VILLAGE OF MCNARY GLENMORA. LOUISIANA

FINANCIAL REPORT

COMPILATION YEAR ENDED JUNE 30.2014

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 of the Legislative Auditor and. where appropriate, at the office of the parish clerk of court

FEB 0 4 2015

VILLAGE OF MCNARY GLENMORA, LOUISIANA

COMPILATION ANNUAL FINANCIAL REPORT WTIB SUPPLEMENTAL INFORMATION SCHEDULES

JUNE 30.2014

TABLE OF CONTENTS

FINANCIAL SECTION

Accountants' Compilation Report

BASIC FINANCIAL STATEMENTS

FUND FINANCIAL STATEMENTS

EXHIBIT A Balance Sheet - Governmental Fund - General Fund

EXHIBIT B Statement of Revenues, Expenditures and Changes in Fund Balance - Governmental Fund - GeiienU Fund

EXHIBIT C Statement of Net Position - Proprietary Funds

EXHIBIT D Statement of Revenues, Expenses and Changes in Fund Net Position - Proprietary Funds

EXHIBIT E Statement of Cash Flows - Proprietary , Funds

PAGE

OTHER SUPPLEMENTAL INFORMATION

SCHEDULE A

SCHEDULED

SCHEDULEC

SCHEDULED

SCHEDULE E

SCHEDULEF

SCHEDULE G

SCHEDULE H

CURRENT YEAR FINDINGS

PRIOR YEAR FINDINGS

General Fund - Statement of Revenues, Expenchtures and Changes in Fund Balance - Budget (GAAP) and Actual

Schedule of Compensation Paid to Elected Officials

Schedule of Utility Plant and Equipment - Enterprise Fund - Water

Schedule of Insurance in Force

General Fixed Assets

Proprietary Funds - Changes in Fund Net Position - Budget arid Actual

Schedule of Bonds Payable - Water Fund

Water Department Billing Rates and Other Statistics

3

4

5

6

7

8

9

10

11

12

13

14

15

16

GARRETT & GARRETT CERTIFIED PUBLIC. ACCOUNTANTS

119 PROFESSIONAL DRIVE WEST MONROE, LOUISIANA 71291

CAROLYN V. GARRETT PHONE: 318 322-0845 JUDY D. GARRETT FAX: 318 322-5577

December 8,2014

AGCOUNTANTS' COMPILATION REPORT

The Honorable Donald Parker II, Mayor and Members of the Board of Aldermen and Alderwomen Gleiunor^ Louisiana

We have compiled the accompanying financial statement and supplemental information schedules, as listed in the foregoing table of contents, of the Village of McNary, Gleiunora, Louisiana, as of and for the year ended June .30, 2014, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.

A compilation is limited to presenting in the formof financial statement information that is the representation of management. We have not audited or review^ the accompanying financial statement and,^ordingly, do not express an opinion or any other form of assurance on them.

Generally accept^ accounting standards require State and Local Govemihents to adopt and report under Governmental Accounting Standards Boa^ (GASB) Statement No. 34, "Basic Financial Statements-and Management's Discussion and Analysis - for State and Local Governments" and No. 37, "Basic Financial Statements - and Management's Discussion and Andysis - for State wd Local Governments: Omnibus." The Village is not presenting its fmancial statements under those standards. Those stmdards require that the Village report information regarding its financial position by governmental activities, business^type activities, each major fund, and the aggregate remaining fund information that comprise the Village's basic financial statements. The standards also require that a management's discussion and analysis be iiicluded as supplementary information. The effects of these departures have not been determined.

Management has elected to omit substantially all'of the disclosures required by generally, accepted accounting principles. If the omitted disclosures were included in the financial statement, they might influence the user's conclusions about the Village's financial position, results of operations, and cash flows. Accordingly, the financial statements are not designed for those who are not informed about such mattm. We have compiled the supplementary information from information that is the representation of management, without audit or review. Accordingly, we do not express an opinion or any other form of assurance on the siqiplementary information.

We are not independent with respect to the Village of McNary, Glenmora, Louisiana.

