Housing Authority of St. Landry Parish - Louisiana · PDF fileHousing Authority of St. Landry,...

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2012 DEC-7 AM 9-- U

HOUSING AUTHORITY OF ST.LANDRY PARISH WASHINGTON, LOUISIANA

AUDITED FINANCIAL REPORT YEAR ENDED JUNE 30,2012

Under provisions of state iaw, this report is a pubiic docurnent, Acopy cf the report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office of the Legislative Auditor and. where appropriate, at the office of the parish cterk of court.

Release Date DEC 1 9 2012

TABLE OF CONTENTS

FINANCIAL SECTION Page

Management's Discussion and Analysis i - vii

Independent Auditor's Report 1-2

Financial Statements:

Statement of Net Assets 4-5

Statement of Revenues, Expenses, and Changes in Net Assets 6

Statement of Cash Flows 7-8

Notes to Financial Statements 9-15

Other Reports and Schedules:

Schedule of Expenditures of Federal Awards 17

Report on Intemal Control over Financial Reporting And on Compliance And Other Matters Based on an Audit of Financial Statements Performed in Accordance With Govemment Auditing Standards 18-19

Report on Compliance with Requirements That Could Have a Direct and Material Effect on Each Major Program And on Intemal Control over Compliance in Accordance with OMB Circular A-133 20-21

Status of Prior Audit Findings 22

Findings and Questioned Costs 23

Supplemental Information

Statement and Certification of Actual Modernization Costs 25

Financial Data Schedules 26-35

Housing Authority of St. Landry, Louisiana

Management's Discussion and Analysis (MD&A) June 30. 2012

The management of Public Housing Authority of St Landry, Louisiana presents the following discussion and analysis (MD&A) of the l-lousing Authority's financial activities for the fiscal year ending June 30, 2012. This represents an overview of financial information. Please read this discussion and analysis In conjunction with the Authority's included audited financial statements.

FINANCIAL HIGHLIGHTS

• The primary source of funding for these activities continues to be subsidies and grants from the Department of Housing and Urban Development (HUD), whereas tenant rentals provide a secondary but also significant source of funding.

• The Housing Authority's assets exceeded its liabilities by $4,145,095 at the close of the fiscal year ended 2012.

•/ Of this amount $2,192,430 represents a restriction equal to the net amount invested in land, buildings, furnishings, leasehold improvements, equipment, and construction in progress, minus associated debts.

V Also of this amount, $371,220 of net assets are restricted for the Housing Choice Voucher program

^ Theremainderof $1,581,445 of unrestricted assets could be used to meet the Housing Authority's ongoing obligations to citizens and creditors. As a measure of financial strength, this amount equals 44% of the total operating expenses of $3,596,624 for the fiscal year 2012, which means the Authority might be able to operate about 5 months using the unrestricted assets alone, compared to 6 months in the prior fiscal year.

• The Housing Authority's total net assets increased by $185,656, a 5% increase from the prior fiscal year 2011. This increase is attributable to significant increases in Federal grants for both operations and capital improvements, described in more detail below.

• The increase in net assets of these funds was accompanied by a decrease in unrestricted cash by $209,971 from fiscal year 2011, primarily due to spending $138,569 less for operations than Federal funds received for operations; spending $48,541 more for capital assets than Federal capital grants received; and transferring $300,000 of excess cash into investments

• The Authority spent $46,750 on capital asset additions and $220,930 on construction in progress during the current fiscal year.

• These changes led to an increase in total assets by $155,579 and a decrease in total liabilities by $30,077. As related measure of financial health, there are still over $22 of current assets covering each dollar of total current liabilities, which compares to $17 covering the prior fiscal year's liabilities.

• The Housing Authority continues to operate without the need for debt borrowing.


Management's Discussion and Analysis (MD&A) June 30, 2012

OVERVIEW OF THE FINANCIAL STATEMENTS

This MD&A is intended to serve as an introduction to the Housing Authority's basic financia! statements. The Housing Authority is a special-purpose government engaged in business-type activities. Accordingly, only fund financial statements are presented as the basic financial statements, comprised of two components: (1) fund financial statements and (2) a series of notes to the financial statements. These provide information about the activities of the Housing Authority as a whole and present a longer-term view of the Housing Authority's finances. This report also contains other supplemental information in addition to the basic financial statements themselves demonstrating how projects funded by HUD have been completed, and whether there are inadequacies in the Authority's internal controls.

Reporting on the Housing Authority as a Whole

One of the most important questions asked about the Authority's finances is, "Is the Housing Authority as a whole better off, or worse off, as a result of the achievements of fiscal year 2012?" The Statement of Net Assets and the Statement of Revenues, Expenses, and Changes in Net Assets report information about the Housing Authority as a whole and about its activities in a way that helps answer this question. These statements include all assets and liabilities using the accrual basis of accounting, which is similar to the accounting used by most private-sector companies. All of the current year's revenues and expenses are taken into account regardless of when cash is received or paid.

Fund Financial Statements

Ail of the funds of the Housing Authority are reported as proprietary funds. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Housing Authority, like other enterprises operated by state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

The Housing Authority's financial statements report its net assets and changes In them. One can think of the Housing Authority's net assets - the difference between assets and liabilities - as one way to measure the Authority's financial health, or financial position. Over time, increases and decreases in the Authority's net assets are one indicator of whether its financial health is improving or deteriorating. One will need to consider other non-financial factors, however, such as the changes in the Authority's occupancy levels or its legal obligations to HUD, to assess the overall health of the Housing Authority.

USING THIS ANNUAL REPORT

The Housing Authority's annual report consists of financial statements that show combined information about the Housing Authority's most significant programs:

Low Rent Public Housing $ 437,852 Public Housing Capital Fund Program 244,714 Housing Choice Vouchers 2,751 117

Total funding received this current fiscal year $3,433.683

The Housing Authority's auditors provided assurance in their independent auditors' report with which this MD&A is included, that the basic financial statements are fairly stated. The auditors provide varying degrees of assurance regarding the other information included in this report. A user of this report should read the independent auditors' report carefully to determine the level of assurance provided for each of the other parts of this report.



Reporting the Housing Authority's Most Significant Funds

The Housing Authority's financial statements provide detailed information about the most significant funds. Some funds are required to be established by the Department of Housing and Urban Development (HUD). However, the Housing Authority establishes other funds to help it control and manage money for particular purposes, or to show that it is meeting legal responsibilities for using grants and other money.

The Housing Authority's enterprise funds use the following accounting approach for Proprietary funds: All of the Housing Authority's services are reported in enterprise funds. The focus of proprietary funds is on income measurement, which, together with the maintenance of net assets, is an important financial indicator.

