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gT. VINCENT DE PAUL BATON ROUGE COUNCIL
PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUfiE. LOUISIANA
ST. VINCENT PE PAUL COMMUNITY PHARMACY. INC.
ST VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST VINCENT DE PAUL FOUNDATION
SEPTEMBER 30. 2008
BATON ROUGE. LOUISIANA
J nder provisions of state law, this report is a pubw^ Qocument. Acopy 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 ofthe LegislativeAuditor and where appropnate, at the office ofthe parish clerk of court
Release Date ^ j 1 1 01
«•
CONTENTS
Audited Financial Statements:
Independent Auditor's Report Page 1 - 2
Consolidated Statement of Financial Position 3
Consolidated Statement of Activities 4
Consolidated Statement of Functional Expenses 5
Consolidated Statement of Cash Flows 6
Notes to Financial Statements 7 - 12
Schedule of Expenditures of Federal Awards 13
Independent Auditor's Report on Intemal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit ofthe Financial Statements Performed in Accordance with Government Auditing Standards 14 - 15
Independent Auditor's Report on Compliance with Requirements Applicable to Each Major Program and Internal Control Over Compliance in Accordance with OMB Circular A-133 16-17
Schedule of Findings and Questioned Costs 18
Supplementary Information:
Independent Auditor's Report on the Supplementary Information 19
Consolidating Statement of Financial Position 20
Consolidating Statement of Activities 21 - 22
Hannis T. Bourgeois, LLP Certified Public Accountants
2322 Tremont Drive • Baton Rouge, LA 70809
178 Del Orieans Avenue, Suite C • Denham Springs, LA 70726
Phone: 225.928.4770 • Fax: 225.926.0945 www.htbcpa.com
January 26, 2009
Independent Auditor's Report
To St, Vincent de Paul Baton Rouge Council Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana St. Vincent de Paul Community Pharmacy, Inc. St. Vincent de Paul Properties The Society of St. Vincent De Paul Foundation
Baton Rouge, Louisiana
We have audited the accompanying Consolidated Statement of Financial Position of St. Vincent de Paul Baton Rouge Council Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana, St. Vincent de Paul Community Pharmacy, Inc., St. Vincent de Paul Properties, and The Society of St. Vincent de Paul Foundation (the Organizations) as of September 30, 2008, and the related Consolidated Statement of Activities, Functional Expenses and Cash Flows for the year then ended. These fmancial statements are the responsibility of the Organizations' management. Our responsibility is to express an opinion on these fmancial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fmancial 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.
In our opinion, the fmancial statements referred to above present fairly, in all material respects, the fmancial position ofthe Organizations referenced above as of September 30, 2008, and the changes in its net assets and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report dated January 26,2009, on our consideration ofthe Organizations' intemal control structure over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of intemal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the intemal control over fmancial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.
Our audit was performed for the purpose of forming an opinion on the financial statements of the Organizations taken as a whole. The accompanying Schedule of Expenditures of Federal Awards (as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, andNon-Profit Organizations) is presented for purposes of additional analysis and is not a required part of the financial statements of the Organizations. Such information has been subjected to the auditing procedures applied in the audit ofthe financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the financial statements taken as a whole.
Respectfully submitted.
