Financial Reporting Awards The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the St. Bemard Parish School Board for its comprehensive annual financial report for the Year Ended June 30, 2008. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local govemment financial reports. In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such reports must salisly both generally accepted accounting principles and applicable legal requirements. The Sl. Bemard Parish School Board was also awarded a Certificate of Excellence in Financial Reporting for its comprehensive annual financial report for the fiscal year ended June 30, 2008 by the Association of School Business Officials Inlemational (ASBO). The award certifies that the school system has presented its comprehensive annual financial report lo the ASBO Panel of Review for critical review and evaluation and that the report was judged to have complied with the principles and practices of financial reporting recognized by ASBO. Receiving the award is recognition that the school system has met ihe highest standards of excellence in school financial reporting. The awards received for the system's fiscal year 2008 report represented the sixteenth year that the district had received these respective honors. The Certificate of Achievement and Certificate of Excellence are valid for a period of one year only. The St. Bemard Parish School Board feels that its 2008-2009 Comprehensive Annual Financial Report continues to meet the Certificate of Achievement and Certificate of excellence Programs' requirements and we are submitting it lo the GFOA and ASBO to determine eligibility for another certificate. Acknowledgments The preparation of the Comprehensive Annual Financial Report on a timely basis could not have been accomplished without the efforts and dedication of the entire business operations staff. We would like to express our sincere thanks and appreciation to each and every employee who conlribuled to the development of this report. Lastly, we would like to thank and applaud the members of the St. Bemard Psirish School Board for their leadership in planning and conducting the financial operation of the school system in a dedicated and responsible manner. Respectfully submitted,
Doris Voilier Superintendent
David Fernandez Financial Supervisor

V l l l

ST. BERNARD PARISH SCHOOL BOARD PRINCIPAL OFFICIALS

SCHOOL BOARD MEMBERS

PRESIDENT HUGHC. CRAFT. Ed.D.

A Professional.Accounting Corporation

October 22. 2009

REQUIRED SUPPLEMENTAL INFORMATION: MANAGEMENTS DISCUSSION AND ANALYSIS
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Management's Discussion and Analysis June 30, 2009 We present readers of the St. Bemard Parish School Board's (School Board) financial statements with this narrative overview and analysis of the fmancial activities of the School Board for the fiscal year ended June 30,2009 We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal. Financial Highlights Key financial highlights for the 2008-2009 fiscal year include the following: Statement of Net Assets - The assets of the School Board exceeded its liabilities at the close of the most recent fiscal year by $262,963,203. Of this amount, $4,955,586 (unrestricted net assets) may be used to meet the School Board's obligations to students and creditors. Statement ofActivities - The total net assets of the School Board increased by $30,113,809 for the year ended June 30, 2009. This increase is attributable to several factors including increase in investment in capital assets and a corresponding decrease in the School Board's liability related to bonded debt. Governmental Funds Balance Sheet - As of the close of the fiscal year, the School Board's govemmental funds reported a combined ending fimd balance of $89,311,722, a decrease of $28,761,612 in comparison with the prior fiscal year. The majority of this fund balance is composed of approximately $13.46 million for spending vAlhrn the General Fund, $3.78 million which is reserved for the payment of outstanding bond issues within the debt service funds and $73.53 million which is held in the Capital Projects Funds to finance current and future construction projects. Governmental Funds Statement of Revenues. Expenditures and Changes in Fund Balance - Total revenues for the year ended June 30, 2009 for the govemmental funds of the School Board amounted to $105,082,059. Approximately 70.6% of this amount is received from four major revenue sources: (1) $31.9 million in grants from the Federal Emergency Management Agency (FEMA) (2) $18.1 million from Louisiana's Minimum Foundation Program, (3) $11.3 million from local sales and use taxes and (4) $12.9 million from local ad valorem taxes.
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Management's Discussion and Analysis June 30, 2009 General Fund Ending Fund Balance - At the end of the current fiscal year, the fund balance for the General Fund, a major fund, was $13,464,149, or 31.3% of total General Fund expenditures for 2008-2009. Approximately $.4 million is reserved for encumbrances, $6.2 million (designated) is set aside for future claims and contingencies and specific program expenditures and $6.9 million (undesignated) is available for spending at the Board's discretion. Capital Assets - Total capital assets (net of depreciation) were $196,817,729, or 65.0% of total assets. The School Board uses these assets to provide educational services to children and adults; consequently, these assets are not available for future spending. Long-Term Debt - The School Board's total debt decreased $2,086,584 (7.8%) during the current fiscal year. The key factors are (1) $2,340,000 decrease in bonded debt and (2) a $52,739 decrease in liability for compensated absences. Overview of the Financial Statements This management discussion and analysis is intended to serve as an introduction to the School Board's basic financial statements. The School Board's basic financial statements are comprised of three components: (1) govemment-wide financial statements, (2) fund financial statements and (3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. Govemment-wide Financial Statements - The govemment-wide financial statements are designed to provide readers with a broad overview of the School Board's finances, in a manner similar to that utilized by a private-sector business. The Statement of Net Assets presents information on all of the School Board's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the St. Bemard Parish School Board is improving or deteriorating. The Statement of Activities presents infonnation showing how the School Board's assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

