Pointe Coupee Parish Council on Agingapp1.lla.la.gov/PublicReports.nsf/AF9B0136EE880AF... · The "Management's Discussion and Analysis" of the Pointe Coupee Council on Aging, Inc.'s

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POINTE COUPEE COUNCIL ON AGING. INC.FINANCIAL REPORT

NEW ROADS, LOUISIANAJUNE 30, 2006

under provisions of state law, this report is a publicdocument. Acopy of the report has been submitted tothe entity and other appropriate public officials. Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the office of the parish clerk of court.

Release Date_^_

TABLE OF CONTENTSPAGE

INDEPENDENT AUDITOR'S REPORT 4

SUPPLEMENTARY INFORMATION REQUIRED BY GASB STATEMENT 34 PART IManagement's Discussion and Analysis 6

BASIC FINANCIAL STATEMENTSGovernment-Wide Financial Statements:

Statement of Net Assets 13

Statement of Activities 14

Fund Financial Statements:

Balance Sheet 16

Reconciliation of the Governmental Funds Balance Sheet ToThe Government-Wide Financial Statements of Net Assets 17

Statement of Revenues, Expenditures, and Changes inFund Balances 18

Reconciliation of the Statement of Revenues, Expendituresand Changes in Fund Balances of Governmental Funds tothe Statement of Activities 19

Notes to Financial Statements 20

SUPPLEMENTARY INFORMATION REQUIRED BY GASB STATEMENT 34 PART IIBudgetary Comparison Schedule - General Fund 42

Budgetary Comparison Schedule - PCOA Fund 43

Budgetary Comparison Schedule - Transportation Fund 44

Budgetary Comparison Schedule - Title III B Fund 45

Budgetary Comparison Schedule - Title III C 1 Fund 46

Budgetary Comparison Schedule - Parish Health District 47

SUPPLEMENTARY FINANCIAL INFORMATION REQUIRED BY GOEA

Schedule of Non-Major Funds 49

Comparative Schedule of General Fixed Assets andChanges in General Fixed Assets • 51

TABLE OF CONTENTS

SUPPLEMENTARY FINANCIAL INFORMATION REQUIRED BY OMB CIRCULAR A-133

Schedule of Federal Financial Assistance 53

OTHER REPORTS REQUIRED BY GOVERNMENTAL AUDITING STANDARDS

Report on Compliance and on Internal Control over FinancialReporting Based on an Audit of Financial StatementsPerformed In Accordance with Government Auditing Standards 54

Schedule of Prior Years Findings 56

Schedule of Current Years Findings 57

Corrective Action Plan 58

Donatt C. VeVtteMember */ l/)tf/7//| 17 JP 1/1 IfP Mernber

American Insitute CPAs JL/l/fH* W W* Z^XC K WP Louisiana Society CPAs

7829 BLUEBONNET BLVD.BATON ROUGE, LA 70810

(225) 767-7829

INDEPENDENT AUDITOR'S REPORT

August 24, 2006

To the Board of DirectorsPointe Coupee Council on AgingNew Roads, Louisiana

I have audited the accompanying financial statements of thegovernmental activities, each major fund, and the aggregate remainingfund information of the Pointe Coupee Council on Aging as of and forthe year ended June 30, 2006, which collectively comprises theCouncil's basic financial statements as listed in the table ofcontents. These financial statements .are the responsibility of theCouncil's management. My responsibility is to express an opinion ofthese basic financial statements based on my audit.

I conducted my audit in accordance with auditing standards generallyaccepted in the United States of America and the standards applicableto financial audits contained in Government Auditing Standards, issuedby the Comptroller General of the United States. Those standardsrequire that I plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidencesupporting the amounts and disclosures in the financial statements. Anaudit also includes assessing the accounting principles used andsignificant estimates made by management, as well as evaluating theoverall financial statement presentation. I believe that my auditprovided a reasonable basis for my opinion.

In my opinion, the basic financial statements referred to above presentfairly, in all material respects, the financial position of thegovernmental activities, each major fund, and the aggregate remainingfund information of the Pointe Coupee Council on Aging as of June 30,2006, and the respective changes in financial position for the yearthen ended in conformity with accounting principles generally acceptedin the United States of America.

As described in Note 1, the Pointe Coupee Council on Aging hasimplemented a new financial reporting model, as required by theprovisions of GASB Statement No. 34, Basic Financial Statements-andManagement's Discussion and Analvsis-For State and Local Governments,as of June 30, 2006.

The Management's discussion and analysis and budgetary comparisoninformation on pages 6 through 11 and 42 through 47, are not a requiredpart of the basis financial statements but are supplementaryinformation required by accounting principles generally accepted in theUnited States of America. I have applied certain limited procedures,which consisted principally of inquires of management regarding themethods of measurement and presentation of the supplementaryinformation. However, I did not audit the information and express noopinion on it.

My audit was conducted for the purpose of forming an opinion on thefinancial statements that collectively comprise the Pointe CoupeeCouncil On Aging, Inc. basic financial statements. The combining andindividual nonmajor fund financial statements, schedules and schedule ofexpenditures of federal awards listed in the Table of Contents arepresented for purposes of additional analysis as required by U.S.Office of Management and Budget Circular A-133, Audits of States, LocalGovernments, and Non-Profit Organizations, and is not a required part ofthe basic financial statements. The combining and individual nonmajorfund financial statements have been subjected to the auditing proceduresapplied in the audit of the basic financial statements and, in myopinion, are fairly stated in all material respects in relation to thefinancial statements taken as a whole.

In accordance with Government Auditing Standards, I have also issued areport dated August 24, 2006, on our consideration of Pointe CoupeeCouncil on Aging's internal control over financial reporting and ourtests of its compliance with laws, regulations, contracts and grants.That report is an integral part of an audit performed in accordance withGovernmental Auditing Standards and should be read in conjunction withthis report in considering the results of my audit.

MANAGEMENT'S DISCUSSION AND ANALYSIS

Pointe Coupee Council on Aging, Inc.

The "Management's Discussion and Analysis" of the Pointe Coupee Council onAging, Inc.'s (the Council) financial performance presents a narrative overview andanalysis of the Council's financial activities for the year ended June 30, 2006. Thisreport highlights the current year's activities, resulting changes, and relevant facts.Please read this report in conjunction with basic financial statements, which followthis section.

FINANCIAL HIGHLIGHTS (see statements on pages 13 and 14)

The Council's assets exceeded its liabilities at the close of fiscal year 2006 by$273,472 (net assets) which represents a 12% increase from last year.

Cash was $228,662 at June 30, 2006 compared to $194,145 at June 30, 2005. Thisis an increase of $34,517 or 18% increase.

The Council's revenue increased $32,248 or 6% primarily due to the Step programcontract and additional ftmding from Capital Area Agency on Aging.

The Council's expenditures increased $17,205 or 4% primarily due to the vehiclefiiel and vehicle maintenance.

As a result of subtracting total expenditures from total revenue, the Council's netassets increased by $22,144 this fiscal year.

Net capital assets decreased by $11,737. This decrease was mainly due todepreciation expense.

The Council did not have any funds with deficit fund balances.

Fund balance at year-end for the Council was $284,675. (see page 16) This balanceincludes a prepaid for a vehicle of $6,692, which was paid in Fy06, but the vehiclewas received in Fy07.

This discussion and analysis is intended to serve as an overview to the Council'sbasic financial statements. The Council's annual report consists of five parts; (1)management's discussion and analysis (this section) (2) basic financial statements(3) required supplementary information, and (4) the optional section that presentscombining statements for non-major governmental funds and other schedules bycertified public accountants and management.The basic financial statements included two kinds of statements that presentdifferent views of the Council:

Government-wide Financial Statements

The government-wide financial statements (see pages 13 and 14) are designed toprovide readers with a broad overview of the Council's finances, in a mannersimilar to a private sector business. The statement of net assets presentsinformation on all of the Council's assets and liabilities, with the differencebetween the two reports as net assets. Over time, increases or decreases in netassets may serve as a useful indicator of whether the financial position of theCouncil is improving or deteriorating. The statement of activities presentsinformation showing how the Council's net assets change during each fiscal year(revenues less expenditures). All changes in net assets are reported as soon as thefinancial transaction occurs regardless of the timing of the related cash flows.Thus, revenues and expenditures are reported in this statement this fiscal yeareven though the resulting cash flow is in future fiscal years. The governmentalactivity of the Council is health and welfare which is comprised of variousprograms that include supportive services, nutritional services, utility assistance,disease prevention and caregiver support.

Fund Financial Statements

A fimd is a grouping of related accounts that is used to maintain control overresources that have been segregated for specific activities or objectives. All of thefimds of the Council are governmental funds.

