HANCOCK COUNTY TABLE OF CONTENTS FINANCIAL SECTION_part2 docx

8
HANCOCK COUNTY Exhibit B
Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
All Governmental Fund Types and Discretely Presented Component Units
For the Year Ended September 30, 1995
Totals Totals
Governmental Memorandum Memorandum
Fund Types Only Only
Special Debt Capital Primary Component Reporting
General Revenue Service Projects Government Units Entity
Revenues
Property taxes $ 3,075,298 2,618,276 846,424 6,539,998 215,592 6,755,590
Licenses, commissions and
other revenue 344,104 413,625 757,729 757,729
Fines and forfeitures 460,548 29,548 490,096 490,096
Intergovernmental revenues:
Federal sources 56,490 201,047 257,537 1,844,844 2,102,381
State and local sources 2,309,292 2,789,671 5,098,963 273,530 5,372,493
Charges for services 937,623 592,745 1,530,368 402,161 1,932,529
Use of money and property 311,786 112,554 32,726 457,066 14,506 471,572
Miscellaneous revenues 107,520 77,059 59 184,638 11,349 195,987
Total Revenues 7,602,661 6,834,525 879,209 0 15,316,395 2,761,982 18,078,377
Expenditures
Current:
General government 2,469,984 444,292 2,914,276 2,914,276
Public safety 2,065,892 880,543 2,946,435 294,863 3,241,298
Public works 1,744,085 3,756,013 5,500,098 2,373,646 7,873,744
Health & welfare 482,569 482,569 320,995 803,564
Culture & recreation 250,558 757,722 1,008,280 1,008,280
Conservation of natural resources 72,713 72,713 72,713
Economic development

and assistance 101,495 101,495 101,495
Capital projects 35,355 461,077 496,432 496,432
Debt service:
Principal retirement 191,000 302,468 335,000 828,468 828,468
Interest and fiscal charges 21,474 118,616 264,106 404,196 404,196
Total Expenditures 7,435,125 6,720,731 599,106 0 14,754,962 2,989,504 17,744,466
Excess of Revenues over
(under) Expenditures 167,536 113,794 280,103 0 561,433 (227,522) 333,911
Other Financing Sources (Uses)
Proceeds of other debt 322,921 322,921 322,921
Insurance recoveries 7,898 24,398 32,296 32,296
Operating transfers in 420,800 4,055 424,855 184,555 609,410
Operating transfers out (420,800) (4,055) (424,855) (424,855)
Operating transfers from
primary government 119,553 119,553
Operating transfers to
component units (119,553) (119,553) (119,553)
Total Other Financing
Sources (Uses) (532,455) 768,119 0 0 235,664 304,108 539,772
Excess of Revenues and Other
Sources over (under)
Expenditures and Other Uses (364,919) 881,913 280,103 0 797,097 76,586 873,683
9
Fund Balances
Beginning of year as previously
reported 4,773,337 3,429,730 888,510 (82,174) 9,009,403 9,009,403
Prior period adjustments:
Error corrections (7,500) (13,221) (20,721) (20,721)
Accounting change (60,884) 82,174 21,290 405,640 426,930
Beginning of year as restated 4,765,837 3,355,625 888,510 0 9,009,972 405,640 9,415,612

Residual equity transfers 12,094 12,094 12,094
End of year $ 4,413,012 4,237,538 1,168,613 0 9,819,163 482,226 10,301,389
The notes to the financial statements are an integral part of this statement.
10
HANCOCK COUNTY
Combined Statement of Revenues, Expenditures and Changes in Fund Balances -
Budget (Non-GAAP Budgetary Basis) and Actual - All Governmental Fund Types
For the Year Ended September 30, l995
General Special
Fund Revenue Funds
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Revenues
Property taxes $ 3,074,065 3,074,678 613 2,765,997 2,765,997
Licenses, commissions and
other revenue 328,151 341,731 13,580 413,042 413,303 261
Fines and forfeitures 447,660 433,468 (14,192) 28,656 29,548 892
Intergovernmental revenues:
Federal sources 101,126 84,921 (16,205)
State and local sources 2,600,666 2,602,015 1,349 2,341,824 2,341,824
Charges for services 889,054 912,623 23,569 575,009 595,355 20,346
Use of money and property 235,906 303,741 67,835 169,124 177,017 7,893
Miscellaneous revenues 93,255 100,480 7,225 138,623 167,285 28,662
Total Revenues 7,769,883 7,853,657 83,774 6,432,275 6,490,329 58,054
Expenditures
General government 2,828,202 2,858,520 (30,318) 508,720 508,720
Public safety 2,715,306 2,713,793 1,513 168,891 192,037 (23,146)
Public works 1,764,748 1,764,748 3,770,958 3,873,135 (102,177)
Health and welfare 544,017 544,017

