Audit report, Bartow County Board of Education, Cartersville, Georgia, year ended June 30, 1994

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STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA, GEORGIA 30334

AUDIT REPORT BARTOW COUNTY BOARD OF EDUCATION
CARTERSVILLE, GEORGIA YEAR ENDED JUNE 30, 1994

BARTOW COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

EXHIBITS

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

GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - ACTUAL AND BUDGET

GOVERNMENTAL FUND TYPES

7

D

STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN FUND BALANCES

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

8

E

STATEMENT OF CASH FLOWS

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND

9

F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

10

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

G

COMBINING BALANCE SHEET

24

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

26

CAPITAL PROJECTS FUND

I

COMBINING BALANCE SHEET

28

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

29

FIDUCIARY FUND TYPE

K

COMBINING BALANCE SHEET

30

BARTOW COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

31

2 ANALYSIS OF CASH AND CASH EQUNALENTS

33

3 INVESTMENTS

34

4 ACCOUNTS RECEIVABLE

35

5 DEBT SERVICE REQUIREMENTS TO MATURITY

36

SCHEDULE OF REVENUE

6

STATE FUNDS

38

7

LOCAL AND OTHER FUNDS

39

SCHEDULE OF EXPENDITURES BY OBJECT

8

GOVERNMENTAL FUND TYPES

40

9

LOTTERY PROGRAMS

41

10

FIDUCIARY FUND TYPE

EXPENDABLE TRUST FUND

42

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

11

OVERALL

43

12

BYPROGRAM

44

13 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

46

SECTION II
COMPLIANCE
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS

BARTOW COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -
SECTION ill INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April3,.1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Bartow County Board ofEducation
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through F) of the Bartow County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility ofthe Board's management. Our responsibility is to express an opinion on these financial statements based on our audit.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material 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.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
94ARL-13

The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects ofsuch adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Bartow County Board ofEducation as of June 30, 1994, and the results ofits operations and the cash flows of its nonexpendable trust fund for the year then ended, in conformity with generally accepted accounting principles.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Bartow County Board ofEducation taken as a whole. The combining statements (Exhibits G through K) and the financial schedules (Schedules 1 through 13 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements of the Bartow County Board of Education. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
94ARL-13

A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94ARL-13

BARTOW COUNTY BOARD OF EDUCATION - 1-

BARTOW COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1994

ASSETS
Cash and Cash Equivalents Investments Accounts Receivable Inventories
Food Donated Commodities Purchased Food
Supply Amount Available in Debt Service Fund Amount to be Provided in Future Years
For Payment of Bond Debt

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL REVENUE
FUND

CAPITAL PROJECTS
FUND

$1,999,067.25$ 1,019,535.44

3,610,479.67

$22,101,582.66

412,898.22

483,969.43

439,680.90

34,203.87 28,066.54 6,451.80

Total Assets
LIABILITIES AND FUND EQUITY LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Notes Payable Interest Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue General Obligation Bonds Payable
Total Liabilities FUND EQUITY
Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Endowment Corpus For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food Supply For Purposes of Bond Issue
Unreserved Undesignated Total Fund Equity

$=6=,=0=2=2==,4==4=5=.=1=4$==1=,5=7==2=,2==2=7=.0==8 $=2=2=,5==4=1=,2==6=3=.5==6

$ 1,748,094.18

$ 394,876.96 $ 377,907.22

166,597.39

260,290.05

49,828.20 3,576.01

2,188,883.90 988,787.24

------------- ------------- -------------

$----3-9-4-,-8-7-6-.-9-6 $----6-9-1-,-6-0-1-.4--8 $--5-,0-9--2-,3-6--2-.7-1-

$ 196,812.37 $

785.07

90,832.47

34,203.87 28,066.54 6,451.80
$17,448,900.85

$ 287,644.84$ 69,507.28 $17,448,900.85

5,339,923.34

811,118.32

0.00

$5,627,568.18$ 880,625.60 $17,448,900.85

Total Liabilities and Fund Equity

$6,022,445.14$ 1,572,227.08 $22,541,263.56
============= ============= =============

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

EXHIBIT "A"

--------------DEBT
SEFURNVDICE

FIDUCIARY FUND TYPES - -TR-U- -ST- - -FU-N- D- -S -

ACCOUNT GROUP -------------
GENERAL LONDGEB-TTERM

TOTALS (Memorandum Only) J-U-N-E---3-0-, --1-99-4----JU-N-E---3-0-, --1-9-93-

$1,483,470.48 $ 237,317.91

20,424.85

81. 75

$4,739,391.08$ 3,166,204.30 25,712,062.33 8,849,029.70 1,357,055.15 1,502,768.62

$1,503,895.33

34,203.87 28,066.54
6,451.80 1,503,895.33

71,072.84 29,113.42
2,579.81 987,558.77

23,061,104.67 23,061,104.67 1,392,441.23

$1,503,895.33 $ 237,399.66 $24,565,000.00 $56,442,230.77 $16,000,768.69
============= ============= ----========- --=========== =============

$1,748,094.18

939,381.57 $ 216,322.04

260,290.05

220,547.27

4,000,000.00

53,014.44

49,828.20

4,824.52

2,188,883.90

446,187.70

988,787.24

196,254.00

3,576.01

$24,565,000.00 24,565,000.00 2,380,000.00

$24,565,000.00 $30,743,841.15 $ 7,517,149.97

$1,503,895.33 $ 20,946.04
------------- -------------
$ 1,503,895.33 $ 20,946.04
----------0-.-0-0 ----2-1-6-,-4-5-3-.-6-2 $--1-,5-0--3-,8--9-5-.3--3 $----2-3-7-,-3-9-9-.-6-6

$ 196,812.37 $ 785.07
1,503,895.33 20,946.04 90,832.47

182,981.39 6,917.66
987,558.77 20,946.04 6,057.06

34,203.87 28,066.54
6,451.80 17,448,900.85

71,072.84 29,113.42
2,579.81

$19,330,894.34$ 1,307,226.99

6,367,495.28 7,176,391.73

$25,698,389.62 $ 8,483,618.72

$=1=,=5=0=3=,=8=9=5==.3=3=

$ 237,399.66
=============

$24,565,000.00
=============

$56,442,230.77
=============

$16,000,768.69
=============

- 3-

BARTOW COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 1994

REVENUES State Funds Federal Funds Local and Other Funds Total Revenues
EXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services Capital Outlay Debt Service Principal Interest Paying Agent Fees Total Expenditures
Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES)
Accrued Interest on Bonds Sold Proceeds from General Obligation Bonds
Par Value Discount on Bonds Sold Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources
over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1
Food Inventory Donated Commodities July 1 June 30 Purchased Food July 1 June 30
Supply Inventory July 1 June 30

GENERAL FUND

GOVERNMENTAL FUND

SPECIAL REVENUE FUND

CAPITAL PROJECTS
FUND

$23,165,401.00 $ 666,867.07 $1,566,131.00

229,725.92 2,691,181.33

13,935,304.40 1,136,767.92

538,970.84

$37,330,431.32 $ 4,494,816.32 $ 2,105,101.84

$23,209,263.07 $1,158,571.01

830,133.15 218,754.23 927,781.24 394,192.84 3,072,173.85 536,766.19 3,713,326.87 2,087,613.16 589,095.11 29,178.94 113,832.17

131,540.04 78,960.22 162,220.00 79,415.26

$ 129,820.34
14,920.64 1,164.66

216,576.03

2,715,992.96 39,457.19 9,420,018.81

$35,722,110.82 $ 4,512,062.32 $ 9,636,594.84 $1,608,320.50$ -17,246.00 $-7,531,493.00

$ $-2,225,819.48 $-2,225,819.48 $

$22,965,000.00 -149,272.50
11,153.13 2,164,666.35 11,153.13 $24,980,393.85

$ -617,498.98 $ -6,092.87 $17,448,900.85

6,245,067.16 920,762.33

0.00

-68,587.14 34,203.87 -31,599.12 28,066.54 -2,579.81
6,451.80

FUND BALANCE JUNE 30

$=5=,=6=2=7==,5==6=8=.=1=8$

880,625.60
=============

$17,448,900.85
=============

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

- 4-

EXHIBIT "B"

TYPES DEBT
SEFURNVDICE

TOTAL

FIDUCIARY FUND TYPE ------------TERXUPESNTDAFUBNLDE

TOTALS (Memorandum Only)
YEAR ENDED J-U-N-E--3--0-, --1-99-4----JU-N-E---3-0-, --1-9-93-

$25,398,399.07 2,920,907.25
$1,950,427.35 17,561,470.51 $ $1,950,427.35 $45,880,776.83 $

$25,398,399.07 $24,451,459.69 2,920,907.25 2,684,512.76
4,831.02 17,566,301.53 15,933,711.70 4,831.02 $45,885,607.85 $43,069,684.15

$24,367,834.08

$24,367,834.08 $22,989,612.39

961,673.19 297,714.45 1,090,001.24 473,608.10 3,072,173.85 753,342.22 $ 3,843,147.21 2,102,533.80 590,259.77
29,178.94 2,715,992.96
153,289.36 9,420,018.81

147,410.78

961,673.19 297,714.45 1,090,001.24 473,608.10 3,072,173.85 900,753.00 3,843,147.21 2,102,533.80 590,259.77
29,178.94 2,715,992.96
153,289.36 9,420,018.81

840,668.41 232,564.38 886,769.58 596,410.57 2,774,536.87 835,101.44 3,368,618.67 1,967,491.08 743,342.24 24,073.20 2,362,441.45 54,721.28 2,673,470.91

$ 780,000.00

780,000.00

780,000.00

740,000.00

741,840.00

741,840.00

741,840.00

202,800.00

--------6-3-9-.7--7 --------6-3-9-.-7-7 ------------- --------6-3-9-.-7-7 --------7-3-6-.7--2

