GA A~oo .Rl . E.:l~ _ C:.5':( 1gc/lt-9s AUPIT REPORT CLARKE COUNTY BOARD OF EDUCATION ATHENS,.GEORGIA . YEAR.ENDED JUNE 30, 1995 . STATE OF GEORGIA .DEPARTMENT OF AUDITS 254 WASHINGTON STREET ATLANTA, GEORGIA 30334_ CLARKE COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - Page SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE EXIIlBITS GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED STATEMENTS - OVERVIEW A COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP 2 B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES 4 C STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS 5 D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 6 ADDITIONAL FINANCIAL INFORMATION COMBINING STATEMENTS SPECIAL REVENUE FUND E COMBINING BALANCE SHEET 22 F COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 26 CAPITAL PROJECTS FUND G COMBINING BALANCE SHEET 30 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 31 FIDUCIARY FUND TYPES I COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS 32 SCHEDULES 1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 33 2 CASH AND CASH EQUIVALENTS 36 3 INVESTMENTS 37 4 ACCOUNTS RECEIVABLE - REGULAR ACCOUNTS 38 5 DEBT SERVICE REQUIREMENTS TO MATURITY 40 CLARKE COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS- SECTION I FINANCIAL ADDmONAL FINANCIAL INFORMATION SCHEDULES SCHEDULE OF REVENUE 6 STATE 42 7 LOCAL AND OTHER 43 SCHEDULE OF EXPENDITURES BY OBJECT 8 GENERAL AND SPECIAL REVENUE FUNDS 45 9 LOTTERY PROGRAMS 46 ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 10 OVERALL 49 11 BY PROGRAM 50 12 SCHEDULE OFCOMPENSATION AND TRAVEL OF BOARD MEMBERS 52 SECTION IT 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 CLARKE 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 PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SECTION I FINANCIAL CLAUDE L. VICKERS STATE AUDITOR (404) 656-2174 DEPARTMENT OF AUDITS AND ACCOUNTS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 May 23, 1996 Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation and Superintendent and Members ofthe Clarke 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 D) of the Clarke County Board ofEducation, as of and for the year ended June 30, 1995, as listed in the table ofcontents. These financial statements are the responsibility of the 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, 1995, 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: 95ARL-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, 1995, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share ofthese 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, 1994, were improperly recorded in the year ended June 30, 1995. 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, ifany, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy ofthe 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 Clarke County Board ofEducation as of June 30, 1995, and the results ofits operations for the year then ended, in conformity with generally accepted accounting principles. In ~rdance with Government Auditing Standards, we have also issued a report dated May 23, 1996, on our consideration ofthe Board's internal control structure and a report dated May 23, 1996, on its compliance with laws and regulations. Our audit was conducted for the purpose offorming an opinion on the general purpose financial statements ofthe Clarke County Board ofEducation taken as a whole. The combining statements (Exhibits E through I) and the financial schedules (Schedules 1 through 12 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 Clarke County Board ofEducation. 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 ofthe 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. 95ARL-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 ofthe State, as provided for by Official Code of Georgia Annotated Section 50-6-24. Respectfully submitted, ~~ Claude L. Vickers state Auditor CLV:cm 95ARL-13* CLARKE COUNTY BOARD OF EDUCATION - 1- CLARKE COVNJY BOARD Of EDUCATION COMBINED BALANCE SHEET ALL FUND TYPES ANP ACCOUNT GROUP JUNE 30, 1995 ~ Cash and Cash Equivalents Investments Accounts Receivable Regular Accounts Long-Term Accounts Receivable from Individuals Long-Term Notes Receivable Prepaid Items Inventories Consumable Supplies Food Donated Commodities Purchased Food Amount Available in Debt Service Fund Amount to be Provided in Future Years For Payment cl: Long-Term Note Payable Capital Lease Agreements Compensated Absences Bond Debt Total Assets GENERAL FUND s ns,a11.eo 3,356,386.65 GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND $ 3,204,710.75 1,730,120.50 658,m.os s 111,620.00 11,870.79 16,431.93 1,4151,897.97 506,990.73 212,894.97 141,624.56 32,650.42 s s s 5,144.798.99 1,626.1n.es 5,441,a21.98 LIABILITIES AND FUND Eaurry LIABILITIES Cash Overdraft Accounts Payable Selaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Funds Held for Others Capital Lease Agreements Compensated Absences Long-Term Notes Payable General Obligation Bonds Payable Total Liabilities FUND EQUITY Fund Balances Reserved For Continuation of Federal Programs For Continuation of State Programs For Court Ordered Restitution Payments For Default on Sabbatical Leave For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Consumable Supplies Food Donated Commodities Purchased Food For State Capital Outlay Projects Unreserved Designated for Self Insurance Program Undesignated Total Fund Equity $ $ 1,373,050.08 16,536.12 202,229.33 195,628.89 $ 423,856.59 22,760.42 32,91t56 793,543.20 541,021.86 $ 1,389,586.20 $ 844,495.23 $ 1,367,479.62 $ $ 111,620.00 11,870.79 94,367.00 212,894.97 $ 430,752.76 $ 52,986.92 3,271,473.11 3,755,212.79 $ 3,571.33 8,428.92 4,656.70 141,624.56 32,650.42 $ 190,931.93 $ 4.033~79.55 4,033,279.55 590,7415.79 41,062.81 1a1,an.n s 4,074,342.36 Total Liabilities and Fund Equity The notes to the general purpose financial statements are an integral part of this statement. -2- s s,144,798.99 s 1,&2a11n.es s 5,441,621.98 EXHIBIT"A" DEBT SERVICE FUND FIDUCIARY FUND TYPES AGENCY FUNDS $ 916,437.12 $ 15,965.65 ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTAL {Memorandum On~} $ 4,913,931.12 5,086,507.15 22,939.65 2,640,605..40 111,620.00 11,870.79 16,431.93 $ 939,376.77 212,894.97 141,624.56 32,650.42 939,376.77 154,835.52 1,717,011.32 3441, 195.19 22,080,623.23 154,835.52 1,717,011.32 344,195.19 22,080,62323 $ 939.376.77 $ 15.965.65 $ 25.2361042.03 $ 3814041178.37 $ 202,229.33 1,601,593.53 440,392.71 22,780..42 793,543.20 541,021.86 $ 15,965.65 15,965.65 $ 1,717,011.32 1,717,011.32 . 344,195.19 344,195.19 154,835.52 154,835.52 23,020,000.00 23,020,000.00 $ 15,965.65 S 25,236,042.03 $ _ _--'2::,:8:;,p;:,85=3,i:;568=.73-=- $ 939,376.77 $ 939,376.77 0.00 S $ 939,376.77 $ $ 939.376.77 $ 0.00 0.00 151965.65 $ $ $ $ 2512361042.03 $ 3,571.33 8,428.92 111,620.00 11,870.79 939,376.77 99,023.70 212,894.97 141,624.56 32,650.42 4,033,279.55 5,594,341.01 52,986.92 3.903~81.71 9,550,609.64 38,404', 178.37 3 CLARKE CQUNJY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1995 EXHIBIT"B" GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND DEBT SERVICE FUND TOTAL ~morandum On~} REVENUES State Funds Federal Funds Local and Other Funds $ 29,369,535.84 $ 2,194,597.00 $ 5,790.n8.60 $ 385,863.03 5,254,169.87 28,152,146.88 942,79527 95,192.96 $ 2,851,446.67 37,354,911.44 5,640,032.90 32,041,581.78 Total Revenues $ 57,907,545.75 $ 8,391,562.14 $ 5,885,971.56 $ 2,851,446.67 $ 75,036,526.12 EXPENPfIURES 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 Community Service Operations Other Operations of Non-Instructional Services Capital Outlay Debt Service Principal Interest Paying Agent Fees $ 34,378,095.04 $ 3,415,52524 $ 1,432,396.03 1,266,429.94 1,188,344.n 1,389,217.84 3,271,380.84 654,128.57 5,896,238.48 2,614,450.93 643,997.14 455,020.38 1,552.14 567,328.86 698,522.n 143,0n.04 224,86622 188,963.90 52,867.79 15,715.39 80,279.85 181,025.85 276,3n23 3,666,560.85 285,216.53 146,630.19 30,522.08 $ 8,905,13325 483,419.76 130,757.51 70,567.73 $ 2,545,000.00 1,903,450.00 8,340.23 37,793,62028 2,130,918.80 1,409,506.98 1,413,210.94 1,578,181.74 3,324,248.43 669,843.96 5,976,518.33 2,795,476.78 643,997.14 731,392.61 3,668,112.99 567,328.86 285,216.53 9,082,285.52 3,098,987.49 2,034,207.51 8,340.23 Total Expenditures $ 54,804,604.70 $ 9,044,866.94 $ 8,905,133.25 $ 4,456,79023 $ n~11,395.12 Excess of Revenues over (under) Expenditures $ 3,102,941.05 $ -653,304.80 $ -3,019,161.69 $ -1,605,343.56 $ -2,174,869.00 OTHER Fltw:!CING SQ!.!RCES (YSES) Capital Leases Operating Transfers In Operating Transfers Out $ $ -5,ns,426.65 252,940.70 5,848.90 $ 5,n3,7n.75 $ 252,940.70 5,ns,426.85 -5, 779,426.65 Total Other Financing Sources (Uses) s $ -5,n9,426.65 258,589.60 $ 5,n3,m.75 $ 252,940.70 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -2,676,485.60 $ -394,71520 $ 2,754,616.06 $ -1,605,343.56 $ FUND BALANCE JUI.):'. 