9,620.229 3.242.818 11,260,126 18,111.348 742,704

22itl3

43.000.138
30,113.809 232,849,394 262,963,203
SEE ACCOMPANYING NOTES TO BASIC RNANCIAL STATEMENTS
BASIC FINANCIAL STATEMENTS: FUND FINANCIAL STATEMENTS
tT BERHUtD PARISH SCHOOL KURD ChiteMl*, U u u n a OOVtRHHEHTM. FUNDS JvntSe, K M HJIOICANE eOUGATlON MCOVERVACrIVMEDIATEAIO TO RESTAAT
OENERAt ASSETS Cath and caM a a v M a a
LUHCM FUND 034 M.WI n.Mt 110.1M

FEMA PROJECT

AOVALOREU TAJIBOW smMNO

CAfflAl PROJECTS

OT>R OOVERNWEMTAL FUNDS 1 1.90121B 3.344,736 1104C t
T0IAL8 KI.3D3.37S 31.40.SJ4.I37 110. t0 1,7?7,0H

ii.sat.i7i

I.I7T.t1B 1T.II3.001

111.1IT 1.7J1.977

S.01B,3n i43.4aB

3.011,9

ft.3Va,H3 n.MJ,7M
OOwaaBA lOTALASSITS UASIUTIES AMD FUND BALANCE Awaiiwtii. aMaftaa mm otnm aa* laa martuMoarvIN

l.?S7,0tt

I *?.w.m
J,07I,7T 73,1.lll 1,*77,SW I 7H.M0 1.0M.7H I.401.SI3 tl.Me.H7

73.S02,7TI

'<l.>
I1.SS7.I1S 40.S71.IIU t,577.r

W.WJ.IOP

?.*tfiti

Ul.433 e.lWff79

4.if4.Ma 71.731.140 1U.I1) S.ITS.tll
l e t * FuM BiUnca TOTAL UABUTWS AND FUND BALANCE
1.17S 1.S4a.7W I H.IS4.7M

3.037.158 I

^M'* n,l.77S I
9H.IM 1.IS4.8C143.731. W3
SEE ACCOMPA/TTMO NOTES TOftAStCnNANClAL ETATEUEmS
Statement D ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Reconciliation of the Govemmental Funds Balance Sheet to the Statement of Net Assets June 30, 2009 Total fund balances, govemmental funds The cost of capital assets (land, buildings, fumiture and equipment) purchased or constmcted is reported as an expenditure in governmental funds. The Statement of Net Assets includes those capital assets among the assets of the School Board as a whole. The cost of those capital assets is allocated over their useful lives (as depreciation expense) to the various programs reported as governmental activities in the Statement of Activities. Because depreciation expense does not affect fmancial resources, it is not reported in govemmental fiinds. Cost of capital assets Depreciation expense to date Elimination of interfund assets and liabilities: Interfund assets Interfund liabilities ($40,534,127) 40.971.089 $219,161,604 (22.343.875^ $ 89,311.722

196,817,729

436,962
Net assets of the intemal service fund reported as proprietary fund type in the fund financial statements but included as govemmental activities in the govemment-wide fmancial statements less interfund receivable eliminated in the consolidation into the govemmental activities. Total net assets $1,442,842 1,442,842
Long-term liabilities applicable to the School Board's govemmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities, both current and long-term, are reported in the Statement of Net Assets. Balances at June 30,2009 are: Long-term liabilities: Compensated absences payable Bonds payable Community disaster loan payable OPEB obligation payable Interest payable Total Net Assets - Govemmental Activities SEE ACCOMPANYING NOTES TO BASIC FINANCIAL STATEMENTS 24
($2,777,182) (17,185.000) (4,524,325) (306,135) (253.410^
(25.046.052^ $262.963.203
ST eeANAAOPAfltSH SCHOOL BOARD COVERNMEKTAL FUNDS BUttfflM o( RavwH and ChcnQaa tn Fn4 BabnMa For Oia Yaaf EMad Juna 30.20
OENERAL FUte 1 S,B20,Z2g io.ass,2ii i)O.Ji 73.SN 10BJ1S 1.SJ1.3B7 \r,4H,SM 7,005,147 1

LUNCM FUND

HURRICANE EOucAnoN RECOVCTVACTlUyeOUTEAiO TO RESTART SCHOOLS 1

FEMA PROJECT FUNO

AO VALOREM TAXeOfO SMUNO FUNO 3.3-ai.SU

CAPilAt PROJECTS FUND

OTHER GOVERNMEWAL rUWOS
TOTAiJ 12.163.047 11.260. )2S IMJie 72.S30 m.HO 741.704
Ad Sam and UM t n 1 unS Food aarrtoa ncwua M a i t i l aafnnBt OM)

