- Collection:
- Georgia Government Publications
- Serial:
- Carroll County Board of Education, Carrollton, Georgia, report on audit on the financial statements for the fiscal year ended ...
- Title:
- Carroll County Board of Education, Carrollton, Georgia, report on audit of the financial statements for the fiscal year ended June 30, 2000
- Creator:
- Georgia. Department of Audits and Accounts
- Contributor to Resource:
- Georgia. Department of Audits and Accounts, issuing body.
- Publisher:
- Atlanta, Ga. : Dept. of Audits and Accounts
- Date of Original:
- 2000-06-30
- Subject:
- Carroll County (Ga.). Board of Education--Appropriations and expenditures--Periodicals
Education--Georgia--Carroll County--Auditing--Periodicals
Education--Georgia--Carroll County--Finance--Statistics--Periodicals - Location:
- United States, Georgia, 32.75042, -83.50018
- Medium:
- state government records
official reports
audits
financial statements
financial records - Type:
- Text
- Format:
- application/pdf
- Description:
- Began with fiscal year ended June 30, 2000; ceased with fiscal year ended June 30, 2008.
Report year covers fical year.
Has supplements: Carroll County Board of Education, Carrollton, Georgia, schedule of salaries and travel for the fiscal year ended ... , fiscal year ended June 30, 2000-fiscal year ended June 30, 2002; Report on salary and travel for the fiscal year ended ... (Carroll County, Ga. Board of Education), fiscal year ended June 30, 2003-fiscal year ended June 30, 2007; Salaries and travel reimbursement (Carroll County, Ga. Board of Education), fiscal year ended June 30, 2008.
Fiscal year ended June 30, 2000 (online surrogate); title from PDF cover (Georgia Government Publications database, viewed October 11, 2022).
Fiscal year ended June 30, 2008 (online surrogate); (Georgia Government Publications database, viewed October 11, 2022). - External Identifiers:
- Call Number GA A800 .R1 E26 C3 1999-2000
- Metadata URL:
- https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bc3-b1999-h2000
- Digital Object URL:
- https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bc3-b1999-h2000
- Language:
- eng
- Rights Holder:
- © Georgia Department of Audits
- Holding Institution:
- University of Georgia. Map and Government Information Library
- Rights:
-
Arooo
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{ClCf1,2!ro
STATE OF GEORGIA DEPARTMENT OF AUDITS AND ACCOUNTS
s
I
CARROLL COUNTY BOARD OF EDUCATION
CARROLLTON, GEORGIA REPORT ON AUDIT
OF THE FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2000
Russell W. Hinton
State Auditor
.
CARROLL COUNTY BOARD OF EDUCATION
iiiiiiiAizI
_
1
- TABLE OF CONTENTS -
SECTION I
FINANCIAL
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PUR,POSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
EXHffiITS
GENERAL PURPOSE FmANCIAL STATEMENTS
COMBINED STATEMENTS - OVERVIEW
A
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP
B
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
C
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
(NON-GAAP BASIS)
GENERAL AND SPECIAL REVENUE FUNDS
D
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN FUND BALANCES
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND
E
STATEMENT OF CASH FLOWS
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND
F . NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
ADDITIONAL FINANCIAL INFORMATION
COMBINING STATEMENTS
SPECIAL REVENUE FUND
G
COMBINING BALANCE SHEET
H
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND
I
C01\ffiINING BALANCE SHEET
J
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
DEBT SERVICE FUND
K
COMBINING BALANCE SHEET
L
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
page
2 4 7. 8 9 11
24 26
28 29 30
31
.
~
.
CARROLL COUNTY BOARD OF EDUCATION
*
-
- TABLE OF CONTENTS -
SECTION I
FINANCIAL
ADDITIONAL FINANCIAL lNFORMATION
EXHffiITS
COMBnnNGSTATEMENTS
FIDUCIARY FUND TYPES
M
COMBnnNGBALANCESHEET
32
N
COMBnnNG STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
AGENCY FUNDS
33
SCHEDULES
1 . SCHEDULE OF EXPENDITIJRES OF FEDERAL AWARDS
34
2 SCHEDULE OF STATE REVENUE
36
3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS
37
ANALYSIS OF M
EXPENDITIJRE REQUIREMENTS
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS
4
OVERALL
39
5
BY PROGRAM
40
SECTIONll
COMPLIANCE AND J1'ITERNAL CONTROL REPORTS
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERN_ MENT AUDITIk N G STANDARDS
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
SECTION ill
AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS
S
Y SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS
.
CARROLL COUNTY BOARD OF EDUCATION
I
7RIZ7
azI&&
.. TABLE OF CONTENTS -
T
,
SECTION IV FINDINGS AND QUESTIONED COSTS
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
SECTION I FINANCIAL
f
...
RUSSELL W. HINTON
STATE AUD1TOR
(404) 656-2174
DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 17, 2001
Honorable Roy E.F:.;~mes, Governor
, Members of the GCLcral Assembly
Members' of the State Board of Education
and
~
Superintendent and Members. of the
Carroll County Board of Education
INDEP, Ed N DENT
AUDITOR'S
COMBINED REPORT n
, __ ,.. _,.___
ON
GENERAL _ __
._, _
PUR __ POSE
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION-
'111l1li
F
Jszz
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, ... , . . . _ ~I.
dL
...
....
, RI1II"--.1111'" l...-a1a
.:11 ~
-.pi
SCHEDULE OIF F_ E__IXIR." PEND._ ITURES OF FEDERAL AWARDS
Ladies and Gentlemen:
We have audited the accompanying general pwpose financial statements ofthe Carroll County Board of Education, as of and for the year ended June 30, 2000, as listed in the table of contents. These general purpose financial statements are the responsibility of the Carroll County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit.
W e conducted our audit in accordance with auditing standards generally accepted in the United
States ofAmerica and the standards applicable to financial audits contained in Govert1IDJ~.nt Auditing
Stand~r9s, issued by the Comptroller General ofthe United States. Those standards require that we
plan and perfonn the audit to obtain reasonable assurance about whether the financial statements are .
free ofmaterial misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. ,We believe that our audit provides a reasonable basis for our
opI nI on.
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:
2000ARL-13A
* The general purpose financial statements ofthe 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 confonn to generally accepted accounting principles.
* .The Board did not report compensated absences within the general purpose financial
statements as required by generally accepted accounting principles.
* School activity accounts maintained at the individual schools are not 'included in the
general purpose financial statements. To confonn 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, 2000, a portion
of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 2000. Also funds received, subsequent to Jnne 30, 2000, from the Georgia Department of Education 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, 1999, were improperly recorded in the year ended June 30, 2000. To confonn 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 detennined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of the Carroll County Board of Education as of June 30, 2000, and the results of its operations and the cash flows of its nonexpendable trust fund for the year then ended, in conformity with accounting principles generally accepted in the United States of America.
In accordance with Govemment Auditing Standards, we have also issued our report dated July 17, 2001, on our consideration ofthe Carroll County Board ofEducation's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with GoveQUllent Auditing Standards and should be read in conjunction with this report in considering the results of our audit.
Our audit was performed for the purpose of fonning an opinion on the general purpose financial statements of the Carroll County Board of Education taken as a whole. The accompanying combining statements (Exhibits G through N) and the financial schedules (Schedules 1 through 5), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the
2000ARL-13A
general purpose financial statements. 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 effects ofthe matters referred to in the third paragraph, such information is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole.
A copy ofthis report has been filed as a pennanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 50-
6-24.
Respectfully submitted,
RWH:gp
2000ARL~13A
Rus ell W. Hinton State Auditor
CARROLL COUNTY BOARD OF EDUCATION
.
CARROLL COUNTY BOARD OF EDUCATION
1
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP
751' d
*
r ......
JUNE 3D, 2QOO
ASSETS
Cash and Cash Equivalents
Investments
Accounts Receivable
Inventories Food Donated Commodities
Purchased Food
Amount Available in Debt Service Fund
Amount to be Provided in Future Years
For Payment of Bond Debt
GENERAL FUND
GOVERNMENTAL FUND TYPES
SPECIAL
CAPITAL
REVENUE
PROJECTS
FUND
FUND
$ 8, 179,945.29 $ 944,056.89 $ 4.702,120.16
15,OOO~OO
529,651.47
536,518~38
1 t424,616~84
51,185.74
52,887.05
Total Assets
LJA~H-1TIESTAND FUND EQUITY
LIABILITIES
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Funds Held for Others General Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs For Debt Service
For Endowment Corpus
For Inventories
Food Donated Commodities Purchased Food
For Purpose of Bond Issue For SPLOST Projects
Unreserved
Designated for Self-Insurance
Undesignated
Total Fund Equity
$ 8,709L596.76 $ __ 1,599,648.06 $ H
$ 162,376.59 691,507.61 79,449.78 $
208.272.75 622t856~47
$ 933,333.98 $ _ _8_31...,..1._2_9._22_
$
$
214,120.75
8L49~476.01
d
$
51 1185.74 52,887.05
$
. 1,763,728.84
3,531.878.94
562,241.29
_ o~woo
Total Liabilities and Fund Equity
$
The notes to the general purpose financial statements are an integral part of this statement. -2-
EXHIBIT "A"
- DEBT
SERVICE
., .FUND
FIDUCIARY
FUND TYPES
:zL
TRUST AND
AGENCY FUNDS
$
552.61 $
4,643.80
40,700.00
ACCOUNT GROUP
GENERAL LONG-TERM
DEBT
TOTALS
l~em~T~*ndum 9nly",--)
_
JUNE 30, ~?QOO
JUNE 30, 1~~_~.