$1,522,479.77 $51,393,247.75$ 147,410.78 $51,540,658.53 $41,293,359.19

$ 427,947.58 $-5,512,470.92 $ -142,579.76 $-5,655,050.68 $1,776,324.96

$ 88,388.98$ 88,388.98

$ 88,388.98

22,965,000.00 -149,272.50
2,175,819.48$ -2,225,819.48

22,965,000.00 -149,272.50
50,000.00 2,225,819.48$ 677,804.23 -2,225,819.48 -677,804.23

$ 88,388.98 $22,854,116.48 $ 50,000.00 $22,904,116.48 $

0.00

$ 516,336.56 $17,341,645.56$ -92,579.76 $17,249,065.80$ 1,776,324.96

987,558.77 8,153,388.26

305,376.03 8,458,764.29 6,612,222.79

-68,587.14 34,203.87 -31,599.12 28,066.54 -2,579.81 6,451.80

-68,587.14 34,203.87 -31,599.12 28,066.54 -2,579.81 6,451.80

68,587.14 -31,262.89 31,599.12 -1,286.64
2,579.81

$1,503,895.33
=============

$25,460,989.96$ 212,796.27
============= =============

$=2=5=,6==7=3=,7==8=6=.2=3=

$ 8,458,764.29
=============

- 5-

BARTOW COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ACTUAL AND BUDGET - GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30. 1994

EXHIBIT "C"

REVENUES

ACTUAL

ACTUAL

PER

PER

EXHIBIT "B" ADJUSTMENTS BUDGET BASIS

BUDGET

VARIANCE FAVORABLE (UNFAVORABLE)

State Funds Federal Funds Local and Other Funds

$25,398,399.07 $
2,920,907.25 17,561,470.51

0.00 $25,398,399.07 $22,770,073.00 $ 2,628,326.07
2,920,907.25 2,477,730.10 443,177.15 17.561.470.51 14.834.253.06 2,727,217.45

Total Revenues

$45,880,776.83 $_ _ _0-.0-0 $45.880.776.83 $40,082.056.16 $ 5,798,720.67

EXPENDITURES

Current Instruction Support Services Pupil Services I~rovement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services
Capital Outlay Debt Service

$24,367,834.08$
961,673.19 297,714.45 1,090,001.24 473,608.10 3,072,173.85 753,342.22 3,843,147.21 2,102,533.80 590,259.77 29,178.94 2,715,992.96
153,289.36 9,420,018.81 1,522.479. 77

0.00 $24,367,834.08 $24,302,880.90$ -64,953.18

961,673.19 297,714.45
1,090,001.24 473,608.10
3,072,173.85 753,342.22
3,843,147.21 2,102,533.80
590,259.77 29,178.94 2,715,992.96

1,000,891.16 255,292.00
869,198.38 613,874.54 5,130,481.14 906,151.55 4,947,370.30 1,824,470.97 657,521.05 29,660.00 2,553,888.04

39,217.97 -42,422.45
-220,802.86 140,266.44
2,058,307.29 152,809.33
1,104,223.09 -278,062.83
67,261.28 481.06
-162,104.92

153,289.36 9,420,018.81
1,522,479.77

-153,289.36 -9,420,018.81 934,700.00 -587.779.77

Total Expenditures

$51.393.247.75 $_ _ _~0-:.::o.o. $51.393.247.75 $44.026.380.03 $-7.366.867.72

Excess of Revenues over (under) Expenditures $-5.512.470.92 $

0.00 $-5.512.470.92 $-3.944.323.87 $-1,568.147.05

OTHER FINANCING SOURCES (USES)

Other Sources Other Uses

$25,229,208.46$ -2,375.091.98

0.00 $25,229,208.46$ 679,703.97 $24,549,504.49 -2,375.091.98 -953.272.00 -1,421.819.98

Total Other Financing Sources (Uses) $22,854,116.48 $_ _ _0~:.::0.0. $22,854.116.48 $ -273.568.03 $23,127 .684.51

Excess of Revenues and Other Financing Sources

over (under) Expenditures and Other

Financing Uses

$17,341,645.56$

0.00 $17,341,645.56 $-4,217,891.90 $21,559,537.46

FUND BALANCE JULY 1, 1993

8,153,388.26 -102,766.07 8,050,622.19 8,256,810.19 -206, 188. 00

ADJUSTMENTS

Prior Year (Net)

0.00

0.00

1,510.05

-1,510.05

FOOD INVENTORY

Donated COOlllOdities July 1, 1993 June 30, 1994
Purchased Food July 1, 1993 June 30, 1994

-68,587.14 68,587.14

0.00

0.00

34,203.87 -34,203.87

0.00

0.00

-31,599.12 31,599.12

0.00

0.00

28,066.54 -28,066.54

0.00

0.00

SUPPLY INVENTORY

July 1, 1993 June 30, 1994

-2,579.81

2,579.81

0.00

0.00

6.451.80 -6,451.80

0.00

0.00

FUND BALANCE JUNE 30, 1994

$25,460,989.96 $ -68.722.21 $25 1392.267.75 $ 41040 1428.34 $21 1351 1839.41

The notes to the general purpose financial statenents are an integral part of this statenent.

- 7-

BARTOW COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES. EXPENSES AND CHANGES IN FUND BALANCES
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30. 1994

EXHIBIT "D"

OPERATING REVENUES
------------------
None Recorded
OPERATING EXPENSES
------------------
Current Scholarships
Operating Income (Loss) NON-OPERATING REVENUES
----------------------
Interest Earned
Income (Loss) FUND BALANCE JULY 1
-------------------
FUND BALANCE JUNE 30

ENDOWMENT FUND
BLANCHED. CARVER FUND

TOTALS (Memorandum Only)
YEAR ENDED ---------------------------JUNE 30, 1994 JUNE 30, 1993

$

0.00 $

0.00 $

0.00

------------- ------------- -------------

$

1,092.60 $

1,092.60 $

2,900.00

------------- ------------- -------------

$ -1,092.60 $ -1,092.60 $ -2,900.00

841. 56

841.56

917.75

------------- ------------- -------------

$

-251.04 $

-251.04 $ -1,982.25

24,854.43

24,854.43

26,836.68

------------- ------------- -------------

$ 24,603.39 $ 24,603.39 $ 24,854.43
============= ============= =============

The notes to the general purpose financial statements are an integral part of this statement.
- 8-

BARTOW COUNTY BOARD OF EDUCATION STATEMENT OF CASH FLOWS
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND YEAR ENDED JUNE 30. 1994

EXHIBIT "E"

Cash Flows from Operating Activities: Cash Paid for Scholarships Net Cash Provided (Used) by Operating Activities
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

ENDOWMENT

TOTALS

FUND

(Memorandum Only)

------------- ----------------------------

BLANCHE D.

YEAR ENDED

CARVER ----------------------------

FUND

JUNE 30, 1994 JUNE 30, 1993

------------- ------------- -------------

$ -1,092.60 $ -1,092.60 $ -2,900.00
------------- ------------- -------------

$ -1,092.60 $ -1,092.60 $ -2,900.00
------------- ------------- -------------

$

1,599.82 $

1,599.82 $

93.28

------------- ------------- -------------

$

507.22 $

507.22 $ -2,806.72

------------- ------------- -------------

$ 24,014.42 $ 24,014.42 $ 26,821.14
------------- ------------- -------------

$ 24,521.64 $ 24,521.64 $ 24,014.42
============= ============= =============

The notes to the general purpose financial statements are an integral part of this statement. - 9-

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Bartow County Board ofEducation (Board) was established under the laws of the State of Georgia and
operates under the guidance cf a school board and Superintendent, both elected by the voters. With the
exception of the departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards.
The more significant of the Board's accounting policies are described below.
REPORTING ENTITY
In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity of the Bartow County Board ofEducation.
Based upon the application of the above criteria, the Bartow County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Bartow County, Georgia, excluding that area encompassed by the City of Cartersville. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards.
Board members were elected by the public and have decision making authority, the power to designate management, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rates at which school taxes are levied and may incur bonded indebtedness with voter approval.
FUND ACCOUNTING
The Board uses funds and an account group to report on its financial 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.
General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.
- 10 -

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, 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 - are used to account for all or most of a Board's general activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board of education.
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees.
FIDUCIARY FUND TYPES - the trust funds 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. These funds include:
NONEXPENDABLE TRUST FUND Blanche D. Carver 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 scholarship aid to graduating seniors ofthe Bartow County High Schools.

- 11 -

BARTOW COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1; SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES
EXPENDABLE TRUST FUND Self-Insured Employee Benefit Fund - the fund used to account for the Workers' Compensation contributions and expenditures.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and the expendable trust fund are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these 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. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group.
The nonexpendable trust fund is accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthis fund are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Governmental funds and the expendable trust fund are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe 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. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available ifthey are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end.
Expenditures are generally recognized when the related fund liability is incurred.

- 12 -

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed.
The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by 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 Bartow County Board of Education has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation.
The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated commodities, purchased food, and supply inventories as reflected on Exhibit "B" have been eliminated from fund balance.

- 13 -

BARTOW COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and savings accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement ofproceeds from bond issues in certificates of deposit is limited to financial institutions located within this State.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following:
(1) 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 Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and
(8) Obligations of other political subdivisions ofthe State of Georgia.
RECEIVABLES
Receivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed 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.

- 14 -

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PROPERTY TAXES

The Bartow County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on September 8, 1993 (levy date). Taxes were due on November 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70.103. The Bartow County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board.