FINANCIAL ANALYSIS

The Housing Authority's net assets were $4,145,095 as of June 30, 2012. Of this amount, $2,192,430 was invested in capital assets, and the remaining $1,581,445 was unrestricted. There were $371,220 in specific assets restricted Housing Choice Voucher (HCV) program, for tenant security deposits and future housing payment reserves

CONDENSED FINANCIAL STATEMENTS

Condensed Statement of Net Assets (Excluding Inner-fund Transfers)

Aso f June 30, 2012 2012 2011

ASSETS

Current assets $1,714,262 $1,769,072 Assets restricted for Housing Choice Voucher (HCV) program, 371,220 231,108 Capita! assets, net of depreciation 2,192,430 2,122,153

Total assets

LIABILITIES Current liabilities Non-current liabilities

Total liabilities

NET ASSETS Invested in capital assets, net of depreciation Net assets restricted for the Housing Choice Voucher program Unrestricted net assets

Total net assets

Total liabilities and net assets

HI

4,277,912

77,264 55,553

132,817

2,192,430

371,220

1,581.445

4,145,095

4,277,912

4,122,333

107.091 55,803

162,894

2,122,153

231,108

1.606,178

3,959,439

4,122,333



CONDENSED FINANCIAL STATEMENTS (Continued)

The net assets of these funds increased by $185,656, or by 5%, from thoseof fiscal year 2011. as explained below. In the narrative that follows, the detail factors causing this change are discussed:

Condensed Statement of Revenues, Expenses, and Changes in Fund Net Assets (Excluding Inner-fund Transfers) Fiscal Year Ended June 30, 2012

OPERATING REVENUES Tenant rental revenue Other tenant revenue

Total operating revenues

OPERATING EXPENSES General Maintenance and repairs Administrative expenses and management fees Utilities Federal Housing Assistance Payments (HAP) to landlords Depreciation Tenant services Extraordinary repairs

Total operating expenses

(Losses) from operations

NON-OPERATING REVENUES Federal grants for operations Interest income Gains from sale or disposal of assets Fraud Recovery Other non-tenant revenue

Total Non-Operating Revenues

NON-OPERATING EXPENSES

Total non-operating expenses

(Losses) after non-operating revenues

OTHER CHANGES IN NET ASSETS Federal grants for capital expenditures

NET INCREASES IN NET ASSETS

NET ASSETS, beginning of fiscal year

NET ASSETS, end of fiscal year

2012

(35,274)

220.930

185,656

3,959,439

4.145,095

2011

$246,719 10.847

257,566

172,322

252.537

483.301 50,614

2,375.193

246,424

673 15,560

3.596,624

(3,339,058)

3,212,754 4,400 16.200

42,043 28,387

3,303,784

$228,130 10.890

239,020

247,207

233.776

444,565 50,393

2,275.278

220,215

517 10,825

3.482,776

(3,243.756)

3,057,320 5,213

-

91,020 24,381

3,177,934

(65,822)

198,218

132,396

3,827,043

3.959,439

IV



EXPLANATIONS OF FINANCIAL ANALYSIS

Compared with the prior fiscal year, total operating and non-operating revenues increased $167,107, or by 5%, from a combination of larger offsetting factors. Reasons for most of this change are listed below:

• Total tenant revenue increased by $18,546. or by 8% from that of the prior fiscal year, because occupancy rates increased by 3%, and because the amount of rent each tenant pays is based on a sliding scale of their personal income. Some tenants' personal incomes increased, so rent revenue from these tenants increased accordingly, raising the overall total. Finally, other tenant revenues (such as fees collected from tenants for late payment of rent, damages to their units, and other assessments) decreased by $43.

• Federal revenues from HUD for operations increased by $155,434, or by 5% from that of the prior fiscal year. The determination of operating grants is based in part upon operations performance of prior years. This amount fluctuates from year-to-year because of the complexities of the funding formula HUD employs. Generally, this formula calculates an allowable expense level adjusted for inflation, occupancy, and other factors, and then uses this final result as a basis for determining the grant amount. The amount of rent subsidy received from HUD depends upon an eligibility scale of each tenant. There was an increase in the number of eligible tenants receiving subsidies, so Housing Assistance Grants increased accordingly, lowering the overall total.

• Federal Capital Funds from HUD increased by $22,712. or by 11% from that of the prior fiscal year. The Housing Authority was still in the process of completing projects funded from grants by HUD for fiscal years 2009 through 2010. and submitted a new grant during this current fiscal year.

• Total other non-operating revenue decreased by $44.971, or by 39% from that of the prior fiscal year, because the Authority received proceeds from casualty insurance claims, which are recorded as other income by the Authority in the year received, and the Authority received some waivers of payments in lieu of taxes (PILOT) from its related City taxing authority. In addition, gains on the sale of capital assets increased by $16,200.

• Gains on sales of assets increased by $16,200 from that of the prior fiscal year.

• Interest income totaling $4,400, did not change significantly from the prior to the current year.

Compared with the prior fiscal year, total operating and non-operating expenses increased $113,848, or by 3%. but this also was made up of a combination of offsetting factors. Again, reasons for most of this change are listed below:

Depreciation expense increased by $26,209, or by 12% from that of the prior fiscal year, because there was an increase in capital assets by $174,181.

• Maintenance and repairs increased by $23,496. or by 10% from that of the prior fiscal year, due to several major factors: Repair staff wages decreased by $492. or by 0%, and related employee benefit contributions increased by $5,334, or by 10%. Also, materials used increased by $12,741, or by 32%, and contract labor costs increased by $1,178. or by 7%. In addition. Extraordinary maintenance increased by $4,735. or by 44% from that of the prior fiscal year.



• General Expenses decreased by $74,885. or by 30% from that of the prior fiscal year, and payments in lieu of taxes (P(LOT) increased by $2,303, or by 13%. PILOT is calculated as a percentage of rent (which increased by 8%) minus utilities (which increased 0%), and therefore changed proportionately to the changes in each of these, primarily because insurance premiums decreased by $2,433, or by 2%, since property and casualty insurance premiums decreased, whereas other general expenses increased by $555. Bad debts increased by $56,237, or by 86%, because these changed roughly proportional to rent, which increased by 8%. Lastly, compensated absences decreased by $19,072, or by 39%.

• • Administrative Expenses increased by $38,736, or by 9% from that of the prior fiscal year, due to a combination of offsetting factors: Administrative staff salaries increased by $65, and related employee benefit contributions increased by $12,159, or by 11% therefore, total staff salaries and benefit costs increased by 4%. In addition, audit fees increased by $1,902, or by 66%, accounting fees increased by $0. management fees paid to outside consultants increased by $0 legal fees Increased by $80, or by 44%; thus, total outside professional fees increased by 59%. Finally, staffs travels reimbursements increased by $8,964, or by 138%, office expenses increased by $15,424, or by 17%, but sundry expenses decreased by $302, or by 36%; therefore, other staff administrative expense increased by 25%.

• Housing Assistance Payments to landlords increased by $99,915, or by 4% from that of the prior fiscal year, because there was an increase in the number of tenants qualifying for subsidy during the year.

• Utilities Expense increased by $221 from that of the prior fiscal year, because water cost increased by $1,234, due to a decrease in consumption by 12% and an increase in rate by 22%, electricity cost increased by $200, due to a decrease in consumption by 4% and an increase in rate by 6%, gas cost decreased by $1,599, due to a decrease in consumption by 10% and a decrease in rate by 3%, and other utilities expense (such as labor, benefits, garbage, sewage, and waste removal) decreased by $1,214, or by 5%.

• Tenant services, totaling $673, did not change significantly from the prior to the current year.

