Audit report, Colquitt County Board of Education, Moultrie, Georgia, year ended June 30, 1995

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

AUDIT REPORT COLQUITT COUNTY BOARD OF EDUCATION
MOULTRIE, GEORGIA YEAR ENDED JUNE 30, 1995

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

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUNDS

4

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

6

D

COMBINED STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN RETAINED EARNINGS/FUND BALANCES

PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND AND

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS

7

E

COMBINED STATEMENT OF CASH FLOWS

PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND AND

FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS

9

F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

10

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

G

COMBINING BALANCE SHEET

24

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

.

26

CAPITAL PROJECTS FUND

I

COMBINING BALANCE SHEET

28

J

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

30

COLQUITT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

EXHIBITS

COMBINING STATEMENTS

FIDUCIARY FUND TYPES

K

COMBINING BALANCE SHEET

32

L

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

EXPENDABLE TRUST FUNDS

34

SCHEDULES

. 1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

35

2 CASH AND CASH EQUIVALENTS

37

3 INVESTMENTS

38

4 ACCOUNTS RECEIVABLE

39

SCHEDULE OF REVENUE

5

STATE

40

6

LOCAL AND OTHER

41

SCHEDULE OF EXPENDITURES BY OBJECT

7

GOVERNMENTAL FUND TYPES

43

8

LOTTERY PROGRAMS

44

9

FIDUCIARY FUND TYPE

. EXPENDABLETRUSTFUNDS

46

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

10

OVERALL

47

11

BY PROGRAM

48

12 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

50

COLQUITT COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -
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
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 PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Colquitt County Board ofEducation
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through F) of the Colquitt County Board of Education, as of and for the year ended June 30, 1995, 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.
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.
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 of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 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 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 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 Colquitt County Board of Education as of June 30, 1995, and the results of its operations and the cash flows of its proprietary and nonexpendable trust funds for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated July 24, 1996, on our consideration of the Board's internal control structure and a report dated July 24, 1996, on its compliance with laws and regulations.
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 1 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 ofthe Colquitt County Board of Education. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third 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 pennanent 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,
ff~~
Claude L. Vickers State Auditor
CLV:gp 95ARL-13*

COLQUITT COUNTY BOARD OF EDUCATION - 1-

COLQUITT COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET ALL FUND TYPES JUNE 30, 1995

ASSETS Cash and Cash Equivalents Investments Accounts Receivable Inventories
Food Donated Commodities Purchased Food
Total Assets

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

$ 1,215,165.38 $

871,541.49 $

335,931.45

954,010.78

162,143.43

366,818.92

358,810.38

101,162.23

34,840.06 16,907.39

$ 2,535,995.08 $ 1,282,099.32 $

599,237.11

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable Salaries Payable Expired Grant Balances Payable Claims Payable Contracts Payable Retainages Payable Deferred Revenue
Total Liabilities
FUND EQUITY
Retained Earnings Unreserved
Fund Balances Reserved For Continuation of Federal Program For Endowment Corpus For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For State Capital Outlay Projects
Unreserved Designated for Self-Insurance Undesignated
Total Fund Equity
Total Liabilities and Fund Equity

$

76,606.15 $

13,200.00

358,841.51

$

1,270.74

47,031.63

228,187.82

221,853.26 134,439.00

$

1,270.74 $

710,667.11 $

369,492.26

$

$

129,161.45

7,246.43

$

129,161.45 $

83,337.44 2,322,225.45

$ 2,534,724.34 $

34,840.06 16,907.39
$ 58,993.88 $
512,438.33 571,432.21 $

229,744.85 229,744.85
0.00 229,744.85

$ 2,535,995.08 $ 1,282,099.32 $

599,237.11

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

EXHIBIT"A"

PROPRIETARY FUND TYPE INTERNAL
SERVICE FUND

FIDUCIARY FUND TYPE TRUST FUNDS

TOTALS {Memorandum Onll} JUNE 30, 1995 JUNE 30, 1994

$

904,591.25 $ 116,819.13 $ 3,444,048.70 $ 3,500,844.50

1,116,154.21

1,468,720.75

621.05

827,412.58

950,988.69

34,840.06 16,907.39

35,646.78 20,906.23

$

904,591.25 $ 117,440.18 $ 5,439,362.94 $ 5,977,106.95

$

16,152.00

$

16,152.00

$

89,806.15 $

358,841.51

48,302.37

16,152.00

221,853.26

134,439.00

228,187.82

$ 1,097,582.11 $

68,426.80 315,627.03
12,282.80
234,355.92 630,692.55

$

888,439.25

$ 888,439.25 $ 687,392.38

$

75,000.00

7,246.43 75,000.00 129,161.45

5,560.54 75,000.00 96,918.70

34,840.06 16,907.39 229,744.85

35,646.78 20,906.23 393,197.80

$

888,439.25 $

75,000.00 $ 1,381,339.43 $ 1,314,622.43

0.00

42,440.18

83,337.44 2,877,103.96

82,739.38 3,949,052.59

$

888,439.25 $ 117,440.18 $ 4,341,780.83 $ 5,346,414.40

$

904,591.25 $ 117,440.18 $ 5,439,362.94 $ 5,977,106.95

- 3-

COLQUITT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS 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 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 (Restated - See Note 1)
Food Inventory - Net Change in Period Donated Commodities Purchased Food

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL REVENUE

CAPITAL PROJECTS

FUND

FUND

$ 23,471,991.50 $ 117,737.34
710711600.80
$ 3016611329.64 $

1,064,924.27 $ 3,791,431.55
5891TT8.08
s 5A461133.90

2,956,164.00 341530.11
219901694.11

$ 19,695,366.90 $ 2,281,420.11

1,040,407.87 687,737.74 874,865.83 222,TT2.72
2,123,474.79 463,003.40
3,178,457.25 1,658,167.35
140,742.06 15,277.23
141,130.79
5,140.48 181308.00

220,080.51 69,299.84 85,680.79
203,243.44
114,165.41 26,464.99
15,507.72 2,322,834.20
25,329.93
501800.00 $ 414281236.08

$ 30,2641852.41 $ 5,414,826.94 $ 414281236.08

$

3961477.23 $

31,306.96 $ -114371541.97

$ $ -883,430.22
$ -883,430.22 $

2,546.40 $ 679,836.95 2,546.40 $ 6791836.95

$ -486,952.99 $ 3,021,677.33

33,853.36 $ 542,384.41

-757,705.02 987,449.87

-806.72 -31998.84

FUND BALANCE JUNE 30

$ 2,534,724.34 $ 571,432.21 $ 229,744.85

The notes to the general purpose financial statements are an integral part of this statement. -4-

EXHIBIT"B"

TOTAL

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS

TOTALS (Memorandum Only)
YEAR ENDED JUNE 301 1995 JUNE 30, 1994

$ 27,493,079.n 3,909,168.89 7,695,908.99 $
$ 39,098,157.65 $

$ 27,493,079.n $

3,909,168.89

13,488.58

7,709,397.57

22,TT0,450.09 3,821,245.21 7.759,328.02

13,488.58 $ 39, 111,646.23 $ 34,351,023.32

$ 21,976,787.01
1,260,488.38 757,037.58 960,546.62 426,016.16 $
2,123,474.79 463,003.40
3,292,622.66 1,684,632.34
140,742.06 30,784.95
2,463,964.99 25,329.93 5,140.48
4,497,344.08
$ 40,107,915.43 $
$ -1,009.757.78 $

$ 21,976,787.01 $ 20,685,202.67

36.00 3,000.00

1,260,488.38 757,037.58 960,546.62 426,052.16
2,123,474.79 463,003.40
3,292,622.66 1,684,632.34
140,742.06 30,784.95 2,463,964.99 25,329.93 8,140.48 4,497,344.08

1,018,667.89 749,745.70
1,085,991.39 448,569.02
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 11,122.00 275,849.38

