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ST . PA U L C ENT ER , IN C .

UA L F INAN C IA L STAT EM EN T

AR ENDED JUNE 30 , 199

Release Date ~ -,-!~L ~ i-

B

R E PORT O F IN DEPEN DENT CERT IFIE D PU BL IC A CCOUNTA NT

FINAN C IA L STA T EM ENT S Balance Sheet St at em ent o f Supp o rt , R ev enu e and E xp en ses and Ch anges in Fund Ba lances Statement of Functional Expenses

Notes to F inanc ia l Statem ents

S IN G LE AU DIT SECT ION

Independent Aud itor 's Report on Supp lementary In form at ion Schedu le o f Federal F inanc ial A ss ist an ce

Schedu le o f Federal F inanc ial A ssistance ce W ith d it o f

ccord ance

on Internal Controls w ith G ov e rnm ent

Page 3 Page 4 Page 5 Page 6 Page 7

Page 12 Page 13

Page 14 Page 15

Page 17

Independent Aud itor 's Report On Comp liance W ith

General Requirements Applicable To Major

Federa l F inanc ial A ss istance Program s

Page 17

Page 20

Page 21

Page 22

D onald C .D eV ille

CIJlqIFIID PlII;LJC At?(f)lIN IAN I 7E29 HLULBO NNII] [tLVD

BA1ON ROUGE,LO ULqlANA 70Sl0

(50,1)767-7829

IN DE PEN DENT AU D IT OR 'S R E PORT

August 6 , 1996

Sr . Kath leen Bah linger , Director The S isters o f St . Joseph -St . Pau l Center , Inc . Baton Rouge , Lou isiana

1996 , and the re lated statem ents and changes in fund ba lances , an ended . These financ ia l statem en Sisters of St . Joseph-St . Paul respons ib ility is to exp ress an based on my aud it .

30 ,

es

then

I conducted my aud it in accordance w ith generally accepted au d it ing st and ard s . T h o se stand ard s requ ire th at I p lan and p e r fo rm th e aud it to obta in reasonable assurance about whether the financ ia l stat em e n t s are free o f m at e r ia l m isstatem ent . A n au d ft inc lu de s ex am in ing , o n a

te st b a s is , ev id en ce sup p ort ing th e am ou nt s and d isc losu r e s in t h e

financial statements . An aud it also includes assessing the account ing p rinc ip les u sed and sign ificant est im ates m ade by m anagem ent , as w e ll

a s ev a lu at ing th e ov era ll financ ia l statem ent p re sentat ion . I b e liev e that my aud it p rov ided a reasonab le basis for my op in ion

In my op in ion , the financial statem ent s re ferred to above p resent fa irly , in all m ateria l respects , the financ ial posit ion o f the S isters o f St . Joseph -St . Pau l Center , Inc . as o f June 30 , 1996 , and the resu lts of its operat ions for the year then ended in con form ity w ith generally accepted account ing princip les .

In accordance w ith Governm ent Aud it ing Standards , w e have a lso issued a report dated October 31 , 1995 , on our considerat ion o f S isters o f St .

J o seph - St . Pau l Cent er 's inte rna l contro l stru ctu re and a rep ort dated October 31 , 1995 , on its comp liance w ith law s and regu lat ions ~

Resp ect fully subm itted

S ISTER S O F ST . J O SE PH - ST . PAU L C EN TER , IN C . BA LAN CE SH EET J UNE 30 , 1996

(With June 30, 1995 Comparative Balances)

