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Bath County News - Outlook
Owingsville, Kentucky
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April 18, 2013     Bath County News - Outlook
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A copy of the complete audit report, including financial statements and supplemental information, is on file~ at the Judge Executive and Treasurer's office. This audit is available for public inspection during normal bns'mess hours. Any c~izen may obtain from the Judge Executive or Treasurer's office a copy of the complete audit report, including financial statements and supplememal information, for his or her personal use. Citizens requesting a personal copy of the audit report wiU be charged for duplication costs at twenty-five cents per page. Copies of the financial statement prepared in accordance with KRS 424.220 are available to the public at no cost at the business address of the officer respomible or preparation of the statement. Adam H. Edalen Auditor of Public Accounts To the People of Kentucky Honorable S~even L. Beshear, Governor Lori H. Fianery, Secretary Finance and Administration Cabinef Honorable James D. Trimble, Menifee County Judge/Executive Members of the Meoifee County Fiscal Court Independent Auditor's R epor~ We have audited the accompanying financial statemems of the government activities, each major fund, and the aggregate remaining fund informa- tion of Menifee County, Kenmck'y, as of and for the year ended June 30, 2011, which collectivdy comprise the County's basic financial statements, as listed in the table of contents. These financial statements are the respon- sibility of the Menifee County Fiscal Court. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards gener- ally accepted in the United States of America, the standards applicable to financial audits contained in Go~m- - lm by the Comptroller General of the United States, and the Atlg~g~l~[~t.~i~ Co~ Au~ 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 statements are flee of material misstatement. An au- dit includes examinin~ on a test basts, evidence supporting the amounts and disdosures in the financial statements. An audit also includes assess'rag the accounting principles used and signifi- cant estimates made by manageinent, as well as evaluating the overall finan- cial statement presentation. We believe that our audit provides a reasonable basis for our opinions. As described in Note 1, Menifen County, Kentuc~, prepares its finandal statements on a prescribed basis of accuunting that demonstrates compliance with the modified cash basis, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. In our opinion, the financial state- ments referred to above presem fairly, in oll material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Menifee County, Kentucky, as of June 30, 2011, and the t~pective changes in fmandal position and cash flows, where applicable, thereof for the year then ended in conformity with the basis of accounting described in Note 1. The county has implemented Governmental Accounting Standards Board Statement 54 as it relates to the modified cash basis of accounting as described in Note 1, which has altet~l the format and content of the basic financial statements. To the People of Kentuclo/ Honorable Steven L. Beshear, Governor Loft H. Flaner~ Secretary Finance and Administration C~'met Honorable James D. Trimble, Menifee County Judge/Executive Members of the Menifee County Fiscal Court Our audit was conducted for the purpose of forming opinions on the financial statements that collectivdy comprise Menifee County, Kentuck3,'s basis financial statements. The . combimng fund financial statements and budgetary comparison informa- tion are prasented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was dei'ived statements. The combining fund financial statements have been subjected to the auditing procedures applied in the audit of the basic finan- cial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other addi- tional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining fund financial statements are fairly stated in all material respects in relation to the basic financial statements as a whole. The budgetary comparison informa- tion have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on it. In accordance with fa.Q.V ~IlmCZlI~- we have also issued our report dated October 29, 2012 on our consideration of Menifee County, ' Kentucky's internal control over financial reporting and on our tests of its compliance with certain provi- sions of laws, regulations, contracts, and grants agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial report- ing