3,036.00 $ 40,110,951.43 $ 33,843,298.43

10,452.58 $ -999,305.20 $

507,724.89

$ 682,383.35 -883,430.22
$ -201,046.87

$

682,383.35 $

348,127.60

-883,430.22

-348, 127.60

$ -201,046.87 $

0.00

$ -1,210,804.65 $ 4,551,511.61

10,452.58 $ -1,200,352.07 $

28,331.57

4,579,843.18

507,724.89 4,090,505.49

-806.72 -3,998.84

-806.72 -3,998.84

-17,954.88 -432.32

$ 3,335,901.40 $ 38,784.15 $ 3,374,685.55 $ 4,579,843.18

-5-

COLQUITT 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

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 FINAf!iCING SOURCES {USES)
Other Sources Other Uses
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
EUND BALANCE JULY 1.1994
Adjustments

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 23,973,835.00 $ 23,471,991.50 117,737.34
614271118.00 710711600.80
$ 3014001953.00 $ 30,6611329.64

$ 20,921,446.01 $ 19,695,366.90

1,096,226.03 901,295.97 969,405.48 219,933.27
2,052,433.99 473,n1.1s
3,369,026.89 1,610, 185.62
109,452.13 36,180.00 n,988.78

1,040,407.87 687,737.74 874,865.83 zn.,n2.12
2,123,474.79 463,003.40
3,178,457.25 1,658,167.35
140,742.06 15,2n.23
141,130.79

2501000.00

5,140.48 18,308.00

$ 32,0871345.92 $ 30,2641852.41

$ -1,6861392.92 $ 39614n.23

$ -150,000.00 $ -883,430.22 $ -150,000.00 $ -883,430.22
$ -1,836,392.92 $ -486,952.99 2,625,359.84 3,021,sn.33

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 261,694.00 $ 1,064,924.27

2,209,663.35 3,791,431.55

210651621.00

5891n8.oa

$ 415361978.35 $ 5,4461133.90

$ 1,616,816.45 $ 2,281,420.11

103,090.00 52,959.00
67,252.00 179,949.00

220,080.51 69,299.84 85,680.79 203,243.44

25,582.58 23,642.00

114,165.41 26,464.99

20,136.00 2,372,352.35
26,m.oo 291500.00

15,507.72 2,322,834.20
25,329.93
501800.00

$ 4,5181056.38 $. 5,414,826.94

$ 18,921.97 $ 31,306.96

$

2,546.40

$

2,546.40

$ 18,921.97 $ 33,853.36

619,878.80

485,831.40

130,459.60

FUf!il2 BALANCE JUNE 30. 1995

$ 788,966.92 $ 2,534,724.34

$ 769,260.37 $ 519,684.76

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 RETAINED EARNINGS/FUND BALANCES
PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND AND FIDUCIARY FUND TYPE NONEXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30.1995

EXHIBIT"D"

OPERATING REVENUES
Charges for Services
OPERATING EXPENSES Current Administration Bank Service Charges Scholarships Workers Compensation Claims
Total Operating Expenses
Operating Income (Loss)
NQNOPERATING REVENUE
Interest Earned
Net Income (Loss) Before Operating Transfer
OPERATING TRANSFER IN
Transfers from Other Funds
Net Income (Loss) for the Year
RETAINED EARNINGS/ FUND BALANCE JULY 1 (Restated - See Note 1)

PROPRIETARY FUND TYPE WORKERS'
COMPENSATION FUND

FIDUCIARY FUND TYPE

NONEXPENDABLE TRUST FUNDS

TOTALS

CLASS OF 1988

MCKEE

ODOM

(Memorandum Onl:z:}

SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP YEAR ENDED

FUND

FUND

FUND

JUNE 30, 1995

$

88,647.95 $

0.00 $

0.00 $

0.00 $

88,647.95

$

62,602.11

$

42,947.51

$

105,549.62 $

$

-16,901.67 $

5.00 $ 275.00

10.00 $ 1,156.00

$ 30.00 2,100.00

280.00 $ -280.00 $

1,166.00 $ -1,166.00 $

2,130.00 $ -2,130.00 $

62,602.11 45.00
3,531.00 42,947.51
109,125.62
-20,477.67

16,901.67

$

0.00 $

238.38 -41.62 $

768.92

2,045.89

-397.08 $

-84.11 $

19,954.86 -522.81

201,046.87

$

201,046.87 $

687,392.38

-41.62 $

-397.08 $

-84.11 $

6,300.83

20,343.65

52,534.38

201,046.87 200,524.06
766,571.22

RETAINED EARNINGS/ FUND BALANCE JUNE 30

$

888,439.25 $

6,259.21 $

19,946.57 $

52,450.25 $-==-=96===7..,095===.2=8

The notes to the general purpose financial statements are an integral part of this statement. -7-

COLQUITT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND AND FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30. 1995

EXHIBIT"E"

Cash Flows from Operating Activities: Cash Received from Contributions to Self-Insurance Employee Benefits Cash Paid for Administrative Costs Cash Paid for Scholarships Cash Paid for Workers' Compensation Claims
Net Cash Provided (Used) by Operating Activities
Cash Flows from Noncapital Financing Activities: Operating Transfers-In from Other Funds July 1, 1994 Balance (Restated - See Note 1)
Net Cash Provided (Used) by Noncapital Financing 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

PROPRIETARY FUND TYPE WORKERS'
COMPENSATION FUND

FIDUCIARY FUND TYPE

NONEXPENDABLE TRUST FUNDS

CLASS OF 1988

MCKEE

ODOM

SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP

FUND

FUND

FUND

TOTALS {Memorandum Onl~
YEAR ENDED JUNE 30. 1995

$

88.647.95

-62,602.11

$

-26,795.51

$

-749.67 $

-275.00 $

-1,156.00 $

$ -2,100.00

-275.00 $

-1,156.00 $

-2,100.00 $

88,647.95 -62,602.11
-3,531.00 -26,795.51
-4,280.67

$

201,046.87

687,392.38 $

$

888,439.25 $

$

16,901.67 $

$

16,901.67 $

$

904,591.25 $

$

0.00 $

0.00 $

0.00 $

$ 0.00

0.00 $

0.00 $

0.00 $

226.52 $ -5.00

729.00 $ -10.00

1,938.01 $ -30.00

221.52 $ -53.48 $ 6,281.05 $

719.00 $ -437.00 $ 20,277.13 $

1,908.01 $ -191.99 $ 52,354.57 $

201,046.87 687,392.38
888,439.25
19,795.20 -45.00
19,750.20 903,908.78
78,912.75

Cash and Cash Equivalents - June 30

$

904,59125 $

6,227.57 $

19,840.13 $

52,162.58 $

982,821.53

Reconciliation of Operating Income to Net Cash Provided (Used) by Operating Activities: Operating Income (Loss) Increase in Claims Payable Net Cash Provided from Investing Activities

$

-16,901.67 $

16,152.00

-280.00 $

-1,166.00 $

-2,130.00 $

5.00

10.00

30.00

-20,477.67 16,152.00
45.00

Net Cash Provided (Used) by Operating Activities

$ ====-7=4=9.=67=$

-275.00 $

-1,156.00 $

-2,100.00 $====-4=,..,28=0=.6=7

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

COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Colquitt County Board ofEducation (Board) was established under the laws ofthe State ofGeorgia 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 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 ofthe Colquitt County Board ofEducation.
Based upon the application ofthe above criteria, the Colquitt 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 Colquitt County, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Stand~ds.
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 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 ofaccounts.
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.

