SA " 
 
,, 
 
,.,, . . 
 
,, 
 
., 
 
'. 
 
Aeoo -. '. 
 
", ~. " 
 
.'R \' '. 
 
I' 
 
E~~ 
 
" 
 
-' .' ' .- " 
 
.' 
, 
 
., 
 
" 
 
, .. , . 
 
C7 " 
~~:?'o 
. , 'I 
-, 
. A'Nb ,",. ,. . 
- .-. . ,, . 
.. . ,- 
 
,, 
" 
. '" 
 
" 
 
,. 
,' 
 
,. -,, ' 
 
" 
 
.~ 
 
" 
 
,, 
 
.' 
 
, 
 
, "' . , 
 
" 
 
" . STATE'OF GEORGIA. . , 
 
I. 
 
I' 
 
" 
 
.. 
" 
 
/OEPAR:tMEN..T' 
, 
" 
 
OF 
 
AUD, ' I.T.S 
 
'. 
 
" 
 
,. 
, 
 
" 
 
,. 
 
" 
" 
 
~'.;~ ".' 
 
ACCOUNTS: ., 
 
,. 
 
., 
 
" , .r 
 
" 
 
" 
 
" 
 
' 
 
" 
 
.. 
,I 
" 
, .... ,~~ 
. 
,'. 
 
". 
 
'. 
 
>, 
 
1 
 
., 
 
.' 
 
'. 
 
~I. 
 
. ' ...... 
 
" 
." 
 
'1 
 
I" 
- .' .." . 
 
" 
,I , 
 
I. 
.' 
 
" 
 
" 
 
.' , 
 
'. 
 
" 
 
"1. 'I I r 
 
. ~. 
 
'. " 
 
'.I 
 
., 
 
. '. " }..,' 
 
" 
 
I' 
" 
 
.'  1 
 
" 
c' 
 
,' 
 
.' 
" 
 
'. 
 
" 
 
" 
,~' 
 
.' 
"; .' 
 
-, 
 
" 
 
" 
, 
 
, - , I, I,' ," ' 
 
..' , " 
 
"' 
 
,/ 
 
,. 
 
.' 
 
,, 
 
,I 
 
.~ 
 
" 
 
'I , 
 
" 
 
" 
 
,, 
 
," ,- 
, 
 
: ," 
I ' 
 
" '. 
, 
'. 
.' 
..~ .-, ..' 
." , . 
 
COLCWIIT'COUNTY SOARD'OF EDUCATION' .. 
 
,.' 
" 
" 
,', 
 
.";.. ' 
..,, 
 
-, 
, 
" 
 
',,:' 
 
,MO{.J.L. TRIE, 
 
:GEORGIA 
." 
 
".: ,',. . 
-, 
 
-:REPORT ON AUDIT 
 
>' 
 
," 
 
" 
 
. OF THFFINANCIAL,STATEMENTS I " 
 
.FOR 
 
THE 
 
FiSCAl' ,. 
 
YEAR ' .' 
 
ENDED 
.~ 
 
JUNE 
 
30.. 
 
2002 ' 
 
-, 
 
,, 
,I _ 
 
" 
, t, 
 
.' 
,, 
." 
 
i .I' 
 
,, 
 
. ,. 
 
'. 
 
," 
 
.' 
 
~, 
 
,.'" 
 
..' " 
. ,,.-. 
J 
 
, I., 
.' 
 
..' 
 
" 
 
{' .. . 
 
" 
 
" 
 
'. 
 
,I 
 
" 
 
., Russell W.: Hinton " 
 
Sta.te. AU,dltor, 
 
", 
.' 
 
'. 
" 
 
,,' 
 
'. 
 
.-, 
 
" 
 
'-, 
 
" 
.' 
 
.' 
 
." 
 
, . " 
 
.' .' 
,, 
 
: 
" 
 
" 
 
" 
 
'" 
 
'- 
 
" 
" 
. " ' 
 
,, 
 
" 
 
,, 
 
., .", 
 
.-', ' 
 
, , 
 
.,', , 
 
'. 
 
,, 
 
" 
 
,J 
" 
 
 COLQum COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS- 
 
SECTION I 
 
FINANCIAL 
 
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATlONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 
 
EXHIBITS 
 
GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
COMBINED STATEMENTS - OVERVIEW 
 
A 
 
COMBINED BALANCE SHEET 
 
ALL FUND TYPES AND ACCOUNT GROUP 
 
2 
 
B 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES 
 
ALL GOVEM"MENTAL FUND TYPES 
 
AND EXPENDABLE TRUST FUNDS 
 
4 
 
C 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FU1'ID BALANCES BUDGET AND ACTUAL 
 
(NON-GAAP BASIS) 
 
GENERAL AND SPECIAL REVENUE FUNDS 
 
7 
 
D 
 
COMBINED STATEMENT OF REVENUES, EXPENSES AND 
 
CHANGES IN RETAINED EARNINGSIFUND BALANCES 
 
PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND 
 
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS 
 
8 
 
E 
 
COMBINED STATEMENT OF CASH FLOWS 
 
PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND 
 
FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS 
 
10 
 
F NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
13 
 
ADDITIONAL FINANCIAL INFORMATION 
 
COMBINING STATEMENTS 
 
SPECIAL REVENUE FUND 
 
G 
 
COMBINING BALANCE SHEET 
 
28 
 
H 
 
COMBINING STATEMENT OF REVENUES, EXPENDITURES 
 
AND CHANGES IN FUND BALANCES 
 
30 
 
CAPITAL PROJECTS FUND 
 
I 
 
COMBINING BALANCE SHEET 
 
32 
 
J 
 
COMBINING STATEMENT OF REVENUES, EXPENDITURES 
 
AND CHANGES IN FUND BALANCES 
 
34 
 
 COLOum COUNTY BOARD OF EDUCATION -TABLE OF CONTENTS- 
 
SEcnONI 
 
FINANCIAL 
 
ADDmONAL FINANCIAL INFORMATION 
 
EXHIBITS 
 
COMBINING STATEMENTS 
 
FIDUCIARY FUND TYPES 
 
K 
 
COMBINING BALANCE SHEET 
 
36 
 
L 
 
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES 
 
EXPENDABLE TRUST FUNDS 
 
38 
 
SCHEDULES 
 
I SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 
 
40 
 
2 SCHEDULE OF STATE REVENUE 
 
42 
 
3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECfS 
 
45 
 
ALLOTMENTS AND EXPENDITURES 
 
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS (QBE) 
 
4 
 
BY PROGRAM 
 
46 
 
5 
 
BY SITE 
 
47 
 
SEcnON II 
COMPLIANCE AND INTERNAL CONTROL REPORTS 
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 
 
SEcnONllI AUDITEE'S RESPONSE TO PRJOR YEAR FINDINGS AND QUESTIONED COSTS SUMMARY SCHEDULE OF PRJOR YEAR FINDINGS AND QUESTIONED COSTS 
 
 COLQUITI COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS- 
SECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS 
 
 SECTION I FINANCIAL 
 
 "{...,SFI!. W. H"TON 
STATE AUDlIOA ,A04j fi56 2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 WdshmglOn Slreet, S W SUite 214 Allanld, Georgia 10334H41Xl 
Apnl 18, 2003 
 
Honorable Sonny Pcrdue, Governor Members of the General Assembly Members ofthc State Board of Educalion 
and Supenntcndent and Members of the ColqUItt County Board of Educalion 
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL-PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATIONSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 
Ladles and Gentlemen 
We have audited the accompanYIng general-purpose financial statements of the Colquitt County Board of Education, as of and for the year ended Junc 30, 2002, as listed In the table of contents These general-purpose finanCIal statements are the responsibility of the ColqUItt County Board of EducatIOn's management Our responsibility IS to express an opInIOn on thcse general-purpose financial statements based on our audIt 
We conducted our audit In accordance with audlling standards generally accepted m the Umted States ofAmenca and the standards applicable to financIal audits contaIned m Government Audltmg Standards, Issued by the Comptroller General of the Umted States Those standards requIre that we plan and perform the audIt to obtaIn reasonable assurance about whether the finanCial statements are frce ofmatenal misstatement An audit Includes examInIng, on a test basIS, eVIdence supponmg the amounts and disclosures In the finanCial statements An audit also mcludes assessmg the accountmg pnnclples used and SignIficant eslimates made by management, as wcll as evaluatmg thc overall finanCIal statement presentalion We believe that our audit proVides a reasonable basIS for our opInIOn 
As descnbed In the notes to the general-purpose finanCIal statements, the Board of Educatlon's finanCial statements have been prepared USIng certam accountmg pracliccs and poliCIes whIch. m our OpInIOn, vary In some respects from genenilly accepted accountmg pnnclples These vanances are descnbed as follows 
 
2002ARL-13 
 
  The general-purpose fmanclal statements of the Board of EducatIOn did not contain a General Fixed Assets Account Group to account for propcrty and equipment owned by the Board of EducatIOn which should be mcluded to confonn to generally accepted accounting pnnclples 
 School aclivlty accounts mamtamed at the mdlvldual schools are not mcluded In the general-purpose financial statements To conform to generally accepted accountmg pnnclples, these accounts should be mcluded m the general-purpose financial statements 
 The Board of Educalion did not recogmze as expenditures, m the year ended June 30,2002, a portIOn of salanes and the correspondmg employer's cost of related benefits earned for contractual services completed pnor to June 30, 2002 Also funds received, subsequent to June 30, 2002, from the Georgia Department of EducatIOn for the State's share of these unrecorded salanes and related benefits wcre not recorded as revenue m the year under review Conversely, the similar expenditures and related revenues for contractual services completed pnor to June 30,2001, were Impropcrly recorded m the year ended June 30, 2002 To conform to generally accepted accountmg pnnclples, revenues should be recorded when aVailable and measurable and expenditures should be recorded when mcurred, rather than when funds are received or disbursed. 
The aggregate effects on the general-purpose finanCial statements of these vanances or omiSSIOns have not been determmed, but are believed to be matenal 
In our opuuon, except for the effects on the general-purpose finanCial statements of the matters referred to m the precedmg paragraph, the general-purpose finanCial statements referred to above present fairly, m all matenal respects, the finanCial pOSitIOn of the ColqUitt County Board of EducatIOn as of June 30, 2002, and the results of ItS operallons and the cash flows of ils Internal Service and nonexpendable trust funds for the year then ended, m conformity With accountmg pnnclples generally accepted In the Umted States of Arnenca 
In accordance With Government Audltmg Standards, we have also Issued our report dated Apnl 18, 2003, on our consideratIOn of the ColqUitt County Board of Educallon's Internal control over finanCial reportmg and our tests of Its compliance With certam prOVISions of laws, regulalions, contracts and grants That report IS an mtegral part of an audit performed m accordance With Government Audltmg Standards and should be read m conJunclion With tlus report m consldenng the results of our audit 
Our audit was performed for the purpose of formmg an opmlOn on the general-purpose finanCial statements of the Colqwtt County Board of EducatIOn taken as a wholc The accompanYing combining statements (Exhibits G through L) and the finanCial schedules (Schedules I through 5), which mcludes the Schedule of Expenditures of Federal Awards as reqUired by U S Office of Management and Budget Circular A-133, AudIts of Slales, Local Governments, and Non-Profit OrgamzatlOns, are presented for purposes of addllional anaJYSls and are not a rcqUired part of the 
2002ARL-13 
 
 general-purpose financial statements Such mfonnatlon has been subjected to the audItmg procedures applied 10 the audit ofthe general-purpose finanCial statements and III our opnuon, except for the effects of the matters referred to 10 the third paragraph, such mfonnalIon IS faIrly stated, 10 all matenal respects, 10 relation to the general-purpose finanCIal statements taken as a whole 
A copy ofthls report has been filed as a pennanent record 10 the office ofthe State Auditor and made avmlable to the press of the State, as proVided for by OffiCIal Code ofGeorgIa Annotated SectIOn 506-24 
Respectfully submItted, 
~.~ 
Rus ell W Hmton Stat Auditor 
RWHas 2002ARL-13 
 
 COLoum COUNTY BOARD OF EOUCATION 
 
 ~ ------------------- 
 
COLQUm COUNTY BOARD OF EpUCATION COMBINED BALANCE SHEET 
ALL FUNp TYPES ANpACCOUNT GROUp 
JUNE 30 2002 
 
~ Cash end cash EqUivalents 
Investmonts 
Accolmts Rl!C8lvabie 
1nven1c.... Food Donated Commodities P=hased Food 
Amount AvaHable In Capltal ProIects Fund 
Amount AvaUable In Debt Sel'VlC8 Fund 
Amount to be Pl'OVIded In Future Years For Payment of" Bond Debt Caprtalleaae Agreement 
Total Assets 
 
GENERAL FUND 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
$ 
 
222,1-4302 $ 
 
309 9't9 50 $ 
 
49270404 62 $ 
 
4,231,16760 
 
7534 634 07 
 
916,14135 
 
140,Q7520 
 
14 000 00 
 
DEBT SERVICE 
FUND 
7,704339356 
741,89814 
 
2260247 9451 34 
 
$ 5,3e9,451 97 $ 1 082,97881 $ B04137869 $ 848529170 
 
LIABILITIES AND FUND EQUITY 
llABlLmES 
Accoums Payable Salanos Payable Explred Grant Balances Payable Claims Payable Contra"" Payable Retalnages Payable Deterred Revenue Caprtallease Agreements GMeral ObhgabOn Bonds Payable 
Total lJabIhtu!ls 
FUND EQUITY 
Retained EarnIngs Unreserved 
Fund Balances R_ For Bus Replacement Funds 
For Cllpltal ounay 
For Debt Service 
For Encsa.wment Corpus For Inventone8 
Food Donated CommodrtJes Purchased Food 
For Purpose of Bond Isaue Unreserved 
DesIgnated fo1 SefI-lnsW'ance Undeslgnated 
Total Fund EqUity 
 
