LAFAYETTE COUNCIL ON AGING, INC.
[Pages:57]LAFAYETTE COUNCIL ON AGING, INC.
Financial Report
Year Ended June 30, 2003
TABLE OF CONTENTS
INDEPENDENT AUDITOR'S REPORT
GENERAL PURPOSE FINANCIAL STATEMENTS (COMBINED STATEMENTS - OVERVIEW) Combined Balance Sheet - All Fund Types And Account Groups Combined Statement Of Revenues, Expenditures, And Changes
In Fund Balances - All Governmental Fund Types Combined Statement Of Revenues, Expenditures, And Changes
In Fund Balances - Budget (GAAP Basis) And Actual - All Governmental Fund Types Combined Statement Of Revenues, Expenditures And Changes In Retained Earnings - All Proprietary Fund Types Combined Statement Of Cash Flows - All Proprietary Fund Types Notes To Financial Statements
SUPPLEMENTARY INFORMATION
SCHEDULES OF INDIVIDUAL FUNDS
Combining Statement Of Program Revenues, Expenditures, And Changes In Fund Balance - General Fund
Combining Statement Of Revenues, Expenditures, And Changes In Fund Balances - All Special Revenue Funds
Combining Statement of Revenues, Expenditures, And Changes In Retained Earnings - All Proprietary Fund Types
Combining Statement of Cash Flows - All Proprietary Fund Types Statement Of Expenditures And Other Financing Uses - Budget And Actual -
Contracts And Grants Provided Through The Louisiana Governor's Office Of Elderly Affairs (GOEA)
INTERNAL CONTROL, COMPLIANCE, AND OTHER GRANT INFORMATION
Independent Auditor's Report On Compliance And On Internal Control Over Financial Reporting Based On An Audit Of General Purpose Financial Statements Performed In Accordance With Government Auditing Standards
Independent Auditor's Report On Compliance With Requirements Applicable To Each Major Program And Internal Control Over Compliance In Accordance With OMB Circular A-133
Schedule Of Expenditures Of Federal Awards
OTHER SUPPLEMENTARY INFORMATION
Schedule Of Changes In General Fixed Assets
Schedule Of Disbursements To Board Members
Summary Schedule Of Prior Year Findings
Schedule of Findings And Questioned Costs
Management's Corrective Action Plan For Current Year Findings
Page No. 1-2
4 5 6 7 8 9-29
32-33 34-37
38 39 40-41
43-44
45-46 47
49 50 51 52-54 55
(A Corporation of Certified Public Accountants)
INDEPENDENT AUDITOR'S REPORT The Board of Directors Lafayette Council on Aging, Inc. Lafayette, Louisiana
Eugene H. Darnall, CPA, Retired 1990 Paula D. Bihm, CPA, Deceased 2002
E. Larry Sikes, CPA, CVA, CFP Danny P. Frederick, CPA
Clayton E. Darnall, CPA,CVA Eugene H. Darnall, III, CPA
Stephanie M. Higginbotham, CPA John P. Armato, CPA
Jennifer S. Ziegler, CPA, CFP Chris A. Miller, CPA,CVA
Stephen R. Dischler, MBA, CPA Steven G. Moosa, CPA
Erich G. Loewer, Jr. CPA, CVA
Kathleen T. Darnall, CPA Erich G. Loewer, III, MTX, CPA
Tamera T. Landry, CPA Raegan D. Maggio, CPA Julie Templet DeVillier, CPA
Barbara A. Clark, CPA Lauren F. Verrett, CPA Michelle B. Borrello, CPA Jeremy C. Meaux, CPA Kevin S. Young, CPA
Other Locations:
1231 E. Laurel Avenue Eunice, LA 70535 337.457.4146
1201 Brashear Avenue Suite 301
Morgan City, LA 70380 985.384.6264
404 Pere Megret Abbeville, LA 70510
337.893.5470
We have audited the accompanying general purpose financial statements of the Lafayette Council on Aging, Inc., as of and for the year ended June 30, 2003, as listed in the table of contents. These general purpose financial statements are the responsibility of the Council's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (OMB) Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations." Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Lafayette Council on Aging, Inc. as of June 30, 2003, and the results of its operations and cash flows of its proprietary fund type for the year then ended, in conformity with accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued a report dated October 22, 2003, on our consideration of the Lafayette Council on Aging, Inc.'s internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grants.
1
Member of:
American Institute of Certified Public Accountants
Society of Louisiana Certified Public Accountants
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements of the Lafayette Council on Aging, Inc. taken as a whole. The accompanying Schedule of Expenditures of Federal Awards as required by U.S. Office of Management and Budget Circular A-133, "Audits of States, Local Governments, and Non-Profit Organizations," and the supplemental information listed in the table of contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole.
Darnall, Sikes & Frederick
A Corporation of Certified Public Accountants Lafayette, Louisiana October 22, 2003
2
GENERAL PURPOSE FINANCIAL STATEMENTS (COMBINED STATEMENTS ? OVERVIEW)
3
LAFAYETTE COUNCIL ON AGING, INC.
