Audit report, Columbia County Board of Education, Appling, Georgia, year ended June 30, 1996

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Collection:: Georgia Government Publications
Serial:: Columbia County Board of Education annual financial statements as of and for the year ended ... and reports of independent auditor.
Title:: Audit report, Columbia County Board of Education, Appling, Georgia, year ended June 30, 1996
Creator:: Georgia. Department of Audits
Publisher:: Atlanta, Ga. : Dept. of Audits and Accounts
Date of Original:: 1996-06-30
Subject:: Auditors' reports--Georgia
Financial statements--Georgia
Columbia County (Ga.). Board of Education--Appropriations and expenditures
Location:: United States, Georgia, Columbia County, 33.54412, -82.26406
Medium:: state government records
Type:: Text
Format:: application/pdf
Description:: Began with: Year ended June 30, 2021.
Report year covers fiscal year.
Likely issued by: Georgia. Department of Audits and Accounts although statements are prepared by a private accounting firm.
May be supplemented by: Salaries and travel reimbursement (Columbia County Board of Education, Columbia County, Ga.)
Year ended June 30, 2021, released 2022?; title from PDF cover (Georgia Government Publications database, viewed November 21, 2022).
Year ended June 30, 2021, released 2022?; (Georgia Government Publications database, viewed November 21, 2022).
External Identifiers:: Call Number GA A800 .R1 E26 C72 1995-96
Metadata URL:: https://dlg.galileo.usg.edu/id:dlg_ggpd_y-ga-ba800-b-pr1-be26-bc72-b1995-h96
Digital Object URL:: https://dlg.galileo.usg.edu/do:dlg_ggpd_y-ga-ba800-b-pr1-be26-bc72-b1995-h96
Language:: eng
Holding Institution:: University of Georgia. Map and Government Information Library
Rights:

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AUDIT REPORT COLUMBIA COUNTY BOARD OF EDUCATION
APPLING, GEORGIA YEAR ENDED JUNE 30, 1996

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

COLUMBIA COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS - OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

GENERAL AND SPECIAL REVENUE FUNDS

7

D

STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN RETAINED EARNINGS

PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND

8

E

STATEMENT OF CASH FLOWS

PROPRIETARY FUND TYPE -INTERNAL SERVICE FUND

9

F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

11

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

SCHEDULES

I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

36

2 CASH AND CASH EQUIVALENTS

38

3 INVESTMENTS

39

COLUMBIA COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

4 ACCOUNTS RECEIVABLE

41

5 DEBT SERVICE REQUIREMENTS TO MATURITY

42

SCHEDULE OF REVENUE

6

STATE

46

7

TAXES AND OTHER

47

SCHEDULE OF EXPENDITURES BY OBJECT

8

GENERAL AND SPECIAL REVENUE FUNDS

49

9

LOTTERY PROGRAMS

50

10

FIDUCIARY FUND TYPE

EXPENDABLE TRUST FUND

52

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

11

OVERALL

53

12

BY PROGRAM

54

13 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS

56

SECTION IT
COMPLIANCE
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS

COLUMBIA COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -
SECTION III INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

SECTION I FINANCIAL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members ofthe General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through F) of the Columbia County Board of Education, as of and for the year ended June 30, 1996, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
96ARL-13

* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should -.be included in the general purpose financial statements.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Columbia County Board of Education as of June 30, 1996, and the results of its operations and the cash flows of its proprietary fund for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated May 2, 1997, on our consideration of the Board's internal control structure and a report dated May 2, 1997, on its compliance with laws and regulations.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Columbia County Board ofEducation taken as a whole. The combining statements (Exhibits G through J) and the financial schedules (Schedules 1 through 13 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part ofthe general purpose financial statements of the Columbia County Board of Education. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
A copy of this report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24.
Res~

CLV:gp 96ARL-13

Claude L. Vickers State Auditor

COLUMBIA COUNTY BOARD OF EDUCATION - 1-

COLUMBIA COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30. 1996

Cash and Cash Equivalents
Investments
Accounts Receivable
Prepaid Items
Inventories Food Donated Commodities Purchased Food
Amount Available in Debt Service Fund
Amount to be Provided in Future Years For Payment of: Bond Debt Capital Lease Agreements

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$

279,563.44 $

506,684.54 $ 5,628,147.78

13,841,254.85

865,699.82

630,494.26

5,970,867.92

514,048.08

729,620.00

24,043.00

35,952.35 22,835.64

Total Assets

$ 20,115,729.21 $ 1,945,220.43 $ 6,988,262.04

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Capital Lease Agreements General Obligation Bonds Payable
Total Liabilities
FUND EQUITY
Retained Earnings Unreserved
Fund Balances Reserved For Capital Lease Purchases For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue For State Capital Outlay Projects
Unreserved Undesignated
Total Fund Balances
Total Fund Equity

$ 2,917,909.16 $ 6,790,501.01 3,026.79

114,359.09 $ 456,007.05
2,906.40

40,390.90
1,377,096.62 1,407,340.55

$ 9,711,436.96 $

573,272.54 $ 2,824,828.07

$ 226,135.00

$

71,309.81

$

71,309.81 $

10,332,982.44

$ 10,404,292.25 $

$ 10,404,292.25 $

35,952.35 22,835.64
$
284,922.99 $ 1,087,024.90 1,371,947.89 $ 1,371,947.89 $

4,161,147.97 2,286.00
4,163,433.97 0.00
4,163,433.97 4,163,433.97

Total Liabilities and Fund Equity
The notes to the general purpose financial statements are an integral part of this statement. -2 -

$ 20,115,729.21 $ 1,945,220.43 $ 6,988,262.04

EXHIBIT"A"

DEBT SERVICE
FUND

PROPRIETARY FUND TYPE INTERNAL
SERVICE FUND

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS (Memorandum Onl~l JUNE 30, 1996 JUNE 30, 1995

$

7,844.21 $

612,337.60 $

0.00

$ 7,034,577.57 $ 12,243,708.17

1,549,162.38

16,886,611.31

21,285,858.30

30,777.49

7,245,313.49

6,953,264.68

24,043.00

64,487.28

35,952.35 22,835.64

$

1,587,408.94

1,587,408.94

47,073.86 30,643.66
1,146,132.71

$ 1,587,784.08 $

612,337.60 $

54,767,591.06 2,208,898.10

54,767,591.06 2,208,898.10

57,283,867.29 965,754.29

0.00 $

58,563,898.10 $ 89,813,231.46 $ 100,020,790.24

$

375.14 $

95,055.55

$

375.14 $

95,055.55

$

517,282.05

$ 1,587,408.94

$ 1,587,408.94 0.00 $
$ 1,587,408.94 $ $ 1 587 408.94 $

0.00 $ 0.00 $ 517,282.05 $

$ 1,587,784.08 $

612,337.60 $

$ 3,168,089.84 $ 2,828,122.00

7,246,508.06

6,459,156.35

5,933.19

24,267.90

1,377,096.62

1,512,960.21

1,407,340.55

705,493.49

1,000.00

$

2,208,898.10

2,208,898.10

965,754.29

56,355,000.00 56,355,000.00

58,430,000.00

$

58,563,898.10 $ 71,768,866.36 $ 70,926,754.24

$

517,282.05 $

387,870.66

$

226,135.00

1,587,408.94 $

71,309.81

1,146,132.71 104,055.44

35,952.35 22,835.64 4,161,147.97
2,286.00

47,073.86 30,643.66 14,754,929.86 1 061 349.44

$ 6,107,075.71 $ 17,144,184.97

0.00

11,420,007.34

11,561,980.37

0.00

$ 17,527,083.05 $ 28,706,165.34

0.00

$ 18 044,365.10 $ 29,094,036.00

0.00 $

58,563,898.10 $ 89,813,231.46 $ 100,020,790.24

-3-

COLUMBIA COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND YEAR ENDED JUNE 30, 1996

REVENUES
State Funds Federal Funds Taxes and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Community Service Operations Other Operations of Non-Instructional Services
Capital Outlay Debt Service
Principal Interest Paying Agent Fees
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES)
Capital Leases Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under). Expenditures and Other Financing Uses
FUND BALANCE JULY 1

GENERAL FUND

GOVERNMENTAL FUND

SPECIAL REVENUE

CAPITAL PROJECTS

FUND

FUND

$ 47,647,446.14 $
441,632.12 23,189,495.33
$ 71,278,573.59 $

2,304,366.00 $
3, 196,862.88 2,388,985.58
7,890,214.46 $

7,546,921.76 680,419.56
8,227,341.32

$ 48,457,115.04 $ 4,231,355.17 $

64,205.89

2,424,232.26 1,680,264.79 1,834,207.18
688,541.82 4,351,516.96
864,565.73 5,500,948.85 3,328,114.26
403,447.25 1,422.92 6,225.37
47,735.94 6,387.42
383,628.08

406,148.94 234,310.78
109,875.71
120,630.32 27,971.22
32,638.59 4,323,633.84
15,315.44

39,565.59 20,526,415.17

875,163.78 54,339.21

$ 69,978,353.87 $ 10,431,383.00 $ 20,630,186.65 $ 1,300,219.72 $ -2,541,168.54 $ -12,402,845.33

$ 2,120,000.00

629,502.99

$

-725,079.05

$

-725,079.05 $ 2,749,502.99

$

575,140.67 $

208,334.45 $ -12,402,845.33

9,829,151.58

1,163,613.44

16,566,279.30

FUND BALANCE JUNE 30

$ 10,404,292.25 $ 1,371,947.89 $ 4,163,433.97

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

EXHIBIT"B"