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COLQUITT COUNTY BOARD OF EDUCATION

E:xmBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

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 ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.
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.
PROPRIETARY FUND - the fund used to account for activities ofthe Board similar to those found in the private sector, where cost recovery and the determination of net income is useful or necessary for sound fiscal management. Internal service funds are a type of proprietary fund and are used to account for operations on a cost reimbursement basis that provide services to other funds or programs of the Board.
WORKERS' COMPENSATION FUND - the internal service fund used to account for Workers' Compensation contributions and expenditures.
FIDUCIARY FUND TYPES - the trust funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include:

- 11 -

COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NONEXPENDABLE TRUST FUNDS Class of 1988 Scholarship Fund and McKee Scholarship Fund - the funds used to account for an endowment 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.
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 FUND Goff Scholarship Fund, Millsap Scholarship Fund and Pippin Scholarship Fund - the funds used to account for scholarships to be made to graduating seniors of Colquitt County High School.
BASIS OF ACCOUNTING
The accounting and :financial reporting treatment applied to a fund is determined by its measurement focus. All governmental 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.
The proprietary and 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. The Board applies all applicable Governmental Accounting and Financial Reporting Principles in accounting and reporting for its proprietary operations.
Governmental and expendable trust 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, local option sales taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end.
- 12 -

COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 of the compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the si.milar 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.
The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by proprietary and nonexpendable trust funds. Under the accrual basis ofaccounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
RESTATEMENT OF PRIOR YEAR FUND BALANCES
In prior years, the risk financing activities for the Board's worker's compensation and unemployment compensation liabilities were reported as expendable trust funds. The Workers' Compensation and Unemployment Compensation Funds had fund balances of$687,392.38 and $82,739.38, respectively. For fiscal year 1995, the Workers' Compensation Fund has been reported as a Proprietary Fund - Internal Service Fund and the Unemployment Compensation Fund has been reported as a part of the General Fund. The fund balances at July l, 1994, have been restated as appropriate.
BUDGET
The Colquitt 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 of budget control was established by the Board at the aggregate level. The proprietary fund budget was prepared and utilized as a management tool to assess the operations ofthe internal service fund. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.

- 13 -

COLQUITT COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note I: SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES

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 of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions 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 "BII of this report:

Excess ofRevenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
Fund Balance July l, 1994
Adjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods
Fund Balance June 30, 1995 (Budget Basis)

Special Revenue
Fund
$ 33,853.36 542,384.41
-35,646.78 -20,906.23 $ 519,684.76

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.

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COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following:
(1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and
(8) Obligations of other political subdivisions of the State of Georgia.
RECEIVABLES
Receivables consist ofgrant reimbursements due 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 of Commissioners fixed the property tax levy for the 1994 tax year (calendar year) on October 17, 1994 (levy date). Taxes were due on December 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 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.
- 15 -

COLQUITT COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The tax millage rate levied for the 1994 tax year (calendar year) for the Colquitt County Board ofEducation was as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

.8...13. 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 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 of these financial statements.

INTERFUND TRANSACTIONS

The Board has the following types of interfund transactions:

Reimbursements 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.

Operating transfers are recorded for all interfund transactions other than reimbursements.

- 16 -

COLQUITT COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES
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. Certain reclassifications have been made to the comparative data to conform to the current year classifications.
Note 2: DEPOSITS AND INVESTMENTS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent of the 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 of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds 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

- 17 -

COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 2: DEPOSITS AND INVESTMENTS

(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, 1995, the bank balances were $8,359,999.10. 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, 1995, as follows:

Risk Category

Bank Balance

1

$ 504,121.81

2

7,855,877.29

3

0.00

Total

$8,359,999.10

CATEGORIZATION OF INVESTMENTS At June 30, 1995, the carrying amount of the Board's total investments was $1,116,154.21 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. See Note 1 - Inventories

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COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATE1\1ENTS

JUNE 30, 1995

Note 4: RISK MANAGE1\1ENT

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 of loss associated with torts, assets and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years.

The Board has elected to self-insure for all losses related to natural disasters. The Board has not experienced any material losses related to natural disasters in the past three years.

The Board has established a limited risk management program for workers' compensation claims. A premium is charged by the Internal Service 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 liabilities being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. These losses include an estimate of claims that have been incurred but not reported. An excess coverage insurance policy covers individual claims in excess of $1,000,000.00 loss per occurrence, up to the statutory limit.

Changes in the workers' compensation claims liability during the last two fiscal years are as follows:

Beginning of Year Liability

Claims and Changes in Estimates

Claims Paid

EndofYear Liability

1994

$

0.00 $ 38,610.87 $ 38,610.87 $

0.00

1995

$

0.00 $ 42,947.51 $ 26,795.51 $ 16,152.00

The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated.

Changes in the unemployment compensation claims liability during the last two fiscal years are as follows:

Beginning of Year Liability

Claims and Changes in Estimates

Claims Paid

End of Year Liability

1994

$

0.00 $ 9,122.00 $ 9,122.00 $

0.00

1995

$

0.00 $

1,591.00 $

1,591.00 $

0.00

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COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 5: SIGNIFICANT COMMITMENTS

At June 30, 1995, the Board had commitments in the amount of $228,187.82 for the unperformed portion of

purchase orders, contracts and other commitments for goods and services associated with programs funded

by Lottery funds. Lottery funds are available to the Board in an amount equal to these commitments. The

revenues and expenditures associated with these commitments will be recognized in the financial statements

in the subsequent fiscal year. Commitments outstanding do not constitute expenditures or liabilities in the

current year because these commitments will be honored during the subsequent year. These commitments are

identified by Lottery Program as follows:



Instructional Technology Technology Installation

$ 121,010.82 107,177.00

$ 228 187 82

The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1995.

Project

Unearned Executed Contracts

94-635-025

$ 123 410.00

The amount described in this note is 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 of the 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. See Note 1 - Compensated Absences

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COLQUITT COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

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 in accordance with State statute. A member is eligible for service retirement after 30 years ofcreditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting 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 $20,665,647.00; total payroll was $23,729,138.46.
TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% oftheir 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 $3,473,903.25, of which $2,440,612.91 was made by the Board and $1,033,290.34 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll.

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COLQUITT COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 8: RETIREMENT PLANS

TRSFUNDINGSTATUSANDPROGRESS 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, 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 of assets 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 $2,440,612.91 was actuarially determined and represented .4319% 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 of60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to

- 22 -

COLQUITT COUNTY BOARD OF EDUCATION

EXIIlBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 8: RETIREMENT PLANS
$8.00 per month multiplied by the number ofyears 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 ifthe employee had retired at age 65 as long as the employee has 15 or more years ofcreditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life halfofwhat 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 251 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 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 1995 amounted to $8,668.00. 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 9: SURETY BONDS
The School Superintendent, Mr. William Yearta, is bonded in the amount of $100,000.00 with the State Automobile Insurance Company, Columbus, Ohio, their Bond No. 0047680, on which premium was paid through June 30, 1996.

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COLQUITT 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

ELEMENTARY AND SECONDARY

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

EDUCATION OF CHILDREN IN
STATE SCHOOLS

CHAPTER 1 EDUCATION OF
DEPRIVED CHILDREN

MIGRANT PROGRAM

$ 670,213.14 $ 262,395.20 $

364.07

$ 1,233.57

13,533.31

1,549.41 $ 224,159.11

33,767.30

34,840.06 16,907.39

Total Assets

$ 735,493.90 $ 262,395.20 $

11913.48 $ 224,159.11 $ 35,000.87

LtABILtI!ES ANP FUNP EQUITY
LIABILITIES
cash overdraft
Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue
Total Liabilities
FUNPEOUITY
Fund Balances Reserved For Continuation of Federal Program For Inventories Food Donated Commodities Purchased Food
Unreserved Undesignated
Total Fund Equity

$ 28,434.91 $

483.55 $

135,626.78

33,723.83

228,187.82

$ 164,061.69 $ 262,395.20 $

$ 7,246.43
34,840.06 16,907.39 $ 58,993.88 512,438.33 $ $ 571,432.21 $

0.00 $ 0.00 $

$ 211.19 1,552.42 149.87

36,781.65 33,364.20 $ 154,013.26

3,371.04 21,438.32 10,191.51

1,913.48 $ 224,159.11 $ 35,000.87

0.00 $ 0.00 $

0.00 $

0.00

0.00 $

0.00

Total Liabilities and Fund Equity

$ 735,493.90 $ 262,395.20 $

1,913.48 $ 224,159.11 $ 35,000.87

See notes to the general purpose financial statements.