$ 
 
8 .....530 $ 
 
16531053 $ 
 
27520 00 
 
732866 53 
 
23,85723 
 
64228339 12915345 
 
$ 
 
8,44530 $ 
 
922,034 29 $ 
 
79895684 
 
$ 
 
11423388 
 
$ 480500000 1357,35002 $ 848529170 
 
$ 
72 16393 5,1741.609 08 $ 5361,006 67 $ 
 
22 602 34 9451 34 
 
50506010 
 
128890 84 160 944 52 $ 
 
575,011 73 7,24242185 $ 
 
000 8.485,291 70 
 
TotallJabllWes and Fund Equrty 
 
$ 5369451 g7 $ 11082 1g7881 $ 
 
The notes k> the general-purpose finanoal statement! ere an ll'l1egral part of this stllement 
 
8.041 37869 $ 
 
8AS5 29170 
 
- 2- 
 
 EXHIBIT "A" 
 
PROPRIETARY FUND TYPE INTERNAL 
SERVlCE FUND 
 
FIDUCIARY FUND TYPES TRUST FUNDS 
 
$ 
 
250617 OB $ 
 
12136 36 
 
Q54,3&4 18 
 
,n,450 92 
 
H444 
 
ACCOU"'- GROUP GENERAL 
LONG-TERM DEBT 
 
TOTALS 
 
tMemollIndum Only) 
 
JUNE 30, 2002 
 
JUNE 3D, 2001 
 
$ 9 030 Sa.. 44 $ 5558 BtB ~ 
 
n 12 BB7,636 
 
11,559,76844 
 
241348" 13 
 
2 539 588 71 
 
S 
 
1 35735002 
 
848529170 
 
22 602 47 9,451 34 
1,357350 02 
84852'" 70 
 
20 487 28 1379049 
7,29974736 
 
1 469708 30 3,95',20336 
 
146" 708 30 3951,20336 
 
5 400 252 &4 417,97890 
 
$ 1205001 26 $ 
 
190,06172 S 
 
1~ 263,553 38 $ 39837717 53 $ 32810,41276 
 
$ 
 
71468 13 
 
$ 
 
71,48B 13 
 
S 
 
201,27~ 83 $ 
 
1042487 ", 
 
732 B68 53 
 
648,76212 
 
2385723 
 
71241e 
 
71,48813 
 
18 354 10 
 
642283 39 
 
238,26024 
 
12915345 
 
5953279 
 
3617 
 
$ 
 
5 30B 553 38 
 
5308,553 38 
 
417 978 90 
 
9"155,000 00 
 
9,95500000 
 
12,700,00000 
 
$ 
 
s 1526355338 $ 17.064,4n 94 
 
14,230 536 39 
 
$ 1,133,51313 
 
S 
 
75000 00 
 
000 $ 1 13351313 $ 
 
115,06172 190 06172 
 
S 1,13351313 $ 1 158,62859 
 
114233 Be 
.. 805 ooa 00 
9 &42,64172 
7500000 
 
"362336 
7 2eg 747 36 75000 00 
 
22 802 34 9,45134 
505 OBO '0 
 
2046728 13790 49 '" 647 948 01 
 
72,163 Q3 5,993,57337 
 
7370593 5 H16,965 35 
 
S 22,573 :239 59 S 18,579,67637 
 
26 $ 1,205,001 $ 
 
190,06172 $ 
 
15263553 38 $ 3983771753 $ 3281041276 
 
-3- 
 
 COLQUITT COUNTY BOARO OF EOUCATION COMBINED STATEMENI OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 
ALL GOVERNMENIAL FUND TYPES AND EXPENDABLE TRUST FUNDS YEAR ENDED JUNE 30 2002 
 
REVENUES 
State Funds Federal Funds Taxes Other Funds 
Total Revenues 
EXPENDITURES 
Cull1!lnt InBlrudlon Support serviceS Pupil SeJVIces Improvement of Instructlonal Services Educational Media Services General Admlnistrahon School Administration Business AdmlnlstratkJn Maintenance and Operal.Jon of Plant Student Transportation Services Central Suppon services Other Support SeJVIces Food Servtcas Operation Enterprise Operations Community Services Operations 
Ceprtal Outlay DebtSeIVlC8 
PnnClpal Interest Peyng Agent Fees 
Total Expenditures 
Excess of Revenues over (under) Expendrtures 
OTHER FINANCING SOURCES IUSES) 
Capital leases 
Operal..IIlg Transfers In Operating Transfers Out 
Total Other Flnandng Sources (Uses) 
Excess of Revenues and Other Fanandng Sources over (under) expenditures and other Flnandng Uses 
FUND BALANCE JULY 1 
Food Inventory - Net Change In Panod Donated Commochbes Purchased Food 
 
GENERAL FUND 
 
GOVERNMENTAL FUND 
 
SPECIAL 
 
CAPITAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
$ 40,61091919 $ 
9,759,08714 521,90317 
 
2,251,074 78 $ 7,360 643 94 
963,56804 
 
$ 50,891 ,88950 $ 10,575,286 78 $ 
 
140,000 00 
286,00828 426,00828 
 
$ 33,502 729 93 $ 
1,686,11004 941 97063 
1 22534712 344 14842 
3,11557493 860,284 20 
4,815,03B7 2,080,238 73 
278,84234 97,441 88 
108,89732 1864007 
89,83917 19,91877 
 
5,208,849 52 
526,26905 542,18510 
1,51891 408,681 63 
99600 $ 
7000790 12,43235 
339204 40,98590 3,753,201 32 
71,244 26 
19,58635 204708 
 
195000 00 444006251 
 
$ 48,785,017 10 $ 10,657,39541 $ 4,635,06251 
 
S 2,128,87240 S 
 
-82,108 65 S -4.209,054 23 
 
S S -823,11110 
S -823,11110 S 
 
S 89,41951 
 
5,000,000 00 733,691 59 
 
89,41951 S 5,733,691 59 
 
S 1,303,781 30 S 4.057.24537 
 
7,31086 S 155,83762 
 
1.524,637 36 5717,784 49 
 
2,13519 -4,33915 
 
FUND BALANCE JUNE 30 
 
$ 5.361.006 67 S 
 
The notes to the general-purpose financial statements are an Integral part of this statement -4- 
 
160,944 52 S 7,242,421 85 
 
 EXHIBIT "8" 
 
TYPES DEBT 
SERVICE FUND 
 
TOTAL 
 
FIDUCIARY FUND TYPE EXPENOABLE TRUST FUNOS 
 
TOTALS 
 
(Memorandum Only) 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 43001,99397 
 
7,360,643 94 
 
$ 4,218,094 11 
 
13,9n 161 25 
 
154,75273 
 
1,926.232 22 $ 
 
$ 4.372,646 84 S 86,266,031 38 S 
 
$ 4,098 92 
 
43001,99397 S 7,360 643 94 13,977,16125 1,930,33114 
 
39,447,59939 6,060,05228 13897,471 16 2,559,05045 
 
4.09892 $ 66,270,130 30 $ 81,964,173 28 
 
S 38709,57945 
 
221237909 1,464,15573 1,228,864 03 
750 830 05 $ 311657093 
855,284 20 4,68504347 2,07266908 
282,234 38 138,42776 3,862,09864 
18,64007 71,244 26 4,44006251 
 
$ 2,745,000 00 441,m50 53000 
 
2,854,425 52 46373835 53000 
 
$ 3,187,302 50 S 67,244,m 52 $ 
 
S 1,185,544 34 S -979,74614 $ 
 
$ 38,709,57945 S 36 020,888 47 
 
399925 
 
2,21237909 1,484,155 73 1,226,864 03 
754 829 30 3,11657093 
855,284 20 4,685,04347 2072,86908 
282234 38 138,42776 3,862,09864 
18,64007 71 244 26 444006251 
 
1,991,97951 1,004,48512 1,185,16594 
84973280 2,93235641 
562,29902 4625,19123 2112,15534 
17390357 135,76771 3,604,530 39 
15,86720 60,550 33 536632529 
 
2,854,425 52 463738 35 53000 
 
2148,177 70 563,164 55 54000 
 
3,999 25 $ 67,248,77677 $ 63,353,080 58 
 
9967 $ 
 
-978,64847 S -1,388,907 30 
 
S 5000,00000 82311110 -823,11110 
S 5,000,00000 
 
$ 1,185,544 34 S 4,021,25386 $ 
 
7,299 747 36 
 
17,230,814 84 
 
213519 --4,33915 
 
$ 5,000000 00 $ 82311110 -823,11110 
$ 5,000,000 00 $ 
 
3738000 886 052 53 -939,17949 
-215,74898 
 
9967 S 4021,35353 S -1 804,654 26 
 
77,97580 
 
17,308,590 64 
 
18,918,52042 
 
213519 --4,33915 
 
-7,50591 2,230 39 
 
$ 8.485,291 70 $ 21 ,249,664 74 $ 
 
78,07547 S 21[327.74021 S 17,308,59064 
 
- 5- 
 
 COLQUm COUNTY BOARD Of EpUCATION COMBINEP STATEMENT Of REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES 
BUDGET AND ACTUAl. - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE fUNPS 
YEAR ENDED JUNE 30 2002 
 
EXHIBIT"C" 
 
GENERAl FUND 
 
BUDGET 
 
ACTUAL 
 
REVENUES 
State funds Federal funds Taxes Other funds 
Total Revenues 
EXPENPITURES 
 
S 39488,756 15 S 40,810,91919 
 
922423200 48300000 
 
975906714 521 903 17 
 
S 49175,98815 S 50,891,88950 
 
Current Instrucbon Support SeMces PUpil Services 
Improvement of InstruetJonal 5eMces Educabonal Media Servlcel 
General Adm1rustratJon SChool NJrTUIllstrabOn BUSiness NJmJntstratJon MCIlntenance end OperabOn of Plant Student TranaportBbOn ServICeS Central Support SeMce. Other Support semcos food $efVIalS Operabon EnlllfJl"S8 Oporabon. Community ServIces OperatIOns Capllal Outlay Deb! SeNICe 
Total E.xpendrtures 
Excess of Revenues over (1IKIer) Expendrtures 
OTHER FINANCING SOURCES (USES) 
 
S 33 338,557 90 S 33502729 93 
 
1,72361322 105348833 119899454 
34148734 298523396 
&44 526 20 4,731677 97 2015,23034 
21577014 96 054 78 93963 SO 
 
1,688,11004 94197063 
122534712 344 14842 
311557493 660 284 20 
4,61503557 2,060,236 73 
27884234 9744186 
108 897 32 1864007 
 
77 895 29 
 
109 757 94 
 
S 48,71649349 S 48765017 10 S 459494 66 S 2126,872 40 
 
Other Sources other Uses 
Total Other Fnancmg Sources (Uses) 
 
S -217 273 88 S -823,11110 S -217,27388 S -823,11110 
 
Excess of Revenues and Other Fnanang Sources over (under) Expenditures end Other Fmanang Use! S 
 
24222078 S 1,30376130 
 
FUND BALANCE JULY 1 2001 
 
431975256 
 
405724537 
 
Food Inventory - Net Change In Penod Donated CommochtJes Purchased Food 
 
FUND BALANCE JUNE 30 2002 
 
S 4,56197334 S 5136L006 67 
 
SPECIAL REVENUE FUND 
 
BUDGET 
 
ACTUAL 
 
S 1,759,23384 S 2,25107478 
 
637069381 
 
7360 643 94 
 
959,00000 
 
963,568 04 
 
S 9,088,927 65 S 10,575,286 76 
 
S 4428,42741 S 5206,84952 
 
43394420 208,22700 
1 00000 41514909 
1 000 00 
 
529 299 05 54218510 
1 51891 406 68163 
996 00 
 
5751500 17,89803 1000000 45,364 73 349313237 
 
7000790 12,43235 
339204 4098590 3753201 32 
 
5705522 
 
71,24426 
 
21 63343 
 
S 9168 713 05 S 10,657,39541 
 
S -7978540 S -8210865 
 
S 9313000 S 
 
8941951 
 
S 93,13000 S 
 
89,41951 
 
S 1334460 S 221 743 18 
 
731086 155,83762 
 
2 135 19 -4,33915 
 
S 23518778 S 1601944 52 
 
The notes to the generIIl-purpose ftnal1Cl8t statements are 8n lll1.egraJ part of Un statement -7- 
 
 COLQUln COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGSIFUND BALANCES 
PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND FIDUCIARY FUND TYPE - NONEXPENDABLE TRUST FUNDS 
YEAR ENDED JUNE 30 2002 
 
OPERATING REVENUES 
Charges for Services 
OPERATING EXPENSES 
Current Support Services Admll'llslrabon Scholarships Wor1<ers' CompensaIJon Claims 
Total Operabng Expenses 
Operating Income (Loss) 
NONOPERATING REVENUES (EXPENSES) 
Interest Earned 
Net Income (Loss) Before Operabng Transfer 
OpERATING TRANSFERS IN 
Transfers From Other Funds 
Net Income (Loss) for the Year 
RETAINED EARNINGS! FUND BALANCE JULY 1 
 
PROPRIETARY FUND TYPE INTERNAL SERVICE FUND 
 
FIDUCIARY FUND 
 
NONEXPENDABLETRUST 
 
CLASS OF 19BB 
 
MCKEE 
 
SCHOLARSHIP 
 
SCHOLARSHIP 
 
FUND 
 
FUND 
 
$ 
 
360,64929 $ 
 
000 $ 
 
000 
 
$ 
 
133,73274 
 
$ 
 
273,78968 
 
$ 
 
407,52242 $ 
 
$ 
 
-46,87313 $ 
 
383 BB $ 
383BB $ -383 BB $ 
 
1,56752 
1,56752 -1,56752 
 
21,75767 
 
$ 
 
-25,11546 $ 
 
25596 -12792 $ 
 
2,090 30 522 78 
 
$ 
 
-25,11546 $ 
 
1,158,62859 
 
-12792 $ 6,40926 
 
52278 5234226 
 
RETAINED EARNINGS! 
 
