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VILLAGE OF HEFLIN, LOUISIANA
FINANCIAL REPORT
DECEMBER 31,2010
Underprovisions of state law, tliis report is a public document.Acopyofthe report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office ofthe Legislative Auditor and, where appropriate, at the office of the parish clerk of court.
Release Date
VILLAGE OF HEFLIN, LOUISIANA
TABLE OF CONTENTS
Statement Page
Independent Accountants' Compilation Report
Basic Financial Statements:
Government-Wide Financial Statements
Statement ofNet Assets A
Statement ofActivities B
Fund Financial Statements:
Govemmental Funds:
Balance Sheet C
Reconciliation ofthe Govemmental Funds Balance Sheet to The Govemment-Wide Financial Statement ofNet Assets D
Statement of Revenues, Expenditures and Changes in Fund Balance E
Reconciliation ofthe Statement of Revenues, Expenditures, And Changes in Fund Balances of Governmental Funds totheStatement of Activities , ' , F
Proprietary Funds:
Statement ofNet Assets G
VILLAGE OF HEFLIN, LOUISIANA
TABLE OF CONTENTS
Statement Page
Statement of Revenues, Expenses and Changes in Net Assets H 9
Statement of Cash Flows I 10
Notes to the Financial Statements 11
Required Supplemental Infonnation (Part II) Schedules Page
Budget Comparison Schedule 1 19
Other Supplemental Schedules:
Schedule ofGompensation Paid Board Members 2 20
Summary Schedule of prior Year Findings 3 21
Corrective Action Plan for Current Year Findings ' 4 22
MICHAELW. WISE, C.P.A. CARLOS E. MAFrriN, CPA KRISTINE H. COLE CPA
JAMIESON, WISE & MARTIN APROFESSIONALACCOUNTING CORPORATION
601 MAIN STREET P.O. BOX 897 MINDEN, LOUISIANA 71058-0897
(318)377-3171 FAX (318) 377-3177 •
JENNIFER C SMITH, CPA. KRISTIE K. MARTIN, CRA.
WM. PEARCE JAMIESON, C.PA(1991)
MEMBERS AMERICAN INSrrrUTE OF
CERTIFIED PUBLIC ACCOUNTANTS SOCIETY OF LOUISIANA
CERTIFIED PUBl̂ lC ACCOUNTANTS
INDEPENDENT ACCOUNTANT'S COMPEATION REPORT
To the Honorable Betty Blake, Mayor . and the Members ofthe Board of AJdermen Village of Heflin, Louisiana
We have compiled the accompanying financial statements of the govemment activities, the business^ type activities, and the major fimd of the Village of Heflin, Louisiana as of and for fhe year ended December 31, 2010, which collectively comprise the Village's basic financial statements as hsted in the table of contents. We have not audited or reviewed the accompanying financial statements and, accordingly,. (Jo not express an. opinion or provide any assurance about whether the financial statements are in accordance with accoimting principles generally accepted in the United States of America.
The.management of the Village of Heflin, Louisiana, is responsible for the preparation and fair presentation ofthe financial statements in accordance.with accounting principles generally accepted in the United States of America and for designing, implementing, and maintaining intemal control relevant to the preparation and fair presentation ofthe fmancial statements.
Our responsibility is to conduct the compilation in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The objective of a compilation is to assist the management of the Village of Heflin, Louisiana, in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the fmancial statements.
The budgetary comparison information on page 19 is not a required part of the basic fmancial stetements but is supplementary information required by the Govemmental Accounting Standards Board. We have compiled the supplementary information from information that is the representation of management, without audit or review. Accordingly, we do not express an opinion or provide any assurance on the supplementary infonnation.
The Village of Heflin, Louisiana has not presented the management's discussion and analysis information that the. Govemmental Accounting Standards Board has determined is required to supplement, although not required to be a part of, the basic fmancial statements.