Governmental Funds

Governmental funds are used to account for essentially the same functions reportedas governmental activities in the government-wide financial statements.However, unlike the government-wide financial statements, governmental fimdfinancial statements focus on current year inflows and outflows of cash, as well ason balances of spend able resources available at the end of the fiscal year. Both thegovernmental fund balance sheet and the governmental fund statement of revenues,expenditures, and changes in fund balances provide a reconciliation to help withcomparison between governmental funds and governmental activities. (Pages 16 to18)The Council has presented the General Fund, Title IE B - Supportive Services Fund,Title III C-l - Congregate Meals Fund, Transportation Fund, PCOA Fund andParish Health District Fund as major funds. (Pages 16 to 18) All non-majorgovernmental funds are presented in one column, titled "Total Non-Major Funds".Combining financial statements of the non-major funds can be found in theCombining Fund Statements that follow the basic financial statements.(Page 49)

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding ofthe data provided in the government-wide and fund financial statements. The notesto the financial statements can be found on Page 20 of ftis report.

Other Information

In addition to the basic financial statements and accompanying notes, this reportalso presents certain required supplementary information that further explains andsupports the information in the financial statements. The Governmental AccountingStandards Board (GASB) Statement No.34 requires budgetary comparisonschedules for the General Fund and each major Special Revenue Fund that has alegally adopted budget (Pages 42 to 47). In addition to these required elements, theCouncil has a section of supplementary information. The Governor's Office ofElderly Affairs (GOEA) has required the Council to present combining statementsthat provide details about our non-major governmental funds and details aboutcapital assets and the changes in capital assets. This information will be used by

GOEA to verify the accuracy of information submitted to them during the year andto help monitor certain compliance requirements set forth in the grants that it haswith the Council (Pages 49 and 51).

The Office of Management and Budget (OMB) through its Circular A-133 requiresa Schedule of Expenditures of Federal Awards. This schedule will present requiredinformation about the Council's federally funded programs in a manner that canfacilitate financial and compliance analysis by the agencies that have grantedfederal money (Page 53).

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net assets serve as a usefiil indicator of the Council's financialposition. As of June 30, 2006, assets exceeded liabilities by $273,472. A largeportion of the Council's net assets (84%) reflects its cash position. The Council hasa strong cash position.

Special Revenue Fund Budgetary Highlights

The budget was amended one time during the year. The primary reasons foramending the budget were to comply with the Council's grants for GOEA due tounanticipated budget cuts and changes in expenditures. Amendment was approvedby The Board of Directors on May 11, 2006.

During the year, actual expenditures differed from budgetary estimates. Requiredsupplementary information budgetary comparison schedules were prepared for theGeneral Fund and each major Special Revenue Fund (Pages 42 to 47).

CAPITAL ASSETS

The Council's investment in capital assets for its governmental activities as of June30, 2006, amounts to $22,458 (net accumulated depreciated). This investment incapital assets includes office furniture, fixtures, vehicles, machinery and equipment(see table below).

2006 2005Office furniture, fixturesand equipment $ 7,906 12,648

Vehicles 128,318 149.417

Sub Total 136,224 162,065

Less depreciation (113,766) (127,870)

Totals $ 22,458 34,195

Additional information on the Council's capital assets can be found on Page 35.

ECONOMIC FACTORS AND NEXT YEAR'S BUDGET AND RATES

The Council receives most of its funding for federal and state agencies and localtaxes. Because of this, the source of income for the Council is consistent.However, some of the Council's grants and contracts are contingent upon the levelof service provided by the Council, and therefore, those revenues are not fixed.There have been no significant changes to the funding levels or terms of the grantsand contracts. The Governor's Office of Elderly Affairs (GOEA) has approved theCouncil's budget for fiscal year 2006-2007. There are no plans to add anysignificant programs for next fiscal year.

The Executive Director and Board of Directors considered the following factors andindicators when setting next year's budget, rates, and fees. These factors andindicators include:

* Actual expenditures from previous fiscal year in relation to expectedneeds in the current year.

* Consideration of funding to be received from GOEA.* Interest revenues have been budgeted with no anticipation of an

increase in interest rates.* Salaries and benefits are based on the number of employees needed to

perform necessary services and the related benefits.* Travel rates in accordance with state travel regulations.* Services the Council will provide along with estimated service cost.* Estimate operating supplies needed to perform necessary services.* Detail plan of equipment needed to be purchased.* Vehicle insurance based on quotes and contracts.

REQUESTS FOR INFORMATION

This financial report is designed to provide a general overview of the Council'sfinances for all interested in the Council's finances.Questions concerning any of the information provided in this report or request foradditional financial information should be addressed to:

Board of DirectorsPointe Coupee Council on Aging, Inc.P.O. Box 110New Roads, Louisiana 70760Phone (225)638-4402Becky Bergeron

11

GOVERNMENT WIDE FINANCIAL STATEMENTS

12

GOVERNMENT WIDE STATEMENT OF NET ASSETS

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUSIANA

JUNE 30, 2006

GOVERNMETALACTIVITIES

ASSETS:Cash $228,662Grants Receivable 44,213Accounts Receivable 25Prepaid Expenditures 12,059Capital assets, net of accumulated depreciation 22,458

Total Assets $307,417

The accompanying notes are an integral part of this statement.

13

LIABILITIES AND FUND BALANCES:

LIABILITIES:Accounts Payable $284Deferred Revenue 0Compensated Absences 33,661

Total Liabilities $33,945

NET ASSETS:Invested in Capital Assets, net of debt $22,458Restricted for:Utilities 8,069Parish Health District 6,692Special Projects 10,381Medicaid Applications 5,978Fund Raiser 30,832

Unreserved-Undesignated 189.062Total Net Assets $273,472

GOVERNMENT WIDE STATEMENT OF ACTIVITIES

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUSIANAFor the Year Ended June 30, 2006

Governmental ActivitiesHEALTH, WELFARE & SOCIAL SERVICESSUPPORT SERVICES

Personal CareHomemakeerInformation and AssistanceOtherTransportationRecreationNURITION SERVICESCongregate MealsHome Delivered Meals

Utility AssistanceDisease PreventionNational Care Giver Support

AdministriationTotal Governmental Activites

Program Revenues

Operating

Charges for Grants and Capital Grants &

Expenses Services Contributions Contributions

$37,207 $0 $38,258 $029,746 0 31,186 02,416 0 2,416 06,422 0 8,256 0

236,465 7,160 239,690 05,401 0 10,212 0

94,850 0 99,199 040,116 0 40,116 0

5,844 0 7,604 02,322 0 2,322 05,024 0 5,024 0

2,299 0 5,000 1,200468,112 7,160 489,283 1,200

497,643General Revenues:

Grants and contributions not restrictedInvestment earningsOther general revenues

Special-Sale of Fixed Assets

Total general revenues and transfers

INCREASE IN NET ASSETS

Net assets-beginning

Net assets-ending

Net (Expenses)

Revenues and

Increases(Decreases) in

Net Assets

GovernmentalActivities

1,0511,440

01,834

10,3854,811

4,3490

1,760000

3,901

29,531

01,043

0

0

1,043

30,574

242,898

273,472


14

FUND FINANCIAL STATEMENTS

15

BALANCE SHEET

ASSETS:CashGrants ReceivableAccounts ReceivablePrepaid ExpendituresDue From Other Funds

Total Assets

LIABILITIES AND FUND BALANCES:

LIABILITIES:

Accounts Payable

Deferred Revenue

Due To General Fund

Total Liabilities

FUND BALANCES:

Reserved For:

Utilities

Special Projects

Medicaid Applications

Fund Raiser

Vehicle Match

U n rese rved-U n des ig n ated

Total Fund Balance

Total Liabilities and Fund Balances

GOVERNMENTAL FUNDS

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANA

JUNE 30, 2006

GENERAL

FUND

$184,7740

251,229

36,979

223,007

$284

0

0

284

0

0

0

0

0

222,723

222,723

223,007

PCOA

$00000

0

$0

0

0

0

0

0

0

0

0

0

0

0

TRANS-

PORTATION

$013,705

02,761

0

16,466

$0

0

16,466

16,466

0

0

0

0

0

0

0

16,466

TITLE

1MB

$013,974

0503

0

14,477

$0

0

14,477

14,477

0

0

0

0

0

0

0

14,477

TITLE

IIIC1

$05,723

0313

0

6,036

$0

0

6,036

6,036

0

0

0

0

0

0

0

6,036

PARISH

HEALTH

DISTRICT

$1,1095,583

000

6,692

$0

0

0

0

0

0

0

0

6,692

0

6,692

6,692

NON

MAJOR

FUNDS

$42,7795,228

07,253

0

55,260

$0

0

0

0

8,069

10,381

5,978

30,832

0

0

55,260

55,260

TOTAL

$228,66244,213

2512,05936,979

321,938

$284

0

36,979

37,263

8,069

10,381

5,978

30,832

6,692

222,723

284,675

321,938


16

RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCETO THE GOVERNMENT-WIDE FINANCIAL STATEMENT OF NET ASSETS

POINTS COUPEE COUNCIL ON AGING, INC.NEW ROAD, LOUISIANAJUNE 30, 2006

Amounts reported for governmental activities in theStatement of Net Assets are different because:

Total Governmental Fund Balance $284,675

Capital assets used in governmental activities arenot financial resources and therefore are notreported in the funds 22,458

Some expense reported in the statement of activitiessuch as compensated absences, do not require theuse of current financial resources and thereforeare not reported as expenditures in government funds:Compensated Absences (33,661)

Net Assets of Governmental Activities 273,472

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT.

