received legislative auditor 2008 dec 16 ah 10-52 · 2020-06-24 · 901,454 65,068,123 4,782,275...

IM RECEIVEDLEGISLATIVE AUDITOR

2008 DEC 16 AH 10-52

ST. MARTIN PARISH SCHOOL BOARDSt. Martinville, Louisiana

Financial Report

Year Ended June 30, 2008

Under provisions of state law, this report is a publicdocument, A copy of the report has been submitted tothe entity and other appropriate public officials. Thereport Is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the office of tye par/sh clerk of court.

Release Date

TABLE OF CONTENTS

Page

Independent Auditors' Report 1 -2

BASIC FINANCIAL STATEMENTS

GOVERNMENT-WIDE FINANCIAL STATEMENTS (GWFS)Statement of net assets 5Statement of activities 6

FUND FINANCIAL STATEMENTS (FFS)Balance sheet - governmental funds 8Reconciliation of the governmental funds balance sheet

to the statement of net assets 9Statement of revenues, expenditures, and changes in fund balances-

governmental funds 10Reconciliation of the statement of revenues, expenditures, and changes in

fund balances of governmental funds to the statement of activities 11Combined statement of net assets-internal service funds 12Combined statement of revenues, expenses, and changes in fund net assets -

internal service funds 13Combined statement of cash flows-internal service funds 14-15Statement of fiduciary net assets 16Statement of changes in fiduciary net assets 17

Notes to basic financial statements 18-44

REQUIRED SUPPLEMENTARY INFORMATIONBudgetary comparison schedule - General Fund 46Budgetary comparison schedule - State and Local Special Revenue Funds 47

(continued)

TABLE OF CONTENTS (continued)

Page

OTHER SUPPLEMENTARY INFORMATION

INTERNAL CONTROL, COMPLIANCE, AND OTHER INFORMATION

Report on Internal Control over Financial Reportingand on Compliance and Other Matters Based onan Audit of Financial Statements Performed inAccordance with Government Auditing Standards 50-51

Report on Compliance with Requirements Applicableto each Major Program and on Internal Control overCompliance in Accordance with OMB Circular A-133 52-54

Notes to schedule of expenditures of federal awards 55Schedule of expenditures of federal awards 56-57Schedule of findings, questioned costs, and management's corrective action plan 58Summary schedule of prior audit findings 59

SCHEDULES REQUIRED BY STATE LAW(R.S. 24:514 PERFORMANCE AND STATISTICAL DATA)

Agreed-upon procedures report on school board performance measures 61-64

SCHEDULES RELATED TO AGREED-UPON PROCEDURES

Schedule 1 65Schedule 2 66Schedule 3 67Schedule 4 68Schedule 5 69Schedule 6 70Schedule 7 71Schedule 8 72Schedule 9 73-75

C. Burton Holder. CPA*Russell F. Champagne, CPA"Victor R. Staven, CPA"P. Troy Courvihe. CPA'Gerald A. Thtbodeaux, Jr.,CPA*Robert S. Carter. CPA*Arthur R. Mixon, CPA'

KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC

Tynes E. Mbson, Jr., CPAAllen J. LaBry, CPAAlbert R. Leger, CPA,PFS,CSA*Penny Angefte Scruggins, CPAChristine L Cousin, CPAMary T. Thibodeaux, CPAMarshall W. Guidry, CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Metz, CPAKelly M. Doucat. CPACheryl L Bartley, CPA, CVAMandy B Self, CPAPaul L Delcambre, Jr. CPAWanda F. Arcement, CPAKristin B. Dauzat, CPARichard R. Anderson ST., CPACarolyn C. Anderson, CPA

CERTIFIED PUBLIC ACCOUNTTAm'S

P.O. Box 250Breaux Bridge, LA 70517

Phone (337) 332-4020Fax (337) 332-2867

OFFICES

183 South BeadJeRd.Lafayette. LA 70506Phone (337) 232-4141Fax (337) 232-8660

450 East Main StreetNew Iberia. LA 70560

Phone (337) 367-9204Fax [337) 367-9208

113 East Bridge SL 200 South Main StreetBreaux Bridge, LA 70517 Abbeville, LA 70510Phone (337) 332-4020 Phone (337) 893-7944Fax (337) 332-2867 Fax (337) 893-7946

INDEPENDENT AUDITORS' REPORTRetired:Conrad 0. Chapman, CPA" 2006Harry J. Closto. CPA 2007

1234 David Dr. Ste 203Morgan City, LA 70380Phone (985) 384-2020Fax (985) 384-3020

408 West Cotton StreetVille Platte, LA 70586Phone (337) 363-2792Fax (337) 363-3049

332 West Sixth AvenueOberlin, LA 70655Phone (337) 639-4737Fax (337) 639-4568

1013 Main StreetFranklin. LA 70538

Phone (337) 628-0272Fax (337) 828-0290

133 East Waddil StMarksvilteLA71351

Phone (318) 253-9252Fax (318) 253-8681

621 Main StreetPineville, LA 71360

Phone (318) 442-4421Fax (318) 442-9833

WEBSITE;WWW.KCSRCPAS. COM

* A Profession!! AocowiUng CoipafBtton

Mr. Richard Lavergne, Superintendentand Members of the St. Martin ParishSchool Board

St. Martinville, Louisiana

We have audited the accompanying financial statements of the governmental activities, each majorfund, and the aggregate remaining fund information of the St. Martin Parish School Board (the SchoolBoard), as of and for the year ended June 30, 2008, which collectively comprise the School Board's basicfinancial statements as listed in the table of contents. These financial statements are the responsibility of theSt. Martin Parish School Board's management. Our responsibility is to express opinions on these financialstatements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United Statesof America and the standards applicable to financial audits contained in Government Auditing Standards.issued by the Comptroller General of the United States. Those standards require that we plan and performthe audit to obtain reasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosuresin the financial statements. An audit also includes assessing the accounting principles used and the significantestimates made by management, as well as evaluating the overall financial statement presentation. Webelieve that our audit provides a reasonable basis for our opinions.

In our opinion, the financial statements referred to above present fairly, in all material respects, therespective financial position of the governmental activities, each major fund, and the aggregate remainingfund information of the St. Martin Parish School Board, as of June 30, 2008, and the respective changes infinancial position, and cash flows, where applicable, thereof for the year then ended in conformity withaccounting principles generally accepted in the United States of America.

Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLIC ACCOUNTANTS

Member of:SOCIETY OF LOUISIANA

CERTIFIED PUBLIC ACCOUNTANTS

In accordance with Government Auditing Standards, we have also issued our report dated November14, 2008, on our consideration of the St. Martin Parish School Board's internal control over financialreporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grantagreements and other matters. The purpose of that report is to describe the scope of our testing of internalcontrol over financial reporting and compliance and the results of that testing, and not to provide an opinionon the internal control over financial reporting or on compliance. That report is an integral part of an auditperformed in accordance with Government Auditing Standards and important for assessing the results of ouraudit.

The budgetary information on pages 46 through 47 is not a required part of the basic financialstatements but is supplementary information required by accounting principles generally accepted in theUnited States of America. We have applied certain limited procedures, which consisted principally ofinquiries of management regarding the methods of measurement and presentation of the requiredsupplementary information. However, we did not audit the information and express no opinion on it.

The School Board has not presented management's discussion and analysis that the GovernmentalAccounting Standards Board has determined necessary to supplement, although not required to be part of, thebasic financial statements.

Our audit was conducted for the purpose of forming opinions on the financial statements thatcollectively comprise the St. Martin Parish School Board's basic financial statements. The othersupplementary information on pages 48 through 75 including the schedule of expenditures of federal awardsas required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments,and Non-Profit Organizations and the schedules required by state law are presented for purposes of additionalanalysis and are not a required part of the basic financial statements. Such information has been subjected tothe auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairlystated in all material respects in relation to the basic financial statements taken as a whole.

Kolder, Champagne, Slaven & Company, LLCCertified Public Accountants

Breaux Bridge, LouisianaNovember 14, 2008

BASIC FINANCIAL STATEMENTS

GOVERNMENT-WIDEFINANCIAL STATEMENTS (GWFS)


Statement of Net AssetsJune 30, 2008

ASSETS

Cash and interest-bearing depositsInvestmentsReceivables, netDue from other governmental agenciesInventoriesPrepaid itemsRestricted assets:

Cash and interest-bearing depositsCapital assets, net

TOTAL ASSETS

LIABILITIES

Salaries and payroll tax liabilitiesInsurance claims payableOther payablesRetainage payableDeferred revenueInterest payableLong-term liabilities:

Due within one yearDue in more than one year

TOTAL LIABILITIES

NET ASSETS

Invested in capital assets, net of related debtRestricted for:

Salaries and benefitsInventoryCapital expenditures/incomplete contractsDebt service

Unrestricted

TOTAL NET ASSETS

GovernmentalActivities

6,942,52933,079,498

1,807,0782,738,868

305,302529,355

234,31243,053,981

88,690,923

5,251,5382,652,111

579,69527,494

269,461351,486

3,795,59526,479,756

39,407,136

16,885,996

8,937,554305,302491,778

1,795,99120,867,166

$ 49,283,787

The accompanying notes are an integral part of the basic financial statements.


Statement of ActivitiesFor the Year Ended June 30, 2008

Program RevenuesNet (Expense)Revenue and

Functions/Programs

Governmental activities:Instruction:

Regular education programsSpecial education programsVocational education programsOther instructional programsSpecial programsAdult and continuing education programs

Support services:Pupil support servicesInstructional staff supportGeneral administrationSchool administrationBusiness servicesOperation and maintenance of plant servicesStudent transportation servicesCentral servicesFood servicesCommunity service programs

Interest on long-term debt

Tota! governmental activities

Charges forExpenses Services

$ 26,241,424 $8,022,6251,504,7801,497,5565,894,992

134,462

4,453,9383,616,4061,279,3323,682,6881,003,8105,436,5605,331,752

76553834,730,004 390,293

269,7261,150,589

$ 75,016,027 $ 390,293

Taxes:

Operating CapitalGrants and Grants and

Contributions Contributions

$ 570,982 $673,198145,892748,450

5,653,50499,863

2,357,383870,951254,394

2,2753,211

21,791731,737

6,9601,957,996

241,299-

$14,339,886 $

Property taxes, levied for general purposesProperty taxes, levied for debt serviceSales and use taxesState revenue sharing

Changes in Net AssetsGovernmental

Activities

$ (25,670,442)(7,349,427)(1,358,888)

(749,106)(241,488)

(34,599)

(2,096,555)(2,745,455)(1,024,938)(3,680,413)(1,000,599)(5,414,769)(4,600,015)

(758,423)(2,381,715)

(28,427)(1,150,589)

$ (60,285,848)

2,402,0703,515,658

12,101,536283,743

Grants and contributions not restricted to specific programs:State source - Minimum Foundation ProgramState source - PIPS

Interest and investment earningsRents, leases and royaltiesMiscellaneous

Total general revenues

Change in net assets

Net assets - July 1,2007

Net assets - June 30, 2008

43,899,756136,271

1,190,368637,267901,454

65,068,123

4,782,275

44,501,512

$ 49,283,787


FUND FINANCIAL STATEMENTS (FFS)


Balance Sheet - Governmental FundsJune 30, 2008

ASSETSCash and interest-bearing depositsInvestmentsReceivables -

Accrued interestTaxes receivablesDue from other fundsDue from other governmental agenciesOther receivables

Inventories, at costOther current assets

Total assets

LIABILITIES AND FUND BALANCESLiabilities:

Accounts payableRetainage payableSalaries and payroll taxes payableClaims payableDue to other fundsOther payablesDeferred revenue

Total liabilities

Fund balances:Reserved for -

Other purposesCapital expendituresDebt retirement

Total fund balances reserved

Unreserved -Designated:

