GA A800 ,Rl f,J..(p C,7 I qq 3 -qlj- STATE OF GEORGIA DEPARTMENT OF AUDITS 254 WASHINGTON STREET ATLANTA. GEORGIA 30334 AUDIT REPORT COLQUITT COUNTY BOARD OF EDUCATJON MOULTRIE, GEORGIA YEAR ENDED JUNE 30, 1994 COLQUITT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE EXHIBITS GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED STATEMENTS - OVERVIEW A COMBINED BALANCE SHEET ALL FUND TYPES 3 B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND 4 C COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ACTUAL AND BUDGET GOVERNMENTAL FUND TYPES 6 D COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES FIDUCIARY FUND TYPE- NONEXPENDABLE TRUST FUNDS 7 E COMBINED STATEMENT OF CASH FLOWS FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS 8 F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 9 ADDITIONAL FINANCIAL INFORMATION COMBINING STATEMENTS SPECIAL REVENUE FUND G COMBINING BALANCE SHEET 22 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 24 CAPITAL PROJECTS FUND I COMBINING BALANCE SHEET 26 J COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 28 FIDUCIARY FUND TYPES K COMBINING BALANCE SHEET 30 L COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES EXPENDABLE TRUST FUND 32 COLQUITT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION I FINANCIAL ADDITIONAL FINANCIAL INFORMATION SCHEDULES I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 34 2 ANALYSIS OF CASH AND CASH EQUIVALENTS 36 3 INVESTMENTS 37 4 ACCOUNTS RECEIVABLE 38 SCHEDULE OF REVENUE 5 STATE FUNDS 39 6 LOCAL AND OTHER FUNDS 40 SCHEDULE OF EXPENDITURES BY OBJECT 7 GOVERNMENTAL FUND TYPES 41 8 LOTTERY PROGRAMS 42 9 FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS 43 ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 10 OVERALL 45 11 BY PROGRAM 46 12 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS 48 SECTION II COMPLIANCE COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS COLQUITT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION III INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SECTION! FINANCIAL CLAUDE L. VICKERS STATE AUDITOR (404) 6562174 DEPARTMENT OF AUDITS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 August 2, 1995 Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation and Superintendent and Members ofthe Colquitt County Board ofEducation INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARYINFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Ladies and Gentlemen: We have audited the general purpose financial statements (Exhibits A through F) of the Colquitt County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility 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, 1994, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: 94ARL-13 * The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. * The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost ofrelated benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, from the Georgia Department ofEducation for the State's share 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, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. * The Board did not record the revenues and expenditures associated with Federal donated commodities in its general purpose financial statements. To conform to generally accepted accounting principles, these amounts should be recorded in the general purpose financial statements. The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. In our opinion, except for the effects ofsuch adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position ofthe Colquitt County Board of Education as of June 30, 1994, and the results ofits operations and the cash flows of its nonexpendable trust funds for the year then ended, in conformity with generally accepted accounting principles. Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Colquitt County Board ofEducation taken as a whole. The combining statements (Exhibits G through L) and the financial schedules (Schedules I through 12 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Colquitt 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 of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. 94ARL-13 A copy ofthis report has been filed as a pennanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code ofGeorgia Annotated Section 50-6-24. Respectfully submitted, ~~ Claude L. Vickers State Auditor CLV:gp 94ARL-13 COLOillTT COUNTY BOARD OF EDUCATION - 1- Q.21.~ITT Q~NTY ~ Q QE E:~JQATION QQMel~E;Q l;lB~CE HE:la &.LE!JNQ!l'.PE: JUNE'. 30 1994 EXHIBIT"A" ~ Cash and Cash Equivalents -Accounts-Food Donated Commodities Pun:haaed Food Total- GOVERNMENTAL FUND TYPES SPECIAL CAPITAL GENERAL REVENUE PROJECTS FUND FUND FUND FIDUCIARY FUND TYPE TRUST FUNDS TOTALS (Memorandum On!l} JUNE30 1994 JUNE30 1993 1,407,685.71 $ 791,n5.94 $ 24,141.44 $ 877,291.41 $ 3,500,844.50 $ 2,022,481.6 907,363.10 561,357.65 1,68,nD.75 2,602,905.65 623,889.1 32,798.01 1,950.78 350.76 950,988.69 698,065.19 35,648.78 20.906.23 35,648.78 20 906.23 53,601.66 21 338.55 $ 2938937.95 $ 1173 076.96 $ 987 449.87 $ 877642.17 $ 5 977106.95 $ 5398 392.71 LYIJIIG ~Q f:YNQ liQVITY ~ Cash Owtrdrall Accounts Payable SalariooPayable Ellpinld G - Balance& Payable eon,,_ Payable Oolred R.,...,. Total Liabilities f\JNQl;OUrTY Fund Balances R088Mld For Bus Replaoement Funds For Continuation of Federal Program For Endowment Corpus For Expired Grant Bala~ioned c.... For bwentories Food Oonaled Commodities -Pun:haaedFood For S- Capital Outlay Projects Undeaignaled