CAPITAL ASSET AND DEBT ADMINISTRATION

Capital Assets

At June 30, 2012. the Housing Authority had a total cost of $8,445,450 invested in a broad range of assets and construction in progress from projects funded in 2009 through 2010. listed below. This amount, not including depreciation, represents increases of $174,181 from the prior year. More detailed information about capital assets appears in the notes to the financial statements.

Capital Assets, Net of Accumulated Depreciation Asof June 30, 2012

2012 2011 "-^"^ $171,656 $171,656 Construction in progress 1 j j ^ 752 145 352 ^^''^'"9S 1,652! 185 1,664!375 Leasehold improvements 89,664 102 364 Furniture and equipment 101 173 37396

"^o^s' 2.192.430 2.122,153

vi


Management's Discussion and Analysis (MD&A) June 30. 2012

As of the end of the 2012 fiscal year, the Authority is still in the process of completing HUD grants of $433,456 obtained during 2009 through 2010 fiscal years. A total remainder of $40,399 will be received and $38,611 will be spent for completing these projects during fiscal year 2013.

Debt

Non-current liabilities also include accrued annual vacation and sick leave due to employees. The Housing Authority has not incurred any mortgages, leases, or bond indentures for financing capital assets or operations.

ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS AND RATES

The Housing Authority is primarily dependent upon HUD for the funding of operations; therefore, the Housing Authority is affected more by Federal budget than by local economic conditions. The capital budgets for the 2013 fiscal year have already been submitted to HUD for approval and no major changes are expected.

The Capital fund programs are multiple year budgets and have remained relatively stable. Capital Funds are used for the modernization of public housing properties including administrative fees involved in the modernization.

CONTACTING THE HOUSING AUTHORITY'S FINANCIAL MANAGEMENT

Our financial report is designed to provide our citizens, investors, and creditors with a general overview of the Housing Authority's finances, and to show the Housing Authority's accountability for the money it receives. If you have questions about this report, or wish to request additional financial information, contact Donna Pitre, at Public Housing Authority of St Landry, Louisiana; P.O Box 276* St Landry LA 70589.

vn

RICHARD C . U R B A N

CERTIFIED PUBLIC ACCOUNTANT

M E M B E R : OFFICE:

AMERICAN INSTITUTE OF 1 112 HEATHER DRIVE

CERTIFIED PUBLIC ACCOUNTANTS OPELOUSA5 . LOUISIANA 7 0 5 7 0

SOCIETY OF LOUISIANA PHONE C337) 942-2154

CERTIFIED PUBLIC ACCOUNTANTS FAX (337) 946-3813

INDEPENDENT AUDITOR'S REPORT

To the Board of Commissioners Housing Authority of St. Landry Parish Washington, Louisiana

We have audited the accompanying basic fmancial statements of the Housing Authority of St. Landry Parish, Louisiana as of and for the year ended June 30, 2012, as hsted in the table of contents. These fmancial statements are the responsibility of the Housing Authority's management. Our responsibility is to express opinions on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fmancial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall fmancial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Housing Authority of St. Landr>̂ Parish, Louisiana, as of June 30, 2012, and the respective changes in financial position and cash flows, thereof for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

In accordance with Govemment Auditing Standards, we have also issued our report dated November 1, 2012, on our consideration of the Housing Authority of St. Landry Parish, Louisiana's intemal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of intemal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the intemal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Govemment Auditing Standard^ and should be considered in assessing the results of our audit.

The management's discussion and analysis on pages i - vii, is not a required part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary' information. However, we did not audit the information and express no opinion on it.

Our audit was conducted for the purpose of forming opinions on the fmancial statements that collectively comprise the Housing Authority of St. Landry Parish, Louisiana's basic fmancial statements. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Govemments, and Non-Profit Organizations, and is not a required part of the basic financial statements. The accompanying financial information listed as supplemental information in the table of contents is presented for additional analysis and is not a required part of the financial statements of the Housing Authority of St. Landry Parish, Louisiana. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.

The accompanying Financial Data Schedules required by HUD are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly slated in all material respects in relation to the basic financial statements taken as a whole.

Richard C. Urban, CPA

Opelousas, Louisiana November L 2012

FINANCIAL STATEMENTS

HOUSING AUTHORITY OF ST. LANDRY STATEMENT OF NET ASSETS

June 30, 2012

ASSETS

Current assets: Cash and cash equivalents $ 717,009 Accounts receivable, net 44,312 Investments 850,000 Prepaid expenses 86,724

Total current assets 1.698,045

Restricted assets: Cash and cash equivalents 387,437

Total restricted assets 387,437

Non-current assets: Capital assets:

Land 171,656 Constmction in progress 177,752 Other capital assets, net of

accumulated depreciation 1,843,021

Total capital assets, net of accumulated depreciation 2,192,429

Total assets 4.277.911

See accompanying notes to financial statements.

4

LIABILITIES

Liabilities: Current liabilities:

Accounts payable $ 7,054 Accmed wages and benefits payable 2,013 Payable to other govemments 20,077 Compensated absences payable 14,721 Accounts payable HUD 13,098 Deferred revenue 799 Other current liabilities 5,671

Total current liabilities 63,433

Liabilities payable fi*om restricted assets: Tenant security deposits 13,830

Total liabilities payable from restricted assets 13.830

Non-current liabilities:

Compensated absences payable 55,553

Total non-current liabilities 55,553

Total liabilities 132,816

NET ASSETS Invested in capital assets, net of related debt 2,192,429 Restricted for Housing Choice Vouchers 371,220 Unrestricted 1,581,446

Total net assets 4,145.095

Total liabihties and net assets 4.277.911

HOUSING AUTHORITY OF ST. LANDRY STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN NET ASSETS Year Ended June 30,2012

OPERATING REVENUES Annual contributions - Housing Assistance Payments HUD administrative fee - Section 8 HUD administrative fee - CFP Public housing operating subsidy Tenant rental revenue Other tenant revenue Other income

Total operating revenues

OPERATING EXPENSES Housing Assistance Payments Administrative General and insurances Repairs and maintenance Utilities Tenant services Extraordinary maintenance Depreciation and amortization Total operating expenses

Operating income (loss)

NON-OPERATING REVENUE (EXPENSED Investment income Total non-operating revenue (expense)

Income (loss) before other revenues, expenses, gains, losses and transfers

Capital contributions (grants)

Increase (decrease) in net assets

Net assets, beginning of year

Net assets, end of year

2,415,757 335,360

23,784 437,852 246,719

10,847 86.741

3.557.060

2,375,193 483,300 172.323 252.537

50,614 672

15,560 246,424

3.596,623

( 39,563)

4.289 4,289

( 35,274)

220.930

185,656

3,959,439

4.145.095


6

HOUSING AUTHORITY OF ST. LANDRY STATEMENT OF CASH FLOWS

Year Ended June 30, 2012

Cash flows from operating activities: Cash received from tenants $ 273,010 Cash received from HUD (operations) 3,205,177 Other cash received 48,060 Cash payments to landlords ( 2,375,193) Cash payments to suppliers ( 616,099) Cash payments to employees ( 356.523)