$ 13,831,318.75 $ 23,839t 194.80
55,300.00
2.578,077.53
$
-
&
-552.61 $ ,~
$
552.61
12,539,41?.:.39
of
51,185.74 52,887.05
552.61
54,905.38
44.503.47
215,576.51
16,144,423.49_
$
$
14,433.72
________ $ w 12,540,000.00
$
1~,433.72 $ 12L540,OOO.00 $
162,376.59 $ 691,507.61
79.449~78
208,272.75 622,856.47
14,433.72
12J 540,OOO.00
14,L318,896.92 $
331.712.81 654,543.71
5,528.23
602,806.32 370,364.53
15,944,4a
161 360,000.00
18,340,900.08
$
552.61
$
27,965.70
2,944.38
$
552.61' $ _ _..;"".3..0.,..9. _1_0._08_
$=
552.61 $
$
28,893.22
$
552.61
215,576.51
27 ,965.70
27,965.70
51,185.74 52,887.05
1,763,728.84
3,531.878_94
214,120.75
9,060,661.68
54,905.38 44,503.47
12,413,817.21 2,886,374.31
449,371.74
8,469J673.56
-3-
CARROLL COUNTY BOARD OF EDUCATION
d
7V7"
COMBINED STATEMENT DE f{EVEN~ES, EXPENDITURES A~P CtiANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES
REVENUES
State Funds Federal Funds Taxes Other Funds
Totar 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 Enterprise Operations Community Services Operations
Capital Outlay Debt Service
Principal Interest Paying Agent Fees
Tatal Expenditures
Excess of Revenues over (under) Expenditures
OTHEF\ c!N.AriCING SOURCES (USES}
Accrued Interest on Bonds Sold Proceeds from General Obligation Bonds
Par Value 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 d _ _ AMP U _ ' "
Food Inventory - Net Change in Period Donated Commodities Purchased Food
GENERAL FUND
SPECIAL REVENUE
FUND
$ 47,029,956.51 $
19.461 ,342.14
1.242,291.13
4.595,568.02
5,882t 905.25
1.1 7 7 8 , 9 8 3 . 3 8
$ .67,73T31589~78 $ 12,257J456.65
$ 43,579,739.78 $
3,453,841.86
1,743,901.40
1,730,356.29 728,895.00
5,051,232.94 471,856.03
5,508.635.25 3,548,422.67
260,454.20 21,039.76 3,339.76
336.634.10 401,214.12 488,360.14
5,427,864.77
883,601.78 768,082.51
314,981.44 221,999.78
115,823.50 21,587.95
125,358.02
4,313,019.46
145,267.97
$ 67,327)923.30 $ 12d337J587.18
$
405,666.48 $
-8L0__L_1._30~._3_
.
$
$ ---.--1.5.1.,.0.5.2-.3-5-
151,052.35
$ - -151 ,052.35 $ _ _1_5_1"--,0.5...2._.3_5_
$
254,614.13 $
8,454.982.63
70,921.82 590.728.32
-3,719.64 __ 8,383.58
FUND BALANCE JUNE 30 * _.. zLiiiiIIfII
_ .....vr
$
The notes to the general purpose financial statements are an integral part of this statement.
-4-
EXHIBIT "8"
CAPITAL PROJECTS
FUNF D _
DEBT SERVICE
FUN. D-
TOTALS
. .LMemorandum Only.).....
_
YEAR ENDED
JUNE 3D, 2000
JUNE 30,j 999
$ 51.625.524.53 $ 49,286,783.66
5,882,905.25
5,600,247.78
$ 4,010,105.81 $ 4,243,814.25
27,715,262.20
23,818,878.89
498.419.91
10.80
7tl.
3,51~,70.5 ..g2
u.1,01~4q6.15
$ 4,5081525.72 $ 4 t 243,825.05 $ 88,743,397.20 $ 82,7521316.48
$ 14,513,109.46
$
$ 14,513d 109.46 $
$ 49.007,604.55 $ 46.062,582.48
4,337,443.64
2,511,983.91 1,730,356.29
1,043,876.44 5,273,232.72
471,856.03 5,624,458.75 3,570,010.62
260,454.20 146,397.78
4,316,359.22 336,634.10
546,482.09
15,001 ,469.60
4,016,416.59 2,639,264.02 11555,231 ~35
1,289,826.76 4,788,753.24
5661484.38 5.177,534.60
3,334,624.30
273t617~03 254,299~30
4,114,804.39 333,497.20
580,599.04 9,232,511.90
3,820,OOO~OO
638.848.95
3t820.000~OO
638,848.95
3,640,000.00
450.461.67
-
159.00
$ -10,004,583.74 $ 15,300.191.52
$
16,887.49
10,000,000.00
$
151,052.35
271,727.67
-151,052.35_
-271,727.67
$
0.00 $ 10J 016J887.49
-215,023.90 $ -9.894,071.69 $ 4,458.536~72
215,576.51
24,561,478.98
20,096.383.38
-3,719.64
8t383.58
1,879.48 4,679.40
- 5 .. '
CARROLL COUNTY BOARD OF EDUCATION
Q.
zsr 1
-.1!:t:Mt
CO,f\1BINED STAT~MF!'JT OF R~YENUE~. EXPENj2ITURES J\Nj) CHANGES IN FlJt::JD BALANCE~.
~UDGET AND ACTJ-lAL - (NON-GAAP BASIS}
GENERAL AND SPECIAL REVENUE FUNDS
,.,.....
-
F
III
YEAR EtfDED JUNE 30, 2000
EXHIBIT "C"
REVENUES
II GENERAL FU_ ND
ACTUAL
(BUDGET
BUDGET L
...t
BASIS)
State Funds
Federal Funds Taxes Other Funds
Total Revenues
$ 44,999,201.59 $ 47,029,956.51
17 t099,600. 00
60zJzQ09J>.9
19.461 ,342.14 1,242,29'..:n1~
$ 62,698.801:.5~ $ 67,733,589,Z
EXPENDITURES F
Current Instruction
Support Services
Pupil Services Improvement of Instructional Services Educationat 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
Enterprise Operations Community Services Operations
Capital Outlay
Total Expenditures
$ 42.233,913.45 $ 43,579,739978
2.887,252.36
1,495,270.28
1.742,511.55 373.713.70
4,934.457.31 486,722.27
5,149,044.26 3,295,941,74
242,505.86 30,000.00 3,500.00
217..&.131.81
3.453t841.86 1t743,901.40 1,730,356.29
728 t 895.00 5,051,232.94
471,856.03 5 t 5081635.25 3,548,422.67
260,454.20 21,039.76
3,339~76
336.634.10 401,214.12
488,360.14
$ 63,091 ,964.59 $ 67,327,923.30
Excess of Revenues over (under) Expenditures
$ -3~3,163.00 $ _----.40__~...6.1.11111i1.i..6.6.,..4...8.__
OTHER FINANCING SOURCESaiUSESl
Other Sources Other Uses
$ 693,163.00
-300,000.00 $ -151,052.35
Total Other Financing Sources (Uses) $ 393,163.00 $ -151,052.35
Excess of Revenues and Other Financing Sources -
over (under) Expenditures and Other Financing
Uses
$
0.00 $ 254,614.13
FUND BALANCE JULY 1,1999
6,993,134.57
8,454,982.63
Adjustments
b
1 IT iii!iiiIE
SPECIAL REVENUE FUND F. ACTUAL
(BUDGET
- BUDGET
B~SJS)_TQlIII _
$ 2,558,441.91 $ 4,5q~~ ,568.02
5.620,644a95
.5,88~' ~905,25
1,659..L4l~~OO
1!7~8,983a38
$ 3,668,028.61 $ 5,427,864.77
696,556.00 677,884.07
883,601.78 768,082.51
139,261.00 278;478.00
314.'981.44 221,999.78
23.370.00
22,750.00
1151823.50 21,587.95
46.569.00 4.271,411.00
125,358.02 4,313,019.46
20,767.10
145,267'.97
$ 9,845b074.78 $ 12,337,587.18 $ -15,562~92 $ _ _-8....0....,.1...3..0.......5__3--.
.$
151,052.35
$ -15.562.92 $
695.621.76
70,921~82
491,319a47
$ .80,624.!! I $ _ _5...6..2..,241.2~
The notes to the general purpose financial statements are an integral part of this statement. -7-
CARROLL COUNTY ~9ARD.Of EDUCATION
STATEMENT OF ~EVENTUES, EXPJ;:NSES ~ND CHANGES IN FUND BAkA~kt;:S
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUND
T
F
YEAR ENDED JUNE. 3D. 2000 j
EXHIBIT "D"
OPERATING REVENUES-
None Recorded
OPERATING EXPENSES
I
I III.
II'
Current Scholarships
Operating Income (Loss)
NONOPERA__ TIN1G'_ REV_ENUES
Interest Earned
Net Income
FUND BALANCE JULY 1
I
LzLJII. Js:a
FUND BAXFL*_A_ NC_E. d J, UNE 30 .