GARRETT & GARRETT CERTIFIED PUBLIC ACCOUNTANTS

BASIC FINANCIAL STATEMENTS

VILLAGE OF MCNARY GLENMORA. LOUISIANA

COMPILATION BALANCE SHEET

GOVERNMENTAL FUND - GENERAL FUND JUNE 30. 2014

EXHIBIT A

ASSETS 2014

Cash and'Cash Equivalents Investments Receivables Net

Due from Vendor Sales Tax Oil and Gas Occupational Franchise Garbage Receivable Sales and Use Taxes

Total Receivables Net Due From Other Funds

Enterprise Fund Due from Other Governments

Louisiana Beer Tax Distribution Prepaidltems

TOTAL ASSETS

$ 102,497.75 28,111.44

$ 1,377.00 139.93

2,201.64 276.80

3.433.56 $ 7,428.93

13,520.77

175.70 2.720.09

S 154.454.68

LIABILITIES AND.FUND BALANCE

Liabilities Accounts Payable Accrued Liabilities

Total Liabilities

$ 2,592.94 2.049.56

$ 4.642.50

Fund Balance Nonspendable - Prepaid Items Unassigned Total Fund Balance

S 2,720.09 147,092.09

$ 149.812.18

TOTAL LIABmmES AND FUND BALANCE $ 154.454.68

See accountants' compilation report.

-2-

VILLAGE QF MCNARY GLENMORA LOUISIANA

COMPILATION STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCE

GOVERNMENTAL FUND - GENERAL FUND FOR THE YEAR ENDED JUNE 30.2014

EXHIBIT B

2014 REVENUES Franchise taxes Sales Taxes Licenses and Pennits Intergovemment Sanitation Fees Fines Interest Income Miscellaneous Oil and Gas Royalties

Totd Revenues

EXPENDITURES General and Administrative Police Protection Fire Protection Sanitation Department Culture and Recreation

Total Expenditures

Excess of Revenues Over Expraditures

Net Change in Fund Balance

Fund Bailee - Beginning of Year

Fund Balance • End of Year

12,109.90 37,329.28 6,564.92

312.66 6,307.10

63,385.00 91.67

205.00 458.31

126.763.84

$ 36,640.24 64,526.07 4i200.00 7,286.75

478.01 $ 113;i31.07

$ 13,632.77

$ 13,632:77

136.179.41

149.812.18

See accountants' compilation report.

-3-

VILLAGE OF MCNARY GLENMORA, LOUISIANA

COMPILATION STATEMENT OF NET POSITION

PROPRIETARY FUNDS JUNE 30.2014

EXHIBIT C

ASSETS 2014

CURRENT ASSETS Cash and Cash Equivalents Accounts Receivable, Net Investments Prepaid Items

Total Current Assets

NON-CURRENT ASSETS Restricted Assets Cash and Cash Equivalents Investments

Total Restricted Assets

CAPITAL ASSETS Depreciable Capital Assets, at Cost Less: Accumulated Depreciation

Total Capit^ Assets

Total Non-Current Assets

TOTAL ASSETS

LIABILITIES AND NET POSITION

24,053.38 5,886.64

17,695.28 314.60

47.949.90

S 28,300.04 33.892.95

$ 62.192.99

$ 924,648.91 (369.384.891

$ 555.264.02:

$ 617.457.01

S 665.406.91

LIABILITIES Current Liabilities (Payable from Current Assets):

Accounts Payable Accrued Liabilities Due to General Fund Customer's Deposits .

Total Current Liabilities (Payable from Current Assets) Current Liabilities;(Payable from Restricted Assets):

Water Revenue Bonds Payable Total Current Liabilities (Payable from Restricted Assets)

I

Total Current Liabilities

1,739.34 1,030.25

13,520.77 11.025.00

$ 27.315.36

3.784.00 3.784.00

S 31.099.3(5

Long-Term Liabilities: Water Revenue Bonds

Total Long-Term Liabilities

TOTAL LIABILITIES

NETPOSITION Invested in Capital Assets Net of Related Debt Restricted for RevOTue Bond Retirement Unrestricted

