Parish Auditor Presents Healthy Financial Report

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By Pam Folse Contributing Writer

An independent auditor told the St. James Parish Council last Wednesday that Parish finances show a healthy net financial position.

Michael LeBlanc of Postlethwaite & Netterville said Parish assets exceed liabilities and that the net position for 2016 was $147,207,410, as compared to a net position of $138,995,701 for the year before.

LeBlanc said the excess funds are not available as cash, but are invested in infrastructure like bridges, roads and buildings.

In the two-hour meeting held in Vacherie, LeBlanc said the primary government net position has increased by $8,211,709. The governmental activities net position has increased $3,316,901 and business-type activities such as gas, water, the youth detention center, net position has increased $4,894,808.

 

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