|Sheriff audit clean; assets $10 million|
Assets for the Concordia Parish Sheriff's Office exceeded liabilities by $10 million on June 30, 2007, according to a financial report released this week by the Louisiana Legislative Auditor.
The numbers show that the sheriff's office financial operations remain strong.
The financial report for the fiscal year ended last June was compiled by Switzer, Hopkins & Mange of Ferriday.
"This is the 18th year and an approximately $11 million budget and our audit is clean as a whistle," Maxwell stated. "It takes a lot of good employees to make this happen, especially in the areas of our grants. Federal grants are audited twice," he noted, making it "all the more notable to have these positive results."
"I'm extremely pleased, as always, to have a good, solid, clean audit," Maxwell stated. "It reflects well on this entire organization."
The report notes that the "beginning cash balance for the Concordia Parish Sheriff was $5,463,827 as of June 30, 2005. The ending cash balance at June 30, 2006, was $5,220,710 and it was $5,478,797 at June 30, 2007."
Additionally, the sheriff "had $10,594,408 in revenues for the year ended June 30, 2006, and $11,715,650 for the year ended June 30, 2007, which primarily consisted of property taxes, grants, prisoner upkeep and interest income. There was $11,065,034 in expenditures including depreciation of $392,970 for the year ended June 30, 2006, and $11,749,127 in expenditures including depreciation of $408,998 for the year ended June 30, 2007."
A large portion of the sheriff's net assets -- $4,780,533 (or 48 percent) -- is "its investment capital assets such as equipment and facilities less related debt expended in the acquisition of those assets.
"The remaining balance of the net assets ($5,223,326 or 52 percent) may be used to pay current operating expenses.
"The sheriff had long-term debt due within one year, of $454,529 at June 30, 2007, which is completely made up of accruals to pay for compensated absences earned by employees..."
In management comments, the report notes that it "was found that funds were available to be able to pay off the debt connected with the construction of the Correctional Facility here in Concordia Parish during the fiscal year ended June 30, 2006, one year ahead of schedule. The Sheriff's Office can now operate the facility more effectively, continuing to provide jobs to parish residents and maintain a facility owned completely by the residents of Concordia Parish."
In the statement of revenues and changes in the governmental fund balance, revenues were listed as $11,715,650 for the year ended June 30, 2007, while expenditures totaled $4,041,913.
Expenditures included $3.1 million for personal services and related benefits, $740,293 for operating services, $17,921 for materials and supplies, $122,173 for travel and other charges and $59,737 for capital outlay.