General fundTransportation fundCapita] projects fund

Undesignated, reported in major funds

Total fund balances unreserved

Total fund balances

Total liabilities and fund balances

Major Funds

General Fund

$ 3,050,70316,877,263

108,388-

2,668,52563,024

282,848131,403529,297

$ 23,711,451

$ 575,048

-5,251,538

228,691779,915

2,59492,034

6,929,820

131,403--

131,403

187,458--

16,462,770

16,650,228

16,781,631

State andLocal Special

RevenueFunds

$ 2,065,3116,037,635

_

1,107,029-

1,062,6922,604

173,899-

$10,449,170

$---

1,028,925-

33,768

1,062,693

9,111,453--

9,111,453

233,806-

41,218

275,024

9,386,477

All Other Non-Major

GovernmentalFunds

$ 1,493,3444,891,759

.-

234,5501,613,152

16,872-

60

$ 8,249,737

$27,494

--

1,847,762-

143,659

2,018,915

491,7781,795,991

2,287,769

-3,943,053

-

3,943,053

6,230,822

TotalGovernmental

Funds

$ 6,609,35827,806,657

108,3881,107,0292,903,0752,738,868

302,324305,302529,357

$42,410,358

$ 575,04827,494

5,251,538228,691

3,656,6022,594

269,461

30,011,428

9,242,856491,778

1,795,991

11,530,625

187,458233,806

3,943,05316,503,988

20,868,305

32,398,930

$ 23,711,451 $10,449,170 $ 8,249,737 $42,410,358



Reconciliation of the Governmental Funds Balance Sheetto the Statement of Net Assets

June 30, 2008

Total fund balances for governmental funds at June 30, 2008

Cost of capital assets at June 30, 2008Less: Accumulated depreciation as of June 30, 2008:

BuildingsMovable property

$ 79,735,748

(31,268,297)(5,413,470)

$ 32,398,930

43,053,981

Elimination of interfund assets and liabilities:Due from other fundsDue to other funds

$ 3,656,602(3,656,602)

Long-term liabilities at June 30, 2008:Bonds payable $ (26,578,182)Difference between refunded debt and its reacquisition price

is accounted for as a deferred charge 540,676Accumulated amortization of deferred charge (130,481)Compensated absences payable (4,107,366)Accrued interest payable (351,486) (30,626,839)

Assets and liabilities of Self- Insurance Internal Service Fund 4,457,715

Net assets at June 3 0,2008 $ 49,283,787


ST. MARTIN PARJSH SCHOOL BOARDSt. Maitmvillc, Louisiana

Governmental FundsStatement of Revenues, Expenditures and Changes in Fund Balances

For the Year Ended June 30, 2008

Major Funds^

REVENUES

Local sources -

Ad valorem taxes

Sales taxes

TuitionTransportation

Interest earnings

Rentals, leases, and royaltiesincome from meals

Contributions and donations

Medicaid

KidMed

E-rate reimbursementsOther miscellaneous revenues

State sources -

Unrestricted grants-in-aid

Restricted grants-in-aid

Revenue in lieu of taxesOther state revenues

Federal sources -Restricted grants-in-aid through the state

Value of USDA Commodities

Total revenues

EXPENDrrURESCurrent

Instruction -

Regular education programs

Special education programs

Vocational education programsOther instructional programs

Special programs

Adult and continuing education programs

Support services -

Pupil support servicesInstructional staff services

General administrationSchool administration

Business servicesOperation and maintenance of plantStudent transportation servicesCentral services

FoodserviceCommunity service programs

• Construction Services

Debt service

Total expenditures

Excess (deficiency) of revenues over expenditures

Other financing sources (uses):

Transf en inTransfers out

Total other financing sources (uses)

Excess of revenues and other sources

over expenditures and other uses

FUND BALANCES, BEGINNING

FUND BALANCES, ENDING


General Fund

J 2,402,070

-38,703

67,4221,065,169

637,267

-9,900

257,659120,650

198,108

161,864

43,838,592

270,342283,743

17,849

-.

49,369,338

25,365,568

7,201,529

1,323,470711,004

404,533

32,125

2,132,813

2,680,417

981,588

3,622,803982,762

6,124,9354,551,995

741,360-

32,645--

56.889.547

(7,520,209)

1 1,212,527

(3,104,079)

8.108.448

588,239

16,193,392

S 16,781,631

State and Local

Special RevenueFunds

$12,101,536

--

81,205-

390,293

----

29,299

61,164

3,858,824-

-

2,707,343224,948

19,454,612

426,13240,456

-614,782

1,592.495

26,402

868,869

266,084

251,069

2,080-

15,112729,638

-4,680,039

---

9.513.158

9,941,454

1,122,324

(10.791,627)

^9.669.303^

272,151

9,114,326

S 9,386,477

All Other Non-Major

Governmental

Funds

S 3,515,658

---

43,994

------

-

.

--

-

7,414,700-

10,974,352

10,779

632,742145,892

133,6673,775,704

73,461

1,354,877

604,868

23,461

1953,2116,6782,099

6,961-

24U99

713,9393,026,027

10.755.860

218,492

1,979,797

(418,942)

1.560.855

1,779,347

4,451,475

S 6,230,822

TotalGovernmental

Funds

S 5,917,728

12,101,536

38,70367,422

1,190,368

637.267

390,2939,900

257,659120,650

198,108

191,163

43,899,756

4,129,166

283,743

17,849

10,122,043224.948

79.798.302

25,802,4797,874,7271,469,362

1,459,453

5,772,732

131,988

4,356,559

3,551,3691,256,118

3,625,078

985,9736,146,7255,283,732

748,3214,680,039

273,944

713,9393,026,027

77.158.565

2,639,737

14,314,648(14.314,648)

.

2,639,737

29.759,193

S 32.39S,930


Reconciliation of the Statement of Revenues, Expenditures, andChanges in Fund Balances of Governmental Funds

to the Statement of ActivitiesFor the Year Ended June 30, 2008

Total net change in fund balances for the year ended June 30,2008 per Statementof Revenues, Expenditures and Changes in Fund Balances $ 2,639,737

Add: Facilities acquisition and construction costs which are considered expenditureson Statement 1,527,660

Less: Depreciation expense for year ended June 30, 2008 (1,799,301)

Add: Bond principal retirement considered as an expenditure on Statement 1,894,091

Less: Excess of compensated absences earned over compensated absences used (480,606)

Add: Difference between interest on long-term debt on modified accrual basis versusinterest on long-term debt on accrual basis 23,539

Add: Net income of the Self- Insurance Internal Service Funds 1,024,850

Less: Amortization of deferred charge (42,191)

Less: Loss on disposition of assets (5,504)

Total change in net assets for the year ended June 30,2008 perStatement of Activities $ 4,782,275


11

ST. MARTIN PARISH SCHOOL BOARDSt.Martinville, Louisiana

Proprietary Funds - Internal Service Funds

Combined Statement of Net AssetsJune 30, 2008

ASSETSCurrent Assets:

Cash and interest-bearing deposits $ 567,483Investment 5,272,841Other current assets 289,337Due from other funds 753,527

Total assets $ 6,883,188

LIABILITIESCurrent Liabilities:

Claims payable $ 2,423,420Other current liabilities 2,053

Total liabilities 2,425,473

NET ASSETSNet assets:

Unrestricted 4,457,715

Total liabilities and net assets $ 6,883,188


12



Combined Statement of Revenues, Expenses and Changes in Fund Net AssetsFor the Year Ended June 30, 2008

Operating Revenues;Charges for services -

Employer contributionsEmployee contributions

Insurance recoveriesOther recoveries

Total operating revenues

Operating Expenses:Salaries and related benefitsContractual servicesPremium paymentsClaim payments

Total operating expenses

Operating income

Nonoperating Revenue:Interest earned

$ 7,578,3053,440,766

725,53513,097

11,757,703

75,413424,754623,480

9,805,437

10,929,084

828,619

196,231

Net income

Net assets, beginning

Net assets, ending

1,024,850

3,432,865

$ 4,457,715


13



Combined Statement of Cash FlowsFor the Year ended June 30, 2008

Cash flows from operating activities:Receipts from other funds and employees

Payments to providers and employees

Net cash provided by operating activities

Cash flows from investing activities:Interest on investments

12,030,623(10,554,161)

1,476,462

196,231

Cash flows from noncapital financing activities:

Transfer to other fund

Net increase in cash and cash equivalents

Cash and cash equivalents, beginning of period

Cash and cash equivalents, end of period

Reconciliation of operating loss to net cash used byoperating activities:

Operating incomeAdjustments to reconcile operating loss to net cashused by operating activities:Changes in current assets and liabilities:

Decrease in receivablesIncrease in payables

Net cash provided by operating activities

(6,706)

1,665,987

4,174,337

$ 5,840,324

$ 828,619

272,920374,923

$ 1,476,462

(continued)

14



Combined Statement of Cash Flows (Continued)For the Year ended June 30, 2008

Reconciliation of cash and cash equivalents per statementof cash flows to the balance sheet:

Cash and cash equivalents, beginning of period -Cash and interest-bearing deposits $ 1,142,179

Investments, at cost 3,032,158

Total cash and cash equivalents 4,174,337

Cash and cash equivalents, end of period -Cash and interest-bearing deposits 567,483Investments, at cost 5,272,841

Total cash and cash equivalents 5,840,324

Net increase $ 1,665,987

The accompanying notes are an integral part of the-basic financial statements.

15

ST. MARTIN PARISH SCHOOL BOARDSt.Martinville, Louisiana

Statement of Fiduciary Net AssetsJune 30, 2008

AgencyFunds

ASSETSCash and interest-bearing depositsInvestmentsReceivables -

Accrued interestOther current assets

Total assets

LIABILITIESDue to other fundsDue to other governmental unitsSchool activity funds payable

Deferred revenues

Total liabilities

$ 343,128726,586

1,295

1,071,009

26,38833,165

979,990

31,466

1,071,009

PrivatePurpose

Trust Fund

$ 2,75321,158

205

24,116

Total

I 345,881747,744

2051,295

1,095,125

26,38833,165

979,990

31,466

1,071,009

NET ASSETSReserved for specific purposes $ 24,116 $ 24,116


16


Statement of Changes in Fiduciary Net AssetsPrivate Purpose Trust Fund


ADDITIONSInterest earningsGifts and contributions

Total additions

DEDUCTIONSBenefits

Change in net assets

Net assets - beginning

Net assets - ending

4982,100

2,598

3,308

(710)

24,826

$ 24,116


17


Notes to Basic Financial Statements

Introduction

The St. Martin Parish School Board (School Board) was created by Louisiana Revised Statute (LSA-R.S.) 17:51 for the purpose of providing public education for the children within St. Martin Parish. TheSchool Board is authorized by LSA-R.S. 17:51 to establish policies and regulations for its own governmentconsistent with the laws of the State of Louisiana and the regulations of the Louisiana Board of Elementaryand Secondary Education. The School Board is comprised often members who are elected from ten districtsfor terms of four years.

The School Board operates seventeen schools within the parish. In conjunction with the regulareducational programs, some of these schools offer special education and/or adult education programs. Inaddition, the School Board provides transportation and school food services for the students.

(1) Summary of Significant Accounting Policies

The accompanying financial statements of the St. Martin Parish School Board have beenprepared in conformity with generally accepted accounting principles (GAAP) as applied togovernmental units. The Governmental Accounting Standards Board (GASB) is the acceptedstandard-setting body for establishing governmental accounting and financial reporting principles.Proprietary funds apply Financial Accounting Standards Board (FASB) pronouncements andAccounting Principles Board (APB) opinions issued on or before November 30, 1989, unless thosepronouncements conflict with or contradict GASB pronouncements, in which case, GASB prevails.Although the School Board has the option to apply FASB pronouncements issued after that date, theSchool Board has chosen not to apply said pronouncements. The accounting and reportingframework and the more significant accounting policies are discussed below.

A. Financial Reporting Entity

For financial reporting purposes, the School Board includes all funds andactivities that are within the oversight responsibility of the School Board. Becausethe School Board members are independently elected and are solely accountable forfiscal matters, which include (1) budget authority, (2) responsibility for fundingdeficits and operating deficiencies, and (3) fiscal management for controlling thecollection and disbursement of funds, and because of the scope of public serviceprovided by the School Board, the School Board is a separate governmental reportingentity, primary government.

Certain units of local government over which the School Board exercises nooversight responsibility, such as the parish government, other independently electedparish officials, and municipalities within the parish, are excluded from theaccompanying financial statements. These units of government are consideredseparate reporting entities and issue financial statements separate from that of theSchool Board. The School Board is not a component unit of any other entity and doesnot have any component units, which require inclusion in the financial statements ofthe School Board.