Net cash provided (used) by operating activities 178,432

Cash flows from capital and related financing activities Acquisition and constmction of capital assets ( 317,800) Capital grants received 220,930

Net cash provided (used) by capital and related financing activities ( 96,870)

Cash flows fi'om investing activities Tenant security deposits 1,100 Purchase of investments ( 300,000) Investment income 4,289

Net cash provided (used) by investing activities ( 294,611)

Net increase (decrease) in cash and cash equivalents ( 213,049)

Cash and cash equivalents at July 1,2011 1,317,495

Cash and cash equivalents at June 30, 2012 1.104.446


7

Reconciliation of operating income doss") to net cash provided (used) bv operating activities:

Operating income (loss) Adjustments to reconcile operating

income (loss) to net cash provided (used) by operating activities: Depreciation Changes in assets and liabilities:

(Increase) decrease in accounts receivable

(Increase) decrease in prepaid expenses and other assets

Increase (decrease) in accounts payable

Increase (decrease) in payable to other govemments Increase (decrease) in other liability Increase (decrease) in compensated

absences payable Increase (decrease) in tenant security deposits Increase (decrease) in deferred

revenue Total adjustments

Net cash provided (used) by operating activities

$( 39,563)

246,424

7,868

( 6,219)

( 34,016) 2,303

13,957

( 250) 1,100

( 13.172) 217,995

178,432

HOUSING AUTHORITY OF ST. LANDRY PARISH Washington, Louisiana

NOTES TO FINANCIAL STATEMENTS June 30,2012

INTRODUCTION

The Housing Authority of St. Landry Parish (authority) was created by Louisiana Revised Statute (LSA-R.S.) 40.391 to engage in the acquisition, development, and administration of a low rent housing program to provide safe, sanitary, and affordable housing to the residents of St. Landry Parish, Louisiana.

The authority is administered by a six-member board appointed by the parish. Members of the board serve five-year staggered terms.

Under the United States Housing Act of 1937, as amended, the U.S. Department of Housing and Urban Development (HUD) has direct responsibility for administering low rent housing programs in the United States. Accordingly, HUD has entered into an annual contributions contract with the authority for the purpose of assisting the authority in financial the acquisition, constmction, and leasing of housing units and to make annual contributions (subsidies) to the authority for the purpose of maintaining this low rent character.

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements of the authority have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) as applied to govemmental units. The Govemmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing govemmental accounting and financial reporting principles.

Financial Reporting EntiW

GASB Codification Section 2100 defines criteria for determining the govemmental reporting entity and component units that should be included within the reporting entity. Because the authority is legally separate and fiscally independent, the authority is a separate govemmental reporting entity.

The authority is a related organization of the Parish of St. Landry, since the parish appoints a voting majority of the authority's goveming board. The parish is not financially accountable for the authority as it cannot impose its will on the authority

NOTES TO FINANCIAL STATEMENTS (CONTINUED)

and there is no potential for the authority to provide financial benefit to, or impose financial burdens on, the parish. Accordingly, the authority is not a component unit of the financial reporting entity of the parish of St. Landry, Louisiana.

GASB Codification Section 2100 defines criteria for determining which component units should be considered part of the authority for financial reporting purposes. The basic criterion for including a potential component unit within the reporting entity is financial accountability. The GASB has set forth criteria to be considered in determining financial accountability. These criteria include:

1. Appointing a voting majority of an organization's goveming body, and a. The ability of the authority to impose its will on that organization and/or b. The potential for the organization to provide specific fmancial benefits to, or

impose specific financial burdens on the authority. 2. Organizations for which the authority does not appoint a voting majority, but are

fiscally dependent on the authority. 3. Organizations for which the reporting entity financial statements would be

misleading if data of the organization is not included because of the nature or significance of the relationship.

Based on the previous criteria, the authority has determined that the following component unit should be considered as part of the authority reporting entity:

St. Landry Public Housing Corporation is a legally separate entity. The members of the authority's board of commissioners also serve as the board of directors of the entity. The authority has the ability to impose its will on the entity.

The Corporation was formed for the purpose of facilitating the development and financing of an affordable housing facility within the parish limhs of St. Landr>^ Parish. The Corporation is a partner in the developer partnership. However, since the investment limited partner owns 99+% interest in the partnership, the Corporation takes the position that eventual control of the partnership rests with the investment limited partnership.

The partnership has entered into loan agreements and other financing arrangements that may have incurred contingent liabilities on behalf of the Corporation, but not any that would obligate the PHA. No contingencies have been reported in the PHA financial statements.

The material Corporation financial activities are included in the PHA financials through blended presentation.

Fund Accounting


The authority uses fiinds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions relating to certain govemment fimctions or activities. A fiind is a separate accounting entity with a self-balancing set of accounts.

The authority accounts for its business-type activities as proprietary funds.

Proprietarv' funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Operating income reported in proprietary fimd financial statements includes revenues and expenses related to the primary, continuing operations of the fund. Principal operating revenues for proprietar>^ funds are charges to tenants for rents or other services as well as operating subsidies received from HUD. Principal operating expenses are the costs of providing these services and include administrative expenses and depreciation of capital assets. Other revenues and expenses are classified as non-operating in the financial statements.

Basis of Accounting

The accmal basis of accounfing is utilized by proprietary funds. Under this method, revenues are recorded when eamed and expenses are recorded at the time liabilities are incurred.

Budgets

The authority prepares its financial statements in accordance with generally accepted accounfing principles. In accordance with the provisions of its annual contributions contract with the Department of Housing and Urban Development, the authority prepares an annual budget. This budget is prepared in conformity with the accounting practices prescribed by HUD, which is a comprehensive basis of accounting other than generally accepted accounting principles. Because of the differences in accounting practices, no budgetary information is provided in this report.

The following are the budgetary practices prescribed by HUD and used by the authority:

The Executive Director prepares a proposed budget and submits same to the Board of Commissioners no later than thirty days prior to the beginning of each fiscal year. Following discussion and acceptance of the budget by the Board, it is sent to HUD for approval. Upon approval by HUD, the budget is formally adopted. Any budgetary amendments require the approval of the Executive Director and the Board of Commissioners. Any budgetary appropriations lapse at the end of each fiscal year.

11


Cash and Cash Equivalents

Cash includes amounts in demand deposits, interest-bearing demand deposits. Cash equivalents include amounts in certificates of deposit with original maturifies of 90 days or less. Under state law, the authority may deposit funds in demand deposits, interest-bearing demand deposits, money market accounts, or time deposits with state banks organized under Louisiana law and national banks having their principal offices in Louisiana.

Under state law, the authority may invest in United States bonds, treasury notes, or certificates. These are classified as investments if their original maturities exceed 90 days; however, if the original maturities are 90 days or less, they are classified as cash equivalents.

Prepaid Items

Payments made to insurance companies for coverage that will benefit the period beyond June 30, 2012 are recorded as prepaid insurance.

Capital Assets

Depreciation of all exhaustible capital assets used by the proprietary fund is charged as an expense against their operations. Depreciation has been provided over the estimated useful lives using the straight-line method. The estimated useful lives are as follows:

Dwelling stmctures 33 years Building improvements 15 years Vehicles, machiner>' and equipment 3-7 years

All fixed assets are stated at historical cost.

