La lecture en ligne est gratuite
Le téléchargement nécessite un accès à la bibliothèque YouScribe
Tout savoir sur nos offres
Télécharger Lire

Audit Report Bennett Valley Fire Protection District 2008

De
25 pages
BENNETT VALLEY FIRE PROTECTION DISTRICT ANNUAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2008 RODNEY A. DOLE SONOMA COUNTY AUDITOR-CONTROLLER TREASURER-TAX COLLECTORBENNETT VALLEY FIRE PROTECTION DISTRICT Annual Report For the Fiscal Year Ended June 30, 2008 TABLE OF CONTENTS Page Auditor-Controller’s Report Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets ........................................................................................... 1 Statement of Activities ............................................................................................. 2 Fund Financial Statements: Balance Sheet – Governmental Fund ....................................................................... 3 Statement of Revenues, Expenditures, and Changes in Fund Balance – Governmental Fund .................................................. 4 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balance of the Governmental Fund to the Statement of Activities .................................... 5 Statement of Revenues, Expenditures and Changes in Fund Balance – Budgets and Actual 6 Notes to the Basic Financial Statements .............................................................................. 7 – 20 Required Supplementary Information: Schedule of Funding Status – Safety Plan .................................................................... ...
Voir plus Voir moins

BENNETT VALLEY FIRE PROTECTION DISTRICT

ANNUAL REPORT
FOR THE FISCAL YEAR ENDED
JUNE 30, 2008
RODNEY A. DOLE
SONOMA COUNTY
AUDITOR-CONTROLLER
TREASURER-TAX COLLECTORBENNETT VALLEY FIRE PROTECTION DISTRICT
Annual Report
For the Fiscal Year Ended
June 30, 2008
TABLE OF CONTENTS
Page
Auditor-Controller’s Report
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Assets ........................................................................................... 1
Statement of Activities ............................................................................................. 2
Fund Financial Statements:
Balance Sheet – Governmental Fund ....................................................................... 3
Statement of Revenues, Expenditures, and
Changes in Fund Balance – Governmental Fund .................................................. 4
Reconciliation of the Statement of Revenues,
Expenditures and Changes in Fund Balance
of the Governmental Fund to the Statement of Activities .................................... 5
Statement of Revenues, Expenditures and
Changes in Fund Balance – Budgets and Actual 6
Notes to the Basic Financial Statements .............................................................................. 7 – 20
Required Supplementary Information:
Schedule of Funding Status – Safety Plan ...................................................................... 21
Roster of Board Members .................................................................................................... 22 Auditor-Controller Treasurer-Tax Collector
RODNEY A. DOLE County of Sonoma DONNA M. DUNK
AUDITOR-CONTROLLER 585 FISCAL DRIVE ASSISTANT
TREASURER -TAX COLLECTOR SUITE 101F AUDITOR-CONTROLLER
SANTA ROSA, CALIFORNIA
95403-2819 ROBERT BOITANO (707) 565-2631ASSISTANT
FAX (707) 565-3489TREASURER
PAM JOHNSTON ASSISTANT TAX COLLECTOR / AUDITOR
Board of Directors
Bennett Valley Fire Protection District
Santa Rosa, CA

Auditor-Controller’s Report

We have audited the accompanying basic financial statements of the Bennett Valley Fire Protection
District (the District), as of and for the year ended June 30, 2008, which collectively comprise the basic
financial statements as listed in the table of contents. These financial statements are the responsibility
of the District’s management. Our responsibility is to express an opinion on the financial statements
based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United States
of America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatements. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.

As described in Note IV.C of the Notes to the Basic Financial Statements, the Auditor-Controller is
mandated by various statutes within the California Government Code to perform certain accounting,
auditing and financial reporting functions. These activities, in themselves, necessarily impair the
auditor's independence. However, we believe adequate safeguards and divisions of responsibility
exist.

In our opinion, except for the effects, if any, of the impairment to auditor independence, the basic
financial statements referred to above present fairly, in all material respects, the financial position of
the District as of June 30, 2008, and the respective changes in its financial position for the year then
ended, in conformity with accounting principles generally accepted in the United States of America.