201.3M

015.650
.94.03> 1,214,711 H. 724.291

10.111.141 7,157,037

1J77.U0 50.354.007 10^0>2.05S

J2L22i

PO"*" exppfffimjREB Cunant 21.132.004 4.214.170 04.B59 1.9,390 1,^3,120 1,11 r.TW 2.0M.02S 910.530 B.&5a.4oa 2.fle3JSl 530.430 0.799. i n 553,503 11.SH a7,sii 489.420 14.S90 rts.231 D,4S1 5*7,315 1S1.T34 ira.43a 3,000.510 i 131.039 H1.7aS 114.975 15,B35t717 5,S39.3a3 311.039 3.743.244 4,233.906 1.J37.341 3.ie3 666.596 6.303.150 1917,4.100 3.134,011 01.047,344 2.340.000 143.10J 1H499.452 JV"7 J3ra
4.50J 69.011 743.004 175^073

S6I.3M 2.WD.3S3

OananJi

B3.33S 11.426

Cf*ai aarvicaa Camnuncy MTrtea praoranw Faodcy OctiaarMCt
25,290 57.071.554 1.790.000 oor.sii
4.025.790 590.000 34.090 5.000.603 ft.s7e.e73 093.421
Total Ej^anttufaa EXCESS (DEFCCNCY) OF REVENUES OVER (UNOERl CXPCNOmjRES OT>Cn FHANCWO SOURCES (USESt. Inautnca iMCaada trttn looa Sala of capaI aNata Trenatanoul Tout Oow tmanofio Souna* (Utta) NET CHIWCG M FUND BALANCES FUNO BALANCES AT BEOINNINO OF YEAR FIM> BALAMCE8 AT END OF VEM 1.

ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes to the Basic Financial Statements June 30,2009 C. FUNDS The School Board uses funds to maintain itsfinancialrecords during the year. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions relating to certain School Board functions or activities. A fund is defined as a separate fiscal and accounting entity with a self-balancing set of accounts. Funds of the School Board are classified into the following categories: govemmental, proprietary and fiduciary. Governmental Funds Govemmental funds account for most of the School Board's general activities, including the collection and disbursement of specific or legally restricted monies, the acquisition or constmction of capital assets, and the servicing of general long-term obligations. Govemmental funds include: 1. General Fund - the primary operating fimd of the School Board: This fund is used to account for all financial resources except those required to be accounted for in other funds. 2. Special Revenue Funds - account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes, or designated by the School Board to be accounted for separately. 3. Debt Service Funds - account for transactions relating to resources retained and used for the payment of principal, interest and related costs on long-term obligations. 4. Capital Projects Fund - accounts for financial resources received and used for the acquisition, constmction or improvement of capital facilities not reported in the other govemmental funds. 5. Permanent Fund - accounts for financial resources that are legally restricted to the extent that only eamings generated, and not principal, may be used to support programs.
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes to the Basic Financial Statements June 30, 2009 Proprietary Fund Type - Intemal Service Fund Proprietary funds account for activities similar to those found in the private sector where the determination of net income is necessary or useful for sound financial administration. Proprietary funds differ from govemmental funds in that their focus is on income measurement which, together with the maintenance of equity, is an important financial indicator. The School Board has one proprietary fund - the Workers' Compensation Intemal Service Fund. This fund accounts for the financing of the School Board's self insurance program for workers' compensation. In the Proprietary ftind, current claims expenses or increases in claims estimates occurring in the current period are considered operating expenses. Revenues received from the General and Lunch Funds which are related to these operating expenses are considered operating revenues. Interest eamed on bank accounts or monies receivedfiromother funds which exceed their allocated share of the current operating expenses of the Proprietary Fund are considered non-operating revenues or transfers-in to the fund. Fiduciary Fund Type Fiduciary fiands account for assets held on behalf of outside parties, including other govemments, or on behalf of other funds within the School Board. Fiduciary funds include: Agency Funds - account for assets held by the School Board on behalf of other funds and as an agent for the individual schools, school organizations and employees. These fiinds are custodial in nature (assets equal liabilities) and do not involve measurement or results of operations. Consequently, the agency fund has no measurement focus, but does use the accrual basis of accounting. D. BASIS OF ACCOUNTING / MEASUREMENT FOCUS Government-Wide Financial Statements (GWFS) The Statement of Net Assets and Statement of Activities display information about the reporting govemment as a whole. Fiduciary funds are not included in the GWFS. Fiduciary funds are reported only in the Statement of Fiduciaiy Net Assets at the fund financial statement level.