17

STATEMENT OF REVENUES. EXPENDITURES. AND CHANGES IN FUND BALANCESGOVERNMENTAL FUNDS

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUSIANAYEAR ENDED JUNE 30, 2006

REVENUEINTERGOVERMENTALGOVERNOR OFFICE OF ELDERLY AFFAIRS

CAPITAL AREA AGENCY ON AGING

DEPARTMENT HEALTH & HOSPITALS

DEPARTMENT OF TRANSPORTATION

POINTE COUPEE HEALTH SERVICE DISTRICT

OFFICE OF FAMILY SUPPORT

POINTE COUPEE POLICE JURY

PUBLIC SUPPORTEvacuee Services

Public FaresOtherOTHER INCOMEINVESTMENT INCOMEINKIND CONTRIBUTIONS

EXPENDITURES

GENERAL

FUND

$0

0

0

0

0

0

0

0

5,0000

1,0430

6,043

PCOA

$21,048000000

00000

21,048

TRANS-

PORTTATION

$0

0

24,175

94,9000

32,3400

7,1604,636

7290

14,055

177,995

TITLE

1MB

$0

58,63000000

5,0412,492

000

1,897

68,060

TITLE

IIIC1

$0

39,45500000

14,2480000

23,310

77,013

PARISH

HEALTH

DISTRICT

$0

0

0

0

66,99600

000000

66,996

NON-

MAJOR

FUNDS

$22,186

26,054112

000

4,900

1,0100

26,22700

1,042

81,531

TOTAL

$43,234124,13924,28794,90066,99632,3404,900

20,2999,652

35,863729

1,04340,304

498,686

HEALTH & WELFARE & SOCIAL SERVICES

CURRENT

SALARIES

FRINGE

TRAVEL

OPERATING SERVICES

OPERATING SUPPLIES

OTHER

CAPITAL OUTLAY

UTILITIY ASSISTANCE

IN-KIND EXPENDITURES

EXCESS OF REVENUE OVER

(UNDER) EXPENDITURES

OTHER FINANCIAL SOURCES (USES)

TRANSFERS INTRANSFER OUT

EXCESS OF REVENUES AND OTHER

SOURCES OVER (UNDER)

EXPENDITURES AND OTHER USES

FUND BALANCE, BEGINNING

FUND BALANCE, END

0

0

245

0

925

672

8

0

0

1,850

4,193

27,863

0

27,863

32,056

190,667

222,723

0

0

0

0

0

0

0

0

0

0

21,048

0

(21,048)

(21,048)

0

0

0

91,289

18,387

95

53,279

39,252

3,007

0

0

14,055

219,364

(41,369)

69,232

(27,863)

41,369

0

0

0

50,606

6,923

9,647

4,271

1,213

1,234

0

0

1,897

75,791

(7,731)

44,533

(36,802)

7,731

0

0

0

43,279

6,913

2,118

2,424

1,835

676

0

0

23,310

80,555

(3,542)

3,542

0

3,542

0

0

0

0

0

0

0

0

0

0

0

0

0

66,996

0

(60,304)

(60,304)

6,692

0

6,692

28,060

5,423

596

22,625

3,491

5,833

2,693

5,932

1,042

75,695

5,836

30,247

(29,400)

847

6,683

48,577

55,260

213,234

37,646

12,701

82,599

46,716

11,422

2,701

5,932

40,304

453,255

45,431

175,417

(175,417)

0

45,431

190,667

284,675

The accompanying notes are and integral part of this statement18

RECONCILIATION OF STATEMENT OF REVENUES, EXPENDITURES AND CHANGES INFUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES

POINTS COUPEE COUNCIL ON AGING, INC.NEW ROADS, LOUISIANA

FOR THE YEAR ENDED JUNE 30, 2006

Amounts reported for governmental activities in thestatement of activities are different because:

Net Change in Fund Balances-Total Governmental Funds $45,431

Governmental funds report capital outlays as expenditures.However, in the statement of activities, the cost ofthose assets is allocated over their estimated usefullives as depreciation expense. This is the amount bywhich capital outlays exceeded depreciation in thecurrent period. (11,737)

Repayment of notes payable is an expenditure in thegovernmental funds, but the repayment reduces long-term liabilities in this statement of net assets. -0-

Some expense reported in the statement of activitiessuch as compensated absences, do not require the useof current financial resources and therefore are notreported as expenditures in governmental funds. (3,120)

Changes in Net Assets of Governmental Activities 30,574

THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THIS STATEMENT.

19


NOTES TO FINANCIAL STATEMENTSJUNE 30, 2006

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Purpose of the Council on Aging;The purpose of the Council is to collect facts and statistics andmake special studies of conditions pertaining to the employment,financial status, recreation, social adjustment, mental andphysical health or other conditions affecting the welfare of theaging people of Pointe Coupee Parish; to keep abreast of thelatest developments in these fields of activity throughoutLouisiana and the United States; to interpret its findings to thecitizens of the parish; to provide for a mutual exchange of ideasand information on the parish and the state level; to conductpublic meetings; to make recommendations for needed improvementsand additional resources; to promote the welfare of aging peoplewhen requested to do so; to coordinate and monitor services ofother local agencies serving the aging people of the parish; andto assist and cooperate with the Governor's Office of ElderlyAffairs (GOEA) and other departments of state and localgovernment serving the elderly; and to recommendations relevantto the planning and delivery of services to the elderly of theparish. Specific services provided by the Council includecongregate and home delivered meals, nutritional education,information and referral services, legal assistance, homemakerservices, discount services, material aid, outreach, operatingsenior centers, and transportation.

b. Reporting Entity;

In 1964, the State of Louisiana passed Act 456 which authorizedthe charter of voluntary councils on aging for the welfare of theaging people of their respective parishes. However, before theCouncil on aging can begin operations in a specific parish, itsapplication for a charters must receive approval from theGovernor's Office of Elderly Affairs pursuant to LA R.S. 46:1602.The function of each council on aging in Louisiana must complywith the objectives of state laws and each council is governed bythe polices and regulations established by GOEA.

The Pointe Coupee Council on Aging (Council) is legally separate,non-profit, quasi-public corporation. It received its charterand began operations on June 24, 1975.

A board of directors, consisting of thirteen voluntary memberswho serve three-year terms, governs the Council. The board ofdirectors is comprised of, but not limited to, representatives ofthe Parish's elderly population, general public, privatebusinesses, and elected public officials. Board members areelected annually in the following manner:

20

POINTS COUPEE COUNCIL ON AGING, INC.NEW ROADSiL LOUISIANA


Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

5 members are selected from the general public to representall sections of the parish and are drawn from, but notlimited to, civic organizations, governmental agencies,business, and religious groups.

5 representatives, who must reside in the districts that theyrepresent, are selected from each of the 5 Parish Councildistricts, to represent the elderly population in theirrespective areas.

2 members shall be selected from other provider agencieswhich serve the elderly to represent the private sector.

1 member shall be an elected official, to represent thegeneral public.

Membership in the Council is open at all times, withoutrestriction, to all residents of Pointe Coupee Parish who havereached the age of majority and who express an interest in theCouncil and wish to contribute to or share in its programs.Membership fees are not charged.

Based on the criteria set forth in GASB Statement 14, the Councilis not a component unit of another primary government nor does ithave any component units which are related to it. In addition,based on criteria set forth in GASB Codification Section 2100,the Council has presented its financial statements as a primarygovernment, because it is a special-purpose government that has aseparately elected governing body, is legally separate, and isfiscally independent of other state and local governments. Asused in GASB Statement 14, the term fiscally independent meansthat the Council may, without approval or consent of anothergovernment entity, determine or modify its.own budget, levy itsown taxes or set rates or changes, and issue bonded debt. Aspreviously mentioned, GOEA establishes the policies andregulations that all Council must follow. Included in itspolicies is a provision that the Council's budget be approved byGOEA. However, this approval process is part of GOEA's generaloversight responsibility for the Council and is more ministerialor compliance oriented than substantive.