18


Notes to Basic Financial Statements (Continued)

B. Basis of Presentation

Government-Wide Financial Statements (GWFS)

The statement of net assets and the statement of activities display informationabout the School Board, the primary government, as a whole. They include all fundsof the reporting entity, which are considered to be governmental activities. TheSchool Board's internal service fund is a governmental activity. Internal service fundactivity is eliminated to avoid "doubling up" of revenues and expenses. Fiduciaryfunds are not included in the GWFS. Fiduciary funds are reported only in theStatement of Fiduciary Net Assets at the fund financial statement level.

The statement of activities presents a comparison between direct expensesand program revenues for each function of the School Board's governmentalactivities. Direct expenses are those that are specifically associated with a program orfunction and, therefore, are clearly identifiable to a particular function. Programrevenues include (a) fees and charges paid by the recipients of goods or servicesoffered by the programs, and (b) grants and contributions that are restricted tomeeting the operational or capital requirements of a particular program. Revenues thatare not classified as program revenues, including all taxes, are presented as generalrevenues.

Fund Financial Statements (FFS)

The accounts of the School Board are organized and operated on the basis offunds. A fund is an independent fiscal and accounting entity with a separate set ofself-balancing accounts. Fund accounting segregates funds according to theirintended purpose and is used to aid management in demonstrating compliance withfinance-related legal and contractual provisions. Fund financial statements reportdetailed information about the School Board.

The various funds of the School Board are classified into three categories:governmental, proprietary, and fiduciary. The emphasis on fund financial statementsis on major funds, each displayed in a separate column. A fund is considered major ifit is the primary operating fund of the School Board or meets the following criteria:

a. Total assets, liabilities, revenues, or expenditures/expenses of thatindividual governmental or enterprise fund are at least 10 percent ofthe corresponding total for all funds of that category or type; and

b. Total assets, liabilities, revenues, or expenditures/expenses of theindividual governmental or enterprise fund are at least 5 percent ofthe corresponding total for all governmental and enterprise fundscombined.

19



The School Board reports the following major governmental funds:

The General Fund is the general operating fund of the School Board. Itaccounts for all financial resources except those required to be accounted for in otherfunds.

The major special revenue fund is the State and Local Special Revenue Funds(which is comprised of the School Lunch Fund, LA-4, the Other State Grants Fund,the Health Centers Fund, the Transportation Fund and the two Sales Tax Funds).These funds account for revenues and expenditures related to certain state and localgrant and entitlement programs as well as other legally restricted funds.

Additionally, the School Board reports the following fund types:

The nonmajor special revenue fund types include the Federal Titles Funds(which is comprised of Title I and Carryover and No Child Left Behind Titles IIthrough VI) and the Federal Grant Funds (which is comprised of IDEA and Preschool,and Other Federal Grants Funds). These funds account for the revenues andexpenditures related to certain federal, state and local grant and entitlement programs.

The Capital Projects Fund, which includes the 1996 Construction Fund, the2002 Construction Fund, and the 2006 Construction Fund, is considered to be anonmajor fund. They are used to account for financial resources to be used for theacquisition or construction of major capital facilities as well as various schoolimprovements.

The Debt Service Fund, established to meet requirements of bond ordinances,is considered to be a nonmajor fund. It is used to account for the accumulation ofresources for and the payment of general long-term debt principal, interest, andrelated costs.

Proprietary Funds -

Proprietary funds are used to account for ongoing organizations and activitiesthat are similar to those often found in the private sector. The measurement focus isbased upon determination of net income, financial position, and cash flows. Thefollowing is the School Board's proprietary fund type:

Internal Service Funds

The Internal Service Funds (proprietary fund type) are used to account for theaccumulation of resources for and the payment of benefits by the School Board'sgroup self-insurance and workers' compensation insurance programs.

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Proprietary funds distinguish operating revenues and expenses fromnonoperating items. Operating revenues are derived from contributions made fromthe employer and employees. These revenues are planned to match: (1) expenses ofinsurance premiums in excess of self-insurance amounts; (2) actual claims andestimated liabilities for claims incurred but not yet reported at year-end, and (3)operating expenses. All revenues and expenses not meeting this definition arereported as nonoperating revenues and expenses.

Fiduciary Funds -

Fiduciary funds account for assets held by the government in a trusteecapacity or as an agent on behalf of other funds within the School Board. The fundsaccounted for in this category by the School Board are the agency funds. The agencyfunds are as follows:

School Activity Fund - accounts for monies generated by theindividual schools and organizations within the schools of the parish as wellas allocations made by the School Board to individual schools and selectedorganizations. While the school activity accounts are under the supervisionof the School Board, they belong to the individual schools or their studentbodies and are not available for use by the School Board.

Sales Tax Fund - accounts for the collection and distribution of allsales taxes levied in the parish of St. Martin.

Private-purpose trust funds - accounts for contributions frommembers of the St. Martin Parish School Board to encourage students of highacademic standing and achievement to enter the education profession.

C. Measurement Focus/ Basis of Accounting

Measurement focus is a term used to describe "which" transactions arerecorded within the various financial statements. Basis of accounting refers to "when"transactions are recorded regardless of the measurement focus applied.

Measurement Focus

On the government-wide statement of net assets and the statement ofactivities, the governmental activities are presented using the economic resourcesmeasurement focus as defined in item b. below. In the fund financial statements, the"current financial resources" measurement focus or the "economic resources"measurement focus is used as appropriate:

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a. All governmental funds utilize a "current financial resources" measurementfocus. Only current financial assets and liabilities are generally included ontheir balance sheets. Their operating statements present sources and uses ofavailable spendable financial resources during a given period. These fundsuse fund balance as their measure of available spendable financial resourcesat the end of the period.

b. The proprietary (internal service) fund utilizes an "economic resources"measurement focus. The accounting objectives of this measurement focus arethe determination of operating income, changes in net assets (or costrecovery), financial position, and cash flows. All assets and liabilities(whether current or noncurrent) associated with their activities are reported.Proprietary fund equity is classified as net assets.

Basis of Accounting

In the government-wide statement of net assets and statement of activities, thegovernmental activities are presented using the accrual basis of accounting. Under theaccrual basis of accounting, revenues are recognized when earned and expenses arerecorded when the liability is incurred or economic asset used. Revenues, expenses,gains, losses, assets, and liabilities resulting from exchange and exchange-liketransactions are recognized in accordance with the requirements of GASB StatementNo. 33 "Accounting and Financial Reporting for Nonexchange Transactions."

Program revenues

Program revenues included in the Statement of Activities are derived directlyfrom the program itself or from parties outside the School Board's taxpayers orcitizenry, as a whole; program revenues reduce the cost of the function to be financedfrom the School Board's general revenues.

Allocation of indirect expenses

The School Board reports all direct expenses by function in the Statement ofActivities. Direct expenses are those that are clearly identifiable with a function.Indirect expenses of other functions are not allocated to those functions, but arereported separately in the Statement of Activities. Depreciation expense is specificallyallocated by function and is included in the direct expense of each function. Intereston general long-term debt is considered an indirect expense and is reported separatelyon the Statement of Activities. Interest costs are not capitalized.

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In the fund financial statements, governmental funds are presented on themodified accrual basis of accounting. Under this modified accrual basis ofaccounting, revenues are recognized when "measurable and available." Measurablemeans knowing or being able to reasonably estimate the amount. Available meansbeing collectible within the current period or within 60 days after year-end.Expenditures (including facilities acquisition and construction) are recorded when therelated fund liability is incurred, except for general obligation bond principal andinterest which are reported when due. The governmental funds use the followingpractices in recording revenues and expenditures:

Revenues

Federal and state entitlements (unrestricted grants-in-aid, which include stateequalization and state revenue sharing) are recorded when available and measurable.Expenditure-driven federal and state grants, which are restricted as to the purpose ofthe expenditures, are recorded when the reimbursable expenditures have beenincurred.

Ad valorem taxes are recorded in the year the taxes are due and payable. Advalorem taxes are assessed in November, by the Parish Assessor, based on theassessed value and become due on December 31 of each year. The taxes becomedelinquent on January 1. An enforceable lien attaches to the property as of January 1.The taxes are generally collected in December, January, and February of the fiscalyear. Property tax revenues are accrued at fiscal year-end to the extent that they havebeen collected but not received by the St. Martin Parish Tax Collector's Office. Suchamounts are measurable and available to finance current operations.

Interest income on time deposits is recorded when earned.

Sales and use tax revenues are recorded in the month earned by the SchoolBoard.

Substantially all other revenues are recorded when received.

Expenditures

Salaries are recorded as expenditures when incurred. Nine-month employeesalaries are incurred over a nine-month period but paid over a twelve-month period.

Compensated absences are recognized as expenditures when leave is actuallytaken or when employees (or heirs) are paid for accrued leave upon retirement ordeath.

Commitments under construction contracts are recognized as expenditureswhen earned by the contractor.

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Principal and interest on general long-term obligations are not recognizeduntil due.

All other expenditures are generally recognized under the modified accrualbasis of accounting when the related fund liability is incurred.

The proprietary fund utilizes the accrual basis of accounting. Under theaccrual basis of accounting, revenues are recognized when earned and expenses arerecorded when the liability is incurred or economic asset used.

Other Financing Sources (Uses)

Transfers between funds that are not expected to be repaid (or any othertypes, such as capital lease transactions, sales of capital assets, debt extinguishments,long-term debt proceeds, et cetera) are accounted for as other financing sources(uses). These other financing sources (uses) are recognized at the time the underlyingevents occur.

Deferred Revenues

Deferred revenues arise when resources are received before the School Boardhas a legal claim to them, as when grant monies are received prior to the incurrence ofqualifying expenditures or when tuition is received in advance of the commencementof classes.

In subsequent periods, when the School Board has a legal claim to theresources, the liability for deferred revenue is removed from the balance sheet and therevenue is recognized.

D. Assets. Liabilities and Equity

Cash and interest-bearing deposits

For purposes of the Statement of Net Assets, cash and interest-bearingdeposits include all demand accounts, savings accounts, and certificates of deposits ofthe School Board. For the purpose of the proprietary fund statement of cash flows,"cash and cash equivalents" include all demand and savings accounts, and certificatesof deposit or short-term investments with an original maturity of three months or lesswhen purchased.

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Investments

Under state law the School Board may deposit funds with a fiscal agentorganized under the laws of the State of Louisiana, the laws of any other state in theunion, or the laws of the United States. The School Board may invest in UnitedStates bonds, treasury notes and bills, government backed agency securities, orcertificates and time deposits of state banks organized under Louisiana law andnational banks having principal offices in Louisiana. In addition, local governmentsin Louisiana are authorized to invest in the Louisiana Asset Management Pool(LAMP), a nonprofit corporation formed by the State Treasurer and organized underthe laws of the State of Louisiana, which operates a local government investmentpool. At June 30, 2008, the School Board's investments in LAMP are stated atmarket value. See additional information in Note 3.

Interfund receivables and payables

During the course of operations, numerous transactions occur betweenindividual funds that may result in amounts owed between funds. Those related togoods and services type transactions are classified as "due to and from other funds."Short-term interfund loans are reported as 'interfund receivables and payables."Interfund receivables and payables as well as due to and from other funds areeliminated in the Statement of Net Assets.

Receivables

Receivables consist of all revenues earned at year-end and not yet received.The majority of this balance is comprised of federal and state grants.

Inventories

The cost of inventories is recorded as expenditures when consumed ratherthan when purchased. Reserves are established for an amount equal to the carryingvalue of inventories.

Inventory of the School Lunch Special Revenue Fund consists of expendablesupplies and food purchased by the School Board and commodities granted by theUnited States Department of Agriculture through the Louisiana Department ofAgriculture and Forestry. The commodities are recorded as revenues when received;however, all inventory items are recorded as expenditures when consumed or used.All purchased inventory items are valued at the lower of cost (first-in, first-out) ormarket, and commodities are assigned values based on information provided by theUnited States Department of Agriculture.

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ST. MARTIN PARISH SCHOOL BOARDSt. MartinvilJe, Louisiana


Capital Assets

The accounting treatment over property, plant and equipment (capital assets)depends on whether they are reported in the government-wide or fund financialstatements.

In the government-wide financial statements, capital assets are capitalized athistorical cost, or estimated historical cost if actual is unavailable, except for donatedassets, which are recorded at their estimated fair value at the date of donation. TheSchool Board maintains a threshold level of $5,000 or more for capitalizing capitalassets for purposes of the government wide financial statements. For internalpurposes, the Board maintains a threshold level of $1,000.