Total Net Position

TOTAL LIABILITIES AND NET POSITION

$ 173.547.28 $ 173.547.28

$ 204.646.64

$ 377,932.74 30,911.84 51.915.69

$ 460.760.27

£ 665.406.91

See accountants' compilation report

-4-

VILLAGE OF MCNARY GLENMORA. LOUISIANA

COMPILATION STATEMENT OF REVENUES. EXPENSES. AND CHANGES IN FUND NET POSITION

PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30.2014

EXHIBIT D

BUSINESS-tYPE ACTIVITIES - ENTERPRISE FUND

OPERATING REVENUEiS Charges for Services Miscellaneous

Total Operating Revenues

OPERATING.EXPENSES Salaries and Employee Benefits Office Supplies Professional Fees Repairs and^Mainten^e Utilities and Telephone Depreciation and Amortization Water Chlorination Insurance

Total Operating Expenses

Net C^erating Income (Loss)

NONTOPERATING REVENUES (EXPENSES) Investment Interest Interest Expense

Total Non^erating Revenues (Expenses)

CHANGE IN NET POSITION

NET POSITION - BEGINNING OF THE YEAR

NET POSITION - END OF THE YEAR

2014

$ 64,151.21 300.00

S 64.451.21

$ 20,541.87 3.751.77 3,663.33 8.941.78 3,145.64

21,709.32 1,570.46 3.927.07

$ 67,251.24

$ (2.800.03)

$ 232.69 (8;517.22)

$ (8.284.53)

S (11,084.56)

47L844.83

S 460.760.27

See accountants' compilation report.

-5.

VILLAGE OF MGNARY GLENMORA. LOUISIANA

COMPILATION STATEMENT OF CASH FLOWS

PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30.2014 AND 2011

EXHIBITE

BUSINESS-TYPE ACTIVITIES > ENTERPRISE FUND - WATER

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from Ciistomers Payments to Suppliers Payments to Employees Other Receipts (Payments) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES Transfers from General Fund NET CASH PROVIDED (USED) BY NON-CAPITAL FINANCING ACTIVITIES

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIViTiES Principal Paid on Bonds Interest Paid on Bonds NET CASH PROVIDED (USED) BY CAPITAL AND RELATED FINANCING ACTIVITIES

CASH FLOWS FROM INVESTING ACTlVmES Interest Eamed.on Operating Funds NET CASH PROVIDED (USEDVBY INVESTING ACTIVITIES

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT JULY 1

CASH AND CASH EOUIVALENTS AT JUNE 30

RECONCILIATION OF CASH AND CASH EQUIVALENTS TO THE STATEMENT OF NET POSITION Cash Restricted Assets - Revenue Bonds NET CASH AND CASH EQUIVALENTS

RECONCILIATION OFUPERATING INCOME (LOSSVTO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Operating Income (Loss) Provided (Used) by Operating Activities:

Depreciation Changes in Assets and Liabilities

(Increase) Decrease in Accounts Receivable (Net) (Increase) Deceue in Prepaid Items Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Liabilities Increase (Decrease) in Customer Deposits

NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES

2014

$ 64,304.01 (25^600.60) (20,674.08)

800.00

S

18.829.33

200.00 200.00

$ (3,608.78) (8.517.22)

$ (12.126.00)

62.26 62.26

$ 6,965.59

45.387.83

% 52.353.42

$ 24,053.38 28.300.04

$ 52.353.42

$ (2i800.03)

21,709.32

(147.20) (41.47)

(559.08) (132.21) 800.00

$ 18.829.33

See accountants' compilation report:

-6-

OTHER SUPPLEMENTAL INFORMATION

VILLAGE QFMCNARY GLENMORA, LOUISIANA

COMPILATION GENERAL FUND

STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET (GAAPVAND ACTUAL FOR THE YEAR ENDED JUNE 30.2014

SCHEDULE A

REVENUE

VARIANCE FAVORABLE

ACTUAL (UNFAVORABLE) 118.000:00 $ 126.763:84 $ 8.763.84

ORIGINAL BUDGET

EXPENDITURES CurreDt

General and Administrative Police Protection Fire Protection Sanitation Department Culture Bhd Recreation

Total Expenditures

$ 37,800.00 $ 58,000.00 4,200.00 7,800.00 5.200.00

36,^0.24 S 64,526.07 4,200.00 7,286.75

478.01

1,159.76 (6,526.07)

.00 513.25

4.721.99 1 113.000.00 $ 113.131.07 i (131.07)

EXCESS OF REVENUE OVER (UNDER) EXPENDITURES 5,000.00 $ 13,632.77 $ ,8,632.77

EXCESS OF REVENUE AND OTHER SOURCES OVER (UNDER) EXPENDITURES AND OTHER (USES)

FUND BALANCE - BEGINNING OF YEAR

FUND BALANCE - END OF YEAR

5,000.00 S

136.179.41 .