-24-

EDUCATION ACT
CHAPTER2 BLOCK GRANT FLOW THROUGH

TITLE 11EISENHOWER MATHEMATICS AND SCIENCE EDUCATION

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI B

FLOW

PRESCHOOL

THROUGH

PROGRAM

JOB TRAINING PARTNERSHIP
ACT

TOTALS JUNE 301 1995 JUNE 301 1994

$

0.00

$

1,069.n

$ 935,275.75 $ 849,753.46

$

3,501.96 $ 38,678.63

23,149.94 $ 20,470.72

358,810.38

324,798.01

34,840.06 16,907.39

35,646.78 20,906.23

$

0.00 $

3,501.96 $ 38,678.63 $ 24,219.71 $ 20,470.72 $ 1,345,833.58 $ 1,231,104.48

$

3,501.96 $

5,3n.07

$ 18,073.58 $ 63,734.26 $ 58,027.52

6,433.25 $

4,075.91

232.10

76,606.15

68,426.80

26,868.31

17,1n.38

2,165.04

358,841.51

315,627.03

2,966.42

47,031.63

12,282.80

228,187.82

234,355.92

$

3,501.96 $ 38,678.63 $ 24,219.71 $ 20,470.72 $ n4,401.37 s 688i720.07

$

7,246.43 $

5,560.54

34,840.06 16,907.39

35,646.78 201906.23

$

58,993.88 $

62,113.55

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00

512,438.33

480,270.86

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00 $ 5711432.21 $ 542,384.41

$

0.00 $

3,501.96 $ 38,678.63 $ 24,219.71 $ 20,470.72 $ 1,345,833.58 $ 1,231,104.48

-25-

COLQUITT COUNTY BOARD OF EDUCATION
COMBINING STATEMENT OF REVENUES, EXPENDITURES ANP CHANGES IN FUND BALANCES SPECIAL REVENUE FUND YEAR ENPEP JUNE 30, 1995

ELEMENTARY AND SECONDARY

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

EDUCATION OF CHILDREN IN
STATE SCHOOLS

CHAPTER 1 EDUCATION OF
DEPRIVED CHILDREN

MIGRANT PROGRAM

REVENUES

State Funds Federal Funds Local and Other Funds

$ 167,190.00 $ 897,734.27

1,605,280.02
589,na.oa

$

22,948.13 $ 1,474,302.11 $ 155,591.41

Total Revenues

$ 2,362,248.10 $ 8971734.27 $

22,948.13 $ 11474,302.11 $ 1551591.41

EXPENDITURES

Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations
Capital Outlay
Total Expenditures

$ 651,392.92 $

82,497.39 16,199.89 28,719.18 15,970.02

97,m.49 393.28

$ 2,322,834.20

896.89

61000.00

$ 2,322,834.20 $ 8991847.06 $

13,456.48 $
4,962.10 4,529.55

1,274,327.45 $ 140,349.72

2,916.41 10,997.54

111,455.88

15,194.00

1,193.92 14,454.88

14,610.83

22,948.13 $

441800.00 114741302.11 $ 1551998.52

Excess of Revenues over (under) Expenditures

$ 39,413.90 $ -2,112.79 $

0.00 $

0.00 $

-407.11

QTl::!ER FINANCING SOURCES

Operating Transfers In

2,112.79

407.11

Excess of Revenues and other Financing Sources

over (under) Expenditures

$

39,413.90 $

0.00 $

0.00 $

0.00 $

0.00

FUND BALANCE JULY 1

536,823.87

0.00

0.00

0.00

0.00

Food Inventory - Net Change in.Period Donated Commodities Purchased Food
Residual Equity Transfer

-806.72 -3,998.84

EUNQ BALANCE JUN!;; 30

$ 571,432.21 $

0.00 $

0.00 $

0.00 $

0.00

See notes to the general purpose financial statements.

-26-

EXHIBITH"

EDUCATION ACT
CHAPTER2 BLOCK GRANT FLOW THROUGH

TITLE 11EISENHOWER MATHEMATICS AND SCIENCE EDUCATION

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

TITLE VI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

JOB TRAINING PARTNERSHIP
ACT

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$ 1,064,924.27 $ 703,082.61

$

57,107.00 $

28,879.29 $ 284,618.06 $

70,501.52 $

92,204.01

3,791,431.55

3,7~.332.46

589?78.08

584.596.58

$

57.107.00 $

28,879.29 $ 284,618.06 $

70,501.52 $

92.204.01 $ 5,446,133.90 $ 5.054,011.65

$ 76,844.35 $ 45,529.59 $ 79,519.60 $ 2,281,420.11 $ 1,872,250.22

94,235.57

22,758.13

12,710.91

220,080.51

160,274.89

$

34,382.31

3,190.55

69,299.84

49,049.10

$

56,961.61

85,680.79

267,370.62

145.39

57.52

73,400.83

2,213.80

203,243.44

189,314.70

124.90

114,165.41

132,476.52

11,616.83

26,464.99

24,446.24

28.55

15,507.72

1,318.19

2,322,834.20 2,231,769.10

25,329.93

25,329.93

17,942.28

50,800.00

6,000.00

$

57,107.00 $

34,439.83 $ 284,618.06 $ 70,501.52 $ 92,230.51 $ 5,414,826.94 $ 4,952,365.31

$

0.00 $

-5,560.54 $

0.00 $

0.00 $

-26.50 $

31,306.96 $ 101,646.34

26.50

2,546.40

7.10

$

0.00 $

-5,560.54 $

0.00 $

0.00 $

0.00 $

33,853.36 $ 101,653.44

0.00

5,560.54

0.00

0.00

0.00

542,384.41

461,984.00

-806.72 -3,998.84

-17,954.88 -432.32
-2,865.83

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00 $ 571,432.21 $ 542,384.41

-27-

COLQUITT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1995

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

REGULAR

GEORGIA STATE

PROJECT

PROJECT

92/92S-635-024 93/94-635-024

$

0.00 $

124,933.39

$ 162,143.43

56,852.10

36,400.93

Total Assets

$

0.00 $

181,785.49 $ 198,544.36

LIABILITIES AND FUND EQUITY
LIABILITIES
Cash Overdraft Accounts Payable Contracts Payable Retainages Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For State Capital Outlay Projects Unreserved Undesignated
Total Fund Equity

$ 196,225.59

$ 171,585.49 10,200.00

2,318.77

$ 181,785.49 $ 198,544.36

$

0.00 $

$

0.00 $

0.00 $

0.00

0.00 $

0.00

Total Liabilities and Fund Equity

$

0.00 $

181,785.49 $ 198,544.36

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

EXHIBIT"!"

FINANCING AND INVESTMENT COMMISSION

PROJECT

PROJECT

PROJECT

94-635-025 94/94S-635-016 94/94S-635-017

TOTALS JUNE 30, 1995 JUNE 30, 1994

$ 289,961.65 $

58,120.00 $

59,142.00 $ 532,157.04 $ 424,141.44

162,143.43

561,357.65

7,909.20

101,162.23

1,950.78

$ 297,870.85 $

58,120.00 $

59,142.00 $ 795,462.70 $ 987,449.87

$ $ 47,949.00
124,239.00
$ 172,188.00 $

7,700.00 $ 7,700.00 $

$ 5,500.00
5,500.00 $

196,225.59 13,200.00
221,853.26 134,439.00
565,717.85

$ 125,682.85 $ 0.00
$ 125,682.85 $

50,420.00 $ 0.00
50,420.00 $

53,642.00 $ 0.00
53,642.00 $

229,744.85 $ 0.00
229,744.85 $

393,197.80 594,252.07 987,449.87

$ 297,870.85 $

58,120.00 $

59,142.00 $ 795,462.70 $ 987,449.87

-29-

COLQUITT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1995

REVENUES State Funds Local and Other Funds Total Revenues
EXPENDITURES Capital Outlay Building and Building Improvements
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
FUND BALANCE JUNE 30

REGULAR

GEORGIA STATE

PROJECT

PROJECT

92/92S-635-024 93/94-635-024

$ 568,521.00 $ 361,445.00

$

34,530.11

$

34,530.11 $ 568,521.00 $ 361,445.00

$

45,884.00 $ 1,227,957.25 $ 545,534.98

$

-11,353.89 $ -659,436.25 $ .,.184,089.98

$

645,605.00 $

-1,228,503.18

$ -582,898.18 $

581,650.75 $ 170,800.83 581,650.75 $ 170,800.83

$ -594,252.07 $
594,252.07

-77,785.50 $ -13,289.15

77,785.50

13,289.15

$

0.00 $

o.oo s=========o=.o=o

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

EXHIBIT "J"

