STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITOR_part1 pdf

STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITOR PHIL BRYANT State Auditor RAMONA HILL, CPA Director, Financial and Compliance Audit Division ED YARBOROUGH, CPA, CIA, CFE, CGFM Director, County Audit Section PIKE COUNTY, MISSISSIPPI General-Purpose Financial Statements and Special Reports For the Year Ended September 30, 1997 PIKE COUNTY TABLE OF CONTENTS FINANCIAL SECTION 1 INDEPENDENT AUDITOR'S REPORT 3 GENERAL-PURPOSE FINANCIAL STATEMENTS 5 Combined Balance Sheet - All Fund Types and Account Groups 6 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Funds 8 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget (Non-GAAP Budgetary Basis) and Actual - All Governmental Fund Types 10 Notes to Financial Statements 12 SPECIAL REPORTS 27 Independent Auditor's Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of the General-Purpose Financial Statements Performed in Accordance With Government Auditing Standards 29 Independent Auditor's Report on Central Purchasing System, Inventory Control System and Purchase Clerk Schedules (Required by Section 31-7-115, Miss. Code Ann. (1972)) 31 Independent Auditor's Report on Compliance with State Laws and Regulations 37 SCHEDULE OF FINDINGS 41 3750 I-55 NORTH FRONTAGE ROAD JACKSON, MISSISSIPPI 39211 (601) 364-2888 FAX (601) 364-2828 The Office of the State Auditor does not discriminate on the basis of race, religion, national origin, sex, age or disability 1 PIKE COUNTY FINANCIAL SECTION 2 PIKE COUNTY (This page left blank intentionally) 3 OFFICE OF THE STATE AUDITOR PHIL BRYANT AUDITOR INDEPENDENT AUDITOR'S REPORT ON THE GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION December 8, 1997 Members of the Board of Supervisors Pike County, Mississippi We have audited the accompanying general-purpose financial statements of Pike County, Mississippi, as of and for the year ended September 30, 1997, as listed in the table of contents. These general-purpose financial statements are the responsibility of the county's management. Our responsibility is to express an opinion on these general-purpose financial statements based on our audit. We did not audit the financial statements of the Pike County Economic Development District, a component unit, which represents 100% of the assets and revenues of the governmental component unit column. Those statements were audited by other auditors whose report thereon has been furnished to us, and our opinion, insofar as it relates to the amounts included for the aforementioned component unit, is based solely on the report of the other auditors. We conducted our audit in accordance with generally accepted auditing standards and the standard applicable to financial audits contained in 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. In our opinion, based on our audit and the report of other auditors, the general-purpose financial statements referred to above present fairly, in all material respects, the financial position of Pike County, Mississippi, as of September 30, 1997, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated December 8, 1997, on our consideration of Pike County, Mississippi's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. PHIL BRYANT RAMONA HILL, CPA State Auditor Director, Financial and Compliance Audit Division 4 PIKE COUNTY (This page left blank intentionally) 5 PIKE COUNTY GENERAL-PURPOSE FINANCIAL STATEMENTS 6 PIKE COUNTY Exhibit A Combined Balance Sheet - All Fund Types and Account Groups September 30, l997 Governmental Fiduciary Account Totals Totals Fund Types Fund Type Groups Memorandum Memorandum Trust General General Only Component Only Special Debt and Fixed Long-term Primary Units Reporting General Revenue Service Agency Assets Debt Government Governmental Entity ASSETS Cash and investments (Note 4) $ 2,445,571 2,747,552 458,983 409,690 6,061,796 513,306 6,575,102 Cash on deposit with risk pool (Note 8) 54,323 27,147 81,470 81,470 Accounts receivable 23,210 23,210 Other receivables 1,496 1,496 1,496 Intergovernmental receivables 141,160 141,160 141,160 Interfund receivables (Note 5) 80,423 13,818 17,446 111,687 111,687 Lease payments receivable (Note 9) 6,646,440 6,646,440 6,646,440 Fixed assets (Note 6) 11,921,703 11,921,703 78,761 12,000,464 Amount available in debt service funds 472,801 472,801 472,801 Amount to be provided for retirement of general long-term debt 9,030,873 9,030,873 9,030,873 Total Assets $ 2,642,550 9,501,562 472,801 427,136 11,921,703 9,503,674 34,469,426 615,277 35,084,703 LIABILITIES AND FUND EQUITY Liabilities: Claims payable $ 25,436 36,433 61,869 23,044 84,913 Amounts held in custody for others 18,545 18,545 18,545 Intergovernmental payables 204,075 377,158 581,233 581,233 Interfund payables (Note 5) 111,687 111,687 111,687 Deferred revenue - lease principal payments 4,320,000 4,320,000 4,320,000 Deferred revenue - lease interest payments 2,326,440 2,326,440 2,326,440 Deferred revenue - other 32,950 32,950 32,950 Compensated absences liability (Note 10) 136,758 136,758 136,758 General obligation bonds payable (Note 10) 9,095,000 9,095,000 9,095,000 Capital leases payable (Note 10) 89,116 89,116 89,116 Other loans and notes payable (Note 10) 182,800 182,800 182,800 Total Liabilities 341,198 6,715,823 0 395,703 0 9,503,674 16,956,398 23,044 16,979,442 This is trial version www.adultpdf.com [...]... 2,758,592 2,785,739 472,801 31,433 31,433 11,921,703 0 81,470 5,037,054 17,513,028 2,642,550 9,501,562 472,801 427,136 11,921,703 9,503,674 34,469,426 The notes to the financial statements are an integral part of this statement This is trial version www.adultpdf.com 7 . STATE OF MISSISSIPPI OFFICE OF THE STATE AUDITOR PHIL BRYANT State Auditor RAMONA HILL, CPA Director, Financial and Compliance Audit. Compliance with State Laws and Regulations 37 SCHEDULE OF FINDINGS 41 3750 I-55 NORTH FRONTAGE ROAD JACKSON, MISSISSIPPI 39211 (601) 364-2888 FAX (601) 364-2828 The Office of the State Auditor does. have audited the accompanying general-purpose financial statements of Pike County, Mississippi, as of and for the year ended September 30, 1997, as listed in the table of contents. These general-purpose