COLUMBIA COUNTY BOARD OF EDUCATION '" - TABLE OF CONTENTS- Page SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS EXHffiITS 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 COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (NON-GAAP BASIS) 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 ADDmONAL FINANCIAL INFORMATION COfvffiINING STATEMENTS SPECIAL REVENUE FUND G COMBINING BALANCE SHEET 26 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 28 CAPITAL PROJECTS FUND I COfvffiININGBALANCESHEET 30 J COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 32 DEBT SERVICE FUND K COMBINING BALANCE SHEET 34 L COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 35 COLUMBIA COUNTY BOARD OF EDUCATION d -TABLEOFCONTENTS- SECTION I FINANCIAL SCHEDULES ADDITIONAL FINANCIAL INFORMATION 1 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 36 2 SCHEDULE OF STATE REVENUE 39 3 SCHEDULE OF APPROVED LOCAL OPTION SALES TAX PROJECTS 40 ANALYSIS OF M EXPENDITURE REQUIREMENTS GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 4 OVERALL 43 5 BY PROGRAM 44 SECTIONll COMPLIANCE AND INTERNAL CONTROL REPORTS REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 51 - tn L IFF azI REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-I33 SECTIONID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS S Y SCHEDULE OF PRIOR YEAR FINDINGS AND QUESTIONED COSTS SECTION IV FINDINGS AND QUESTIONED COSTS SCHEDULE OF FINDINGS AND QUESTIONED COSTS SECTION I FINANCIAL RUSSELl~ W. HINTON STATE AUDITOR (404) 6562174 Ox. o.+ G .. . 'f ~ ~o:"'l +. . ...... ~ ,j(... .. .. . . II " 6 ~."'"~ r .. ~.. ... . m,. )c., . . ., ~:+ C ~ ~. I,. ...A:1'~ .r~' U... \ .....'....-~.:i4.. '.I r ~ ""\. ., I .... W - } '~l M4~ ~ ."..'.~ ,- .-.: ":.. ....-..... .'.il~ ',Ii.. 1111'":'. . .. r <~~ -_.~-~,--~ / \ J , 7 Y ... .......... .. + $'"+ ~~ - DEPARTMENT OF AUDITS AND ACCOUNTS 254 Wastlingl()ll Slrccl~ S.Wq Suite 214 Atlanta. Gc()rgi~, ?t()334-X4()() April 10, 2001 Honorable Roy E. Barnes, Governor Members of the 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 PURP...,OSE FINANCIAL STATEMENTS AND SU.PPLEM,ENTARY INF.ORMATION - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS , LL Ladies and Gentlemen: We have audited the accompanying general purpose financial statements of the Columbia County Board of Education, as of and for the year ended June 30, 2000, as listed in the table of contents. These general purpose financial statements are the responsibility ofthe Columbia County Board of Education's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and the standards applicable to financial audits contained in Governm~nt Auditing ,Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perfonn the audit to obtain reasonable assurance about whether the 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 ofthe 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 confonn to generally accepted accounting principles. 2000ARL-13 * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To confonn 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 referred to above present fairly, in all material respects, the financial position of the Columbia County Board of Education as ofJune 30, 2000, and the results ofits operations and the cash flows ofits proprietary fund for the year then ended, in conformity with generally accepted accounting principles. In accordance with Government Auditin&..Standards, we have also issued our report dated April! 0, 2001, on our consideration of the Columbia County Board of Education's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit perfonned in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. Our audit was perfonned for the purpose of fonning an opinion on the general purpose financial statements of the Columbia County Board of Education taken as a whole. The accompanying combining statements (Exhibits G through L) and the financial schedules (Schedules 1 through 5), which includes the Schedule of Expenditures of Federal Awards as required by U. S. Office of Management and Budget Circular A-133, Audits of States. Local Governments. and Non-Profit Organizations, are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. Such infonnation has been subjected to the auditing procedures applied in the audit ofthe general pwpose financial statements and in our opinion, except for the effects ofthe matters referred to in the third paragraph, such infonnation is fairly stated, in all material respects, in relation to the general purpose financial statements taken as a whole. A copy ofthis report has been filed as a pennanent record in the office ofthe State Auditor and made available to the press ofthe State, as provided for by Official Code ofGeorgia Annotated Section 50- 6-24. Respectfully submitted, RWH:jb 2000ARL-13 R sell W. Hinton State Auditor COLUMBIA COUNTY BOARD OF EDUCATION .. COLUMBIA COUNTY BOARD OF EDUCATION ~ ...u COMBINED BALANCE SHEET . - lWW ALL FUND TYPES AND ACCOUNT GROUP JUNE 304 2Q.Q.Q - ASSETS Cash and Cash Equivalents Investmants 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 $ 1,822,928.57 $ 1,630,146.86 $ 1,033t 185.72 21,617,335.65 1,074,668.03 5,184,247.84 9,786,444.30 409,696.88 1,709,403~95 3,075.00 15,561.88 20,423.62 Total Assets $ 33,229,783.52 $ 3d153J255.75 $ _ _7,926,837.51 !-lABllITIES AND FUND EQUITY LIABILITIES Accounts Payable salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Capital Lease Agreements General Obligation Bonds Payable Total Liabilities FUND EQUITY Retained Eamings Unreserved Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Inventories Food Donated Commodities Purchased Food For Purpose of Bond Issue For SPlOST Projects For State capital Outlay Projects Unreserved Undesignated Total Fund Equity $ 4,236,729.47 $ 9,428,305.30 171,309.92 $ 620,668.39 990.02 313,821.81 1,237,815.34 346,517.95 T W. b J. , $ 13J665Jm034~77 $ f. 79~.H58~~3 $ a 1,898,155.10 $ 19.960.00 $ 522.20 15,561.88 20,423.62 $ 19,544,7A8J_~. __ 2,32.3&7]9.72 $ 19,564,!4.8.75 $ 2,360,287.42 $ 3,072.936.59 2~O54,300.03 901,445~79 a_0.00 ,,O~~J682.41 Total Liabilities and Fund Equity $ 33,229,783.52 $ 3,153,255.75 $ _ _7,926,837.51 The notes to the general purpose financial statements are an integral part of this statement. 2 EXHIBIT -Aft DEBT SERVICE FUND PROPRIETARY FUND TYPE ... " ..,..."n ..... ~ INTERNAL SERVICE FUND "'. w FIDUCIARY FUND TYPE ~.-............. MTF EXPENDABLE TRUST FUND $ 85t 483.00 $ ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTALS _ _ _{Me~orandum Onl~ _ JUNE 30, 2000 JUNE 30, 1999 $ 4,571,744.15 $ 5,704,957.82 $ 196.733.55 832,677.29 28,905,662.36 22,346,950.60 305.54 11 ,905,850.67 12,327,492.51 5,833.48 121583.15 $ 197,039.09 15.561.88 20,423.62 197.039.09 24,043.83 18,678.74 144,760.66 $0 197,039.09 $.dJ 91.8.3 60.29 $_& 46,682,960.91 - 46,682,960.91 49,760,239.34 443,676.48 0,.0.0.._ $ _ _4.6..,880,000.00 $ 92,,305+076.16 $ 90J83,383.13 $ 197,169.44 $ 197,169.44 $ 720.990.85 $ 197,039.09 0.00 0.00 $ 197,039.09 $ _ _7_2_0.,.9.._90_.8_5_ $ _ _19_7~039.09 $ _ _9_1.160.29 $ $ 4,919.030.64 $ 4,226,548.86 10,048,973.69 9,327,841.07 990.02 3,399.62 1,237 ,815.34 768.328.50 346.517.95 154,621.54 443.676.48 $ 46,880.00Q.PQ. , 46,8O,OOO.00 I 49,905bOOO.OO $ ~~J880,000.00 $ 63,433,327.64 $ 64,829,416.07 $ 720.990.85 $ 752,182.83 19,960.00 522.20 197,039.09 144,760.66 15,561.88 24,043.83 . 20,423.62 18.678.74 3,072,936.59 1.080,888.70 2.054.300.03 4,311,651.70 901,445.79 965,913.87 1~,655t846. 7 3 .. 3 .. CQLUM12IA COUNTY BQARD OF EDUCATION COMBltJED STATEMENT OF REVE~UES~ EXe,ENDITURES AND CHANGES IN FUND BALA..~CES ALL GOVERNMENTAL FU...ND TYP...ES AND EXPENDABLE TRUST FUND YEAR ENDED _~UNE 30, 2000 REVENUES r-......:L1 ~ ... State Funds Federal Funds Taxes Other Funds Total Revenues ~XPENDITURES 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 Services Operations Capital OutJay Debt Service Principal Interest Paying Agent Fees Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES1USES} Accrued Interest on Bonds Sold Refunding Bond Issuance Cost Proceeds of Refunding Bonds Par Value Payments to Bond Escrow Agent 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 FU~D BALANCE JULY 1 _. I GENERAL FUND - _. & GOVERNMENTAL FUND U , dd SPECIAL CAPITAL REVENUE PROJECTS ---F_UNrD -_ FU_N.1D $ 64,403,450.67 $ 2,132,862.78 $ 62,720.97 4.414.024.22 32,803,320.50 - 2,196,787.34 3,521,798.49 3,486.848.54 3,693,653.00 273z6Q1..21 $ 65,457,705.33 $ 3,031,146.72 3,662,837.70 2,063,221 ~62 2,488,540.13 656,754.50 6,554,308.17 1,015,882.22 6.704,597.27 3,965,013.60 511,714.65 78.292.96 1,586.07 184,006.09 625.431.01 148,871.17 55,348.54 12,112.37 20,274.20 14,645.18 5,495,847.26 5,036.65 $ 44,293.73 2,153.81 - $ 93,390t92L.