East Baton Rouge Mortgage Finance Authority - Financial Statements for the Year Ended December 31, 1998

Sep 14, 2026

Uploaded by Mason

Independent auditors’ report covering the East Baton Rouge Mortgage Finance Authority financial statements for the year ended December 31, 1998. Includes audits of individual program and unrestricted fund balance sheets, related statements of revenues, expenses, changes in fund balances (deficits), and cash flows. Addresses an accounting method change for investments effective January 1, 1998, and provides required discussion on year 2000 supplementary information and related audit limitations, dated June 1, 1999.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages30

Reading Time1 h 16 min

AccessFree to download

INDEPENDENT AUDITORS' REPORT

To the Board of Trustees

Opinion on the Financial Statements

Accounting Change for Investments

Year 2000 Supplementary Information

Compliance and Internal Control

ASSETS

CASH AND CASH EQUIVALENTS

GUARANTEED INVESTMENT AGREEMENTS

U.S. GOVERNMENT SECURITIES

MORTGAGE-BACKED SECURITIES

MORTGAGE LOANS RECEIVABLE

DEFERRED FINANCING COSTS

DOWNPAYMENT AND AUTHORITY

ASSISTANCE PROGRAMS

INTERPROGRAM RECEIVABLE (PAYABLE)

PREPAID IN

30 22 0:21 0FFICIAL FIL.E COPY D0 NOT SEND OUT (Xerox necessary copies from this copy and PLACE BACK in ILE) # EAST BATON ROUGE MORTGAGEFINANCE AUTHORITY Financial Statements for the Year EndedDecember 31,1998 and SupplementaryInformation and Independent Auditors'Report Independent Auditors'Report on Compliance and on(nternal Control Over Financial Reporting BasedUpon the Audit Performed In Accordance WithGovernment Auditing Standards Under provisions of siate lav,thisreport is a public documen. Acopy of the report has been submit-ted to the audiied,or reviewed,entityand other appropriate publicofficials.The report is availcble forpublic inspection at the BatonRougc office of the LegislativeAudi.tor and,where appropriate,at theoffice of the parish clerk of court. Release Date. -14-9 INDEPENDENT AUDITORS'REPORT To the Board of Trustecs of theEast Baton Rougc Mortgage Finance Authority We have audited the accompanying individual program and unrestricted fund balance shects of thc EastBaton Rouge Mortgagc Finance Authority (the Authority)as of December 31,1998,and the relatedindividual statements of revenues,expenses and changes in fund balances (deficits)and cash flows for theyear then ended.These financial statemcnts are the responsibility of thc Authority's managcment.Ourrcsponsibility is to express an opinion on these financial statements based on our audit. We conducted our audits in accordance with generally accepted auditing standards and GovernmentAuditing Standards.Those standards rcquire that we plan and perform the audit to obtain reasonableassurance about whcther the financial statements are free of material misstatement.An audit includcscxamining,on a test basis,evidence supporting the amounts and disclosures in the financial statcments.Anaudit also includes assessing the accounting principlcs used and significant estimates made by management,as well as evaluating the ovcrall financial statement presentation.We believe that our audits providc areasonablc basis for our opinion. In our opinion,such financial statements present fairly,in all material respects,the financial position of eachof the individual programs and the unrestricted fund of the Authority at Deccmber 31,1998,and thcirrevenues,cxpenses and changes in fund balances(deficits)and their cash flows for the year then cnded inconiformity with gcncrally acccpted accounting principlcs. As discussed in Note 2 to the financial statements,the Authority changed its method of accounting forinvestmcnts to conform with Statement of Governmental Accounting Standards Board No.31 effectivcJanuary 1,1998. The year 2000 supplemcntary information on page 24 is not a required part of the basic financial statemcnts,but is supplementary information required by the Governmental Accounting Standards Board,and we didnot audit and do not express an opinion on such information.Further,we were unablc to apply to theinformation certain procedures prescribcd by professional standards because of the unprecedented nature ofthe ycar 2000 issue and its effects,and the fact that authoritative measurement criteria regarding the statusof remcdiation efforts have not been established.In addition,we do not providc assurance that thc Authorityis or will become year 2000 compliant,that the Authority's year 2000 remediation efforts will bc successfulin whole or in part,or that parties with which the Authority does business are or will become year 2000compliant. In accordance with Government Auditing Standards,we have also issued a report dated June 1,1999 on ourconsideration of the Authority's compliance with laws and regulations and on internal control over financialreporting. Deloitte June 1,1999 Deloitte Touche Tohmatsu ## EAST BATON ROUGE MORTGAGE FINANCE AUTHORITY | 1979
Program | 1984
Program | 1985
Program | 1987
Program | 1988
C&D
Program | 1988
E&F
Program | MRC

FAQs

What period do the audited financial statements cover?

The audited financial statements cover the year ended December 31, 1998.

What statements are included in the audit?

The audit includes individual program and unrestricted fund balance sheets, related statements of revenues, expenses, changes in fund balances (deficits), and cash flows.

How did the Authority’s accounting for investments change in 1998?

The Authority changed its accounting method for investments to conform with Statement of Governmental Accounting Standards Board No. 31, effective January 1, 1998.

Sep 14, 2026

Uploaded by Mason