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VERMILION PARISH SCHOOL BOARD Abbeville, Louisiana

Finajicia] Report

Year Ended June 30,2009

Under provisions of state law, this report is a public document. A copy of the report has been submitted to the entity and other appropriate public officials. The report is available for public inspection at the Baton Rouge office ofthe Legislative Auditor and, v 'here appropriate, at the office of the parish clerk of court.

Release Date

TABLE OF COmBSfTS

Independent Auditors' Report

Im 1-2

RJEQUIRED SUPPLEMENTARY INFORMATION ORSI) Management's Discussion and Analysis (unaudited) 4-15

BASIC FINANCLM STATEMENTS

GOVERNMENT-WIDE FINANCIAL STATEMENTS (GWFS) Statement of net assets Statement of activities

18 19

FUND FINANCIAL STATEMENTS (FFS) Balance sheet - govemmental funds Reconciliation of the govemmental fiinds balance sheet

to the statement of net assets Statement of revenues, expenditures, and changes in fimd balances-

governmental funds Reconciliation of the statement of revenues, expenditures, and

changes in fund balances of govemmental funds to the statement of activities Statement of net assets - proprietary fund Statement of revenues, expenses, and changes in fund net

assets - proprietary fimd Statement of cash flows - proprietary fund Statement of fiduciaiy net assets

Notes to basic financial statements

22

23

24-25

26

27

28

29

30

31-61

OTHER REQUIRED SUPPLEMENTARY IhfFORMATION Budgetary comparison schedules:

General Fund Special Federal Revenue Fund Schedule of Funding Progress

63 64 65

OTHER SUPPLEMENTARY INFORMATION

OTHER FINANCIAL INFORMATION Nonmajor Govemmental Funds -

Combining balance sheet Combining statement of revenues, expenditures, and changes in fund balances

69 70

(continued)

TABLE OF CONTENTS (continued)

Page

Nonmajor special revenue funds -Combining balance sheet 74-77

Combining statement of revenues, expenditures and changes in iund balances ^ yg.gl

Nonmajor debt service fund -Comparative balance sheet 83 Comparative statement of revenues, expenditures, and changes in fiind balance 84

Nonmajor capital projects fund -Comparative balance sheet 86 Comparative statement of revenues, expenditures, and changes in fund balance 87

Nonmajor pemianent fimd -Comparative balance sheet 89 Comparative statement of revenues, expenditures and changes in fund balance 90

Fiduciary fimds -Combining statement of assets and liabilities 92 Schedule of changes in deposits due others - school activity agency fund 93 Comparative schedule of cash receipts and disbursements - sales tax

agency fimd 94-95

INTERNAL CONTROL, COMPLIANCE AND OTHER MATTERS

Report on Intemal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Govemment Auditing Standards 97-98

Report on Compliance with Requirements Applicable to Each Major Program and Intemal Control over Compliance in Accordance with OMB Circular A-133 99-100

Schedule of expenditures of federal awards 101-102 Notes to schedule of expenditure of federal awards 103 Schedule of fmdings and questioned costs 104-105 Summary schedule of current and prior year audit fmdings and managemenfs

corrective action plan 106

(continued)

TABLE OF C0NT1ENTS (continued)

Page

SUPPLEMENTAL SCHEDULES OF PERFORMANCE MEASURES

Independent Accountants' Report on Applying Agreed-Upon Procedures 108-111 Schedule 1 - General Fund Instmctional and Support Expenditures

and Certain Local Revenue Sources 112 Schedule 2 - Education Levels of Public School Staff 113 Schedule 3 - Number and Type of Public Schools 114 Schedule 4 - Exp^ence of Public Principals and Full-time Classroom

Teachers 115 Schedule 5 - PubUc School Staff Data 116 Schedule 6 - Class Size Characteristics 117 Schedule 7 - Louisiana Educational Assessment Program (LEAP)

for the 21st Century 118-119 Schedule 8 - The Graduation Exit Exam for the 21st Century 120 Schedule 9 - The iLEAP tests ' 121-125

m

C. Burton Kddw. CPA' RuswB f. ChamposfW, CPA" VkaorR.StavM\CPA'

GwBM A ThbodMUX, Jr.,CPA* Robert S. Cartw, CPA* Arthur R-Mlxon, CPA'