~'Ub $ 399,382.75 19,420.25 ~J8271516.10 $ $ 6,075,371.63 $ 241,169.39_. $ 10,868,537.61 10,868,537.61 -3,414,434.86 $ 3,0871493~56 $ -3,087,493.56 $ 3,084,663.00 $ 3,084,663.00 $ 2,987,878.07 $ _ 16dR7~J870.68_ 241,169.39 $ 2,119,118.03 -329,771.86 6,358,454.27 FUND BALANCE JUNE 30 The notes to the general purpose financial statements are an integral part of this statement. -4- EXHIBIT-B- TYPES r DEBT SERVICE FUND -- TOTAL FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND T TOTALS _ _ _ _ _ WI {Memorandum Onl~ _ YEAR ENDED _ ... IfF 1 JUr~FE.-~QI ;20QO JUNE 30, 199~ u $ 70,023,161.99 4,476,745.19 $ 5,694.805.50 42,191 ,779.00 8,846.43 .b_ L 6101,033.47 $ $ 1_1._0._04_ 70,023,161.99 $ 4,476,745.19 42,191,779.00 .p,001, 143.51. 64,501 t 178.85 4,160,094:00 40,290.159.66 5,088,500..58 $ 5,793,651.93 $ 122,692,I19.65 $ _. ._._.1_1I11111ii-O._04_ $ _.122,692,829.69 $ 114,039r933.0~ $ 68,488,852.05 4,288,268.71 2,212,092.79 2,488,540.13 712,103.04 6t554,308~17 1,015,882.22 $ 6,716,709.64 3.985,287.80 511.714.65 92,938.14 5.497,433.33 184,006.09 5.036.65 10,868,537.61 $ 3.025,000.00 2,618,525.00 17l~8.50 3,468,676.48 2,640,099.06 7'~~750 $ _.5,651 ,373~50 $ 119!738,~~5106 $ $ 2,954,384.59 $ $ 2.690.63 68,488.852.05 $ 4,288,268.71 2,212,092.79 2,488.540. 13 712,103.04 6,554,308.17 1,018,572.85 6t 716.709.64 3.985,287.80 511,714.65 92,938.14 5,497,433.33 184,006.09 5.036.65 10.868,537.61 3,468,676.48 2,640.099.06 7,848.50 63,941,452.83 4,365.668.57 2,165,517.76 2,368,694.23 594,549.54 6,296.029.48 950,111.20 6,033,246.64 3,742,380.06 443,800.86 21,060.30 5,380,494.03 165,829.76 7,410.41 4,627.885.85 3,413,542.51 2,796.369.11 11~502.83 -2,580.59 $ 6,714,387.12_ $ 3,084.663.00 3,087,493.56 $ -2,830.56 $ 33,259.98 -139,832.47 $ 3.084,663.00 -3,087,493.56 10,000,000.00 -9.852,181.97 2.717.664.00 -2,782L673.44 $ -2&830.56 $ -23.763.90 $ 52,278.43 $ 2,951,554.03 $ -2,580.59 $ 2,948,973.44 $ 6.690,623.22 ~,580.59 18,511,161.01 $ _ _1._~7zlQ~9.99 $ 28,150J57.67 $ 0._00- $ A1501757.67 $ 2~201!784.23 -5- CQLUMB fA cOUNTY BOARD OF ED~ATJQN CoMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAUNON-GAAP BASIS} -GENERAL AND SPECIAL REVENUE FUNDS YEAR ENDED JUNE 30, 2000 EXHIBIT "CIt GENERAL FUND IIF . , . . - - L 11I& ACTUAL (BUqGET " BUDGET BASIS) REVENUES State Funds Federal Funds Taxes Other Funds Total Revenues $ 62, 179,861.00 $ 64t 403.450.67 50,000.00 62,720.97 31 ,467r 100.00 32,803,320.50 1,040176~~.90 _l.l.1j6,78 ~~34 F 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 Services Operations Debt Service Total Expenditures Excess of Revenues over (under) Expenditures $ 66,949J439.00 $ 65t 4"57t 705.33 3r987.802.00 2,258.845.00 2.499,067.00 730.168.00 6,517,278.00 1t 125,210.00 6,936,727.00 4 t 029,460.00 553,050.00 79,503.00 3t 662,837.70 2,063,221 ~62 2t 488,540.13 656,754.50 6,554,308.17 1.015,882.22 6,704,597.27 3~965,O13.60 511,714.65 78t 292.96 1,586.07 184,006.09 ~6,447.54 b $ 95,666,549.00 $ 93,391907.85 S -928,821.00 $ 6,075,371.63 OTHiR FINANCING SQURCE !USES} Other Sources Other Uses Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -4.213,484.00 $ 2,987,878.07 fUND..BALANCE JULY 1, 1999 16,195,755.30 16,576,870.68 Adjustments v 341,199.07 SPECIAL REVENUE FUND ,_ Is .... pnnm ACTUAL (BUDGET BUDGET ..tr BA~I~l_ $ 2~410r799.00 $ 2.132,862.78 4.706,405.00 4.414,024.22 3,233,085.00 3,521,798.49 $ 10,350,289".00 $ 11 191.Q.~82685.49 $ 3,436,302.00 $ 3.031t146~72 612,789.00 343.190.00 625,431.01 148.871.17 79,964.00 9.500.00 55,348.54 391,896.00 45,519.00 12,112.37 20.274.20 21 t 544.00 5,812,966.00 12.812.00 14,645.18 5,495t 847.26 5,036.65 418,803.00 $ 416,193.0Q $ 24j,1.9.39 $ 200,000.00 ..991930~OO -$ 100,070.00 $ -316,123.00 $ 241 t 169.39 2,855.650.18 2, 119t 118.03 FU"'tlBALA~CE JUNE 3QJ,.~QOQ $ 2,539,527.18 $ 2J360r287~42 The notes to the general purpose financial statements are an integral part of this statement -7- COLUMBIA COUNTY BOARD OF EDUCATION J'IIIIIF ,.,..... TV EXHIBIT "Oil STATEMENT OF ~EVENUES.J EXPE~SES AND C.ttAN@f;S IN RETf\~r'JED EARNINGS PROPRIETARY FUND TYPE -INTERNAL SERVICE FUND T i d YEAR ENDED JUNE 3D. 2000 OPERATING REVENUES JQ Ad JI"F' I.- Charges for Services OPE, RATING EXPENSES Current Support Services General Administration Operating Income (Loss) NONOPERATING REVENUES ~w .-I ~'F Interest Earned . Net Income (Loss) Before Operating Transfers from Other Funds Operating Transfers from Other Funds Total Income (Loss) RET81NED EARNINGS JULY 1 PROPRIETARY FUND TYPE INTERNAL SERVICE - FUND TOTALS _ _ _{Memorandum Only.l.-)_ _ YEAR ENDED JUNE 3D, 2000 JUNE 3D, 1999 $ 197,169.44 $ 197.169.44 $ _ _13_4t.-9-_90_.5_6_ $ 242,366.90 $ $ -45, 197.46 $ 242,366.90 $ _ _6_3--.,5_3_1_0_7_ -45.197.46 $ 71,459.49 .11,174.92 11,174.92 $ -34,022.54 $ -34,022.54 $ 2,830.56 $ -31,191.98 $ -31 t 191 .98 $ . 75?L1L8?~~ iLl F 752, 182.83 121,610.14 65,009.44 186,619.58 565,563.25 RETAINED EARNINGS JUNE 30 $ . $ 720-,990.85 __ ------_._- - -_. ..... ---- ...-. g"720L9~.85 $ _ _7==:5==2A18.~.~~.i. The notes to the general purpose financial statements are an integral part of this statement. -8- COLUMBIA COUNTY BOARD OF EDUCATION b d 11III7 J l& -STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPE - INTERNAL SERVICE FUND ,- -- -& - & XEAR ENDED JUNE 30b 2000 PROPRIETARY FUND TYPE TOTALS INTERNAL _ _ _(Memorandum Onl>1 _ SERVICE YEAR ENDED FUND JUNE 30,2000 JUNE 30L 1999 J Cash Flows from Operating Activities: Cash Received from Charges for Services Cash Paid for Other Purchased Services Cash Paid for Workers' Compensation Claims $ 197,169.44 $ -37,723.26 _--_14-94 164.76 197,1"69.44 $ -37,723.26 -149,164.76 134,990.56 -6,000.00 -80,918.06 Net Cash Provided (Used) by Operating Activities $" 10,281.42 $ _ _4_8_z072.50 Cash Flows from Noncapital Financing Activities: Operating Transfers In $ 2,~30.56 $ , 2,830.56 $ 6-5..,.0..-0-9.-44- Cash Flows from Investing Activities: Interest Received on Investments Net Change in Investments Net Cash Provided by Investment Activities Net Increase (Decrease) in Cash $ 11,174.92 $ b .. -~z815.75 11.174.92 $ 50,150.65 -2t~Ll?7~ _ _-2_4_51585.57 $ 8,359.17 $ II' .lIIII rps $ 21,471.15 $ _a 8+359.17 $ 21,471.15 $ -199,4~4.92 -82,352.98 Cash and Cash Equivalents - July 1 F" ...... ~4,011.85 _ _14_6,364.83 Cash and Cash Equivalents - June 30 85,483.00 $ =======6=4=,=0=1=1=.=1 8=5== Reconciliation of Operating Income to Net " Cash Provided (Used) by Operating Activities: Operating Income {Loss} Increase (Decrease) in Claims Payable $ -45t 197.46 $ d M _55,478.88 -45,197~46 $ 55,478.88 71,459.49 ~23!3B6.99 Net Cash Provided (Used) by Operating Activities $ . _ 10,28.1.42 : $ = ====.1~281.42 $ :=,=======48=z==p7==2==.5==O== The notes to the general purpose financial state.ments are an integral part of this statement. -9- COLUMBIA COUNTY BOARD OF EDUCATION EXHffiIT "F" L NOTES TO THE GENERAL PURPOSE FINANCIAL STATEM-ENTS JUNE 30, 2000 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES & . . . :bliss j . Sf., T REPORTING ENTITY The Columbia County Board of Education (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the Board is a primary government and consists ofall the organizations that compose its legal entity. . 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. General Fixed Assets are recorded as expenditures in the various funds at the time ofpurchase. A General Fixed Assets Account Group is not presently maintained by the Board. To confonn 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 ~d balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose fmancial statements. The general purpose financial statements account for all State, Federal, Taxes and Other funds under control of the Board, in compliance with generally accepted accounting principles applicable to govenunental units, unless othetwise 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. . - 11 - COLUMBIA COUNTY BOARD OF EDUCATION N- OTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30~ 2000 EXHffiIT "F" Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES _ npsn d * d :lti 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 received primarily from the Georgia Department of Education and from the Federal government to accomplish specific educational objectives. CAPITAL PROJECTS FUND - the fund used to account for fmancial 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, generallong-tenn 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 ofproprietary 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 worker's compensation risk financing related activities. FIDUCIARY FUND TYPE - the fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes: EXPENDABLE TRUST FUND Jason Davis Sportsmanship Award - the fund used to account for donations which may be granted to a Greenbrier High School senior football or baseball player who maintains at least a C average and exhibits an exceptional sportsmanlike attitude. 