AQj f rM. > • w
Minden, Louisiana June 29,2011
- ^ * 0 ^ 7 ^
BASIC FINANCIAL STATEMENTS
VILLAGE OF HEFLIN, LOUISIANA Statement ofNet Assets December 31,2010
STATEMENT A
PRIMARY GOVERNMENT GOVERNMENTAL BUSINESS-TYPE
ACTIVITIES ACnVITIES TOTAL
ASSETS Cash and cash equivalents Investments Receivables (net of allowances for
uncollectibles) Restricted assets Capital assets (net)
46,005 $
432,177
29,007 $
24,675
3,984
5,847 646,774
75,012
24,675
3,984
5,847 1,078,951
TOTAL ASSETS 478,182 $ 710,287 $ 1,188,469
UABILrriES Accounts, salaries, and other payables Other liabilities
1,852 $ 14 $ 5,847
1,866 5J47
TOTAL LIABILITIES 1,852 5,861 7,713
NETASSETS Invested in capital assets, net of related debt Unrestricted
432,177 44,153
646,774 57,652
1,078,951 101,805
TOTAL NET ASSETS 476,330 $ 704,426 $ 1,180,756
See accountants' report and accompanying notes
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STATEMENT C
VILLAGE OF HEFLIN, LOUISIANA Balance Sheet, Govemmental Funds December 31,2010
GENERAL FUND
ASSETS Cash and cash equivalents $ 46,005 Other assets ~
TOTAL ASSETS $ 46,005
LIABIUTIES AND FUND BALANCES Liabilities:
Total Liabilities 1,852
Fund balances: Unrestricted 44,153
TOTAL LIABILITIES AND FUND BALANCES $ 46,005
See accountants' report and accompanying notes
STATEMENT D
VILLAGE OF HEFLIN, LOUISIANA Reconciliation of The Govemmental Funds Balance Sheet to The Govemment-Wide Financial Statement of Net Assets
December 31,2010
Amounts reported for govemmental activities in the Statement ofNet Assets are different because:
Fund Balances, Total Govemmental Funds (Statement C) $ 44,153
Capital assets used in govenunental activities are not funancial ' resources and, therefore, are not reported in the govemmental fimds. 432,177
Net Assets of Govermnental Activities (Statement A) $ 476,330
See accountants* report and accompanying notes
STATEMENT E
VILLAGE OF HEFLIN, LOUISIANA Statement of Revenues, Expenditures and and Changes in Fund Balances
Govemntental Funds For the Year Ended December 31,2010 TOTAL
GENERAL FUND
REVENUES Occupational licenses S 20,135 Utility and franchise taxes 6,198
Intergovernmental revenues; State & parish fiinds 22,982
Fines and forfeitures 19,397 Investment earnings 2 Other revenues 4,858
Total Revenues 73,572
EXPENDITURES General govemment
Utihties • 10,975 Secretarial & bookkeeping 1,630 Office supplies 516 Insurance 7,175 Repairs and maintenance 3,800 Legal advertising Accounting 1,200 Dues and subscriptions 125 Miscellaneous 260
Public safety Police salary 12,900 Court Costs 1,406 Pohce expense 6,509
Capita! Outlay 2,923 Total Expenditures 49,419
Excess (Deficiency) of Revenues Over (Under) Expenditures . 24,153
Other financing sources, including transfers -
Net change in fund balances 24,153
Fund balances ~ beginning 20,000
Fund balances — ending $ 44,153
See accountants' report and accompanying notes
STATEMENT F
VILLAGE OF HEFLIN, LOUISIANA Reconciliation of The Statement of Revenues, Expenditures,
and Changes in Fund Balances of Governmental Funds To the Statement ofActivities
For the Year Ended December 31,2010
Amounts reported for govemmental activities in the Statement of Activities are different because:
Net Change in Fund Balances, Total Govemmental Funds, (Statement E) $ 24,153
Govemmental fimds report capital outlays as expendhures. However, in the statement of activities the cost of tiiose assets is allocated over then- estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period. (31,269)
Some revenues reported in the statement of activities are not available as current fmancial resources and, therefore, are not reported as revenues in governmental fimd.