Compensated Absences

The authority follows Civil Service guidelines pertaining to the accumulafion of vacafion and sick leave for all employees other than the executive director. The Board of Commissioners approved a resolution allowing the director to be paid for all accumulated annual leave upon his leaving. For all employees other than the executive director, this leave may be accumulated and carried over between fiscal years, with a maximum of 300 hours of payment of leave upon terminafion or retirement at their then current rate of pay. Employees do not receive payment for unused sick leave upon termination or retirement. The cost of current leave privileges, computed in accordance with GASB Codification Section C60, is recognized as a current expense in the proprietary fund. The unpaid

12


portion of leave privileges is recorded as a current liability in the proprietary fund.

NOTE 2 - CASH AND CASH EQUIVALENTS AND INVESTMENTS

At June 30, 2012, the authority has cash and cash equivalents, and investments totaling $1,867,495 as follows:

Interest-bearing demand deposit $1,104,396 Certificates of deposh 850,000 Other 50

Total 1,954,446

These deposits are stated at cost, which approximates market. Under state law, these deposits must be secured by federal deposit insurance or the pledge of securities owned by the fiscal agent. The market value of the pledged securities plus the federal deposit insurance must at all times equal the amount on deposit with the fiscal agent. These securifies are held in the name of the pledging fiscal agent bank in a holding or custodial bank that is mutually acceptable to both parties: At June 30, 2012, the authority has $1,954,396 in deposits (bank balances), categorized below to reflect the amount of risk assumed by the authority.

GASB Category 1 $1,322,552 GASB Category 2 GASB Categor>^ 3 631,844

1,954,396

Even though the pledged securities are considered uncollateralized (Category 3) under the provisions of GASB Statement 3, Louisiana Revised Statue 39:1229 imposes a statutory- requirement on the custodial bank to advertise and sell the pledged securities v^thin 10 days of being notified by the authority that the fiscal agent has failed to pay deposited fiinds upon demand.

NOTE 3 - RECEIVABLES

The receivables of $44,312 at June 30, 2012, are as follows:

13

NOTES TO FINANCIAL (CONTINUED)

Class of Receivable Amount Dept. of Housing and Urban Development $ 40,469 Tenants (net of allowance for doubtful accounts of $9,617) 3,843

Total 44,312

NOTE 4 - RESTRICTED ASSETS

Restricted assets were applicable to the following at June 30, 2012:

Tenant security deposits $ 13,830 Housing Choice Vouchers 373,607

387.437

NOTE 5 - CAPITAL ASSETS

The changes in fixed assets are as follows:

6/30/11 Additions Delefions 6/30/12

Land $ 171,656 $ 171,656

Constmcfion in progress 146,362 177,752 146,362 177,752 Buildings 7,615,520 189,540 7,805,060 Fumiture and equipment 337.731 96,870 143.620 290.981

8,271,269 464,162 289,982 8,445,449 Accumulated deprec. 6.149,116 246.424 142.520 6.253.020

2,122,153 217,738 147,462 2,192.429

NOTE 6 - RETIREMENT SYSTEMS

The authority participates in the Housing-Renewal and Local Agency Retirement Plan which is a defined contribution plan. The plan consists of employees of various local and regional housing authorities, urban renewal agencies, and other similar organizations. Through the plan, the authority provides pension benefits for all full-time employees. All eligible individuals must be employed for at least six months before participating in the plan. Under a defined contribution plan, benefits depend solely on amounts contributed to the plan and investment earnings. Benefits of the plan are funded by employee and employer contributions. Participants in the plan are required to make a monthly

14


contribution of 5.5 percent of their basic (excludes overtime) compensation. The authority makes a monthly contribution equal to 8.5 percent of each participant's basic compensation. The employer contributions and earnings allocated to each participant's account are fiilly vested after one year of continuous service. Normal retirement date shall be the first day of the month following the employee's sixty-fifth birthday or after ten years of participation in the plan. The authority's total payroll for the fiscal year ended June 30,2012, was $356,523. The authority's contribufions were made based on the total covered payroll of $356,523. The authority and the covered employees made the required contributions for the year ended June 30, 2012. Employee contributions totaled $19,610 while the authority's contributions totaled $30,306 for the year ended June 30, 2012.

NOTE 7 - COMPENSATED ABSENCES

At June 30, 2012, employees of the authority have accumulated and vested $70,274 of employee leave benefits, which is presented as both current and non-current liabilities of the proprietary fund in the balance sheet. The current portion is $14,721 while the non-current portion is $55,553. Except as discussed above, the liability has been computed in accordance with GASB Codificafion Section C60.

NOTE 8 - RISK MANAGEMENT

The authority is exposed to all common perils associated with the ownership and rental of real estate properties. To minimize loss occurrence and to transfer risk, the authority carries various commercial insurance policies including property, casualty, employee dishonesty, public official's liability, business auto and other miscellaneous policies. These policies are reviewed for adequacy by management annually. There has been no significant reduction in insurance coverages from those in the prior year. Also, there have been no significant claims that have exceeded commercial insurance coverages in the current and prior year.

NOTE 9 - FEDERAL COMPLIANCE CONTINGENCIES

The authority is subject to possible examinations by federal regulators who determine compliance with terms, condidons, laws and regulations goveming grants given to the entity in the current and prior years. These examinations may result in required refunds by the entity to federal grantors and/or program beneficiaries. No questioned or disallowed costs were noted for inclusion in our report.

NOTE 10 - COMPENSATION OF BOARD MEMBERS

All board members serve without compensation.

15

OTHER REPORTS AND SCHEDULES

HOUSING AUTHORITY OF ST. LANDRY PARISH SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS

Year Ended June 30. 2012

Federal Grantor/ Program Title

U.S. Dept. of Housing and Urban Development

Direct Programs: Capital Fund Programs Low-income HAP Housing Choice Vouchers

Total U.S. Dept. of Housing And Urban Development

Total federal assistance

Federal funds on hand, beginning Federal funds received Federal funds disbursed

CFDA No..

14.872 14.850 14.871

;ofyear

Federal funds on hand, end of year

Federal Award Received

244,714 437,852

2.751,117

3.433.683

3,433,683

$ 232,681 3.433,683

(3.292,757)

373,607

Program Expenditures

244.714 437,852

2,610,191

3.292,757

3.292,757

The above schedule is prepared under the accmal basis of accounting.

17



M E M B E R : OFFICE:

AMERICAN INSTITUTE OF 1112 HEATHER DRIVE

CERTIFIED PUBLIC ACCOUNTANTS OPELOUSAS. LOUISIANA 7 0 5 7 0

SOCIETY OF LOUISIANA PHONE (337) 942-2154

CERTIFIED PUBLIC ACCOUNTANTS FAX C337) 948-3813

Board of Commissioners Housing Authority of St. Landiy Parish Washington, Louisiana

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF

FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

We have audited the fmancial statements of the business-type activities of the Housing Authority of St. Landry Parish, Louisiana, as of and for the year ended June 30,2012, which collectively comprise the Housing authority's basic financial statements and have issued our report thereon dated November 1, 2012. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States.

