Audit report, state of Georgia, DeKalb College, Decatur, Georgia, year ended June 30, 1996

GA
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1g95 -96
STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT STATE OF GEORGIA DEKALB COLLEGE DECATUR, GEORGIA YEAR ENDED JUNE 30, 1996

DEKALB COLLEGE - TABLE OF CONTENTS -

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

EXHIBITS

FINANCIAL STATEMENTS

A COMBINED BALANCE SHEET

ALL FUND GROUPS

2

B COMBINED STATEMENT OF CHANGES IN FUND BALANCES

ALL FUND GROUPS

4

C STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES,

AND OTHER CHANGES

6

D NOTES TO THE FINANCIAL STATEMENTS

7

SUPPLEMENTARY INFORMATION

E COMBINING BALANCE SHEET

CURRENT FUNDS - UNRESTRICTED

22

F COMBINING STATEMENT OF CHANGES IN FUND BALANCES

CURRENT FUNDS - UNRESTRICTED

23

G COMBINING STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES,

AND OTHER CHANGES

UNRESTRICTED

25

SCHEDULES

SCHEDULES OF REVENUES AND EXPENDITURES COMPARED TO BUDGET

1

RESIDENT INSTRUCTION

26

2

LOTTERY FOR EDUCATION

28

SCHEDULES OF OPERATIONS

3

LOAN FUNDS

29

4

ENDOWMENT AND SIMILAR FUNDS

30

5 SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

AGENCY FUNDS

31

6 CASH AND CASH EQUIVALENTS

33

7 ACCOUNTS RECEIVABLE

34

8 CHANGES IN INVESTMENT IN PLANT

36

9 SCHEDULE OF FUND BALANCES

CURRENTFUNDSANDPLANTFUNDS

38

10 SCHEDULE OF REVENUES

CURRENT FUNDS

40

DEKALB COLLEGE - TABLE OF CONTENTS -

SUPPLEMENTARY INFORMATION

SCHEDULES

SCHEDULES OF EXPENDITURES BY OBJECT

11

CURRENT FUNDS

42

. 12

PLANT FUNDS

46

13 RECONCILIATION OF SALARIES AND WAGES, AND TRAVEL

47

CLAUDE L. VICKERS
STATE AUDITOR (404) 656-2174

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
December 18, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly of Georgia Members of the Board ofRegents of the University System of Georgia
and Honorable Jacquelyn M. Belcher, President DeKalb College
INDEPENDENT AUDITOR'S COMBINED REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
Ladies and Gentlemen:
We have audited the accompanying :financial statements (Exhibits A through D) ofDeKalb College as of and for the year ended June 30, 1996. These :financial statements are the responsibility of the College's management. Our responsibility is to express an opinion on these :financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the :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.
As described in Note 1 to the :financial statements, Georgia Law and State budgetary policy require the College to prepare its :financial statements on a basis which is not consistent with generally accepted accounting principles with respect to the recording of encumbrances as expenditures and liabilities. To conform with generally accepted accounting principles, encumbrances should be recorded as a reservation offund balance. The effects on the :financial statements of this departure from generally accepted accounting principles were not reasonably determinable, but are believed to be material.
As disclosed in Note 1 to the :financial statements, the College did not report the liability and related expenditure for compensated absences in the current funds as required by generally accepted accounting principles. Ifcompensated absences were reported, liabilities would be increased and fund balance would be
96ARL-62

decreased by $1,641,831.90 as of June 30, 1996, and the net change in fund balance for the year ended June 30, 1996, would be decreased by $248,849.15.
In our opinion, except for the effects on the financial statements ofthe matters discussed in the third and fourth paragraphs, the financial statements referred to above present fairly, in all material respects, the financial position ofDeKalb College as ofJune 30, 1996, and the changes in fund balances and the current operating funds revenues, expenditures, and other changes for the year then ended in conformity with generally accepted accounting principles.
Our audit was made for the purpose offorming an opinion on the financial statements taken as a whole. The accompanying supplementary information (Exhibits E through G and Schedules I through 13) is presented for purposes ofadditional analysis and is not a required part ofthe financial statements ofDeKalb College. Such information has been subjected to the auditing procedures applied in the audit ofthe financial statements and, in our opinion, except for the effects of the matters discussed in the third and fourth paragraphs, such information is fairly presented in all material respects in relation to the financial statements taken as a whole.
Resped submitted,
t7~~
Claude L. Vickers State Auditor
CLV:dt 96ARL-62

FINANCIAL STATEMENTS - 1-

DEKALB COLLEGE COMBINED BALANCE SHEET
ALL FUND GROUPS JUNE 30, 1996

ASSETS
Cash and Cash Equivalents Accounts Receivable Inventories Prepaid Items Investment in Plant
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities Accounts Payable Deferred Revenue Tuition and Fees Deposits Held in Custody for others Capital Lease Obligations
Total Liabilities
Fund Balances U. S. Government Grants Refundable Institutional Loans - Restricted Endowment Quasi-Endowment - Restricted Net Investment in Plant Restricted Unrestricted
Total Fund Balances
Total Liabilities and Fund Balances

CURRENT FUNDS UNRESTRICTED RESTRICTED

LOAN FUNDS

$ 2,527,954.27 $ 743,661.77 480,878.32 125,969.94

81,893.71 $ 47,468.28

63,097.43 2,875.26

$ 3,878,464.30 $ 129,361.99 $ _ _s5..,.9==7_2.,..6=9

$ 1,224,676.86 2,082,913.17

$ 31307,590.03

$

18,845.44

47,127.25

$ 129,361.99

$

570,874.27

$

5701874.27 $ 1291361.99 $

651972.69

$ 3,878,464.30 $ 129,361.99 $===6=5=,9..7...2......,69=

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

EXHIBIT"A"

ENDOWMENT AND SIMILAR
FUNDS

UNEXPENDED

PLANT FUNDS . RENEWALS AND REPLACEMENTS

INVESTMENT IN PLANT

AGENCY FUNDS

TOTAL (Memorandum
Only)

$

50,150.81 $ 1,986,774.35 $

777,769.87

$ 321,768.82 $ 5,809,409.26

101,796.76

10,158.60

905,960.67

480,878.32

125,969.94

- - - - - - $ 95,646,656.88

95,646,656.88

$

50,150.81 $ 2,088,571.11 $

777,769.87 $ 95,646,656.88 $ 331,927.42 $ 102,968,875.07

$ 1,088,355.40 $

$ 1,088,355.40 $

$

38,740.22

11,410.59

$ 1!000,215.71 $

$

50!150.81 $ 1!000,215.71 $

223,485.40

$

$ 223,485.40 $

195,387.96
195,387.96 $
'

$ 95,451,268.92 554!284.47 554,284.47 $ 95,4511268.92

223,822.91 $ 108,104.51 331,927.42 $

2,760,340.57
2,082,913.17 108,104.51 195,387.96
5,146,746.21

$

18,845.44

47,127.25

38,740.22

11,410.59

95,451,268.92

129,361.99

2! 125,374.45

$ 97,822,128.86

$

50,150.81 $ 2,088,571.11 $

777,769.87 $ 95,646,656.88 $ 331,927.42 $ 102,968,875.07

- 3-

DEKALB COLLEGE
COMBINED STATEMENT OF CHANGES IN FUND BALANCES
ALL FUND GROUPS YEAR ENDED JUNE 30, 1996

BMNUES AND QitlEB APDIIIQNS
Unrestricted Current Fund Revenues State Appropriations
Regular Major Repairs/Rehabilitation Funds Lotteiy Proceeds Federal Grants and Contracts State Grants and Contracts Local Grants and Contracts Private Gifts, Grants, and Contracts Investment Income Endowment Other Interest on Loans R~ble Adjustments Prior Years' Expenditures/Accounts Payable Prior Years' Checks Voided Expended for Plant Facilities Current Funds Plant Funds
Unexpended Renewals and Replacements Georgia State Financing and Investment Commission Other Additions Proceeds from Sale of Plant Assets
Total Revenues and Other Additions
EXPl;;NDITURES AND OTHER DEQUCTIONS
Educational and General Expenditures Auxiliaiy Enterprises Expenditures Indirect Costs Recovered Refunded to Grantors Remittances to the Board of Regents of the
University System of Georgia Prior Year's Unrestricted Fund Balance (Surplus)
Adjustments Prior Years' Revenues/Accounts Receivable
Loan Cancellations and Write-Offs Administrative and Collection Costs Expended for Plant Facilities
Capitalized Noncapitalized Disposals/Deletions/Adjustments
Total Expenditures and Other Deductions
TRANSFERS BETWEEN FUNDS
Nonmandatoiy Renewals and Replacements Unrestricted Local Funds To Loan Funds To Agency Funds
Total Transfers Between Funds
Net lncrease/(Decrease) for the Year
FUND BALANCES JULY 1, 1995
FUND BALANCES JUNE 30, 1996
The notes to the financial statements are an integral part of this statement.
. 4.

