FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

FINANCIAL REPORT

DECEMBER 31, 2012

C O N T E N T S

Page ACCOUNTANTS' COMPILATION REPORT ON

THE FINANCIAL STATEMENTS I and 2

FINANCIAL STATEMENTS

Statement of net position 3

Statement of activities 4 Balance sheet - governmental fund 5 Reconciliation ofthe governmental fund

balance sheet to the statement of net position 6 Statement of revenues, expenditures, and

changes in fund balance - governmental fund 7 Reconciliation ofthe statement of revenues,

expenditures, and changes in fund balance ofthe governmental fund to the statement of activities 8

Budgetary comparison schedule -General fund 9

Schedule of findings and responses 10 Schedule of prior findings 11

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Other Offices: Crowley, LA (337) 783-5693 Opelousas, LA (337) 942-5217

New Iberia, LA (337) 364-4554

BROUSSARD, POCHE, LEWIS & BREAUX, L.L.F. C E R T I F I E D P U B L I C A C C O U N T A N T S

4112 West Congress P.O. Box 61400 Lafayetie, Louisiana 70596-1400 phone: (337) 988-4930 fax: (337) 984-4574 www. bplb. com

P a r t n e r s : Frank A. Stagno, CPA* Scott J. Broussard, CPA* L. Charles Abshire, CPA* P. John Blanchct, HI, CPA* Manha B. Wyatt, CPA* Mary A. CastiUe, CPA* Joey L. Breaux, CPA* Craig J. Viator, CPA* John L. Istre, CPA* Elizabeth J. Moreau, CPA* LonnieJ. Hebert, CPA* Robert M. DeRouen, Jr. CPA*

D i r e c t o r s : Jason P. LeBlanc, CPA Laurel L. Montagnet, CPA Valeri A. Grayson, CPA

Ret i r ed P a r t n e r s :

Sidney L. Broussard, CPA 1925-2005 Leon K. Pochfi, CPA 1984 James H. Breaux, CPA 1987 Erma R. Walton, CPA 1988 George A. Lewis, CPA 1992 Geraldine J. Wimbcriey, CPA 1995 Lawrence A. Cramer, CPA 1999 Ralph Friend, CPA 2002 Donald W. Kelley, CPA 2005 George J. Trappey, III, CPA 2007 Terrel P. Dressel, CPA 2007 Herbert Lemoine II, CPA 2008 Mary T. Miller, CPA 2011

ACCOUNTANTS' COMPILATION REPORT

The Board of Commissioners Fire Protection District No. 7

of Acadia Parish Mire, Louisiana

We have compiled the accompanying basic financial statements of Fire Protection District No. 7 of Acadia Parish, a component unit ofthe Acadia Parish Police Jury, as of and for the year ended December 31, 2012, as listed in the table of contents. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or provide any assurance about whether the financial statements are in accordance with accounting principles generally accepted in the United States of America.

The management of the Fire Protection District No. 7 of Acadia Parish is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for designing, implementing, and maintaining internal control relevant to the preparation and fair presentation ofthe financial 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 ofthe Fire Protection District No. 7 of Acadia Parish, 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 financial statements.

Management has elected to omit substantially all of the disclosures required by accounting principles generally accepted in the United States of America. If the omitted disclosures were included in the financial statements, they might infiuence the user's conclusions about the Entity's fmancial position and change in financial position. Accordingly, these financial statements are not designed for those who are not informed about such matters.

Members of American Institoie of Certified Public Accotmrnnls Sociery of iMimiana Ccrtift&d Public Accoiiainnis

* A t'lulc iHnia) Accuuiiiinjj Curpuialiun

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Management has not presented the Management's Discussion and Analysis that accounting principles generally accepted in the United States of America has determined is required to supplement, although not required to be part of, the basic financial statements.

We are not independent with respect to Fire Protection District No. 7 of Acadia Parish.

' > ^ ^

Lafayette, Louisiana April 22, 2013

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

STATEMENT OF NET POSITION December 31,2012

See Accountants' Compilation Report

ASSETS General

Fund

Cash Taxes receivable Capital assets:

Depreciable, net

35,991 79,875

62,346

Total assets 178,212

NET POSITION

Net investment in capital assets Unrestricted

62,346 115,866

Total net position 178,212

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

STATEMENT OF ACTIVITIES For the Year Ended December 31, 2012 See Accountants' Compilation Report

Expenses: Governmental activities -

Public safety Interest on long-term debt

Total governmental activities

Operating grants and contributions

Net expenses

General revenues: Ad valorem taxes Interest income Miscellaneous Gain on early extinguishment of debt