and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report ls an Integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. Based on results of our audits, we pres- ent the accompanying comments and recommendations, induded herein, which discuss the following report comments: 2011-01 The County Transferred From Restricted Funds In Excess Of Allow- able Amounts 2011-02 The General Fund Had A Deficit Balance At Year End 2011-03 The County Had Significant Outstanding Invoices At Year End That Were Not Properly Reported 2011-04 The County Did Not Follow Proper Procedures For Expenditures 2011-05 The General Fund Owes "[he Road Fund $3,500 For Reimburse- ments Of OSHA Penalties 2011-06 The Prior Administration Exceeded Spending Limits In Seven Funds 2011-07 The County Did Not Pay Insurance Premiums Timely 2011-08 The County Did Not Prepare A Schedule Of Expenditures Of Federal Awards 2011-09 The County Did Not Main- tain Capital Asset Schedules In Accor- dance With GASB 34 Requirements 2011-10 The County Did Not Pay Off Notes Outstanding By Fiscal Year End 2011 - 11 The Former County Treasurer Did Not Prepare, Publish Or Present An Aunual Settlement 201 i - 12 The County Did Not Review The Administration Code Annually As Required 2011 - 13 The County Doe, s Not Have Adequate Controls Over Expendi- tures, Capital Assets, Debt, Inter-fond Transfers, And Federal Grants 2011-14 The County Does Not Have Proper Controls Over The Budgeting Process 2011 - 15 The County Did Not Include Three Funds On The Financial Staw ment 2011-16 The County Did Not Main. rain Proper Records For "lhe Public Properties Corporation To the People of Kemucky Honorable Steven L. Beshear, Governor Lori H. Flanery, Secretary Finance and Administration Cabinet Honorable James D. Trimble, Menif~ County Iudgn/Executive Members of the Menifee (.~,0unt)~ Fiscal Cout ' ~' 2011-17Payments ForInmateiHom :~ ing Were Not Properly Remitte~ 2011-18 The County Did Not Main- tain Adequate Documentation Related To Debt 2011 - 19 The County Did Not Main- tain Adequate Documentation For Credit Card Purchases 2011-20 Trsnsfers Between Funds Were Not Recorded ~operly 2011-21 The County Paid Late Fees On Debt Payments Respectfully Submitted, Adam H. Edelen Auditor of Public Accounts MENIFEE COUNTY BUDGETARY COMPARISON INFORMATION Other Information - Modified Cash Bash ROAD FUND REVENUES Taxes In Lieu Tax Payments Excess Fees Licenses and Permits Intergovernmental Revenue Miscellaneous Interest Total Revenues For the Year Ended June 30, 2011 GENERAL FUND Actual Variance Amounts Final Budg, Budaeted Amounts (Budgetary Positiye Orieinal Final $ 990,560$ 990,560 62,000 62,000 46,000 46,000 5,700 5,700 143,655 148,626 50,000 79,115 5OO 500 1,298,4151,332,501 Basis) (Ne~ative/ $ 942,985 $ (47,577) 15,447 (46,553) 28,452 (17,548) 2,308 ,~ (3,392) 16,6117 17,491 12,4753 45,618 228 (272) 1,280,268 (52,233) EXPENDITURES General Government Protection to Persons and Property General Health and Sanitation Social Services Recreation and Culture Debt Service Capital Projects Administration Total Expenditures 490,093 527,211 527,138 73 11,450 25,018 25,018 223,356 248,438 248,358 80 10,000 13,035 13,035 28,810 28,810 95,000 120,949 120,949 56,680 56,680 279,600 217,648 215,118 2,530 1,109,4991,237,789 1,235,1062,683 94,712 45,162 49,550 Excess (Deficiency) of Revenues Over Expenditures 188,916 Before Other Financing Sources (Uses) REVENUES In Lieu Tax Payments Intergovernmental Revenue Miscellaneous Interest Total Revenues EXPENDITURES General Health and Sanitation 15,000 Roads 1,070,057 Debt Service Administration 236,830 Total Expenditures 1,321,887 Excess (Deficiency) of Revenues Over Expenditures 36,703 Before Other Pinancing Sources (Uses) OTHER FINANCING SOURCES (USES) Short Term Borrowed Money Transfers from Other Funds Transfers to Other Funds (36,703) Total Other Financing Sources (Uses) (36,703) Net Changes in Fund Balance Fund Balance - Beginning '" $0 Actual Variance with Amounts Final Budget Budgeted Amounts(Budgetary Positive Original Final " Basis) fNe~ative) $191,000 $191,000$193,072 $ 2,072 1,165,290 1,350,892 1,289,404(61,488) 600 662 i0,205 9,543 1,700 1,700 854 (846) 1,358,590 1,544,254 1,493,535(50,719 6,837 6,837 655,917 655,914 418 417 530,379 260,885 1,193,551 924,053 350,703 569,482 3 1 269A94 269,498 218,779 300,000 30,343 (7,34,297) Fund Balance - Ending 300,000 30,343 (36,703)(771,000) (36,703)(440,657) 314,000 128,825 (98,107) $314,000 $30,718 (403,954) (185,175) (98,107) $ (283,282) OTHER FINANCING SOURCES (usEs) Short Term Borrowed Money ~:, 60,000 60,000 . ~-Eund* a,~, .~7-,47-8 .-- i ~7~478 853,710 806,9.~-,-.