ROSIE D. HARPER - LLA Default Homepage A OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Statement of Financial Position For the Year Ended June 30, 2011 Assets Cash

0OO

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED

iMONROE, LOUISIANA

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT WITH SUPPLEMENTAL INFORMATION As of and for the Year Ended June 30,2011

BY

ROSIE D. HARPER CERTIFIED PUBLIC ACCOUNTANT, LLP

604 NORTH THIRD STREET • MONROE, LOUISIANA 71201 OFFICE (318)387-8008 FAX (318)387-0806

Under provisions of state law, this report is a public document. A copy of the report has been submitted to the entity and other appropriate public officials. The repoit is available for public inspection aUhe Baton Rouge office of the Legislative Auditor and, where approphate, at the office of the parish clerk of court.

Release Date O C T 1 9 2011


MONROE, LOUISIANA

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT

WITH SUPPLEMENTAL INFORMATION As of and for the Year Ended June 30, 2011


Monroe, Louisiana

Financial Statements and Independent Auditor's Report

with Supplemental Information As of and for the Year Ended June 30,2011

CONTENTS

STATEMENTS

A

B

C

D

PAGE NO.

1-2

4

5

6

7

8-14

Independent Auditor's Report

Financial Statements

Statement of Financial Position

Statement ofActivities

Statement of Cash Flows

Statement of Functional Expenses

Notes to the Financial Statements

Independent Auditor's Report On Internal Control Over Financial

Reporting and on Compliance and Other Matters Based On An Audit Of Financial Statements Pei^formed In Accordance With Government Auditing Standards 15-16

Supplemental Information: Schedule of Assets, Liabiiilies, and Net Assets 18 Schedule of Support, Revenue, Expenses, and Changes In Net Assets 19 Schedule of Cash Flows 20 Schedule of Expenses 21 Schedule of Activities-Budget to Actual (General) 22 Schedule of Activities-Budget to Actual (CDBG) 23 Schedule of Activities-Budget to Actual (EITC) 24 Schedule of Activities-Budget lo Actual (United Way) 25 Schedule ofActivities Budget to Actual (Vocational) 26 Schedule of Activities-Budget lo Actual (CAF) 27 Schedule of Activities-Budget to Actual (ACT 41) 28 Schedule of Aclivhies-Budgel to Actual (WIB) 29 Schedule of Expenditures of Federal Awards 30

ROSTE D. HARPER Certified Public Accountant, LLP

604 North Third Street • Monroe, Louisiana 71201 Phone: (318) 387-8008 • Fax: (318) 387-0806

Independent Auditor's Report

To the Board of Directors of Opportunities Industrialization Center of Ouachita, Incorporated

I have audited the accompanying statement of financial position of Opportunities Industrialization Center of Ouachita, Incorporated (a nonprofit organization) as of June 30, 2011, and the related statements of activities, cash flows and functional expenses for the year then ended. These financial statements arc the responsibility of Opportunities Industrialization Center of Ouachita, Incorporated's management. My responsibility is lo express an opinion on these financial statements based on my audit.

I conducted my audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that 1 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 financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in alt material respects, the financial position of Opportunities Industrialization Center of Ouachita, Incorporated as of June 30, 2011, and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, I have also issued my report dated August 16, 2011 on my consideration of Opportunities Industrialization Center of Ouachita, Incorporaled's internal control over financial reporting and on my 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 my testing of internal control over financial reporting and compliance and the results of that testing, and not provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of my audit.

Opportunities Industrialization Center of Ouachita, Incorporated Independent Auditor's Report (Continued)

My audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The accompanying schedules are presented for purposes of additional analysis, and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such infonnation directly to the underlying accounting and other records used to prepare the financial statements or the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In my opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.

Rosic D. Harper Certified Public Accountant

Monroe, Louisiana August 16,2011

FINANCIAL STATEMENTS

Statement A

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Statement of Financial Position

For the Year Ended June 30, 2011

Assets

Cash and Cash Equivalents $ 26,121 Grant Receivable 31,233 Security Deposit 580 Property, Plant & Equipment (Net, Note 1) 97,025

Total Assets 154,959

Liabilities and Net Assets

Liabilities: Deferred Revenue 9,382 Accrued Liabilities 39,374

Total Liabilities 48,756

Net Assets: Unrestricted:

Operating 106,203 Total Unrestricted 106,203

Temporarily Restricted:

Total Net Assets 106,203

Total Liabilities and Net Assets $ 154,959

See Accompanying Auditor's Report and Notes to Financial Statements.