Combined Balance Sheet - All Fund Types and Account Groups June 30, 2003
ASSETS Cash Cash-restricted deposits Prepaid expenditures Due from other funds Accounts receivable Deposit Fixed assets Amount to be provided for
retirement of general long-term debt Total assets
LIABILITIES AND EQUITY Liabilities:
Accounts payable Tenant's deposits - payable
from restricted cash Accrued payroll and
related benefits Due to other funds Long-term debt -
Note payable Accumulated unpaid
vacation Total liabilities
Fund equity: Contributed capital Investment in fixed assets Retained earnings-unreserved Fund balances: Unreserved, undesignated Unreserved, designated Reserved Total fund balances Total fund equity Total liabilities and fund equity
Governmental Fund Types
General
Special Revenue
Proprietary Fund Type
Enterprise
Account Groups
General General
Total
Fixed Long-Term (Memorandum
Assets
Debt
Only)
$ 47,301 $ 71,325 $ 584,959 $
-$
-
-
22,052
-
8,079
-
674
-
5,860 116,824
590
-
49,727
26,374
2,408
-
7,600
-
-
-
-
- 4,157,682 970,986
- $ 703,585
-
22,052
-
8,753
-
123,274
-
78,509
-
7,600
- 5,128,668
-
-
-
-
36,759
36,759
$ 118,567 $ 214,523 $ 4,768,365 $ 970,986 $ 36,759 $ 6,109,200
$ 5,202 $ 5,064 $ 8,590 $
-
-
22,052
6,309 102,936
23,042 5,860
14,478
-
-
699,234
114,447
33,966
744,354
-$
- $ 18,856
-
-
22,052
-
-
29,351
-
-
123,274
-
20,538
719,772
-
16,221
-
36,759
16,221 929,526
-
- 3,389,000
-
-
3,389,000
-
-
- 970,986
-
970,986
-
-
635,011
-
-
635,011
(35,532) 5,158 34,494 4,120 4,120
180,557 -
180,557 180,557
4,024,011
970,986
-
145,025
-
5,158
-
34,494
-
184,677
-
5,179,674
$ 118,567 $ 214,523 $ 4,768,365 $ 970,986 $ 36,759 $ 6,109,200
The accompanying notes are an integral part of this statement. 4
LAFAYETTE COUNCIL ON AGING, INC.
Combined Statement Of Revenues, Expenditures, And Changes In Fund Balances - All Governmental Fund Types
Year Ended June 30, 2003
Revenues: Intergovernmental Program Local and miscellaneous In-kind Total revenues
Expenditures: Current Salaries Fringe Travel Operating services Operating supplies Other costs Capital outlay Debt Service Principal Interest In-kind Total expenditures
Excess (deficiency) of revenues over expenditures
Other financing sources (uses): Operating transfers in Operating transfers out Total other financing sources (uses)
Excess (deficiency) of revenues and other sources over expenditures and other uses
Fund balances, beginning of year
Fund balances, end of year
General
Special Revenue
Total (Memorandum
Only)
$ 31,993 -
234,849 -
266,842
$ 1,361,328 69,784
252,002 92,450 1,775,564
$ 1,393,321 69,784
486,851 92,450 2,042,406
40,361 5,307 1,329
84,036 24,127 67,186
-
222,346
1,038,702 121,154 73,939 156,563 35,823 283,670 8,076
968 1,644 92,450 1,812,989
1,079,063 126,461 75,268 240,599 59,950 350,856 8,076
968 1,644 92,450 2,035,335
44,496
(37,425)
7,071
1,912 (83,049) (81,137)
273,404 (192,267)
81,137
275,316 (275,316)
-
(36,641)
43,712
40,761
136,845
$ 4,120 $ 180,557
7,071 177,606 $ 184,677
The accompanying notes are an integral part of this statement. 5
LAFAYETTE COUNCIL ON AGING, INC.
Combined Statement Of Revenues, Expenditures And Changes In Fund Balances - Budget (GAAP Basis) And Actual - All Governmental Fund Types
Year Ended June 30, 2003
Revenues: Intergovernmental Program Local and miscellaneous In-kind Total revenues
Budgeted
General Fund Actual
Variance Favorable (Unfavorable)
Special Revenue Funds
Variance -
Favorable
Budgeted
Actual
(Unfavorable)
$ 31,993 $ 31,993 $
-
-
207,563
234,849
-
-
239,556
266,842
- $ 1,259,601 $ 1,361,328 $ 101,727
-
62,876
69,784
6,908
27,286
264,293
252,002
(12,291)
-
54,567
92,450
37,883
27,286
1,641,337
1,775,564
134,227
Expenditures: Current Salaries Fringe Travel Operating services Operating supplies Other costs Capital outlay Debt Service Principal Interest In-kind Total expenditures
40,347 5,135 1,300 85,129
23,099 62,440
-
217,450
40,361 5,307 1,329
84,036 24,127 67,186
-
222,346
(14) (172)
(29) 1,093 (1,028) (4,746)
-
(4,896)
962,670 94,818 76,033
200,991 39,174
338,500 7,132
1,719,318
1,038,702 121,154 73,939 156,563 35,823 283,670 8,076
968 1,644 92,450 1,812,989
(76,032) (26,336)
2,094 44,428
3,351 54,830
(944)
(968) (1,644) (92,450) (93,671)
Excess (deficiency) of revenues over expenditures
22,106
44,496
22,390
(77,981)
(37,425)
40,556
Other financing sources (uses): Operating transfer in Operating transfer out Total other financing sources (uses)
500 (36,933)
(36,433)
1,912 (83,049)
(81,137)
1,412 (46,116)
(44,704)
278,974 (68,822)
210,152
273,404 (192,267)
81,137
(5,570) (123,445)
(129,015)
Excess (deficiency) of revenues and other sources over expenditures and other uses
(14,327)
(36,641)
(22,314)
132,171
43,712
(88,459)
Fund balances, beginning of year
Fund balances, end of year
40,761
40,761
-
136,845
$ 26,434 $ 4,120 $ (22,314) $ 269,016 $
136,845
-
180,557 $ (88,459)
The accompanying notes are an integral part of this statement. 6
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related download
Related searches
- orange county council on aging
- council on aging southern california
- riverside county council on aging
- council on aging services
- council on aging irvine
- council on aging programs
- council on aging near me
- council on aging website
- american council on aging
- lafayette council on aging website
- cajun area council on aging
- council on aging lafayette louisiana