TYPES.. DEBT
SERVICE FUND

TOTAL

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

TOTALS (Memorandum Only)
YEAR ENDED JUNE 30, 1996 JUNE 30, 1995

$ $ 5,804,005.16 $ 5,804,005.16 $

57,498,733.90 3,638,495.00
32,062,905.63 $
93,200, 134.53 $

$ 1,440.37

57,498,733.90 $ 3,638,495.00
32,064,346.00

46,860,120.29 2,962,387.53
30,702,111.19

1,440.37 $ 93,201,574.90 $ 80,524,619.01

$ 52,752,676.10 $

2,830,381.20 1,914,575.57 1,873,772.77
798,417.53 4,351,516.96
864,565.73 5,621,579.17 3,356,085.48
403,447.25 34,061.51
4,329,859.21 47,735.94 21,702.86
383,628.08 20,526,415.17

$ 2,075,000.00 3,279,037.50 8,691.43

2,950,163.78 3,333,376.71
8,691.43

$ 5,362,728.93 $ 106,402,652.45 $

$

441,276.23 $ -13,202,517.92 $

2,216.00 $ 52,754,892.10 $ 44,883,805.85

212.68

2,830,381.20 1,914,575.57 1,873,772.77
798,417.53 4,351,516.96
864,778.41 5,621,579.17 3,356,085.48
403,447.25 34,061.51
4,329,859.21 47,735.94 21,702.86
383,628.08 20,526,415.17

2,300,312.06 1,564,091.94 2,048,790.56
906,364.15 3,957,077.74
837,248.59 5,892,409.24 2,811,886.48
419,203.20 16,332.52
4,101,852.49 35,615.63 3,686.00
402,043.66 9,283,072.70

2,950,163.78 3,333,376.71
8,691.43

2,743,059.67 3,308,864.67
9,092.29

2,428.68 $ 106,405,081.13 $ 85,524,809.44

-988.31 $ -13,203,506.23 $ -5,000, 190.43

$

2,120,000.00

629,502.99

-725,079.05

$

2,024,423.94

$

441,276.23 $ -11,178,093.98 $

1,146,132.71

28,705,177.03

$

2,120,000.00 $

970,140.12

629,502.99

355,001.00

-725,079.05

-394,911.32

$

2,024,423.94 $

930,229.80

-988.31 $ -11, 179,082.29 $ -4,069,960.63

988.31

28,706,165.34

32,776,125.97

$ 1,587,408.94 $ 17,527,083.05 $====0=.0=0 $ 17,527,083.05 $ 28,706,165.34

-5-

THIS PAGE LEn BLANK

COLUMBIA COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 1996

EXHIBIT"C"

GENERAL FUND

BUDGET

ACTUAL

REVENUES

State Funds Federal Funds Taxes and Other Funds

$ 46,551,940.00 $ 47,647,446.14

140,000.00

441,632.12

22,841,515.00 23,189,495.33

Total Revenues

$ 69,533,455.00 $ 71,278,573.59

EXPENDITURES

Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Community Service Operations Other Operations of Non-Instructional Services
Debt Service

$ 48,490,897.00 $ 48,457,115.04

2,256,253.00 1,845,311.00 1,787,469.00
740,269.00 4,284,694.00
956,329.00 5,729,650.00 3,487,174.00
417,494.00 1,495.00
452,008.00

2,424,232.26 1,680,264.79 1,834,207.18
688,541.82 4,351,516.96
864,565.73 5,500,948.85 3,328,114.26
403,447.25 1,422.92 6,225.37
47,735.94 6,387.42
383,628.08

Total Expenditures

$ 70,449,043.00 $ 69,978,353.87

Excess of Revenues over (under) Expenditures

$ -915,588.00 $ 1,300,219.72

OTHER FINANCING SOURCES {USES)

Other Sources Other Uses

$ -200,000.00 $ -725,079.05

Total Other Financing Sources (Uses)

$ -200,000.00 $ -725,079.05

Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -1, 115,588.00 $

575,140.67

FUND BALANCE JULY 1, 1995

10,094,969.99

9,829,151.58

SPECIAL REVENUE FUND

BUDGET

ACTUAL

$ 2,129,924.00 $ 2,304,366.00

3,123,487.00

3,196,862.88

2,482,400.00

2,388,985.58

$ 7,735,811.00 $ 7,890,214.46

$ 4,549,792.00 $ 4,231,355.17

430,799.00 306,492.00

406,148.94 234,310.78

131,514.00 9,000.00

109,875.71

131,672.00 36,505.00

120,630.32 27,971.22

52,131.00 4,342,025.00
33,200.00

32,638.59 4,323,633.84
15,315.44

929,502.99

$ 10,023,130.00 $ 10,431,383.00

$ -2,287,319.00 $ -2,541, 168.54

$ 2,120,000.00 $ 2,749,502.99

$ 2,120,000.00 $ 2,749,502.99

$ -167,319.00 $ 208,334.45

1,151,601.50

1,163,613.44

FUND BALANCE JUNE 30, 1996

$ 8,979,381.99 $ 10,404,292.25

$ 984,282.50 $ 1,371,947.89

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

COLUMBIA COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS
PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND YEAR ENDED JUNE 30, 1996

EXHIBIT "D"

OPERATING REVENUES
Charges for Services
OPERATING EXPENSES
Current Supplies Other Purchased Services Workers' Compensation Claims
Total Operating Expenses Operating Income NONOPERATING REVENUES
Interest Earned Net Income (Loss) Before Operating Transfers from Other Funds
Operating Transfer from Other Funds Total Income
RETAINED EARNINGS - JULY 1

PROPRIETARY FUND TYPE INTERNAL SERVICE FUND

TOTALS (Memorandum Onll)
YEAR ENDED JUNE 30, 1996 JUNE 30, 1995

$ 116,565.22 $

116,565.22 $ 160,089.68

$

73.12 $

17,385.58

99,106.52

$ 116,565.22 $

$

0.00 $

73.12 $
17,385.58 99,106.52
116,565.22 $
0.00 $

60.96 11,585.51 148,443.21
160,089.68
0.00

33,835.33

33,835.33

20,293.87

$

33,835.33 $

95,576.06

$ 129,411.39 $

387,870.66

33,835.33 $
95,576.06
129,411.39 $
387,870.66

20,293.87 39,910.32 60,204.19 327,666.47

RETAINED EARNINGS - JUNE 30

$

517,282.05 $

517,282.05 $ 387,870.66

The notes to the general purpose financial statements are an integral part of this statement. -8-

COLUMBIA COUNTY BOARD OF EDUCATION STATEMENT OF CASH FLOWS
PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND YEAR ENDED JUNE 30. 1996

EXHIBIT"E"

Cash Flows from Operating Activities: Cash Received from Charges for Services Cash Paid for Other Purchased Services Cash Paid for Supplies Cash Paid for Workers' Compensation Claims
Net Cash Provided (Used) by Operating Activities
Cash Flows from Noncapital Financing Activities: Operating Transfers In
Cash Flows from Investing Activities: Interest Received on Investments
Net Increase (Decrease) in Cash
Cash and Cash Equivalents - July 1

PROPRIETARY FUND TYPE INTERNAL SERVICE FUND

TOTALS (Memorandum Onlt)
YEAR ENDED JUNE 30, 1996 JUNE 30, 1995

$

116,565.22 $

116,565.22 $ 160,089.68

-17,385.58

-17,385.58

-11,585.51

-73.12

-73.12

-60.96

-60,759.47

-60,759.47

-91,734.71

$

38,347.05 $

38,347.05 $

56,708.50

$

95,576.06 $

95,576.06 $

39,910.32

$

33,835.33 $

33,835.33 $

20,293.87

$

167,758.44 $

167,758.44 $ 116,912.69

444,579.16

444,579.16

327,666.47

Cash and Cash Equivalents - June 30

$ 612,337.60 $ 612,337.60 $ 444,579.16

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

$

38,347.05 $

38,347.05 $ - - -5-6,'7-08-.5-0

$

38,347.05 $

38,347.05 $ ====56=,7=0=8.=50=

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

THIS PAGE LEFT BLAHK

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Columbia County Board of Education (Board) was established under the laws ofthe State ofGeorgia and operates under the guidance of a school board and Superintendent, both elected by the voters. With the exception of the departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to governmental units and unless otherwise disclosed in these notes, the financial statements present all of the fund types and account groups of the Board. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards.
The more significant of the Board's accounting policies are described below.
REPORTING ENTITY
In evaluating how to define the governmental unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity of the Columbia County Board of Education.
Based upon the application ofthe above criteria, the Columbia County Board of Education is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in Columbia County, Georgia. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards.
Board members were elected by the public and have decision making authority, the power to designate management, except for the Superintendent who was also elected, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval.
FUND ACCOUNTING
The Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources.

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances ofthese accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, Taxes and Other funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - are used to account for all or most ofa Board's educational activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department ofEducation and from the Federal government to accomplish specific objectives and are required to be accounted for separately.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees.
PROPRIETARY FUND TYPE-the fund used to account for activities of the Board similar to those found in the private sector, where cost recovery and the determination ofnet income is useful or necessary for sound fiscal management. Internal service funds are a type of proprietary fund and are used to account for operations on a cost reimbursement basis that provide services to other funds or programs of the Board.
Internal Service Fund - the fund used to account for the Board's workers' compensation risk financing and insurance related activities.

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
FIDUCIARY FUND TYPE - the trust fund used to account for assets held by a government unit in a trustee capacity. This fund includes:
EXPENDABLE TRUST FUND Columbia County Trust Fund - the fund used to account for donations and earnings which may be expended for the New High School, Lakeside High School Athletic Stadium, General Educational Improvements and Evans High School Vocational Technical Programs.
ACCOUNT GROUP
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and material capital lease obligations.
BASIS OF ACCOUNTING
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources.
Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group.
Proprietary funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation of these funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets.
Governmental and expendable trust funds are accounted for using the modified accrual basis of accounting under which:
Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). "Measurable" means the amount ofthe transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants and investment income. Property taxes are considered available if they are collected and remitted by the collecting agent to the Board within 60 days after fiscal year-end.