CURRENT FUNDS UNRESTRICTED RESTRICTED

LOAN
FUNDS

$ 56,696,691.04

$ 4,742,676.63 1,308,497.65 3,700.00 83,758.12
2,862.25 $
85,789.63 3,145.22

442.10 2,148.19

$ 56,785,625.89 $ 6,141,494.65 $

2,590.29

$ 54,947,647.93 $ 6,008,697.36 1,470,453.13 39,915.64 $

207.00

80,897.50 12,808.94

57,742.10 394.60

$ 56,511,807.50 $ 6,048,613.00 $

58,343.70

$

-9,025.64

$

12,711.68

$

-9,025.64

$

12,711.68

$

264,792.75 $

92,881.65 $ -43,041.73

306,081.52

36,480.34

109,014.42

$

570,874.27 $ 129,361.99 $

65,972.69

EXHIBIT"B"

ENDOWMENT AND SIMILAR
FUNDS

UNEXPENDED

PLANT FUNDS RENEWALS AND REPLACEMENTS

INVESTMENT IN PLANT

TOTAL (Memorandum
Only)

$

0.00

$ 56,696,691.04

$ 333,963.00 986,571.00 595,000.00

333,963.00

986,571.00

595,000.00

4,742,676.63

1,308,497.65

3,700.00

$

8,050.00

91,808.12

260,629.42 $

11,693.58

2,862.25 2n,16S.10
2,148.19

55.01

85,844.64 3,145.22

1,985,392.56 1,985,392.56

2,171,486.83 228,067.63
1,520,080.42

2,171,486.83 228,067.63
1,520,080.42

7,244.58

7,244.58

$

0.00 $ 2,183,408.00 $

11,748-.59 $ 5,913,077.44 $ 71,037,944.86

$

0.00

$ 60,956,345.29 1,470,453.13 39,915.64 207.00

$

0.52

80,898.02

$

500.00

13,308.94 57,742.10
394.60

2,171,486.83 11,921.00

228,067.63 $

540,071.11

2,399,554.46 11,921.00
540,071.11

$

0.00 $ 2,183,408.35 $

228,567.63 $ 540,071.11 $ 65,570,811.29

$

$ -12,711.68 -10,087.69

$ -22,799.37 $

$

0.00 $ -22,799.72 $

50,150.81 1,023,015.43

9,025.64

$

0.00

0.00 -10,087.69

9,025.64

$ -10,087.69

-207,793.40 $ 5,373,006.33 $ 5,457,045.88

762,077.87 90,078,262.59 92,365,082.98

$

50,150.81 $ 1,000,215.71 $

554,28-4.47 $ 95,451,268.92 $ 97,822,128.86

5

DEKALB COLLEGE STATEMENT OF CURRENT FUNDS REVENUES, EXPENDITURES,
AND OTHER CHANGES
YEAR ENDED JUNE 30, 1996

EXHIBIT"C"

REVENUES
State Appropriations Tuition and Fees Federal Grants and Contracts State Grants and Contracts Local Grants and Contracts Private Gifts, Grants, and Contracts Endowment Income Sales and Services of Educational Activities Sales and Services of Auxiliary Enterprises other Sources
Total Revenues
EXPENDITURES
Educational and General Instruction Academic Support Student Services Institutional Support Operation and Maintenance of Plant Scholarships and Fellowships
Auxiliary Enterprises Food Services Stores and Shops Intercollegiate Athletics other Service Units
Total Expenditures
OTHER TRANSFERS AND ADDITIONS/lDEDUCTIONS)
Excess of Restricted Receipts over Transfers to Revenues Transfers for Renewals and Replacements Prior Period Adjustments (Net) Remittances to the Board of Regents of the
University System of Georgia Prior Year's Unrestricted Fund Balance (Surplus)
Total other Transfers and Additions/(Deductions)

UNRESTRICTED RESTRICTED

TOTAL (Memorandum
Only)

$ 38,085,437.00

$ 38,085,437.00

15,474,533.15

15,474,533.15

39,915.64 $ 4,702,760.99 4,742,676.63

1,285,270.17 1,285,270.17

3,700.00

3,700.00

14,316.20

14,316.20

2,650.00

2,650.00

1,248,386.63

1,248,386.63

1,489,095.90

1,489,095.90

359,322.72

359,322.72

$ 56,696,691.04 $ 6,008,697.36 $ 62,705,388.40

$ 27,900,906.19 $ 30,564.88 $ 27,931,471.07

5,559,366.90

77,001.84 5,636,368.74

5,815,519.97

42,180.10 5,857,700.07

9,362,900.70

169,134.36 9,532,035.06

5,950,045.54

5,950,045.54

358,908.63 5,689,816.18 6,048,724.81

90,309.63 786,026.26 433,049.12 161,068.12

90,309.63 786,026.26 433,049.12 161,068.12

$ 56,418,101.06 $ 6,008,697.36 $ 62,426,798.42

$ 92,881.65 $ 92,881.65

$

-9,025.64

-9,025.64

76,125.91

76,125.91

-80,897.50

-80,897.50

$

-13,797.23 $ 92,881.65 $ 79,084.42

Net lncrease/(Decrease) in Fund Balances

$

264,792.75 $

92,881.65 $ 357,674.40

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

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXJilBIT "D"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
REPORTING ENTITY DeKalb College is one ofthirty-four (34) State supported member institutions of higher education in Georgia which comprise the University System of Georgia, an organizational unit of the State of Georgia. The accompanying financial statements reflect the operations ofDeKalb College as a separate reporting entity.
The Board ofRegents has constitutional authority to govern, control and manage the University System of Georgia. This authority includes but is not limited to the power to designate management, the ability to significantly influence operations, the authority to control institutions' budgets, the power to determine allotments of State funds to member institutions and the authority to prescribe accounting systems and administrative policies for member institutions. DeKalb College does not have authority to retain unexpended State funds (surplus) for any given fiscal year. Accordingly, DeKalb College is considered an organizational unit of the Board of Regents of the University System of Georgia reporting entity for financial reporting purposes because of the significance of its legal, operational, and financial relationships with the Board of Regents as defined in Section 2100 of the Governmental Accounting Standards Board Codification of Governmental Accounting and Financial Reporting Standards.
FUND ACCOUNTING In order to ensure observance oflimitations and restrictions placed on the use of the resources available to the College, the accounts ofthe College are maintained in accordance with the principles offund accounting. This is the procedure by which resources for various purposes are classified for accounting and reporting purposes into funds that are in accordance with activities or objectives specified. Separate accounts are maintained for each fund~ however, in the accompanying :financial statements, funds that have similar characteristics have been combined into fund groups. Accordingly, all financial transactions have been recorded and reported by fund group.
Within each fund group, the College's fund balance allocations and designations represent those portions of the fund balances that are reserved, restricted and/or designated for specific future use by legal covenants, State policies, or institutional policies.
Fund groups and funds presented in the accompanying financial statements are as follows:
CURRENT FUNDS
UNRESTRICTED - The fund used to account for those economic resources over which the College retains full control to use for purposes of performing the primary functions of the College, e.g., instruction, auxiliary enterprises, and student activities.
RESTRICTED - The fund used to record externally restricted funds which may only be utilized in accordance with the purposes established by their source. Restricted current funds are recorded as revenues and expenditures when expended for current operating purposes.

- 7-

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXIIlBIT "D"

NOTE I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
FUND ACCOUNTING
LOAN FUNDS
The fund used to account for resources which have been made available for financial loans to students.
.ENDOWMENT AND SIMILAR FUNDS
The fund used to account for endowment funds and quasi-endowment funds. Endowment funds are subject to the restrictions ofgift instruments requiring that the principal be invested in perpetuity and income only be utiliz.ed. While quasi-endowment funds have been established by the College for the same purposes as endowment funds, any portion ofquasi-endowment funds may be expended. Restricted quasi-endowment funds may be expended only for the purposes established by the source of such funds.
PLANT FUNDS
UNEXPENDED - The fund used to account for financial resources utilized to acquire or to construct physical properties for institutional purposes.
RENEWALS AND REPLACEMENTS - The fund used to account for resources set aside for the renewal and replacement ofinstitutional properties.
INVESTMENT IN PLANT - The fund which shows the total amounts representing the book value of all physical properties owned by the College. Net Investment in Plant is an equity account showing the total book value ofphysical properties belonging to the College less the amount of any indebtedness to others.
AGENCY FUNDS
The fund used to account for resources held by the College as custodian or fiscal agent for individual students, faculty, staff members, and organizations.
BASIS OF ACCOUNTING Except as otherwise disclosed in these notes, the financial statements are prepared on the modified accrual basis ofaccounting, which is materially the same as the accrual basis of accounting applicable to colleges and universities prescribed in the American Institute of Certified Public Accountants' audit guide reporting model. The modified accrual basis ofaccounting is defined as that method of accounting in which expenditures, other than accrued interest on general long-term debt, are recorded at the time liabilities are incurred and revenues are recorded when available and measurable to finance expenditures of the fiscal period.