Statement B

OPFORTUNrriES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Statement ofActivities


UNRESTRICTED NET ASSETS Support

Fundraising Revenue Banquet Revenue _$ 11,235

Total Fundraising Revenue 11,235

Other Support United Way Donor Designated Contributions 111 Other Revenues 2,071

Total Other Support 2,182

TOTAL UNRESTRICTED SUPPORT 13,417

Net Assets Released from Restrictions Restrictions Satisfied by Payinents 376,842

TOTAL UNRESTRICTED SUPPORT AND RECLASSIFICATION 390,259

Expenses Program Expenses 186,151 Fundraising Expenses 7,090 General and Administrative Expenses 207,943

Total Expenses 401J84 Change in Unrestricted Net Assets (10,925)

TEMPORARILY RESTRICTED NET ASSETS

Grants Local 17,000 Federal 70,786 State 285,500 Other Grants 3,445

Net Assets Released from Restrictions Restrictions Satisfied by Payments (376,842)

Change in Temporarily Restricted Net Assets ( 1 1 1 )

Change in Net Assets (11,036)

Net Assets as of Beginning of Year 117,239

Net Assets as of End of Year S 106,203


Statement C

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, IMCORPORATED Statement of Cash Flows


Operating Activities All Funds Change in Net Assets Adjustments to Reconcile Change in Net Assets to Net Cash Provided by Operating Activities:

Provision for Depreciation Decrease in Grants Receivable Decrease in Accounts Payable/Accrued Liabilities

Increase in Deferred Revenue

Total Adjustments

Net Cash Provided by Operating Activities

Net Increase in Cash and Cash Equivalents

$ (11,036)

11,022

(6,147)

15,998

(5,238)

15,635

4,599

4,599

21,522

$ 26,121

Cash and Cash Equivalents as of Beginning of Year Cash and Cash Equivalents as of The End of Year

Supplemental Information: Interest Paid $ 367


Statement D

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Statement of Functional Expenses


Personnel Costs Salaries and Wages Payroll Taxes and Oiher Fringe Benefits

Total Personnel Costs

Program Services

S 146,272 20.710

General and

Administrative

S 112,171 18.226

Support Services

Fundraising

$ $

Total Support Services

112,171 18.226

Total Expenses

S 258,443 38.936

166,982 130.397 130,397 297,379

Other Expenses

Bank Service Charges Banquet Expense Custodial Depreciation Expense Donations Dues and Subscriptions Equipment Maintenance Equipment Purchiises Equipment Rental Graduation Costs Insurance Interest Expense Office Supplies Other Program Expenses Postage Professional Fees Repairs and Maintenance Telephone/Internet

Training

Travel Utilities

200 7.090

--176 -943

1,526 3.600 1.687

---

5.129 ----

5.279

829

1,487 U.022

-1.648

----

5,125 367

5,719 -334

9.305 9,615

14,659 -

-

18,065

200 7,090 1,487

11,022 -

1,648 ----

5.125 367

5.719 -334

9.305 9.615

14,659

--

18.065

200 7,090 1,487

11,022 176

1,648 943

1.526 3,600 1,687 5-125

367 5,719 5,129

334 9,305 9,615

14,659

5,279

829 18,065

Total Other Expenses

Total Functional Expenses

19,169

S 186.151 $

77.546

207.943 $

7.090 84.636 103.805

7,090 $ 215.033 $ 401.184


Opportunities Industrialization Center of Ouachita, Incorporated Monroe, Louisiana

Notes to the Financial Statements As of and For the Year Ended June 30, 2011

NOTE A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

The Opportunities Industrialization Center of Ouachita, Incorporated is a private non-profit organization domiciled in the State of Louisiana at Monroe, Louisiana. Ihe Organization was chartered by the State of Louisiana on February 10, 1975. The Organization is recognized as a tax exempt (non-profit) organization under section 501 (c) (3) of the Internal Revenue Service Code. The Organization is supported primarily through state and private grants, contributions and donations from the public, and fundraisers. The objective of the Organization is primarily to provide services to train the unemployed for jobs in the industries of Northeast Louisiana. The Organization is governed by a Board of Directors consisting of eleven (II) members, which receive no compensation.

Public Support and Revenue

In order to comply with restrictions, which donors place on grants and other gifts as well as designations made by its governing board, the principles of reporting net assets are used. Revenue and public support consists mainly of state and private grants, fundraising, and contributions. Grants and other contributions of cash and other assets are reported as permanently restricted or temporarily restricted if they are received with donor restrictions or restrictions designated by the governing board. Contributions are considered to be unrestricted unless restricted by the donor. All assets over which the Board of Directors has discretionary control have been included in the General Fund.

