GA A<oCJO 
. RI 
E2<o 
C.~7 19l'flf-95 
 
_________ ___ ---- -----~-----"- .~-- -~-- --~--- ____ .,. 
 
--~----- ----~---- - - -- 
 
.,,., ; 
 
STATE OF GEORGIA DEPARTMENT OF AUDITS 
254 WASHINGTON STREET 
ATLANTA. GEORGIA 30334 
 
 AUDIT REPORT COWETA COUNTY BOARD OF EDUCATION 
NEWNAN, GEORGIA YEAR ENDED JUNE 30, 1995 
 
 COWETA 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 
 
ALLFUNDTYPESANDACCOUNTGROUP 
 
2 
 
B 
 
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES 
 
ALL GOVERNMENTAL FUND TYPES 
 
4 
 
C 
 
STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 
 
(NON-GAAP BASIS) 
 
GENERAL AND SPECIAL REVENUE FUNDS 
 
5 
 
D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
7 
 
ADDITIONAL FINANCIAL INFORMATION 
 
COMBINING AND INDIVIDUAL FUND STATEMENTS 
 
SPECIAL REVENUE FUND 
 
E 
 
COMBINING BALANCE SHEET 
 
22 
 
F 
 
COMBINING STATEMENT OF REVENUES, EXPENDITURES 
 
AND CHANGES IN FUND BALANCES 
 
24 
 
CAPITAL PROJECTS FUND 
 
G 
 
COMBINING BALANCE SHEET 
 
26 
 
H 
 
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND 
 
CHANGES IN FUND BALANCES 
 
28 
 
I 
 
FIDUCIARY FUND TYPE 
 
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES 
 
AGENCY FUND 
 
30 
 
SCHEDULES 
 
1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 
 
31 
 
2 CASH AND CASH EQUIVALENTS 
 
33 
 
3 INVESTMENTS 
 
34 
 
 COWETA COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - 
 
SECTION I 
 
FINANCIAL 
 
ADDITIONAL FINANCIAL INFORMATION 
 
SCHEDULES 
 
4 ACCOUNTS RECEIVABLE 
 
35 
 
5 DEBT SERVICE REQUIREMENTS TO MATURITY 
 
36 
 
SCHEDULE OF REVENUE 
 
6 
 
STATE 
 
38 
 
7 
 
LOCAL AND OTHER 
 
39 
 
SCHEDULE OF EXPENDITURES BY OBJECT 
 
8 
 
GENERAL AND SPECIAL REVENUE FUNDS 
 
41 
 
9 
 
LOTTERY PROGRAMS 
 
42 
 
ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS 
 
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 
 
10 
 
OVERALL 
 
45 
 
11 
 
BYPROGRAM 
 
46 
 
12 SCHEDULE OF TRAVEL OF BOARD MEMBERS 
 
48 
 
SECTION II 
COMPLIANCE 
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS 
SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS 
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS 
 
 COWETA 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 
 
 SECTION I FINANCIAL 
 
 CLAUDE L. VICKERS 
STATE AUDITOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation 
and Superintendent and Members ofthe Coweta County Board ofEducation 
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 
Ladies and Gentlemen: 
We have audited the general purpose financial statements (Exhibits A through D) of the Coweta County Board of Education, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. 
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the .provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. 
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. 
 
95ARL-13* 
 
 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. 
* School activity accounts maintained at the individual schools are not included in the general purpose 
financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. 
* The Board did not recognize as expenditures, in the year ended June 30, 1995, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were improperly recorded in the year ended June 30, 1995. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. 
The 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 of such adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Coweta County Board of Education as of June 30, 1995, and the results ofits operations 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 22, 1996, on our consideration ofthe Board's internal control structure and a report dated May 22, 1996, on its compliance with laws and regulations. 
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Coweta County Board ofEducation taken as a whole. The combining and individual fund statements (Exhibits E through I) and the financial schedules (Schedules 1 through 12 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Coweta 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 effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. 
95ARL-13* 
 
 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, 
~~ 
Claude L. Vickers State Auditor 
CLV:gp 95ARL-13* 
 