Accordingly, the Council is viewed as being fiscally independentfor purposes of applying the reporting entity criteria of GASBStatement 14.

21

POINTE COUPEE COUNCIL ON AGING, INC.NEW ROADS. LOUISIANA



c. Presentation of Statements:

The Council's statements are prepared in accordance withaccounting principles generally accepted (GAAP) in the UnitedStates of America as applicable to governmental entities. TheGovernmental Accounting Standards Board (GASB) is responsible forestablishing GAAP for state and local governments through itspronouncements (Statements and Interpretations). Governments arealso required to follow the pronouncements of the FinancialAccounting Standard Board (FASB) issued through November 30, 1989(when applicable) that do not conflict with or contradict GASBpronouncements.

The Council has the option to apply FASB pronouncements issuedafter that date to its business-type activities and enterprisefunds; however, the Council has chosen not to do so because itdoes not have any business-type activities or enterprise funds.The more significant accounting policies established in GAAP andused by the Council are discussed below.

In June 1999, the Governmental Accounting Standards Board (GASB)unanimously approved Statement No. 34, Basic FinancialStatements-and Management's Discussion and Analysis-for State andLocal Governments. Certain of the significant changes in thestatement include the following:

For the first time the financial statements include:

A Management Discussion and Analysis (MD&A) sectionproviding an analysis of the Council's overall financialposition and results of operations.

Governmental-Wide Financial statements prepared usingfull accrual accounting for all of the Council'sactivities.

A change in the fund financial statements to focus on themajor funds.

These and other changes are reflected in the accompanyingfinancial statements (including notes to financial statements) .The Council has elected to implement the general provisions ofthe GASB Statement 34 in the current year.

22




d. Basic Financial Statements - Government-Wide Statements

The Council's basic financial statements include both Government -Wide (reporting the Council as a whole) and fund financialstatements (reporting the Council's major funds). Both theGovernment-Wide and Fund Financial Statements categorize primaryactivities as either governmental or business type. TheCouncil's functions and programs have been classified asgovernmental activities. The Council does not have any business-type activities, fiduciary funds, or any component units that arefiduciary in nature. Accordingly, the Government-Wide financialstatements do not include any of these activities or funds.

In the Government-Wide Statement of Net Assets, the governmentaltype activities column (a) is presented on a consolidated basisby column, (b) and is reported on a full accrual, economicresource basis, which recognizes all long-term assets andreceivables as well as long-term debt and obligations. TheCouncil's net assets are reported in three parts - invested incapital assets, net of related debt; restricted net assets; andunrestricted net assets. Invested in capital assets, net ofrelated debt consists of capital assets including restrictedcapital assets, net of accumulated depreciation and reduced bythe outstanding balances of any bonds, mortgages, notes, or otherborrowings that are attributable to the acquisition,construction, or improvement of those capital assets. Restrictednet assets consist of net assets with constraints placed on theuse either by (1) external groups such as creditors, grantors,contributors, or laws or regulations of other governments; or (2)law through constitutional provisions or enabling legislation.Unrestricted net assets include all other net assets that do notmeet the definition of "restricted" of "invested in capitalassets, net of related debt."

The Council's policy is to use restricted resources first tofinance its activities.

23

POINTS COUPEE COUNCIL ON AGING, INC.NEW ROADS. LOUISIANA

NOTES TO FINANCIAL STATEMENTSJUNE 30. 2006


The Government-Wide Statement of Activities reports both thegross net cost of each of the Council's functions and significantprograms. Many functions and programs are supported by generalgovernment revenues like intergovernmental revenues, andunrestricted investment income, particularly if the function orprogram has a net cost. The Statement of Activities begins bypresenting gross direct and indirect expenses that includedepreciation, and then reduces the expenses by related programrevenues, such as operating and capital grants and contributions,to derive the net cost of each function or program. Programrevenues must be directly associated with the function or programto be used directly offset its cost. Operating grants includeoperating-specific and discretionary (either operating orcapital) grants, while the capital grants column reflectscapital-specific grants. The Council did not receive anycapital-specific grants this year.

The Council allocates its indirect costs among various functionsan programs in accordance with Circular A-87. The Statement ofActivities shows this allocation in a separate column labeled"indirect cost allocation." In addition, GOEA provided grantfunds to help the Council pay for a portion of its indirectcosts. As a result, only the indirect costs in excess of theGOEA funds are allocated to the Council's other functions andprograms.

The Government-Wide Statements focus upon the Council's abilityto sustain operations and the change in its net assets resultingfrom the current year's activities.

e. Basic Financial Statements - Fund Financial Statements

The financial transactions of the Council are reported inindividual funds in the Fund Financial Statements. Theoperations of each fund are accounted for with a separate set ofself-balancing accounts that comprise its assets, liabilities,equity, revenues and expenditures. Resources are allocated toand accounted for in individual funds based upon the purpose forwhich they are to be spent and the means by which spendingactivities are controlled. The various funds are reported bygeneric classification within the financial statements.

24


NOTES TO FINANCIAL STATEMENTSJUNE 30. 2006

Note 1. SUMMARY OF SIGNIFICAJSTT ACCOUNTING POLICIES (Continued)

The Council uses governmental fund types. The focus of thegovernmental funds' measurement (in the fund statements) is ondetermination of financial position and changes in financialposition (sources, uses, and balances of financial resources)rather than on net income. An additional emphasis is placed onmajor funds within the governmental fund types. A fund isconsidered major if it is the primary operating fund of theCouncil or if its total assets, liabilities, revenues orexpenditures are at least 10% of the corresponding total for allfunds of that category or type.

Governmental fund equity is called the fund balance. Fundbalance is further classified as reserved and unreserved, withunreserved being further split into designated and undesignated.Reserved means that the fund balance is not available forexpenditure because resources have already been expended (but notconsumed), or a legally restriction has been placed on certainassets that makes them only available to meet future obligations.Designated fund balances result when management tentatively setsaside or earmarks certain resources to expend in a designatedmanner. In contrast to reserved fund balances, designatedamounts can be changed at the discretion of management.

The following is a description of the governmental funds of theCouncil:

General Fund is the general operating fund of the Council. Itis used to account for all financial resources except thoserequired to be accounted for in another fund.

Special Revenue Funds are used to account for the proceeds ofspecific revenue sources that are legally restricted toexpenditures for specific purposes. A large percentage of theCouncil's special revenue funds are provided by Capital Area onAging. The Title III funds. These funds are provided by theUnited States Department of Health and Human Services-Administration on Aging to the Capital Area on Aging, which inturn "passes through" the funds to the Council.

The Council has established several special revenue funds. Thefollowing is a brief description of each special revenue fund'spurpose:

25




MAJOR SPECIAL REVENUE FUNDS

Title III B Fund is used to account for funds, which are used toprovide various units of supportive social services to theelderly. GOEA has established the criteria for defining aqualifying unit of service for each of Title III program.Specific supportive social services, along with the number ofunits provided during the fiscal year, are as follows:

UNITS

Homemaker 1,659Information and Assistance 398Outreach 56Personal Care 2,009Transportation For People Age 60 15,449Material Aid 5,073Recreation 17,827Utility Assistance 60

The Title III-C-1 Fund is used to account for funds which areused to provide nutritional, congregate meals to the elderly atmeal sites located in New Roads and surrounding areas.During the fiscal year the Council served about 19,970 congregatemeals t'o people eligible to participate in this program. Inaddition to the meals serviced, the Council also provided 48units of nutritional education to eligible participants.

Parish/Health District is used to account for the funds providedby the Pointe Coupee Parish Police Jury and/or Pointe CoupeeHealth Services District Number 1 for elderly recreation andmeals to the home bound.

NON-MAJOR SPECIAL REVENUE FUNDS

The Title III-C-2 Home Delivered Meals Funds are used to accountfor funds which provide nutritional meals to home-bound olderpersons. Using Title III C-2 funds the Council served about24,713 meals during the year to people eligible to participate inthis program. The Council also provided 121 units of nutritionaleducation to eligible participants.

26




The Title III-D Funds are used to account for funds used fordisease prevention and health promotion activities. During theyear 4,017 units of wellness service and 108 medicationmanagement were provided to eligible participants in thisprogram.

Title III-E Funds are used to account for funds used forCare Giver Program such as; (1) Information assessment and(2) public education. The Council provided 37 units ofinformation and assistance to eligible participants.

Audit Fund is used to account for funds received from theGovernor's Office of Elderly Affairs that are restricted to useas a supplement to pay the cost of having an annual audit of theCouncil's financial statements.

