st. tammany public trust finance authorityapp1.lla.state.la.us/publicreports.nsf/61850e07...the st....

ST. TAMMANY PUBLIC TRUSTFINANCING AUTHORITY

Financial Statements andIndependent Auditor's Report

August 31,2006

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-^~ 7-0 7

Contents

Independent Auditors1 Report 1 - 2

Required Supplemental Information

Management's Discussion and Analysis 3-4

Basic Financial Statements

Statement of Net Assets 5

Statement of Activities 6

Statement of Cash Flows 7

Notes to Financial Statements 8-13

Other Supplemental information

Schedule of Governing Board 15

Report on internal Control Over Financial Reporting and onCompliance and Other Matters Based on an Audit of FinancialStatements Performed in Accordance with GovernmentAuditing Standards 16

LAPORTESEHRTCERTIFIED PUBLIC ACCOUNTANTS

Independent Auditor's Report

To the Board of TrusteesSt. Tammany Public Trust Financing Authority

We have audited the accompanying financial statements of the business-type activities and eachfund of the St. Tammany Public Trust Financing Authority (the Authority) as of and for the yearended August 31, 2006, which collectively comprise the Authority's basic financial statements aslisted in the table of contents. These financial statements are the responsibility of the Authority'smanagement. Our responsibility is to express an opinion on these financial statements based onour audit.

We conducted our audit in accordance with auditing standards generally accepted in the UnitedStates of America and Government Auditing Standards, issued by the Comptroller Genera! of theUnited States. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of material misstatement. An auditincludes examining, on a test basis, evidence supporting the amounts and disclosures in thefinancial statements. An audit also includes assessing the accounting principles used andsignificant estimates made by management, as well as evaluating the overall financial statementpresentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the accompanying financial statements referred to above present fairly, in all materialrespects, the financial position of the business-type activities and each major fund of the St.Tammany Public Trust Financing Authority at August 31, 2006, and the respective changes infinancial position and cash flows for the year then ended in conformity with accounting principlesgenerally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued a report datedFebruary 2, 2007, on our consideration of the St. Tammany Public Trust Financing Authority'sinternal control over financial reporting and on our tests of its compliance with certain provisions oflaws, regulations, contracts, grant agreements, and other matters. The purpose of that report is todescribe the scope of our testing of internal control over financial reporting and compliance and theresults of that testing and not to provide an opinion on the internal control over financial reporting oron compliance. That report is an integral part of an audit performed in accordance with GovernmentAuditing Standards and should be read in conjunction with this report in considering the results ofour audit.

The Management's Discussion and Analysis on pages 3 and 4 is not a required part of the basicfinancial statements, but is supplementary information required by the accounting principlesgenerally accepted in the United States of America. We have applied certain limited proceduresthat consisted principally of inquiries of management regarding the methods of measurement andpresentation of the supplementary information. However, we did not audit the information and weexpress no opinion on it.

110 VETERANS MEMORIAL BOULEVARD, SUITE 200, METAIRIE, LA 70005-4958 • 504.835.5522 • FAX 504.835.55355100 VILLAGE WALK, SUITE 202, COVINGTON, LA 70433-4012 • 985.892.5850 • FAX 985.892.5956

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Our audit was conducted for the purpose of forming an opinion on the financial statements thatcollectively comprise the St. Tammany Public Trust Financing Authority's basic financial statements.The accompanying Schedule of Governing Board is presented for purposes of additional analysisand is not a required part of the basic financial statements. Such information has been subjected tothe auditing procedures applied in the audit of the basic financial statements and, in our opinion, isfairly stated, in all materials respects, in relation to the basic financial statements taken as a whole.

A Professional Accounting Corporation

February 2, 2007

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYManagement's Discussion and AnalysisAugust 31,2006

This section of the annual financial report provides important background information andmanagement's analysis of St. Tammany Public Trust Financing Authority's (the Authority) financialperformance during the fiscal year that ended on August 31, 2006. Please read this section inconjunction with the basic financial statements and the notes to the basic financial statementsbeginning on page 5 in this report.