Depreciation of all exhaustible capital assets is recorded as an allocatedexpense in the Statement of Activities, with accumulated depreciation reflected in theStatement of Net Assets. Depreciation is provided over the assets' estimated usefullife using the straight-line method of depreciation. The range of estimated useful livesby type of asset is as follows:

Buildings and improvements 20 - 40 yearsFurniture and equipment 5 - 1 5 years

The cost of normal maintenance and repairs that do not add to the value of theasset or materially extend asset lives are not capitalized.

In the fund financial statements, capital assets used in governmental fundoperations are accounted for as facilities acquisition and construction expenditures ofthe governmental fund upon acquisition.

The School Board does not possess any material amounts of infrastructurecapital assets, such as sidewalks and parking lots. Amounts expended for such itemsprior to June 30, 2003 were considered to be part of the cost of buildings andimprovements. In the future, if such items are built or constructed, and appear to bematerial in cost compared to all capital assets, they will be capitalized and depreciatedover their estimated useful lives as with all other depreciable capital assets.

Compensated Absences

All twelve month employees earn from ten to fifteen days of vacation leaveeach year, depending on their length of service with the School Board, which are notcredited to the employee until the first day of the year subsequent to the year thatvacation was earned. Newly hired employees earn vacation on a pro rata basis. Anemployee cannot accumulate more than two years of earned vacation. Any excess islost. Employees are paid for unused vacation (subject to a two year limitation) at thetime of resignation.

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All twelve month employees earn from twelve to eighteen days of sick leaveeach year. Teachers and other nine month employees earn ten days of sick leave eachyear. Sick leave may be accumulated. Upon retirement or death unused accumulatedsick leave of up to twenty-five days is paid to the employee or to the employee'sestate at the employee's current rate of pay. Under the Louisiana Teachers RetirementSystem, the total unused accumulated sick Jeave is used in the retirement benefitcomputation as earned service. Under the Louisiana School Employees RetirementSystem, all unpaid sick leave, which excludes the twenty-five days paid, is used in thecomputation of retirement benefits as earned service. Upon resignation, all sick leaveis forfeited.

Sabbatical leave may be granted for medical reasons and for professional andcultural improvement. Any employee with a teaching certificate is entitled, subject toapproval by the School Board, to one semester of sabbatical leave after three years ofcontinuous service or two semesters of sabbatical leave after six or more years ofcontinuous service. Due to its restrictive nature, sabbatical leave benefits arerecorded as an expenditure in the period paid.

In the government-wide statements, amounts of vested or accumulated sickleave that are not expected to be liquidated with expendable available financialresources are recorded as long-term debt.

At June 30, 2008, employees of the School Board have accumulated andvested $4,107,366 of compensated absence benefits payable. Salary related paymentsare not accrued since this amount is deemed to be insignificant.

Long-term debt

The accounting treatment of long-term debt depends on whether the assets areused in governmental fund operations or proprietary fund operations and whether theyare reported in the government-wide or fund financial statements. Since the SchoolBoard's only Proprietary Fund is the Self-Insurance Internal Service Fund, which hasno long-term debt, all School Board long-term debt is used in governmental fundoperations.

All long-term debt to be repaid from governmental resources is reported asliabilities in the government-wide statements. The long-term debt consists primarilyof general obligation bonds.

Long-term debt for governmental funds is not reported as liabilities in thefund financial statements. The debt proceeds are reported as other financing sourcesnet of the applicable premium or discount and payment of principal and interestreported as expenditures. For fund financial reporting, issuance costs, even ifwithheld from the actual net proceeds received, are reported as debt serviceexpenditures.

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Equity Classifications

In the government-wide statements, equity is classified as net assets anddisplayed in three components:

a. Invested in capital assets, net of related debt - Consists of capitalassets including restricted capital assets, net of accumulated depreciation andreduced by the outstanding balances of any bonds, mortgages, notes, or otherborrowing that are attributable to the acquisition, construction, orimprovement of those assets.

b. Restricted net assets - Consists of net assets with constraints placedon the use either by (1) external groups, such as creditors, grantors,contributors, or laws or regulations of other governments; or (2) law throughconstitutional provisions or enabling legislation.

c. Unrestricted net assets - All other net assets that do not meet thedefinition of "restricted" or "invested in capital assets, net of related debt."

In the fund financial statements, governmental fund equity is classified asfund balance. Fund balance is further classified as reserved and unreserved, withunreserved further split between designated and undesignated. Proprietary fund equityis classified the same as in the government-wide statements.

Fund balance reserved for other purposes is comprised of the following:

State and LocalGeneral Special Revenue

Fund Funds Total

Salaries and operating expenses(1965 sales tax issue)

Salaires and benefits(1990 sales tax issue)

Inventory 133,403

3,992,199 $3,992,199

4,945,355 4,945,355

173,899 305,302

$ 131,403 $ 9,111,453 $9,242,856

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Fund balance designated is comprised of the following:

Health centers $ 187,458Transportation Special Revenue Fund 233,806

Total $ 421,264

E. Budget Practices

The School Board adopted budgets for the General Fund and the SpecialRevenue Funds. Budgets are prepared on a modified accrual basis of accounting. Allappropriations lapse at year end, and any encumbrances outstanding are included inthe next year's budget. Formal budget accounts are integrated into the accountingsystem as a management control device.

The superintendent of schools and the chief financial officer are authorized totransfer amounts between budgeted line items within any fund. However, anyunfavorable variances of revenues or expenditures of five percent or more within afund must be presented to the School Board for Board action to amend fund budgets.Budgeted amounts included in the accompanying financial statements include theoriginal adopted budgets and all subsequent amendments.

F. Revenue Restrictions

The School Board has various restrictions placed over certain revenue sourcesfrom state or local requirements. The primary restricted revenue sources include:

Revenue Source Legal Restrictions on UseSales and use taxes See Note 10Ad valorem taxes See Note 4

The School Board uses unrestricted resources only when restricted resourcesare fully depleted.

G. Use of Estimates

The preparation of financial statements in conformity with generally acceptedaccounting principles requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure of contingent assetsand liabilities at the date of the financial statement and the reported amounts ofrevenues and expenditures during the reporting period. Actual results could differfrom those estimates.

29



(2) Cash and Interest-Bearing Deposits

Under state law, the School Board may deposit funds within a fiscal agent bank organizedunder the laws of the State of Louisiana, the laws of any other state in the Union, or the laws of theUnited States. The School Board may invest in certificates and time deposits of state banks organizedunder Louisiana law and national banks having principal offices in Louisiana. At June 30, 2008, theSchool Board has cash and cash equivalents (book balances) totaling $7,496,334 as follows:

Governmental FiduciaryFunds Funds Total

Demand depositsInterest-bearing depositsAmounts owed to governmental funds

$ 1,6087,148,845

26,388

$ 3,564342,317(26,388)

$ 5,1727,491,162

-

Total $ 7,176,841 $ 319,493 $ 7,496,334

These deposits are stated at cost, which approximates market. Custodial credit risk is therisk that in the event of a bank failure, the School Board's deposits may not be returned to it. TheSchool Board's policy, by state law, is that all deposits must be secured by federal deposit insuranceor the pledge of securities owned by the fiscal agent bank. The market value of the pledgedsecurities plus the federal deposit insurance must at all times equal the amount on deposit with thefiscal agent bank. These securities are held in the name of the pledging fiscal agent bank in a holdingor custodial bank that is mutually acceptable to both parties. Deposit balances (bank balances) atJune 30, 2008 are secured as follows:

Bank balances $ 8,966,168

At June 30, 2008 the deposits are secured as follows:InsuredUninsured and collateral held by pledging bank not in School Board's name

Total

$ 201,7078,764,461

$ 8,966,168

(3) Investments

The School Board can invest in direct debt securities of the United States unless lawexpressly prohibits such an investment The School Board's investments are categorized to give anindication of the level of risk assumed by it at year-end. Category 1 includes investments that areinsured or registered or for which the securities are held by the School Board or its agent in theSchool Board's name. Category 2 includes uninsured and unregistered investments with securitiesheld by the counterparty's trust department or agent in the School Board's name. Category 3 includesuninsured and unregistered investments with securities held by the counterparty, or by its trustdepartment or agent, but not in the School Board's name.

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Investments consist of amounts on deposit with the Louisiana Asset Management Pool(LAMP) and Morgan Keegan and Company, Inc. An investment in the amount of $22,839,899 atJune 30, 2008 is deposited in LAMP, a local government investment pool, of which $726,586 isattributable to the fiduciary fund, which is not presented in the statement of net assets. In accordancewith GASB Codification Section 150.165, the investment in LAMP is not categorized into the threerisk categories provided by GASB Codification Section 150.164 because the investment is in the poolof funds and thereby not evidenced by securities that exist in physical or book entry form.

LAMP is administered by LAMP, Inc., a non-profit corporation organized under the laws ofthe State of Louisiana. Only local government entities having contracted to participate in LAMPhave an investment interest in its pool of assets. The primary objective of LAMP is to provide a safeenvironment for the placement of public funds in short-term, high quality investments. The LAMPportfolio includes only securities and other obligations in which local governments in Louisiana areauthorized to invest in accordance with LSA-R.S. 33:2955. Accordingly, LAMP investments arerestricted to securities issued, guaranteed, or backed by the U.S. Treasury, the U.S. government, orone of its agencies, enterprises, or instrumentalities, as well as repurchase agreements collateralizedby those securities.

Effective August 1, 2001, LAMP'S investment guidelines were amended to permit theinvestment in government-only money market funds. In its 2001 Regular Session, the LouisianaLegislature (Senate Bill No, 512, Act 701) enacted LSA-R.S. 33:2955 (a) (1) (h) which allows allmunicipalities, parishes, school boards, and any other political subdivisions of the State to invest in"Investment grade (A-l/P-1) commercial paper of domestic United States corporations." EffectiveOctober 1, 2001, LAMP'S investment guidelines were amended to allow the limited investment in A-1 or A-1+ commercial paper.

The dollar weighted average portfolio maturity of LAMP assets is restricted to not more than90 days, and consists of no securities with a maturity in excess of 397 days. LAMP is designed to behighly liquid to give its participants immediate access to their account balances. The investments inLAMP are stated at fair value based on quoted market rates. The fair value is determined on aweekly basis by LAMP and the value of the position in the external investment pool is the same asthe value of the pool shares.

LAMP; Inc. is subject to the regulatory oversight of the state treasurer and the board ofdirectors. LAMP is not registered with the SEC as an investment company.

At June 30, 2008, the School Board's investment, at cost, is $22,850,130. The amortized costof this investment at June 30, 2008 was also $22,850,130. The market value of this investment atJune 30, 2008 was $22,839,899.

An investment in the amount of $10,966,185 at June 30, 2008 is deposited into MorganKeegan and Company, Inc. This investment is composed of government securities which are fullyguaranteed as to payment by the United States government. Because of the safety of this investment,this investment takes exception to state law requiring security of federal deposit insurance or thepledge of securities owned by the fiscal agent bank.

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As of June 30, 2008, the investments in Morgan Keegan and Company, Inc. were comprisedof the following.

Investment Maturities Fair Values

Federal Home Loan Bank 10/28/08 to 4/15/20 $ 6,930,725Fannie Mae 7/06/10 to 6/20/13 2,033,780Federal Farm Credit Bank 12/04/17 2,001,680

Total $10,966,185

The School Board does not have a formal investment policy that limits investment maturitiesas a means of managing its exposure to fair value losses arising from increasing interest rates.

(4) Ad Valorem Taxes

The following is a summary of authorized and levied ad valorem taxes:

Mi 11 ages2008 2007

Parishwide taxes:Constitutional 2.93 2.93

Special school-Maintenance 9.35 9.35Operation and maintenance 1.85 1.85

School bonds 22.39 22.39

Ad valorem taxes attach as an enforceable lien on property as of January 1 of each year.During the fiscal year ended June 30, 2008, taxes were levied by the School Board in July and werebilled to taxpayers by the Assessor in November. Billed taxes are due by December 31, becomingdelinquent on January 1 of the following year.

