bossier parish school board - louisiana€¦ · bossier parish school board benton, louisiana...

BOSSIER PARISH SCHOOL BOARDBenton, Louisiana

COMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE YEAR ENDED JUNE 30, 2004

J.W. Slack Kenneth N. KruithofPresident Superintendent

Prepared by the Department of Finance

Frank RougeauDirector of Finance and Business Affairs

Under provisions of state law. this report is a publicdocument. Acopy of the report has been submitted tothe entity and other appropriate public officials Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and^ whereappropriate, at the office of the parish clerk of court.

Release Date

Bossier Parish School BoardTable of Contents

INTRODUCTORY SECTIONTransraittal LetterGFOA Certificate of Achievement for Excellence in Financial ReportingASBO Certificate of Excellence in Financial ReportingOrganization ChartElected OfficialsSelected Administrative Officials

FINANCIAL SECTION

Independent Auditors' ReportRequired Supplemental Information

Management*s Discussion and Analysis (MD&A)Basic Financial Statements

Government-wide Financial Statements (GWFS)Statement of Net AssetsStatement of Activities

Fund Financial Statements (FFS)Governmental Funds:

Balance SheetReconciliation of the Governmental Funds Balance Sheetto the Statement of Net Assets

Statement of Revenues, Expenditures, and Changes in Fund BalancesReconciliation of the Governmental Funds Statement of Revenues,Expenditures, and Changes in Fund Balances to the Statement of Activities

Proprietary Funds:Statement of Net AssetsStatement of Revenues, Expenses, and Changes in Fund Net AssetsStatement of Cash Flows

Fiduciary Fund:Statement of Assets and Liabilities

Notes to the Basic Financial StatementsIndexNotes

Statement

AB

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i-wvviviiviiiix

1-23

4-18

19202123

24-25

2728-31

32

333435

36

3738-53

(Continued)


Exhibit Page

Required Supplemental InformationBudgetary Comparison Schedule

General FundSpecial Revenue Sales TaxNotes to Budgetary Comparison Schedules

Supplemental InformationCombining Nonmajor Governmental Funds - By Fund Type

Combining Balance Sheet - By Fund TypeCombining Statement of Revenues, Expenditures andChanges in Fund Balances - By Fund Type

Nonmajor Special Revenue FundsCombining Balance SheetCombining Statement of Revenues, Expenditures,

and Changes in Fund BalancesStatement of Revenues, Expenditures, and Changes

in Fund Balance - Budget (GAAP Basis) and ActualTitle ITitle ETitle mTitle IVTitle VSpecial EducationPreschoolRegion VH Service CenterSchool Food ServiceLouisiana Educational Excellence

1-11-2

2

3

4

5

54555657

58-59

606162

6365

66-67

68-69

6-16-26-36-46-56-66-76-86-96-10

70-717273747576777879

(Continued)


Exhibit Page

Supplemental Information (Continued)

NONMAJOR CAPITAL PROJECTS FUNDS 80Combining Balance Sheet 7 81Combining Statement of Revenues, Expenditures,and Changes in Fund Balances 8 82

AGENCY FUNDS 83Statement of Changes in Assets and Liabilities 9 84Schedule of Changes in Deposits Due Others 10 85

CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS 86Schedule by Source 11 87Schedule by Function and Activity 12 88

GENERALSchedule of Compensation Paid Board Members 13 89

TableSTATISTICAL SECTIONGovernment-Wide Information:

Government-wide Expenses by Function 1 90Government-wide Revenues 2 91

Basic Information:General Expenditures By Function - All Governmental Fund Types 3 92General Revenues By Source - All Governmental Funds 4 93Property Tax Levies and Collections 5 94Assessed and Estimated Actual Value of Taxable Property 6 95Property Tax Rates and Tax Levies - All Direct and Overlapping Governments 7 96Ratio of Net General Obligation Bonded Debt to Assessed Valueand Net General Obligation Bonded Debt per Capita 8 97

Statement of Direct and Overlapping Debt 9 98Computation of Legal Debt Margin 10 99Ratio of Annual Debt Service Expenditures for General Bonded Debtto Total General Expenditures 11 100

Revenue Bond Coverage - Sales Tax Bond 12 101Demographic Statistics 13 102Property Value, Construction and Bank Deposits 14 103Principal Taxpayers 15 104Attendance Data 16 105Schedule of Insurance in Force 17 106Miscellaneous Statistical Data 18 107-108

(Concluded)

Bossier Parish School BoardBenton, Louisiana

Kenneth N. KruithofSuperintendent

BOSSIER PARISH SCHOOL BOARDP.O. Box 2000

Benton, Louisiana 71006-2000Telephone (318) 549-5000

FAX (318) 549-5044 J. W. SlackPresident

Dr. Jack E. RaleyP.O. Box 85Haughlon, LA 71037

Transmittal Letter

Henry L Bums134 Chimney &foeHaughlon, LA 71D37District 2

George C. Finck167 Beaver LaneBentan, LA 71006District 3

Ronald A. GriggsP.O. Box 14Plain Dealing. LA 71064District^

Michael S. Mosura II6014 Jason StreetBossier City. LA 71111Oe&ictS

William C. Kostelka309 Audubon DriveBossier City, LA 71111District 6

J.W. SlackPresided2424 Douglas DriveBossier City. LA 71111District?

Kenneth M. Wiggins3201 Ctoverdate PlaceBossier City, LA 71111District 8

Gloria C. SJmison3116 Oliver StreetBossier City, LA 71112Districts

Julian Darby1130 Beverly StreetBossteraty,LA 71112District 10

Gary K. DowdenVice President2108 Venus DriveBossierClty.LA 71112District 11

Mack Knotts5007 KenSworth DriveBcsster City. LA 71112District

December 27,2004

Mr. J.W. Slack, Presidentand Board Members


Dear President and Members of the Board:

The Comprehensive Annual Financial Report of the Bossier Parish School Board, herein afterreferred to as the "School Board," for the fiscal year ended June 30,2004 is hereby transmitted. Thisreport has been prepared by following the guidelines recommended by the Association of SchoolBusiness Officials International and the Government Finance Officers Association of the UnitedStates of America and Canada. This letter of transmittal is designed to complement theManagement's Discussion and Analysis (MD&A) and should be read in conjunction with it.

A. Management Responsibility

Responsibility for both the accuracy of the data, and the completeness and fairness of thepresentation including all disclosures, rests with the School Board. We believe this report, aspresented, is accurate in all material aspects, and that it is presented in a manner that fairly sets forththe results of operations and financial position of the School Board. Further, all disclosuresnecessary to enable the reader to gain an adequate understanding of our system's financial affairshave been included.

B. Comprehensive Annual Financial Report

The Comprehensive Annual Financial Report consists of three sections: the introductory section, thefinancial section and the statistical section.

1. The Introductory Section. This section includes this letter of transmittal, the SchoolBoard's organizational chart, recognition of elected officials of the School Board, and a listof selected administrative officials.

BOSSIER PARISH SCHOOL SYSTEM"An Equal Opportunity Educational Agency"

2. The Financial Section. The School Board's financial statements and schedules are presented in accordancewith the standards set forth by the Governmental Accounting Standards Board. The financial sectionconsists of Management's Discussion and Analysis, basic financial statements, required supplementalinformation, and combining nonmajor and individual fund statements and schedules.

Combining nonmajor statements are presented when a School Board has more than one nonmajor fund of agiven fund type. Various statements are also used to demonstrate finance-related legal and contractualcompliance, present other information deemed useful, and provide details of data summarized in the financialstatements.

3. The Statistical Section. Included in this section is data prepared from both accounting and non-accountingsources for the purpose of reflecting financial trends and fiscal capacity of the School Board, as well as othersocial and economic information. The data is presented for the past ten years.

The School Board provides a full range of educational services appropriate to grade levels pre-kindergarten throughgrade 12. These services include regular and enriched academic education, special education for handicappedchildren, and vocational education. They also include providing instructional personnel, instructional materials,instructional facilities, food service facilities, administrative support, business services, systems operations, plantmaintenance and bus transportation. These basic services are supplemented by a wide variety of offerings in the finearts and athletics.

C. Reporting Entity

This report includes all entities or organizations that are required to be included in the School Board's reporting entity.The basic criteria for determining whether a governmental department, agency, institution, commission, public

authority, or other governmental organization should be included in a governmental unif s reporting entity is financialaccountability. Financial accountability includes the appointment of a voting majority of the organization's governingbody and either the ability of the primary government to impose its will on the organization or if mere is a financialbenefit/burden relationship. In addition, an organization which is fiscally dependent on the primary governmentshould be included in its reporting entity.

The financial statements present the Bossier Parish School Board (the primary government). Based on the abovecriteria, there are no component units included in the School Board's reporting entity.

D. Economic Condition and Outlook

Bossier Parish is located in northwest Louisiana and is a part of the economic "hub" for this region. During 2003-2004, Bossier Parish has continued to experience a considerable level of new construction. The new commercial andresidential construction are financial indicators of a stable economy. Tourist activity continues to be strong, primarilyas a result of riverboat gaming.

Barksdale Air Force Base, which currently employs over 7,000 people in the area, remains as viable and active as ithas in the past. The mission of Barksdale is still a major part of our national defense.

With the Red River connecting Bossier Parish to the city of Shreveport and Caddo Parish, the condition of theShreveport economy directly and indirectly affects Bossier Parish. The economy of Shreveport continues to be stable.Growth experienced in retail sales, employment, and residential and commercial construction are evidence of thisgrowth and stability. The continued expansion of the Caddo Bossier Port continues to have positive effects on theeconomy and provides a major link with other parts of the state. 1-20 and 1-49 continue to provide great access to thearea, Riverboat gaming continues to make a significant contribution to the local economy.

Sales tax collections for the School Board continue to be stable and exceeded 2002-2003 collections by $2,531,618.

E. Major Operational or Financial Concerns

Several issues such as classroom space in growing areas of the parish, teachers and support personnel pay,maintaining technology in our classrooms, and rising health costs are areas of concern. All of these issues influenceour first priority, which is the instructional program for our students.

F. Single Audit

The School Board is required to undergo an annual single audit in conformity with the provisions of the Single AuditAct Amendments of 1996 and U.S. Office of Management and Budget Circular No. A-133, Audits of States. LocalGovernments, and Non-profit Organizations. Information related to this single audit includes the Schedule ofExpenditures of Federal Awards, findings and recommendations, if applicable, and auditors' reports on internalcontrol and compliance with applicable laws, regulations, contracts and agreements. Bossier Parish School Board hascontracted with an independent auditor to conduct the annual audit. Our independent auditor performed a single auditfor the fiscal year ended June 30,2004, and has issued the single audit report under a separate binder.

G. Internal Control

The management of the School Board is responsible for establishing and maintaining a system of internal control.The objectives of a system of internal control are to provide reasonable, assurance that School Board policy,administrative and accounting procedures, and grant administration procedures are fully implemented and are beingadhered to. In addition, internal controls are designed to provide reasonable, assurance regarding: (1) thesafeguarding of assets against loss from unauthorized use or disposition and (2) the reliability of financial records forpreparing financial statements and maintaining accountability for assets.

All.internal control evaluations occur within the above framework. We believe the School Board's internal controlsadequately safeguard assets and provide reasonable assurance of proper recording of financial transactions.

As a part of the School Board's single audit, described earlier, tests are made to determine the adequacy of internalcontrol, including that portion related to federal awards programs, as well as to determine that the School Board hascomplied with applicable laws and regulations. The results of the School Board's single audit for the fiscal year endedJune 30,2004, provided no instances of material weaknesses in the internal control structure or significant violationsof applicable laws and regulations.

H. Budgetary Control

In addition, the School Board maintains budgetary controls to ensure compliance with legal provisions embodied inthe annual appropriated budget approved by the School Board. Activities of the general fund and special revenuefunds are included in the annual appropriated budget. The level of budgetary control (that is, the level at whichexpenditures cannot legally exceed the appropriated amount) is established by function by fund. School Board policyprovides that expenditures within a fund may not exceed appropriations by more than five percent. Revisions to thebudget require School Board approval.

I. Cash Management

Cash temporarily idle during the year was invested in demand deposits, certificates of deposits, and instruments issuedby the United States Government or its federal agencies. Deposits in financial institution's are also collateralized byinstruments issued by the United States Government or federal government agencies created by an act of Congress

m

and insured by the Federal Deposit Insurance Corporation. The School Board earned interest revenue of $304,702 forthe fiscal year ended June 30, 2004. Interest was distributed as follows:

General Fund $125,742Debt service 40,472Bossier Education Excellence Permanent 131,779Other Governmental 6,709

J. Risk Management

The School Board maintains a combination of self-insurance and stop-loss coverage to manage its risk of loss fromproperty damage, theft, and claims against employees. The School Board is self-insured for group hospitalization.

K. Independent Audits The report of our independent certified public accountants, Allen, Green & Williamson,LLP, follows as an integral component of this report. Their audit of the basic financial statements and accompanyingcombining and individual fund statements and schedules was performed in accordance with auditing standardsgenerally accepted in the United States of America and, accordingly, included a review of the School Board's systemof budgetary and accounting controls.

L. Awards The Government Finance Officers Association (GFOA) of the United States andCanada issues a Certificate of Achievement for Excellence in Financial Reporting and theAssociation of School Business Officials International (ASBO) issues a Certificate of Excellence inFinancial Reporting to governments for their Comprehensive Annual Financial Report (CAFR). Tobe awarded these certificates, a government must publish an easily readable and efficiently organizedComprehensive Annual Financial Report, whose contents conform to program standards. Suchreports must satisfy both accounting principles generally accepted in the United States of Americaand applicable legal requirements. These certificates are valid for a period of one year only. The

School Board has received both certificates for each year, beginning with fiscal year ended June 30, 1991 .

Management believes that the Comprehensive Annual Financial Report for the fiscal year ended June 30, 2004, whichwill be submitted to GFOA and ASBO for review, continues to conform to the principles and standards of eachorganization.

M. Acknowledgments It is our desire that mis report contains the necessary information and data, which willprovide a better understanding of the operations of the school system. It is further hoped that this report has beendesigned in a manner to be used as an administrative tool and general source of information so as to enhance ouraccountability.

Respectfully submitted,

TS«-A/u-v<-*^*_ l\ ,. TWuwsl*-^/r~. £Kenneth N. KruithofSuperintendent

0Frank RougeauDirector of Finance

IV

Certificate ofAchievementfor Excellence

in FinancialReporting

Presented to

Bossier Parish School Board,

Louisiana

For its Comprehensive Annual

Financial Report

for the Fiscal Year Ended

June 30, 2003

A Certificate of Achievement for Excellence in FinancialReporting is presented by the Government Finance Officers

Association of the United States and Canada togovernment units and public employee retirementsystems whose comprehensive annual financial

reports (CAFRs) achieve the higheststandards in government accounting

and financial reporting.

Executive Director

of SCHOOL *VSINEs

\£i>V INTERNATIONAL

This Certificate of Excellence in Financial Reporting is presented to

BOSSIER PARISH SCHOOL BOARDFor its Comprehensive Annual Financial Report (CAFR)

For the Fiscal Year Ended June 30, 2003

Upon recommendation of the Association's Panel of Review which has judged the Reportsubstantially conforms to principles and standards of ASBO's Certificate of Excellence Program

\ Executive Director

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Bossier Parish School Board

Elected OfficialsJune 30,2004

District

Dr. JackE. Raley

Henry L. Burns

George C. Finck

Ronald A. Griggs

Michael S. Mosura,

William C. Kostelka

J. W. Slack

Kenneth M. Wiggins

Gloria C. Simison

Julian Darby

Gary K. Dowden

Mack Knotts

1

2

3

4

5

6

7

8

9

10

11

12

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Selected Administrative OfficialsJune 30,2004

Superintendent

Assistant Superintendent of Administration

Assistant Superintendent of Curriculum andAcademic Affairs

Kenneth N. Kruithof

D. C. Machen

Ann Alford

Directors:

Technology

Special Education

Student Services

Maintenance/Purchasing

Instructional Services

Finance/Business Affairs/Insurance

Human Resources

Bill Allied

Martha Gormanous

Bettye McCauley

Keith Norwood

Sally Namie

Frank Rougeau

Bill Tynes

IX

ALLEN, GREEN & WILLIAMSON, LLPCERTIFIED PUBLIC ACCOUNTANTS Margie Williamson, CPA

P. O. Box 6075£ Monroe, LA 71211-6075•V 2414 Ferrand Street Phone: (318) 388-4422 Ernest L. Allen, CPA

Monroe, LA 71201 Fax: (318) 388-4664 (Retired)-u.™ 1963 - 2000

Never UndeiSfte The Wurf" Toll-free: (BBS) 741 -0205www.allengreencpa.com

INDEPENDENT AUDITORS' REPORT

Board MembersBossier Parish School BoardBenton, Louisiana

Basic Financial Statements We have audited the accompanying/Jnonc/a/ statements of the governmental activities,each major fund, and the aggregate remaining fund information of Bossier Parish School Board as of and for the yearended June 3 0,2004, which collectively comprise the School Board's basic financial statements, as listed in the tableof contents. These financial statements are the responsibility of the School Board's management. Our responsibilityis to express opinions 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 andthe standards applicable to financial audits contained in Government Auditing Standards, issued by the ComptrollerGeneral of the United States of America. Those standards require mat we plan and perform the audit to obtainreasonable assurance about whether the financial statements are free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit alsoincludes assessing the accounting principles used and significant estimates made by management, as well asevaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for ouropinions.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respectivefinancial position of the governmental activities, each major fund and the aggregate remaining fund information of theSchool Board as of June 30,2004, 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 ofAmerica.

In accordance with Government Auditing Standards, we have also issued under separate cover, our report datedDecember 27,2004, on our consideration of the School Board's internal control over financial reporting and on ourtests 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 internal control over financial reporting andcompliance and the results of that testing, and not to provide an opinion on the internal control over financialreporting or on compliance. That report is an integral part of an audit performed in accordance with GovernmentAuditing Standards and should be considered in assessing the results of our audit.

Required Supplemental Information The Management's Discussion and Analysis and the Budgetary ComparisonSchedules as listed in the table of contents, are not a required part of the basic financial statements but issupplemental information required by the Governmental Accounting Standards Board. We have applied certainlimited procedures, which consisted principally of inquiries of management regarding the methods of measurementand presentation of the required supplemental information. However, we did not audit the information and express noopinion on it

Also Located in Jena and Shreveport, LouisianaMember American Institute of Certified Public Accountants, Society of Louisiana Certified Public Accountants and

American Institute of Certified Public Accountants Division for CPA FinnsEqual Opportunity Employer

Supplemental Information Our audit was performed for the purpose of forming opinions on the financialstatements that collectively comprise the School Board's basic financial statements. The accompanying informationidentified in the table of contents as supplemental information is presented for purposes of additional analysis and isnot a required part of the basic financial statements. Such information has been subjected to the auditing proceduresapplied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material respects, inrelation to the basic financial statements taken as a whole.

Other Information The information identified in the table of contents as the Introductory and Statistical Sections arepresented for purposes of additional analysis and is not a required part of the basic financial statements of the SchoolBoard. Such information has not been subjected to the auditing procedures applied in the audit of the basic financialstatements and, accordingly, we express no opinion on it.

/

ALLEN, GREEN & WILLIAMSON, LLP

Monroe, LouisianaDecember 27,2004


REQUIRED SUPPLEMENTAL INFORMATION

MANAGEMENT'S DISCUSSIONAND ANALYSIS (MD&A)


Management's Discussion and Analysis (MD&A)June 30,2004

The discussion and analysis of Bossier Parish School Board's financial performance provides an overall review of theSchool Board's financial activities for the fiscal year ended June 30,2004. The intent of this discussion and analysisis to look at the School Board's financial performance as a whole; readers should also review the transmittal letter,notes to the basic financial statements and financial statements to enhance their understanding of the School Board'sfinancial performance.

The Management's Discussion and Analysis (MD&A) is an element of the new reporting model adopted by theGovernmental Accounting Standards Board (GASB) in their Statement No. 34 Basic Financial Statements - andManagement's Discussion and Analysis - for State and Local Governments issued June 1999.

FINANCIAL HIGHLIGHTS

Key financial highlights for the fiscal year ended June 30,2004, are as follows:

Governmental funds reported a net change excess of $4,462,428 which includes in the General Fund an excess of$3,206,819, a deficiency in the Debt Service Fund of ($142,612), an excess in the Bossier Education ExcellencePermanent Fund of $1,756,205, and a deficiency in Other Governmental Funds of ($357,984).

Total revenues for all governmental funds increased $6,876,311. This was due largely to increased sales taxcollections, increased Minimum Foundation Program funding and increased federal grant funding.