Intemal Control Over Financial Reporting

Management of the Housing Authority is responsible for establishing and maintaining effective intemal control over financial reporting. In planning and performing our audit, we considered the Housing Authority's intemal control over financial reporting as a basis for designing in our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Housing Authority's intemal control over fmancial reporting. Accordingly, we do not express an opinion on the effectiveness of the Housing Authority's intemal control over fmancial reporting.

A deficiency in intemal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in intemal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis.

Our consideration of intemal control over fmancial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in intemal control over financial reporting that might be deficiencies,

18

significant deficiencies or material weaknesses. We did not identify any deficiencies in intemal control 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 Housing Authority of St. Landry Parish, Louisiana's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of fmancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Govemment Auditing Standards.

This report is intended for the information of the Board of Commissioners, management, the Department of Housing and Urban Development, and the Legislative Auditor of the State of Louisiana, and is not intended to be and should not be used by anyone other than these specified parties. Under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as a public document.

Richard C. Urban. CPA

Opelousas, Louisiana November 1,2012

19



M E M B E R :

AMERICAN INSTITUTE OF

CERTIFIED PUBLIC ACCOUNTANTS

SOCI t r v OF LOUISIANA

CERTIFIED PUBLIC ACCOUNTANTS

OFFICE:

1 1 12 HEATHER DRIVE

OPELOUSAS. LOUISIANA 7 0 5 7 0

PHONE (337) 942-2154

FAX (337) 948-3813

Board of Commissioners Housing Authority of St. Landry Parish Washington, Louisiana

REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND ON

INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133

Compliance

We have audited the compliance of the Housing Authority of St. Landry Parish, Louisiana, with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2012. The Housing Authority's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of fmdings and questioned costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major federal programs is the responsibility of the Housing Authority's management. Our responsibility is to express an opinion on the Housing Authority *s compliance based on our audit.

We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States, and OMB Circular A-133. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the Housing Authority's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the Housing Authority of St. Landry Parish, Louisiana's compliance with those requirements.

In our opinion, the Housing Authorit>' of St. Landry Parish, Louisiana complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30,2012.

20

Intemal Control Over Compliance

The management of the Housing Authority is responsible for establishing and maintaining effective intemal control over compliance with requirements of laws, regulations, contracts and grants applicable to federal programs. In planning and performing our audit, we considered the Housing Authority's intemal control over compliance with the requirements that could have a direct and material effect on a major federal program in order to determine the auditing procedures for the purpose of expressing our opinion on compliance and to test and report on intemal control over compliance in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the effectiveness of intemal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the Housing Authority's intemal control over compliance.

A deficiency in intemal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in intemal control over compliance is a deficiency, or combinadon of deficiencies, in intemal control over compliance such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis.

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

This report is intended for the informadon of the Board of Commissioners, management, the Department of Housing and Urban Development, and the Legislative Auditor of the State of Louisiana, and is not intended to be used by anyone other than these specified parties. Under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as a public document. .

Richard C. Urban, CPA

Opelousas, Louisiana November 1.2012

21

HOUSING AUTHORITY OF ST. LANDRY PARISH STATUS OF PRIOR AUDIT FINDINGS

The previous audit contained no findings or questioned costs.

22

HOUSING AUTHORITY OF ST. LANDRY PARISH FINDINGS AND QUESTIONED COSTS

Year Ended June 30, 2012

The following have been idendfied as major federal programs for the year ended June 30. 2011. Program expenditures are based on the accrual basis of accoundng.

Federal Grantor/Program Title CFDA No. Program Expenditures

U.S. Dept. of Housing and Urban Development:

Low-income HAP 14.850 $ 437,852 Section 8 Voucher Program 14.871 2,610,191

SUMMARY OF AUDIT RESULTS

1. The auditor's report expresses an unqualified opinion on the financial statements of the Housing Authority of St. Landry Parish, Louisiana.

2. No deficiencies in intemal control which would be considered material weaknesses and be required to be reported in accordance with Govemment Auditing Standards were idendfied during the audit of the financial statements.

3. No instances of noncompliance material to the financial statements which would be required to be reported in accordance with Govemment Audidng Standards were disclosed during the audit.

4. No deficiencies in intemal control over major federal award programs that we considered to be material weaknesses were disclosed during the audit.

5. The auditor's report on compliance for the major federal award programs expresses an unqualified opinion.

6. No findings were disclosed that were required to be reported in accordance with OMB Circular A-133.

7. The threshold for disdnguishing Types A and B programs was $300,000. 8. The Housing Authority of St. Landry Parish qualified as a low-risk auditee.

FINDINGS

No findings were noted with this audit. The management and staff of the Housing Authority are performing their duties in a very professional and competent manner.

23

SUPPLEMENTAL INFORMATION

HOUSING AUTHORITY OF ST. LANDRY PARISH STATEMENT AND CERTIFICATION OF ACTUAL MODERNIZATION COSTS

At June 30. 2012

2009 PHASE LA 48P067501-09

FUNDS APPROVED FUNDS EXPENDED

EXCESS OF FUNDS APPROVED

FUNDS ADANCED FUNDS EXPENDED

EXCESS OF FUNDS ADVANCED

$ 217,093 217,093

-0-

S 217.093 217.093

-0-

1. The distribution of costs by project as shown on the Final Statement of Modemization Cost submitted to HUD for approval is in agreement with the PHA's records.

2. All modemization costs have been paid and all related liabilities have been discharged through payment.

25

Housirig Authority of the Parish of St. Landry (LA067)

WASHINGTON, LA Entity Wide Balance Sheet Summary

Submission Type: Audited/A-133 Fiscal Year End: 06/30/2012

11 Cash - Unrestricted

12 Cash - Restricted - Modernization and Development

13 Cash - Other Restricted

14 Cash - Tenant Security Deposits

15 Cash - Restricted for Payment of Current Liabilities

00 Total Cash

21 Accounts Receivable - PHA Projects

22 Accounts Receivable - HUD Other Projects

24 Accounts Receivable - Other Government

25 Accounts Receivable - Miscellaneous

26 Accounts Receivable - Tenants

26.1 Allowance for Doubtful Accounts -Tenants

26.2 Allowance for Doubtful Accounts - Other

27 Notes, Loans, & Mortgages Receivable - Current

28 Fraud Recovery

28.1 Allowance for Doubtful Accounts - Fraud

29 Accrued Interest Receivable

20 Total Receivables, Net of Allowances for Doubtful Accounts

31 Investments - Unrestricted

32 Investments - Restricted

35 Investments - Restricted for Payment of Current Liability

42 Prepaid Expenses and Other Assets

43 Inventories

Project Total

$381,045

$0

$0

$13,830

$0

$394,875

$0

$1,788

$0

$13,460

-$9,617

$0

$0

$0

$0

$0

$5,631

$300,000

$0

$0

$74,943

$0

14.871 Housing Choice Vouchers

$264,890

$0

$371,220

$0

$2,387

$638,497

$0

$0

$0

SO

$0

$0

$0

$0

$38,681

$0

$0

$38,681

$550,000

$0

$0

$11,781

$0

8 Other Federal Program 1

$60,914

$0

$0

$0

$0

$60,914

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

14.239 HOME Investment

Partnerships Prograrr

$10,160

$0

$0

$0

$0

$10,160

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

Subtotal

$717,009

$0

$371,220

$13,830

$2,387

$1,104,446

$0

$1,788

$0

$0

$13,460

-$9,617

$0

$0

$38,681

$0

$0

$44,312

$850,000

$0

$0

$86,724

$0

Housing Authority of the Parish of St. Landry (LA067)