Total Fund Equity 68,426.80 315,627.03 12,282.80 23 ~.92 630 692.55 5,560.5 96,918.70 96,918.70 $ 2~2zf!1925 2 938 937.95 $ 35,648.78 20,905.23 $ 393197.80 62,113.55 $ 393,197.80 $ 480~70.86 594J52.07 52 384.41 $ 987 449.87 $ $ 68,426.80 315,627.03 12,282.80 23 355.92 630 692.55 $ 305,"33.21 96,569.14 306,658.21 8,557.34 17,40000 736617918 $ 75,000.00 $ 5,560.5 75,000.00 96,918.70 23,680.37 75,000.00 25,050.2'4 35,648.78 20,906.23 393197.80 53,601.66 21,338.55 240~37.00 75,000.00 $ 627,230.05 $ 438,907.82 802 642.17 4 719184.35 4 222 666.91 877642.17 $ 5 346 414.40 $ 4661 774.73 Tolal Liabilities and Fund Equity $ 2 938 937.95 $ 1173 076.96 $ 987 449.87 $ 877,642.17 $ 5,977106.95 $ 5 398,392.71 The nole& to the general purpose financial statements are an integral part of this statement. -3- COLQUITT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30 1994 REVENUES State Funds Federal Funds Local and Other Funds Total Revenues EXPENDITURES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations Other Operations of Non-Instructional Services Capital Outlay Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES} Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1 Food Inventory - Net Change in Period Donated Commodities Purchased Food Residual Equity Transfer GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND $ 22,067,367.48 $ 54,912.75 7,143,486.29 703,082.61 3,766,332.46 584 596.58 $ $ 29 265 766.52 $ 5 054 011.65 $ 26,392.65 26 392.65 $ 18,812,952.45 $ 1,872,250.22 858,393.00 700,696.60 818,620.77 259,226.32 1,987,616.94 461,880.02 2,977,521.83 1,486,433.78 101,998.85 19,411.11 125,182.07 160,274.89 49,049.10 267,370.62 189,314.70 124.90 132,476.52 24,446.24 28.55 1,318.19 2,231,769.10 17,942.28 54 989.68 6,000.00 $ $ 28,664 923.42 $ 4,952,365.31 $ $ 600,843.10 $ 101 646.34 $ 214 859.70 214,859.70 -188467.05 $ $ -348, 127.60 $ -348, 127.60 $ 7.10 $ 348,120.50 7.10 $ 348,120.50 $ 252,715.50 $ 2,683,356.62 101,653.44 $ 461,984.00 159,653.45 827,796.42 2 865.83 -17,954.88 -432.32 -2 865.83 FUND BALANCE JUNE 30 $ 2,938,937.95 $ The notes to the general purpose financial statements are an integral part of this statement. -4- 542,384.41 $ 987,449.87 EXHIBIT"B" TOTAL FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS TOTALS (Memorandum On!l) YEAR ENDED JUNE 30 1994 JUNE 30 1993 $ 22,no.450.09 3,821,245.21 7 754 475.52 $ $ 34 346 170.82 $ $ 22,no,450.09 s 21,424,531.01 3,821,245.21 3,832,500.31 280 508.13 8 034 983.65 7 451,481.65 280 508.13 $ 34 626 678.95 $ 32 708 512.97 $ 20,685,202.67 1,018,667.89 749,745.70 1,085,991.39 448,541.02 $ 1,987,741.84 461,880.02 3,109,998.35 1,510,880.02 102,027.40 20,729.30 2,356,951.17 17,942.28 0.00 275 849.38 $ 33,832,148.43 $ $ 514,022.39 $ $ 20,685,202.67 $ 19,452,653.26 28.00 41,017.59 49,893.00 1,018,667.89 749,745.70 1,085,991.39 448,569.02 1,987,741.84 502,897.61 3,109,998.35 1,510,880.02 102,027.40 20,729.30 2,356,951.17 17,942.28 49,893.00 275 849.38 900,365.27 655,422.29 911,196.31 367,395.47 1,830,026.96 620,384.88 2,934,578.35 1,466,513.11 17,952.99 2,256,582.94 58,360.00 521 693.04 90 938.59 $ 33 923,087.02 $ 31,993,124.87 189 569.54 $ 703 591.93 $ 715 388.10 $ 348,127.60 -348, 127.60 $ 0.00 $ 348,127.60 $ 157,615.30 -348, 127.60 -157,615.30 $ 0.00 $ 0.00 $ 514,022.39 $ 3,973,137.04 189,569.54 $ 608,893.79 703,591.93 $ 4,582,030.83 715,388.10 3,874,659.53 -17,954.88 -432.32 0.00 -17,954.88 -432.32 0.00 -12,852.76 4,835.96 $ 4 468,n2.23 s 798,463.33 $ 5,267,235.56 $ 4,582 030.83 -5- ~LQYIIl ~Yr:!J:Y aQABQ OF EIJY~IIQt!I ~M~IN~Q !,TATl;MENT QF Bl;Yl;;NUE!, EXPl;N0ITUBES AND QHAN!al;S IN FUNQ BAbe,NCES e&I\Jt.L ANQ ~!il:!!aEI - !aQVEBNMENTt,L Fl1NQ TYPES VEAR ENQEQ JUNE :lQ 1994 EXHIBIT"C" ACTUAL PER EXHIBIT"B" ACTUAL PER ADJUSTMENTS BUDGET BASIS BUDGET VARIANCE FAVORABLE !UNFAVORABLE) .BfllE.Nl!E!, State Funds Federal Funds Local and other Funds $ 22,770,450.09 $ 3,821,245.21 7,754,475.52 0.00 $ 22,770,450.09 $ 24,975,878.00 $ 3,821,245.21 3,786,839.74 7,754,475.52 6,727,000.45 -2,205,427.91 34,405.47 1,027,475.07 Total R.,..,.,ues $ 34,346,170.82 $ 0.00 $ 34,346,170.82 $ 35,489,718.19 $ -1,143,547.37 l;JIPENQII!.!BE!> CUm!nt lnotruction Support Service6 Pupil Service6 Improvement of lnalructional Service6 Educational Media Services General Adminialralion School Adminialralion Business Admintatration Maintenance and Operation of Plant Student Transportation Service6 Central Suppo,t Service6 other Suppo,t Service6 Food Service6 ~ Community Service Operations Cpilal OUllay $ 20,685,202.67 $ 1,018,667.89 749,745.70 1,085,991.39 448,541.02 1,987,741.84 461,880.02 3,109,998.35 1,510,880.02 102,027.40 20,729.30 2,356,951.17 17,942.28 275,849.38 0.00 $ 20,685,202.67 $ 20,679,205.02 $ 1,018,667.89 749,745.70 1,085,991.39 448,541.02 1,987,741.84 461,880.02 3,109,998.35 1,510,880.02 102,027.40 20,729.30 2,356,951.17 17,942.28 275,849.38 1,028,435.98 650,014.26 919,604.85 382,928.18 1,926,335.54 560,640.30 3,032,825.85 1,532,537.37 88,155.93 22,265.00 2,413,998.54 22,056.00 3,517,155.00 -5,997.65 9,768.09 100,268.56 -166,386.54 "65,612.84 -61,406.30 98,760.28 -77,172.50 21,657.35 -13,87147 1,535 70 57,047 37 4,113n 3,241,305 6: Total Expenditures Excea of Reven,_...,,. (under) Expenditures $ 33,832,148.43 $ $ 514,022.39 $ 0.00 $ 33,832,148.43 $ 36,976,157.82 $ 0.00 $ 514,022.39 $ -1,486,439.63 $ 3,144,009 li 2,000,462 er QI!::!EB FINe,NQIN!;z !,Ql,!RQES (1,!SE!f!) Other Sources Other Uaes $ 348,127.60 $ -348,127.60 0.00 $ 348,127.60 $ 150,000.00 $ -348,127.60 -150,000.00 