FINANCING AND INVESTMENT COMMISSION

PROJECT

PROJECT

PROJECT

94-635-025 94/94S-635-016 94/94S-635-017

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

$ 2,026,198.00 $ $ 2,026,198.00 $

0.00 $

0.00 $

o.oo s____o_.o_o $

__ __ 2,956,164.00 34,530.11 $

2_6_,._3_92.65

2,990,694.11 $ _ _2_6,..3..9._2_.6_5

$ 2,559,999.85 $ $ -533,801.85 $

26,250.00 $ -26,250.00 $

22,610.00 $ 4,428,236.08 $ -22,610.00 $ -1,437,541.97 $

214,859.70 -188,467.05

$ 510,283.55 $ 510,283.55

$ 1,908,340.13 $ -1,228,503.18
$ 679,836.95 $

559,504.50 -211,384.00
348,120.50

$ -23,518.30 $ 149,201.15

,;.26,250.00 $ 76,670.00

-22,610.00 $ -757,705.02 $

76,252.00

987,449.87

159,653.45 827,796.42

$ 125.-682.85 $

50,420.00 $

53,642.00 $ 229,744.85 $ 987,449.87

- 31 -

COLQUITT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPES JUNE 30, 1995

ASSETS Cash and Cash Equivalents Accounts Receivable

NONEXPENDABLE TRUST FUNDS

CLASS OF 1988

MCKEE

ODOM

SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP

FUND

FUND

FUND

$

6,227.57 $

19,840.13 $

52,162.58

31.64

106.44

287.67

Total Assets

$

6,259.21 $

19,946.57 $ ======5=2'=45=0=.2=5

FUND EQUITY
Fund Balances Reserved For Endowment Corpus Unreserved Undesignated

$

6,000.00 $

19,000.00 $

50,000.00

259.21

946.57

2,450.25

Total Fund Equity

$

6,259.21 $

19,946.57 $ _=====5=2'=45=0=.2=5

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

EXHIBIT"K"


EXPENDABLE TRUST FUNDS

GOFF

MILLSAP

PIPPIN

SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP

FUND

FUND

FUND

TOTALS JUNE 30, 1995 JUNE 30, 1994

$

24,549.97 $

1,157.78 $

12,881.10 $ 116,819.13 $ 107,159.65

127.01

68.29

621.05

350.76

$

24,676.98 $

1,157.78 $

12,949.39 $ 117,440.18 $ 107,510.41

$

24,676.98 $

1,157.78 $

$ 12,949.39

75,000.00 $ 42,440.18

75,000.00 32,510.41

$

24,676.98 $

1,157.78 $

12,949.39 $ 117,440.18 $ 107,510.41

- 33-

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, 1995

REVENUES
Local and Other Funds
EXPENDITURES
Current Support Services General Administration Other Operations of Non-Instructional Services
Total Expenditures
Excess of Revenues over (under) Expenditures
FUND BALANCE JULY 1

GOFF SCHOLARSHIP
FUND

MILLSAP SCHOLARSHIP
FUND

PIPPIN SCHOLARSHIP
FUND

TOTALS YEAR ENDED JUNE 301 1995 JUNE 301 1994

$

11.951.06 $

1.032.30 $

505.22 $ 13.488.58 $

2.964.59

$

10.00 $

1.000.00

$

1.010.00 $

$

10,941.06 $

13.735.92

16.00 $ 1.000.00 1.016.00 $
16.30 $ 1141.48

10.00 $ 1.000.00 1.010.00 $

36.00 $ 3.000.00 3.036.00 $

28.00 2.000.00 21028.00

-504.78 $ 13454.17

10,452.58 $ 28.331.57

936.59 27.394.98

FUND BALANCE JUNE 30

$

24i676.98 $

11157.78 $

12,949.39 $ 38?84.15 $ 281331.57

See notes to the general purpose financial statements.

-34-

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30. 1995

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

Agriculture. U. S. Department of Direct Summer Food Services Program for Children 1994 Grant 1995Grant Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1995Grant National School Lunch Program 1994 Grant 1995 Grant Food Distribution Program

10.559

$

10.559 $ 112,026.20

10.553
10.555 10.555
10.550

357,329.31
1,179,252.87 162,037.25

48,523.36 $ 25,750.00

42,947.84 $ 25,750.00

43,076.44 (3) 18,503.57

357,329.31
12,255.18 1,165,719.56
NIA

357,329.31
1,179,252.87 (1)

(2)
2,261,254.19 (3) (1)

Total U. S. Department of Agriculture

$ 1,810,645.63 $

1,609,577.41 $ 1,605,280.02 $ 2,322,834.20

Education, U. S. Department of Through Berrien County Board of Education d/b/a Southern Pine Migrant Education Agency Elementary and Secondary Education Act Chapter 1 Migratory Education Program 1994 Regular 1994Summer 1995 Regular 1995Summer Through Georgia Department of Education Elementary and Secondary Education Act Chapter 1 Education of Children in State Schools 1994 Regular 1994 Carry-Over 1995 Regular Education of Deprived Children 1994 Regular 1994 Carry-Over 1995 Regular Chapter2 Block Grant - Flow Through 1995 Regular Title II Eisenhower Mathematics and Science Education 1994 Regular 1995 Regular Individuals with Disabilities Education Act Title VI, B Flow Through 1994 Regular 1994 Carry-Over 1995 Regular Preschool Program 1994 Regular 1994 Carry-Over 1995 Regular

84.011 84.011 84.011 $ 84.011

$
73,ns.oo 94,915.09

84.009 84.009 84.009
84.010 84.010 84.010

9,742.00 13,356.00
1n,2oa.oo 1,350,150.00

84.151

57,107.00

84.164 84.164

31,255.00

84.027 84.027 84.027
84.173 84.173 84.173

34,326.00 267,444.00
10,032.00 65,100.00

-9,962.87 84,127.34 $ 73,708.25

58,307.37 $ 63,516.74 33,767.30

58,714.48 (3) 63,516.74 33,767.30

104.10 9,742.00 11,806.59
190,988.67 1n,2oa.oo 1,on,935.00

9,742.00 13,206.13
1n,2oa.oo 1,302,094.11

9,742.00 13,206.13
1n,2oa.oo 1,302,094.11

57,107.00

57,107.00

57,107.00

3n.33 25,000.00

3n.33 28,501.96

5,937.87 28,501.96

29,686.91 34,326.00 211,613.43
23,252.01 10,032.00 40,286.00

34,326.00 250,292.06
10,032.00 60,469.52

34,326.00 250,292.06
10,032.00 60,469.52

- 35 -

COLQUITT COUNJY BOARD OF EDUCATION
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30 1995

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 Georgia Department of Education Vocational Education - Basic Grants to States High School Program Basic Grant 1995Grant Consumer and Homemaking Education 1995 Contract Tech-Prep Education 1994 Grant 1995Grant

84.048 $
84.049
84.243 84.243

95,526.44 $ 1,035.14
41974.08

86,781.30 $
149.14
13,951.68 41552.50

95,526.44
1,035.14 $
13,951.68 41974.08

(4)
1,048.36 (3)
(5) 41974.08

Total U. S. Department of Education

$ 212801895.75 $

Health and Human Services, U. S. Department of

Through Georgia Department of Human Resources

Inclusive Schools Project

93.630

$

2I147z772.38 $ 212091434.86 $ 211051937.61

21250.00 $

21250.00

(4)

Labor, U. S. Department of Through Southwest Georgia Regional Development Center Job Training Partnership Act Contract No. 93-125CR Contract No. 93-B-74 Contract No. 93-8-74 CR Contract No. 94-139-F1993 CR

17.250 17.250 17.250 $ 17.250

$
54,871.00 521526.00

3,741.39 47,250.00 $
43897.95

27,835.34 $ 12,661.31 51z707.36

27,835.34 12,661.31 51 z733.86 (3)

Total U.S. Department of Labor

$ 107,397.00 $

941889.34 $ 921204.01 $

921230.51

Total Federal Financial Assistance

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

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities distributed to the system by the Georgia Department of Education. The value of these commodities is not included in the system's financial statements.
(2) Expenditures for the School Breakfast Program were not maintained separately 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 program were recognized in the General Fund in the prior year.