CARROLL COUNTY
BOARD OF EDUCATION
TEACHER DEVELOPMENT
_. - SCHOLARSHIP FUND
a _
Jl.lNE 30, 2000
JUN~.v307 1999
$-
0.00 $
oM
1
m
0.00 $
0-_00 _
$
0.00 $
0.00 $ - - - " "1',0-0-0.-00-
$
0.00 $
0.0.0 $
-1 ,000.00
1,307..96
1.z307.96
1,524.89
$
1,307.96 $
1,307.96 $
524.89
29,6Q2.12
29,077.23
$ ====
The notes to the general purpose financial statements are an integral part of this statement.
-8-
CARROLL COUNTY BOARD OF EDUCATION
'If'
_ _ lBzId I L L I
STATEMENT OF CASH FLOWS
~
zsP W111111l
............ v
~
FIDUCIARY FU-ND TYPE - NONEXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 2000
EXHIBIT "E"
Cash Flows from Operating Activities: Cash Paid for Scholarships
Cash Flows from Investing Activities: Interest Received on Investments Purchase of Investments Sale of Investments
Net Cash Provided by Investment Activities .
Net Increase (Decrease) in Cash
Cash and Cash Equivalents - July 1
Cash and Cash Equivalents - June 30
CARROLL COUNTY BOARD OF EDUCATION TEACHER
DEVELOPMENT.
SCHOLARSHIP FUND-
TOTALS
(MemJ>raQ~um Onlyj
_
YEAR ENDED
JUNE 30, 2000 JUNE 3D, 1999
$
0.00 $
0.00 $._ _- -1--..1,QQ.9.00-
m
$
1,307.96 $
1,307.96 $
1,524.89
-28,700.00
-28,700.00
-28,300.00
28,300.00
28,300.00
27,800.00
$
907.96 $
907.96 $ _ _ 1(024.89
~Io.--_-
$
907.96 $
907.96 $
24.89
1J.302.12 . dP
1,277.23
9,...pa $ ======;==g======2=z2==J==J~==.O==8= $ 4* t. 2J 21e
$ 1,302.12 ~------
The notes to the general purpose financial statements are an integral part of this statement.
.. 9-
.C..... ARROLL COUNTY BOARD OF., EDUCATION
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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JUNE 30, 2000
EXHffiIT "F"
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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REPORTING ENTITY
The Carroll County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists of all the organizations that compose its legal entity.
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 ofpurchase. 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.
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, Taxes and Other funds under control of the Board, in compliance with generally accepted accounting principles applicable to governmental units, unless othetwise 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 educational activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.
~ 11 -
CARRO~~ CQUNTY.~OARD OF EDUCATION
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
*
,
JUN:J;:..30, 2000
EXHffiIT "F"
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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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 received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives.
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, generallong-tenn principal, interest and paying agent fees.
FIDUCIARY FUND TYPES - the 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 Carroll County Board of Education Teacher Development Scholarship Fund - the fund used to account for an endowment ofwhich the corpus is to be invested and preserved intact with the resultant income to be used to assist State University of West Georgia juniors and seniors who have committed to a career in education or to veteran teachers who are returning to school to upgrade their teaching credentials.
AGENCY FUNDS - the funds used to account for assets held in a fiduciary capacity for other funds, governments, or individuals.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reporting device used to account for general obligation debt outstanding.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is detennined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements ofthese funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group.
- 12-
CARROLL COUNTY BOARD OF EDUCATION .
_1
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...
.
NOTES -
TO
THE
GENERAL
PURPOSE _
FINANCIAL * dR L d_
add __ _
STATEMENTS _
JUNE ~Q~, ~OQO
EXHffiIT "F"
Note
1:
SUMMARY
, MIl
..._
OF
SIGNIFICANT
ACCOUNTING
P:O-._L---I-CIES
All nonexpendable trust funds are accounted for on a flow of econonlic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Agency funds are purely custodial in nature and do not involve measurement ofresults ofoperations.
Governmental funds are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (Le., when they become both measurable and available). "Measurable" means the amount of the transaction can be detennined 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, local option sales taxes, intergovernmental grants and investment income.
Expenditures are generally recognized when the related fund liability is incurred.
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 of these contracts. During fiscal year 2000, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1999 and ending in early June 2000. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1999 and ending in August 2000. State grants to fund the State's share of these contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 2000, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 2000, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 2000. Also, the State's portion ofthe compensation paid in July and August 2000 was received and recorded as revenue in the fiscal year subsequent to June 30, 2000. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1999, were recorded in the year ended June 30, 2000. 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 ofaccounting, 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.
Agency funds are accounted for using the modified accrual basis ofaccounting in recognizing assets
and liabilities.
.. 13 -
CARROLL COUNTY BOARD OF EDUCATION
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NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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ruNE 30, 2009
EXHffiIT "F"
Note 1: SUMMARY OF SIGNIFI,CANT ACCOUNTING" POLICIES
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BUDGET
The Carroll County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates ofexpenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbtidget control was established by the Board at the fund level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.
.
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. At the next regular meeting of the 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 of the Quality Basic Education Act, OCGA Section 20-2-167(c), to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
The Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to fund balance as reflected on Exhibit "B" of this report:
Special
Revenue . Fund
FUND BALANCE JULY 1,1999
$ 590,728.32
Adjustments Inventories - July 1, 1999
Food Donated Commodities Purchased Foods
Fund Balance July 1, 1999 (Budget Basis)
-54,905.38 -442503.47
$ 491,319.47
Excess ofRevenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
70.9,21.82
FUND BALANCE JUNE 30, 2000 (Budget Basis)
- 14 ..
CARROLL COUNTY BOARD OF EDUCATION
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NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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JUNE 3.0, 2QOO
EXHmIT ifF"
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits in authorized financial institutions. Georgia Laws OCGA 45-8-14 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.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated
Section 36-83-4 authorizes the Board to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(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 State ofGeorgia, Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and
(8) Obligations of other political subdivisions of the State of Georgia.
RECEIVABLES
Receivables consist ofgrant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclo.sed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met.. Receivables
- 15 ..
CARROLL CQUNTY BOARD OF EDUCATION
EXHmIT "F"
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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. JUNE_ 30, 2000
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.
PROPERTY TAXES
The Carroll County Board of Commissioners fixed the property tax .levy for the 1999 tax year (calendar year) on October 21, 1999 (levy date). Taxes were due on December 20, 1999. The lien date for property taxes was January 1, 1999. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 2000. The Carroll County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 1% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board.
The tax millage rate levied for the 1999 tax year (calendar year) for the Carroll County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value):
School Operations
17.8 mills
SALES TAXES
Special Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $8,253,920.06 and was recorded in the Capital Projects and Debt Service Funds. The State will tenninate collection of this tax once an additional $29,060,219.95 has been collected or on December 31, 2002, whichever occurs first.
INVENTORIES
FOOD 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 inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time ofpurchase. The inventories reported 'on the balance sheet for donated food commodities and for purchased foods 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
- 16 ~
CARROLL COUNTY BOARD OF EDUCATION
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NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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EXHffiIT "F"
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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liability has been recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial to the general purpose financial statements.
However, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources is material to the general purpose financial statements and has not been recorded in the General Long-Tenn Debt Account Group as required by generally accepted accounting principles.
GENERAL OBLIGATION BONDS
The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized in the financial statements during the year bonds are issued. General obligation bonds are direct obligations and pledge the full faith and credit ofthe government. The outstanding amount ofthese bonds is recorded in the General Long-Tenn 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 ofoperations or cash flows in confonnity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Note 2: DEPOSITS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum ofmoney which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe
- 17 -
CARROLL COUNTY BOARD OF EDUCATION
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NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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EXHffiIT "Fit
Note 2: DEPOSITS
securities pledged to secure a pool ofpublic funds shall be not less than 11 0 percent ofthe daily pool
balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion,
J
waive the requirement for security in the case ofoperating funds placed in demand deposit checking
I
accounts.
I
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Acceptable security for deposits consists of anyone of or any combination of the 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,
.
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds 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 or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intennediate Credit Bank, the Central Bank for Cooperatives, the Fann Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS
At June 30, 2000, the bank balances were $16,692,308.38. The amounts ofthe total bank balances are classified into three categories of credit risk:
Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the 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.)
- 18 ..
CARROLL
COUNTY .-.:r."..
BOAR_D*O.F.
EDUCATION
L
mw
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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Note 2: DEPOSITS
The Board's deposits are classified by risk category at June 30, 2000, as follows:
R~~~ Category
1
2
3
Bank Balance I,U"
$ 364,918.39 152,814.92
1~ 1742575.07
Total
Note 3: NON-MONETARY TRANSACTIONS
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The Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast aJ;1d lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories
Note 4: RISK MANAGEMENT
The Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster and unemployment compensation.
The Board has obtained commercial insurance for risk ofloss associated with torts, assets and errors
or omissions. The Board has neither significantly reduced coverage for these risks nor incurred
losses (settlements) which exceeded the Board's insurance coverage in any o(the past three years.
.
.
The Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to this risk in the past three years.