13^632.77 S

136.179.41

mmk ^ »49.812.18 1

8,632.77

.00

S^ accountants' compilation report.

-7-

VILLAGE OF MCNARY SCHEDULE B GLENMORA, LOUISIANA

COMPILATION SCHEDULE OF COMPENSATION PAID TO ELECTED OFFICIALS

JUNE 30. 2014

Compensation paid to the Mayor and Board of Aldermen in the form of salaries for the year ended June 30,.2014 are as follows:

MAYOR Donald Parker II % 9,658.26

ALDERMEN & ALDERWOMEN Brian Goree 3,450.00

Barbara Billings 3,450.00

BillyBillings 3,450.00

Their terms expire December 31, 2014

See accountants' compilation report

-8-

VILLAGE OF MCNARY GLENMORA. LOUISIANA

COMPILATION SCHEDULE OF UTILITY PLANT & EQUIPMENT

ENTERPRISE FUND - WATER DEPARTMENT FOR THE FISCAL YEAR ENDED JUNE 30,2014

SCHEDULE C

2014 UNAUDITED

IMPROVEMENTS OTHER THAN BUILDING

ACQUIRED LIFE COST ACCUMULATED DEPRECIATION NET DEPRECIATION

Water Distribution System 05/01/01 50 s. 2,481.70 $ 670.01 S 1,811.69 $ 49.63 Water Meters 2001 10 3,338.10 3,338.10 .00 .60 Water System 1979 50 157,147.00 127,929.12 29,217.88 3,140.44 Water Lines 1993 25 4,236.38 3,643.39 592.99 169.46 Water Lines 2012 50 32.953:26 988.60 31,964:66 659.07 Booster Pump, Stations and Water Well 2000 50 394,522.01 114,259.82 280,262,19 7,890.44

Water Distribution and Eire Protection 2000 50 275,118:30 79,784.36 195.333.94 5i502.37

72" X 288" Pressure Tarik 2006 10 15,171.48 11,378.62 3,792.86 1,517.15 Total s 884.968.23 $ 341.992.02 $ 542.976.21 $ 18.928.56

STORAGE BUILDING 2001 20 $ 16.070.00 $ 10.847:25 $ 5,222.75 $ 803.50

SHED 2009 . 10 $ 1.249.03 S 562.05 $ 686.98 S 124.90

MACHINERY AND EQUIPMENT Equipment 10 $ 22.361.65 $ 15,983.57 S 6.378.08 $ 1,852 36

GRAND TOTAL -

$ 924.648.91 $ 369.384.89 $ 555:264.02 $ 21.709.32

See accountsts' compilation report.

-9-

VILLAGE OF MCNARY GLENMORA. LOUISIANA

eOMPILATION SCHEDULE OF INSURANCE IN FORCE

JUNE 30. 2014

SCHEDULED

INSURANCE COMPANY La. Municipal Risk Mgt.

La. Municipal Risk Mgt.

La. Municipal Risk Mgt.

La. Municipal Risk Mgt.

La. Municipal Risk Mgt.