Senior Center Fund is used to account for the administration ofSenior Center program funds appropriated by the LouisianaLegislature to the GOEA, which "passes through11 the funds to theCouncil. This purpose of this program is to provide a communityservice center at which elderly people can receive supportivesocial services and participate in activities which foster theirindependence, enhance their dignity, and encourage theirinvolvement in and with the community. The senior center forPointe Coupee Parish is located in New Roads. Senior Centerfunds can be used at management's discretion to support any ofthe Council's programs that benefit the elderly. Accordingly,during the fiscal year, the Senior Center Fund transferred all ofits grant revenue to Title III B Fund to subsidize that program'scost of providing supportive services to the elderly persons whouse the senior center.

The Supplemental Senior Center Fund was established to accountfor funds that were appropriated by the Louisiana Legislaturefor the various councils on aging throughout Louisiana tosupplement each Council's primary grant for senior centeroperations and activities. The Pointe Coupee Council on Aging,Inc. was one of the parish councils to receive a supplementalgrant of $3,825. The money received by this fund during the yearwas transferred to the Title III B Fund to supplement thesupportive services provided by this fund. GOEA provided thesefunds to the Council.

United Way is used to account for funds received from the CapitalArea United Way to be used for Title III B personal care.

27




Capital Outlay Fund is used to account for capital outlay grants,donations and expenditure of capital outlay for the Council.

The Utility Assistance Fund is used to account for theadministration of utility assistance programs that are sponsoredby local utility companies. The companies collect contributionsfrom service customers and remit the funds to the Parish Councilson the aging to provide assistance to the elderly for the paymentof utility bills. The Council receives its Project Caredonations directly from Capital Area Agency on Aging. During theyear, the Council was able to provide 47 units of service withthese funds.

Special Prcnects is used to account for the funds provided bydonations for utility assistance and other projects.

Adopt An Elderly is used to account for the funds provided bythe various donations to provide meals to the elderly in PointeCoupee.

Medicaid Applications is used to account for the funds providedby the Department of Health and Hospitals and is used tosupplement other programs as needed.

Fund Raiser is used to account for the funds provided bydonations and is used to supplement other programs as needed.

f. Measurement Focus and Basis of Accounting

Basis of accounting refers to when revenues orexpenditures/expenses are recognized in the accounts and reportedin the financial statements. It relates to the timing of themeasurements made regardless of the measurement focus applied.

1. Accrual Basis - Government-Wide Financial Statements (GWFS)The Statement of Net Assets and the Statement of Activitiesdisplay information about the Council as a whole. Both ofthese statements have been prepared using the economicmeasurement focus and the accrual basis of accounting.Revenues, expenses, gains, losses, assets and liabilitiesresulting from exchange or exchange-like transactions are .recognized when the exchange takes place.

28




2. Modified Accrual Basis - Fund Financial Statements (FFS)The accounting and financial reporting treatment applied to afund is determined by its measurement focus. Governmentalfunds types use the flow of current financial resourcesmeasurement focus and the modified accrual basis of accounting.Under the modified accrual basis of accounting, revenues arerecorded when susceptible to accrual (i.e. when they becomeboth measurable and available). "Measurable" means the amountof the transaction can be determined and available meanscollectible within the current period or soon enough thereafterto pay liabilities of the current period. The Councilconsiders all revenues "available" if they are collected within60 days after year end. Expenditures are generally recordedunder modified accrual basis of accounting when the relatedliability in incurred. The exceptions to this general rule arethat (1) unmatured principal and interest on long-term debt, ifany, are recorded when due, and (2) claims and judgements andcompensated absences are recorded as expenditures when paidexpendable available financial resource resources.

g. Interfund Activities

Interfund activity is reported as either loans or transfers.Loans between funds are reported as interfund receivables andpayables as appropriate and are subject to elimination uponconsolidation. All other interfund transactions are treated astransfers. Transfers represent a permanent re-allocation ofresources between funds. Transfers between funds are nettedagainst one another as part of the reconciliation of the changein fund balances in the fund financial statements to the changein net assets in the Government-wide Financial Statements.

h. Cash and Cash Equivalents

Cash includes amounts in demand deposits, interest-bearing demanddeposits, and petty cash. Cash equivalent include amounts intime deposits and those investments with original maturities of90 days or less. Cash and cash equivalents are reported at theircarrying amounts that equal their fair values.

29




i. Prepaid Expenses/ExpendituresPrepaid expenses include amounts paid for services in advance.These are shown as assets on the Government-Wide Statement of NetAssets. In the Fund Financial Statements, the Council haselected not to include amounts paid for future services asexpenditures until those services are consumed to comply with thecost reimbursement terms of grant agreements. As a result, theprepaid expenditures are shown as an asset on the balance sheetof the Fund Financial Statements until they are consumed. Inaddition, a corresponding amount of the fund balance of theGeneral Fund has been reserved to reflect the amount of fundbalance not currently available for expenditure.

j• Capital AssetsThe accounting and reporting treatment applied to the capitalassets associated with a fund are determined by its measurementfocus. Capital assets are long-lived assets that have beenpurchased or acquired with an original cost of at lease $1000 andthat have an estimated useful life of greater than one year.When purchased or acquired, these assets are recorded as capitalassets in the Government-Wide Statement of Net Assets. Incontrast, in the Fund Financial Statements, capital assets arerecorded as expenditures of the fund that provide the resourcesto acquire the assets. If the asset purchased, it is recorded inthe books at it cost. If the asset was donated, when it isrecorded at its estimated fair market value at the date ofdonation.

For capital assets recorded in the Government-Wide FinancialStatements, depreciation is computed and recorded using thestraight-line method for the asset's estimated useful life. Theestimated useful lives of the various classes of despicablecapital assets are as follows:

Building Improvements 20 YearsEquipment 5-7 YearsVehicles 5 YearsComputers 3 Years

Salvage values have not been established by management whencalculating how much of an asset's cost needs to be depreciatedexcept for vehicles. For that category of capital asset,management has used 10% of the vehicle's initial cost as asalvage value estimate.

Depreciation is not computed or recorded on capital assets forpurposes of the Fund Financial Statements.

30




k. Unpaid Compensated Absences;

The Council's policies for vacation time permit employees toaccumulate earned but unused vacation leave. Accordingly, aliability for the unpaid vacation leave has been recorded in theGovernment-Wide Statements. Management has estimated the currentand long-term portions of this liability based on historicaltrends. The amount accrued as the compensated absence liabilitywas determined using the number of vested vacation hours for eachemployee multiplied by the employee's wage rate in effect at theend of the year. An amount is added to this total for socialsecurity and medicare taxes. In contrast, the governmental fundsin the Fund Financial Statements report only compensated absenceliabilities that are payable from expendable available financialrecourse to the extent that the liabilities mature (or come duefor payment). Vacation leave does not come due for payment untilan employee makes a request to use it or terminates employmentwith the Council. Accordingly, no amounts have been accrued asfund liabilities as the year-end in the Fund FinancialStatements. The differences in the methods of accruingcompensated absences creates a reconciling item between the Fundand Government-Wide Financial Statement presentations.

The Council's sick leave policy does not provide for the vestingof sick leave thereby requiring the employee to be paid for anyunused leave upon termination of employment. Accordingly, noamounts have been accrued as unpaid compensated absence in theGovernment-Wide Financial Statements relative to sick leave.

1. Allocation of Indirect Expenses;

The Council reports all direct expenses by function and programsof functions in the Statement of Activities. Direct expenses arethose that are clearly identifiable with a function or program.Indirect expenses are recorded as direct expenses of theAdministration function. GOEA provides funds to partiallysubsidize the Council's Administration function. Theunsubsidized net cost of the Administration function is allocatedusing a formula that is based on primarily on the relationshipthe direct cost a program bears to the direct cost of allprograms. There are some programs that cannot absorb any directcost allocation according to their grant or contract limitations.

31




m. MANAGEMENT'S USE OF ESTIMATES

The preparation of financial statements in conformity withgenerally accepted accounting principles requires management tomake estimates and assumptions that affect certain reportedamounts and disclosures. Accordingly, actual results may differfrom those estimates.

n. Elimination and Reclassifications;

In the process of aggregating data for the Statement of NetAssets and the Statement of Activities, some amounts reported asinterfund activity and balances in the funds were eliminated orreclassified. Interfund receivables and payables were eliminatedto minimize the "grossing up" effect on assets and liabilitieswithin the governmental activities column.

o. Deferred Revenue;

The Council reports deferred revenues on its Statement of NetAssets and on the balance sheet of the Fund Financial Statements.Deferred Revenues arise when the Council receives resourcesbefore it has a legal claim to them, as when grant monies arereceived before the occurrence of qualifying expenditures. Insubsequent periods, when the Council has a legal claim to theresources, the liability for deferred revenue is removed from thecombined balance sheet and the revenue is recognized.

