Page 2 - SECPID Financial Report

SHENANDOAH ESTATES CRIME PREVENTION AND IMPROVEMENT DISTRICT FINANCIAL REPORTING
Shenandoah Estates Crime Prevention and Improvement District (SECPID) is a “Special District” of the State of Louisiana, established under Act 442 (2010) of the State Legislature. As such, SECPID’s meetings and financial activities are a matter of public record.
THE BI-MONTHLY MEETINGS OF THE BOARD OF COMMISSIONERS ARE PUBLIC MEETINGS, AND ALL RESIDENTS AND PROPERTY OWNERS ARE ENCOURAGED TO ATTEND AND PARTICIPATE.
The financial records and reports are a full record of the receipt and use of the Fees collected each year through the Property Tax billings administered by the East Baton Rouge Parish Assessor’s Office and collected and directly deposited to SECPID’s bank account by the East Baton Rouge Sheriff’s Office. The receipts and disbursements are the primary record of the actions taken by the SECPID Board of Commissioners on behalf of and solely for the benefit of ALL property owners and residents of the District.
The Annual Budget is proposed to the Board of Commissioners at the November meeting each year, and modifiedasnecessaryfollowingadditionalproposalsanddiscussions. TheAnnualBudgetreceivesfinal approval at the January meeting of each budget year.
This section of SECPID’s website will include the following documents or information on an ongoing basis
• the 12 month cash-basis Budget Report for the most recently completed calendar year;
• the cumulative cash-basis Quarterly Budget Report as of the end of the most recent calendar quarter; and,
• reference to the most recent unaudited “Compiled Financial Statements” prepared by an independent, qualified Certified Public Accountant, and presented to and accepted by the Louisiana State Auditor. The Compiled Financial Statements reflect the same financial activities as the cash-basis reports provided to the Board of Commissioners but follow “fund accounting” principles dictated for public bodies. The most noticeable difference is to track investment in physical assets (“property and equipment”) and the depreciation of such assets over a period of years. THE COMPILED FINANCIAL STATEMENTS ARE MANDATORY AND ARE NOT USED BY THE BOARD OF COMMISIONERS FOR ANY PURPOSES AFFECTING THE USE OF THE FEES.
FinancialReportingisprimarilytheresponsibilityoftheCommissionerelectedbytheBoardas“Treasurer”. The regular budget reports and annual “Compiled Financial Statements” are reviewed by the Board at each meeting and are part of the permanent records of the District.