Depreciation

The Organization follows the practice of capitalizing, at cost, all expenditures for fixed assets in excess of $5,000. Depreciation is computed on a straight-line basis over the useful lives of the assets generally as follows:

Building and improvements 30 years Furniture and equipment 7 years

Income Taxes

Opportunity Industrialization Center of Ouachita, Incorporated is exempt from federal income taxes under Section 501 (c) (3) of the Internal Revenue Code and therefore has made no provision for federal income taxes in the accompanying financial statements.

opportunities Industrialization Center of Ouachita, Incorporated Notes to Financial Statements (Continued)

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

Cash and Cash Equivalents

The Organization considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents for purposes of the statement of cash fiows exclude permanently restricted cash and cash equivalents. Under state law, the agency may deposit funds in demand accounts, interest bearing accounts, money market accounts, or time deposits with state banks organized under Louisiana law and national banks having their principal offices in Louisiana. The Organization had no cash equivalents during the audit period. On June 30, 2011, the Organization had cash totaling $26,121 as follows:

Unrestricted $ 26,121

Total Cash S 26,121

Total Columns

Total columns are presented to facilitate financial analysis. Data in these columns do not present financial position results of operations and changes in net assets in conformity with generally accepted accounting principles. Neither is such data comparable lo a consolidation.

NOTE B. PENSION PLAN

The Organization docs not have a retirement program for its employees and the employees are not members of the State of Louisiana Retirement System. All employees of the Organization are members of the Social Security System. In addition to the employees' contribution of 5.65 percent, the agency contributes 7.65 percent to the Social Security System. Contributions to the Social Security System for the year ended June 30, 2011 was $19,771. The Organization does not guarantee the benefits granted by the Social Security System.

NOTE C. OPERATING LEASE

The Organization has an operating lease as follows:

Education & Office Period Facilities Location 18 Years 0 Richwood, Louisiana

Opportunities Industrialization Center of Ouachita, Incorporated Notes to Financial Statements (Continued)

NOTE C. OPERATING LEASE (Continued)

The leased building and office facility in Richwood, Louisiana are located at the former Richwood High School. The land and building are owned by the Ouachita Parish School Board and subleased to the Town of Richwood. The Organization entered into a twenty two (22) year lease for zero ($0.00) dollars per month with an option to renew for an additional twenty-five (25) years al zero ($0.00) dollars per month. At the end of the lease, the facility in Richwood will revert back to the owners.

NOTE D. GRANT RECEIVABLES

At June 30, 2011, the Organization had grant receivables as follows:

Louisiana Technical College, Delta Ouachita Campus (VOC) $ 23,774 Workforce Investment Board (WIB) 7,459

Total $ 31,233

NOTE E. FUNCTIONAL ALLOCATION OF EXPENSES

The costs of providing the various programs and activities have been summarized on a functional basis in the statement of activities. Accordingly, certain costs have been allocated among the programs and supporting services benefited.

NOTE F. COMPENSATED ABSENCES

Compensated absences are absences for which employees will be paid, such as vacation, and/or sick leave. The Organization has a formal policy for accumulation and vesting of vacation, annual leave, and sick leave which is based on the length of service. The days that arc granted are included in annual salaries. Vacation days not taken during the current year are carried forward, however, should an employee leave or be terminated from the Organization they will be paid for up to ten (10) days only of accumulated annual leave days. For the year ended June 30, 2011, the total amount for accumulated days for compensated absences was $6,378. Costs for compensated absences arc recognized in the pay period taken by employees.

NOTE G. DEFERRED REVENUE

At June 30, 2011, the Organization had deferred revenue totaling $9,382 consisting of the following:

Consumer Action Fund $ 2,500 United Way 6.882

Total $ 9,382

10


NOTE H. PROPERTY, PLANT AND EOUIPMENT

For the period ended June 30, 2011, the Organization had net property equipment totaling $97,025. The following schedule refiects the balances in property, plant, and equipment at June 30, 2011:

7/1/2010 Additions Deletions 6/30/2011 Depreciable Assets

Building $ 65,000 $ - $ - $ 65,000 Fumiture & Equipment 110,700 - - 110,700 Leasehold Improvement in Progress 55,266 - - 55,266