NOTE 2 - REVENUE RECOGNITION

Revenues are recorded in the Government-Wide Statements when theyare earned under the accrual basis of accounting.

Revenues are recorded in the Fund Financial Statements governmentalusing the modified accrual basis of accounting. In applying thesusceptible to accrual concept using this basis of accounting,intergovernmental grant revenues, program service fees, and interestincome are usually both measurable and available. However, thetiming and amounts of the receipts of public support andmiscellaneous revenues are often difficult to measure; thereforethey are recorded as revenue in the period received.

32



NOTE 3 - CASH

The Council maintains a consolidated bank account to deposit themoney it collects and to pay its bills. The consolidated bankaccount is available for use by all funds. The purpose of thisconsolidated account is to reduce administration costs and facilitatecash management. The consolidated account also allows those fundswith available cash balances to cover any negative cash balances inother funds at year end. At year end, the Council has cash and cashequivalent (book balances) totaling $228,662.

These deposits are stated at cost, which approximates market. Understate law, these deposits (or the resulting bank balances) must besecured by federal deposit insurance or the pledge of securitiesowned by the fiscal agent bank. The market value of the pledgedsecurities plus the federal deposit insurance must at all times equalthe amount on deposit with the fiscal agent. These securities areheld in the name of the pledging fiscal agent bank in a holding orcustodial bank that is mutually acceptable to both parties.

Custodial Credit Risk-Deposits. At year-end the bank balance was$253,084. Of the bank balances, $100,000 was covered by federaldepository insurance. $163,769 was collateralized with securitiesheld by the pledging financial institution's trust department oragent but not in the Council's name (GASB Category 3).

GASB Statement 3 categorizes deposits into three categories of creditrisk:

1. Insured by FDIC or collateralized with securities held by theCouncil or by its agent in the Council's name. (Category 1)

2. Uninsured but collateralized with securities held by thepledging financial institution trust department or agent in theCouncil's name. (Category 2)

3. Uninsured and uncollateralized; or collateralized withsecurities held by the pledging financial institution, or byits trust department or agent but not in the Council name; orcollateralized with no written or approved collateralagreement. (Category 3)

Even though the pledged securities are considered uncollateralized(Category 3) under the provisions of GASB Statement 3, Louisiana R.S.39:1229 imposes a statutory requirement on the custodial bank toadvertise and sell the pledge securities within 10 days of beingnotified by the library that the fiscal agent has failed to paydeposited funds upon demand.

33



NOTE 3 - CASH (Continued)

Interest Rate-Deposits. The Council's policy does not addressinterest rate risk.

Under state law, all bank deposits must be (1) secured by federaldeposit insurance or by the pledge of securities owned by the fiscalagent bank, or (2) invested exclusively in instruments backed by theU.S. government. The fair value of the pledged securities plus thefederal deposit insurance must always equal or exceed the amount ondeposit with the fiscal agent.

NOTE 4 - GOVERNMENT GRANTS AND CONTRACTS RECEIVABLE

Government grants and contracts receivable represent amounts owed tothe Council under a grant award or contract with a provider offederal, state, or local funds; such amounts being measurable andavailable as of year end.

Government grants and contracts receivable at year end consist ofreimbursements for expenses incurred under the following programs:

FUNDINGPROGRAM FUND AGENCY AMOUNT

Supp Soc Services TITLE III B CAAA $13,974Congregate Meals TITLE III C 1 CAAA 5,723Home Delivered Meal TITLE III C 2 CAAA 1,191Disease Prevention TITLE III D CAAA 391Care Giver TITLE III E CAAA 1,439Utility Assistance Utility CAAA 580Congregate Meals United Way CAAA 1,626Transportation Transportation D 0 T D 10,134Transportation Transportation D H H 975Transportation Transportation O F S 2,596Home Delivered Meal Parish/Health P C H S D 5,583

Total Government Grants and Contract Receivable 44,212

34



NOTE 5. CHANGES IN CAPITAL ASSETS

A summary of changes in general fixed assets follows:

BALANCE BALANCE7-1-05 ADDITIONS DECREASES 6-30-06

Governmental Activities:

EquipmentVehicle

Sub Total

AccumulatedEquipmentVehicle

Sub Total

$12,648149,417

162,065

Depreciation(12,648)(115,222)

(127,870)

$2,693-0-

2,693

(449)(13,981)

(14,430)

$7,43521,099

28,534

7,43521,099

28,534

$7,906128,318

136,224

(5,662)(108,104)

(113,766)

Net Capital Assets 34,195 (11/737) -0- 22,458

Depreciation was charged to governmental activities as follows:

Support Services: Administration $449Transportation 13.981

14,430

NOTE 6. BOARD OF DIRECTORS1 COMPENSATION

The Board of Directors is a voluntary board; therefore, nocompensation has been paid to any member. However, board members arereimbursed for out-of-town travel expenses incurred in accordancewith the Council's reimbursement policy.

NOTE 7. IN-KIND DONATIONS

The Council received $40,304 in in-kind contributions during the yearwhich have been valued at their estimated fair market value, andpresented in this report as revenue. Related expenditures, equal tothe in-kind revenues, have also been presented, thereby producing noeffect on net income (loss) in the governmental fund types.

The primary in-kind contributions consist of free rent and utilitiesfor a meal site.

35



NOTE 7. IN-KIND DONATIONS (Continued)

A summary of the in-kind contributions and their respective assignedvalues is a follows:

Office, Senior Center/meal site facilities & healthscreening sites are furnished to the Councilwithout charge. Utilities are also included. $15,190

Cell Phones 2,366Volunteer Meal Site Aides & Nursing Service 22,748

Total In-Kind Contributions 40,304

NOTE 8 - INCOME TAX STATUS

The Council, a not-for-profit corporation, is exempt from federal incometaxation under section 501, (C) (3) of the Internal Revenue Code of 1986and as an organization that is not a private foundation as defined inSection 509 (a) of the Code. It is also exempt from Louisiana incometax.

NOTE 9. LEASES

The Council has no capital leases but on October 15, 2002, it enteredinto an operating lease with Joseph Purpera to lease a building thathouses one of the Council's senior center in Morganza, Louisiana.The terms of this lease require monthly payments of $225 for two year.The lease term runs from October 15, 2005, to October 14, 2006.

The Council also renewed a leases on May 1, 2005, with Ewing's ofInnis to renew its lease for a building that houses one of theCouncil's senior center in Innis, Louisiana. The terms of thislease require monthly payments of $300 for one year. The lease term runsfrom May 1, 2005, to April 30, 2006.

The Council had a lease with Jason Ussery to lease a building thathouses one of the Council's senior center in Jarreau, Louisiana.The terms of this lease require monthly payments of $450 for two year.The lease term runs from July 1, 2004, to June 30, 2005. The Councilused it for four months for the year ended June 30, 2006.

Total rent expenditures/expense of $8,100, including amortization ofprepaid leases, have been included in these financial statements.

36



The minimum annual commitments under non-cancellable (except asprovided in Section 18 Non-appropriation) operating leasesare as follows:

June 30, 2007 $2,834June 30, 2008 2,834June 30, 2009 1,181

NOTE 10. JUDGEMENTS, CLAIMS AND SIMILAR CONTINGENCIES

There is no litigation pending against the Council as of year-end.The Council's management believes that any potential lawsuits wouldbe adequately covered by insurance or resolved without any materialimpact upon the Council's financial statements.

No claims were paid-out or litigation costs incurred during the yearended June 30, 2006.

NOTE #11. CONTINGENCIES-GRANT PROGRAMS

The Council participates in a number of state and federal grantprograms, which are governed by various rules and regulations. Costcharged to the respective grant programs are subject to audit by thegrantor agencies; Therefore, to the extent that the Council has notcomplied with the rules and regulations governing the grants, refundsof any money received and the collectibility of any relatedreceivable at year-end may be impaired. In management's opinion,there are no significant contingent liabilities relating tocompliance with the rules and regulations governing state and federalgrants; therefore, no provision has been recorded in the accompanyingfinancial statements for such contingencies. Audits of prior yearshave not resulted in any significant disallowed costs or refunds.Any costs that would be disallowed would be recognized in the periodagreed upon by the grantor agency and the Council.

NOTE 12 - ECONOMIC DEPENDENCY

The Council receives the majority of its revenue from funds providedthrough grants administered by the Louisiana Governor's Office ofElderly Affairs, Capital Area Agency on Aging. The grant amounts areappropriated each year by the federal and state governments. Ifsignificant budget cuts are made at the federal and/or state level,the amount of funds the Council receives could be reducedsignificantly and have an adverse impact on its operations.Management is not aware of any actions that will adversely affect theamount of funds the Council will receive in the next fiscal year.