4 ACCOUNT GROUP GENERAL LONG-TERM DEBT ACCOUNT GROUP -A financial reporting device used to account for general obligation debt outstanding. BASIS OF ACCOUNTING The accounting and financial reporting treatment applied to a fund is detennined 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 ofthese 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. - 12- COLUMBIA COUNTY BOARD OF EDUCATION _ L Nd 51 L d NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS . . . . %2& , JUNE 30, 2000 EXHffiIT "F" Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES L _ _ L d&i LtI.. :zI _ I lilt 2iiiiiIIJ . . d& 11 , ... 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~Tenn Debt Account Group. All proprietary funds are accounted for on a flow ofeconomic 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. I 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 of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues considered susceptible to accrual are property taxes, local option sales taxes, intergovernmental grants and investment income. 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 1999 and ending in early June 2000. Employment contracts for these employment periods typically specify that compensation be paid in twelve equal monthly payments beginning in September 1999 and ending in August 2000. State grants to fund the State's share ofthese 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 ofaccounting, as required by generally accepted accounting principles, is utilized by proprietary funds. Under the accrual basis ofaccounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. . BUDGET The Columbia County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level ofbudget control was established by the Board at the aggregate level. The proprietary fund budget was prepared and utilized as a management tool to assess the operations of the internal service fund. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles. - 13 - COLUMBIA COUNIY BOARD OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS _ Sf J JUNE 30, 2000 EXHmIT "F" Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES III ". vz ztIW1J The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval ofthis 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 of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions of the Quality Basic Education Act, OCGA Section 20-2-167(c), 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 in authorized financial institutions. Georgia Laws OCGA 45-8-14 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. INVESTMENTS COMPOSITION OF INVES"TMENTS Investments made by the Board in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Participating interest-earning contracts and money market investments with a maturity at purchase ofone year or less are reported at amortized cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year and equity investments are reported at fair value. The Official Code ofGeorgia Annotated Section 36-83-4 authorizes the Board to invest its funds. In selecting among . " options for investment or among institutional bids for deposits, the highest rate ofreturn 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 ofGeorgia, Office of Treasury and Fiscal Services, - 14- COLUMBIA COUNTY BOARD OF EDUCATION EXHmIT "Fit NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS F JUNE 30.,.2000 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ~ (7) Repurchase agreements, and (8) Obligations of other political subdivisions of the State of Georgia. RECEIVABLES Receivables consist of grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from infonnation 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 1999 tax year (calendar year) on August 18,1999 (levy date). Taxes were due on November 15, 1999. The lien date for property taxes was January 1, 1999. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 2000. The Columbia County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the Board. The tax millage rate levied for the 1999 tax year (calendar year) for the Columbia County Board of Education was as follows (a mill equals $1 per thousand dollars of assessed value): School Operations 17,51 mills SALES TAXES Special Purpose Local Option Sales Tax is to be used for capital outlay for educational pwposes and debt service. Special Purpose Local Option Sales Tax revenue during the fiscal year amounted to $9,317,048.49 and was recorded in the Capital Projects and Debt Service Funds. The State will terminate collection ofthis tax once an additional $25,110,128.64 has been collected or on June 30, 2002, whichever occurs first. 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. - 15 - COLUMBIA COUNTY BOARD OF EDUCATION EXHffiIT uF" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 2000 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 7SIZ7 L J 1 dE ILk At ~- The inventories reported on the balance sheet for donated food commodities and for pur~hased foods are equally offset by reservations of fund 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, 2000, 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-Tenn Debt Account Group as this liability is also deemed to be immaterial to the fair presentation ofthese financial statements. 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 in the financial statements during the year bonds are issued. 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 ofthe government. The outstanding amount ofthese bonds is recorded in the General Long-Tenn Debt Account Group. INTERFUND TRANSACTIONS The Board has the following types of interfund transactions: Reimbursements ofexpenditures/expenses initially made from a fund that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. . Operating transfers are recorded for all interfund transactions other than reimbursements. - 16- COLUMBIA COUNTY BOARD OF EDUCATION I d NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS , 'd iiidIIWL: .. JUNE 30, 2000 EXHffiIT "F" Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES .. T :zIIds iiiiiIII&&zL &&JZI. . .iIIIIIII&L.. .... b :MIl' MEMORANDUM ONLY - TOTAL COLUMNS Total columns on the general purpose financial statements are captioned "Memorandum Onlyt! to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results ofoperations or cash flows in confonnity 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 W 1dP" IIIIZ7J77 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 ofmoney which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value of securities pledged shall be equal to not less than 11 0 percent ofthe public funds being secured after the deduction ofthe amount ofdeposit insurance. Ifa depository elects the pooled method (OCGA 45-8-13.1) the aggregate ofthe market value ofthe securities pledged to secure a pool ofpublic funds shall be not less than 110 percent ofthe daily pool balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case ofoperating funds placed in demand deposit checking accounts. Acceptable security for deposits consists of anyone 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 of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, (6) Industrial revenue bonds and bonds ofdevelopment authorities created by the laws ofthe State of Georgia, and ~ 17 - COLUMBIA COUNTY BOARD OF EDUCATION &&Z!I .. NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 301 2000 EXHffiIT "F" Note 2: DEPOSITS AND INVESTMENTS ~d (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 or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intennediate Credit Bank, the Central Bank for Cooperatives, the Fann Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association. CATEGORIZATION OF DEPOSITS At June 30, 2000, the bank balances were $8,456,955.09. The amounts ofthe total bank balances are classified into three categories of credit risk: Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) The Board's deposits are classified by risk category at June 30, 2000, as follows: Risk Cate~oa Bank Balance 1 $ 400,000.00 2 6,066,255.82 3 1,990,699.27 Total CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: Category 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name. Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool. - 18 .. COLUMBIA COUNTY BOARD OF EDUCATION d d ""'RIZ5' NOTES TO THE GENERAL ~ PURPOSE FINANCIAL STATE, MENTS ruNE 30, 2000 EXHffiIT "F" Note 2: DEPOSITS AND INVESTMENTS Is: .