 COWETA COUNTY BOARD OF EDUCATION - 1- 
 
 ASSETS 
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 
Total Assets 
 
COWETA COUNTY BOARD OF EDUCATION 
COMBINED BALANCE SHEET 
ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1995 
 
GENERAL FUND 
 
GOVERNMENTALFUNDTYPES 
 
SPECIAL 
 
CAPITAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
$ 1,026,952.65 $ 139,269.60 $ 745,922.35 
 
4,306,318.18 
 
226,796.61 
 
6,444,578.92 
 
684,534.01 
 
668,868.59 
 
44,978.00 
 
63,912.71 49,826.01 
 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Funds Held for Others Capital Lease Agreements General Obligation Bonds Payable 
Total Liabilities 
FUND EQUITY 
Fund Balances Reserved For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purposes of Bond Issue For State Capital Outlay Projects 
Unreserved Undesignated 
Total Fund Equity 
 
$ 
 
23,740.38 $ 
 
54,348.18 
 
22,714.11 
 
331,539.13 
 
4,785.80 
 
85,180.35 
 
$ 340,655.00 
 
397,084.00 
 
$ 
 
51,240.29 $ 471,067.66 $ 737,739.00 
 
$ 106,349.85 
 
$ 
$ 106,349.85 $ 5,905,192.70 
$ 6,011,542.55 $ 
 
63,912.71 49,826.01 
$ 
 
2,140,652.02 374,512.04 
 
113,738.72 $ 2,515,164.06 
 
563,867.14 
 
3,937,598.21 
 
677,605.86 $ 6,452,762.27 
 
Total Liabilities and Fund Equity 
 
$ 61062?82.84 $ 111481673.52 $ 711901501.27 
 
The notes to the general purpose financial statements are an integral part of this statement. 
 
-2- 
 
 DEBT SERVICE 
FUND 
 
FIDUCIARY FUNDTYPE AGENCY FUND 
 
ACCOUNT GROUP GENERAL 
LONG-TERM DEBT 
 
TOTALS ~Memorandum On~ JUNE 301 1995 JUNE 3011994 
 
s 125,480.72 S 
 
5,009.00 
 
s 2,042,634.32 $ 3,769,223.73 
 
3,663,999.25 
 
14,641,692.96 15,5TT,955.52 
 
247,339.61 
 
1,600,742.21 
 
1,542,n1.sa 
 
44,978.00 
 
42,728.00 
 
63,912.71 49,826.01 
 
55,038.59 44,971.23 
 
$ 
 
4,036,819.58 
 
4,036,819.58 
 
3,243,217.51 
 
$ 410361819.58 $ 
 
45,618, 180.42 61226.53 
 
45,618,180.42 6 1226.53 
 
48,201,782.49 2621661.03 
 
51009.00 $ 4916611226.53 $ 6811051012.74 $ 72?401349.68 
 
$ 
 
78,088.56 $ 
 
97,244.39 
 
354,253.24 
 
351,335.66 
 
89,966.15 
 
32,348.26 
 
340,655.00 
 
1,106,687.88 
 
397,084.00 
 
975,254.79 
 
714.24 
 
$ 
 
5,009.00 
 
5,009.00 
 
$ 
 
6,226.53 
 
6,226.53 
 
262,661.03 
 
49.655,000.00 4916551000.00 5114451000.00 
 
$ 
 
51009.oo s 4916611226.53 $ 5019261282.48 $ 5412711246.25 
 
$ 4,036,819.58 
$ 4,036,819.58 0.00 $ 
$ 41036,819.58 $ $ 410361819.58 $ 
 
$ 4,036,819.58 $ 3,243,217.51 
 
106,349.85 
 
106,349.85 
 
63,912.71 49,826.01 2, 140,652.02 3741512.04 
 
55,038.59 44,971.23 6,721,719.98 11168,634.90 
 
$ 6,772,072.21 $ 11,339,932.06 
 
0.00 
 
10,406,658.05 
 
71129,171.37 
 
0.00 
 
$ 171178.730.26 $ 18A691103.43 
 
5009.00 $ 4916611226.53 $ 681105m2.14 s 72:7401349.68 
 
-3 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
COMBINED STATEMENT OF RE\/ENUES. EXPENDITURES AND CHANGES IN FUND BALANCES 
ALL GOVERNMENTAL FUND TYPES 
YEAR ENDED JUNE 30 1995 
 