Total spending for all programs was $130,271,701. Most of the School Board's taxes and state Minimum FoundationProgram Funds were used to support the cost of these six areas: regular program instruction - $46,490,344; specialprograms instruction - $15,838,839; student transportation - $6,592,753; plant services - $12,636,558; otherinstructional - $11,324,648 and school food service - $7,862,144.

USING THIS COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR)

This annual report consists of a series of financial statements and notes to those statements. These statements areorganized so that the reader can understand Bossier Parish School Board as an entire operating entity. The statementsthen proceed to provide an increasingly detailed look at specific financial activities.

The Statement of Net Assets and the Statement of Activities provide information about the activities of the SchoolBoard as a whole, presenting both an aggregate view of the School Board's finances and a longer-term view of thosefinances. Fund financial statements provide the next level of detail. These statements tell how services were financedin the short-term as well as what remains for future spending. Fund statements also may give some insights into theSchool Board's overall financial health. Fund financial statements report the School Board's operations in more detailthan the government-wide financial statements by providing information about the School Board's most significantfunds - such as the School Board's General Fund, Sales Tax Fund, Debt Service Fund, and Bossier EducationExcellence Permanent Fund. The remaining statement - the Statement of Fiduciary Assets and Liabilities presentsfinancial information about activities for which the School Board acts solely as an agent for the benefit of studentsand parents.



Comprehensive AnnualFinancial Report

Introductory SectionTransmittal Letter

Certificates of Excellence in Financial ReportingOrganization Chart

Elected Officials and Selected Administrative Officers

Financial Section(Details outlined in the next chart)

Statistical SectionTen Years of Historical Financial Operating DataTen Years of Property Tax Rates, Tax Levies and

CollectionsBonded Debt Information (including Bonded Debt Per

Capita and Computation of Legal Debt Margin)Property Values, Construction and Bank DepositsPrincipal Employers and Ad Valorem Taxpayers

Demographics and Attendance Data



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Our auditors have provided assurance in their independent auditors' report, located immediately preceding thisManagement's Discussion and Analysis, that the Basic Financial Statements are fairly stated. The auditors have alsoprovided varying degrees of assurance regarding the Required Supplemental Information and the SupplementalInformation identified above. A user of this report should read the independent auditors' report carefully to ascertainthe level of assurance being provided for each of the other parts in the Financial Section.

The School Board assumes full responsibility for the accuracy of the Introductory and Statistical Sections as they wereprepared without the association of the independent auditors.



REPORTING THE SCHOOL BOARD AS A WHOLE

The Statement of Net Assets and the Statement of Activities

While these documents contain the large number of funds used by the School Board to provide programs andactivities, the view of the School Board as a whole looks at all financial transactions and asks the question, "How didthe School Board do financially during the fiscal year ended June 30,2004?" The Statement of Net Assets and theStatement of Activities answer this question. These statements include all assets and liabilities using the accrualbasis of accounting similar to the accounting method used by most private-sector companies. This basis ofaccounting considers all of the current year's revenues and expenses regardless of when cash is received or paid.

These two statements report the School Board's net assets - the difference between assets and liabilities, and changeshi those assets. This change hi net assets is important because it tells the reader that, for the School Board as a whole,the financial position of the School Board has improved or diminished. The relationship between revenues andexpenses is the School Board's operating results. However, the School Board's goal is to provide services to itsstudents, not to generate profits as commercial entities do. One must consider many other non-financial factors, suchas the quality of the education provided and the safety of the schools to assess the overall health of the School Board.

The Statement of Net Assets and Statement of Activities report the following activity for the School Board:

Governmental activities - All of the School Board's services are reported here, including instruction, plantservices, transportation, and food services. Property taxes, sales taxes, Minimum Foundation Program funds, andstate and federal grants finance most of these activities.

REPORTING THE SCHOOL BOARD'S MOST SIGNIFICANT FUNDS

Fund Financial Statements

The School Board's fund financial statements provide detailed information about the most significant funds - not theSchool Board as a whole. Some funds are required to be established by state law and by bond covenants. However,the School Board establishes many other funds to help it control and manage money for particular purposes (like theSchool Food Service) or to show that it is meeting legal responsibilities for using certain taxes, grants, and othermoney (for example grants received from the U.S. Department of Education). The School Board's governmentalfunds use the following accounting approach:

Governmental funds - Most of the School Board's activities are reported hi governmental funds, which focus onhow money flows into and out of funds and the balances left at year-end that are available for spending in futureperiods. They are reported using an accounting method called modified accrual accounting, which measurescash and all other financial assets that can readily be converted to cash. The governmental fund statementsprovide a detailed short-term view of the School Board's operations and the services it provides. Governmentalfund information helps the reader determine whether there are more or fewer financial resources that can be spentin the near future to finance the School Board's programs. The relationship (or differences) between

Bossier Parish School BoardBen ton, Louisiana


governmental activities (reported in the Statement of Net Assets and the Statement of Activities) andgovernmental funds is reconciled in Statements D and F.

Proprietary funds - When the School Board charges customers for the services it provides - whether to outsidecustomers or to other units of the School Board - these services are generally reported in proprietary funds.Proprietary funds are reported in the same way that all activities are reported in the Statement of Net Assets andthe Statement of Activities. The School Board uses internal service funds (the other component of proprietaryfunds) to report activities that provide supplies and services for the School Board's other programs and activities- the employee group health fund.

THE SCHOOL BOARD AS TRUSTEE

Reporting the School Board's Fiduciary Responsibilities

The School Board is the trustee, or fiduciary, for its student activities fund. All of the School Board's fiduciaryactivities are reported in separate Statements of Fiduciary Assets and Liabilities. These activities are excluded fromthe School Board's other financial statements because the School Board cannot use these assets to finance itsoperations. The School Board is responsible for ensuring that the assets reported in these funds are used for theirintended purposes.

THE SCHOOL BOARD AS A WHOLE

The School Board's net assets were $60,611,93 8 at June, 3 0,2004. Of this amount, $8,13 7,662 was the unrestrictednet assets. Restricted net assets are reported separately to show legal constraints from debt covenants and enablinglegislation that limit the School Board's ability to use those net assets for day-to-day operations. The analysis belowfocuses on the net assets (Table 1) and change in net assets (Table 2) of the School Board's governmental activities.



TABLE 1Net Assets (in Millions)

June 30,

Current and other assetsRestricted assetsCapital assets

Total assetsCurrent and other liabilitiesLong-term liabilities

Total liabilitiesNet assets

Invested in capital assets, net of related debtRestrictedUnrestricted

Total net assets

The $8,137,662 in unrestricted net assets of governmental activities represents accumulated results of all past years'operations. It means that if the School Board had to pay off all of its bills today including all of its non-capitalliabilities (compensated absences for example), there would be a surplus of $8,137,662.

The net assets for the School Board increased by $5,951,103 during the fiscal year ended June 30, 2004. Thisincrease was caused by several factors, the most important being the increase of sales tax collections and increase inthe Minimum Foundation Program funding.

The results of this year's operations for the School Board as a whole are reported in the Statement of Activities. Table2, on the next page, takes the information from that Statement, rounds off the numbers, and rearranges them slightlyso that the reader can see total revenues for the year.

GovernmentalActivities

2004

36.612.7

51.9

101.2

15.1

25.5

40.6

35.0

17.5

8.1

60.6

2003

33.6

11.0

52.4

97.0

14.8

27.5

42.3

33.3

15.8

5.6

54.7

TotalPercentage

Change

2003-2004

9.1

15.5

(1.0)4.4

2.0

(7.3)

(4.0)

5.1

10.5

46.2

10.9



TABLE 2Changes in Net Assets (in millions)

Fiscal Years Ended June 30,

Revenues:Program Revenues

Charges for ServicesOperating Grants and Contributions

General RevenuesAd Valorem TaxesSales TaxesState EqualizationBEEF (Gaming Revenues)Other General Revenues

Total Revenues

Funtiou/Program Expenses:Instruction

Regular ProgramsSpecial ProgramsOther Instructional Programs

Support ServicesStudent ServicesInstructional Staff SupportGeneral AdministrationSchool AdministrationBusiness ServicesPlant ServicesStudent Transportation ServicesCentral Services

Food ServicesCommunity Service ProgramsInterest on Long-Term Debt

Total Expenses

Increase (Decrease) in Net Assets

Net Assets - Beginning

Net Assets - Ending

2004

2215.2

20.025.164.3

1.76.2

134.7

5.9

54.7

2003

2.212.8

20.622.662.2

1.56.0

127.9

47.115.911.7

5.8122.17.50.6

14.66.31.08.00.20.8

128.8

45.115.710.0

5.07.11.47.51.1

10.86.70.97.70.30.9

120.2

7.7

47.0

60.6 54.7

TotalPercentage

Change2Q03-20Q4

0.018.8

(2.9)11.13.4

13.33.3

5.3

4.41.3

17.0

16.01.4

50.00.0

(45.5)35.2(6.0)11.13.9

(33.3)(11.1)

7.2

(23.4)

16.4

10.8

10



Ad valorem taxes, 14.9%

Minimum Foundationprogram, 47.7%

Sales & use taxes, 18.7%

Charges for Services, 1.7%

Grants & contributions notrestricted to specific

programs, 5.8%

Operating grants &contributions, 11.3%

Revenues by Source - Governmental Activities

1 Grants and Contributions Not Restricted to Specific Programs: The single largest source of revenue to theBossier Parish School Board for grants and contributions not restricted to a specific program is the StateEqualization or commonly called the Minimum Foundation Program (MFP). The MFP distribution is based on aformula adopted by the Louisiana Board of Elementary and Secondary Education and approved by the LouisianaLegislature. The chart below lists the actual increases or decreases in MFP funds for the past three years.

Fiscal Year2001-20022002-20032003-2004

General57,730,54460,455,37062,529,566

School FoodService1,679,0041,751,3141,751,314

Total MFP59,409,54862,206,68464,280,880

Increase2,490,4522,797,1362,074,196

4.4%4.7%3.3%

In FY 2003-2004, the School Board received $64,280,880 or 47.7% of its total revenue from the MFP. Theserevenues are deposited hi the General Fund and the School Food Service Fund only. Most of the $2,074,196 or3.3% increase was used for salary increases.

Sales and Use Tax Revenues: Sales and use tax revenues are the second largest source of revenues for theBossier Parish School Board. A 1.5% sales tax rate is levied upon the sale and consumption of goods andservices within the parish. The chart below lists the sales and use tax revenues for the past three years.

11



Fiscal Year2001-20022002-20032003-2004

Sales Tax22,450,84022,605,12525,136,743

Increase46,394 0.2%

154,285 0.7%2,531,618 11.2%

All sales and use tax revenues are deposited into the Sales Tax Fund from which it is transferred to fund primarilythe operations of the School Board. This represents 18.7% of the total revenues received. Sales tax revenuereceived in fiscal 2004 has significantly increased over the amount received in the previous year.

Ad Valorem Tax Revenues: Ad valorem tax revenues, also called property tax revenues, are the third largestsource of revenue for the School Board. Ad valorem collections are based upon the number of mills (approvedannually by the School Board) and the taxable assessed value (established by the Bossier Parish Tax Assessor),subject to the limitations approved by the voters and the Louisiana Legislature. The chart below lists the advalorem tax deposits for the past three years.

TotalAd Valorem

Fiscal Year General Debt Service Taxes Increase (decrease)2001-20022002-20032003-2004

17,643,48519,320,94018,827,632

1,638,687 '1,232,2081,208,249

19,282,17220,553,14820,035,881

2,2 11 ,2471 ,270,976(517,267)

13.0%6.6%

(2.5%)

In FY 2003-2004, the School Board deposited $20,035,881 of ad valorem tax revenues into the General Fund andthe Debt Service Fund. This represents 14.9% of the total revenues received. Ad valorem tax revenues in FY2003-2004 decreased in the General Fund as a result of reduced delinquent tax collections compared to theprevious year.

Operating Grants and Contributions: Operating grants and contributions are the fourth largest source ofrevenues for the School Board. This revenue type is primarily comprised of federal grants with some state grantsincluded. These grants and contributions are specifically restricted to certain programs, and therefore, are nettedagainst the costs of these programs to show a true net cost The chart below shows the operating grants andcontributions by fund source.

NonmajorSpecial

Fiscal Year General Revenue Total Increase (decrease)2001-20022002-20032003-2004

5,261,5903,072,9365,211,671

8,874,8669,723,8019,976,094

14,136,45612,796,73715,187,765

981,204 7.5%(1,339,719) (9.5)%2,391,028 18.7%

In FY 2003-2004, the School Board received $15,187,765 in operating grants and contributions. The 18.7%increase in FY 2003-2004 is the result of increased Title I program funding and increased IDEA funding.

12



Program Expenses and Revenues - Governmental Activities

Expenses are classified by functions/programs. The related revenues are comprised of specific charges for theservices and operating grants and contributions received to offset the expenses for the specific program.

Instructional services for fiscal 2004 totaled $87,734,558,68.1% of total expenditures. The remaining expendituresare considered support services and related to those functions that support the instructional services provided, such asadministration, transportation, food services, and plant services. Support services for fiscal 2004 totaled $40,249,974,31.09% of total expenditures.

The remaining expenditures of $798,494, .8% of total expenditures consist of interest expense on long-termobligations.

The program revenues and charges for services for fiscal 2004 directly related to these expenses totaled $ 17,431,661which resulted in net program expense of $111,351,365. These net program expenses are funded by general revenuesof the School Board.

Revenues for the School Board increased 6,876,311, 5.3% from the previous year due mainly to increased sales taxcollections, increased Minimum Foundation Program funding, and increased federal grant funding.

Expenditures for the School Board increased $8,567,354,7.2% from the previous year due mainly to salary increases,employee's retirement contribution payments due to a rate increase, and increases in group insurance costs.

Governmental Activities

As reported in the Statement of Activities, the cost of all governmental activities this year was $128,783,026.

13



The table below presents the cost of each of the School Board's six largest functions - regular instructional programs,special instructional programs, other instructional, plant services, student transportation services, and food services, aswell as each program's net cost (total cost less revenues generated by the activities). As discussed above, net costshows the financial burden that was placed on the School Board's taxpayers by each of these functions. Providing thisinformation allows the analysis of the cost of each function in comparison to the benefits provided by that function.

Regular Programs

Special ProgramsOther InstructionalPlant ServicesStudent Transportation Services

Food Services

All Other

Totals

Total Cost ofService

200447.2

15.9

11.7

14.6

6.3

8.0

25.2

128.8

200345.1

15.7

10.0

10.8

6.7

7.7

24.2

120.2

TotalPercentage

Change

2003-20044.5%

1.6%

16.4%

34.6%

(4.9)%3.4%

4.1%

7.1%

Net Cost ofService

200445.6

13.7

9.114.2

6.1

2.0

20.6

111.4

200341.5

13.0

9.9

10.8

6.6

1.9

21.4

105.2

TotalPercentage

Change

2004-2003

9.8%

5.6%

(8.8)%31.5%

(7.6)%

5.6%

(3.8)%

5.8%

The increases in regular programs, special programs, and other instructional increases are due to an increase insalaries and a large increase in benefits/insurance. Student transportation services increased due to the purchase ofadditional buses, the increased cost of gasoline and additional payments to the self-insured employee group healthfund for claim liabilities.

For the fiscal year ending June 30,2004, the School Board experienced an increase in net assets of $5,951,103.

14

Bossier Parish School BoardBen ton, Louisiana


Governmental ActivitiesNet Cost of Services

For the Year Ended June 30,2004

Special programs,12.3%

Other instructionalprograms, 8.1%

Regular programs,40.9%

Plant services, 12.7%

Student transportatservices, 5.5%

Food services, 1.8

AllOther, 18.5%

15



THE SCHOOL BOARD'S FUNDS

As the School Board completed this year our governmental ftmds reported a combined fund balance of $31,73 8,184which is an increase of $4,462,428 from last year. The primary reasons for these increases are:

General Fund experienced an increase in fund balance of $3,206,819. Revenues increased $1,102,398 fromadditional state Minimum Foundation Program payments of $2,074,196 and other revenues increased $829,467.The expenditures in the general fund increased $6,352,362 due mainly to regular instruction increasing$2,003,232, special programs increasing $1,008,587, other instructional programs increasing $1,071,026,student services increasing $628,328, and plant services increasing $2,315,436 from 2003 to 2004.

Sales Tax Fund revenues increased $2,531,618, while expenditures experienced a slight increase of 11,536 from2003 to 2004.

Debt Service experienced a decrease in fund balance of 142,612. Revenues decreased $41,583 and expendituresdecreased $26,500 from 2003-2004.

Bossier Education Excellence Permanent Fund experienced an increase in fund balance of $1,756,205,Revenues increased $110,970 while expenditures decreased $131,748.

At June 30, 2004, the School Board had $19,350,491 in reserves of fund balance. Of the fund balance reserved,$4,392,270 were collections of ad valorem taxes reserved for payment of long-term debt; $12,662,540 were reservedfor instructional enhancement; $26,244 were reserved for inventory on hand at the year end; $308,964 were reservedfor prepaid items; and $1,960,473 were reserved for encumbrances.

General Fund Budgetary Highlights

Over the course of the year, the School Board revises its budget as it attempts to deal with unexpected changes inrevenues and expenditures. The final amendment to the budget was actually adopted after the end of the year whichis not prohibited by state law. A schedule showing the School Board's original and final budget amounts comparedwith amounts actually paid and received is provided in our annual report.

There were significant revisions made to the 2003-2004 general fund original budget. Budgeted revenueswere increased $8,575,514 due largely to increases made to Minimum Foundation Program payments of$2,074,196, other state sources of $585,057, federal sources of $119,559, transfers from other funds of$3,010,617, and adjustments made to beginning fund balance of $2,419,051. Budgeted expenditures wereincreased because of the increase in budgeted revenues.

16



CAPITAL ASSET AND DEBT ADMINISTRATION

Capital Assets

As For Year Ended June 3 0,2004, the School Board had $51,924,181 (net of accumulated depreciation) invested in abroad range of capital assets, including land, buildings, and furniture and equipment This amount represents a netdecrease (including additions, deductions, and depreciation) of $518,339, or .01 percent, from last year.

Capital Assets at June30, (in millions)

Governmental Activities2004 2003

Land $ 0.6 $ 0.6Buildings 43.1 45.1Furniture and equipment 6.9 5.0Transportation equipment 1.4 1.7

Totals $ 52.0 $ 52.4

This year's additions of 4,152,855 included six modular classrooms, building improvements, various computer-related, and vocational equipment.

More detailed information about our capital assets is presented in Note 6 to the financial statements.

Debt

At the end of this year, the School Board had $13,855,000 in bonds outstanding versus $14,560,000 last year, adecrease of 4.8% percent. The Outstanding debts consisted of:

Outstanding Debt of June 30, (in millions)

Governmental Activities2004 2003

Bonds Payable $ 13.9 $ 14.6Notes Payable 0.2 0.3Certificates of Indebtedness 0 0.7QZAB Loan Payable 2.6 2.8Capital Lease 0.4 0.9

Totals $ 17.0 $ 19.3

The School Board maintains a bond rating of A2 from Moody's and a A from Standard & Poor's for its generalobligation bonds. The state limits the amount of general obligation debt that can be issued to 35 percent of theassessed value of all taxable property within the School Board's corporate limits. The School Board's net bondedgeneral obligation debt of $9,462,730 (total bonded debt of $13,855,000 less assets in debt services funds of$4,392,270) is significantly below this $182,810,807 statutory-imposed limit.

17



Net general obligation bonded debt $9,462,730Ratio of net debt to total assessed value 1.8%Net debt per capita . $93

Other obligations include accrued vacation pay and sick leave. We present more detailed information about our long-term liabilities in Note 12 to the financial statements.

ECONOMIC FACTORS AND NEXT YEAR'S BUDGETS

The School Board is financially strong with a total fund balance in the governmental funds of $31,738,184. Thebudget for the 2004-2005 year includes a conservative 2% increase hi budgeted revenue and a 2% increase inbudgeted expenditures. The increase in budgeted revenues is primarily due to an increase hi Minimum FoundationProgram funding and continued growth hi sales and property taxes. The increase in budgeted expenditures is largelydue to salary increases and increased employee benefit costs.

CONTACTING THE SCHOOL BOARD'S FINANCIAL MANAGEMENT

Our financial report is designed to provide our citizens, taxpayers, parents, students, investors and creditors with ageneral overview of the School Board's finances and to show the School Board's accountability for the money itreceives. If you have questions about this report or wish to request additional financial information, please contactFrank Rougeau, Director of Finance and Business Affairs, at Bossier Parish School Board, 316 Sibley Street, Benton,LA 71006, telephone number (318) 549-5000.