- ~ . . . . . zL ~ At June 30, 2000, the carrying value of the Board's total investments was $28,072,985.07. The investments are classified as to risk categories as follows: Tme of IlJvestment Common Stock 1 _. Risk Categories -- _ _ _------..1' _ _ _ 2_ 3 'IIi Carrying Amount Fair Value $; ; 1.~:Z.9lJ,96 $:==_=:,,."==O!!::::!:::::,O!!:::!!:O $F~T _ 0.00 $ 127,911~96 $ 127,911.96 Local Government Investment Pools 27,945,073.11 27,945,Q73.11 Total Investments The carrying amounts shown above includes amounts maintained in an investment pool by the State of Georgia, Office of Treasury and Fiscal Services in which the Board owns no identifiable securities. The investment policy ofthe State ofGeorgia, Office ofTreasury and Fiscal Services for the Local Government Investment Pool (Primary Liquidity Portfolio) does not provide for investment in derivatives or similar investments. A description ofthe Primary Liquidity Portfolio is as follows: The Primary Liquidity Portfolio consists ofGeorgia Fund 1, which is a combination local and state government investment pool, and Fund 6. Georgia Fund 1 is a stable net asset value investment pool which follows Standard and Poor's criteria for AAAm rated money market funds. The pool is not registered with the Securities and Exchange Commission as an investment company but does operate Georgia Fund 1 in a manner consistent with Rule 2a-7 ofthe Investment Company Act of 1940 and is considered to be a 2a-7 like pool. The pool's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal ($1.00 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and values participant's shares sold and redeemed based on $1.00 per share. Pooled cash and cash equivalents and investments are reported at cost which approximates fair value. The pool does not issue any legally binding guarantees to support the value of the shares. Participation in the pool is voluntary and deposits consist of funds from local governments; operating and trust funds ofGeorgia's state agencies, colleges and universities; and current operating funds of the State of Georgia's General Fund. Investments in Georgia Fund 1and Fund 6 are directed toward short-teon instruments such as U. S. Treasury obligations, securities issued or guaranteed as to principal and interest by the U. S. Government or any of its agencies or instrumentalities, banker's acceptances and repurchase agreements. The weighted average maturity of Georgia Fund 1 may not exceed 60 days. The weighted average maturity for Georgia Fund 1 on June 30, 2000, was 23 days. The average investment duration for Fund 6 on June 30, 2000, was .80 year.. - 19 ~ COLUMBIA COUNTY BOARD OF EDUCATION v NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30~ 2000 EXHffiIT "F" Note 3: NON-MONETARY TRANSACTIONS au The Board receives food commodities from the United States Department ofAgriculture (USDA) for school breakfast and lunch programs. These commodities are recorded at their Federally assigned value. See Note 1 - Inventories Note 4: RISK MANAGEMENT v I _ .. The Board is exposed to various risks ofloss 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 of general 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 other companies according to their specialty for property, boiler and machinery, general liability (including coverage for sexual harassment, molestation and abuse) and automobile risks. Payment of excess insurance for the system varies by line of coverage. 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 ofretained 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 of that loss can be reasonably estimated. An excess coverage insurance policy covers individual claims in excess of $250,000.00 loss per occurrence, up to the statutory limit. 4 Changes in the workers' compensation claims liability during the last two fiscal years are as follows: Beginning ofYear Liability_ Claims and Changes in Estimates Claims Paid . . . .m End of Year Liabilityr-_ 1999 2000 $ 158,377.55 $ M 5_7~31.07 $ 80J 918.06 $ 134,990:aS6 $ 1341990.56 $- 211,343.64 $ 142~164.76 $ 197,169.44 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: - 20 .. COLUMBIA ., IF COUNTY BOARD _ t_, _OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS d ... ruNE 30, 2000 EXHffiIT "F" Note 4: RISK MANAGEMENT ,... TIitIJ .... 1999 2000 Beginning of Year Liability_ Claims and Changes in Estimates $ 3.3-4".0.0 $ 280.00 _ J_ *_ _~............... $. $_PR'V 280.00 $ 245.16 $ --.... Claims Paid- End of Year . Liabilitx_ 334.00 $- - -2p -80.-00 525.16 $- - _....0.........0......0..... The Board has purchased surety bonds to provide additional insurance coverage as follows: Position Covered Superintendent All employees Amount $ 50,000.00 $ 200,000.00 Note 5-: GENERAL LONG-TERM DEBT GENERAL OBLIGATION DEBT OUTSTANDING General Obligation Bonds currently outstanding are as follows: _ _ _ _P_um_o.s..e.. _ Interest Rates Amount General Government - Series 1976 General. Government - Refunding - Series 1992 General Government - Refunding - Series 1993 General Government - Refunding - Series 1994 General Government .. Series 1994 A General Government - Refunding - Series 1998 6.00% - 6.75% 2.90% .. 6.00% 2.75% - 4.90% 2.80% - 5.20% 3.50% - 7.00% 3.10% - 4.35% $ 2,930,000.00 6,295,000.00 6,850,000.00 8,915,000.00 12,165,000.00 92725~OOO.00 $ 4Q,a~QaQQO.OQ Voters have authorized $16,000,000.00 in general obligation debt for capital outlay purposes disclosed in Note 1 which was not issued as of June 30, 2000. The changes in General Long-Tenn Debt during the fiscal year ended June 30, 2000, were as follows: Balance July 1, 1999 Deductions Debt Retired Balance June 30, 2000 Capital Leases General Obligation Bonds Total $ 443,676.48 $49,905,000.00 $50,348,676.48 443 2676.48 32025,000.00 3,4682676.48 . - 21 - COLUM- BIA COUNTY BOARD OF EDUCATION EXHmIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 2000 Note 5: GENERAL LONG-TERM DEBT F F At June 30, 2000, payments due by fiscal year which includes principal and interest for these items are as follows: . 2001 2002 2003 2004 2005 2006 - 2010 2011 .. 2012 General Obligation Bonds - $ 5,816,052.50 5,919,632.50 6,007,642.50 6, 108,497.50 6,208,637.50 23,940,070.00 9,912:1835.00 Total Principal and Interest Note 6: PRIOR YEAR DEFEASEMENT OF DEBT &L& _ In fiscal year 1999, 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. At June 30, 2000, $8,81 0,000.00 of bonds are outstanding and are considered defeased. . Note-7: ON-BEHALF PAYMENTS The Board has recognized revenues and expenditures in the amount of $1,200,154.30 for health insurance and retirement contributions paid on the Board's behalfby the following State Agencies. Georgia Department ofEducation Paid to the Georgia Department of Community Health For Health Insurance afNon-Certified Personnel In the amount of $904,289.74 Paid to the Teachers Retirement System of Georgia For Teachers Retirement System (TRS) Employer's Cost In the amount of $34,408.56 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 $261 ,456.00 - 22- _C.. OLUMBIA COUNTY BOARD OF EDUCATION ~ EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 2000 Note 8: SIGNIFICANT COMMITMENTS b h. Jd _ t nil The following is an analysis ofsignificant outstanding construction or renovation contracts executed by the Board as of June 30, 2000, together with funding available: Project Unearned Executed Contracts Funding Available From State 636-001 99/98S-636-008 00/99S-636-075 Fa9ade Upgrades Middle School Gyms/HVAC Renovation Painting Projects $ 475,699.50 612,297.09 566,955.98 131,490.18 21,000.00 6,268.09 $ 157,577.00 261,216.30 52,470.00 The amounts described in this note are not reflected in the general purpose financial statements. Note 9: 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 tenns. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. The Board is a defendant in various legal proceedings pertaining to matters incidental to the perfonnance of routine Board operations. The ultimate disposition of these proceedings is not presently determinable, but is not believed to be material to the general purpose financial statements. Note 10: SUBSEQUENT EVENTS On March 20,2001, the voters of Columbia County voted in favor of a Special Purpose Local Option Sales Tax referendum for education purposes. The reimposition of the tax approved by the voters, as stated on the Official Ballot of Columbia County, is as follows: "Shall a one percent sales and use tax for educational purposes ofthe Columbia County School District (the "School District") be reimposed within Columbia County for a maximum period of time of 20 calendar quarters, for the purposes of providing funds to pay (1) the cost of acquiring constructing, and equipping one new elementary school and one new middle school, adding and equipping new classrooms at existing high schools, acquiring land for future schools, adding to, renovating repairing, improving, and equipping existing school buildings and other buildings and facilities useful or desirable in connection therewith and acquiring any - 23- COLUMBIA C-OUNTY BOARD OF EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS F * d JUNE 30, 2000 EXHmIT "F" Note 10: SUBSEQUENT EYJ;,NTS necessary property therefore, both real and personal, (2) the cost ofacquiring instructional and administrative technology improvements for existing schools and acquiring school buses, the maximum cost of the projects described in clauses (1) and (2) above to be $42,067,795, and (3) the cost of retiring a portion of the School District's General Obligation Bonds, dated September 1, 1976, General Obligation Refunding Bonds dated December 1, 1982, General Obligation Refunding Bonds, Series 1993, General Obligation Refunding Bonds Series 1994, General Obligation Bonds, Series 1994-A, and General Obligation School Refunding Bonds, Series 1998, by paying or making provision for the payment ofthe principal ofand interest on such bond coming due on April 1, 2003 through October 1,2007, in the maximum amount of $27,932,205? Ifreimposition ofthe tax is approved by the voters, such vote shall also constitute approval of the issuance ofgeneral obligation debt ofthe Columbia County School District in the principal amount of $16,000,000 for the purposes set forth in clause (1) of the above question, to pay capitalized interest incident thereto, and to pay expenses incident to accomplishing the foregoing. " Note 11: ACCUMULATED EMPLOYEES' LEAVE The Board's administrative staff and certain other full-time employees eam one day per month of annual leave. Annual leave may be accumulated to a maximum of20 days, and upon retirement or termination ofemployment an amount based on unused leave, up to the maximum accumulation, is paid to employees at the employees rate ofpay at the time oftennination or retirement. See Note 1 - Compensated Absences Note 12: RETIREMENT PLANS TEACHERS RETIREMENT SYSTEM OF GEORGIA (TRS) I TRS PLAN DESCRIPTION Substantially all teachers, administrative and clerical personnel employed by local school systems are covered by the Teachers Retirement System ofGeorgia (TRS), which is a cost-sharing multiple employer defined benefit pension plan. TRS provides service retirement, disability retirement and survivors benefits for its members in accordance with State statute. The Teachers Retirement System of Georgia issues a separate stand alone financial audit report and a copy can be obtained from the Georgia Department of Audits and Accounts. TRS CONTRIBUTIONS REQUIRED AND MADE Employees ofthe Board who are covered by TRS are required by State statute to contribute 5% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees in accordance with State statute and as advised by their independent actuary. The required employer contribution rate is 11.29% and employer contributions . for the current fiscal year and the preceding two fiscal years are as follows: .. 24- COLUMBIT A COUNTY BOARD OF_ EDUCATION NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 1 JUNE 30, 2000 EXHIBIT "F" Note 12: RETIREMENT PLANS _ v Fiscal Year 2000 1999 1998 Percentage Contributed 100% 100% 100% Required C. ontribution- $ 6,805,858.91 $ 6,706,116.98 $ 6,072,051.78 - 25- COLUMBIA COUNTY BOARD OF EDUCATION ~T COMBINING BALANCE SHEET SPE-CIAL REVENUE FUND JUNE 30, 2000 ASS--E=TS Cash and Cash Equivalents Investments Accounts Receivable Prepaid Items Inventories Food Donated Commodities Purchased Food Total Assets LIABILITIES AND FUND EQUITY LIABILITIES Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Total Liabilities FUND eQUITY Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity See notes to the general purpose financial statements. - 26- SCHOOL FOOD SERVICES FUND LOTTERY PROGRAMS $ 11492,727.54 $ 202,684.97 1,074,668.03 3,938.30 22,917.57 15,561.88 20,423.62 ".., - $ 2,607,319.37 $ ===::::::2::2=5=,=6=0=2=.=5=4= $ 17,268.41 $ 64,189.17 230,285.74 161,413.37 . Lt.. _ $ _ _2_4_7_~554.15 $ ......._ _2_2_51~q2.54 $ 15,561.88 20,423.62 . 2,32~l779.72 $ _ __._.,......-......-_u0......0...;...;0_ $ 2,359z765.22 $ _~III ._O..;....O...;...;O~ $ 2,607,319.37 $ =======2=2==5=,=6=0=2=.=5=4== EXHIBIT "Gil FEDERAL PROGR-AMS TOTALS JUNE 30,2000 JUNE 30, 1999 $ 1,695,412.51 $ 1,501 ,401.48 1,074,668.03 1,015,810.90 $ 382,841.01 409,696.88 270,262.62 2,758.48 2,758.48 15,561.88 20,423.6, 2 24,043.83 18,678.74 $ 385,599.49 $ 3,218,521.40 $ 2,8,30,1.97.57 $ 65,265.65 $ 65.265.65 89,852.34 171 ,309.92 $ 157,627.71 228,969.28 620,668.39 550,056.85 990.02 990.02 1t 3,394.98 $ - -__00 38_q.,..O..._77_.2_9_ $ _ _8_5_8,233.98 $ _ _7_11....,..0. _7_9._54_ $ 522.20 $ 522.20 15,561.88 $ 20,423.62 24,043.83 18,678.74 0.00 2,076,395.46 $ 522.20 $ 2,360,287.42 ~-- t -_ --~-- $ 2,119, 11F~.03 $ 385,599.49 $ = =::::i:3:::t=2=1==8=,:5==2=1=.=4=0t-== $ =='='2:::,:Ii8:::.:3=..=0=,=I1F=. :9==7=.=5==7== - 27 ... COLUMBIA COUNTY BOARD OF EDUCATION _ .-I xl ~ 11III .. F 1 1M' t_ COM.BINI~G STATEMENT OF REVENUES, EXPENDITLJRES AND CH-ANGES IN FUND BALANCES SPECIAL REVENUE FUND IJIIIIII I yEAR ENDF;D JUNE 30, 2000 REVENUES _ dazl State Funds Federal Funds Other Funds Total Revenues EXPENDITURES ",..11I Current Instruction Support Services Pupil Services Improvement of Instructional Services General Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Services Operations Debt Service Principal Interest Total Expenditures Excess of Revenues over (under) Expenditures FUND BALANCE JULY 1 FUND BALANCE JUNE 30 SCHOOL FOOD SERVICES , FUND LOTTERY PROGRAMS $ 407,632.00 $ 1,725,230.78 1,846,365.81 3.482,496.64 $ 5,736,494.45 $ _ _1....,..7_2_5,2_30......7_8- $ 1,134,020.84 169,156.29 2,886.53 $ 5,495,847.26 364.12 399,382.75 .0... _ 19,1;20.25 TT $ _ _5,495,847.26 $"," 1,)725(230.78 $ 240,647.19 $ 0.00 -0-.-0-0- $ 2,359,765.22 F $ =========,:=_:=a===0==.0==0== See notes to the general purpose financial statements. - 28- EXHIBIT "Hit FEDERAL - -PROGRAMS TOTAL-_S. - - YEAR ENDED JUNE 30, 2000 JUNE 30, 1999 $ 2t 132,862.78 $ 1,934,540.33 $ 2,567,658.41 4,414,024.22 4,065,768.22 39,301.85 3,521 ,798~49 3,309,103.98 $ 2,606,960.26 $ 10,068,685.49 $ 9,309,412.53 $ 1,897,125.88 $ 3,031,146.72 $ 2,622,263.38 456,274.72 145,984.64 55 ,348.54 12,112.37 20,274.20 14,281.06 5,036.65 625,431.01 148,871.17 55,348.54 12,112.37 20,274.20 14,645.18 5,495,847.26 5,036.65 548,817.78 174,702.68 61,180.83 1,130.41 47,753.55 697.23 15,871 ,97 5,378,514.96 5.663.66 399,382.75 326~136.00 19 420.25 .za , on , ~ T _1 .1 _ L n 32,_ 4_88.00 .. $ 2,609l~38..:06 $ 9,827,516.10 $ _ _9t215,220.4~T $ 522.20 $ 241 t 169.39 $ 94.192.08 _ _ _ _0_;0-0- 2, 119, 118.0~. II ....IMwJ 2,02.4J~25.95 $ =======5=22=.2=0= $ 2,360,287.42 $ 2,119,118.03 - 29- COLUMBIA COUNTY BOARD OF EDUCATION , 11 111 lII!IL1 1 T V iiiiII:t -_ COMBINING.... BALANCE SHEET CAPITv AL_ PROJECTS FUNDb_ JUNE 3D! 2000 ASSETS Cash and Cash Equivalents Investments Accounts Receivable Total Assets LIABILITIES AND FUND EQUITY LIABILITIES Cash Overdraft Accounts Payable Contracts Payable Retainages Payable Tctal Liabilities FUND EQUITY Fund Balances Reserved For Purposes of Bond Issue For SPLOST Projects For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity BOND PROCEEDS GEORGIA STATE FINANCING AND INVESTMENT COMMISSION $ 111,440.59 $ 2,699,140.23 3,000,000.00 61,956.66 $ ======3=,=1=1=1==94==4=0==.5==9=- $ =====2=,7=6=1==,0=9=6=.=8=9= $ 313,821.81 $ 38,504.00 1,199,311.34 ... _ _ _ _3-4-6L~,1!.95 $ x= 38,594,00 $ .--..-_1,859,651.10 $ 3,072,936.59 $ -- -0.00 $ 3,0721936.5~y $ 901,445.79 0.00 lb.. :& .... I 9_0~1J~44_5_.7_.}__ $ =. "" 3,111 !440.59, $ =======2=,-7=.9=::::1'=09==:6=:8==9== See notes to the general purpose financial statements. - 30- EXHIBIT "1" SPECIAL PURPOSE LOCAL OPTION SALES TAX _ LOTTERY PROJECT 1 TOTALS Fb JUNE 30,2000 JUNE 30, 1999 $ 0.00 $ 2,810,580.82 $ 1,990,644.63 $ 2,184,247.84 5, 184,247.84 2,774,628.93 - 1,647,447.29 _--.i1,709,403.95 2,531,803.75 -$ d&& 3,831 ,695.13 $ _a 0.00 $ - . 9,704,232.61 $ 7,297,077.31 $ 1,777,395.10 - $ ----1-,-7.7--7-,-3-9-5-.1-0- $ 1,777,395.10 313,821.81 $ 1,237,815.34 346,517.95 11III , m $ 15,673.00 768,328.50 154,621.54 ru $ 2,O~4,300.03 $ 3,072,936.59 $ 1,080,888.70 2,054,300.03 4,311,651.70 901,445.79 965,913.87 - - - - - - 0.00 $ ill 0.00 0.00 F& - .0.. .00 $ 0.00 $ __ szL _....6,028,682:~ 1 $ ~_~-'358,454:27 $ =====3=,=8=3=1==,6:::9:::5::.:1=:3== $ - 0.00 $ 9,704,232.61 $ 7,297,077.31 - 31 - COLUMBIA COUNTY BOARD OF EDUCATION V" V' , V V'E.... __ b r. _ FF b IBt _ gOrylBINING STATEMENT OF ~_E.Y-~N~~S, EXP~NDITL!FlESAND CHA~.gES IN FUND BALANQES 111'_.. C A PIT _. L AL PR __6 _q O J E C T S F_U_ ND Y~.