Some e3q>enses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in govemmental funds. -
Change in Net Assets of Govemmental Activities, (Statement B) $ (7,116)
See accountants' report and accompanying notes
STATEMENT G
VILLAGE OF HEFLIN, LOUISIANA Statement of Net Assets, Proprietary Funds December 31,2010
BUSINESS-TYPE ACTIVfTY
WATER FUND
ASSETS Current Assets: Cash and cash equivalents $ 29,007 Investments 24,675 Receivables (net of allowances for
uncollectibles) 3,984 Restricted assets 5,847
Total Current Assets 63,513
Non-Current Assets: Capital assets (net of accumulated depreciation) 646,774
Total Non-Current Assets 646,774
TOTAL ASSETS $ 710,287
LIABHXriES
Current Liabilities: Accounts, salaries, and other payables Other habilities
Total Current Liabilities
Total Liabilities
NETASSETS Invested in capital assets, net of related debt Unrestricted
TOTAL NET ASSETS
$ 14
5,847
5,861
5,861
646.774 - 57.652
$ 704,426
See accountants' report and accompanying notes
STATEMENT H
VILLAGE OF HEFLIN, LOUISIANA Statement of Revenues, Expenses and Changes in Net Asisets Proprietary Funds
For the Year Ended December 31,2010
Operating Revenues Charges for services: Water sales
Total Operating Revenues
BUSINESS-TYPE ACTIVITY
WATER FUND
39,451 39,451
Operating Expenses Salaries Contract labor Electricity Line supphes and repairs Insurance Office supplies Accounting Depreciation Equipment repairs & maintenance Taxes Testing Other
Total Operating Expenses
Operating Income (loss)
11,700 640
5,420 448
3,174 1,068 1,500
23,342 20,125
855 504
1,158 69,934
(30,483)
Nonoperating Revenues (Expenses) Grant Revenue Interest income
Total Nonoperating Revenues (Expenses)
6,008 > 3 1
6,039
Income (loss) Before Contributions and Transfers
Transfer out
(24,444)
Change in Net Assets
Total Net Assets-Beginning Total Net Assets-Ending
(24.444)
728,870 704,426
See accountants' report and accompanying notes
STATEMENT I
VILLAGE OF HEFLIN, LOUISLANA Statement of Cash Flows, Proprietary Funds For the Year Ended December 31,2010
Cash Flows From Operating Activities Receipts from customers and users Salaries
Payments to supphers
Net Cash Provided by Operating Activities
BUSINESS-TYPE ACTTVrrY
WATER FUND
$ 39,451 $ (11,700)
(35,423)
(7,672)
Cash Flows From Financing Activities Net increase in meter deposits Grants
Investment in fixed assets Net Cash Provided (used) by Noncapital
Financing Activities
116 6.008
6,124
Cash Flows From Investing Activities Interest Receivable
Purchase of investments
Interest and dividends received
Net Cash Provided by Investing Activities
30 (58) 31
Net Increase in Cash and Cash Equivalents
Cash and Cash Equivalents, Begiiming of Year
(1,545)
36,936
Cash and Cash Equivalents, End of Year 35,391
Reconciliation of Operating Income to Net Cash Provided (used) by Operating Activities
Operating income (loss) (30,483)
Depreciation expense
(Increase) decrease in accounts receivable Increase (decrease) in accounts payable
Total Adjustments
23,342 (1,072)
541
22,811
Net Cash Provided by Operating Activities
See accountants' report and accompanying notes
(7,672)
10
VILLAGE OF HEFLIN, LOUISIANA NOTES t o FINANCIAL STATEMENTS
December 31,2010
INTRODUCTION
The Village of Heflin, Louisiana (the Village) was incorporated under the provisions of the Lawrason Act. The Village is located in the Parish of Webster, being in the northwest comer of the State. The Village operates tmder a Mayor-Board of Aldermen form of govemmeiit •
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION The accompanying financial statements of the Village have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applied to governmental units. The Govemmental Accoimting Standards Board (GASB) is the accepted standard setting body for establishing govermnental accoimting and financial reporting principles.
A Govemment-Wide and Fund Financial Statements
The govemment-wide linancial statements (i.e., the statement ofnet assets and the statement of changes in net assets) report information on all of the nonfiduciary activities of the primary govemment and its component units. For the most part, the effect of interfund activity has been removed firom these statements. Govemmental activities, which noraiaUy are supported by taxes and intergovemmental revenues, are reported separately fi'om business-type activities, which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates tiie degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific fimction or segment Program revenues include 1) charges to customers or applicants who purchase, use or directly benefit fix)m goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particidar fimction or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and fidticiary funds, even though the latter are excluded fi'om the govemment-wide financial statements. Major individual govemmental fimds and major enteiprise funds are reported as separate columns in the fund fmancial statements.
11
VILLAGE OF HEFLIN, LOUISL\NA NOTES TO FINANCIAL STATEMENTS
December 31,2010
a Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The govemment-wide financial statements are reported usmg the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fimds financial statements. Revenues are recorded when eamed and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fimd financial statements are reported usnag the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, fhe govenmient considers revenues to be available if they are collected within 60 days ofthe end ofthe current fiscal period. Although most expenditures are recorded when a Uability is incurred, as under accrual accounting, the measurement focus of a governmental fund significantly affects what items are to be considered expenditures in the governmental fund. Expenditures, and the related liabilities, are accmed w^en they are expected to be paid out of revenues recognized during the current period. However, debt service expenditures, as well as expen<Utures related to compensated absences and claims and judgments, are recorded only when payment is due.