FUND BALANCE JUNE 30 
 
$ 
 
6,281 34 $ _ _..;5;;:;2o,;;,865=-;;;;04~ 
 
The notes to the general-purpose finanCIal statements are an Integral part of thiS statement -8- 
 
 EXHIBIT "D" 
 
TYPE 
FUNDS ODOM 
SCHOlARSHIP FUND 
 
TOTALS 
 
(Memorandum Only) 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
000 $ 
 
360,649 29 $ _ _~86~,586=",64!... 
 
$ 
 
133,73274 $ 
 
106,18193 
 
$ 
 
3,199 00 
 
5,150 40 
 
4,790 62 
 
273,78968 
 
38,51883 
 
$ 
 
3,199 00 $ 
 
412,672 82 S 
 
149,491 38 
 
$ 
 
-3,199 00 $ 
 
-52,02353 $ 
 
-62,904 74 
 
2,13325 
 
26,23718 
 
64,63808 
 
$ 
 
-1,06575 $ 
 
-25,786 35 $ 
 
1,733 34 
 
253,12696 
 
$ 
 
-1,06575 $ 
 
-25,786 35 S 
 
254,86030 
 
53,90562 
 
1,271,285 73 
 
1,016,425 43 
 
$ 
 
52:83987 $ 1,245,499 38 $ 1:271,285 73 
 
-9- 
 
 COLQUITT COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF CASH FLOWS 
PROPRIETARY FUND TYPE -INTERNAL SERVICE FUND FIDUCIARY FUND TYpE - NONEXPENDABLE TRUST FUNDS 
YEAR ENDED JUNE 30 2002 
 
Gash Flows from Operating AclJvlbes Cash Recetved from Contnbubons to Self-Insurance Employee Benefits Cash Paid for AdministratiVe Costs Cash Paid for Scholershlps Cash Paid for Worke(s Compensation Clallns 
Net Cash Provided (Used) by Operabng AclJvlbes 
Cash Flows from Noncaprtal FinanCing AclJvrtles Operabng Transfers-In from Other Funds 
Net Cash ProVided (Used) by Noncaprtal Financing AclJvrtJes 
Cash Flows from Invesbng AclJVIbes Interes! ReceiVed on Investments PurchaseJSale of Investments (Net) 
Nat Cash ProVided by Investment ActlvrtJes 
Net Increase (Decrease) In Cash 
Cash and Cash EqUivalents - July 1 
Cash and Cash EqUiValents - June 30 
 
PROPRIETARY FUND TYPE INTERNAL SERVICE FUND 
 
FIDUCIARY FUND 
 
NONEXPENDABLE TRUST 
 
CLASS OF 1988 
 
MCKEE 
 
SCHOLARSHIP 
 
SCHOLARSHIP 
 
FUND 
 
FUND 
 
$ 
 
360,64929 
 
-133,73274 
 
$ 
 
-220,65565 
 
$ 
 
6,26090 $ 
 
-38388 $ 
 
-1,56752 
 
-363 88 $ 
 
-1,56752 
 
$ 
 
000 $ 
 
$ 
 
000 $ 
 
$ 
 
21,75767 $ 
 
-21,75777 
 
$ 
 
-010 S 
 
$ 
 
6,26060 $ 
 
$ 
 
244,356 28 $ 
 
000 $ 000 $ 26530 $ 
 
000 000 2,166 52 
 
26530 $ -11858 $ 38388 $ 
 
2,166 52 59900 
3,13503 
 
$ 
 
250,617 08 $ 
 
265 30 $ _ _....::3..:.?::;34:.,:0:::.,3 
 
RaconClhabon of Operating Incoma to Net Cash ProVIded (Used) by Operabng AclJvrtles Operating Income (Loss) Increase (Decrease) In Cla,ms Payable 
 
$ 
 
-46,873 13 $ 
 
53,13403 
 
-38388 $ 
 
-1 56752 
 
Net Cash Provided (Used) by Operabng Activities 
 
$ 
 
6 26090 $ 
 
1 
 
-383 88 $ _ _...;.-1.56=7,;:52:;, 1 
 
The notes to the geneml-purpose finanCial statements are an Integral part of thiS statement - 10  
 
 EXHIBIT"E" 
 
TYPE FUNDS 
ODOM SCHOLARSHIP 
FUND 
 
TOTALS 
 
(Memorandum Only) 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
360,64929 $ 
 
86,58664 
 
-133,73274 
 
-106,18193 
 
$ 
 
-3,199 00 
 
-5,15040 
 
-4,79062 
 
-220,65565 
 
-54,63732 
 
$ 
 
-3,199 00 $ 
 
1,11050 $ 
 
-79,02323 
 
$ 
 
000 $ 
 
000 $ 
 
253,12696 
 
$ 
 
000 $ 
 
000 $ 
 
253,12696 
 
$ 
 
2,21073 $ 
 
26,40022 $ 
 
64,83203 
 
-11073 
 
-21 ,86850 
 
5,558 95 
 
$ 
 
2,10000 $ 
 
4,53172 $ 
 
70,390 98 
 
$ 
 
-1,09900 $ 
 
5,64222 $ 
 
244,494 71 
 
$ 
 
3,694 16 $ 
 
251,56935 $ 
 
7,07464 
 
$ 
 
2,595 16 $ 
 
257,211 57 $ _ _.,:;2,::,51.:.,.:::56;;:9;,;3:;:,5 
 
$ 
 
-52,02353 $ 
 
~2,904 74 
 
53,13403 
 
-16,11849 
 
$ 
 
1,110 50 $ 
 
-7;,;9;,;,0_2~3~2.3. 
 
- 11 - 
 
 COLOUITT COUNTY BOARD OF EOVCAnON 
 
EXHIBIT "F" 
 
NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Notc I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
REPORTING ENTITY 
The ColqUitt County Board of Educalion (School OIStnCt) was estabhshed under the laws of the State of Georgia and operates under the glUdance of a school board elected by the voters and a Supenntendent appomted by the Board The School Dlstnct IS organized as a separate legal entIty and has the power to levy taxes and Issue bonds Its budget IS not subject to approval by any other enlity. AccordIngly, the School Dlstnct IS a pnmary government and consists of all the orgaruzalions that compose Its legal enlity. 
FUND ACCOUNTING 
The School Dlstnct uses funds and an account group to report on ItS finanCial posllion and the results of Its operalions Fund accountmg IS designed to demonstrate legal complIance and to aid finanCial management by segregatmg transactions related to certam governmental functlons or actiVities A fund is a separate accountmg enlity With a self-balancmg set of accounts An account group IS a finanCial reportIng deVice deSigned to proVide accountablhty for certain assets and hablhtles that are not recorded m the funds because they do not dIrectly affect expendable avaIlable fmanclal resources 
General Fixed Assets are recorded as expenditures m the vanous funds at the time of purchase A General Fixed Assets Account Group IS not presently mamtamed by the School Dlstnct To conform to generally accepted accountmg pnnclples, a General Fixed Assets Account Group should be mamtamed for reportmg the cost of assets acqUired by governmental fund types 
Although "school actiVity accounts" are maintained at the mdlvldual schools, neither the assets, hablhlies and fund equity, nor the revenues, expenditures and changes m fund balances of these accounts are reflected m these finanCial statements To conform to generally accepted accountmg pnnclples, these accounts should be recorded m the general-purpose finanCial statements 
The general-purpose finanCial statements account for all State, Federal, Taxes and Other funds under control of the School DIStnCt, m comphance With generally accepted accountmg pnnclples apphcable to governmental units, unless otherwise disclosed m these notes Funds and the account group presented In thiS report are as follows 
GOVERNMENTAL FUND TYPES - are used to account for all or most of the School Dlstnct's educalional activIties GovernmentaJ Fund Types mclude 
GENERAL FUND - the fund used to account for all finanCial resources of the School District except those reqUired to be accounted for m another fund These transactIOns relate to resources obtamed and used for services prOVided by a board of education 
 
- 13- 
 
 COLOUITT COUNTY BOARD OF EDUCATION 
 
EXHIBIT "r" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note I' SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capItal proJects) that are legally restncted to expenditures for specIfied purposes These funds are received pnmanly from the GeorgIa Department of EducatIon and from the Federal goverrunent to accomplish specific educatIonaJ objectIves 
CAPITAL PROJECTS FUND - the fund used to account for financlaJ resources to be used for the acquIsItIon or constructIon of major capital facIlItIes 
DEBT SERVICE FUND - the fund used to account for the accumulatIon ofresources for, and the payment of, general long-term pnnclpaJ, Interest and paYIng agent fees 
PROPRIETARY FUND TYPE - the fund used to account for actiVItIes of the School Dlstnct Similar to those found In the pnvate sector, where cost recovery and the determInatIon ofnet Income IS useful or necessary for sound fiscal management. Internal service funds are a type ofpropnetary fund and are used to account for operatIons on a cost reImbursement basIS that provide servIces to other funds or programs of the School Dlstnct 
INTERNAL SERVICE FUND - the fund used to account for Workers' CompensatIOn contnbutlOns and expenditures 
FIDUCIARY FUND TYPES - the funds used to account for assets held by a government UnIt In a trustee capacity or as an agent for IndiViduals, pnvate organIzatIons, other government UnItS and/or other funds These funds Include 
NONEXPENDABLETRUSTFUNDS Class of 1988 Scholarship Fund and McKee Scholarship Fund - the funds used to account for an endowment of wluch the corpus IS to be Invested and preserved Intact With the resultant Income to be used to prOVIde scholarshIps to graduatIng senIors of thc ColqUItt County High School 
Odom Scholarship Fuud - the fund used to account for an endowment of which the corpus IS to be Invested and preserved Intact With the resultant Income to be used to proVIde scholarships to graduatIng senIors of the ColqUItt County High School and awards to be made to fifth graders at Jack Mack Odom Elementary School 
EXPENDABLE TRUST FUNDS Demott Scholarship 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 
 
- 14- 
 
 COLOUITT COUNTY BOARD OF EDUCATION 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
ACCOUNT GROUP 
GENERAL LONG-TERM DEBT ACCOUNT GROUP - A financial reportmg device used to account for general obligation debt outstandmg and capital lease obligatIOns 
BASIS OF ACCOUNTING 
The accounting and financial reportmg treatment applied to a fund IS deterrmned by Its measurement focus All governmental and expendable trust funds are accounted for usmg a current financial resources measurement focus With this measurement focus, only current assets and current liabllines generally are mcluded on the balance sheet Operatmg statements of these funds present mcreases (I e., revenues and other financmg sources) and decreases (I e , expendilures and other financmg uses) 10 net current assets Thelf 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 10 the governmental funds. Other liabllitlcs, which are not expected to be financed from aVailable spendable resources, are reported 10 the General Long-Term Debt Account Group 
All propnetary and nonexpendable trust funds are accounted for on a flow of economic resources measurement focus With thiS measurement focus, all assets and liabllitlcs associated With the operation of these funds are mcluded on the balance sheet Operatmg statements present mcreases (e g , revenues) and decreases (e.g, expenses) 10 net total assets 
Governmental and expendable trust funds are accounted for usmg the modified accrual basiS of accountmg under which 
Revenues are recognized when susceptible to accrual (I.e, when they become both measurable and aVailable) "Measurable" means the amount of the transaction can be determmed and "aVailable" means collectible wlthm the current penod or soon enough thereafter to be used to pay liabilities of the current penod The School Dlstnct conSiders receivables collected wlthm sixty days after yearend to be available Property taxes, sales taxes and mterest arc conSidered to be susceptible to accrual Nonexchange transactions, 10 wluch the School Dlstnct gives (or receives) value Without dIrectly recelvmg (or glvmg) equal value In exchange, Include property taxes, local option sales taxes, Intergovernmental grants and donations Revenue for property taxes IS recognized In the fiscal year for which the taxes are leVIed Revenue from sales taxes IS recognized In the fiscal year the resources are received or susceptible to accrual Revenue from grants and donations IS recognized 10 the fiscal year In which all eligibility requlfements have been satisfied 
Expenditures are generally recognized when the related fund liability IS Incurred 
 