- 8-

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT"D"

NOTE I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING Contractual obligations for goods and services which have not been received at the end ofthe fiscal year are recognized as expenditures and liabilities in the accompanying financial statements. This accounting practice causes expenditure-driven grant revenues to be accrued based, in part, on the unexecuted portion of contracts for goods and services. The recognition of encumbrances as expenditures and liabilities is in conformity with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, but is not consistent with generally accepted accounting principles, which provide for the recording of encumbrances as a reservation offund balance. Further, revenue recognition for expenditure-driven grants should be based upon expenditures determined in accordance with generally accepted accounting principles.
'
Compensated absences represent obligations of the College relating to employees' rights to receive compensation for future absences based upon services already rendered. This obligation relates only to vesting accumulated annual leave in which payment is probable and can be reasonably estimated. The compensated absences liability of $1,641,831.90 and the related current year expenditure of $248,849.15 have not been reported in the current funds as required by generally accepted accounting principles.
Prior period adjustments and certain other items are reported as additions to and deductions from fund balances of current funds in the accompanying financial statements. This presentation is in accordance with accounting practices prescribed or permitted by statutes and regulations of the State of Georgia, but differs from generally accepted accounting principles in that immat~rial adjustments should be reported as current period revenues and expenditures. The effect of this departure is deemed to be immaterial to the fair presentation of the financial statements.
To the extent that Current Funds and Plant Funds are used to finance plant assets, the amounts so provided are accounted for as expenditures. The balances shown on the Combined Balance Sheet as Net Investment in Plant reflect the accumulated expenditures made for plant facilities through Current Funds and Plant Funds and also include expenditures made for plant facilities expended by the Georgia State Financing and Investment Commission on behalf of the College. Donated fixed assets are recorded at fair market value on the date donated. Disposals are deleted at recorded values. No depreciation has been provided on physical plant and equipment.
It is the policy ofDeKalb College to record assets acquired through capital leases as additions to Investment in Plant when received at the total acquisition cost including interest. The liability for such leases at fiscal yearend is recorded in Investment in Plant including interest. This presentation differs from generally accepted accounting principles in that the assets and the related liability resulting from capital leases should be recorded in Investment in Plant at the inception of the agreement at the net present value ofthe future minimum lease payments, not to exceed the fair value of the leased property. The effect of this departure is deemed to be immaterial to the fair presentation of the financial statements.

- 9-

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXIilBIT "D"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF ACCOUNTING The Statement of Current Funds Revenues, Expenditures, and Other Changes is a statement of financial activities of current funds related to the current reporting period. It does not purport to present the results of operations or the net income or loss for the period as would a statement of income or a statement of revenues and expenses.

BUDGET The Board ofRegents of the University System of Georgia - Administrative Central Office receives State appropriation allotments for units ofthe University System of Georgia. The appropriated budget is adopted at the departmental level and represents appropriations provided by the Amended Appropriations Act of 19951996. The appropriated budget covers current funds and plant funds, except for Auxiliary Enterprises and Student Activities which are not subject to appropriation. The budget allocation and disbursement of these funds is made to the various organizational units by the Administrative Central Office. In addition, the organiz.ational units receive Federal funds and other funds directly and include these funds in the budget filed with the Administrative Central Office.

A comparison of anticipated funds available and budgeted expenditures by budget unit object class indicates that the following object class was overspent by the amount identified below:

Personal Services: Sponsored Operations

$ 1,248.82

This overexpenditure ofbudge.t constitutes a violation ofBoard ofRegents policy, but does not constitute a statutory violation of budget authority. Statutory violations of budget authority are reported at the departmental level.

CASH AND CASH EQUIVALENTS Cash and Cash Equivalents consist of petty cash, demand deposits, certificates of deposit and temporary investments in authorized financial institutions, and cash management pools that have the general characteristics ofdemand deposit accounts;

ACCOUNTS RECEIVABLE Accounts receivable consist ofreimbursements due from Federal, State, local, and private grants and contracts, and other receivables disclosed from information available. No provision has been made for an allowance for doubtful accounts within the accompanying financial statements.

INVENTORIES Inventories of consumable supplies are recorded on the consumption method and are valued at cost on the Combined Balance Sheet using the first-in, first-out method.

Inventories ofgoods for resale are valued at cost using the first-in, first-out method.

- 10 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT "D"

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
PREPAID ITEMS Prepaid items are payments made to vendors in advance of the receipt of goods and services that will benefit periods subsequent to the balance sheet date.
MEMORANDUM ONLY - TOTAL COLUMNS The total columns on the financial statements are captioned "Memorandum Only" because they do not represent consolidated :financial information and are presented only to facilitate financial analysis. The columns do not present information that reflects financial position or changes in financial position in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS
STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES Funds belonging to the State ofGeorgia cannot be placed in a depository paying interest longer than ten days without the depository providing a surety bond to the State. In lieu of a surety bond, the depository may pledge as collateral any one or more ofthe following securities as enumerated in the Official Code of Georgia Annotated Section 50-17-59:
{l) Bonds, bills, certificates of indebtedness, notes, or other direct obligations of the United States or ofthe State of Georgia.
(2) Bonds, bills, certificates ofindebtedness, notes, or other obligations of the counties or municipalities of the State of Georgia.
{3) Bonds ofany public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose.
(4) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia.
(5) Bonds, bills, certificates of indebtedness, notes, 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.
(6) Guarantee or insurance of accounts provided by the Federal Deposit Insurance Corporation.

- 11 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXIIlBIT "D"

NOTE 2: CUSTODIAL CREDIT RISKS OF CASH DEPOSITS AND INVESTMENTS

STATE OF GEORGIA COLLATERALIZATION STATUTES AND POLICIES As authorized in the Official Code of Georgia Annotated Section 50-17-53, the State Depository Board has adopted policies which allow agencies of the State of Georgia (which includes organizational units of the Board ofRegents of the University System of Georgia) the option of exempting demand deposits from the collateral requirements.

The treasurer ofthe Board ofRegents is responsible for all details relative to furnishing the required depository protection for all units ofthe University System of Georgia.

CATEGORIZATION OF DEPOSITS For purposes of analysis of custodial credit risk, cash deposits consist of all bank balances which include demand deposits and/or interest bearing accounts. The bank balances as of June 30, 1996, are categorized below in order to provide information about the extent to which such deposits are exposed to custodial credit risk:

Category 1 - Amounts covered by depository insurance or collateralized with securities (at market value) held by the-College or by its agent in the College's name.

Category 2 - Amounts collateralized with securities (at market value) held by the pledging financial institution's trust department or agent in the College's name.

Category 3 - Amounts collateralized with securities (at market value) held by the pledging financial institution, or by its trust department or agent but not in the College's name, and amounts uncollateralized.

Carrying Amount

Bank Balances

Risk Categories

2

3

Cash Deposits

S 3,641410 36 S 6 645 582 99 S 246 485 59 S 6399 097 40 $===0=00=

CATEGORIZATION OF INVESTMENTS At June 30, 1996, the canying amount and market value ofthe College's total investments was $2,125,398.90 and consisted entirely of funds in the State Investment Pool administered by the State of Georgia Office of Treasury and Fiscal Services which are not required to be categorized since the College did not own any specific identifiable securities in the pool.

- 12 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXIIlBIT "D"

NOTE 3: INVESTMENT IN PLANT

The following is a summary ofInvestment in Plant fixed assets as ofJune 30, 1996:

Land Buildings Improvements Other Than Buildings Eguipment Library Books and Collections
Total Investment in Plant

$ 4,220,775.73 67,756,631.46 3,865,954.22 10,439~694.21 9,363,601.26
$ 95,646,656.88

NOTE 4: OPERATING LEASES

DeKalb College has entered into certain agreements to lease buildings which are classified as operating leases (leases on assets not recorded on the balance sheet). These leases generally contain provisions that, at the expiration date ofthe original term ofthe lease, the College has the option of renewing the lease on a year-toyear basis. Future minimum lease payments for operating leases as of June 30, 1996, are listed below. Amounts are included only for multi-year leases and for cancellable leases for which an option to renew for the subsequent fiscal year has been exercised.

Fiscal Year Ending June 30

1997

$ 1,354,227.06

Expenditures for rental of buildings under operating leases for the year ended June 30, 1996, totaled $1,384,003.05.

NOTE 5: CAPITAL LEASES

DeKalb College acquires equipment through multi-year capital leases with varying terms and options. These agreements contain fiscal funding clauses in accordance with Official Code of Georgia Annotated Section 505-64 which prohibits the creation of a debt to the State of Georgia for the payment of any sums under such agreements beyond the fiscal year of execution if appropriated funds are not available. If renewal of such agreements is reasonably assured, however, capital leases requiring appropriation by the General Assembly of Georgia are considered noncancellable for financial reporting purposes.

As of June 30, 1996, future minimum lease payments under capital leases are as follows:

- 13 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT "D"

NOTE 5: CAPITAL LEASES

Fiscal Year Ending June 30

1997 1998 1999 2000

$ 90,005.04 57,078.60 24,152.16 24,152.16

Total Future Minimum Lease Payments

$ 195,387.96

NOTE 6: RISK MANAGEMENT

DeKalb College is a participant in the Board ofRegents of the University System of Georgia Health Benefits Plan, which is a self-insurance program of health and dental benefits for employees and retirees of the University System of Georgia. The College and participating employees and retirees pay premiums to the Health Benefits Plan for this health insurance coverage. The Health Benefits Plan is included in the audit report ofthe Board ofRegents ofthe University System of Georgia - Administrative Central Office. All units ofthe University System of Georgia share the risk of loss for. claims ofthe Health Benefits Plan. The Health Benefits Plan is considered a self-sustaining risk fund that provides health coverage for its members up to a maximum lifetime benefit of $1,000,000.00 per person and dental coverage up to an annual maximum of $1,000.00 per person. The Board of Regents has contracted with Blue Cross Blue Shield of Georgia to process claims in accordance with the Health Benefits Plan as established by the Board ofRegents.