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures are generally recognized when the related fund liability is incurred.
A substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August of 1995 and ending in early June 1996. Employment contracts for these employment periods typically specify that compensation be paid in twelve equal monthly payments beginning in September 1995 and ending in August 1996. State grants to fund the State's share of these contracts are disbursed to the Board in the same twelve month period. In accordance with generally accepted accounting principles, salary and fringe benefit expenditures and the related revenue from the State to fund these contracts are recorded in the fiscal period covered by these financial statements.
The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by proprietary funds. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred.
BUDGET
The Columbia County Board of Education's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The proprietary fund budget was prepared and utilized as a management tool to assess the operations ofthe internal services fund. The budget for governmental funds was prepared in accordance with generally accepted accounting principles.
The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper of general circulation in the locality. At the next regular meeting ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department of Education. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end.
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates ofdeposit, savings and N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial instirnt~ons located within this State.

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among avenues ofinvestment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(1) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services,
(7) Repurchase agreements, and
(8) Obligations of other political subdivisions of the State of Georgia.
RECEIVABLES
Receivables consist of grant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.
PROPERTY TAXES
The Columbia County Board of Commissioners fixed the property tax levy for the 1995 tax year (calendar year) on September 19, 1995 (levy date). Taxes were due on November 29, 1995. The lien date for property taxes was January 1, 1995. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1996 since their collection meets the criteria of GASB codification section P70.103. The Columbia County Tax Commissioner bills and collects the property taxes for the Board of
- 15 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1996

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. In addition, the Clerk of the Superior Court of Columbia County collects intangible recording taxes for the Board of Education, withholds 6.0% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board.

Tax millage rates levied for the 1995 tax year (calendar year) for the Columbia County Board of Education were as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations School Bonds

14.76 mills 3.75 mills

18.51 mills

INVENTORIES

FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost (first-in, first-out). The Board uses the consumption method to account for both inventories. Donated food commodities are recorded as an asset and as revenue when received, and expenditures are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenditures are recorded as the inventory items are used. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations offund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.

PREPAID ITEMS

Payments made to vendors for services that will benefit periods subsequent to June 30, 1996, are recorded as prepaid items.

COMPENSATED ABSENCES

Compensated absences represent obligations of the Board relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been recorded in the individual funds for the current portion of this obligation as this amount is deemed immaterial to the general purpose financial statements.

Additionally, the dollar value of accumulated compensated absences at June 30, which will be payable from future resources has not been recorded in the General Long-Term Debt Account Group as this liability is also deemed to be immaterial to the fair presentation of these financial statements.

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1996

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL OBLIGATION BONDS
The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. Bond premiums and discounts, as well as issuance costs, are recognized during the year bonds are issued. Issuance costs, whether or not withheld from actual net proceeds, are reported as capital project expenditures. In addition, general obligation bonds have been issued to refund existing general obligation bonds. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group.
INTERFUND TRANSACTIONS
The Board has the following types of interfund transactions:
Reimbursements of expenditures/expenses initially made from a fund that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed.
Operating transfers are recorded for all interfund transactions other than reimbursements.
MEMORANDUM ONLY -TOTAL COLUMNS
Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.
Note 2: DEPOSITS AND INVESTMENTS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance, or by collateral. The aggregate of the face value of such surety bond and the market value of securities shall be equal to not less than 110 percent ofthe public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.

- 17 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 2: DEPOSITS AND INVESTMENTS
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws ofthe State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 1996, the bank balances were $9,487,056.11. The amounts of the total bank balances are classified into three categories of credit risk:
Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name.
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name.
Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.)

- 18 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1996

Note 2: DEPOSITS AND INVESTMENTS

The Board's deposits are classified by risk category at June 30, 1996, as follows:

Risk Category

Bank Balance

1

$ 500,000.00

2

7,669,301.78

3

1.317. 754.33

Total

$ 9,487,056.11

CATEGORIZATION OF INVESTMENTS At June 30, 1996, the carrying amount of the Board's total investments was $16,886,611.31 and consisted entirely of funds invested in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required tobe categorized since the Board did not own any specific identifiable securities in the pool. The investment policy of the State of Georgia, Office of Treasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments.

Note 3: NON-MONETARY TRANSACTIONS

The Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories

Note 4: RISK MANAGEMENT

The Board is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors or omissions; job related illness or injuries to employees; natural disaster; and unemployment compensation.

The Board participates in the Georgia School Boards Association Risk and Insurance Management System, a public entity risk pool organized on July 1, 1994 to develop and administer a plan to reduce risk of loss on account ofgeneral liability, motor vehicle liability, or property damage, including safety engineering and other loss prevention and control techniques, and to administer one or more groups of self-insurance funds, including the processing and defense of claims brought against members of the system. The Board pays an annual premium to the system for its general insurance coverage. Additional coverage is provided through agreements by the system with two companies according to their specialty for property, boiler and machinery, general liability and automobile risks. Payment of excess insurance for the system varies by line of coverage. Property and blanket bond coverage was purchased to cover 100% of specific losses in excess of$100,000.00 per occurrence, up to $100,000,000.00 for each occurrence. Boiler and machinery coverage was purchased

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 4: RISK MANAGEMENT

to cover 100% of specific losses in excess of$100,000.00 per occurrence. General liability coverage was purchased to cover 100% of specific losses in excess of $250,000.00 per occurrence. Auto liability was purchased to cover 100% of specific losses in excess of $100,000.00 per occurrence after member deductible.

The Board has established a limited risk management program for workers' compensation claims. A premium is charged by the Internal Service Fund to the General Fund to cover actual claims and to build a level of retained earnings. A premium is charged by the Internal Service Fund to the Special Revenue Fund - School Food Services Fund to cover actual claims. The Board accounts for claims with expense and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. These losses include an estimate of claims that have been incurred but not reported. An excess coverage insurance policy covers individual claims in excess of $250,000.00 loss per occurrence, up to the statutory limit.

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

1995 1996

Beginning ofYear Liability

Claims and Changes in Estimates

$

0.00 $ 148,443.21 $

$

56,708.50 $

99,106.52 $

Claims Paid

End of Year Liability

91,734.71 $ 60,759.47 $

56,708.50 95,055.55

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

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

1995 1996

Beginning of Year Liability

Claims and Changes in Estimates

$

0.00 $

0.00 $

$

0.00 $

5,874.00 $

Claims Paid

End ofYear Liability

0.00 $

0.00

5,874.00 $

0.00

Note 5: OPERATING LEASES

The Columbia County Board of Education has entered into various leases as lessee for office equipment and modular classrooms. These leases are considered for accounting purposes to be operating leases. L~ase expenditures for the year ended June 30, 1996, amounted to $28,124.00. Future minimum lease payments for these leases are as follows:

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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 5: OPERATING LEASES

Year Ending

Amount

1997

Note 6: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Columbia County Board of Education has entered into various lease agreements as lessee for office equipment and buses. These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value of the future minimum lease payments as of the date of their inception.

GENERAL OBLIGATION BONDS OUTSTANDING General Obligation Bonds currently outstanding are as follows:

Purpose

Interest Rates

Amount

General Government - Series 1976 General Government - Refunding - Series 1986 General Government - Series 1990 General Government - Series 1991 General Government - Refunding - Series 1992 General Government - Refunding - Series 1993 General Government - Refunding - Series 1994 General Government - Series 1994A

6.1% - 6.2% 6.6%-7.2% 6.700% - 7.375% 6.0%-7.0% 4.5%- 6.0% 3.45% - 4.90% 4.0%-5.2% 4.65% - 7.00%

$ 4,280,000.00 1,485,000.00 670,000.00 1,170,000.00 7,375,000.00 9,030,000.00 9,735,000.00
22,610,000.00

$56,355,000.00

The changes in General Long-Term Debt during the fiscal year ended June 30, 1996, were as follows:

Capital Leases

General Obligation
Bonds

Total

Balance July 1, 1995

$ 965,754.29 $58,430,000.00 $59,395,754.29

Additions

2,120,000.00

2,120,000.00

Deductions Payments

876,856.19 2,075,000.00 2,951,856.19

Balance June 30, 1996

$ 2,208,898.10 $56,355,000.00 $58,563,898.10

- 21 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 6: GENERAL LONG-TERM DEBT

At June 30, 1996, payments due, by fiscal year which includes principal and interest for these items are as follows:

Fiscal Year Ended June 30

Capital Leases

General Obligation
Bonds

Total Debt

1997 1998 1999 2000 2001 2002 and thereafter

$ 824,684.05 $ 5,419,772.50 $ 6,244,456.55 608,651.86 5,511,847.50 6,120,499.36 566,419.09 5,588,567.50 6,154,986.59 465,250.54 5,681,782.50 6,147,033.04 5,857,370.00 5,857,370.00 58,652,935.00 58,652,935.00

Total Principal and Interest

$ 2,465,005.54 $86.712,275.00 $89,177,280.54

Deduct: Imputed Interest

256,107.44

Net Present Value of Future Minimum Lease Payments

$ 2,208,898.10

Note 7: PRIOR YEAR DEFEASEMENT OF DEBT

In fiscal year 1993, the Board defeased certain general obligation bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the Board's general purpose financial statements. AtJune 30, 1996, $15,595,000.00 ofbonds are outstanding and are considered defeased.

Note 8: ON-BEHALF PAYMENTS

The Board has recognized revenues and expenditures in the amount of $1,096,936.70 for health insurance and retirement contributions paid on the Board's behalf by the following State Agencies.

Georgia Department of Education Paid to the State Merit System of Personnel Administration For Health Insurance of Non-Certified Personnel In the amount of $881,867.51

- 22 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 8: ON-BEHALF PAYMENTS

Paid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost
In the amount of$29,422.19

Office of Treasury and Fiscal Services Paid to the Public School Employees Retirement System For Public School Employees Retirement (PSERS) Employer's Cost
In the amount of $185,647.00

Note 9: SIGNIFICANT COMMITMENTS

The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1996.

Project

Unearned Executed Contracts

Harlem High School Athletic Stadium New Columbia County Elementary School #1 New Columbia County Elementary School #2 New Columbia Middle/High School New High School Athletic Stadium Washington Road Multi-Campus Site Development

$ 176,944.66 109,616.12 705,154.12
1,266,999.69 82,807.90
287,878.49

$ 2,629,400.98

The amounts described in this note are not reflected in the general purpose financial statements.