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS OF SEPTEMBER 30, 2008
ASSETS
Current Assets: Cash Grants Receivable Insurance Receivable Accrued Interest Prepaid Expenses Inventory
Total Current Assets
Property, Plant and Equipment, Net of Accumulated Depreciation
Other Assets
Total Assets
$ 2,009,018 205,477 253,199
12,868 25,365
277,130
2,783,057
3,250,744
3,996
$ 6,037,797
LIABILITIES AND NET ASSETS
Current Liabilities: Accounts Payable Accrued Liabilities Deferred Revenue
Total Current Liabilities
26,188 112,927 39,544
78.659
Net Assets: Uruestricted Temporarily Restricted Permanently Restricted
Total Net Assets
Total Liabilities and Net Assets
5,382,570 403,742
72,826
5,859,138
6,037,797
The accompanying notes are an integral part of this statement. 3
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
CONSOLIDATED STATEMENT OF ACTFVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2008
Temporarily Permanently Restricted Total
ubiic Support and Revenue: Public Support:
Contributions Conference Income Donated Facilities/Commodities/
Inventory/Pharmaceuticals/Services
Total Public Support
Revenue: Grant Income Sale of Merchandise Miscellaneous Income Gain on Disposition of Assets Interest Income
Total Revenue
Total Public Support and Revenue
Net Assets Released from Restrictions: Satisfaction of Restrictions
Unrestricted
$ 854,195 654,307
3,554,262
5,062,764
-
1,820,943 11,369
553,613 57,507
2,443,432
7,506,196
,
1,972,326
Restricted
$ 732,691 -
_
732,691
1,397,741 -
-
-
-
1,397,741
2,130,432
(1,972,326)
8,482,697 293,201 304,726
9,080,624
397,898
4,984,672
$5,382,570
-
-
-
_
158,106
245,636
$ 403,742
$ 1,586,886 654,307
3,554,262
5,795,455
1,397,741 1,820,943
11,369 553,613
57,507
3,841,173
9.636,628
Total Public Support, Revenue, and Net Assets Released from Restrictions 9,478,522 158,106 - 9,636,628
Expenses: Program Services 8,482,697 - - 8,482,697 Fund Raising 293,201 - - 293,201 Management and General 304,726 - - 304,726
Total Expenses 9,080,624 - - 9,080,624
Increase (Decrease) in Net Assets 397,898 158,106 - 556,004
Net Assets at Beginning of Year 4,984,672 245,636 72,826 5,303,134
Net Assets at End of Year $5,382,570 $ 403,742 $72,826 $ 5,859,138
The accompanying notes are an integral part of this statement. 4
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
CONSOL[DATED STATEMENT OF FUNCTIONAL EXPENSES
FOR THE YEAR ENDED SEPTEMBER 30, 2008
Salaries and Employee Benefits Payroll Taxes Advertising Auto Assistance to Needy Conference Expenses Dues & Publications Employee Benefits Food Supply Expense Insurance Legal and Professional Meds Direct Miscellaneous Events Printing Pharmacist Hours (Donated) Pharmaceuticals (Donated) Pharmaceuticals Purchased Repairs and Maintenance Rent Expense Store & Uniform Expense Supplies Postage Telephone Travel and Conventions Utilities
Subtotal
Depreciation
Total
Store
$ 887,352 72,372 40,421 56,477 56,713 -1,117 9,236 7,131
82,780 16,747 -
33,678 513
1,500 ---
87,597 245,606
2,098,055 26,681 3,193
33,694 344
78,043
3,839,250
46,691
$ 3,885,941
Dining Room
$ 179,737 13,291
1,567 3,857 3.759 -345
6,755 184,948 32,673 2,760 -
35,621 2,875
782 ---
22,761 --
22,412 2,027 2,398 -
24,969
543,537
40,726
$ 584,263
Shelter
$ 345,985 27,638
5,321 8,411
15,671 -686
5,609 74,160 38,997 11,033
-6,452
382 782
---
45,709 6,303 -
48,887 2,927
10,735 5.057
53,888
714,633
59,022
$ 773,655
Particular Council
$ 55,000 8,500 --
8,660 ----
13,000 900
--------
6,000 ------
92,060
-
$ 92.060
UMCOR
$ 405,574 32,859
560 10,634
---
6,732 70
37,050 5,043 -
1,208 -----575
29.608 -
9,580 1,229
23.406 3.452 -
567,580
13,367
$ 580,947
DHAP
$ 69,192 5.198 -
1.997 ---1,380 -
5,803 -146
------
10.675 -961
15 4,306
10 --
99,683
.
S 99,683
Prt
$
$
)perties
.
423
914
1,337
_
1,337
The accompanying notes are an integral part of this statement.
Council
$ -----
668,741 --------------------
668,741
.
S 668.741
Foundation
$ --------------------------
-
.
S -
Pharmacy ,
$ 191,974 14,464
159 ---
240 16,605 -
15,667 -1,200 -
62 -
34,816 1,354,439
144,574 4.962 --7,143
440 1,332 -6,138
1,794,215
1,855
$ 1,796,070
Total Program
$ 2,134,814 174,322 48,028 81,376 84,803
668,741 2,388
46,317 266,309 225,970
36,906 1,346
77,873 3,832 3,064
34,816 1,354,439
144,574 172,279 287,517
2,099,016 114,718 14,122 71,575 8,853
163,038
8,321,036
161,661
S 8,482.697
Fund Raising
$ 113,351 8,622
84,140 ---
1,152 8,734
870 3.704
132 -
5,222 10,278 25,767
---
5,893 2,500 -
9,154 9,683 3,436
563 -
293,201
.