The Management's Discussion and Analysis is an element of the new reporting model adopted bythe Government Accounting Standards Board (GASB) in their Statement No. 34 issued in June1999.

Financial Highlights

• The Authority's assets exceeded its liabilities at the close of fiscal year 2006, by $381,323,which represents a 9.8% increase from last fiscal year. The entire amount may be used tomeet the Authority's ongoing obligation to its users.

• The Authority's revenue increased 12% and the change in net assets for the year was$34,183.

Overview of the Financial Statements

These financial statements consist of two sections - Management's Discussion and Analysis (thissection) and the basic financial statements (including the notes to the financial statements).

Basic Financial Statements

The basic financial statements present information for the Authority as a whole, in a format designedto make the statements easier forthe reader to understand. The statements in this section includethe Statement of Net Assets, the Statement of Revenues and Expenses and Change in Net Assets,and the Statement of Cash Fiows.

The Statement of Net Assets presents the current and long-term portions of assets and liabilitiesseparately. The difference between total assets and total liabilities is net assets and may provide auseful indicator of whether the financial positions of the Authority is improving or deteriorating.

The Statement of Revenues, Expenses and Change in Net Assets presents information showinghow the Authority's assets changed as a result of current year operations. Regardless of when cashis affected, all changes in net assets are reported when the underlying transactions occur. As aresult, there are transactions included that will not affect cash until future fiscal periods.

The Statement of Cash Flows presents information showing how the District's cash changed as aresult of current year operations. The cash flow statement is prepared using the direct method andincludes the reconciliation of operation income (loss) to net cash provided by (used in) operatingactivities (indirect method) as required by GASB 34.

ST TAMMANY PUBLIC TRUST FINANCING AUTHORITYManagement's Discussion and AnalysisAugust 31, 2006

Financial Analysis of the Entity

2006 2005

Total Assets $ 7,000,684 $6,497,075Total Liabilities 6.619.361 6.149,935

Net Assets - Unrestricted $ 381.323 $ 347.140

Restricted net assets represent those assets that are not available for spending as a result of bondagreements. Conversely, unrestricted net assets are those that do not have any limitations forwhich those amounts may be used.

2006 2005

Operating Revenues $ 537,890 $ 479,668Operating Expenses 503,707 450.212

Net Increase in Net Assets $ 34.183 S 29.456

Contacting the Authority's Management

This financial report is designed to provide our citizens and creditors with a general overview of theAuthority's finances and to show the Authority's accountability for the money it receives. If you havequestions about this report or need additional financial information, contact Lloyd R. Walters,General Counsel, St. Tammany Public Trust Financing Authority.

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYStatement of Net AssetsAugust 31,2006

1990A 1991CProgram Program Unrestricted Total

Assets

Cash and Cash Equivalents $12,672 $ 634,100 $ 170,288 $ 817,060U.S. Government Securities - At Amortized Cost - 6,102,327 - 6,102,327Accrued Interest Receivable - 2,570 - 2,570Deferred Financing Costs - Net of Amortization - 78,727 - 78,727

Total Assets 12,672 6,817.724 170,288 7.000,684

Liabilities and Net Assets

Bonds Payable - Net of Discounts - 6,619,361 : 6.619.361

Net Assets-Unrestricted $12,672 $ 198,363 $ 170,288 $ 381,323

The accompanying notes are an integral part of these financial statements.

5

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYStatement of ActivitiesFor the Year Ended August 31, 2006


RevenuesInterest on Investments

Total Revenues

ExpensesAmortization of Deferred Financing CostsAmortization of Discounts on Bonds PayableOperating Expenses

Total Expenses

Change in Net Assets BeforeTransfers

Transfers

Change in Net Assets

Net Assets, Beginning of Year

Net Assets, End of Year

$ 472

472

62

62

410

410

12,262

$12r672

$530,806

530,806

7,073469,426

3,217

479,716

51,090

(1,500)

49,590

148,773

$198,363

$ 6,612

6,612

23,929

23,929

(17,317)

1.500

(15,817)