See notes t9 the general purpose financial statements.

- 36 -

COLQUITT COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995

SCHEDULE "2"

NONINTEREST BEARING ACCOUNTS
American Banking Company, Moultrie, Georgia
Southwest Georgia Bank, Moultrie, Georgia
INTEREST BEARING ACCOUNTS
American Banking Company, Moultrie, Georgia
N.O.W. Accounts (2.65%)
NationsBank of Georgia, N.A., Moultrie, Georgia
Bonus Checking Account (Variable)
Southwest Georgia Bank, Moultrie, Georgia
Certificates of Deposit No. 45412 (6.00%) No. 45413 (6.00%) No. 45414 (6.00%) No. 45415 (6.00%) No. 45416 (6.00%)
N.O.W. Account (2.50%) Passbook Savings Accounts (3.50%)

$

4,121.81

661,098.90 $ 665,220.71

$ 1,223,024.03 123,577.31

11,870.00 22,076.31
5,500.00 50,000.00 18,500.00 1,315,407.52
8,872.82

2,778,827.99

$ 3,444,048.70

See notes to the general purpose financial statements. - 37 -

COLQUITT 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" $ 1,116,154.21

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

COLQUITT COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995

SCHEDULE "4"

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL REVENUE PROJECTS

FUND

FUND

FUND

FIDUCIARY FUND TYPE TRUST FUNDS

TOTAL

Colquitt County Tax Commissioner County Wide School Tax

$ 56,514.59

$ 56,514.59

Education, Georgia Department of Food Services National School Lunch Program Vocational Education State Funds Federal Funds Other State Programs At-Risk Summer School Remedial Summer School Federal Programs ESEA - Chapter 1 Education of Children in State Schools Education of Deprived Children ESEA-Trtle II Eisenhower Mathematics and Science Education Individuals with Disabilities Education Act - Title VI, B Flow Through Preschool Program

$ 13,533.31 135.00 10,052.72 15,700.00 10,331.54
1,549.41 224,159.11
3,501.96
38,678.63 23,149.94

13,533.31 135.00
10,052.72 15,700.00 10,331.54
1,549.41 224,159.11
3,501.96
38,678.63 23,149.94

Georgia State Financing and Investment Commission Reimbursement on Construction Projects

$ 98,856.26

98,856.26

Revenue, Georgia Department of Local Option Sales Tax

269,364.07

269,364.07

Southern Pine Migrant Education Agency Migratory Education Program

33,767.30

33,767.30

Southwest Georgia Regional Development Center Job Training Partnership Act

20,470.72

20,470.72

Various Sources Interest Earned Vendor Overpayment

4,721.00

833.12 $ 1,472.85

621.05

6,175.17 1,472.85

$ 366,818.92 $ 35a,a10.3a $ 101,1s2.23 $-==--==s2_1_.0_5 $ 827,412.58

See notes to the general purpose financial statements.

- 39 -

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1995

SCHEDULE "5"

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Limited English Speaking Special Instructional Assistance In-School Suspension Mid-term Adjustment Migrant Mid-term Adjustment School Counselors Grades 4 and 5 Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs At-Risk Summer School Program Environmental Science Program Innovative Programs Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Programs Algebra Classrooms Distant Leaming Instructional Technology Media Center and Library Equipment Pre-Kindergarten Program Safe Schools Grant Technology Installation
Georgia State Financing and Investment Commission Reimbursement on Construction Projects
OTHER Education, Georgia Department of Reimbursement for GENESIS Project Reimbursement for Workshops

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 13,269,108.00 2,238,348.00 659,031.00 585,853.00
181,no.oo
3,944,498.00
807,494.00 269,358.00 68,288.00 809,914.00 103,586.00 66,880.00 42,548.00 33,440.00 -1,938,337.00 2,082,112.00
$ 107,632.05
14,429.26 500.00
2,550.00 79,077.00 10,331.54 22,160.65

167,190.00
367.67 -29,386.38 252,300.53 27,422.56 447,666.17 97,767.96 42,823.00

$ 13,269,108.00 2,238,348.00 659,031.00 585,853.00 1s1,no.oo 3,944,498.00
807,494.00 269,358.00
68,288.00 809,914.00 103,586.00 66,880.00 42,548.00 33,440.00 -1,938,337.00 2,082,112.00 167,190.00 107,632.05
14,429.26 500.00
2,550.00 79,072.00 10,331.54 22,160.65
367.67 29,386.38 252,300.53 27,422.56 447,666.17 97,767.96 42,823.00

$ 2,956,164.00

2,956,164.00

5,000.00 425.00

5,000.00 425.00

$ 23,471,991.50 $ 1,064,924.27 $ 2,956,164.00 $ 27,493,079.n

See notes to the general purpose financial statements.

- 40 -

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE
YEAR ENDED JUNE 30, 1995

SCHEDULE "6"

Taxes County Wide School Tax Local Option Sales Tax Railroad Car Tax Real Estate Transfer Tax

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE PROJECTS

FUND

FUND

FUND

FIDUCIARY FUND TYPE EXPENDABLE
- - - - - TRUST FUNDS TOTAL

$ 3,767,220.54 2,995,603.77 5,853.86 16,920.89

$ 3,767,220.54 2,995,603.77 5,853.86 16,920.89

Other Canning Operations Compensation for Loss of Assets Donations Indirect Cost Special Revenue Fund Interest Earned Sales Adult Meals Breakfast Banquets Lunches Supplemental School Assets Tuition Other

7,398.05 4,846.93

$ 12,000.00

20,143.48 108,043.46

$ 34,530.11

1,488.58

$ 60,015.25
19,141.81 40,238.64 26,174.12

146,634.34 44,983.35
368,636.93 14,686.65
14,836.81

7,398.05 4,846.93 12,000.00
20,143.48 144,062.15
146,634.34 44,983.35 60,015.25
368,636.93 14,686.65 19,141.81 40,238.64 41,010.93

$ 7,071,600.80 $ 589,778.08 $ 34,530.11 $ 13,488.58 $ 7,709,397.57

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

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
GOVERNMENTAL FUND TYPES YEAR ENDED JUNE 30, 1995

SCHEDULE '7"

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 Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Federal Indirect Costs Other Expenditures
Nonoperating Costs Land and Land Improvements Building and Building Improvements Equipment

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 21,084,674.75 $ 2,607,23827 $ 23,691,913.02

4,412,516.90

549,64229

4,962,159.19

112,067.38

34,028.20

146,095.58

243,683.39

135,392.50

379,075.89

41,746.30

41,746.30

60,514.97

60,514.97

1,045,297.60

41,654.80

1,086,952.40

37,163.34

37,163.34

2,820.00

2,820.00

85,909.12

85,909.12

84,852.39

756.20

85,608.59

11,017.42

11,017.42

13,632.00

13,632.00

5,929.85

14,163.96

20,093.81

1,087,174.06

461,091.28

1,548,265.34

968,838.06

22,238.97

991,077.03

33,292.87

967,834.66

1,001,127.53

157,838.73

157,838.73

60,922.58

16,909.85

77,832.43

20,143.48

20,143.48

64,833.03

11,236.74

76,069.77

18,308.00 645,657.09

6,000.00 44,800.00 467,858.32

6,000.00 63,108.00 1,113,515.41

Total Expenditures

$ 30,264,852.41 $ 5,414,826.94 $ 35,679,679.35

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

COLQUITT 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 Repairs and Maintenance Services Communications Other Purchased Services Supplies Dues and Fees Other Expenditures
Nonoperating Costs Building and Building Improvements Equipment

ALGEBRA CLASSROOMS

DISTANT LEARNING

INSTRUCTIONAL TECHNOLOGY

MEDIA CENTER
AND
LIBRARY EQUIPMENT

$

458.62 $

28,347.32 $

60,811.14 $

8,850.18

1931244.14

191869.00

Total Expenditures

$

458.62 $

281347.32 $

254,055.28 $ _ _2_8_,,.1..1._9..1..8_

See notes to the general purpose financial statements.