Total Depreciable Assets Less Accumulated Depreciation

Depreciation Total Accumuated Depreciation

Net Depreciable Assets Other Property & Equipment

Land Net Property, Plant, & Equipment

NOTE I. ACCRUED LIABILITIES

At June 30, 2011, the Organization had accrued liabilities totaling $39,374 consisting of the following:

Accounts Payable $ 35,054 Payroll Liabilities 4,320

Total $ 39,374

230,966

(127,919) (127,919)

103,047

5,000 $ 108,047 $

(11,022) (11,022)

(11,022)

(11,022) $

230,966

(138,941) (138,941)

92.025

5,000 $ 97.025

The Organization maintains a line of credit with Capital One Bank for the purpose of meeting short-term cash How needs. The loan is short-term with an average interest rate of 3.75 %. As of June 30, 2011, the outstanding balance owed on the line of credit was $20,463 and available balance of $15,037.

NOTE J. BUDGET PRACTICES

The Organization prepares an annual budget that is approved by the Board of Directors. As a result, "budget to actual" comparative statements are presented as supplemental information.

NOTE K. COMMITMENTS

On March 20, 2008, the Organization entered into a cooperative endeavor with the State ofLouisiana Office of Facility Planning and Control of the Division of Administration for the construction of a new technical center, which will be located on the campus of the current Richwood site. The new technical center will be utilized to expand educational and vocational training opportunities benefiting individuals with low to no income levels. The total project is estimated to cost $4,285,000 over a five year period. As of June 30, 2011, $55,266 has been expended as follows:


NOTE K. COMMITMENTS (Continued^

Year

2008 2009

Total

Amount Expended

$ 13,815 41,451

S 55,266

NOTE L. INTERFUND RECEIVABLES AND PAYABLES

The statement of Financial Position focuses on the Organization as a whole. Therefore, interfund receivables ("Due From") and interfund liabilities ("Due To") are eliminated from the financial statements because they are not assets or liabilities of the Organization as a whole. However, the Organization maintained separate funds to account for activities within those funds; interfund liabilities and receivables are recognized at the fund level. The Organizations maintained the following funds for the period ending June 30, 2011:

General Fund

All assets over which the Board of Directors has discretionary control have been included in the General Fund.

CDBG Fund

The CDBG Fund is used to account for a Community Development Block Grant from the United States Department of Housing and Urban Development. The grant provides funding used for a Drop Out Prevention Program and Skills Training Program.

EITC Fund

The EITC Fund is an Eamed Income Tax Credit Program provided to raise awareness of available tax credits among eligible taxpayers and to provide quality income tax preparation services at no cost to low income clients. For the year ended June 30, 2011, the Organization provided and funded an Earned Income Tax Credit (Efl C) with board designated funds.

United Way Fund

The United Way Fund is used to account for a grant from United Way of Northeast Louisiana. The grant provides funding for training in the areas of Computer Skills Training and the I CAN Tutorial Program for the students from United Way.

WIB Fund

The WIB Fund is lo account for a grant from United States Department of Labor under the Workforce Investment Act Passed through the Ouachita Parish Police Jury. The funds arc used for the purpose of providing job training to welfare recipients to facilitate their transition into the workforce.

12


NOTE L. INTERFUND RECEIVABLES AND PAYABLES (Continued)

CAF Fund

The CAF Fund is to account for a grant from Consumer Action. The funds are used for the purpose of providing financial educational training.

Vocational Fund

The Vocational Fund is used to account for a state grant from Louisiana Technical College, Delta Ouachita Campus. It provides funding for the provision of services in Pre-Entry Training. Literacy Elevation, Job Skills Training, Life Skills, Counseling, Job Search and Placement Assistance for low to moderate-income clients, who are disadvantaged, unemployed and /or underemployed.

ACT 41 Fund

The ACT 41 Fund is to account for a grant from the Treasurer of the State of Louisiana. The funds are used for the purpose of providing regional job training and other services.

New Technical Center (NTC)

The New Technical Center Fund (NTC)) is used to account for funds received from the State of Louisiana Office of Facility Planning and Control of the Division of Administration for the construction of a new technical center, which will be located on the campus of the current Richwood site. The new technical center will be utilized to expand educational and vocational training opportunities benefiting individuals with low to no income levels. 1 he tolal project is estimated to cost $4,285,000 over a five year period. At June 30, 2011, the expenditures lo-dale for this project are as follows:

Year

2008 2009

Total

Amount Expended

$ 13,815 41,45!