July 4, 2008 July 22, 2008 July 22,2008
The School Board legally adopts budgets for the General Fund and Special Revenue Funds. Formal budget integration is employed as a management control device. The School Board approves budgets at the fund level, which is the legal level, giving management the authority to transfer amounts among line items within any fund. When actual revenues within a fimd fail to meet budgeted revenues by five percent or more and/or actual expenditures within a fijnd exceed budgeted expenditures by five percent or more, a budget amendment is adopted by the School Board in an open meeting. Budget amounts included in the accompanying financial statements include the original adopted budget and all subsequent amendments. The budgets are prepared on a basis which differs from generally accepted accounting principles in that the School Board's budget includes encumbered amounts. Accordingly, the budgetary basis expenditure data reflected in the Budgetary Comparison Schedule - General Fund (Exhibit 1) includes encumbrances and, thus, differs from the expenditure data reflected in the Statement of Revenues, Expenditures and Changes in Fund Balances Govemmental Funds (Statement E) by the amount of encumbrances outstanding at year end. Unencumbered appropriations lapse at year-end.
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes to the Basic Financial Statements June 30, 2009 F. ENCUMBRANCES Commitments relating to outstanding purchase orders and contracts for goods and services are recorded as encumbrances in order to reserve the applicable portion of the appropriation. Encumbrances outstanding at year end are reported as reservations of fund balances since they do not constitute expenditures or liabilities but represent authority for expenditures in the subsequent year. Encumbered appropriations lapse at year end but are reappropriated in the subsequent fiscal year. As materials are subsequently received and contracts are executed, liabilities are recorded and the related encumbrances are liquidated. G. DEPOSITS AND INVESTMENTS Cash includes amounts in demand deposits and interest bearing demand deposits. Cash equivalents include amounts in time deposits, all of which are certificates of deposit, the amount invested in the Louisiana Asset Management Pool (LAMP), and the amount maintained in the Education Excellence Fund. Under state law, the School Board may deposit funds in demand deposits, interest bearing demand deposits, money market accounts, or time deposits with state banks organized under Louisiana law and national banks having their principal offices in Louisiana. State statutes authorize the School Board to invest in the following types of securities: (1) (2) Direct U.S. Treasury obligations, the principal and interest of which are fiilly guaranteed by the U.S. Govemment. Fully-collateralized certificates of deposit issued by qualified commercial banks and savings and loan institutions located within the State of Louisiana. In addition, local govemments in Louisiana are authorized to invest in the Louisiana Asset Management Pool, Inc. (LAMP), a non-profit corporation formed by an initiative of the State Treasurer and organized under the laws of the Slate of Louisiana, which operates a local govemment investment pool. Investments in LAMP are stated at fair value based on quoted market rates. The fair value is determined on a weekly basis by LAMP and the value of the position in the extemal investment pool is the same as the value of the pool shares. (3) Bonds, debentures, notes or other evidence of indebtedness issued or guaranteed by federal agencies, or by U.S. govemment instrumentalities

M. LONG-TERM DEBT Long-term debt expected to be financed from goverrmienlal funds are reported in the Statement of Net Assets. Expenditures for principal and interest payments for long-term debt are recognized in the govemmental funds when due. Long-term debt expected to be financed from proprietary fund operations are accounted for in that fund.
N. FUND EQUITY Restricted Net Assets For the govemment-wide statement of net assets, net assets are reported as restricted when constraints on use are either extemally imposed by creditors, grantors, contributors or imposed by law or govemment regulation. When both restricted and unrestricted resources are available for use, it is the School Board's policy to use restricted resources first, then unrestricted resources as they are needed. Reserves Reserves represent those portions of fund equity which are not appropriable for expenditures or have not been legally segregated for a specific future use.
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes to the Basic Financial Statements June 30, 2009 Designated Fund Balances Designated fund balances represent tentative plans for future use of financial resources. O. INTERFUND TRANSACTIONS Interfund services provided and used are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fimd for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fiind that is reimbursed. All other interfund transactions, except interfund services provided and used, are reported as transfers in or out. P. SALES AND USE TAX A five percent local sales and use tax is levied and collected within St. Bemard Parish of which two percent is received by the School Board. The sales and use lax received by the School Board is pledged as security for the sales tax bonds. The amount received in excess of the debt service requirements on the sales lax bonds may be used for any other lawful purpose. The tax is collected by the Sl. Bemard Parish Sheriffs Office, except those taxes levied on the sale of motor vehicles, which are collected by the Stale of Louisiana. The Sheriffs Office receives a commission of eight percent on the gross amount of one and one-half percent of the two percent sales tax collected for the School Board. The Sheriffs Office receives no commission in the collection of the additional one-half percent. The sales tax revenues reported in the accompanying financial statements are shown net of the sheriffs commission. Q. AD VALOREM TAX The ad valorem tax is due and becomes an enforceable lien on property on the first day of the month following the filing of the tax rolls by the assessor with the Louisiana Tax Commission (usually December 1). The lax is delinquent thirty days after the due date. ITie tax is levied based on property values determined by the Si. Bemard Parish Assessor's Office. Land and improvements are assessed at 10 percent of fair market value and all other 51

ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes to the Basic Financial Statements June 30, 2009 B. Louisiana School Employees^ Retirement Svstem (LSERS) Plan Description: The LSERS provides retirement benefits as well as disability and survivor benefits. Ten years of service credit is required to become vested for retirement benefits and five years to become vested for disability and survivor benefils. Benefits are established and amended by state statute. The LSERS issues a publicly available financial report that includes financial statements and required supplementary information for the LSERS. That report may be obtained by writing to the Louisiana School Employees' Retirement System, Post Office Box 44516, Baton Rouge, Louisiana 70804, or by calling (225) 9256484. Funding Policy: Plan members are required to contribute 7.5% of iheir annual covered salary and the School Board is required to contribute at an actuarially determined rate. The 2008-2009 rate was 17.8% of annual covered payroll for members of the plan. Member contributions and employer contributions for the LSERS are established by state law and rates are established by the Public Retirement Systems' Actuarial Committee. The School Board's employer contribution for the LSERS is funded by the State of Louisiana through annual appropriations and by remittances from the School Board. The School Board's contributions to the LSERS for the years ended June 30, 2009, 2008 and 2007 were $412,765, $332,682 and $298,700, respectively, and equaled the required contribution for each year. 6. POST-RETIREMENT HEALTH CARE AND LIFE INSURANCE BENEFITS The School Board provides certain continuing health care and life insurance benefits for its retired employees. In accordance with Louisiana Revised Statute Title 42 chapter 12, substantially all of the School Board's employees become eligible for these benefits if they reach normal retirement age while working for the School Board. A portion of the retiree premium is funded through mandated slate contributions. The School Board has ftjrther elected to treat retirees in the same manner as active employees and provide a local contribution toward their premium. These benefits for retirees and similar benefils for active employees are provided through the State Employees Group Benefits Program, whose monthly premiums are paid jointly by the employee and the School Board. The School Board recognizes the cost of providing these benefils as an expenditure when the monthly premiums are due. For the year ended June 30, 2009 the cost of retiree benefils totaled $6,376,406, of which $5,677,649 was paid by the employer and $698,757 was paid by the employee. Benefits are provided for approximately 713 retirees.

10. OTHER INDIVIDUAL FUND DISCLOSURES A Interfund Reccivables/Payables (FFS Level Only)
The primary purpose of interfund receivables/payables are to (1) loan monies from the General Fund to individual federal funds to cover grant expenditures pending reimbursement from the respective granting agencies and (2) reflect operating transfers due from the General Fund to other funds. All interfund payables are expected to be repaid within the next fiscal year. Individual fund balances due from/to other funds at June 30,2009 are as follows:
Fund Major Funds: General fund Special revenue fund - Lunch Fund Special revenue Fund - Hurricane Education Recovery Act FEMA Project Fund Capital Project Fund Nonmajor Funds: Special revenue funds Debt service funds Intemal service fund Totals Due From Other Funds Due To Other Funds
$17,813,002 25,296 22.683,783 12,046 436.962 $40,971,089
$23,149,819. 1,086,785 13.980,587 2,752,633 1,265. $40.971.089
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes lo the Basic Financial Statements June 30, 2009 B Transfers
Transfers between funds primarily serve two purposes: (1) transfer of indirect cost reimbursements from federal ftinds to the General Fund, and (2) transfer of operating monies from the General and Lunch Funds to the Intemal Service and Capital Projects Funds. Individual fund interfund transfers for the year ended June 30, 2009 were as follows: Fund Major Funds: General fiind Lunch Fund FEMA Project Fund Capital projects fund Nonmajor Funds: Special revenue funds Intemal service fund Totals Transfers in $ 601,782 398,000 13,795,000 10,000,000 472.000 $25.266.782 Transfers out $10,870,000 34,829 13,795,000 566,953 $25j66.782
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Notes to the Basic Financial Statements June 30, 2009 11. RESERVED AND UNRESERVED - DESIGNATED FUND BALANCES
The reserved and unreserved - designated components of fund balances consist of the following:
Ad Valorem I'a.x Bond Sinking Fund

FBMA Projcci Fund

Other Governmental Funds
Reserved for Encumbrances Dcbi service Invxnioo" Scholarships Total Reserved Unreserved Designated for: Special Programs Contribution Self Insurance Retention SelflnsuraiKcRclcnlion-Property Scholarships Capital Ptojects Telecommunications Services Media Services Total Unreserved Designated Undesignated TOTAL FUND BALANCE