Tax millage rates levied for the 1993 tax year (calendar year) for the Bartow County Board ofEducation were as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations School Bonds

16.81 mills 1.94 mills

18.75 mills

INVENTORIES

FOOD AND CONSUMABLE SUPPLIES INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods and consumable supplies inventories are reported on the Combined Balance Sheet at costs. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods and consumable supplies inventories are recorded as expenditures at the of purchase. The inventories reported on the balance sheet for donated food commodities, purchased foods and consumable supplies are equally offset by reservations of fund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.

COMPENSATED ABSENCES

Compensated absences represent obligations of the Board relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been recorded in the individual funds for the current portion ofthis obligation as this amount is deemed immaterial to the general purpose financial statements. Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded in the General LongTerm Debt Account Group as this liability is also deemed to be immaterial to the fair presentation of these financial statements.

- 15 -

BARTOW COUNTY BOARD OF EDUCATION

EXlllBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

GENERAL OBLIGATION BONDS

The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group.

INTERFUND TRANSACTIONS

The Board has the following types of interfund transactions:

Reimbursements of expenditures/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 of operations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data. Certain reclassifications have been made to the comparative data to conform to the current year classifications.

Note 2: DEPOSITS AND INVESTMENTS

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 of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral in an amount of not less than 110 percent ofthe public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.

Acceptable security for deposits consists of any one of or any combination ofthe following:

(1) 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,

- 16 -

BARTOW COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 2: DEPOSITS AND INVESTMENTS

(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or ofthe State of Georgia,

(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities ofthe State of Georgia,

(5) Bonds ofany public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use ofthe bonds for this purpose,

(6) Industrial revenue bonds and bonds of development authorities created by the laws of the 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 and debt obligations issued by the Federal Land Banlc, the Federal Home Loan Bank, the Federal Intermediate Credit Banlc, 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, 1994, the bank balances were $7,882,590.02. The amounts of the 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 Board or by the Board's agent in the Board's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board'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 Board's name.)

The Board's deposits are classified by risk category at June 30, 1994, as follows:
Risk Category 1 2 3 Total

Bank Balance
$ 482,829.51 7,397,662.22 2,098.29
$ 7,882,590.02

- 17 -

BARTOW COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 2: DEPOSITS AND INVESTMENTS
CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below:
Category 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name.
Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name.
Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name.
Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool.
At June 30, 1994, the carrying amount of the Board's total investments was $25,712,062.33 and consisted entirely offunds in the Local Government Investment Pool administered by the Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool.
Note 3: NON-MONETARY TRANSACTIONS
The Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories
Note 4: RISK MANAGEMENT
The Board has established a limited risk management program for Workers' Compensation. Estimated claims
are budgeted by management based on known claims and prior experience. During fiscal year 1994, a total
of$95,576.0l was paid in claims. An excess coverage insurance policy covers individual claims in excess of
$225,000.00.
The Board has established a limited risk management program for Unemployment Compensation. Estimated
claims are budgeted by management based on known claims and prior experience. Each fund contributes their pro rata share to the General Fund to cover Unemployment Compensation claims made during the fiscal year. During fiscal year 1994, a total of$19,553.58 was paid in claims.

- 18 -

BARTOW COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 5: GENERAL LONG-TERM DEBT

The changes in General Long-Term Debt during the fiscal year ended June 30, 1994, were as follows:

General Obligation
Bonds

Balance July 1, 1993

$ 2,380,000.00

Additions

22,965,000.00

Deductions

780,000.00

Balance June 30, 1994

$24,565,000.00

At June 30, 1994, payments due, by fiscal year which includes principal and interest for these items:

Fiscal Year Ended June 30

General Obligation
Bonds

1995 1996 1997 1998 1999 2000 and thereafter

$2,078,280.00 2,026,280.00 1,779,280.00 1,822,802.50 1,868,012.50
31,466,507.50

Total Principal and Interest

$41.041 162.50

Note 6: SIGNIFICANT COMMITMENTS

At June 30, 1994, the Board had encumbrances in the amount of $278,158.23 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. Lottery funds in the amount of $266,711.93 are available to fund these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent fiscal year. These encumbrances are identified by Lottery Program as follows:

Computers in Classrooms Media Center and Library Equipment Safe Schools Grant

$ 171,032.01 69,224.72 37,901.50
$ 278 158.23

- 19 -

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 6: SIGNIFICANT COMMITMENTS

The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1994.

Project

Unearned Executed Contracts

93/92S-608-004 01-678-008 01-678-009 01-678-010 01-678-011 01-678-012 01-678-013 01-678-014 01-678-015 01-678-016 01-678-017 01-678-018 01-678-020 01-678-021
Cass High School - Roof

$ 187,932.15 3,307,243.62 3,293,070.96
3,606,618.00 532,271.39
598,074.33 1,043,765.79
604,719.67 461,242.20 235,991.77 354,321.18 1,055,507.59 287,073.23
3,610.00 829.00

$15,572,270.88

The amounts described in this note are not reflected in the general purpose financial statements.

Note 7: CONTINGENT LIABILITIES

Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position.

Note 8: ACCUMULATED EMPLOYEES' LEAVE

Certain 12 month employees earn annual vacation leave at the rate of .833 days per month, up to ten days per year, with a maximum accumulation of30 days. These 12 month employees are paid at their current rate of pay for any unused annual vacation leave, up to the maximum accumulation upon retirement or termination of employment. See Note 1 - Compensated Absences

- 20 -

BARTOW COUNTY BOARD OF EDUCATION

EXIDBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 9: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)
TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS).
TRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years ofcreditable service, regardless of age, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number ofyears of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe 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. A 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 death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest.
The Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $22,369,725.44; total payroll was $25,903,892.63.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%.
Total contributions made during fiscal year 1994 amounted to $3,984,085.91, of which $2,641,864.82 was made by the Board and $1,342,221.09 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered payroll.

- 21 -

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 9: RETIREMENT PLANS

TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This 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. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of 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 other PERS and among other employers.

Total unfunded pension benefit obligation ofTRS as of June 30, 1993, was as follows:

Total pension benefit obligation

$13,912,014,000.00

Net assets available for benefits, at cost

12,821,722,000.00

Unfunded pension benefit obligation

$ 1,090,292 000,00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1993. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers.

Total contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of$2,641,864.82 was actuarially determined and represented .5065% of total contributions made by all participating employers.

Ten year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.

PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)

PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia.

- 22 -

BARTOW COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1994

Note 9: RETIREMENT PLANS
PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years ofservice and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. 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 provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement.
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.
There were 271 employees covered under PSERS for the year ended June 30, 1994.
PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $8,992.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00.
Note 10: SURETY BONDS
The School Superintendent, Dr. DavisR Nelson, is bonded in the amount of$100,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 58552089, on which premium is paid through January 1, 1997.

- 23 -

ASSETS
Cash and Cash Equivalents
Acccurts Receivable
Inventories Food lbiated Cann:x:lities Purchased Food 5!wly

BMTOJ CCl.NTY ~ CF Ell.CATIOO
ClM3ININJ BALN:E SlET SPECIAL REVENl FltID .l.t 30. 1994

som..
FCXD SERVICES
R.N)

LOTTERY PRoow-!S

ELBENTAAY NiJ SECXH\IIRY Ellr.ATIOO PCT

ow>TER 1

STATE

ow>TER 2

PRESOOO.. Ell.CATIOO CF Ell.CATIOO CF STATE

IWlDIC'APPED Oilt.mEN IN CEPRIVED IlflROVEJ,ENT BLCXX BWiT -

PROOWI STATE som.s OiILmEN

BWiT FLCW TIRcmJ

$ 965,366.00

$ 3,343.24$

20,069.16$ 317,486.00 3,315.24

0.00 $ 51,885.29 $ 181.90 $ 96,576.23 2,225.00

21,434.18

34,203.87 28,066.54 6,451.80

Total Assets

$1,054,157.45$ 317,486.00$ 6,658.48$

0.00 $ 148,461.52 $ 2,406.90 $ 21,434.18

LIABILITIES ANO FWD E~ITY

LIABILITIES

Cash Overdraft lcccurt:s Payable Salaries Payable Expired Grant Balarces Payable Deferred Reverue

$ 85,842.31 $ 26,062.69 228,067.76$ 6,658.48
148,254.23
3,576.01

Total Liabilities

$ 174,316.92$ 317,486.00$ 6,658.48

FltID E~ITY

Fin:l Balances

Reserved

For Cartinuatia, of Federal Program

For Inventories

Food

lbiated Cann:x:li ti es

$

Purchased Food

5!wly

34,203.87
28,066.54 6,451.80

lilreserved lh:lesi gBted

$ 68,722.21 811,118.32 $

0.00 $

0.00 $

Total Fllld Equity

$ 879,840.53$

0.00 $

0.00 $

$ 87,357.10$ 406.90 61,104.42 2,000.00
$

21,434.18

$ 148,461.52 $ 2,406.90$ 21,434.18

0.00 $

0.00 $

0.00 $

0.00

0.00 $

0.00 $

0.00 $

0.00

Total Liabilities and Fim Equity $1,054,157.45$ 317,486.00$ 6,658.48$

See rotes to the general J11rpose finarx:ial statere,ts.