The Board has established a limited risk management program for workers' compensation claims. In connection with this program, a self-insurance reserve has been established within the General Fund by the Board. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. An excess coverage insurance policy covers individual claims in excess of $225,000.00 loss per occurrence, up to the statutory limit.
Changes in the workers' compensation claims liability during the last two fiscal years are as follows:
1999
2000
Beginning of Year
Li;tbility_
Claims and Changes in - Estimates
d
$
0.00 $ 29L~45.92 $
$
0.00 $ 2~2,789.12 $
C. laims Paid
End ofYear
Liabilin:_
~ 19-
CARROLL_CQUNTY I!.QARD OF EDVGATION
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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ruNE 30~_2000
EXHffiIT "F" . .
Note 4: RISK MANAGEMENT
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The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditure and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated.
Changes in the unemployment compensation claims liability during the last two fiscal years are as follows:
1999
2000
Beginning
of Year Liability_
Claims and Changes in Estimates
TF L
$
0__.0_0 $.
$
0.00 $
Claims Paid
End ofYear Liabili!y_
The Board has purchased surety bonds to provide additional insurance coverage as follows:
Position Covered
Amount
Superintendent Each Principal and Assistant Principal All Other Employees
$ 100,000.00 $ , 20,000.00 $ 100,000.00
Note 5: GENERAL LONG-TERM DEBT
GENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows:
_ _ _ _.P..u. rp~os....e..
_
General Government - Series 1998
General Government - Series 1999
Interest Rates
3.7% - 4.0% 3.1 % - 3.85%
Amount -
$ 4,875,000.00
7:1665,000.00
$12~4Q.qoo.oo
The changes in General Long-Tenn Debt during the fiscal year ended June 30, 2000, were as follows:
- 20-
CARRO~L CQUNTY BOARD OF EDJ.I~ATION
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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JUNE 30, 2000
EXHffiIT "F"
- Note 5:
GENERAL
LONG-TERM ~---
DEB... T
General
Obligation Bonds
Balance July 1, 1999
$16,360,000.00
Deductions Debt Retired
3,820,000.00
Balance June 30, 2000
At June 30, 2000, payments due by fiscal year which includes principal and interest for these items are as follows:
Fiscal Year Ended June 30
General
Obligation Bonds
2001 2002 2003
$ 4,470,232.50 4,501,612.50 4,551,}87.50
Total Principal and Interest
Note 6: ON-BEHALF PAYMENTS
The Board has recognized revenues and expenditures in the amount of $1,186,190.92 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies.
Georgia Department of Education Paid to the Georgia Department of Community Health For Health Insurance ofNon-Certified Personnel
In the amount of $968,324.08
t
Paid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $43,014.84
Office ofTreasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost ill the amount of$174,852.00
- 21 -
CARROLL CQUNTY BOARD OF EDUCATION
NOTES T-O THE GENERAL PURPOSE FINANCIAL STATEMENTS
JUNE 30, 2000
EXHffiIT "F"
Note 7: SIGNIFICANT COMMITMENTS
I~
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The following is an analysis ofsignificant outstanding construction or renovation contracts executed by the Board as of June 30, 2000:
Project a
Central High Renovations Jonesville Middle Temple Middle Villa Rica High Renovations
Unearned
Executed
Contracts
An
ELL
$ 8,331.94 30,209.70
278,281.30
459~589.1 ~
$, __ 776..4. 12.02
The amounts described in this note are not reflected in the general purpose financial statements.
Note 8: CONTINGENT LIABILITIES 7"'11I".
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 tenns. The Board believes that such disallowances, if any, will be immaterial to its overall financial position.
to The Board is a defe~dant in various legal proceedings pertaining to matters incidental the
performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements.
Note 9: ACCUMULATED EMPLOYEES' LEAVE
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All employees who are eligible for retirement benefits and who have a minimum of three years of service with the school system earn annual leave and sick leave at rates of .84 days and one and onefourth days per month ofservice, respectively. Maximum accumulations for classified and certified employees are twenty and twenty-five days respectively for annual leave and ninety days for sick. leave. An employee will be paid for unused accumulated annual leave at their current rate ofpay if the employee leaves the system in good standing. An employee will be paid for unused accumulated sick leave upon retirement at the daily rate of$30.00. See Note 1 - Compensated Absences
Note 10: RETIREMENT PLANS
T.S
~
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 ofGeorgia (TRS), which is a cost-sharing multiple
- 22-
CARROLL COUNTY BOARD OF EDUCATION
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS
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JUNE 30,20.0.9
EXHffiIT "F"
Note 10:
R
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1FT
R
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M
E
N
T
PLANS
employer defined benefit pension plan. TRS provides service retirement, disability retirement and
survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained
from the Georgia Department ofAudits and Accounts.
TRS CONTRIBUTIONS REQUIRED AND MADE
Employees of the Board who are covered by TRS are required by State statute to contribute 5% of
their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their
independent actuary. The required employer contribution rate is 11.29% and employer contributions
for the current fiscal year and the preceding two fiscal years are as follows:
Fiscal Year
Percentage Contributed
Required Contribution
2000 1999
1998
100% 1000/0
100%
$ 5,122,249.62 $ 5,108,060.77 $ 4,611,796.66
- 23'-
- CARROLL COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET
SPECIAL REVENUE FU'ND
'L
I
ASSETS &
Cash and Cash Equivalents
Investments
Accounts Receivable
Inventories Food Donated Commodities Purchased Food
Total Assets
. LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft
Accounts Payable Salaries Payable Expired Grant Balances Payable
Total Liabilities FUND EQUITY
Fund Balances Reserved For Continuation of Federal Programs
For Inventories
Food Donated Commodities Purchased Food
Unreserved
Undesignated
Tatal Fund Equity
Total Liabilities and Fund EqUity
See notes to the general purpose financial statements.
- 24-
SCHOOL FOOD
SERVICES FUND
LOTTERY PROGRAMS
F ,.
$
704,085.47 $
274,024.69
15,000.00
1,438.00
28,385,91
51,185.74
T
52188~.Q5
-
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$ ... - ._- _. - . -
. ...._. --_. - - _._-- -_. _. -- . - _._-......-
_ . -_. - -----.--_. - --_.. ..
$
17,208.94 $
69,419.58
207,134.51
232,991.02
$
2241343.45 $ ~.-.....-3_02...,.4. _1_0..6.....0. _
$
51 t 185.74
52.887.05
496,180.02 $
$
600~252.81 $
0._99_1._
0._00_
. ' . --_.. -_..- ... _-
._. - ..... .. -- - ---- ----
EXHIBIT "Gil
FEDERAL
PROGRAMS
$
3,312.05
OTHER
PROGRAMS
1
d
_II __ d
TOTALS
d JUNE 3D, 2000
JUNE 30, 19~9
$
981,422.21 $
903,749.68
15,000.00
15.000.00
461,315.97 $
45,378.50
536,518.38
409,464.77
_
z _ r
51, 185~74
54,905.38
.-
52,887.05
44,50q3.:.~1_u
$
45,378.50 $ _ __ __ ....... - _..... .. -_. --_. - -- . .. _-- .
. - -_. - _.
1,637,013.38 $
1,427 623.30 11 -_. __ .- --------_ ..
$.
$
75,748.07
251.382.08
79,449.78
$
37,365.32 $
37,365.32 162,376.59 691,507.61
79,449.78
$
32,445.09
144,377.95
654,543.71
_ _...5...1.528.23
970~699.30 $.
836 1894.98
-$
28,893.22
.$
51,185.74
52,887.05
$
58..1048.09 $ _ ____.8.,.0..._. 13_._18_
562,241.29
$
58,048.09_ $
8&.013.18 $
54,905.38
44,503.47
462,426~~5 .
$ _ _..... 628.02 4_64_ $ z.._. ..... -- ... ._-
...
.
. -_. - - _.. .. . - .
25-
:
CARROLL r
COUNTY d1
BOARD _
O* F
EDUCATION u
GOMBINING STATEMJ=.NT OF REVENWES1 EXPENDITURE~.AND Cf:tANGE& IN FUND. BALANCES
SPECIAL REVENUE FUND
.....
F7TF:tI
J"IIIIWIII'1IIIIAi _ _
YEAR_ENDED JUNE 30, 2000
REVENUES
State Funds Federal Funds Other Funds
Total Revenues
EXPEN DITURES-
Current Instruction Support Services Pupil SelVices
Improvement of Instructional Services
Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services
Other Support Services
Food Services Operation Community Services Operations
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES R Operating Transfers In
Excess of Revenues and Other Financing Sources over (under) Expenditures
FUND BALANCE JULY _F...
1II
b11AF7
1
Food Inventory ... Net Change in Period Donated Commodities Purchased Food
FUND BALANCE JUNE 30
WI
&
~
~
See notes to the general purpose financial statements.
.. 26 - .
SCHOOL
FOOD
SERVICES
FUND"
sp
-
-
LOTIERY PROGRAMS
$
313,746.00 $
2,412,216.67
__ 1,67_9,101.45
2,289,250.02
$ 4,405164.12 $ 2,289,250.02
$ 2,010,401.99
231,214.67 7,419.52
71,245.03
$ 4,313,019.46
,,
$ 4,313,019.46 $
$
92,044~66 $
3,357.29
31.46
-
_
dab
-34.419.94
_
Fd
$ 503,544.21
-3,719.64
F d 8!38~.58
0.00 0.00
_1
-
$
600)25=2=.81 $ 0.00 gal tet
t
--_ -- -
.... ,..... _.----.--........~ ....- - - - - _ . - . - .