1. 1994 (Restated - See Note 1) 6,431,698.39 1,190,709.42 1,319,n6.30 2,544,720.33 -1,921,928.30 11,486,854.44 Food Inventory - Net Change in Period Donated Commodities Purchased Food ~.701.68 -7,614.82 ~.701.68 -7 614.82 FUNQ BALANCE JUN!; ;K!, 1995 s $ 3.755,212.79 $ 781 1677.n 41074,342.36 $ 939,376.77 $ 91550,609.84 The notes to the general purpose financial statements are an integral part of this statement. -4- CLARKE COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 1995 EXHIBITc GENERAL FUND ACTUAL (BUDGET BUDGET BASIS) REVENUES State Funds Federal Funds Local and Other Funds $ 29,240,281.00 $ 29,369,535.84 118,000.00 385,863.03 27,612,434.50 28,152,146.88 Total Revenues $ 56,970,715.50 $ 57,907,545.75 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 Community Service Operations Other Operations of Non-Instructional Services Capital Outlay Debt Service $ 34,268,819.79 $ 34,378,095.04 1,432,803.00 1,297,449.00 1,435,380.14 1,400,436.00 3,283,857.00 633,211.00 6,164,471.85 3,169,701.12 692,448.00 460,857.65 2,000.00 407,994.00 285,091.00 240,800.00 1,432,396.03 1,266,429.94 1,188,344.72 1,389,217.84 3,271,380.64 654,128.57 5,896,238.48 2,614,450.93 643,997.14 455,020.38 1,552.14 567,328.86 285,216.53 146,630.19 614,1n.27 Total Expenditures $ 55,175,319.55 $ 54,804,604.70 Excess of Revenues over (under) Expenditures $ 1,795,395.95 $ 3,102,941.05 OTHER FINANCING SOURCES (USES) Other Sources Other Uses $ -5,941,355.00 $ .s,ns,426.65 Total Other Financing Sources (Uses) $ -5,941,355.00 $ -5,n9.426.65 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -4,145,959.05 $ -2,676,485.60 FUND BALANCE JULY 1, 1994 6,910,886.60 6,431,698.39 Adjustments SPECIAL REVENUE FUND ACTUAL (BUDGET BUDGET BASIS) $ 2,003,837.00 $ 2,194,597.00 5,590,980.00 5,254,169.87 1,140,490.00 942,795.27 $ 8,735,307.00 $ 8,391,562.14 $ 3,367,945.00 $ 3,415,52524 698,541.00 180,564.00 5,620.00 201,539.00 34,678.00 8,548.00 8,800.00 698,522.n 143,on.04 224,866.22 188,963.90 52,867.79 15,715.39 80,279.85 181,025.85 372,350.00 276,372.23 3,765,310.00 3,666,560.85 6,052.00 30,522.08 70,567.73 $ 8,649,947.00 $ 9,044,866.94 $ 85,360.00 $ -653,304.80 $ 258,589.60 $ 0.00 $ 0.00 $ 258,589.60 $ 85,360.00 $ -394,715.20 883,741.42 1,002,117.94 -20,135.00 FUND BALANCE JUNE 30, 1995 $ 2,764,927.55 $ 3,755,212.79 $ 948,966.42 $ 607,402.74 The notes to the general purpose financial statements are an integral part of this statement. -5- CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Clarke County Board ofEducation (Board) was established under the laws ofthe State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. Wrth the exception ofthe departures from generally accepted accounting principles disclosed in these notes, 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 ofthe 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 Clarke County Board ofEducation. Based upon the application of the above criteria, the Clarke 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 Clarke County, Georgia. 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, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate 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 ofits 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. - 6- CLARKE COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS JUNE 30, 1995 Note I: 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 ofa 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 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 TYPE - the agency fund used to account for assets held by a government unit as an agent for individuals, private organizations, other government units and/or other funds. These funds include: AGENCY FUNDS - the funds used to account for assets held for other governments or individuals. ACCOUNT GROUP GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding, material accrued compensated absences, long-term notes payable and material capital lease obligations. - 7- CLARKE COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF ACCOUNTING The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities 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. Agency funds are purely custodial in nature and do not involve measurement of results of operations. Governmental funds 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 ofthe 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. 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 1995, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1994 and ending in early June 1995. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. 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, 1995, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1995, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1995. Also, the State's portion ofthe compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were recorded in the year ended June 30, 1995. 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. - 8- CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Agency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. RESTATEMENT OF PRIOR YEAR FUND BALANCE In prior years, the risk financing activities for the Board's unemployment compensation liabilities were reported as a Insurance trust fund. This fund had a fund balance of$81,434.00 at June 30, 1994. For fiscal year 1995, this fund has been reported in the General Fund. The fund balance at July 1, 1994, has been restated as appropriate. In addition, certain reclassifications have been made to the beginning fund balances to conform to the current year format. BUDGET The Clarke County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate 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 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 may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. The Statement ofRevenues, 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 actual revenues, expenditures and fund balance as reflected on Exhibit "B" of this report: - 9- CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Excess ofRevenues and Other Sources of Financial Resources over (under) Expenditures and Other Financing Uses Fund Balance July 1, 1994 Adjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods Fund Balance June 30, 1995 (Budget Basis) Special Revenue Fund $ -394,715.20 1,190,709.42 -148,326.24 -40,265.24 $ 607,402, 74 CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including N.O.W. accounts) in authorized financial institutions. Georgia Laws authoriz.e 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 of proceeds 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 ofthe United States government, (5) Prime banker's acceptances, - 10 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT D 11 11 NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\ffiNTS JUNE 30. 