CLAYTON STATE COLLEGE - TABLE OF CONTENTS - INDEPENDENTACCOUNTANT'S COMBINEDREPORT ON REVIEW OF FINANCIAL STATEMENTS AND SUPPLEMENTARYINFORMATION EXHIBITS FINANCIAL STATEMENTS A COMBINED BALANCE SHEET ALL FUND GROUPS B COMBINED STATEMENT OF CHANGES IN FUND BALANCES ALL FUND GROUPS C STATEMENT OF CURRENT FUNDS REVENUES, EXF'ENDITURES, AND OTHER CHANGES D NOTES TO THE FINANCIAL STATEMENTS SUPPLEMENTARY INFORMATION E COMBINING BALANCE SHEET CURRENT FUNDS - UNRESTRICTED F COMBINING STATEMENT OF CHANGES IN FUND BALANCES CURRENT R M D S - UNRESTRICTED G COMBINING STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES, AND OTHER CHANGES UNRESTRICTED SCHEDULES SCHEDULES OF REVENUES AND EXPENDITURESCOMPARED TO BUDGET 1 RESIDENT INSTRUCTION 2 LOTTERY FOR EDUCATION SCHEDULES OF OPERATIONS 3 LOAN FUNDS 4 ENDOWMENT FUNDS 5 SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS AGENCY FUNDS 6 CASH AND CASH EQUlVALENTS 7 ACCOUNTS RECEIVABLE 8 CHANGES IN INVESTMENT IN PLANT 9 SCHEDULE OF FUND BALANCES CURRENT FUNDS AND PLANT FUNDS 10 SCHEDULE OF REVENUES CURRENT FUNDS SCHEDULES OF EXPENDITURES BY OBJECT 11 CURRENT FUNDS 12 PLANT FUNDS 13 RECONCILIATION OF SALARIES AND WAGES, AND TRAVEL CLAUDLE. VICKERS STATE AUDITOR 1404) W - 2 1 7 4 DEPARTMEONF TAUDITS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 September 8, 1995 Honorable Zell Miller, Governor Members of the General Assembly of Georgia Members of the Board of Regents of the University System of Georgia and Honorable Richard A. Skinner, President Clayton State College INDEPENDENT ACCOUNTANT'S COMBlNED REPORT ON REVIEW OF FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION Ladies and Gentlemen: We have reviewed the accompanying financial statements(Exhibits A through D) of Clayton State College as of and for the year ended June 30, 1995, in accordancewith Statements on Standards for Accountingand Review Servicesissued by the American Institute of Certified Public Accountants. All information included in these financial statements is the representationof the management of Clayton State College. A review consists principally of inquiries of College personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit in accordancewith generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. The financial statements for the year ended June 30,1994, were audited by us and we expressed a qualified opinion on such financialstatementsin our report dated November 3, 1994. Our opinion was qualified on the basis of the College's policies of recording encumbrances as expenditures and liabilities in the financial statements and not recording the liability and related expenditure for compensated absences in the current h d s . We have not performed procedures sufficientto comprise an audit since that date. Based on our review, with the exception of the matters described in the fifth and sixth paragraphs, we are not aware of any material modifications that should be made to the accompanying financial statements in order for them to be in conformitywith generally accepted accounting principles.