- 15 - 
 
 COLQUlrr COUNTY BOARD OF EDUCATION 
 
EXHffiIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
A departure from the above definitIons IS the accountmg treatInent afforded the final two payments on General Fund teachers' and bus dnvers' contracts, and the resources aVailable from the GeorgIa Department of Education for the State's share of these contracts. Dunng fiscal year 2002, a substantIal number ofpersonnel of the School DIstrict were employed for a one hundred and ninety day penod begInnmg m August 2001 and endmg m early June 2002 Personnel contracts for thiS employment penod specify that compensatIon be paid m twelve equal monthly payments begInmng in September 2001 and ending m August 2002 State grants to fund the State's share of these contracts were disbursed from the GeorgIa Department of Education to the School Dlstnct m the same twelve months As of June 30, 2002, compensation under these employment contracts had been earned, but two ofthe twelve monthly payments, due for July and August 2002, had not been made Payments for these two months were made and recorded as expendlt1lres by the School Dlstnct subsequent to June 30, 2002. Also, the State's portIon ofthe compensatIOn paid m July and August 2002 was received and recorded as revenue m the fiscal year subsequent to June 30, 2002 Conversely, the Similar expenditures and related revenues for contractual ServIces completed pnor to June 30, 2001, were recorded m the year ended June 30, 2002 Generally accepted accountmg pnnclples require that revenues be recorded when aVailable and measurable and that cxpendlt1lres be recorded when mcurred, rather than when funds are received or disbursed. 
The accrual basiS of accountIng, as requIred by generally accepted accountmg pnnclples, IS utIlIzed by propnetary and nonexpendable trust funds Under the accrual basiS of accountIng, revenues are recorded when earned and expenses are recorded at the time lIabilIties are Incurred. 
BUDGET 
The ColqUitt County Board of Education's budget IS a complete finanCial plan for the School Dlstnct's fiscal year and IS based upon estimates of expenditures together With probable fundIng sources There IS no statutory prohibition regardIng overexpendlture ofthe budget at any level The budget for all governmental funds IS prepared by fund, functIon and object The legal level of budget control was estabhshed by the Board at the aggregate level Propnetary fund budgets were prepared and utlhzed as a management tool to assess the operatIons of the mternal service funds The budget for governmental funds was prepared on a basiS other than generally accepted accountIng pnnclples. 
The budget process begins when the School Dlstnct'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 of general circulatIOn In the localIty. At the next regular meetmg of the Board after advertisement, the Board receives comments on the tcntatlve budget, makes rcvlslOns as necessary and adopts a final school budget Tlus final budget IS then subnutted, In accordance With proVISIOns of the QualIty BasiC Education Act, OCGA SectIon 20-2-167(c), to the Georgia DepartInent of EducatIOn The Board may mcrease or decrease the budget at any time dunng the year. All unexpended budget authonty lapses at fiscal year-end 
 
- 16 - 
 
 COLQUTIT COUNTY BOARD OF EDUCATION 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note I SUMMARY OF SIGNIFICANT ACCOUNTING POLiCIES 
CASH AND CASH EQUIVALENTS 
COMPOSITION OF DEPOSITS Cash and cash eqUIvalents consIst ofcash on hand, demand deposIts and short-tenn mvestments WIth onglnal matuntIes of three months or less from the date of acqUIsItIOn In authonzed financIal mstltutlOns. Georgia Laws OCGA 45-8-14 authonze the School Dlstnct to depOSIt ItS funds m one or more solvent banks or Insured Federal savings and loan associatIOns 
INVESTMENTS 
COMPOSITION OF INVESTMENTS Investments made by the School Dlstnct In nonpartIcIpating interest-earning contracts (such as certIficates ofdepOSIt) and repurchase agreements are reported at cost ParticIpating Interest-eammg contracts and money market Investments wuh a matunty at purchase of one year or less are reported at amortIzed cost Both partIcIpating Interest-earrung contracts and money market Investments WIth a matunty at purchase greater than one year are reported at fair value The OffiCial Code of Georgia Annotated SectIOn 36-83-4 authonzes the School Dlstnct to Invest Us funds and In selecting among optIOns for Investment or among instItutIonal bIds for depOSItS, the hIghest rate ofreturn shall bc the obJectIve, gIven eqUlvalcnt condItIons of safety and hqUldlty Funds may be Invested In the follOWing 
(I) ObhgatlOns Issued by the State of GeorgIa or by other states, 
(2) ObhgatIons Issued by the Umted Statcs government, 
(3) Obhgahons fully Insured or guaranteed by the UOlted States government or a Umted States government agency, 
(4) Obhgahons of any corporatIOn of the Umted States government, 
(5) Pnme banker's acceptances, 
(6) The Local Government Investment Pool admlmstered by the State of Georglll. Office of Treasury and FIscal ServIces, 
(7) Repurchase agreements, and 
(8) ObhgatIons of othcr pohtIcal subdIVISIons of the State of GeorgIa 
RECEIV ABLES 
Recclvables consIst of grant reImbursements due on Federal, State or other grants for expendItures made but not reImbursed and other recclVables dIsclosed from mfonnatIon aVaIlable Recclvables 
 
- 17 - 
 
 COLOUIlT COUNTY BOARD OF EDUCATION 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note l' SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
 
are recorded when eIther the asset or revenue recogmtlOn cntena 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 2001 tax digest year (calendar year) on September 4, 2001 (levy date) Taxes were due on December 10,2001 (hen date). Taxes collected WltJun the current fiscal year or wlthm 60 days after year-end on the 200 1 tax digest are reported as revenue m fiscal year 2002 The ColqUitt County Tax CommIssIoner bIlls and collects the property taxes for the School DIStnCt, WIthholds 2.5% oftaxes collected as a fee for tax collection and remits the balance of taxes collected to the School Dlstnct Property tax revenues dunng the fiscal year ended June 30, 2002 for mlllntenance and operatIons amounted to $5,254,792 51. 
 
The tax mIllage rate leVIed for the 2001 tax year (calendar year) for the ColqUitt County Board of Education was as follows (a mIll equals $1 per thousand dollars of assessed value) 
 
School OperatIons 
 
.6..2 mills 
 
SALES TAXES 
 
Local OptIOn Sales Tax revenue dunng the fiscal year amounted to $4,371,067 27 and was recorded m the General Fund Local OptIon Sales Tax IS to be used for the mlllntenance and operatIOn of the School Dlstnct 
 
SpeCIal Purpose Local OptIon Sales Tax revenue dunng the year amounted to $4,218,094 11 and IS to be used for capital outlay for educatIonal purposes or debt service This sales tax was authonzed by local referendum and the sales tax must be re-authonzed at least every five years 
 
INVENTORIES 
 
FOOD INVENTORIES Inventones of donated food commodItIes uscd m the preparatIon of meals are reported on the Combmed Balance Sheet at their Federally asSigned value. Purchased foods mventones are reported on the Combmed Balance Sheet at cost (first-m, first-out) Donated food commodities are recorded as revenues and expendItures at the time commodity Items are received Purchased foods mventones are recorded as expenditures at the time of purchase The mventones reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which mdlcates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets 
 
- 18 - 
 
 COLOUfIT COUNTY BOARD OF EDUCATION 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
COMPENSATED ABSENCES 
Compensated absences represent obligations of the School Dlstnct relatmg to employees' nghts to receIve compensation for future absences based upon servIce already rendered ThIs obligatIOn relates only to vestmg accumulatmg leave m which payment IS probable and can be reasonably estImated No liabIlity has been recorded m the mdlVIdual funds for the current portIon of thIS obligation as thIS amount IS deemed Immatenal to the general-purpose financIal statements 
AddItionally, the dollar value of accumulated compensated absences at June 3D, wluch WIll be payable from future resources has not been recorded m the General Long-Tenn Debt Account Group as t1us liabIlity IS also deemed to be lffimatenal to the faIr presentatIOn of these financial statements. 
GENERAL OBLIGATION BONDS 
The School Dlstnct Issues general obligatIOn bonds to provIde funds for the acqUIsItion and constructIOn ofmajor capital facIlities Bond premIUms and diSCOunts, as well as Issuance costs, are recognIzed In the finanCIal statements dunng the year bonds are Issued General obligatIOn bonds are dIrect obligatIons and pledge the full faIth and credIt ofthe government The outstandmg amount of these bonds IS recorded In the General Long-Tenn Debt Account Group 
INTERFUND TRANSACTIONS 
The School Dlstnct has the follOWIng types of Interfund transactIons 
Reimbursements of expendItures/expenses InItially made from a fund that are properly applicable to another fund are recorded as expendItures/expenses In the relmbursmg fund and as reductIOns of expendItures/expenses m the fund that IS reImbursed. 
Operating transfers are recorded for all mterfund transactions other than reimbursements 
MEMORANDUM ONLY - TOTAL COLUMNS 
Total columns on the general-purpose financIal statements are captIoned "Memorandum Only" to IndIcate that they are presented only to facIlitate financIal analySIS Data In these columns do not present financIal pOSItIon, results of operatIOns or cash flows m confonnlty WIth generally accepted accountIng pnnclples NeIther are such data comparable to a consolidation lnterfund elimmatlons have not been made In the aggregatIon of t1us data 
 
- 19 - 
 
 COLQUITT COUNTY BOARD OF EDUCAnON 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
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 lime m any depository for a lime longer than ten days a sum ofmoney which has not been secured by surety bond, by guarantee of msurance, or by collateral The aggregate of the face value of such surety bond and the market value of secunlies pledged shall be equal to not less than 110 percent of the public funds bemg secured after the deduclion ofthe amount ofdeposit msurance Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe secunlies pledged to secure a pool of publIc funds shall be not less than 110 percent ofthe dmlypool balance. OCGA SectIOn 45-8-11(b) provides an officer holdmg publIc funds may, m his discretion, waive the reqUirement for secunty m the case ofoperatmg funds placed m demand deposit checkmg accounts. 
Acceptable secunty for deposits consists of anyone of or any combmatlOn of the followmg. 
(I) Surety bond Signed by a surety company duly qualified and authonzed to transact busmess 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 obllgalions of the United States or of the State of Georgia, 
(4) Bonds, bills, notes, certificates of Indebtedness or other oblIgalions of the counlies or muniCipalitIes of the State of Georgia, 
(5) Bonds of any public authonty created by the laws of the State of Georgia, proVIding that the statute that created the authonty authonzed the use of the bonds for thiS purpose, 
(6) Industnal revenue bonds and bonds ofdevelopment authontIes created by the laws of the State of Georgia, and 
(7) Bonds, bills, notes, certIficates of Indebtedness, or other oblIgalions of a subSidiary corporatIOn of the United States government, which are fully guaranteed by the United States government both as to pnnclpal and mterest or debt obligatIOns Issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal IntennedIate Credit Bank, the Central Bank for Cooperalives, the Farm Credit Banks, the Federal Home Loan Mortgage ASSOCiatIOn, and the Federal Nalional Mortgage AssociatIon 
CATEGORIZATION OF DEPOSITS At June 30, 2002, the bank balances were $12,430,85229 The amounts of the total bank balances are clasSified mto three categones of credit nsk 
 
- 20- 
 
 COLOUI1T COUNTY BOARD OF EDUCAnON 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL ST1\TEMENTS 
 
JUNE 30. 2002 
 
Note 2 DEPOSITS AND INVESTMENTS 
 
Category 1 - Cash that IS Insured (e g., Federal depoSitory Insurance) or collateralized With secuntles held by the School Dlstnct or by the School Dlstnct's agent In the School Dlstnct's name 
Category 2 - Cash collateralized With secuntles held by the pledgmg financial institution's trust department or agent In the School DIstnct's name 
Category 3 - Uncollateralized depOSits (ThiS Includes any bank balance that IS collateralized WIth secuntles held by the pledging financial institution, or by Its trust department or agent but not In the School DIStnCt'S name) 
 
The School Dlstnet's depOSits are clasSified by nsk category at June 30, 2002, as follows 
 
Risk Category 
 
Bank Balance 
 
1 
 
$ 338,14004 
 
2 
 
000 
 
3 
 
12,092,712.25 
 
Total 
 
$12.430.852.,22 
 
CATEGORIZATION OF INVESTMENTS Investments are clasSified as to nsk by the three categones descnbed below 
 
Category I - Insured or registered, or secuntles held by the School Dlstnct or the School Dlstnct's agent In the School Dlstnct's name 
Category 2 - Umnsured or unregistered, With secuntles held by the counterparty's trust department or agent In the School Dlstnct's name 
Category 3 - Uninsured or unregistered, With secuntles held by the counterparty, or by ItS trust department or agent but not In the School DIstnct's name 
 
At June 30, 2002, the carrytng value of the School Dlstnct's total Investments was $12,720,02583 which IS matenally the same as fau value The Investments are clasSified as to nsk categones as follows 
 
Type of Investment U S Government 
Local Govcmment Investment Pools Total Investments 
 
RIsk Catcgones 
 
2 
 
3 
 
CaIT)'lng 
Amount 
 
Fair Value 
 
$ I 357 190 00 $ 
 
000 S_ _.d!9O0W9/ S 1,357,19000 S \'357,190 00 
 
II 362,83583 11.362835 83 
S I2 720,025..83 $12 720 025 8.3, 
 
The carrying amounts shown above Includes amounts maintained In an Investment pool by the State of Georgia, Office ofTreasury and Fiscal Services In which the School Dlstnct owns no Identifiable secuntles. The Investment policy ofthe State ofGeorgia, Office ofTreasury and Fiscal ServiCes for 
 
- 21 - 
 
 COl .OUIIT COUNTY BOARD OF EDUCAnON 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Notc 2 DEPOSITS AND INVESTMENTS 
the Local Government Investment Pool (Pnmary LIqUIdIty Portfoho) does not provIde for Invcstment In denvatlves or SImIlar Investments A descnptlOn ofthe Pnmary LIqUIdIty Portfoho IS as follows 
The Pnmary LIqUIdIty Portfoho consIsts of Georgia Fund I, whIch IS a combinatIon local and state government Investment pool, and Fund 6 GeorgIa Fund I IS a stablc net asset value Investment pool which follows Standard and Poor's cntena for AAAm rated money market funds. The pool IS not registered WIth the SecuntIes and Exchange CommIssIon as an Investment company but does operate GeorgIa Fund I In a manner consIstent WIth Rule 2a-7 of the Investment Company Act of 1940 and IS conSidered to be a 2a-7 hke pool The pool's pnmary objectIves are safety of capItal, Investment Income, hqUldlty and diversIficatIon while maintaining pnnclpal ($1 00 per share value) Net asset value IS calculated weekly to ensure stablhty. The pool dlstnbutes earnings (net of management fees) on a monthly basiS and values parllclpant's shares sold and redeemed based on $1 00 per share Pooled cash and cash cqUlvalents and Investments are reported at cost whIch approxImates fair value Thc pool does not Issue any legally blndmg guarantees to support the value of tbe shares. PartICipatIon In the pool IS voluntary and depOSIts conSIst of funds from local governments, operating and trust funds of Georgia's state agencIes, colleges and unIversItIes; and current operating funds of the State of Georgia's General Fund 
Investments In Georgia Fund I and Fund 6 are duected toward short-term Instruments such as U S Treasury obhgatIons, secuntles ISSUed or guaranteed as to pnnclpal and Interest by the U S Government or any of ItS agencIes or InstrumentahtIes, banker's acceptances and repurchase agreements. The weighted average matunty of Gcorgla Fund I may not cxceed 60 days The weIghted average matunty for GeorgIa Fund I on June 30, 2002, was 0 12 years The average Investment duratIon for Fund 6 on June 30, 2002, was 0 75 years 
Note 3 NON-MONETARY TRANSACTIONS 
The School Dlstnct receIves food commodItIes from the Umted States Department of Agnculture (USDA) for school breakfast and lunch programs These commodItIes are recorded at theu Federally asSIgned value See Note 1 - Inventories 
Note 4 RISK MANAGEMENT 
Thc School Dlstnct IS exposed to VariOUS nsks of loss related to torts, theft of, damage to, and destruclion of assets, errors or omiSSIOns, Job related Illness or InJunes to employees, acts of God and unemployment compensatIon 
The School Dlstnct pamclpates In the Geoqpa School Boards ASSOCiatIOn RIsk and Insurance Management System, a pubhc entIty nsk pool orgamzed on July I, 1994, to develop and admmlster a plan to reduce nsk of loss on account of general hablhty, motor vchlcle hablhty, or property damage, including safety englneenng and other loss preventIon and control techmques, and to adminIster one or more groups of self-Insurance funds, including the processing and defense of 
- 22 - 
 
