By JIM BUTLER

The Rapides Area Planning Commission annual audit reflects the precarious financial position the agency is in.

Auditors in their report on the year ending last June 30 note unfavorable operating results have eliminated a net financial position.

Additionally in the report shared with the agency in November and posted in the public record this month auditors raise the issue of whether, or how, RAPC will continue to function.

The report notes staffing and overhead structured based on anticipated grant funding and development activities that have not fully materialized create the financial squeeze.

In the current audit year $4.6 million revenue (General Fund income was $900,000 under budget) and $4.8 million expenses reduced net position to a negative $48,000. Four audits ago net position was $527,000.

According to the report circumstances “create uncertainty about ability to continue as a going concern.”

It notes management is developing plans to obtain additional support, revise fee structures and restructure expenses

“Ability to sustain operations is dependent on success of these plans,” auditors state, adding financial statements do not include any adjustments that might be necessary if RAPC is unable to continue.