EXHIBIT "B" 
 
REVENUES 
State Funds Federal Funds Local and Other Funds 
Total Revenues 
EXPENDITURES 
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services 
Food Services Operation 
Community Service Operations Other Operations of Non-Instructional 
Services Capital Outlay Debt Service 
Principal and Interest Paying Agent Fees 
Total Expenditures 
Excess of Revenues over (under) Expenditures 
OTHER FINANCING SOURCES (YSES} 
Operating Transfers In Operating Transfers Out 
Total Other Financing Sources (Uses) 
Excess or Revenues and Other Financing 
Sources over (under) Expenditures and Other Financing Uses 
FUND BALANCE JULY 1 
Food Inventory - Net Change in Period 
Donated Commodities Purchased Food 
 
GENERAL FUND 
 
SPECIAL REVENUE 
FUND 
 
CAPITAL PROJECTS 
FUND 
 
DEBT SERVICE 
FUND 
 
TOTALS ~morandum On!):} 
YEAR ENDED JUNE 301 1995 JUNE 30, 1994 
 
$ 32,972,744.68 $ 1,707,155.08 $ 228,738.81 3,654,702.39 
22,946,615.02 1,375,649.70 
 
3,429,097.33 
 
$ 
 
301,328.25 $ 5,423,809.72 
 
38,108,997.09 $ 3,883,441.20 
30,047,402.69 
 
30,766,305.47 4,145,732.29 
25,250,087.64 
 
$ 56,148,098.51 $ 6,737,507.17 $ 3,730,425.58 $ 5,423,809.72 $ 72,039,840.98 $ 60,162,125.40 
 
$ 34,030,052.76 $ 2,618,644.65 
 
$ 36,648,697.41 $ 33,031,142.66 
 
1,955,565.87 
 
253,763.46 
 
2,209,329.33 
 
1,517,339.31 
 
921,095.87 1,442,004.26 
359,421.17 3,286,520.36 
359,042.22 
 
112,356.74 57,001.45 
126,488.55 
697.71 
 
1,033,452.61 1,499,005.71 
485,909.72 3,286,520.36 
359,739.93 
 
875,436.84 1,213,426.92 
633,956.74 2,842,517.60 
334,588.28 
 
4,639,372.60 2,933,573.02 
874,218.68 
333,705.60 
 
7,408.48 $ 115,275.13 
73,830.30 3,620,079.11 
 
576,023.76 
 
5,222,804.84 3,048,848.15 
874,218.68 73,830.30 
3,620,079.11 333,705.60 
 
4,094,995.74 2,653,110.23 
563,712.85 872.75 
2,962,696.60 
 
454,091.43 637,312.09 
 
8,669,755.63 
 
454,091.43 9,307,067.72 
 
696,325.53 16,508,707.58 
 
256,434.50 
 
$ 4,626,371.25 3,836.40 
 
4,882,805.75 3,836.40 
 
3,284,747.59 3,891.56 
 
$ 52,482,410.43 $ 6,985,545.58 $ 9,245,779.39 $ 4,630,207.65 $ 73,343,943.05 $ 71,217,468.78 
 
$ 3,665,688.08 $ -248,038.41 $ -5.515,353.81 $ 793,602.07 $ -1.304,102.07 $ -11,055,343.38 
 
$ $ -2,513,180.31 
 
13,180.31 $ 2,500,000.00 
 
$ -2,513,180.31 $ 13,180.31 $ 2,500,000.00 
 
$ 2,513,180.31 $ -2,513,180.31 
 
775,751.07 -775,751.07 
 
$ 
 
0.00 $ 
 
0.00 
 
$ 1,152,507.77 $ -234,858.10 $ -3,015,353.81 $ 793,602.07 $ -1,304,102.07 $ -11,055,343.38 
 