-~,~ Transfers to Other Funds ~"~ ; :" TM (188,916)(188,916) (896, 28),(707,812) ~ Total Other Financing Sources (Uses) (151,458)(151,438) 6,982 158,420 Net Changes in Fund Balance 37,478 (56,726) 52,144 108,870 Fund Balance - Beginning (Restated) (55,276) (55,276) i Fund Balance - Ending 37,478 (56,726)(3,132) 53,594 Reconciliation of the Budgetary Comparison Schedule to Statement of Revenues, Expenditures, and Changes in Fund Balances GENERAL FUND Revenues $1,280,268 Jail Fund Revenues 59,508 Parks Fund Revenues 18,052 Wellness Fund Revenues 26,635 Building Commission Fund Revenues 48,938 Revenues per Statement of Revenues, Expenditures, $1,433,398 and Changes in Fund Balances Expenditures $1,235,106 Due to Road Fund 3,500 Cost of Executing Borrowed Money 250 Jail Fund Expenditures 192,877 38,087 Parks Fund Expenditures State Gram Fund Expenditures 20 Wellness Fund Expenditures 42,449 Building Commission Fund Expenditures 51,817 Expenditures per Statement of Revenues, Expendi: ' $1;564,106 tures, and Changes in Fund Balances Other Financing Sources (Uses) $ 6,982 General Fund Short Term Borrowed Money Proceeds (60,000) Current Year General Fund Restricted Transfer (420,377) Payable Jail Fund Transfers In 196,179 Parks Fund Transfers In 30,487 State Grants Fund Transfers In 20 Wellness Fund Transfers In 15,629 Building Commission Fund Transfers In 6,070 State Grant Fund Transfers Out (30) Parks Fund Transfers Out (5,000) Other Financing Sources (Uses) per Statement of ~$ (230,040) Revenues, Expenditures, and Changes in Fund Bal- ances Fund Balance - Beginning (Restated) $ (55,276) Prior Year General Fund Restricted Transfer Payable (28,434) Jail Fund Balance (Restated) (61,859) Parks Fund Balance (4,918) State Grant Fund Balance . 30 Wellness Fund Balance 392 Building Commission Fund Balance (60) Beginning Balance Per Statement of Revenues, Ex- $ (150,125) penditures, and Changes in Fund Balances Fund Balance - Ending $ (3,132) General Fund Short Term Borrowed Money Payable (60,250) General Fund Restricted Transfer Payable (448,81 ! ) Due to Road Fund (3,500) Jail Fund Balance 951 Parks Fund Balance 534 Wellness Fund Balance 207 Building Commission Fund Balance 3,128 Ending Balance per Statement of Revenues, Expendi- $ (510,873) tures, and Changes in Fund Balances Reconciliation of the Budgetary Comparison Schedule to Statement of Revenues, Expenditures, and Changes in Fund Balances ROAD FUND $ 924,053 ~st of Executing Short Term Borrowed Mon~ 1,000 Due from General Fund" (3,500) Expenditures per Statement of Revenues, Expendi- $921,553 tures, and Changes in Fund Balances Other Financing Sources (Uses) $ (440,657) Road Fund Short Term Borrowed Money Proceeds (300,000) Current Year Imerfund Transfers Receivable 420,377 Other Financing Sources (Uses) per Statement of $ (320,280) Revenues, Expenditures, and Changes in Fund Bal- ances Fund Balance - Beginning $ (98,107) Prior Year Restricted Transfer Receivable 28,434 Fund Balance - Beginning per Statement of Revenues, $ (69,673) Expenditures, and Changes in Fund Balances Fund Balance - Ending $ 30,718 Road Fund Short Term Borrowed Money Payable (301,000) Due from General Fund 3,500 Restricted Transfer Receivable 448,811 Fund Balance - Ending per Statement of Revenues, 182,029 Expenditures, and Changes in Fund Balances AMBULANCE FUND REVENUES Ori~nal Intergovernmental Revenue,$10,045 $10,045 Charges for Services 704,700 704,700 Miscellaneous 1,400 15~343 Interest Total Revenues 716,1:t5 730,087 Actual Variance with Amounts Final Budget Budgeted Amounts (Budgetary Positive Final Bash) (~/~ative) $11,009 $ 964 489,334 (215,366) 13,942 (1,400) 47 47 514,332 (215,755) EXPENDITURES 498,125 Protection to Persons and Property Debt Service Administration 191,909 Total Expenditures 690,034 Excess (Deficiency) of Revenues Over Expenditures 26,111 Before Other Financing Sources (Uses) OTHER FINANCING SOURCES (USES) Transfers from Other Funds 78,589 Total Other Financing Sources (Uses) 78,589 Net Changes in Fund Balances 104,700 Fund Balances - Beginning (Restated) Fund Balances - Ending $104,700 685,265 626,208 59,057 59,005 (59,005) 208,711 208,698 13 893,976 893,911 65 (163,889) (379,579) (215,690) 78,589 406,500 327,911 78,589 406,500 327,911 (85,300) 26,921 112221 $ (85,300) $ 5,118 $ 90,418 Reconciliation of the Budgetary Comparison Schedule to Statement of Revenues, Expenditures, and Changes in Fund Balances Expenditures $ 893,911 Capital Ouday - Ambulance Proceeds 90,000 Expenditures per Statement of Revenues, Expendi- $ 983,911 tures, and Changes in.Fund Balances Other Financing Sources (Uses) $406,500 Financing Obligation Proceeds - Ambulance 90,000 Other Financing Sources (Uses) per Statement of $496,500 Revenues, Expenditures, and Changes in Fund Bal- ances Published in the Menifee County News-Outlook 04.18.13.