186,105

$170,288

$ 537,890

537,890

7,073469,426

27,208

503,707

34,183

34,183

347,140

$ 381,323


6

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYStatement of Cash FlowsFor the Year Ended August 31, 2006


Cash Flows from OperatingActivities

Interest Income ReceiptsAdministrative Expenses Paid

Net Cash Provided byOperating Activities

Cash Fiows from Non-CapitalFinancing Activities

Transfers

Net Increase (Decrease) in Cashand Cash Equivalents

Cash and Cash Equivalents,Beginning of Year

Cash and Cash Equivalents,End of Year

$ 472 $ 23,740 $ 6,612 $ 30,824(62) (3.217) (23,929) (27.208)

410 20,523 (17,317)

(1.500) 1,500

410 19,023 (15,817)

3,616

3,616

12,262 615,077 186,105 813.444

$ 12.672 $634.100 $ 170,288 $817,060

Reconciliation of Change in NetAssets to Net Cash Provided byOperating Activities

Change in Net AssetsAmortization of Bond DiscountsAmortization of Deferred Financing CostsAccretion in U.S. Government SecuritiesIncrease in Interest Receivable

Net Cash Provided by OperatingActivities

410 $ 51,090469,426

7,073(506,024)

(1.042)

$ (17,317) $ 34,183469,426

7,073(506,024)

(1.042)

410 $ 20,523 $ (17.317) $ 3.616


7

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYNotes to Financial StatementsAugust 31, 2006

Note 1. Summary of Significant Accounting Policies

The accounting and reporting policies of the St. Tammany Public Trust Financing Authority(the Authority) conform to accounting principles generally accepted in the United States ofAmerica, as applicable to governments. The following is a summary of certain significantaccounting policies:

History of the AuthorityThe St. Tammany Public Trust Financing Authority was created through a Trust Indenturedated March 6, 1979, pursuant to provisions of Chapter 2-A of the Louisiana RevisedStatutes of 1950, as amended. The initial legislation and subsequent amendments grantedthe Authority the power to obtain funds and to use the proceeds to promote the financingand development of any essential program conducted in the public interest within theboundaries of St. Tammany Parish, Louisiana.

The Authority's operations consist of the following programs. Two programs are singlefamily mortgage revenue bond programs whereby the Authority promotes residential homeownership through the acquisition of mortgage loans secured by first mortgage liens onsingle family residential housing. The funds for these programs were obtained through theissuance of $50,000,000 of 1979 Single Family Mortgage Revenue Bonds, datedJuly 1,1979, (the 1979 Program) and $37,500,000 of 1980 Single Family MortgageRevenue Bonds, dated December 1, 1980 (the 1980 Program). In addition, the Authorityhad a cohateraiized loans-to-lenders program whereby the Authority provided funds toparticipating savings and loan associations for the purpose of making loans to developersfor the acquisition, construction and ownership of multifamily rental properties. The funds forthis program were obtained through the issuance of $20,915,000 of 1982 CollateralizedLoans-to-Lenders Housing Revenue Bonds, dated May 1,1982 (the 1982 Program).

On March 8, 1990, the Authority issued $26,470,000 in Taxable Refunding Bonds Series1990A, dated March 1,1990 (the 1990A Program) and on April 17,1990, issued $3,340,000Tax-Exempt Convertible Capital Appreciation Refunding Bonds Series 1990B, datedApril 1,1990 (the 1990B Program) for the purpose of providing for the repayment of theoutstanding bonds of the 1979 Program. The Authority entered into an Escrow DepositAgreement with a local bank pursuant to which there have been deposited sufficient fundsand Government Obligations (as defined in the 1979 Indenture) to provide for repayment ofthe 1979 bonds pursuant to the 1979 Indenture. Simultaneously, the mortgage loansreceivable and certain funds of the 1979 Program were transferred to the 1990A Programand to the Authority's Unrestricted Fund. During the year ended August 31, 2003, theAuthority retired all remaining 1990S bonds payable. During the year ended August 31,2004, the Authority retired all remaining 1990A bonds payable.

