2, Organizations for which the City of Sulphur does not appoint a voting majority but are fiscally dependent on the City of Sulphur.
3. Organizations for which the reporting entity financial statements could be misleading if data of the organization is not included because of the nature or significance of therelationship.
Based upon the application of these criteria, the following are component units that should be included in the City's reportingentity:
The City Court of Sulphur for Ward 4 The City Marshall of Sulphur for Ward 4
The West Calcasieu Airport Managing Board, a joint service agreement, and the Housing Authority of the City of Sulphur, a related organization, is also to be included in the City's reporting entity.
Only the primary government*s financial information is included in these financial statements. Information on how to obtain component unit financial statements can be obtained by contacting the Director of Finance for the City of Sulphur,Louisiana.
B. Basis of Presentation
The accompanying basic financial statements of the City of Sulphur, Louisiana have been prepared in conformity with governmental accounting principles generally accepted in the United States of America. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing governmental accounting and financial reporting principles.
GOVERNMENT-WIDE FINANCIAL STATEMENTS
The statement of net assets and the statement of activities display information about the City as a
whole. They governmental
include all funds of the reporting entity.
The statements distinguish between
through taxes, intergovernmental activities are financed in whole or
revenues, and other nonexchange revenues. Business type in part by fees charged to external parties for goods or services.
The statement of activities presents a comparison between direct expenses and program revenues for each of the functions of the City's governmentalactivities and business type activities. Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Program revenues include (a) fees and charges paid by the recipients of services offered by the City, and (b) grants and contributions that are restricted to meeting the operational or capital requirement of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as generalrevenues.