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

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ST. TAMMANY PARISH GOVERNMENT Notes to the Financial Statements 2010 service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. When both restricted and unrestricted resources are available for use, it is the Parish’s policy to use restricted resources first, then unrestricted resources as they are needed. D. Assets, Liabilities, and Net Assets or Equity 1. Deposits and Investments The Parish’s cash and cash equivalents include amounts in petty cash, demand deposits, and interest-bearing demand deposits. State law allows the Parish to invest in collateralized certificates of deposits, government backed securities, commercial paper, the state sponsored investment pool, and mutual funds consisting solely of government backed securities. The Parish maintains pooled cash and investment accounts that are available for use by all funds, except those restricted by statutes or other legal reasons. Investments for the reporting entity consist primarily of U.S. Treasury obligations and obligations of the U.S. agencies. Investments in obligations of the U.S. Treasury and agencies are reported at fair value. 2. Receivables and Payables Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other fund” (i.e., the current portion of inter-fund loans) or “advances to/from other funds” (i.e., the non-current portion of inter-fund loans). Receivables and payables between the primary government and discretely presented component units are disclosed separately from inter-fund balances as “due to/from primary government/component units.” All trade and property tax receivables are shown net of an allowance for uncollectibles. The Parish records 95% of property tax billed as collectible. Property taxes are levied on a calendar year basis. On July 1, 2010 the taxes were levied for the 2010 calendar year. They are due on December 31 st of each year, and are considered delinquent on January 1 st , which is the lien date. The millage rates for the various component units can be found in the Statistical section of this report. The following is a summary of Ad valorem taxes and Parcel fees authorized and levied by St. Tammany Parish: Taxes due for: Authorized Millage Levied Millage Expiration Date Alimony-Unincorporated 3.59 3.02 Indefinite Alimony-Incorporated 1.79 1.51 Indefinite Parish Drainage 2.17 1.84 2010 Library 6.33 5.38 2024 Parish Health 2.17 1.84 2013 St. Tammany Parish Coroner 4.00 3.40 2024 Animal Services 1.00 .85 2018 Council on Aging/Retarded Citizens 2.00 1.70 2018 Lighting District #1 5.18 4.17 2012 Lighting District #4 5.28 4.07 2012 Lighting District #5 3.66 3.17 2019 Lighting District #6 3.00 2.16 2015 Lighting District #7 5.29 3.01 2012 Lighting District #16 2.00 2.00 2017 Lighting District #9 Parcel fee 28.00 Parcel fee 28.00 2014 Lighting District #10 Parcel fee 50.00 Parcel fee 50.00 2014 Lighting District #11 Parcel fee 35.00 Parcel fee 35.00 2016 Lighting District #14 Parcel fee 100.00 Parcel fee 100.00 2017 Lighting District #15 Parcel fee 55.00 Parcel fee 55.00 2016 51
ST. TAMMANY PARISH GOVERNMENT Notes to the Financial Statements 2010 Sales taxes are due the month after sale and recognized in the month the liability is incurred. All sales taxes received by the Parish are dedicated for specific purposes outlined below: a. Pursuant to a tax proposition renewed by the voters on July 16, 2005, the Parish levies a two percent (2%) sales and use tax in Sales Tax District No. 3 (the District) through November 2031. This District includes all unincorporated areas of the Parish at the time the proposition was originally passed in 1986. Net proceeds are to be used for constructing, acquiring, extending, improving, maintaining and/or operating (i) roads, streets and bridges and (ii) drains and drainage facilities, including acquiring all necessary land, equipment and furnishings for any of said public works, improvements and facilities, and further including allocations to municipalities under intergovernmental agreements relating to annexations, revenue sharing areas and growth management areas. b. On January 17, 1998, the voters of St. Tammany Parish approved the levy of two one-quarter of one percent tax (total ½%) propositions. These two levies are to be used for the expansion and operation of a new jail and for the constructing, improving, operating and maintaining a St. Tammany Parish Justice Complex Center, respectively. These two ¼% sales taxes are levied parish-wide and are effective through March 2018. 3. Inventories For Mosquito Abatement District No. 2, inventory is valued at cost. Inventories consist of chemical, field, shop and laboratory supplies, and vehicle and aviation fuel. The cost is recorded as an expenditure at the time individual inventory items are purchased. Inventories at year-end are equally offset by fund balance reserves. Inventory at December 31, 2010 was determined using the first-in, first-out method (FIFO). Inventory for Water District No. 2 is stated at the lower of cost or market using the FIFO method. 4. Restricted Assets Primary Government Restricted assets on the balance sheets of the Sales Tax District No. 3 Debt Service Fund, the Justice Complex Debt Service Fund and the Jail Debt Service Fund represent the bond sinking funds and bond reserve funds, where applicable, that are required to be maintained pursuant to their respective Sales Tax ordinances. Restricted assets on the balance sheet of the Utility Operations Fund represent the bond sinking funds, bond reserve funds, and the Utility Revenue Bond Depreciation and Contingency funds. Fund balances, in the amount of the bond reserve funds, are reserved as these funds are legally segregated for a specific future use. Component Units The following discretely presented component units have restricted assets reflected within their financial statements: Water District No. 2 – Resolutions authorizing the issuance of Waterworks Revenue Bonds dated January 7, 1999, for $500,000 and General Obligation Refunding Bonds dated March 1, 2008 provided for certain restrictions of assets of Water District No. 2. These requirements have been met as of December 31, 2010. The additional amount of restricted assets consists of amounts held for meter deposits. Water District No. 3 – Restricted cash of $32,293 consisted of amounts held for meter deposits. 5. Capital Assets Policy Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable governmental or business-type activities columns in the governmentwide financial statements. Capital assets are capitalized at historical cost or estimated cost if historical cost is not available. Donated assets are recorded as capital assets at their estimated fair value at the date of donation. The capitalization threshold for infrastructure, such as road improvements, is $25,000 per project or subdivision, if newly donated. If the entire capital road improvement project is over $25,000, then each road in that project will be capitalized; likewise, for new roads taken into the maintenance system. For roads donated by subdivision developers, if the fair value of all of the roads in the new subdivision is over $25,000, then all new roads in that subdivision will be capitalized. If the value of any road met the threshold of $25,000, it was included in infrastructure regardless of the time that it was added to road inventory, including those infrastructure assets acquired prior to June 30, 1980. Only those roads in road inventory which were valued below the threshold were excluded from infrastructure. The 52
Page 1 and 2:
Comprehensive Annual Financial Repo
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ST. TAMMANY PARISH GOVERNMENT COMPR
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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 55 and 56: ST. TAMMANY PARISH GOVERNMENT Notes
Page 57: 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
Page 104 and 105: NON-MAJOR SPECIAL REVENUE FUNDS Spe
Page 106 and 107: 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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