 COLoum COUNTY BOARD OF EDUCATION 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note 4 RISK MANAGEMENT 
 
claims brought against members ofthe system The School Dlstnct pays an annual premIUm to the system for Its general Insurance coverage Addllional coverage IS provided through agreements by the system with other companlCS accordmg to their specialty for property, bOiler and machmery (mcludmg coverage for flood and earthquake), general hablhty (mcludmg coverage for sexual harassment, molestalion and abuse) and automobIle nsks Payment of excess msurance for the system vanes by hne of coverage. 
 
For the current fiscal year, due to the costs of available coverage, the School Dlstnct slgruficantIy reduced coverage for acts of God. 
 
The School Dlstnct has estabhshed a hmlted nsk management program for workers' compensalion claims A premIUm IS eharged when needed by the Internal Service Fund to each user fund on the basiS of the percentage of that fund's payroll to total payroll m order to cover eSlimated claims budgeted by management based on known claims and pnor expenence The School Dlstnct accounts for claims WIth expense and hablhty bemg reported when It IS probable that a loss has occurred, and the amount of that loss ean be reasonably eslimated An excess coverage msurance pohey covers mdlVldual claims m excess of$I,OOO,OOO 00 loss per occurrence, up to the statutory hmlt 
 
Changes m the workers' compensalion claims hablhty dunng the last two fiscal years are as follows 
 
Beglnmng of Year Llablhty 
 
Claims and Changes In EslImates 
 
Claims Paid 
 
End of Year Llablhty 
 
2001 2002 
 
$ 34.472 59 $ 22,40034 $ 38.51883 $ 18,35410 
S 18.35410 $ 273,78968 $ 220.65565 $ 71.488 13 
 
The School DIstnct IS self-Insured With regard to unemployment compensalion claIms The School Dlstnct accounts for claims Wlthm the General Fund With expendIture and hablhty bemg reported when It IS probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated 
 
Changes m the unemployment compensalion claims hablhty dunng the last two fiscal years are as follows 
 
Beginning of Year Llablhty 
 
ClaIms and Changes In EslImates 
 
Claims Paid 
 
End of Year Llab.hty 
 
2001 2002 
 
$ 
 
000 $ 
 
1.68726 $ 
 
1.68726 $ 
 
000 
 
$ 
 
000 $ 
 
1,54200 S 
 
1.54200 $ 
 
000 
 
The School Dlstnct has purchased surety bonds to prOVide additIOnal msurance coverage as follows 
 
- 23- 
 
 COLQum COUNTY BOARD OF EDVCAnON 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note 4 RISK MANAGEMENT 
 
POSitIOn Covered 
 
Amount 
 
Supenntendent Each Employee (Per Loss) 
 
$ 100,00000 $ 300,00000 
 
Note 5 OPERATING LEASES 
 
ColqUitt County Board of EducatIOn has entered mto vanous leases as lessee for copiers, computers and modular bwldmgs. These leases are conSidered for accountmg purposes to be operattng leases Lease expenditures for the year ended June 30, 2002, amounted to $253,439 90 Future nurumum lease payments for these leases are as follows' 
 
Year Endmg 
 
Amount 
 
2003 2004 
 
$ 247,13087 173.78000 
 
Total 
 
Note 6 GENERAL LONG-TERM DEBT 
 
CAPITAL LEASES The ColqUitt County Board of EducatIOn has entered mto vanous lease agreements mcludmg a Quahfied Zone Academy Bond as lessee for aIr condltlomng, eqUipment, computers and construction projects These lease agreements quahfy as capital leases for aceounttng purposes and, therefore, have been recorded at the present value of the future mInimum lease payments as of the date of their mceptlon 
 
GENERAL OBLIGATION DEBT OUTSTANDING General Obhgatlon Bonds currently outstandmg are as follows 
 
Pumose 
 
Interest Rates 
 
Amount 
 
General Government - Senes 1998 General Government - Senes 1999 
 
39% 3.9% 
 
$ 6,075,000 00 3,880,000 00 
 
$ 9.955,000.00 
 
The changes m General Long-Tenn Debt dunng the fiscal year ended June 30, 2002, were as follows 
 
- 24- 
 
 COLOUITT COUNTY BOARD OF EDUCAnON 
 
EXHffirr "F" 
 
NOTES TO TIlE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 2002 
 
Note 6 GENERAL LONG-TERM DEBT 
 
Capital Leases 
 
General ObhgatlOn 
Bonds 
 
Total 
 
Balance July I, 2001 
 
$ 417,97890 $12,700,000.00 $13,117,978 90 
 
Addilions Capital Leases 
 
5,000,00000 
 
5,000,000 00 
 
DeductIOns Debt Retired 
 
109,42552 2,745,00000 2,854,425 52 
 
Balance June 30, 2002 
 
$ 5308,553:38 $ 9,955,000,00 $15.263.55338 
 
At June 30, 2002, payments due by fiscal year which mcludes pnnclpal and mterest for these Items are as follows 
 
Fiscal Year Ended June 30 
 
Capital Leases 
 
General Obhgatlon 
Bonds 
 
Total Debt 
 
2003 2004 2005 2006 2007 - 2015 
 
$ 117,52687 101,34360 101,34360 16,89060 
5,000,000 00 
 
$ 3,285,662 50 3,395,892 50 3,889,392 50 
 
$ 3,403,18937 3,497,236.10 3,990,736 10 16,89060 5,000,000,00 
 
Total Pnnelpal and Interest $ 5,337,104 67 $10570,947.50 $15,908,052:17 
 
Deduct Imputed Interest 
 
28,551 29 
 
Net Present Value of Future Mlmmum Lease Payments $ 5308,553.38 
 
Note 7 ON-BEHALF PAYMENTS 
 
The School Dlstnct has recogmzed revenues and expenditures m thc amount of $787,79703 for health msurance and retIrement contnbutlons paid on the School Dlstnct's behalf by thc followmg State AgenCies, 
 
- 25- 
 
 COLQUITT COUNTY BOARD OF EDUCATION 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note 7 ON-BEHALF PAYMENTS 
 
Georgia Department of EducatIon PaId to the Georgia Department of Commumty Health For Health Insurance ofNon-Certified Personnel In the amount of $707,739 03 
 
Office of Treasury and Fiscal ServIces PaId to the Pubhc School Employees Retirement System For Public School Employees RetIrement (PSERS) Employer's Cost In the amount of $80,058.00 
 
Note 8 SIGNIFICANT COMMITMENTS 
 
The followmg is an analysIs ofslgmficant outstandmg construction orrenovatlon contracts executed by the School Dlstnct as of June 30, 2002 
 
ProJect 
 
Unearned Executed Contracts 
 
Norman Park Elementary School Renovations Vereen School Roof Retrofit 
 
$ 1.202,687 70 185.20000 
 
$.1.387.887,70 
 
The amounts descnbed m thIS note are not reflected m the general-purpose finanCial statements 
 
Note 9 CONTINGENT LIABILITIES 
 
Amounts received or receIvable pnnclpally from the Federal government are subject to audit and reVIew by grantor agenCIes This could result m requests for reimbursement to the grantor agency for any expenditures whIch are disallowed under grant terms The School DIstnct behevcs that such disallowances, If any, Will be Imrnatenalto ItS overall financIal positIOn 
 
The School DIStnCtiS a defendant m various legal proceedmgs pertaImng to matters mCIdentalto the performance ofroutine School Dlstnct operations The ull1mate dispoSItion ofthese proceedmgs IS not presently determmable, but IS not beheved to be matenal to the general-purpose finanCIal statements 
 
- 26- 
 
 COLOUITT COUNTY BOARD OF EDUCAnON 
 
EXHIBIT "F" 
 
NOTES TO THE GENERAL-PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30. 2002 
 
Note 10 ACCUMULATED EMPLOYEES' LEAVE 
 
Twelve month employees of the School Dlstnct earn two weeks leave annually Eleven month employees ofthe School Dlstnct earn one week ofleave annually Maximum accumulation allowed IS four weeks. Upon retirement or termination of employment employees arc paid for unused leave, up to the maximum accumulation allowed, at their current rate ofpay. See Note 1 - Compensated Absences 
 
Note II RETIREMENT PLANS 
 
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) 
 
TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school dlstncts are covered by the Teachers Retirement System of Georgia (TRS), which IS a cost-shanng mulTIple employer defined benefit pensIOn plan TRS proVIdes service retirement, disabilIty retirement and survivors benefits for Its members In accordance With State statute. The Teachers Retirement System of Georgia Issues a separate stand alone finanCial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts 
 
TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the School Dlstnct who are covered by TRS are reqUired by State statute to contnbute 5% of their gross earrungs to TRS The School Dlstnct makes monthly employer contnbutlOns to TRS at rates adopted by the TRS Board of Trustees m accordance With State statute and as adVised by their mdependent actuary The required employer contnbutlon rate IS 9 24% and employer contnbutlons for the current fiscal year and the precedmg two fiscal years are as follows 
 
Fiscal Year 
 
Percentage Contnbuted 
 
ReqUired ContnbutlOn 
 
2002 2001 2000 
 
100% 100% 100% 
 
$ 3.156,632 34 $ 3,639,483 43 $ 3,459,760 60 
 
- 27- 
 
 COLQUITT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 2002 
 
ASSETS Cash and Cash EqUivalents Accounts ReceIvable Inventones 
Food Donated Commodlbes Purchased Food 
Total Assets 
LIABILITIES AND FUND EQUITY LIABILITIES 
Cash Overdraft Accounts Payable Salanes Payable Expired Grant Balances Payable Deferred Revenue 
Total LiabilitIes FUND EQUITY 
Fund Balances Reserved For Inventones Food Donated CommodItIes Purchased Food Unreserved Undeslgnated Total Fund Equrty 
Total L1ablllbes and Fund EqUIty 
See notes to the general-purpose finanCIal statements 28 - 
 
SCHOOL FOOD 
SERVICES FUND 
 
LOTTERY PROGRAMS 
 
$ 
 
312,98168 $ 
 
194,61900 
 
31,09641 
 
68,42086 
 
22,60247 9,451 34 
 
$ 
 
376,131 90 $~_.:;2~63~,O~3:::.9.:;:86::. 
 
$ 
 
41,57849 $ 
 
173,60889 
 
47,42510 215,61476 
 
$ 
 
215,18738 $ 
 
263,03986 
 
$ 
 
22,60234 
 
9,451 34 
 
128,890 84 $ 
 
000 
 
$ 
 
160,944 52 $ 
 
000 
 
$ 
 
376,131 90 $. ~_,:;2~63~,O~3:g,9,g86~ 
 
 EXHIBIT "Goo 
 
FEDERAL 
PROGRAMS 
 
TOTALS 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
507,600 68 $ 
 
580,70579 
 
$ 
 
641,45793 
 
740,97520 
 
820,44580 
 
22,60247 9,451 34 
 
20,46728 13,79049 
 
$ 
 
641,45793 $ 1,280,62969 $ 1,435,409 36 
 
$ 
 
197,650 88 $ 
 
197,65088 $ 
 
483,161 38 
 
76,306 94 
 
165,31053 
 
142,48791 
 
343,64288 
 
732,866 53 
 
646,76212 
 
23,85723 
 
23,85723 
 
7,12416 
 
3617 
 
$ 
 
641,45793 $ 1,119,68517 $ 1,279,571 74 
 
$ 
 
22,60234 $ 
 
20,46728 
 
9,451 34 
 
13,79049 
 
$ 
 
----'0'-'0"'0'- 
 
128,89064 
 
121,57985 
 
$ 
 
000 $ 
 
160,944 52 $ _ _1,-,5",5"",8::<37,-6",.2.... 
 