Culture and recreation 295,618 285,624 9,994 396,932 396,932
Conservation of natural resources 73,780 73,780
Economic development and assistance 92,251 92,251
Capital projects 1,155,839 1,155,839
Debt service 76,280 76,280 346,304 220,998 125,306
Total Expenditures 8,390,202 8,409,013 (18,811) 6,347,644 6,347,661 (17)
Excess of Revenues over (under)
Expenditures (620,319) (555,356) 64,963 84,631 142,668 58,037
Other Financing Sources (Uses) 65,162 121,253 56,091 81,011 53,704 (27,307)
Excess of Revenues and Other
Sources over (under) Expenditures
and Other Uses (555,157) (434,103) 121,054 165,642 196,372 30,730
Fund Balances
Beginning of year 4,826,183 5,100,314 1,650,001 3,688,316
End of year $ 4,271,026 4,666,211 1,815,643 3,884,688
The notes to the financial statements are an integral part of this statement.
11
Exhibit C
Debt
Service Funds
Variance
Favorable
Budget Actual (Unfavorable)
845,506 845,506
30,735 32,726 1,991
59 59
876,300 878,291 1,991
599,106 599,106
599,106 599,106 0
277,194 279,185 1,991

64,412 0 (64,412)
341,606 279,185 (62,421)
874,955 874,960
1,216,561 1,154,145
12
HANCOCK COUNTY Exhibit D
Combined Statement of Revenues, Expenses and Changes in Retained Earnings
Proprietary Fund Type and Discretely Presented Component Units
For the Year Ended September 30, 1995
Total
Primary Memorandum
Government Only
Proprietary Component Reporting
Fund Type Units Entity
Operating Revenues
Charges for sales and services $ 23,795,060 23,795,060
Miscellaneous 369,107 369,107
Total Operating Revenues 0 24,164,167 24,164,167
Operating Expenses
Costs of sales 1,000,851 1,000,851
Personal services 8,136,894 8,136,894
Contractual services 3,526,068 3,526,068
Materials and supplies 2,996,606 2,996,606
Bad debt expense 3,491,127 3,491,127
Depreciation expense 1,124,075 1,124,075
Indirect administrative cost 396,571 396,571
Miscellaneous 306,024 306,024
Total Operating Expenses 0 20,978,216 20,978,216
Operating Income (Loss) 0 3,185,951 3,185,951
Nonoperating Revenues (Expenses)

Interest income 140,602 140,602
Interest expense (767,136) (767,136)
Donations 61,644 61,644
Operating grants 25,420 25,420
Other income (expense) 4,681 4,681
Net Nonoperating Revenues (Expenses) 0 (534,789) (534,789)
Net Income (Loss) Before Operating Transfers 0 2,651,162 2,651,162
Operating Transfers
Operating transfers out (184,555) (184,555)
Total Operating Transfers 0 (184,555) (184,555)
Net Income (Loss) For the Year 0 2,466,607 2,466,607
Retained Earnings
Beginning of year as previously reported 22,190 0 22,190
Accounting change (22,190) 5,044,322 5,022,132
Beginning of year as restated 0 5,044,322 5,044,322
End of year $ 0 7,510,929 7,510,929
The notes to the financial statements are an integral part of this statement.
13
HANCOCK COUNTY Exhibit E
Combined Statement of Cash Flows
Discretely Presented Proprietary Component Units
For the Year Ended September 30, 1995
Cash Flows From Operating Activities
Cash received from customers $ 20,508,808
Cash payments to suppliers for goods and services (6,988,923)
Cash payments to employees for services (8,442,922)
Other operating cash receipts 177,623
Other operating cash expenses (306,024)
Net Cash Provided (Used) by Operating Activities 4,948,562
Cash Flows From Noncapital Financing Activities