Western Surety

GNA Surety

Essex/Audubon

EMC Insurance

POLICY 100-0370-15020

100-0370-15020

100-0370-15020

100-0370-15020

100-0370-15020

71413293

69126636

5TRD5733

2A9-95-23-15

DATE 03/29/14 03/29/15

03/29/14 03/29/15

03/29/14 03/29/15

03/29/14 03/29/15

03/29/14 03/29/15

05/08/14 05/08/15

02/10/14 02/10/15

03/29/14 03/29/15

10/28/14 10/28/15

COVERAGE TYPE General Liability Each Occurrence

Workmen's Compensation Each Accident Each Disease Disease Aggregate

Business Auto Policy Liability each accident

Professional Liability for Police/Each Occurrence

Public Officials Errors & Omissions Liability Each Occurrence

Clerk's Bond

Mayor's Bond

Commercial Auto Physical Damage 1998 Chevrolet Pickup 2011 Chevrolet Tahoe

Commercial Property Building Business Property

AMOUNT

$ 500,000.00

$ 100,000.00 100,000.00 500,000.00

$ 500,000.00

$ 500,000.00

$ 500,000.00

$ 20,376.00

S 20,376.00

$ 4,500.00 24,407.00

$ 100,000.00 20,800.00

PREMIUM

5,472.94

2,329.32

986.68

850.00

2,227.50

100.00

100.00

1,220.00

976.39

See accountants* compilation report.

• 10-

VILLAGE OF MGNARY GLENMORA, LOUISIANA

COMPILATION GENERAL FIXED ASSETS

JUNE 30. 2014

SCHEDULE E

LIFE GENERAL OFFICE

Buildings Equipment Improvements Land

Total General Office

POLICE DEPARTMENT Equipment

COST

20-30 5-10

50

33,793.00 6,922.52 4,015.00 1.100.00

45.830.52

ACCUMULATED DEPRECIATION

19,723.89 4,890.86 1,798.25

M 26.413.00

52.718.31 i

NET BOOK VALUE

14,069.11 2,031.66 2,216.75 1.100.00

19.417.52

37.514.87 $. 15.203.44

STREET DEPARTMENT Equipment Street Improvements

Total Street

5-10 40

46,749.47 297.480.47 344.229.94

29,454.47 48.024.45

$ 17,295.00 249.456.02

77.478.92 $. 266.751.02

PARKS.DEPARTMENT Walking TraU Parking Lot Fence Drainage Park Land Equipment

Total Park

GRAND TOTAL

20 20 20 20 20

10

8,313.43 20,175.15 13,170.91

3,250.90 28,014.90, 36,908.99 10.630.31

120.464.59

563.243.36

2,424.74 5,672.66 3,951.30

975.30 6,254.35

.00 4.586.55

23.864.90 $.

165.271.69 1

5,888.69 14,502.49 9,219.61 2,275.60

21,760.55 36.908.99 6.043.76

96.599.69

397.971.67

See accountants' con:^)ilation report.

-11-

VILLAGE OFMCNARY GLENMORA, LOUISIANA

COMPILATION PROPRIETARY FUND

CHANGES IN FUND NET POSITION- BUDGET AND ACTUAL FOR THE FISCAL YEAR ENDED JUNE 30.2014

SCHEDULEF

ORIGINAL BUDGET

VARIANCE FAVORABLE

ACTUAL OPERATING REVENUES Charges for Services S' 59,400.00 S 64,151.21 $ 4,751.21 Miscellaneous .00 300.00 300.00

Total Operating Revenues s 59.400.00 $ 64.451.21 S 5.051.21

OPERATING EXPENSES Salaries and Enq3loyee Benefits $ 10,112.81 $ 20,541.87 S (10,429.06) Office Supplies 2,220.00 3,751.77 (1,531.77) Profession^ Fees 1,950.00 3,663.33 (1,713.33) Repairs and Maintenance 3,000.00 8,941.78 (5,941.78) Utilities and Telephone 6,000.00 3,145.64 2,854.36 Depreciation and Amortization 21,000.00 21,709.32 (709.32) Water Chlorination 2,700.00 1,570.46 1,129.54 Insurance 2.500.00 3.927.07 (1.427.07)

Total Operating Expenses $ 49.482.81 s 67,251.24 $ (17.768.43)

NET OPERATING INCOME fLOSS) s 9.917.19 s (2.800.03) $ (12.717.22)

NON-OPERATING REVENUES (EXPENSES) Investment Interest $ 300.00 $ 232.69 $ (67.31) Interest Expenses (8.517.19) (8.517.22) (.03)

Total Non-operating Revenues (Expenses) $ (8.217.19) s (8.284.53) $ (67.34)

NET INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS s 1,700.00 s (11,084.56) s (12,784.56)