$ 
 
641,45793 $ 1,280,62969 S 1,435,409 36 
 
- 29- 
 
 COLQUITT COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES 
SPECIAL REVENUE FUND YEAR ENDED JUNE 30 2002 
 
REVENUES 
Slate Funds Federal Funds Other Funds 
Total Revenues 
EXPENDITURES 
Current Instruction Support Services Pupil ServICeS Improvement of InstruclKlnal ServlC8S Educabonal Media ServICeS General AdminIStration Sdlool Administration Maintenance and Operation of Plant Sludent Transportabon ServiceS Central Support Services Other Support ServiceS Food ServlC8s Operabon Community ServICes Operabons 
Debt Service PnllClpal Interest 
Total Expenditures 
Excess of Revenues over (under) expenditures 
OTHER FINANCING SOURCES (USES) 
Caprlal Leases Operabng Transfers In 
Total Other Flnanong Souroes (Uses) 
Excess of Revenues and Other FinanCing Sources over (under) Expenditures and Other FinanCing Uses 
FUND BALANCE JULY 1 
Food Inventory - Net Change In Pened Donated Commodities Purchased Food 
 
FUND BALANCE JUNE 30 
 
See notes to the general-purpose finanCIal statements 
 
-30- 
 
SCHOOL FOOD 
SERVICES FUND 
 
LOTTERY PROGRAMS 
 
$ 
 
24089800 $ 2.010.178 78 
 
2.556.046 14 
 
963.568 04 
 
$ 3.760.51218 $ 2.010.176 78 
 
$ 1.622.626 24 
248.33322 3.36007 
82.32048 
20.13459 11.76875 
 
S 3.753201 32 
 
19.58635 2.04708 
 
$ 3.753.201 32 $ 2.010.176 78 
 
$ 
 
7310 B6 $ 
 
000 
 
$ 
 
7.31086 $ 
 
15583762 
 
2.13519 -4.339 15 
 
$ 
 
160.944 52 $, 
 
000 000 
~o~o~o 
 
 EXHIBIT"H" 
 
FEDERAL 
PROGRAMS 
 
TOTALS 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 2,251,07478 $ 2,052,591 21 
 
$ 4,804,597 80 
 
7,360,64394 
 
5,060,052 28 
 
963,56804 
 
1,037,992 12 
 
$ 4,804,597 80 $ 10,575,286 76 $ 9,150,635 61 
 
$ 3,584,22328 $ 5,206,849 52 $ 4,623,909 39 
 
277,93583 538,82503 
1,51691 324,36115 
99600 49,87331 
66360 3,39204 40,98590 
71,244 26 
 
526,26905 542,16510 
1,51691 406,68163 
99600 70,00790 12,43235 
3,392 04 40,98590 3,753,201 32 71,244 26 
 
432,063 46 112,42747 
350,16228 
61,036 61 1,43354 
39,32673 3,532,97606 
60,55033 
 
19,586 35 2,04708 
 
18,19289 4,15300 
 
$ 4,894,017 31 $ 10,657,39541 $ 9,236,251 76 
 
$ 
 
-89,41951 $ 
 
-82,108 65 $ 
 
-85,61615 
 
$ 
 
8,18386 
 
$ 
 
89,41951 $ 
 
89,41951 
 
123,951 53 
 
$ 
 
89,41951 $ 
 
89,41951 $ 
 
132,13539 
 
$ 
 
000 $ 
 
7,31086 $ 
 
46,51924 
 
000 
 
155 837 62 
 
114,59390 
 
2,13519 -4,33915 
 
-7,50591 2,230 39 
 
$ 
 
000 $ 
 
160,944 52 $ _ _1:;;5;::5.::,8:::,37;.6:;::2:;. 
 
- 31 - 
 
 COLQUIn COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 2002 
 
ASSETS Cash and Cash EqUivalants Invastments Accounts Racelvable 
Total Assets 
LIABILITIES AND FUND EQUITY LIABILITIES 
Cash Overdraft Accounts Payable Contracts Payable Retalnages Payable 
Total Liabilities FUND EQUITY 
Fund Balances Reserved For Capital Outlay For Debt SelVlce For Purpose of Bond Issue Unreserved Undeslgnated Total Fund EqUity 
TotalLJabllitles and Fund EqUity 
 
REGULAR 
 
BOND PROCEEDS 
 
$ 
 
506,35775 $ 
 
38687 
 
6,231,004 00 
 
1,303,63007 
 
$ 6?37,361 75 $ 1,304,01694 
 
$ 
 
27,520 QQ 
 
642,28339 
 
129,15345 
 
$ _ _7!-,9~8"",9~56~84!.... 
 
$ 4,805,000 00 1,357,350 02 $ 
575,011 73 
$ 6,737,361 75 $ 
 
505,06010 000 
505,06010 
 
$ 6?37,361 75 $ _~1~,304=...::,0:.:.16~9.4.. 
 
See notes to the general-purpose finanCial statements - 32- 
 
 EXHIBIT "'" 
 
GEORGIA STATE FINANCING AND 
INVESTMENT 
COMMISSION 
 
TOTALS 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
506,744 62 $ 1,083,74396 
 
7,534,634 07 
 
4,931,83356 
 
$ 
 
14,00000 
 
14,000 00 
 
$ 
 
14,000 00 $ 8]055]378 69 $ 6,015]577 52 
 
$ 
 
14,00000 $ 
 
14,000 00 
 
27,52000 
 
642,28339 $ 
 
238,26024 
 
129,15345 
 
59]53279 
 
$ 
 
14,00000 $ 
 
812,956 64 $ 
 
297,79303 
 
$ 4]805,000 00 1,357,350 02 505,06010 $ 4,647,94801 
 
$ 
 
000 
 
575,011 73 
 
1,069,83648 
 
$ 
 
000 $ 7]242.421 85 $ 5]717]784 49 
 
$ 
 
14]00000 $ 8,055,37869 $ 6,015]577 52 
 
- 33- 
 
 COLQUITI COUNTY BOARD OF EPUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 2002 
 
REVENUES 
Stale Funds Other Funds 
Total Revenues EXPENDITURES 
Currenl Support SeMces BUSiness Admln,strauon 
Caprtal Outlay Land end Land Improvements BUilding end Building Improvements 
Total Expendrturas 
Excess of Revenues over (under) Expenditures 
OTHER FINANCING SOURCES (USES) 
Capital Leases Operaung Transfers In Operating Transfers Out 
Total Other FinanCing Sources (Uses) 
Excess of Revenues and Other FinanCing Sources over (under) Expendrturas and Other FinanCing Uses 
FUND BALANCE JULY 1 
FUND BALANCE JUNE 30 
 
REGULAR 
 
BOND PROCEEDS 
 
$ 
 
207,236 n $ 
 
$ 
 
207,23677 $ 
 
78,771 51 78,771 51 
 
$ 
 
195,00000 
 
78,40309 $ 4,163,78005 
 
$ 
 
273,40309 $ 4,163,78005 
 
$ 
 
-66,166 32 $ -4,085,008 54 
 
$ 5,000,00000 733,691 59 $ 
$ 5,733,691 59 $ 
 
-57,87937 -57,87937 
 
$ 5,667,52527 $ -4,142,88791 
 
1,069,83648 
 
4,647,94801 
 
$ 6,737,361 75 $_-.;50=5.,0.60~,;,;10:.. 
 
See notes 10 Ihe general.purpose finanCIal slalemenls - 34- 
 
 EXHIBIT"J" 
 
GEORGIA STATE FINANCING AND 
INVESTMENT COMMISSION 
 
TOTALS 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
140,000 00 $ 
 
140,000 00 $ 
 
194,68340 
 
286,008 28 
 
445,72809 
 
$ 
 
140,000 00 $ 
 
426,008 28 $ _-l64=0",.4C!.11.!..C4",9<... 
 
$ 
 
195,000 00 
 
$ 
 
197,87937 
 
$ 4,440,06251 
 
709,744 85 4,579,93655 
 
$ 
 
197,87937 $ 4,635,06251 $ 5,289,681 40 
 
$ 
 
-57,87937 $ -4,209,054 23 $ -4,649,26991 
 
$ 5,000,000 00 
 
$ 
 
57,87937 
 
791,57096 $ 
 
896,122 52 
 
-57,87937 
 
-334,021 52 
 
$ 
 
57,87937 $ 5,733,691 59 $ 
 
562,10100 
 
$ 
 
000 $ 1,524,637 36 $ -4,087,16891 
 
000 
 
5,717,764 49 
 
9,804,95340 
 
$ 
 
o00 $ 7,242.421 85 $ 5,717,764 49 
 
- 35- 
 
 COLQUITT COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUNP TYPES JUNE 30 2002 
 
ASSETS Cash and Cash EqUivalents Investments Accounts Receivable 
 
NONEXPENDABLE TRUST FUNDS 
 
ENDOWMENT FUNDS 
 
CLASS OF 1988 
 
MCKEE 
 
ODOM 
 
SCHOLARSHIP SCHOLARSHIP SCHOLARSHIP 
 
FUND 
 
FUND 
 
FUND 
 
DEMOTT SCHOLARSHIP 
FUND 
 
$ 
 
26530 $ 
 
3,734 03 $ 
 
2,59516 $ 
 
1,00000 
 
6,000 00 
 
49,00000 
 
50,11073 
 
25,92641 
 
1604 
 
131 01 
 
13398 
 
6932 
 
Total Assets 
 
$ 
 
6,281 34 $ 
 
52,839 87 $ _ _.;;20:;6"::190:;95::.:.;73::, 
 
FUNP EQUITY 
Fund Balances Reserved For Endov.ment Corpus Unreserved UndeSignated 
Total Fund Equ,ty 
 
$ 
 
28134 
 
33,86504 
 
2,839 87 $ _---'2"'6"',9",9",-5.!-73,,- 
 
$ 
 
6,28134 $ 
 
52,86504 S 
 
52 839 87 $ 
 
2""6,,,,9;,;:90:;5,,;,7;;,,3 
 
See notes to the general-purpose financial statements 
 
- 36- 
 
 EXHIBIT "K" 
 
EXPENDABLE TRUST FUNDS 
 
GOFF 
 
MILLSAP 
 
SCHOLARSHIP 
 
SCHOLARSHIP 
 
FUND 
 
FUND 
 
PIPPIN SCHOLARSHIP 
FUND 
 
TOTALS 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
1,541 58 $ 
 
2,00029 $ 
 
1,00000 $ 
 
12,13636 $ 
 
12217 53 
 
34,754 49 
 
11,65929 
 
177,45092 
 
177,664 04 
 
9292 
 
31 17 
 
47444 
 
751 37 
 
$ 
 
36,38899 $ 
 
2,000 29 $ 
 
12,69046 $ 
 
190,061 72 $ 
 
1:.;:9:;:O,..:;:6~32~94::. 
 
$ 
 
36,388 99 $ 
 
$ 2,000 29 $ _ _-,-1.2.,6";9",0,,,4"-.6 
 
75,00000 $ 115,06172 
 
75,000 00 115,63294 
 
$ 
 
36 38899 $ 
 
2:00029 $ 
 
190,061 72 $ _ _.:.190~,6;:;;3::;,2~94;:, 
 
37 - 
 
 COLQUITI COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES ANp CHANGES IN FUND BALANCES 
FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUNDS YEAR ENPED JUNE 30, 2002 
 
REVENUES other Funds 
EXPENDITURES Current Support ServJces General Admlnlstranon 
Excess of Revenues over (under) Expenditures FUND BALANCE JULY 1 
FUND BALANCE JUNE 30 
 
DEMOTT SCHOLARSHIP 
FUND 
 
GOFF SCHOLARSHIP 
FUND 
 
S 
 
1,100 40 S 
 
1,48260 
 
$ 
 
1,00000 $ 
 
2,22360 
 
S 
 
10040 $ 
 
-741 00 
 
26,89533 
 
37,12999 
 
$ 
 
See notes to the general-purpose finenClal statements - 38- 
 
 EXHIBIT "L" 
 
MILLSAP SCHOLARSHIP 
FUND 
 
PIPPIN SCHOLARSHIP 
FUND 
 
TOTALS 
 
YEAR ENDED 
 
JUNE 30, 2002 
 
JUNE 30, 2001 
 
$ 
 
1,00000 $ 
 
51592 $ 
 
4,098 92 $ _ _----"5"",4"-79~46"__ 
 
$ 
 
000 $ 
 
77565 $ 
 
3,999 25 $ _ _-.:!4:.!;,64!:!.2"-.87!...- 
 
$ 
 
1,00000 $ 
 
-25973 $ 
 
9967 $ 
 
83659 
 
1,000 29 
 
12,95019 
 
77,97580 
 
77,13921 
 
$ 
 
12,690 46 $ 
 
78,075 47 $ _ _-,7~7..:,9:.:,7~5~80~ 
 
- 39- 
 
 COLQUITT COUNTY BOARD OF EpUCATION SCHEPULE OF EXPENDITURES OF FEDERAL AWARpS 
yEAR ENpEp JUNE 30 2002 
 
SCHEDULE "1" 
 
FUNDING AGENCY PROGRAM/GRANT 
Agnculture U S Department of Child Nutntlon Cluster Pass-Through From Georgia Department of Education Food and Nutnbon Program Food Set"ilces School Breakfast Program NatlOnlil School Lunch Program Pas&-Through From Office of School Readiness Food and NubllJon Prognllm Food SeMCe8 Summer Food ServIce Progl1llm for Children 
Total Child Nutnbon Cluster 
Other Programs PlIlIs-Through From Georg.!a Department of Educstlon Food and NutnhOn Progrum Food Dlslnbubon Program (1) Fresh Produce Program (1) 
Total U S Department of AgneutbJre 
Educahon U S Department of Special Education Cluster Pass-Through From Georgia Department of Education IndiVIduals With Dlsabl~tJes EducabOn Act Part B - SpeCiel EducalJon Flow Through Preschool CapaCIty BUilding Improvement Grant 
Total Speoal EducabOn Cluster 
Other Programs Pass-Through From Georgia Department of EducalJon Elementary lind Secondary Education Act Tille I Accountability Grants Grants to Local Educational Agencies TrtIo II ElUnhower ProfesSional Development TrtIe III Technology literacy Challenge Fund Grants Tole VI Class Size Reduction Innovative Education Program Strategies Vocational Edueatlon - BaIlIC Grunts to Stales High School Program Basic Grant Pass-Through From Southwest Georglll Regional Mental Health, Mental Retardatton and Substance Abuse Board Safe and Drug-Free Schools Pass-Through From Bernen County Board of Educabon dlbla Southem Pine Migrant Education Agency Elementary and Secondary EducalJon Act Title I MIgI'Bnt Education 
Total U S Department of EducatIOn 
 