Cash received from other funds:
Operating transfers in 175,200
Cash paid to other funds:
Operating transfers out (359,755)
Unrestricted gifts 61,644
Net Cash Provided (Used) by Noncapital Financing Activities (122,911)
Cash Flows From Capital and Related Financing Activities
Proceeds of short-term debt 850,395
Capital grants received 50,000
Capital contributions from other funds 3,704
Proceeds from sale of fixed assets 14,700
Acquisition and construction of capital assets (2,113,664)
Principal paid on long-term debt (382,574)
Principal paid on short-term debt (890,395)
Principal paid on capital leases (148,682)
Interest expense paid (769,781)
Net Cash Provided (Used) by Capital and Related Financing Activities (3,386,297)
Cash Flows From Investing Activities
Proceeds from sale and maturities of
investment securities 500,000
Interest and dividends on investments 132,036
Purchase of investment securities (525,427)
(Increase) decrease in assets whose use is limited (1,280,969)
Net Cash Provided (Used) by Investing Activities (1,174,360)
Net Increase (Decrease) in Cash and Cash Equivalents 264,994
Cash and Cash Equivalents at Beginning of Year 1,441,451
Cash and Cash Equivalents at End of Year $ 1,706,445
14
Reconciliation of Operating Income to Net Cash Provided by Operating Activities
Operating income $ 3,185,951

Adjustments to reconcile operating income to net cash provided by operating
activities:
Depreciation and amortization expense 1,124,075
Provision for uncollectible accounts 3,302,662
Change in assets and liabilities:
(Increase) decrease in accounts receivable (3,207,352)
(Increase) decrease in due from other funds (1,758)
(Increase) decrease in prepaid expenses 55,667
(Increase) decrease in inventory (113,034)
Increase (decrease) in claims payable 1,979
Increase (decrease) in due to other funds 5,462
Increase (decrease) in accrued expenses 594,910
Total Adjustments 1,762,611
Net Cash Provided by Operating Activities $ 4,948,562
The notes to the financial statements are an integral part of this statement.
HANCOCK COUNTY
Notes to Financial Statements
For the Year Ended September 30, 1995
15
(1) Significant Accounting Policies.
A. Financial Reporting Entity.
Hancock County is a political subdivision of the State of Mississippi. The county is governed by an
elected five-member Board of Supervisors. Generally accepted accounting principles require Hancock
County to present these financial statements on the primary government and its component units which
have significant operational or financial relationships with the county.
State law pertaining to county government provides for the independent election of county officials.
The following officials are all part of the county legal entity and therefore are reported as part of the
general purpose financial statements.
• Board of Supervisors
• Chancery Clerk

• Circuit Clerk
• Justice Court Clerk
• Purchase Clerk
• Tax Assessor-Collector
• Sheriff
The component units discussed in Note 1(B) below are included in the county's general purpose
financial statements.
B. Individual Component Unit Disclosures.
Blended Component Unit
The Hancock County Improvement Corporation was incorporated as a nonprofit under Section 31-8-3,
Miss. Code Ann. (1972), which allows counties to enter into lease agreements with any corporation.
Although legally separate from the primary government, the corporation is so intertwined with the
primary government that it is, in substance, the same as the primary government. Therefore, the
corporation's balances and transactions are blended with the balances and transactions of the primary
government. The corporation's directors are comprised solely of the five members of the Board of
Supervisors. The Corporation produces a financial benefit (through its ability to incur debt without
including the debt within the limitation on bonded indebtedness established by law) and imposes a
financial burden on the primary government by obligating funds to repay the debt pursuant to a lease
agreement.
HANCOCK COUNTY
Notes to Financial Statements
For the Year Ended September 30, 1995
16
Discretely Presented Component Units
The component units columns in the combined financial statements include the financial data of the
following component units of the county. They are reported in a separate column to emphasize that
they are legally separate from the county. The majority of the members of the governing bodies of
these component units are appointed by the Hancock County Board of Supervisors.
• The county operates the following nine legally separate fire protection districts:
Bayside Park Fire Protection District