198,12790 -198,12760 Total Other Financing Sources (Uaes) $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 000 Exceu of Revenues and other Financing sources aver (under) Expenditures and Other Financing Uoes $ 514,022.39 $ 0.00 $ 514,022.39 $ -1,486,439.63 $ 2,000,462.02 EUHC ~~N~E JYLY l 1993 3,973,137.04 -74,940.21 3,898,196.63 3,600,703.07 297,493.76 AtlJ!J~TMENT~ Prior Vear (Net) 0.00 0.00 25,744.69 -25,744.69 FQQC l~HIQRY HEI ~l:!At!l~i; lt!I el;BIQ0 Donated Commodities -17,954.BB 17,954.BB 0.00 0.00 Pun:hued Food -432.32 432.32 0.00 0.00 FUNQ Ml ANQE JUNE 30 111!!!! $ 4,468,m.23 s -56,553.01 $ 4,412,219.22 $ 2,140,006.13 $ 2,272,211.09 The notes to the general purpose financial statements are an integral part of this statement. -6- COLQUITT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENSES AND CHANGES IN FUND BALANCES FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30 1994 EXHIBIT"D" ENDOWMENT FUNDS CLASS OF 1988 MCKEE ODOM SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP FUND FUND FUND TOTALS (Memorandum Only) YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 OPERATING REVENUES None Recorded $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 OPERATING EXPENSES Current Bank Service Charges Scholarships $ 4.00 $ 9.00 $ 15.00 $ 28.00 $ 58.00 230.00 972.84 2,100.00 3,302.84 5,870.21 Operating Expenses $ 234.00 $ 981.84 $ 2,115.00 $ 3,330.84 $ 5,928.21 Operating Income (Loss) $ -234.00 $ -981.84 $ -2,115.00 $ -3,330.84 $ -5,928.21 NONOPERATING REVENUES Interest Earned 215.41 701.20 1,849.17 2,765.78 3,232.70 Total Income (Loss) $ -18.59 $ -280.64 $ -265.83 $ -565.06 $ -2,695.51 FUND BALANCE JULY 1 6,319.42 20,624.29 52,800.19 79,743.90 82.439.41 FUND BALANCE JUNE 30 $ 6,300.83 $ 20,343.65 $ 52,534.36 $ 79,178.84 $ 79,743.90 The notes to the general purpose financial statements are an integral part of this statement. -7- CQLQUITT QO!JNTY !;!OARD QF EQ!JQATION QQMl;!INEQ !,TATEMENT QF QA!,H FLOWS EIQ!JQIARY FUNQ TYPE NONEXPl;NDABbE TRUST FUNDS YEAR ENDEQ JUNE 30 1994 EXHIBIT"E" Cash Flows from Operating Activities: Cash Paid for Scholarships Net Cash Provided (Used) by Operating Activities Cash Flows from Investing Activities: Interest Received on Investments Cash Paid for Bank Service Charges Net Cash Provided by Investment Activities Net Increase (Decrease) in Cash Cash and Cash Equivalents - July 1 ENDOWMENT FUNDS CLASS OF 1988 MCKEE ODOM SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP FUND FUND FUND TOTALS (Memorandum On!)'.) YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 $ -230.00 $ -972.84 $ -2,100.00 $ -3,302.84 $ -6,870.21 $ -230.00 $ -972.84 $ -2,100.00 $ -3,302.84 $ -6,870.21 $ 214.09 $ 696.77 $ 1,837.19 $ 2,748.05 $ 3,278.82 -4.00 -9.00 -15.00 -28.00 -68.00 $ 210.09 $ 687.77 $ 1,822.19 $ 2,720.05 $ 3,220.82 $ -19.91 $ -285.07 $ -277.81 $ -682.79 $ -2,649.39 $ 6,300.96 $ 20,562.20 $ 52,632.38 $ 79,495.54 $ 82,144.93 Cash and cash Equivalents - June 30 $ 6,281.05 $ 20,277.13 $ 52,354.57 $ 78,912.75 $ 79,495.54 Reconciliation of Operating Income to Net Cash PIOYided (Used) by Operating Activities: Operating Income (Loss) $ Net Cash PIOYided from Investing Activities -234.00 $ 4.00 -981.84 $ 9.00 -2,115.00 $ 15.00 -3,330.84 $ 28.00 -6,928.21 58.00 Net Cash Provided (Used) by Operating Activities $ -230.00 $ -972.84 $ -2,100.00 $ -3,302.84 $ -6,870.21 The notes to the general purpose financial statements are an integral part of this statement. -8- COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Colquitt County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in the following paragraphs, the financial statements ofthe Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. The more significant of the Board's accounting policies are described below. REPORTING ENTITY In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity of the Colquitt County Board ofEducation. Based upon the application ofthe above criteria, the Colquitt County Board of Education is determined to be the lowest level of government exercising oversight responsibility and control over alJ activities related to public education in Colquitt County, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification ofGovernmental 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 miJJage rate at which school taxes are levied and may incur bonded indebtedness with voter approval. FUND ACCOUNTING The Board uses funds 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. 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. - 9- COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds presented in this report are as follows: GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include: GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally provided by a board of education. SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. FIDUCIARY FUND TYPES - the trust and agency funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include: NONEXPENDABLETRUSTFUNDS Class of 1988 Scholarship Fund and McKee Scholarship Fund - the funds used to account for endowments ofwhich the corpus is to be invested and preserved intact with the resultant income to be used to provide scholarships to graduating seniors of the Colquitt County High School. - 10 - COLQUITT COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Odom Scholarship Fund - the fund used to account for an endowment of which the corpus is to be invested and preserved intact with the resultant income to be used to provide scholarships to