$ 293,201
Management an
$
—
$
d General
147,372 9,471 2,744
13,035 --
1,380 14,630 12,394 7,922
12,794 -
12,013 1,371 3,126 ---
15.892 --
9,704 7.298 4,392 2.622 5.932
284,092
20,634
304.726
Total Support
$ 260,723 18,093 86,884 13,035
--
2,532 23.364 13,264 11,626 12,926
-17,235 11,649 28,893
---
21,785 2,500 -
18,858 16,981 7.828 3.185 5,932
577.293
20.634
$ 597.927
Total Program ai
$
S
nd Support
2,395,537 192,415 134,912 94,411 84,803
668,741 4,920
69,681 279,573 237,596 49,832
1,346 95.108 15,481 31,957 34,816
1,354,439 144,574 194.064 290,017
2,099,016 133,576 31.103 79.403 12,038
168,970
8,898,329
182,295
9,080,624
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 2008
Cash Flows From Operating Activities: Increase in Net Assets Adjustments to Reconcile Increase (Decrease)
in Net Assets to Net Cash Provided by (Used in) Operating Activities:
Depreciation Gain on Disposal of Assets Changes in Assets and Liabilities:
(Increase) Decrease in Grant Receivable (Increase) Decrease in Insurance Receivable (Increase) Decrease in Accrued Interest (Increase) Decrease in Prepaid Expenses (Increase) Decrease in Inventory (Increase) Decrease in Other Assets Increase (Decrease) in Accrued Liabilities Increase (Decrease) in Accounts Payable Increase (Decrease) in Deferred Revenue
Net Cash (Used in) Operating Activities
556,004
182,295 (553,613)
(45,063) (253,199)
(10) 1,619
22,277 (80)
(31,449) (21,797)
(237,646)
(380,662)
Cash Flows From Investing Activities: Purchases of Building and Equipment Proceeds from the Sale/Disposition of Assets
Net Cash Provided by Investing Activities
Net Increase (Decrease) in Cash and Cash Equivalents
Cash and Cash Equivalents - Beginning of Year
Cash and Cash Equivalents - End of Year
(501,976) 577,799
75,823
(304,839)
2,313,857
$ 2,009,018
The accompanying notes are an integral part of this statement. 6
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2008
Note 1 - Summary of Significant Accounting Policies -
These financial statements include the activity of St. Vincent de Paul Baton Rouge Council, Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana, St. Vincent de Paul Community Pharmacy, Inc., St. Vincent de Paul Properties, and The Society of St. Vincent de Paul Foundation (collectively, the "Organizations"). All significant intercompany balances and transactions have been eliminated in consolidation.
Nature of Activities
The Society of St. Vincent de Paul Baton Rouge Council ("Council") is a nonprofit corporation organized under the laws ofthe State of Louisiana for the following purpose: (a) foster, encourage and carry out the works of charity in the spirit ofthe Society of St. Vincent de Paul; (b) unite all St. Vincent de Paul Conferences in the Diocese of Baton Rouge, Louisiana; (c) ensure that all Baton Rouge St. Vincent de Paul Conferences conduct their affairs according to the Rule set forth in the manual ofthe Society of St. Vincent de Paul in the United States. The members ofthe Council are the presidents of those Baton Rouge SVDP Conferences that are aggregated and in good standing with the Council. The Organization is exempt from income taxes under 501(c)(3) ofthe Intemal Revenue Code.
The Particular Council of St. Vincent de Paul of Baton Rouge ("Particular Council") is a nonprofit corporation organized under the laws ofthe State of Louisiana for the purpose of operating salvage stores; providing a feeding facility for the needy; three shelters and one day center for the homeless; a transitional apartment complex for homeless women; and employment, rehabilitation and opportunities for personal growth to disadvantaged individuals. The sole member ofthe Particular Council is the St. Vincent de Paul Baton Rouge Council. The Organization is exempt from income taxes under Section 501(c)(3) ofthe Internal Revenue Code.
St. Vincent de Paul Community Pharmacy, Inc. ("Pharmacy") is a nonprofit corporation organized under the laws of the State of Louisiana for the purpose of providing a pharmacy for disadvantaged individuals. The sole member ofthe Pharmacy is the Particular Council of St. Vincent de Paul Baton Rouge, Louisiana. The Organization is exempt from income taxes under Section 501 (c)(3) ofthe Internal Revenue Code.
The Society of St. Vincent de Paul Foundation ("Foundation") is a nonprofit corporation organized under the laws ofthe State of Louisiana to be operated exclusively for the benefit ofthe Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana. The Foundation's primary role is to raise fmancial resources for the Particular Council. The sole member ofthe Foundation is St. Vincent de Paul Baton Rouge Council. The Organization is exempt under Section 501(c)(3) ofthe Intemal Revenue Code.