Franchise taxes, licenses, and interest associated with the current fiscal period are all considered susceptible to accrual and so have been recognized as revenues of the current fiscal period. All otiier revenue items are considered to be measurable and available only when cash is received by the government.
The municipality reports the following major govemmental fimds:
The General Fund is the municipality's primary operating fund. It accounts for all financial resources, ofthe general government, except those reqmred to be accounted for in another fund.
The municipality reports one major proprietary fimd. The enterprise fimd is used to account for operations (a) where the intent of the goveming body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges, or (b) where the goveming body has decided tiiat periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes.
12
VILLAGE OF HEFLIN, LOUISIANA NOTES TO FINANCLM: STATEMENTS
December 31,2010
Private-sector standards of accounting and financial reporting issued prior to December 1,1989, generally are followed in both the govemment-wide and proprietary fimd financial statements to the extent that those standards do not conflict with or contradict guidance ofthe Govemmental Accounting Standards Board. Govemments also have the option of following subsequent private-sector guidance for their business-type activities and enterprise funds, subject to the same limitation. The govermnent has elected not to follow subsequent private-sector guidance.
As a general rule the effect of interfund activity has been eliminated fix)m the govemment-wide financial statements. Exceptions to this general rule are payments-in-lieu of taxes and other charges between the government's enterprise operations. Eliminations of these charges would distort direct costs and program revenues reported for the various functions concemed.
Amoimts reported as program revenues include 1) charges to customers or applicants for goods, services, or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Intemally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.
Proprietary fimds distinguish operating revenues and expenses fi*om nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fimd's principal ongoing operations. The principal operatii^ revenues of the proprietary fimds are from charges for electrical, water and sewerage services. Operating expenses for enterprise ftmds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this defmition are reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the municipality's policy to use restricted resources first, then umestricted resources as they are needed.
C. Deposits and Investments
Cash includes amounts in demand deposits, interest-bearing demand deposits, and money market accounts. Cash equivalents include amounts in time deposits, those investments with original maturities of 90 days or less. Under state law, the Village may deposit fimds in demand deposits, money market accounts, or time deposits with state banks organized under Louisiana law and national banks having their principal offices in Louisiana.
For purposes of the statements of cash flows, cash and cash equivalents mclude cash, demand deposits, and certificates of deposit Cash and cash equivalents are stated at cost
13
Vfl̂ LAGE OF HEFLIN, LOUISIANA NOTES TO FINANCIAL STATEMENTS
December 31,2010
Under state law, the VUlage may invest m United States bonds, treasury notes, and certificates. In addition, the ViUage may invest in bonds, debentures, notes or other evidence of indebtedness issued or guaranteed by federal agencies and provided such obligations are backed by the full faith and credit of the U.S and also collateralized mortgage obligations, which have not been stripped mto interest only and principal only obligations. These are classified as investments if tiiefr original maturities exceed 90 days; however, if the original maturities are 90 days or less, they are classified as cash equivalents. Investments are reported at fair value, w^ch is determined using selected bases. Short-term investments are reported at cost, which approximates fair value. Long-term mvestments, those with original maturities greater than one (1) year, are valued at the last reported sales price at current exchai^e rates.
D. Receivables and Payables
In the government-wide statements, receivables consist of all revenues eamed at year-end and not yet received. Allowances for uncollectible receivables are based upon historical trends and the periodic aging of accounts receivable. Major receivable balances for the govemmental activities include sales and use taxes, ad valorem taxes, fi-anchise taxes, police fines, and grants. Business-type activities report utilities as then- major receivable.
In the fund finaiicial statements, material receivables in govemmental funds include revenue accruals such as franchise tax, grants and other intergovenmiental revenues since they are usually both measurable and available. Nonexchange transactions collectible birt not available are deferred in tiie fimd financial statements in accordance with modified accrual, but not deferred in the govemment-wide financial statements in accordance with the accrual basis. Interest and investment eamings are recorded when eamed and only if paid withm 60 days since they would be considered both measurable and available.
E, Restricted Assets
Restricted assets include cash and investments ofthe proprietaiy fimd that are legally restricted as to their use. The primary restricted assets are related to utiUty meter deposits.