18


BASIC FINANCIAL STATEMENTS:

GOVERNMENT-WIDEFINANCIAL STATEMENTS (GWFS)

19

BOSSIER PARISH SCHOOL BOARD

STATEMENT OF NET ASSETSJune 30, 2004

Statement A

GOVERNMENTAL

ACTIVITIES

ASSETSCash and cash equivalents

Receivables (net)

Inventory

Prepaid items

Bond issuance costs, net of accumulated amortization

Restricted assets:

Cash and cash equivalents

Investments

Receivables

Capital assets:

LandExhaustible capital assets, net of depreciation

TOTAL ASSETS

LIABILITIESAccounts payable

Deferred revenue

Interest payable - bonds and certificates of indebtedness

Long-term liabilities;

Due within one year

Due in more than one year

TOTAL LIABILITIES

31,628,873

4,568,50634,370

308,964

76,643

403,474

12.136,059

129,774

557,469

51.366.712

101.210.844

14,840,032

8,126260,475

3,884,699

21.605.574

40,598,906

NET ASSETSInvested in capital assets, net of related debt

Restricted for:

Debt service

Instructional enhancement:

Expendable

NonexpendableUnrestricted

TOTAL NET ASSETS

34,979,399

4,832,337

243,381

12,419,159

8.137.662

60.611.938

THE NOTES TO THE BASIC FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.

20


STATEMENT OF ACTIVITIESFor the Year Ended June 30, 2004

Statement B

FUNCTIONS/PROGRAMS

Governmental activities:

Instruction:

Regular programs

Special programs

Other instructional programs

Support services:

Student services

Instructional staff support

General administration

School administration

Business services

Plant services

Student transportation services

Central services

Food services

Community service programs

Interest on long-term debt

Total Governmental Activities

PROGRAM REVENUES

EXPENSES

CHARGES FOR

SERVICES

OPERATING

GRANTS AND

CONTRIBUTIONS

NET (EXPENSE)

REVENUE AND

CHANGES IN

NET ASSETS

$ 47,141,942 $

15,917,187

11,695,485

5,828,926

7,151,018

2,061,600

7,493,557

629,988

14,580.060

6,328,866

973,834

7,974,793 $ 2,243,896

207,276798.494 0

128.783.026 2.243.896

1,558,870 $

2,226,150

2,619,656

1,062,347

2,246,581

890,861

163,859

122,733

386,489

188,749

26,697

3,690,384

4,389

0

15.187.765

(45,583,072)

(13,691,037)

(9,075,829)

(4,766,579)

(4,904,437)

(1,170,739)

(7,329,698)

(507,255)

(14,193,571)

(6,140,117)

(947,137)

(2,040,513)

(202,887)

(798.4941

fill. 351 .3651

General revenues:

Taxes:

Ad valorem taxes levied for general purposes 1,599,806

Ad valorem taxes levied for debt service purposes 1,208,249Ad valorem taxes levied for maintenance and opers 3,614,379Ad valorem taxes levied for salaries and benefits 13,613,447

Sales taxes levied for salaries, benefits, and geners 25,136,743State revenue sharing 556,017

Grants and contributions not restricted to specific programsMinimum Foundation Program 64,280,880BEEF (Gaming revenues) 1,650,892

Interest and investment earnings 304,702

Miscellaneous 5.337.353

Total general revenues

Changes in net assets

Net assets - beginning

Net assets - ending

117.302.468

5,951,103

54.660.835

$ 60.611.938


21


22

Bossier Parish School BoardBcnton, Louisiana

BASIC FINANCIAL STATEMENTS:

FUND FINANCIAL STATEMENTS (FFS)

23


GOVERNMENTAL FUNDSBalance SheetJune 30, 2004

ASSETS


Cash and cash equivalents -

Restricted

Investments

Receivables

Interfund receivables

Inventory

Prepaid items

TOTALASSETS

LIABILITIES AND FUND BALANCES

Liabilities:

Accounts, salaries and other

payables

Claims payable

Interfund payables

Deferred revenue

Total Liabilities

Fund Balances:

Reserved for:EncumbrancesDebt Service

InventoryInstructional enhancementPrepaid items

Unreserved, reported in:

Special Revenue FundsCapital Projects Funds

Undesignated

Total Fund Balances

TOTAL LIABILITIES AND

FUND BALANCES

GENERAL

$ 20,324,585 $

0

0

1,321,884

7,031,043

0

308.964

28.986.476

12,462,822

336,303

3,464,7080

16.263.833

1,960,473000

308,964

0

010.453.206

12.722.643

$ 28.986.476 $

SALES TAX

2,351,974 $

0

0

2,477.643

00

0

4.829.617

0

0

4,829,6170

4.829.617

00000

00

0

0

4.829.617 $

DEBT

SERVICE

4,379,760 $

0

0

12,510

00

0

4.392.270

0

0

00

0

04,392,270

000

00

0

4.392.270

4.392.270 $

BOSSIER

EDUCATION

EXCELLENCE

PERMANENT

0

403,474

12,136,059

129,774

0

0

0

12.669.307

0

0

. 6,7670

6.767

000

12,662,5400

00

0

12.662.540

12.669.307

THE NOTES TO THE BASIC FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THIS STATEMENT.24

Statement C

OTHER

GOVERNMENTAL

$ 4,571,989$

0

0

734,777

1,732.95834,370

0

7.074.094

2,108,946

0

2,996,2918.126

5.113.363

0

0

.26,2440

0

1,934,4870

0

1.960.731

TOTAL

31,628,308

403,474

12.136,059

4,676,588

8,764,00134,370

308.964

57.951.764

14,571,768

336,303

11,297,3838.126

26.213.580

1,960,4734,392,270

26,24412,662,540

308,964

1,934,4870

10.453.206

31.738.184

7.074.094 $ 57.951.764

25


26


Reconciliation of the Governmental FundsBalance Sheet to the Statement of Net Assets

June 30, 2004 Statement D

Total fund balances - governmental funds $ 31,738,184

The cost of capital assets (land, buildings, furniture and equipment) purchased or constructed is

reported as an expenditure in governmental funds. The Statement of Net Assets includes those

capital assets among the assets of the School Board as a whole. The cost of those capital assets

allocated over their estimated useful lives (as depreciation expense) to the various programs

reported as governmental activities in the Statement of Activities. Because depreciation

expense does not affect financial resources, it is not reported in governmental funds.

Costs of capital assets $ 154,350,835Depreciation expense to date (102.426.654^

51,924,181Other assets used in governmental activities that are not financial resources and therefore are not

reported in the govermental funds.

Bond issuance costs 123,243

Amortization (46.600)

76,643Net assets of the internal service fund reported as proprietary fund type in the fundfinancial statement but included as governmental activities in the government-wide

financial statement.

Total net assets 337,678

Long-term liabilities applicable to the School Board's governmental activities are not due and

payable in the current period and accordingly are not reported as fund liabilities. All liabilities -both current and long term - are reported in the Statement of Net Assets.

Balances at June 30, 2004 are:

Long-term liabilities

Bonds payable (13,855,000)Note payable (210,640)

QZAB loan payable (2,575,683)Claims and judgments payable (10,000)Capital leases payable (380,102)

Compensated absences payable (6,172,848)

Interest payable (260.475^

(23.464.748^

Net Assets $ 60.611,938


27


GOVERNMENTAL FUNDSStatement of Revenues, Expenditures,

and Changes in Fund BalancesFor the Year Ended June 30, 2004

REVENUES

Local sources:

Taxes:Ad valorem

Sales and use

Interest earningsFood services '

OtherState sources:

EqualizationOther

Federal sources

Total Revenues

EXPENDITURESCurrent:

Instruction:Regular programsSpecial programsOther instructional programs

Support services:Student servicesInstructional staff supportGeneral administrationSchool administration

Business servicesPlant servicesStudent transportation services

Central services

Food servicesCommunity service programs

Capital outlayDebt service:

Principal retirement

Interest and bank charges

Total Expenditures

EXCESS (Deficiency) OF REVENUES

OVER EXPENDITURES

GENERAL

$ 18,827,632 $

0

122,524

0

2,908,178

62,529,5662,866,6942.344.977

89.599.571

45,924,40913,918,64310,474,202

4,882,1115,323,292

820,629

7,540,722612,739

12,481,6346,541,217

936,0670

200,7760

1,523,41367.531

111.247.385

$ (21.647.8141 S

28

SALES TAX

0 $

25,136,7430

0

0

0

0

0

25.136.743

0

0

0

0

0

282.1100

0

0

0

0

0

0

0

0

0

282.110

24.834.633 $

DEBT

SERVICE

1,208,249 3

0

40.472

00

: 0.

68,1300

1.316.851

0

0

0.

0

0

0

0

0

0

0

0

0

0

0

705,000754.463

1 .459.463

(142.812} J

BOSSIER

EDUCATION

EXCELLENCE

PERMANENT

; o0

131,779

0

1,650,892

0

0

0

1.782.671

0

0

0

0

0

0

0

19,966.0

0

0

0

6,5000

0

0

26.466

: 1.756.205

Statement E

OTHER

GOVERNMENTAL TOTAL

0

0

9,9272,243.896

84,198

1,751,3142,185,981

10.622.977

20,035,88125,136,743

304,7022,243.8964,643,268

64,280,8805,120,805

12.967.954

16.898.293 134.734.129

565,9351,920,196

850,446

955,8281,930,812

917,37462

119,380154,92451,5365,532

7,862,1440

1,922,108

00

17.256.277

46,490,34415,838,83911,324,648

5,837,9397,254,1042,020,1137.540,784

752,08512,636,5586,592,753

941,5997,862,144

207,2761,922,108

2,228,413821.994

130.271.701

(357.984^ $ 4.462.428

(CONTINUED) 29


GOVERNMENTAL FUNDSStatement of Revenues, Expenditures,

and Changes in Fund BalancesFor the Year Ended June 30,2004

OTHER FINANCING SOURCES (USES)

Transfers inTransfers out

GENERAL SALES TAX

DEBT

SERVICE

BOSSIER

EDUCATION

EXCELLENCE

PERMANENT

$ 24,854,633 $ 0 $Q f24.854.633)

0 $0

Total Other Financing Sources (Uses)

Net Change in Fund Balances

FUND BALANCES - BEGINNING

FUND BALANCES - ENDING S 12.722.643 S

24.854.633 (24.854.633^ 0

3,206,819

9.515.824

0

0 (142,612) 1,756,205

_Q 4.534.882 10.906.335

0 S 4.392.270 S 12.662.540


30

Statement E

OTHER

GOVERNMENTAL TOTAL

$ 0 $ 24,854,6330 ^24.854.633^

Q Q_

(357,984) 4,462,428

2.318.715 27.275.756

S 1.960.731 $ 31.738.184

(CONCLUDED)

31


Reconciliation of the Governmental FundsStatement of Revenues, Expenditures, and Changes in Fund Balances

to the Statement of ActivitiesFor the Year Ended June 30, 2004 Statement F

Total net change in fund balances - governmental funds $ 4,462,428

Amounts reported for governmental activities in the Statement of Activities are different because:

Capital outlays are reported in governmental funds as expenditures. However, in the Statement of

Activities, the cost of those assets is allocated over their estimated useful lives as depreciationexpense. This is the amount by which capital outlays exceeds depreciation in the period:

Depreciation expense (4,671,194)

Capital outlays 4,152,855 (518,339)

Repayment of bond principal loan, notes and capital leases is an expenditure in the governmental funds,but the repayment reduces long-term liabilities in the Statement of Net Assets. 2,228,413

Amortization of bond issuance costs (6,307)

In the Statement of Activities, certain operating expenses-compensated absences (vacations andsick leave) - are measured by the amounts earned during the year. In the governmental funds,however, expenditures for these items are measured by the amount of financial resources used

(essentially, the amounts actually paid). This year, vacation and sick time earned ($ 488,292)exceeded the amounts used $ 293,495 by ($ 194,797). (194,797)

All revenues, expenses and changes in fund net assets (deficits) of the internal service fundare reported as proprietary fund type in the fund financial statement but included as governmental

activities in the government-wide financial statement. (43,795)

Interest on long-term debt in the Statement of Activities differs from the amount reported in thegovernmental funds because interest is recognized as an expenditure in the funds when it

is due, and thus requires the use of current financial resources. In the Statement of Activities,however, interest expense is recognized as the interest accrues, regardless of when it is due. 23.5QO

Change in net assets of governmental activities. S 5.951.103


32


PROPRIETARY FUND TYPE - INTERNAL SERVICESTATEMENT OF NET ASSETS

June 30, 2004Statement G

ASSETS

Current assets:

CashReceivablesInterfund receivable

TOTAL ASSETS

56521,692

2,533.382

2.555.639

LIABILITIES

Current liabilities:Accounts payableClaims payableInterfund payable

TOTAL LIABILITIES

NET ASSETSUnrestricted

TOTAL NET ASSETS

268.264

1,949,6970

2.217.961

337.678

337.678


33


PROPRIETARY FUND TYPE - INTERNAL SERVICEStatement of Revenues, Expenses,and Changes in Fund Net AssetsFor The Year Ended June 30, 2004

Statement H

OPERATING REVENUE

Premiums

Total operating revenue

OPERATING EXPENSES

Claims

Administration

Total operating expenses

Operating income (loss)

NET ASSETS -BEGINNING

NET ASSETS -ENDING

19.284.789

19.284.789

19,302,584

26.QOQ

19.328.584

(43,795)

381.473

337.678


34


PROPRIETARY FUND TYPE - INTERNAL SERVICEStatement of Cash Flows Statement I

For the Year Ended June 30, 2004

CASH FLOW FROM OPERATING ACTIVITIES

Premiums $ 19,966,097

Claims paid (19,939,532)

Other payments (26.00Q>

Net cash provided by operating activities 565

Net increase (decrease) in cash and

cash equivalents 565

CASH AND CASH EQUIVALENTS AT

BEGINNING OF YEAR 0

CASH AND CASH EQUIVALENTS AT

END OF YEAR £ 565

RECONCILIATION OF OPERATING INCOME (LOSS) TO

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES

Operating income (loss) $ (43,795)

Adjustments to reconcile operating income

to net cash provided (used) by operating activities:Change in assets and liabilities:

(Increase) decrease in receivable 681,308

Increase (decrease) in accounts payable (617,021)

Increase (decrease) in claims payable (19,927)

Net cash provided (used) for operating activities $ 565


35


FIDUCIARY FUNDSTATEMENT OF ASSETS AND LIABILITIES

June 30, 2004

Statement J

ASSETS


TOTAL ASSETS

AGENCY

FUND

1.732.401

1.732.401

LIABILITIESDeposits due others

TOTAL LIABILITIES

1.732.401

S 1.732.401


36

Bossier Parish School BoardNotes to the Basic Financial Statements

INDEX Page

NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 38A. REPORTING ENTITY 38B. FUNDS 38C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING 39D. CASH AND CASH EQUIVALENTS 41E. INVESTMENTS 41F. SHORT-TERM INTERFUND RECEIVABLES/PAYABLES .....41G. INVENTORIES AND PREPAID ITEMS 41H. CAPITAL ASSETS 42I. DEFERRED REVENUES 42J. COMPENSATED ABSENCES 42K. RESTRICTED NET ASSETS 43L. FUND EQUITY OF FUND FINANCIAL STATEMENTS 43M. INTERFUND TRANSACTIONS 43N. SALES TAXES 43O. BUDGETS 43P. USE OF ESTIMATES 44Q. ELIMINATION AND RECLASSIFICATIONS 44

NOTE 2 - LEVIED TAXES 44NOTE 3-DEPOSITS 45NOTE 4 - INVESTMENTS 46NOTE 5 - RECEIVABLES 46NOTE 6 - CAPITAL ASSETS 47NOTE 7 - RETIREMENT SYSTEMS 47NOTE 8 - OTHER POST-EMPLOYMENT BENEFITS 49NOTE 9 - ACCOUNTS, SALARIES AND OTHER PAYABLES 49NOTE 10 - COMPENSATED ABSENCES 49NOTE 11-AGENCY FUND DEPOSITS DUE OTHERS 49NOTE 12 - LONG-TERM LIABILITIES 50NOTE 13-INTERFUND ASSETS/LIABILITIES (FFS LEVEL ONLY) 51NOTE 14 - RESERVED AND DESIGNATED FUND BALANCES (FFS LEVEL ONLY) 51NOTE 15-INTERFUND TRANSFERS 52NOTE 16-RISK MANAGEMENT 52NOTE 17-LITIGATION AND CLAIMS 53NOTE 18 - ON-BEHALF PAYMENTS FOR FRINGE BENEFITS AND SALARIES 53NOTE 19-ECONOMIC DEPENDENCY 53NOTE 20 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY 53

37


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying financialstatements of the Bossier Parish School Board have been prepared in conformity with accounting principles generallyaccepted in the United States of America (GAAP) as applied to governmental units. The Governmental AccountingStandards Board (GASB) is the accepted standard-setting body for establishing governmental accounting andfinancial reporting principles.

A. REPORTING ENTITY The Bossier Parish School Board was created by Louisiana Revised Statute LSA-R. S.17:51 to provide public education for the children within Bossier Parish. The School Board is authorized byLSA-R.S. 17:81 to establish policies and regulations for its own government consistent with the laws of the state ofLouisiana and the regulations of the Louisiana Board of Elementary and Secondary Education. The School Board iscomprised of twelve members who are elected from twelve districts for terms of four years.

The School Board operates thirty schools within the parish with a total enrollment of approximately 18,954 pupils. Inconjunction with the regular educational programs, some of these schools offer special education and/or adulteducation programs. In addition, the School Board provides transportation and school food services for the students.

B. FUNDS The accounts of the School Board are organized and operated on the basis of funds. A fund is anindependent fiscal and accounting entity with a self-balancing set of accounts. Fund accounting segregates fundsaccording to their intended purpose and is used to aid management hi demonstrating compliance with finance-relatedlegal and contractual provisions. The minimum number of fiinds are maintained consistent with legal and managerialrequirements.

The funds of the School Board are classified into three categories: governmental, proprietary, and fiduciary.

Governmental Funds Governmental funds are used to account for the School Board's general government activities,including the collection and disbursement of specific or legally restricted monies, the acquisition or construction ofgeneral fixed assets, and the servicing of general long-term debt. The School Board reports the following majorgovernmental funds:

General fund - the primary operating fund of the School Board. It accounts for all financial resources of theSchool Board, except those required to be accounted for hi another fund.Debt service fund - accounts for the accumulation of resources for, and the payment of, general long-term debtprincipal, interest and related costs. This fund receives a dedicated portion of ad valorem taxes paid to the SchoolBoard.Sales tax fund - accounts for the collection of sales tax in Bossier Parish. The monies are then transferred to theappropriate fimd for expenditures.

Proprietary Funds Proprietary funds account for activities similar to those found in the private sector, where thedetermination of net income is necessary or useful to sound financial administration. Proprietary funds differ fromgovernmental funds in that their focus is on measurement, which, together with the maintenance of equity is animportant financial indicator. The School Board reports the following proprietary fund:

Internal service fund - accounts for operations that provide services to other departments or agencies of thegovernment, or to other governments, on a cost-reimbursement basis, employee health insurance program.

Fiduciary Funds Fiduciary funds account for assets held by the government in a trustee capacity or as an agent onbehalf of outside parties, including other governments.

38


Agency funds are custodial in nature (assets equal liabilities) and do not present results of operations or have ameasurement focus. These funds are used to account for assets that the government holds for others in an agencycapacity. These agency funds are as follows:

School activities fund - accounts for assets held by the School Board as an agent for the individual schools andschool organizations.

C. MEASUREMENT FOCUS AND BASIS OF ACCOUNTING

Government-Wide Financial Statements (GWFS) The Statement of Net Assets and the Statement of Activitiesdisplays information about the reporting government as a whole. Fiduciary funds are not included in the GWFS.Fiduciary funds are reported only in the Statement of Fiduciary Assets and Liabilities at the fund financial statementlevel.

The Statement of Net Assets and the Statement of Activities was prepared using the economic resources measurementfocus and the accrual basis of accounting. Revenues, expenses, gains, losses, assets, and liabilities resulting fromexchange and exchange-like transactions are recognized when the exchange takes place. Revenues, expenses, gains,losses, assets, and liabilities resulting from nonexchange transactions are recognized in accordance with therequirements of GASB Statement No. 33 "Accounting and Financial Reporting for Nonexchange Transactions."

Internal Activities The employees' health insurance internal service fund provides services to the governmentalfunds. Accordingly, the employees' health insurance fund activity was rolled up into the governmental activities.Pursuant to GASB Statement No. 34 Basic Financial Statements - and Management's Discussion and Analysis - forState and Local Governments," as much as possible, the internal activities have been eliminated in order to avoid the"grossing-up" effect of a straight inclusion.

Program revenues Program revenues include 1) charges for services provided, 2) operating grants andcontributions, and 3) capital grants and contributions; program revenues reduce the cost of the function to be financedfrom the School Board's general revenues. Charges for services are primarily derived from cafeteria sales. Operatinggrants and contributions consist of the many educational grants received from the federal and state government.