S 55,266

13


NOTE L. INTERFUND RECEIVABLES AND PAYABLES (Continued)

The Organization had the following balances in its interfund accounts for the period ended June 30, 2011:

General Fund ACT 41

WIB

CDBG CAF United Way Fund

VOC Fund

Total General Fund

ACT 41 General Fund

Total ULM Fund

WIB

General Fund Total WIB Fund

CDBG

General Fund Total United Way Fund

CAF


United Way Fund


VOC Fund General Fund

Total VOC Fund

Total Interfund Transactions

Due From

$ 7,459 3,425

-

-

8,925 19,809

5,000 5,000

-

-

-

-

2,500 2,500

6.882 6,882

-

-

$ 34,191

Due To

$ 5,000 -

-

2,500 6,882

-

14,382

-

-

7,459 7.459

3,425 3,425

-

-

--

8.925 8,925

$ 34,191

ROSIE D. HAPIPER Certified Public Accountant, LLP

604 North Third Street • Monroe, Louisiana 7120 Phone: (318) 387-8008 • Fax: (318) 387-0806

Independent Auditor's 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

To: The Board of Directors Opportunities Industrialization Center of Ouachita, Incorporated

I have audited the financial statements of Opportunities Industrialization Center of Ouachita, Incorporated (a nonprofit organization) as of and for the year ended June 30, 2011, and have issued my report thereon dated August 16, 2011. I conducted my audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.

Internal Control Over Financial Reporting

In planning and performing my audit, 1 considered Oppoilunities Industrialization Center of Ouachita, Incorporated's internal control over financial reporting as a basis for designing my auditing procedures for the purpose of expressing my opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Opportunities Industrialization Center of Ouachita, Incorporated's internal control over financial reporting. Accordingly, I do not express an opinion on the effectiveness of the Opportunities Industrialization Center of Ouachita, Incorporated's internal control over financial reporting.

A deficiency in internal 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 a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the Opportunities Industrialization Center of Ouachita, Incorporated's financial statements will not be prevented, or detected and corrected on a timely basis.

My consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies, or material weaknesses. I did not identify any deficiencies in internal control over financial reporting that I consider to be material weaknesses, as defined above.

Independent Auditor's 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 (Continued)

Compliance and Other Matters

As part of obtaining reasonable assurance about whether Opportunities Industrialization Center of Ouachita, Incorporated's financial statements are free of material misstatement, 1 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 financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of my audit, and accordingly, 1 do not express such an opinion. The results of my tests disclosed no instances of noncompliance or other matters that are required lo be reported under Government Auditing Standards.

This report is intended solely for the information and use of the audit committee, management. Board of Directors, and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record and its distribution is not limited.

rf»>-^ M ^

Rosie D. Harper Certified Public Accountant

Monroe, Louisiana August 16,2011

16

SUPPLEMENTAL INFORMATION

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORA'l'ED Schedule of Assets. Liabiiilies, and Net A.ssets


Schedule 1

Assets

Tem|iornrily Rfstricted

CDBC FITC United

Wnv CAF ACTJI

rolnl All

Kiinds

Cash and Cash Equivalcnis

GTai«s Receivables

SecL]rit>' Deposit

Due from Other Funds

Property, Plant & Equipment

5S0

19,809

97.025

S 4,013 $

6,«82

7,459

S 26 S

2 J,774

5,000

4,039 J 26.121

Jl,233 31.233

5S0

14,382 3-1.191

97.025

Total Assets

Liabilities and Net Asset.s

Liabilities:

Deferred Revenue

Accrued Liabilities

Due to Other Funds

Total Liabilities

Net Assets:

Unrestricted:

Operating

Total Unrestricted

Temporarily Restricted

Total Net Assets

lotal Liabilities and Net Assets

2,500 189,150

18,911

14,382

33.293

588

3,425

4.013

-

f).i!82

7.459

7.459

-

2,500

14.875

8,025

23,800

5,000

5,000

20,463

19,809

49,654

39,374

34,191

82,947

106,203 106,203

5

106.203

106.203

!3C).496 ^.. 4,013 _$ S

.

6.882 $

.

7,4 59 S

.

2,500 _$_ 23,800 S

.

5,000 $

.

49,654 _ S _

106,203

106.203

189,150

See Accompanying Auditor's Report and Notes to Fin:incial Statements.