graduating seniors of the Colquitt County High School and awards to be made to fifth graders at Jack Mack Odom Elementary School. EXPENDABLE TRUST FUNDS Goff Scholarship Fund, Millsap Scholarship Fund and Pippin Scholarship Fund - the funds used to account for scholarships to be made to graduating seniors of the Colquitt County High School. Unemployment Compensation Fund - the fund used to account for Unemployment Compensation contributions and expenditures. Workers' Compensation Fund - the fund used to account for Workers' Compensation contributions and expenditures. BASIS OF ACCOUNTING The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust 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. All nonexpendable trust funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation of these funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. Governmental funds and expendable trust funds are accounted for using the modified accrual basis of accounting under which: - 11 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount 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, local option sales 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 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion ofthe compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by nonexpendable trust funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. BUDGET The Colquitt County Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. - 12 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note l: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, donated and purchased food inventories as reflected on Exhibit "B" have been eliminated from fund balance. CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including certificates of deposit, savings and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement 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 ofGeorgia 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 ofany corporation ofthe United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the Office of Treasury and Fiscal Services, (7) Repurchase agreements, and (8) Obligations of other political subdivisions of the State of Georgia. - 13 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES RECEIVABLES Receivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. PROPERTY TAXES The Colquitt County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on October 8, 1993 (levy date). Taxes were due on December 20, 1993. The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria of GASB codification section P70.103. The Colquitt County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board. The tax millage rate levied for the 1993 tax year (calendar year) for the Colquitt County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): School Operations .8...ll mills INVENTORIES FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. The Board uses the purchases method to account for inventories of purchased foods whereby expenditures are recorded at the time of purchase. Both the donated food commodities inventory and the purchased foods inventory reported on the balance sheet are equally offset by reservations of fund balance which indicates that they do not constitute "available spendable resources" even though they are a component of net current assets. The Federally assigned value of donated commodity items received and consumed has not been reflected as revenues and expenditures in the general purpose financial statements. To conform to generally accepted accounting principles, these amounts should be recorded in the general purpose financial statements. COMPENSATED ABSENCES Compensated absences represent obligations of the Board relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been - 14 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial to the general purpose financial statements. Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded in the General Long-Term Debt Account Group as this liability is also deemed to be immaterial to the fair presentation ofthese financial statements. INTERFUND TRANSACTIONS The Board has the following types ofinterfund transactions: Reimbunements ofexpenditures/expenses initially made from a fund that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. Residual equity transfers are recorded for nonrecurring or nonroutine permanent transfers of equity. Operating transfers are recorded for all interfund transactions other than residual equity transfers and reimbursements. MEMORANDUM ONLY -TOTAL COLUMNS Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation 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, orby collateral in an amount of not less than 110 percent of the public funds being secured after the deduction ofthe amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. Acceptable security for deposits consists of any one of or any combination of the following: (I) Surety bond signed by a surety company duly qualified and authorized to transact business within the State ofGeorgia, - 15 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS AND INVESTMENTS (2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, (3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia, (4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities 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 (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 Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. CATEGORIZATION OF DEPOSITS At June 30, 1994, the