Note 10: CONTINGENT LIABILITIES

Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position.

Note 11: SUBSEQUENT EVENT

On March 18, 1997, the voters of Columbia County voted in favor of a Special Purpose Local Option Sales Tax referendum for educational purposes. The imposition of the tax and issuance of debt approved by the voters, as stated on the Official Ballot of Columbia County, are as follows:

- 23 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 11: SUBSEQUENT EVENT
"Shall a one percent sales and use tax be imposed in Columbia County for a period oftime not to exceed five years for the raising of not more than $22,363,567 for the purpose of capital outlay projects for educational purposes including the acquisition, construction and equipping of schools, school additions, school sites, computers, stadium renovations and school buses and for the raising ofnot more than $29,636,433 to retire previously incurred general obligation debt with respect to capital outlay projects ofthe Columbia County School District. If imposition of the Tax is approved by the voters, such vote shall also constitute approval of the issuance of general obligation debt of the Columbia County School District in the principal amount of $9,000,000 for the above purpose."
Note 12: ACCUMULATED EMPLOYEES' LEAVE
The Board's administrative staff and certain other full-time employees earn one day per month of annual leave. Annual leave may be accumulated to a maximum of 20 days, and upon retirement or termination of employment an amount based on unused leave, up to the maximum accumulation, is paid to employees at the employees rate of pay at the time of termination or retirement. See Note 1 - Compensated Absences
Note 13: RETIREMENT PLANS
TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS)
TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System of Georgia (TRS), which is a cost-sharing multiple employer public employee retirement system (PERS).
TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. A member is eligible for service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the memb_er's beneficiary had the member retired on the date ofdeath on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 1Oyears of service) and compensation up to the time of disability or death.
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COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30. 1996

Note 13: RETIREMENT PLANS

Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest.

The Board's payroll for employees covered by TRS for the year ended June 30, 1996, was $43,792,928.51; total payroll was $50,367,814.04.

TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. For fiscal year 1996 that rate for employer contributions was 11.81 %. The interest rate assumption (rate of return on investments) was 7.50%.

Total contributions made during fiscal year 1996 amounted to $7,361,600.10, of which $5,171,941.06 was made by the Board and $2,189,659.04 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll.

TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure of the pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers.

Total unfunded pension benefit obligation ofTRS as of June 30, 1995, was as follows:

Total pension benefit obligation

$17,442,607,000.00

Net assets available for benefits, at cost

15,857,066,000.00

Unfunded pension benefit obligation

$ 1,585,541,000.00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1995. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers.

- 25 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 13: RETIREMENT PLANS
Total contributions from all employers to TRS for fiscal year ended June 30, 1996 were $607,275,000.00. The Board's contribution for the year ended June 30, 1996 of $5,171,941.06 was actuarially determined and represented .8517% of total contributions made by all participating employers.
Ten year historical trend information is presented in the 1996 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.
PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)
PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute.
PSERS provides, in accordance with State statute, service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment of age 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death.
Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number of years of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting of employer contributions occurs, but the member's contributions are refunded with interest.
There were 471 employees covered under PSERS for the year ended June 30, 1996.
PSERS CONTRIBUTIONS REQUIRED AND MADE Covered empl~yees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to m_ake employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees of the Board made during fiscal year 1996 amounted to $15,432.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1996, was $9,817,769.80.
-26 -

COLUMBIA COUNTY BOARD OF EDUCATION

EXHIBIT "F"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1996

Note 14: SURETY BONDS
Dr. Lynn Cadle, School Superintendent through November 30, 1996, was bonded in the amount of$50,000.00 with the American Manufacturers Mutual Insurance Company, Long Grove, Illinois, their Bond No. 3SE877830-02.
The School Superintendent, Dr. Thomas E. Dohrmann, effective December 1, 1996, is bonded in the amount of$50,000.00 with the American Manufacturers Mutual Insurance Company, Long Grove, Illinois, their Bond No. 3SE904216, on which premium is paid through June 30, 1997.

- 27 -

COLUMBIA COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPEQIALREVENYEFUND JUNE 30. 1996

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

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

EDUCATION OF CHILDREN WITH
DISABILITIES

ELEMENTARY AND SECONDARY EDUCATION ACT

TITLE I

GRANTS TO

STATE

TITLE II

LOCAL

PROGRAM

EISENHOWER

EDUCATIONAL IMPROVEMENT PROFESSIONAL

AGENCIES

GRANTS

DEVELOPMENT

$ 393,907.57 $ 174,711.98 $

5.25

$

2,922.77 $

0.00

865,699.82

33,033.81

213,196.00

$ 127,353.89

35,952.35 22,835.64

Total Assets

$ 1,351,429.19 $ 387,907.98 $

5.25 $ 127,353.89 $

2,922.77 $

0.00

LIABILITIES AND FUND EQUITY

LIABILITIES

Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable

$ 15,383.24 $ 44,570.00 190,233.06 117,202.98 $

$ 5.25

3,309.79 34,856.05 $ 89,188.05

21.62 2,901.15

Total Liabilities

$ 205,616.30 $ 161,772.98 $

5.25 $ 127,353.89 $

2,922.77

FUND EQUITY

Fund Balances Reserved For Capital Lease Purchases For Inventories Food Donated Commodities Purchased Food

$ 226,135.00
$ 35,952.35 22,835.64

Unreserved Undesignated

$ 58,787.99 $ 226,135.00

1,087,024.90

0.00 $

0.00 $

0.00 $

0.00 $

0.00

Total Fund Equity

$ 1,145,812.89 $ 226,135.00 $

0.00 $

0.00 $

0.00 $

0.00

Total Liabilities and Fund Equity

$ 1,351,429.19 $ 387,907.98 $

5.25 $ 127,353.89 $

2,922.77 $

0.00

See notes to the general purpose financial statements.

- 28-

EXHIBIT"G"

TITLEVI INNOVATIVE EDUCATION PROGRAM STRATEGIES

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

PARTS

SPECIAL EDUCATION

FLOW

THROUGH

PRESCHOOL

SAFE AND DRUG-FREE SCHOOLS

JOB TRAINING PARTNERSHIP
ACT

TOTALS JUNE 30, 1996 JUNE 30, 1995

$

0.00

$ 571,547.57 $ 479,662.69

865,699.82

818,694.47

$ 103,722.38 $

15,458.74 $ 14,175.56 $

7,107.70

514,048.08

203,170.09

35,952.35 22,835.64

47,073.86 30,643.66

$

0.00 $ 103,722.38 $

15,458.74 $ 14,175.56 $

7,107.70 $ 2,010,083.46 $ 1,579,244.77

$ 48,233.21 $ 13,585.83 41,903.34
$ 103,722.38 $

192.18 $ 3,682.50 11,584.06

9,330.89 $ 1,332.85 3,511.82

15,458.74 $ 14,175.56 $

3,796.96 $ 927.00
2,383.74
7,107.70 $

64,863.03 $ 114,359.09 456,007.05
2,906.40
638,135.57 $

41,566.79 66,878.60 292,596.32 14,589.62
415,631.33

$ 226,135.00

35,952.35 $ 22 835.64

47,073.86 30,643.66

$ 284,922.99 $

77,717.52

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00 1,087,024.90 1,085,895.92

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00 $ 1,371,947.89 $ 1,163,613.44

$

0.00 $ 103,722.38 $

15,458.74 $ 14,175.56 $

7,107.70 $ 2,010,083.46 $ 1,579,244.77

- 29 -

COLUMBIA COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
SPECIAL REVENUE FUND YEAR ENDED JUNE 30, 1996

SCHOOL FOOD
SERVICES FUND

LOTTERY PROGRAMS

EDUCATION OF CHILDREN WITH
DISABILITIES

ELEMENTARY AND SECONDARY EDUCATION ACT

TITLE!

GRANTS TO

STATE

TITLEII

LOCAL

PROGRAM

EISENHOWER

EDUCATIONAL IMPROVEMENT PROFESSIONAL

AGENCIES

GRANTS

DEVELOPMENT

REVENUES

State Funds Federal Funds Taxes and Other Funds

$ 320,628.00 $ 1,612,223.94 2,364,867.00

1,983,738.00 $
24,118.58

2,362.75 $ 805,055.20 $

12,098.85 $

61,021.56

Total Revenues

$ 4,297,718.94 $ 2,007,856.58 $

2,362.75 $ 805,055.20 $

12,098.85 $

61,021.56

EXPENDITURES

Current Instruction Support Servit:es Pupil Services Improvement of Instructional Services Educational Media Services General Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations
Capital Outlay Debt Service
Principal Interest

$ 3,217,503.70 $

192,793.23

12,787.86

18,069.57

120,630.32 24,975.00

$ 4,315,519.49

6,847.55 8,114.35

875,163.78 54,339.21

2,239.00 $ 78.55
45.20

652,861.07 $ 585.54
71,316.51 58,634.18

1,768.86 19,889.04

2,540.91 7,557.94 $
2,000.00

60,120.62 900.94

Total Expenditures

$ 4,315,519.49 $ 4,531,224.57 $

2,362.75 $ 805,055.20 $

12,098.85 $

61,021.56

Excess of Revenues over (under)

Expenditures

$ -17,800.55 $ -2,523,367.99 $

0.00 $

0.00 $

0.00 $

0.00

OTHER FINANCING SOURCES

Capital Leases Operating Transfers In

$ 2,120,000.00 629,502.99

Total Other Financing Sources

$ 2,749,502.99

Excess of Revenues and Other Financing

Sources over (under) Expenditures

$ -17,800.55 $ 226,135.00 $

0.00 $

0.00 $

0.00 $

0.00

FUND BALANCE JULY 1

1,163,613.44

0.00

0.00

0.00

0.00

0.00

FUND BALANCE JUNE 30

$ 1,145,812.89 $ 226,135.00 $

0.00 $

0.00 $

0.00 $

0.00

See notes to the general purpose financial statements.