18

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACIirFA, INCORPORATED

Schedule of Support. Revenue, Expenses, and Changes in Net Assets

For the Year Ended

June 30, 2011

IINKESTBICTED Temporari ly Rest rifled

UNRESruiCTKD NET ASSETS

Support

Fundraising Revenue

B^mquct Revenue

CDBG EITC

United

Way W I B CAK VOC A c r j i Total

Total

Alt

Funds

Total Fundraising Revenue

Other Support

United Way Donor Designated Cimtrihutions

Other Re 'enues

Total Odicr Suppon

TOTAL UNTtESTRICTED SUPPORT

Net Assets Released fn im Restrictions

Restrictions Satisfied bv Pa\-ments

TOTAL UNRESTRICTKD SUPPORT ASD

RECI^S I I - ICAT ION

F.xpeitses

Program Expense

Fundraising Expenses

Oeneral and Administraiive E.xpenses

Total Expenses

Change in Unrestricted Net Asset:;

TKMPOt tAR ILV RESTRICTED NET ASSETS

Grants

U)eal

Federal

State

Other Giants

Net Assets Released from Restrictions

Ke^trictions Satisfied bv Payments

Change m Tc:iii]x>ianly Kcstricred Net Assets

Change in Net Assets

Net/\sseis as of Beynning of Year

Net Assets as of End of Year

11.235

2,071

2,071

13.306

376,842

390.148

186,1.^1

7,090

207,*>43

401.184

(11.036)

(M.OJri)

117.239

S 106.203 J

.

•

.

.

10.000

(lO.OOO)

-

.

-

.

-

.

.

9,460

(9,460)

-

S

111

111

111

111

, 111

17,000

(17.111)

( i l l )

I

.

-

.

-

.

51.326

(51.326)

-

%

-

.

3.445

(•l,44.'i>

-

S

.

-

.

.

-

.

280,500

(280,500)

-

$

.

5,000

(5.000)

s

H I

111

111

111

111

17.000

70.786

285,500

3,445

(376.842)

(111)

S

11.235

111

2,071

2.182

1.1,417

376.842

390.259

I 8 M 5 1

7,090

207.943

4(11,184

flO.925)

17,000

70.786

235.50(1

3.445

(376.842)

(111)

< 11.036)

117.239

$ 106 203

Sc^ Accompanying Auditor^ Rcpi rt and Notes to Fuuricial Siarrnicnu

OPPORTUNITIES INDUSTRIALIZATION CENTER OK OUACHITA. INCORPORATED Schedule of Cash Flows

[•or ihe Year Ended June 30, 2011

Operating Attivities Change in Net Assets Adjustments to Kci:nncilc Change in Net A<;.set5 to Net Cash Provided by Operating Activities:

Pro\ision for Dcpreciaiion Decrease (Increase) in Grants Rcceivable>'Other Receivables Decrease (Increase) in Due from Other Funds lncre,ise (I>ecrease) in Accounts Pay able'Accrued Liabilities Increase (Decrease) in Deferred Revenue Increase (Decrease) in Due to Other Funds

Total Adjustmoits

Net Cash Pro\'ided (Used) by Operating Activities

Net Increase (Decrease) in Cash and Cash Equivalents

Cash and Cash Equivalents ss of Beginning of Year CashandCashEquivalentsa.s»f thcFndof Year

Supplemental Information: Interest Paid

l l .NRES' lRICTEn

General S (11,036)

11.022

(4,774) 6.074

6.336

18,658

7.622

7,622

14.460 J 22.082

$

$

%

S

CDBG

2,146

579

1.238

4.013

4,013

4.013

4.013

S

s

s

Eire

2,858 (434)

(9,460)

(7,036)

(7.036)

(7.036)

7.036

.

$

S

s

U L M

14 (14)

Temporarih

United

Way S -

(1.708)

(14) 1.722

S

S 367

1

S

IT Restrirted

WIB

(790)

(164)

963

^ ^ =

CAF $ •

(2.500)

2,500

$ -

$ -

VOC

$ -

(7.491)

4.971

2.523

26 S 26

$ -

ACT 41

(5.000) 5.0O0

s

s •

I

s

s

Total

(6.147) (6,33(3) 9.924

(5,238)

4.774

(3,023)

(3.023)

(3,023)

7.062 4.039

367

S

T

s

Total A l l

Fund!. (11.036)

11,022 (6.147)

(11,110) 15.998 (S.ZIS) 11.110

15.635

4,599

4.59Q

21.522 2<..121

367

Sec Accompanying Auditor's Report and Notes to Financial Statements

20


S ihcdvilc of ExpcHses

For the Year Ended

June 30, 2011

Schedule 4

U N R E S T R i r r E D Temporarily Restricted (Reclainified to Unreslricled)