4,859,034.78 
 
898,735.06 
 
9,468,116.08 3,243,217.51 
 
18,469,103.43 
 
29,529,550.09 
 
8,874.12 4,854.78 
 
8,874.12 4,854.78 
 
-6,771.72 1,668.44 
 
FUND BALANCE JUNE 30 
 
$ 6,011,542.55 $ 677,605.86 $ 6,452,762.27 $ 4,036,819.58 $ 17,178,730.26 $ 18,469,103.43 
 
The notes to the general purpose financial statements are an integral part of this statement. -4- 
 
 COWETA COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 
BUDGET AND ACTUAL - (NON-GAAP BASIS) GENERAL AND SPECIAL REVENUE FUNDS 
YEAR ENDED JUNE 30, 1995 
 
EXHIBITc 
 
GENERAL FUND 
 
ACTUAL 
 
(BUDGET 
 
BUDGET 
 
BASIS} 
 
REVENUES 
 
State Funds Federal Funds Local and Other Funds 
 
$ 33,422,237.00 $ 32,972,744.68 
 
167,376.00 
 
228,738.81 
 
22,013,587.00 22,946,615.02 
 
Total Revenues 
 
$ 55,603,200.00 $ 56,148,098.51 
 
EXPENDITURES 
 
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations Other Operations of Non-Instructional Services 
Capital Outlay Debt Service 
 
$ 35,733,155.00 $ 34,030,052.76 
 
1,812,207.00 1, 108,295.00 1,573,610.00 
492,890.00 3,571,576.00 
452,439.00 5,085,894.00 2,858,630.00 
743,992.00 500.00 900.00 
250,900.00 226,712.00 n2,soo.oo 
 
1,955,565.87 921,095.87 
1,442,004.26 359,421.17 
3,286,520.36 359,042.22 
4,639,372.60 2,933,573.02 
874,218.68 
333,705.60 454,091.43 637,312.09 256,434.50 
 
Total Expenditures 
 
$ 54,684,200.00 $ 52,482,410.43 
 
Excess of Revenues over (under) Expenditures 
 
$ 919,000.00 $ 3,665,688.08 
 
OTHER FINANCING SOURCES (USES) 
 
Other Sources Other Uses 
 
$ -2,719,000.00 $ -2,513,180.31 
 
Total Other Financing Sources (Uses) 
 
$ -2,719,000.00 $ -2,513,180.31 
 
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -1,800,000.00 $ 1,152,501.n 
 
FUND BALANCE JULY 1, 1994 
 
3,300,000.00 
 
4,859,034.78 
 
SPECIAL REVENUE FUND 
 
ACTUAL 
 
(BUDGET 
 
BUDGET 
 
BASIS} 
 
$ 245,250.00 $ 1,707,155.08 3,798,264.00 3,654,702.39 1,490,250.00 1,375,649.70 
$ 51533,764.00 $ 6,737,507.17 
 
$ 1,754,205.00 $ 2,618,644.65 
 
183,688.00 102,450.00 
114,781.00 
 
253,763.46 112,356.74 57,001.45 126,488.55 
 
47,341.00 
 
697.71 7,408.48 115,275.13 
 
35,299.00 3,364,396.00 
 
73,830.30 3,620,079.11 
 
$ 5,602,160.00 $ 6,985,545.58 $ -68,396.00 $ -248,038.41 
 
$ 44,000.00 $ 13,180.31 
 
$ 44,000.00 $ 13,180.31 
 
$ -24,396.00 $ -234,858.10 
 
865,000.00 
 
798,725.24 
 
FUND BALANCE JUNE 30, 1995 
 
$ 1,500,000.00 $ 6,011,542.55 
 
$ 840,604.00 $ 563,867.14 
 
The notes to the general purpose financial statements are an integral part of this statement. -5 - 
 
  COWETA COUNTY BOARD OF EDUCATION 
 
EXIIlBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 1: SUM:MARY OF SIGNIFICANT ACCOUNTING POLICIES 
The Coweta County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted 
accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) 
is the accepted standard-setting body for establishing governmental accounting and financial reporting standards. 
The more significant ofthe Board's accounting policies are described below. 
REPORTING ENTITY 
In evaluating how to define the government unit for financial reporting purposes, management has considered the criteria set forth in GASB Codification of Governmental Accounting and Financial Reporting Standards, Section 2100, "Defining the Financial Reporting Entity". The primary government consists of all the organizations that compose the legal entity ofthe Coweta County Board ofEducation. 
Based upon the application ofthe above criteria, the Coweta 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 Coweta 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, 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. 
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. 
- 7- 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIIlBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATE1\.1ENTS 
 