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (6) The Local Government Investment Pool administered by the State of Georgia, Office ofTreasury and Fiscal Services, (7) Repurchase agreements, and (8) Obligations of other political subdivisions ofthe State of Georgia. ACCOUNTS RECEIVABLE REGULAR ACCOUNTS 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. LONG-TERM RECEIVABLES FROM INDIVIDUALS Long-Term receivables from individuals consist of amounts due from various individuals for court ordered restitution payments due to the Board. LONG-TERM NOTES RECEIVABLE Long-Term notes receivable consist of amounts due from various individuals who have failed to fulfill the contractual requirements for their sabbatical leave of absence. PROPERTY TAXES The Clarke County Board ofCommissioners fixed the property tax levy for the 1994 tax year (calendar year) on July 19, 1994 (levy date). Taxes were due on October 20, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70.103. The Clarke 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 oftaxes collected to the Board. Tax millage rates levied for the 1994 tax year (calendar year) for the Clarke County Board ofEducation were as follows (a mill equals $1 per thousand dollars of assessed value): School Operations School Bonds 20.00 mills 1.88 mills 21.88 mills - 11 - CLARKE COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES INVENTORIES CONSUMABLE SUPPLIES INVENTORY Inventories of consumable supplies are reported on the Combined Balance Sheet at weighted average cost. The Board uses the consumption method to account for consumable supplies inventory whereby an asset is recorded when supplies are purchased and expenditures are recorded at the time supplies are utilized. The inventory reported on the balance sheet is equally offset by a reservation offund balance which indicates that it does not constitute "available spendable resources" even though it is a component unit ofnet current assets. 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. 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 of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations offund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets. PREPAID ITEMS Payments made to vendors for services that will benefit periods subsequent to June 30, 1995, are recorded as prepaid items. 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 oniyto 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. 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: - 12 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Reimbursements ofexpenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed. Operating transfers are recorded for all interfund transactions other than reimbursements. MEMORANDUM ONLY - TOTAL COLUMNS The total column on the general purpose :financial statements is captioned "Memorandum Only" to indicate that it is presented only to facilitate :financial analysis. Data in this column does not present :financial position or results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. 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. The aggregate of the face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction of the 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 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 ofindebtedness or other direct obligations ofthe United States or of the State ofGeorgia, (4) Bonds, bills, notes, certificates ofindebtedness or other obligations ofthe 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 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 - 13 - CLARKE COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS JUNE 30, 1995 Note 2: DEPOSITS AND INVEST:MENTS (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 Bank, the Federal Home Loan Banlc, the Federal Intermediate Credit Bank, the Central Banlc for Cooperatives, the Farm Credit Banlcs, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. CATEGORIZATION OF DEPOSITS At June 30, 1995, the banlc balances were $7,010,797.97. The amounts of the total banlc 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 banlc 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, 1995, as follows: Risk Category 1 2 3 Total Banlc Balance $ 101,594.05 6,909,203.92 0.00 $7,010 797.97 CATEGORIZATION OF INVEST:MENTS At June 30, 1995, the carrying amount of the Board's total investments was $5,086,507.15 and consisted entirely of funds in the Local Government Investment Pool administered by the State of Georgia, 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. The investment policy ofthe State of Georgia, Office of Treasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments. 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 - 14 - CLARKE COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 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 illnesses or injuries to employees; natural disaster; and unemployment compensation. The Board has obtained commercial insurance for risk ofloss associated with torts and assets. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. The Board has obtained commercial insurance for errors and omissions, however the policy excludes coverage for sexual harassment and discrimination claims. The Board has not experienced any losses related to errors or omissions in the past three years. The Board has elected to self-insure for all losses related to natural disasters. The Board has not experienced any losses related to natural disasters in the past three years. The Board is self-insured with regard to unemployment compensation claims. A premium is charged by the General Fund to each user fund on the basis ofthe percentage of that fund's payroll to total payroll in order to cover estimated claims budgeted by management based on known claims and prior experience. The Board accounts for claims with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. Changes in the unemployment compensation claims liability during the last two fiscal years are as follows: Beginning ofYear Liability Claims and Changes in Estimates Claims Paid EndofYear Liability 1994 1995 $ 5,393.00 $ 19,357.76 $ 15,661.76 $ 9,089.00 $ 9,089.00 $ 25,414.69 $ 28,447.69 $ 6,056.00 The Board participates in the Georgia School Boards Association Workers' Compensation Fund, a public entity risk pool organized on July 1, 1992 to develop, implement, and administer a program of workers' compensation self-insurance for its member organizations. The Board pays an annual premium to the Fund for its general insurance coverage. Additional insurance coverage is provided through an agreement by the Fund with the Safety National Casualty Corporation to provide coverage for potential losses sustained by the Fund in excess of $250,000.00 loss per occurrence, up to the statutory limit. Also, should losses within the retained limit of $250,000.00 aggregate to more than eighty-five percent (85%) of the standard experience rated premium during the policy term, the policy with Safety National Casualty Corporation will pay the next $1,000,000.00 ofloss. - 15 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 5: GENERAL LONG-TERM DEBT CAPITAL LEASES The Clarke County Board of Education has entered into various lease agreements as lessee for buses and equipment. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as ofthe date oftheir inception. - LONG-TERM NOTE PAYABLE The long-term note payable is an outstanding loan from the U. S. Environmental Protection Agency. On June 16, 1992, the Board entered into an agreement with the U.S. Environmental Protection Agency (EPA) for assistance in accordance with the provisions ofthe Asbestos School Hazard Agreement Authorization Act of 1990 in the amount of$174,190.00. The terms ofthe agreement (loan) are to repay the amount in 36 semiannual installments of$4,838.62. The first payment was made on November 30, 1993. The balance of the loan at June 30, 1995 was $154,835.52. Final payment on the loan must be made by May 30, 2012. The loan provides for no interest charges, except when payments are in default (late). Payments on this loan are , to be provided from the General Fund. The changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: Capital Leases Compensated Absences Long-Tenn Notes Payable General Obligation Bonds Total Balance July 1, 1994 $ 0.00 $ 296,478.00 $ 164,512.76 $ 43,300,000.00 $43,760,990.76 Retroactive Restatement ofPrior Year Balances (See Note 6) 2,008380.87 -l7,73S,000.00 -1S,726,619.13 Balance July 1, 1994 Restated $2,008,380.87 $ 296,478.00 $ 164,512.76 $ 25,565,000.00 $ 28,034,371.63 Additions 252,940.70 47,717.19 300,657.89 Deletions S44310.2S 9,677.24 2,545,000.00 3,098,987.49 Balance June 30, 199S S 1 :Zl:Z 011.32 $ 344125 12 $ 154 835 52 S 23 020 000 00 S 25J36 042 03 At June 30, 1995, payments due, by fiscal year which includes principal and interest for these items are as follows: - 16 - CLARKE COUNTY BOARD OF EDUCATION EXIDBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 5: GENERAL LONG-TERM DEBT Fiscal Year Ended June 30 1996 1997 1998 1999 2000 2001 and thereafter Total Principal and Interest Deduct Imputed Interest Net Present Value ofFuture Minimum Lease Payments Capital Leases EPA Assistance Agreement General Obligation Bonds Total Debt s 675,067.76 675,067.76 460,958.88 132,935.66 s 9,67724 9,67724 9,67724 9,67724 9,67724 106,449.32 s 598,379.75 2,522,37625 2,530,02625 2,525,893.75 2,525,42625 21J89,715.25 S 1,283,124.75 3,207,12125 3,000,662.37 2,668,506.65 2,535,103.49 21,496,164.57 S 1,944,030.06 s 154 835.52 $32 091 817.50 $34 190,683.08 227,018.74 S 111701132 Note 6: PRIOR YEAR DEFEASEMENT OF DEBT In fiscal year 1993, the Board defeased certain general obligation bonds by placing the proceeds ofnew bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the Board's general purpose financial statements. This is a change from the presentation in the prior year audit which did not disclose the bonds defeased and included the refunded bonds in the Board's outstanding long-term debt with an offset in the asset account. At June 30, 1995, $17,170,000.00 ofbonds are outstanding and are considered defeased. Note 7: SIGNIFICANT COMMITMENTS The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1995, together with funding available: Project Unearned Executed Contracts Fundinf Availab e From State 95/94S-629-013A 95/94S-629-013B $1,617,352.49 $ 114,809.40 1,561,042.38 0.00 $3,178,394.87 $ 114,809 40 The amounts described in this note are not reflected in the general purpose financial statements. - 17 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 8: 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, ifany, will be immaterial to its overall financial position. The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable. Note 9: SUBSEQUENT EVENTS In the subsequent fiscal year, three law suits involving the Clarke County Board ofEducation were settled with payments from the Board totaling $324,159.25 during fiscal year 1996. The first complaint involved a teacher employed by the Board and alleged violations under the Civil Rights Act Title VII and 42 U.S.C. Section 1983. A verdict was rendered in favor of the Plaintiff against the Board, Superintendent and Assistant Superintendent. A subsequent appeal was settled for $485,000.00. The Board paid $179,650.00 of the total settlement and the Insurance carrier for the Board paid the balance. The second complaint involved the sale of a computer leased by the Board and a former Assistant Superintendent. A verdict was rendered against the Board and subsequent appeals were settled. The Board paid $95,509.25 to the Inter American Data, Incorporated subsequent to June 30, 1995. The third complaint involved a student's rights to benefits under Individuals with Disabilities Act, 42 U.S.C. Section 1983, and Rehabilitation Act of 1973. This case was settled for $70,000.00. The Board paid $49,000.00 and the insurance carrier for the Board paid $21,000.00. Note IO: ACCUMULATED EMPLOYEES' LEAVE Full-time twelve month employees earn annual leave ranging from ten to fifteen days each year depending upon the employees' length ofcontinuous Board service with a maximum accumulation of thirty days. Employees are paid at their current rate of pay for unused accumulated annual leave upon retirement or termination of employment. See Note 1- Compensated Absences Note 11: 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). - 18 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 11: RETIREMENT PLANS TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years ofcreditable service, regardless ofage, or after 10 years ofservice and attainment ofage 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 of years 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 ofdisability or death. 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. The Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $34,120,688.94; total payroll was $40,249,471.55. TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe 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 ofTrustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1995 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 1995 amounted to $5,735,693.64, ofwhich $4,029,653.35 was made by the Board and $1,706,040.29 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. 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 - 19 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 11: RETIREMENT PLANS 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 ofJune 30, 1994, was as follows: Total pension benefit obligation $15,313,743,000.00 Net assets available for benefits, at.cost 14,254,785,000.00 Unfunded pension benefit obligation $ 1,058.958 000.00 The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements ofassets and pension benefit obligation for individual employers. Total contributions from all employers to TRS for fiscal year ended June 30, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of$4,029,653.35 was actuarially determined and represented .7131% of total contributions made by all participating employers. Ten year historical trend information is presented in the 1995 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 in accordance with State statute. PSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment ofage 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 ofyears of creditable service. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. - 20 - CLARKE COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 11: RETIREMENT PLANS Retirement provisions include death and disability benefits. Disability benefits are the same as ifthe 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 ofservice. Ifthere are less than ten years of service, a lump sum refund ofthe 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 ofwhat 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 436 employees covered under PSERS for the year ended June 30, 1995. 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 contnbution 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 contnbutions from employees ofthe Board made during fiscal year 1995 amounted to $13,976.