The Department ofAdministrative Services (DOAS) has the responsibility for the State of Georgia of making and carrying out decisions that will minimize the adverse effects of accidental losses that involve State government assets. The State believes it is more economical to manage its risks internally and set aside assets for claim settlement. Accordingly, DOAS processes claims for risk of loss to which the State is exposed, including general liability, property and casualty, workers' compensation, unemployment compensation, and law enforcement officers' indemnification. Limited amounts of commercial insurance are purchased applicable to property, employee and automobile liability, fidelity and certain other risks. The College, as an organizational unit of the Board of Regents of the University System of Georgia, is part of the State of Georgia reporting entity, and as such, is covered by the State of Georgia risk management program administered by DOAS. Premiums for the risk management program are charged to the various state organizations by DOAS to provide claims servicing and claims payment.

A self-insured program of professional liability for its employees was established by the Board ofRegents of the University System ofGeorgia under powers authorized by the Official Code of Georgia Annotated Section 45-9-1. The program insures the employees to the extent that they are not immune from liability against personal liability for damages arising out ofthe performance oftheir duties or in any way connected therewith. The program is administered by DOAS as a Self-Insurance Fund.

- 14 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT "D"

NOTE 7: DEFERRED COMPENSATION PLAN
The State ofGeorgia offers its employees a deferred compensation plan in accordance with Internal Revenue Code Section 457. The plan, available to employees of the State of Georgia and county health departments, pennits such employees to defer a portion oftheir salary until future years. Participation in the plan is optional. Participants choose the option or options in which they wish to participate. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the State of Georgia subject only to the claims of the State's general creditors. Participants' rights under the plan are equal to those of a general creditor of the State of Georgia in an amount equal to the fair market value of the deferred account for each participant. Financial information relative to the plan will be presented in the State of Georgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 1996.
NOTE 8: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA
Plan Description
DeKalb College participates in the Teachers Retirement System of Georgia (TRS), a cost-sharing multipleemployer public employee retirement system (PERS) established by the General Assembly of Georgia for the purpose of providing retirement allowances and other benefits for teachers of the State of Georgia. The College's payroll for the year ended June 30, 1996, for employees covered by TRS was $23,374,585.00. The College's total payroll for all employees was $34,896,105.09.
Benefits
TRS provides service retirement, disability retirement, and survivor's benefits for its members. A member is eligible for service retirement after the member (1) has attained the age of 60 years and has at least ten years ofcreditable service, (2) has at least 30 years of creditable service, regardless of age, or (3) has attained the age of55 years and has at least 25 years of creditable service. For those members with 30 years of service or those age 60 with at least ten years of service, retirement benefits are equal to 2% of the average of the member's two consecutive highest paid years ofservice multiplied by the number ofyears of creditable service up to 40 years. Any member who has between 25 and 30 years of creditable service and is at least 55 years ofage shall receive a benefit which is reduced by the lessor of 1/12 of 7% for each month the member is below age 60, or by 7% for each year or fraction thereofby which the member has less than 30 years of service. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits whereby the disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The benefit is based on member's creditable service (minimum of 10 years of service) and compensation up to the date of death or up to the time of disability.
- 15 -

DEKALB COLLEGE NOTES TO TIIE FINANCIAL STATEMENTS
JUNE 30, 1996

EXIIlBIT "D"

NOTES: RETIREMENTPLANS

TEACHERS RETIREMENT SYSTEM OF GEORGIA

Benefits Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest

Contributions Required and Contributions Made Employees of the College who are covered by TRS are required to pay 5% oftheir gross earnings to TRS. The College makes monthly employer contributions to TRS at rates adopted by the TRS Board ofTrustees as advised by their independent actuary. For fiscal year 1996, the employer contribution rate was 11.81% for covered employees. In addition, the College contributed 4.87% to the TRS on behalf of employees electing to participate in the Regents Retirement Plan. The interest rate assumption (rate of return on investments) was 7.50%.

Total contributions to the plan made during fiscal year 1996 amounted to $4,185,459.33, of which $3,016,727.11 was made by the College and $1,168,732.22 was made by employees. These contributions represented 12.91% (College) and 5% (employees) of covered payroll.

Funding Status and Progress Pension Benefit Obligation
The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 of the Governmental Accounting Standards Board (GASB) that is required to be used for reporting purposes. The standm:dized measurement is the actuarial present value ofcredited projected benefits. This pension valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date and is adjusted for the effects of projected salary increases and any step-rate benefits. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers ofthe PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among similar PERS.

The total unfunded pension benefit obligation ofTRS as ofJune 30, 1995, which was the latest information available, was as follows:

Total pension benefit obligation

$ 17,442,607,000.00

Net assets available for benefits, at cost

15,857,066,000.00

Unfunded pension benefit obligation

$ 1,585 541,000.00

- 16 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT"D"

NOTE 8: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA
Funding Status and Progress Pension Benefit Obligation
The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1995.
Net assets available for benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers.
Retirement System Contributions Total contributions from all employers to TRS for the year ended June 30, 1996, were $607,274,559.00. The College's contribution for the year ended June 30, 1996, of$3,016,727.l l was actuarially determined and represented .4968% oftotal contributions made by all participating employers.
Trend Information Historical trend information is presented in the TRS June 30, 1996, financial report. This information gives an indication ofthe progress made in accumulating sufficient assets to pay benefits when due.
REGENTS RETIREMENT PLAN
The State of Georgia provides optional pension benefits for eligible faculty and principal administrators through a defined contribution plan. In a defined contribution plan, benefits depend solely on amounts contributed to the plan plus investment earnings.
State legislation requires that the employer contribute 4% and the employee contribute 5% of the participating employee's earnable compensation. Amounts attributable to all plan contributions are fully vested and nonforfeitable at all times. The Colleg~s payroll for employees covered by the Regents Retirement Plan for the year ended June 30, 1996, was $5,260,571.27. The College's total payroll for all employees was $34,896,105.09.
The College and the covered employees made the required contributions of $210,256.04 (4%) and $262,821.26 (5%), respectively.
GEORGIA DEFINED CONTRIBUTION PLAN
Plan Description DeKalb College participates in the Georgia Defined Contribution Plan (GDCP) which is a single-employer defined contribution plan established by the General Assembly of Georgia for the purpose of providing retirement coverage for State employees who are temporary, seasonal, and part-time and are not members of a public retirement or pension system. GDCP is administered by the Board of Trustees of the Employees' Retirement System of Georgia. The College's payroll for the year ended June 30, 1996, for employees covered by GDCP was $4,607,460.65. The College's total payroll for all employees was $34,896,105.09.
- 17 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT"D"

NOTE 8: RETIREMENT PLANS
GEORGIA DEFINED CONTRIBUTION PLAN
Benefits A member may retire and elect to receive periodic payments after attainment ofage 65. The payment will be based upon mortality tables and interest assumptions to be adopted by the Board ofTrustees. If a member has less than$ 3,500.00 credited to his/her account, the Board ofTrustees has the option of requiring a lump
sum distribution to the member in lieu ofmaking periodic payments. Upon the death ofa member, a lump sum distribution equaling the amount credited to his/her account will be paid to the member's designated beneficiary.
Contributions and Vesting Member contributions are seven and one-half percent (7.5%) of gross salary. There are no employer contributions. Earnings are credited to each member's account in a manner established by the Board of Trustees. Upon termination of employment, the amount ofthe member's account is refundable upon request by the member.
Total contributions made by employees during fiscal year 1996 amounted to $345,559.13 which represents 7.5% of covered payroll. These contributions met the requirements ofthe plan.
NOTE 9: LEAVE POLICIES
Employees earn annual leave ranging from one and one-quarter days to one and three-quarter days each month depending upon the employees' length of continuous State service with maximum accumulation offorty-five days. Employees are paid for unused accumulated annual leave upon retirement or termination ofemployment. See Note 1- Basis of Accounting (Compensated Absences)
Employees earn one day of sick leave each month with no maximum accumulation established. Unused accumulated sick leave does not vest with the employee and is forfeited upon retirement or termination of employment.
NOTE 10: CONTINGENCIES
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies. This could result in refunds to the grantor agency for any expenditures which are disallowed under grant terms. The amount of expenditures which may be disallowed by the- grantor cannot be determined at this time although the College expects such amounts, if any, to be immaterial to its overall financial position.
Litigation, claims and assessments filed against DeKalb College (as an organizational unit of the Board of Regents ofthe University System of Georgia), if any, are generally considered to be actions against the State ofGeorgia. Accordingly, significant litigation, claims and assessments pending against the State of Georgia are disclosed in the State ofGeorgia Comprehensive Annual Financial Report for the fiscal year ended June 30, 1996.
- 18 -

DEKALB COLLEGE NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 1996

EXHIBIT "D"

NOTE 11: POSTEMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS

Pursuant to the general powers conferred by the Official Code of Georgia Annotated Section 20-3-31, the Board ofRegents ofthe University System ofGeorgia has established group health and life insurance programs for regular employees ofthe University System of Georgia. It is the policy ofthe Board ofRegents to permit employees ofthe University System ofGeorgia eligible for retirement or that become permanently and totally disabled to continue as members ofthe group health and life insurance programs. Employees who are eligible for retirement or disability under the criteria established by the Teachers Retirement System of Georgia and who have at least ten years of service with the University System of Georgia are eligible for these postemployment health and life insurance benefits. Organizational units of the Board of Regents of the University System of Georgia pay the employer portion for group insurance for affected individuals.

As of June 30, 1996, there were 89 employees who had retired or were disabled that were receiving these postemployment health and life insurance benefits. For the year ended June 30, 1996, DeKalb College recognized as incurred $187,761.36 ofexpenditures, which was net of$49,267.20 of participant contributions.