Allocation of indirect expenses The School Board reports all direct expenses by function in the Statement ofActivities. Direct expenses are those that are clearly identifiable with a function. Depreciation expense is specificallyidentified by function and is included in the direct expense of each function. Interest on general long-term debt isconsidered an indirect expense and is reported separately in the Statement of Activities. Other indirect expenses arenot allocated.

39


Fund Financial Statements (FFS)

Governmental Funds The accounting and financial reporting treatment applied to a fund is determined by itsmeasurement focus. Governmental fund types use the flow of current financial resources measurement focus and themodified accrual basis of accounting. Under the modified accrual basis of accounting revenues are recognized whensusceptible to accrual (i.e., when they are "measurable and available"). "Measurable" means the amount of thetransaction can be determined and "available" means collectible within the current period or soon enough thereafter topay liabilities of the current period. The government considers all revenues available if they are collected within 60days after year-end. Expenditures are recorded when the related fund liability is incurred, except for unmaturedprincipal and interest on general long-term debt which is recognized when due. Compensated absences and claimsand judgments are reported in a governmental fund only if the claims are due and payable.

With this measurement focus, only current assets and current liabilities are generally included on the balance sheet.Operating statements of these funds present increases and decreases in net current assets. The governmental fundsuse the following practices in recording revenues and expenditures:

Revenues

Ad valorem taxes are recognized when all applicable eligibility requirements are met and the resources areavailable.Sales taxes are recognized when the underlying exchange takes place and the resources are available.Entitlements and shared revenues (which include state equalization and state revenue sharing) are recordedas unrestricted grants-in-aid at the time of receipt or earlier if the susceptible to accrual criteria are met.Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred andall other grant requirements have been met,Other receipts become measurable and available when cash is received by the School Board and arerecognized as revenue at that time.

Expenditures

Salaries are recorded as paid. Unpaid salaries for nine-month employees who are paid over twelve monthsare accrued at June 30. Substantially all other expenditures are recognized when the related fund liability hasbeen incurred.

Other financing sources fnses^Transfers between funds that are not expected to be repaid (or any othertypes, such as capital lease transactions, sale of capital assets, debt extinguishments, long-term debt proceeds,et cetera) are accounted for as other financing sources (uses). These other financing sources (uses) arerecognized at the time the underlying events occur.

Proprietary Fund Proprietary fund is accounted for on the flow of economic resources measurement focus and usethe accrual basis of accounting. Under this method, revenues are recorded when earned and expenses are recorded atthe time the liabilities are incurred. With this measurement focus, all assets and all liabilities associated with theoperation of this fund is included on the balance sheet.

Operating revenues and expenses Proprietary fund distinguish operating revenues and expenses fromnonoperating items. Operating revenues and expenses generally result from providing services in connection withthe fund's principal ongoing operations. All revenues and expenses not meeting this definition are reported asnonoperating revenues and expenses.

40


Fiduciary fund The agency fund is custodial in nature and does not present results of operations or have ameasurement focus. Agency funds are accounted for using the accrual basis of accounting.

D. CASH AND CASH EQUIVALENTS Cash includes amounts in demand deposits, interest-bearing demanddeposits and time deposit accounts. Cash equivalents include amounts in time deposits and those investments withoriginal maturities of 90 days or less. Under state law, the School Board may deposit funds in demand deposits,interest-bearing demand deposits, or time deposits with state banks organized under Louisiana law and national bankshaving their principal offices in Louisiana.

E. INVESTMENTS Investments are limited by R.S. 33:2955 and the School Board's investment policy. If theoriginal maturities of investments exceed 90 days, they are classified as investments; however, if the originalmaturities are 90 days or less, they are classified as cash equivalents.

The investments are reflected at fair value except for the following which are permitted per GASB StatementNo. 31:

1. Investments in nonparticwatine interest-earning contracts, such as nonnegotiable certificates of deposit withredemption terms that do not consider market rates, are reported using a cost-based measure.

2. The School Board reports at amortized cost money market investments and participating interest-earninginvestment contracts that have a remaining maturity at time of purchase of one year or less.

Definitions:

Interest-earning investment contracts include time deposits with financial institutions (such as certificates ofdeposit), repurchase agreements, and guaranteed investment contracts.

Money market investments are short-term, highly liquid debt instruments that include U. S. Treasuryobligations.

F. SHORT-TERM INTERFUND RECEIVABLES/PAYABLES During the course of operations, numeroustransactions occur between individual funds for goods provided or services rendered. These receivables and payablesare classified as interfund receivables/payables on the balance sheet. Short-term interfund loans are also classified asinterfund receivables/payables.

G. INVENTORIES AND PREPAD3 ITEMS Inventories of the governmental fund type are accounted for usingthe consumption method where expenditures are recognized as inventory is used.

Inventory of the school food service special revenue fund consists of food purchased by the School Board andcommodities granted by the United States Department of Agriculture through the Louisiana Department ofAgriculture and Forestry. Unused commodities at June 30 are reported as deferred revenue. All purchased inventoryitems are valued at cost (first-in, first-out) and commodities are assigned values based on information provided by theUnited States Department of Agriculture.

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items.

41


H. CAPITAL ASSETS Capital assets are recorded at historical cost and depreciated over their estimated useful lives(excluding salvage value). The capitalization threshold is $1,000. Donated capital assets are recorded at theirestimated fair value at the date of donation. Estimated useful life is management's estimate of how long the asset isexpected to meet service demands. Straight line depreciation is used based on the following estimated useful lives:

Buildings and improvements 10-50 yearsFurniture and equipment 5-20 yearsTransportation equipment 8 years

Interest during construction is not capitalized on capital assets.

I. DEFERRED REVENUES Deferred revenues arise when resources are received by the School Board before ithas a legal claim to them, as when grant monies are received prior to the occurrence of qualifying expenditures. Insubsequent periods, when the School Board has a legal claim to the resources, the liability for deferred revenue isremoved and the revenue is recognized.

J. COMPENSATED ABSENCES All School Board employees earn from 10 to 13 days of sick leave each yearthat can be accumulated without limitation. Upon retirement or death, unused accumulated sick leave of up to 25days is paid to the employee or to the employee's estate at the employee's current rate of pay. Under the LouisianaTeachers' Retirement System and the Louisiana School Employees' Retirement System, all unpaid sick leave is usedin the retirement benefit computation as earned service.

All 12-month employees earn from 10 to 20 days of vacation leave each year. Upon termination, employees may bepaid for all unused vacation earned through June 30, 2002, and up to thirty days of unused vacation leave earnedsubsequent to June 3 0,2002. Nine-month employees earn two work days of personal leave per academic year whichis noncumulative.

The School Board's recognition and measurement criteria for compensated absences follows:

A liability for sick leave is accrued using one of the following termination approaches:

A. An accrual for earned sick leave should be made only to the extent it is probable that the benefits willresult in termination payments, rather than be taken as absences due to illness or other contingencies, suchas medical appointments and funerals.

B. Alternatively, a governmental entity should estimate its accrued sick leave liability based on the sick leaveaccumulated at the balance sheet'date by those employees who currently are eligible to receivetermination payments as well as other employees who are expected to become eligible in the future toreceive such payments. The School Board uses this approach to accrue the liability for sick leave.

Vacation leave and other compensated absences with similar characteristics is accrued as a liability as the benefitsare earned by the employees if both of the following conditions are met:

A. The employees' right to receive compensation are attributable to services already rendered.

B. It is probable that the employer will compensate the employees for the benefits through paid time offersome other means, such as cash payments at termination or retirement.

42


K. RESTRICTED NET ASSETS For the government-wide statement of net assets, net assets are reported asrestricted when constraints placed on net asset use are either:

Externally imposed by creditors (such as debt covenants), grantors, contributors, or laws or regulations of othergovernments;

Imposed by law through constitutional provisions or enabling legislation.

When both restricted and unrestricted resources are available for use, it is the government's policy to use restrictedresources first, then unrestricted resources as they are needed.

L. FUND EQUITY OF FUND FINANCIAL STATEMENTS Reserves represent those portions of fond equitynot appropriable for expenditures or legally segregated for a specific future use. Designations of fund balancerepresent tentative management plans that are subject to change.

M.INTERFUND TRANSACTIONS Transactions that constitute reimbursements to a fund for expendituresinitially made from it that are properly applicable to another fond are recorded as expenditures in the reimbursingfond and as reductions of expenditures in the fond that is reimbursed. All other interfond transfers are reported astransfers.

N. SALESTAXES On April 15,1969, the voters of Bossier Parish approved a one percent sales and use tax to beused to supplement salaries and benefits of teachers and other School Board employees for the operation of publicschools in Bossier Parish.

On September 16,1978, the voters of Bossier Parish approved a one-half of one percent sales tax. This to be used forthe retirement of the School Board's sales tax bonds, the maintenance and upkeep of the school system's airconditioners and any other lawful purpose of the school system.

O. BUDGETS

General Budget Practices The School Board follows these procedures in establishing the budgetary data reflectedin the combined financial statements:

State statute requires budgets be adopted for the general fond and all special revenue funds.

Each year prior to September 15, the Superintendent submits to the Board proposed annual budgets for the generalfond and special revenue fonds1 budgets. Public hearings are conducted, prior to the Board's approval, to obtaintaxpayer comments. The operating budgets include proposed expenditures and the means of financing them.

Appropriations (unexpended budget balances) lapse at year-end.

Formal budget integration (within the accounting records) is employed as a management control device. All budgetsare controlled at the function level. Budget amounts included in the accompanying financial statements include theoriginal adopted budget and all subsequent amendments. These revisions were considered significant by the Board.All budget revisions are approved by the Board.

43


Budget Basis of Accounting All governmental funds' budgets are prepared on the modified accrual basis ofaccounting, a basis consistent with accounting principles generally accepted in the United States of America (GAAP).Budgeted amounts are as originally adopted or as amended by the Board. Legally, the Board must adopt a balancedbudget; that is, total budgeted revenues and other financing sources including fund balance must equal or exceed totalbudgeted expenditures and other financing uses. State statutes require the Board to amend its budgets when revenuesplus projected revenues within a fund are expected to be less than budgeted revenues by five percent or more and/orexpenditures within a fund are expected to exceed budgeted expenditures by five percent or more. The School Boardapproves budgets at the function level and management can transfer amounts between line items within a function.

P. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principlesgenerally accepted in the United States of America requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of thefinancial statement and the reported amounts of revenues and expenses during the reporting period. Actual resultscould differ from those estimates.

Q. ELIMINATION AND RECLASSIFICATIONS In the process of aggregating data for the statement of netassets and the statement of activities, some amounts reported as interfimd activity and balances in the funds wereeliminated or reclassified. Interfund receivables and payables were eliminated to minimize the "grossing up" effect onassets and liabilities within the governmental activities column.

NOTE 2 - LEVIED TAXES The School Board levies taxes on real and business personal property located withinBossier Parish's boundaries. Property taxes are levied by the School Board on property values assessed by the BossierParish Tax Assessor and approved by the State of Louisiana Tax Commission.

The Bossier Parish Sheriff's Office bills and collects property taxes for the School Board. Collections are remitted tothe School Board monthly.

Property Tax Calendar

Millage rates adopted January 1,2003Levy date January 1,2003Tax bills mailed November 27,2003Due date December 31, 2003Lien date January 1, 2004Tax sale date, 2003 delinquent property May 2004

Assessed values are established by the Bossier Parish Tax Assessor each year on a uniform basis at the followingratios of assessed value to fair market value:

10% land 15% machinery10% residential improvements 15% commercial improvements15% industrial improvements 25% public service properties, excluding land

A revaluation of all property is required to be completed no less than every four years. The last revaluation wascompleted for the roll of January 1,2000. Total assessed value was $522,316,590 in calendar year 2003. Louisianastate law exempts the first $7,500 of assessed value of a taxpayer's primary residence from parish property taxes. Thishomestead exemption was $130,017,316 of the assessed value in calendar year 2003.

44


the rate of 1.25% per month until the taxes are paid. After notice is given to the delinquent taxpayers, the sheriff isrequired by the Constitution of the State of Louisiana to sell the least quantity of property necessary to settle the taxesand interest owed.

The tax roll is prepared by the tax assessor and approved by the State Tax Commission in November of each year.The amount of 2004 property taxes to be collected occurs in December 2004 and January and February 2004. Allproperty taxes are recorded in the general and debt service funds. The School Board considers the lien date (January1,2004) as the date an enforceable legal claim occurs for 2004 property taxes. Property tax revenue is recognized inthe period for which the taxes are levied (budgeted). Accordingly, the 2004 property taxes are budgeted in the 2004-2005 fiscal year of the School Board.

Estimated uncollectible taxes are those taxes based on past experience which will not be collected in the subsequentyear and are primarily due to subsequent adjustments to the tax roll. Historically, virtually all ad valorem taxesreceivable were collected since they are secured by property. Therefore, there is no allowance for uncollectible taxes.

The following is a summary of authorized and levied (tax rate per $1,000 Assessed Value) ad valorem taxes:

Parish-wide Taxes

ConstitutionalSpecial maintenance and operationsSpecial salaries and benefitsSpecial salaries and benefitsBond and interest

AuthorizedMillage

4.229.619.61

26.50Variable

LeviedMillage

4.229.619.61

26.503.20

ExpirationDate

Statutory2013201320152017

NOTE 3 - DEPOSITS At June 30, 2004, the School Board has deposits totaling $33,764,748.

Deposits are stated at cost, which approximates fair value. Under state law, these deposits (or the resulting bankbalances) must be secured by federal deposit insurance or the pledge of securities owned by the fiscal agent bank.The market value of the pledged securities plus the federal deposit insurance must at all times equal the amount ondeposit with the fiscal agent These securities are held in the name of the pledging fiscal agent bank in a holding orcustodial bank that is mutually acceptable to both parties.

At year-end, the School Board's carrying amount of deposits was $33,764,748 and the bank balance was $21,644,360.Of the bank balance, $1,270,946 was covered by federal depository insurance or by collateral held by the School

Board's agent in the School Board's name (GASB Category 1). The remaining $20,373,414 was collateralized withsecurities held by the pledging financial institution's trust department or agent but not in the School Board's name(GASB Category 3).

Even though the pledged securities are considered uncollateralized (Category 3) under the provisions of GASBStatement 3, Louisiana Revised Statute 39:1229 imposes a statutory requirement on the custodial bank to advertiseand sell the pledged securities within 10 days of being notified by the School Board that the fiscal agent has failed topay deposited funds upon demand.

45


NOTE 4 - INVESTMENTS Investments are categorized into these three categories of credit risk:

1. Insured or registered, or securities held by the School Board or its agent in the School Board's name.

2. Uninsured and unregistered, with securities held by the counter party's trust department or agent in the SchoolBoard's name.

3. Uninsured and unregistered, with securities held by the counter party, or by its trust department or agent butnot in the School Board's name.

CarryingAmount Total

Category Fair Carrying1 Value Amount

Type of investmentU. S. Government Securities S12.136.059 S12.136.059 $12.136.059

Total investments $12.136.059 $12.136.059

NOTE 5 - RECEIVABLES The receivables at June 30, 2004, are as follows:

BossierEducation

Debt Excellence Other InternalGeneral Sales Tax Service Permanent Governmental Service Total

Taxes:Ad valorem $ 67,030 $ OS 6,803 $ 0 $ 0 $ 0 $ 73,833Sales t a x 0 2,477,643 0 0 0 0 2,477,643

Intergovernmental -grants:

Federal 308,105 0 0 0 712,090 0 1,020,195

State 768,741 0 0 0 0 0 768,741Other 178,008 0_ 5,707 129,774 22,687 21,692 357,868

Total $1,321,884 $2,477,643 $12,510 $ 129,774 $ 734,777 $21,692 $4.698.280

The School Board expects to collect these balances in full; therefore, no allowance for doubtful accounts wasestablished.

46


NOTE 6 - CAPITAL ASSETS Capital assets balances and activity for the year ended June 3 0,2004, is as follows:

Governmental Activities:Land

Exhaustible Capital Assets:BuildingsFurniture and equipmentTransportation equipment

TotalLess accumulated depreciation:

BuildingsFurniture and equipmentTransportation equipment

TotalGovernmental Activities:

Capital assets, net

BalanceJuly 1,2003 Additions Retirements

BalanceJune 30,2004

$ 557,469 $

119,662,12021,628,143

8,350,248149,640,511

74,553,59716,615,0286,586,835

97,755,460

0

592,3773,272,449

288,0294,152,855

2,637,6261,400,175

633,3934,671,194

$ 52,442,520 $ (518,339) $

0 $

000

557,469

120,254,49724,900,592

8,638,277153,793,366

77,191,22318,015,2037,220,228

102,426,654

0 $ 51,924,181

Depreciation expense was charged to governmental activities as follows:

Regular programs ,, » $ 2,739,627Special programs 73,708Other instructional programs 746,501Student Services . ., 14,114Instructional staff support 231,316General administration , ' 26,253School administration 96,853Business services - 103,001Plant services 129,733Student transportation services 353,544Central services 46,443Food services 110,101

Total depreciation expense $ 4,671,194

NOTE 7 - RETIREMENT SYSTEMS

Plan description Substantially all School Board employees participate in either the Teachers' Retirement System orthe School Employees' Retirement System (the Systems), which are cost-sharing, multiple-employer public employeeretirement systems (PERS). Benefit provisions are ultimately approved and amended by the Louisiana Legislature.

Participation hi the Teachers' Retirement System is divided into two plans - the Teachers' Regular Plan and theTeachers' Plan A. In general, professional employees (such as teachers and principals) and lunchroom workers aremembers of the Louisiana Teachers' Retirement System (TRS); other employees, such as custodial personnel and busdrivers, are members of the Louisiana School Employees' Retirement System (LSERS). Generally, all full-timeemployees are eligible to participate in the system.

47


With respect to the Teachers' Retirement System Regular Plan, normal retirement is at age sixty with ten years ofservice, or at any age with twenty years of service. The formula for annual maximum retirement benefits is generallytwo percent (with less than twenty-five years of service) or 2,5 percent (with twenty-five or more years of service)times the years of creditable service times the average salary of the thirty-six highest successive months (plus $300applicable to persons becoming members prior to July 1, 1986).

Under the Teachers' Retirement System Plan A, normal retirement is generally at any age with 30 or more years ofcreditable service, at age fifty-five with at least twenty-five years of creditable service and at age sixty with at least tenyears of creditable service. The retirement benefit formula is generally three percent times the years of creditableservice times the average salary of the thirty-six highest successive months plus $24 per year of service.

Employees participating in the School Employees' Retirement System are eligible for normal retirement after thirtyyears of service, or after twenty-five years of service at age fifty-five or after ten years of service at age sixty. Themaximum retirement allowance is computed at 2.5 percent times the highest thirty-six months of average salary, timesthe years of service plus a supplement of $2.00 per month times the years of service.

Both TRS and LSERS issue annual financial reports. The reports can be obtained by telephoning or writing to thefollowing:

Teachers' Retirement System of Louisiana Louisiana School Employees' Retirement SystemPost Office Box 94123 Post Office Box 44516Baton Rouge, Louisiana 70804-9123 Baton Rouge, Louisiana 70804(225) 925-6446 (225) 925-6484

Funding Policy Each system is administered and controlled at the state level by a separate board of trustees, withcontribution rates approved and amended by the Louisiana Legislature. Benefits of the systems are funded byemployee and employer contributions. Benefits granted by the retirement systems are guaranteed by the state ofLouisiana under provisions of the Louisiana Constitution of 1974.

In addition, the employer does not remit to the Teachers' Retirement System, Regular Plan or Plan A, the employer'scontribution for the professional improvement program (PIP) portion of payroll. The PIP contribution is madedirectly to the Retirement System by the state of Louisiana.

Contribution rates (as a percentage of covered salaries) for active plan members as established by the LouisianaLegislature for the year ended June 30,2004, are as follows:

Employee EmployerLouisiana Teachers' Retirement System:

Regular 8.00% 13.80%Plan A 9.10% 13.80%

Louisiana School Employees' Retirement System 7.50% 8.50%

Total covered payroll of the School Board for TRS - Regular Plan, TRS - Plan A, and LSERS for the year endedJune 30,2004, amounted to $65,639,561, $349,008 and $7,848,119, respectively. Employer contributions for theyear ended June 30, 2004, and each of the two preceding years are as follows:

48


Fiscal Year Ended

30-Jun-0230-Jun-0330-Jun-04

AnnualActuariallyRequired

Contribution

$ 8,028,76410,095,363

10,616,135

..TRS

Percentage ofAnnual RequiredContribution Paid

100.00%77.50%81.40%

LSRRS

AnnualActuariallyRequired

Contribution

$ 0810,282

846,859

Percentage ofAnnual RequiredContribution Paid

100.00%0.00%

78.77%

The actuarially-required contributions were made. Annual actuarially required contributions for each plan above isbased on the plan's annual financial report for that year except for TRS for the year ended June 30,2004. The annualactuarially required contribution for TRS for the year ended June 30,2004, is based upon the plan's annual financialreport for the year ended June 30,2003, which is the latest information available.

