BENTON COUNTY TABLE OF CONTENTS FINANCIAL _part1 docx

STATE OF MISSISSIPPI STEVEN A PATTERSON State Auditor WILLIAM S JONES, CPA Director, Department of Audit ED P YARBOROUGH, CPA Director, Division of County Audits BENTON COUNTY, MISSISSIPPI Primary Government Financial Statements and Special Reports For the Year Ended September 30, 1995 BENTON COUNTY TABLE OF CONTENTS FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT PRIMARY GOVERNMENT FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget (Non-GAAP Budgetary Basis) and Actual - All Governmental Fund Types Notes to Financial Statements 10 SUPPLEMENTAL INFORMATION 23 Schedule of Federal Financial Assistance 25 SPECIAL REPORTS 27 Independent Auditor's Report on the Internal Control Structure Based on an Audit of the Primary Government Financial Statements Performed in Accordance with Government Auditing Standards 29 Independent Auditor's Single Audit Report on the Internal Control Structure Used in Administering Federal Financial Assistance Programs 31 Independent Auditor's Report on Central Purchasing System and Purchase Clerk Schedules (Required by Section 31-7-115, Miss Code Ann (1972)) 35 Independent Auditor's Report on Compliance Based on an Audit of the Primary Government Financial Statements Performed in Accordance with Government Auditing Standards 41 Independent Auditor's Single Audit Report on Compliance with General Requirements Applicable to Federal Financial Assistance Programs 43 Independent Auditor's Single Audit Report on Compliance with Specific Requirements Applicable to Nonmajor Federal Financial Assistance Program Transactions 45 Independent Auditor's Report on Compliance with State Laws and Regulations 47 FINDINGS AND RECOMMENDATIONS 49 BENTON COUNTY FINANCIAL SECTION BENTON COUNTY (This page left blank intentionally) OFFICE OF THE STATE AUDITOR STEVEN A PATTERSON AUDITOR INDEPENDENT AUDITOR'S REPORT ON THE PRIMARY GOVERNMENT FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION April 9, 1996 Members of the Board of Supervisors Benton County, Mississippi We have audited the accompanying primary government financial statements of Benton County, Mississippi, as of and for the year ended September 30, 1995, as listed in the table of contents These financial statements are the responsibility of the county's management Our responsibility is to express an opinion on these financial statements based on our audit We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation We believe that our audit provides a reasonable basis for our opinion A primary government is a legal entity or body politic and includes all funds, organizations, institutions, agencies, departments and offices that are not legally separate Such legally separate entities are referred to as component units In our opinion, the primary government financial statements referred to above present fairly, in all material respects, the financial position of the primary government of Benton County, Mississippi, at September 30, 1995, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles However, the primary government financial statements, because they not include the financial data of component units of Benton County, Mississippi, not purport to, and not present fairly the financial position of Benton County, Mississippi, at September 30, 1995, and the results of its operations for the year then ended in conformity with generally accepted accounting principles Our audit was made for the purpose of forming an opinion on the primary government financial statements taken as a whole The supplemental information, as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the primary government financial statements of Benton County, Mississippi Such information has been subjected to the auditing procedures applied in our audit of the primary government financial statements and, in our opinion, is fairly presented in all material respects in relation to the primary government financial statements taken as a whole 3750 I-55 NORTH FRONTAGE ROAD JACKSON, MISSISSIPPI 39211 (601) 364-2888 FAX (601) 364-2828 In accordance with Government Auditing Standards, we have also issued a report dated April 9, 1996, on our consideration of Benton County, Mississippi's internal control