JUNE 30, 1995 
 
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. 
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows: 
GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include: 
GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education. 
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities. 
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities. 
DEBT SERVICE FUND - the fund used to account for the accumulation of resources for, and the payment of, general long-term principal, interest and paying agent fees. 
FIDUCIARY FUND TYPE - the agency 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: 
AGENCY FUND - the fund used to account for assets held for other funds, governments, or individuals. 
ACCOUNT GROUP 
GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and capital lease obligations. 
- 8- 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 1: SillvfMARY OF SIGNIFICANT ACCOUNTING POLICIES 
BASIS OF ACCOUNTING 
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental 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. 
Agency funds are purely custodial in nature and do not involve measurement of results of operations. 
Governmental 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 of the 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. 
Expenditures are generally recognized when the related fund liability is incurred. 
A departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1995, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1994 and ending in early June 1995. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1995, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1995, had not.been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1995. Also, the State's portion of the compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were recorded in the year ended June 30, 1995. Generally accepted accounting principles require that revenues be recorded when available and measurable and that expenditures be recorded when incurred, rather than when funds are received or disbursed. 
- 9- 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
 
BUDGET 
 
The Coweta County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than 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 ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department 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. 
 
The Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to actual revenues, expenditures and fund balance as reflected on Exhibit "B" of this report: 
 
Excess ofRevenues and Other Sources of Financial Resources over (under) Expenditures and Other Financing Uses 
Fund Balance July 1, 1994 
Adjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods 
Fund Balance June 30, 1995 (Budget Basis) 
 
Special Revenue 
Fund 
$ -234,858.10 898,735.06 
-55,038.59 -44,971.23 
$ 563.867 14 
 
- 10 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIIlBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
CASH AND CASH EQUIVALENTS 
COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (including N.O.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates of deposit is limited to financial institutions located within this State. 
INVESTMENTS 
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following: 
(I) Obligations issued by the State of Georgia or by other states, 
(2) Obligations issued by the United States government, 
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency, 
(4) Obligations of any corporation of the United States government, 
(5) Prime banker's acceptances, 
(6) The Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services, 
(7) Repurchase agreements, and 
(8) Obligations of other political subdivisions of the State of Georgia. 
RECEIVABLES 
Receivables consist ofgrant reimbursements due from Federal, State or other granters 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. 
 
- 11 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIIlBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
 
PROPERTY TAXES 
 
The Coweta County Board of Commissioners fixed the property tax levy for the 1994 tax year (calendar year) on September 21, 1994 (levy date). Taxes were due on December 7, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70. 103. The Coweta 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. 
 
Tax millage rates levied for the 1994 tax year (calendar year) for the Coweta County Board of Education were as follows (a mill equals $1 per thousand dollars of assessed value): 
 
School Operations School Bonds 
 
17.50 mills 4.00 mills 
 
21.50 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. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased 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, 1995, are recorded as prepaid items. 
 
CAPITAL LEASES 
 
It is the policy of the Board to record the balance due resulting from capital lease agreements in the General Long-Term Debt Account Group for the amount due at fiscal year end, including interest. This presentation differs from generally accepted accounting principles in that the future obligations relating to assets acquired through capital lease agreements should be recorded in the General Long-Term Debt Account Group at the net present value of the future minimum lease payments. The effect of this deviation is deemed to be immaterial to the fair presentation of the general purpose financial statements. 
 
- 12 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIIlBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 
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. 
GENERAL OBLIGATION BONDS 
The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. 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 initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures .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 or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Certain reclassifications have been made to the comparative data to conform to the current year classifications. 
 
