Boys and Girls Clubs of Acadiana Inc
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BOYS AND GIRLS CLUBS OF ACADIANA, INC. Financial Report Years Ended December 31, 2012 and 2011 TABLE OF CONTENTS Page INDEPENDENT AUDITORS' REPORT 1-2 FINANCLA.L STATEMENTS Statements of financial position 4 Statements of activities 5-6 Statements of functional expenses 7-8 Statements of cash flows 9 Notes to financial statements 10-14 INTERNAL CONTROL, COMPLIANCE AND OTHER MATTERS Independent Auditors' Report on Intemal Control Over Financial Reporting And On Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Govemment Auditing Standards 16-17 Summary schedule of current and prior year audit findings 18 and corrective action plan C. Burton Kolder, CPA* KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC Russell F. Champagne, CPA' CERTIFIED PUBLIC ACCOUNTANTS Victor R. Slaven, CPA" Gerald A. Thibodeaux, Jr., CPA* OFFICES Robert S. Carter, CPA* Arthur R. Mixon, CPA" 183 South Beadle Rd. 450 East Main Street Penny Angelle Scruggins, CPA Lafayette, LA 70508 New Iberia, LA 70560 Christine C. Doucet, CPA Phone (337) 232^141 Phone (337) 367-9204 Fax (337) 232-8660 Fax (337) 367-9208 Wanda F. Arcemeni, CPA,CVA Allen J.LaBry, CPA 113 East Bridge Si. 200 South Mam Street Albert R. Leger, CPA,PFS,CSA* Breaux Bridge, LA 70517 Abbeville, LA 70510 Marshall W. Guidry, CPA Phone (337) 332^020 Phone (337) 893-7944 Stephen R Moore, Jr., CPA,PFS,CFP*',ChFC*' Fax(337)332-2867 Fax (337) 893-7946 James R. Roy, CPA Robert J. Meiz, CPA 1234 David Dr. Ste 203 1013 Mam Street Alan M. Taylor, CPA Morgan City, tA 70380 Franklin, LA 70538 Kelly M. Doucet, CPA Phone (985) 384-2020 Phone (337) 828-0272 Cheryl L Bartley, CPA Fax (985) 384-3020 Fax (337) 828-0290 Mandy B. Self, CPA Paul L. Delcambre, Jr., CPA 408 West Cotton Street 133EasiWaddilSt. Kristin B. Dauzai, CPA Ville Platte, LA 70586 MartevilleLA71351 Matthew E. Margaglio, CPA Phone (337) 363-2792 Phone (318) 253-9252 Jane R. Hebert, CPA Fax (337) 363-3049 Fax (318) 253-8681 Bryan K. Joubert, CPA Stephen J. Anderson, CPA 332 West Sixth Avenue 1428 Metro Drive W. Jeffrey Lowry, CPA Oberiin, LA 70655 Alexandria, LA 71301 Phone (337) 639^737 Phone (318) 442-4421 Retired: INDEPENDENT AUDITORS' REPORT Fax (337) 63&4568 Fax (318) 442-9833 Conrad O. Chapman, CPA" 2006 Tynes E. Mixon, Jr., CPA 2011 WEB SITE P. Troy Coun/ille, CPA" 2013 WWW.KCSRCPAS.COM ' A Professional Accounting Corporation To the Board of Directors Boys and Girls Clubs of Acadiana, Inc. Lafayette, Louisiana We have audited the accompanying statements of financial position of Boys and Girls Clubs of Acadiana, Inc. (a nonprofit organization) as of December 31, 2012 and 2011, and the related statements of activities, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of intemal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, and the standards applicable to financial audits contained in Govemment 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to error or fraud. In making those risk assessments, the auditor considers intemal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's intemal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Member of: Member of: AMERICAN INSTITUTE OF SOCIETY OF LOUISIANA CERTIFIED PUBLIC ACCOUNTANTS CERTIFIED PUBLIC ACCOUNTANTS Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Boys and Girls Clubs of Acadiana, inc. as of December 31, 2012 and 2011, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 26, 2013, on our consideration of Boys and Girls Clubs of Acadiana, Inc.'s intemal control over financial reporting and on our 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 