St. Vincent de Paul Properties ("Properties") is a nonprofit Organization organized and operated for the exclusive purpose of holding title of property, collecting income therefrom, and tuming over the entire amount thereof, less expenses, to the Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana. The sole member ofthe Properties is St. Vincent DePaul Baton Rouge Council. The Organization is exempt from income taxes under 501(c)(3) ofthe Intemal Revenue Code.
Basis of Accounting
The financial statements have been prepared on the accrual basis of accounting. Accordingly, revenues are recognized when eamed and expenses are recognized when incurred.
Basis of Presentation
The Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets, as applicable.
Contributions
All contributions are considered available for unrestricted use unless specifically restricted by the donor. Amounts received that are designated for future periods or restricted by the donor for specific purposes, are reported as temporarily restricted or permanently restricted support that increases those net asset classes, depending on the nature ofthe restriction. When a restriction expires (that is, when a stipulated time restriction ends, or purpose of restriction is accomplished), temporarily restricted net assets are reclassified to unrestricted net assets and reported in the Statement of Activities as net assets released from restrictions.
Promises to Give
Unconditional promises to give are recognized as revenues or gains in the period received as assets, decreases of liabilities, or expenses depending on the form of the benefits received. Conditional promises to give are recognized when the conditions on which they depend are substantially met.
Donated Assets, Goods and Services
Land, buildings and equipment received as donations are recognized in the accompanying fmancial statements at their estimated fair market value at the date they are received.
The value of donated items received for resale in the salvage store is recognized in the accompanying financial statements at their estimated fair value only to the extent that the items were resold. Any items not resold are not recorded as donations in the fmancial statements because there is no objective basis available to value such items.
The Organization recognizes contribution revenue for certain services received at the fair value of those services provided those services create or enhance nonfmancial assets or require specialized skills which are provided by individuals possessing those skills and would typically need to be purchased if not provided by donation. During the year ended September 30,2008, donated services ofthe pharmacist were recorded as the services were performed. The value of other contributed services meeting the requirements for recognition in the financial statements was not material and has not been recorded. Nevertheless, a number of volunteers donate a significant amount of time in the operations ofthe stores and dining hall.
8
The value of donated food received at the dining hall is recognized in the accompanying financial statements based on the number of meals served. Donated pharmaceuticals are reflected as contributions at the time used.
St. Vincent de Paul donates space to two dentists to provide dental services for shelter residents. The dentists provide all of their own supplies. St. Vincent de Paul also donates space to the Baton Rouge Primary Care collaborative and Thirst for Justice. The Organization does not record donated revenue for these services because they merely provide the space.
Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and Cash Equivalents
For purposes ofthe Statement of Cash Flows, the Organization considers all unrestricted highly liquid investments with an initial maturity of three months or less to be cash equivalents.
Inventory
Inventory is valued at the lower of cost or market. Cost is determined using the first-in, first-out method. Inventory is primarily purchased xmiforms.
Propertv and Equipment
Expenditures for the acquisition of property and equipment are capitalized at cost. The fair value of donated property and equipment is similarly capitalized. Depreciation is provided over the estimated useful lives ofthe assets, which range from 5 to 39 years, using the straight-line and various accelerated methods.
Contributed Facilities
The Organization operates, without charge, certain premises upon which their salvage store and shelters are located. The estimated fair rental value ofthe premises is reported as support and expense in the year in which the premises are used.
Functional Allocation of Expenses
The costs of providing the various programs and activities have been summarized on a functional basis in the Statement of Activities. Accordingly, certain costs have been allocated among the programs and supporting services benefited based on the time spent on each program.
Note 2 - Property, Plant and Equipment -
A summary of fixed assets as of September 30, 2008 follows:
St. Vincent St. Vincent Particular de Paul de Paul
Council of SVDP Pharmacy Properties
Buildings and Leasehold Improvements $ 2,199,390 $ - $ -Equipment, Furnishings and Vehicles L366,63l
Total
Less: Accumulated Depreciation
Construction in Progress
Land
3,835,548
L170,014
2,400,030
314,600
392.487
25,010
25,010
16.860
8,150
139,500
$2,199,390 1,391.641
3,591,031
1.186.874
2,404,157
314,600
531.987
$ 3,103,094 $ 8,150 $139,500 $3,250,744
Depreciation expense for the year ended September 30, 2008 was $182,295.
Note 3 - Concentrations -
Concentrations of credit risk and revenue sources are limited due to the large number of contributions comprising the Organizations' contributor base.