- 30-

EXHIBIT"H"

TITLE VI INNOVATIVE EDUCATION PROGRAM STRATEGIES

INDIVIDUALS WITH

DISABILITIES EDUCATION ACT

PARTB

SPECIAL EDUCATION

FLOW

THROUGH

PRESCHOOL

SAFE AND DRUG-FREE SCHOOLS

JOB TRAINING PARTNERSHIP
ACT

TOTALS YEAR ENDED JUNE 30, 1996 JUNE 30, 1995

$

71,680.00 $ 449,722.38 $

$

71,680.00 $ 449,722.38 $

92,078.74 $ 47,841.56 $ 92,078.74 $ 47,841.56 $

$ 42,777.90

2,304,366.00 $ 1,775,778.81 3,196,862.88 2,747,089.54 2,388,985.58 2,215,468.83

42,777.90 $ 7,890,214.46 $ 6,738,337.18

$ 224,342.40 $

165,940.25

$

66,211.05

16,316.80

1,566.95

27,807.49

3,902.00

15,315.44

$

71,680.00 $ 449,722.38 $

$

0.00 $

0.00 $

90,317.55 $

$ 46,751.37

1,761.19

1,090.19

92,078.74 $ 47,841.56 $

41,550.54 $ 4,231,355.17 $ 1,795,495.82

406,148.94

403,717.63

234,310.78 109,875.71

107,634.68 362,993.45
86,984.19

1,227.36

120,630.32 27,971.22
32,638.59 4,323,633.84
15,315.44

16,048.99 9,260.90 5,000.00
16,049.77 4,093,772.22
2,531.50 8,281.44

875,163.78 54,339.21

42,777.90 $ 10,431,383.00 $ 6,907,770.59

0.00 $

0.00 $

0.00 $ -2,541, 168.54 $ -169,433.41

$

0.00 $

0.00 $

0.00

0.00

0.00 $ 0.00

0.00 $ 0.00

$ 2,120,000.00 629,502.99
$ 2,749,502.99

0.00 $ 208,334.45 $ -169,433.41

0.00

1,163,613.44 1,333,046.85

$

0.00 $

0.00 $

0.00 $

0.00 $

0.00 $ 1,371,947.89 $ 1,163,613.44

- 31 -

COLUMBIA COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1996

ASSETS Cash and Cash Equivalents Investments Accounts Receivable

REGULAR

1994 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND INVESTMENT
COMMISSION PROJECT 94-636-026

$

0.00 $ 5,058,592.09 $

569,555.69

630,494.26

729,620.00

Total Assets

$====o==.o=o $ 5,689,086.35 $===1,=29=9=,1=7==5=.6==9

LIABILITIES AND FUND EQUITY
LIABILITIES
Accounts Payable Contracts Payable Retainages Payable
Total Liabilities
FUND EQUITY
Fund Balances Reserved For Purposes of Bond Issue For State Capital Outlay Projects
Unreserved Undesignated
Total Fund Equity

$ 40,390.90 723,232.13 $ 764,315.35
$ 1,527,938.38 $

653,864.49 643,025.20
1,296,889.69

$ 4,161,147.97 $

$ 4,161,147.97 $

$

0.00

0.00

$

0.00 $ 4,161,147.97 $

2,286.00 2,286.00
0.00 2,286.00

Total Liabilities and Fund Equity

$ =====0=.O=O $ 5,689,086.35 $ ===1,=29=9=,1=7=5.=6=9

See notes to the general purpose financial statements.

- 32-

EXHIBIT"I"

LOTTERY

PROJECT

PROJECT

96/95S-636-021 96/95S-636-023

TOTALS JUNE 30, 1996 JUNE 30, 1995

$

0.00 $

0.00 $ 5,628,147.78 $ 8,493,596.94

630,494.26

9,018,875.51

729,620.00

1,274,788.55

$

o.oo $====o=.o=o $ 6,988,262.04 $ 1a,1a1,261.oo

$

40,390.90 $

1,377,096.62

1,407,340.55

2,528.00 1,512,960.21
705,493.49

$ 2,824,828.07 $ 2,220,981.70

$ 4,161,147.97 $ 14,754,929.86

2,286.00

1,061,349.44

$ 4,163,433.97 $ 15,816,279.30

$

0.00 $

0.00

0.00

750,000.00

$

0.00 $

0.00 $ 4,163,433.97 $ 16,566,279.30

$

o.oo $====o=.o=o $ 6,988,262.04 $ 1a,1a1,261.oo

- 33 -

COLUMBIA COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1996

REVENUES
State Funds Taxes and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Supplies Equipment Support Services Educational Medial Services Supplies Books, Textbooks and Periodicals Equipment
Capital Outlay Salaries Employee Benefits Repairs and Maintenance Services Professional and Technical Services Land and Land Improvements Building and Building Improvements Equipment
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES)
Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1

REGULAR

1994 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND INVESTMENT
COMMISSION PROJECT 94-636-026

$

0.00

$

5,400,585.76

$

680,419.56

$

0.00 $

680,419.56 $

5,400,585.76

$

0.00 $

23,943.53

40,262.36

27,994.69 7,649.87 3,921.03

300,255.32 $ 83,525.69
10,143,609.96 462,137.00

225,509.14
9,302,238.06 9,140.00

$

0.00 $ 11,093,299.45 $

9,536,887.20

$

0.00 $ -10,412,879.89 $

-4 136,301.44

$ $ -750,000.00

2,663,965.19 $ -2,844,867.19

$ -750,000.00 $

-180,902.00 $

3,279,931.19 3,279,931.19

$ -750,000.00 $ -10,593,781.89 $

750,000.00

14,754,929.86

-856,370.25 858,656.25

FUND BALANCE JUNE 30 See notes to the general purpose financial statements.

$
- 34-

=========== 0.00 $ 4,161,147.97 $

2,286.00

EXHIBIT"J"

LOTTERY

PROJECT

PROJECT

96/95S-636-021 96/95S-636-023

TOTALS YEAR ENDED JUNE 30, 1996 JUNE 30, 1995

$

1,754,778.00 $ 391,558.00 $ 7,546,921.76 $ 1,960,610.24

680,419.56

1,386,067.21

$

1,754,778.00 $ 391,558.00 $ 8,227,341.32 $ 3,346,677.45

$

0.00 $

0.00 $

23,943.53

40,262.36

27,994.69 7,649.87 3,921.03

$
525,764.46 83,525.69
19,445,848.02 471,277.00

2,343.69 170.87
1,357.05 1,173,143.01
121,642.32 7,976,134.32

$

0.00 $

0.00 $ 20,630,186.65 $ 9,274,791.26

$

1,754,778.00 $ 391,558.00 $ -12,402,845.33 $ -5,928, 113.81

$ 5,943,896.38 $ 2,129,605.29

$ -1,913,965.19 $ -435,064.00

-5,943,896.38

-1,774,604.29

$ -1,913,965.19 $ -435,064.00 $

0.00 $

355,001.00

$

-159,187.19 $

-43,506.00 $ -12,402,845.33 $ -5,573, 112.81

159,187.19

43,506.00

16,566,279.30 22,139,392.11

$

0.00 $

0.00 $ 4,163,433.97 $ 16,566,279.30

- 35-

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30, 1996

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
Agriculture, U.S. Department of Through Georgia Department of Education Food and Nutrition Program Child and Adult Care Food Program 1996 Contract Food Services School Breakfast Program 1996 Grant National School Lunch Program 1996 Grant Food Distribution Program (1)
Total U.S. Department of Agriculture
Education, U.S. Department of Direct P. L. 81-874 1996 Grant Through Georgia Department of Education Elementary and Secondary Education Act Title I Education of Children with Disabilities in State Operated or Supported Schools 1996 Grant Grants to Local Educational Agencies 1996 Grant State Program Improvement Grants 1996 Grant Title II Eisenhower Professional Development 1995 Regular 1996 Grant Title VI Innovative Education Program Strategies 1996 Grant Innovative Education Program 1996 Grant Individuals with Disabilities Education Act Part B - Special Education Flow Through 1996 Grant Preschool 1996 Grant Safe and Drug-Free Schools 1996 Grant Vocational Education - Basic Grants to States High School Program Basic Grant 1996 Grant Consumer and Homemaking Education 1996 Grant Tech-Prep Education 1996 Grant
Total U. S. Department of Education

CFDA NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

10.558 $

11,475.30

(2)

10.553

196,498.28

* 10.555 * 10.550

1,060,447.43 $ 343,802.93

$ 1,612,223.94 $

(2)
3,960,571.15 (3) 354,948.34
4,315,519.49

84.041 $ 134,583.00

(5)

84.009 * 84.010
84.218
84.281 84.281
84.298 84.298

2,362.75 $ 805,055.20
12,098.85

2,362.75 805,055.20
12,098.85

18,225.56 42,796.00

18,225.56 42,796.00

71,680.00 4,329.00

71,680.00 4,931.75 (3)

* 84.027 84.173 84.186

449,722.38 92,078.74 47,841.56

449,722.38 92,078.74 47,841.56

- 36 -

84.048

115,732.60

84.049

326.00

84.243

68,646.49

$ 1,865,478.13 $

(4) (4) (4) 1,546,792.79

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30, 1996

SCHEDULE "1"

FUNDING AGENCY PROGRAM/GRANT
Labor, U. S. Department of Through East Central Georgia Consortium Job Training Partnership Act 09-94-20-13-073 09-95-16-48-073
Total U.S. Department of Labor
OTHER FEDERAL ASSISTANCE
Defense, U. S. Department of Direct Department of the Army R.O.T.C. Program 1996 Grant National Science Center 1996 Contract
Total U. S. Department of Defense
Total Federal Financial Assistance

CFDA NUMBER

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

17.250 $ 17.250
$

17,829.05 $ 24,948.85
42,777.90 $

17,829.05 24,948.85
42,777.90

$ 111,405.77 6,609.26 $
$ 118,015.03 $

(4) 6,609.26 6,609.26

$ 3,638,495.00 $ 5,911,699.44

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

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the Child and Adult Care Food Program and the School Breakfast Program were not maintained separately and are included in the 1996 National School Lunch Program.
(3) Expenditures for this program include State and/or Other Funds. Expenditures are not maintained by fund source.
(4) Expenditures on this program were not maintained by fund source. (5) Funds earned on this program do not require reporting of expenditures.