F. Capital Assets
Capital assets, which include property, plant, equipment, and infiiastructure assets (e.g. roads, bridges, sidewalks, and similar items), are reported in the applicable govermnental or business-type activities colimins in the government-wide financial statements. Coital assets are c^italized at historical cost or estimated cost if historical cost is not available. Donated assets
14
VILLAGE OF HEFLIN, LOUISIANA NOTES TO FINANCIAL STATEMENTS
December 31,2010
are recorded as capital assets at their estimated fair market value at the date of donation. The village mamtains a threshold level of $2,500 or more for capitalizing capital assets.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized.
Major outlays for capital assets and unprovements are capitalized as projects are constructed. All coital assets, other than land, are depreciated using the straight-Hne method over the following useftil lives:
Description Roads, bridges, and infrastructure Land improvements Buildings and building improvements Fumiture and fixtures Vehicles Equipment
Estimated Lives
25-50 years 10-30 years 10-40 years 5-15 years 5-10 years 5-15 years
G. Estimates
The preparation of financial statements in conformity with accoimting principles generally accepted in the United States of America require management to make estimates and assumptions that affect the reported amounts of assets and liabiUties and disclosure of contingent assets and liabiUties at the date ofthe financial statements and the reported amounts of revenues, expenditures, and expenses during the reporting period. Actual results could differ from those estimates.
2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
BUDGET INFORMATION: The ViUage foUows tiiese procedures in estabUshing the budgetaiy data reflected in these financial statements:
a) The Village Clerk prepares a proposed budget and submits same to the Mayor and the Council no later than fifteen days prior to the beginning of each fiscal year.
b) The public is notified that the proposed budget is avaUable for pubhc inspection. At that time, a public hearing is called.
c) A public hearing is held on the proposed budget at least ten days after pubUcation of the caU for the hearing.
15
VILLAGE OF HEFLIN, LOUISIANA NOTES TO FINANCL\L STATEMENTS
December 31,2010
d) After the holding of the public hearing and completion of all action necessary to finalize and implement the budget, the budget is adopted through passage of an ordinance prior to the commencement ofthe fiscal year for which the budget is being adopted.
e) Budgetary amendments involving the transfer offimds fix)m one department, program or fimction to another or involvmg increases or decreases in expenditures resulting fix)m revenues exceeding or failmg to meet amounts estimated require tbe approval of the Council.
f) All budgetary appropriations l^se at the end of each fiscal year. g) Budgets for the General and Special Revenue Funds are adopted on a basis consistent
with generally accepted accounting principles (GAAP). Budgeted amounts, as originally adopted, are amended from time to time by the CoimcU.
3. CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist of amounts in demand deposit accounts, savings accounts, and certificates of deposit maturing in 90 days or less. Deposits ofthe Village in the amount of $75,012 are fiilly secured as of December 31,2010 with federal deposit msurance.
4. INVESTMENTS
Louisiana Revised Statutes and the Village's investment policy govem the procedures to be followed and the types of aUowable securities to be purchased by the ViUage. On December 31, 2010, the water fimd held investments totality $24,675 in certificates of deposit whose maturities were greater than 90 days. The investments are m the name ofthe ViUage of Heflin and are held in the trust department of the custodial bank selected by the VUlage. The certificates are considered to be insured and are classified as Category 1 ia ^plyir^ the credit risk of GASB Codification Section 150.164.
16
VILLAGE OF HEFLIN, LOUISIANA NOTES TO FINANCIAL STATEMENTS
December 31, 2010
5. CAPITAL ASSETS
Capital assets and depreciation activity as ofand for the year ended December 31, 2010, for the primary govemment is as follows:
Balance Balance
Januarv 1,2010 Addirions Deletions December 31.2010
Govemmental activities:
Capital assets, not being depreciated '
Land S 6,150 - - 6.150
Construction in progress
Total capital assets, not being depreciated
Capital assets being depreciated
Buildings
Land improvements odier than buildings
Equipment
Total capital assets being depreciated
Less accumulated depreciation for:
Buildings
Land improvements other than buildings
Equipment
Total accumulated depreciation
Total capital assets, being depreciated, net
Govemmental activities capital assets, net
Business-type activities:
Capital assets being depreciated
Land Improvements other than buildings $ 986,669 - 986,669
Equipment 4.924 ; ^ 4.924
Totai capital assets being depreciated 991.593 -_ z 991.593
Less accumulated depreciation for:
Land improvements other than buildings 317,815 22,914 - 340,799
Equipment 3.662 358 :: 4.020
Total accumulated depreciation 321.477 23.342 ^ 344.819
Total capital assets, being depreciated, net 670.116 f23,342> :: 646.774
Business-type capital assets, net ^ 670,116 (23^342) _- 646,774
17
6.150
287,179
13,226
422,316
722,721
47,259
4,356
213.810
265.425
457.296
S 463.446
.