Cash
The Organization maintains cash accounts with commercial banks, which are insured by the Federal Deposit Insurance Corporation up to the maximum allowed. Periodically, cash may exceed the federally insured amount.
Note 4 - Net Assets Released from Restrictions -
Net Assets were released from restrictions for incurring expenses, satisfying the restricted purpose.
Restrictions accomplished:
Hurricane Disaster Funds Uniforms for Kids Vision to Reality Sheher Contributions Grants Dining Room Contributions Dental Contributions Cook Books
Total Restrictions Released
Particular Council of SVDP
$ 110,659 293,465
1,714 134,060
1,130,299 94,143
1,484 1,468
$ 1,767,292
St. Vincent de Paul
Pharmacy
$ --
-
-
205,034 -
-_
$ 205,034
Total
$ 110,659 293,465
1,714 134,060
1,335,333 94,143
1,484 1.468
$ 1,972,326
10
Note 5 - Restrictions on Net Assets -
The Organization received contributions from individuals for the purpose of helping victims of hurricane disasters. The funds are restricted for hurricane disaster related expenses.
The Organization received contributions from individuals for the purpose of purchasing school uniforms for disadvantaged children. The funds are restricted to the purchase of new uniforms.
The Organization received grants from various sources. The funds are restricted for the purpose ofthe various grants.
The Organization received contributions for the purpose of expanding the Pharmacy and other building costs. The funds are restricted for the purpose of building related expenses.
The Organization received contributions for the purpose of funding the production of Taste and See Cookbook. The funds are restricted for the purpose of expenses related to the production of the Cookbook.
Temporarily restricted net assets are available for the following purposes:
St. Vincent
Building Grants Hurricane Disaster Funds Cookbooks Uniforms for Kids
Particular Council of SVDP
$ 233,164 10,945 33,627 23,302 92.984
de Paul Pharmacy
$ -9,720
-
--
Total
$ 233,164 20,665 33,627 23,302 92.984
$ 394,022 $ 9,720 $ 403,742
During 1996, the Organization was named partial beneficiary of a charitable remainder trust terminating in 5 years. The trust terminated in September of 2001. Upon termination, funds totaling $52,826 became permanently restricted with the future income only to be used for dining room operations.
During 2001, the Organization received a $20,000 donation which was to be held in a separate account with the interest only to be used for dining room operations.
Permanently restricted net assets are available for the following purposes:
Dining Room Operations $ 72,826
Note 6 - 403(b) Program -
Effective December 1999, the Organization set up a 403(b) program for its employees. Under the program, qualified employees are able to make elective deferrals and the Organization contributes up to a maximum of 6% of qualified wages. The total contribution for the year ended September 30,2008 for the Particular Council and the Pharmacy was $60,454 and $10,436, respectively.
11
Note 7 - Lease Commitment -
The Organization has entered into various lease agreements for the use of building and warehouse space under noncancelable operating leases. Future minimum lease payments are as follows:
Fiscal Year: 2009 $164,794 2010 121,288 2011 93,775 2012 31,033
Total Future Minimum Lease Payments $ 410,890
The Organization has also entered into other lease agreements for the store locations that are renewed aimually. Total rent expense for 2008 was $290,017.
Note 8 - Hurricane Gustav -
Hurricane Gustav hit the coast of south Louisiana on September I, 2008. During this hurricane, the Plank Road store, sustained damages to the roof which resulted in a large intake of water within this location. At September 30,2008, the cost basis ofthe assets damaged totaled $269,527 with a net book value of $4,186. Management has negotiated with their insurance company and will receive proceeds of $567,799. As a result ofthe damages to the building and insurance proceeds, a gain of $563,613 has been recorded in these financial statements. At September 30, 2008, $253,199 was recorded as a receivable for the portion of insurance proceeds still owed to the Particular Council of St. Vincent de Paul. As ofthe date of this report, the entire balance of $567,799 has been received and payment to the contractor has been made.
Note 9 - Subsequent Event -
The Board ofthe Particular Council of St. Vincent de Paul of Baton Rouge (Special Works) approved in May 2008 to transfer the title of all land, buildings and improvements and the related accumulated depreciation to St. Vincent de Paul Properties. This transfer is expected to take place during the fiscal year ended September 30,2009 once the title to the properties has been transferred from Special Works to Properties. At September 30, 2008, the net book value of these assets totaled $2,430,124.
12
PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC.