The District's management has not presented the management's discussion and analysis information
that the Government Accounting Standards Board has determined is required to supplement, although
not required to be a part of, the basic financial statements.



February 19, 2009

BENNETT VALLEY FIRE PROTECTION DISTRICT
Statement of Net Assets
June 30, 2008
Assets
Cash and investments $ 605,633
Due from other governments 56,983
Flat charges receivable 5,863
Capital assets (net of depreciation)
Non-depreciable 1,936
Depreciable, net 898,221
Total assets 1,568,636
Liabilities
Accounts payable 32,518
Capital leases payable - Due within one year 72,993
Non-current liabilities:
Compensated absences 3,294
Capital leases payable - Due in more than one year 307,482
Total liabilities 416,287
Net Assets
Invested in capital assets, net of related debt 519,682
Unrestricted 632,667
Total net assets $ 1,152,349
The notes to the basic financial statements are an integral part of this statement.
- 1 -


BENNETT VALLEY FIRE PROTECTION DISTRICT
Statement of Activities
For the Fiscal Year Ended June 30, 2008
Program Expenses
Public safety - fire prevention
Salaries and employee benefits $ 364,053
Services and supplies 244,640
Depreciation 57,331
Debt service - interest 32,448
Total program expenses 698,472
Program Revenues
Charges for services
Intergovernmental revenue 109,761
License and permits 160
Donations 100
Total charges for services 110,021
Capital Grants and Contributions
FEMA grant revenue 36,351
Net program revenues (expenses) (552,100)
General Revenues
Property taxes 658,336
Investment earnings 22,977
Miscellaneous 3,669
Total general revenues 684,982
Change in net assets 132,882
Net assets, beginning of year 1,019,467
Net assets, end of year $ 1,152,349
The notes to the basic financial statements are an integral part of this statement.
- 2 -