.
EXHIBIT "H"
FEDERAL PROGRAMS
OTHER PROGRAMS
- TOT-ALS
YEAR ENDED
JUNE 3D, 2000
JUN; 3,.0, 1999
$ 1,912,572.00 $
3,470,688.58 . 81d 240.42
$
80,000.00 $
18,641.51
4,595,568.02 $
5,882,905.25
1L778,983.38
4,314,433.32 5,600,247.78 1,698,396 ..99
98,641.51 $ 12,257,456.65 $ 11 z613,078.09
$ 3,389,044.46 $
652,387.11 759,472.87
181,423.18 221,999.78 115,823.50
17,839.10
125,326.56
145,267.97
$ 54 608,584.53 $
$
-144.083.53 $
. 28,418.32 $ 5,427,864.77 $ 4,587,813.21
1,190.12
883,601.78 768,082.51
62,313.23
391.56
314,981.44 221,999.78 115,823.50
21,587.95
1
,
125,358.02
4.313,019.46
145 267.97
r. d n
I 9 Ld
IT
92.t313.2~ $ w.. 12,337,587.18 $
1,049,725.02 888,232.19 630.44 650,831.54
1,152.92
104,505.10 27,955.01
5,000.00 67,443.52 4,028,182.87 144,526.70
11 ,555,998.52
6,328.28 $
-80,130.53 $
57,079.57
$
-27,451.12 $
85,499.21
-
WJ
6.328.28 $ 1.684.9.0
151,052.35
194 010.34
d F l _ Fl ,
F
, J1 _
70,921.82 $
590,728.32
251,089.91 333,079.53
-3,719.64
8L~~~q?8
1,879.48 4,679.40
$
----~--_._-
8,013.18
:Ii N' ;
$ -=_1==,===6==6=6=,=3=1=4==.0==8=- $
- 27-
CARROLL COUNTY BOARD OF EDUCATION
d
Q it
_
...
COMBINING BALANCE SHEET
CAPITAL PROJECTS FUND
dElL _Iii
JUNE 30, 2000
EXHIBIT "I"
ASSETS Cash and Cash Equivalents Accounts Receivable
BOND PROCEEDS
SPECIAL PURPOSE LOCAL OPTION SALES TAA
TOTALS
d
JUNE 30, 2000 JUNE 30,.1999
$ 2,594,858.06 $ 2,107,262.10 $ 4,702,120.16 $ 15,027,431.64
1,424,616.84
1z245,930.73
Total Assets
========_=:t=1= $ 2,594,858.06 $ 3,531 ,878.94 $ 6,126,737.00 $ 16,273,362.37
p
dI. iiiiiiiIl....
Fr F
LIABILITIES AND FUND EQUITY
1
LIABILITIES
Contracts Payable Retainages Payable
Total Liabilities
FUND EQUITY I
Fund Balances Reserved For Purposes of Bond Issue For SPLOST Projects Unreserved Undesignated
Total Fund Equity
$ 208,272.75
622,856.47
$ 831,129.22
$ 208,272.75 $ 602,806.32
622J.~6.47
370,364.)3 7
$ 831,129.22 $ 973j70.85
$ 1t763t728~84 $
$ 1,763,728.84 $ 12,413,817.21
3,531 ,878~94
3,531 ,878.94
2.886,374.31
0.00
0.00
0.00
0.00
$ 1,723,728.84 $ 3,531 1878.94 $ 5,295J.607.78 $ 15,300l 191.52
Total Liabilities an-d Fund Equity
See notes to the general purpose financial statements.
- 28-
. - _ . CARROLL COUNTY BOARD OF EDUCATION
COMBINING STATEME~T OF REVENUES'\uEXPENDITURES AN'lP_CtlANGES IN FUND B~LANCES
CAPITAL PROJECTS FUND
Jll"F'dzLz
-"7"IIIWFF
YEAB.~*NDED JUNE 30& ?QQO
EXHIBIT IfJ"
REVENUES
BOND PROCEEDS
SPECIAL PURPOSE LOCAL OPTION SALES TAX
TOTALS
YEAR ENDED
np
I
F _
JUNE 30,2000 JUt'JErr3QJr 1999
Taxes Other Funds
$ 4,010,105.81 $ 4,010,105.81 $ 3.053,153.76
$
330t89~.82d
16~J611.09
498,419.91
, ,.~04,349.81
Total Revenues
$
EXPENDITURES
Current Support Services
Business Administration Capital Outlay
Land and Land Improvements Building and Building Improvements Equipment
Total Expenditures
Excess of Revenues over (under) Expenditures
OTt-jE;.~ FINANCING SOU~C_ES (USES}
$
$
976,689.98
12,726,179.85 $
8Q.9-,7~.~? I Uk ...
$. 14,5121664~10 $
$ 445.36
976.689.98 12.726t 625.21
809,794.27
84.206.70 8,550,296.11
323,571.56
44_1F"7_5.:z.3...6__~ $ __1~1.5jzb~.:tQ~.46 $ 9,070,642.70
$ -14J181,855.28 $ 4,177&.271.54_ $ -10,004.583.74 $ -5,213,139.13
Proceeds from General Obligation Bonds Par Value
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
$ 10,000,000.00
$ 3,531,766.91
$ 3,531,766.91
746,740.55
-
t $ -3,531,766.91
-3,531,766".91
-669,023.22
$ 3,531 1766.91 $_ -3,531 j 766.91 $
0._00_ $ 10,077,717.33
$ -10,650.088.37 $
645,504.63 $ -10,004.583.74 $ 4,864,578.20
FUNDJ' Q BA*LANC _ 11 lE, E_ JU _ LY 1
21.886,374.31
15.300J 191 .52
10~35r613.32 .
FUND BALANCE JUNE 30
see notes to the general purpose financial statements.
29
CARROLL COUNTY BOARD OF EDUCATION
d
7SIZ5J77""" _
7SI
IZ ~ 9
COMBINING BALANCE SHEET
1
Ld
DEBT__d SIE. RVICE FUND
JUNE 3D, 2000
EXHIBIT "Kit
ASSETS Cash and Cash Equivalents Accounts Receivable
PROPERTY
TAXES FOR
BOND DEBT......
SPECIAL
PURPOSE LOCAL OPTION
SALES TAX ...u
TOTALS
~UNE 30 t 2000
JUNE 30, 1999
$
552.61 $
0.00 $
552.61 $
215,478.65
-
-
- 0.00
0.00 _.
97.86
Tota1Assets
$-
552.61 $
azl2iiiiiiill&-.r.
&
'1
...
iibiIrMI& .au_ ,
- 552.61 FT
$ =======2=1=5=,=5=7==6=;.==5;=1==n
FUND EQUITY
Fund Balances Reserved For Debt Service Unreserved
Undesig nated
$
552.61 $
0.00
0.00 $ 0.00
552.61 $
215,576.51
0.00
JI
Jai.
I
0.0.0-
Total Fund Equity
$ : =552.61 $ =
0.00 $ ====_~====5=5=2=.26==1=== $ ===----=-2.=1-=5-=,li5==7=6==.=5=1=-=:
See notes to the general purpose financial statements. - 30-
CARROLL COUNTY BO~RD OF EDUCA110N
COM~I~ING.~TA1~MENT OF ".EVENUES, EXPI;NDITURES AND CHAlJGES.,IN FUNP BALANCES
D~l~T SERVICE FUNQ
YEAR ENDED JUNE 30, 2000
EXHIBIT "Lt'
REVENUES
Taxes Other Funds
Total Revenues
EXPENDITURES
Debt Service Principal Interest Paying Agent Fees
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES
F
u
Accrued Interest on Bonds Sold
Excess of Revenues and Other Financing Sources
over (under) Expenditures
FUND BALANCE JULY 1
PROPERTY
TAXES FOR BOND DEBT
SPECIAL
PURPOSE LOCAL OPTION
SALES TAX PIlI
TOTALS
-
tl
_
&
YEAR ENDED
F
JUNE 30, 2000
.,.
M
JUNE 30, 1999
-
'II
Qlllllll'VE
-
$
,1, 0.80 $ 4,243,814.25 $ 4,243,825~05 $ 4,090,774.94
JIIIII d
I
$
0.00 $ 3,820,000.00 $ 3,820.000.00 $ 3,640,000.00
638.848.95
638,848.95
450,461.67
511Wt.
111
159.0-0
$-
0.00 $
4,458,848.95 $ 4,090,620.67 &
-
--
lli
$
10.80 $
154.27
16,887.49
$
10.80 $
-215,034.70 $ ~215,023.90 $
17,041.76
- 541.81
215,034.70
215,576.51
198,534.75
FUND BALANCE JUNE 30
wr
F
See notes to the general purpose financial statements.