NOTE 12: BONDING INFORMATION

The President and all employees of DeKalb College are bonded under a Public Employees Blanket Bond written by the Employers Insurance ofWausau, their Bond No. 1450-02-110723, on which the premium was paid to October 1, 1996. Under this agreement, the public employee dishonesty coverage insures DeKalb College to a maximum of $1,000,000.00 against loss sustained through fraudulent or dishonest acts by its employees. The faithful.performance of duty coverage insures the College to a maximum of$1,000,000.00 against loss sustained from failure ofits employees to perform faithfully their duties or to account properly for all monies and property receivc.:d by virtue oftheir position or employment.

All employees ofDeKalb College are also bonded under Commercial Crime Policies written by the United States Fire Insurance Company, their Policy Nos. 626011675 2 and 626 012294 4, on which the premiums were paid to October 1, 1996. Under these additional public employee dishonesty coverages, the policies insure the College to a maximum of$9,000,000.00 against loss sustained through fraudulent or dishonest acts by its employees and from failure ofits employees to perform faithfully.

NOTE13: ENROLLMENT

The equivalent full-time student enrollment ofDeKalb College was as follows:

Regular Term Fall Quarter, 1995 Winter Quarter, 1996 Spring Quarter, 1996

10,632 10,253 9,694

Average

10,193

Summer School, 1995

4 737

- 19 -

SUPPLEMENTARY INFORMATION - 21 -

DEKALB COLLEGE
COMBINING BALANCE SHEET
CURRENT FUNDS - UNRESTRICTED JUNE 30, 1996

EXH1errE

~
Cash and Cash Equivalents Accounts Receivable hwentories Prepaid Hems Due from Other Fund Groups

RESIDENT LOTTERY FOR AUXILIARY

STUDENT

INSTRUCTION EDUCATION ENTERPRISES ACTIVITIES

TOTAL

$ 2,138,114.95 $ 179,991.99 225,893.49 115,623.15 521,807.74

60,491.03 $

12,600.00 $ 563,669.78 254,984.83
8,043.59

316,748.29 $ 2,527,954.27

743,661.77

480,878.32

2,303.20

125,969.94

521,807.74

Total Assets

$ 311811431.32 $

601491.03 $ 8391298.20 $ 3191051.49 $ 4140012n.04

LIABILITTES AND FUND BALANCES
Liabilities Accounts Payable Deferred Revenue Tuition and Fees Due to Other Fund Groups
Total Liabilities
Fund Balances Unrestricted

$ 1.135.242.03 $ 1,835,457.24
$ 2,970,699.27 $ 210,732.05

60,491.03 $ 60,491.03 $

16,293.07 $ 12,650.73 $ 1,224,676.86

49,399.43 521,807.74

198,056.50 2,082,913.17 521,807.74

587,500.24 $ 210,707.23 $ 3,829,397.77

0.00

251,797.96 108,344.26

570,874.27

Total Liabilities and Fund Balances

$ 311811431.32 $

601491.03 $ 8391298.20 $ 3191051.49 $ 414001272.04

See notes to the financial statements.

-22 -

DEKALB COLLEGE
COMBINING STATEMENT OF CHANGES IN FUND BALANCES CURRENT FUNDS - UNRESTRICTED YEAR ENDED JUNE 30, 1996

EXHIBIT "F"

RESIDENT LOTTERY FOR AUXILIARY

STUDENT

INSTRUCTION EDUCATION ENTERPRISES ACTIVITIES

TOTAL

REVENUES AND OTHER ADDITIONS
Unrestricted Current Fund Revenues Adjustments
Prior Years' Expenditures/Accounts Payable Prior Years' Checks Voided

$ 53,528,316.90 $
75,328.72 2,580.62

84,535.00 $ 1,633,219.64 $ 1,450,619.50 $ 56,696,691.04

10,058.22 314.60

-402.69 250.00

85,789.63 3,145.22

Total Revenues and Other Additions

$ 53,606,226.24 $ 84,535.00 $ 1,643,592.46 $ 1,451,272.19 $ 56,785,625.89

EXPENDITURES AND OTHER DEDUCTIONS
Educational and General Expenditures Auxiliary Enterprises Expenditures Remittances to the Board of Regents of the
University System of Georgia Prior Year's Unrestricted Fund Balance (Surplus)
Adjustments Prior Years' Revenues/Accounts Receivable

$ 53,463,314.47 $
80,897.50 4,924.85

84,535.00

$ 1,399,798.46 $ 54,947,647.93

$ 1,470,453.13

1,470,453.13

2,579.83

5,304.26

80,897.50 12,808.94

Total Expenditures and Other Deductions

$ 53,549,136.82 $ 84,535.00 $ 1.473,032.96 $ 1,405,102.72 $ 56,511,807.50

TRANSFERS BETWEEN FUNDS

Nonmandatory Renewals and Replacements

$

-9,025.64

$

-9,025.64

Net lncrease/(Decrease) for the Year $ 57,089.42 $

0.00 $ 161,533.86 $ 46,169.47 $ 264,792.75

FUND BALANCES JULY 1, 1995

153,642.63

0.00

90,264.10

62,174.79

306,081.52

FUND BALANCES JUNE 30 1996

$ 210,732.05 $

0.00 $ 251,797.96 $ 108,344.26 $ 570,874.27

See notes to the financial statements.

-23-

DEKALa QQLLE~E COMalNIHg SJ:ATEMENT QF CURRENT FUN!;! REVENUES, EXP!;NQITURES,
AND Qil:!ER CHANgES
UNRESTRICTED
YEAR ENDED JUNE 3Q 1996

EXHIBIT"G"

BEYENUES
State Appropriations Tuition and Fees Federal Grants and Contracts Sales and Services d Educational Activities Sales and Services d Auxiliary Enterprises Other Sources
Total Revenues
EXPENDJTURES
Educational and General Instruction Academic Support Student Services Institutional Support Operation and Maintenance of Plant Scholarships and Fellowships
Auxiliary Enterprises Food Services Stores and Shops Intercollegiate Athletics Other Service Units
Total Expenditures
QTHl;R TRANSF!;RS AND ADDITIONS/ <DEDUCTIONS)
Transfers for Renewals and Replacements Prior Period Adjustments (Net) Remittances to the Board of Regents
d the University System of Georgia Prior Year's Unrestricted Fund Balance (Surplus)
Total Other Transfers and Additions/(Decluctions)

RESIDENT

LOTTERY FOR

AUXILIARY

INSTRUCTION EDUCATION ENTERPRISES

STUDENT ACTIVITIES

TOTAL

$ 38,000,902.00 $ 14,095,414.91 39,915.64 1,248,386.63
143,697.n
$ 53,528,316.90 $

84,535.00 $
84,535.00 $

$
1,489,095.90 144,123.74

$ 1,379, 118.24
71,501.26

38,085,437.00 15,474,533.15
39,915.64 1,248,386.63 1,489,095.90
3591322.n

1,633,219.64 $ 1,450,619.50 $ 56,696,691.04

$ 27,816,371.19 $ 5,559,366.90 4,549,502.64 9,362,900.70 5,950,045.54 225,127.50
$ 53,463,314.47 $

84,535.00

$ 27,900,906.19

5,559,366.90

$ 1,266,017.33 5,815,519.97

9,362,900.70

5,950,045.54

133,781.13

358,908.63

$

90,309.63

786,026.26

433,049.12

161,068.12

90,309.63 786,026.26 433,049.12 161,068.12

84,535.00 $ 1,470,453.13 $ 1,399,798.46 $ 56,418,101.06

$

n,984.49

-80,897.50

$

-7,913.01

$

-9,025.64

$

-9,025.64'

7,792.99 $ -4,651.57

76,125.91

-80.897.50

$

1,232.65 $ -4,651.57 $ 13,797.23

Net lncrease/(Decrease) in Fund Balances

$

57.089.42 $

0.00 $

161.533.86 $ 46.169.47 $ 264.792.75

See notes to the financial statements.

-25-

DEKALB COLLEGE SCHEDULE OF REVENUES AND EXPENDITURES COMPARED TO BUDGET
RESIDENT INSTRUCTION YEAR ENDED JUNE 30. 1996

REVENUES
State Appropriations Other Revenues Retained

CURRENT FUNDS UNRESTRICTED RESTRICTED

PLANT FUNDS RENEWALS AND
UNEXPENDED REPLACEMENTS

$ 38,000,902.00

$ 1,320,534.00

15,527,414.90 $ 6,008,697.36

267,874.00 $ _ _.....a.11.;.,.,693;;..;;;.;;.=58~

--------- $ 53,528,316.90 $ 6,008,697.36 $ 1,588,408.00 $

11,693.58

EXPENDITURES
Personal Services: Education, General and Departmental Services Sponsored Operations
Operating Expenses: Education, General and Departmental Services Sponsored Operations
Capital Outlay Special Funding Initiative

$ 42,189,523.83
$

76,603.82

11,136,234.64 137,556.00

5,932,093.54 $ 1,588,407.83 $

228,067.63

$ 53,463,314.47 $ 6,008,697.36 $ 1,588,407.83 $ _ _ _2_2_8_,06_7._63_

Excess of Revenues over Expenditures

$

65,002.43 $

. 0.00 $

(1) To eliminate tuition waivers not budgeted and to reclassify prior year fund balances budgeted as revenues.