BENNETT VALLEY FIRE PROTECTION DISTRICT
Balance Sheet
Governmental Fund
June 30, 2008
Assets
Cash and investments $ 605,633
Due from other governments 56,983
Flat charges receivable 5,863
Total assets $ 668,479
Liabilities and Fund Balance
Liabilities:
Accounts payable $ 32,518
Fund balance:
Unreserved: 635,961
Total liabilities and fund balance $ 668,479
Reconciliation of Balance Sheet to Statement of Net Assets
Fund balance - total government funds $ 635,961
Amount reported for governmental activities in the
statement of net assets is different because:
Capital assets (net of accumulated depreciation and long-term
debt) used in governmental activities are not financial resources
and, therefore, are not reported in the governmental funds. 519,682
Long-term liabilities are not due and payable in the current
period and, therefore, are not reported in the
governmental funds.
Compensated absences (3,294)
Net assets of governmental activities $ 1,152,349
The notes to the basic financial statements are an integral part of this statement.
- 3 -
BENNETT VALLEY FIRE PROTECTION DISTRICT
Statement of Revenues, Expenditures and
Changes in Fund Balance
Governmental Fund
For the Fiscal Year Ended June 30, 2008
Revenues
Property taxes $ 658,336
Investment earnings 22,977
Intergovernmental revenue 109,761
FEMA grant revenue 36,351
Permits and licenses 160
Donations 100
Miscellaneous 3,669
Total revenues 831,354
Expenditures
Current:
Salaries and employee benefits 364,053
Services and supplies 244,640
Debt service
Principal 69,870
Interest 43,070
Capital outlay 39,195
Total expenditures 760,828
Excess (deficiency) of revenues over
(under) expenditures 70,526
Other financing sources (uses)
Capital leases 22,940
Total Other financing sources (uses) 22,940
Net change in fund balance 93,466
542,495Fund balance, beginning of year
Fund balance, end of year $ 635,961
The notes to the basic financial statements are an integral part of this statement.
- 4 -
BENNETT VALLEY FIRE PROTECTION DISTRICT
Reconciliation of the Statement of Revenues, Expenditures and
Changes in Fund Balance of the Governmental Fund to the
Statement of Activities
For the Fiscal Year Ended June 30, 2008
Amounts reported for governmental activities in the statement of activities
are different because:
Net change in fund balance - total governmental fund $ 93,466
Governmental funds report capital outlays as expenditures. However, in
the statement of activities the cost of those assets is allocated over
their estimated useful lives and reported as depreciation expense.
Current year depreciation (57,331)
The net effect of various miscellaneous transactions involving capital leases
payable (i.e. principal payment, accrued interest, pre-payment penalty)
is to increase net assets. 57,552
The net effect of various miscellaneous transactions involving capital assets
(i.e. purchases, sales, reclassifications) is to decrease net assets 39,195
Change in net assets of governmental activities $ 132,882
- 5 -
BENNETT VALLEY FIRE PROTECTION DISTRICT
Statement of Revenues, Expenditures and Changes in Fund Balance -
Budgets and Actual
General Fund
For the Fiscal Year Ended June 30, 2008
Variance with
Final Budget -
Budgeted Amounts Actual Positive
Revenues Original Final Amounts (Negative)
Property taxes $ 658,170 $ 669,373 $ 658,336 $ (11,037)
Investment earnings 21,900 23,900 22,977 (923)
Intergovernmental revenue 14,750 70,966 109,761 38,795
FEMA grant revenue 37,236 37,236 36,351 (885)
Charges for services 505 505 (505)
Licenses and permits 160 160 0
Donations 50 100 100 0
Miscellaneous 1503,6703,669(1)
Total revenues 732,761 805,910 831,354 25,444
Expenditures
Current:
Salaries and employee benefits 373,450 399,160 364,053 35,107
Services and supplies 237,535 248,570 244,640 3,930
Debt service:
Principal 119,870 119,870 69,870 50,000
Interest 20,131 20,131 43,070 (22,939)
Capital outlay 63,195 64,081 39,195 24,886
Appropriations for contingency 18,580 54,098 54,098
Total expenditures 832,761 905,910 760,828 145,082
Excess (deficiency) of revenues over
(100,000) (100,000) 70,526 170,526(under) expenditures
Other financing sources (uses)
Capital leases 22,940 22,940
Total other financing sources (uses) 0 0 22,940 22,940
(100,000) (100,000) 93,466 193,466Net change in fund balance
542,495 542,495 542,495 0Fund balance, beginning of year
Fund balance, end of year $ 442,495 $ 442,495 $ 635,961 $ 193,466
The notes to the basic financial statements are an integral part of this statement.
- 6 - BENNETT VALLEY FIRE PROTECTION DISTRICT
Notes to the Basic Financial Statements
June 30, 2008



I . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Reporting Entity

Bennett Valley Fire Protection District (the District) was formed under Health and
Safety Code Section 13816 through 13822 to provide fire protection services to
taxpayers and residents in a specific unincorporated area of the County of Sonoma.
The District’s governmental powers are exercised through a five member Board of
Directors.

B. Government-wide and Fund Financial Statements

The government-wide financial statements (i.e., the statement of net assets and the
statement of activities) report information on all of the non-fiduciary activities of the
primary government. Governmental activities, which normally are supported by
taxes and intergovernmental revenues, are reported separately.

The statement of activities demonstrates the degree to which the direct expenses of a
given function or segment are offset by program revenues. Direct expenses are those
that are clearly identifiable with a specific function or segment. Program revenues
include 1) charges to customers or applicants who purchase, use or directly benefit
from goods, services, or privileges provided by a given function or section and 2)
grants and contributions that are restricted to meeting operational or capital
requirements of a particular function or segment. Taxes and other items not properly
included among program revenues are reported instead as general revenues.

Separate financial statements are provided for governmental funds. Major individual
governmental funds are reported as separate columns in the fund financial statements.

C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation

The government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting. Revenues are recorded when
earned and expenses are recorded when a liability is incurred, regardless of the timing
of the related cash flows. Property taxes are recognized as revenues in the year for
which they are levied. Grants and similar items are recognized as revenue as soon as
all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial
resources measurement focus and the modified accrual basis of accounting. Under
- 7 -