196,016 - - 1,754,022 4,196,016
Health and welfare 14,885,917 9,564,563 - - 14,885,917 9,564,563
Culture and recreation 15,911,265 10,142,970 - - 15,911,265 10,142,970
Economic development 405,937 180,307 - - 405,937 180,307
Interest on long-term debt 5,031,640 5,213,319 - - 5,031,640 5,213,319
Property management - - 727,791 733,655 727,791 733,655
Utility operations - - 9,090,165 1,705,427 9,090,165 1,705,427
Total expenses 124,435,950 119,424,041 9,817,956 2,439,082 134,253,906 121,863,123
Increase (decrease) in net assets before
transfers 5,017,047 4,383,650 (509,466) 1,186,404 4,507,581 5,570,054
Transfers 137,428 (6,885,928) (137,428) 6,885,928 - -
Increase (decrease) in net assets 5,154,475 (2,502,278) (646,894) 8,072,332 4,507,581 5,570,054
Net assets – Beginning of the Year 412,430,327 414,932,605 14,990,795 6,918,463 427,421,122 421,851,068
Net assets – End of the Year $417,584,802 $412,430,327 $14,343,901 $14,990,795 $431,928,703 $427,421,122
The most notable component of the variance between the 2009 and 2010 fiscal years is
the transfer of assets from governmental activities to business-type activities in 2009.
The increase in net assets before transfers is 14.4% more in 2010 than was reported in
2009.
Revenues increased by 4.6%, while expenses increased by 4.2%. The increase in
expenses is mainly due to a change in the way the Parish accounts for taxes levied by the
Parish and passed on to other entities. In 2008, the Parish began recognizing all taxes it
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