- 24 -

0.00 $ 148,461.52 $ 2,406.90 $ 21,434.18

EXHIBIT "G"

TITLE II EISEN-GER
MATlMt\TI CS
NfJ scma:
EIX.CATIOO

INDIVIll.W.S Willi
DISABILITIES EIX.CATIOO la TITLE VI, B

FLCM
TtROOrl

PRESCKXl. PROOWol

ItUUSIVE
soms
PRMCT

J.NENILE

..l.lSTICE NfJ

.XE lRAININJ DELit-Q..EtCY

TOTPJ...S

PARTNERSHIP PREVENTIOO

,a

,a J..t 30, 1994 .J..t 30, 1993

$ 13,976.58$ 60,927.64

$

46.56

$1,117,161.47$ 895,704.91

B,886.00 $ 18,040.00$ 7,150.00 8,667.29$ 1,554.43 483,969.43 189,039.44

34,203.87
28,066.54 6,451.80

71,072.84
29,113.42 2,579.81

$ 13,976.58$ 69,813.64$ 18,040.00$ 7,150.00$ 8,713.85$ 1,554.43$ 1,669,853.11$ 1,187,510.42

$ $ 13,191.51 $ 12,841.84
35,205.09 21,766.71

3,126.71$ 7,150.00

2,296.67

$

5,989.31

6,627.31

$
976.85 7,737.00

1,507.01$ 47 .42

97,626.03
3n,907.22 $ 260,290.05 49,828.20
3,576.01

41,445.06 220,547.27
4,755.76

$ 13,191.51 $ 69,813.64 $ 18,040.00 $ 7,150.00 $ 8,713.85 $ 1,554.43 $ 789,227.51 $ 266,748.09

$ 785.07
$ 785.07 0.00 $
$ 785.07 $

0.00 $ 0.00 $

0.00 $ 0.00 $

0.00 $ 0.00 $

0.00 $ 0.00 $

$

785.07 $ 6,917.66

34,203.87
28,066.54 6,451.80

71,072.84
29,113.42 2,579.81

$ 69,507.28$ 109,683.73

0.00 811,118.32 811,078.60

0.00 $ 880,625.60 $ 920,762.33

$ 13,976.58$ 69,813.64$ 18,040.00$ 7,150.00$ 8,713.85$ 1,554.43$ 1,669,853.11$ 1,187,510.42

- 25 -

BARTCW ro.NTY OOoRD !F Ellr.ATIOO
CXMlINl,-j STAIDENT !F REVENLES, EXPENDITLRES AND OWS IN FlH) IW..AlCES SPECIAL REVEN\ FOO
YEM EtaD .l.t 30, 1994

REVENLES

som
FCXX)
SERVICES FLtlD

EillENTARY NlJ SECXlaiRY E!lr.ATIOO PCT

LOTTERY PRoow.ts

STATE
PREsom
twillCAPPED
PR~

Ellr.ATIOO !F OilLIREN IN
STATE soms

OW'TERl
Ell.CATIOO !F DEPRIVED OilLCREN

STATE llflROV8'ENT
~

OW'TER 2
Bl.00( ~ FUJI TI-Rcmi

State Fl.l'lds Feooral Fl.l'lds Local and Otl-er Fl.l'lds

$ 177,000.00 $400,586.07$ 89,281.00

1,402,264.76

$

1,136,767.92

2,124.00$ 758,590.93 $ 10,015.00$ 35,074.82

Total Revenues

$2,716,032.68 $400,586.07$ 89,281.00 $ 2,124.00 $ 758,590.93$ 10,015.00 $ 35,074.82

EXPENDITLRES

Current

lnstn.ci:ioo

$101,891.92 $ 84,228.23 $

Support Services

Pupil Services

2,185.24

Irrprovaie,t of Instnx:tiooal Services

2,867.53

Eci.catiooal Media Services

162,220.00

General Adninistratioo

Maintenance and Operatioo of Plant

129,432.80

Stldent Transportatioo Services

8,()138.28

r.eitral Support Services

Food Services Operatioo

$2,715,992.96

Otl-er Operations of Noo-lnstn.ci:iooal

Services

2,124.00 $ 704,027.50$ 10,015.00$
3,583.80 1,739.06
40,866.01 387.54
6,822.36 1,164.66

35,074.82

Total Experdi tures

$2,715,992.96 $401,643.00 $ 89,281.00 $ 2,124.00 $ 758,590.93$ 10,015.00 $ 35,074.82

Excess of Reve,ues over (IJ'lder) Experdi tures $

39.72 $ -1,056.93 $

0.00 $

0.00 $

0.00 $

0.00 $

0.00

OTl-fR FINAf:1,-j 50..RCES

Operating Transfers In

1,056.93

Excess of Reve,ues and Otl-er Financing

Sources over (IJ'lder) Experditures

$

39.72 $ 0.00 $

0.00 $

0.00 $

0.00 $

0.00 $

0.00

FOO BAI..AtCE .llY l

913,844.67

0.00

0.00

0.00

0.00

0.00

0.00

Food Inventory Cb1aMl Ccmrodities July l ,l,re 30
Purchasai Food
July l ,l,re 30
5lwly Inventory July l ,l,re 30

-68,587.14 34,203.87
-31,599.12 28,066.54
-2,579.81 6,451.80

FOO BAI..AtCE JU 30

$ 879,840.53 $ 0.00 $

0.00 $

0.00 $

0.00 $

0.00 $

0.00

See notes to tl-e general purp:>se financial statamnts.

- 26 -

EXHIBIT ''H''

TITLE II EISE~ Mt\TifWITICS NfJ SCIEtCE Ell.CATIOl

INDIVICX.W..S WITH
DISABILITIES Ell.CATIOl N::f TITLE VI, B

FUJJ TtRO.ai

PREsetm.. PRCX:RAM

IICLUSIVE setm..S' PRCU:CT

.XE TRAINit> PAATNERSHIP
N::f

J.NENILE

TOTALS

.JJSTICE NiJ

CE.ItQ.ENCY

YEAA EtD

PREVENTICJl

N::f .l.NE 30, 1994 J..t 30, 1993

$ fHi,Bi,7.07 $ 234,755.00 $ 20,447.61$ 340,119.29$ 71,013.69$ 7,150.00$ 39,381.23$ 5,000.00 2,691,181.33 2,477,f!fJ7.73
1,136,767.92 1,121,768.98
$ 20,447.61 $ 340,119.29$ 71,013.69 $ 7,150.00$ 39,381.23 $ 5,000.00$ 4,494,816.32 $ 3,834,421.71

$ 165,279.28$ 55,930.26

$1,158,571.01$ 921,147 .Bi,

$ 26,580.20

98,067.33 38,223.43
38,549.25

15,309.91 $ 9,550.00

$ 12,393.76

131,540.04 78,960.22 162,220.00 79,415.26 129,820.34 14,920.64 1,164.66 2,715,992.96

123,654.62 75,198.35
98,281.21
4,478.24 16,913.72 2,362,441.45

$ 39,457.19

39,457.19 25,458.01

$ 26,580.20$ 340,119.29 $ 71,240.17$ 9,550.00$ 39,457.19 $ 12,393.76$ 4,512,062.32$ 3,627,573.46

$ -6,132.59 $

0.00 $ -226.48 $ -2,400.00 $

-75.96 $ -7,393.76 $ -17,246.00 $ 206,848.25

$ -6,132.59 $ 6,917.66

226.48 2,400.00

75.96 7,393.76 11,153.13 19,187.44

0.00 $ 0.00

0.00 $ 0.00

0.00 $ 0.00

0.00 $ 0.00

0.00 $ -6,092.87 $ 226,035.69 0.00 920,762.33 624,510.10

-68,SB7.14 34,203.87
-31,599.12 28,066.54
-2,579.81 6,451.80

68,587.14
-31,262.00 31,599.12
-l,2Bl,.64 2,579.81

$

785.07 $

0.00 $

0.00 $

0.00 $

0.00 $

0.00 $ 880,625.60$ 920,762.33

- 27 -

ASSETS
Cash and Cash Equivalents Investments Accounts Receivable

BARTOW COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30 1 1994

EXHIBIT "I"

REGULAR

1993/1994 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT 93/92S-608-004

TOTALS ---------------------------JUNE 30, 1994 JUNE 30, 1993

$

0.00

$ 478,347.89 $ 478,347.89 $ 15,557.70

$22,101,582.66

22,101,582.66

86,814.10

352,866.80 439,680.90 627,369.00

Total Assets

$

0.00 $22,188,396.76$ 831,214.69 $23,019,611.45 $ 642,926.70

=========== ============ ============ ============= =============

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft Accounts Payable Contracts Payable Retainages Payable

Total Liabilities

FUND EQUITY

Fund Balances

Reserved

For Purposes of Bond Issue

Unreserved

Undesignated

$

Total Fund Equity

$

$ 2,226,442.07 57,594.41 $
2,036,350.74 419,108.69

$ 2,226,442.07 109,002.98 166,597.39 $ 152,533.16 2,188,883.90 569,678.55 988,787.24

485.00 446,187.70 196,254.00

$ 4,739,495.91 $ 831,214.69 $5,570,710.60$ 642,926.70

$17,448,900.85

0.00

0.00 $

0.00 $17,448,900.85$

$17,448,900.85

0.00

0.00 $

0.00

0.00 $17,448,900.85$

0.00

Total Liabilities and Fund Equity $

0.00 $22,188,396.76$ 831,214.69 $23,019,611.45 $ 642,926.70

=========== ============ =========== ============ =============

See notes to the general purpose financial statements. - 28 -

BARTOW COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30. 1994

EXHIBIT "J"

REVENUES

REGULAR

1993/1994 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT 93/92S-608-004

TOTALS
---------------------------YEAR ENDED
---------------------------JUNE 30, 1994 JUNE 30, 1993

State Funds Local and Other Funds

$ 1,566,131.00$ 1,566,131.00$ 1,962,537.00

$

0.00 $ 538,970.84

538,970.84

485.00

Total Revenues

$

0.00 $ 538,970.84$ 1,566,131.00 $ 2,105,101.84 $1,963,022.00

EXPENDITURES

Current Support Services Business Administration Bond Issuance Cost
Capital Outlay Land and Land Improvements Building and Building Improvements Equipment

$ 216,576.03

$ 216,576.03

$

3.00 827,618.13 $ 21,293.15 848,914.28$ 412,094.09

2,117.15 4,861,603.33 3,707,384.05 8,571,104.53 2,257,351.82

4,025.00

Total Expenditures

$ 2,120.15$ 5,905,797.49 $ 3,728,677.20 $9,636,594.84 $ 2,673,470.91

Excess of Revenues over (under) Expenditures$ -2,120.15 $-5,366,826.65 $ -2,162,546.20 $-7,531,493.00 $ -710,448.91

OTHER FINANCING SOURCES

Proceeds fran General Obligation Bonds

Par Value

$22,965,000.00

$22,965,000.00

Discount on Bonds Sold

-149,272.50

-149,272.50

Operating Transfers In

$ 2,120.15

$ 2,162,546.20 2,164,666.35$ 658,616.79

Total Other Financing Sources

$ 2,120.15 $22,815,727.50$ 2,162,546.20 $24,980,393.85 $ 658,616.79

Excess of Revenues and Other Financing

Sources over (under) Expenditures

$

FUND BALANCE JULY 1

0.00 $17,448,900.85$

0.00

0.00

0.00 $17,448,900.85 $ -51,832.12

0.00

0.00

51,832.12

FUND BALANCE JUNE 30

$

0.00 $17,448,900.85$

0.00 $17,448,900.85 $

0.00

============= ============= ============ ============ =============

See notes to the general purpose financial statements.