0.17 $ ===-2=16..,.3...,7..4..=05=

See notes to the financial statements.

-26-

TOTAL

ADJUSTMENTS

TOTAL

(1)

(Budget Basis)

BUDGET

VARIANCEFAVORABLE (UNFAVORABLE)

$ 39,321,436.00 21,815,679.84 $

$ 39,321,436.00 $ 39,321,436.00 $ -8,753.45 21,806,926.39 2410671703.00

0.00 -2,260,n6.61

$ 61,137,115.84 $

-8,753.45 $ 61,128,362.39 $ 63,389,139.00 $ -2,260,nS.61

$ 42,189,523.83
76,603.82
11,136,234.64 S
5,932,093.54 1,816,475.46
137,556.00

$ 42,189,523.83 $ 42,409,610.00 $

76,603.82

75,355.00

-225, 127.50

10,911,107.14 5,932,093.54 1,816,475.46
137,556.00

11,649,306.00
7,134,951.00 1,982,361.00
137,556.00

220,086.17 -1,248.82
738,198.86
1,202,857.46 165,885.54 0.00

$ 61,288,487.29 $ -225,127.50 $ 61,063,359.79 S 631389113!l00 S 2,325,ns.21

$ -151,371.45 $

216,374.05 $

65,002.60

$-====65='=00=2=.60=

-27-

DEKALB COLLEGE SCHEDULE OF REVENUES AND EXPENDITURES COMPARED TO BUDGET
LOTTERY FOR EDUCATION
YEAR ENDED JUNE 30, 1996

SCHEDULE "2"

REVENUES State Appropriations

CURRENT FUNDS PLANT FUNDS

TOTAL

UNRESTRICTED UNEXPENDED {Bude!! Basis}

BUDGET

VARIANCEFAVORABLE {UNFAVORABLE}

$

84,535.00 $ 595,000.00 $ 679,535.00 $ 679,535.00 $

0.00

EXPENDITURES

Equipment. Technology and Construction

Trust Fund

$

84,535.00 $ 250.m.oo $ 335,308.00 $ 335,308.00 $

0.00

Special Funding Initiatives

344,227.00

344,227.00 344,227.00

0.00

$

84,535.00 $ 595,000.00 $ 679,535.00 $ 679,535.00 $

0.00

Excess of Revenues over Expenditures

$

0.00 $

0.00 $

0.00

$

0.00

See notes to the financial statements.

-28-

DEKALB COLLEGE SCHEDULE OF OPERATIONS
LOAN FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE "3"

FUND
U. S. GOVERNMENT GRANTS REFUNDABLE
Nursing Loan Fund
INSTITUTIONAL LOANS - RESTRICTED
Candler, Scott. Memorial Loan Fund
DeKalb Fund for Continuing Education Loan Fund
. Dental Hygiene Loan Fund
Druid Hills Lioris Club Loan Fund East DeKalb Rotary Club Loan Fund
Faculty Loan Fund for Student Assistance Lambert, Clark M., Student Loan Fund Langford, Barbara, Memorial Loan Fund Lockhart, Malcolm, Memorial Loan Fund Rehoboth Lions Club Loan Fund Student Emergency Aid Program Loan Fund

FUND BALANCE JULY 111995

ADDITIONS/ TRANSFERS

DEDUCTIONS/ FUND BALANCE TRANSFERS JUNE 3011996

$

621489.40 $

13.829.74 $

571473.70 $

181845.44

$

614.78

16,054.04 $ 1,726.73 5,806.24 233.11
6,909.56
7,196.89 5,108.08
308.70 899.22 11667.67

695.00 $ 57.68
160.06
254.49 170.00 135.00

$

461525.02 $

1.472.23 $

$ 118.00 252.00 200.00 200.00
100.00
870.00 $

614.78
16,631.04 1,784.41 5,714.30 233.11 .6,964.05 7,166.89 5,243.08 308.70 899.22 11567.67
471127.25

$

109,014.42 $

15 301.97 $

58,343.70 $

65,972.69

RECONCILIATION OF STUDENT NOTES RECEIVABLE
Balance July 1, 1995 Add:
Loans to Students
Transfer of Unrestricted Local Funds

Deduct

Repayment of Loans

Loan Cancellations and Write-Offs

For Bankruptcy

$

For Loans Written Off

$
$ 6,064.04 511678.06

$ 17,199.30 8 709.71
$ 28,193.51
57,742.10

62,901.86 251909.01 88,810.87
85,935.61

Balance June 30, 1996

$

21875.26

See notes to the financial statements.

-29-

DEKALB COLLEGE SCHEDULE OF OPERATIONS ENDOWMENT AND SIMILAR FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE "4"

FUND ENDOWMENT
Cherry, Jim, Scholarship Fund Cleveland Family Scholarship Fund Colvin, Camille Cornwell, Scholarship Fund
QUASI-ENDOWMENT - RESTRICTED Brunner, Richard, Memorial Scholarship Fund Johns, Laurie S., Scholarship Fund

FUND BALANCE JULY 111995

ADDITIONS/ TRANSFERS

DEDUCTIONS/ FUND BALANCE

TRANSFERS

JUNE 301 1996

$

6,338.39 $

25,000.00

7.401.83

$

38.740.22 $

0.00 $ 0.00 $

0.00 $ 0.00 $

6,338.39 25,000.00
7.401.83
38.740.22

$

1,410.59 $

10.000.00

$

111410.59 $

0.00 $ 0.00 $

0.00 $ 0.00 $

1,410.59 101000.00
111410.59

$

50,150.81 $

0.00 $

------= 0.00 $

501150.81

See notes to the financial statements.

- 30-

DEKALB COLLEGE SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
AGENCY FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE5"

FUND
PAYROLL DEDUCTIONS
F.I.C.A Federal Income Tax State Income Tax Group Insurance Retirement Georgia Defined Contribution Plan Tax Deferred Annuities Credit Union U.S. Savings Bonds Garnishments/Tax Levies DeKalb College Foundation State Charitable Contributions
EMPLOYER'S CONTRIBUTIONS
F.I.C.A. Retirement Group Insurance
OTHER FUNDS
Alpha Beta Gamma Athletic Housing Benefits Seminar Central Campus Refund Clearing Continuing Education CPA Account DeKalb College Foundation DeKalb College Foundation Check Clearing Dental Insurance Fees Departmental Federal Assistance Financing
System Diversity Conference Faculty Club - Courtesy Committee Federal Funds Repayment Finance Department Social Fund Fine Arts Performances Georgia Association for Women in Education Georgia Association of Economics and Finance Georgia Junior College Athletic Association Gwinnet Campus Refund Clearing Gwinnett Center Promotion Holiday Luncheon Fund ITC Regional Conference ITP Activity James Dickey Newsletter LRC Sunshine Fund Math Conference Mini Consortium Workshop

BALANCE JULY 11 1995

RECEIPTS

BALANCE DISBURSEMENTS JUNE 3011996

$ 2,219,559.31 $

2,219,559.31

3,515,564.07

3,515,564.07

1,269,059.68

1,269,059.68

$

72,873.16

1,085,590.68

1,079,442.13 $

79,021.71

1,431,405.11

1,431,405.11

345,554.66

345,554.66

563,012.87

565,237.76

-2,224.89

-60.00

536,284.91

536,224.91

58.71

14,595.00

14,500.00

153.71

94,366.25

92,882.25

1,484.00

11,626.40

11,626.40

982.42

131239.46

14.221.88

$

73.854.29 $ 1110991858.40 $

1110951278.16 $

781434.53

$

-20.99 $ 2,223,498.95 $

351.19

3,226,374.33

1451207.49

216621419.68

$ 1451538.59 $ 811121292.96 $

2,223,478.86 3,226,725.52 2,6621238.79 $
811121443.17 $

1451388.38 1451388.38

$

29,987.00 $

$

1,585.39

30,429.40

224.21

-19.97

14,759.08

6,838.97

7,911.16

14,058.12

-14,058.12

437.30

107,120.00

1,137.71

2,061.50

815.00

29,127.76 $ 31,996.TT
204.24 14,759.08
5,033.22
103,068.50 1,000.00 930.00

399.48 2,038.82 1,050.95
-0.67
272.50
2,146.85 274.28 -79.55
2,634.93 37.40
320.50
882.35 157.33 8,587.42 352.54

4,667,149.19
3,904.25 0.67
346.08 320.00 656.25 1,385.00 1,000.00 8,451.54 1,432.34 1,405.00 39,236.85
90.00 838.22 340.00 4,105.00

4,667,465.70
3,433.18
346.08 375.00 656.25 1,123.89
40.90 8,451.54
265.00 1,350.00 39,557.35
39.45 1,049.75
268.75 3,275.13
352.54

859.24 18.02
9,716.91
4,488.80 137.71
1,946.50
82.97 2,038.82 1,522.02
217.50
2,407.96 1,233.38
-79.55 3,802.27
92.40
50.55 670.82 228.58 9,417.29

See notes to the financial statements.