$391,433

$ ltO.190

$ 741.076

3.037.159

15.000 756.076

S 391.433 3,778.235 110,190 15.000 4.294.858

391.433

110,190
991.724 1.786.090 400,000 1.500.000 158.813 73.531.465 822.525 699.336 6.199.675 6.873.041 781.185 (2.527.315) $3.037.159 573.531.465 $ 914.889 73.531.465 158.813

TOTAL ESTIMATED ACTUAL VALUE 2.471,996.057 2.592,120.116 2,671.219.200 2.654.949.007 2.977.502.465 3.098,383.643 2,045.862.807 2.053,107,121 1.945.986,430 2,429,897.739
RATIO OF TOTAL ASSESSED VALUE TO TOTAL ESTIMATED ACTUAL VALUE 7.71% 7.77% 7.89% 8.41% 6.71% 6.61% 10.52% 10.76% 11.83% 11.50%
ST, BERNARD PARISH SCHOOL BOARD Chalmette, Louisiarw

TABLE 6

Overlapping Governments 2000-2009 (Unaudited) SCHOOL DISTRICT DIRECT RATE YEAR ENDED JUNE 30 2(K)OPERATING MILLAGE 16.00 35,00 35.00 35.00 35.00 35.00 3S.O0 35.00 35.00 33.55 DEBT SERVICE MILLAGE 13.25 13.25 13.23 13.00 tt,25 9.30 14.00 14.00 12.50 12.00 TOTAL SCHOOL MILLAGE 29.25 48.25 48.23 48.09 46.25 44.30 49.00 49.00 47.50 45.55 OVERLAPPING RATES ST. BERNARD PARISH OTHER GOVERNMENT eNTITIES 21.27 21.60 21.10 21.10 20.85 20.09 19.93 19.68 19.18 18.44 29.94 30,33 35.33 35.03 TOTAL DIRECT OVERLAPPING RATES 80.46 100.18 104.66 105.02 101.68 S9.92 103.54 103.54 101.79 97.77
35.53 34.61 34.86 35.11 33.78

Source:

St. BerT>ard Parish AaseMor'B Office
ST. BERNARD PARISH SCHOOL BOARD Chalmette, Louisiana Principal Property Taxpayers June and Nine Years Ago (Unaudited)
TAXPAYER Chalmette Refining Murphy Oil Colonial Pipeline Co. Entergy Louisiana, Inc. Southern Naturai Gas American Sugar / Domino CM Cartjon. LLC Capital One Bank Bellsouth Regions Bank Shell Energen Resources Banc One Totals
TYPE OF BUSINESS Oil and Gas Oil and Gas Oil and Gas Electric Utility Gas Utility Sugar Refinery Refinery Financial Services Telephone Utility Financial Services Oil and Gas Oil and Gas Financial Services
FISCAL YEAR 2009 TAXABLE PERCENTAGE ASSESSED OF ASSESSED RANK VALUATION VALUATION $68,934,463 37.031,507 17,357.960 9.440,900 8.567,980 7,516.219 3.960.890 3.902,921 3.419,606 3.097,160 -. $163,229,10 25.88% 13.90% 6.61% 3.54% 3.22% 2.82% 1,49% 1.47% 1.28% 1.16% 61.27%

TABLE 7

FISCAL YEAR 2000
TAXABLE ASSESSED VALUATION $43,582,854 19,185.461 PERCENTAGE OF ASSESSED VALUATION 22.88% 10.07%

RANK 1 2

6.275,350 5.520,040 6.517.463 4.311.765 6,251,963

.135.436

4/1/2008 4/1/2008 4/1/2008 4/1/2008 4/1/2008 4/1/2008
3/31/2009 3/31/2009 3/31/2009 3/31/2009 3^1/2009 3/31/2009

l(Vl/2008

9/30/2009
Bodily liuury / Property Damage
1.000,000 / 3.000.000 Annual Assrcgale 25.000 deductible 1.000.000 / 25.000 deductible 5.000/50,000 Medical

50.117

I0/I/200I

900^2009

Botfily Injury / Property Damage

136.329

Legal UatrilUy LARMA

10/1/2008

9/30ra)09
U K I from nesliient acts and rrom errors and omitsioni
1.000.000/ 15.000 deductible

11.878

Fklriity 6/21/2008 Worker* Comptmaiion Self Insured Safely NatJotnl StodcDt and Aititcte UniledHcallhcaje 6/20n009 Employee Theft 500.000/5.000 deductAle 1.952

7/1/20O8 7/1/2008

600/2009 6/30/2009
AH Employees Excess Workcn Comp Coverage
300.000 1,000,000 / 300.000 deductible