- 29 -

ASSETS
Cash and Cash Equivalents Accounts Receivable

BARTOW COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPE JUNE 30, 1994

EXHIBIT "K"

EXPENDABLE TRUST FUND

SELF-INSURED NONEXPENDABLE EMPLOYEE TRUST FUND BENEFIT FUND

BLANCHED. CARVER FUND

WORKERS' COMPENSATION
FUND

TOTALS ---------------------------JUNE 30, 1994 JUNE 30, 1993

$ 24,521.64 $ 212,796.27 $ 237,317.91 $ 329,390.45

81. 75

81. 75

840.01

Total Assets
FUND EQUITY
Fund Balances Reserved For Endowment Corpus Unreserved Undesignated

$ 24,603.39 $ 212,796.27 $ 237,399.66 $ 330,230.46
============= ============= ============= =============

$ 20,946.04

$ 20,946.04 $ 20,946.04

3,657.35 $ 212,796.27

216,453.62

309,284.42

Total Fund Equity

$ 24,603.39 $ 212,796.27 $ 237,399.66$ 330,230.46
============= ============= ============= =============

See notes to the general purpose financial statements. - 30 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30, 1994

SCHEDULE "1" Page 1

FUNDING AGENCY PROGRAM/GRANT

FEDERAL FUNDS

RECEIVED IN

FEDERAL

CFDA AWARDS

PERIOD (NET

REVENUE EXPENDITURES

NUMBER

IN PERIOD
-------------

OF REFUNDS)
-------------

IN PERIOD
-------------

---IN---P-E-R-IO-D---

Agriculture, U. S. Departrrent of Direct Sl.lllller Food Service Program for Children Through Georgia Department of Education Food and Nutrition Program Child and Adult Care Food Program 1994 Contract Food Services School Breakfast Program 1993 Grant 1994 Grant National School Lunch Program 1993 Grant 1994 Grant Food Distribution Program (1)

10.559 $ B,325.00 $ B,325.00 $ 8,325.00

(2)

10.558

11,209.04

11,209.04

11,209.04

(2)

10.553

1,986.12

10.553 289,174.14 284,405.95 . 289,174.14

(2)

*10.555

7,386.49

*10.555 906,804.11 897,840.14 906,804.11 $ 2,529,240.49(3)

10.550 186,752.47

N/A

186,752.47 186,752.47

------------- ------------- ------------- -------------

Total U. S. Department of Agriculture

$1,402,264.76$ 1,211,152.74
------------- -------------

$-1-,-4-0-2-,-2-6-4--.7-6-

$--2-,7-1--5-,9-9--2-.9-6-

Education, U. S. Departrrent of

Direct

P. L. 81-874

1994 Grant

84.041 $

Through Georgia Department of Education

Elementary and Secondary Education Act

Chapter 1

Education of Children in State Schools

1994 Regular

84.009

Education of Deprived Children

1992 Carry-Over

*84.010

1993 Regular

*84.010

1993 Summer

*84.010

1993 Carry-Over

*84.010

1994 Regular

*84.010

1994 Summer

*84.010

State Program Improverrents

1993 Regular

84.218

1994 Regular

84.218

Chapter 2

Block Grant - Flow Through

1993 Regular

84 .151

1994 Regular

84.151

Title II

Eisenhower Mathematics and Science

Education

1993 Regular

84.164

1994 Regular

84.164

Individuals with Disabilities Education Act

Title VI, B

Flow Through

1993 Regular

*84.027

1993 Carry-Over

*84.027

1994 Regular

*84.027

Preschool Program

1992 Carry-Over

84 .173

1993 Regular

84 .173

1993 Carry-Over

84 .173

1994 Regular

84.173

Vocational Education - Basic Grants to States

High School Program

Basic Grant

1993 Grant

84.048

1994 Grant

84.048

Consurrer and Homemaking Education

1993 Contract

84.049

1994 Contract

84.049

Tech-Prep Education

1993 Grant

84.243

1994 Grant

84.243

Through Hall Countr Board of Education

d/b/a Piednont Migrant Education Agency

Elementary and Secondary Education Act

Chapter 1

Migratory Education Program

1993 Regular

84.011

7,457.00$
2,124.00 114,512.00 43,480.00 66,547.00 546,835.00 97,360.00 10,015.00 56,509.00
23,624.00
31,322.00 330,564.00
280.00 77,361.00
65,672.00 100.00
32,151.00

7,457.00$
2,124.00 114,512.00 42,469.08 38,955.70 66,547.00 442,000.00
-356.02 7,790.00 55,356.24 56,509.00 22,743.00 23,624.00 39,595.15 28,000.00 325,000.00 5,780.00 2,861.29
280.00 59,321.00 29,486.32 6,000.00 43,021.24
-94.30

7,457.00
2,124.00$ 114,512.00 38,955.70 66,547.00 535,611.12
2,965.11 10,015.00 35,074.82 -3,176.39 23,624.00
31,322.00 308,797.29
280.00 70,733.69
65,672.00 100.00
32,151.00

(5)
2,124.00 114,512.00 38,955.70 66,547.00 535,611.12
2,965.11 10,015.00 35,074.82 3,741.27 22,838.93
31,322.00 308,797.29
280.00 70,960.17(3)
(4) (4) (4)

Total U. S. Department of Education

$1,505,913.00$ 1,418,981.70$ 1,342,765.34 $1,243,744.41

- 31 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30, 1994

SCHEDULE "l" Page 2

FUNDING AGENCY PROGRAM/GRANT

CFDA NUMBER

AWARDS IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD (NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Energy, U. S. Department of

Through Office of the Governor

Energy Conservation for Institutional Buildings

1993 Grant 92-E-435080

81.052

1994 Grant 92-E-435080

81.052 $

$ 124,345.92

52,713.47 80,293.34 $ 124,345.92 $ 214,681.93 (3)

Total U. S. Department of Energy

$ 124,345.92 $ 133,006.81 $ 124,345.92 $ 214,681.93

Health and Human Services, U. S. Department of Through Georgia Department of Human Resources Developmental Disabilities Basic Support and Advocacy Grant Inclusive Schools' Project 1994 Grant

93.630 $

7,150.00

$ 7,150.00 $ 9,550.00(3)

Justice, U. S. OeJJ<!rtment of

Through Office of the Governor

Juvenile Justice and Delinquency Prevention Act

In-School Probation

1993 Contract

16.540

1994 Contract

16.540 $

$ 5,000.00

2,574.72 3,445.57 $

$

993.15(3)

5,000.00

11,400.61(3)

Total U. S. Department of Justice

$ 5,000.00 $ 6,020.29 $ 5,000.00$ 12,393.76

Labor, U. S. Department of Through Coosa Valley Regional Development Center Job Training Partnership Act 17-91-20-001 17-92-20-001 17-93-20-001

17.250

$ -1,812.17

17.250

36,508.02 $ 30,713.94$ 30,713.94

17.250 $ 30,135.00

8,667.29

8,743.25(3)

Total U. S. Department of Labor

$ 30,135.00$ 34,695.85$ 39,381.23 $ 39,457.19

Total Federal Financial Assistance

$=3=,=0=7=4=,=8=0=8=.=6=8$=2=,=8=0=3=,8=5=7=.=3=9 $=2-,-9==2=0=,=9=0=7=.=2=5$==4=,2=3==5=,8=2==0=.2=5=

Major Programs are identified by an asterisk (*) in front of the CFDA number.

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated cCJ1T110dities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the School Breakfast Program, the S1.11111er Fooa Service for Children and the Child ana Adult Care Food Program were not maintained separately and are included in the 1994 National School Lunch Program.
(3) Expenditures for this program include State, ana/or Local and Other Funds. Expenditures are not maintained by fund source.
(4 ) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures.