NOTE 8 - OTHER POST-EMPLOYMENT BENEFITS In accordance with state statutes, the School Boardprovides certain continuing health care and life insurance benefits for its retired employees. Substantially all of theSchool Board's employees become eligible for these benefits if they reach normal retirement age while working forthe School Board. These benefits for retirees and similar benefits for active employees are provided through theLouisiana Group Benefits whose monthly premiums are paid jointly by the employee and by the School Board. TheSchool Board recognizes the cost of providing these benefits (which includes the state's reimbursement) as anexpenditure when the monthly premiums are due. The cost of retiree benefits included in these expenditures was$2,454,504, for approximately 1,102 retirees.

NOTE 9 - ACCOUNTS, SALARIES AND OTHER PAYABLES The payables at June 30,2004, are as follows:

SalariesAccounts

Total

General$ 8,971,528

3,491,294

OtherGovernmental

$ 1,751,926357,020

Internal Service$ - 0

268,264

Total$ 10,723,454

4,116,57814,840.032

NOTE 10 - COMPENSATED ABSENCES At June 30,2004, employees of the School Board have accumulatedand vested $6,172,848 of employee leave benefits, which includes $88,227 of employee-related benefits. Thesebenefits were computed in accordance with GASB Codification Section C60.

NOTE 11 - AGENCY FUND DEPOSITS DUE OTHERS A summary of changes in agency fond deposits dueothers follows:

Balance, Balance,Beginning Additions Deductions Ending

School activity fund

49


NOTE 12 - LONG-TERM LIABILITIES The following is a summary of the long-term obligation transactions forthe year ended June 30, 2004:

Governmental ActivitiesBonds payableNote payableCertificate of IndebtednessQZAB loan payableClaims and Judgements payableCapital leases payableCompensated absences

Governmental ActivitiesLong-term debt

The compensated absences liability attributable to the governmental activities will be liquidated 100% by the GeneralFund.

The individual issues are as follows:

DateParish-wide 1996Parish-wide 1997Notes payable-EPA 1988Notes payable-EPA 1988QZAB 2001

All principal and interest requirements are funded in accordance with Louisiana law by the annual ad valorem tax levyon taxable property within the parish. At June 30,2004, the School Board has accumulated $4,392,270 in the debtservice funds for future debt requirements. The bonds are due as follows:

BeginningBalance

$ 14,560,000299,033665,000

2,799,6552,315,927

926,1495,978,051

$ 27,543,815

Additions

$ 0000

18,626,6370

488,292

$ 19,114,929

Deductions

S 705,00088,394

665,000223,972

18,646,564546,046293,495

$ 21,168,471

EndingBalance

$ 13,855,000210,639

02,575,6832,296,000

380,1036,172,848

$ 25,490,273

Amounts dueWithin

One Year

$ 750,00070,152

0223,972

2,286,000261,080293,495

S 3,884,699

OriginalAmount

$9,000,0008,000,000

579,6091,011,4993,000,000

InterestRates

5.00-10.00%4.50-10.00%NoninterestNoninterestNoninterest

FinalPayment

Due20162017200520082015

Interest toMaturity

$ 2,670,9802,328,836

000

$ 4,999,816

PrincipalOutstanding$ 7,295,000

6,560,00013,958

196,6812,575,683

$16,641,322

Amount DueWithin

One Year$ 405,000

345,00013,95956,194

223,972$ 1,044,125

Year Ending June 30,200520062007200820092010-20142015-20172018

Total

PrincipalPayments

InterestPayments Total

$ 1,044,1241,075,1661,125,1661,152,0711,178,9727,114,8623,950,961

$ 683,162624,176586,250545,924502,976

1,751,426305,902

$ 1,727,2861,699,3421,711,4161,697,9951,681,9488,866,2884,256,863

$16,641,322 $ 4,999,816 $21,641,138

In accordance with Louisiana Revised Statute 39:562, the School Board is legally restricted from incurring long-termbonded debt in excess of 35 percent of the assessed value of taxable property. At June 30,2004, the statutory limit is$182,810,807 and outstanding net bonded debt totals $9,462,730.

50


The school board records items under capital leases as an asset and an obligation in the accompanying financialstatements. The following is an analysis of capital leases:

Type:Energy equipmentUnisys mainframe

Total$4,970,640

207,160

The following is a schedule of fiiture minimum lease payments under capital leases, together with the present value ofthe net minimum lease payments, as of June 30, 2004:

Fiscal Year:2005200620072008

TotalLess amounts representing interestPresent value of net minimum lease payments

NOTE 13 - INTERFUND ASSETS/LIABILITIES (FFS LEVEL ONLY)

EnergyEquipment

$ 224,382000

$ 224,382(3,451)

$ 220,931

UnisysMainframe

$ 45,77145,77145,77134,059

$ 171,372(12,200)

$ 159,172

Interfund Receivables/Pay ables:Receivable FundGeneral

Other governmental

Internal ServiceTotal

Payable FundGeneral FundSales Tax DepartmentBossier Education Excellence PermanentOther governmentalGeneralSales Tax DepartmentGeneral Fund

Amount$ 601,781

3,690,6996,767

2,731,796594,040

1,138,9182,533.382

$ 11,297,383

The purpose of interfund assets/liabilities was to pay health insurance premiums and cover expenses in costreimbursement programs until the reimbursement requisitions are deposited.

NOTE 14 - RESERVED AND DESIGNATED FUND BALANCES (FFS LEVEL ONLY)

Reservations:

Encumbrances Encumbrances outstanding at year end represent the estimated amount the School Board intendsto honor as a commitment regardless of the lapse in the appropriation,Debt Service This amount represents the portion of fund balance that has been reserved in the debt service fundfor future payment of principal and interest on bonded debt.Inventory This amount represents the portion of fund balance relating to inventory on hand which is thereforeunavailable to be expended for other purposes.Instructional Enhancement This amount represents the portion of fund balance that has been reserved in theBossier Educational Excellence Fund (permanent fund).Prepaid Items Fund balance is reserved for prepaid expenditures which indicates that fund balances in thatamount is not available for appropriation and expenditures.

51


NOTE 15 - INTERFUND TRANSFERS Transfers for the year ended June 30, 2004, were as follows:

TransfersGeneral FundSales Tax

Totals

Transfers In Transfers Out$24,854,633 $ 0

0_ 24,854,633$ 24,854,633 $ 24,854,633

The purpose of the interftmd transfers was to pay salaries from the sales tax supplement.

NOTE 16 - RISK MANAGEMENT The School Board maintains a risk management program for workers'compensation. During fiscal year 2004 a total of $123,396 was incurred in benefits and administrative costs. Anexcess coverage insurance policy covers individual claims hi excess of $150,000. Interfund premiums are basedprimarily upon the individual funds payroll and are reported as expenditures in the individual funds.

The School Board maintains a risk management program for employees' health insurance. Premiums are paid into thehealth insurance internal service fund by all other funds and are available to pay claims, claim reserves andadministrative costs of the program. An excess coverage insurance policy covers individual claims in excess of$150,000. Interfund premiums are based primarily upon the individual funds' payroll and are reported asexpenditures in the individual funds. The incurred but not reported claims at year end of $1,949,697 has beenaccrued based upon the third party administrator's calculation using historical claim experience. Claims payable doesnot include incremental costs.

Changes in the claims amount in the current and the previous fiscal years are as follows:

Group Health Insurance:2001-20022002-20032003-2004

Beginning ofFiscal Year

Liability

$1,755,6921,905,8931,969,624

Claims andChanges inEstimates

$17,197,56218,161,94718,503,241

BenefitPayments

and Claims

$17,047,36118,098,21618,523,168

Ending ofFiscal Year

Liability

$1,905,8931,969,6241,949,697

Worker's Compensation2001-20022002-20032003-2004

336,303

336,303336,303

272,909203,392

123,396

272,909

203,392123,396

336,303

336,303

336,303

Claims and judgments2001-20022002-20032003-2004

The claims and judgments liability attributable to the governmental activities will be liquidated 100% by the internalservice fund.

10,000

442,500

10,000

432,500

00

0432,500

0

442,500

10,000

10,000

52


In addition, the School Board is at risk for property damage, liability and theft which are covered by commercialinsurance. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of thepast three fiscal years.

NOTE 17 - LITIGATION AND CLAIMS

Litigation The School Board is a defendant in several lawsuits. Management and legal counsel for the School Boardbelieve that the potential claims against the School Board not covered by insurance would not materially affect theSchool Board's financial position.

Grant Disallowances The School Board participates in a number of state and federally assisted grant programs. Theprograms are subject to compliance audits under the single audit approach. Such audits could lead to requests forreimbursement by the grantor agency for expenditures disallowed under terms of the grants. School Boardmanagement believes that the amount would not be material.

Tax Arbitrage Rebate Under the Tax Reform Act of 1986, interest earned on the debt proceeds in excess of interestexpense prior to the disbursement of the proceeds must be rebated to the Internal Revenue Service (IRS).Management believes there is no tax arbitrage rebate liability at year end.

NOTE 18 - ON-BEHALF PAYMENTS FOR FRINGE BENEFITS AND SALARIES On-behalf payments forfringe benefits and salaries are direct payments made by an entity (the paying agent) to a third-party recipient for theemployees of another, legally separate entity (the employer entity). GASB Statement No. 24 requires employergovernments to recognize revenue and expenditures or expenses for these on-behalf payments.

The state of Louisiana made pension contributions (regarding Professional Improvement Program) directly to theTeachers' Retirement System of Louisiana on behalf of the School Board in the amount of $47,246. This amount wasrecognized as state revenue and a corresponding expenditure in the applicable fund from which the salary was paid.

NOTE 19-ECONOMIC DEPENDENCY Statement of Financial Accounting Standards (SFAS) No. 14requiresdisclosure in financial statements of a situation where one entity provides more than 10% of the audited entity'srevenue. The Minimum Foundation funding provided by the state to all public school systems in Louisiana isprimarily based on October 1 student count. The state provided $64,280,880 to the School Board, which representsapproximately 47.7% of the School Board's total revenue for the year.

NOTE 20 - STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY

A. Excess of Expenditures Over Appropriations in Individual Funds The following individual funds had actualexpenditures over budgeted expenditures for the year ended June 30,2004:

UnfavorableBudget Actual Variance

General Fund $ 110,972,617 $ 111,247,385 $ 274,768

Actual expenditures exceeded appropriations as a result of unanticipated expenditures occurring in the month of Juneafter the last budget revision.

53


REQUIRED SUPPLEMENTALINFORMATION

54

Bossier Parish School BoardBudgetary Comparison Schedule

General Fund and Major Special Revenue Funds With Legally Adopted Annual Budgets

GENERAL FUND The general fund accounts for all activities of the School Board except those that are accountedfor in other funds.

SALES TAX The sales tax fund accounts for the collection of sales tax in Bossier Parish applicable to the SchoolBoard.

55


GENERAL FUNDBudgetary Comparison ScheduleFor the Year Ended June 30, 2004 Exhibit 1-1

BUDGETARY FUND BALANCES, BEGINNING $

Resources (inflows)

Local sources:

Taxes:

Ad valorem

Interest earnings

Other

State sources:

Equalization

OtherFederal sourcesTransfers from other funds

Amounts available for appropriations

Charges to appropriations (outflows)

General government:

Instruction:

Regular programs

Special programs

Other instructional programs

Support services:

Student services

Instructional staff, support



Business services

Plant services


Central services

Community service programs

Capital Outlay

Debt service:Principal retirement

Interest and bank charges

Transfers to other funds

Total charges to appropriations

VARIANCE WITH

BUDGETED

ORIGINAL

$ 5,641,798!

20.043,395

115,150

1.896,473

60,455,370

2,281,6372.394,296

22.000.000

114.828.119

45,609,885

12,897,736

9,048,523

4,718,448

5.224,958

1,041,890

8,725,984

1,111,467

11,170,949

7,327,200

1,073,361

45.1200

753.39529,593

150.000

108.928.509

$ 5.899.610 3

AMOUNTS

FINAL

5 8,060,849

20,042.735

84,890

2,294,427

62,529,566

2,866,6942,513,855

25.010.617

123.403.633

45,689,080

13,918,643

10,474,203

4,882,112

5,323,292

781,189

7,540,722

1,197,035

12,046.073

6,541.217

936,067

45.120

435,560

977,36729,281

155.656

110.972.617

I 12.431.016

ACTUAL

AMOUNTS

(Budnetarv Basis)

$ 9,515,824 $

18,827,632

122,524

2,908.178

62.529,566

2.866,6942,344,977

24.854.633

123.970.028

45,924,409 $

13,918,643

10,474.202

4,882,111

5,323,292

820,629

7,540,722

612.739

12,481,634

6,541,217

936,067

200,7760

1,523,41367.531

0

111.247.385 $

$ 12.722.643 £

FINAL BUDGET

POSITIVE

_<NEGATIVE>

1,454,975

(1,215,103)

37,634

613,751

0

0

(168,878)(155.9841

566.395

(235,329)

0

1

1

0

(39,440)

0

584.296

(435,561)

0

0

(155.656)435,560

(546,046)(38,250)

155.656

(274.768)

291.627

SEE NOTES TO BUDGETARY COMPARISON SCHEDULES56


SPECIAL REVENUESALES TAX

Budgetary Comparison ScheduleFor the Year Ended June 30, 2004 Exhibit 1 -2

VARIANCE WITH

ACTUAL FINAL BUDGET

BUDGETED AMOUNTS AMOUNTS POSITIVE

ORIGINAL FINAL (Budgetary Basis) (NEGATIVE)

BUDGETARY FUND BALANCES, BEGINNING $ 0$ 0$ 0$ 0

Resources (inflows)

Local sources:

Taxes:

Sates tax 22.422.351 25.136.743 25.136.743 0

Amounts available for appropriations 22.422.3S1 25.136.743 25.136.743 Q_

Charges to appropriations (outflows)

General government:

Support services:

Genera! administration 225,000 126,126 282,110 (155,984)Transfers to other funds 22.197.351 25.010.617 24.854.633 155.984

Total charges to appropriations 22.422.351 25.136.743 25.136.743 Q_

BUDGETARY FUND BALANCES, ENDING S 0 S 0 $ 0 $ 0

SEE NOTES TO BUDGETARY COMPARISON SCHEDULES

57

Bossier Parish School BoardNotes to Budgetary Comparison Schedules


A. BUDGETS

General Budget Practices The School Board follows these procedures in establishing the budgetary data reflectedin the combined financial statements:

State statute requires budgets be adopted for the general fund and all special revenue funds.

Each year prior to September 15, the Superintendent submits to the Board proposed annual budgets for the generalfund and special revenue funds' budgets. Public hearings are conducted, prior to the Board's approval, to obtaintaxpayer comments. The operating budgets include proposed expenditures and the means of financing them.

Appropriations (unexpended budget balances) lapse at year-end.

Formal budget integration (within the accounting records) is employed as a management control device. All budgetsare controlled at the function level. Budget amounts included in the accompanying financial statements include theoriginal adopted budget and all subsequent amendments. These revisions were considered significant by the Board.All budget revisions are approved by the Board.

Budget Basis of Accounting All governmental funds' budgets are prepared on the modified accrual basis ofaccounting, a basis consistent with accounting principles generally accepted in the United States of America (GAAP).Budgeted amounts are as originally adopted or as amended by the Board. Legally, the Board must adopt a balancedbudget; that is, total budgeted revenues and other financing sources including fond balance must equal or exceed totalbudgeted expenditures and other financing uses. State statutes require the Board to amend its budgets when revenuesplus projected revenues within a fond are expected to be less than budgeted revenues by five percent or more and/orexpenditures within a fund are expected to exceed budgeted expenditures by five percent or more. The School Boardapproves budgets at the function level and management can transfer amounts between line items within a function.

B. EXCESS OF EXPENDITURES OVER BUDGET - MAJOR FUNDS

For those funds for which a budget to actual comparison was made, 2004 actual expenditures exceeded budgetedexpenditures at the level of budgetary control as follows:

Expenditures UnfavorableBudget Actual Variance

General FundRegular Programs $45,689,080 $45,924,409 $235,329General Administration 781,189 820,629 39,440Plant Services 12,046,073 12,481,634 435,561Community service programs 45,120 200,776 155,656Principal retirement 977,367 1523,413 546,046Interest and bank charges 29,281 67,531 38,250

Sales TaxGeneral Administration 126,126 282,110 155,984

58


Notes to the Budgetary Comparison ScheduleFor the Year Ended June 30, 2004

Note C- Budget to GAAP Reconciliation - Explanation of differences between budgetary inflows and outflows andGAAP revenues and expenditures

GENERALFUND

SALESTAX

Spurcesflnflows of resources:

Actual amounts (budgetary basis) "available for appropriation"from the Budgetary Comparison Schedule

The fund balance at the beginning of the year is a budgetaryresource but is not a current year revenue for financialreporting purposes

Transfers from other funds are inflows of budgetary resourcesbut are not revenues for financial reporting purposes

Proceeds from capital lease are inflows of budgetary resources but arenot revenues for financial reporting purposes

Total revenues as reported on the Statement of Revenues,Expenditures, and Changes in Fund Balances -Governmental Funds

$ 123,970,028 $ 25,136,743

(9,515,824)

(24,854,633)

$ 89.599.571 S 25,136.743

Uses/outflows of resources:

Actual amounts (budgetary basis) "Total charges toappropriations" from the Budgetary Comparison Schedule

Transfer to other funds are outflows of budgetary resourcesbut are not expenditures for financial reporting purposes

Total expenditures as reported on the Statement of Revenues,Expenditures, and Changes in Fund Balances -Governmental Funds

$ 111,247,385 $ 25,136,743

0 f24.854.633)

S 111.247.385 $ 282,110

59


SUPPLEMENTAL INFORMATION

60


COMBININGNONMAJOR GOVERNMENTAL FUNDS

BY FUND TYPE

61


NONMAJOR GOVERNMENTAL FUNDSCombining Balance Sheet - By Fund Type

June 30, 2004Exhibit 2

ASSETS


Receivables

Interfund receivables

Inventory

Prepaid expenses

TOTAL ASSETS


Liabilities:Accounts, salaries and other payables

Interfund payables

Deferred revenue

Total Liabilities

Fund Balances:

Reserved for inventory

Unreserved, reported in

Special revenue

Total Fund Balances

TOTAL LIABILITIES AND FUND BALANCES

SPECIAL

REVENUE

$ 4,488,086 $

734,777

1,144

34.370

0

5.258.377

2,030,967

1,258.553

8.126

3.297.646

26,496

1.934.235

1.960.731

$ 5.258.377 S

CAPITAL

PROJECTS

83,903 $

0

1,731,814

0

0

1.815.717

77,979

1 ,737.738

0

1.815.717

0

0

0

1.815.717 S

TOTAL

4,571,989

734,777

1,732,958

34,370

0

7.074.094

2,108,946

2,996,291

8.126

5.113.363

26,496

1.934.235

1.960.731

7.074.094

62


NQNMAJOR GOVERNMENTAL FUNDSCombining Statement of Revenues, Expenditures,

and Changes in Fund Balances - By Fund TypeFor the Year Ended June 30, 2004 Exhibit 3

REVENUES

Local sources:

Interest earningsFood services

OtherState sources:Equalization

OtherFederal sources

Total Revenues

EXPENDITURESCurrent:Instruction:

Regular programsSpecial programs

Other instructional programsSupport services:

Student servicesInstructional staff supportGeneral administrationSchool administration

Business servicesPlant servicesStudent transportation services

Central servicesFood services

Capital outlay

Total Expenditures

EXCESS (Deficiency) OF REVENUESOVER EXPENDITURES


FUND BALANCES - ENDING

SPECIAL

REVENUE

$ 4,805 $

2,243,896

84,198

1,751,314

2,185,981

10.622.977

16.893.171

565,935

1,920,196

850,446

955,828

1,930,812

917,374

62119,380

154.924

51,536

5,532

7,862,144

0

15.334.169

1,559,002

401 .729

CAPITAL

PROJECT

5,122 $00

000

5.122

000

000000000

1.922.108

1.922.108

(1,916,986)

1.916.986

TOTAL

9,927

2,243,896

84,198

1,751,314

2,185,981

10.622.977

16.898.293

565,935

1,920,196

850,446

955,828

1,930,812

917,374

62119,380

154,924

51,536

5,532

7,862,144

1.922.108

17.256.277

(357,984)

2.318.715

S 1.960.731 S 0 $ 1.960.731

63

Bossier Parish School BoardBentoB, Louisiana

64


Nonmajor Special Revenue Funds

TITLE I To improve the educational opportunities of educationally deprived children by helping them succeed hithe regular school program, attain grade level proficiency and improve achievement in basic and more advancedskills. Primarily for provision of compensatory instructional activities to educationally deprived children that reside inlow-income areas and have been selected on the basis of a needs assessment Services supplement, not supplant,those normally provided by state and local educational agencies.