O P E RA T IN G R E ST R IC T E D

PLAN T F UN D

TOTA L

A LL FUNDS

19 96

1995

A SSETS

CA SH A CCOU NT S R E CE IVA BLE G RA N T S R E C E IV A B LE EM PLOY EE W ITHO LD ING S DU E FROM OTH ER FU N DS

EQU IPM ENT , NET

INSURANCE DEPOSIT

$31 ,044

562

- 0- 01 1 ,4 4 0 - 0302

- 0- 0-

$1 1 ,44 0

- 0- 0- 0- 0-

$31,044 $32,076

5 62 1 ,04 2

1 1 ,4 4 0 1 3 ,2 2 1

- 0-

- 0-

1 1 ,4 4 0 13 ,0 58

1 5 ,6 92 8 ,5 39

302

501

TOTAL ASSETS

4 3 ,3 4 8

1 1 ,4 4 0

i 5 ,6 9 2 7 0 ,4 8 0 6 8 ,4 3 7

L IA B IL IT IE S A ND F UND EO UIT Y

L IA B IL IT IE S

ACCOUNTS PAYABLE

EM PLOYE E W ITBH O LD ING S DUE TO OTHER FUNDS

ESCROW - EM PLOYEE FUN DS

$972

15 - 0-

-0-

- 0-

- 0- 0-

- 0-

TOTA L LIA B ILIT IES

987

1 1 ,4 4 0

- 0-

$972

15

11 ,440

- 0-

$347

1 17 1 3 ,05 8

163

1 2 ,4 2 7 1 3 ,6 8 5

FUND EQUITY

FUN D BA LA N CES : UNRESTR ICTED PLAN T

TOTAL EQUITY

TO TA L L IA B ILIT IE S

AND FUND EQUITY

4 2 ,36 1 - 0-

42 ,36i

43 ,348

- 0- 0- 0-

1 1 ,4 4 0

- 0-

$15 ,692

15 ,69 2

4 2 ,3 6 1 4 6 ,2 1 3 1 5 ,6 9 2 8 ,5 3 9

5 8 ,0 5 3 5 4 ,7 5 2

1 5 ,69 2 7 0 ,4 8 0 67 ,7 1 1

TH E A C CO M PA N Y IN G N O T E S A R E AN IN T EG RA L PA R T O F T H IS ST A T EM EN T . 4

S ISTER S O F ST . J O SE PH - ST . PA U L CENTER . INC

S

UE EX PEN SE S AN D CHAN GE S IN FUND BA LAN CES

YEAR ENDED J UNE 30 . 1996

(With June 30, 1995 Comparative Balances)

CURRENT FUNDS O PERA T IN G RE STR ICTED

PLAN T F UN D

TOTA L

A LL FUNDS

199 6

1995

PUBLIC SUPPORT :

CONTRIBUTIONS

$35 478

GRA NT -FAM ILY SU PPORT

- 0-

GRA NT -LA BOR

- 0-

G RA N T - E DU C A T I O N

- 0-

G RA N T -CA R E ER N E T

- 0-

GRA NT -CSJ

I 000

- 0-

- 0- 0- 0- 0- 0-

$35 ,478

104 ,52 9 1 0 ,2 42 3 4 ,7 2 0 2 3 ,532 1 ,0 0 0

$26 ,116

1 15 ,4 17 9 ,0 3 3

2 8 ,8 12 - 0-

3 ,0 0 0

TOTA L PU BL IC SU PPOR T 36 478

17 3 ,02 3

- 0- 2 0 9 ,5 0 1 18 2 ,37 8

REVENUE : INT ERE ST IN COM E OTHER

601 2 ,8 4 8

- 0- 0-

- 0- 0-

601 2 ,8 48

598 2 ,37 9

TOTA L REV ENUE

3 ,4 4 9

- 0-

- 0-

3 ,4 4 9

2 ,9 7 7

TOTA L PUBLIC SUPPORT AND REV ENUE

3 9 ,9 2 7

17 3 ,0 2 3

- 0 - 2 12 ,9 5 0 18 5 ,3 5 5

EXPENSES :

PROGRAM SERV ICES : P I E DU CAT ION LA BOR CAREER NET

SU PPORT IN G S ERV ICE S MA NA G EM ENT

- 0- 0- 0- 0-

4 2 ,8 7 1

104 529

34 720 9 458

14 883

- 0-

- 0- 0- 0- 0-

104 ,52 9 3 4 ,7 2 0 9 ,4 5 8 1 4 ,8 8 3

3 ,18 8 4 6 ,0 5 9

- 02 8 ,8 1 2

9 ,0 3 3

2 4 ,4 8 9

TOTA L EXPENSES

4 2 ,8 7 1

1 6 3 ,59 0

3 ,18 8 2 0 9 ,6 4 9 17 7 ,7 5 ]

EXCESS (DEFICIENCY) OF

PUBLIC SUPPORT AN D

REVENUE OVER EXPENSE (2,944)

OTHER CHAN GES :

Equipment Additions

(908)

F U N D B A LAN C E , J U L Y 1 4 6 ,2 1 3

F UN D BA LA N C E , J UN E 3 0 4 2 ,3 6 1

9 ,433

(9 ,433 )

-0-0-

(3,188) 3,301 7 ,604

10 ,341

8 ,5 3 9 15 ,6 9 2

-0-

5 4 ,7 5 2 5 8 ,0 5 3

-0-

4 7 ,14 8 5 4 ,7 5 2

TH E A CCOM PA N Y ING NO TE S A RE A N INTEG RA L PA RT OF TH IS STA TEM EN T .