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYNotes to Financial StatementsAugust 31,2006

Note 1. Summary of Significant Accounting Policies (Continued)

History of the Authority (Continued)On April 25, 1991, the Authority issued $3,780,000 Single Family Mortgage RevenueRefunding Bonds Series 1991A, dated April 1, 1991 (the 1991A Program) $2,095,000Taxable Refunding Bonds Series 1991B, dated April 1, 1991 (the 1991B Program) and$11,850,000 Tax-Exempt Capital Appreciation Refunding Bonds Series 1991C, datedMay 1,1991 (the 1991C Program). The Series 1991A bonds had an interest rate of 7.00%and mature on June 1, 2002. The Series 1991B bonds had an interest rate of 8.25%. TheSeries 1991C bonds bear no interest and mature on July 20,2014. The proceeds from theissuance of these bonds were used to pay bond issuance costs of the program and, alongwith funds from the 1980 Program, were used to retire the 1980 Program's outstandingBonds Payable, the 1980 Program's Mortgage Loans Receivable were transferred to the1991A and 1991B Programs as collateral for the respective Bonds Payable. The 1991CProgram's Bonds Payable are secured by a second lien on the Mortgage Loans Receivableof the 1991B Program. During the year ended August 31,2000, the 1991B bonds were paidoff and the remaining assets and liabilities were transferred to the 1991C Program. Duringthe year ended August 31,2002, all remaining 1991A mortgage certificates receivable andbonds outstanding were retired. The balance of funds was paid to the cities of Covingtonand Slidell.

The bonds issued by the Authority are general obligations for the Authority and are not anobligation of the State of Louisiana, or any other political subdivision thereof. The Authority'sBoard of Trustees is empowered under the trust indentures and the bond programagreements to contract with outside parties to conduct the day-to-day operations of theprograms it initiates. Under each of the programs the Authority utilizes area financialinstitutions to originate and service the mortgage loans and notes acquired. In addition, abank has been designated as Trustee for each of the bond programs and has the fiduciaryresponsibility for the custody and investment of funds.

Method of AccountingOn September 1,2003, the Authority adopted the provisions of Statement No. 34 (Statement34) of the Governmental Accounting Standards Board, Basic Financial Statements - andManagement's Discussion and Analysis - for State and Local Governments. Statement 34established standards for external reporting for all state and local governmental entities,which includes a statement of net assets, a statement of activities and changes in net assetsand a statement of cash flows. It requires the classification of net assets into threecomponents - invested in capital assets, net of related debt; restricted; and unrestricted.These classifications are defined as follows:

Invested in capital assets, net of related debt - This component of net assets consists ofcapital assets, net of accumulated depreciation and reduced by the outstanding balances ofany bonds, mortgages, notes, or other borrowings that are attributable to the acquisition,construction, or improvement of those assets. If there are significant unspent related debtproceeds at year-end, the portion of the debt attributable to the unspent proceeds are notincluded in the calculation of invested in capital assets, net of related debt. Rather, thatportion of the debt is included in the same net assets component as the unspent proceeds.



Method of Accounting (Continued)Restricted- This component of net assets consists of constraints placed on net assets usedthrough external constraints imposed by creditors (such as through debt covenants),grantors, contributors, or laws or regulations of other governments or constraints imposed bylaw through constitutional provisions or enabling legislation.

Unrestricted - This component of net assets consists of net assets that do not meet thedefinition of "restricted" or "invested in capital assets, net of related debt".

The adoption of Statement No. 34 had no effect on the basic financial statements except forthe classification of net assets in accordance with the statement.

Basis of Accounting and ReportingThe Authority follows the accrual basis of accounting whereby revenues are recognizedwhen earned and expenses are recognized when the related liability is incurred. TheAuthority operates certain funds established by the Bond Trust Indentures. The funds,which are maintained by the Trustee, provide for the accounting for bonds issued, debtservice and bond redemption requirements, investments, and related revenues andexpenses. The individual funds within each bond program are aggregated in theaccompanying individual and combined financial statements. Because the 1979 Programwas in-substance defeased during the year ending August 31, 1990, it is no longerpresented with the individual and accompanying financiai statements. The Authority appliesall applicable FASB pronouncements passed on or before November 30, 1989, inaccounting and reporting for its proprietary fund operations unless those pronouncementsconflict with or contradict GASB pronouncements.