~R Ef\)QED JUNE 30, 200Q REV-ENUES State Funds Taxes Other Funds Total Revenues - EXPENDITURES Capital Outlay Land and Land Improvements Building and Building Improvements Equipment Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES1USESl Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) . Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1 FUND BALANCE JUNE 30 BOND PROCEEDS GEORGIA STATE FINANCING AND INVESTMENT COMMISSION $ 2,832,977.70 $ 7_5_,4__81_.0_4_ $ 75,481.04 $ -----2..,-8.3.2..,-9-7-7-.7--0- $ . 5,228.70 $ 559,694.18' 2,529.83 ,. ' 70,006.31 9,089,494.31 238,999.28 1.....'. - - - - - - - - -- $ _ _5_6_7,452.71 $ _.--i9,_3_9_8..,.4.._99_._90_ $ -491 ,971.67 $ -6,565,522.20 $ 2.584,663.00 $ _ _-1_0_0,64~.4j 6,501,054.12 11&&& 9 _ $ 2J 484,01 9.56 $ 6.J...5.....0....1.....,..0.._54_._1?--... $ 1,992,047.89 $ 1,080,888.70 L -64,468.08 $ 3,072,936.59 .11 T If $ =======9==0=1=,4=:4:=5=.=7:9== See notes to the general purpose financial statements. - 32- EXHIBIT "J" SPECIAL PURPOSE LOCAL OPTION SALES TAX LOTTERY PROJECT TOTALS YEAR ENDED --J_UN..E..3.0-, .2-0_00.- --J-U-N--E--3.0.,;1"9..9.9-- $ $ 3,693,653.00 198,120.17 $ 3.891,773.17 $ 653,870.84 $ 3,486,848.54 $ 3,693,653.00 273,601.21 653,870.84 $ 7,454,102.75 $ -~-~-- 1,138,519.16 3,841,781.44 189,801.06 5,170,101.66 $ 528.65 $ 0.00 $ 75,763.66 $ 70,418.11 706,574.35 195,482.00 10,355,762.84 4,555,468.74 _._- 437,011.11 1,999.00 an _ I V F16 .-...-:-- - - .- $ 902,585.00 $ .-...... O~. _OO_ $ .10L868,537.~.1 $. 4,62~,~~5.85 $ 2,989, 188.17 $ 6_5_3_,8__70..~..4. _ $ -3,414,434.86 $ ......~_5_4~21.5.~1 $ 2,286.34 $ 9,088,003.46 $ 4,268,947.69 -5,248,826.18 $ -653,870.84 ~-----..I ..------...L- -6,003,340.46 T1 ILL I ...:.1 ,551 ,283.69 TIl $ -5,246,539.84 $ d -653,8?O.84 $ ~,084,663.0Q $.. ' 2z717,1.00 $ -2,257,351.67 $ - 0.00 $ 0.00 . F -329,771.86 $ 6,35~,494.27 3,259,879.81 $ 2.054,300.03 $ 0.00 $ 6,028.682.41 $ ====.==6=,=3=5=8=,=4=5==4.=,.=2=7== - 33- CO__*LUMBIA COUNTY BOARD 1. . . F OF EDUCATION COMBINING BALANCE SHEET,- DEBT SERVIC E FUND dJJIZ __Mr ~UNF ~Q~ 2000 EXHIBIT "K" ASSETS Cash and Cash Equivalents Investments Accounts Receivable PROPERTY TAXES FOR BOND DEBT _ FTfT1IIL& SPECIAL PURPOSE LOCAL OPTION SA-LES TAX $ 0.00 TOTA-L-S- JUNE 30, 2000 JUNE 30, 1999 n $ 17,160.29 $ 196,733.55 $ 196,733.55 94,767.70 305.54 Total Assets $ =====19=7==,O=~~=.0=9= $ ========O=:;~O==SJ== $ ========19=7==,0=39==.0==9.== $ 144.760.66 {42 LEt = FUND EQUITY , Fund Balances Reserved For Debt Service Unreserved Undesignated $ 197,039.09 $ 197,039.09 $ 144,760.66 o~oo $ - - - - -0.0-0 dE L 0.00 0.00 n Total Fund Equity $ $ 0.00 -==-I====1==97=J==03==9=:.,"0==9== $ _ - - - - - - - - - _... - ..... ...._- ...... ~--- 144,760~66 L g See notes to the general purpose financial statements. - 34- COLUMBIA COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUESzIc EXPENDITURES !,~D CHANGES ,~ FUND BALANCES DEBT SERVICE FUND F Y~A_R ENDED JUNE 3D. 2000 EXHIBIT "L" REVENUES PROPERTY TAXES FOR BOND DEBT 11 SPECIAL PURPOSE LOCAL OPTION SALES TAX TOTALS U IIIIfZ7 IT T' :zI&& &&JZIi ..... ...-a1LI YEAR ENDED ,I ..... ......, JUNE 30, 2000 JUNE 30, 19T~~ Taxes Other Funds Total Revenues $ 71,410.01 $ 5,623,395~49 $ 5,694,805.50 $ 5,453,494.81 - 8,846~43 _~J.~6.43 $IR' 58,368.~~ $ EXPENDITURES d Debt Service Principal Interest Paying Agent Fees $ 3,025,000.00 $ 3,025,OOO~OO $ 2,895,000.00 $ 20,129~51 2,598t395~49 2,618,525.00 2 t 748.492.53 7,848.50 7,848.50 11 r502.~3 Total Expenditures 27,978.01 $ 5,623,395.4~_ $ _ 546511373~?~. $ 5,654,995.36 Excess of Revenues over (under) Expenditures 52,278.43 $ 0.00 $ 52,278.43 $ OTHER FI~ANCING SOURCES (USES} Accrued Interest on Bonds Sold Refunding Bond Issuance Cost Proceeds of Refunding Bonds Par Value Payments to Bond Escrow Agent $ 33,259.98 -139.832.47 10,000.000.00 -9,852,181.97 Total Other Financing Sources (Uses) $ 41,245~54 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ 52,278.43 $ 0.00 $ 52,278.43 $ 101.886~53 - FUND BALANCE JULY 1 144,760.66 0.00 144,760.66 246~647~19 .'v__ FUND BALANCE JUNE 30 IIll $ I J. d 19?,039.09 $ 0.00 $ _ _1_9403~Tq9ill $ _ _144_,760.66 See notes to the general purpose financial statements. - 35- CoLUMBIA CoUNTY BOARD of EDUCATIoN SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 1 YEAR ENDED JUNE 30, 2000 SCHEDULE "1" FUNDING AGENCY PROGRAM/GRANT CFDA NUMBER Agriculture, U~ S. Department of Child Nutrition Cluster Pass..Through From Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program National School Lunch Program Total Child Nutrition Cluster Other Programs Pass-Through From Georgia Department of Education Food and Nutrition Program Food Distribution Program (1) Pass..Through From Office of School Readiness Food and Nutrition Program . Child and Adult Care Food Program 10.550 10.558 Total U. S. Department of Agriculture Education. U. S. Department of Special Education Cluster Pass-Through From Georgia Department of Education Individuals with Disabilities Education Act Part B Special Education Flow Through Preschool Capacity Building and Improvement Grant 84.027 84~ 173 84~ 173 Total Special Education Cluster Other Programs Direct Impact Aid Pass-Through From Board of Regents of the University System of Georgia Title II Teacher Quality Enhancement Program Pass-Through From Georgia Department of Education Comprehensive School Reform Demonstration Project Elementary and Secondary Education Act Title I Grants to Local Educational Agencies Title II Eisenhower Professional Development Title VI Innovative Education Program Strategies Class Size Reduction Goats 2000 State and Local Education Systemic Improvement Grants Safe and Drug-Free Schools and Communities Vocational Education - Basic Grants to States High School Program Basic Grant 84.041 84.366 84.332 84~O10 84.281 84.298 84.340 84.276 84.186 84.048 Total U. S. Department of Education Defense, U~ S. Department of Direct Department of the Army R.O.T.C. Program PASS- THROUGH ENTITY 10 NUMBER * L. FEDERAL REVENUE IN PERIOD .. Ldi _ EXPENDITURES IN PERIOD N/A N/A $ 240,604.40 1t290, 194~68 $ _... \ 1 rd. 'I ,rq (2) __5J ,1.~O~61 ~~~?If (3) 5,190,618.26 N/A 305,229.00 305,229.00 N/A 10,337.73 _ _ _(.2..)........-._ _ $ 1,846,365.81 $ 5,495,847.26 N/A $ 748.298.23 $ NlA 89,114.55 N/A 33,716.80 $ 871 t 129.58 $ 748t 298.23 89,114.55 33,716.80 871 1129.58 62,720.97 (4) N/A 319.01 319.01 NlA 44,838.19 44,838~19 N/A 934,660.63 934,660.63 N/A 60.023.25 59,501.05 N/A 75,688.93 75t 688.93 NlA 213,296.00 213,296.00 N1A 73;455.00 73.455.00 NJA 80,179.79 80.179.79 NlA 826 306.00 $ 2 t498,617.35 $ 82,306.00 2,435,374.18 S 131.762.03 $ 131,762.03 _ _ _....i,-. _ Total Federal Financial Assistance N1A = Not Available 36- $ 4.476J45~19 $ _ _8;062,983.47 COLUMBIA COUNTY BoARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS YEAR ENDED JUNE ~Q, 2000 Notes to the Schedule of Expenditures of Federal AWgrds (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 2000 National School Lunch Program~ (3) Expenditures for this program include State. and/or Other Funds. . Expenditures are not maintained by fund source. (4) Funds earned on this program do not require reporting of expenditures. Major Programs are identified by an asterisk (*) in front of the CFDA number. The Board did not provide Federal Assistance to any Subrecipient The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of the Columbia County Board of Education and is presented on the modified accrual basis of accounting which is the basis of accounting used in the presentation of the general purpose financial statements. SCHEDULE "1" See notes to the general purpose financial statements. ~ 37- COLUMBIA CoUNTY BoARD of EDUCATioN ~CHEDULE OF STATE REVENUE YEAR ENDED JUNE 30,2000 SCHEDULE "2" AGENCY/FUNDING _F'II" _ GOVERNMENTAL FUND TYPES __ dE _ .. II _ * ... d IPVJSIZ5F SPECIAL CAPITAL GENERAL REVENUE PROJECTS __ FUND FUND FUND _ IF _ TOTAL GRANTS Community Affairs, Georgia Department of local Assistance Grants $ 485.000.00 $ 485,000.00 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 Students Program Middle School Incentive Program Special Instructional Assistance In-School Suspension Counselors Technology Specialist local Five Mill Share Deferred Summer Salaries (Prior Year) Deferred Summer Salaries (Current Year) Educational Equalization Formula Food Services Other State Programs Alternative Program Apprenticeship Program At-Risk Summer School Program Govemor's Emergency Funds (1 ) Health Insurance Innovative Programs Mentor Teachers Pay for Performance Preschool Handicapped Program Remedial Summer School Teacherst Retirement Lottery Programs Assistive Technology Computers in the Classroom Exceptional Growth-Capital Outlay 42.386,472.00 6.173,492.00 667,527~OO 1,760,305.00 469,858.00 10.456, n3~OO 1.480. 