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Newspaper Archive of
Bath County News - Outlook
Owingsville, Kentucky
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March 20, 2014     Bath County News - Outlook
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March 20, 2014
 

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18- March 20, 2014 Your Hometown Newspaper News Outlook Independent Auditor's Report Report on Financial Statement We have audited the accompanying Statement of Receipts, Disbursements, and Changes in Cash and Cash Equivalents Balances - Regulatory Basis of Menifee County, Kentucky, for the year ended June 30, 2013, and the related notes to the financial statement. Managements ~albility for the Financial Statement Management is responsible for the preparation and fair presentation of this financial statement in accordance with accounting practices prescribed or permitted by the Department for Local Government to demonstrate compliance withthe Commonwealth of Kentucky's regulatory basis of accounting and budget laws. Managemem is also responsible for the design, implementation, and~mainfenance of internal control relevant to the preparation and fair presentation of a financial statement that is free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on this financial statement based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States and the Audit Guide fi)r Fiscal Court Audits issued by the Auditor of Public Accounts, Commonwealth of Kentucky. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free from material misstatement. An audit invoh, es performing procedures to obtain audit evidence about the amounts and disclosures in the financial statement. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of L ...... the financial statement, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity's preparation and fair presentation of the financial statement in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of signiticant accounting estimates made by management, as well as evaluating the overall presenta- tion of the financial statement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles As described more fully in Note 1, the financial statement is prepared by Menifee County, Kentucky on the basis oftbe acco}mt- ing practices prescribed or permitted by the Department of Local Government to demonstrate compliance with the Com- monwealth of Kentucky regulatory basis of accounting and budget laws, which is a basisof accounting other than accounting principles geuerally accepted in the United States of America. The effects on the financial statement of the variences between the regulatory basis of accounting described in Note I and ac- counting principles generally accepted in the United States of America, although not reasonably determinable, are presumed tO be material. Adverse Opinion on U.S. Generally Accepted Accounting Principles In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on the U.S. Generally Accepted Accounting Principles paragraph, the financial statement referred to above does not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position or cash flows therof for the year then ended. Opinion on Regulatory Basis of Accounting In our opinion, the financial statement referred to above presents fairly, in all material respects, the cash and cash equivalents of Manifee County, Kentucky as of June 30, 2013. and its cash receipts and disbursements, for the year then ended, in accordance with the financial reporting provisions prescribed or permitted by the Department for Local Government described in Note 1. Emphasis of Matters As dicussed in Note 1 to the financial statement, in fiscal year 2013, the Menifee County guidance on a regulatory basis. Our opinion is not modified with respect to this matter. Fiscal Court adopted new accounting Other Matters Our audit was conducted for the purpose of forming an opinion on the financial statement taken as a whole of Menifee County, Kentucky. The budgetary comparison schedules and capital asset schedule are presented for purposes of additional analysis and are not a required part of the financial statement. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statement. The budgetary comparison schedules have been subjected to the auditing procedures applied in the audit of the financial statement and certain additional procedures, including comparing and reconciling such information directly.to the underlying accounting and other records used to prepare the financial statement or to the financial statement itself, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the budegetary comparison sched- ules are fairly stated in all material respects in relation to the basic financial statement. The capital asset schedule has not been "subjected to the auditing procedures applied in the audit of the basic financial statement and, accordi~.y, we do not express an opinion or provide any assurance on it. Other Reporting Required by Government Auditing Standards In accordance with Goverenment Auditing Standards, we have also issued our report dated |anuary 8, 2014 on our consideration of Manifee County, Kentucky's internal Control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government AuditingStandards and should be considered in assessing the results of our audit. Based on the results of our audit, we present the accompan~nng comments and recommendations included herein, which dis- cusses the following report comments: 2013-1 The Fiscal Court Lacks Adequate Internal Control Over Occupational Taxes The Menifee County Fiscal Court Lacks Adequate Internal Controls Over Revenues 2013-3 All Payments Made From The County Treasury Shall Be Co-Sigued By "lhe County Treasurer And Judge Executive 2013-4 The Fiscal Court Lacks Adequate Controls Over Payroll 2013-5 The County. Does Not Have Proper Controls Over The Budgeting Process 2013-6 The Treasurer Should Prepare An Accurate Liabilities Schedule Morgan-Franklin, LLC West Liberty, KentuckT January 8. 