THOMAS COUNTY PUBLIC LIDRARY SYSTEM - TABLE OF CONTENTS -

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION

EXHIDITS

GENERAL-PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

4

C

STA TEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL FUND

5

D

STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN FUND BALANCES

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

6

E

STA TEMENT OF CASH FLOWS

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

7

F NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

8

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

16

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

17

SCHEDULES

SCHEDULE OF REVENUE

1

STATE

18

2

FEDERAL

19

3 SCHEDULE OF SALARIES AND TRAVEL

20

FINANCIAL

USSELL W. HINTON
STATE AUDITOR (404) 6562174

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.w. Suite 214 Atlanta, Georgia 30334-8400
August 7, 2003

Honorable Sonny Perdue, Governor Members of the General Assembly Members of the Board of Regents of the University System of Georgia
and Director and Members of the Thomas County Public Library System Board
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have audited the accompanying general-purpose financial statements of the Thomas County Public Library System, a component unit of Thomas County, Georgia, as of and for the year ended June 30, 2002, as listed in the table of contents. These general-purpose financial statements are the responsibility ofthe Thomas County Public Library System's management. Our responsibility is to express an opinion on these general-purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general-purpose financial statements are free ofmaterial misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the general-purpose financial statements referred to above present fairly, in all material respects, the financial position of the Thomas County Public Library System as of June 30, 2002, and the results of its operations and the cash flows ofits nonexpendable trust fund for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

2002ARL-40

Our audit was performed for the purpose of forming an opinion on the general-purpose financial statements of the Thomas County Public Library System taken as a whole. The accompanying combining statements (Exhibits G and H) and the financial schedules (Schedules 1 through 3), as listed in the table ofcontents, are presented for purposes ofadditional analysis and are not a required part ofthe general-purpose financial statements ofthe Thomas County Public Library System. Such information has been subjected to the auditing procedures applied in the audit ofthe general-purpose financial statements and in our opinion, is fairly stated, in all material respects, in relation to the general-purpose financial statements taken as a whole.
A copy ofthis report has been filed as a permanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 506-24.
~ . ~ .---R-espectfully submitted, R sell W. Hinton State Auditor
RWH:gp 2002ARL-40

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

THOMAS COUNTY PUBLIC LIBRARY SYSTEM COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 3D, 2002

ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable
General Fixed Assets Equipment Inexhaustible Collections and Books

GOVERNMENTAL FUND TYPES

CAPITAL

GENERAL

PROJECTS

FUND

FUND

$ 271,845.38 $

1,020.63

50,000.00

49.50

1,527.45

Total Assets

$ 271,894.88 $====5=2=,5=4=8=.0=8=

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable
FUND EQUITY Investment in General Fixed Assets Fund Balances Reserved For Endowment Corpus Unreserved Undesignated Total Fund Equity
Total Liabilities and Fund Equity

$ 5.498.19 $

743.75

$ 266,396.69 $ $ 266,396.69 $

51,804.33 51,804.33

$ 271,894.88 $ ====5:2=,5=4=8=.0=8=

The notes to the general-purpose financial statements are an integral part of this statement. -2-

EXHIBIT"A"

FIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUND

$

956.32

5,005.66

ACCOUNT GROUP GENERAL FIXED ASSETS

TOTALS (Memorandum Only) JUNE 30, 2002 JUNE 30, 2001

$ 273,822.33 $ 226,950.55

55,005.66

55,005.66

1,576.95

3,949.93

$

869,704.00

869,704.00

842,981.00

0.00

0.00

0.00

$

5,961.98 $

869,704.00 $ 1,200,108.94 $ 1.128,887.14

$

6,241.94 $ _ _..2:.,t.0:;0.::4....:2,:3==-

$

869,704.00 $ 869,704.00 $ 842,981.00

$

5,000.00

5,000.00

5,000.00

961.98

319,163.00

278,901.91

$

5,961.98 $

869,704.00 $ 1,193,867.00 $ 1,126,882.91

$

5,961.98 $

869,704.00 $ 1,200,108.94 $ 1,128,887.14

-3-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 2002

EXHIBIT "B"

GENERAL FUND

CAPITAL PROJECTS
FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30, 2002 JUNE 30, 2001