CFDA NUMBER 
 
PASS THROUGH 
ENTITY 10 
NUMBER 
 
FEDERAL REVENUE IN PERIOD 
 
EXPENDITURES IN PERIOD 
 
10553 10555 
 
NlA 
 
$ 58824145 
 
(2) 
 
NlA 
 
1 73325983 $ 
 
351841381 (3) 
 
10559 
 
NlA 
 
134,11424 
 
134,35689 (3) 
 
$ 2,45561552 $ 
 
365277070 
 
10550 10550 
 
NlA 
 
68,66955 
 
6968955 
 
N/A 
 
33,76107 
 
33,761 07 
 
$ 2,556 046 14 $ 
 
375320132 
 
64 027 84 173 84 173 
 
NlA 
 
$ 833,25739 $ 
 
NlA 
 
7694163 
 
N/A 
 
3679800 
 
$ 946,99702 $ 
 
83330913 (3) 769-4163 3679800 
94704876 
 
84348 84 010 84 281 84 318 84 340 84 298 
84 048 
 
NlA 
 
38222539 
 
N/A 
 
2231,886 31 
 
NlA 
 
4875047 
 
N/A 
 
126 500 00 
 
NlA 
 
35939949 
 
N/A 
 
5391114 
 
N/A 
 
9769681 
 
38222539 2,231,886 31 
4875047 12650000 359,39949 
5391114 
9769681 
 
84 186 
 
NlA 
 
18,81278 
 
1881278 
 
84 011 
 
NlA 
 
367 ,521 37 
 
367521 37 
 
$ 4,633,700 78 S 
 
4,633,75252 
 
- 40 - 
 
 COLQUITT COUNTY BOARD OF EDUCATION SCHEDULE OF EXpENDITURES OF FEDERAL AWARDS 
YEAR ENDED JUNE 30 2002 
 
SCHEDULE "1" 
 
FUNDING AGENCY PROGBAMIGBANT 
JusbCe U S Department 01 Pass-through From Children and Youth CoordulBbng Council CommUnities In Schools Expansion 
Labor U S Do_ent of 
PS&5-Through From GeorgIa Department of lJiJbor Workforce Investment Act 
Defense U S Department of D,roct Department of the Navy ROT C Program 
 
CFDA NUMBER 
 
PASS THROUGH 
ENTITY ID 
NUMBER 
 
FEDERAL REVENUE IN PERIOD 
 
EXPENDITURES IN PERIOD 
 
16540 
 
NIA 
 
$ 
 
3708253 $ 
 
37,08253 (4) 
 
17 259 
 
N/A 
 
$ 
 
90,73335 $ 
 
90,73335 
 
$ 43,081 14 $ 
 
132,44891 (3) 
 
Total Federal FlnanclQl AsSIStance 
 
:s 7,360,643 94 S _...:8:.,64i::.:7",,2,,1~8~6:;:.3 
 
N/A = Not Available 
NQtos to the SChodYIn pf EvMndl!yrell Qf Fodera! Awards 
(1) The amounts shown for the Food DlstnbutJon and Fresh Produce Programs represents the Federally aSSigned value of nonmonetary BS!IISlance for donated commodities received and/or consumed by the sy&tem dunng the current fiscal year 
(2) ExpendItures for the School Breakfast Progl1lm were not malntamed separately and are Iflduded In the 2002 Nattona! School Lunch Program 
(3) Expenditures for thiS prognun Include State. and/or Other Funds 
Expenditures ere not maintained by fund source 
(4) Includes Federal AasJstance of $37082 53 provided to subreoptents 
r> MsJOl' Programs a~ ldenbfied by an asterisk III front of the CEDA number 
The sccompanymg schedUle of expenditures of Fedoral awards mdudes the Federal grant IIctlvlty of the ColqUitt County Board of EducalJon and IS preaanted on the mochfled acaual basls of accounbng whICh Is the same baSIS of 8CCOUnllng used In the presentabOn of the geoeral-purpoH finanoal stelemenle 
 
See notes to the general...purpoH finenCl8l statements 
 
- 41 - 
 
 COLQUm COUNTY BOARD OF EDUCATION 
SCHEDULE OF STATE REVENUE 
YEAR ENDED JUNE 30 2002 
 
SCHEDULE 2" 
 
AGENCYffUNPlNG 
GRANTS Education Georg.. Department of 
Qualrly BaSIC Educa110n DlrecllnslJucbonal Cost Kn:Iergartsn Program 
Kndergar1en Program - Early Intervenbon PrtlgflIm Pnmary Grades (13) Program Primary Grades - Early intervention (1-3) Program Uppar Elementary Grad.. (4-5) Program UW-r Eiement8ry Grades (4-5) Program- 
Earty Intervention Program Middle School (~) Progrom HIllh Sd1oo1 G......., EducatJon (11-12) Progrom VocatlonaJ Laboratory (11-12) Program Sh-.ta WIth D1bHIboe 
Ca1agory I Calegory II Catagory III Ca1agory IV Ca1agory V GriIed Student Category VI RemedlBl Educabon Program 
~~E~Program 
Eng~ah Speakers of Olhar Languages (ESOL) - . Center PrognIm Staff and Profest,k)nal Development Twenty OilY' AdcXIlOOBllnatrucbon Indirect Cost 
Catogoncol Grant. 
Pupil TranaportatJon Regular Bu. Rep&acement 
Spararty NUIlIIOg SeMces Pmclpal SuppIomonts Vocabonal SUp8fVl1Of'l Migrant Education Mid-term Adjulltment Hold-HarmIeaa Education Equ.Uzation Fundng Grant 
Food ServIces 
Vocational Education Other State Programs 
At-RISk Summer- School Program Health tnsullU'lC8 K-3 Stal8Wtde ResdJllg ProgrJIm Mentonng Program Poat Seconclory Opllon. Preochool HardK:apped Program RemedlBl Summer School Student AchIevement Lottery Programs Asaosllve Technology Computers III the CJasaroom 
Human R8IOlIfC8.S, GeoIgI8 Department of Second Step ViOlence Prevenbon 
Georgla Stats Fll'\8f'ICIrlg end Investment COmlTlIaalon Remburaement on Con:Itruc:OOn Prqect.I 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
GENERAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
FUND 
 
TOTAL 
 
$ 1805,71300 809 910 00 
4034 634 00 219581000 216367100 
63257800 4255,246 00 351985700 1,153,65800 
6,048200 1 362,61500 1683,13300 
43006500 127,91800 816,309 00 363,81500 32823100 300,0454 00 777,51000 104825500 234,22700 04 621,554 00 
 
1009,24700 327,91800 12000 00 163,680 00 33 832 00 04380100 3,18100 324,80100 
04 809,170 00 $ 
259,854 45 
 
24089800 
 
68 814 00 70773903 130996 00 
04 250 00 168300 177 783 00 7,680 76 67058631 
 
17 582 59 26706927 
 
1999 &4 
 
S 180571300 809 910 00 
4,034,634 00 2195810 00 2,16367100 
63257800 04 255,246 00 3519,85700 1 153,65800 
648200 1,36261500 1683133 00 
430,06500 127,81800 816,309 00 383,81500 32823100 300454 00 777,51000 14825500 234 227 00 4621 554 00 
1009,24700 32791800 12,000 00 163680 00 3383200 43801 00 3181 00 324801 00 
4809,17000 24089800 259854 45 
6861400 70773903 130,99600 
4250 00 1,68300 177,78300 7880 76 67058631 
17 582 59 26706927 
1 99964 
 
S 140,000 00 
 
140 000 00 
 
- 42 
 
 COLQUITT COUNTY BOARp OF EDUCAUON SCHEPULE OF STATE REVENUE YEAR ENDED JUNE 30 2002 
 
SCHEDULE "Z' 
 
AGENCYJEUNQING 
GRANTS Offk:e 01 School RS8cllness Pr&-KJndergarten Prognun 
Office 01 TrealLXy and FIscal SeMCeS PublIC School Employees Re1Jrement 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAl 
 
CAPITAL 
 
GENERAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
FUND 
 
TOTAL 
 
$ 1 72552492 S _----'80"""0"'58'-'00""- 
 
$ 1 72552492 80 058 00 
 
$ 40,610,91919 S 2.251.07478 $ 1.0,000 00 $ 43001,99397 
 
See notes to the ge:neraJ.purpose finanCIal statements 
 
43 
 
 COLQUITT COUNTY BOARP OF EDUCATION SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS 
YEAR ENPED JUNE 30 2002 
 
SCHEDULE "3" 
 
PROJECT 
 
ORIGINAL ESTIMATED 
COST(l) 
 
CURRENT ESTIMATED COSTS (2) 
 
AMOUNT EXPENDED IN CURRENT 
YEAR (3) (4) 
 
AMOUNT EXPENDED 
IN PRIOR YEARS (3) (4) 
 
PROJECT STATUS 
 
The acquIring of real property for new 
faahtl8's, renovating, repalMg, Improving and eqUipping eXisting school buildings, other buUdln9 and facilltlas, Includ,ng fumtture and eqUIpment, acqumng property for new school faclilbas and syslem-wlde tecJmology acquisitions and II11provement9 The expenditure limit for tha project IS 523,600,000 00 
 
$ 23,600,000 00 $ 23.600[000 00 S 4361,65942 $ 
 
12:472,37825 
 
Ongomg 
 
(1) The School OLStnct's Dnglnal cost estrnate as spedfied In the resolution calling for the unposlhon of the Local OptIon Sales Tax 
 
(2) Tha School Dlstnct's current esbmale of tolal cost for the project Includes all cost from project Incepbon 10 complebon 
 
(3) The volo~ of Colquitt County approved the unposl\lon of a 1% sales tax 10 fund the above project and rebre 
assoaalad debt Amounts axponded for th's project may ,nclude sales tax proceeds, slate, local proparty 
taxes andlor othor funds over the Ide of the project 
 
(4) In addlbon to the expenchtures shown above, the School Dlstnd has II\curred Interest to provide advance funding for the above Pl"Ojec:t. as follows 
 
Pnor Years 
 
$ 1,206,400 00 
 
Current Year 
 
441,77250 
 
Total 
 
see notes to the general-purpose finanaal statements 
 
- 45- 
 
 COLQUITT COUNTY BOARD OF EDUceTION GENERAL FUND - QUALITY BASIC EDUCATION PROGRAM (QBEI 
ALLOTMENTS AND EXPENDITURES - BY PRQGRAM YEAR ENDED JUNE 30 2002 
 
SCHEDULE "4" 
 
DESCRIPTION 
 
ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) 
 
ELIGIBLE QBE PROGRAM COSTS 
 
SALARIES 
 
OPERATIONS 
 
TOTAL 
 
Direct Instructional Programs 
 
K1nllergarten Program 
 
$ 
 
KI1dergsrten Program-Early Intervention Program 
 
Prtmary Grades (1-3) Program 
 
Primary Grades-Earty Intervention (1-3) Program 
 
Upper Elementary Grad.. (4-5) Program 
 
Upper Elementary Grades-Ear1y Intervenhon (4--5) 
 
Program 
 
M,ddle School (6-6) Program 
 
High SChool General Education (9-12) Program 
 
Voca1:Jonal Laboratory (9-12) Program 
 
Students with DtsablhUes 
 
Category II 
 
Category III 
 
Category IV 
 
Category V 
 
Gifted Student- Category VI 
 
Remed131 Education Program 
 
AhemaUve Educatton Program 
 
English Speakers of Other Languages (ESOL) 
 
1,959,55700 $ 676,91300 
4,376,382 00 2,362,66900 2,346,01300 
 
2,011,863 39 $ 650,96042 
4,246,986 37 2,423,96946 2,54669214 
 
666 474 00 4,617 766 00 3,81974500 1,251,948 00 3,917 802 00 
665,856 00 394 812 00 356,196 00 326,05300 
 
606 732 76 5,180822 08 4,216617 99 1,200 21218 
1,476,366 85 1,954,86271 
270,49780 41 55205 749,20303 28967384 498,180 96 288,41955 
 
5906315 $ 6,97631 
164 962 36 51 34666 
122 571 44 
7,69637 19370878 299,08032 13638579 
23,19352 51,07867 16031 91 
1,136 58 2256362 
4,49730 10031 76 
3,21316 
 
207092654 659936 73 
4,411 94675 2,47531638 266926358 
61642913 5,374,530 86 4,515,69831 1 336,59797 
1 499,58037 2,005,941 38 
286,52971 42,666 63 
771,766 65 294,171 14 508,21272 291 ,63271 
 
TOTAL DIRECT INSTRUCTIONAL PROGRAMS 
 
S 28204 428 00 $ 28,85563360 $ 1 175.53794 S 30,031 171 54 
 
MedICI Center Program Staff and ProfeSSlOI1at Development 
 
84375300 160,866 00 
 
98964826 33,21465 
 
16594823 134,361 50 
 
1 15559649 16757615 
 
TOTAt QBE FORMULA FUNDS 
 
$ 
 
29,209.06700 $ 29[878:49651 $ '.475[84767 S 31.354.34418 
 
(1) Comprised of State Funds plus Local Five MiU Share 
 
See notes to the general-purpose finandal statements 
 
- 46- 
 
 COLOUIn COUNTY BOARD OF EDUCATION GENERAL FUND - OUALITY BASIC EDUCATION PROGRAM (aBE) 
ALLOTMENTS AND EXPENPITURES - BY SITE YEAR ENRER JUNE 30 2002 
 