- 31 -
CABROLL COUNTY BOARD OF EDUCATION
COMBINING BALANCE SHEET
FIDUCIARY FUND TYPES
-
F
F
JUNE 3D, 2000
EXHIBIT "M'I
ASSETS Cash and Cash Equivalents Investments
NONEXPENDABLE
TRUST FUND
T
CARROLL COUNTY
BOARD OF
EDUCATION
TEACHER
DEVELOPMENT
SCHOLARSHIP
FUND
AGENCY FUNDS
$
2,210.08 $
12,000.00 $
TOTALS
JUNE 30 t 2000
JUNE 30 t 1999 'V 11II
4,643.80 $
- 40,700.00
..~9.z300.00
Total Assets
$ =:::===-=======3=0==,9==1=0==.0==8== $
14,433.72 $
_
F
$II
LIABILITIES AND FUND EQUITY
LIABILITIES ,ilia Funds Held for Others
FUND EQUITY
Fund Balances
Reserved
For Endowment Corpus
$
Unreserved
Undesignated
Total Fund Equity
$
$
27,965.70
3_0..b.9_1_0._08_
14,433.72 $ _ _1_5.-.,944_.4_8_
$
27.965.70 $
27,965.70
2,944. 38
1,636.42
$
30,910.08 $ _ _2_9_t6__02_...1...~. _
Total Liabilities and Fund Equity
$
19.21
-
=_ 30J910.08 $ =========1==4=,4==3==3.==72=:_ $ ==2==-=-4_5~43.80= $
451546.60
See notes to the general purpose financial statements.
CARROLL COUNTY BOARD OF EDUCATION
&
d&&
* PRIZ.-
JIII' .... 11&&...
:zbdi d
L
~
- - COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
FIDUCIARY FUND TYPE - AGENCY FUNDS
YEAR ENDfD JUNE 3D. 2000
EXHIBIT uN"
BALANCE
JULY 1, 1999
ADDITIONS
DEDUCTIONS
BALANCE
JUNE 30r. 200lL
QUINTON PRINCE SCHOLARSHIP FUND
ASSETS Cash and Cash Equivalents Investments
$
848~78 $
592.57 $
12JO_OQ~OOI __._w
m
_ _1
500.00 $
-
941.35
1f,OqO.OO
Total Assets
$
12.J,_848.78 $ TP1:IiIIII:Iadd__
592.57 $
lEa
\
=_
500.00
2
&
$ ==:======1==2==,=9=4==1=.::3==5:==
LIABILITIES Funds Held for Others
$ 12,848.78 $
ft-
. . . . 592.57
$
500.00
~---,---=
$
~
12
_
,
9_41-.3= 5
SPECIAL ACTIVITIES ACCOUNT
dill'
ASSETS Cash and Cash Equivalents
== $ Ed i 3,095.70
=:====Q,.O_ $
1 4 0_3 :::111111:l.
$ vv
7)617.36. $ _ .....1.~_4~g2_.3_7_
LIABILITIES Funds Held for Others
TOTALS - AGENCY FUNDS
*I1M111111d--.l_
III ....
&
ASSETS Cash and Cash Equivalents Investments
Total Assets
$ 1
$
3,944.48 $ 6,606.60 $
12,000.00
8,117.36 $
2,433.72
_ 1219... b
$
-_...._- 6,606.60 $
8,117.36 $
LIABILITIES Funds Held for Others
_...._- $
15,944~48 $
8(117.36 $
.1_4-.,4_33_-7_2~
See notes to the general purpose financial statements. - 33 - .
CARRO~L COVf\lTY e.OA8Q.9J~ ,EDUCATION
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
JQ
pm
m
YEAI3.ENDED JUNE 30, 2QOO
SCHEDULE "1"
FUNDING AGENCY PROGRAM/GRANT
I
Agriculture, U. S. Department of
Child Nutrition Cluster
Pass-Through From Georgia Department of Education
Food and Nutrition Program Food Services
School Breakfast Program
National School Lunch Program
Total Child Nutrition Cluster
CFDA
NUMBER
PASS-
THROUGH
ENTITY
ID
NUMBER
*I
FEDERAL
REVENUE
IN PERIOD
EXPENDITURES IN PERIOD
1
10.553 10.555
N/A
$ 539,237.20
(2)
N/A
1,655,361.37 $ 4,121,944.60 (3)
F
nq
.L
$ 2,194,598.57 $ 4,121,944.60
Other Programs .
Pass-Through From Georgia Department of Education
Food and Nutrition Program
Food Distribution Program (1)
PassThrough From Office of School Readiness Food and Nutrition Program Child and Adult Care Food Program
10.550 10.558
Total U. S. Department of Agriculture
Education, U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B Special Education Capacity Building Improvement Flow Through
Preschool Severely Emotionally Disturbed
* 84.173 * 84.027 * 84,173 * 84.027
-Total Special Education Cluster
N/A
191,074.86
191,074.86
N/A
26,543.24
(2)
------------ $ 2,412,216.67 $ 4,313,019.46 mr
N/A
$ 46,409.60 $
46,409.60
N1A
447,536.71
447,536.71
NJA
116,278.33
116,278Q33
N1A
-189,038.60
2,181 ,408.92 (3)
$ 799,263.24 $ 2,791.633.56
Other Programs
Pass-Through From Georgia Department of Education
Elementary and Secondary Education Ad
Title I
Even Start
Grants to Local Educational Agencies
Title II
Eisenhower Professional Development
Title VI
Innovative Education Program Strategies
Class Size Reduction
Goals 2000
State and Local Education Systemic Improvement
Grants
Technology Literacy Challenge Fund Grants
Vocational Education Basic Grants to States
High School Program
Basic Grant
84.213 84.010 84.281 84.298 84.340
84.276 84.318
84.048
TomIU.S.DepartmenlofEducation
N/A
190,391.00
256,011.40 (3)
N/A
1,726,929.16
1,726,929.16
NJA
57.841.82
57,841.82
N/A
69,324.41
69,324.41
NlA
255,830.00
255,830.00
N/A
108,775.65
137,668.87
N/A
8 ,134.98
8,134.98
N/A
101,249.70
109,563.77 (3)
$ 3,317,739.96 $ 5,412,937.97
-34 -
~Af{.~OL.~COUNTY BOARD OF EQ~~.81.t9N
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED J.UNE 3D, 2000
SCHEDULE "1 u
FUNDING AGENCY PROGRAM/GRANT
.1"._ III' d
Health and Human Services, U. S. Department of Pass-Through From Carroll County Department of Family and Children Services Family Preservation and Support Services
Time Limited Reunification and FamUy Visitation
Pass-Through From Georgia Department of Human
Resources
Georgia Child Care
Total u. S~ Department of Health and
Human Services
Labort U. S. Department of
Pass-Through From West Central Georgia Private
Industry Council
Job Training Partnership Act
CFDA
NUMBER
PASS..
THROUGH ENTITY ID
NUMBER
FEDERAL
REVENUE
IN PERIOD
EXPENDITURES
IN PERIOD
.,
F.
_
liP
93.556 93.556
93.575
N/A
$ 39,595.69 $
N/A
46,796.61
60,198.13 (3) 68,892.11 (3)
N/A
12,921.02
12,921.02
_711II.
_...
751
- - - $ 99,313.32 $
142,011.26
---~--
17.250
N/A $ 53,635.30 $ ---......5,3;".6"3,5...3-0-
Total Federal Financial Assistance
N/A = Not Available
-$ 5t 882,905.25 $
9,921,603.99
Notes to the Schedule of Expenditures of Federal Awards
(1) The amounts shown for the Food Distribution Program represents the Federally assigned val~e of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the Child and Adult Care Food Program and the"School Breakfast Program were not maintained separately and are induded in the 2000 National School Lunch Program.
(3) . Expenditures for this program indude State, and/or Other Funds.
Expenditures are not maintained by fund source.
Major Programs are identified by an asterisk (*) in front of the CFDA number.
The Board did nat provide Federal Assistance to any Subrecipient.
The accompanying schedule of expenditures of Federal awards includes the Federa1 grant activity of the Carron County Board of Education and is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the general purpose financial statements.
See notes to the general purpose financial statements.