Cash and Cash EquivalentsUnder state law, the Authority may invest in United States bonds, treasury notes, orcertificates. These are classified as investments if their original maturities exceed 90 days;however, if the original maturities are 90 days or less, they are classified as cashequivalents. Investments are stated at cost.

For purposes of the statement of cash flows, the Authority considers all highly liquidinvestments with a maturity of three months or less when purchased to be cash equivalents.

AmortizationBond issuance costs, including underwriters' discount on bonds sold, are being amortizedsystematically over the lives of the bonds, based upon the principal amounts outstanding.

Deferred Financing CostsSuch costs related to bonds called in accordance with the early redemption provisions asdescribed in the Bond Trust Indentures are charged to expense in the year that such bondsare called.

10



DiscountsDiscounts resulting from the purchase of U. S. Government securities and the sale of bondsare amortized over the lives of the securities under the effective interest method.

EstimatesThe preparation of financial statements in conformity with accounting principles generallyaccepted in the United States of America, requires management to make estimates andassumptions that affect certain reported amounts and disclosures. Accordingly, actualresults could differ from those estimates.

Note 2. Cash and Investments

The Authority's programs maintain deposits at the Trustee bank. The balance of thesedeposits at August 31, 2006, was $817,060. The Authority's cash equivalents representinterests in money market mutual funds. The Authority's investment is a Federal NationalMortgage Association Zero Coupon bond which matures on July 5, 2014, The Authoritydoes not have a formal investment policy that limits investment maturities as a means ofmanaging its exposure to fair value losses arising from increasing interest rates.

The Authority's cash equivalents and investments at August 31,2006, are categorized belowto give an indication of the level of risk assumed by the entity at year end. Category 1includes investments that are insured or registered or for which the securities are held by theAuthority or its agent in the Authority's name. Category 2 includes uninsured andunregistered investments for which the securities are held by the broker's or dealer's trustdepartment or agent in the Authority's name. Category 3 includes uninsured andunregistered investments for which the securities are held by the broker or dealer, or by itstrust department or agent, but not in the Authority's name.

AmortizedCost

MarketValue Category

CombinedCash EquivalentsU. S. Government Securities

1990A ProgramCash Equivalents

1991C ProgramCash EquivalentsU. S. Government Securities

UnrestrictedCash Equivalents

$ 817,060 $ 817,060 26.102.327 8.021.384 2

$ 6.919.387 $ 8.838.444

£ 12.672 S 12,672 2

$ 634,100 $ 634,100 26.102.327 8.021.384 2

$ 6.736.427 S 8.655.484

$ 170.288 £ 170.288 2

11


Note 2. Cash and Investments (Continued)

U. S. Government securities and guaranteed investment contracts are carried at amortizedcost because it is the Authority's intent to hold all such securities until maturity.

The Authority does not anticipate a requirement to sell any of the U. S. Government andFederal Agency Securities it holds, prior to maturity, because such securities are invested tomature as funds are required.

Note 3. Bonds Payable

Outstanding bonds payable are due on a term and serial basis and bear interest at rates asfollows at August 31, 2006:

1991C Program:Tax Exempt Capital Appreciation Refunding Bonds,

due July 20, 2014, zero stated rate, 7.38%effective yield $ 11,850,000

Less Related Discount (5.230.639)

Net Total $ 6.619.361

The bond principal and interest requirements of the 1991C Program Bonds Payable aresecured by the pledge of all assets of the 1991C Program and by a zero coupon U. S,Government Security with a face amount of $11,850,000, which matures on July 5, 2014.The 1991C Program bonds are structured such that the bonds accrete in value monthly untilthe value at maturity is $11,850,000. The bonds are scheduled to mature on July 20,2014,and are not subject to optional redemption prior to maturity.

It is not possible to project the bond principal payments for the 1991C Program Bonds forthe next five years due to the repayment structuring and the redemption procedures of theTrust indentures.