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED SEPTEMBER 30, 2008
Federal Grantor/Pass-Through Grantor/Program Title
U.S. Department of Housing and Urban Development
Passed through City Parish: Emergency Shelter Program Supportive Housing Program Community Development Block Grant
CFDA
Amount of Federal Expenditures
4.231 4.235 4.218
$ 54,711 81,699 56,242
Passed through Louisiana Department of Social Services, Office of Community Services
Emergency Sheher Grants Program
Total U.S. Department of Housing and Urban Development
U.S. Department of Homeland Security
Passed through United Methodist Committee on Relief: Katrina Aid Today
Passed through United Way of America: Emergency Food and Shelter Program
Passed through Catholic Charities: Disaster Housing Assistance Program
Total U.S. Department of Homeland Security
U.S. Department of Agriculture
Passed through Louisiana Department of Education Summer Food Service
Total U.S. Department of Agriculture
U.S. Department of Health and Human Services
Passed through Louisiana Department of Health and Hospitals Comprehensive Aids Resources Emergency Act
Total U.S. Department of Health and Human Services
Total Federal Expenditures
14.231
10.559
93.914
59,811
252,463
N/A
97.024
97.109
596,645
35,856
118,830
751,331
44,409
44,409
92,900
92.900
$1,141,103
13
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
Hannis T. Bourgeois, LLP Certified Public Accountants
2322 Tremont Drive • Baton Rouge, LA 70809
178 Del Orleans Avenue, Suite C • Denham Springs, LA 70726
Phone: 225.928.4770 • Fax: 225.926.0945
www.htbcpa.com
January 26, 2009
To Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana St. Vincent de Paul Community Pharmacy, Inc.
Baton Rouge, Louisiana
We have audited the fmancial statements of Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana, and St. Vincent de Paul Community Pharmacy, Inc., (the Organizations) as of and for the year ended September 30,2008, and have issued our report thereon dated January 26,2009. We conducted our audh in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States.
Intemal Control Over Financial Reporting
In planning and performing our audit, we considered the Organizations' intemal control over fmancial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the fmancial statements but not for the purpose of expressing an opinion on the effectiveness of Organizations' intemal control over fmancial reporting. Accordingly, we do not express an opinion on the effectiveness of the Organizations' intemal control over fmancial reporting.
A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency or combination of control deficiencies, that adversely affects the Organizations' ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles, such that there is more than a remote likelihood that a misstatement of the Organizations' financial statements that is more than inconsequential will not be prevented or detected by the Organizations' intemal control.
A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement ofthe financial statements will not be prevented or detected by the Organizations' intemal control.
Our consideration ofthe intemal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in the intemal control that might be significant deficiencies and, accordingly, would not necessarily disclose all significant
14
deficiencies that are also considered to be material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be a material weakness, as defined above.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Organizations' financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The resuks of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
This report is intended for the Board of Directors, management, the Office ofthe Louisiana Legislative Auditor and any cognizant agency and is not intended to be and should not be used by anyone other than these specified parties. However, under the provisions of Louisiana Revised Statute 24:513, this report is distributed by the legislative auditor as a public document and its distribution is not limited.
Respectfully submitted,
'fiam/fUAi T 1 BsviA JUrWj L L P
15
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
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Hannis T. Bourgeois, LLP Certified Public Accountants
2322 Tremont Drive • Baton Rouge, LA 70809
178 Del Orleans Avenue, Suite C • Denham Springs, LA 70726
Phone: 225.928.4770 • Fax: 225.926.0945
www.htbcpa.com
January 26, 2009
To Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana St. Vincent de Paul Community Pharmacy, Inc.
Baton Rouge, Louisiana
Compliance
We have audited the compliance of the Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana, and St. Vincent de Paul Community Pharmacy, Inc., (the Organization) with the types of compliance requirements described in the U. S. Office of Management and Budget (OMB) Circular A-l 33 Compliance Supplement that are applicable to its major federal program for the year ended September 30, 2008. Compliance with the requirements of laws, regulations, contracts and grants applicable to its major federal programs are the responsibility ofthe Organizations' management. Our responsibility is to express an opinion on the Organizations' compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General ofthe United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audh includes examining, on a test basis, evidence about the Organizations' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the Organizations' compliance with those requirements.
In our opinion, the Organizations complied, in all material respects, with the requirements referred to above that are applicable to its major federal programs for the year ended September 30, 2008.
Internal Control Over Compliance
The management ofthe Organizations is responsible for establishing and maintaining effective intemal control over compliance with requirements of laws, regulations, contracts, and grants applicable to federal programs. In planning and performing our audit, we considered the Organizations' intemal control over compliance with the requirements that could have a direct and material effect on a major federal program in order to determine our auditing procedures for the purpose of expressing our opinion on compliance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness ofthe Organizations' intemal control over compliance.