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00. Note 12: SURETY BONDS Dr. John L. Balentine, School Superintendent through August 22, 1995, was bonded in the amount of $250,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 18284995. The School Superintendent, Dr. Lucian Harris, effective August 23, 1995, is bonded in the amount of $250,000.00 with the Western Surety Company, Sioux Falls, South Dakota, their Bond No. 68448622, on which premium is paid through July 1, 1996. - 21 - CLARKE COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1995 ASSETS Cash and Cash Equivalents 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 Continuation of State Programs For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity See notes to the general purpose financial statements. SCHOOL FOOD SERVICES FUND LOTTERY PROGRAMS EDUCATION OF CHILDREN IN STATE SCHOOLS $ 683,513.04 91,095.12 $ 317,412.95 $ 1,519.00 141,624.56 32,650.42 ------- $ 948,883.14 $ 317,412.95 $ 1,519.00 $ $ 13,164.09 172,079.54 234,198.30 $ 52,131.35 18,244.00 $ 185,243.63 $ 304,573.65 $ 1,519.00 1,519.00 $ 8,428.92 4,410.38 $ 141,624.56 32,650.42 $ 174,274.98 $ 12,839.30 589,364.53 0.00 $ 0.00 $ 763,639.51 $ 12,839.30 $ 0.00 - - - - - - - $ 948,883.14 $ 317,412.95 $ 1,519.00 -22- EXHIBIT"E" Page 1 ELEMENTARY AND SECONDARY EDUCATION ACT CHAPTER 1 EDUCATION OF DEPRNED CHILDREN MIGRANT PROGRAM STATE PROGRAM IMPROVEMENT CHAPTER2 BLOCK GRANT FLOW THROUGH TITLE 11- EISENHOWER MATHEMATICS FOREIGN AND SCIENCE LANGUAGES EDUCATION ASSISTANCE $ 3,444.34 $ 750,383.63 $ 19,293.08 $ 14,348.00 $ 11,350.00 $ 333.29 $ 750,383.63 $ 3,444.34 $ 19,293.08 $ 14,348.00 $ ------ 11,350.00 $ 333.29 $ 449,683.34 $ 12,928.47 $ 99,705.15 $ 1,084.34 5,674.61 185,885.13 2,360.00 15,110.01 690.00 $ 750,383.63 $ 3,444.34 $ 19,293.08 $ 261.02 $ 4,065.97 9,309.04 711.97 14,348.00 $ 8,514.74 $ 2,834.72 11,349.46 $ 333.29 333.29 $ 0.54 s _ _ _ _ _ _o_.o_o_ s $ 0.00 $ $ 750,383.63 $ $ 0.54 o.oo s _ _ _ _ _o_.oo_ s _ _ _ _ _o_.oo_ _ _ _ _ _o._oo_ s _ _ _ _ _o._oo_ 0.00 $ _ _ _ _ _0_.00_ $ _ _ _ _ _0_.00_ $ _ _ _ _ _0._54_ $ _ _ _ _ _0._00_ 3.444.34 s _ _ _1s_._29_3_.oa_ s 14,348.oo s _ _ _1_1_.3_so_._oo_ s _ _ _ _3_3_3_._29_ -23- CLARKE COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30, 1995 ASSETS Cash and Cash Equivalents 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 Continuation of State Programs For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity See notes to the general purpose financial statements. INDMDUALS WITH DISABILITIES EDUCATION ACT TITLE VI, B FLOW PRESCHOOL THROUGH PROGRAM FAMILY CONNECTION FUND $ 118,282.18 $ 58,449.87 $ 16,130.67 $ 118,282.18 $ s _ _ _ ss,449.87 1e_.1_30_.e_1 $ 99,403.70 $ 6,083.20 12,694.94 100.34 $ 118,282.18 $ 52,114.92 $ 1,394.51 4,940.44 58,449.87 $ 11,850.98 2,898.43 14,749.41 $ 0.00 $ 0.00 $ 1,381.26 $ 0.00 $ 0.00 $ 1,381.26 $ 118,282.18 $ - - - - - 58,449.87 $ 16,130.67 -24- EXHIBIT"E" Page2 STATE PRESCHOOL HANDICAPPED PROGRAM DRUG-FREE SCHOOLS AND COMMUNITIES ACT STEWARTS. MCKINNEY HOMELESS ASSISTANCE ACT EDUCATION FOR HOMELESS CHILDREN AND YOUTH JOB TRAINING PARTNERSHIP ACT TOTAL $ 1,726.31 $ 549.87 $ 689,233.56 10,620.00 $ 18,376.49 $ 24,303.69 1,451,897.97 141,624.56 32,650.42 $ ------- ------- 1,726.31 $ 11,169.87 $ 18,376.49 $ 24,303.69 $ 2,315,406.51 $ 1,670.86 $ 55.45 $ 1,726.31 $ $ 549.57 10,620.30 11,1.69.87 $ 8,634.78 $ 2,179.40 1,602.94 5,959.37 18,376.49 $ 12,020.35 $ 2,192.69 6,120.26 153.28 891,462.89 195,628.89 423,856.59 22,780.42 20,486.58 $ 1,533,728.79 $ 0.00 $ $ 0.00 $ $ 1,726.31 $ 0.00 $ 0.00 $ $ $ 0.00 0.00 $ 3,570.79 $ 246.32 3,571.33 8,428.92 4,656.70 3,817.11 $ 0.00 3,817.11 $ 141,624.56 32,650.42 190,931.93 590,745.79 781,6TT.72 11,169.87 $ _ _ _ _1_8._31_e_.4_9 $ 24,303.69 $ 2,315,406.51 - 25- CLARKE COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1995 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 Other Support Services Food Services Operation Capital Outlay Debt Service Principal Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES) Capital Leases Operating Transfers In Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1, 1994 Food Inventory - Net Change in Period Donated Commodities Purchased Food FUND BALANCE JUNE 30, 1995 See notes to the general purpose financial statements. SCHOOL FOOD SERVICES FUND LOTTERY PROGRAMS EDUCATION OF CHILDREN IN STATE SCHOOLS $ 249,769.00 $ 2,556,336.09 929,999.31 $ 3,736,104.40 $ 1,677,864.45 $ 8,682.50 1,686,546.95 $ 15,511.00 15,511.00 $ $ 3,665,603.45 1,101,442.74 $ 412,129.33 24,088.91 223,408.87 35,771.50 48,869.75 15,715.39 80,110.85 174,292.47 2,665.73 157.40 30,522.08 $ 3,665,603.45 $ $ 70,500.95 $ 2,149,175.02 $ -462,628.07 $ 15,511.00 15,511.00 0.00 $ 3,681.68 $ 3,681.68 $ 70,500.95 $ -458,946.39 $ 0.00 707,455.06 471,785.69 0.00 -6,701.68 -7,614.82 $ 763,639.51 $ 12,839.30 s______o_.oo_ -26- EXHIBITP Page1 ELEMENTARY AND SECONDARY EDUCATION ACT CHAPTER 1 EDUCATION OF DEPRIVED MIGRANT CHILDREN PROGRAM STATE PROGRAM IMPROVEMENT CHAPTER2 BLOCK GRANT FLOW THROUGH TITLE 11- EISENHOWER MATHEMATICS FOREIGN AND SCIENCE LANGUAGES EDUCATION ASSISTANCE $ 1,959,621.04 $ 19,421.64 $ $ 1,959,621.04 $ _ _ _ _19__,4_2_1._64_ $ 18,603.08 $ 84,240.03 $ 18,242.00 $ 333.29 1s,603.oa $ _ _ _ _84__,2_40_._03_ $ _ _ _1.s.,_.24_2_.oo_ $ _ _ _333_.29_ $ 1,761,287.64 $ 63,400.23 90,767.70 1,457.35 145,979.08 3,998.04 6,213.75 68,090.56 800.00 70,567.73 $ 2,212,562.08 $ $ -252,941.04 $ 19,423.95 $ 19,423.95 $ -2.31 $ $ 252,940.70 _ _ _ _ _ _ $ _ _ _ _ _2_.3_1 $ _ _ _25_2_,_940_._ro_s _ _ _ _ _2._3_1 $ -0.34 $ 0.00 $ 0.34 0.00 10,713.55 $ 3,673.18 270.00 3,946.35 18,603.08 $ 0.00 $ $ $ 0.00 $ 0.00 84,368.19 $ $ 18,959.38 333.29 84,368.19 $ -128.16 $ 18,959.38 $ -717.38 $ ____ 128.16 $ 3..1.;..1;.5._ - - - - - - 128.16 $ 31.15 0.00 $ 0.00 -686.23 $ 686.n 333.29 0.00 0.00 0.00 $ 0.00 $ o.oo s _ _ _ _ _o._oo_ $ -27- 0.00 $ ----- 0.54 $ 0.00 CLARKE COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1995 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 Other Support Services Food Services Operation Capital Outlay Debt Service Principal Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES) Capital Leases Operating Transfers In Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1, 1994 Food Inventory - Net Change in Period Donated Commodities Purchased Food FUND BALANCE JUNE 30, 1995 See notes to the general purpose financial statements. INDMDUALS WITH DISABILITIES EDUCATION ACT TITLEVI, B FLOW PRESCHOOL THROUGH PROGRAM FAMILY CONNECTION FUND $ 324,056.84 $ $ 324,056.84 $ $ 63,617.25 100,000.00 63,617.25 $ 100,000.00 $ 119,337.37 $ 2,918.96 4,480.54 2,280.18 169.00 194,870.79 54,034.68 $ 9,615.04 3,297.43 214.44 100,138.71 424.08 4,304.00 $ 324,056.84 $ $ 0.00 $ 71,251.15 $ -7,633.90 $ 100,m.23 -m.23 $ 0.28 $ 0.28 $ 0.00 $ -7,633.62 $ -m.23 0.00 7,633.62 2,158.49 $ -28- 0.00 $ ----- 0.00 $ 1,381.26 EXHIBITP Page2 STATE PRESCHOOL HANDICAPPED PROGRAM DRUG-FREE SCHOOLS AND COMMUNITIES ACT STEWARTB. MCKINNEY HOMELESS ASSISTANCE ACT EDUCATION FOR HOMELESS CHILDREN AND YOUTH JOB TRAINING PARTNERSHIP ACT TOTAL $ 166,338.55 $ 71,447.00 $ $ 50,089.72 625.00 $ 2,194,597.00 72,650.89 5,254,169.87 4,113.46 942,795.27 $ 166,338.55 s _ _ _ _1_1_,44_7_.oo_ s _ _ _ _so.....,._ 089_.12_ s 77,389.35 $ 8,391,562.14 $ 166,338.55 $ $ 74,656.00 $ 166,338.55 $ $ 0.00 $ 74,656.00 $ -3,209.00 $ $ _ _ _1....._,805_._32_ $ _ _ _1.....8.. 05_._32_ $ 1,805.32 $ -1,805.32 -3,209.00 $ 3,209.00 $ o.oo s _ _ _ _ _ _o._oo_ s 11,930.42 $ 35,664.50 2,494.80 50,089.72 $ 0.00 $ 70,589.42 $ 3,415,525.24 683.25 1,635.71 249.63 698,522.77 143,077.04 224;866.22 188,963.90 52,867.79 15,715.39 80,279.85 181,025.85 276,3n.23 3,666,560.85 30,522.08 70,567.73 73,158.01 $ 9,044,866.94 4,231.34 $ -653,304.80 $ 252,940.70 5,648.90 $ 258,589.60 0.00 $ 0.00 4,231.34 $ -394,715.20 -414.23 1,190,709.42 -6,701.68 -7,614.82 0.00 $ -29- 3,817.11 $ 781,677.72 CLARKE CQUNJY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 1995 EXHIBIT "G Cash and Cash Equivalents Investments Accounts Receivable REGULAR GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECT PROJECT PROJECT 94-629-021 ~ 1 3 A 95/94S-629-013B TOTAL $ 41,062.81 $ 0.00 $ 1,626,873.25 $ 1,536.n4.69 s 3,204,710.75 865,060.25 865,060.25 1,730,120.50 2791435.67 2271555.06 5061990.73 TotalAueta $ 41,062,81 S 0.00 S s 2.n1 1369.17 L(AB(LmEs AND FUND EQUITY L(AB(LmEs Accounts Payable Contracts Payable Retainages Payable Total Liabilities FUND EQUITY Fund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity s 41.062.81 s s 411062.81 s Total Liabilities and Fund Equity S 41,062.81 S s 17,586.42 S 15,328.14 $ 32,914.56 403,808.83 389,734.37 