REVENUES
State Funds Federal Funds Other Funds

$ 138,363.11 $ 29,213,50
134,231,97

5,198,00 $ 2,160,48

143,561.11 $ 29,213,50
136,392.45

137,067.79 1,650.00
134,690.78

Total Revenues EXPENDITURES

$ 301,808.58 $ 7,358,48 $ 309,167.06 $ 273,408,57

Current Public Services Technical Services Support Services Maintenance and Operation Information Technology
Capital Outlay
Total Expenditures

$ 506,890.22 $ 40,148,74
159,163,64 149,231.52 86,154,75

9,496.59 $ 10,467.75

$ 941,588.87 $ 19,964,34 $

516,386.81 $ 40,148.74
159,163.64 149,231,52 86,154.75
10,467.75
961,553,21 $

641,118.72 23,629.46
143,747.48 118,918.49 62,840.45
2,670.00
992,924,60

Excess of Revenues over (under) Expenditures

$ -639,780,29 $ -12,605.86 $ -652,386.15 $ -719,516.03

OTHER FINANCING SOURCES (USES)
Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)

$ 692,477.04 $ -5,269.75
$ 687,207.29 $

5,269,75 $ 5,269,75 $

697,746,79 $ -5,269.75
692,477,04 $

678,144.00 -1,335.00
676,809,00

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ 47,427,00 $ -7,336.11 $

FUND BALANCE JULY 1

218,969.69

59,140.44

40,090.89 $ 278,110.13

-42,707.03 320,817.16

FUND BALANCE JUNE 30

$ 266,396.69 $ 51,804.33 $ 318,201.02 $ 278,110.13

The notes to the general-purpose financial statements are an integral part of this statement. -4-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL GENERAL FUND
YEAR ENDED JUNE 30. 2002

EXHIBIT "C"

FUND BALANCE JUNE 30. 2002

$

100,861.51 $=~~2~6~6,;39;6..69.

The notes to the general-purpose financial statements are an integral part of this statement.
- 5-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM STATeMENT OF REVENl:JES, EXPENSES AND CHANGES IN FUND BALANCES
FIDUCIARY FUND lYRE -NciNEXPENDABLE TRUST FUND
YEAR E'NDED JUNE 30, 2002

EXHIBIT"D"

OPERATING REVENUES None Recorded
OPERATING EXPENSES None Recorded Operating Income (Loss)
NONOPERATING REVENUES Interest Earned Total Income (Loss)
FUND BALANCE JULY 1
FUND BALANCE JUNE 30

JARRELL TRUST FUND

TOTALS (Memorandum Only)
YEAR ENDED
JUNE 3D, 2002 JUNE 3D, 2001

$

0.00 $

0.00 $

0.00

$

0.00 $

0.00 $

0.00

$

0.00 $

0.00 $

0.00

170.20

$

170.20 $

5,791.78

170.20 170.20 $ 5,791.78.

282.93 282.93 5,508.85

$

5,961.98 $

5,961.98 $ =======5=,7==9=1=.7=8==

The notes to the general-purpose financial statements are an integral part of this statement. -6-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM STATEMENT OF CASH FLOWS
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 2002

EXHIBIT"E"

Cash Flows from Investing Activities: Interest Received on Investments
Net Increase/Decrease in Cash Cash and Cash Equivalents - July 1
Cash and Cash Equivalents - June 30

JARRELL TRUST FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30, 2002 JUNE 30, 2001

$

170.20 $

170.20 $

282.93

$

170.20 $

170.20 $

282.93

786.12

786.12

503.19

$

956.32 $

956.32 $==~78~ 6.1= 2

The notes to the general-purpose financial statements are an integral part of this statement. - 7-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

EXHIBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY
The Thomas County Public Library System (Library) operates pursuant to Official Code of Georgia Annotated Sections 20-5-40 through 20-5-59 to provide public library services with costs 'sharedby participating local governmental agencies and grants from the State of Georgia. The financial statements of the Library have been prepared in conformity with generally accepted accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the financial statements present all fund types and account groups of the Library.
The Library Board consists of nine members appointed by the Thomas County Board of Commissioners. The Library Board is without authority to determine the amount of its funding, except by submission ofbudget requests to local governmental units from which the Library receives support and to the State of Georgia for State and Federal funding. The Library Board has the power to designate management, the power to retain unreserved fund balances oflocal and other funds for continued operations and is the lowest level of oversight responsibility for the Library's operations.
The Thomas County Board of Commissioners appoints all of the Library's Board members and provides a substantial majority offunding for the operations ofthe Library, consequently, the Library is deemed to have a financial benefit/burden relationship with Thomas County, Georgia as defined by the Governmental Accounting Standards Board. Accordingly, the Thomas County Public Library System is considered to be a component unit of Thomas County, Georgia for financial reporting purposes.
FUND ACCOUNTING
The Library uses funds and an account group to report on its fmancial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources.
The general-purpose financial statements account for all State, Federal, Local and Other funds under control of the Library, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - used to account for all or most of the Library's general activities. Governmental Fund Types include:
-8-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

EXIDBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL FUND - the fund used to account for all financial resources of the Library except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a Library.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
FIDUCIARY FUND TYPE - the trust fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes:
NONEXPENDABLETRUSTFUND Jarrell Trust Fund - the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be used to provide Library books approved by the Library Board.
ACCOUNT GROUP
GENERAL FIXED ASSETS ACCOUNT GROUP - used to account for all general fixed assets acquired by the Library which includes equipment. Thomas County owns the land and buildings in the Library System.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities are generally included on the balance sheet. Operating statements ofthese funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds.
Nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Governmental funds are accounted for using the modified accrual basis ofaccounting under which:

- 9-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

EXHIBIT "Fit

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The Library considers receivables collected within sixty days after year-end to be, available and therefore susceptible to accrual. Nonexchange transactions, in which the Library gives (or receives) value without directly receiving (or giving) equal value in exchange, include intergovernmental grants and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
Expenditures are generally recognized when the related fund liability is incurred.
The accrual basis ofaccounting, as required by generally accepted accounting principles, is utilized by the nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
BUDGET
The Thomas County Public Library System's budget is a complete financial plan for the Library's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Library at the aggregate level. The budget for governmental funds was prepared in accordance with generally accepted accounting principles.
The budget process begins when the Library's administration prepares a tentative aggregated budget for the Board's approval. After approval ofthis tentative budget by the Board, copies are sent to the Thomas County Board of Commissioners. After funding approval is received from the Thomas County Board of Commissioners, the Board makes revisions as necessary and adopts the budget. The budget is then submitted to the Board of Regents ofthe University System of Georgia as a part of the Library's annual application for State aid. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year end.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of cash on hand and demand deposits in authorized financial institutions. Georgia Laws authorize the Library to deposit its funds in one or more solvent banks or insured Federal savings and loan associations.

- 10-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

EXHIBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Library in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase of one year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Library to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(I) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and
(8) Obligations of other political subdivisions of the State of Georgia.
RECEIVABLES
Receivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed, allotted funds from participating local governments, and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general-purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible . receivables.

- 11 -

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

EXHIBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL FIXED ASSETS
General fixed assets purchased, including capital outlay costs, are recorded as expenditures in the various funds at the time of purchase. All purchased general fixed assets are valued at cost where historical records are available and at estimated historical cost where no historical records exist. Donated general fixed assets are recorded at fair market value as ofthe date donated. Disposals are deleted at recorded cost. No depreciation has been provided on General Fixed Assets. The cost of normal maintenance and repairs that do not add to the value of the assets or materially extend the useful lives ofthe assets is not capitalized. The values of inexhaustible collections and books at the Library are not readily determinable, therefore, the Library has not capitalized them.
INTERFUND TRANSACTIONS
The Library has the following types of interfund transactions:
Reimbursements ofexpenditures/expenses initially made from a fund that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed.
Operating transfers are recorded for all interfund transactions other than reimbursements.
MEMORANDUM ONLY - TOTAL COLUMNS
Total columns on the general-purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results ofoperations or cash flows in conformity with generally accepted accounting principles, nor is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Note 2: DEPOSITS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum ofmoney which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. OCGA Section 45..,8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case ofoperating funds placed in demand deposit checking accounts.
- 12 -