CHANGE IN NET POSITION 471.844.83 471.844.83 .00

NEf POSITION - BEGINNING OF YEAR $ 473,544.83 $ 460.760.27

NET POSITION - END OF YEAR

See accountants' compilation report -12-

VILLAGE OF MCNARY COMPILATION

GLENMORA. LOUISIANA SCHEDULE OF BONDS PAYABLE - WATER FUND

JUNE 30.2014

SCHEDULEG

2001 NON-MAJOR DEBT

TOTAL YEAR ENDING JUNE 30 PRINCIPLE INTEREST PAYMENTS

2015 $ 3,784.00 S 8,342.00 S 12,126.00 2016 3,945.18 8,180.82 12,126.00 2017 4,159.23 7,966.77 12,126.00 2018 4,361.13 7,764.87 12,126.00 2019 4,572.87 7,553.13 12,126.00

2020-2024 26,376.13 34,253.87 60,630.00 2025 - 2029 33,458.39 27,171.61 60,630.00 2030-2034 42,411.63 18,218:37 60,630.00 2035 - 2039 54.262.72 6.868.93 61.131.65

TOTAL BOND DEBT S 177.331.28 $ 126.320.37 S 303.651.65

See ac^untants' compilation report.

-13-

VILLAGE OF MGNARY GLENMORA, LOUISIANA

COMPILATION WATER DEPARTMENT BILLING RATES AND OTHER STATISTICS

JUNE 30. 2014

SCHEDULER

Hie aged accounts receivablesTof the Utility System

TOTAL CURRENT S.886.64 $ 4;179.14 $_

30 DAYS

883.80

60 DAYS

238.90

90 DAYS OROVER

584.80

RATES RESIDENTIAL

COMMERCIAL

GALLONS 0-2,000 Gallons Over 2;000 Gallons

GALLONS 0- 12,000 Gallons Over 12,000 Gallons

AMOUNT $ 10.00 $ 2.50 Per Thousand Gallons

AMOUNT $ 21.50 S 2.50 Per Thousand Gallons

The estimated water usage for this year is 14,048,434 gallons. The population ofthe Village is 211 with 93 housing units inside the village limits. The water system services customers who do not reside inside the Village's limits. The Village bills 259 residential customs and 1 commercial customer.

Water sold for the years 2010 - 2014 is:

YEAR 2010 2011 2012 2013 2014

GALLONS OF WATER USED 15,984,249 16,269,355 19,100,000 14,134,450 14,048,434

See accountants' coiiq>ilation report.

-14-

CURRENT YEAR FINDINGS

VILLAGE OFMCNARY GLENMORA, LOUISIANA

CURRENT YEAR FINDINGS FOR YEAR ENDED JUNE 30. 2014

Instancea of NoncompUance

14-01 Segregation of Puries

Finding - Due to the small numbCT of employees, the Village of McNary did not have adequate segregation of functions within the accounting systCT. Based upon the cost-benefit of additional personnel, it may not be feasible to achieve complete segregation of duties.

Recommendation - None

Response • None required

14-02 Louisiana Budget Act CompUance

Finding - The Village did not adopt a budget for fiscal 2015 until September 2014. The Village is required to adopt a budget before the end of their fiscal year.

Recommendation - Management should make sure that a budget is presented in May of each year and adopted in June before their June year end.

Response - Management will ensure that the budget is adopted as required by State of Louisiana's RS. 39:1306.

Name of Contact person - Donald Parker, II Mayor

Date to Complete - May 2015

14-03 2014 Budget

Finding - The Village's general fund budgeted revenue has a 5% positive variance.

Recommendation - Management needs to monitor their budget and advise the board when there is a 5% or more variwce in revenues or.expenditures or beginning fund balance so correctionsmay be made on a timely basis.

Response - The Village will monitor their budget more closely in the future.

Name of contact person - Donald Parker, ,n Mayor

Date to Complete - June 2015

-15-

PRIOR YEAR FINDINGS

VILLAGE OF MCNARY GLENMQRA. LOUISIANA PRIOR YEAR FINDINGS

FOR YEAR ENDED JUNE 30. 2013

Finding * Due to the small number of employees, the Village of McNaiy did not have adequate segregation of functions within the accounting system Based upon the cost-benefit of additional personnel, it may not be feasible to achieve complete segregation of duties.

Recommendation - None

Response - None required

Actions Taken in 2014 - None.

-16-