793,543.20 2751131.03 2651890.83 5411021.86 s 6961526.28 s 6701953.34 $ 113671479.62 s 0.00 0.00 S 2,074,842.89 $ 0.00 s 210741842.89 1,958,436.66 $ 4,033,279.55 0.00 411062.81 119581436.66 $ 410741342.36 0.00 S s 2.n1 1369.17 See notes to the general purpose financial statements. -30- CLARKE COUNTY BOARD Of EDUCATION COMBINING STATEMENT Of REVENUES, EXPENDITURES AND Cl;:WiGES IN FUND BALANCES CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1995 EXHIBIT"H" REGULAR GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECT PROJECT PROJECT 94-629-021 ~ 1 3 A 95194S-629-0138 TOTAL REVENUES State Funds Local and Olher Funds $ $ 3,315.18 0.00 $ 2,837,984.60 $ 45,938.89 2,952,794.00 $ s,790,na.eo 45,938.89 95,192.96 TolalRevenues $ 3,315.18 $ 0.00 $ 2,883,923.49 $ 2,998,732.89 $ 5,885,971.56 EXPENDmJRES Capital Outlay Land and Land Improvements Building and Building Improvements $ 0.00 $ 163,194.60 $ 258,011.02 $ 421,205.62 $ 3,059.99 4,205,502.18 4.275.365.46 8,483,927.63 Tolal Expenditures $ 0.00 $ 3,059.99 $ 4,368,696.78 $ 4,533,376.48 $ 8.905.13325 Excess cl Revenues tNer (under) Expenditures QMR EJNANC!NG SOUR~S C.YESl Operating Transfers In Operating Transfers Out Tolal Olher Financing Sources (Uses) $ 3,315.18 $ -3.059.99 $ -1.484.773.29 $ -1.534.643.59 $ -3.019.161.69 $ $ -226.315.82 $ -226.315.82 $ 3,081,765.42 $ 3.081.765.42 $ 2,918,328.15 $ 6,000,093.57 -226.315.82 2.918.328.15 $ 5.n3,m.75 Excess cl Revenues and 0lher Financing Sources over (under) Expenditures and 0lher Financing Uses $ FUND BALANCE JULY l 1994 3,315.18 $ -229,375.81 $ 37,747.63 229,375.81 1,596,992.13 $ 4n850.76 1,383,684.56 $ 2,754,616.06 574,752.10 1,319,726.30 FUNQ BALANCE JUNE 30, 1995 $ 411062.81 $ 0.00 $ 2p74,842.89 $ 119581436.66 $ 410741342.36 See notes to the general purpose financial statements. - 31 - CLARKE COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE - AGENCY FUNDS YEAR ENDED JUNE 30, 1995 GROUP INSURANCE ASSETS Cash and Cash Equivalents BALANCE JULY 1, 1994 ADDITIONS DEDUCTIONS BALANCE JUNE 30, 1995 $ 1,286.87 $ 5,723.22 $ s,193.98 s _ _ _ _s_1_s_.1_1 LIABILITIES Funds Held for Others $ 1,286.87 $ 5,723.22 $ s,193.98 s _ _ _ _s_1_s._1_1 DEPENDENT CARE ASSISTANCE PROGRAM ASSETS Cash and Cash Equivalents $ 3,221.32 $ 78,457.00 $ 11,ss1.2S s _ _ _4_1_1_1._0_1 LIABILITIES Funds Held for Others $ 3,221.32 $ 78,457.00 $ 11.ss1.2S s _ _ _4_.1_1_1._01_ UNREIMBURSED MEDICAL EXPENSE PROGRAM ASSETS Cash and Cash Equivalents $ 11,987.82 $ 50,743.67 $ s1,699.02 s _ _ _1_1_03i,ii,iiii;2._41_ 1 LIABILITIES Funds Held for Others $ 11,987.82 $ 50,743.67 $ s1,699.02 s _ _ _1_1_,03_2_.4_1 TOTALS - AGENCY FUNDS ASSETS Cash and Cash Equivalents $ 16,496.01 $ 134,923.89 $ 135,454.25 s _ _ _1_s._965_.ss_ LIABILITIES Funds Held for Others $ - - - - - - 16 496.01 $ 134,923.89 $ 135,454.25 $ 15,965.65 See notes to the general purpose financial statements. -32- ~LARKE QQ!.!ND'. EIQ~RQ QF Et!!.!~IQN ~1:tEt!!.!I& QE EEl:!EB&. EIN~NQl~L ~lI~NQE YEAR Et!PEP J!,!NE 30, 1995 SCHEDULE "1" FUNDING AGENCY PRQGRAM/GRANJ Agriculture, U. s. Department ol Through City ol Athens Housing Authority Summer School Food Service Program for Children 1994 Grant 1995Grant Through Gegia Department of Education Food and Nutrition Program Child and Adult Care Food Program 1994 Contract 1995 Contract Food Services School Breakfast Program 1994Grant 1995Grant National School Lunch Program 1994 Grant 1995Grant Nutrition Education and Training Program 1995 Contract Food Distribution Program (1) Tolal U.S. Department ol Agriculture Education, U. S. Department ol Direct P. L. 81-874 1995Grant Through Georgia Department of Education Drug-Free Schools and Communities Act 1993Carry-Over 1994Grant 1994 Carry-Over 1995Grant Elementary and Secondary Education Act Chapter 1 Education ol Children in State Schools 1994 Regular 1994 Carry-Oyer 1995 Regular Education ol Deprived Children 1993 Carry-Over 1993 Carry-Over (New) 1994 Regular 1994 Carry-Over 1994Summer 1995 Regular 1995Summer State Program Improvement 1994 Regular 1995 Regular Chapter2 8loc:k Grant Flow Through 1991 Carry-Over 1994 Regular 1994 Carry-Over 1995 Regular Title II Eisenhower Mathematics and Science Education 1994 Regular 1995 Regular Foreign Language Assistance Program 1995 Regular CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS2 FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD 10.559 $ 10.559 94,836.06 $ 34,275.78 94,836.06 $ 94,836.06 $ 34,275.78 43,807.36 22,171.69 10.558 10.558 18,670.24 154.50 18,492.15 18,670.24 (2) 10.553 10.553 483,163.40 * 10.555 * 10.555 1,678,084.22 10.564 10.550 5,000.00 235,524.10 $ 2,549,553.80 $ 6,782.29 479,529.65 489,945.69 (2) 27,510.25 1,636,859.01 1,678,084.22 3,358,689.15 (3) 5,000.00 S,411.15 (3) N/A 235,524.10 235,524.10 2,264,163.91 $ 2,556,336.09 $ 3,665,603.45 84.041 $ 43,847.00 $ 84.186 84.186 84.186 84.186 3,208.00 71,448.00 43,847.00 $ 43,847,00 6,488.00 38,no.31 3,208.00 60,828.00 -3.209.00 3,208.00 $ 71,448.00 (6) 3,208.00 71,448.00 84.009 84.009 84.009 * 84.010 * 84.010 * 84.010 * 84.010 * 84.010 * 84.010 * 84.010 84.218 84.218 1,519.00 13,992.00 11,712.00 152,465.00 1,895,086.00 111,080.00 24,630.00 84.151 84.151 84.151 84.151 6,697.00 79,801.00 6,906.00 13,992.00 20,003.08 10,824.47 708,972.96 129,014.00 82,782.95 1,023,842.00 81,676.28 1,519.00 13,992.00 10,812.29 141,919.07 61,172.95 1,742,375.10 3,341.63 18,603.08 1,519.00 13,992.00 10,812.29 141,919.07 (5) 61,173.29 1,742,375.10 3,341.63 18,603.08 2,622.00 12,626.00 6,697.00 63,907.00 6,004.61 78,235.42 6,004.61 78,363.58 (3) 84.164 84.164 84.249 35,902.00 74,339.00 - 33 - 2,606.00 4,286.00 2,606.00 15,636.00 333.29 3,323.92 (3) 15,635.46 333.29 CLARKE COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE VEAR ENDED JUNE 30. 1995 SCHEDULE "1" FUNDING AGENCY PBQGRAMIGRANT CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS! FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD Education, U. S. Department d Through Georgia Department d Education Individuals with Disabilities Education Act. Title VI, B Flow Through 1994 Regular 1994 Carry-Over 1995 Regular Preschool Program 1993 Carry-Over 1994 Regular 1994 Carry-Over 1995 Regular Voc:ational Education Basic Grants to States High Sc:hool Program BasicGrant 1994Grant 1995Grant Community Based Organizations Vocational Educational Support Program 1994 Contract 1995 Contract Consumer and Homemaking Education 1995 Contract Tech-Prep Education 1994Grant 1995Grant st-rt B. McKinney Homeless Assistance Act. Education for Homeless Children and Youth 1993 Carry-Over 1994Grant 1994 Carry-Over Through HaH County Board d Education dlb/a Piedmont Migrant Education AIJency Elementary and Secondary Education Act. Chapter 1 Migratory Education Program 1995 Regular 84.027 84.027 $ 84.027 84.173 84.173 84.173 84.173 $ 63,643.00 468,198.00 s1,sn.00 62,300.00 84.048 84.048 84.174 84.174 84.049 84.243 84.243 84.196 84.196 84.196 133,558.40 14,907.19 16,869.50 28,789.91 1,350.00 54,700.00 84.011 19,421.64 330,902.00 54,520.00 $ 151,355.00 37,286.00 12,801.00 63,642.05 $ 260,414.79 -7,633.62 s1,sn.00 19,273.87 63,642.05 260,414.79 51,9n.00 19,274.15 (3) 81,345.24 4,555.41 10,422.12 3,289.36 37,963.08 1,280.19 1,349.09 17,497.00 36,323.51 -0.04 133,558.40 -2.00 14,907.19 16,869.50 28,789.91 1,349.09 48,740.63 (4) (4) (4) (4) 1,349.09 48,740.63 19 421.64 19,421.64 19,423.95 (3) Total U. S. Department d Education $ 3,441,440.64 $ 3,124,209.69 $ 2,863,152.85 $ 2,636,873.98 Human Resources, U. S. Department d Through Georgia Department d Human Resources Child Cara Block o-.lopment Grant No.427-93-51436 Extended Day Program 1985Grant Paach Program 1995Grant 93.037 $ 93.037 93.021 500.00 $ 34,991.47 33,637.74 500.00 $ 34,991.47 25,260.05 500.00 $ 34,991.47 33,637.74 500.00 34,991.47 33,637.74 Total U. S. Department d Human Resources $ 69,129.21 $ 60,751.52 $ 69,129.21 $ 69,129.21 Labor, U. S. Department d Through Northeast Georgia Regional Development Center Job Training Partnership Act. Summer CUiinary 1994 In-School 1994 Out-d-Sc:hool 1995 In-School Summer 1995 Culinary 17.250 $ 17.250 17.250 17.250 17.250 s 22,n4.90 50,000.00 20,864.00 22,n4.90 $ 21,408.00 13,228.00 2s.ns.ss 22,n4.90 $ 49,474.03 451.96 22,369.23 49,598.96 (3) 451.96 Total U. S. Department d Labor $ 93,588.90 $ 83,136.48 $ n,650.89 $ n,420.15 34 CLARKE COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE YEAR ENDED JUNE 30. 