THOMAS COUNTY PUBLIC LffiRARY SYSTEM

EXIllBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note 2: DEPOSITS
Acceptable security for deposits consists of anyone of or any combination of the following:
(I) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds ofdevelopment authorities created by the laws ofthe State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 2002, the bank balances were $347,651.41. The amounts ofthe total bank balances are classified into three categories of credit risk:
Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Library,or by the Library's agent in the Library's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Library's name.
Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Library's name.)
The Library's deposits are classified by risk category at June 30, 2002, as follows:

- 13 -

THOMAS COUNTY PUBLIC LffiRARY SYSTEM

EXHIBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note 2: DEPOSITS

Risk Category

Bank Balance

1

$ 156,691.01

2

190,960.40

3

0.00

Total

$ 347.651.41

Note 3: GENERAL FIXED ASSETS

A summary of changes in the General Fixed Assets Account Group during the fiscal year are as follows:

Equipment

Balance July 1,2001

$ 842,981.00

Additions

28,952.00

Deductions

2,229.00

Balance June 30, 2002

$ 869.704.00

Note 4: RISK MANAGEMENT

The Library is exposed to various risks ofloss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees and acts of God.

The Library has obtained commercial insurance for risk ofloss associated with torts, assets, errors or omissions and acts of God. However, the error or omissions policy excludes' coverage for discrimination. The Library has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Library's insurance coverage in any ofthe past three years.

The Library participates in the Association County Commissioners ofGeorgia-SelfInsured Workers' Compensation Fund, a public entity risk pool organized on July 1, 1982 to develop, implement and administer a program of workers' compensation self-insurance for its member organizations. The Library pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with County Reinsurance Limited to provide coverage for potential losses by the Fund in excess of$450,OqO.00 loss per occurrence, up to $2,000,000.00.

- 14-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM

EXHIBIT "F"

NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS

JUNE 30, 2002

Note 4: RISK MANAGEMENT

The Library has purchased a surety bond to provide additional insurance coverage as follows:

Position Covered

Amount

All Employees

$ 50,000.00

Note 5: RETIREMENT PLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)

TRS PLAN DESCRIPTION Substantially all librarians and clerical personnel employed by regional and county libraries are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts.

TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Library who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Library makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 9.24% and employer contributions for the current fiscal year and the preceding two fiscal years are as follows:

Fiscal Year

Percentage Contributed

Required Contribution

2002 2001 2000

100% 100% 100%

$ 32,122.68 $ 36,633.09 $ 37,744.17

- 15 -

THOMAS.COUNTY PUBlIC,L1BRARY SYSTEM . cOMslf;f1NGBAL.ANCE SHEET. " eApITAL'PROJECTSFUND . Jl!it\fE30. 2002

EXHIBIT"G"

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

. REGULAR.

GEORGIASTATE FINANCING AND
INVESTMENT COMMISSION

TOTALS JUNE 30,.2002 JUNE30, 200.1

$ 1,020.63 $

0.00 $

1,020.63 $

6,525.51

50,000.00

50,000.00

50,000.00

1,527.45

3,949.93

Total Assets

$ 52,548.08 $

0.00 $

52,548.08 $ ===60=,4~75~.44=

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable "
Total Liabilities .
FUND EQUITY
Fund Balance Unreserved' Undesignated

$-~74= 3.7~ 5

$

743.75

. :51,804.33 $~

Total Liabilitiesand Fund'Equity

$ 52,548.08 $

$

1,335.00

$

743.75 $

1,335.00

= 0.0~ 0

51,804.33

59,140.44

========== 0.00 $

52,548.08 $

60.475.441

See notes to the general-purpose financial statements.

-16-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 2002

EXHIBIT "H"

See notes to the general-purpose financial statements.