- 35-
CARROLL COUNTY BOARD OF EDU~ATION
S- CHEDULE OF STATE REVENUE
YEAR ENDED JUNE 3D, 2000
SCHEDULE "2"
AGENCY/FUNDING
GRANTS Community Affairs, Georgia Department of Local Assistance 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 Program Special Instructional Assistance In-School Suspension Mid-term Adjustment Counselors Grades 4 and 5 Technology Specialist Local Five Mill Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Altemative Program Apprenticeship Program At-Risk Summer School Program Environmental Science Program Health Insurance Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Severe'y Emotionally Disturbed Special Education Low Incidence Grant Teachers'Retirement Lottery Programs Assistive Technology Computers in the Classroom Distant Learning
Human Resources f Georgia Department of Family Connection
Office of Planning and Budget Georgia Arts Challenge Grant
Office of School Readiness Pre-Kindergarten Program
Office of Treasury and Fiscal Services Public School Employees Retirement
CONTRACTS Education. Georgia Department of Reading Challenge Program
Georgia State University Reading Recovery Program
See notes to the general purpose financial statements~
GOVERNMENTAL FUND TYPES
SPECIAL
GENERAL
- FUND
REVENUE
FUND VXI111'R1
TOTAL ...-:... r
$
$
5.500.00
24,475,665.00 7.374,747.00
1t 179,653.00
1,077,398.00
308.906.00
6,550,742.00
1,489,026.00
429r085~OO
541,286.00 1.775.455.00
277.802.00 257,991.00
97,846.00
144f 212.00 -4,533,692.00 3,676J 116.00
$ 74,105.67
313.746.00
223.716.00 99,723.33 42,207.22 750.00 968,324.08
5,000.00
27,216.00 157.069.00
14,240.37
151000.00 43,014.84
1,9121572.00
48,419.91 251 91 06.00
4,176.00
2 4 ,4 7 5 , 6 6 5 . 0 0
7,374,747.00 1,179.653.00
1,077,398.00 308.906.00
6,550,742.00
1,489,026.00
429,085.00
541.286~OO
1775,455~OO
277.802.00 257,991.00
97,846.00 144,212.00 4,533,692.00 3,676.116.00
313,746.00
74.105.67
2231716.00
99.723.33 42,207.22
750.00 968,324.08
5,000.00 27,216.00 157,069.00 14,240.37 1,912,572.00 15,000.00 43.014.84
48.419.91 251,906.00
4.176.00
50,000.00
30.000.00
30,000.00
1,984,748.11
174,852.00 ,
12,000.00
45,000.00 12,000.00
$ 47,029,956.51 $ 4,595.568.02 $ 51,625,524.53 w
- 36
CARROLL COUNTY BOARD OF EDUCATION III2IIE
SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS
Sf
1_
YEAR ENDED JUNE 3D, 2000
SCHEDULE "3"
PROJECT
CARROLL COUNTY SCHOOL PROJECTS-
Maximum cost of $46.:;- .'(~"~,306.25 (includes capital outlay for building three (3) schools, acquiring land for schools and additions, improvements1 renovations, modifications and equipping of all existing schools) .
FINAL INSTALLMENT OF OUTSTANDING BONDED INDEBTEDNESS - Total cost of
$305,693.75 (represents remaining principal and interest on debt for 1974
general obligation school bonds)
ORIGINAL ESTIMATED ._ COST (11
CURRENT
,. ESTIMATED
fO~T (2)
AMOUNT
EXPENDED
IN CURRENT
YEAR {3) {4}
AMOUNT EXPENDED
IN PRIOR
- YEARS
......
$ 46.934,306.25 $ 46,934,306.25 $ 14,513,109.46 $ 11,217,734.53
305,693~75
- 305,693-.75
0.00
305,693.75
$ 47,240,000.00 r= lEI :: nEll
$ 47,240,000.00
$
14
,g513=,R1
09.46 r=Z=37m :
$ ===1==1=,=5==2::3=I,il4lli=2=8=l.=2==8_
(1) The Boardts original cost estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax.
(2) The Boardls current estimate of total cost for each project. Includes all cost from project inception to completion.
(3) The voters of Carroll County approved'the imposition of a 1% sales tax to fund the above projects~ Amounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the projects.
(4) In addition to the expenditures shown above, the Board has incurred interest to provide advance funding
for the above projects as follows:
Prior Years
$ 450,461.67
Current Year
638,848.95
Total
$ 1,089,310.62
See notes to the general purpose financial statements.
- - 37-
CARROLL COUNTY BOARD OF EDUCATION
ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL T GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 11IyEAR E~DED JU_~_~HaO, 2000
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 per Audit
Amount of Unde"rexpenditure for Total Allotment
FOURTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS
1000/0 TEST FOR
OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS
$
34,364,748.00 $
1 ,004,906~OO
-------~--
$
38,921,023.27
$ _ _ _ _ _ 1,_ 63_ 6-,8..5.9.-.7_0_ 1,350,646.81 _ _ _""--......0-_-
$
40,557,882.97
-601 t 192.65 *
. 39, ,956,690.32
$
0.00 $ ================"=0==.0==0=
See notes to the general purpose financial statements. - 39 -
CARROLL COUNTY BOARD OF EDUCATION iii
ANALYSIS OF MINIMUM EXPEND, ITURE REQUIREMENTS BY PROG,RAM
GENERAL FUND .. QUALITY BASIC EDUCATION PROGRAMS
F
XI
Q
azI&
YEAR ENDEQ JUNE,.30, 2000
GENERAL AND CAREER EDUCATION P..ROGRAMS
Kindergarten (*)
Grades 1 3 (*)
Sub-Total - K..3
Grades 4 .. 5 (*)
Grades 6 ... 8 (*)
Grades 9 .. 12 (*)
High School Laboratories (*)
Vocational Education Laboratories (*) .
Total General and Career Education Programs
SPECIAL EDUCATION PROGRAMS
IIIIIF b
-.p .. TL....-.zI IIILL:arT
.,
-
- - ALLOTMENTS FROM GEORGIA DEPARTMENT OF REQUIRED
ORIGINAL
%
ORIGINAL
MID-TERM
$
2~649,255.00
$ 2.384,329.50 $
0.00
...,
$
8t774~496.90 $
0.00
2,918,491.00 90
2,626,641.90
257,285.00
5.035,575.00 90
3, 188,179.00 90
2,869,361.10
2;057,693.00 90
1,851,923.70
1,526,286.00 90
$ 24.475.665.00
-------- $ 22,028,098.50 $
257.285.00
Category VI (Gifted) C*)
Total Special Education Programs
REJ..t1_~DIAL EDUCATION PROGRA~.o
Total Fourteen Weighted Programs
MEDIA CENTER PROGRAMS
,
d
Salaries
Operations
Total Media Center Programs
1,085,287.00 90
$ 7,374,747.00
$
$ .11_,179,65.3.00 90 $
976,758.30. F
- - - - - - - 6,637,272.30 $
0.00
.... - -__ 1,061,687~70 $
0.00 r __
_
$ 33.030,065,00
.$ 29,727,058.50 $
257,285.00
--~--
$
864,314.00
213.084.00
$ 1tOn,398.00
90 $
n7,882.60 $
100 v... 213,084.00 ........
$ IV __ 99Ot 966.60 $ _
0.00
_
0_ .0_0_
Total Fourteen Weighted and Media Center Programs $ 34,107,463.00
$ 30,718,025.10 $ =,.r:::.====2==5=7:=,;=2=8,=:51;;:.=0:1=0&-=
STAFF DEVELOPMENT PROGRAMS
Cost of Instruction
Professional Development
$
100,139.00
208,767.00
$
1DO.139.00 $
706.00
208.767.00
0.00
Total Staff Development Programs
(*) Identifies Fourteen Weighted Programs. See notes to the general purpose financial statements.
$
308,906.00 100 $
308,906.00 $ --
_ 706.00 ......... _._~
40
SCHEDULE "5"
- - EDUC..ATION TOTAL REQUIRED
ACTUAL EXPENDITURES
lli
r
SALARIES
OPERATIONS
TOTAL
AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT
$ 21384,329.50 $
50,358.59 $ 3, 1761543.30
--6,390,167.40
- 8,288,664.08
158,654~36
8,447,318.44
$
8~774.496.90 $
11 ,414~848.79 $
209t012~95 $ 11,623,861~74 $
0.00
4,265t 093.30
136,827.71
4.401,921.01
0.00
4,532,017.50
5,652,359.58
213,659.10
5,866,018.68
0.00
2,869,361.10
353,414.99
3,922,251.61
0.00
1,851,923.70
'1,780,359.35
72,423.77
1,852,783.12
0.00
-.. 1,373,657.40
150,463.71
1,889,277.72
o~oo
$ 22,285,383.50 $ 28,420,311.65 $ 1.135,802.23 $ 29,556,113.88
$ 5,660,514.00 $
387.752.34 $
939,988.67
5,024,725.98
409,211.11 49.292.08
9,618.63 $
6,171.85 49,666.57 14.974.52
1,916.89
397,370.97 946,160.52 5,074.392.55 424.185.63
51,208.97
$
6.810.970.18 $
82,348.46 $ 6.893,318.64
0.00
976,758.30
1.239.810.82 9
16,920.68
1.256.731.50
azIE
$
6.637,272.30
$
8,050,781.00 $
------~--
'.T J
99,269.14
_
$
8.150,050.14
$ 1,061,687.70 $
1,057,552.86 $
115,575.44 $ 1,173.128.30
0.00 0.00
$ 29,984,343950 $
37.528,645.51 $ 1,350,646.81 $
,
_
Lt.
38t 879,292.32
$
777~882.60 $
1,392,377.76
$ 1t392,377.76
0.00
- - - - - - 213,084.00
$
286.212.89
286,212.89
0.00
$
990,966.60 $
1,392,377.76 $
286t212.89 $ 1,678,590.65
$ 30,975~310.10 $ 38,921,023.27 $ 1,636,859.70 $ 40.557,882.97 $ ======================4 ====0=.=0;=0=
$
100,845.00
- 208,767.00
$
309,612.00
$
327.703.12 $
10,944.94
I1
'V
rr
327.703.12 10,944.94
$
338,648.06 $ 338,648.06 .$ 0.00 -.....---.
_.
~_._-_.