our testing of intemal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the intemal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Govemment Auditing Standards in considering Boys and Girls Clubs of Acadiana, Inc.'s intemal control over financial reporting and compliance. Kolder, Champagne, Slaven & Company, LLC Certified Public Accountants Lafayette, Louisiana June 26, 2013 FINANCIAL STATEMENTS BOYS AND GIRLS CLUBS OF ACADIANA, INC. Lafayette, Louisiana Statements of Financial Position December 31,2012 and 2011 2012 2011 ASSETS Current assets: Cash and cash equivalents $ 176,925 $ 139,222 Accounts receivable 40,585 41,697 Grants receivable 22,287 - Prepaid expenses 650 279 Total current assets 240,447 181,198 Property and equipment, net 863,735 903,837 Other assets: Utility deposits 1,512 1,512 Total assets $ 1,105,694 $ 1,086,547 LIABILITIES AND NET ASSETS Current liabilities: Accounts and payroll withholdings payable 30,564 S 81,688 Keystone/scholarships 3,363 6,570 Deferred revenue 48,221 11,200 Line of credit 48,000 40,000 Total current liabilities 130,148 139,458 Net assets: Unrestricted 884,333 856,025 Temporarily restricted 91,213 91,064 Total net assets 975,546 947,089 Total liabilities and net assets S 1,105,694 $ 1,086,547 The accompanying notes are an integral part of this statement. 4 BOYS AND GIRLS CLUBS OF ACADIANA, JNC. Lafayette, Louisiana Statements of Activities For The Years Ended December 31,2012 and 2011 2012 2011 Unrestricted net assets: Unrestricted revenues - Grants: United Way allocation 136,162 197,844 Government 96,531 59,166 Other grants 209,586 143,928 Total grants 442,279 400,938 Contributions and other: One Campaign 228,747 176,984 General contributions - 3,253 Civic clubs - 428 Corporate/Foundations 94,843 77,330 Associated organization and keystone 1,377 2,241 Donated facilities 107,890 107,890 Donated services 243,761 245,600 Membership dues 48,496 30,291 Concessions 1,275 2,430 Meeting income 4,650 4,795 Other income 2,796 6,735 Total contributions and other 733,835 657,977 Fundraising: Steak 'N Burger 140,450 150,000 Duck race 113,044 123,654 Celebrity waiter 77,055 58,914 Other events 49,053 73,476 Donated materials 83,997 42,665 Total fundraising 463,599 448,709 Total unrestricted revenues 1,639,713 1,507,624 (continued) BOYS AND GIRLS CLUBS OF ACADIANA, E^C. Lafayette, Louisiana Statements of Activities (Continued) For The Years Ended December 31, 2012 and 2011 2012 2011 Expenses - Program services: Education and recreation 865,523 1,070,209 Supporting services: Fundraising expense 424,872 482,182 Management and general 321,010 124,294 Total expenses 1,611,405 1,676,685 Increase (decrease) in unrestricted net assets 28,308 (169,061) Temporarily restricted assets: Capital campaign - interest 149 357 Increase in temporarily restricted assets 149 357 Increase (decrease) in net assets 28,457 (168,704) Net assets, beginning 947,089 1,115,793 Net assets, ending $ 975,546 S 947,089 The accompanying notes are an integral part of this statement. 6 BOYS AND GIRLS CLUBS OF ACADIANA, INC. Lafayette, Louisiana Statement of Functional Expenses For The Year Ended December 31,2012 Program Services Supporting Services Education Management and Fund- and Recreation Raising General Total Salaries, benefits and payroll taxes $ 556,791 $ - $238,926 $ 795,717 Accounting and auditing 4,875 - 975 5,850 Advertising (donated) - 243,761 - 243,761 Auto and travel 6,983 - 3,139 10,122 Awards 8,109 - 1,216 9,325 Bus expense 14,715 - - 14,715 Celebrity waiter - 33,932 - 33,932 Materials (donated) - 83,997 - 83,997 Drug testing and background 1,792 - - 1,792