- 17-

THOMAS COUNTY PUBLIC L1BRARY,SYSTEM SCHEDULE OFS:tATE REVENUE YEAR ENDED,jUNE 30, 2002

SCHEDULE "1"

AGENCY/FUNDING
GRANTS Board of Regents of the University System of Georgia Office of Public Library Services Salaries Travel Library Materials Maintenance and Operation
Georgia State Financing and Investment Commission Reimbursement on Construction Projects

GOVERNMENTAL

FUND TYPES

CAPITAL

GENERAL

PROJECTS

FUND

FUND

TOTAL

$ 85,903,89 2,800,00
25,049,22 24,610,00

$ 85,903,89 2,800.00
25,049.22 24,610.00

$

5,198.00

5,198.00

$ 138,363.11 $

5,198.00 $ 143,561.11

See notes to the general-purpose financial statements. - 18-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM SCHEDULE OF FEDERAL REVENUE YEAR ENDED JUNE 30. 2002
AGENCY/FUNDING GRANT Museum and Library Services, Institute of Through Board of Regents of the University System of Georgia Library Services and Technology Act State Library Program

SCHEDULE "2"
GOVERNMENTAL FUND TYPE GENERAL FUND
29,213.50

See notes to the general-purpose financial statements.

. .-

- 19-

THOMAS COUNTY PUBLIC LIBRARY SYSTEM SCHEDULE OF SALARIES AND TRAVEL YEAR ENDED JUNE 30, 2002 .

SCHEDULE "3"

NAME
Bishop, Beckwith, Bozeman, Brooks, Cook, Crawford, Depew, Depew, Dewell, Floyd, Goodin, Hall, Harden, Hardman, Harlan, Hicks, Johnson, Kirkland, Lankford, Lewis, Love, Love, McCoy, McGuire, Mitchell, Moore, Murkerson, Murphy, Powers, Powers, Ramsey, Rauls, Sailors, Scott, Smith, Thompson, Tillinghast, Tillman, Upshaw, Vanier, Vowell, Walker, Wandera, Welch, Williams, Wilson, Wilson,

Amanda Betty Adam Dolly Susan R. Robert Betty Ralph Charles Rebecca Hilda Donald L. Jr. Brandy Barbara Shirley A. Michaela Kari Leyi A. Joanita F, Gloria J. Stacey L. Stephanie Trish A. Angela B. PeridaA. Joseph Amanda Gwen Daniel E. Nathaniel Deanna P. Jessica D. Laura C. Teretha Demareo R. Susan Nancy Alyce Synethia R. Charles E. Lara Sharon M. Andrea Mildred Donna Dwain Samuel Jr.

TITLE CATEGORY
Library Assistant Branch Assistant Children's Assistant Branch Manager Public Service Director Reference Assistant Mending Assistant Security/Maint. Assistant Maintenance Assistant Circulation Manager Bookkeeper Reference Assistant . Branch Assistant Children's Assistant Branch Assistant Branch Manager Circulation Assistant Systems Administrator Reference Assistant Bookkeeping Assistant Children's Assistant Branch Assistant Processing Assistant Automation Supervisor Reference Manager Reference Assistant Branch Assistant Reference Assistant Library Assistant Maintenance Assistant Children's Coordinator Branch Assistant Children's Assistant Public Service Librarian Children's Assistant Branch Assistant Director Circulation Assistant Library Assistant Circulation Assistant Processing Manager Circulation Assistant Reference Assistant Branch Manager Branch Manager Reference Assistant Maintenance Supervisor

Totals per Report See notes to the general-purpose fioa~cial statements.
- 20-

SALARIES

TRAVEL

$

6,318.79

4,926.60

2,802.26

8,786.99 $

4,439.32

14,373,20

2,916.00

12,118.40

2,971.50

21,840.00

25,063.92

364.00

8,604.40

8,631.14

140.06

5,712,00

15,615.84

9,181.90

5,475.96

14,863.27

3,204.25

3,237.49

18,303,84

19,557.09

22,567.92

17,970.00

468.95

5,398,27

30,25

793.38

21,840.00

511.50

10,274.00

13,088.28

3,126.75

1,955.75

59,584.56

3,964,75

2,226.62

8,451.69

17,487.18

11,526.54

13,187.86

2,044.00

9,548.00

1,949.50

18,363.84

210.84 852.74
33.32
121,24 19.04
147.84 186.04
6.72 75.38 11.20 119.72 46.76 21.00 525.54
113.40
28.00
2,304.38 '
52.64 142.80
49.28 44.24

$ 465,807.81 $=====5,=1=1=2.=1=2=