General & Administrative Personnel Costs

Salaries and Wages Payroll Ta.\es and Other Fringe Benefits


Other Expenses Bank Service Charges Custodial

Depreciation F xpense Dues and Subscnpiions Insurance Interest Expense Office Supplies Postage

Professional Fees Repairs and Maintenance Telephone/Internet Utilities

Total Other Expenses

Total General & Administrative

Fundraising Expenses

Banquet Expense

Total Fundraising Expenses

Program Expenses Personnel Costs

Sal.tnes and Wages Payroll Taxes and Other Fringe Benefits


Other Expenses Donations Equipment Maintenance Equipment Purchase Equipment Rental Graduation Cost

Other Program E.\[)aises Training .Maieiinls/Supplies Travel

•fotal Other Expenses

Total Program Eipenies

Tutiil Fimrtional Expenses

11.022 1.538

I2.5fi(i

l2..-)60

7.Ct9U

7.WU

711 3,SI3

233

4,t>33

4,6!i2

7.714 '»37

i.ft.'i I

272

K.923

S.2K() l.IKO

I'niled Way

200 282

367 3J0

1,355 1.326 3,981)

3,980

43,I14V (•..020

S 112.171 18,226

5,125

4.481 334

9,305 y.f.i*?

13.3tU 15.7X4 59,153

68,750 11.170

24.342 S lii.iUHt S 9,46(1

; 97(.

on

1.6(18

I.3.I3I

I 17.111

-3V

642

68!

50.550

S 51.326

'>J5

-'145

3.445

S 3.44.5

943 1,254 3.6(H1

--

4.404 K29

11,03U

90.95(1

S 28(1.500

Total

Total All

Funds

$ 112.171 J 1 K.226

112,171 18.226

200

1.487

-no

5,125 367

5.719 334

9.305 9,615

14.659 I8.(H,5 (A.'mo

195,383

200

1.487 ll,U22 1,648

5,\25 367

5.719 334

9,3(15 9,615

14,659 18.065 77,546

207,943

7,0*K1

7.(l''ii

146.213 20.710

166.923

943 1.526 3.600

976

1.616 5.(M6

829

146.272 20.7111

166,y!i2

176

943 1.526 3,6110 1,6K7

5,129 5.279

K29

J 5.00" S 376.842

See Accompanying Auditor^ Report and Notes to Financial Statements

Schedule 5

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Statement of Activities-Budget to Actual

General Fund (Cash Basis)


Revenue Other Income

Total Revenue

Budgeted

$ 11,000 11,000

Actual

$ 13,306 13,306

Variance

$ (2,306) (2,306)

Expenses

Personnel Costs Salaries and Wages Payroll Taxes and Other Fringe Benefits


Other Expenses Total Expenses

-

11,000 11,000

59

59

13,261 13,320

(59)

(59)

(2,261) (2,320)

Other Changes in Net Assets Transfer In Transfer Out

Total Other Changes in Net Assets

Change in Net Assets (14) 14

Sec Accompanying Auditor's Report and Notes to Financial Statements.

22

Schedule 6


CDBG Fund


Budgeted Actual Variance

Revenue Grants

Total Revenue 0.000

10,000

$ 10,000 10,000

Expenses

Personnel Costs Salaries and Wages Payroll Taxes and Other Fringe




Benefits 6,841 1,159 8,000

2.000 10,000

$

7,714 937

8,651

1.349 10,000

$ - $

(873) 222

(651)

651

-


23

Schedule 7


EITC Fund



Revenue Grants

Total Revenue $ 9,460 $ 9,460

9,460 9,460

Expenses





8,280 1,180 9,460

_

9,460

$

8,280 1,180 9,460

_

9,460

$

See Accompanying Auditor's Report and Notes lo Financial Statements.

24

Schedule 8


United Way Fund



Revenue Grants Donor Designated Donations

Total Revenue

$ 18,822

18,822

$ 17,000 111

17,111

$ 1,822 (111)

1,711

Expenses





Benefits 12,851 2,150

15,001

3,821 18,822

$

10,120 1,403

11,523

5,588 17,111

$

2,731 747

3,478

(U767) 1,711

$


25

Schedule 9

OPPORTUNITIES INDUS IRIALIZATION CENTER OF OUACHITA. INCORPORATED Statement of Activities-Budget to Actual

Vocational Fund



Revenue Grants

Total Revenue $ 280,500 $ 280,500 $

280,500 280,500

Expenses





Benefits 183,657 28,347

212,004

68,496 280,500

$

180,921 29,396

210,317

70,183 280,500

$

2,736 (1.049) 1,687

(1,687)