A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect noncompliance with a type of compliance requirement of a federal program on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the Organizations' ability to administer a federal program such that there is more than a remote likelihood that noncompliance with a type of compliance requirement of a federal program that is more than inconsequential will not be prevented or detected by the Organizations' intemal control.
A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that material noncompliance with a type of compliance requirement of a federal program will not be prevented or detected by the Organizations' intemal control.
Our consideration of intemal control over compliance was for the limited purpose in the first paragraph of this section and would not necessarily identify all deficiencies in intemal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in intemal controls over compliance that we consider to be material weaknesses, as defined above.
This report is intended for the Board of Directors, management, the Office ofthe Louisiana Legislative Auditor and any cognizant agency, and is not intended to be and should not be used by anyone other than these specified parties. However, under the provisions of Louisiana Revised Statute 24:513, this report is distributed by the legislative auditor as a public document and its distribution is not limited.
Respectfiilly submitted.
17
PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC.
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED SEPTEMBER 30, 2008
As required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, the following is a sununary ofthe results of our audit:
* Tj^e of report issued on financial statements - unqualified.
* Type of report issued on compliance for major programs - unquahfied.
* The results of audit procedures disclosed no material noncompliance in the major program.
* The results of audit procedures disclosed no questioned costs.
* Our audit disclosed no findings which are required to be reported under Section 510(a).
* The following programs were determined to be major programs:
CFDA Number U.S. Department of Homeland Security
Passed through United Methodist Committee on Relief: Katrina Aid Today N/A 596,645
Passed through Catholic Charities: Disaster Housing Assistance Program 97.109 118.830
Total U.S. Department of Homeland Security 715,475
* The dollar threshold used to distinguish between Type A and Type B programs was $300,000 as specified under Section 520(b).
* The Particular Council of St. Vincent de Paul of Baton Rouge and St. Vincent de Paul Pharmacy was determined to be a low risk auditee under Section 530.
18
n i W M i
SUPPLEMENTARY INFORMATION
Hannis T. Bourgeois, LLP Certified Public Accountants
2322 Tremont Drive • Baton Rouge, LA 70809
178 Del Orleans Avenue, Suite C • Denham Springs, LA 70726
Phone: 225.928.4770 • Fax: 225.926.0945
www.htbcpa.com
January 26, 2009
Independent Auditor's Report on the Supplementarv Information
To St. Vincent de Paul Baton Rouge Council Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana St. Vincent de Paul Community Pharmacy, Inc. St. Vincent de Paul Properties The Society of St. Vincent de Paul Foundation
Baton Rouge, Louisiana
Our report on our audit ofthe basic financial statements ofthe St. Vincent de Paul Baton Rouge Council, Particular Council of St. Vincent de Paul of Baton Rouge, Louisiana, St. Vincent de Paul Community Pharmacy, Inc., St. Vincent de Paul Properties, and The Society of St. Vincent de Paul Foundation forthe year ended September 30, 2008, appears on page 1. Our audh was made for the purpose of forming an opinion on the consolidated financial statements taken as a whole. The supplementary information is presented for purposes of additional analysis and is not a required part of the consolidated financial statements. Such information has been subjected to the auditing procedures applied in the audit ofthe consolidated financial statements and, in our opinion, is fairly stated in all material respects in relation to the consolidated financial statements taken as a whole.
Respectfully submitted,
T^ojYwuA) T ! BffUA^MuUj L L P
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
CONSOLIDATING STATEMENT OF FfMANCIAL POSITION
AS OF SEPTEMBER 30, 2008
ASSETS
Current Assets: Cash Grants Receivable Insurance Receivable Accmed Interest Prepaid Expenses Inventory Due From Related Entities
Total Current Assets Property, Plant and Equipment, Net of Accumulated Depreciation
Other Assets
St. Vincent dePaul
Councils
$ 163,053 -
-
-
-
-
1,969
165,022
--
Particular Council of St. Vincent
dePaul (Special Works)
$ 1,753,253 $ 156,884 253,199
12,868 18,439
264,372 6,180
2,465,195
3,103,094 3,996
St. Vincent dePaul
Properties
-
-
-
-.