Total general revenues

Change in net assets

Net position, beginning

Net position, ending

General Fund

105,752 1,281

107,033

47,139

(59,894)

79,816 103 250

1,246

81,415

21,521

156,691

178,212

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

BALANCE SHEET GOVERNMENTAL FUND

December 31,2012 See Accountants' Compilation Report

General Fund

Cash $ 35,991 Taxes receivable 79,875

Total assets $ 115,866

Fund balance: Unassigned $ 115,866

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

RECONCILIATION OF THE GOVERNMENTAL FUND BALANCE SHEET TO THE STATEMENT OF NET POSITION

December 31,2012 See Accountants' Compilation Report

Total fund balance - governmental fimd $ 115,866

Total net position reported for governmental activities in the statement of net position is different because:

Capital assets used in governmental activities are not financial resources and are not reported in the fund. Capital assets, net 62,346

Net position of governmental activities $ 178,212

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE

GOVERNMENTAL FUND For the Year Ended December 31, 2012 See Accountants' Compilation Report

General Fund

Revenues: Taxes -

Ad valorem $ 79,816 Intergovernmental -

Grants 47,139 Interest income 103 Miscellaneous revenue 250

Total revenues S 127,308

Expenditures: Current -

Public safety: Supplies and maintenance Insurance Fuel Radio rental Accounting Miscellaneous

Capital outlay Debt service -

Principal Interest

Total expenditures

Excess of expenditures over revenues

Fund balance, beginning

Fund balance, ending

s

s

$

$

49,980 14,431 4,383 2,916 1,495 2,360

15,184

30,519 1,281

122,549

4,759

111,107

115,866

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE OF THE GOVERNMENTAL FUND

TO THE STATEMENT OF ACTIVITIES For the Year Ended December 31,2012 See Accountants' Compilation Report

Net change in fiind balance - governmental fund % 4,759

The change in net position reported for governmental activities in the statement of activities is different because:

Governmental funds report capital outlays as expenditures; however, in the statement of activities the cost of those assets is allocated over their estimated usefiil lives and reported as depreciation expense.

Capital outlay $ 15,184 Depreciation expense (30.187) (15,003)

Repayment of principal is an expenditure in governmental funds but reduces the liability in the statement of net position and does not affect the statement of activities.

Principal payments 30,519

Gains (losses) on early extinguishment of debt in the statement of activities do not provide current financial resources and are not reported as gains (losses) in the Governmental fijnds

Gain on early extinguishment of debt 1,246

Change in net position of governmental activities $ 21,521

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

BUDGETARY COMPARISON SCHEDULE GENERAL FUND

For the Year Ended December 31, 2012 See Accountants' Compilation Report

Revenues: Taxes-

Ad valorem Intergovernmental -Grant

Interest income Miscellaneous

Total revenues

Expenditures: Current -

Public safety: Supplies and maintenance Insurance Fuel Radio rental Accounting Miscellaneous

Capital outlay Debt service -

Principal Interest

Total expenditures

Excess of revenues over expenditures

Fund balance, beginning

Fund balance, ending

$

1.

$

$_

$

$

Original Budget

78,525

---

78,525

30,000 35,000

-----

13,342 -

78,342

183

111,107

111,290

$

i_

$

$_

$

$

Final Budget

78,525

---

78,525

30,000 35,000

-----

13,342 -

78,342

183

111,107

111,290

$

$

$

S

$

$

Actual

79,816

47,139 103 250

127,308

49,980 14,431 4,383 2,916 1,495 2,360

15,184

30,519 1,281

122,549

4,759

111,107

115,866

Variance with

$

L

$

L

$

$

"inal Budget Positive

(Negative)

1,291

47,139 103 250

48,783

(19,980) 20,569 (4,383) (2,916) (1,495) (2,360)

(15,184)

(17,177) (1,281)

(44,207)

4,576

_

4,576

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

SCHEDULE OF FINDINGS AND RESPONSES For the Year Ended December 31, 2012 See Accountants' Compilation Report

There are no findings in the current year.

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FIRE PROTECTION DISTRICT NO. 7 OF ACADIA PARISH

SCHEDULE OF PRIOR YEAR FINDINGS For the Year Ended December 31,2012 See Accountants' Compilation Report

#2011-1 Issuance of Debt

Finding: In the current year, the District borrowed $24,072 from a local bank to purchase a truck without first obtaining State Bond Commission approval. State law requires that local governments obtain State Bond Commission approval prior to issuing debt.

Recommendation: Procedures should be established to ensure debt is not issued without first obtaining State Bond Commission approval. In addition, the District should consult its attorney to determine what action should be taken.

Current Status: Resolved.

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