SISTERS OF ST JOSEPH " ST PAUL CENTER SUMMARY FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 1996

PROJECT NDEPENDANCE EDUCATION

LABOR

CAREER NET MANAGEMENT

TOTAL

SALARIES PAYROLL TAXES BENEFITS

~ 2,901 2,609 1,063

87,173

30,037 9,405 13,331

ACCOUNTING AUTO BANK CHARGES CASUAL LABOR EDUCATION MATERIAL EMERGENCY ASSISTANCE EOUIPMENI GIFTS INSURANCE JANIIORIAL MISCELLANEOU S OFFICE EXPENSE POSTAGE RENT

REPA IRS

SUPPLIES TAXES LICENSES FEES TELEPHONE TRAVEL SPECIAL EVENTS

2,200 0 O O

4,094 0

872 O 0

289 O

551 169 7,800 32 670

O 650 29

0

EXPENSES BEFORE DEPRECIATION

104,529

DEPRECIATION

O

0

0

TOTAL EXPENSES

I04,529

34,720 9,458

====== ==== ========== = == ====

$16,466 $149,203

1,190

6,425

1,417

3,391

19.073 159.019

O 1,820

235 378 411 7,579 2,275 927 328 170 4,171 500 1,819

O 542

384

1,111 131 740 277

2,200 1,820

235 378 7,540 7,579 3,147 927 328 459 4,171 1,112 2,040 10,200

574

1,054 1,111 1,172 1,118

277

42.871 206.461

3,188

3,188

46,059 209,649

========

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE FINANCIAL STATEMENTS

S ISTER S O F ST . J O SE PH - ST . PA U L C EN TER , IN C . NO TE S TO F INAN C IA L STA TEM EN TS JUNE 30 , 1996

NOTE #1 : SUMMA RY OF SIGN IFICANT ACCOUNTING POLICIES

A . O RGAN IZA T ION

The S isters o f St . J oseph - St . Pau l Cent er , Inc . (Center) is a

Lou is iana on -p ro fit corp orat ion , first b eg an in 198 3 a n d th e n incorpora d in 1987 to be operated exclus iv ely for ch aritab le and ed ucat ion p urp ose s , inc lud ing : ex tend ing educa t ioh a l

opportun i es to the adu lt popu lat ion be th ey free

o ffering cial serv ices w ith a specified area to t

financ ia l istress .

B . S tatem en t P resen t at ion

H ea lth and W e lfare -O rq an izat ion s

acco rdance

C e r t i f ie d o f V oluntary

C . Fun d A ccou n t in ~

To en su re ob serv ance o f lim itat ions and restrict ions p laced on the u se o f resou rces av a ilab le to the Center , th e a cc ou nt s o f th e

C e n t e r a r e m a in t a in e d in a c c o rd an c e w it h t h e p r in c ip le s o f fu n d

account ing . Th is is th e p rocedu re by w h ich res ou rc e s fo r v a r iou s

funds established accord ing to their nature and pu rp oses .

Sep arat e accou nt s are m a inta ined fo r each fu nd ~ A cc ord ing ly , a ll financ ial transact ions h ave b een recorded and

groups .

The assets , liab ilit ies and fund balance o f the Center are reported as follow s :

Current Funds :

Operating Fund - consists of assets (except land , buildings , and equipment) and public support and revenue available and used for

current operat ions and expend itures for cu rrent p rogram s , and am ounts designated by the Board of Directors for long term investm ents , equ ipm ent rep lacem ent , or other sp ec ific purp oses .

Restr icted Fund - consists o f assets ava ilab le to m eet current

Plant Funds :

Plant Fund - cons ist o f th e fixed assets o f the Center and am ounts d onated to ass ist w ith th e acqu is it ion , construction or renovat ion

o f fixed asset s .

S IST ERS O F ST . J O SEPH - ST . PA U L CENTER . IN C NOT ES TO F INANC IA L STATEM ENT S

J UNE 30 ~ 1996

NOTE #i:

R

D . Incom e Taxes

C CO UN T IN G PO L IC IE S (Continued)

E . A llo c ated Exp en se s

Expenses by funct ion have been a llocated among p rogram and adm in istrat ive serv ices c lassificat ions on the basis of t im e record s and on est imates m ade by the Center 's managem ent .

F . Fund R aisina Co st

Fund r a is ing cost are not cons idered sign ificant and are comb ined w ith m anagem ent expenses for the per iod presented .

G . Cash and Inv estm ents

C a sh an d inv estm en ts are stated at cost . Th e Cen t er m a inta ins its fund s in dem and and interest-bearing sav ings accounts insured by the FDIC .

H . A ccou n t s R e ce iv ab le

A ccounts receiv ab le are w r itten-o ff under the d irect w rite-o ff m ethod whereby b ad debt s are recorded when a rece ivab le is deem ed uncollect ib le . If they are sub sequently collected they are recorded as m isce llaneou s income .

The d irect charge-o ff meth od is not a m aterial departure from GAA P as it approx im ates the va luat ion method .

I . Prepaid

In su ran ce an d s im ilar serv ices w h ich ext en d ov er m o r e th an on e account ing per iod are considered immater ial and are exp en sed w h en pa id .

J . Inventories

Inventories in the op erat ing fund are considered immaterial and are recorded as expenses when purchased .

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