- 13 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIDBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS 
 
JUNE 30, 1995 
 
Note 2: DEPOSITS AND INVEST:MENTS 
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate ofthe face value of such surety bond and the market value ofsecurities shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. 
Acceptable security for deposits consists of any one of or any combination of the following: 
( 1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia, 
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation, 
(3) Bonds, bills, notes, certificates ofindebtedness 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 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, 1995, the bank balances were $10,404,957.92. 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. 
- 14 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 2: DEPOSITS AND INVESTMENTS 
 
Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. 
Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.) 
 
The Board's deposits are classified by risk category at June 30, 1995, as follows: 
 
Risk Category 
 
Bank Balance 
 
1 
 
$ 545,847.60 
 
2 
 
2,934,995.08 
 
3 
 
6,924,115.24 
 
Total 
 
$10 404,957 92 
 
CATEGORIZATION OF INVESTMENTS At June 30, 1995, the carrying amount of the Board's total investments was $14,641,692.96 and consisted entirely of funds in the Local Government Investment Pool administered by the State of Georgia, Office of Treasury and Fiscal Services which are not required to be categorized since the Board did not own any specific identifiable securities in the pool. The investment policy ofthe State of Georgia, Office of Treasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments. 
 
Note 3: NON-MONETARY TRANSACTIONS 
 
The Board receives food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. 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 illnesses or injuries to employees; natural disaster; and unemployment compensation. 
 
The Board has obtained commercial insurance for risk of loss associated with torts, assets and errors or omissions. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years. 
 
- 15 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 4: RISK MANAGEMENT 
 
The Board has elected to self-insure for all losses related to natural disasters. For the 1995 fiscal year, a natural disaster (flood damage) loss in the amount of$55,036.00 occurred. Federal Emergency Management Agency (FEMA) and state matching funds in the amount of$56,687.00 have been awarded to the Board. The Board did not experience any losses related to natural disasters for the two years preceding fiscal year 1995. 
 
The Board has established a limited risk management program for workers' compensation claims. The Board accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. 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: 
 
Beginning of Year Liability 
 
Claims and Changes in Estimates 
 
Claims Paid 
 
EndofYear Liability 
 
1994 1995 
 
$ 
 
0.00 $ 167,323.17 $ 167,323.17 $ 
 
0.00 
 
$ 
 
0.00 $ 127,337.86 $ 127,337.86 $ 
 
0.00 
 
The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the General Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount of that loss can be reasonably estimated. 
 
Changes in the unemployment compensation claims liability during the last two fiscal years are as follows: 
 
Beginning ofYear Liability 
 
Claims and Changes in Estimates 
 
Claims Paid 
 
EndofYear Liability 
 
1994 1995 
 
$ 
 
0.00 $ 52,399.29 $ 52,399.29 $ 
 
0.00 
 
$ 
 
0.00 $ 11,865.06 $ 11,865.06 $ 
 
0.00 
 
Note 5: GENERAL LONG-TERM DEBT 
 
CAPITAL LEASES The Coweta County Board of Education has entered into various lease agreements as lessee for office equipment. 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. 
 
- 16 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS 
 
JUNE 30, 1995 
 
Note 5: GENERAL LONG-TERM DEBT 
 
The changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: 
 
Capital Leases 
 
General Obligation 
Bonds 
 
Total 
 
Balance July 1, 1994 
 
$ 237,754.91 $51,445,000.00 $51,682,754.91 
 
Retroactive Restatement ofPrior Year Balances 
 
24,906.12 
 
24,906.12 
 
Balance July 1, 1994 Restated 
 
$ 262,661.03 $51,445,000.00 $51,707,661.03 
 
Deductions 
 
256,434.50 1,790,000.00 2,046,434.50 
 
Balance June 30, 1995 
 
$ 6,226,53 $49,655 000 00 $49,661,226,53 
 
At June 30, 1995, 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 
 
1996 1997 1998 1999 2000 2001 and thereafter 
 
$ 6,226.53 $ 4,534,647.50 $ 4,540,874.03 4,587,903.75 4,587,903.75 4,591,141.25 4,591,141.25 4,611,033.75 4,611,033.75 4,486,618.75 4,486,618.75 57,031,306.25 57,031,306.25 
 
Total Principal and Interest 
 
$ 6,226 53 $79 842 651 25 $79,848.877,78 
 
Note 6: PRIOR YEAR DEFEASE:MENT 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. At June 30, 1995, $23,010,000.00 of bonds defeased are outstanding and are considered defeased. 
 