See notes to the general purpose financial statements.

- 37 -

COLUMBIA COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1996

SCHEDULE "2"

NONINTEREST BEARING ACCOUNTS
First Union National Bank, Martinez, Georgia
INTEREST BEARING ACCOUNTS
Allied Bank and Trust, Thomson, Georgia
Certificate of Deposit No. 01-0007496 (4.75%) Super N.O.W. Account (2.25%) VIP Checking (2.25%)
First Union National Bank, Thomson, Georgia
Overnight Sweep Account (4.72%) Lease Purchase Agreement Escrow Account (Variable)
Georgia Bank and Trust, Augusta, Georgia
Certificates of Deposit No. 403101681 (6.25%) No. 403102292 (5.50%)
Super N.O.W. Account (2.35%)
Sun Trust Bank, Augusta, Georgia
Money Market Accounts (5.38%)

$ -2, 191,557.59

$ 20,899.63 364,991.37 371,770.94
2,359,000.00 226,135.00

332,556.89 211,376.41
68,404.30

5,271,000.62

9,226,135.16

$ 7,034,577.57

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

COLUMBIA COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30. 1996
INVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (5.361%)

SCHEDULE "3" $ 16,886,611.31

See notes to the general purpose financial statements. - 39 -

THIS PAGE LEFT BLAHK

COLUMBIA COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30. 1996

SCHEDULE "4"

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTAL

Administrative Services, Georgia Department of Distant Learning/Telemedicine Grant

$

4,000.00

$

4,000.00

Clerk of the Superior Court of Columbia County County Wide Bond Tax County Wide School Tax

42,630.26

$ 10,830.14

10,830.14 42,630.26

Columbia County Tax Commissioner County Wide Bond Tax County Wide School Tax

78,105.86

19,947.35

19,947.35 78,105.86

Defense, U.S. Department of Department of the Army R.O.T.C. Program National Science Center

28,179.27 6,609.26

28,179.27 6,609.26

East Central Georgia Consortium Job Training Partnership Act

$ 7,107.70

7,107.70

Education, Georgia Department of Quality Basic Education Deferred Summer Salaries Fiscal Year 1996 Food Services School Breakfast Program National School Lunch Program Vocational Education State Other State Programs At-Risk Summer School Program Innovative Programs Remedial Summer School Program Federal Programs Elementary and Secondary Education Act Title I Grants to Local Educational Agencies Individuals with Disabilities Education Act Part B - Special Education Flow Through Preschool Safe and Drug-Free Schools

5,777,092.00
3,940.34 14,457.79 4,860.00
5,159.16

5,145.32 27,888.49

127,353.89
103,722.38 15,458.74 14,175.56

5,777,092.00 5,145.32
27,888.49 3,940.34
14,457.79 4,860.00 5,159.16
127,353.89
103,722.38 15,458.74 14,175.56

Georgia State Financing and Investment Commission Reimbursement on Construction Projects

$ 729,620.00

729,620.00

Office of School Readiness Pre-Kindergarten Program

213,196.00

213,196.00

Various Sources Other

5,833.98

5,833.98

$ 5,970,867.92 $ 514,048.08 $ 729,620.00 $ 30,777.49 $ 7,245,313.49

See notes to the general purpose financial statements.

- 41 -

PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30
1997 1998 1999 2000 2001
2002 2003 2004 2005 2006
2007 2008 2009 2010 2011
2012 2013

COLUMBIA COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1996

TOTAL DEBT SERVICE

TOTAL INTEREST

TOTAL PRINCIPAL

$ 5,419,772.50 $ 3,159,772.50 $ 2,260,000.00

5,511,847.50

3,026,847.50

2,485,000.00

5,588,567.50

2,878,567.50

2,710,000.00

5,681,782.50

2,746,782.50

2,935,000.00

5,857,370.00

2,607,370.00

3,250,000.00

5,959,100.00 6,045,530.00 6,145,085.00 6,249,162.50 5,771,257.50

2,449,100.00 2,275,530.00 2,085,085.00 1,874,162.50 1,641,257.50

3,510,000.00 3,770,000.00 4,060,000.00 4,375,000.00 4, 130,000.00

4,438,945.00 4,548,152.50 4,650,240.00 4,757,985.00 4,008,415.00

1,413,945.00 1,243,152.50 1,040,240.00
817,985.00 568,415.00

3,025,000.00 3,305,000.00 3,610,000.00 3,940,000.00 3,440,000.00

2,981,875.00 3,097,187.50

346,875.00 182,187.50

2,635,000.00 2,915,000.00

$ 86,712,275.00 $ 30,357,275.00 $ 56,355,000.00

CHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1995 Bonds Retired During Period
Bonds Payable at June 30, 1996
MATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date
See notes to the general purpose financial statements. - 42 -

TOTAL

1994-A ISSUE

$ 58,430,000.00 $ 22,815,000.00

2,075,000.00

205,000.00

$ 56,355,000.00 $ 22,610,000.00

APR 1 - OCT 1 APR 1'

SCHEDULE "5" Page 1

1994-A ISSUE

INTEREST

PRINCIPAL

1994 REFUNDING ISSUE

INTEREST

PRINCIPAL

1993 REFUNDING ISSUE

INTEREST

PRINCIPAL

$ 1,395,092.50 $ 1,382,072.50 1,364,612.50 1,342,112.50 1,314,045.00

280,000.00 $ 360,000.00 450,000.00 545,000.00 650,000.00

472,760.00 $ 469,'160.00 465,265.00 461,065.00 438,060.00

90,000.00 $ 95,000.00 100,000.00 535,000.00 570,000.00

397,737.50 $ 393,597.50 389,035.00 352,652.50 312,062.50

120,000.00 125,000.00 945,000.00 990,000.00 1,110,000.00

1,279,920.00 1,239,757.50 1,191,697.50 1,134,810.00 1,068,705.00

765,000.00 890,000.00 1,025,000.00 1, 170,000.00 1,330,000.00

412,980.00 384,405.00 353,585.00 320,215.00 284,215.00

635,000.00 670,000.00 710,000.00 750,000.00 800,000.00

264,887.50 213,775.00 159,930.00 101,340.00
38,220.00

1,175,000.00 1,210,000.00 1,260,000.00 1,315,000.00
780,000.00

992,230.00 904,187.50 789,775.00 661,525.00 512,775.00

1,505,000.00 1,695,000.00 1,900,000.00 2,125,000.00 2,370,000.00

245,015.00 202,765.00 156,865.00 108,160.00
55,640.00

845,000.00 900,000.00 955,000.00 1,010,000.00 1,070,000.00

346,875.00 182,187.50

2,635,000.00 2,915,000.00

$ 17,102,380.00 $ 22,610,000.00 $ 4,830,155.00 $ 9,735,000.00 $ 2,623,237.50 $ 9,030,000.00

1994 REFUNDING
ISSUE

1993 REFUNDING
ISSUE

1992 REFUNDING
ISSUE

1991 ISSUE

1990 ISSUE

1986 REFUNDING
ISSUE

$ 9,820,000.00 $ 9,145,000.00 $ 7,435,000.00 $ 1,510,000.00 $ 970,000.00 $ 2,155,000.00

85,000.00

115,000.00

60,000.00

340,000.00

300,000.00

670,000.00

$ 9,735,000.00 $ 9,030,000.00 $ 7,375,000.00 $ 1,170,000.00 $ 670,000.00 $ 1,485,000.00

APR 1 - OCT 1 APR 1

APR 1 - OCT 1 APR 1 - OCT 1 APR 1 - OCT 1 APR 1 - OCT 1 APR 1 - OCT 1

APR 1

APR 1

APR 1

APR 1

APR 1

- 43 -

PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30
1997 1998 1999 2000 2001
2002 2003 2004 2005 2006
2007 2008 2009 2010 2011
2012 2013

COLUMBIA COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1996

1992 REFUNDING ISSUE

INTEREST

PRINCIPAL

1991 ISSUE

INTEREST

PRINCIPAL

$ 414,382.50 $

60,000.00 $ 71,400.00 $ 370,000.00

411,682.50

65,000.00

49,200.00

400,000.00

408,595.00

465,000.00

24,800.00

400,000.00

386,042.50

490,000.00

361,542.50

515,000.00

334,762.50 308,012.50 279,122.50 248,047.50 213,847.50

500,000.00 535,000.00 565,000.00 600,000.00 635,000.00

176,700.00 136,200.00
93,600.00 48,300.00

675,000.00 710,000.00 755,000.00 805,000.00

$ 3,820,837.50 $ 7,375,000.00 $ 145,400.00 $ 1,170,000.00

CHANGES IN GENERAL LONG-TERM DEBT

1976 ISSUE

1967 ISSUE

Bonds Payable at July 1, 1995

$ 4,560,000.00 $

20,000.00

Bonds Retired During Period

280,000.00

20,000.00

Bonds Payable at June 30, 1996

$ 4,280,000.00 $

0.00

MATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date

APR 1 - OCT 1 APR 1 - OCT 1

APR 1

APR 1

See notes to the general purpose financial statements.