See notes to the general purpose financial statements. - 32 -

BARTOW COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH EQUIVALENTS
JUNE 30, 1994

SCHEDULE "2"

INTEREST BEARING ACCOUNTS

Bank of Adairsville, Adairsville, Georgia
Checking Account (2.94%)
Bartow County Bank, Cartersville, Georgia
Checking Account (3.00%)
First Community Bank and Trust, Cartersville, Georgia
Checking Account (3.73%) Checking Account (2.75%) Checking Account (3.73%) Money Market Account (3.50%)

NationsBank, Rome, Georgia
Checking Account (2.45%) Checking Account (1.95%) Certificate of Deposit No. 8001

(3.40%)

Wachovia Bank of Georgia, N.A. Cartersville, Georgia
Checking Account (1.50%) Checking Account (1.50%)

$ 82,829.51

186,989.42

$1,205,854.66 101,920.55 632,459.98 255,983.68

2,196,218.87

$ 281,268.58 4,508.14 20,013.50

305,790.22

$ 6,596.27 212,872.61

219,468.88

$ 2,991,296.90
=============

See notes to the general purpose financial statements. - 33 -

BARTOW COUNTY BOARD OF EDUCATION INVESTMENTS
JUNE 30. 1994
INVESTMENT POOL
Office of Treasury and Fiscal Services Local Government Investment Pool (4.237%)

SCHEDULE "3"
$25,712,062.33
=============

See notes to the general purpose financial statements. - 34 -

BARTOW COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1994

SCHEDULE "4"

Bartow County Tax CCJ1111issioner County Wide Bond Tax County Wide School Tax

GOVERNMENTAL FUND TYPES

FIDUCIARY

-------------------------------------------------- FUND TYPE

SPECIAL

CAPITAL

DEBT -------------

GENERAL

REVENUE PROJECTS

SERVICE NONEXPENDABLE

FUND

FUND

FUND

FUND

TRUST FUNDS

TOTAL

----------- ----------- ----------- ----------- ------------- ------------

$181,249.42

$ 20,424.85

$ 20,424.85 181,249.42

Coosa Valley Regional Development
Center Job Training Partnership Act

$ 8,667.29

8,667.29

Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Funds Federal Funds lottery Programs
Distant learning Media Center and Library
Equipment Safe Schools Grant Federal Programs ESEA - Chapter 1
Education of Deprived Children State Improvement Grant
Individuals with Disabilities Education Act
Title VI, B Flow Through Preschool Program

4,768.19 8,963.97 36,401.00 97,923.00 14,000.00 161,220.00 137,531.08
96,576.23 2,225.00
8,886.00 18,040.00

4,768.19 8,963.97 36,401.00 97,923.00 14,000.00 161,220.00 137,531.08
96,576.23 2,225.00
8,886.00 18,040.00

Etowah Education Foundation Reimbursement for Salary and Related Employee Benefit Costs

12,203.93

12,203.93

Georgia State Financing and Investment Comnission Reimbursement on Construction Projects

$ 352,866.80

352,866.80

Georgia Public Telecomnunication
CCJ1111ission Lottery Program Distant learning

4,735.00

4,735.00

Governor, Office of the Energy Conservation for
Institutional Buildings Juvenile Justice and Delinquency
Prevention Act In-School Probation

44,052.58

1,554.43

44,052.58 1,554.43

Hl.lllan Resources, Georgia Department of Inclusive Schools' Project

7,150.00

7,150.00

Various Sources Interest Earned
Other

15,153.86

77,997.63

$

81.75 93,233.24

25,914.43 9,652.24 8,816.47

44,383.14

----------- ----------- ----------- ----------- ------------- ------------

$ 412,898.22 $ 483,969.43 $439,680.90$ 20,424.85$

81.75 $1,357,055.15

=========== =========== ========= =========== ============= ===========

See notes to the general purpose financial statements. - 35 -

BARTOW COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30 1 1994

PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30
--------------
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
CHANGES IN GENERAL LONG-TERM DEBT
Bonds Payable at July 1, 1993 Bonds Issued During Period Bonds Retired During Period
Bonds Payable at June 30, 1994
MATURITY DATES
Semi-Annual Interest Payment Dates Annual Debt Retirement Date

TOTAL

DEBT

TOTAL

TOTAL

SERVICE

INTEREST

PRINCIPAL

------------- ------------- -------------

$2,078,280.00$ 1,278,280.00$ 2,026,280.00 1,226,280.00 1,779,280.00 1,174,280.00 1,822,802.50 l,152,B02.50
1,868,012.50 1,128,012.50

800,000.00 800,000.00
605,000.00 670,000.00
740,000.00

1,914,522.50 1,961,515.00
2,018,925.00 2,070,860.00 2,082,035.00

1,099,522.50 1,066,515.00
1,028,925.00 985,860.00
937,035.00

815,000.00 895,000.00 990,000.00 1,085,000.00
1,145,000.00

2,099,365.00 2,108,615.00 2 , 118, 080. 00 2,127,360.00
2,141,040.00

884,365.00 823,615.00
758,080.00 687,360.00 611,040.00

1,215,000.00 1,285,000.00
1,360,000.00 1,440,000.00
1,530,000.00

2,148,830.00 2,156,205.00 2,162,880.00 2,173,570.00
2,182,705.00
-------------

523,830.00 431,205.00
332,880.00 228,570.00
117,705.00
-------------

1,625,000.00 1,725,000.00 1,830,000.00 1,945,000.00
2,065,000.00
-------------

$41,041,162.50 $16,476,162.50 $24,565,000.00
============= ============= =============

TOTAL

1974 ISSUE

$2,380,000.00$ 2,380,000.00

22,965,000.00

780,000.00

780,000.00

$24,565,000.00$ 1,600,000.00
============= =============

MAY 1 - NOV 1 MAY 1

See notes to the general purpose financial statements. - 36 -

SCHEDULE "5"

1974 ISSUE

INTEREST

PRINCIPAL

1993 ISSUE

INTEREST

PRINCIPAL

1994 ISSUE

INTEREST

PRINCIPAL

$ 104,000.00 $ 800,000.00$ 884,365.00

52,000.00

800,000.00

884,365.00

884,365.00

884,365.00

884,365.00

$ 289,915.00

289,915.00

289,915.00$ 605,000.00

268,437.50

670,000.00

243,647.50

740,000.00

884,365.00 884,365.00 884,365.00 884,365.00
884,365.00

215,157.50 182,150.00 . 144,560.00 101,495.00 52,670.00

815,000.00 895,000.00
990,000.00 1,085,000.00
1,145,000.00

884,365.00 $ 1,215,000.00 823,615.00 1,285,000.00 758,080.00 1,360,000.00 687,360.00 1,440,000.00 611,040.00 1,530,000.00

523,830.00 431,205.00 332,880.00 228,570.00
117,705.00

1,625,000.00 1,725,000.00
1,830,000.00 1,945,000.00 2,065,000.00

$ 156,000.00 $1,600,000.00 $14,242,300.00 $16,020,000.00$ 2,077,862.50$ 6,945,000.00
============= ============= ============= ============= ============= =============

1993 ISSUE

1994 ISSUE

$16,020,000.00$ 6,945,000.00

$16,020,000.00 $ 6,945,000.00
============= =============

MAY 1 - NOV 1 MAY 1 - NOV 1

MAY 1

MAY 1

- 37 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1994

SCHEDULE "6"

AGENCY/FUNDING

GOVERNMENTAL FUND TYPES

GENERAL FUND

SPECIAL
REVENUE FUND

CAPITAL
PROJECTS FUND

TOTAL

GRANTS Education, Georgia Department of
Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs
Indirect Cost Pupil Transportation
Regular Bus Replacement
Middle School Incentive Special Instructional Assistance
In-School Suspension Mid-term Adjustment
Local Fair Share Educational Equalization Funding Grant Food Services
Vocational Education Other State Programs
Innovative Programs
Mentor Teacher Program Preschool Handicapped Program
Supervision and Assessment of Student and Beginning Teachers
and Performance-Based Certification Lottery Programs
Algebra Classrooms Computers in Classrooms Distant Learning Media Center and Library Equipment
Safe Schools Grant

$14,271,230.00 2,392,325.00 296,209.00 624,842.00 204,211.00 4,253,598.00
983,096.00 307,948.00 500,652.00 964,313.00 162,325.00 680,671.00 -3,791,780.00 1,179,065.00
$ 124,973.00
4,800.00 240.00
1,200.00

Financing and Investment Commission, Georgia State Reimbursement on Construction Projects

Georgia Public Telecommunication Commission Lottery Program Distant Learning

OTHER Education, Georgia Department of Reimbursement for Computer Supplies

3,000.00

Governor, Office of the Disaster Relief Funds

2,483. 00

177,000.00
89,281.00
4,632.00 78,467.99 14,000.00 161,220.00 137,531.08

$14,271,230.00 2,392,325.00 296,209.00 624,842.00 204,211.00 4,253,598.00
983,096.00 307,948.00 500,652.00 964,313.00 162,325.00 680,671.00 -3,791,780.00 1,179,065.00 177,000.00 124,973.00
4,800.00 240.00
89,281.00
1,200.00
4,632.00 78,467.99 14,000.00 161,220.00 137,531.08

$1,566,131.00 1,566,131.00

4,735.00

4,735.00

3,000.00 2,483. 00

$23,165,401.00$ 666,867.07 $1,566,131.00 $25,398,399.07
============= ============= ============ =============

See notes to the general purpose financial statements. - 38 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE
YEAR ENDED JUNE 30, 1994

SCHEDULE "7"

GOVERNMENTAL FUND TYPES

------------------------------------------------------

GENERAL

SPECIAL REVENUE

CAPITAL PROJECTS

DEBT SERVICE

FUND

FUND

FUND

FUND

FIDUCIARY
FUND TYPE ----------EXPENDABLE TRUST FUND

TOTAL

Taxes County Wide Bond Tax County Wide School Tax Rail road Car Tax Real Estate Transfer Tax
Other Antitrust Milk Settlement Ccxnpensation for Loss of Assets Donations Interest Earned Rents Revenue in Lieu of Taxes National Flood Control Funds Sales Breakfast and Lunch School Assets Tuition Other

$13,129,047.14 359.38
47,775.15

$1,892,650.94
41.27 5,485.89

$1,892,650.94 13,129,047.14
400.65 53,261.04

$ 34,575.81
309,852.57 20,149.60

5,241.91
$ 47,805.00 27,083.48 491,165.84

35,463.73

1,104,442.53 105,863.70 93,787.34 158,429.98

52,249.25$ 4,831.02

5,241.91 34,575.81 47,805.00 885,182.16 20,149.60

35,463.73

1,104,442.53 105,863.70 93,787.34 158,429.98

$13,935,304.40 $1,136,767.92 $ 538,970.84 $1,950,427.35$ 4,831.02 $17,566,301.53
============= ============ =========== ========== =========== =============