37



NOTE 13 - RISK MANAGEMENT

The Council is exposed to various risks of loss related to torts; theftsof, damage to, and destruction of assets; errors and omissions; injuriesto employees; and natural disasters. The Council has purchased commercialinsurance to cover or reduce the risk of loss that might arise shouldone of these incidents occur. There have been no significant reductionsin coverage for the prior year. No settlements were made during the yearthat exceeded the Council's coverages.

The Council's management has not purchased commercial insurance or madeprovision to cover or reduce the risk of loss, as a result of businessinterruption and certain acts of God, like floods or earthquakes.

NOTE 14 - INTERFUND RECEIVABLES AND PAYABLES

Because the Council operates most of its programs under costreimbursement type grants, it has to pay for costs using its Generalfund money and then request reimbursement for the advanced costsunder the grant programs. Such advances create short-term interfundloans in the Fund Financial Statements. A summary of these interfundloans at year end, is as follows:

Due From Due ToOther Funds Other Funds

General Fund $36,979 $-0-Transportation -0- 16,466

Special RevenueTitle III B -0- 14,477Title III C 1 -0- 6,036

Total 36,979 36,979

38



NOTE 15 - INTERFUND TRANSFERS

Interfund transfers to and from are listed by fund for the fiscal year:

FUNDS TRANSFERRED INFUNDS

TRANSFERRED GENERAL TRANS- TITLE TITLE TITLE CAPITAL TOTALOUT LOCAL PORTATION IIIB IIIC1 IIIC2 OUTLAY OUT

General-Local $-0- $-0- $-0- $-0- $-0- $-0- $-0-PCOA -0- -0- 21,048 -0- $-0- -0- 21,048Transportation 27,863 -0- -0- -0 -0- -0- 27,863Title III B -0- 36,802 -0- -0- -0- -0- 36,802Senior Center -0- -0- 4,066 -0- -0- -0- 4,066Sr Cnt Supplement -0- -0- 3,825 -0- -0- -0- 3,825United Way -0- -0- 8,256 -0- -0- -0- 8,256Adopt An Elderly -0- -0- -0- -0- 13,253 -0- 13,253Parish/Health -0- 32,430 7,338 3,542 15,501 1,493 60,304

Total In 27,863 69,232 44,533 3,542 28,754 1,493 175,417

Transfers are used to (1) move revenue from the fund that statute orbudget requires to collect them to the fund that statute or budgetrequires to expand them, and to (2) use unrestricted revenuescollected in the General Fund to finance various programs accountedfor in other funds in accordance with budgetary authorizations.

These transfers were eliminated as a part of the consolidated processin preparing the Government-Wide Financial Statements.

NOTE 16 - RELATED PARTY TRANSACTIONS

There are no significant related party transactions during the year.

NOTE 17 - CHANGES IN GENERAL LONG-TERM DEBT

The following is a schedule of the changes in the long-termdebt:

BALANCE BALANCE7-1-05 ADDITIONS DELETIONS 6-30-06

Vacations Payable $30,541 $3,120 -0- $33,661

39

POINTS COUPEE COUNCIL ON AGING,NEW ROADS, LOUISIANA


INC.

NOTE 17 - FTA - PUBLIC TRANSPORTATION FOR NONURBANIZED AREAS-SECTION 5311

The Council earned and received $94,900 under the "Section 5311"program during this fiscal year. Total rural transportation costsincurred by the Council were $219,364. These cost were funded asfollows:

Section 5311In Kind contributionsPublic fares, support and otherTransportation program fees from OFSMedicaid TransportationTitle III B grant fundsParish/Health Service DistrictTransfer To General Fund

$94,90014,05512,52532,34024,3632[27

175802430863)

219,364

NOTE 18 - PENSION PLAN

The Pointe Coupee Council on Aging, Inc. does not have a formalpension plan.

NOTE 19 - POST-RETIREMENT BENEFITS

The Pointe Coupee Council on Aging, Inc. does not offer any post-retirement benefits to its employees.

40

SUPPLEMENTARY INFORMATION REQUIRED BY GASB STATEMENT 34

41

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANABUDGETARY COMPARISON SCHEDULE - GENERAL FUNDFOR THE YEAR ENDED JUNE 30, 2006

REVENUES:IntergovernmentalCaptial Area Agency on Aging

Public SupportInvestment IncomeIn-Kind

Total Revenues

EXPENDITURES:Current

PersonnelFringeTravelOperating ServicesOperating SuppliesOther

Capital OutlayIn-Kind

Total Expenditures

Excess (Deficiency) Of RevenueOver Expenditures

Other Financial Sources (Uses)Transfers InTransfers Out

Total Other Financial Sources (Uses)

Excess of Revenues and Other SourcesOver Expenditures And Other Uses

FUND BALANCE, Beginning

FUND BALANCE, Ending

BUDGET AMOUNTSORIGINAL

$00000

000000000

0

000

0

0

0

FINAL

$00000

000000000

0

000

0

0

0

ACTUALAMOUNTS

GAAPBASIS

$05,0001,043

06,043

00

2450

925672

80

1,850

4,193

27,8630

27,863

32,056

190,667

222,723

VARIANCEFINAL BUDGET

FAVORABLE(UNFAVORABLE)

$05,0001,043

06,043

00

(245)0

(925)(672)

(8)0

(1,850)

4,193

27,8630

27,863

32,056

0

32,056

42

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANABUDGETARY COMPARISON SCHEDULE - PCOAFOR THE YEAR ENDED JUNE 30, 2006

ACTUAL VARIANCEAMOUNTS FINAL BUDGET

REVENUES:Intergovernmental

Governor's Office of Elderly AffairsPublic FaresInvestment IncomeIn-Kind

Total Revenues




Total Expenditures


Other Financial Sources (Uses)Transfers InTransfers OutTotal Other Financial Sources (Uses)





$21,048000

21,048

000000000

21,048

0(21,048)(21,048)

0

0

0

FINAL

$21,048000

21,048

000000000

21,048

0(21,048)(21,048)

0

0

0

GAAPBASIS

$21,048000

21,048

000000000

21,048

0(21,048)(21,048)

0

0

0


$00000

000000000

0

000

0

0

0

43

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANABUDGETARY COMPARISON SCHEDULE - TRANSPORTATIONFOR THE YEAR ENDED JUNE 30, 2006


Department of Health & HospitalsDepartment of TransportationOffice of Family Support

Public SupportPublic FaresOtherIn-Kind

Total Revenues




Total Expenditures







$22,00084,00022,000

06,300

00

134,300

FINAL

$24,20094,90025,000

06,300

00

150,400

ACTUALAMOUNTS

GAAPBASIS

$24,17594,90032,3404,6367,160

72914,055

177,995

VARIANCEFINAL BUDGET


($25)0

7,3404,636

860729

14,05527,595

92,79420,910

39845,40328,8942,551

00

190,950

(56,650)

56,6500

56,650

0

0

93,16420,961402

45,50132,3063,018

00

195.352

(44,952)

44,9520

44,952

0

0

91,28918,387

9553,27939,2523,007

014,055219,364

(41,369)

69,232(27,863)41,369

0

0

1,8752,574307

(7,778)(6,946)

110

(14,055)(24,012)

3,583

24,280(27,863)(3,583)

0

0

44

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANABUDGETARY COMPARISON SCHEDULE - TITLEFOR THE YEAR ENDED JUNE 30, 2006

B




Capital Area Agency on AgingDepartment of TransportationOffice of Family Support

Public FaresOtherIn-Kind

Total Revenues




Total Expenditures






$33,02700

2,90000

35,927

62,9258,487

11,9874,5171,1851,027

00

90,128

(54,201)

54,2010

54,201

0

0

0

FINAL

$33,02700

2,90000

35,927

62,6808,453

11,9854,4531,1771,224

00

89,972

(54,045)

54,0450

54,045

0

0

0

GAAP FAVORABLEBASIS (UNFAVORABLE)

$58,63000

2,4925,0411,897

68,060

50,6066,9239,6474,2711,2131,234

01,897

75,791

(7,731)

44,533(36,802)

7,731

0

0

0

$25,60300

(408)5,0411,897

32,133

12,0741,5302,338

182(36)(10)

0(1,897)14,181

46,314

(9,512)(36,802)(46,314)

0

0

0

45

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANABUDGETARY COMPARISON SCHEDULE - TITLEFOR THE YEAR ENDED JUNE 30, 2006

C1

REVENUES:IntergovernmentalCaptial Area Agency on Aging

Public SupportInvestment IncomeIn-Kind

Total Revenues




Total Expenditures








$39,45512,600

00

52,055

FINAL

$39,45512,600

00

52,055


GAAP FAVORABLEBASIS (UNFAVORABLE)