150.00 427.134.00 55,826.00 1,501,627.00 99.183~OO 307t171~OO 190,814.00 173,054.00 -9.013.733~OO --8,307.017.00 8,746,570.00 4.335,203.00 $ 407,632.00 310,152.00 2.0oo~OO 29.988.83 7.500.00 904t 289.74 5,000.00 7,452.00 72,000.00 190,973.00 10,010.54 34,408.56 45t834.57 418,803.00 $ 653.870.84 42~386.472.00 6 t 173.492~OO 667t527~OO 1,760,305.00 469,858~OO 1O.456t773~OO 1,480. 150.00 427.134.00 55.826.00 1,501.627~OO 99,183.00 307,171.00 190,814.00 173.054.00 -9,013,733.00 -8.307,017.00 8,746.570.00 4,335,203~OO 407,632.00 310,152.00 2.000.00 29,988.83 7,500~OO 904,289.74 5,OOO~00 7,452.00 72,000.00 190t973~OO 10.010.54 34.408.56 45,834.57 418.803.00 653,870.84 Georgia State Financing and Investment Commission Reimbursement on Construction Projects 2,832,977.70 2,832,977.70 Office of School Readiness Pre-Kindergarten Program 1,260,593.21 1,260,593.21 Office of Treasury and Fiscal Services Public School Employees Retirement 261,456.00 261,456.00 CONTRACTS Education, Georgia Department of Elementary School Foreign Languages Model Program 48,430.00 Reading First Program 38.881.00 School Programs for Students in Grades 4-8 85,500.00 4 48.430.00 38t 881.00 85,500.00 & (1) The purpose of the funds is to provide funds for improvement to the softball stadium at Lakeside High SchooL See notes to the general purpose financial statements. - 39 CoLUMBIA CoUNTY BQARD OF EDUCATION SCHEDULE QF APPROVED LOCAL OPTION SALES TAX PROJECT~ YEAR ENDED JUNE 30, 2000 SCHEDULE "3" PROJECT Payment of Principal and Interest on the Outstanding General ObJigation Bonds of the District Which Fall Due From October 1. 1997 Through October 1.2002. This Does Not Include the Entire Amount of Such Payments. The Balance of Such Payments Shall be Made From Other Funds of the District Construction of lakeside High School Technical Laboratory and Modification of Technical Laboratory at Evans High School Acquisition of Land in the Grovetown Area as a Site f~r Future Schools Renovations and Improvements to the Stadiums at Evans High School, Lakeside High School, Greenbrier High Schoot and Har1em High School Addition of Ten Classrooms at Blue Ridge Elementary School Construction of a New Middle School Purchase of School Buses Replacement and Refurbishment of Flooring at Belair Elementary School, Evans Middle School, Brookwood Elementary School Gym, Columbia Middle School, North Harlem Elementary School. North Columbia Elementary School. Westmont Elementary School, Hanem Middle School and Grovetown Elementary School Paving Projects at the Transportation Facilities of the School District. the Maintenance Facilities of the School District. the Evans High School Track. the Harlem High School Track, and the Parking Facilities for Hartem High School, Westmont Elementary School, North Columbia Elementary School, Martinez Elementary School. Brookwood Elementary School. Evans Elementary School. Harlem Middle School. Columbia Middle School, and South Columbia Elementary School Electrical Upgrades to Support Automation in All Schools Purchase of Computers for All Schools ORIGINAL ESTIMATED COST (1) CURRENT ESTIMATED COST (2) ~zL AMOUNT EXPENDED IN CURRENT YEAR (3) _~ AMOUNT EXPENDED IN PRIOR YEARS (.4...... )_ IE $ 29,636,433.00 $ 29t636,433~OO $ 5,643,525.00 $ 11, 154t 777.53 405,OOO~OO 500,000~OO 405,000.00 (5) 404,951.06 6.388.82 1,850,000.00 1.850,000.00 670,000.00 7,200,000.00 1,200,000.00 924,753.09 10.485,086.99 1,200,000.00 87.187.98 8.341,202.69 195,482.00 1,745,852.82 924,753.09 897,115.10 1,400,000.00 1,400,000.00 ,~ . 25,971 ~OO 1.400.000.00 2,000,000.00 2,500.000.00 1,400,000.00 2,000,000.00 2,500.000.00 261,673.30 708,892.58 -40 - COLUMBIA COUNTY BOARD QF EDUCATioN SCHEDULE OF APPROVED LOgAl oPTION SALES TAX PROJECTS, YEAR ENDED JUNE 30b 2DOO SCHEDULE "3" PROJECT Painting at Evans High School, South Columbia Elementary School, Belair Elementary School. Martinez Elementary School, Harlem High School t Blue Ridge Elementary School, North Columbia Elementary School. and Harlem Middle School ORIGINAL ESTIMATED COST (1) _w w CURRENT ESTIMATED COST (2) $ 800,000.00 $ Canopies at Euchee Creek Elementary School and Greenbrier Elementary School 50,000.00 48,269.50 Replacement and Renovation of Windows at Columbia Middle School, Evans Middle School t Harlem Middle School and North Columbia Elementary School 750,OOO~OO 750,000.00 Facade Upgrades at Martinez Elementary School and Hartem Middle School 600,000.00 600,000.00 Replacement of Heating t Ventilation and Air Conditioning Systems and Ro,of of Evans Elementary School 525,000.00 525,000.00 Modifications and Renovations at Crossroads Academy Alternative School 250.000.00 250,000.00 Acquisition and Installation of Energy Management Control Systems in All Schools 263.567.00 263,567.00 AMOUNT EXPENDED IN CURRENT 46,112.14 64,763~82 AMOUNT EXPENDED IN PRIOR ':(~~RS (........,,&) 4 _ 435.178.76 48.269.50 ......._- - - $ 52,000,000.00 $ II I.F. - -..... 55t038,109.58 $ 14,887,312.69 $ aw~ n - I - 16,538,038~12 (1) The Board's original cOst estimate as specified in the resolution calling for the imposition of the Local Option Sales Tax. . (2) The Boardts current estimate of total cost for each project.. Includes all cost from project inception to completion. (3) The voters of Columbia County approved the imposition of a 1% sales tax to fund the above projects~ Amounts expended for these projects may include sales tax proceeds, state, local property taxes and/or other funds over the life of the project. (4) In addition to the expenditures shown above. the Board has incurred interest expense to provide advanced funding for the above projects as follows: Prior Years $ 2,765.78 Current Year T L _ 0.00 Total $ ___2.765_.7_8 IIIi~"' (5) Land was donated to the Board in December 1998 for the purpose of constructing a school. See notes to the general purpose financial statements. 41 - COLUMBIA COUNTY BOARD OF EDUCATION III. - m ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL FIIIIit u ~ F _ _ _LL GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS T 7 _ YEAR Et-JDED JUNE 30. 2000 SCHEDULE "4tt 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 FOURTEEN WEIGHTED AND MEDIA CENTER - PROGRAMS 1000/0 TEST FOR OPERATIONS PORTION OF FOURTEEN WEIGHTED PROGRAMS ---------------- $ 50,987,796.00 $ 1,504,393.00 $ 57,821,851.52 $ 3,604,805.01 711I F - . z. . .h 3,246,582.93 _ $ 61,426,656.53 I --644,, 346.59 $ __._6_0.,.~.._q_82....,.3. _0...~.._. ,9_4 Amount of Underexpenditure for Total Allotment $ 0.00 $ ================0=.=0=0= Note: (1) Salary accruals (July and August 2000 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 1999 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. - 43 - COLUMBIA QOUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDrTURE REQUIREMENTS .. BY PROGRAM GENERAL FUND .. QUALITY BASIC EDUCATIQN PROGRAMS YEAR ENDED....J.UNE ~ 2000 GENERAL AND CAREER EDUCATIQN PROGRAMS Kindergarten (-) Grades 1 .. 3 (*) Sub-Tatal - K-3 Grades 4 - 5 (*) Grades 6 8 C*) 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 (*) category V (*) Sub-Total RegUlar Category VI (Gifted) (*) Tatal Special Education Programs REMEDIAL EDUCATioN P8..Q~~AM.t:l Total Fourteen Weighted Programs M~QIA Ce~TE~ PRoGRAMS Salaries Operations Total Media Center Programs Total Fourteen Weighted and Media center Programs STAFFD~Lo~MENTPRQG~MS Cost of Instrudion Professional Development ALLOTMENTS _ _ d,. III _ . . FROM GEOR.vG._IA DEPARTMENT OF REQUIRED ORIGINAL % ORIGINAL MIDTERM $ $ 3,526,197.30 $ 0.00 11,520.441.00 10,368,396.90 JsI Rlif $ 15.438,438~OO 90 $ 13,894.594.20 $ 0.00 5t693,991.00 90 9,065,597.00 90 8, 159,037.30 6,435,201.00 90 5,791,680.90 3,885,312.00 90 3.496,780.80 1,867.933.00 'I' _r_ S 42f386t472~OO - - 90 1,681,139.70 - - - - - - $ 38,147,824.80 $ as... 0.00 $ 5.176,235.00 $ 4,658,611.50 $ 0.00 $ 5.176,235.00 90 $ 4.658.611 ~50 $ o~oo 997,257.00 90 897,531.30 $ 6,173,492.00 $ 667,527.00 $ 49,227,491~OO $ 90 $ $ - - - - - - 5,556,142.80 $ 0.00 - - - - - - 600,774.30 $ 0.00 - - - - - - 44,304,741.90 $ - 0.00 $ 1,406.045.00 90 $ 1,265,440~50 S 354,260.00 100 354,260.00 0.00 S 1.760t 305.00 - - - - - - $ 1,619,700.50 S 0.00 $ 50,987.796.00 -----== $ 45.924,442.40 S 0.00 $ 152,669.00 317,189~OO S 152,669.00 S 317,189.00 0.00 0.00 Total Staff Development Programs (*) Identifies Fourteen Weighted Programs. (1) Salary accruals (July and August 2000 Deferred Salaries) reported as expenditures 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. $ 469,858.00 100 S_1:I::a4I:6l-9=,=8=5.8...0.