bank balances were $6,669,709.65. The amounts of the total bank balances are classified into three categories of credit risk: Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) The Board's deposits are classified by risk category at June 30, 1994, as follows: Risk Category Bank Balance 1 $ 510,405.48 2 4,766,420.60 3 1 392 883.57 Total $ 6 669 709 65 - 16 - COLQUITT COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS AND INVESTMENTS At June 30, 1994, the carrying amount of the Board's total investments was $1,468,720.75 and consisted entirely offunds in the Local Government Investment Pool administered by the Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. Note 3: NON-MONETARY TRANSACTIONS The Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. See Note 1 - Inventories Note 4: RISK MANAGEMENT The Board has established a limited risk management program for Workers' Compensation. Estimated claims are budgeted by management based on known claims and prior experience. Each fund contributes their pro rata share to the Workers' Compensation fund and claims are paid from this fund during the fiscal year. During fiscal year 1994, a total of $22,014.87 was paid in claims. An excess coverage insurance policy covers individual claims in excess of$1,000,000.00. The Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. Each fund contributes their pro rata share to the Unemployment Compensation fund and claims are paid from this fund during the fiscal year. During fiscal year 1994, a total of$9, 122.00 was paid in claims. Note 5: SIGNIFICANT COMMITMENTS At June 30, 1994, the Board had encumbrances in the amount of$291,375.33 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with Lottery Programs. Lottery funds in the amount of $286,855.92 are available to fund these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year because these commitments will be honored during the subsequent fiscal year. These encumbrances are identified by Lottery Program as follows: Algebra Classrooms Computers in Classrooms Distant Learning Media Center and Library Equipment Safe Schools Grant $ 458.62 150,062.40 14,357.64 28,719.18 97 777.49 $ 291 375 33 - 17 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 5: SIGNIFICANT COMMITMENTS The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1994: Project Unearned Executed Contracts Hamilton Elementary Additions $ 45 884 00 The amounts described are this note are not reflected in the general purpose financial statements. Note 6: CONTINGENT LIABILITIES Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the general purpose financial statements. Note 7: ACCUMULATED EMPLOYEES' LEAVE Twelve month employees ofthe Board earn two weeks annual leave. Eleven month employees ofthe Board earn one week of annual leave. Maximum accumulation allowed is four weeks. Upon retirement or termination employees are paid for unused annual leave up to the maximum accumulation allowed at their current rate of pay. Note 8: RETIREMENT PLANS TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS). TRS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for service retirement after 30 years ofcreditable service, regardless of age, or after IO years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the - 18 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 8: RETIREMENT PLANS average of the member's two consecutive highest paid years of service multiplied by the number ofyears of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of IO years of service) and compensation up to the time of disability or death. Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest. The Board's payroll for employees covered by TRS for the year ended June 30, 1994, was $19,060,251.46; total payroll was $21,963,529.26. TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate ofreturn on investments) was 7.50%. Total contributions made during fiscal year 1994 amounted to $3,394,634.05, of which $2,251,015.69 was made by the Board and $1,143,618.36 was made by employees. These contributions represented 11.81% (Board) and 6% (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 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, 1993, was as follows: - 19 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 8: RETIREMENT PLANS Total pension benefit obligation $13,912,014,000.00 Net assets available for benefits, at cost 12 821 722 000.00 Unfunded pension benefit obligation $ I 090 292 000 00 The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30,- 1993. 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, 1994 were $521,550,000.00. The Board's contribution for the year ended June 30, 1994 of$2,251,015.69 was actuarially determined and represented .4316% of total contributions made by all participating employers. Ten year historical trend information is presented in the 1994 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State ofGeorgia. PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years ofservice and attainment ofage 65. A member applying for service retirement with 10 years of service and retires between the ages of60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund 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 of what the employee would have received upon retirement. Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. There were 239 employees covered under PSERS for the year ended June 30, 1994. - 20 - COLQUITT COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 8: RETIREMENT PLANS PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $8,212.