TITLE II This program was designed to improve the skills of teachers and the quality of instruction in mathematicsand science, also to increase the accessibility of such instruction to all students.

TITLE in To ensure that limited English proficient children (LEP) and youth, including immigrant children andyouth, attain English proficiency and meet the same challenging state academic content and student academicachievement standards as all children and youth are expected to meet

TITLE IV To establish state and local programs of alcohol and drug abuse education and prevention coordinatedwith related community efforts and resources.

TITLE V To assist state and local educational agencies in the reform of elementary and secondary education.

SPECIAL EDUCATION

STATE GRANTS To provide grants to states to assist them in providing a free appropriate public education toall children with disabilities.

PRESCHOOL To provide grants to states to assist them in providing a free appropriate public education topreschool disabled children aged three through five years.

REGION VII SERVICE CENTER This program was designed to provide workshops for teachers andadministrators. The Teacher Evaluation Program is coordinated through this program. Workshops provide points toadministrators towards their continuing education.

SCHOOL FOOD SERVICE This program was designed to assist through cash grants and food donations inproviding a nutritious breakfast and lunch service for school students and to encourage the domestic consumption ofnutritious agricultural commodities.

LOUISIANA EDUCATIONAL EXCELLENCE Louisiana Revised Statute (LRS): 39:98.1-98.5 established theEducation Excellence Fund (EEF) as a component of the Millennium Trust. By legislative mandate, the StateDepartment of Education has the responsibility of providing for the appropriations and oversight of monies from theEducation Excellence Fund with the specific purpose of ensuring that all expenditures are used to support "excellencein educational practice."

65


NONMAJOR SPECIAL REVENUE FUNDSCombining Balance Sheet

June 30, 2004

TITLE I TITLE II TITLE III TITLE IV

ASSETSCash and cash equivalentsReceivablesInterfund receivables

Inventory

TOTAL ASSETS

LIABILITIES AND FUND BALANCESLiabilities:

Accounts, salaries and other payablesInterfund payableDeferred revenues

Total Liabilities

Fund Balances:Reserved for inventoryUnreserved - undesignated

Total fund balances

$ • 975,186 $

74,404

1,1440

1 .050.734

612,507

438,227

0

1.050.734

00

0

69,673 $

262,869

00

332.542

185,303

146,987

252

332.542

00

0

315 $

17800

493

(203)

6960

493

00

0

9,842

107,968

00

117.810

98,163

19.647

0

117.810

00

0

TOTAL LIABILITIES AND FUND BALANCES $_ 1.050.734 S 332,542 $_ 493 $ 117.810

66

Exhibit 4

REGION VII SCHOOL LOUISIANA

SPECIAL SERVICE FOOD EDUCATIONAL

TITLE V EDUCATION PRESCHOOL CENTER SERVICE EXCELLENCE

$ 67,425 $

36,524

00

103.949

97,578

6,371

0

103.949

00

0

$ 103.949 $

450,551 $

170,95900

621.510

356,806

264,704

0

621.510

00

0

621.510 $

27,469 $

20,86900

48.338

32,359

15,979

0

48.338

00

0

48.338 $

0 $38,319

00

38.319

7,953

28,892

0

36.845

01.474

1.474

38.319 $

741,725$21,961

034.370

798.056

639,638

72,555

7.874

720.067

26,49651.493

77.989

798.056 $

2,145,900 $

72600

2.146.626

863264,495

0

265.358

01.881.268

1.881.268

2.146.626 $

TOTAL

4,488,086734,777

1,14434.370

5.258.377

2,030,967

1,258.553

8.126

3.297.646

26,4961.934.235

1.960.731

5.258.377

67


NONMAJOR SPECIAL REVENUE FUNDSCombining Statement of Revenues, Expenditures,


TITLE I TITLE II TITLE TITLE IV

REVENUES

Local sources:

Interest earnings

Food service

Other

State sources:

Equalization

Other

Federal sources:

Total revenues

EXPENDITURES

Current:

Instruction:

Regular programs

Special programsOther instructional programs

Support services:

Student services




Business servicesPlant services


Central services

Food services

Total expenditures



FUND BALANCES - ENDING

$ 0$00

00

2.809.446

2.809.446

57,539

1,475,997

0

331,761

346,228

572,089

5425,654

378700

2.809.446

0

0

$ 0$

0 $00

00

1.065.054

1.065.054

508,396

14387,617

0294,151

116,445

03,000

49,770

0

5,532

0

1.065.054

0

0

O S

0 $00

00

22.703

22.703

02,701

16,983

02,210

8090

00000

22.703

0

0

O S

0

00

00

535.640

535.640

0

600313,582

85,947

55,705

27,254

8

1,73133,606

17,207

0

535.640

0

0

0

68

Exhibit 5

SPECIALREGION VIISERVICE

TITLE V EDUCATION PRESCHOOL CENTER

$ 0$0

0

00

106.063

106.063

0

45,8600

0

55.2653,811

0

1,1270

0

0

0

106.063

0

0

£ OS

0 $

0

0

0

0

2.286.591

2.286.591

0

391,03832,691

538,1201,047,200

123,9470

80,496

38,85734,242

0

0

2.286.591

0

0

0 $

0 $

00

0

0

109.558

109.558

0

3,8570

0

77,46128,240

0

0

0

0

0

0

109.558

0

0

0 $

0 $0

84,198

0

0

0

84.198

0

0

0

0

0

44,7790

7,372

32,6540

0

0

84.805

(607)

2.081

1.474 $

SCHOOL LOUISIANAFOOD EDUCATIONAL

SERVICE EXCELLENCE

1,587 $2,243,896

0

1,751,3140

3.687.922

7.684.719

0

0

0

0

0

0

0

0

0

0

0

7.862.144

7.862.144

(177,425)

255.414

77.989 S

3,218 $0

0

0

2,185,9810

2.189.199

0

0

399,573

0

52,5920

0

0

0

0

0

0

452.165

1.737,034

144.234

1.881.268 $

TOTAL

4,8052.243,896

84,198

1,751,3142,185,981

10.622.977

16.893.171

565,935

1,920,196850.446

955,8281,930,812

917,37462

119.380154,92451,5365.532

7.862.144

15.334.169

1,559,002

401.729

1.960.731

69


NONMAJOR SPECIAL REVENUE FUNDSSchedule of Revenues, Expenditures, and Changesin Fund Balance - Budget (GAAP Basis) and Actual


Exhibit 6-1

REVENUES

Federal sources

Total revenues


InstructionSupport services:

Student servicesInstructional staff supportGeneral administrationSchool administrationBusiness servicesPlant servicesStudent transportation services

Total expenditures


OVER EXPENDITURES

FUND BALANCE AT BEGINNING OF YEAR

BUDGET

*TITLE |***************************

VARIANCEFAVORABLE

ACTUAL (UN FAVORABLE^

$ 2.809.446 $

2.809.446

1,974,449

331 ,761375,528

127,708

0000

2.809.446

2.809.446 S

2.809.446

1 ,533,536

331.761

346,228

572,089

5425,654

3787

2.809.446

0

0

440,913

029,300

(444,381)

(54)(25,654)

(37)(871

0

FUND BALANCE AT END OF YEAR 0 $_ O S

70




Exhibit 6-2

*******************-T | TI F 11*

BUDGET

VARIANCEFAVORABLE

ACTUAL (UNFAVORABLE)

REVENUES

Federal sources

Total revenues

EXPENDITURES

Current:

Instruction

Support services:


General administrationBusiness services

Plant services

Central services

Total expenditures


OVER EXPENDITURES


$ 1.065.055 $

1.065.055

657,200

359,803

48,0520

0

0

1 .065.055

0

0

1.065.054 $

.. 1.065.054

596,156

294,151

116,4453,000

49,770

5.532

1.065.054

0

0

(1t

m

61,044

65,652

(68,393)(3,000)

(49,770)(5.5W.\

1

0

0

FUND BALANCE AT END OF YEAR .0 $. 0 $_

71




Exhibit 6-3

'TITLE ill*

BUDGET

VARIANCEFAVORABLE

ACTUAL (UNFAVORABLE!

REVENUES

Federal sources 22.703 S 22.703 $

Total revenues 22.703 22.703


Instruction

Support services:Instructional staff supportGeneral administration

Total expenditures



20,064 19,684 380

2,210429

22.703

0

0

2,210809

22.703

0

0

0

(3801

0

0

0

FUND BALANCE AT END OF YEAR 0 $

72




Exhibit 6-4

***TITLE IV*

BUDGET

VARIANCEFAVORABLE


REVENUESFederal sources 535.640 $ 535.640 $

Total revenues 535.640 535.640

EXPENDITURES

Current:Instruction

Support services:Student services

Instructional staff supportGeneral administrationSchool administrationBusiness servicesPlant servicesStudent transportation services

Total expenditures

305,873 314,182 (8,309)

101,484

63,92113,549

00

33,60617.207

535.640

85,947

55,70527,254

a1,731

33,60617.207

535.640

15.537

8,216(13,705)

(8)(1,731)

00

0



FUND BALANCE AT END OF YEAR 0 $_ 0 $

73




Exhibit 6-5

'TITLE V**

REVENUES

Federal sources

Total revenues

EXPENDITURES

Current:

Instruction

Support services:

Instructional staff supportGeneral administration

Business services

Total expenditures


OVER EXPENDITURES


FUND BALANCE AT END OF YEAR

BUDGET

VARIANCE

FAVORABLEACTUAL (UNFAVORABLE)

$ 106.063 $

106.063

45,860

56,9853,218

0

106.063

0

0

106.063 S

106.063

45,860

55,2653,8111.127

106.063

0

0

0

0

0

1,720(593)

(1.1271

0

0

0

0 $

74




Exhibit 6-6

'SPECIAL EDUCATION1

BUDGET

VARIANCE

FAVORABLE

ACTUAL ^UNFAVORABLE!

REVENUES

Federal sources 2.286.591 £ 2.286.591 S

Total revenues 2.286.591 2.286.591

EXPENDITURES

Current:

Instruction

Support services:

Student services



Business services

Plant services


Total expenditures


OVER EXPENDITURES


451,780 423,729 28,051

239,536

1,353,539

106,667

77,747

21,263

36.059

2.286.591

538,120

1,047,200

123,947

80,496

38,857

34.242

2.286.591

(298,584)

306,339

(17,280)

(2,749)

(17,594)

1.817

0

FUND BALANCE AT END OF YEAR JLS. 0 $_

75


NONMAJOR SPECIAL REVENUE FUNDSSchedule of Revenues, Expenditures, and Changesin Fund Balance - Budget {GAAP Basis) and Actual


Exhibit 6-7

'PRESCHOOL*

BUDGET

VARIANCE


REVENUES

Federal sources

Total revenues

EXPENDITURES

Current:

Instruction

Support services:



Total expenditures


OVER EXPENDITURES



S 109.558 S

109.558

3,857

100,820

4.881

109.558

0

0

S 0 $

109.558 $

109.558

3,857

77,461

28.240

109.558

0

0

0 S

0

0

0

23,359

(23.359>

0

0

0

0

76




Exhibit 6-8

'REGION VII SERVICE CENTER****'**********

REVENUESLocal sources:

Other

Total revenues

EXPENDITURES

Current:

Support services:


Business servicesPlant services

Total expenditures


OVER EXPENDITURES



BUDGET

VARIANCEFAVORABLE


84.198 $ 84,198 $_

84.198

44,7797,372

32.654

84.805

(607)

2.081

$ 1.474 $

84.198

44,7797,372

32.654

84.805

(607)

2.081

1.474 $

0

000

0

0

0

0

77




Exhibit 6-9

*******************gCHQOL FOOD SERVICE*

BUDGET

VARIANCE


REVENUES

Local sources:

Interest earnings

Food service

State sources:Equalization

Federal sources

Total revenues

EXPENDITURES

Current:

Food services

Total expenditures


OVER EXPENDITURES



$ 1,587 $

2,243,896

1,751,314

3.687.922

7.684.719

7.862.144

7.862.144

(177,425)

255.414

$ 77.989 $

1.587 $

2,243.896

1.751,314

3.687.922

7.684.719

7.862.144

7.862.144

(177,425)

255,414

77.989 $

0

0

00

0

0

0

0

0

0

78




Exhibit 6-10

'""LOUISIANA EDUCATIONAL EXCELLENCE*****

VARIANCE

REVENUES

Local sources:

Interest earnings

State sources

Total revenues

EXPENDITURES

Current:Instruction

Support services:


Total expenditures


OVER EXPENDITURES


BUDGETFAVORABLE


$ 3,218 $2.185.981

2.189.199

452,164

0

452.164

1,737,035

144.234

3,218 $2.185.981

2.189.199

399,573

52.592

452.165

1,737,034

144.234

00

0

52.591

f52.592)

m

0)

0

FUND BALANCE AT END OF YEAR 1.881.269 £ 1.881.268 $ ill

79


Nonmajor Capital Projects Funds

One-Half Cent Sales Tax Air Conditioner Fund To account for the acquisition and/or construction of majorcapital facilities by the School Board. Proceeds from general obligation bond sales are accounted for in this fund untilthe capital projects are completed.

QZAB Loan Fund To account for the proceeds from the Qualified Zone Academy Bond Program as well as theexpenditure of those funds for capital purposes within the requirements of the debt.

80


NONMAJOR CAPITAL PROJECT FUNDSCombining Balance Sheet

June 30, 2004 Exhibit 7

ASSETSCash and cash equivalents

Interfund receivable

Total assets


Liabilities:Accounts, salaries and other payablesInterfund payable

Total liabilities

Fund balances:

Undesignated

Total Liabilities and Fund Balances

ONE-HALF CENTSALES TAX AIRCONDITIONER

$ 65,469 $

1.672.269

1.737.738

01.737.738

1.737.738

0

QZAB

LOAN TOTAL

18,434 $ 83,903

59.545 1.731.814

77.979 1.815.717

77,979 77,9790 1.737.738

77.979 1.815.717

0 0

S 1.737.738 S 77.979 $ 1.815.717

81


NONMAJOR CAPITAL PROJECT FUNDSCombining Statement of Revenues, Expenditures,


Exhibit 8

ONE-HALF CENT

SALES TAX AIR QZAB

CONDITIONER LOAN

REVENUES

Local sources:

Investment earnings

Total revenues

EXPENDITURESCapital outlay

Total expenditures


OVER EXPENDITURES

FUND BALANCE - BEGINNING

TOTAL

$ 0 $ 5.122 $

0 5.122

0 1.922.108

0 1.922.108

0 (1,916,986)

0 1.916.986

5.122

5.122

1.922.108

1.922.108

(1,916,986)

1.916.986

FUND BALANCE - ENDING _0_$_ _Q_$_

82


Agency Funds

SCHOOL ACTIVITIES FUND The activities of the various individual school accounts are accounted for in theschool activities agency fund. While the accounts are under the supervision of the School Board, they belong to theindividual schools or their student bodies and are not available for use by the School Board.

83


SCHOOL ACTIVITY AGENCY FUNDStatement of Changes In Assets and Liabilities

For the Year June 30, 2004 Exhibit 9

Balance,

July 1.2003 Additions

Balance,

Deductions June 30. 2004

'SCHOOL ACITIVTY FUND*

ASSETS

Cash and cash equivalents 1.716.192 S 6.035.910 £ 6.019.701 $ 1.732.401

LIABILITIES

Deposits due others 1.716.192 $ 6.035.910 $ 6.019.701 S 1.732.401

84


Exhibit 10SCHOOL ACTIVITIES AGENCY FUND

Schedule of Changes in Deposits Due OthersFor the Year Ended June 30, 2004

SCHOOL

Adult Learning Center

Airline HighApollo ElementaryBellaire Elementary

Benton Elementary

Benton MiddleBenton HighBossier Achievement Center

Bossier Elementary

Bossier High

Bossier Technical Center

Butler ElementaryCarrie Martin Elementary

Central Park Elementary

Cope Middle

Curtis ElementaryElm Grove MiddleGreenacres MiddleHaughton HighHaughton Middle

Ken- ElementaryLife Skills CenterMeadowview ElementaryMitchell Education CenterParkway High

Plain Dealing MiddlePlain Dealing HighPlantation Park ElementaryPlatt ElementaryPrinceton Elementary

Rusheon Middle

Stockwell Elementary

Sun City Elementary

T. L. Rodes Elementary

Waller Elementary

Total

Balance,

Beainnina

$ 5,271 383,92026,36495,36241,640

133,825124,25915,888

33,127

100,945

16,143

1,34811,148

31,38053,104

44,77590,48246,452

123,49374,799

47,414

4,45170,63920,44375,022

12,00845,5847,950

52,26744,890

103,24015,452

5,197

32,610

25.300

$ 1.716.192 $

Additions

i 12,742668,458192,170154,667157,720

274,300549,80449,216

37,884

419,012

35,343

0

37,675

55,185207,663

89,514308,953219,370614,731214,608

60,6998,175

48,5629,331

548,521

12

163,88170,436

120,036149,731

161,126127,772

85,980

106,66175.972

6.035.910 3

Deductions

$ 13,235 5681,160198,605171,104168,225

266,542544,32248,719

50,607

408,489

29,592

1,34835,865

56,525215,442

91,773287,811214,528594,342217,606

70,1826,272

46,75010,948

527,766

12,020163,19067,204

113,595135,529

159,928136,543

76,933

116,898

80.103

J 6.019.701 $

Balance,

Ending

I 4,778

71,21819,92978.92531,135

141,583129,741

16,385

20,404

111,468

21,894

0

12,958

30,04045,325

42,516111,62451,294

143,88271,801

37,9316,354

72,45118,82695,777

0

46,27511,18258,70859,092

104,4386,681

14,244

22,37321.169

1.732.401

85


CAPITAL ASSETSUSED IN THE OPERATION

OF GOVERNMENTAL FUNDS

86


SCHEDULE OF CAPITAL ASSETS -BY SOURCE


CAPITAL ASSETS:

Land

Buildings and improvements

Furniture and equipmentTransportation equipment

TOTAL CAPITAL ASSETS

557,469

120,254,497

24,900,5928.638.277

$ 154.350.835

INVESTMENT IN CAPITAL ASSETS:

Investment prior to June 30, 1980

Capita! Projects Funds

General Fund

School Food Service Fund

Federal programs

State programs

Donations

School Activity Agency Fund

TOTAL INVESTMENT IN CAPITAL ASSETS

66,154,106

55,019,142

25,891,159

533,817

3,373,127

2,535,112

734,525

109.847

$ 154.350.835

87


SCHEDULE OF CAPITAL ASSETS - BY FUNCTION AND ACTIVITY


FUNCTION AND ACTIVITY

Instructional

High schools

Middle schools

Elementary schools

Parish wide textbooks

Total instructional

Supporting services

Pupil support services

Instructional staff support services

General and school administration

Business services

Operation and maintenance of plant

Central services

Food Service

Transportation

TOTAL CAPITAL ASSETS

ALLOCATED TO FUNCTIONS

TOTAL

$ 36,706,750 $

32,262,040

40,254,445

11.099.131

120.322.366

855,432

7,919,052

5,235,665

4,170,075

429,187

1,137,472

5,618,185

8.663.401

$ 154.350.835 ?

LAND

143,594

319,426

25,310

0

488.330

34,999

5,500

17,720

10.000

920

0

0

0

557.469

BUILDINGS

AND

IMPROVEMENTS

$ 32,475,202 $

29,733,911

37,579,102

0

99.788.215

788,466

5,301,054

4,425,422

4,009,238

61,436

639,285

5.216,257

25.124

$ 120.254.497 S

FURNITURE

AND

EQUIPMENT

4,087,954

2,208,703

2,650,033

11.099.131

20.045.821

31,967

2,612,498

792,523

150,837

366,831

498,187

401,928

0

24.900.592

TRANSPORTATION

EQUIPMENT

$ 0

0

0

0

0

0

0

0

0

00

08.638.277

$ 8 638 277

88


General Exhibit 13

Schedule of Compensation Paid Board MembersFor the Year Ended June 30, 2004

The schedule of compensation paid School Board members is in compliance with House Concurrent ResolutionNo. 54 of the 1979 Session of the Louisiana Legislature. Compensation of the School Board members is included inthe general administrative expenditures of the general fund. In accordance with Louisiana Revised Statute 17:56, theSchool Board members have elected the monthly payment method of compensation. Under this method, eachmember of the School Board receives $800 per month. The president receives an additional $100 per month forperforming the duties of the president.