-0=:. $ 0.0_0 (2) Salary accruals (July and August 1999 Deferred Salaries) reported as expenditures in the prior year General Purpose Financial Statements are included on this analysis as required by program guidelines. 44 SCHEDULE -5- EDUCATION TOTAL REQUIRED b 11II IIIIIc& ..... 1IIItI'II'1Z ACTUAL EXPENDITURES 2iiiiiiAidJ .-MIL SALARIES (1 )(2) _~~..E~!I9NS TOTAL z1d AMOUNT OF UNDEREXPENDITURE FOR REQUIRED ALLOTMENT ppzz , $ - 3,526,197.30 $ 4,521,427.99 $ 10,368.396.90 12,5641071.97 . .&&ZIs 2iiiIIIIIIl H $ 13,894,594.20 $ 17,085.499.96 $ 5,124,591.90 7,091,330.24 8.159,037.30 9.904.461.17 5,791.680.90 7,088,182.15 3,496,780.80 4,393,4 75~36 1.681, 139.70 - 1-'1. $ $ _r 3 _t 8* , 1 4 7 , 8 2 4 IE .8 ~_ 0 . 2,0961293.54 aJr. 47,659.242.42 $ _d ...-.r 196,991~38 $ 4.718,419.37 517,348.58 I 714.339.96 S 13.081,420.55 7751vP 17,799,839.92 $ 427.105.51 7,518,435.75 801,064.36 770.388.19 10,7051525.53 7,858,570.34 147,640.58 4.541,115.94 209,671.63 d 3,070,210~23 $ - 2,305,965.17 50,729,452.65 _. 0.00 0.00 0.00 0.00 0.00 0.00 $ 4,658,611 ~50 $ 795,518.54 $ 882.893.29 4,064t530.62 394.615.82 67,924.01 6,512.84 $ 9,764.55 95,757.59 2,088.68 6,057.88 802.031.38 892,657~84 4 t 160,288.21 396,704.50 73,981.89 120,181.54 $ 6,325,663.82 ~,531.30 $ 1,050,465.41 r m 7.255,947.69 S 44.706.81 164.888.35 $ 1,095,172.22 7.420.836.04 $ 860,231.90 $ 11.484.35 S------- 0.00 $ 44,304,741.90 $ 55,775.422.01 $ 3 f 2461582.93 S 59.022t 004.94 $ 1.265,440.50 $ 2;046,429.51 $ 2,046,429.51 0.00 354,260.00. _ _- - - - $ 3_58. .,.2_2_2 _08- ~58t222.08 0.00 $ 1.619,700.50 $ 2,046,429.51 $ 358.222~08 S 2,404.651 ~59 I1 v ===:1=========-=== $ 45,924.442.40 $ 57,821.851.52 $ =r [ 3,604,8=05.01 $ 61,426,656.53 $ Jl Ii: ; , -==:=='_m ---- $ 152f 669.00 317,189.00 $ 469,858.00 2 $ 361,691.66 S 361,691.66 108,469.22 108.469.22 -------- s 470,160.88 $ 470,160.88 $ 0.00 Jl 45 - .. SECTION II COMPLIANCE AND INTERNAL CONTROL REPORTS over financial reporting and its operation that we consider to be a reportable condition. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control over financial reporting that, in ourjudgment, could adversely affect Columbia County Board of Education's ability to record, process, summarize and report financial data consistent with assertions ofmanagement in the financial statements. The reportable condition is described in the accompanying Schedule ofFindings and Questioned Costs as item FS-6361-00- 02. A material weakness is a condition in which the design or operation of one or more ofthe internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the nonnal course of perfonning their assigned functions. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control that might be reportable conditions, and accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses. However, the reportable condition described above is considered to be a material weakness. This report is intended solely for the infonnation and use ofmanagement, members ofthe Columbia County Board ofEducation, Federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties. Respectfully submitted, . RWH:jb 2000YB~40 Rus ell W. Hinton Stat Auditor RUSSI~I~L. W. HINTON STATE AUDITOR (404j 6562174 ..,.,.. .I. . ?,.,; ~ + ...... ./-', /.~ l" -"71(1. ... '. t, .~ .~,'II' A~ ,~~(", -f'~ :~ - ".: - , ' J..:t j ' ~-. f ~1:- ~~ . II 1 ... ~ '~fiV ~--.- - - ---_......... ~ DEPARTMENT OF AUDITS AND ACCOUNTS -...,)- 4 Wast-JI n gL()11 S .. l r ~Sc l~W ~ 10 ~,,~SU'Il C '-") 14 Allanta. Gc()rgia 3()334-X4()() April 10, 2001 . Honorable Roy E. Barnes, 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 QN COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR P- ROGRAM AND- ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULARA-133 Ladies and Gentlemen: We have audited the compliance of Columbia County Board of Education with the types of compliance requirements described in the U.S. Office ofManagement and Budget (OMB) Circular A-I33 Compliance Supplement that are applicable to each ofits major Federal programs for the year ended June 30, 2000. Columbia County Board ofEducation's major Federal programs are identified in the accompanying Schedule ofFindings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to each of its major Federal programs is the responsibility of Columbia County Board of Education's management. Our responsibility is to express an opinion on Columbia County Board of Education's compliance based on our audit. We conducted our audit ofcompliance in accordance with generally accepted auditing standards; the standards applicable to financial audits contained in ,9ovemment Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types ofcompliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the Columbia County Board of Education's compliance with those requirements and perfonning such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal detennination on Columbia County Board of Education's compliance with those requirements. 2000SA-IO SECTIONID AUDITEE'S RESPONSE TO PRIOR YEAR FINDINGS AND QUESTIONED COSTS COLUMBIA COUNTY BOARD OF EDUCATION 11 , IPWiI :I Jsz AUDI1EE'S RESPONSE I &&JZIi Q . SUMMARY SCHEDULE OF PRIOR YEAR,FINDINGS AND QPES1IONED COSTS YEAR ~NDED JU1'iE 302 2000 PRIOR YEAR FINANCIAL S1A1Et.vIENT=FINDmG_S AND QUESTIONED CQSTS FINDING CONTROL NUMBER AND STATUS FS-6361-98-02 FS-6361-99-01 Further Action Not Warranted Unresolved - See Corrective Action/Responses CORRECTIVE ACTIONIRESPONSES GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Finding Control Number: FS-6361-99-01 The school System hired a fixed asset analyst in November, 1999. She has begun recording assets (equipment) for years 1998-99 and forward on a software system. She began gathering data for the buildings and land cost in the summer 02000. We plan to be in compliance with the new guidelines for summer of 2001, if not before. ... SECTION IV FINDINGS AND QUESTIONED COSTS , -COLUMBIA COUNTY BOARD OF EDUCATION SCJlEDULE OF FINDINGS AND QUESTIONED COSTS YEAR. ENDED JUNE 30, 2000 I -SUMMARY OF AUDITOR'S RESULTS 1. Jype of Report Issued on the Financial Statements . The auditor's opinion on the Columbia County Board ofEducation's financial statements was qualified for various departures from generally accepted accounting principles. 2. Rwortable Conditions in Internal Control Disclosed by ~he Audit of the Financial Statement! The audit report for the Columbia County Board ofEducation disclosed a financial statement reportable condition related to the following control category. General Fixed Assets The reportable condition described above is considered to be a material weakness. 3. Noncompliance Material to the Financial Statements The audit of the Columbia County Board of Education disclosed no instances of noncompliance that were deemed to be material to the financial statements. 4. Renortable Conditions in Internal Control Over MqQr.~rograms The audit report for the Columbia County Board ofEducation did not disclose any reportable conditions in internal control over major programs. 5. Type qfRep,ort Issued o~. Comnliance for Major..frograms The auditor's opinion on the Columbia County Board ofEducation's report on compliance with requirements applicable to major programs was unqualified. 6. Audit Findings Reguired to be RsmQI1ed by Sectjpn_.510(!} ofQMB Circular,,!,\.-133 The Columbia County Board ofEducation's audit did not disclose audit findings required to be reported by section .510(a) ofOMB Circular A-133. 7. Maiot: ~rograms Federal awards audited as major programs are as follows: 10.553 Food and Nutrition Program - Food Services - School Breakfast Program 10.555 Food and Nutrition Program - Food Services - National School Lunch Program 8. Txpe nAn Program Dollar Threshold The dollar threshold for type "A" programs was $300,000.00. 9. Low Risk Auditee The Columbia County Board of Education was audited as a low risk auditee based on a waiver granted by the U. S. Department of Education. - 1 .. COLUMBIA COUNTY BOARD OF EDUCATION _.. fr. S~J:IEDULE OF fINDINGS AND QUESTIONED CQ~TS YEAR ElWED ~ 30, 2090 IT FINANCIAL STATEMENT FINDINOS AND QUESTIONED CQS_TS GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Reportable Condition-Material Weakness Repeated From Prior Year Finding Control Number: FS-6361-00-02 Management's Response: The school system hired a fixed asset analyst in November 1999 and plans to be in compliance at year ended June 30, 2001. ill FEDERAL AWARD FINDINGS AND QUESTIONED COST~ 4 No matters were reported. -3-