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

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ST. TAMMANY PARISH GOVERNMENT Notes to the Financial Statements 2010 December 31, 2010 INDEX Note I Summary of Significant Accounting Policies A Reporting Entity .................................................................................................................... 48 B Government-wide and Fund Financial Statements ............................................................... 48 C Measurement Focus, Basis of Accounting, and Financial Statement Presentation ............... 49 D Assets, Liabilities, and Net Assets or Equity 1 Deposits and Investments ............................................................................................... 51 2 Receivables and Payables ............................................................................................... 51 3 Inventories ....................................................................................................................... 52 4 Restricted Assets ............................................................................................................. 52 5 Capital Assets Policy ...................................................................................................... 52 6 Compensated Absences .................................................................................................. 54 7 Long-term Obligations ................................................................................................... 56 8 Fund Equity .................................................................................................................... 56 9 Comparative Data ........................................................................................................... 56 10 Estimates ......................................................................................................................... 56 Note II Reconciliation of Government-wide and Fund Financial Statements A Explanation of certain differences between the governmental fund Balance Sheet and the government-wide Statement of Net Assets .................................................. 56 B Explanation of certain differences between the governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances and the government-wide Statement of Activities ............................................................. 57 Note III Stewardship, Compliance and Accountability A Budget Policy ........................................................................................................................ 58 B Excess of Expenditures over Appropriations ........................................................................ 59 C Fund Deficits ......................................................................................................................... 59 Note IV Detailed Notes on All Funds A Deposits and Investments ...................................................................................................... 59 B Receivables ........................................................................................................................... 61 C Capital Assets ........................................................................................................................ 62 D Contractual Commitments .................................................................................................... 64 E Inter-fund Transfers, Receivables and Payables ................................................................... 65 F Accounts, Salaries and Other Payables ................................................................................. 66 G Leases .................................................................................................................................... 66 H Long-term Debt ..................................................................................................................... 68 Note V Other Information A Risk Management .................................................................................................................. 73 B Related Party Transactions .................................................................................................... 73 C Subsequent Events ................................................................................................................ 74 D Contingencies ........................................................................................................................ 74 E Extraordinary Event .............................................................................................................. 75 F Post-employment Benefits .................................................................................................... 75 G Other Post-Employment Benefits.......................................................................................... 77 H Retirement Systems ............................................................................................................... 78 I Recently Issued Accounting Pronouncements Not Yet Adopted .......................................... 79 47
ST. TAMMANY PARISH GOVERNMENT Notes to the Financial Statements 2010 I. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Reporting Entity St. Tammany Parish, Louisiana (the Parish) serves as the financial reporting entity for the Parish and is governed by an elected president and a fourteen-member council. The accompanying financial statements present the Parish and its component units, entities for which the government is considered to be financially accountable. The Governmental Accounting Standards Board (GASB) has set forth criteria to be considered in determining financial accountability. These criteria include: 1. Appointing a voting majority of an organization’s governing body, and a. The ability of the Parish to impose its will on that organization. b. The potential for the organization to provide specific financial benefits to or impose specific financial burdens on the Parish. 2. Organizations for which the Parish does not appoint a voting majority but are fiscally dependent on the Parish. 3. Organizations for which the reporting entity’s financial statements would be incomplete or misleading if data of the organization is not included due to the nature and significance of the relationship. Blended component units, although legally separate entities, are in substance part of the Parish’s operations. Discretely presented component units are presented in a separate column in the government-wide financial statements (see note below for description) to emphasize that it is legally separate from the government. Based on the previous criteria, Parish Administration has included the following component units: Discretely presented component units. The following list contains discretely presented component units and the reason for their inclusion: St. Tammany Parish Communications (911) District No. 1 1, 1(a) St. Tammany Parish Coroner 2 Drainage District Nos. 2, 4 1, 1(a) Gravity Drainage District No. 5 1, 1(a) Fire Protection District Nos. 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13 1, 2 St. Tammany Parish Library 1, 2 Mosquito Abatement District No. 2 1, 1(a) Recreation District Nos. 1, 2, 4, 6, 7, 11, 12, 14 1, 1(a) Sub-Drainage District Nos. 1 of 3, 2 of GDD 5, 3 of GDD 5 1, 1(a) Sewerage District Nos. 1, 2, 4 1, 1(a) Water District Nos. 2, 3 1, 1(a) Fund financial statements are included in the Other Supplementary Information section of this report for Recreation District Number 7 and Sub-Drainage District Number 1 of 3. Separate financials are not issued for these districts since St. Tammany Parish performs administrative and accounting services for these districts. All other discretely presented component units’ complete financial information can be obtained at the Office of the Legislative Auditor of the State of Louisiana, 1600 North Third Street, Baton Rouge, LA 70802, at the Legislative Auditors web site, www.lla.state.la.us/ or from St. Tammany Parish Government Department of Finance, P.O. Box 628, Covington, LA 70434. B. Government-wide and Fund Financial Statements The government-wide financial statements (i.e., the Statement of Net Assets and the Statement of Activities) report information on all of the activities of the primary government and its component units. For the most part, the effect of inter-fund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable. The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Also 48
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 10 and 11: St. Tammany Parish Department of Fi
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 57 and 58: ST. TAMMANY PARISH GOVERNMENT Notes
Page 65 and 66: The details of this $2,123,937 diff
Page 89 and 90: ST. TAMMANY PARISH, LOUISIANA Sched
Page 96 and 97: NOTES TO REQUIRED SUPPLEMENTARY INF
Page 98: SCHEDULE 7 Public Safety Health and
Page 101 and 102: 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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161
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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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ST. TAMMANY PARISH, LOUISIANA Sched
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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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