- 17 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIIlBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 7: SIGNIFICANT COMMITMENTS 
 
The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as of June 30, 1995, together with funding available: 
 
Project 
 
Unearned Executed Contracts 
 
Funding Available From State 
 
94-638-028 1992 Bond Issue 
 
$ 2,283,919.40 $2,005,027.16 . 1 000.00 
 
$2,284.919 40 $2,005,027 16 
 
The amounts described in this note are not reflected in the general purpose financial statements. 
 
Note 8: CONTINGENT LIABILITIES 
 
Amounts received or receivable principally from the Federal government are subject to audit and review by grantor agencies. This could result in requests for reimbursement to the grantor agency for any expenditures which are disallowed under grant terms. The Board believes that such disallowances, if any, will be immaterial to its overall financial position. 
 
The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the general purpose financial statements. 
 
Note 9: ACCUMULATED EMPLOYEES' LEAVE 
 
The Board's administrative staff and certain other full-time employees can earn up to a maximum of one and two-thirds days per month of annual leave. All unused annual leave may be accumulated and is paid to employees at their current rate of pay upon retirement or termination of employment. See Note 1 Compensated Absences 
 
Note 10: 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). 
 
 
 
- 18 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 10: RETIREMENT PLANS 
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 ofage, or after IO years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. 
Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. 
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting 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, 1995, was $32,579,067.23; total payroll was $38,354,108.59. 
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. For fiscal year 1995 that rate for employer contributions was 11.81%. The interest rate assumption (rate of return on investments) was 7.50%. 
Total contributions made during fiscal year 1995 amounted to $5,476,541.51, ofwhich $3,847,587.89 was made by the Board and $1,628,953.62 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 
 
- 19 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXIDBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 
 
JUNE 30, 1995 
 
Note 1O: RETIREMENT PLANS 
 
salary increases. A standardized measure ofthe pension benefit obligation was adopted by the GASB to enable readers of PERS financial statements to assess that PERS funding status on a going-concern basis, assess progress made in accumulating sufficient assets to pay benefits when due, and make comparisons among other PERS and among other employers. 
 
Total unfunded pension benefit obligation ofTRS as of June 30, 1994, was as follows: 
 
Total pension benefit obligation 
 
$15,313,743,000.00 
 
Net assets available for benefits, at cost 
 
14,254,785,000.00 
 
Unfunded pension benefit obligation 
 
$ 1,058,958,000.00 
 
The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers. 
 
Total contributions from all employers to TRS for fiscal year ended June 30, I995 were $565, 117,811.00. The Board's contribution for the year ended June 30, 1995 of $3,847,587.89 was actuarially determined and represented .6808% of total contributions made by all participating employers. 
 
Ten year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due. 
 
PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS) 
 
PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute. 
 
PSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment 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. 
 
- 20 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
 
EXHIBIT "D" 
 
NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:rvfENTS 
 
JUNE 30, 1995 
 
Note I 0: RETIRE:rvfENT PLANS 
Retirement provisions include death and disability benefits. Disability benefits are the same as if the employee had retired at age 65 as long as the employee has 15 or more years of creditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. If there are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. 
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest. 
There were 464 employees covered under PSERS for the year ended June 30, 1995. 
PSERS CONTRIBUTIONS REQUIRED AND MADE Covered employees are required by State statute to contribute $4.00 a month for the nine month school year. Unlike TRS, the Board makes no contribution to PSERS. The State of Georgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board of Trustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $14,604.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00. 
Note 11: SURETY BONDS 
The School Superintendent, Mr. Richard Brooks, is bonded in the amount of $20,000.00 with the St. Paul Fire and Marine Insurance Company, Saint Paul, Minnesota, their Bond No. 400JIG8713, on which premium was paid through June 1, 1996. 
 