structure and a report dated April 9, 1996, on its compliance with laws and regulations WILLIAM S JONES, CPA Director, Department of Audit BENTON COUNTY PRIMARY GOVERNMENT FINANCIAL STATEMENTS BENTON COUNTY Combined Balance Sheet - All Fund Types and Account Groups September 30, l995 Exhibit A Governmental Fund Types Fiduciary Fund Type General Special Revenue Debt Service 845,537 570,540 37,632 152 17,445 40,349 22,885 13,075 Account Groups General Fixed Assets General Long-term Debt 574 Agency Totals Memorandum Only Primary Government ASSETS Cash and investments Deferred compensation plan assets Other receivables Due from other governments Due from other funds Fixed assets Amount available in debt service funds Amount to be provided for retirement of general long-term debt Total Assets $ 6,452 17,257 1,460,161 17,257 40,501 40,410 13,649 2,953,166 80 2,953,166 38,206 $ 863,134 646,849 $ 111,139 38,206 23,789 2,953,166 38,206 300,329 338,535 300,329 4,863,679 20,000 264,721 53,814 338,535 161,710 17,257 84,051 13,649 20,000 264,721 53,814 615,202 50,571 LIABILITIES AND FUND EQUITY Liabilities: Claims payable Amounts held in custody for others Due to other governments Due to other funds General obligation bonds payable Capital leases payable Other loans and notes payable Total Liabilities 77,519 13,649 202,307 Fund Equity: Investment in general fixed assets Fund balances: Reserved for debt service Unreserved Total Fund Equity Total Liabilities and Fund Equity 17,257 6,532 50,571 23,789 2,953,166 2,953,166 660,827 660,827 38,206 $ 596,278 596,278 38,206 2,953,166 38,206 1,257,105 4,248,477 863,134 646,849 38,206 23,789 2,953,166 338,535 4,863,679 The notes to the financial statements are an integral part of this statement This is trial version www.adultpdf.com BENTON COUNTY Combined Statement of Revenues, Expenditures and Changes in Fund Balances All Governmental Fund Types For the Year Ended September 30, 1995 Exhibit B Governmental Fund Types Totals Memorandum Only Primary Government General Revenues Property taxes Licenses, commissions and other revenue Fines and forfeitures Intergovernmental revenues: Federal sources State and local sources Charges for services Use of money and property Miscellaneous revenues Total Revenues Debt Service 954,234 325,018 27,910 65,939 116,595 $ Special Revenue 77,674 143,613 116,595 293,616 492,825 208,636 12,066 128 1,409,963 293,616 719,180 241,764 45,218 2,837 2,869,985 226,355 33,128 32,037 2,709 1,430,997 Expenditures Current: General government Public safety Public works Health & welfare Culture & recreation Conservation of natural resources Economic development & assistance Debt service: Principal retirement Interest and fiscal charges Total Expenditures 29,025 816,300 323,499 4,240 53,271 47,322 36,717 16,045 145,499 17,332 1,628,963 20,721 4,610 25,331 176,220 23,762 2,963,508 121,783 Other Financing Sources (Uses) Proceeds of other debt Proceeds from sale of assets Insurance recoveries Operating transfers in Operating transfers out Total Other Financing Sources (Uses) 37,471 21,551 1,115,974 10,000 1,820 1,309,214 Excess of Revenues over (under) Expenditures (219,000) 3,694 (93,523) 3,377 853,771 345,050 1,120,214 53,271 47,322 36,717 307,181 291,136 139,561 35,018 27,377 77,500 139,561 35,018 30,754 77,500 (77,500) (77,500) (74,123) 205,333 60,456 3,694 111,810 613,167 529,666 40,668 1,183,501 6,156 Fund Balances Beginning of year 279,456 47,660 Excess of Revenues and Other Sources over (under) Expenditures and Other Uses (6,156) 596,278 38,206 Residual equity transfers End of year 1,115 1,307,162 $ 660,827 The notes to the financial statements are an integral part of this statement 1,295,311 ... statements of Benton County, Mississippi, as of and for the year ended September 30, 1995, as listed in the table of contents These financial statements are the responsibility of the county'' s management... government financial statements, because they not include the financial data of component units of Benton County, Mississippi, not purport to, and not present fairly the financial position of Benton County, ... information, as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the primary government financial statements of Benton County, Mississippi