$39,455 $014,248 1,648

0 023,310 23,31077,013 24,958

43,1376,7761,9132,7241,853

61800

57,021

42,9786,7541,9112,6821,847

73600

56,908

43,2796,9132,1182,4241,835

6760

23T31080,555

(301)(159)(207)258

1260

0(23,310)(23,647)

(4,966) (4,853) (3,542) 1,311

4,9660

4,966

0

0

4,8530

4,853

0

0

3,5420

3,542

0

0

(1,311)0

(1,311)

0

0

46

POINTE COUPEE COUNCIL ON AGINGNEW ROADS, LOUISIANABUDGETARY COMPARISON SCHEDULE - PARISH HEALTH DISTRICTFOR THE YEAR ENDED JUNE 30, 2006



Pointe Coupee Health Service DistrictPublic FaresInvestment IncomeIn-Kind

Total Revenues




Total Expenditures








$66,996000

66,996

000000000

66,996

0(66,996)(66,996)

0

0

0

FINAL

$66,996000

66,996

000000000

66,996

0(66,996)(66,996)

0

0

0

GAAPBASIS

$66,996000

66,996

000000000

66,996

0(66,996)(66,996)

0

0

0


$00000

000000000

0

000

0

0

0

47

SUPPLEMENTARY INFORMATION REQUIRED BY GOEA

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COMPARATIVE SCHEDULE OF GENERAL FIXED ASSETS AND CHANGES INGENERAL FIXED ASSETS

YEAR ENDED JUNE 30, 2006

BALANCE ADJUSTMENTS BALANCEJULY 1, AND JUNE 30,2005 ADDITIONS DELETIONS 2006

GENERAL FIXED ASSETSEquipmentVehicles

Total

$12,648149,417

162,065

$2,693-0-

2,693

$7,435 $7,90621,099 128,318

28,534 136,224

INVESTMENT IN GENERAL FIXED ASSETS:

Title III-B $7,595 $-0-Title III-C-1 2,069 -0-Title III-C-2 573 -0-Title III-D 463 -0-Title III-E 21 -0-Senior Center 5,703 -0-FTA 125,016 -0-Health Service Dist 19,584 1,493Other 1,041 1,200

TOTAL INVESTMENT INGENERAL FIXED ASSETS 162,065 2,693

4201

$66047915760

-0-,646,647,885-0-

$6,1,

1104192

93559041640321057369192241

28,534 136,224

51

SUPPLEMENTARY INFORMATION REQUIRED BY OMB CIRCULAR A-133

52

POINTE COUPEE COUNCIL ON AGING, INC.NEW ROADS, LOUISIANA

SCHEDULE OF FEDERAL FINANCIAL ASSISTANCEYEAR ENDED JUNE 30, 2006

PROGRAM FEDERALPROGRAM CFDA OR AWARD REVENUE TOTALTITLE NUMBER AMOUNT RECOGNIZED EXPENDITURES

DEPARTMENT OF HEALTH & HUMAN SERVICESPASSED THROUGH:GOVERNOR'S OFFICE ELDERLY AFFAIRS

TITLE III-B 93.044 $41,983 $41,983 $41,983TITLE 1II-C-1 93.045 39,455 39,455 39,455TITLE III-C-2 93.045 3,862 3,862 3,862TITLE III-D 93.043 2,247 2,247 2,247TITLE III-E 93.052 2,992 2,992 2,992

90,539 90,539 90,539

PASSED THROUGH:DEPARTMENT OF HEALTH & HOSPITALS

MEDICAID 93.778 24,175 24,175 24,175

PASSED THROUGH:LA DEPARTMENT OF COMMUNITY SERVICES

TANF 93.558 32,340 32,340 32,340

Total Department Health & Human 147,054 147,054 147,054

DEPARTMENT OF TRANSPORTATIONPASSED THROUGH:LA DEPARTMENT OF TRANSPORTATION & DEVELOPMENT

FTA-Operating 20.509 94,900 94,900 94,900FTA-Capital 20.500 -0- -0- -0-

94,900 94,900 94,900

Total Federal Grants 241,954 241,954 241,954

53

Member */ )/lf7/7//J I' *l )fi \J4\\O MemberAmerican Insitute CPAs J~S\JtlMW W* J-S& ¥ WP Louisiana Society CPAs

7829 BLUEBONNET BLVD.BATON ROUGE, LA 70810

(225) 767-7829

REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIALREPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN

ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

August 24, 2006

To the Board of DirectorsPointe Coupee Council on AgingNew Roads, Louisiana

I have audited the financial statements of the governmental activities ofPointe Coupee Council on Aging, Inc. as of and for the year ended June 30,2006, which comprise the Pointe Coupee Council on Aging, Inc.'s basicfinancial statements and have issued'my report thereon dated August 24,2006. I conducted my audit in accordance with generally accepted auditingstandards and the standards applicable to financial audits contained inGovernment Auditing Standards, issued by the Comptroller General of theUnited States.

COMPLIANCEAs part of obtaining reasonable assurance about whether Pointe CoupeeCouncil on Aging, Inc.'s financial statements are free of materialmisstatement, I performed tests of its compliance with certain provisionsof laws, regulations, contracts, and grants, noncompliance with whichcould have a direct and material effect on the determination of financialstatement amounts. However, providing an opinion on compliance with thoseprovisions was not an objective of my audit and, accordingly, I do notexpress such an opinion. The results of my tests disclosed noinstances of noncompliance that is required to be reported underGovernment Auditing Standards.

INTERNAL CONTROL OVER FINANCIAL REPORTINGIn planning and performing my audit, I considered Pointe Coupee Councilon Aging, Inc.'s internal control over financial reporting in order todetermine my auditing procedures for the purpose of expressing myopinion on the financial statements and not to provide assurance on theinternal control over financial reporting. My consideration of theinternal control over financial reporting would not necessarily discloseall matters in the internal control that might be material weaknesses.

54

A material weakness is a reportable condition in which the design oroperation of one or more of the internal control components does notreduce to a relatively low level the risk that misstatements caused byerror or fraud in amounts that would be material in relation to thefinancial statements being audited may occur and not be detected withina timely period by employees in the normal course of performing theirassigned functions. I noted no matters involving the internal controlover financial reporting and its operation that we consider to bematerial weaknesses.

This report is intended for the information of the management, andfederal awarding agencies and pass-through entities. However, thisreport is a matter of public record and distribution is not limited.

Under Louisiana Revised Statutes 24:513, this report is distributed by theLegislative Auditor as a public document.

55

POINTS COUPEE COUNCIL ON AGING, INC.NEW ROADS. LOUISIANA

SCHEDULE OF PRIOR YEARS FINDINGSJUNE 30, 2006

FISCAL YEAR CORRECTIVEFINDING CORRECTIVE ACTION/PARTIAL

REF INITIALLY ACTION TAKEN CORRECTIVENO. OCCURRED DESCRIPTION OF FINDING (YES,NO,PARTIALLY) ACTION TAKEN

There were no audit findings reported last year.

56

POINTS COUPEE COUNCIL ON AGING. INC.NEW ROADS, LOUISIANA

SCHEDULE OF FINDINGS AND QUESTIONED COSTFOR THE YKAR ENDED JUNE 30. 2006

A. SUMMARY OF AUDITOR'S RESULTS

1. The auditor's report expresses an unqualified opinion on thefinancial statements of Pointe Coupee Council on Aging.

2. No reportable conditions relating to the audit of the generalpurpose financial statements are reported in the Report onCompliance and on Internal Control Over Financial ReportingBased on an Audit of Financial Statements Performed inAccordance with Government Auditing Standards.

3. No instances of noncompliance material to the general purposefinancial statements of the Pointe Coupee Council on Aging.

4. No audit findings are required to be reported in accordance withSection 510 (a) of OMB Circular A-133.

5. There were no major programs.

6. The threshold for distinguishing Type A and B Programs was$300,000.

7. The Pointe Coupee Council on Aging was considered to be a low-risk auditee.

B. FINDINGS - FINANCIAL STATEMENT AUDIT

There were no findings that required to be reported in the sectionof the report.

C. MANAGEMENT LETTER

The auditor did not issue a management letter this year.

57

POINTE COUPEE COUNCIL ON AGING, INC.CORRECTIVE ACTION PLAN FOR CURRENT YEAR AUDIT FINDINGS

YEAR ENDED JUNE 30, 2006

REFNO.

DESCRIPTIONOF FINDING

CORRECTIVEACTIONPLANNED

NAME OFCONTACTPERSON

ANTICIPATEDCOMPLETION

DATE

NOT APPLICABLE

58

Documents

Pointe Coupee Parish Council on Agingapp1.lla.la.gov/PublicReports.nsf/AF9B0136EE880AF... · The "Management's Discussion and Analysis" of the Pointe Coupee Council on Aging, Inc.'s