The taxes are based on assessed values determined by the Tax Assessor of St. Martin Parishand are collected by the Sheriff. The taxes are remitted to the School Board net of deductions forPension Fund contributions.

The School Board received ad valorem taxes that were paid under protest. It is possible thatthese taxes (or a portion thereof) will have to be returned to the taxpayer. The amount received of$234,312 is reflected as a restricted asset. The estimated amount that may have to be refunded is$234,312 and is reflected as deferred revenue on the balance sheet at June 30, 2008.

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(5)

(6)

(7)

Receivables

Receivables at June 30, 2008 of $1,807,078 consisted of the following:

Accrued interestSpecific stop loss receivablesRebatesSales taxesOther

Due from Other Governmental Agencies

$ 108,388159,991126,325

1,107,029305,345

$1,807,078

Due from other governmental agencies of $2,738,868 consisted primarily of amounts duefrom the State of Louisiana Department of Education for various appropriations and reimbursements.

Capital Assets

Capital assets balances and activity for the year ended June 30, 2008 is as follows:

BalanceJuly 1,2007 Additions Deletions

BalanceJune 30, 2008

Capital assets notbeing depreciated:

LandConstruction in progress

Other capital assets:Buildings and improvementsFurniture and equipment

Total

Less accumulated depreciation:Buildings and improvementsFurniture and equipment

Total

Net capital assets

At June 30, 2008, construction in progress of $118,670 consists of costs incurred to date onone school improvement project.

$ 815,012195,400

70,372,3316,907,782

78,290,525

29,867,3275,092,072

34,959,399

$43,331,126

$ 8,243689,697

758,184837,963

2,294,087

1,400,970398,331

1,799,301

$ 494,786

$(766,427)

(82,437)(848,864)

(76,933)

(76,933)

$ (771,931)

$ 823,255118,670

71,130,5157,663,308

79,735,748

31,268,2975,413,470

36,681,767

$43,053,981

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Depreciation expense was charged to governmental activities as follows:

Regular education programs $ 632,526Special education programs 193,042Vocational education programs 36,020Other instructional programs 35,777Special programs 141,514Adult and continuing education programs 3,236Pupil support services 106,797Instructional staff support 87,059General administration 30,299School administration 88,866Business services 24,170Operation and maintenance of plant services 150,682Student transportation services 129,526Central services 18,344Food services 114,928Community services programs 6,515

Total depreciation expense $ 1,799,301

(8) Other Pavables

At June 30, 2008, a breakdown of other payables of $579,695 was as follows:

Accounts $ 575,048Other liabilities 4,647

$ 579,695

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(9) Changes in General Long-Term Liabilities

The following is a summary of the changes in general long-term debt for the year ended June30, 2008:

Obligations payable at July 1, 2007

AdditionsAdd: amortizationReductions

Compensated BondedAbsences Debt Total

$ 3,626,760 $28,019,885 $31,646,645

2,339,301 - 2,339,30142,191 42,191

(1,858,695) (1,894,091) (3,752,786)

Obilgations payable at June 30, 2008 $ 4,107,366 $26,167,985 $30,275,351

Compensated Absences

Compensated absences payable consists of the portion of accumulated sick leave andvacation leave of the governmental funds that is not expected to require current resources. TheGeneral Fund and Special Revenue Funds have historically been used to pay compensated absences(when applicable).

35



Bonded Debt

School Board bonds outstanding at June 30, 2008 consist of parishwide general obligationschool bonds and qualified zone academy bonds as follows:

Final InterestOriginal Interest Payment to Principal

Date of Issue Issue Rates Date Maturity Outstanding

Parishwide general obligationschool bonds March 1, 1998

Parishwide general obligationschool bonds March 1, 2000

Qualified zone academy bondsFebruary 1,2002

Parishwide general obligationschool bonds July 1, 2002

Parishwide general obligationschool bonds July 1, 2003

Parishwide general obligationschool re funding bonds;October 1,2004

Parishwide general obligationschool refunding bonds;March 1, 2005

Parishwide general obligationschool refunding bonds;March 1, 2006

$10,000,000 5.00 3/01/08 $

2,000,000 5.25-6.25 3/01/10 14,700 185,000

1,500,000 11/01/15 818,182

8,000,000 4.125-5.125 03/01/22 2,516,934 6,415,000

4,000,000 3.00-4.00 03/01/23 1,074,209 3,340,000

3,455,000 3.00 - 3.75 03/01/16 469,006 2,800,000

5,490,000 3.00-4.50 03/01/17 1,093,087 4,970,000

8,080,000 4.00 - 5.00 03/01/20 2,097,800 8,050,000

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All principal and interest requirements on the parishwide general obligation school bonds arefunded in accordance with Louisiana law by an annual ad valorem tax levy on taxable propertywithin the parish. At June 30, 2008, the School Board has accumulated $1,922,778 in the debtservice funds for future debt requirements. The bonds are due as follows:

Principal InterestYear Ending June 30 Payments Amortization Payments Total

2009 $ 1,979,091 $ (42,191) $ 1,054,459 $ 2,991,3592010 2,069,091 (42,191) 985,713 3,012,6132011 2,159,091 (42,191) 907,730 3,024,6302012 2,244,091 (42,191) 830,249 3,032,1492013 2,354,091 (42,191) 748,346 3,060,246

2014-2018 11,732,727 (173,455) 2,267,398 13,826,6702019-2023 4,040,000 (25,787) 471,841 4,486,054

$ 26,578,182 $ (410,197) $ 7,265,736 $ 33,433,721

(10) Sales and Use Taxes

The School Board is authorized and has levied the following sales and use taxes:

1. March 20. 1965(1%)

After paying collection and administration costs, the tax is tobe used for salaries of teachers and for the expenses of operatingschools, including payment of other personnel in addition to teachers.

2. July 21, 1990(1%)

The tax is to be used for the payment of all debt servicerequirements on all outstanding bonds payable from the pledge of saidtax, with the remainder to be used for the purpose of paying salariesand related benefits for professional and paraprofessional employees ona seven to five ratio. There are currently no bonds outstanding forwhich this tax is pledged.

(11) Pension Plan

Eligible employees of the School Board participate in one of six defined benefit multiple-employer public employee retirement systems (PERS), which are controlled and administered by a

37



separate board of trustees. These retirement systems provide retirement, disability and death benefitsto plan members and their beneficiaries. Pertinent information relative to each plan follows:

A. Louisiana Teachers' Retirement System of Louisiana - Regular

Plan members are required to contribute 8.0 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 16.6 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007 and 2006 were$6,030,489, $5,132,619, and $4,891,530, respectively, equal to the requiredcontribution for each year.

A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana Teachers' Retirement System, P.O. Box 94123, Baton Rouge, Louisiana70804-9123.

B. Louisiana Teachers' Retirement System of Louisiana - Plan A

Plan members are required to contribute 9.1 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 16.6 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$50,737, $44,060, and $42,010, respectively, equal to the required contribution foreach year.


C. Louisiana Teachers' Retirement System of Louisiana-Optional

Plan members are required to contribute 8.0 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 16.6 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$11,591, $10,259, and $0, respectively, equal to the required contribution for eachyear.


38



D. Parochial Employees' Retirement System

Plan members are required to contribute 9.5 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 13.25 percent of the total covered salary. The School Board's total contributions tothe system for the years ended June 30, 2008, 2007 and 2006 were $1,248, $1,248,and $1,224, respectively, equal to the required contribution for each year.

A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theParochial Employees' Retirement System, P.O. Box 14619, Baton Rouge, Louisiana70898-4619.

E. Louisiana State Employees' Retirement System

Plan members are required to contribute 7.5 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 20.4 percent of the total annual covered salary. The School .Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$17,647, $15,468, and $13,880, respectively, equal to the required contributions foreach year.

A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana State Employees' Retirement System, P.O. Box 44213, Baton Rouge,Louisiana 70804-4213.

F. Louisiana School Employees' Retirement System

Plan members are required to contribute 7.5 percent of their annual coveredsalary to the system while the School Board is required to contribute the statutory rateof 18.1 percent of the total annual covered salary. The School Board's totalcontributions to the system for the years ended June 30, 2008, 2007, and 2006 were$772,894, $710,280 and $607,307, respectively, equal to the required contributionsfor each year.

A publicly available financial report that includes financial statements andrequired supplemental financial information may be obtained by writing to theLouisiana School Employees' Retirement System, P.O. Box 44516, Baton Rouge,Louisiana 70804.

39



(12) Changes in Agency Deposits Due Others

A summary of changes in agency fund deposits due others follows:School

Activity Sales TaxFund Fund Total

Balance at July 1,2007 $ 1,202,692 $ - $ 1,202,692

Additions 1,701,142 22,235,047 23,936,189Reductions (1,923,844) (22,235,047) (24,158,891)

Balance at June 30,2008 $ 979,990 $ - $ 979,990

(13) Risk Management

The School Board is exposed to risks of loss in the areas of health care, workers'compensation, general and auto liability and property hazards. Health care and workers'compensation risks are handled through a self-insurance plan as described below. The other risks arehandled by purchasing commercial insurance. There have been no significant reductions in theseinsurance coverages during the current fiscal year, nor have settlements exceeded insurance coveragefor the current or prior two fiscal years.

A. Workers' Compensation

The School Board has established a limited risk management program forworkers' compensation. The School Board hired Cannon Cochran ManagementServices, Inc. (CCMSI) as administrator for this program. During fiscal year 2008, atotal of $1,657,429 was incurred in benefits and administrative costs. The SchoolBoard purchases commercial insurance for individual claims in excess of $200,000.Incurred but not paid claims have been accrued as a liability in the WorkersCompensation Fund.

B. Group Self-Insurance

The School Board also established a limited risk management program for grouphospitalization insurance. This plan provides employee health benefits up to a$1,000,000 lifetime maximum with an annual $10,000 restoration. The School Boardpurchases commercial insurance for individual claims in excess of $150,000. Duringthe fiscal year ended June 30, 2008, several settled claims exceeded the commercialcoverage in the amount of $159,991.

40



The General and Special Revenue Funds of the School Board participate in theprogram and make payments to the Self-Insurance Fund based on amounts needed topay prior and current year claims. The claims liability of $980,000 reported in the fundat June 30, 2008, is based on the loss that is probable at the date of the financialstatements and the amount of the loss that can be reasonably estimated. The SchoolBoard currently does not discount its claims liabilities.

C. Reconciliation of Claims Liabilities

Changes in the claims liability amounts for the risk management programs areas follows:

Balance at Claims and Benefit Balance atBeginning of Changes in Payments FiscalFiscal Year Estimates and Claims Year-End

Workers' compensation:2005-20062006-20082007-2008

Group hospitalization:2005-20062006-20072007-2008

Claims payable of $1,443,420 for workers' compensation at June 30, 2008was obtained from information provided by the third party administrator.

Claims payable for group hospitalization of $980,000 at June 30, 2008 wasdetermined as follows:

1. Claims incurred prior to June 30, 2008and paid between July 1, and September 30, 2008 $ 526,760

2. Provision for claims incurred but not reported 453,240

Total claims payable $ 980,000

The provision for claims incurred but not reported of $453,240 was calculatedutilizing historical information.

$ 290,951502,492

1,049,507 .

1,695,0001,295,000995,000

$ 858,1821,476,8011,397,582

7,463,4288,208,0309,241,654

$ 646,641929,786

1,003,669

7,863,4288,508,0309,256,654

$ 502,4921,049,5071,443,420

1,295,000995,000980,000

41


Notes to Basic Financial Statements (Continued)(14) Compensation of Board Members

A detail of the compensation paid to individual board members for the year ended June 30,2008 follows:

Wanda Babin $ 9,600James Blanchard 10,800Aaron Flegeance 9,600Steve Fuselier 9,600Mark Hebert 9,600Floyd Knott 9,600Barbara Latiolais 9,600Rodney Ledoux 9,600Richard Potier 9,600Frederic Stelly 9,600

$ 97,200

(15) Commitments and Contingencies

A. Contingent LiabilitiesAt June 30, 2008, the School Board is involved in several lawsuits. In the

opinion of management and/or legal counsel for the School Board, resolution of theselawsuits will not involve any material liability (after meeting the insurance deductibleof $50,000 per occurrence) to the School Board in excess of insurance coverage.Total liability for lawsuits as well as other claims accrued at June 30, 2008 is$228,691 and is included in insurance claims payable on the statement of net assets.