- 44 -

SCHEDULE "8"

PRE-KINDERGARTEN PROGRAM

SAFE SCHOOLS
GRANT

TECHNOLOGY INSTALLATION

TOTAL

$

166,783.84

$ 166,783.84

36,771.81

36,771.81

10,500.34

10,500.34

61,352.65

$

42,823.00

104,175.65

$

14,370.08

14,370.08

640.00

640.00

849.96

849.96

109,100.05

1,120.00

208,687.31

898.16

898.16

1,127.84

1,127.84

6,000.00 53 641.52

82.287.41

6,000.00 349.042.07

$

447,666.17 $

97,777.49 $

42,823.00 $ 899,847.06

- 45 -

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUNDS
YEAR ENDED JUNE 30. 1995
EXPENDITURES Operating Costs Bank Charges Scholarships
Total Expenditures

SCHEDULE "9"

$

36.00

3,000.00

s-===3'==03==6==.o==o

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

COLQUITT 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

$ 16,795,624.00 $

566,224.00

$ 18,057,863.36 945,335.25 $
$ 19,003,198.61

782,919.93

-263,618.66
$ 18,739,579.95

$

o.oo $=====o=.o=o

See notes to the general purpose financial statements. - 47 -

COLQUITT COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS BY PROGRAM
GENERAL FUND- OUALITY BASIC EDUCATION PROGRAMS
YEAR ENDED JUNE 30. 1995

GENERAL ~Q CABEER EDUCAJ]QN PROGRAMS Kindergarten (") Grades 1 - 3 (") Sub-Total-K-3 Grades4-5(") . Grades 6 8 (") Grades 9-12 (") High School Laboratories (") Vocational Education Laboratories (") Total General and Career Education Programs
SPECIAL EDUCATION PROGRAMS Regular Programs Category I (") Category II (") Category Ill (") Category IV (") Sub-Total - Regular Category V (Gifted) (") Total Special Education Programs
REMEDIAL EDUCATION PROGRAM 1:) Total Thirteen Weighted Programs
MEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs
Total Thirteen Weighted and Media Center Programs

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

ORIGINAL

'16

ORIGINAL

MID-TERM

$ 1,384,777.00

$ 1,246,299.30 $

3,481,619.00

3,133,457.10

$ 4,866,396.00 90 $ 4,379,756.40 $

1,746,526.00 90

1,571,873.40

3,342,140.00 90

31J07,926.00

1,703,694.00 90

1,533,324.60

769,737.00 90

692,763.30

840,615.00 90

756,553.50

$ 13,269,108.00

$ 11,942,197.20 $

-6,086.00 43,205.00 37,119.00 -99,328.00 14,112.00 38,075.00 134,773.00 80,050.00 204,801.00

$ 2,019,801.00

$ 1,817,820.90 $

-18,785.00

$ 2,019,801.00

218,547.00

$ 2,238,348.00

$

659,031.00

$ 16,166,487.00

90 $ 1,817,820.90 $

90

196,692.30

$ 2,014,513.20 $

90 $

593,127.90 $

$ 14,549,838.30 $

-18,785.00 -29,810.00 -48,595.00 -111,594.00 44,612.00

$

460,579.00 90 $

414,521.10 $

125,274.00 90

112,746.60

$

585,853.00

$

527,267.70 $

-1,914.00 586.00
-1,328.00

$ 16,752,340.00

$ 15,077,106.00 $

43.284.00

STAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development
Total Staff Development (") Identifies Thirteen Weighted Programs. See notes to the general purpose financial statements.

$

44,206.00

143,564.00

$

44,206.00 $

143,564.00

310.00 0.00

$

187,770.00 100 $

181,110.00 s_ _.....,...,31..0....0..0...

- 48 -

SCHEDULE "11"

TOTAL REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNTOF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$ 1,240,213.30 $ 1,417,793.98 $

39,182.92 $ 1,456,976.90

3,176,662.10

4,270,568.55

94,323.03

4,364,891.58

$ 4,416,875.40 $ 5,688,362.53 $

133,505.95 $ 5,821,868.48 $

0.00

1,472,545.40

1,917,394.62

61,689.19

1,979,083.81

0.00

3,022,038.00

3,300,698.85

142,363.68

3,443,062.53

0.00

1,571,399.60

1,930,414.43

197,296.01

2,127,710.44

0.00

827,536.30

830,895.57

54,962.82

885,858.39

0.00

836,603.50

1,037,919.19

138,579.80

1,176,498.99

0.00

$ 12,146,998.20 $ 14,705.685.19 $

728,397.45 $ 15,434,082.64

$ 1,799,035.90 $

$ 1,799,035.90 $

166,882.30

$ 1,965,918.20 $

$

481,533.90 $

$ 14,594,450.30 $

$ 590,342.15 1,218,73428 187,092.45
1,996,168.88 $
229,025.41
2,225,194.29 $
441,255.54 $
17,372,135.02 $

846.76 $ 12,400.99 21,647.75 3,018.09

846.76 602,743.14 1,240,382.03 190,110.54

37,913.59 $ 2,034,082.47

8,573.28

237,598.69

46,486.87 $ 2,271,681.16

8,035.61 $

449,291.15

782,919.93 $ 18,155,054.95

0.00 0.00
32,242.75

$

412,607.10 $

685,728.34

$

685,728.34

0.00

113,332.60

$

162,415.32

162,415.32

0.00

$

525,939.70 $

685,728.34 $

162,415.32 $

848,143.66

$ 15,120,390.00 $ 18,057,863.36 $

945,335.25 $ 19,003,198.61 $

32,242.75

$

44,516.00

143,564.00.

s _-=1=ss==oso=.oo=

$

139,239.71 $

139,239.71

53,369.86

53,369.86

$

192.609.57 $

192,609.57 $-=====-===-==0.=00=

49

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
VEAR ENDED JUNE 30, 1995

SCHEDULE "1Z'

BOARD MEMBER ADDRESS
Mr. Harry Thompson, Chairman (*) 5094 Old Adel Road Moultrie, Georgia 31768
Ms. Debora Boyd (*) 901 7th Street, N. W. Moultrie, Georgia 31768
Mr. Wayne Lee(*) 338 Theron Tillman Road Coolidge, Georgia 31738
Ms. Jestina Lewis 702 7th Street, N. W. Moultrie, Georgia 31768
Mr. Jerry S. Meister (*) P. 0. Box63 Norman Park, Georgia 31771
Mr. Rick Moss (*) 3256 Funston-Sale City Road Doerun, Georgia 31744
Mr. Roy Reeves (*) P. 0. Box98 Moultrie, Georgia 31776
Mr. Ren Summerlin 161 Bonnie Tucker Road Moultrie, Georgia 31768
Dr. Alton J. Whiddon 707 7th South Main Street Moultrie, Georgia 31768

COMPENSATION

TRAVEL

$

3,600.00 $

4,528.28

1,800.00

1,441.38

3,600.00

4,854.40

1,800.00

1,235.50

3,600.00

2,730.75

1,800.00

1,320.23

1,800.00

1,564.76

1,800.00

1,235.50

1,800.00

1,235.50

$

21,600.00 $ =========2=0'=14=6=.3=0

(*) Denotes Board Members Serving as of June 30, 1995

See notes to the general purpose financial statements. - 50 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Colquitt County Board ofEducation
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Colquitt County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated July 24, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to Colquitt County Board ofEducation is the responsibility ofthe Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective ofour audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.
The results ofour tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards.