- 31 -

DEKALB COLLEGE SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
AGENCY FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE s-

BlliQ
OTHER FUNDS
Nature Trail North Campus Refund Clearing Nursing Class of 1995 Nursing Class of 1996 Nursing Insurance Fees Nursing Sunshine Fund Polishing Cloth -RASCA Rolex Tennis Tournament SCETC Scholarships
Regents' Scholarship Fund Other Scholarships (List on File) South Campus Refund Clearing Student Field Trips Student Loan Funds Student Loan Returns Student Loans - FY 97 Support Staff Recognition Systems Committee

BALANCE JULY1 I 1995

RECEIPTS

BALANCE DISBURSEMENTS JUNE 3011996

$

19,133.36 $

34,608.51 $

101,100.59

163.73

42.53

6,459.19

9,671.76

13,820.00

307.73

325.00

2,467.42

1,158.50

750.00

40.00

124.02

2,216.00

33,645.37 269.46
2,075.30 13,500.00

17,200.00 108,054.87 106,371.34
1,376.00 80,487.47
239,100.90 2,214.97 11840.00

$ 1251554.75 $ 516251991.54 $

31,195.63 $ 100,991.56
206.26 5,726.34 13,751.18
559.45 800.00 595.34 114.02 2,216.00
17,200.00 107,416.91 108,189.48
1,124.00 82,620.52 13,500.00 249,259.50 2,147.41
11816.70
516531600.38 $

22,546.24 109.03
732.85 9,740.58
73.28 2,825.92
154.66 50.00
34,283.33 -1,548.68
252.00 -57.75
-10,158.60 67.56 23.30
971945.91

$ 344,947.63 $ 24,838,142.90 $ 24,861,321.71 $ 321,768.82

See notes to the financial statements.

-32-

DEKALB COLLEGE CASH AND CASH EQUIVALENTS
JUNE 30, 1996

SCHEDULE "6"

INTEREST BEARING ACCOUNTS
First Union National Bank, Atlanta, Georgia
Savings Account (1.98%)
Georgia Federal Credit Union, Clarkston, Georgia
Certificates of Deposit (3.29% - 5.00%)
State of Georgia - Office of Treasury and Fiscal Services State Investment Pool Local Government Investment Pool (5.32%)
Wachovia Bank of Georgia, Atlanta, Georgia
Certificates of Deposit (4.64%- 5.02%) Commercial Interest Checking Account
OTHER
Cash on Hand Petty Cash

$

27,559.16

18,926.43

2,125,398.90

$

15,435.18

3,579,489.59

3,594,924.77 $ 5,766,809.26

42,600.00

$ 5,809,409.26

See notes to the financial statements.

- 33 -

DEKALB COLLEGE ACCOUNTS RECEIVABLE
JUNE 30, 1996

Federal Grants and Contracts Research and Instruction
State Grants and Contracts Research and Instruction
Local Grants and Contracts Research and Instruction
other Georgia State Financing and Investment Commission Georgia Student Finance Commission Interest Eamed Returned Checks Student Accounts Student Notes Vendor Credit Memos other

CURRENT FUNDS UNRESTRICTED RESTRICTED

$

21,817.08

23,074.99

2,340.00

LOAN FUNDS

$

52,828.29

145,287.69

507,165.96 38,379.83

236.21 $

2,875.26

$

743,661.77 $

47,468.28 $ ===2'=87=5=.2=6

See notes to the financial statements.

-34-

SCHEDULE '7"

PLANT FUNDS UNEXPENDED

AGENCY. FUNDS

TOTAL

$

21,817.08

23,074.99

2,340.00

$ 101,632.67 $

10,158.60

164.09

101,632.67 10,158.60
236.21 52,828.29 145,287.69 2,875.26 507,165.96 38,543.92

$ 101i796.76 $

10,158.60 $ 905,960.67

- 35-

DEKALB COLLEGE CHANGES IN INVESTMENT IN PLANT
YEAR ENDED JUNE 30, 1996

Land Buildings Improvements Other Than Buildings Equipment Library Books and Collections
SUMMARY OF INVESTMENT College Capital Leases

BALANCE JULY 11 1995
$ 4,220,775.73

CURRENT FUNDS UNRESTRICTED RESTRICTED

PLANT UNEXPENDED

64,035,082.57 $

199,819.82

$ 1,913,407.83

3,725,421.47

5,100.00

9,383,489.56
a1aaa1413.46

1,299,665.47 $ 475.187.80

5,619.47

258,079.00

$ 90,253,182.79 $ 1,979,773.09 $

5,619.47 $ 2,171,486.83

$ 90,078,262.59 $ 174.920.20

1,979,773.09 $

5,619.47 $ 2,171,486.83

$ 90,253,182.79 $ 1,979,773.09 $

5,619.47 $ 2,171,486.83

See notes to the financial statements.

- 36-

SCHEDULE "8"

ADDITIONS
FUNDS RENEWALS AND REPLACEMENTS

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION

CAPITAL LEASES

PRIVATE GIFTS

DEDUCTIONS DISPOSALS/ DELETIONS/ ADJUSTMENTS

BALANCE JUNE 3011996

$ 4,220,775.73

$

223,673.57 $ 1,384,647.67

67,756,631.46

135,432.75

3,865,954.22

4,394.06

$ 120,760.80 $

8,050.00 $

640,364.15 10,439,694.21

913631601.26

$

228,067.63 $ 1,520,080.42 $ 120,760.80 $

8,050.00 $ 6401364.15 $ 95,6461656.88

$

228,067.63 $ 1,520,080.42

$

8,050.00 $

540,071.11 $ 95,451,268.92

- - - - - $ 120,760.80

100,293.04

1951387.96

$

228,067.63 $ 1,520,080.42 $ 120,760.80 $

-81050.00 $ 640,364.15 $ 951646,656.88

- 37 -

DEKALB COLLEGE SCHEDULE OF FUND BALANCES CURRENT FUNDS AND PLANT FUNDS
JUNE 30, 1996

NET INVESTMENT IN PLANT Investment in Plant Facilities
RESTRICTED Designated for Subsequent Years' Expenditures
UNRESTRICTED Designated For Bus Replacement Reserve For DeKalb County Local Funds For Intercollegiate Athletics For Inventory Reserve For Renewals and Replacements Reserve For Subsequent Years' Expenditures For Uncollectible Accounts Undesignated Surplus Regular Lottery for Education

RESIDENT INSTRUCTION

CURRENT FUNDS

UNRESTRICTED

LOTTERY FOR

AUXILIARY

EDUCATION ENTERPRISES

STUDENT ACTIVITIES

$ 201,600.00 3,400.58

$

29,759.01

254,984.83

-32,945.88 $ 108,344.26

5,731.47

- - - - - $ ______0._00_

$ 210,732.05 $

0.00 $

251,797.96 $

108,344.26

$ 210,732.05 $

0.00 $ 251,797.96 $ 108,344.26

See notes to the financial statements.

- 38-

SCHEDULE "9"

RESTRICTED

PLANT FUNDS

UNEXPENDED

LOTTERY FOR RENEWALS AND

REGULAR

EDUCATION REPLACEMENTS

INVESTMENT IN PLANT

TOTAL

..
$ . 129,361.99

$ 95,451,268.92. $ 95,451,268.92 $ 129,361.99

$ 1,000,215.54

$

59,936.37

494,348.10

$

59,936.37

1,000,215.54

29,759.01

456,584.83

494,348.10

75,398.38

3,400.58

0.17
_ _ _ _ _ $ _ _ _ _o_.o_o

$ 1,000,215.71 $

0.00 $ ____5_54_..,<;,2;:;.;84~.4"-7

5,731.64 0.00
$ 2,125,374.45

$ 129,361.99 $ 1,000,215.71 $

0.00 $

554,284.47 $ 95,451,268.92 $ 97?06,005.36

- 39 -

State Appropriations Allotments from the Board of Regents of the University System of Georg~ Regular Special Funding Initiative Lottery Proceeds
Other Revenues Retained Tuition and Fees Matriculation Other
Federal Grants and Contracts Research and Instruction Student Aid Contract Overhead
State Grants and Contracts Research and Instruction Student Aid
Local Grants and Contracts Research and Instruction
Private Gifts, Grants, and Contracts Research and Instruction Student Aid
Endowment Income Student Aid
Sales and Services of Educational Activities
Sales and Services of Auxiliary Enterprises
Other Sources Camp Fees Cash Over-Short Commissions Donations Interest Earned Rents Other

l2EKA!.~ ~!.I.EGE ~1:!El2Ul,1;; QF BEVl;;N!.!E
~!.!BRt!ll F!.!Nl2
YEAR ENDED JUNE 30. 1996

RESIDENT INSTRUCTION

LOTTERY FOR EDUCATION

UNRESTRICTED AUXILIARY
ENTERPRISES

$ 37,863,346.00 137,556.00 $
$ 38,000,902.00 $

84,535.00 84,535.00

$ 12,339,815.27 1,755,599.64

39,915.64

1,248,386.63
25,900.80 6,660.91 67,573.00 43,563.01 $ 15,527,414.90

$ 1,489,095.90
1,140.00 -934.27 94,867.03 27,922.00 21,128.98
$ 1,633,219.64

$ 5315281316.90 $ 841535.00 $ 116331219.64

See notes to the financ~I statements.