1995 SCHEDULE "1" FUNDING AGENCY PROGRAM/GRANT OTHER FEDERAL ASSISTANCE Defense, u. s. Department of Direct Department of the Amr/ R.O.T.C. Program 1995Grant CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD $ 78,763.86 $ 58,364.23 $ 78,763.86 (4) Total Federal Financial Assistance $ 6,232,476.41 $ 5,590,625.83 $ 5,640,032.90 $ 6,444,026.79 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 usigned value of nonmonetary asistance 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 Mpllrately and are included in the 1995 National School Lunch Program. (3) Expenditures for this program include State, and/or Local and other Funds. Expenditures are not maintained by fund source. (4) Expenditures on this program were not maintained by fund source. (5) Expenditures for this project does not include expenditures associated with the inception of a capital lease agreement In the amount of $252,940.70. (6) Funds earned on this program do not require reporting of expenditures. See notes to the general purpose financial statements. 35 CLARKE COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995 NONINTEREST BEARING ACCOUNTS Trust Company Bank of Northeast Georgia, N. A. Athens, Georgia INTEREST BEARING ACCOUNTS Trust Company Bank of Northeast Georgia, N. A. Athens, Georgia N. 0. W. Accounts (2.10%) OTHER Petty Cash SCHEDULE "2" $ 1,456.85 4,709,994.94 250.00 $ 4,711,701.79 See notes to the general purpose financial statements. - 36 - CLARKE COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30. 1995 INVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (6.032%) SCHEDULE "3" $ 5,086,507.15 ' See notes to the general purpose financial statements. - 37 - CLARKE COUNTY BOARD Of EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995 SCHEDULE 4 REGULAR ACCOUNTS GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND DEBT SERVICE FUND Athens Housing Authority Summer School Food Service Program for Children $ 34,275.78 $ Clarke County Tax Commissioner County Wide Bond Tax County Wide School Tax $ 222,637.02 $ 22,939.65 Education, Georgia Department of Food Services Child and Adult care Food Program School Breakfast Program National School Lunch Program Nutrition Education and Training Program Vocational Education Federal Funds other State Programs Alternative Programs Apprenticeship Program Family Connection Technology Equipment Project Lottery Programs Alternative Programs Distant Leaming Instructional Technology Model Technology Schools Federal Programs Drug-Free Schools and Communities Act ESEA - Chapter 1 Education of Children in State Schools Education of Deprived Children State Program Improvement ESEA - Chapter 2 Block Grant - Flow Through ESEA - Title II Eisenhower Mathematics and Science Education Foreign Language Assistance Program Individuals with Disabilities Education Act TltleVl,B Flow Through Preschool Program Stewart B. McKinney Homeless Assistance Act Education for Homeless Children and Youth Contracts Governor's School Leadership Institute School-Based Leadership Development Contract 185,000.04 68,237.14 69,150.80 4,000.00 178.09 10,416.04 41,225.21 5,000.00 135,000.00 16,130.67 82,382.00 15,453.15 2,849.60 81,728.20 10,620.00 1,519.00 749,8n.63 19,293.08 14,348.00 11,350.00 333.29 118,282.18 58,449.87 18,376.49 Georgia School-Age Care Association, Incorporated The 3:00 Project 1,000.00 TOTAL 34,275.78 22,939.65 222,637.02 178.09 10,416.04 41,225.21 5,000.00 185,000.04 135,000.00 68,237.14 16,130.67 69,150.80 82,382.00 15,453.15 2,849.60 81,728.20 10,620.00 1,519.00 749;8n.63 19,293.08 14,348.00 11,350.00 333.29 118,282.18 58,449.87 18,376.49 4,000.00 1,000.00 - 38 - CLARKE COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE30 1995 SCHEDULE 4 REGULAR ACCOUNTS Defense, U. s. Department of R.O.T.C. Program GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND $ 20,399.63 Georgia State Financing and Investment Commission Reimbursement on Construction Projects $ 498,381.45 Georgia State University Reimbursement for Expenses $ 506.00 Human Resources, Georgia Department of Peach Grant 8,3n.69 Northeast Georgia Regional Development Center Job Training Partnership Act 24,303.69 University of Georgia Reimbursement for Expenses 37,495.90 Various Sources Interest Earned Other 23,794.70 18,684.13 8,609.28 DEBT SERVICE FUND $ TOTAL 20,399.63 498,381.45 506.00 8,3n.69 24,303.69 37,495.90 32,403.98 18,684.13 $ 658,777.05 $ 1,451,897.97 $ 506,990.73 $ 22,939.65 $ 2,640,605.40 See notes to the general purpose financial statements. - 39 - PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 CLARKE COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY JUNE 30, 1995 TOTAL DEBT SERVICE TOTAL INTEREST TOTAL PRINCIPAL $ 598,379.75 $ 598,379.75 2,522,376.25 1,167,376.25 $ 1,355,000.00 2,530,026.25 1,105,026.25 1,425,000.00 2,525,893.75 1,035,893.75 1,490,000.00 2,525,426.25 960,426.25 1,565,000.00 2,523,652.50 878,652.50 1,645,000.00 2,525,191.25 790,191.25 1,735,000.00 2,524,455.00 694,455.00 1,830,000.00 2,526,712.50 591,712.50 1,935,000.00 2,527,335.25 482,335.25 2,045,000.00 2,568,202.50 368,202.50 2,200,000.oo 2,574,421.25 249,421.25 2,325,000.00 2,581,970.00 121,970.00 2,460,000.00 1,037,775.00 27,775.00 1,010,000.oo $ 32,091,817.50 $ 9,071,817.50 $ 23,020,000.00 (*) Principal and interest due July 1, 1995 was paid prior to June 30, 1995, and has been excluded from this schedule. CHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1994 Bonds Retired During Period TOTAL 1993 ISSUE $ 25,565,000.00 $ 19,890,000.00 2,545,000.00 1,755,000.00 Bonds Payable at June 30, 1995 $ 23,020,000.00 $ 18,135,000.00 MATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date JAN 1 -JUL 1 JUL 1 See notes to the general purpose financial statements. - 40 - SCHEDULE "5" 1993 ISSUE (*) INTEREST PRINCIPAL 1987 ISSUE (*) INTEREST PRINCIPAL $ 448,893.50 $ 149,48625 880,443.75 $ 925,000.00 286,932.50 $ 843,215.00 970,000.00 261,811.25 801,471.25 1,005,000.00 234,422.50 755,611.25 1,055,000.00 204,815.00 705,760.00 1, 100,000.oo 172,892.50 651,901.25 1,155,000.00 138,290.00 593,517.50 1,215,000.00 100,937.50 531,267.50 1,275,000.00 60,445.00 462,672.75 1,440,000.00 19,662.50 368,202.50 2,200,000.00 249,421.25 2,325,000.00 121,970.00 2,460,000.00 27,775.00 1,010,000.00 430,000.00 455,000.00 485,000.00 510,000.00 545,000.00 580,000.00 615,000.00 660,000.00 605,000.00 $ 7,442,122.50 $ 18,135,000.00 $ 1,629,695.00 $ 4,885,000.00 1987 ISSUE 1984 ISSUE $ 5,400,000.00 $ 275,000.00 515,000.00 275,000.00 $ 4,885,000.00 $ 0.00 JAN 1 - JUL 1 JUL 1 JAN 1 - JUL 1 JUL 1 - 41 - CLARKE COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 3Q 1995 SCHEDULE"6" AGENCY/FUNDING GRANTS AdministndiYa Services, Georgia Department ol Oilltant Learnlng/Telemedicine Project Education, Georgia Department ol Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff De\elopmant Programs Indirect Cost Pupil Transportation Regular Bus Replacement Limited English Speaking Middle School Incentive Special lnlllructional Assistance In-School Suspension School Counselors Grades 4 and 5 Mid-term Adjuslmenl Local Fair Share Educational Equalization Funding Grant Food Services VocalionalEducalion 00- State Programs Allemalive Programs Apprenticeship Program At-Risk Summer School Program Environmental Science Program Family Connection Governor's Emergency Funds (1) Innovative Programs Mentor Teac:t.