Board Member Amount

J. W. Slack, President $ 10,050

Henry L. Burns 9,450

Julian Darby 9,450

Gary K. Dowden 9,450

George C. Finck 9,450

Mack Knotts 9,450

William C. Kostelka 9,450

Gloria C. Simison 9,450

Kenneth Wiggins 10,050

Ronald A. Griggs 9,450

Michael S. Mosura, II 9,450

Jack E. Raley 9.450

Total

89

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Single Audit ReportAs of and for the Year Ended June 30,2004


Table of Contents

OTHER REPORTS REQUIRED BY GOVERNMENT AUDITING STANDARDS ANDBY OFFICE OF MANAGEMENT AND BUDGET (OMB} CIRCULAR NO. A-133

Report on Internal Control Over Financial Reporting and on Compliance and Other MattersBased on an Audit of Financial Statements Performed in Accordance WithGovernment Auditing Standards 1-2

Report on Compliance With Requirements Applicable to Each Major Program andInternal Control Over Compliance in Accordance With OMB Circular No. A-133 3-4

Schedule of Expenditures of Federal Awards 5-6

Notes to the Schedule of Expenditures of Federal Awards 7

Schedule of Findings and Questioned Costs 8

Summary Schedule of Prior Audit Findings 9-10

OTHER INFORMATION

Management Letter Items

Management Letter 11-12

Status of Prior Management Letter Items 13

Agreed-Upon Procedures

Independent Accountants' Report on Applying Agreed-upon Procedures 14-17

School Board Prepared Performance and Statistical Data Schedules 18-27

ftEEN & WILUAAl Tirn Green>CPA

°^ *<V ALLEN, GREEN & WILLIAMSON, LLP M . W11.• * • ' * Margie Williamson, CPACERTIFIED PUBLIC ACCOUNTANTS

P. O. Box 6075 ~~Monroe, LA 71211-6075 Ernest L. Altai, CPA

2414 Ferrand Street Phone: (318) 388-4422 (Retired)Monroe, LA 71201 Fax: (318) 388-4664 19g3

Toll-free: (888)741-0205www.allengreencpa.com

Report on Internal Control Over Financial Reporting and on Complianceand Other Matters Based on an Audit of Financial Statements

Performed in Accordance With Government Auditing Standards


We have audited the financial statements of the governmental activities, each major fund, and the aggregate remainingfund information of the Bossier Parish School Board, as of and for the year ended June 30,2004, which collectivelycomprise the School Board's basic financial statements, and have issued our report thereon dated December 27,2004.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 Government Auditing Standards, issued by theComptroller General of the United States of America.

Internal Control Over Financial ReportingIn planning and performing our audit, we considered the School Board's internal control over financial reporting inorder to determine our auditing procedures for the purpose of expressing our opinion on the financial statements andnot to provide an opinion on the internal control over financial reporting. Our consideration of the internal controlover financial reporting would not necessarily disclose all matters in the internal control that might be materialweaknesses. A material weakness is a reportable condition in which the design or operation of one or more of theinternal control components does not reduce to a relatively low level the risk that misstatements caused by error orfraud in amounts that would be material in relation to the financial statements being audited may occur and not bedetected within a timely period by employees in the normal course of performing their assigned functions. We notedno matters involving the internal control over financial reporting and its operation that we consider to be materialweaknesses.

Compliance and Other MattersAs part of obtaining reasonable assurance about whether the School Board's financial statements are free of materialmisstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grantagreements, noncompliance with which could have a direct and material effect on the determination of financialstatement amounts. However, providing an opinion on compliance with those provisions was not an objective of ouraudit, and accordingly, we doe not express such an opinion. The results of our tests disclosed no instances ofnoncompliance or other matters that are required to be reported under Government Auditing Standards.

Management Letter ItemsHowever, we noted an immaterial instance of noncompliance, which we have reported to management of the SchoolBoard in a separate letter dated December 27,2004.

This report is intended solely for the information and use of the Board, management, federal awarding agencies, andpass-through entities and is not intended to be and should not be used by anyone other than these specified parties.Although the intended use of these reports may be limited, under Louisiana Revised Statute 24:513 this report isdistributed by the Office of the Louisiana Legislative Auditor as a public document.


Monroe, LouisianaDecember 27, 2004

&w ALLEN, GREEN & WILLIAMSON, LLP TimGreen-CPA

V CERTIFIED PUBLIC ACCOUNTANTS Margie Williamson, CPA* P. O. Box 6075

Monroe, LA 71211-60752414 Ferrand Street Phone: (318) 388-4422 Ernest L. Allen, CPAMonroe, LA 71201 Fax:(318)388-4664 (Retired)

1963 - 2000Tolt-free: (888)741-0205

www.allengreencpa.com

Report on Compliance With Requirements Applicable toEach Major Program and Internal Control Over

Compliance in Accordance With OMB Circular No. A-133


ComplianceWe have audited the compliance of Bossier Parish School Board with the types of compliance requirements describedin the U. S. Office of Management and Budget (OMB) Circular No. A-133 Compliance Supplement that areapplicable to each of its major federal programs for the year ended June 30,2004. The School Board's major federalprograms are identified in the summary of auditors' results section of the accompanying schedule of findings andquestioned costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each ofits major federal programs is the responsibility of the School Board's management. Our responsibility is to express anopinion on the School Board's compliance based on our audit.

We conducted our audit of compliance in accordance with auditing standards generally accepted in the United Statesof America; the standards applicable to financial audits contained in Government Auditing Standards, issued by theComptroller General of the United States; and OMB Circular No. A-133, Audits of States, Local Governments, andNon-Profit Organizations. Those standards and OMB Circular No. A-133 require that we plan and perform the auditto obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred toabove that could have a direct and material effect on a major federal program occurred. An audit includes examining,on a test basis, evidence about the School Board's compliance with those requirements and performing such otherprocedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis forour opinion. Our audit does not provide a legal determination on the School Board's compliance with thoserequirements.

In our opinion, the School Board complied, in all material respects, with the requirements referred to above that areapplicable to each of its major federal programs for the year ended June 30, 2004.

Internal Control Over ComplianceThe management of the School Board is responsible for establishing and maintaining effective internal control overcompliance with requirements of laws, regulations, contracts and grants applicable to federal programs. In planningand performing our audit, we considered the School Board's internal control over compliance with requirements thatcould have a direct and material effect on a major federal program in order to determine our auditing procedures forthe purpose of expressing our opinion on compliance and to test and report on internal control over compliance inaccordance with OMB Circular No. A-133.

Also Located in Jena and Shreveport, LouisianaMember American Institute of Certified Public Accountants, Society of Louisiana Certified Public Accountants and


Our consideration of the internal control over compliance would not necessarily disclose all matters in the internalcontrol that might be material weaknesses. A material weakness is a reportable condition in which the design oroperation of one or more of the internal control components does not reduce to a relatively low level the risk thatnoncompliance with applicable requirements of laws, regulations, contracts and grants caused by error or fraud thatwould be material in relation to a major federal program being audited may occur and not be detected within a timelyperiod by employees in the normal course of performing their assigned functions. We noted no matters involving theinternal control over compliance and its operation that we consider to be material weaknesses.

Schedule of Expenditures of Federal AwardsWe have audited the financial statements of the governmental activities, each major fund, and the aggregate remainingfund information of the School Board, as of and for the year ended June 30,2004, and have issued our report thereondated December 27,2004. Our audit was performed for the purpose of forming opinions on the financial statementsthat collectively comprise the School Board's basic financial statements. The accompanying Schedule ofExpenditures of Federal Awards is presented for purposes of additional analysis as required by OMB Circular No.A-133 and is not a required part of the financial statements. Such information has been subjected to the auditingprocedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all materialrespects, in relation to the basic financial statements taken as a whole.


/ALLEN, GREEN & WILLIAMSON, LLP


Bossier Parish School BoardSchedule of Expenditures of Federal Awards


FEDERAL GRANTOR/PASS-THROUGH GRANTOR/PROGRAM NAME

CFDANumber

Pass-ThroughGrantor No. Expenditures

CASH FEDERAL AWARDS

United States Department of AgriculturePassed Through Louisiana Department of Education

Child Nutrition Cluster:School Breakfast Program 10.553 008-SL-006National School Lunch Program 10.555 008-SL-006

Passed Through Louisiana Department of TreasurySchool & Roads (National Forest Lands) 10.665 N/A

Total U. S. Department of Agriculture

United States Department of EducationDirect Programs:

Impact Aid (Title VIII) . 84.041 A N/APassed through Louisiana Department of Education:

Adult Education - State Grant ProgramTitle I Grants to Local Educational AgenciesSpecial Education Cluster:

Grants to States (Part B)Preschool Grants

Vocational Education:Basic Grants to StatesTech-Prep Education

Innovative Education Program Strategies - Title VTitle n (Improving Teacher Quality State Grants)Title III Program for Limited English Proficient ChildrenTitle IV (Safe and Drug-Free Schools)Title IV B 21st Century Grant

Total United States Department of Education

United States Department of Health and Human ServicesPassed through the Louisiana Department of Education:

Child Care and Development Block Grant(Starting Points Preschool) 93.575 0438-08

Temporary Assistance for Needy Families 93.558 N/ATotal United States Department of Health and Human Services

United States Department of Defense Direct ProgramsDepartment of the Army - ROTC N/A N/AFlood Control Project 12.106 N/A

Total United States Department of Defense Direct Program

E 696,4732,676,529

4.4313.377.433

896,719

84.00284.010

84.02784.173

84.04884.24384.29884.36784.36584.18684.287

0444-0804-TI-08

04-B1-08. 04-PI-08

28-04-09-28/BGSB08-03/04TP04-80-0804-50-0804-60-0804-70-0803-CC-08

249,3842,809,446

2,286,591109,558

210,578152,219106,063

1,065,05422.703105,687429.953

8.443.955

78,990522

79.512

749,0803.054

752.134

Bossier Parish School BoardSchedule of Expenditures of Federal Awards


FEDERAL GRANTOR/ CFDA Pass-ThroughPASS-THROUGH GRANTOR/PROGRAM NAME Number Grantor No. Expenditures

NONCASH FEDERAL AWARDSUnited States Department of Agriculture

Passed through Louisiana Department of Agriculture and ForestryFood Distribution (Commodities) 10.550 N/A 314.920

Total Noncash Federal Awards 314.920

Total Federal Expenditures $12,967,954

(concluded)

Bossier Parish School BoardNotes to the Schedule of Expenditures of Federal Awards


NOTE 1 - GENERAL The accompanying Schedule of Expenditures of Federal Awards includes the federal grantactivity of the Bossier Parish School Board and is presented on the modified accrual basis of accounting. Theinformation in this schedule is presented in accordance with the requirements of OMB Circular A-133, Audits ofStates, Local Governments, andNon-Profit Organizations. Therefore, some amounts presented in this schedule maydiffer from amounts presented in, or used in the preparation of, the financial statements.

NOTE 2 - NONCASH PROGRAMS Commodities received, which are noncash revenues, are valued using pricesprovided by the United States Department of Agriculture.

NOTE 3 - RELATIONSHIP TO FINANCIAL STATEMENTS Federal awards revenues are reported in theSchool Board's general-purpose financial statements as follows:

Funds Federal SourcesGeneral $2,344,977Other GovernmentalTitle I 2,809,446Title n 1,065,054Title m 22,703Title IV 535,640Title V 106,063Special Education 2,286,591Pre-School 109,558School Food Service 3.687.922

Total $12.967.954

NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS Amounts reported in the accompanyingschedule agree with the amounts reported in the related federal financial reports except for changes made to reflectamounts in accordance with accounting principles generally accepted in the United States of America.

NOTE 5 - MATCHING REVENUES For those funds that have matching revenues and state funding, federalexpenditures were determined by deducting matching revenues from total expenditures.

NOTE 6 - LOANS OUTSTANDING The Bossier Parish School Board had $210,639 of loan balances outstandingat June 30,2004. The proceeds of these loans were received in a previous fiscal year under former CFDA #66.702for asbestos removal.

Bossier Parish School BoardSchedule of Findings and Questioned Costs


PART I - Summary of the Auditors' Results

Financial Statement Audit

i. The type of audit report issued was unqualified.

ii. There were no reportable conditions required to be disclosed by Government Auditing Standards issued bythe Comptroller General of the United States.

iii. There were no instances of noncompliance considered material, as defined by the Government AuditingStandards, to the financial statements.

Audit of Federal Awards

iv. There were no reportable conditions required to be disclosed by OMB Circular No. A-133.

v. The type of report the auditor issued on compliance of major federal awards was unqualified.

vi. The audit disclosed no audit findings which the auditor is required to report under OMB Circular No.A-133, Section .510(a).

vii. The major federal awards are:

CFDA# Name of Federal Program or Cluster84.010 Title I Grants to Local Educational Agencies84.287 Title IV-B 21st Century GrantsN/A ROTC

Child Nutrition Cluster10.553 School Breakfast Program10.555 National School Lunch Program

viii. The dollar threshold used to distinguish between Type A and Type B programs as defined in OMBCircular No. A-133, Section .520(b) was $389,039

ix. The auditee does not qualify as a low-risk auditee under OMB Circular No. A-133, Section .530.

Bossier Parish School BoardSummary Schedule of Prior Audit Findings

June 30, 2004

Reference # and title: 03-F1 Accounting for Capital Assets

Entity-wide or program/department specific: This comment is entity-wide.

Conditions:

Tagging of Equipment The School Board does not presently use a tagging system to identify assets. The serialnumber is used as the identifier. However, an asset on the capital asset listing that is identified by one number mayhave multiple components, each of which may have a serial number. The serial number identifier is not consistentlyused. For example., computers have serial numbers on both the monitor and processor. Sometimes the serial numberon the monitor is the identifier reflected on the capital asset listing while other times the serial number on theprocessor is the identifier used.

Also some items do not have serial numbers and other items have multiple numbers. Allen, Green & Williamson,LLP audit procedures typically includes sampling the accuracy of the capital asset listing by both attempting to findcapital assets on the capital asset listing at the school/site, and by tracing capital assets randomly selected at theschool/site to the capital assets listing. We attempted to identify ten capital assets randomly selected at each of fourschools on the capital asset listing. Of the forty capital assets selected, twenty seven items could not be traced to thecapital asset listing.

We did not attempt to find capital assets on the capital assets listing at the school/sites because the capital asset listingdoes not provide information on the location of the capital asset at the school/site. Accordingly, finding a capital assetat the school/site would be extremely tune consuming.

Current-Year Additions Presently, there is no procedure in place to check the accuracy and completeness of additionsto the capital asset listing. The accounts payable check register is reviewed for new equipment purchases. When thecheck has cleared the bank account, the invoice is pulled and the information is added to the capital asset listing. Thispractice results in a time delay in adding assets to the capital asset listing and increases the probability that a capitalasset addition will be overlooked.

The Internal Auditor performed a review of the capital asset listing in August 2003 and several errors were noted suchas a vehicle costing $16,400 was listed with a cost of $1,640,000 and video equipment with a cost of $232.54 waslisted at a cost of $800,000.

In testing additions to capital assets Allen, Green & Williamson, LLP selected ten additions, five from the Schoo!Board prepared listing of additions and five from a review of the general ledger, to test for accuracy andcompleteness. We noted one asset with a cost of $1,172.66 was added to the listing with a cost of $92,556. Anotherasset addition was a modular building but the cost did not include the final payment (retainage) of $2,583. Sevencapital assets received late in the fiscal year were not included on the capital asset listing as of June 30. The receipt ofthe capital assets and the accounting recognition of the cost had been recognized in the year ended June 30,2003 butthe capital assets were not included on the capital asset listing. Of these seven capital assets, four were added to thecapital asset listing in July 2003. The other three assets had not been added to the listing as of October 2003.

Bossier Parish School BoardSummary Schedule of Prior Audit Findings

June 30,2004

Current-Year Deletions Schools turn in capital asset deletion forms to the central warehouse requesting that the itemsbe deleted from the listing. There is currently no system in place to ensure that tiie items included on these deletionforms are actually deleted from the capital asset listing. No deletions were recorded for the year ended June 30,2003.This seems highly unlikely considering the number of capital assets that are routinely replaced or junked during atypical year.

Depreciation Calculations and Useful Lives Information for the cost of capital assets, depreciation expense andaccumulated depreciation is included on the depreciation schedule. In testing depreciation expense we notednumerous calculations for depreciation expense which were incorrect. The data processing department was madeaware of these errors and a new report was generated with corrections, hi reviewing the schedule for useful lives ofassets, we noted numerous assets with useful lives which differed from the capital asset policy. These differenceswere noted mainly with older assets.

Capital Asset Reports The present format of the report makes a roll forward of the cost of capital asset cost andaccumulated depreciation difficult, an important step and control in the accounting and reporting of capital assets.Several reports must be used and pieced together to collect the information for capital asset cost and accumulateddepreciation. Also, the present format of the reports does not include the funding source for asset additions whichwould allow for a reconciliation with the general ledger.

Corrective action taken: The School Board contracted with an appraisal company to tag and appraise movableequipment. Field appraisers from this company started around the first of April appraising and tagging all movableitems. All locations were inventoried and all movable capital assets were tagged. In the process of tagging, a valuewas assigned for each item. The company used these values to build a depreciation schedule of movable capitalassets. The School Board's data processing department incorporated this depreciation schedule into the SchoolBoard's system. The buildings were already entered on the depreciation schedule so at this point the School Boardhad a complete capital asset depreciation schedule.

The School Board has developed procedures to ensure that the capital asset listing is updated on an ongoing basis.Capital assets purchased by the central office come through the warehouse. Every item that should be added to thedepreciation schedule is entered by a warehouse employee into the system. This information is downloaded to anemployee in the internal audit department who then adds these assets to the depreciation schedule. The accountingdepartment also gets this information. Items that are purchased by the schools with student activity funds are reportedby the schools monthly in their report filed with the internal audit department. The tagging of equipment is done bythe schools. The internal audit department issues the tags to the schools.

The internal audit department tests the capital asset listing at schools periodically. The external auditors performedinspections of capital assets while on location doing fieldwork. Five schools were tested. Twenty assets were testedat each school. All assets tested (100%) were located at each school.

10

.mtwin* ALLEN, GREEN & WILLIAMSON, LLP°^_ *Jn CERTIFIED PUBLIC ACCOUNTANTS Margie Williamson, CPA

* p-3ff LJ I\ \ £ Monroe, LA 71211-6075

*0 2414 Ferrand Street Phone: (318) 3S8-4422 Ernest L. Allen, CPAMonroe. Lft 71201 Fax: (318) 388-4664 (Retired)

1963 - 2000Toll-free: (888)741-0205

www.allengreencpa.com

Management Letter


In planning and performing our audit of the financial statements of the Bossier Parish School Board for the year endedJune 30, 2004, we considered the School Board's internal control to plan our auditing procedures for the purpose ofexpressing our opinions on the financial statements and not to provide assurance on the internal control.

However, during our audit, we noted certain matters involving the internal control and other operational matters thatare presented for your consideration. This letter does not affect our report dated December 27,2004, on the financialstatements of the School Board. We will review the status of these comments during our next audit engagement. Ourcomments and recommendations, all of which have been discussed with appropriate members of management, areintended to improve the internal control or result in other operating efficiencies. We will be pleased to discuss thesecomments in further detail at your convenience, to perform any additional study of these matters, or to assist you inimplementing the recommendations. Our comments and management's responses are summarized as follows:

04-M1 Uniform Unclaimed Property Act of 1997

Comment: The Uniform Unclaimed Property Act of 1997 (LSA-R.S. 9:151-181) appears to apply to both propertyand for wages or other compensation for personal services which is deemed abandoned one year after the propertybecomes distributable or the compensation becomes payable. The School Board is required to report the property andpay funds equal to the value of the property to the Secretary of the Louisiana Department of Revenue on an annualbasis.

Recommendation: The School Board should begin reporting on an annual basis any abandoned property andremitting funds to the Secretary of the Louisiana Department of Revenue in accordance with the Act.

Management's response: The School Board attempted to determine the payee for each outstanding accountspayable check and in most cases was successful. The payees were mailed a letter and a request for duplicate check.For those responding, a new check was issued. Checks for which the payee did not respond will be remitted to theState.

It is more difficult to determine the payee for payroll checks than for accounts payable checks; however, the payees ofthe largest checks have been determined. They will be notified in the same manner as the payees of the accountspayable checks and will be treated in like manner.

11

Also Located in Jena and Shreveport, LouisianaMember: American Institute of Certified Public Accountants, Society of Louisiana Certified Public Accountants and


Included immediately following this letter is a Status of Prior Management Letter Items. This information has notbeen audited by Allen, Green & Williamson, LLP, and no opinion is expressed. However, we did follow-up on priormanagement letter items and performed procedures to assess the reasonableness of the Status of Prior ManagementLetter Items prepared by Management, and we would report, as a current-year management letter item when Allen,Green & Williamson, LLP, concludes that the Status of Prior Management Letter Items materially misrepresents thestatus of any prior management letter item.