-44 -

SCHEDULE "5" Page2

1990 ISSUE

INTEREST

PRINCIPAL

1986 REFUNDING ISSUE

INTEREST

PRINCIPAL

1976 ISSUE

INTEREST

PRINCIPAL

$ 45,235.00 $ 325,000.00 $ 98,780.00 $

23,460.00

345,000.00

51,590.00

715,000.00 $ 770,000.00

264,385.00 $ 246,085.00 226,260.00 204,910.00 181,660.00

300,000.00 325,000.00 350,000.00 375,000.00 405,000.00

156,550.00 129,580.00 100,750.00 69,750.00
36,270.00

435,000.00 465,000.00 500,000.00 540,000.00 585,000.00

$ 68,695.00 $ 670,000.00 $ 150,370.00 $ 1,485,000.00 $ 1,616,200.00 $ 4,280,000.00

- 45 -

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30. 1996

SCHEDULE a~

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Limited English Speaking Middle School Incentive Program Special Instructional Assistance In-School Suspension Counselors Grades 4 and 5 Technology Training Mid-term Adjustment Local Fair Share Deferred Summer Salaries - Fiscal Year 1995 Deferred Summer Salaries - Fiscal Year 1996 Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Programs Apprenticeship Program At-Risk Summer School Program Environmental Science Program Governor's Emergency Funds (1) Health Insurance Innovative Programs Mentor Teacher Program Preschool Handicapped Program Remedial Summer School Program Special Education Low Incidence Grant Teachers' Retirement Lottery Programs Alternative School Program Applied Technology Labs Model Technology Schools Pre-Kindergarten Program Safe Schools Grant Technology Installation
Administrative Services, Georgia Department of Distant Learning/Telemedicine Grant
Georgia State Financing and Investment Commission Reimbursement on Construction Projects
Office of School Readiness Pre-Kindergarten Program
Office of Treasury and Fiscal Services Public School Employees Retirement
CONTRACT Education, Georgia Department of Governor's School Leadership Institute
(1) Evans Comprehensive High School 1996 Georgia School of Excellence
See notes to the general purpose financial statements.

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

GENERAL

REVENUE

PROJECTS

FUND

FUND

FUND

TOTAL

$ 30,719,294.00 3,574,890.00 621,113.00 1,281,950.00 424,741.00 8,238,273.00
1,137,375.00 326,344.00 39,591.00
1,157,291.00 109,139.00 283,890.00 99,593.00 128,825.00 935,204.00
-6,463,720.00 -5,206,643.00 5,777,092.00 3,035,295.00
$ 3,298.46
112,183.00 4,979.30 28,294.16 990.62 2,000.00
881,867.51 4,860.00 3,315.00
140,881.00 10,057.90 15,113.00 29,422.19

320,628.00
19,000.00 319,284.00 83,333.00 794,909.00 100,566.00 200,000.00

4,000.00

$ 30,719,294.00 3,574,890.00 621,113.00 1,281,950.00 424,741.00 8,238,273.00
1,137,375.00 326,344.00 39,591.00
1,157,291.00 109,139.00 283,890.00 99,593.00 128,825.00 935,204.00
-6,463,720.00 -5,206,643.00 5,777,092.00 3,035,295.00
320,628.00 3,298.46
112,183.00 4,979.30 28,294.16 990.62 2,000.00
881,867.51 4,860.00 3,315.00
140,881.00 10,057.90 15,113.00 29,422.19
19,000.00 319,284.00
83,333.00 794,909.00 100,566.00 200,000.00
4,000.00

185,647.00

$ 7,546,921.76 466,646.00

7,546,921.76 466,646.00 185,647.00

1 000.00

1 000.00

$ 47 647 446.14 $ 2,304,366.00 $ 7,546,921.76 $ 57,498,733.90

- 46 -

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF TAXES AND OTHER REVENUE
YEAR ENDED JUNE 30. 1996

SCHEDULE '7"

Taxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Estate Transfer Tax
Other Sources Community Service Activities Donations Indirect Cost Special Revenue Fund Interest Earned Lost and Damaged Books Reimbursements for Salaries Various Sources Rents Sales Breakfast Lunches School Assets Tuition Other

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

DEBT SERVICE
FUND

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

TOTAL

$ 21,897,252.37 4,935.02
135,080.16

$ 5,657,055.95
1,253.87 34,320.60

$ 5,657,055.95 21,897,252.37 6,188.89 169,400.76

85,846.95 2,000.00

28,866.64 783,800.66 $
22,267.87

79,450.28 $ 680,419.56

64,350.75 14,031.50

473.86 149,986.60
602.95

55,444.33 2,248,437.95
5,653.02

$ 1,431.00

111,374.74

9.37

85,846.95 3,431.00
28,866.64 1,655,054.61
22,267.87
64,350.75 14,031.50
55,444.33 2,248,437.95
473.86 149,986.60
6,255.97

$ 23,189,495.33 $ 2,388,985.58 $ 680,419.56 $ 5,804,005.16 $ 1,440.37 $ 32,064,346.00

See notes to the general purpose financial statements.

- 47 -

THIS PAGE LEFT BLANK

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 1996

SCHEDULE "8"

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Compensation and Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Property Services Insurance Communications Tuition Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Federal Indirect Costs Other Expenditures
Nonoperating Costs Principal and Interest Equipment
Total Expenditures

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 47,245,666.70 $ 13,479,817.59 163,388.27 549,682.84 13,464.05 230,647.70 1,168,068.03 45,448.73 2,906.43 148,398.00 221,103.49 1,260.00
137,716.06 28,798.99
2,651,057.52 1,608,614.97
4,846.01 977,488.17
79,755.18
21,494.78

3,122,147.34 $ 765,271.26 15,678.59 472,950.53
4,185.70 70,211.58 16,392.00
1,199.00
26,011.53
8,331.75 937,082.11
68,213.49 2,197,591.11
71.40 8,511.00 28,866.64 26,067.23

50,367,814.04 14,245,088.85
179,066.86 1,022,633.37
13,464.05 234,833.40 1,238,279.61
61,840.73 2,906.43
148,398.00 222,302.49
1,260.00 26,011.53 137,716.06 37,130.74 3,588,139.63 1,676,828.46 2,202,437.12 977,559.57 88,266.18 28,866.64 47,562.01

1,198,730.36

929,502.99 1,733,097.75

929,502.99 2,931,828.11

$ 69,978,353.87 $ 10,431,383.00 $ 80,409,736.87

See notes to the general purpose financial statements. - 49 -

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1996

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Rents Communications Other Purchased Services Supplies Energy Food Usage Dues and Fees Other Expenditures
Nonoperating Costs Principal and Interest Equipment

ALTERNATIVE SCHOOL PROGRAM

INSTRUCTIONAL TECHNOLOGY (1)

MODEL TECHNOLOGY
SCHOOLS

$

13,170.47 $

$

10,139.00

1,591.50

4,739.42

5,829.53

929,502.99 17,692.50

68,454.58

Total Expenditures

$

19,000.00 $

948,786.99 $==8=3,=33=3=.0=0

(1) Expenditures in the amount of $1,917,983.58 associated with the inception of a capital lease have been excluded from this schedule.

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

SCHEDULE "9"

PRE-KINDERGARTEN PROGRAM

SAFE SCHOOLS
GRANT

TECHNOLOGY INSTALLATION

TOTAL

$

839,370.09

$ 839,370.09

218,942.26

218,942.26

4,808.45

4,808.45

110.00

$ 200,000.00

210,249.00

16,392.00

16,392.00

1,199.00

1,199.00

3,388.75

3,388.75

143,111.14 $

99,341.00

261,953.53

14,377.00

14,377.00

8,114.35

8,114.35

1,731.75

1,731.75

10,010.21

10,010.21

1,225.00

929,502.99 93,201.61

$

1,261,555.00 $ 100,566.00 $ 200,000.00 $ 2,613,240.99

- 51 -

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 1996
EXPENDITURES Operating Costs Supplies Other Expenditures Nonoperating Costs Equipment
Total Expenditures

SCHEDULE "1 O"

$

885.00

212.68

1,331.00

$ ==2=,4=2=8=.6=8

See notes to the general purpose financial statements.
- 52 -

COLUMBIA COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1996

SCHEDULE "11"

Minimum Expenditure Requirements (Total Allotment)
Expenditures on Combined Program Basis Salaries (1) (2) Operations
Less: Expenditures for Media Center Programs in Excess of Total Media Allotment
Expenditures per Audit

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS

$ 37,129,322.00 $

1,179,174.00

$ 42,625,430.63 2,438,805.69 $ _ ___::2:..,_1,=8=9,..:....:1Oc..:.1.;7.;.~0
$ 45,064,236.32

-474, 180.65 $ 44,590,055.67

Amount of Underexpenditure for Total Allotment

$

0.00 $=====0=.0==0

Note: (1) Salary accruals (July and August 1996 Deferred Salaries) reported as expenditures in the General Purpose Financial Statements are not included on this analysis in order to comply with program guidelines.
(2) Salary accruals (July and August 1995 Deferred Salaries) reported as expenditures in the prior year General Purpose Financial Statements are included on this analysis as required by program guidelines.

See notes to the general purpose financial statements. - 53 -

COLUMBIA COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - BY PROGRAM
GENERAL FUND- QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1996

GENERAL AND CAREER EDUCATION PROGRAMS Kindergarten (*) Grades 1 - 3 (*) Sub-Total - K-3 Grades 4 - 5 (*) Grades 6 - 8 (*) Grades 9 - 12 (*) High School Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs
SPECIAL EDUCATION PROGRAMS Regular Programs Category I (*) Category II (*) Category III (*) Category IV (*) Sub-Total - Regular Category V (Gifted) (*) Total Special Education Programs
REMEDIAL EDUCATION PROGRAM {*l Total Thirteen Weighted Programs
MEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs
Total Thirteen Weighted and Media Center Programs
STAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development
Total Staff Development Programs (*) Identifies Thirteen Weighted Programs. (1) Salary accruals (July and August 1996 Deferred
Salaries) reported as expendiiures in the General Purpose Financial Statements are not included on this analysis in order to comply with program guidelines.
See notes to the general purpose financial statements.