See notes to the general purpose financial statanents. - 39 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1994

SCHEDULE "8"

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Insurance Communications Commodity Hauling Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Other Expenditures
Nonoperating Costs Equipment
Total Expenditures

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$24,078,182.56$ 1,825,710.07 $25,903,892.63

6,370,829.20

425,597.00 6,796,426.20

124,600.79

23,842.13

148,442.92

73,522.98

105,454.48

178,977.46

25,796.42

25,796.42

225,020.68

225,020.68

1,076,756.57

45,655.05 1,122,411.62

10,577.98

10,577.98

80,470.84

80,470.84

115,149.14

24.34

115,173.48

10,405.92

10,405.92

38,236.61

3,666.50

41,903.11

1,068,064.44 360,623.58 1,428,688.02

1,318,637.07

1,318,637.07

1,201,710.87 1,201,710.87

365,593.62

29,775.28 395,368.90

54,553.58

10,052.87

64,606.45

58,089.96

58,089.96

46,320.67

2,825.27

49,145.94

591,707.71

466,718.96 1,058,426.67

$35,722,110.82 $ 4,512,062.32 $40,234,173.14
============= ============= =============

See notes to the general purpose financial statements. - 40 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITUl.ES BY OBJECT
LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1994

SCHEDULE "9"

EXPENDITURES

ALGEBRA
CLASSROOMS
----------

COMPUTERS IN
CLASSROOMS
----------

DISTANT
LEARNING
----------

MEDIA CENTER
AND LIBRARY
EQUIPMENT
------------

SAFE SCHOOLS
GRANT
----------

G.P.T.C. DISTANT
LEARNING
----------

TOTAL
-----------

Operating Costs Professional and Technical Services Supplies
Nonoperating Costs Equipment

$ 4,685.95 $ 6,149.79

$ 22,173.00 13,252.00$ 15,451.30

$ 22,173.00 39,539.04

72,318.20$ 15,000.00 125,795.00 122,079.78 $ 4,737.98 339,930.96

Total Expenditures

$ 4,685.95$ 78,467.99 $15,000.00$ 161,220.00 $137,531.08$ 4,737.98 $ 401,643.00
---------- ---------- --------- ----------- -- ,------- ---------- -----------

See notes to the general purpose financial statements. - 41 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUND
YEAR ENDED JUNE 30. 1994
EXPENDITURES
Operating Costs Administrative Fees Workers' Compensation Claims Insurance
Total Expenditures

SCHEDULE "1 O"
$ ll ,4B2 .31 95,576.01 40,352.46
$ 147,410.78

See notes to the general purpose financial statements. - 42 -

BARTOW COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1994

SCHEDULE "11"

Minimum Expenditure Requirements (Total Allotment)
Expenditures on Combined Program Basis Salaries Operations
Less: Expenditures for Media Center Programs in Excess of Total Media Allotment Expenditures for Staff Development Programs in Excess of Total Staff Development Allotment for: Cost of Instruction
Expenditures per Audit
Amount of Underexpenditure for Total Allotment

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

STAFF DEVELOPMENT
PROGRAM

$18,265,277.00 $ 204,211.00

$21,039,586.37 935,779.88$ 207,837.60
$21,975,366.25$ 207,837.60 -304,586.70 -88,402.01
$21,670,779.55$ 119,435.59

$

0.00 $ 84,775.41

See notes to the general purpose financial statements. - 43 -

BARTOW COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1994

GENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades l - 3 (*) Sub-Total - K-3 Grades 4 - 5 (*) Grades 6 - B (*) Grades 9 - 12 (*) High School Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs
SPECIAL EDUCATION PROGRAMS
ReCgautleagr oPryrogIra(m*sl
Category II ( ) Category III (*) Category IV (*) Itinerant Supplemental Speech
Sub-Total - Regular Category V (Gifted) (*)
Total Special Education Programs REMEDIAL EDUCATION PROGRAM(*) MEDIA CENTER PROGRAMS

ALLOTMENTS RFREOQMUIRDEEDPARTMENT OF EDUCATION IOIAL

ORIGINAL _%_

ORIGINAL

MID-TERM

REQUIRED

$1,604,732.00 4.209.136.00
$ 5,813,868.00 90 1,904,930.00 90 3,196,047.00 90 1,797,424.00 90 753,674.00 90 805,287.00 90
$14,271.230.00

$1,444,258.80 3.788.222.40 $
$5,232,481.20$ 1,714,437.00 2,876,442.30 1,617,681.60 678,306.60 724,758.30
$12,844,107.00$

$1,444,258.80 680.671.00 4,468,893.40 680,671.00$ 5,913,152.20
1,714,437.00 2,876,442.30 1,617,681.60
678,306.60 724,758.30
680.671.00 $13.524,778.00

$ 2,283,849.00

$ 2,055,464.10 $

0.00 $ 2,055,464.10

$ 2,283,849.00 90 108,476.00 90
$ 2,392,325.00 $ 296.209.00 90 $ 624,842.00 90

$2,055,464.10$ 97,628.40
$ 2,153,092.50 $ $ 266.588.10 $ $ 562,357.80$

0.00 $ 2,055,464.10 97.628.40
0.00 $ 2.153.092.50 0.00 $ 266.588.10 0.00 $ 562,357.80

Total Thirteen Weighted and Media Center $17.584.606.00

$15,826.145.40 $ 680,671.00 $16,506,816.40

STAFF DEVELOPMENT PROGRAMS (1) Cost of Instruction Professional Oevelopnent

$ 69,647.50 100 $ 69,647.50$

134.563.50 100

134,563.50

0.00 $ 69,647.50 134,563.50

Total Staff Development

$ 204,211.00 $17.788.817 .00

$ 204 211.00 $_ _ _ _0_.0.,0 $ 204 211.00

1

1

$16.030.356.40 $ 680.671.00 $16.711.027.40

(*) Identifies Thirteen Weighted Programs.

Note: (1) $23,746.50 of the allotment for Professional Development has been transferred to Cost of Instruction as authorized by OCGA 20-2-182.

See notes to the general purpose financial statements. - 44 -

SCHEDULE "12"

REQUIRED ALLOTMENT

S~[IIRIES ACTUAL

DISTRIBUTION BY RESPECTIVE PORTIONS

AMoORl OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

REQUIRED ALLOTMENT

ol'ERJ'i I IORS ACTUAL

AMoOR! OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$1,407,244.50 $ 2,034,268.33

$ 37,014.30$ 25,656.86

4,351,053.70 4,489,270.46

117,839.70

1~9,591.68

$5,758,298.20$ 6,523,538.79 $

0.00

$ 154,854.00 $ 155,248.54$

0.00

1,662,513.30 2,415,164.48

0.00

51,923.70

57,510.93

0.00

2,792,092.50 4,042,221.41

0.00

84,349.80

84,638.40

0.00

1,547,248.50 2,431,712.06

0.00

70,433.10

86,990.49

0.00

648,889.20

692,354.17

0.00

29,417.40

29,927.03

0.00

631,630.80 1,082,172.97

0.00

93,127.50

307,514.77

0.00

$13,040,672.50$ 17,187,163.88$

0.00

$ 484,105.50$ 721,830.16 $

0.00

$ 288,533.70 $ 305,673.30
1,279,779.30 97,395.30

946,079.73 608,406.59 663,351.17 197,851.82
9,991.00 18 .188 .00

$ 14,593.50$ 6,456.60 34,381.80 3,289.50

16,621.82 9,168.74 32,444.76
500.85

$1,971,381.60$ 2,443,868.31 $

0.00

$ 58,721.40 $ 58,736.17 $

0.00

94,961.70

173,158.81 $

0.00

2,666.70

7 454.57 $

0.00

$ 2,066,343.30 $ 2,617,027.12

$ 61,388.10 $ 66,190.74

$ 261,985.50$ 440,557.68$

0.00

$ 4,602.60$ 13,167.97 $

0.00

$ 437,918.40$ 794,837.69 $

0.00

$ 124,439.40$ 134,591.01 $

0.00

$1518061919.70 $ 211039.586.37 $

0.00

$ 6741535.60 $ 935,779.88 $

0.00

$15 1806 1919.70 $ 21,039.586.37 $_ _ _==-o....o_o

$ 69,647.50$ 134,563.50

158,049.51 $ 49,788.09

0.00 84 775.41

$ 204,211.00$ 201 1837. 60 $_ _ _8..,4.,,.7.7...,5..,4....,1 $ 878J46.60 $ 1,143 1617.48 $_ _ _8_4.1.,7_,7..,5..,.4_,1

- 45 -

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30, 1994

SCHEDULE "13"

BOARD MEMBER ADDRESS
Mr. Larry Ferguson, Chairman (*) 98 Adair Hollow Road, N. W. Adairsville, Georgia 30103
Mr. Tony Kincannon(*) 150 Gaddis Road, N. W. Cartersville, Georgia 30120
Mrs. Marlene Layton (*) P. 0. Box 922 Cartersville, Georgia 30120
Mrs. Marsha Lee(*) 131 Sullens Road Cartersville, Georgia 30120
Mrs. Lawanda Martin(*) 443 Martin Road, S. W. Cartersville, Georgia 30120

COMPENSATION

TRAVEL

$ 4,000.00 $

394.34

4,000.00

1,706.66

5,050.00

1,323.98

4,300.00

706.10

3,600.00

715.34

$ 20,950.00 $ 4,846.42

(*) Denotes Board Members Serving as of June 30, 1994

See notes to the general purpose financial statements. - 46 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 3, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Bartow County Board ofEducation
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Bartow County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated April 3, 1995. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
Compliance with laws, regulations, contracts, and grants applicable to Bartow County Board of Education is the responsibility ofthe Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.