B. Grant AuditAmounts received or receivable from grantor agencies are subject to audit and

adjustment by grantor agencies. Any disallowed claims, including amounts alreadycollected, may constitute a liability of the applicable funds. The amount, if any, ofexpenditures which may be disallowed by the grantor cannot be determined at thistime although the School Board expects such amounts, if any, to be immaterial.

C. Potential Misappropriation of Funds

1. At June 30, 2007, the School Board was conducting an internalinvestigation regarding potential misappropriation of funds. The dollar amountinvolved was approximately $4,000. As a result of this investigation, the employeeinvolved resigned. It was determined that there was insufficient evidence to pursuethe matter further. This matter is considered closed.

42



2. In May 2008, the School Board learned of a situation involving excessiveamounts of fuel purchases. Upon inquiry and internal investigation, the involvedemployee resigned. However, the employee did admit to using the fuel card forpersonal reasons. The amount in question is approximately $17,000. A receivable hasnot been recorded. Information has been submitted to both the District Attorney'soffice as well as the Sheriffs office. The outcome of these external investigations isuncertain at this time.

(16) Interfund Transactions

A. Interfund receivables and payables, by fund, at June 30, 2008 are as follows:Receivables Payables

Major funds:General FundState and Local Special Revenue Funds

Total major funds

Nonmajor governmental funds

Internal service funds

Total

$ 2,668,525

2,668,525

234,550

753,527

$ 779,9151,028,925

1,808,840

1,847,762

_

$ 3,656,602 $ 3,656,602

The amounts shown are primarily for reimbursements owed for expenditurespaid by one fund on behalf of another fund. All balances should be repaid within oneyear.

B. Transfers consisted of the following at June 30, 2008:

Major funds:General FundState and Local Special Revenue Funds

Nonmajor governmental funds

Total

Transfers In Transfers Out

$11,212,527 $ 3,104,0791,122,324 10,791,627

1,979,797 418,942

$14,314,648 $14,314,648

Transfers are used to (a) move revenues from the fund that statute or budgetrequires to collect them to the fund that statute or budget requires to expend them andto (b) use unrestricted revenues collected in the general fund to finance variousprograms accounted for in other funds in accordance with budgetary authorizations.

43



(17) Post-Retirement Health Care and Life Insurance Benefits

The School Board provides continuing health care benefits for its retired employees.Substantially all of the School Board's employees become eligible for these benefits if theyreach normal retirement age while working for the School Board. The monthly premiums ofthese benefits for retirees are shared by the employee (approximately 31%) and by the SchoolBoard (approximately 69%). The School Board had approximately 520 retirees and incurreda cost of approximately $2,433,996 as it relates to retiree benefits for the year ended June 30,2008.

In June 2004, The Governmental Accounting Standards Board issued Statement No.45, "Accounting and Financial Reporting by Employers for Post-employment Benefit PlansOther Than Pensions Plans." The School Board is required to implement this standard for theyear ended June 30, 2009. The School Board has not yet determined the full impact that theadoption will have on the financial statements.

44

REQUIRED SUPPLEMENTARYINFORMATION

45


General Fund

Budgetary Comparison ScheduleFor the Year Ended June 30, 2008

Revenues:Local sources -

Ad valorem taxesTuitionTransportationInterest earningsRentals, leases, and royaltiesOther

State sources -Unrestricted grants-in-aidRestricted grants-in-aidRevenue in lieu of taxesOther state revenues

Total revenues

Expenditures:Instruction -

Regular education programsSpecial education programsVocational education programsOther instructional programsSpecial programsAdult and continuing education programs

Support services -Pupil support servicesInstructional staff servicesGeneral administrationSchool administrationBusiness servicesOperation and maintenance of plantStudent transportation servicesCentral services

Community service programs

Total expenditures

Deficiency of revenues over expenditures

Other financing sources (uses):Operating transfers inOperating transfers out

Total other financing sources

Excess of revenues and other sourcesover expenditures

Fund balance, beginning

Fund balance, ending

BudgetOriginal

$ 2,248,100 $39,10041,800

972,500590,000347,000

43,835,904286,000262,000

20,000

48,642,404

25,621,2457,642,1001,374,000

638,600391,60041,400

1,934,0002,746,400

785,9003,578,5001,054,3606,059,4004,420,900

834,30026,800

57,149,505

(8,507,101)

10,735,428(1,363,414)

9,372,014

864,913

16,193,392

$ 17,058,305 $

Final

2,378,89036,77326,600

1,006,000512,000460,225

43,838,500254,464283,600

20,050

48,817,102

25,386,3657,147,5901,311,288

686,872432,86147,333

2,083,1822,796,514

866,4043,712,7711,059,4296,400,4124,740,707

910,97732,149

57,614,854

(8,797,752)

11,294,455(2,236,631)

9,057,824

260,072

16,193,392

16,453,464

Actual

$ 2,402,07038,70367,422

1,065,169637,267748,181

43,838,592270,342283,743

17,849

49,369,338

25,365,5687,201,5291,323,470

711,004404,533

32,125

2,132,8132,680,417

981,5883,622,803

982,7626,124,9354,551,995

741,36032,645

56,889,547

(7,520,209)

1 1,21 2,527(3,104,079)

8,108,448

588,239

16,193,392

$ 16,781,631

Variance -Final budgetvs. ActualPositive

(Negative)

$ 23,1801,930

40,82259,169

125,267287,956

9215,878

143(2,201)

552,236

20,797(53,939)(12,182)(24,132)28,32815,208

(49,631)116,097

(115,184)89,96876,667

275,477188,712169,617

(496)

725,307

1,277,543

(81,928)(867,448)

(949,376)

328,167

.

$ 328,167

46


State and Local Special Revenue Funds

Budgetary Comparison ScheduleFor the Year Ended June 30,2008

Revenues:Local sources -

Sales taxesInterest earningsOther

State sources -Unrestricted grants-in-aidRestricted grants-in-aid

Federal sources -Restricted grants-in-aid through the stateValue of USDA Commodities

Total revenues

Expenditures:Instruction -

Regular education programsSpecial education programsOther instructional programsSpecial programsAdult and continuing education programs

Support services -Pupil support servicesInstructional staff servicesGeneral administrationSchool administrationOperation and maintenance of plantStudent transportation servicesCentral services

Food service

Total expenditures

Excess of revenues over expenditures

Other financing sources (uses):Operating transfers inOperating transfers out

Total other financing uses

Excess (deficiency) of revenues and other sourcesover expenditures and other uses

Fund balance, beginning

Fund balance, ending

BudgetOriginal

$ 11,718,841 $34,295

393,884

61,1641,884,724

4,625,823212,000

18,930,731

184,71339,262

509,0151,757,095

21,670

910,010274,915244,464

2,40046,000

820,35280,000

4,573,2919,463,187

9,467,544

1,122,324(10,454,430)

(9,332,106)

135,438

9,114,326

$ 9,249,764 $

Final

12,006,34195,235

431,655

61,1644,083,417

2,748,744224,948

19,651,504

433,32840,456

675,6841,739,510

26,402

873,055266,929248,864

2,08046,000

821,94780,000

4,761,977

10,016,232

9,635,272

1,122,324(10,859,810)

(9,737,486)

(102,214)

9,114,326

9,012,112

Actual

$ 12,101,53681,205

419,592

61,1643,858,824

2,707,343224,948

19,454,612

426,13240,456

614,7821,592,495

26,402

868,869266,084251,069

2,08015,112

729,638-

4,680,039

9,513,158

9,941,454

1,122,324(10,791,627)

(9,669,303)

272,151

9,114,326

$ 9,386,477

Variance -Final budgetvs. ActualPositive

(Negative)

$ 95,195(14,030)(12,063)

_

(224,593)

(41,401)-

(196,892)

7,196-

60,902147,015

-

4,186845

(2,205)-

30,88892,30980,00081,938

503,074

306,182

68,183

68,183

374,365

.

$ 374,365

47

OTHER SUPPLEMENTARY INFORMATION

48

INTERNAL CONTROL

COMPLIANCE

AND

OTHER INFORMATION

49

C. Burton KoWer, CPA*Russell F. Champagne, CPA"Victor R. Slaven, CPA*P. Troy Courvilte, CPA*Gerald A, Thibodeaux, Jr.,CPA"Robert S. Carter, CPA"Arthur R. Mixon, CPA*

KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC

Tynes E. Mixon. Jr., CPAAllen J. LaBry, CPAAlbert R. Leger, CPA.PFS.CSA*Penny An0e)le Scnjgnins. CPAChristine L Cousin, CPAMary T. TMxxteaux, CPAMarshall W. Gutdry, CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Mete, CPAKeOy M. Doucet. CPACheryl L Bartiey, CPA CVAMandy B. Sell. CPAPaul L. Detcambm, Jr. CPAWanda F. Arcement, CPAKristin B. Dauzat, CPARichard R- Andereon ST., CPACarolyn C Anderson, CPA

Retired:Conrad 0- Chapman, CPA' 2006Harry J. Ctosfo, CPA 2007

" A Profession* Accounting Corporation

CERTIFIED PUBLIC ACCOUhTTANTS

P.O. BOX 250Breaux Bridge, l_A 70517

Phone (337) 332-4020Fax (337) 332-2867

OFFICES

1B3 South Beadle Rd.Lafayette, LA 70508Phone (337) 232-4141Fax (337) 232-8660

450 East Mam StreeNew Iberia, LA 7056C

Phone (337) 367-9204Fax (337) 367-9206

113 East BridoeSt 200 South Mam StreeBreaux Bridge, LA 70517 Abbevilte, LA 7051 (Phone (337) 332-4020 Phone (337) B93-79*Fax (337) 332-2867 Fax (337) 893-794*

1234 David Dr. Ste203Morpan City, LA 70380Phone (985) 384-2020Fax (985) 384-3020

408 West Cotton StreetVilte Ptatte. LA 70586Phone (337) 363-2732Fax (337) 36 -3049

332 West Sixth AvenueObertin, LA 70655Phone (337) 639-4737Fax (337) 63&-456B

1013 Main StreeFranklin, LA 7D53J

Phone (337) SZWJZr.Fax (337) 62B-Q29C

133 East WadcSIStMarksvilteLA7135-

Phone (318) 253-925:Fax (318) 253-868-

621 Main StreePineville, LA7136C

Phone (318) 442-442-Fax (318) 442-983;

WEBSFTE;WWW.KCSRCPAS.COM

REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING AND ON COMPLIANCE AND OTHERMATTERS BASED ON AN AUDIT OF FINANCIAL

STATEMENTS PERFORMED IN ACCORDANCE WITHGOVERNMENT AUDITING STANDARDS



We have audited the accompanying financial statements of the governmental activities, each majorfund, and the aggregate remaining fund information of the St. Martin Parish School Board, as of and for theyear ended June 30, 2008, which collectively comprise the St. Martin Parish School Board's basic financialstatements and have issued our report thereon dated November 14, 2008. We conducted our audit inaccordance with auditing standards generally accepted in the United States of America and the standardsapplicable to financial audits contained in Government Auditing Standards, issued by the ComptrollerGeneral of the United States.

Internal Control Over Financial Reporting

In planning and performing our audit, we considered the St. Martin Parish School Board's internalcontrol over financial reporting as a basis for designing our auditing procedures for the purpose of expressingour opinions on the financial statements, but not for the purpose of expressing an opinion on the effectivenessof the St. Martin Parish School Board's internal control over financial reporting. Accordingly, we do notexpress an opinion on the effectiveness of the St. Martin Parish School Board's internal control overfinancial reporting.


50Member of:

SOCIETY OF LOUISIANACERTIFIED PUBLIC ACCOUNTANTS

A control deficiency exists when the design or operation of a control does not allow management oremployees, in the normal course of performing their assigned functions, to prevent or detect misstatements ona timely basis. A significant deficiency is a control deficiency, or a combination of control deficiencies, thatadversely affects the St. Martin Parish School Board's ability to initiate, authorize, record, process, or reportfinancial data reliably in accordance with generally accepted accounting principles such that there is morethan a remote likelihood that a misstatement of the St. Martin Parish School Board's financial statements thatis more than inconsequential will not be prevented or detected by the St. Martin Parish School Board'sinternal control.

A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that a material misstatement of the financial statements will not beprevented or detected by the St. Martin Parish School Board's internal control.