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

ORIGINAL

%

ORIGINAL

MID-TERM

$ 2,801,410.00 7,679,266.00
$ 10,480,676.00 4,203,526.00 6,982,701.00 3,503,299.00 4,010,051.00 1,539,041.00
$ 30,719,294.00

$ 2,521,269.00

6,911,339.40 $

90 $ 9,432,608.40 $

90

3,783,173.40

90

6,284,430.90

90

3,152,969.10

90

3,609,045.90

90

1,385,136.90

$ 27,647,364.60 $

932,075.00 932,075.00
932,075.00

$ 3,107,784.00

$ 2,797,005.60 $

0.00

$ 3,107,784.00

467,106.00

$ 3,574,890.00

$

621,113.00

$ 34,915,297.00

90 $ 2,797,005.60 $

90

420,395.40

$ 3,217,401.00 $

90 $

559,001.70 $

$ 31,423,767.30 $

0.00
0.00 0.00 932,075.00

$ 1,010,857.00 90 $

909,771.30 $

0.00

271,093.00 90

243,983.70

$ 1,281,950.00

$ 1,153,755.00 $

0.00

$ 36,197,247.00

$ 32,577,522.30 $

932,075.00

$

104,868.00

319,873.00

$

104,868.00 $

319,873.00

3,129.00 0.00

$

424,741.00 100 $

424,741.00 $

3,129.00

(2) Salary accruals (July and August 1995 Deferred Salaries) reported as expenditures in the prior year General Purpose Financial Statements are included on this analysis as required by program guidelines.

- 54 -

SCHEDULE "12"

TOTAL REQUIRED

ACTUAL EXPENDITURES

SALARIES (1)(2) OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$ 2,521,269.00 $ 3,831,342.97 $

99,374.00 $ 3,930,716.97

7,843,414.40

9,591,476.79

332,321.39

9,923,798.18

$ 10,364,683.40 $ 13,422,819.76 $

431,695.39 $ 13,854,515.15 $

0.00

3,783,173.40

4,756,551.02

236,919.39

4,993,470.41

0.00

6,284,430.90

7,543,999.11

444,060.25

7,988,059.36

0.00

3,152,969.10

3,997,316.38

307,857.82

4,305,174.20

0.00

3,609,045.90

4,403,654.06

319,403.21

4,723,057.27

0.00

1,385,136.90

1,628,069.47

286,318.02

1,914,387.49

0.00

$ 28,579,439.60 $ 35,752,409.80 $ 2,026,254.08 $ 37,778,663.88

$ 2,797,005.60 $

1,615,097.22 $ 520,960.75
1,593,150.75 437,405.06

9,607.00 $ 12,748.38 73,885.44 18,236.97

1,624,704.22 533,709.13
1,667,036.19 455,642.03

$ 2,797,005.60 $ 4,166,613.78 $

114,477.79 $ 4,281,091.57

0.00

420,395.40

612,487.10

23,401.55

635,888.65

0.00

$ 3,217,401.00 $ 4,779,100.88 $

137,879.34 $ 4,916,980.22

$

559,001.70 $

587,493.29 $

24,968.28 $

612,461.57

0.00

$ 32,355,842.30 $ 41,119,003.97 $ 2,189,101.70 $ 43,308,105.67

$

909,771.30 $ 1,506,426.66

$ 1,506,426.66

0.00

243,983.70

$

249,703.99

249,703.99

0.00

$ 1,153,755.00 $ 1,506,426.66 $

249,703.99 $ 1,756,130.65

$ 33,509,597.30 $ 42,625,430.63 $ 2,438,805.69 $ 45,064,236.32 $

0.00

$

107,997.00

319,873.00

$ ==4=2=7=8,=7=0.=00=

$

217,587.04 $

217,587.04

211,001.67

211,001.67

$

428,588.71 $

42B,5BB.71 $======o=.o=o

- 55 -

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS
YEAR ENDED JUNE 30, 1996

SCHEDULE

13 11

11

BOARD MEMBER ADDRESS
Mr. Michael N. Annis, Chairman (*) 4464 Graystone Way Evans, Georgia 30809
Mr. Larry Ogletree(*) 5087 Windmill Lake Drive Evans, Georgia 30809
Ms. Mary E. Sanders (*) P. 0. Box 37 Harlem, Georgia 30814
Ms. Jean A. Smith (*) 4579 Colonial Road Martinez, Georgia 30907
Ms. Beth Trotter(*) 2034 Pheasant Creek Road Martinez, Georgia 30907

COMPENSATION

TRAVEL

$

3,000.00 $

303.65

2,400.00

118.65

2,400.00

2,400.00

441.75

2,400.00

$

12,600.00 $ ====8=6=4.=0=5

(*) Denotes Board Members Serving as of June 30, 1996

See notes to the general purpose financial statements. - 56 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Columbia County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated May 2, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
Compliance with laws, regulations, contracts, and grants applicable to Columbia County Board of Education is the responsibility of the Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards.

96CRL-10

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp 96CRL-10

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Columbia County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated May 2, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have applied procedures to test the Columbia County Board ofEducation's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996:

(1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

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

96CRL-40

With respect to the items tested, the results of those procedures disclosed no material instances of

noncompliance with the requirements listed in the second paragraph of this report. With respect to items not

testeq, nothing came to our attention that caused us to believe that Columbia County Board of Education had

not complied, in all material respects, with those requirements.

.

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

Respectfully submitted,
~
Claude L. Vickers State Auditor

CLV:gp 96CRL-40

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Columbia County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated May 2, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have also audited the Columbia County Board of Education's compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

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

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1996. The management of the Columbia County Board ofEducation is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

96CRL-80

We conducted our audit of compliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Man~gement and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Columbia County Board of Education's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the Columbia County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1996.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~
Claude L. Vickers State Auditor
CLV:gp 96CRL-80

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education

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

Ladies and Gentlemen:

We have audited the general purpose financial statements of the Columbia County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated May 2, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

In connection with our audit of the fiscal year 1996 general purpose financial statements of the Columbia County Board of Education and with our consideration of the Board's control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1996. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements govemmg:

(1) Types of Services Allowed or Unallowed

(2) Eligibility

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

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Columbia County Board of Education had not complied, in all material respects, with those requirements.

96CRL-120

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matte_r of public record.
Respectfully submitted,
~
Claude L. Vickers State Auditor
CLV:gp 96CRL-120

SECTION ID INTERNAL CONTROL

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Columbia County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated May 2, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
We conducted our audit in accordance with generally accepted auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
The management ofthe Columbia County Board of Education is responsible for establishing and maintaining
an internal control structure. In fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.
96ICL-3

In planning and performing our audit of the general purpose financial statements of the Columbia County Board of Education for the year ended June 30, 1996, we obtained an understanding of the internal control structure. With respect to the internal control structure, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion.
We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation of the internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
General Fixed Assets
A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness.
This condition was considered in determining the nature, timing, and extent ofthe procedures to be performed in our audit of the Columbia County Board of Education's fmancial statements and this report does not affect our report thereon dated May 2, 1997.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp 96ICL-3

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

DEPARTMENT OF AUDITS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
May 2, 1997

Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board of Education
and Superintendent and Members of the Columbia County Board of Education
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements of the Columbia County Board of Education as of and for the year ended June 30, 1996, and have issued our report thereon dated May 2, 1997. This report was qualified for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Columbia County Board of Education's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated May 2, 1997.
We conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Columbia County Board of Education complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
In planning and performing our audit for the year ended June 30, 1996, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated May 2, 1997.
96ICL-5

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

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

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

(5) Allowable Costs/Cost Principles

(4) Reporting

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

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

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

During the year ended June 30, 1996, the Columbia County Board of Education expended 73% of its total Federal financial assistance under major Federal financial assistance programs.

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

96ICL-5

are identified in the Schedule of Federal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we d? not express such an opinion.

Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course ofperforming their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above.

This report is intended for the information of management, the Federal cognizant audit agency and other

Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a

matter of public record.

Rez~

CLV:gp 96ICL-5

Claude L. Vickers State Auditor

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1996
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Improper Lease Agreements Financial Statements Finding Resolved Audit Control Number 6361-93-04
The audit report for the year ended June 30, 1992, noted that the Board had entered into various multi-year lease purchase agreements which did not include the termination and renewal provision requirements of Official Code of Georgia, Annotated Section 20-2-506. In the year under review, these lease agreements expired.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Finding Resolved Audit Control Number 6361-93-05
The audit report for the year ended June 30, 1993, stated that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $32,745.63 for the Staff Development - Professional Development Stipends Program. For the year under review, an adjustment was made to the Board's local fair share by the Georgia Department of Education to refund the underexpenditure as required.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $71,309.81 Audit Control Number 6361-94-01
The audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$71,309.81 for the Staff Development - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund this underexpenditure as required. The underexpenditure of $71,309.81 should be returned to the Georgia Department of Education through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
- 1-

COLUMBIA COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1996
PRIOR YEAR/CURRENT YEAR GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6361-93-03 The audit report for the year ended June 30, 1995, noted that the management ofthe Columbia County Board of Education had chosen not to maintain a system-wide General Fixed Assets Account Group within the
formal accounting records as required by generally accepted accounting principles. In the year under review,
the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance ofa General Fixed Assets Account Group. These subsidiary records should include an inventory of land, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
-2 -

SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

COLUMBIA COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1996
AUDIT FOLLOW-UP/RESOLUTION Improper Lease Agreements Financial Statements Finding Resolved Audit Control Number 6361-93-04
We concur with this finding. These leases were completed during year ended June 30, 1996. All new leases do include the termination and renewal provisions required by the State of Georgia.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Finding Resolved Audit Control Number 6361-93-05
We concur with this finding. This finding had originated with the Board relying and acting on incorrect information provided by the Georgia Department of Education.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $71,309.81 Audit Control Number 6361-94-01
We concur with this finding. This finding originated with the Board relying and acting on incorrect information provided by the Georgia Department of Education. It is being resolved by the Georgia Department of Education through adjustments to the Board's FY 97 QBE allotment.
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6361-93-03
We concur with this finding. The Board is currently working to establish a system-wide General Fixed Assets Account Group. The staff is in the process of locating past records, entering current records and making adjustments as needed.