Clermont Harbor Lakeshore Fire Protection District
Diamondhead Fire Protection and Waste Disposal District
East Hancock Fire Protection District
Fenton Fire Protection District
Kiln Fire Protection District
Leetown Fire Protection District
West Hancock Fire Protection District
Post 58 Fire Protection District
The fire protection districts were created by the county under Section 19-5-151, Miss. Code
Ann. (1972), for the purpose of providing fire protection for the citizens of the respective
districts. The Board of Supervisors may, at its discretion, levy an ad valorem tax for the
support of the districts. The board did levy a four mill tax for each district during the fiscal
year.
• Hancock County Human Resource Agency was created by the county under Section 17-15-1,
Miss. Code Ann. (1972), for the purpose of administering programs conducted by community
action agencies, limited purpose agencies and related programs authorized by federal law. The
Board of Supervisors provided $119,533 in financial support to the entity during the fiscal year.
• Hancock Medical Center was created by the county with broad corporate powers under
Section 41-13-15, Miss. Code Ann. (1972), for the purpose of providing health care to the
citizens of Hancock County. The county holds title to the real property, has issued a
significant amount of general obligation bonds to provide support for the hospital's capital
facilities, has the power to impose its will on the hospital through its budget approval authority,
and is authorized to levy taxes for maintenance and operation of the hospital.
• Hancock County Port and Harbor Authority was created by the county under Section 59-9-1,
Miss. Code Ann. (1972), for the purpose of developing, constructing, maintaining and
operating harbors, seaports and industrial parks within the county. The county may impose its
will on the authority through its ability to modify or approve rate changes affecting revenues
and is authorized to levy taxes for support of the authority.
HANCOCK COUNTY
Notes to Financial Statements

For the Year Ended September 30, 1995
17
CONDENSED FINANCIAL STATEMENTS -
DISCRETELY PRESENTED COMPONENT UNITS
Balance Sheets
Governmental Proprietary
Funds Funds
Hancock Hancock
County Human Port and Port and Hancock
Fire Resource Harbor Harbor Medical
Districts Agency Commission Total Commission Center Total
Assets:
Current assets $ 25,905 49,082 652,228 727,215 3,187,391 8,287,826 11,475,217
Noncurrent assets 7,429 7,429 204,949 187,880 392,829
Property, plant and equipment 35,382 10,587,466 10,622,848 5,884,329 10,169,053 16,053,382
Total Assets $ 25,905 84,464 11,247,123 11,357,492 9,276,669 18,644,759 27,921,428
Liabilities:
Current liabilities $ 24,860 25,354 202,204 252,418 2,124,977 2,489,918 4,614,895
Notes payable 1,075,000 9,067,880 10,142,880
Capital lease payable 850,978 850,978
Bonds payable 191,077 191,077
Total Liabilities 24,860 25,354 202,204 252,418 3,391,054 12,408,776 15,799,830
Equity:
Investment in general
fixed assets 35,382 10,587,466 10,622,848
Contributed capital 4,560,669 4,560,669
Retained earnings 1,324,946 6,235,983 7,560,929
Fund balances 1,045 23,728 457,453 482,226
Total Equity 1,045 59,110 11,044,919 11,105,074 5,885,615 6,235,983 12,121,598
Total Liabilities and Equity $ 25,905 84,464 11,247,123 11,357,492 9,276,669 18,644,759 27,921,428

HANCOCK COUNTY
Notes to Financial Statements
For the Year Ended September 30, 1995
18
Governmental Funds
Statements of Revenues, Expenditures and Changes in Equity
Hancock
County Human Port and
Fire Resource Harbor
Districts Agency Commission Total
Revenues $ 295,008 222,988 2,243,986 2,761,982
Expenditures:
Operating and other 294,863 320,995 2,373,646 2,989,504
Excess of revenues over
(under) expenditures 145 (98,007) (129,660) (227,522)
Transfers from primary
government 119,553 119,553
Operating transfers-in from
proprietary operations 184,555 184,555
Net changes in equity 145 21,546 54,895 76,586
Equity - Beginning 0 0 0 0
Accounting change 900 2,182 402,558 405,640
Equity - Beginning restated 900 2,182 402,558 405,640
Equity - Ending $ 1,045 23,728 457,453 482,226
Proprietary Funds
Statements of Revenues, Expenses and Changes in Equity
Hancock
Port and Hancock
Harbor Medical
Commission Center Total

Operating revenues $ 1,881,043 22,283,124 24,164,167
Operating expenses:
Depreciation 240,810 883,265 1,124,075
Other 1,397,422 18,456,719 19,854,141
Operating income (loss) 242,811 2,943,140 3,185,951
Nonoperating grants 25,420 25,420
Other nonoperating
revenues (expenses) (64,624) (495,585) (560,209)
Operating transfers-out for
governmental operations (184,555) (184,555)
Net income for the year (6,368) 2,472,975 2,466,607