32.428

8/1/2008

7/31/2009

All Athletes and ExtracuirKulBr Qtoupi

25.000

TABLE 20
Schedule of Compensation Paid to Board Members For the Year Ended June 30, 2009 With Comparative Totals for the Year Ended June 30, 2008 (Unaudited)
Hemrian J. Bonnette, Sr. Donald D. Campbell Hugh C. Craft - President (from 1/2008) Lynette Difatta Diana B. Dysart - President (through 12/2007) William H. Egan Clifford M. Englande Sharon A. Hanzo Henderson Lewis, Jr. Joseph V. Long Perry Nicosia
$7,200 7,200 7.500 7,200 7,500 7,200 7,200 7,200 7,200 7,200 7,200 $79,800
$7,200 7,200 7,800 7,200 7,200 7,200 7,200 7,200 7,200 7,200 7,200 $79,800
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SINGLE AUDIT SECTION

LAPORTESHHRT ROMIG HAND
CrRriHt'n PUBLIC \CCOUNTANTi
R n r O R T ON INTEl^NAL CONTROL OVER FINANCi/VL REPOUTING AND ON CO.MIMJANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERf ORMED IN ACCOKD-A-NCE WITH GOyERNMENTAUDITING STANDARDS To ihc Members nfihe Sl. Bernard Parish Sciiool Board Chiilmciie. Louisiana Wc have audiied ihe financial siaicniems ofihe governmental aeiiviiies, each inajor fund and the aj^gregaic reniaininc; fund infonnation of Sl. Bernard Parish School Board as ofand for ihe year ended June 30. 2009. wliich collcciivcly comprise ihc St. Bemard Parish School Board's basic financial siaicnienis and have issued our repon thereon dated Ociober 22, 2009, We conducted our audit in accordance with audiiinu standards uenerally accepted in the United States of.America and the standards applicable to financial audits contained in Govemmeni Audiiing Siano'ara's, issued by the Coniplroller General ofihe United States. hnemal Control Over Financial Reponini: in planning and pcrfomiinu our audit we considered the St. Bernard Parish School Board's iiiiCiTiai coniiol over financial repoaing as a basis for designing our audiiing procedures for the purpose of cxpressiiig our opinion on the financial siaiemcnts, but not for ihe purpose of expressing an opinion on liie effectiveness of Si. Bt-rnard Parish School Board's intemal control over nnancial reporting.AccordingI}, we do not express an opinion on the effectiveness of Sl. BcmarJ Parisii School Board's inienial control over financial reporting.'\ confrol deficiency exists when the design or optraiion of a conirol do.s not aliou inanagemeni or L-mployecs. in the nonnal course of pcrfomiiiig their assigned functions, to prevent or deieci misstatcinents on a timely basis.\ significant deficiency is a control deficiency, or combination of ccniiol deficiencies, thai adverse!)' affects the eniit>'s ability to initiate, authorize, record, process^ or I'jpon financial data reliably in accordance with generally accepted accouniing principles such that there 1? more than a rcnioie likelihood thai a misstaiemeni ofihe entity's financial siaiejncnis thai is more ihan inconsequential will nol be prevented or detected b\' the entity's intemal control.A innieriai weakncs.s is a significant dcilcicncy. or combination of significant deficiencies, that ixsuhs in more than a remote likelihood ihat a material misstatement ofihe financtai staiements will nol be prevented or detected by the entity's interna! control.

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RSMMcGladrey Network 158

Our consideration of the internal control over financial rcpoiting was for the limited purpose described in ihe firsi paragraph of this section and would nol necessarily identify all deficiencies in internal control thai might be significant deficiencies or material weaknesses. We did nol tdt-tnify any deficiencies in intemal control over financial reporting that wc consider to be material weaknesses, as defined above. Comt^liance and Other Mallei's As part of obtaining reasonable assurance about whether the Si. Bemard Parish School Board's financial statements are free of material misstaiemeni. wc performed lests of its compliance with certain provisions of laws, regulations, conlracis and gram agreements, noncompliance with which could have a direct and material ciTeci on ihc dcicrmination of financial siaiemenis amounts. However, providing an opinion on compliance with those provisions was nol an objcciive of our audii and. accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters ihal are required lo be repoiied under Covcrnnieni Audiiing Standards. This rcpon is intended sole!)' for ihe information and use of the Sl. Bernard Parish School Board, the Siaic of Louisiana, federal awarding agencies and pass-through entities, and the Legislative Auditor of the State of Louisiana, and is not intended to be and should not be used by anyone oiher than those specified parlies. Under Louisiana Revised Siatiite 24:513, this report is distributed by ihe Legislative.Auditor as a public document.
A Professional Accounting Corporation
LAPORTE SEH RI ROMIG HAND
ClflTIFlfD I'UflllCACCObNIA.'Mj
REPORT ON COMPLIANCE WITH RKQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLLVNCE IN ACCORDANCE WITH OMB CIRCULAR A-133
To the Members of the Sl. Bemard Parish School Board Chalmcne. Louisiana Compliance We have audited the compliance of the St. Bernard Parish School Board with the types of compliance requiremenis described in the U. S. Office of S'kmaf^emcnt and Budget (OMB) Circular A133 Cof}iplia)ice Supplemem that arc applicable lo each of its major federal programs for the year ended June 30, 2009. 1'he St. Bernard Parish School Board's major federal programs are identified in the sunimaiy of auditor's results seciion of the accompanying schedule of findings and questioned costs. Compliance with the requiremenis of laws, regulations- conlracis and crams applicable to each of its major federal programs is the responsibility ofihe Sl, Bernard Parish School Board's management. Our responsibiiii> is to express an opinion on the Sl. fiernard Parish School Board's compliance based on our audii. We conducted our audit of compliance in accordance wiili auditing standards generally accepted in the United Slates of.America; the standards apphcable lo financial audits contained in Govemmeni Audiiing Standards, issued by the Comptroller General of the United States; and OMB Circular A-i3j. Audits ojStales. Local Governments, and h'on-Profii Or*ianizaiions. Those standards and OMB Circular.''\-i33 require tiiai wc plan and perftimi ihc audit lo obUun reasofiablc rissuiaricc aboui whether noncompliance with the types of compliance requirements referred to above could have a direct and material effect on a major federal program occuned. An audit includes CNumimng. on a lest basis, evidence about the Sl. Bernard Parish School Board's compliance with those requirements and perfomiing such other procedures as wc considered necessar)' in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit dues not provide a legal deierininalion of the Sl. Bernard Parish School Board's compliance with those requirements. In our opinion, the St. Bernard Parish School Board complied, in all material respects, with the lequiremenis referred lo above that are applicable to each nf iis major federal programs for the year ended June 30.2009.