43.1 Allowance for Obsolete Inventories

44 Inter Program Due From

45 Assets Held for Sale

50 Total Current Assets

61 Land

62 Buildings

63 Furniture, Equipment & Machinery - Dwellings

64 Furniture. Equipment & Machinery - Administration

65 Leasehold Improvements

66 Accumulated Depreciation

67 Construction in Progress

68 Infrastructure

60 Total Capital Assets, Net of Accumulated Depreciation

71 Notes, Loans and Mortgages Receivable - Non-Current

72 Notes, Loans, & Mortgages Receivable - Non Current - Past Due

73 Grants Receivable - Non Current

74 Other Assets

76 Investments In Joint Ventures

80 Total Non-Current Assets

90 Total Assets

11 Bank Overdraft

12 Accounts Payable <= 90 Days

Project Total

$0

$118,916

$0

$894,365

$171,656

$6,791,810

$103,296

$142,386

$1,013,250

-$6,230,659

$177,752

$0

$2,169,491

$0

$2,169,491

$3,063,856

$0

$7,054


$0

$0

$0

$1,238,959

$0

$0

$0

$45,299

$0

-$22,361

$0

$0

$22,938

$0

$0

$0

$0

$0

$22,938

$1,261,897

$0

$0


$0

$0

$0

$60,914

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$60,914

$0

$0


Partnerships Progran'

$0

$0

$0

$10,160

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$10,160

$0

$0

Subtotal )

$0

$118,916

$0

$2,204,398

$171,656

$6,791,810

$103,296

$187,685

$1,013,250

-$6,253,020

$177,752

$0

$2,192,429

$0

$0

$0

$0

$0

$2,192,429

$4,396,827

$0

$7,054




113 Accounts Payable >90 Days Past Due

121 Accrued Wage/Payroll Taxes Payable

i22 Accrued Compensated Absences - Current Portion

124 Accrued Contingency Liability

i25 Accrued Interesl Payable

.31 Accounts Payable - HUD PHA Programs

•.32 Account Payable - PHA Projects

;33 Accounts Payable - Other Government 141 Tenant Security Deposits

.42 Deferred Revenues

;43 Current Portion of Long-term Debt - Capital Projects/Mortgage

;44 Current Portion of Long-term Debt - Operating Borrowings

146 Other Current Liabilities

146 Accrued Liabilities - Other

147 Inter Program - Due To

.48 Loan Liability - Current 110 Total Current Liabilities

)51 Long-term Debt, Net of Current - Capital Projects/Mortgage Revenue

.52 Long-term Debt, Net of Current - Operating Borrowings

153 Non-current Liabilities - Other

154 Accrued Compensated Absences - Non Current

155 Loan Liability - Non Current

;56 FASB 5 Liabilities 157 Accrued Pension and OPEB Liabilities i

150 Total Non-Current Liabilities

Project Total

$0

$2,013

$8,734

$0

$0

$0

$20,077

$13,830

$799

$0

$0

$3,284

$0

$55,791

$0

$0

$30,991

$0

$0

$30,991 {


$0

$0

$5,987

$0

$0

$13,098

$0

$0

$0

$0

$0

$0

$2,387

$0

$118,716

$0

$140,188 '