Note 4. Cooperative Endeavor Agreement

On September 14,1995, the Authority signed a Cooperative Endeavor Agreement with theLouisiana Housing Finance Agency (the Agency). The Agency and the Authority haveagreed to cooperate in the financing of single family mortgage loans through a poolfinancing by the Agency on behalf of the Authority and other local public trusts.

The Authority allowed the Agency to utilize the Authority's available 1995 bond allocation of$4,000,000 in exchange for the Agency's agreement to reserve the Authority's share of theAgency's 1995 Single Family Housing Bond Issue for a period of about ten months.

12

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYNotes to Financial StatementsAugust 31, 2006

Note 4. Cooperative Endeavor Agreement (Continued)

Based upon the December 1995 Issue, the Agency has reserved approximately $4,000,000for use in St. Tammany Parish. All transactions for this issue are accounted for on thebooks of the Agency. The Authority is not liable for any bonds issued by the Agency.

13

OTHER SUPPLEMENTAL INFORMATION

ST. TAMMANY PUBLIC TRUST FINANCING AUTHORITYSchedule of Governing BoardAugust 31, 2006 ^

Board of Trustees Compensation

Ben Morris $-0-P.O. Box 828Slidell, LA 70459(985) 646-4333

Marti Livaudais $-0-P.O. Box 828Slkiell, LA 70459

Candice Watkins $-0-609 N. Columbia StreetCovington, LA 70433(985)892-1811

Matthew Faust $-0-37 Spruce DriveCovington, LA 70433(895) 892-6584

Edward J. Price, Hi $-0-3101 E. Causeway ApproachMandeville, LA 70448(985)626-3133

15

lAPORTESEHRTROMIGfiAND

CERTIFIED PUBLIC ACCOUNTANTS

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTINGAND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF

FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITHGOVERNMENT AUDITING STANDARDS

To the Board of TrusteesSt. Tammany Public Trust Financing Authority

We have audited the financial statements of the St. Tammany Public Trust Financing Authority as ofand for the year ended August 31, 2006, and have issued our report thereon dated February 2,2007. We conducted our audit in accordance with auditing standards generally accepted in theUnited States of America and the standards applicable to financial audits contained in GovernmentAuditing Standards, issued by the Comptroller General of the United States.

Internal Control Over Financial ReportingIn planning and performing our audit, we considered the St. Tammany Public Trust FinancingAuthority's internal control over financial reporting in order to determine our auditing procedures forthe purpose of expressing our opinion on the financial statements and not to provide an opinion onthe internal control over financial reporting. Our consideration of the internal control over financialreporting would not necessarily disclose al! matters in the internal control that might be materialweaknesses. A material weakness is a reportable condition in which the design or operation of oneor more of the internal control components does not reduce to a relatively low level the risk thatmisstatements caused by error or fraud in amounts that would be material in relation to the financialstatements being audited may occur and not be detected within a timely period by employees in thenormal course of performing their assigned functions. We noted no matters involving the internalcontrol over financial reporting and its operation that we consider to be material weaknesses.

Compliance and Other MattersAs part of obtaining reasonable assurance about whether the St. Tammany Public Trust FinancingAuthority's financial statements are free of material misstatement, we performed tests of itscompliance with certain provisions of laws, regulations, contracts, and grant agreements,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 anobjective of our audit and, accordingly, we do not express such an opinion. The results of our testsdisclosed no instances of noncompliance or other matters that are required to be reported underGovernment Auditing Standards.

This report is intended solely for the information and use of the Board of Trustees and the LouisianaLegislative Auditor, and is not intended to be and should not be used by anyone other than thesespecified parties. Under Louisiana Revised Statute 24:513, this report is distributed by theLegislative Auditor as a public document.

A Professional Accounting Corporation

February 2, 2007

J10 VETERANS MEMORIAL BOULEVARD, SUTTB 200, METAIRIB, LA 70005-4958 • 504.835.5522 • FAX 504.g35.55355100 VIIXAGE WALK, SUITE 202, COVINGTON, LA 70433-4012 • 985.892.5850 - FAX 985.892.5956

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