$52.220.223

ST. BERNARD PARISH SCHOOL BOARD SCHEDULE OF FINDINGS AND QUESTIONED COSTS For The Year Ended June 30,2009 A. SUMMARY OF AUDIT RESULTS 1. The auditor's report expresses an unqualified opinion on the financial statements of the St. Bemard Parish School Board. 2. No significant deficiencies relating to the audit of the financial statements are reported in the Report on Compliance With Requirements Applicable to each Major Program and Intemal Control Over Compliance in Accordance With OMB Circular A-133. 3. No instances of noncompliance material to the financial statements of the St. Bemard Parish School Board were disclosed during the audit. 4. No significant deficiencies relating to the audit of the major federal award programs are reported in the Report on Compliance With Requirements Applicable to Each Major Program and Intemal Control Over Compliance in Accordance with OMB Circular A133. 5. The auditor's report on compliance for the major federal award programs for the St. Bemard Parish School Board expresses an unqualified opinion. 6. Audit findings that are required to be reported in accordance with Section 510(a) of OMB Circular A-133 are reported in Part C. of this Schedule. 7. The programs tested as major programs included: PROGRAM Immediate Aid to Restart School Operations Community Development Block Grant Readiness and Emergency Management for Schools Hurricane Educators Assistance Program 8. The threshold for distinguishing Types A and B programs was $1,566,607. 9. The School Board was determined to be a low-risk auditee. B. FINDINGS - FINANCIAL STATEMENTS AUDIT None C. FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT None CFDA No. 84.938A 14.228 84.184E 84.938K

LAPORTESEHRT ROMIGHAND

CERTlflCD rUHLIC ACCOUNIANTS
Independent A c c o u n l a n l ' s Report O n A p p l y i n g A g r c c d - U p o n Procedures
T o the Members o f the Sl. B e m a r d Parish School Board C h a l m e l l c , Louisiana W c have performed the procedures included in ihe Loin'siana G u v e r n m c n t o / A u d i t G u i d e and enumerated b e l o w , w h i c h were agreed l o b y the nianagement o f S i. Bernard Parish School B o a r d and the Legislative A u d i t o r Slaic o f Louisiana, solely l o assisl ihe users in evaluating management's assertions ahout Ihe performance and statistical data a c c o m p a n y i n g i h c annual financial siaiemcnts o f St. Bernard Parish School Board and to determine whether ihc specified schedules arc free o f o b v i o u s errors and omissions as p r o v i d e d by the Board o f l:lcnientar>' and Secondary' t i d u c a l i o n ( B E S L ) B u l l e t i n. T h i s agreed-upon procedures engagemcnl was performed in accordance w i t h standards established by the A m e r i c a n Instiuitc o f C e n i f i e d Public Accountants and applicable standards o f Government A u d i t i n g Standards. T h e sufficiency o f these procedures is solely ihc r e s p o n s i b i l i t y o f the specified users o f the report. Consequently, wc make no representation regarding the s u f f i c i e n c y o f the procedures described b e l o w either for llie purpose for w h i c h this report has been requested or for any other purpose. O u r procedures and findings relate to ihe accompanying schedules o f supplemental i n f o r m a t i o n and arc as f o l l o w s : G e n e r a l F u n d I n s t r u c t i o n a l i m d Support E.xpendilures a n d C e r t a i n L o c a l Revenue Sources {Schedule