95CRL-10

This report is intended for the information of management, the Federal cognizant audit agency and other
Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a
matter of public record.
Respectfully submitted,
/7~~
Claude L. Vickers State Auditor
CLV:gp 95CRL-10

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Colquitt County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated July 24, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have applied procedures to test the Colquitt County Board ofEducation's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995:

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

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

95CRL-50

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not tested, nothing came to our attention that caused us to believe that the Colquitt County Board ofEducation had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed an'immaterial instance ofnoncompliance with those requirements, which is described in the Schedule ofFindings and Improper or Questioned Costs.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
d~
Claude L. Vickers State Auditor
CLV:gp 95CRL-50

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Colquitt County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated July 24, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

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

(1) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

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

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule ~f Federal Financial Assistance, for the year ended June 30, 1995. The management of the Colquitt County Board ofEducation is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

95CRL-80

We conducted our audit ofcompliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General ofthe United States; and Office ofManagement and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the Colquitt County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
ti"~~
Claude L. Vickers State Auditor
CLV:gp 95CRL-80

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

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

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Colquitt County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated July 24, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

In connection with our audit of the fiscal year 1995 general purpose financial statements of the Colquitt County Board ofEducation and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office ofManagement and Budget (0MB) Circular A128, "Audits ofState and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements goverrung:

(1) Types of Services Allowed or Unallowed

(2) Eligibility

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

95CRL-120

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Colquitt County Board ofEducation had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter ofpublic record.
Respectfully submitted,

CLV:gp 95CRL-120

Claude L. Vickers State Auditor

SECTION III INTERNAL CONTROL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Colquitt County Board ofEducation
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Colquitt County Board ofEducation as ofand for the year ended June 30, 1995, and have issued our report thereon dated July 24, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General ofthe United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free ofmaterial misstatement.
The management ofthe Colquitt County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs ofinternal control structure policies and procedures. The objectives ofan internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness ofthe design and operation of policies and procedures may deteriorate.

95ICL-3

In planning and perfonning our audit ofthe general purpose financial statements of the Colquitt County Board ofEducation for the year ended June 30, 1995, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion.

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

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

(I) Procurement

(2) General Fixed Assets

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

Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable conditions disclosed above are also considered to be material weaknesses.

These conditions were considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Colquitt County Board ofEducation's financial statements and this report does not affect our report thereon dated July 24, 1996.

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.

Respectfully submitted,

CLV:gp 95ICL-3

Claude L. Vickers State Auditor

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 24, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board ofEducation
and Superintendent and Members of the Colquitt County Board ofEducation
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Colquitt County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated July 24, 1996. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Colquitt County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated July 24, 1996.
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 Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Colquitt County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
In planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose ofexpressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated July 24, 1996.
95ICL-7

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

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

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

(5) Allowable Costs/Cost Principles

(4) Reporting

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

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

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

During the year ended June 30, 1995, the Colquitt County Board of Education expended 77% of its total Federal financial assistance under major Federal financial assistance programs.

We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to each of the Board's major Federal financial assistance programs, which

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are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations.
As descnbed in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
Administrative Requirements
A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is also considered to be a material weakness.
This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Colquitt County Board ofEducation's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1995, and this report does not affect our report thereon dated July 24, 1996.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~-~
Claude L. Vickers State Auditor
CLV:gp 95ICL-7

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Overpayment of Salary Financial Statements Finding Resolved Audit Control Number 6351-93-01
The audit report for the year ended June 30, 1990, reported an overpayment of$1,000.00 on an employee's 1990 contract salary. In the year under review, no action was taken by the Board to recover this overpayment. However, reimbursement of$1,000.00 was secured through a reduction ofthe employee's payroll earnings in the subsequent fiscal period.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $24,577.53 Audit Control Number 6351-93-04
The audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$24,577.53 for the salaries portion ofthe Remedial Education Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. These funds should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $472.71 Audit Control Number 6351-93-05
The audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure ofQuality Basic Education (QBE) funds of $472.71 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. These funds should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
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COLOIBTT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $44,186.50 Audit Control Number 6351-94-01
The audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure ofQuality Basic Education (QBE) funds of$44,186.50 for the salaries portion of the Remedial Education Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. These funds should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements . Amount: $27,681.96 Audit Control Number 6351-94-02
The audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$27,681.96 for the StaffDevelopment - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. These funds should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6351-93-02
The audit report for the year ended June 30, 1994, noted that the management of the Colquitt County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account
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COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition- Material Weakness Audit Control Number 6351-93-02
Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
PROCUREMENT Inadequate Purchasing Procedures Financial Statements Reportable Condition- Material Weakness Nonmaterial Noncompliance Audit Control Number 6351-93-03
The audit report for the year ended June 30, 1993, indicated that the Board failed to adhere to the local Board policy DJE dated January 12, 1988, which requires competitive bids to be obtained for purchases in excess of$5,000.00. A review ofthe Board's procurement system for the year under review noted the Board made some improvement in complying with their prescribed policy, but still not achieve complete compliance. Further action should be taken to ensure compliance with the Board's procurement policy for all future purchases.
ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Federal Financial Assistance Major Program Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 6351-93-07
Audit reports for years ended June 30, 1993 and June 30, 1994, disclosed that the Board's property management records for the Elementary and Secondary Education Act - Chapter 1 Program (CFDA 84.010) were incomplete and failed to meet property management standards as outlined in Chapter 8, ofthe Georgia Financial Accounting Handbook for Local Systems, which was superseded in the year under review by Chapter 41, ofthe Financial Management for Georgia Local Units of Administration (FMGLUA). For the year under review, the records presented for examination were again deficient and did not include either a detailed listing of equipment owned or adequate documentation for current year deletions from inventory.
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COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR/CURRENT YEAR
ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Federal Financial Assistance Major Program Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 6351-93-07
These deficiencies are a result ofthe Board's disregard for the proper maintenance of its property management records for this program. An inventory system should be implemented that provides for the identification of all equipment purchased and adequate documentation for all items deleted as outlined in Chapter 41, ofthe FMGLUA Perpetual inventory records should include historical information regarding additions and deletions made to the equipment inventory during each fiscal year. Periodic physical inventory counts should be performed and reconciled to the property records to ensure the accuracy ofinventory records.
CURRENT YEAR
EXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $32,242.75 Audit Control Number 6351-95-01
For the year under review, the Colquitt County Board ofEducation reported to the Georgia Department of Education on DE form 0420 underexpenditures of Quality Basic Education (QBE) funds of$32,242.75 for the Remedial Education Program. This underexpenditure occurred because the Board expended less than the minimum expenditure requirement for this QBE Program. These funds should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
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SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

COLQUITT COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1995
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $24,577.53 Audit Control Number 6351-93-04
We concur with this finding. This finding will be resolved by Georgia Department of Education through a future increase in Board's local fair share portion of QBE Allotments.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $472.71 Audit Control Number 6351-93-05
We concur with this finding. This finding will be resolved by Georgia Department of Education through a future increase in Board's local fair share portion of QBE Allotments.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $44,186.50 Audit Control Number 6351-94-01
We concur with this finding. This finding will be resolved by Georgia Department of Education through a future increase in Board's local fair share portion of QBE Allotments.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $27,681.96 Audit Control Number 6351-94-02
We concur with this finding. This finding will be resolved by Georgia Department of Education through a future increase in Board's local fair share portion of QBE Allotments.
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COLQUITT COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1995
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6351-93-02
We concur with this recommendation. Due to current staffing limitations and budgetary considerations prohibiting the hiring of additional administrative staffthe Board has decided not to pursue the recording of general fixed assets on the financial statements.
PROCUREMENT Inadequate Purchasing Procedures Financial Statements Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 6351-93-03
We concur with this finding, however bids are now requested and copies of the bids submitted are kept with our financial records. We also use state contract prices and vendors, therefore additional bids are not necessary for these purchases.
ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Federal Financial Assistance Major Program Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 6351-93-07
We concur with this finding. This inventory deficiency will be corrected by using the management requirement for equipment funded in whole or part with State or Federal funds page 8-9 of the Georgia Financial Accounting Handbook for Local School Systems.
EXPENDITURES/LIABILITIES/DISBURSEMENTS Failure to Meet Expenditure Requirements Financial Statements Nonmaterial Noncompliance Amount: $32,242.75 Audit Control Number 6351-95-01
We concur with this finding. This finding will be resolved by Georgia Department of Education through a future increase in Board's local fair share portion of QBE Allotments.
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