Chattahoochee Technical College, Marietta, Georgia, financial statements for the fiscal year ended 2015 June 30

CHATTAHOOCHEE TECHNICAL COLLEGE
MARIETTA, GEORGIA
FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2015
Unit of the Technical College System of Georgia

CHATTAHOOCHEE TECHNICAL COLLEGE - TABLE OF CONTENTS -
COMPILATION LETTER BASIC FINANCIAL STATEMENTS
EXHIBITS A STATEMENT OF NET POSITION B STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION C STATEMENT OF CASH FLOWS

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BASIC FINANCIAL STATEMENTS

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Greg S. Griffin
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS AND ACCOUNTS
EDUCATION AUDIT DIVISION
270 Washington Street, S.W., Suite 1-156 Atlanta, Georgia 30334-8400
Kristina A. Turner
DIRECTOR (404)657-4352
March 31, 2016

Members of the State Board of the Technical College System of Georgia Members of the Local Board of Directors
and Honorable Ron Newcomb, President Chattahoochee Technical College
Ladies and Gentlemen:
Management is responsible for the accompanying financial statements of Chattahoochee Technical College, a unit of the Technical College System of Georgia, which comprise the Statement of Net Position as of June 30, 2015, and the related Statement of Changes in Revenues, Expenditures, and Net Position, and Statement of Cash Flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements.
Respectfully submitted,

Greg S. Griffin State Auditor

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CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF NET POSITION - (GAAP BASIS)
JUNE 30, 2015
ASSETS
Current Assets Cash and Cash Equivalents Accounts Receivable, Net Federal Financial Assistance Other Prepaid Items
Total Current Assets
Noncurrent Assets Capital Assets, Net
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Related to Defined Benefit Pension Plans
LIABILITIES
Current Liabilities Accounts Payable Salaries Payable Advances Funds Held for Others Capital Leases Compensated Absences
Total Current Liabilities
Noncurrent Liabilities Capital Leases Compensated Absences Net Pension Liability
Total Noncurrent Liabilities
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Related to Defined Benefit Pension Plans
NET POSITION
Net Investment in Capital Assets Restricted
Expendable Unrestricted (Deficit)
Total Net Position

EXHIBIT "A"
$ 7,781,538.71 1,476,380.65 6,683,540.13 80,189.87
16,021,649.36
82,124,825.77 98,146,475.13
3,546,402.77
1,263,328.98 109,398.02
6,702,322.34 1,237,600.77
14,293.27 1,203,119.30 10,530,062.68
34,084.41 994,772.31 29,844,060.00 30,872,916.72 41,402,979.40
10,162,674.00
82,076,448.09 81,018.07
-32,030,241.66
$ 50,127,224.50

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CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION - (GAAP BASIS)
YEAR ENDED JUNE 30, 2015

EXHIBIT "B"

OPERATING REVENUES
Student Tuition and Fees Less: Scholarship Allowances
Grants and Contracts Federal
Rents and Royalties Sales and Services Other Operating Revenues
Total Operating Revenues
OPERATING EXPENSES
Salaries Benefits Travel Scholarships and Fellowships Utilities Supplies and Other Services Depreciation
Total Operating Expenses
Operating Loss
NONOPERATING REVENUES (EXPENSES)
State Appropriations Grants and Contracts
Revenues Federal Local
Expenses Gifts Interest and Other Investment Income Interest Expense (Capital Assets) Other Nonoperating Expenses
Net Nonoperating Revenues
Loss Before Other Revenues, Expenses, Gains, or Losses
Capital Grants and Gifts State Local Loss on Disposal of Capital Assets Special Items
Total Other Revenues, Expenses, Gains, or Losses
Decrease in Net Position
Net Position - Beginning of Year (Restated)
Net Position - End of Year

$ 24,570,456.02 -6,360,742.38
121,742.00 118,273.00 2,154,312.35
19,887.49
20,623,928.48
26,414,143.53 9,821,952.82 156,252.50 6,629,565.08 2,252,139.15 7,682,163.60 3,242,604.57
56,198,821.25
-35,574,892.77
20,460,009.30
14,624,699.38 1,210,813.12 -827,327.62 913,143.22 11,469.16 -7,801.80 -84,005.00
36,300,999.76
726,106.99
4,469,053.36 2,598,621.00
-8,668.95 510.43
7,059,515.84
7,785,622.83
42,341,601.67
$ 50,127,224.50

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CHATTAHOOCHEE TECHNICAL COLLEGE STATEMENT OF CASH FLOWS - (GAAP BASIS)
YEAR ENDED JUNE 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES Tuition and Fees Grants and Contracts Sales and Services of Educational Departments Payments to Suppliers Payments to Employees Payments for Scholarships and Fellowships Other Receipts, net
Net Cash Used by Operating Activities
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES State Appropriations Agency Funds Transactions Gifts and Grants Received for Other than Capital Purposes Other Nonoperating Receipts
Net Cash Flows Provided by Noncapital Financing Activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Capital Grants and Gifts Received Purchases of Capital Assets Principal Paid on Capital Debt Interest Paid on Capital Debt
Net Cash Used by Capital and Related Financing Activities
CASH FLOWS FROM INVESTING ACTIVITIES Earnings on Investments
Net Increase in Cash
Cash and Cash Equivalents - Beginning of Year
Cash and Cash Equivalents - End of Year
RECONCILIATION OF OPERATING LOSS TO NET CASH USED BY OPERATING ACTIVITIES:
Operating Loss Adjustments to Reconcile Operating Income to Net Cash
Used by Operating Activities Depreciation Expense Change in Assets and Liabilities: Accounts Receivable, Net Prepaid Items Salaries Payable Accounts Payable Unearned Revenue Compensated Absences Change in Deferred Inflows/Outflows of Resources: Deferred Inflows of Resources Deferred Outflows of Resources Net Pension Liability
Net Cash Used by Operating Activities
NONCASH ACTIVITY Gift of Capital Assets Reducing Proceeds of Capital Grants and Gifts
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EXHIBIT "C"
$ 17,521,751.60 689,584.59
2,154,312.35 -20,940,082.25 -26,437,858.75
-6,629,565.08 138,160.49
-33,503,697.05
20,460,009.30 283,254.19
15,921,328.10 -84,005.00
36,580,586.59
244,126.98 -1,926,436.79
-20,182.20 -7,801.80
-1,710,293.81
11,469.16 1,378,064.89 6,403,473.82
$ 7,781,538.71
$ -35,574,892.77
3,242,604.57 134,615.60 47,003.55 16,046.47 676,879.04 -254,735.05 -39,761.69
10,162,674.00 -433,719.77
-11,480,411.00
$ -33,503,697.05
$ 6,823,547.38