City of Monroe, Louisiana

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City of Monroe, Louisiana Alii ANNUAL FINANCIAL REPORT CITY OF MONROE, LOUISIANA For The Year Ended April 30,2009 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 report is available for public inspection at the Baton Rouge office of the Legislative Auditor and, v/here appropriate, at the office of the parish clerk of court. Release Date. CITY OF MONROE Financial Statements As of And For The Year Ended April 30,2009 TABLE OF CONTENTS Statement Page Independent Auditors' Report 1 Required Supplemental Information (Part A) Management's Discussion and Analysis 4 BASIC FINANCIAL STATEMENTS GOVERNMENT-WIDE FINANCIAL STATEMENTS Statement of Net Assets A 15 Statement of Activities B 16 FUND FINANCIAL STATEMENTS Balance Sheet - Governmental Funds C 18 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Assets D 19 Statement of Revenues, Expenditures, and Changes In Fund Balances - Governmental Funds E 20 Reconciliation of the Statement of Revenues, Expenditures, And Changes in Fund Balances ~ Governmental Funds to the Statement of Activities F 21 Statement of Net Assets - Proprietary Funds G 22 Statement of Revenues, Expenses, and Changes in Net Assets - Proprietary Funds H 24 Statement of Cash Flows - Proprietary Funds I 25 Statement of Net Assets - Fiduciary Funds J 26 Statement of Changes in Fiduciary Net Assets - Fiduciary Funds K 27 Combining Statement of Net Assets - All Discretely Presented Component Units L 28 Combining Statement of Activities - All Discretely Presented Component Units M 29 CITY OF MONROE Financial Statements As of And For The Year Ended April 30,2009 TABLE OF CONTENTS Statement Page Notes to the Financial Statements 30 Required Supplemental Information (Part B) Budgetary Comparison Schedules: General Fund 68* Capital Infrastructure - Special Revenue Fund 70* OTHER SUPPLEMENTAL INFORMATION Non-Major Governmental Funds: Combining Balance Sheet 72* Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance 73* Non-Major Special Revenue Funds: Combining Balance Sheet 75* Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance 79* Non-Major Debt Service Funds: Combining Balance Sheet 84* Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance 85* Non-Major Capital Projects Funds: Combining Balance Sheet 87* Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance 89* Non-Major Enterprise Funds: Combining Schedule of Net Assets 93* Combining Schedule of Revenues, Expenses, and Changes in Net Assets 94* Combining Schedule of Cash Flows 95 * *Denotes Schedule CITY OF MONROE Financial Statements As of And For The Year Ended April 30,2009 TABLE OF CONTENTS Statement Page Proprietary Fund Type - Internal Service Funds: Combining Schedule of Net Assets 97* Combining Schedule of Revenues, Expenses, and Changes in Net Assets 98* Combining Schedule of Cash Flows 99* Schedule of Assessed Valuation and Ad Valorem Property Tax Levy 101 * Schedule of Ad Valorem Taxes Receivable 102* Schedule of Insurance 103* Schedule of Long-Term Obligations 106* Schedule of Compensation Paid 108* REPORTS REQUIRED BY GOVERNMENT AUDITING STANDARDS AND OMB CIRCULAR A-133 Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Primary Government Financial Statements Performed in Accordance With Government Auditing Standards 111 Report on Compliance With Requirements Applicable to Each Major Program and Internal Control Over Compliance in Accordance With OMB Circular A-133 113 Schedule of Expenditures of Federal Awards 115* Notes to Schedule of Expenditures of Federal Awards 116* Schedule of Findings and Questioned Costs 118* Summary Status of Prior Year Findings 129 Report on Compliance With Requirements Applicable To the Passenger Facility Charge Program and On Internal Control Over Compliance 137 PFC Revenue and Disbursement Schedule - Monroe Regional Airport 139* *Denotes Schedule John L. Luffey, MBA, CPA (1963-2002) Francis 1. Huffman, CPA PhillpA. Ragsdale.CPA David Ray Soignier, CPA, MBA toFEY, Hufl^iVlAN, PAGSDAI^E & $QIGNIER (A PROFESSIONAL ACCOUNTING CORPORATION) John Hennan, CPA Lynn Andries, CPA Esther Atteberry, CPA CERTIFIED PUBLIC ACCOUNTANTS Sandra Harrington, CPA INDEPENDENT AUDITORS* REPORT City of Monroe Monroe, Louisiana We have audited tiie accompanying financial statements of the governmental activities, the business type activities, each major fund, the fiduciary funds, and the aggregate remaining fund information of the City of Monroe, Louisiana (the City) as of and for the year ended April 30,2009, which collectively comprise the City's basic financial statements on pages 15 through 66 as listed in the accompanying table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express an opinion on these financial statements based on our audit We did not audit the financial statements of the Monroe City Court or the Monroe City Marshal, which represent the aggregate discretely presented component units. Those financial statements were audited by other auditors whose reports have been furnished to us, and our opinion on the financial statements, insofar as it relates to the amounts included in the component unit columns, is based on the reports of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, the standards for financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States and the Louisiana Governmental Audit Guide issued by the Louisiana Legislative Auditor and the Louisiana Society of Certified Public Accountants. 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 mcludes assessing the accounting principles used and sigiuficant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the reports of other auditors provide a reasonable basis for our opinion. In our opinion, based on our audit and the reports of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component units, each major fund, the fiduciary funds, and the aggregate remaining fund information of the City as of April 30, 2009, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. 1100 North 18th Street Monroe, Louisiana 71201 Tel- (318)387-2672 • Fax: {318)322-8866 • Website: www.afullservlcecpafirni.com MEMBERS OF THE AMERICAN INSTITl/TE OF CERTIFIED PUBLIC ACCOUNTAhn-S 1 City of Monroe Monroe, Louisiana In accordance with Government Auditing Standards, we have also issued our report dated October 31, 2009 on our consideration of the City's internal control over fmancial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grants. The purpose of that report is to describe the scope of our testmg of internal control over financial reporting and compliance and the results of that testmg, and not to provide an opinion on the internal control over financial reporting or compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. The Management's Discussion and Analysis and the budgetary information on pages 4 through 12 and pages 68 through 70 respectively, are not a required part of the basic financial statements but are supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic fmancial statements. The accompanying information listed as other supplemental information (including the schedule of expenditures of federal awards) and the budgetary comparison schedules listed as required supplementary information in the Table of Contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. This supplemental information is the responsibility of management of the City. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion is fairly presented in all material respects in relation to the basic financial statements taken as a w4iole. The accompanying schedule of expenditures of passenger facility charges on page 139 is presented for piurposes of additional analysis as specified in the Passenger Facility Charge Audit Guide for Public Agencies, issued by the Federal
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