Our consideration of internal control over financial reporting was for the limited purpose describedin the first paragraph of this section and would not necessarily identify all deficiencies in internal control thatmight be significant deficiencies or material weaknesses. We did not identify any deficiencies in internalcontrol over financial reporting that we consider to be material weaknesses, as defined above.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the St. Martin Parish School Board'sfinancial statements are free of material misstatement, we performed tests of its compliance with certainprovisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have adirect and material effect on the determination of financial statement amounts. However, providing anopinion on compliance with those provisions was not an objective of our audit, and accordingly, we do notexpress such an opinion. The results of our tests disclosed no instances of noncompliance or other mattersthat are required to be reported under Government Auditing Standards.

This report is intended solely for the information and use of management, others within the entity,Board Members, and federal awarding agencies and pass-through entities and is not intended to be andshould not be used by anyone other than these specified parties. Although the intended use of this report maybe limited, under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as apublic document.

Kolder, Champagne, Slaven& Company, LLCCertified Public Accountants

Breaux Bridge, LouisianaNovember 14, 2008

51

C. Burton KoWer. CPA*Russell F. Champagne. CPA*Victor Ft Slaven, CPA'P. Troy Courviile, CPA*Gerald A. Thibodeaux, Jr.,CPA"Roberts. Carter, CPA*Arthur R. Mbcon, CPA"

KOLDER, CHAMPAGNE, SLAVEN & COMPANY,CERTIFIED PUBLIC ACCOUNTANTS

LLC

Tynes E. Mixon, Jr.. CPAAllen J. LaBry, CPAAlbert R. Leoar, CPA.PFS.CSA*Penny Angelte Scnjgojns, CPAChristine L Cousin, CPAMary T. Thfcodeaux, CPAMarshall W. Gurdry. CPAAlan M. Taylor. CPAJames R. Roy. CPARobert J. Met, CPAKelly M. Doucet, CPACheryl L Barttey. CPA, CVAMandy B Self, CPAPaul L Delcambre, Jr. CPAWanda F. Arcament, CPAKristin B. Dauzat, CPARichard R. Anderson St., CPACarolyn C. Anderson, CPA

Retired:Conrad 0. Chapman. CPA* 2006Hairy J. Clostio. CPA 2007

' A Professional Accourtino Cacporalion


Phone (337) 332-4020Fax (337) 332-2867

REPORT ON COMPLIANCE WITHREQUIREMENTS APPLICABLE TO EACHMAJOR PROGRAM AND ON INTERNAL

CONTROL OVER COMPLIANCE INACCORDANCE WITH OMB CIRCULAR A-133

OFFICES

1 S3 South Beadle Rd.Lafayette, LA 70508Phone (337) 232-4141Fax (337) 232-8660

450 East Main StreetNew Iberia, LA 7056C

Phone (337) 367-9204Fax (337) 367-9206

113 East Bridge St 200 South Main StrawBreaux Bridge. LA70517 Abbeville, LA7051tPhone (337) 332-4020 Phone (337) 893-794*Fax (337) 332-2867 Fax (337) 893-7946

1234 David Dr. Ste 203Morgan City. LA 70380Phone (985) 3B4-2020Fax (985) 384-3020

408 West Cotton StreetVille Plate, LA 70586Phone (337) 363-2792Fax (337) 363-3049

332 West Sixth AvenueObertin, LA 70655Phone (337) 639-4737Fax (337) 639-4568

1013MainStree!Franklin. LA 7053E

Phone (337) 828-0272Fax (337) 82W129C

133 East Waddil SiMarksvilleLA71351

Phone (318) 253-9252Fax (318) 253-8681

621 Main StreelPinevitte. LA7136C

Phone (318) 442-4421Fax (318) 442-9832

WEBSFTE;WWW. KCSRCPAS.COM

Mr. Richard Lavergne, Superintendentand Members of the St Martin ParishSchool Board


Compliance

We have audited the compliance of the St. Martin Parish School Board with the types ofcompliance requirements described in the U. S. Office of Management and Budget (OMB) CircularA-133 Compliance Supplement that are applicable to each of its major federal programs for the yearended June 30, 2008. The St. Martin Parish School Board's major federal programs are identified in thesummary of auditor's results section of the accompanying schedule of findings and questioned costs.Compliance with the requirements of laws, regulations, contracts and grants applicable to each of itsmajor federal programs is the responsibility of the St. Martin Parish School Board's management. Ourresponsibility is to express an opinion on the St. Martin Parish School Board's compliance based on ouraudit.

We conducted our audit of compliance in accordance with auditing standards generally acceptedin the United States of America; the standards applicable to financial audits contained in GovernmentAuditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133,Audits of States, Local Governments, and Non-Profit Organizations. Those standards and OMB CircularA-133 require that we plan and perform the audit to obtain reasonable assurance about whethernoncompliance with the types of compliance requirements referred to above that could have a direct andmaterial effect on a major federal program occurred. An audit includes examining, on a test basis,evidence about the St. Martin Parish School Board's compliance with those requirements and performingsuch other procedures as we considered necessary in the circumstances. We believe that our auditprovides a reasonable basis for our opinion. Our audit does not provide a legal determination of the St.Martin Parish School Board's compliance with those requirements.


52Member of:


In our opinion, the St. Martin Parish School Board complied, in all material respects, with therequirements referred to above that are applicable to each of its major federal programs for the yearended June 30, 2008.

Internal Control Over Compliance

The management of the St. Martin Parish School Board is responsible for establishing andmaintaining effective internal control over compliance with the requirements of laws, regulations,contracts, and grants applicable to federal programs. In planning and performing our audit, we consideredthe St. Martin Parish School Board's internal control over compliance with the requirements that couldhave a direct and material effect on a major federal program in order to determine our auditingprocedures for the purpose of expressing our opinion on compliance, but not for the purpose ofexpressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do notexpress an opinion on the effectiveness of the St. Martin Parish School Board's internal control overcompliance.

A control deficiency in an entity's internal control over compliance exists when the design oroperation of a control does not allow management or employees, in the normal course of performing theirassigned functions, to prevent or detect noncompliance with a type of compliance requirement of afederal program on a timely basis. A significant deficiency is a control deficiency, or a combination ofcontrol deficiencies, that adversely affects the School Board's ability to administer a federal programsuch that there is more than a remote likelihood that noncompliance with a type of compliancerequirement of a federal program that is more than inconsequential wil l not be prevented or detected bythe School Board's internal control.

A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that material noncompliance with a type of compliancerequirement of a federal program will not be prevented or detected by the School Board's internalcontrol.

Our consideration of internal control over compliance was for the limited purpose described inthe first paragraph of this section and would not necessarily identify all deficiencies in internal controlthat might be significant deficiencies or material weaknesses. We did not identify any deficiencies ininternal control over compliance that we consider to be material weaknesses, as defined above.

53

This report is intended solely for the information and use of management, others within theentity, Board Members, and federal awarding agencies and pass-through entities and is not intended to beand should not be used by anyone other than these specified parties. Although the intended use of thisreport may be limited, under Louisiana Revised Statute 24:513, this report is distributed by theLegislative Auditor as a public document.

Kolder, Champagne, Slaven & Company, LLCCertified Public Accountants

Breaux Bridge, LouisianaNovember 14,2008

54


Notes to Schedule of Expenditures of Federal AwardsFor the Year Ended June 30, 2008

0) Genera]

The accompanying Schedule of Expenditures of Federal Awards presents the activity ofall federal financial assistance programs of the St. Martin Parish School Board (the SchoolBoard). The School Board reporting entity is defined in Note 1 to the basic financial statementsfor the year ended June 30, 2008. All federal financial assistance received directly from federalagencies is included on the schedule as well as federal financial assistance passed through othergovernment agencies. The major programs are identified with an asterisk (*) on the schedule.

(2) Basis of Accounting

The accompanying Schedule of Expenditures of Federal Awards is presented using themodified accrual basis of accounting, which is described in Note 1 to the School Board's basicfinancial statements for the year ended June 30, 2008.

(3) Relationship to Fund Financial Statements

Federal financial assistance revenues are reported in the School Board's fund financialstatements as follows:

From federal sources:Special Revenue Funds $10,346,991

(4) Relationship to Federal Financial Reports

Amounts reported in the Schedule of Expenditures of Federal Awards agree with theamounts reported in the related federal financial reports.

55

u B3 .2

o1-(N*

— oo oo o-« — (N —

— 00 OO ON — fN — ON •* CN

m" oC V-T ON* o oo~ ON«nm — o — rnt-— ON r- — •

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Schedule of Findings, Questioned Costs andManagement's Corrective Action Plan


Parti: Summary of Auditor's Results:

1. An unqualified report was issued on the financial statements.

2. No significant deficiencies were disclosed by the audit of the financialstatements.

3. Material noncompliance was not disclosed.

4. No significant deficiencies in internal control over the major programs weredisclosed by the audit of the financial statements.

5. An unqualified opinion was issued on compliance for the major programs.

6. The audit disclosed no audit findings required to be reported under Section510(a) of Circular A-133.

7. The major programs were:U.S. Department of Education: Title I Grants to Local Educational AgenciesU.S. Department of Education: Improving Teacher Quality State Grants - Titlen

8. The dollar threshold used to distinguish between Type A and Type B programs,as described in Section 520(b) of Circular A-133 was $310,410.

9. The auditee qualified as a low-risk auditee under Section 530 of Circular A-133.

Part II: Findings which are required to be reported in accordance with generallyaccepted governmental auditing standards:

There are no findings at June 30, 2008.

Part ffl: Findings and questioned costs for Federal awards which include audit findings asdefined in Section 510(a) of Circular A-133:

There are no findings at June 30, 2008.

Part IV: Management Letter Items:

There are no management letter items at June 30,2008.

58


Summary Schedule of Prior Audit FindingsFor the Year Ended June 30, 2008

Section I: Findings which are required to be reported in accordance with generallyaccepted governmental auditing standards:

There were no findings at June 30, 2007.

Section It: Findings and questioned costs for Federal awards which include audit findings asdefined in Section SlOfal of Circular A-133:

' There were no findings at June 30, 2007.

Section ffl: Management Letter Items:

There were no management letter items at June 30, 2007.

59

SCHEDULES REQUIRED BY STATE LAW

(R.S. 24:514 - PERFORMANCE AND STATISTICAL DATA)

60

C. Burton Kofder, CPA*Russell F. Champagne, CPA*Victor R. Slaven, CPA*P. Troy Courvilte, CPA*Gerald A. Thibodesux, Jr.,CPA*Robert S. Carter, CPA*Arthur R. Mtxon, CPA"

Tynes E. Mixon, Jr., CPAAlien J. LaBry, CPAAJbert R. Leper, CPA.PFS.CSA*Penny Angelle Souggins, CPAChristine L Cousin, CPAMary T. Thtbodeaux, CPAMarshall W. Guidry. CPAAlan M. Taylor, CPAJames R. Roy, CPARobert J. Mete, CPAKelly MDoucet, CPACheryl L Bartley. CPA, CVAMandy B. Seff, CPAPaul L. Delcambre, Jr. CPAWanda F. Arcernent, CPAKristin B. Dauzat, CPARichard R, Anderson ST., CPACarolyn C. Anderson, CPA

KOLDER, CHAMPAGNE, SLAVEN & COMPANY,CERTIFIED PUBLIC ACCOUNTANTS


Phone (337) 332-4020Fax (337) 332-2867

LLC

OFFICES

Retired:Conrad 0. Chapman, CPA" 2006Harry J. Closbo. CPA 2007

AGREED-UPON PROCEDURES REPORTON SCHOOL BOARD PERFORMANCE MEASURES

183 South Beadle Rd.Lafayette, LA 70508Phone (337) 232-4141Fax (337) 232-8660

113 East Bridge StBreaux Bridge, LA 70517Phone (337) 332-4020Fax (337) 332-2867

1234 David Dr. Ste 203Morgan City, LA 70380Phone (985) 3&4-2020Fax (985) 384-3020

408 West Cotton StreetVilte Platte, LA 70586Phone (337) 363-2792Fax (337) 363-3049

332 West Sixth AvenueOberlin, LA70G55Phone (337) 639-4737Fax (337) 639-4568

450 East Main StreeNew Iberia, LA 7059

Phone (337} 367-920*Fax (337) 367-92K

200 South Main StreeAbbeville, LA 70511

Phone (337) 893-794Fax (337) 893-7941

1013 Main StreeFranklin, LA 7053I

Phone (337) 828-027:Fax (337) 82B-029I

133 East Waddtl SIMarksvilteLA7135-

Phone (318)253-925:Fax (318) 253-868

621 Main StreePinevilte, LA 71361

Phone (318) 442-442'Fax (318) 442-983:

WEBSFTE;WWW. KCSRCPAS. COM

* A Professional Accomting Cotpocutton



We have performed the procedures included in the Louisiana Governmental Audit Guide and enumeratedbelow, which were agreed to by the management of the St Martin Parish School Board and theLegislative Auditor, State of Louisiana, solely to assist users in evaluating management's assertionsabout the performance and statistical data accompanying the annual financial statements of the St. MartinParish School Board and to determine whether the specified schedules are free of obvious errors andomissions as provided by the Board of Elementary and Secondary Education (BESE) Bulletin. Thisagreed-upon procedures engagement was performed in accordance with standards established by theAmerican Institute of Certified Public Accountants. The sufficiency of these procedures is solely theresponsibility of the specified users of the report. Consequently, we make no representation regardingthe sufficiency of the procedures described below either for the purpose for which this report has beenrequested or for any other purpose.