_
,
6,383
661
24.225
31.269
f 31,269)
f3J.2691
6,150
287,179
13,226
422.316
722.721
53,642
5,017
238.035
296.694
426.027
432,177
VILLAGE OF HEFLDSI, LOUISIANA NOTES TO FINANCLU STATEMENTS
December 31,2010
Depreciation expense was charged as direct expense ofthe primary goveroment as foUows:
Governmental activities: General govemment $ 6,383 PubUc safety 24,225 Recreation 661
Total Slum
Business-type activities: Water $23.342
Total
6. ON-BEHALF PAYMENTS
During the fiscal year ended December 31,2010, the village's police chief received $575 per month for January - December 2010 m police supplemental pay fix)m the State of Louisiana, Department of PubUc Safety and Corrections, totaUng $6,900. The vUlage recognizes tiiis supplemental pay received by the employees as revenues and expenditures of tiie village. The revenues are reported in the general fund and the expenditures are included in the public safety expenditures.
18
REQUIRED SUPPLEMENTAL INFORMATION
SCHEDULE 1
VILLAGE OF HEFLIN, LOUISIANA Statement of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual
General Fund For the Year Ended December 31,2010
Variance with
Revenues Occupational hcenses Utility and franchise taxes bitergovemmental -Grants
Miscellaneous-Civic center rentals Police fines Interest income
Other
Total Revenues
Expenditures General govennnent
Utihties Secretarial and bookkeeping Legal and accounting Insurance Supphes Dues and subscriptions Repairs and maintenance Miscellaneous
Public safety - poUce Police salajy
PoUce Expense Repairs & maintenance Court costs
Capital expenditures
Total Expenditures
Excess of Revenues Over Expenditures
Other financing sources, including transfers
Budgeted Amounts Original Final
$ 12,000 6,500
14,032
2,500 19,000
6,000
60,032
10,000 1,500 1,300 5,500
625 125
4,800 19,882
12,900
1,400 2,000
60,032
12,000 6,500
14,032
2,500 19,000
6,000
60,032
10,000 1,500 1,300 5,500
625 125
4,800 19,882
12,900
1,400 2,000
60,032
Actual Amounts GAAP Basis
20,135 6,198
22,982
3,575 19,397
2 1,283
73,572
10,975 1,630 1,200 7,175
516 125
3,800 260
12,900
6,509 1,406 2,923
49,419
Final Budget Over (Under)
8,135 (302)
8,950
1,075 397
2
(4,717)
13,540
(975) (130) 100
(1,675) 109
-1,000
19,622
-
(6,509) (6)
(923)
10,613
24,153 24,153
Fund Balance (Deficit) at Beginning of Year 20,000 20,000 20,000
Fund Balance (Deficit) at End of Year $ 20,000 20,000 44.153 24,153
See accountaats' report.
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OTHER SUPPLEMENTAL SCHEDULES
SCHEDULE 2
VILLAGE OF HEFLIN, LOUISIANA
SCHEDULE OF COMPENSATION PAID BOARD MEMBERS Year Ended December 31, 2010
Board members, along with the mayor received the following for their advisory roles and other services rendered as elected leaders.
Betty Blake Catherine Lee Todd Leake Robert Stachowicz
Mayor Alderman Alderman Aldetiuan
$0.00 $0.00 $0.00 $0.00
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SCHEDULE 3
VILLAGE OF HEFLDsl, LOUISLMSIA
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS Year Ended December 31, 2010
Finding 2009-1 Budget
The actual expenditures ofthe Village of Heflin, Louisiana's General Fund exceeded the budgeted expenditures by 11%.
Similar issue with budget law in 2010
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SCHEDULE4
VILLAGE OF HEFLIN, LOUISLANA
CORRECTTVE ACTION PLAN FOR CURRENT YEAR FINDE^GS Year Ended December 31,2010
Findmg 2010-1 The actual expenditures ofthe Village of Heflin, Louisiana's General Fund were less than tiie budgeted expenditures by 18%.
Mayor's Response In fiiture periods, the budgeted expenditures will be reviewed and amended to remain within a 5% variance of actual expenditures.
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