-40-

SCHEDULE "10"

STUDENT ACTIVITIES

TOTAL

RESTRICTED RESIDENT
INSTRUCTION

TOTAL

$ 37,863,346.00 137,556.00 84.535.00
$ 38.085.437.00

$ 37,863,346.00 137,556.00 84.535.00
$ 38.085.437.00

$ 12,339,815.27 $ 1,379,118.24 3,134,717.88

$ 12,339,815.27 3,134,717.88

$ 55,460.93 4,647,300.06
39,915.64

55,460.93 4,647,300.06
39,915.64

80,259.69 1,205,010.48

80,259.69 1,205,010.48

3,700.00

3,700.00

10,326.20 3,990.00

10,326.20 3,990.00

1,248,386.63 1,489,095.90

2,650.00

2,650.00 1,248,386.63 1,489,095.90

61,161.63 10.339.63

1,140.00 -934.27 120,767.83 27,922.00 6,660.91 149,863.61 53,902.64

1,140.00 -934.27 120,767.83 27,922.00 6,660.91 149,863.61 53.902.64

s $ 1.4so1619.SO $ 18.611 .254.04 $ 610081697.36 2416191951.40

$ 1,450,619.50 $ 56,696,691.04 $ 6,008,697.36 $ 62,705,388.40

-41 -

DEKALB COLLEGE SCHEDULE OF EXPENDITURES BY OBJECT .
CURRENT FUNDS YEAR ENDED JUNE 30, 1996

PERSONAL SERVICES
Salaries and Wages Employer's Contributions for:
F.I.C.A Retirement Group Insurance Liability Insurance Unemployment Compensation Insurance Workers' Compensation Insurance

OPERATING EXPENSES
Travel Motor Vehicle Expenses Supplies and Materials Repairs and Maintenance Utilities Rents (Other than Real Estate) Insurance and Bonding Tuition and Scholarships
College Work-Study Program Scholarships, Fellowships, Prizes, Awards and Other Other Operating Expenses Publications and Printing Equipment Non-Inventory Computer Charges Software Real Estate Rentals Telecommunications Per Diem, Fees and Contracts Per Diem and Fees Contracts Equipment Motor Vehicle Purchases Lease/Purchase of Equipment Inventory

OTHER
EQUIPMENT, TECHNOLOGY AND CONSTRUCTION TRUST FUND Other Costs Supplies and Materials Repairs and Maintenance Equipment Non-Inventory Software Equipment Inventory

See notes to the financial statements.

-42-

RESIDENT INSTRUCTION

LOTTERY FOR EDUCATION

UNRESTRICTED AUXILIARY
ENTERPRISES

$ 33,n1,840.47
2,157,162.85 3,126,540.34 2,558,052.17
253,036.00 12,836.00
3101056.00
$ 4211891523.83

$

664,008.71

42,564.63 65,219.70 71,076.20

$

8421869.24

$ 371,997.61 56,007.23
1,819,007.80 575,250.56
1,210,744.32 274,146.02 52,882.55
56,378.12 225,127.50
56,889.81 581,205.06
569,183.40 22,650.00 235,967.42 1,347,853.60 650,874.33
887,046.28 489,715.11
16,573.00 96,1n.84 115401557.08
$ 1111361234.64

$

27,933.46

10,044.99

46,364.99

14,799.27

24,709.1;2

18,628.57

40,328.00

128,537.91 180,319.42
13,189.65
6,421.57
2,668.08 36,149.45 16,520.54
54,718.87

61250.00

$

6271583.89

$

1,557.05

1,020.24

7,066.17 75.00

741816.54

$

841535.00

SCHEDULE "11"

STUDENT ACTIVITIES

TOTAL

RESTRICTED RESIDENT
INSTRUCTION

TOTAL

$ 318,402.13 $ 34,754,251.31 $

15,720.89 22,453.70 17,818.38

2,215,448.37 3,214,213.74 2,646,946.75
253,036.00 12,836.00
3101056.00

$ 3741395.10 $ 431406z788.17 $

66,050.84 $ 34,820,302.15

2,625.14 4,726.30 3,201.54

2,218,073.51 3,218,940.04 2,650,148.29
253,036.00 12,836.00
3101056.00

761603.82 $ 4314831391.99

$

11,247.94 $ 411,179.01 $

8,575.12 $ 419,754.13

66,052.22

66,052.22

56,128.14 1,921,500.93

13,987.11

1,935,488.04

733.00

590,782.83

590,782.83

1,235,453.44

1,235,453.44

15,956.68

308,731.27

6,238.30

314,969.57

1,350.00

94,560.55

94,560.55

133,781.13 484,643.66 80,811.95

56,378.12 487,446.54 721,852.89 675,206.66

169,134.36 5,689,816.18
12,379.44 59.22

225,512.48 6,1n,2S2.12
734,232.33 675,265.88

21,430.69 1,497.03 7,217.93

597,035.66 22,650.00
240,132.53 1,384,003.05
674,612.80

6,290.63 99.71

603,326.29 22,650.00
240,232.24 1,384,003.05
674,612.80

1oe,114.n 76,173.58

1,050,879.92 565,888.69

19,894.00

1,010,n3_92 565,888.69

251316.86

16,573.00 es,1n.84 115721123.94

5 619.47

16,573.00 96,1n.84 1,5nz743.41

$ 110251403.36 $ 12z789,221.89 $ 519321093.54 $ 18z7211315.43

$

1,557.05

1,020.24

7,066.17 75.00

74 816.54

$

841535.00

$

1,557.05

1,020.24

7,066.17 75.00

74 816.54

$

841535.00

-43-

DEKALB COLLEGE SCHEDULE OF EXPENDITURES BY OBJECT
CURRENT FUNDS
YEAR ENDED JUNE 30. 1996

OTHER
SPECIAL FUNDING INITIATIVE
Personal Services Salaries and Wages Employer's Contributions for:
F.I.C.A. Retirement Group Insurance
Other Costs Travel Supplies and Materials Other Expenses Equipment Non-Inventory Software Telecommunications Per Diem, Fees and Contracts Per Diem and Fees Equipment Inventory

RESIDENT INSTRUCTION

LOTTERY FOR EDUCATION

UNRESTRICTED AUXILIARY
ENTERPRISES

$

75,802.94

4,578.29 5,666.44 3.853.16

$

89,900.83

3,665.24 11,053.06 3,148.95

2,726.17 4,326.95
400.00

7,172.85

15,161.95

$ 137.556.00

$ 53,463,314.47 $

84,535.00 $ 1.470,453.13

See notes to the financial s1atements.

-44-

SCHEDULE "11"

STUDENT ACTMTIES

TOTAL

RESTRICTED RESIDENT
INSTRUCTION

TOTAL

$

75,802.94

4,578.29 5,666.44 31853.16

$

89,900.83

3,665.24 11,053.06
3,148.95

2,726.17 4,326.95
400.00

7,172.85

,151161.95

$ 1371556.00

$

75,802.94

4,578.29 5,666.44 3.853.16

$

89,900.83

3,665.24 11,053.06
3,148.95

2,726.17 4,326.95
400.00

7,172.85

151161.95

$ 137.556.00

s s s s 1,399,798.46 56,418,101.os

spos,697.36 62,426,798.42

-45-

DEKALB COLLEGE SCHEDULE OF EXPENDITURES BY OBJECT
PLANT FUNDS YEAR ENDED JUNE 30, 1996

SCHEDULE "12"

UNEXPENDED

LOTTERY FOR

REGULAR

EDUCATION

RENEWALS ANO REPLACEMENTS

TOTAL

CAPITAL OUTLAY

Publications and Printing Per Diem, Fees and Contracts
Per Diem and Fees Contracts !=quipment Inventory

$'

3,434.05

90,966.49 1,494,007.29

$

3,434.05

$

7,988.57

98,955.06

215,685.00

1,709,692.29

4,394.06

4,394.06

$ 1,588,407.83

$

228,067.63 $ 1,816,475.46

OTHER

EQUIPMENT, TECHNOLOGY AND CONSTRUCTION TRUST FUND Other Costs Equipment Inventory

$ 250,773.00

$ 250,773.00

SPECIAL FUNDING INITIATIVE Other Costs Supplies and Materials Repairs and Maintenance Equipment Non-Inventory Telecommunications Per Diem, Fees and Contracts Contracts Equipment Inventory

$

1,364.40

532.00

2,659.27 7,365.33

325,000.00

7,306.00

$

1,364.40

532.00

2,659.27 7,365.33

325,000.00

7,306.00

$ 344,227.00

$ 344,227.00

$ 1,588,407.83 $ 595,000.00 $

228,067.63 $ 2,411,475.46

See notes to the financial statements.

-46-

DEKALB COLLEGE RECONCILIATION OF SALARIES AND WAGES, AND TRAVEL
YEAR ENDED JUNE 30, 1996

SCHEDULE "13"

Totals per Annual Supplement

Adjustments

Shared Services on Jointly Staffed Personnel

Albany State University

Turner,

Jerry

Atlanta Metropolitan College

Clay,

Catherine

Clayton State College

Clay,

Catherine

Georgia Institute of Technology

Denniston, Michael

Georgia State University

Scruggs,

Jill

Southern College of Technology

Adams,

Teresa

Other Gavorsky,

Scott Allen

SALARIES AND WAGES
$ 34,949,049.18 $

TRAVEL 423,611.84

-18,940.22 -9,271.55
-13,907.32 -18,964.00
s,66~.oo -525.00

-192.47

Totals per Report

$ 3418961105.09 $ 423A19.37

DISTRIBUTION BY FUND
CURRENT FUNDS Unrestricted Resident Instruction Regular Special Funding Initiative Auxiliary Enterprises Student Activities Restricted Resident Instruction

$ 33,771,840.47 $
75,802.94 664,008.71 318,402.13
661050.84

371,997.61 3,665.24
27,933.46 11,247.94
81575.12

423,419.37

See notes to the financial statements.

-47 -