$


26

Schedule 10


CAF Fund



Revenue Grants

Total Revenue 5,000 $ 3,445 $ 5,000 3,445

1,555 K555

Expenses



5,000

5,000

2,500

2,500

2.500

2,500

Other Expenses Total Expenses 5.000

945 3,445

(945) 1.555





27

Schedule 11


ACT 41 Fund



Revenue Grants

Total Revenue 5.000 5,000

$ 5,000 $ 5,000

Expenses



5,000

5,000

5,000

5,000

Other Expenses Total Expenses 5,000 5,000





28

Schedule 12


WIB Fund



Revenue Grants

Total Revenue 52,513 $ 51,326 $

52.513 51,326 1,187 1,187

Expenses




43,225 6,231

49,456

3,057 52,513

43,849 6.020

49,869

1,457 51,326

(624) 211

(413)

1,600 1,187





29

Schedule 13

OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Schedule of Expenditures of Federal Awards


SOURCE OF FEDERAL ASSISTANCE AGENCY

FEDERAL CFDA FEDERAL

NUMBER EXPENDITURES

UNITED STATI-S DEPARTMENT OF HOUSING AND URBAN Dl-VELOPMEN1"

Community Development Block Grant-CDBG Pass-through City of Monroe (Non-major Program)

TOTAL UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

UNITED STATES DEPAR TMENl OF LABOR Passed through the Louisiana Department of Labor

Workforce Investment Board (WIB) Pass-through Ouachita Parish Police Jury (Non-major Program)

TOTAL UNITED S FATES DEPARTMENT OF LABOR

TOTAL EXPENDITURES OF FEDERAL AWARDS


14.218

17.255

10,000

10,000

51.326

51.326

61.326

30

LOUISIANA ATTESTATION QUESTIONNAIRE (For Attestation Engagements of Quasi-public Entities)

August 16.2011

Rosie D. Harper. CPA. LLP 604 North Third Street Monroe. Louisiana 71201

In connection with your audit of our financial statements as of June 30. 2011 and for the period then ended, and as required by Louisiana Revised Statute 24:513 and the Louisiana Governmental Audit Guide, we make the follovving representations to you. We accept full responsibility for our compliance with the following laws and regulation and the internal controls over compliance with such laws and regulations. We have evaluated our compliance with the following laws and regulations prior to making these representations.

These representations are based on the infoi-mation available to us as of August 16, 2011.

Federal, State, and Local A>vards We have detailed for you the amount of federal, state and local award expenditures for the fiscal year, by grant and grant year.

Yes [ X ] No [ ] Ail transactions relating to federal, state, and local grants have been properly recorded within our accounting records and reported to the appropriate state, federal, and grantor officials.

Yes [ X ] No [ ] The reports filed with federal, state, and local agencies are properly supported by books of original entry and supporting documentation.

Yes [ X ] No [ ] We have complied with all applicable specific requirements of all federal, stale, and local programs we administer, to include matters contained in the OMB Compliance Supplement, matters contained in the grant awards, eligibility requirements, activities allowed and unallowed, and reporting and budget requirements.

Yes [ X I No [ ] Open Meetings Our meetings, as they relate to public funds, have been posted as an open meeting as required by RS 42:1 through 42:13 (the open meetings law). N/A

Yes [ ] No [ ] Budget For each federal, state, and local grant we have filed with the appropriate grantor agency a comprehensive budget for those grants that included the purpose and duration, and for state grants included specific goals and objectives and measures of performance

Yes [ X "j No [ ]

Prior Year Comments We have resolved all prior-year recommendations and/or comments. N/A

Yes [ ] No [ ]

We have disclosed to you all known noncompliance of the foregoing laws and regulations, as well as any contradictions to the foregoing representations. We have made available to you documentation relating to the federal, state, and local grants, to include the applicable laws and regulations.

We have provided you with any communications from regulatory agencies or other sources concerning any possible noncompliance with the foregoing laws and regulations, including any communications received between the end of the period under examination and the issuance of this report. We will also disclose to you, the Legislative Auditor, and the applicable state grantor agency/agencies any known noncompliance which may occur up to the date of your report.

$^~^^sSl^^~~^ Secretary 1' 17-C{ Date

Treasurer Date

^Im/ t. Yy\£.^^ President ^ ' ^ " J - H Date

Documents

ROSIE D. HARPER - LLA Default Homepage A OPPORTUNITIES INDUSTRIALIZATION CENTER OF OUACHITA, INCORPORATED Statement of Financial Position For the Year Ended June 30, 2011 Assets Cash