= ::== ==_aF'_W,W_Wa::,
---_._-~~-_._-----
- 41 -
SECTIONll
COMPLIANCE'AND INTERNAL CONTROL REPORTS
RUSSELL W. HINTON
STATE AUDITOR (404) 656..2174
DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214
Atlanta, Georgia 30334-8400
July 17, 2001
Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Carroll County Board ofEducation
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL 1
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REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN _
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ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
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Ladies and Gentlemen:
We have audited the financial statements ofCarroll CountyBoard ofEducation as ofand for the year ended June 30, 2000, and have issued our report thereon dated July 17, 2001. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We conducted our audit in accordance with auditing standards generally accepted in the United States of AmeriGa and the standards applicable to financial audits contained in OQvert11l1~J1t Auditing Standards, issued by the Comptroller General ofthe United States.
G.(lluj.1liaI1Ce
As part of obtaining reasonable assurance about whether Carroll County Board of Education's financial statements are free of material misstatement, we perfonned tests of its compliance with certain provisions oflaws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination offinancial statement amounts. However, providing an opinion on compliance with those provisions was not an objective ofour audit, and accordingly, we do not express such an opinion. The results ofour tests disclosed no instances ofnoncompliance that are required to be reported under Government Auditing Standards.
Internal Cop-!rol Over Financial Rell0rting
In planning and performing our audit, we considered Carroll County Board of Education's internal
control over financial reporting in order to detennine our auditing procedures for the purpose of
expressing our opinion on the financial statements and not to provide assurance on the internal
2000YB-40A
control over financial reporting. However, we noted a certain matter involving the internal control over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in ourjudgment, could adversely affect Carroll County Board ofEducation's ability to record, process, summarize and report financial data consistent with assertions of management in the financial statements. The reportable conditl0n is described in the aC90mpanying Schedule ofFindings and Questioned Costs as item FS-6221-00-01.
A material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of perfonning their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is considered to be a material
weakness.
This report is intended solely for the information and use ofmanagement, members ofthe Carroll County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Respectfully submitted,
~-.........
RWH:gp 2000YB-40A
Ru ell W. Hinton S.tate Auditor
RUSSELL W. HINTON
STATE AuorTOR
(404) 6562174
DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S~W., Suite 2) 4 Atlanta, Georgia 30334-8400
July 17, 2001
Honorable Roy E. Barnes, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Carroll County Board of Education
REPORT .O:N COMPLIANC~ __WITH.,REQUIREM&1'I~~ ...APPLICABLE TO EACH MAJOR
PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH
IZF
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OMB CIRC_ UdEa& LARA-133
1
Ladies and Gentlemen:
Conmliance
We have audited the compliance ofCarroll County Board ofEducation with the types ofcompliance
requirements described in the U.S. Office of Management and Budget (OMB) Circular A-i33
Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 2000. Carroll County Board of Education's major Federal programs are identified in the
accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility ofCarroll County Board ofEducation's management. Our responsibility is to express an opinion on Carroll County Board of Education's compliance based on our audit.
We conducted our audit ofcompliance in accordance with auditing standards generally accepted in the United States ofAmerica; the standards applicable to financial audits contained in GQvernment t\uditin!LStand~r<;is, issued by the Comptroller General of the United States; and OMB Circular A-
133, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and
OMB Circular A-I33 require that we plan and perfonn the audit to obtain reasonable assurance about whether noncompliance with the types ofcompliance requirements referred to above that could
have a direct and material effect on a major Federal program occurred. An audit includes examining,
on a test basis, evidence about the Carroll County Board of Education's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal detennination on Carroll County Board of Education's compliance with those requirements.
2000SA~lOA
In our opinion, the Carroll County Board of Education complied, in all material respects, with the requirements referred to above that are applicable to each ofits major Federal programs for the year ended June 30, 2000.
Internal Gon~[ol Over COI!1pliance
The management of Carroll County Board of Education is responsible for establishing and
maintaining effective internal control over compliance with requirements of laws, regulations,
contracts and grants applicable to Federal programs. In planning and perfonning our audit, we
considered Carroll County Board ofEducation's internal control over compliance with requirements
that could have a direct and material effect on a major Federal program in order to detennine our
auditing procedures for the purpose of expressing our opinion on compliance and to test and report
on internal control over compliance in accordance with OMB Circular A-I33.
.
Our consideration ofthe internal control over compliance would not necessarily disclose all matters in the internal control that might be material weaknesses. A material weakness is a condition in which the design or operation ofone or more ofthe internal control components does not reduce to a relatively low level of risk that noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in relation to a major Federal program being audited may
occur and not be detected within a timely period by employees in the normal course ofperforming
their assigned functions. We noted no matters involving the internal control over compliance and its operation that we consider to be material weaknesses.
This report is intended solely for the information an.d use of management, members of the Carroll County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended
to be and should not be used by anyone other than these specified parties.
Respectfully submitted,
RWH:gp 2000SA-IOA
to
Ru sell W. Hinton
State Auditor
..
SECTION ill AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS
CARROLL COUNTY BOARD OF EDUCATION
1irJII
111_
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...
AUDITEE'S RESPONSE
*
-
"111
SUMMARY SCHEDJJLE OF ~RIOR yeAR FINDINGS AND QUESTIO~D COST~
YEAR ENQED JUNE 30, 2000
PRIOR YEAR EINaNCIAL S.TAJEME~T INDINGS AND QUE~IIONEn. COvSTS
FINDING CONTROL NUMBER AND STATUS
FS-6221-98-01 FS-6221-99-01
Further Action Not Warranted Unresolved - See Corrective ActionIResponses
CORRECTIVE ACTION/RESPONSES
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group
Finding Control Number: FS-6221-99-01
. The Board and administration recognize the importance of maintaining a General Fixed Assets Account Group. However, staffing limitations and budgetary considerations preclude our being able to employ sufficient staffto carry out the process. Therefore, the Board chooses to not maintain a General Fixed Assets Account Group.
,
SECTION IV FINDINGS AND QUESTIONED COSTS
CARROLL COUNTY BOARD OF EDUCATION
I
:I _
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rrm
SC.tIEDULE OF FINDINGS AND QQPSTIONl;:D CO_STS
YEAR ENDED_~30~ 200.Q
I
-- SUMMARY
_.
dd
OF AUDITOR'S __ lift
RESULTS
1. Typ.e, of Report l~sued q,I1..the FinaI1ciaJ Stateme;nts The auditor's opinion on the Carroll County Board ofEducation's financial statements was qualified for various departures from generally accepted accounting principles.
2. Rep~rtable COQ.ditions in Internal Gontrol D~sclosed byJpe AudiJ Q..(the Fin~cial St'!,tements The audit report for the Carroll County Board ofEducation disclosed a financial statement reportable condition related to the following control category.
General Fixed Assets
The reportable condition described above is considered to be a material weakness.
3. NoncolllPlianceMaterial to the Financial Statements The audit ofthe Carroll County Board ofEducation disclosed no instances ofnoncompliance that were deemed to be material to the financial statements.
4. Report..able Conditions in Internal Control Over M,ajor Programs The audit report for the Carroll County Board ofEducation did not disclose any reportable conditions in internal control over major programs.
5. Type ofR!mort Issued on Compliance for Major Programs The auditor's opinion on the Carroll County Board ofEducation's report on compliance with requirements applicable to major programs was unqualified.
6. Audit Findings Reguired to bemR~orted 9Y Section .510CA) of OMB Circql~ A-133
. The Carroll County Board ofEducation's audit did not disclose audit findings required to be
reported by section .510(a) ofOMB Circular A-133.
..
7. MAior Programs Federal awards audited as major programs are as follows: 84.01 0 Elementary and Secondary Education Act - Title I - Grants to Local Educational Agencies 84.173 Individuals with Disabilities Education Act - Part B - Sp'ecial EducationCapacity Building Improvement 84.027 Individuals with Disabilities Education Act - Part B - Special EducationFlow Through 84.173 Individuals with Disabilities Education Act - Part B - Special Education Preschool 84.027 Individuals with Disabilities Education Act - Part B - Special EducationSeverely Emotionally Disturbed
- 1 ..
CARROLL COUNTY BOA... RD OF EDUCA-TION
SCHEDULE OF FINDINGS AND QUPSTIONED COSTS
YEAR ENDED JUN:E 30~ 2000
I SUMMARY OF AUDITOR'S RESULTS
azI
8. Type "An Program Dollar Threshold
The dollar threshold for type "An programs was $300,000.00.
9. Low Risk Auditee zL The Carroll County Board ofEducation was audited as a low risk auditee based on a waiver granted by the U. S. Department of Education.
IT FINANCIAL S_T,A,TJ~MENTEWINGS AND QUESTIONED COSTS
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition - Material Weakness Repeated From Prior Year Finding Control Number: FS-6221-00-01
The Carroll County Board of Education did not maintain a system-wide General Fixed Assets Account Group within the fonnal accounting records as required by generally accepted accounting principles. 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 ofa General Fixed Assets Account Group. These subsidiary records should include an
inventory ofland, 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.
Management's Response:
With regards to audit control number FS-6221-00-01 (Failure to Maintain General Fixed Assets
Account Group), the Board and administration recognize the importance ofmaintaining a general
fixed assets account group. However, staffing limitations and budgetary considerations preclude our
~
.
being able to employ sufficient staff to carry out the process. Therefore, the Board chooses to not
maintain a general fixed assets account group. .
ill FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
No matters were reported.
-2-