The audit report, for the fiscal year ending December 31, 2021, was presented during the Iberia Parish Council Meeting on June 22, 2022. The report was completed by independent auditors Kolder, Slaven, and Company. Their representative, Matthew Margaglio, was on hand to deliver the presentation to the council.

Mr. Margaglio reported an unmodified opinion on the financial statements, compliance with compliance requirements of major federal programs, no weaknesses in internal controls over financial reporting and no non-compliance with financial laws.

The audit reported approximately $33 million in total government revenue funds and $32 million in total governmental expenditures, with $51 million remaining in the governmental fund balance.

Revenues of the governmental funds comprised ad valorem taxes ($10.3 million), sales taxes ($8 million), coupled with federal and state grant awards ($10 million). Major governmental expenditures are comprised of Public Works (21%), Health & Welfare (17%), General Government (16%) and Capital Outlay (16%).

Specifically, I would like to highlight the report’s findings with regards to cash reported in the Parish’s General Fund.

This balance represents cash on hand to sustain Parish Government operations during emergency situations. It is important to note that on December 31, 2016, this amount totaled $460,014. Based on the average daily expenditures, this amount would have supported the operations for a mere 29 days.

Through the administration’s and council’s efforts to operate more efficiently, 2017 reported cash of $783,319 resulting in 58 days of operations available.

In just one year, a growth of 102% in days of sustainable operation was achieved. This growth continued to gain momentum over the next several years.

I am proud to report that the fiscal year 2021 ended with a Cash balance in the Parish’s General Fund of $2,521,595. This total translates into 192 days of operational capacity for Iberia Parish Government, a 570% increase from 2016. Outstanding growth in just 5 short years.

I am pleased to deliver these results, which are further evidence of improved financial stability for Iberia Parish Government during the past six years.

LARRY RICHARD serves as Iberia Parish President.