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

ST. TAMMANY PARISH GOVERNMENT
Notes to the Financial Statements 2010
The difference of $504,051 between the investment balance on the Statement of Net Assets and this listing is due to Sub-
Drainage Dist. No. 1 of 3 and Recreation Dist. No. 7 taking part in the Parish’s investment pool.
The investments in the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal
Farm Credit Bank and the Federal Home loan bank all have a credit rating of AAA from Standard & Poor’s and Aaa from
Moody’s Investors Service.
Interest Rate Risk. The Parish does not have a formal investment policy that limits investment maturities as a means of
managing its exposure to fair value losses arising from increasing interest rates.
Credit Risk. State law limits investments to the following:
1. Direct United States Treasury obligations
2. Bonds, debentures, notes, or other evidence of indebtedness issued or guaranteed by federal agencies and provided
such obligations are backed by the full faith and credit of the United States of America
3. Bonds, debentures, notes or other evidence of indebtedness issued or guaranteed by U.S. government
instrumentalities, which are federally sponsored
4. Direct security repurchase agreements of any federal book entry only securities
5. Time certificates of deposit of any bank domiciled or having a branch office in the state of Louisiana, savings
accounts or shares of savings and loan associations and savings banks
6. Mutual or trust fund institutions which are registered with the SEC and which have underlying investments
consisting solely of and limited to securities of the United States government or its agencies
7. Guaranteed investment contracts issued by a bank, financial institution, insurance company, or other entity having
one of the two highest short-term rating categories of either Standard & Poor’s Corporation or Moody’s Investors
Service
8. Investment grade commercial paper of domestic United States corporations
The Parish has no investment policy that would further limit its investment choices.
Concentration of Credit Risk. The Parish places no limit on the amount the Parish may invest in any one issuer. The
Parish’s investment in the Federal Home Loan Bank, Federal Farm Credit Bank, Federal National Mortgage Association,
Federal Home Loan Mortgage Corporation, and certificates of deposit 62%, 23%, 11%, 1% and 3%, respectively.
B. Receivables
The primary government's receivables of $55,878,753 at December 31, 2010, are as follows:
Class of Receivable
Ad valorem/
Parcel Fees
Taxes
Sales and
Use Tax Other Tax
Inter-
Governmental Interest Other Total
General Fund $ 3,927,504 $ - $446,405 $ 634,222 $52,268 $409,497 $5,469,896
Library 8,043,413 - - 146,607 - - 8,190,020
Parish Road Maintenance - 6,122,823 - 371,621 65,817 154,146 6,714,407
STP Jail - 1,719,603 - - - - 1,719,603
Justice Complex - 1,719,603 - - 22,917 500 1,743,020
STP Coroner 5,083,200 - - 92,651 65 - 5,175,916
Capital Imp.Roads-General - - - 26,364 179,102 - 205,466
Disaster Relief - - - 7,595,527 37,867 - 7,633,394
Non-major Special Revenue 10,236,966 288,505 - 3,283,560 54,176 567,231 14,430,438
Non-major Debt Service - - - - 6,876 - 6,876
Non-major Capital Projects - - - 3,151,798 374,027 - 3,525,825
Enterprise Funds - - - - 22,403 756,132 778,535
Internal Service Funds - - - 128,779 100,156 56,422 285,357
Total $27,291,083 $9,850,534 $446,405 $15,431,129 $915,674 $1,943,928 $55,878,753
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