-
2,000
2,000
139,500 _
Total Assets $ 165,022 $ 5,572,285 $
LIABILITIES AND NET ASSETS
Current Liabilities: Accounts Payable Accrued Liabilities Due To Related Entities Deferred Revenue
Total Current Liabilities
Net Assets: Unrestricted Temporarily Restricted Permanently Restricted
Total Net Assets
Total Liabilities and Net Assets
165,022 5,028,438
The accompanying notes are an integral part of this statement. 20
141,500
$
-
-
-
-
165,022 -
-
8,805 $ 101,249 403,969
29,824
543,847
4,561,590 394,022
72,826
-
-
1,500 -
1,500
140,000 --
140,000
$ 165,022 $ 5,572,285 $ 141,500
mm
St. Vincent dePaul
Foundation
-
-
-
-
-
400,000
400,000
_
-
400,000
-
-
-
$
$
$
St. Vincent dePaul
Pharmacy
92,712 48,593
-
-
6,926 12,758
-
160,989
8,150 -
169,139
17,383 11,678 4,680 9,720
$
-
$
$
Eliminations
-
-
-
-
-
(410,149)
(410,149)
-
-
(410,149)
-
(410,149) -
$
-
$
$
Total
2,009,018 205,477 253,199
12,868 25,365
277,130 -
2,783,057
3,250,744 3,996
6,037,797
26,188 112,927
-
39,544
43,461 (410,149) 78,659
400,000
400,000
115,958
9,720
125,678
5,382,570
403,742
72,826
5,859,138
400,000 $ 169,139 $ (410,149) $ 6,037,797
ST. VINCENT DE PAUL BATON ROUGE COUNCIL PARTICULAR COUNCIL OF ST. VINCENT DE PAUL OF BATON ROUGE, LOUISIANA
ST. VINCENT DE PAUL COMMUNITY PHARMACY, INC. ST. VINCENT DE PAUL PROPERTIES
THE SOCIETY OF ST. VINCENT DE PAUL FOUNDATION
CONSOLIDATING STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2008
CHANGES IN UNRESTRICTED NET ASSETS:
Unrestricted Public Support and Revenues;
Contributions Conference Income Donated Facilities/Commodities/
Inventory/Pharmaceuticals/Services Sale of Merchandise Interest Income Gain on Disposition of Assets Miscellaneous Net Assets Released From
Restrictions
St. Vincent dePaul
Councils
$
654,307
-
-
-
-
-
_
Total Unrestricted Public Support and Revenues
Expenses: Program Services Fund Raising Management and General
Total Expenses
Increase (Decrease) in Unrestricted Net Assets
654,307
Particular Council St. Vincent St. Vincent
dePaul dePaul (Special Works) Properties
7,094,725
$
654,307
-
-
-
-
-
-
$ 719,093 -
2,165,007 1,820,943
57,467 553,613
11,310
1,767,292
$
-
-
-
-
-
-
-
668,741
668,741
(14,434)
6,121,549 277,296 281,844
6,680,689
414,036
1,337
1,337
(U337)
(CONTINUED) 21
St. Vincent dePaul
Foundation
St. Vincent dePaul
Pharmacy Eliminations Total
$ 240,102 $ (105,000) $ 854,195
654,307
-
-
-
-
-
-
1,472,655 -
40 -
59
205,034
(83,400) -
-
-
-
-
3,554,262 1,820,943
57,507 553,613
11,369
1,972,326
1,917,890 (188,400) 9,478,522
-
_
1,801,770 53,405 63,082
1,918,257
(367)
(110,700) (37,500) (40,200)
(188,400)
8,482,697 293,201 304,726
9,080,624
397,898
«^Mi
Particular Council St. Vincent St. Vincent St. Vincent
dePaul dePaul dePaul Councils (Special Works) Properties
CHANGES IN TEMPORARILY RESTRICTED NET ASSETS:
Restricted Public Support and Revenues: Contributions Grant Income Net Assets Released from Restrictions
Increase (Decrease) in Temporarily Restricted Net Assets
Increase (Decrease) in Net Assets
Net Assets, Beginning of Year Transfer to (from) Properties and Foundation
Net Assets, End of Year
$
(14,434)
179,456
$ 165,022
$
$
732,691
1,182,987
(1,767,292)
148,386
562,422
4,869,353
(403,337)
5,028,438
$
(1,337)
138,000
3,337
$ 140,000
The accompanying notes are an integral part of this statement. 22
St. Vincent St. Vincent dePaul dePaul
Foundation Pharmacy Eliminations Total
$
400,000
$ 400,000
$
$
214,754
(205,034)
9,720
9,353
116,325
125,678
$
-
$
$ 732,691
1,397,741
(1,972,326)
158,106
556,004
5,303,134
$ 5,859,138
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