$0

$0

$0

$24,562

$0

$0

$0

$24,562 1


$0

$0

$0

$0

1 $0

; $0

$0

$0

$0

$0

$0

$0

$0

$0

$100

$0

$100

$0

$0

$0

$0

$0

$0

$0

$0 1


Partnerships Prograrr

$0

$0

$0

$0

$0

I $0

$0

$0

$0

$0

$0

$0

$0

$0

$100

$100

$0

$0

$0

$0

$0

$0

$0 1

Subtotal

$0

$2,013

$14,721

$0

$0

$13,098

$0

$20,077

$13,830

$799

$0

$0

$2,387 1

$3,284

$118,916

$0

$196,179

$0

$0

$0

$55,553

$0

$0

$0

$55,553 1

CO


WASHINGTON. LA Entity Wide Balance Sheet Summary


100 Total Liabilities

i08.1 Invested In Capital Assets, Net of Related Debt

109.2 Fund Balance Reserved

i11.2 Unreserved, Designated Fund Balance

;11.1 Restricted Net Assets

112.1 Unrestricted Net Assets

112.2 Unresen/ed, Undesignated Fund Balance

i13 Total Equity/Net Assets

100 Total Liabilities and Equity/Net Assets

! Project Total

$86,782

$2,169,491

$0

$807,583

$2,977,074

$3,063,856


$164,750

$22,938

$371,220

$702,989

$1,097,147

$1,261,897

8 other Federal Program 1

$100

$0

$0

$60,814 i

$60,814

$60,914


Partnerships Program

$100

$0

$0

$10,060

$10,060

$10,160

Subtotal

$251,732

$2,192,429

$371,220 1

$1,581,446 1

$4,145,095 1

$4,396,827


WASHINGTON. LA Entity Wide Revenue and Expense Summary


'0300 Net Tenant Rental Revenue

'0400 Tenant Revenue - Other

'0500 Total Tenant Revenue

'0600 HUD PHA Operating Grants

'0610 Capital Grants

'0710 Management Fee

'0720 Asset Management Fee

'0730 Book Keeping Fee

'0740 Front Line Service Fee

'0750 Other Fees

'0700 Total Fee Revenue

'0800 Other Government Grants

'1100 Investment Income - Unrestricted

'1200 Mortgage Interest Income

'1300 Proceeds from Disposition of Assets Held for Sale

'1310 Cost of Sa le of Assets

'1400 Fraud Recovery

'1500 Other Revenue

'1600 Gain or Loss on Sale of Capital Assets

'2000 Investment Income - Restricted

0000 Total Revenue

1100 Administrative Salaries

Project Total

$246,719

$10,847

$257,566

$461,636

$220,930

$0

$2,416

$0

$0

$0

$0

$2,925

$7,000

$0

$952,473

$92,719


$0

$0

$0

$2,751,117

$0

$0

$1,216

$0

$0

$0

$42,043

$25,461

$9,200

$657

$2,829,694

$142,479


$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$112

$0

$0

$112

$0


Partnerships Progran-

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

Subtotal

$246,719

$10,847

$257,566

$3,212,753

$220,930

$0

$3,632

$0

$0

$0

$42,043

$28,498

$16,200

$667

$3,782,279

$235,198 1

o ro

Housing Authority of the Parish of St. Landry (LA067) WASHINGTON, LA

Entity Wide Revenue and Expense Summary


11200 Auditing Fees

11300 Management Fee

11310 Book-keeping Fee

11400 Advertising and Marketing

11500 Employee Benefit contributions - Administrative

11600 Office Expenses

11700 Legal Expense

11800 Travel

H810 Allocated Overhead

11900 Other

t1000 Total Operating - Administrative

12000 Asset Management Fee

12100 Tenant Sen/ices - Salaries

12200 Relocation Costs

12300 Employee Benefit Contributions - Tenant Services

»2400 Tenant Services - Other

12500 Total Tenant Sen/ices

13100 Water

13200 Electricity

13300 Gas

J3400 Fuel

13500 Labor

13600 Sewer )3700 Employee Benefit Contributions - Utilities

Project Total

$2,400

$0

1 $0

$268

$45,820

$23,207

$100

$4,039

$0

$218

$168,771

$0

$0

$0

$0

$672

$672

$17,421

$11,697 1

$11,384

$0

$0

$10,112

$0


$2,400

$0

$0 $644

$73,506

$84,077

$0

$11,423

$0

$0 " "̂

$314,529

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0 1


$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0



$0

$0

$0

$0

! $0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0 1

Subtotal 1

$4,800

$0

$0

1 $912 1

$119,326

$107,284 1

$100 1

1 $15,462

$0

$218

$483,300

$0

$0

$0

$0

$672 1

$672 1

$17,421 1

$11,697 1

$11,384

$0

$0

$10,112 1

$0 1

ro


WASHINGTON. LA Entity Wide Revenue and Expense Summary

Submission Type: Audited/A-133 Fiscal Year End; 06/30/2012

13800 Other Utilities Expense

13000 Total Utilities

14100 Ordinary Maintenance and Operations - Labor

14200 Ordinary Maintenance and Operations - Materials and Other

»4300 Ordinary Maintenance and Operations Contracts

14500 Employee Benefit Contributions - Ordinary Maintenance

14000 Total Maintenance

t5100 Protective Sen^ices - Labor

15200 Protective Services - Other Contract Costs

15300 Protective Services - Other

15500 Employee Benefit Contributions - Protective Services

tSOOO Total Protective Services

16110 Property Insurance

16120 Liability Insurance

16130 Workmen's Compensation

16140 All Other Insurance

16100 Total insurance Premiums

16200 Other General Expenses

16210 Compensated Absences

16300 Payments in Lieu of Taxes

16400 Bad debt - Tenant Rents

16500 Bad debt - Mortgages

Project Total

$0

$50,614

$121,325

$51,988

$12,461

$59,957

$245,731

$0

$0

$0

$0

$0

$47,312

$15,204

$7,679

$23,020

$93,215

$0

$17,548

$20,077

$9,437

$0


$0

$0

$0

$0

$6,806

$0

$6,806

$0

$0

$0

$0

$0

$0

$3,311

$5,336

$10,365

$19,012

$554

$12,480

$0

$0

$0


$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0


Partnerships Progrann

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0 '

$0 1

Subtotal

$0

$50,614

$121,325

$51,988

$19,267

$59,957

$252,537

$0

$0

$0

$0

$0

$47,312

$18,515

$13,015

$33,385

$112,227

$554 1

$30,028

$20,077

$9,437

$0

ro


WASHINGTON, LA Entity Wide Revenue and Expense Summary


16600 Bad debt - Other

16800 Severance Expense

16000 Total Other General Expenses

16710 Interest of Mortgage (or Bonds) Payable

16720 Interest on Notes Payable (Short and Long Term)

16730 Amortization of Bond Issue Costs

16700 Total Interest Expense and Amortization Cost

16900 Total Operating Expenses

17000 Excess of Operating Revenue over Operating Expenses

17100 Extraordinary Maintenance

17200 Casualty Losses - Non-capitalized

17300 Housing Assistance Payments

17350 HAP Portability-ln

17400 Depreciation Expense

17500 Fraud Losses

17600 Capital Outlays - Governmental Funds

17700 Debt Principal Payment - Governmental Funds

17800 Dwelling Units Rent Expense

lOOOO Total Expenses I

0010 Operating Transfer In

0020 Operating transfer Out

Project Total

$0

$0

$47,062

$0

$0

$0

$0

$606,065

$346,408

$15,560

$0

$0

$0

$239,710

$0

$0

$861,335

$23,784

-$23,784


$0

$0

• $13,034

$0

$0

$0

$0

$353,381

$2,476,313

$0

$0

$2,352,425

$22,768

$6,714

$0

$0 !

$2,735,288

$0

$0 1


$0

$0

$0

$0

$0

$0

$0

$0

$112

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0 \



$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0 1

Subtotal

$0

$0

$60,096

$0

$0

$0

$0

$959,446

$2,822,833 1

$15,560

$0

$2,352,425

$22,768

$246,424 {

$0

$0

$3,596,623

$23,784 1

-$23,784 1




0030 Operating Transfers from/to Primary Government

0040 Operating Transfers from/to Component Unit

0050 Proceeds from Notes, Loans and Bonds

0060 Proceeds from Property Sales

0070 Extraordinary Items, Net Gain/Loss

0080 Special Items (Net Gain/Loss)

0091 Inter Project Excess Cash Transfer In

0092 Inter Project Excess Cash Transfer Out

0093 Transfers between Program and Project - In

0094 Transfers between Project and Program - Out

0100 Total Other financing Sources (Uses)

0000 Excess (Deficiency) of Total Revenue Over (Under) Total

1020 Required Annual Debt Principal Payments

1030 Beginning Equity 1040 Prior Period Adjustments, Equity Transfers and Correction of

1050 Changes in Compensated Absence Balance

1060 Changes in Contingent Liability Balance

1070 Changes in Unrecognized Pension Transition Liability

1080 Changes in Special Term/Severance Benefits Liability 1090 Changes in Allowance for Doubtful Accounts - Dwelling Rents

1100 Changes in Allowance for Doubtful Accounts - Other i

1170 Administrative Fee Equity

1180 Housing Assistance Payments Equity

1190 Unit Months Available

Project Total

$0

! $0

$0

$0

$0

$0

$0

$0

$91,138

$0

$2,886,936


$0

$0

$0

$0

$0

$0

$0

$94,408

$0

$1,002,741

$0

$725,927 1

$371,220 1


$0

$0

$0

$0

$0

$0

$0

$112

$0

$60,702

1740 1 8581 1 20 |



$0

$0

$0

$0

$0

$0

$0

$0

$0

$10,060

0 1

Subtotal

$0

$0

$0

$0

$0

$0

$0

$0

$0

$185,656

$0

$3,959,439

$0

$725,927 1

$371,220 1

10341 1

ro




1210 Numberof Unit Months Leased

1270 Excess Cash

1610 Land Purchases

1620 Building Purchases

1630 Furniture & Equipment - Dwelling Purchases

1640 Furniture & Equipment - Administrative Purchases

1650 Leasehold Improvements Purchases

1660 Infrastructure Purchases

3510 CFFP Debt Service Payments

3901 Replacement Housing Factor Funds

Project Total

1577

$713,126

$0

$220,930

$0

$0

$0

$0

$0

$0


7680


20



0

Subtotal

9277

$713,126

$0

$220,930

$0

$0

$0

$0

$0

$0

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