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. Note 9: SURETY BONDS Mr. Billy Mock, School Superintendent through January 24, 1994, was bonded in the amount of$50,000.00 with the United States Fidelity and Guaranty Company, Baltimore, Maryland, their Bond No. 02017010150890. The School Superintendent, Mr. William Yearta, effective January 31, 1994, is bonded in the amount of $100,000.00 with the State Automobile Mutual Insurance Company, Columbus, Ohio, their Bond No. 0045008, on which premium was paid through December 31, 1994. - 21 - COLQUITT COUNTY ROARP OF EDUCATION CQMBININ~ RAIANCE SHEET SPECIAL RfYENUE FLINQ JlJNf@ 1994 Cash and Cash Equivalents , _ Accounts R-.able Food DonNd Commod- Pun:hased Food Tolal - ELEMENTARY AND SECONDARY SCHOOL FOOD SERVICES _____f!!!:!Q_ LOTTERY PROGRAMS DRUG-FREE SCHOOLS AND COMMUNmEs Ac:T EDUCATION OF CHILDREN IN STATE SCHOOLS CHAPTER 1 EDUCATION OF DEPRIVED CHILDREN MIGRANT ~ 614,694.82 $ 222,716.25 $ 0.00 $ 1,059.06 4,539.37 17,630.70 12,123.22 104.10 $ 190,988.67 25,819.97 35,646.78 - - - - 20,906.23 $ 689,078.53 $ 234,839.47 $ 0.00 $ 1,163.18$ 190,988.67 $ ~ LIABIUTil;S ANP FUNP eoYITY - -~ Cash Owenlraft Sala-Payable Expired Grant llalancos Payable Dolemld Revenue Total Liabilities FUNPl=OlJITY Fund Baklnces Reserved For Continuation of Federal Program For Inventories Food Donated Commoditte& -Pun:hased Food Unde&ignated Total Fund Equity 27,530.03 124,724.63 $ 483.55 234,355.92 152,25,4.66 $ 234,839.47 141.00 1,022.18 33,719.27 27,814.32 $ 129,455.06 2,667.76 17,728.71 9,962.87 1,163.18 $ 190,988.67 $ 30,359.34 35,646.78 20,906.23 56,553.01 S0,210.ss $ ~ s _ ____,o"".00"-s _ _ ____,o,,,.00""s _ _ _o_.00_ s _ _~o.~00_ $ 536,823.87 $ ~ $ _ ____,o"".00"-s _ _ ____,o"'.00=$--___,o"".00"-$---o"'.00= Total Uabilities and Fund EquHy 190,988.67 $ ~ See notes to the general purpose financial &tatements. -22- EXHIBIT"G" EDUCATION ACT CHAPTER2 BLOCK GRANT FLOW THROUGH MLEIIEISENHOWER MATHEMATICS AND SCIENCE EDUCATION INDIVIDUALS WITH DISABILITIES EDUCATION ACT mLEVl,B FLOW PRESCHOOL THROUGH PROGRAM JOB TRAINING PARTNERSHIP ACT o.oo $ 5,560.5" $ 1,183.40 31,523.29 $ 23,252D1 $ 23,156D5 BANQUET FUND TOTALS JUNE 30, 1994 JUNE 30, 1993 0.00 $ 849,753.46 $ 487,971.50 324,798.01 278,826.37 ---- 35,646.78 20,906.23 53,601.66 21,338.55 0.00 $ 5,560.5" $ 32,706.69 $ 23,252.01 $ 23,156.05 $-----2;22.$ 1,231,104.48 $ 841,738.08 $ 6,5"8.37 24,321.!M 1,836.38 s.-.s1 $ 3,260.22 13,647.12 17,963.58 465.10 .n1.31 32,706.69 $ 23,252.01 $ 23,156.05 58,027.52 68,426.80 $ 315,627.03 12,282.80 234,355.92 688,720.07 $ 64,538.45 306,658.29 8,557.34 379,75".08 5,560.5" 0.00 0.00 $ 5,560.5" 0.00 $ 5,560.5" $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 5,560.5" 0.00 $ _.Q,!JQ_ 0.00 $ _.Q,!JQ_$ 35,646.78 $ 20,906.23 62,113.55 $ 480,270.86 5"2,384.41 $ 53,601.66 21,338.55 74,940.21 387,043.79 461,984.00 0.00 $ 5,560.5" $ 32,706.69 $ 23,252.01 $ 23,156.05 $--1:22,$ 1,231,104.48 $ 841,738.08 -23- COLQUITT COUNTY BQARP OF fQUCATION et;lMBINING STATEMENT OF REVENUES EXPENDITURES ANP CHANGES IN FUNQ BA.LANCES SPEClAL RVl=NUE FUNO ve;AR ENQEP JUNE 30 1994 ~ state Funds Federal Funds Local and Other Funds Total R8Y91lues FXPl;NQITUfUiS I -Curn,nt Inst-Ion Support Services Pupil Services ol lnstruclional Services Educational Media Services General Administration School Administration Maintenance and Operation of Ptant Student Transportation Services ---1 Central SupportServices Other Support Services Food Services 0peqtion Community Service Openttlons Other Operations"' Services Capital Outlay Total Expenditures Excess ol Re,enues over (undef) Expendlt"""' OTHER FINANCING SOURCES Operallng Tranaters In Excess of Revenues and Other Financing Sources over (under) "-'1dltures RJNP RAL.ANCE JULY 1 Food Inventory Nel Chaf198 in Period Donated Commodilie& Purcha&edFood Residual Equity Transfer SCHOOL FOOD SERVICES FUND ELEMENTARY ANO SECONDARY LOTTERY PROGRAMS DRUG-FREE SCHOOLS ANO CCJMUNITIES ACT EDUCATION OF CHILDREN IN STATE SCHOOLS CHAPTER1 EDUCATION OF OEPRN'ED CHILDREN MIGRANT PROGRAM 163,470.00 $ 1,579,795.42 584,596.58 539,612.61 $ 2,327,882.00 $ 539,612.61 $ 2,268.67 $ 2,268.67 $ 8,326.55 $ 8,326.55 $ 1,493,000.67 $ 131,704.88 ---- 1,493,000.67 $ 131,704.88 262,230.65 41,510.74 $ 12,749.20 200,077.44 2,268.67 16,031.04 $ 2,231,769.10 1,013.54 8,326.55 $ 1,244,212.11 $ 118,024-70 8,245.80 5,684.08 119,024.48 115,521.00 28.55 304.65 92441 12,75510 6,000.00 2,231,769.10 $ 539,612.61 $ 96,092.90 $ 0.00 $ 2,268.67 $ _ __,8"".32"'6~.55=$ 1,493,000.67 $ 131,704 88 0.00 $ 0.00 $ 0.00 $ 0.00 96,092.90 $ 459,118.17 -17,954.88 -<432.32 0.00 $ 0.00 0.00 $ 0.00 0.00 $ 0.00 0.00 $ 0.00 0.00 0.00 FUND BALANCE JUNE 30 536823.87 s--2:22.s _____o_.oo_s _ _ _ _o..,.oo..,s _ _ _ _o_.00_$--2:!!2, See note& to the general purpose financial statements. -24- EXHIBIT "H" EDUCATION ACT CHAPTER2 BLOCK GRANT FLOW THROUGH TITLE 11EISENHOWER MATHEMATICS AND SCIENCE EDUCATION INDIVIDUALS WITH DISABILmES EDUCATION ACT mLEVl,B FLOW PRESCHOOL THROUGH PROGRAM JOB TRAINING PARTNERSHIP ACT BANQUET FUND TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 67,452.00 $ 67,-152.00 $ 25,414.83$ 270,3,46.0 $ 25,414.83 $ 270,346.0 $ 91,000.18 $ 91,000.18 $ 0.00 $ 97,022.86 ---- 703,082.61 $ 3,766,332.~ 584,596.58 223,109.00 3,705,123.09 686,438.38 97,022.86 $ _..QEQ.