KOLDER, CHAMPAGNE, SLAVEN & COMPANY, LLC CERTIRED PUBLIC ACCOUNTAMTS

OFFICES

Tynoi E MIxon, Jr., CPA Afioft J. LaBiy. CPA AEwt R. LegW. CPA,PF8.CSA' PanfiyAngafl* Scruagfrw. CPA ChrisOn* L Couiln. CPA Mary T. ThibodMux, CPA Marthal W. Gudry. CPA Alan M, Tayfor, CPA Jonws R. R^, CPA RobBTt J. MBU. CPA KeByM, Doucat, CPA Cherj L, Sarflay, CPA Mandy B. Self. CPA Paul L Dolc*mbf, Jr. CPA Wanda F. Areement, CPA. CVA Kristin 9. Daural, CPA Riohard R. Mhtaan St., CPA Cartayn C- Andaraon, CPA

Retired: Connrt 0 Chapman, CPA'2006 Harry J. CtosUo, CPA 2007

183 South BeadtoRd, LafayattB; LA 70506 Phone (337) 232-4141 Fax {337) 232-6680

t13EMtB(idgoSt BraaKBrtdee. LA 70517 Phon 037) 332-4020 Fax (337) 332-2867

1234 David Dr. Stt 203 Mofoan City, LA 70360 Phona (985) 384-3020 Fax (986) 384-3020

40S Watt Cotton Strsal Vilte Platte, LA 70586 Phono (337) 363-2702 Fax (337) 363-3049

332 WMl Sixth Awoua Obarin, LA 70655 Phona

The management's discussion and analysis and the other required supplementary information on pages 4 through 15 and pages 63 through 65, respectively, are not a required part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain bmited procedures, which consisted principally of inquires of management regarding the methods of measurement and presentation of the required suppl^nentary information. However, we did not audit the information and express no opinion on it.

Our audit was conducted for the purpose of fonning opinions on the financial statements that collectively comprise the School Board's basic financial statements. The other supplementary information on pages 69 through 95 is presented for purposes of additional analysis and is not a required part of the basic financial statements. The accompanying schedule of expenditures of federal awards (pages 101-102) is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133, "Audits of States, Local Govemments, and Non-Profit Organizations", and is also not a required part of the basic financial statements of ^ e Scbool Board. Such infoTmation, except for that portion marked ^'unaudited" on which we express no opinion, has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opmion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

Kolder, Champagne, Slaven & Company, LLC Certified Public Accountants

Abbeville, Louisiana November 19,2009

REQUIRED SUPPLEMENTARY INFORMATION (RSI)

VERMILION PARISH SCHOOL BOARD Management's Discussion and Analysis

Fiscal Year Ended June 30,2009

Management's Discussion and Analysis (MD&A) of the Vermilion Parish School Board's financial performance provides an overall review of the School Board's financial activities for the fiscal year ended June 30, 2009. The intent of this discussion and analysis is to look at the School Board's fmancial performance as a whole. The reader should read this discussion in conjunction vi th the financial statements and the notes to the basic financial statements, which are all included in this report, to enhance their understanding of the Vermilion Parish School Board's financial performance.

The MD&A is an element of Required Supplementary Infonnation specified in the Governmental Accounting Standards Board (GASB) Statement No. 34 (Statement). Certain comparative information between the cunent year (2008-09) and the prior year (2007-08) is required lo be presented in the MD&A.

FINANCIAL HIGHLIGHTS

It has been abnost four years since Hurricane Rita slammed into the Gulf Coast causing unprecedented damage to Vermilion Parish. The storm had a devastating impact on our community and in particular, the Vermilion Parish School System. The rebuildmg effort began immediately after tjie storm and continues today. As of the date of this report, most of the renovations to existing facilities have been completed, but the construction of a new elementary school is beginning as the 2009-2010 fiscal year gets underway.

In the fall of 2008^ Hurricane Dee caused flood damage once again to five of our schools. Unlike Hurricane Rita, however, the Board had adequate flood insurance coverage in place. These facilities were immediately cleaned and all students were back in school within ten days of the storm. This 2008-2009 fiscal year financial report has substantial activity related to this storm recovery.

No one could have imagined the degree of devastation that these storms could create. We arc pleased to report that as of the date of this report, the Board's financial condition is strong. However, the 2009-2010 fiscal year will bring financial challenges to the Board and management.

Construction has begun on a new elementary school in the northern part of the parish. This new school will be called 'XeBlanc Elementary School" and will have a capacity of 875 students. The facility is being financed primarily by FEMA reimbursenwnts for the replacement of an elemitary school in fhe southern part of the parish which was damaged by Hurricane Rita, and by a Community Development Block