Our audit procedures are designed primarily to enable us to form opinions on the financial statements and, therefore,may not reveal all weaknesses in policies and procedures that may exist.


QjJjUr ^X<-*- +- Jt tt ^-^av^ ULlP



12

Bossier Parish School BoardStatus of Prior Management Letter Items

June 30,2004

03-M1 Segregation of Duties

Condition: The Payroll Department and the Personnel Department have access to add new employees to the systemor make changes to employee data. The Payroll Department should not have this level of access.

Management action taken: A procedure was established where a supervisor is notified via e-mail by the systemeach time a new employee is added or a change is made to employee data in the payroll system. The supervisoractively monitors additions and changes to ensure the integrity of payroll data.

03-M2 Uniform Unclaimed Property Act of 1997

Condition: The Uniform Unclaimed Property Act of 1997 (LSA-R.S. 9:151 -181) appears to apply to both propertyand for wages or other compensation for personal services which is deemed abandoned one year after the propertybecomes distributable or the compensation becomes payable. The School Board is required to report the property andpay funds equal to the value of the property to the Secretary of the Louisiana Department of Revenue on an annualbasis.

Management action planned: The School Board attempted to determine the payee for each outstanding accountspayable check and in most cases was successful. The payees were mailed a letter and a request for duplicate check.For those responding, a new check was issued. Checks for which the payee did not respond will be remitted to theState.

It is more difficult to determine the payee for payroll checks than for accounts payable checks; however, the payees ofthe largest checks have been determined. They will be notified in the same manner as the payees of the accountspayable checks and will be treated in like manner.

13

ALLEN, GREEN & WILLIAMSON, LLPCERTIFIED PUBLIC ACCOUNTANTS Margie Williamson, CPA

P. O. Box 6075Monroe, LA 71211-6075

2414 Ferrand Street Phone: (318) 388-4422 Ernest L. Allen, CPAMonroe, LA 71201 Fax: (318)388-4664 (Retired)

Never UndeS£ The Value!" ToWtee: (888)741-0205www.allengreencpa.com

INDEPENDENT ACCOUNTANTS' REPORTON APPLYING AGREED-UPON PROCEDURES


We have performed the procedures included in the Louisiana Governmental Audit Guide and enumerated below,which were agreed to by the management of the Bossier Parish School Board, Benton, Louisiana, and the LegislativeAuditor, State of Louisiana, solely to assist users in evaluating management's assertions about the performance andstatistical data accompanying the annual financial statements of the School Board and to determine whether thespecified schedules are free of obvious errors and omissions as provided by the Board of Elementary and SecondaryEducation (BESE). This agreed-upon procedures engagement was performed in accordance with standardsestablished by the American Institute of Certified Public Accountants and applicable standards of GovernmentAuditing Standards. The sufficiency of these procedures is solely the responsibility of the specified users of thereports. Consequently, we make no representation regarding the sufficiency of the procedures described below eitherfor the purpose for which this report has been requested or for any other purpose.

Our procedures and findings relate to the accompanying schedules of supplemental information and are as follows:

General Fund Instructional and Support Expenditures and Certain Local Revenue Sources (Schedule 1)

1. We selected a random sample of 25 transactions and reviewed supporting documentation to determine if thesampled expenditures/revenues are classified correctly and are reported in the proper amounts for each of thefollowing amounts reported on the schedule:

• Total General Fund Instructional Expenditures,

• Total General Fund Equipment Expenditures,

• Total Local Taxation Revenue,

• Total Local Earnings on Investment in Real Property,

• Total State Revenue in Lieu of Taxes,

• Nonpublic Textbook Revenue, and

• Nonpublic Transportation Revenue.

Comment: No exceptions were found as a result of applying agreed-upon procedures.

14

Also Located in Jena and Shreveport, LouisianaMember: American Institute of Certified Public Accountants, Society of Louisiana Certified Public Accountants and

American Institute of Certified Public Accountants Division for CPA FirmsEqual Opportunity Employer

Education Levels of Public School Staff (Schedule 2)

2. We reconciled the total number of full-time classroom teachers per the schedule "Experience of PublicPrincipals and Full-time Classroom Teachers" (Schedule 4) to the combined total number of fiill-time classroomteachers per this schedule and to school board supporting payroll records as of October 1.

Comment: From our review of the supporting payroll records, teachers, principals and assistant principals onsabbatical, who should not be included on the schedules could not easily be identified. Object code 112 and 111 wereused for those employees instead of the correct object code 140.

Management's Response: Object code 140 will be used to identify sabbatical leave in future reports to makereconciliation of this schedule less difficult.

3. We reconciled the combined total of principals and assistant principals per the schedule "Experience of PublicPrincipals and Full-time Classroom Teachers" (Schedule 4) to the combined total of principals and assistantprincipals per this schedule.


4. We obtained a list of full-time teachers, principals, and assistant principals by classification as of October 1 andas reported on the schedule. We traced a random sample of 25 teachers to the individual's personnel file anddetermine if the individual's education level was properly classified on the schedule.


Number and Type of Public Schools (Schedule 3)

5. We obtained a list of schools by type as reported on the schedule. We compared the list to the schools and gradelevels as reported on the Title I Grants to Local Educational Agencies (CFDA 84.010) application and/or theNational School Lunch Program (CFDA 10.555)


Experience of Public Principals andLFull-time Classroom Teachers^ (Schedule 4)

6. We obtained a list of full-time teachers, principals, and assistant principals by classification as ofOctober reported on the schedule and traced the same sample used in procedure 4 to the individual's personnelfile and determined if the individual's experience was properly classified on the schedule.


Public Staff Data (Schedule 5)

1. We obtained a list of all classroom teachers including their base salary, extra compensation, and ROTC orrehired retiree status as well as full-time equivalent as reported on the schedule and traced a random sample of25 teachers to the individual's personnel file and determined if the individual's salary, extra compensation, andfull-time equivalents were properly included on the schedule.


15

8. We recalculated the average salaries and full-time equivalents reported in the schedule.

Comment: From our review of the supporting payroll records, those teachers on sabbatical leave who should beexcluded from this calculation could not easily be identified. Object code 112 was used for those teachers instead ofthe correct object code 140.

Management's Response: Object code 140 will be used to identify sabbatical leave in future reports to make testingof this schedule less difficult

Class Size Characteristics Schedule 6)

9. We obtained a list of classes by school, school type, and class size as reported on the schedule and reconciledschool type classifications to Schedule 3 data, as obtained hi procedure 5. We then traced a random sample of10 classes to the October 1 roll books for those classes and determined if the class was properly classified on theschedule.


Louisiana Educational Assessment Program (LEAP) for the 21st century (Schedule 7)

10. We obtained test scores as provided by the testing authority and reconciled scores as reported by the testingauthority to scores reported in the schedule by the School Board.


The Graduation Exit Exam for the 21st Centwy(Schedule 8)



The Iowa Tests (Schedule 9)



We were not engaged to, and did not, perform an examination, the objective of which would be the expression of anopinion on management's assertions. Accordingly, we do not express such an opinion. Had we performed additionalprocedures, other matters might have come to our attention that would have been reported to you.

16

This report is intended solely for the use of management of the Bossier Parish School Board, the LouisianaDepartment of Education, the Louisiana Legislature, and the Legislative Auditor, State of Louisiana, and should notbe used by those who have not agreed to the procedures and taken responsibility for the sufficiency of the proceduresfor their purposes. Under Louisiana Revised Statute 24:513, this report is distributed by the Legislative Auditor as apublic document.


Monroe, LouisianaDecember 13, 2004

17

Schedule 1


General Fund instructional and Support Expendituresand Certain Local Revenue SourcesFor the Year Ended June 30,2004

General Fund Instructional and Equipment Expenditures

General Fund Instructional Expenditures:

Teacher and Student Interaction Activities:

Classroom Teacher Salaries $44,393,698

Other Instructional Staff Activities 5,173,832

Employee Benefits 16,935,252

Purchased Professional and Technical Services 30,303

Instructional Materials and Supplies 2,166,397

Instructional Equipment 601,300

Total Teacher and Student Interaction Activities

Other Instructional Activities

$69,300,782

153,689

Pupil Support Activities

Less: Equipment for Pupil Support Activities

Net Pupil Support Activities

4,882,113

8,355

4,873,758

Instructional Staff Services

Less: Equipment for Instructional Staff Services

Net Instructional Staff Services

Total General Fund Instructional Expenditures

Total General Fund Equipment Expenditures

5,259,580

0

5,259,580

$79,587,809

$996,820

Certain Local Revenue Sources

Local Taxation Revenue:

Constitutional Ad Valorem Taxes

Renewable Ad Valorem Tax

Debt Service Ad Valorem Tax

Up to 1% of Collections by the Sheriff on Taxes Other than School Taxes

Sales and Use Taxes

$1,591,021

17,238,054

1,208,250

417,118

25,136,743

18

Total Local Taxation Revenue $45,591,186=-.—..—., =±=

Local Earnings on Investment In Real Property:

Earnings from 16th Section Property 7,888

Earnings from Other Real Property 0

Total Local Earnings on Investment in Real Property 7,888

State Revenue in Lieu of Taxes:

Revenue Sharing - Constitutional Tax $325,065

Revenue Sharing - Other Taxes 230,952

Revenue Sharing - Excess Portion 0

Other Revenue in Lieu of Taxes 0

Total State Revenue in Lieu of Taxes $556,017

Nonpublic Textbook Revenue

Nonpublic Transportation Revenue

19

Schedule 2

Bossier Parish School BoardEducation Levels of Public School StaffAs of October 1,2003

Category

Less than a Bachelor's Degree

Bachelor's Degree

Master's Degree

Master's Degree +30

Specialist in Education

Ph.D. or Ed.D.

Total

Full-time Classroom Teachers

Certificated

Number

5

777.1

241.7

125.9

0

1

1150.7

Percent

0.4%

66.2%

20.6%

10.7%

0.0%

0.1%

98.0%

Uncertificated

Number

12

g2

10

0

24

Percent

1.0%

0.8%

0.2%

0.1%

0.0%

0.0%

2.0%

Principals & Assistant Principals

Certificated

Number

0

0

21

49

0

0

70

Percent

0.00%

0.00%

30.00%

70.00%

0.00%

0.00%

100.00%

Uncert if i cated

Number

0

0

0

0

0

0

0

Percent

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

20

Schedule 3

Bossier Parish School BoardNumber and Type of Public SchoolsFor the Year Ended June 30,2004

TypeElementaryMiddle/Jr. HighSecondaryCombinationTotal

Number16782

33

Note: Schools opened or closed during the fiscal year are included in this schedule.

21

Schedule 4

Bossier Parish School BoardExperience of Public Principals and Full-time Classroom TeachersAs of October 1,2003

Assistant Principals

Principals

Classroom Teachers

Total

0-1 Yr.

0

0

105.6

105.6

2-3 Yrs.

0

0

113.7

113.7

4-10 Yrs.

2

1

371.6

374.6

11 -14 Yrs.

1

0

137.0

138.0

15-19 Yrs.

7

2

135.9

144.9

20-24 Yrs.

12

11

107.0

130.0

25+Yrs.

16

18

203.8

237.8

Total

38

32

1174.7

1244.7

22

Schedule 5

Bossier Parish School BoardPublic School Staff DataFor the Year Ended June 30, 2004

All Classroom

Teachers

Classroom Teachers

Excluding ROTC

and Rehired Retirees

Average Classroom

Teachers' Salary

Deluding Extra Compensation

Average Classroom

Teachers' Salary

Excluding Extra Compensation

Mumber of Teacher Full-time

Equivalents (FTEs) used in

Computation of Average Salaries

$38,491.84

$37,732.96

1,173.20

$38,194.23

$37.434.17

1,153.20

Note: Figures reported include all sources of funding (i.e., federal, state, and local) but exclude employeebenefits. Generally, retired teachers rehired to teach receive less compensation than non-retired teachersand ROTC teachers receive more compensation because of a federal supplement. Therefore, theseteachers are excluded from the computation in the last column. This schedule excludes day-to-daysubstitutes and temporary employees.

23

Schedule 6

Bossier Parish School BoardClass Size Characteristics As of October 1, 2003

School Type

Elementary

Elementary Activity Classes

tfWdla/Jr. High

Wlddle/Jr. High Activity Classes

High

High Activity Classes

Combination

Combination Activity Classes

Class Size Ranae

1-20

Percent

43.BO

2950

18.30

55.90

51.00

73.10

100.00

100.00

Number

133

56

183

104

591

111

45

5

21-26

Percent

50.10

61.50

45.10

1B.80

29.30

14.10

0.00

0.00

Number

215

11E

451

35

339

22

C

C

27-33

Percent

6,10

9,40

35.70

8.60

19.80

7.70

0.00

0.00

Number

26

18

367

16

229

12

0

0

33+

Percent

0.00

0.00

0.00

16.70

0.00

5.10

0.00

0.00

Number

C

C

0

31

0

8

0

0

Note: The Board of Elementary and Secondary Education has set specific limits on the maximum size ofclasses at various grade levels. The maximum enrollment is grades K-3 is 26 students and maximumenrollment in grades 4-12 is 33 students. These limits do not apply to activity classes such as physicaleducation, chorus, band, and other classes with maximum enrollment standards. Therefore, these classesare included only as separate line items.

24

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Schedule 9

Bossier Parish School BoardThe Iowa TestFor the Year Ended June 30,2004

Test of Basic Skills (ITBS)

Grade 3

Grade 5

Grade 6

Grade 7

Test of Educational Development (ITED)

Grade 9

Composite

2004

66

65

51

55

55

2003

65

63

50

56

55

2002

62

59

56

55

55

Scores are reported by National Percentile Rank. A student's National Percentile Rank shows thestudent's relative position or rank as compared to a large, representative sample of students in the samegrade from the entire nation. A student with a score of 72 indicates that the student scored the same orbetter than 72 percent of the students in the norm group.

27

ALLEN. GREEN & WILLIAMSON, LLP n.^™Margie Williamson. CPA

CERTIFIED PUBLIC ACCOUNTANTS

P. O. Box 6075 —

Monroe,LA 71211-6075 Nicole waita. CPA

2414 Ferrand Street Telephone: (318) 3BB-4422 Di e Fmchoft CPA

Monroe. LA 71201 Fax: (318)388-4664

TheCPA. „ Toll-free: {888)741-0205 En*a L. AUeo, CPANever Underestimate Ttie Valuer „ (Rrtired)

www.alengreencpa.com** r 1963 - 2090

Independent Auditors' ReportOn Applying Agreed-Upon Procedures

Members of the Bossier Parish School BoardBenton, Louisiana:

We have performed the procedures enumerated below, which were agreed to by the Bossier ParishSchool Board solely to assist the Bossier Parish School Board in evaluating the effectiveness of theSchool Board's compliance with Act 743 of 1995 concerning the Bossier Educational Excellence Fund(BEEF) (a permanent fund of the Bossier Parish School Board) for the year ended June 30, 2004.Management is responsible for the Bossier Parish School Board's compliance with those requirements.This agreed-upon procedures engagement was performed in accordance with attestation standardsestablished by the American Institute of Certified Public Accountants. The sufficiency of theseprocedures is solely the responsibility of the Bossier Parish School Board. Consequently, we make norepresentation regarding the sufficiency of the procedures described below either for the purpose forwhich this report has been requested or for any other purpose.

Procedures:

1. Obtained the balances and a summary of the activity of the BEEF funds from the School Board asof and for the year ended June 30,2004 (Attachment I).

2. Judgmentally selected one riverboat from the BEEF general ledger and recalculated the amountsreceived during the fiscal year ended June 30, 2004, totaling $725,887 or 44% of total feescollected. The amounts were recalculated using information obtained from the LouisianaDepartment of Public Safety and Corrections Office of the State Police Riverboat GamingDivision. They were then compared to a validated deposit slip arid supporting letter received fromthe riverboats. LSA-R.S. 27:93 requires that:

a. An assessment in the amount of 4.5% of the monthly net gaming proceeds be remitted to theCity of Bossier City as an admission fee.

b. The Parish of Bossier receive 80% of the revenues collected within the Parish of Bossierother than Bossier City.

Members of the Bossier Parish School BoardPage 2

c. The Bossier Parish School Board receives 15% of the revenues collected by the Parish ofBossier to be solely for the use and purpose of the Bossier Education Excellence Fund.

Sample selected:

Hollywood:

Date

My, 2003August, 2003September, 2003

October, 2003November, 2003December, 2004

January, 2004February, 2004March, 2004

April, 2004May, 2004June, 2004

AmountDeposited

$ 62,091.9266,078.6855,148.58

56,943.4755,151.5856,803.57

64,346.7165,713.2764,286.11

59,858.4657,830.7361,634.29

S 725.887.37

3. Agreed the amount of interest removed from the BEEF general ledger and the School Board'sBEEF bank account to the amount deposited into the BEEF Operating Special Revenue Fundgeneral ledger and the School Board's sweep bank account in January 2004 from whichdisbursements are made. LSA-R.S. 17:408.1(A) requires that:

a. The BEEF was established.

b. The BEEF is a permanent trust fund.

c. The bank account for the BEEF is in the official repository of the Bossier Parish SchoolBoard.

d. The monies in the BEEF were held and invested on behalf of the Bossier Parish SchoolBoard,

e. The investment income from the BEEF accounts was withdrawn by the Bossier Parish


School Board only during January of the calendar year.

4. Compared the investments of the monies held in the BEEF bank account to the types ofinvestments allowed by the State of Louisiana. LSA-R.S. 17:408.16 requires that:

a. The monies in the BEEF were invested in the same manner as monies in the state generalfund.

b. The amount of earnings in the BEEF was kept account of separately from the fund principal.

5. Obtained a list of the activity of the BEEF funds at each individual school. From this, wejudgmentally selected 5 expenditures totaling $11,640 or 44% of total BEEF disbursements, andagreed the expenditure amount to the invoice and its classification on the schedule, considering thatBEEF earnings are to be expended solely for the purposes of instructional enhancement as definedbelow:

Enhancement may include:

• Provision for materials and supplies, including computers and other technological upgrades;

• Training for students, faculty, and administrators on the use of materials;

• Professional development of teachers;

• Establishment of exemplary programs of instruction.

Enhancement may not include:

• Costs of additional administrators;

• Increases in salaries or benefits for employees, or maintenance or custodial costs.

6. Recalculated the amount of interest being removed from the BEEF as recorded in the BEEFgeneral ledger.

7. Compared approval of expenditures tested in step 5 to the School Board's required policy.

Findings:

1. No exceptions noted.








We were not engaged to, and did not conduct an examination, the objective of which would be theexpression of an opinion on the School Board's compliance with Act 743 of 1995 concerning theBossier Educational Excellence Fund (a permanent fund of the Bossier Parish School Board) for theyear ended June 30, 2004. Accordingly, we do not express such an opinion. Had we performedadditional procedures, other matters might have come to our attention that would have been reported toyou.

This report is intended solely for use of the specified users listed above and is not intended to be andshould not be used by anyone other than these specified parties. However, this report is a matter ofpublic record and its distribution is not limited.

/


Monroe, LouisianaJanuary 10,2005

Attachment I

Attachment I


Balance Sheets

June 30,2004

(Unaudited)

Assets

Cash held at Citizens National Bank

Investments

Accounts receivable

Total assets

BossierEducational

ExcellencePermanent

Fund

$ 162,918

12,136,059

120,182

$ 12.419.159

BossierEducational

ExcellenceSpecial

Revenue Fund

$ 240,556

0

13,210

$ 253.766

Liabilities and Fund Balance

Accounts payable

Fund balance — reserved for instructional enhancement

Total liabilities and fund balance

$ 0

12.419.159

S 12.419.159

10,385

243,381

253.766

(Continued)Attachment I


Statement of Revenues, Expenditures, and Changes in Fund BalanceBEEF Operating Special Revenue Fund

Year Ended June 30, 2004

(Unaudited)

Expenditures - current- instruction andSupport services - instruction $ 26,466

Operating transfers in 130,104

Excess of revenues and operating transfers over expenditures 103,638

Fund balance, beginning of year 139.743

Fund balance, end of year $ 243.381

(Continued)Attachment I


Statement of Revenues, Expenditures, and Changes in Fund BalanceBEEF Educational Excellence - Permanent Fund

Year Ended June 30,2004

(Unaudited)

Revenues:Fees:

City of Bossier CityLouisiana DownsHollywoodIsle of Capri

Interest earnings

Total operating revenues

Expenditures

Excess of revenues over expenditures

Operating transfers to other funds

Net change in fund balance

Fund balance, beginning of year

Fund balance, end of year

735,20359,214

725,887130,588131,779

1,782,671

Q

1,782,671

130.104

1,652,567

10,766,592

$ 12.419.159

See accompanying independent accountants' report on applying agreed-upon procedures.

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