$ 5,054,011.65 $ 4,614,670.47 67,293.18 158.82 67,-152.00 $ 0.00 $ 19,7&4.93 811.36 s 73,379.n 99,810.96 10,850.89 56,679.11 75,688.79 $ 1,928.46 13,382.93 11,690.54 17,942.28 19,85429 $ 270,353.50 $ 5,560.54 $ -7.10 $ 91,000.18 $ 0.00 $ 90,387.70 $ s 0.00 $ 1,sn,2so.22 1,s12,n1.1s 6,510.26 124.90 160,274.89 '49,049.10 267,370.62 189,31'4.70 124.90 132,476.52 24,446.24 28.55 1,318.19 2.231,769.10 17,942.28 134,550.68 44,896.63 71,&41.62 175,871.19 899.17 664.53 22,660.27 4,320.99 2,202,929.95 ---- 6,000.00 12,354.01 97,022.86 $_..QEQ.$ 4,952,365.31 $ 4,483,710.20 0.00 $ 0.00 $ 101,646.34 $ 130,960.27 0.00 $ 0.00 5,560.54 $ 0.00 7.10 0.00 $ 0.00 0.00 $ 0.00 7.10 2,615.30 0.00 $ 0.00 0.00 $ 101,653.44 $ 133,575.57 2,865.83 461,984.00 336,425.23 -2,865.83 -17,954.88 -432.32 -2,865.83 -12,852.76 4,835.96 0,00 $ 5560.54 $ 0.00 $ 0.00 $ 0,00 $ ~ $ 542,384.41 $ 461984.00 -25- COLQUITT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30 1994 Cash and Cash Equivalents Investments Accounts Receivable REGULAR PROJECT A85-635-065 GEORGIA PROJECT 92/925-635-024 $ 30,943.64 $ 0.00 $ 77,785.50 561,357.65 1,950.78 Total Assets $ 594,252.07 $ o.oo $==1.,.1..,.1.,.s,.,5..5.,..o LIABILITIES AND FUND EQUITY LIABILITIES Accounts Payable Contracts Payable Total Liabilities FUND EQUITY Fund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity $ s s_ _ _ 594,252.01 .;;.;o.""oo"- 77,785.50 0.00 $ 594,252.07 $ 0.00 $ _ _-'-77'-',7'-"8'-=5-"'.5cc...0 $ 594,252.07 $ 0.00 $===77.,,,7.,.8=5=.5=0 See notes to the general purpose financial statements. -26- EXHIBIT"!" STATE FINANCING AND INVESTMENT COMMISSION PROJECT PROJECT PROJECT 93/94-635-024 94-635-025 94/94S-635-016 PROJECT 94/94S-635-017 TOTALS JUNE 30, 1994 JUNE 30, 1993 $ 13,289.15 $ 149,201.15 $ 76,670.00 $ 76,252.00 $ 424,141.44 $ 846,190.58 561,357.65 1,950.78 1,505.84 $ 13,289.15 $ 149,201.15 $ 76 670.00 $ 76,252.00 $ 987,449.87 $ 847,696.42 $ 2,500.00 17,400.00 $ _ _1~9~,9_0_0.~00~ $ 13,289.15 $ 149,201.15 $ 0.00 0.00 $ 13,289.15 $ 149,201.15 $ 76,670.00 $ 0.00 76,670.00 $ 76,252.00 $ 0.00 76,252.00 $ 393,197.80 $ 594,252.07 987,449.87 $ 240,237.00 587,559.42 827,796.42 $ 13,289.15 $ 149201.15 $ 76,670.00 $ 76,252.00 $ 987 449.87 $ 847,696.42 -27 - COLQUITT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES CAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1994 REVENUES State Funds Local and Other Funds Total Revenues EXPENDITURES Capital Outlay Land and Land Improvements Building and Building Improvements Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES) Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1 REGULAR PROJECT A8!Hl35-065 GEORGIA PROJECT 92/92S-635-024 $ $ 26,392.65 $ 26,392.65 $ 0.00 $ 0.00 0.00 $ _ _ _ _..:0.:.:.0c:..0 $ 48,075.00 $ $ 48,075.00 $ $ -21 ,682.35 $ 605.00 $ 605.00 $ -605.00 $ 1,493.50 1,493.50 -1,493.50 $ 239,759.00 -211,384.00 $ 28,375.00 $ 6,692.65 $ 587,559.42 $ $ -605.00 $ 605.00 31,875.00 31,875.00 30,381.50 47,404.00 FUND BALANCE JUNE 30 $ 594,252.07 $ 0.00 $ 77 785.50 See notes to the general purpose financial statements. -28- EXHIBIT"J" STATE FINANCING AND INVESTMENT COMMISSION PROJECT PROJECT PROJECT PROJECT 93/94-635-024 94-635-025 94/94S-635-016 94/94S-635-017 TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 $ 0.00 $ 0.00 $ $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 26,392.65 26,392.65 $ 67,865.00 25,230.43 93,095.43 $ 4,234.85 $ 52,089.85 $ 108,361 .50 $ $ 4,234.85 $ 52,089.85 $ 108,361.50 $ $ -4,234.85 $ -52,089.85 $ -108,361.50 $ 0.00 $ 0.00 $ 0.00 $ $ 214,859.70 214,859.70 $ -188,467.05 $ 193,000.00 129,190.00 322,190.00 -229,094.57 $ 4,630.00 $ 21,957.00 $ 185,031.50 $ 76,252.00 $ 559,504.50 $ 155,000.00 -211,384.00 $ 4,630.00 $ 21,957.00 $ 185,031.50 $ 76,252.00 $ 348,120.50 $ 155,000.00 $ 395.15 $ -30,132.85 $ 12,894.00 179,334.00 76,670.00 $ 0.00 76,252.00 $ 0.00 159,653.45 $ 827,796.42 -74,094.57 901,890.99 $ 13,289.15 $ 149,201.15 $ 76,670.00 $ 76,252.00 $ 987,449.87 $ 827,796.42 -29- ASSETS cash and cash Equivalents Ac:c:cuu Receivable Total Assets fUNQEOUITY Fund Balances Reserved For Endowment COIJ)US Unreserved Undesignated Total Fund Equity COLOIJITT COt INTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYpfs JUNf 30 1994 NONEXPENDABLE TRUST FUNDS CLASS OF 1988 MCKEE ODOM SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP FUND FUND FUND $ 6,281.05 $ 20,277.13 $ 52,354.57 19.78 66.52 179.79 $ 6300.83 $ 20343.65 $ 52534.36 $ 6,000.00 $ 19,000.00 $ 50,000.00 300.83 1343.65 2534.36 6300.83 $ 20343.65 $ 52534.36 See noles to the general purpose financial statements. -30- EXHIBIT"K" GOFF SCHOLARSHIP FUND EXPENDABLE TRUST FUNDS SELF-INSURED EMPLOYEE BENEFIT FUNDS MILLSAP PIPPIN UNEMPLOYMENT WORKERS' SCHOLARSHIP SCHOLARSHIP COMPENSATION COMPENSATION FUND FUND FUND FUND TOTALS JUNE 30, 1994 JUNE30 1993 $ 13,693.93 $ 1,141.48 $ 13,411.49 $ 82,739.38 $ 687,392.38 $ 877,291.41 $ 688,319.38 41.99 42.68 350.76 318.31 $ 13735.92 $ 1141.48 $ 13454.17 $ 82739.38 $ 687 392.38 $ 877642.17 $ 688 637.69 13 735.92 $ _ _ _1~1~4~1-~48~ $ 13454.17 $ 82739.38 $ 687392.38 75,000.00 $ 75,000.00 802642.17 613637.69 13 735.92 $ _ _ _1_1_4_1._,48_ $ 13454.17 $ 82739.38 $ 687392.38 $ 877642.17 $ 688637.69 -31- COLQUITT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30 1994 REVENUES Local and Other Funds EXPENDITURES Current Support Services General Administration Business Administration Other Operations of Non-Instructional Services Total Expenditures Excess of Revenues over (under) Expenditures FUND BALANCE JULY 1 FUND BALANCE JUNE 30 GOFF SCHOLARSHIP FUND MILLSAP SCHOLARSHIP FUND PIPPIN SCHOLARSHIP FUND $ 1,474.79 $ 1,031.78 $ 458.02 $ 14.00 $ 1,000.00 $ 1,014.00 $ $ 460.79 $ 13,275.13 14.00 $ 1,000.00 1,014.00 $ 17.78 $ 1,123.70 0.00 0.00 458.02 12,996.15 $ 13,735.92 $ 1141.48 $ 13,454.17 See notes to the general purpose financial statements. -32- EXHIBIT"L" SELF-INSURED EMPLOYEE BENEFIT FUNDS UNEMPLOYMENT WORKERS' COMPENSATION COMPENSATION FUND FUND TOTALS YEAR ENDED JUNE 30, 1994 JUNE 30, 1993 $ 1,887.91 $ 275,655.63 $ 280,508.13 $ 242,613.97 $ 28.00 $ 2,414.00 $ 41,017.59 41,017.59 38,994.22 $ 9,122.00 38,771.00 49,893.00 46,005.99 $ 9,122.00 $ 79,788.59 $ 90,938.59 $ 87,414.21 $ -7,234.09 $ 195,867.04 $ 189,569.54 $ 155,199.76 89,973.47 491,525.34 608,893.79 453,694.03 $ 82,739.38 $ 687,392.38 $ 798,463.33 $ 608 893.79 -33- @LQUITT@UNTY l!QARD OF fD!.!!:,!,TION ~Hf!l!.!Lf QF FEQERAI Fl!!!ANCl!!,L ~SlfilAN!.la YEAR FNQEQ JUNE 30 1994 SCHEDULE 1 FUNDING AGENCY PRQGRAM/GR!!,NT Agriculture, U.S. Department of Direct Summer Food Serviceo Program for Children 1993 Grant 1994 Grant Through Georgia Department of Education Food and Nutrition Program Brea- FoodServiceo School Program 1993Grant 1994Grant National School Lunch Program 1993Grant 1994Grant Food Dialribution Program Total U.S. Department of Agriculture Education, U. S. Department of Through Georgia Department of Education Elementary and Secondary Education Ad Chapter 1 Education of Children in State Schools 1993 Reguiar 1993 Carry.0-1994 Reguiar Education of llepriwd Children 1992 Carry.o-1993 Reguiar 1993 Carry-0wr 1994 Reguiar Chapter2 Block Grant Flow Through 1994 Regular Tdlell Eieenhower Mathematics and Science Education 1993 Regular 1994Regular Individuals with Disabiltties Education Ad TdleVI, B Flow Through 1993 Regular 1993 carry.o-1994 Regular Preschool Program 1993 Regular 1993 carry-Over 1994Regular Vocational Education Basic Grants to States High School Program Basic Grant 1993Grant 1994Grant consumer and Homemaking Education 1994 Contract Tech-Prep Education 1993Grant 1994Granl CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OFREFUNDSl FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD 10.559 $ 10.559 78.00 $ 95,274.32 66,911.00 $ 27,703.00 55,462.17 $ 33,278.52 52,239.18 (3) 33,356.52 (3) 10.553 10.553 335,018.04 10.555 10.555 10.550 1, 156,036.69 161 028.30 $ 1 747 435.35 $ 25,527.21 335,018.04 335,018.04 (2) 10,119.93 1,143,781.51 N/A 1, 156,036.69 !11 1 609 060.69 $ 1579795.42 $ 2,146,173.40 (3) !11 2231769.10 84.009 84.009 $ 84.009 $ 744.00 15,930.00 84.010 84.010 84.010 84.010 1,575.00 196,288.00 1,413,644.00 1,290.12 744.00 $ 7,478.45 744.00 $ 7,582.55 744.00 7,582.55 1,575.00 149,754.70 196,288.00 1,104,149.00 1,575.00 196,288.00 1,295,137.67 1,575.00 196,288.00 1,295,137.67 84.151 67,452.00 67,452.00 67,452.00 67,452.00 84.164 84.164 35,160.00 2,685.84 24,000.00 1,414.83 24,000.00 1,414.83 18,439.46 84.027 84.027 84.027 84.173 84.173 84.173 49,033.00 251,020.00 29,456.00 71,577.00 35,782.95 49,033.00 191,626.49 12,973.31 29,456.00 38,292.17 49,033.00 221,313.40 29,456.00 61,544.18 49,040.10 (3) 221,313.40 29,456.00 61,544.18 84.046 84.046 84.049 84.243 84.243 20,106.79 19,800.36 12,755.60 37,661.44 20,106.79 20,106.79 (4) 19,800.36 19,800.36 (4) 33,403.06 12,755.60 12,755.60 (4) 34. COLQUITT COUNTY RQARP QJ: EDUCATION SCHEDULE QF FEQERAI FINANCIAL AS,Rf$TANCE YEAR ENDED JUNE 30 1994 SCHEDULE "1" FUNDING AGENCY PROGRAM/GRANT CFDA NUMBER AWARDS IN PERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) FEDERAL REVENUE IN PERIOD EXPENDITURES IN PERIOD Education, U.S. Department of Through Benien County Board of Education dlb,la Southern Pine Migrant Education ~ Elementary and Secondary Education Act Chal)ter1 Migratory Education Program 1993 Regular 1993SUmmer 1994 Regular _,,_,,,,1994Summer Through Southwest Georgia Regional Educational '"II-Free Schoola and Communijies Act 84.011 84.011 84.011 $ 84.011 84.186 $ 72,100.00 84,454.88 1 045.82 -2,344.37 57,970.59 $ 72,014.67 43,833.11 $ 62,051.80 25,819.97 43,833.11 62,051.80 25,819.97 1 045.82 2 268.67 2 268.67 Total U.S. Department of Education $ 2 342142.45 $ 2 164 994.99 $ 2142,176.93 $ 2 083960.74 Health and Human Services, U. S. Department of Through Georgia Department of Human Reooun:es lncluoive Schoola Project Labor, u. s. Department of "!prougllSoothweo!Georgia Regional DelleloprnentCenter Job Training Partnership Act Contract No. 92.A-106 Contract No. 93-8-60 Contract No. 93-125CR Contract No. 93-8-74 93.630 $ 7400.00 $ 17.250 17.250 17.250 17.250 $ 44,842.00 51055.00 2 250.00 $ 2250.00 (4) 3,823.62 40,195.66 $ 37,018.81 2 491.00 34,357.00 $ 40,760.20 21 905.66 34,357.00 40,760.20 21905.66 Total U. S. Department of Labor $ 95897.00 $ 83529.09 $ 97022.86 $ 97022.86 Total Federal Financial Assistance $ 4 192 874.80 $ s 3859834.n 3 821 245.21 $ 4412 752.70 Major Programs are idenlifoed by an asterisk(") in front of the CFDA number. (1) -neeThe amounts lhown for the Food Distribution Program represents the Federally assigned value of nonmonetary for donated commodtties di81ributed to the system by the Georgia Department of Education. The value of theee commodities is not included in the system's financial statements. (2) Expendttu""' for the School Breakfast Program were 1101 maintained separately and are included in the 1994 National School Lunch Program. (3) Expendttures for this program include State, and/or Local and Other Funds. Expenditures are not maintained by fund source. (4) Expendttures on this program_,., 1101 maintained by fund source. See 1101es to the general l)Ulj)O&