94CRL-10

The results ofour tests indicate that, with respect to the items tested, the Bartow County Board of Education complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Board had not complied, in all material respects, with those provisions.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-10

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 3, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Bartow County Board ofEducation

SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Bartow County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated April 3, 1995. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have applied procedures to test the Bartow County Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1994:

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

Our procedures were limited to the applicable procedures described in the Office of Management and Budget's "Compliance Supplement for Single Audits of State and Local Governments" and other additional procedures as deemed necessary. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion.

94CRL-40

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not tested, nothing came to our attention that caused us to believe that Bartow County Board of Education had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
~z~
r Claude L. Vickers State Auditor
CLV:cm 94CRL-40

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 3, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Bartow County Board ofEducation

SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Bartow County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated April 3, 1995.. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have also audited the Bartow County Board ofEducation's compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

(2) Eligibility
(3) Matching, Level ofEffort, and/or Earmarking

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1994. The management of the Bartow County Board ofEducation is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

94CRL-80

Except as discussed in the following paragraph, we conducted our audit of compliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Bartow County Board of Education's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. However, this matter has no affect on the Board's compliance with the requirements listed in the second paragraph of this report.
In our opinion, the Bartow County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1994.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-80

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 3, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Bartow County Board ofEducation

SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Bartow County Board of Education as of and for the year ended June 30, 1994, and have issued our report thereon dated April 3, 1995. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

In connection with our audit ofthe fiscal year 1994 general purpose financial statements of the Bartow County Board of Education and with our consideration of the Board's internal control structure used to administer Federal financial assistance programs, as required by Office ofManagement and Budget (0MB) Circular A128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1994. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(2) Eligibility

Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the Bartow County Board ofEducation's compliance with these requirements. Accordingly, we do not express such an opinion.

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing

94CRL-120

came to our attention that caused us to believe that the Bartow County Board of Education had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94CRL-120

SECTION Ill INTERNAL CONTROL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 3, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Bartow County Board ofEducation
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Bartow County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated April 3, 1995. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
In planning and performing our audit ofthe general purpose financial statementsofthe Bartow County Board of Education for the year ended June 30, 1994, we considered the internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion ori the general purpose financial statements and not to provide assurance on the internal control structure.
The management of the Bartow County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute,
94ICL-3

assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.

For the purposes of this report, we have classified the significant internal control structure policies and procedures in the following categories:

(1) Cash and Cash Equivalents (2) Investments (3) Inventories (4) Revenue/Receivables/Receipts (5) Procurement

(6) Expenditures/Liabilities/ Disbursements
(7) Employee Compensation
(8) General Ledger (9) General Fixed Assets

For all ofthe internal control categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk.

We noted certain matters involving the internal control structure and its operation that we consider to be reportable conditions under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.

As described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories:

(1) Cash and Cash Equivalents

(2) General Fixed Assets

A material weakness is a reportable condition in which the design or operation of one or more ofthe specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.

Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all

94ICL-3

reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that all of the reportable conditions disclosed above are also considered to be material weaknesses.
These conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Bartow County Board ofEducation's financial statements and this report does not affect our report thereon dated April 3, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94ICL-3

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
April 3, 1995

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Bartow County Board ofEducation
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Bartow County Board ofEducation as of and for the year ended June 30, 1994, and have issued our report thereon dated April 3, 1995. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Board's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated April 3, 1995.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General ofthe United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Bartow County Board of Education complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
In planning and performing our audit for the year ended June 30, 1994, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and on its compliance with requirements applicable to major Federal
94ICL-5

financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated April 3, 1995.

The management of the Bartow County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives ofan internal control structure are to provide management with reasonable, but not absolute,
assurance that assets are safeguarded against loss from unauthorized use or disposition, that transactions are
executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal :financial assistance programs are managed in compliance with applicable laws and regulations. Because ofinherent limitations in any internal control structure, errors, irregularities or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.

For the purposes of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories:

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

(1) Political Activity (2) Civil Rights (3) Cash Management (4) Federal Financial Reports

(1) Types of Services Allowed or Unallowed
(2) Eligibility
(3) Matching, Level of Effort, and/or Earmarking

(5) Allowable Costs/Cost Principles

(4) Reporting

(6) Drug-Free Workplace Act (7) Audit Follow-Up/Resolution (8) Administrative Requirements

(5) Applicable Special Tests and Provisions
(6) Other Requirement Claims for Advances and Reimbursements

For all of the internal control structure categories listed above, we obtained an understanding of the design ofrelevant policies and procedures and whether they have been placed in operation, and we assessed control risk.

94ICL-5

During the year ended June 30, 1994, the Bartow County Board of Education expended 69% of its total Federal financial assistance under major Federal financial assistance programs.
We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to each of the Board's major Federal financial assistance programs, which are identified in the Schedule of Federal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:cm 94ICL-5

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Inadequate Separation ofDuties Financial Statements/Federal Financial Assistance Finding Resolved Audit Control Number 6081-93-01
The audit report for the year ended June 30, 1993, stated that the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures for the School Food Service Fund. For the year under review, our audit disclosed that the Board had implemented internal accounting control procedures to provide for adequate separation of employee duties in the performance of the accounting functions and related procedures.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $6,057.06 Audit Control Number 6081-93-03
The audit report for the year ended June 30, 1993, disclosed that the Staff Development - Professional Development Stipends Program had an underexpenditure of Quality Basic Education (QBE) funds of $6,057.06 for the required minimum allotment. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of$6,057.06 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal year.
AUDIT FOLLOW-UP/RESOLUTION Failure to Implement a Drug Awareness Program Federal Financial Assistance Finding Resolved Audit Control Number 6081-93-04
The audit report for the year ended June 30, 1993, disclosed that the Bartow County Board of Education had not implemented a Drug-Free Awareness Program as required by Federal Regulation (7 CFR 3017). For the year under review, the Board implemented a drug-free awareness program that includes all the elements as required.

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1994
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Finding Resolved Audit Control Number 6081-93-05
The audit report for the year ended June 30, 1993, reported that the Board failed to submit a copy of the 1992 audit report to the U. S. Department of Education which provided Federal financial assistance to the Board. During the year under review, the Board submitted a copy ofthe 1992 fiscal year audit report to the agency as required.
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6081-93-02
The audit report for the year ended June 30, 1993, noted that the management of the Bartow County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include but may not be limited to date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1994
CURRENT YEAR
CASH AND CASH EQUIVALENTS Uncollateralized Deposits Financial Statements Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 6081-94-01
As of June 30, 1994, the Bartow County Board of Education failed to have its bank balances fully collateralized as provided for by the Official Code ofGeorgia Annotated Section 45-8-12 which states, in part, as follows:
"The collecting officer or officer holding public funds may not have on deposit at any one time in any depository for a time longer than ten days a sum of money belonging to the public body when such depository has not given bond to the public body as set forth in this code section... The aggregate ofthe face value ofsuch surety bond, the face or par value of securities pledged, and the amount of deposit insurance shall be equal to not less than 110 percent of the public funds being secured... after the deduction of the amount of deposit insurance".
This noncompliance occurred because of management's failure to adequately monitor the collaterization of balances at individual banks. The Board should implement procedures to monitor the collateralization of bank balances to ensure compliance at all times with State Laws governing deposits and investments.
EXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $84,775.41 Audit Control Number 6081-94-02
For the year under review, the Bartow County Board of Education reported to the Georgia Department of Education on DE Form 0420 "General Fund QBE Program Expenditure Summary" expenditures totaling $158,049.51 for the StaffDevelopment - Cost of Instruction Program. A review of the underlying source documentation for the Quality Basic Education (QBE) Program disclosed that the Board expended more than 15 percent ofits initial allotment offunds for Professional Development Stipends for Staff Development - Cost of Instruction Program purposes resulting in an underexpenditure of $84,775.41 for the minimum required allotment of $134,563.50 for the StaffDevelopment - Professional Development Stipends Program.
This questioned cost resulted from management's reliance on incorrect information received from the Georgia Department ofEducation, resulting in a violation of Official Code of Georgia 20-2-182. The underexpenditure of$84,775.41 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.

BARTOW COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1994

CURRENT YEAR
EXPENDITURES/LIABILITIES/DISBURSEMENTS Unearned Per Diem Payments Financial Statements Nonmaterial Noncompliance Amount: $500.00 Audit Control Number 6081-94-03
For the year under review, payments were made to Board members for attendance at more than one meeting during each day. The Official Code of Georgia Annotated Section 20-2-55 provides, in part, as follows:

"...members of the county board shall, when approved by the county board affected, receive a per diem of$50.00 for each day of attendance at meetings of the board...".
The following Board members received per diem payments in excess of amounts earned:

Board Members
Tony Kincannon Marlene Layton Marsha Lee LaWanda Martin

Excess Payments

$

300.00

50.00

100.00

50.00

$===5===00===0===0
These overpayments occurred because management failed to monitor Board member attendance listings and paid Board members for multiple meetings on the same day. Reimbursement of$500.00 should be secured from the individuals receiving the excess payments and deposited to the Board's General Fund.

SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

BARTOW COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1994
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6081-93-02
We concur with this finding.
EXPENDITURES/1.IABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $84,775.41 Audit Control Number 6081-94-02
We do not concur with this finding. The Board's action was based upon incorrect information from the Georgia Department ofEducation.
EXPENDITURES/LIABILITIES/DISBURSEMENTS Unearned Per Diem Payments Financial Statements Nonmaterial Noncompliance Amount: $500.00 Audit Control Number 6081-94-03
We concur with this finding. Controls are now in place to prevent future overpayments. Three Board Members have reimbursed the school system for the overpayments, and the fourth member is in the process of submitting payment. This action should resolve this finding.
Note: The Bartow County Board of Education has elected not to provide comments for inclusion in this report other than the above.