Our procedures and findings relate to the accompanying schedules of supplemental information and areas follows:

General Fund Instructional and Support Expenditures and Certain Local Revenue Sources (Schedule 1)

1. We selected a random sample of 25 transactions and reviewed supporting documentation todetermine if the sampled expenditures/revenues are classified correctly and are reported in the properamounts for each of the following amounts reported on the schedule:

• Total General Fund Instructional Expenditures,

• Total General Fund Equipment Expenditures,

• Total Local Taxation Revenue,

• Total Local Earnings on Investment in Real Property,

Member of:AMERICAN INSTITUTE OFCERTIFIED PUBLC ACCOUNTANTS

61Member of


• Total State Revenue in Lieu of Taxes,

• Nonpublic Textbook Revenue, and

• Nonpublic Transportation Revenue.

There were no exceptions noted.

Education Levels of Public School Staff f Schedule 2)

2. We reconciled the total number of full-time classroom teachers per the schedule "Experience ofPublic Principals and Full-time Classroom Teachers" (Schedule 4) to the combined total number offull-time classroom teachers per this schedule and to school board supporting payroll records as ofOctober 1st.


3. We reconciled the combined total of principals and assistant principals per the schedule "Experienceof Public Principals and Full-time Classroom Teachers" (Schedule 4) to the combined total ofprincipals and assistant principals per this schedule.


4. We obtained a list of full-time teachers, principals, and assistant principals by classification as ofOctober 1st and as reported on the schedule. We traced a random sample of 25 teachers to theindividual's personnel file and determined if the individual's education level was properly classifiedon the schedule.


Number and Type of Public Schools (Schedule 3)

5. We obtained a list of schools by type as reported on the schedule. We compared the list to theschools and grade levels as reported on the Title 1 Grants to Local Educational Agencies (CFDA84.010) application and/or the National School Lunch Program (CFDA 10.555) application.


Experience of Public Principals, Assistant Principals, and Full-time Classroom Teachers (Schedule 4)

6. We obtained a list of full-time teachers, principals, and assistant principals by classification as ofOctober 1 and as reported on the schedule and traced the same sample used in procedure 4 to theindividual's personnel file and determined if the individual's experience was properly classified onthe schedule.


62

Public Staff Data: Average Salaries (Schedule 5)

7. We obtained a list of all classroom teachers including their base salary, extra compensation, andROTC or rehired retiree status as well as full-time equivalent as reported on the schedule and traceda random sample of 25 teachers to the individual's personnel file and determined if the individual'ssalary, extra compensation, and full-time equivalents were properly included on the schedule.


8. We recalculated the average salaries and full-time equivalents reported in the schedule.


Class Size Characteristics (Schedule 6)

9. We obtained a list of classes by school, school type, and class size as reported on the schedule andreconciled school type classifications to Schedule 3 data, as obtained in procedure 5. We then traceda random sample of 10 classes to the October 1st roll books for those classes and determined if theclass was properly classified on the schedule.


Louisiana Educational Assessment Program (LEAP) (Schedule 7)

10. We obtained test scores as provided by the testing authority and reconciled scores as reported by thetesting authority to scores reported in the schedule by St. Martin Parish School Board.


Graduation Exit Examination (GEE) (Schedule 8)



/LEAP Tests (Schedule 9^



63

We were not engaged to, and did not, perform an examination, the objective of which would be theexpression of an opinion on management's assertions. Accordingly, we do not express such an opinion.Had we performed additional procedures, other matters might have come to our attention that would havebeen reported to you.

This report is intended solely for the use of management of St. Martin Parish School Board, theLouisiana Department of Education, the Louisiana Legislature, and the Legislative Auditor, State ofLouisiana, and should not be used by those who have not agreed to the procedures and takenresponsibility for the sufficiency of the procedures for their purposes. Under Louisiana Revised Statue24:513, this report is distributed by the Legislative Auditor as a public document.

Kolder, Champagne, Sloven & Company, LLCCertified Public Accountants

Breaux Bridge, LouisianaNovember 14,2008

64

Schedule 1

ST. MARTIN PARISH SCHOOL BOARDSt. Martinvilie, Louisiana

General Fund Instructional and Support Expendituresand Certain Local Revenue Sources


General Fund Instructional and Equipment ExpendituresGeneral Fund Instructional Expenditures:Teacher and Student Interaction Activities:

Classroom Teacher Salaries $ 22,205,816Other Instructional Staff Activities 2,784,988Employee Benefits 8,073,691Purchased Professional and Technical Services 253,277Instructional Materials and Supplies 1,447,934Instructional Equipment 4,317

Total Teacher and Student Interaction Activities 34,770,023

Other Instructional Activities 268,203

Pupil Support Activities 2,132,812Less: Equipment for Pupil Support Activities -

Net Pupil Support Activities 2,132,812

Instructional Staff Services 2,680,421Less: Equipment for Instructional Staff Services -

Net Instructional Staff Services 2,680,421

School Administration 3,622,803Less: Equipment for School Administration (1,520)

Net School Administration 3,621,283

Total General Fund Instructional Expenditures $ 43,472,742

Total General Fund Equipment Expenditures $ 57,488

Certain Local Revenue SourcesLocal Taxation Revenue:

Constitutional Ad Valorem Taxes $ 460,071Renewable Ad Valorem Tax 1,758,648Debt Service Ad Valorem Tax 3,515,658Up to 1 % of Collections by the Sheriff on Taxes Other than School Taxes 183,351Sales and Use Taxes 12,101,536

Total Local Taxation Revenue $ 18,019,264

Local Earnings on Investment in Real Property:Earnings from 16th Section Property $ 637,267Earnings from Other Real Property ^_

Total Local Earnings on Investment in Real Property $ 637,267

State Revenue in Lieu of Taxes:Revenue Sharing - Constitutional Tax $ 68,814Revenue Sharing - Other Taxes 177,498Revenue Sharing - Excess Portion 37,431Other Revenue in Lieu of Taxes -

Total State Revenue in Lieu of Taxes S 283,743

Nonpublic Textbook Revenue S 35^033

Nonpublic Transportation Revenue S 99,038

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The Integrated Louisiana Educational Assessment Programs Tests


Schedule 9

/LEAP Tests

District Achievement LevelStudents

Grade 3AdvancedMasteryBasicApproaching BasicUnsatisfactory

Total

English Language Arts

2008Number

2085

31913753

614

Percent

3%14%52%22%

9%

2007Number

2112831210742

610

Percent

3%21%51%18%7%

2006Number

2711730413058

636

Percent

4%18%48%20%9%

Mathematics

2008Number

5810329810154

Percent

9%17%49%16%9%

614

2007Number

61157262

8248

Percent

10%26%43%13%8%

610

2006Number

4912330011648

Percent

8%19%47%18%8%

636



Total

Science

2008Number

2266

30016957

Percent

4%11%49%28%

9%614

2007Number

1494

27518739

Percent

2%15%45%31%

6%609

2006Number I Percent

30 5%64 10%

294 46%198 31%50 8%

636

Social Studies

2008Number

1789

30713368

Percent

3%14%50%22%11%

614

2007Number I Percent

5 1%127 21%297 49%118 19%61 10%

608

2006Number

3179

31515655

Percent

5%12%50%25%

9%636



Total

English Language Arts2008

Number

1555

24416893

575

Percent

3%10%42%29%16%

2007Number

1149

220179169628

Percent

2%8%

35%29%27%

2006Number

561

232180109587

Percent

1%10%40%31%19%

Mathematics2008

Number

2170

256126103

Percent

4%12%44%22%18%

576

2007Number

2245

241139181

Percent

4%7%

38%22%29%

628

2006Number

1653

249134135

Percent

3%9%

42%23%23%

587


Grade 5Advanced

MasteryBasicApproaching BasicUnsatisfactory

Total

Science2008

Number

1452

214184111

Percent

2%9%

37%32%19%

575

2007Number

540

202235146

Percent

1%6%

32%37%23%

628

2006Number

444

202227110

Percent

1%7%

34%39%19%

587

Social Studies2008

Number

661

258139111

Percent

1%11%45%24%19%

575

2007Number

639

243176164

Percent

1%6%

39%28%26%

628

2006Number

421

219180163

Percent

1%4%

37%31%28%

587

(Continued)

73

ST. MARTIN PARISH SCHOOL BOARDSt. MartinviHe, Louisiana

The Integrated Louisiana Educational Assessment Programs Tests (continued)For the Year Ended June 30, 2008

/ LEAP Tests



Total


Number

1148

27617996

610

Percent

2%8%

45%29%J6%

2007Number

848

28217783

598

Percent

1%8%

47%30%14%

2006Number

1288

26914555

569

Percent

2%15%47%25%10%

Mathematics

2008Number

2146

287129127

Percent

3%8%

47%21%21%

610

2007Number

1753

28114]106

Percent

3%9%

47%24%18%

598

2006Number

1272

30011669

Percent

2%13%53%20%12%

569



Total

Science2008

Number I Percent

6 1%44 7%

241 40%226 37%

93 15%

610

2007Number

444

252208

90

Percent

1%7%

42%35%15%

598

2006Number

753

25418174

Percent

1%9%

45%32%13%

569

Social Studies2008

Number

331

239182155

Percent

0%5%

39%30%25%

610

2007Number

818

257196119

Percent

1%3%

43%33%20%

598

2006Number

1229

269157102

Percent

2%5%

47%28%18%

569



Total


Number

955

242199102607

Percent

1%9%

40%33%17%

2007 __,Number

1351

25119098

603

Percent

2%8%

42%32%16%

2006Number

1761

25518989

611

Percent

3%10%42%31%15%

Mathematics2008

Number

622

227163187

Percent

1%4%

38%27%31%

605

2007Number

542

262165129

Percent

1%7%

43%27%21%

603

2006Number

636

255174140

Percent

1%6%

42%28%23%

611



Total

Science2008

Number

329

203235136

Percent

0%5%

33%39%22%

606

2007Number

243

209200148

Percent

0%7%

35%33%25%

602

2006Number

241

198214154

Percent

0%7%

33%35%25%

609

Social Studies2008

Number

122

217176190

Percent

0%4%

36%29%31%

606

2007Number

236

228184153

Percent

0%6%

38%31%25%

603

2006Number

220

274165148

Percent

0%3%

45%27%24%

609

(Continued)

74


The Integrated Louisiana Educational Assessment Programs Tests (continued)For the Year Ended June 30, 2008

/LEAP Tests



Total


Number

130

27719349

550

Percent

0%5%

50%35%9%

2007Number

450

289226

71

640

Percent

1%8%

45%35%11%

2006Number

239

267222

84

614

Percent

0%6%

43%36%14%

Mathematics2008

Number

926

28313498

Percent

2%5%

51%24%18%

550

2007Number

1459

285149133

Percent

2%9%

45%23%21%

640

2006Number

1335

266146156

Percent

2%6%

43%24%25%

616

75

received legislative auditor 2008 dec 16 ah 10-52 · 2020-06-24 · 901,454 65,068,123 4,782,275...

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