Franklin Parish Assessor’s office assets exceeded liabilities by some $1.5 million, according to an audit report released by the Louisiana Legislative Auditor.
Additionally, no findings were reported in the audit which was prepared by certified public accountant firm Mary Jo Finley Inc of West Monroe.
“The auditor’s report expresses an unmodified opinion on the annual financial statements of the Franklin Parish Assessor,” according to the audit report. “No instances of noncompliance material to the financial statements of the Franklin Parish Assessor were disclosed during the audit. No significant deficiencies relating to the audit of the financial statements are reported in the Independent Auditor’s Report on Internal Control.”
Assets totaled $3,073,459 for the year ending Dec. 31, 2018 with liabilities at $1,311,916, according to the auditor report.
Franklin Parish Assessor’s office received $744,322 in revenues from ad valorem taxes, according to the audit report. Additionally, it received $34,765 in state grant - state revenue sharing, $20,501 in interest earnings from money and property, $52,762 in local intergovernmental revenue and $3,029 in other revenue.
The Assessor’s office spent $580,038 in personnel services and $45,944 in operating services, according to the audit report. Other expenditures included $106,126 in travel and other charges, $18,699 in materials and supplies and $9,758 in operating services.
Franklin Parish Assessor Rod Elrod has six active employees and eight inactive employees or beneficiaries currently receiving benefit payments, according to the audit report.
Franklin Parish Assessor’s investment in capital assets for its governmental activities amounts to $101,146 which includes furniture and equipment, according to the audit report.
“Approximately, 7 percent of the Franklin Parish Assessor’s net position reflects its investment in capital assets,” according to the audit report.
The Franklin Parish Assessor’s office recorded six active employees with eight inactive employees or beneficiaries currently receiving benefit payments, according to the audit.
The list of top 10 principal taxpayers found in the audit report were dominated by pipeline companies. The 10 companies made up 35 percent of total taxes and paid a total of $48,761,000 in taxes for the year.
Tennessee Gas Pipeline topped the list and paid $12,957,000 in taxes for the year.
Perryville Gas Storage was second and paid $11,680,000. Regency Intrastate was third at $8,790,000, followed by ETC Tiger Pipeline, LLC at $4,265,000.
Entergy Louisiana, LLC paid $2,899,000 and Columbia Gulf Transmission paid $1,889,000. The last pipeline company on the list was American Midstream, Inc. and paid in $1,510,000 in taxes.
Winnsboro State Bank at $1,497,000, Franklin State Bank at $1,483,000 and Northeast Louisiana Power Coop at $1,483,000 finished the list.