2014 Meaifee County Budgetary Comparison Schedules Supplementary Information - Regulatrory Basis For the Year Ended June 30, 2013 General Fmad Budgeted Amounts Actual Amounts, (Budgetary Original Final Basis) Receipts Taxes $1,016,500 $1,119,705 $1,076,743 in Lieu Tax Payments $15.000 $34.619 $34,619 Excess Fees $15.000 $31,831 $31,831 Intergovernmental Revenue $85,645 $92,167 $117,592 Miscellaneous $24.000 $13 l,202 $105,687 -Interest $300 $~00 5230 Total Revenues $1,156,445 $1,409,824 $1.366,702 VarianCe with Final Budget Positive (Negativel $(42,962) $0 $0 $25,425 $(25,515) ${701 $(43,122) Disbursements General Government $380,044 Protection to Persons and Property $11,250 General Health and Sanitation $241,712 Social Services $9,000 Debt Service 55%525 Administration $314.814 Total Expenditures 51,014,345 $470,918 $424,764 $13,462$117,577 $327,982 "5305,764 $9,000 $7,938 $57,525$104,160 $425.506 $399.562 $1~04.393 $1.359.765 $46,154 $(!04,115) $22,218 $1,062 $(46,635) $25.944 $(55.3721 Excess (Deficiency) of Receipts Over Disbursements Before Other Adjustments to Cash (Uses) Other Adjustments to Cash (Uses) Debt Proceeds Transfers From Other Funds Transfers to Other Funds Total Other Adjustments to Cash (Uses) 5142,100 $180,O00 $(322,100) $(142,100) $105,431$6.937 $105,200 $180,0O0 $237289 $(281,332l $(311,500l $(101,332) $30,989 $(98A94) $105,200 $57,289 $(30.168) $132,321 Net Change in Cash and Cash Equivalents Cash and Cash Equivalents Balances- Beginning (Restated) $4,099 $37,926 $96A63 $33.827 $96,463 Cash and Cash Equivalents Balances- Ending $0 $4,099 5134,389 $130,290 General Fund Budgeted Amounts Original Final Receipts In Lieu Tax Payments $150,000 Intergovernmental Reverlue $1,206,000 Charges for Services Miscellaneous $2,500 Interest $800 Total Revenues $1,359,300 Actual Amounts, (Budgetary Basis) $150,000 $155,980 $1,698,892 $1,492,835 $8,300 $8,3O0 $2,500 $225 $800 5643 $1~60,492 $1~57,983 Vadancewith Final Budget Positive (Negative1 $5,980 ${206,057) $0 $(2,275) $(157) ${202,509) Disbursements General Government $100.000 General Health and Sanitation $14,000 $596.800 Debt Service $16.775 Administration $451,7~5 Total Expenditures $1,17~,300 Excess (Deficiency) of Receipts Over Disbursements Before Other Adjustments to Cash rUses) $180,000 $IO0,0O0$100,O00 $14,000 $8,106 $940,025 5974,193 $16,775 $16,775 $568.924 $208.154 $L639.724 $1,307`228 $220,768 $350,755 $0 $5,894 $(34,168) $0 $360.770 $332.496 $129,987 Other Adjustments to Cash (Uses) Debt Proceeds Transfers From Other Funds Transfers to Other Funds $f 180.0O01 Total Other Adjustments to Cash (Uses) $(180,000) $~220,768l $(220,768) $76,520 $52,257 $f239.4041 $(110,627) 576.520 $52,257 $(18.636) $110,141 Net Change in Cash and Cash Equivalents Cash and Cash EquivalentsBalanCes- Beginnin8 (Restated) $240,128 $345,753 $240.128 $345.753 Cash andCash Equivalents Balances- Ending $0 $0 $585.881 $585,881 Published in the Menifee County News-Outlook 03.20.14 Photo by Melissa Vincent gra il Front row, from left: Cameron Vincent, Hunter Vance, Justin Carpen- ter, and Chase Hart Back tow: Stone Barrett, Tyler Brown, and David Chandler The Bath County ~-~- ~ N Autism Awareness Committee would like to invite you to our First Annual Walk for Autism Thursday, April 17th at 6:00 "Ihe walk will begin at the Bath Count)- Middde School parking lot and will go to the Bath County Courthouse and end back at the middle school. "(here will be a balloon release at the conclusion of the walk. After the walk (in the middle school gym) Snacks: Popcorn and Sno-Cones For Parents: Numerous informational booths including occupational therapist, speech therapist, physical therapist, community resourses and parent/family resource. For Children: Activity Centers ~Wiarealsosellingshirtsthatwillbewornalthewalk. lf),ouareintere, stedin ~ I purchasing a t-shirt you can place }'our order by calling 606-336-0543 by April 3'a. ~. I you can join us to help show your support for these ~ -. . . . ., > ..... ~;:~. , ~,:~% .... for Bath County PVA One of my goals as Bath County PVA is to provide you with excellent customer service. My staff and I believe in providing courteous, quick and professional customer service to each taxpayer while keeping a welcoming, friendly atmosphere. 'Ihe ladies in the office have served Bath County for many and they are experienced, knowledgeable and fair. .am Jack)" Smith Watson, current Bath County PVA. I live in Bethel, with my husband, Wayne and son, Aaron. I was appointed Bath CountT PVA in November 2013 to finish the term of Kathy Tapp who retired in May 20t3. I have completed several training courses pro- vided through the State Valuation Department for PVA's since being appointed. I have 29 years of experience in banking where I became familiar with many of the duties of the PVA ..... Sharon Tussey was hired by Paul Goodpaster in October 2004 and has over 20 years experience m the PVA office beginning in Floyd County where she was a Senior Mapping Specialist for 15 years. Sharon became Chief Deputy under Kathy Tapp and had worked in the Montgomery County PVA office before moving to Bath County She and her husband, Bill, live in the Olympia area. Sharon handles the fimekeeping and bookkeeping duties of the office and special projects such as the sketching plan where she is entering sketches of all buildings into the software... She has earned her SKA pnd CKA designations. Rosemary Thomas became a deputy in December 2007 tinder Kathy Tapp. Rosemary lives in Sharpsburg and she has two sons. Rosie specializes in the ARC map program nd keeps the map maintenance up to date. She also specializes in the MOTAX or motor vehicle program. Rosie is working on her CKA designation. She has completed several GIS training classes to assist her with mapping, Linda Copher became a deputy in January 2008 also under Kathy Tapp. Linda and her husband, Doug, live on old 60 betweenPeasticks and Hart Pike. Linda spec'ialkzes in deed transfers, sales and purchases, Master Commissioner Sales and maintains the Homestead Exemptions. Linda has completed several GIS training courses and helps with mapping. Sharon, Rosemary and Linda join me in asking for your vote in the May : Democratic Primary on May 20, 2014.: Your vote will be greatly appreciated Thank you - lacky Smith Watson The PVA o ice is open the first Saturday of every month! Paid for by candidate a