- Program Preschool Handicapped Program Remedial Summer School Program Special Education Support Cost Teachers' Retirement Technology Equipment Project L.oae,yPrograms Algebra Claaarooms Allemalive School Program Dilltant Leaming lnalruclional Technology Media Center and Library Equipment Model Technology Schools Pre-Kindergarten Program Georgia Stale Financing and Investment Commission R ~ on Construction Projects Forestry Commission, Georgia Urban and Community Forestry Assistance Program CONTRACTS Education, Georgia Department ol Governor's School Leadership Institute Student Information Sy&lem Program 3 Year Leaderahip Development Program OTHER Georgia Public Telecommunications Commission GOVERNMENTAL FUND TYPES SPECIAL CAPITAL GENERAL REVENUE PROJECTS FUND FUND FUND TOTAL $ 3,120.54 $ 3,120.54 17,561,764.00 6,758,650.00 713,216.00 838,307.00 2&4,885.00 5,708,792.00 868,140.00 266,605.00 106,392.00 611,148.00 1,689,926.00 177,887.00 40,&n.oo 59,249.00 -7,108,953.00 392,504.00 $ 2,024.00 249,769.00 68,237.14 '44,965.56 1,500.00 2,000.00 4,980.00 19,320.00 17,067.37 71,220.00 74,671.83 69,150.80 180,000.00 100,000.00 166,338.55 -40.73 108,132.00 15,132.57 1,423.74 -9,955.33 81,nB.20 1,301,4'4'4.00 17,561,764.00 6,758,650.00 713,216.00 838,307.00 2&4,885.00 5,708,792.00 868,140.00 266,605.00 106,392.00 611,148.00 1,689,926.00 177,887.00 40,&n.oo 59,249.00 -7,108,953.00 392,504.00 249,769.00 2,024.00 180,000.00 68,237.14 44,965.56 1,500.00 100,000.00 2,000.00 4,980.00 19,320.00 166,338.55 17,067.37 71,220.00 74,671.83 69,150.80 -40.73 108,132.00 15,132.57 1,423.74 -9,955.33 a1.na.20 1,301,4'4'4.00 $ 5,790,778.60 5,790,778.60 1.~.60 1,094.60 4,000.00 7,000.00 10,000.00 625.00 4,000.00 7,000.00 10,000.00 625.00 (1) The purpoae ollhese funds ia for 1995 Georgia School ol Excellance. See notes lo the general pulJIOM financial statements. $ 29,369,535.84 $ 2.194,597.00 $ 5,790,778.60 $ 37,354,911.44 - 42 - CLARKE COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE YEAR ENDED JUNE 30, 1995 SCHEDULE'? GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND DEBT SERVICE FUND TOTAL Taxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Estate Transfer Tax $ 26,422,086.65 18,943.62 70,747.02 $ 2,733,127.49 $ 2,733,127.49 26,422,086.65 1,802.87 20,746.49 6,151.91 76,898.93 Other Community Services Contributions Contracts University of Georgia Donations Indirect Cost Special Revenue Fund Interest Earned Lost and Damaged Books Reimbursements for Salaries Various Sources Rents Sales Adult Meals Contracted Meals Lunches School Assets Supplemental Shared Service Contributions Barrow County Board of Education City of Commerce Board of Education City of Jefferson Board of Education Jackson County Board of Education Madison County Board of Education Morgan County Board of Education Northeast Georgia Regional Educational Service Agency Oconee County Board of Education Transcript Fees Tuition Vending Revenue Other 560,481.62 15,200.00 27,838.46 $ 711.50 40,003.07 698,713.12 12.23 4,113.46 29,596.33 $ 95,192.96 99,658.18 40,196.86 5,823.18 171,812.92 24,310.16 559,615.84 122,261.80 1,828.05 1,619.50 601.27 601.27 3,357.34 2,637.72 2,000.00 601.27 664.57 134,135.40 889.51 3,506.97 7,971.00 22,402.26 110,364.40 560,481.62 15,200.00 28,549.96 44,116.53 933,866.81 12.23 99,658.18 40,196.86 171,812.92 24,310.16 559,615.84 5,823.18 122,261.80 1,828.05 1,619.50 601.27 601.27 3,357.34 2,637.72 2,000.00 601.27 664.57 142,106.40 889.51 25,909.23 $ 28,152,146.88 $ 942,795.27 $ 95,192.96 $ 2,851,446.67 $ 32,041,581.78 See notes to the general purpose financial statements. - 43 - CLARKE COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 1995 SCHEDULE "8" GENERAL FUND SPECIAL REVENUE FUND TOTAL 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 Property Services Insurance Communications Shared Services other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs other Expenditures 36,291,367.47 $ 10,756,986.83 134,207.37 624,495.65 41,187.63 181,764.34 789,013.03 73,651.75 279,159.61 234,127.00 230,923.98 84,107.77 83,377.11 1,376,326.67 1,745,726.58 1,552.14 381,566.62 57,842.41 86,020.00 268,781.21 3,958,104.08 $ 1,241,581.69 66,912.17 165,388.06 12,417.70 3,600.00 83.00 10,382.05 199,174.79 127,165.45 643,812.77 32,560.75 1,589,357.69 32,124.77 10,024.00 41,638.78 33,882.85 40,249,471.55 11,998,568.52 201,119.54 789,883.71 41,187.63 181,764.34 801,430.73 77,251.75 279,159.61 234,210.00 241,306.03 283,282.56 210,542.56 2,020, 139.44 1,778,287.33 1,590,909.83 413,691.39 67,866.41 86,020.00 41,638.78 302,664.06 Nonoperating Costs Principal and Interest Land and Land Improvements Equipment 614,177.27 146,630.19 321,612.07 70,567.73 30,522.08 775,566.53 684,745.00 177,152.27 1,097,178.60 Total Expenditures $ 54,804,604.70 $ 9,044,866.94 $ 63,849,471.64 See notes to the general purpose financial statements. - 45 - CLARKE COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT LOTTERY PROGRAMS YEAR ENDED JUNE 30. 1995 EXPENDITURES Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Repair and Maintenance Services Communications Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Other Expenditures Nonoperating Costs Equipment ALGEBRA CLASSROOMS ALTERNATIVE SCHOOL PROGRAM (1) DISTANT LEARNING INSTRUCTIONAL TECHNOLOGY $ 141,635.08 22,128.51 1,216.44 12,051.97 $ 274.88 665.00 $ 7.10 60,969.99 25,582.82 $ 10,664.03 69.44 49,855.08 5,322.08 108,871.58 Total Expenditures $ (1) Includes expenditures funded with $180,000.00 of State - Alternative Program funds. 7.10 $ 288,201.39 $ 31,569.90 s _ _ _1_1e_.._535_.s_1 See notes to the general purpose financial statements. - 46 - SCHEDULE "9" MEDIA CENTER AND LIBRARY EQUIPMENT MODEL TECHNOLOGY SCHOOLS PRE-KINDERGARTEN PROGRAM SAFE SCHOOLS GRANT TOTAL $ $ 39,336.97 4,028.82 $ 25,510.20 169,100.35 56,218.00 $ 212,466.14 $ 81,728.20 $ 735,831.55 226,522.33 10,679.82 6,013.00 7,936.40 n,495.40 109,887.93 $ 25,911.50 157.40 16,808.40 4,145.00 17,701.23 59,420.30 $ 89,536.27 sn,466.63 248,650.84 11,896.26 57,401.94 665.00 8,211.28 n,495.40 326,187.16 25,911.50 157.40 16,808.40 4,145.00 11,no.s1 27,620.15 476,407.54 1,298,510.26 $ 117,156.42 $ 2,149,175.02 - 47 - ~ 1~1<_ p~ 4-~ CLARKE COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995 SCHEDULE "1 O" 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 Underexpenditure for Total Allotment THIRTEEN WEIGHTED AND MEDIA CENTER PROGRAMS 100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS $ 25,931,186.00 $ 791?83.00 $ 31,206,058.12 1,120,958.24 $ _ _ _9,;;.;5;;,.;1.r..;,4;..;.4,;;.;9.~96~ $ 32,327,016.36 -349,804.26 $ 31,977,212.10 $ 0.00 $ =======0=00== See notes to the general purpose financial statements. - 49 - CLARKE COUNTY BOARD OF EDUCATION ANALYSIS OF MINfMUM EXPENOOURE REQUIREMENTS - BY PROGRAM GENERAL FUND- QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1995 GENERAL !HP ~EER EDUCATION PROGRAMS n Kindergarten Grades 1 - 3 C, Sub-Total- K-3 Grades 4 - 5 C, Grades 6 - 8 C, Grades 11- 12 C, High School Laboratories C, Vocational Education Laboratories C, Total General and Career Education Programs S~C!&, EDUCATION PROGRAMS Regular Programs Category IC, Categoryll C, Category Ill(") Category IV C, Sub-Total - Regular Category V (Gifted) C, Total Special Education Programs R!;;MEQ!&. EDUCATION PROGMM 0 Total Thirteen Weighted Programs MEDIA CENTER PROGRAMS Salaries Operation& Total Madia Center Programs Total Thirteen Weighted and Madia Center Programs ALLOTMENTS FROM DEPARTMENT OF EDUCATION REQUIRED ORIGINAL 'II, ORIGINAL MID-TERM $ 1,998,n1.oo $ 1,798,899.30 $ 5,302,582.00 4,n2,323.80 $ 7,301,359.00 90 $ 6,571,223.10 $ 2,186,057.00 90 1,967,"51.30 3,523,028.00 110 3,170,725.20 2,656,956.00 110 2,3111,260.<10 916,892.00 90 825,202.80 lln,472.00 90 879,724.80 $ 17,561,7&4.00 $ 15,805,587.60 $ 59,249.00 0.00 59,2"9.00 0.00 0.00 0.00 0.00 0.00 59,249.00 $ 4,256,115.00 $ 3,830,503.50 $ 0.00 $ 4,256,115.00 2,502,535.00 $ 6,758,650.00 $ 713,216.00 $ 25,033,630.00 90 $ 3,830,503.50 $ 110 2,252,281.50 $ 6,082,785.00 $ 90 $ &41,89<1.