SCHEDULE "5" 
 
Doerun Elementary School Odom Elementary School Nonman Park Elementary School ColqUitt County HIgh School Funston Elementary School Wnght Elementary School Stnngfellow Elementary School Gray Middle School Okapllco Elementary School Cox Elementary School Hamltton Elementary School Willie J Williams Middle School Sunset Elementary School Vereen Muilipurpose Center Program for Excepbonal Students Cenbral Office (AlternatIVe Educabon Program) 
TOTAL 
(1) Comprised of State Funds plus Local Five Mill Share 
 
ALLOTMENTS FROM GEORGIA DEPARTMENT OF EDUCATION (1) 
 
ELIGIBLE aBE PROGRAM COSTS 
 
$ 
 
820,41300 $ 
 
957,28721 
 
1,990,026 00 
 
2,033,658 53 
 
1,927,63000 
 
1,869,048 11 
 
6,530,725 QO 
 
7,225,58364 
 
1,198,914 QO 
 
1,187,564 75 
 
1,617,82500 
 
1,717,361 13 
 
1,357,604 00 
 
1,293,030 05 
 
3,144,73700 
 
3,515,59018 
 
1,329,233 00 
 
1,366,18786 
 
1,523,095 QO 
 
1,604,798 92 
 
907,674 QQ 
 
1,047,45266 
 
3,305,284 00 
 
3,672,309 14 
 
2,195,072 QO 
 
2,144,12231 
 
280,401 03 
 
116,77602 
 
356,19600 
 
$ 
 
28,204,42800 $ 30,031:17154 
 
See notes to the general-purpose finanCIal statements - 47- 
 
 SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS 
 
 t1J...~t_LL W. HIN10N 
~ TAT E AlJDITon 
(404) 656-217. 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street. S W SUIIC 214 
Allanl". Gcurgl" 10134-8400 
Apnl 18, 2003 
 
Honorable Sonny Perdue, Governor Members of the General Asscmbly Members of the State Board of EducatIOn 
and Supenntendent and Members of the ColqUItt County Board of Educallon 
REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FThlANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
Ladles and Gentlemen 
We have audIted the financial statements of ColquItt County Board of EducatIon as of and for the year ended June 30,2002, and have Issued our report thereon dated Apnl 18.2003 ThIS report was quahfied for vanous departures from gencrally accepted accountIng pnnclples. as IdenlIfied In the audItor's report on thc general-purpose financial statemcnts Wc conducted our audIt In accordance WIth auditing standards generally accepted In the Umted States of Amenca and the standards apphcable to financIal audIts contaIned In Government AudItIng Standards, Issued by the Comptroller General of the Umted States 
Comphance 
As part of obtaInIng reasonable assurance about whether ColquItt County Board of EducatIOn's financial statcments are free of matenal mIsstatement, we perfonned tests of Its comphance With certaIn proVISIOns oflaws, regulatIOns, contracts and grants, noncomphancc WIth wluch could have a dIrect and matenal effect on the detennInatlon of financial statement amounts I lowever. proVIdIng an opInIOn on comphance With those proVISIons was not an obJeclIve of our audit, and accordIngly, we do not e"press such an opInIOn The results ofour tests dIsclosed no Instances ofnoneomphance that are reqUIred to be reported under Government AudItIng Standards 
Internal Control Over FInancial ReportIng 
In plarmIng and perfonnIng our audIt, we conSidered ColqUItt County Board of Educallon's Internal control over finanCial reportIng In order to dctennIne our audItIng proccdurcs for thc purpose of expressIng our opInIOn on the finanCial statements and not to proVide assurance on thc Internal 
2002YB-41 
 
 control over financial report1Og However, we noted a certam matter 1Ovolv1Og the 10ternal control over financial report1Og and Its operallon that we consider to be a reportable conditIon Reportable condilions 1Ovolve matters com1Og to our attentIOn relat10g to sIgmficant defiCIencIes 10 the design or operallon ofthe 10temal control over financial report1Og that, 10 ourJudgment, could adversely affect ColqUitt County Board ofEducation's abIlIty to record, process, summanze and report financial data consistent With assertIOns of management 10 the fmanclal statements. Thc reportable conditIOn IS descnbed 10 the accompanY1Og Schedule ofF1Od1Ogs and QueslIoned Costs as Item FS-6351-02-0l 
A matenal weakness IS a condillon 10 whIch the design or operallon of one or more of the 10temal control components does not reduce to a reiallvely low level the nsk that mIsstatements 10 amounts that would be matenal 10 reiallon to the finanCial statements be10g audited may occur and not be detected wlthm a llmely penod by employees 10 the normal course of perform1Og their asSigned funcllons. Our conslderallon of the 10temal control over financial reporung would not necessanly disclose all matters 10 the 10temal control that might be reportable conditIOns and, accord1Ogly, would not necessanly disclose all reportable condillons that are also conSidered to be matenal weaknesses However, we consider Item FS-6351-02-0l to be a matenal weakness 
This report IS 10tended solely for the 1Oformallon and usc of the management, members of the ColqUitt County Board of EducatIOn, Federal award10g agencies and pass-through enlIlIes and IS not 10tcnded to be and should not be used by anyone other than these speCified parties 
Respectfully submItled, 
RWHas 2002YB-4l 
 
 :U"S~.LL W. HINTON 
STATe NJ[lITQR 
(404) 6tJ6 2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 W.,hmglon Slree,. S W SUllO 214 AII.nt. GeorgI. 10334-8400 
Apnl 18, 2003 
 
Honorable Sonny Perdue, Governor Members of the General Assembly Members of the State Board of EducatIon 
and Supenntendent and Members of the ColqUItt County Board of Education 
REPORT ON COMPLIANCE WITH REOUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 
Ladles and Gentlemen 
ComplIance 
We have audIted the complIance of ColqUItt County Board of EducatIOn WIth the types of complIance reqUIrements descnbed m the US Office ofManagement and Budget (OMB) CIrcular A-133 Compliance Supplement that are applIcable to each of lIs major Federal programs for the ycar ended June 30, 2002 ColqUItt County Board ofEducation's major Federal progrdlTIS are IdentIfied m the Summary of Auditor's Results SectIon of the accompanymg Schedule of Fmdmgs and QuestIOned Costs ComplIance With the requIrements of laws, rcgulatlOns, contracts and grants applIcable to each of ItS major Federal programs IS the responsibIlIty of ColqUItt County Board of EducatIon's management Our responsibIlIty IS to express an opmlon on ColqUItt County Board of EducatIon's complIance based on our audit 
We conducted our audit of complIance m accordance With audltmg standards generally accepted m the Umted States of Amenca, the standards applIcable to finanCial audits contamed m Government Audltmg Standards, Issued by the Comptroller General of the Umted States, and OMB Circular A133, Audits of States, Local Governments, and Non-Profit Orgam=atlOns Those standards and OMB CIrcular A-133 reqUlrc that we plan and perfonn the audit to obtam reasonable assurance about whether noncomplIancc WIth the types ofcomplIance reqUlremcnts rcferred to abovc that could have a direct and matenal effect on a major Federal program occurred An audIt mcludes exammmg, on a tcst baSIS, eVIdence about the ColqUItt County Board of EducatIOn's complIance With those reqUIrements and perfonnmg such otherproccdures as we conSIdered necessary m the cIrcumstances We belIeve that our audit proVIdes a reasonable basIS for our opIruon Our audIt does not proVide a lcgal determmatIon on ColqUItt County Board of EducatIon's complIance WIth those reqUlremcnts 
2002SA-10 
 
 In our OpiniOn, the ColqUItt County Board of EducatIOn complIed, In all matenal respects, With the reqUIrements referred to above that are applIcable to each of ItS major Federal programs for the year ended June 30, 2002. 
Internal Control Over Comphance 
The management of ColqUItt County Board of EducatIOn IS responsible for establIshing and maintaining effective Internal control over complIance With requirements of laws, regulatIons, contracts and grants applIcable to Federal programs In planning and performing our audit, we conSidered ColquItt County Board ofEducatIOn's Internal control over complIance With reqUirements that could have a direct and matenal effect on a major Federal program In order to dctermIne our auditing procedures for the purpose of expressing our opinion on complIance and to test and report on Internal control over complIance In accordance With OMB Circular A- I 33 
Our conSideration ofthe Internal control over complIance would not necessanly disclose all matters In the Internal control that might be matenal weaknesses A matcnal weakness IS a condItIOn In which the deSign or operatIOn ofone or more ofthe Internal control components does not reduce to a relatIvely low level ofnsk that noncomplIance With applIcable reqUIrements of laws, regulatIOns, contracts and grants that would be matenal In relatIOn to a major Federal program being audited may occur and not be detected Within a limely penod by employees In the normal course of performing their asSigned functIons We noted no matters inVOlVIng the Internal control over complIance and ItS operatIon that we conSider to be matenal weaknesses 
ThiS report IS Intended solely for the informatIon and use of thc management, members of the ColqUItt County Board ofEducatIOn, Federal awarding agencies and pass-through entItIes and IS not Intended to be and should not be used by anyone other than these specified parties 
~~~l~mbm~~ 
 
RWHas 2002SA-IO 
 
Rus 11 W Hinton State udltor 
 
 SECTION III AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS 
 
 COLOUITT COUNTY BOARD OF EDUCATION AUDITEE'S RESPONSE 
SUMMARY SCHEDULE OF PRIOR YEAR FINDINGS AND OUESTIONED COSTS YEAR ENDED JUNE 30, 2002 
 
PRIOR YEAR FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS 
 
FINDING CONTROL NUMBER AND STATUS 
 
FS-6351-00-01 FS-6351-01-01 
 
Further ActIOn Not Warranted Unresolved - See Corrective ActlOnlResponses 
 
CORRECTIVE ACTIONIRESPONSES 
 
GENERAL FIXED ASSETS Failure to Mamtam General FIxed Assets Account Group Fmdmg Control Nwnber. FS-6351-01 -01 
 
The School Dlstnct has decided not to pursue the recordmg of general fixed assets m the accounting records because of the cost related to gettmg these values established 
 
 SECTIONN FINDINGS AND QUESTIONED COSTS 
 
 COLOUITT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND OUESTIONED COSTS 
YEAR ENDED JUNE 30, 2002 
I SUMMARY OF AUDITOR'S RESULTS 
Type of Report Issued on the FmancIaI Statements The audItor's opmlOn on the ColqUItt County Board of Education's financIal statements was qualIfied for vanous departures from generally accepted accountmg pnnclples 
2 Reportable Condllions m Internal Control Disclosed by the Audit of the FmancIaI Statements The audIt report for the ColqUItt County Board ofEducalion disclosed a financIal statement reportable condllion related to the followmg control category 
General FIxed Assets 
The reportablc condItIon descnbed above IS consIdered to be a matenal weakness 
3 NoncomplIance Matenal to the FmancIaI Statements The audIt of the ColqUItt County Board of Educalion dIsclosed no mstances of noncomplIance that were deemed to be matenal to the financIal statements 
4. Reportable CondItIons m Internal Control Over MaJor Programs The audIt report for the ColqUitt County Board of EducatIOn did not dIsclose any reportable condItions m mternal control over major programs 
5. Type of Report Issued on Compliance for MaJor Programs The auditor's opimon on the ColqUItt County Board of Educallon's report on complIance WIth requirements applIcable to major programs was unqualIfied 
6 AudIt Fmdmgs Required to be Reported by Section 510(a) ofOMB CIrcular A-133 The ColqUItt County Board of Educal1on's audIt did not dIsclose audIt findmgs reqUIred to be reported by secl10n 510(a) ofOMB CIrcular A-l33. 
7 MaJOr Programs Federal awards audIted as major programs are as follows 10553 Food and Nutnlion Program - Food ServIces - School Brcakfast Program 10.555 Food and Nutnl10n Program - Food ServIces - Nallonal School Lunch Program 10.559 Food and NutnlJon Program - Food Services - Summcr Food ServIce Program for Children 84 348 Elementary and Secondary Educal10n Act - Title I - AccountabIlIty Grants 84 340 Elementary and Secondary EducatIon Act - TItle VI - Class Size ReductIOn 
8 Type "A" Program Dollar Threshold The dollar threshold for type "A" programs was $300,000 00 
-I- 
 
 COLOUITT COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND OUESTIONED COSTS 
YEAR ENDED JUNE 30, 2002 
I SUMMARY OF AUDITOR'S RESULTS 9 Low Risk Audltee 
The ColqUItt County Board of EducatIon qualified as a low nsk audltee as defined by Section 530 of OMB Circular A- I 33 " FINANCIAL STATEMENT FINDINGS AND OUESTIONED COSTS GENERAL FIXED ASSETS Failure to MaIntam General FIXed Assets Account Group Reportable ConditIon - Matenal Weakness Repeated from Pnor Year FIndIng Control Number FS-635 1-02-01 The ColqUItt County Board of EducatIon did not maIntaIn a system-wide General Fixed Assets Account Group WithIn the formal accountIng records as requued by generally accepted accountIng pnnclplcs Tlus conditIon results In the general-purpose financial statements ofthe School Dlstnct beIng Incomplete and not In accordance with generally accepted accountIng pnnclples Appropnate actIon should be taken by the School Dlstnct to establIsh accountIng controls and proccdures to prOVide for maIntenance of a General Fixed Assets Account Group These SUbSidiary records should Include an Inventory of land, bUIldIngs and eqUIpment owned by the School Dlstnct and should Include but may not be lImited to date acqUIred, acqUlslllon cost, esllmated replacement cost, locallon and descnpllon. Detailed records should be maIntained of all addJllons and deletIOns to the General Fixed Assets Account Group ill FEDERAL AWARD FINDINGS AND OUESTIONED COSTS No matters were reported 
-2-