LAFOURCHE PARISH GAME AND FISH COMMISSION

Commission Finances

The Lafourche Parish Game and Fish Commission (Commission) is a unit of the Lafourche Parish Council, and is required to submit an annual financial statement prepared by a certified public account in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants and using Generally Accepted Accounting Principles. The annual financial statements are available for public view.

Commission funds are placed either in a checking account with Capitol One Bank or in the Louisiana Asset Investment Pool (LAMP). LAMP is an external investment pool to enable public entities in the State of Louisiana an opportunity to pool their funds for investment. The primary objective of LAMP is to provide a safe environment for the placement of public funds in short-term, high quality investments. The LAMP portfolio includes investments only in federal agencies backed by the U.S. government, government-only money market funds rated AAA by Standard and Poor's, and commercial paper of domestic U.S. corporations rated A-1 or A-1+ by Standard and Poors. As of April 30 2013, Commission fund balances were $121,763 in LAMP and $33,766 in the Capitol One checking account.

Commission bylaws provide additional financial guidance:

(1) Any item purchased by the Commission shall remain the property of the Commission until legally disposed of and be used for the express purpose of the Commission only.

(2) All property purchased by the Commission shall be held in accordance with La. R. S. 42:1461.

(3) All property of the Commission shall be inventoried and inspected at least once per calendar year with a full reporting at the first meeting of the calendar year.

(4) The Commission may derive revenue from means of a legal nature (i.e., the sale of alligator eggs, proceeds from trappers, and camp fees, etc.). The Commission may also levy hunting or recreational fees as it deems necessary.

(5) No purchases shall be made without the approval of a simple Commission majority at a meeting, except that emergency needs may be purchased with a called vote of the Commission; and subsequent notification by the Secretary to the Chairman.

(6) A financial statement shall be presented at each Commission meeting by the person so designated to maintain such records.

As required by LA R.S. 39:1303, the Commission is also required to adopt an annual budget. Moneys held in CD accounts are not included in the 2014 Commission budget as tabulated below:

2016 COMMISSION BUDGET

Start Balance $115,301.14
Revenues
Leases $20,932.50
Interest $100.00
Alligator Eggs $75,000
Alligator Tags $7,575.83
Total Revenue $103,608.33
Expenses
Office $5,000.00
Rent $4,200.00
Salary $7,700.00
IRS $1,192.86
Advertisements $900.00
Publications $1,200.00
Restoration Projects $230,000.00
Total Expenses

$250,192.86
End Balance $-31,283.39

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