- 21 - 
 
 COWETA COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30. 1995 
 
ASSETS 
Cash and Cash Equivalents 
Investments 
Accounts Receivable 
Inventories Food Donated Commodities Purchased Food 
Total Assets 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue 
Total Liabilities 
FUND EQUITY 
Fund Balances Reserved For Inventories Food Donated Commodities Purchased Food 
Unreserved Undesignated 
Total Fund Equity 
 
ELEMENTARY AND 
 
SCHOOL FOOD 
SERVICES FUND 
 
LOTTERY PROGRAMS 
 
CHAPTER 1 
 
EDUCATION OF 
 
STATE 
 
DEPRIVED 
 
PROGRAM 
 
CHILDREN 
 
IMPROVEMENT 
 
$ 503,524.28 
 
$ 
 
38,200.29 $ 
 
363.11 
 
226,796.61 
 
14,127.36 $ 375,826.37 
 
129,967.00 
 
63,912.71 49,826.01 
 
$ 858,186.97 $ 375,826.37 $ 
 
------ 168,167.29 $ 
 
363.11 
 
$ 309,300.10 
 
$ 11,457.57 
 
$ 
 
169,123.54 
 
66,526.27 
 
30,871.35 121,652.12 
15,643.82 $ 
 
$ 180,581.11 $ 375,826.37 $ 
 
168,167.29 $ 
 
363.11 363.11 
 
$ 63,912.71 49,826.01 
 
$ 113,738.72 
 
563,867.14 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 
 
$ STT,605.86 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 
 
Total Liabilities and Fund Equity 
 
$ 858,186.97 $ 375,826.37 $ 
 
168,167.29 $ _ _ _363....,...,.1.1.. 
 
See notes to the general purpose financial statements. 
 
- 22- 
 
 EXHIBITE 
 
SECONDARY EDUCATION ACT 
 
TITLE II 
 
EISENHOWER 
 
CHAPTER2 
 
MATHEMATICS 
 
BLOCK GRANT - AND SCIENCE 
 
FLOW THROUGH EDUCATION 
 
INDIVIDUALS WITH 
 
DISABILITIES EDUCATION ACT 
 
TITLE VI, B 
 
FLOW 
 
PRESCHOOL 
 
THROUGH 
 
PROGRAM 
 
JOB TRAINING PARTNERSHIP 
ACT 
 
TOTALS JUNE 30, 1995 JUNE 30, 1994 
 
$ 
 
0.00 
 
$ 542,087.68 $ 624,490.57 
 
226,796.61 
 
313,966.96 
 
$ 
 
3,701.73 $ 118,094.16 $ 
 
20,714.97 $ 
 
6,437.00 
 
668,868.59 
 
680,605.90 
 
s_ _ _ _ _o_.oo_s 
 
3,701.73 $ 118,094.16 $ 
 
20,714.97 $ 
 
63,912.71 49,826.01 
 
55,038.59 44,971.23 
 
6,437.00 $ 1;551,491.60 $ 1,719,073.25 
 
$ 
 
2,002.33 $ 
 
72,527.01 $ 
 
12,551.64 $ 
 
6,437.00 $ 402,818.08 $ 383,293.16 
 
10,161.31 
 
1,857.95 
 
54,348.18 
 
68,846.87 
 
34,458.09 
 
6,305.38 
 
331,539.13 
 
335,135.66 
 
1,699.40 
 
947.75 
 
85,180.35 
 
32,348.26 
 
714.24 
 
$ 
 
3,701.73 $ 118,094.16 $ 
 
20,714.97 $ 
 
6,437.00 $ 873,885.74 $ 
 
820,338.19 
 
$ 
 
63,912.71 $ 
 
55,038.59 
 
49,826.01 
 
44,971.23 
 
$ 
 
113,738.72 $ 
 
100,009.82 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 
 
563,867.14 
 
798,725.24 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 677,605.86 $ 
 
898,735.06 
 
$ 
 
0.00 $ 
 
3,701.73 $ 118,094.16 $ 
 
20,714.97 $ 
 
6,437.00 $ 1,551,491.60 $ 1,719,073.25 
 
- 23- 
 
 COWETA COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 
SPECIAL REVENUE FUND YEAR ENDED JUNE 30. 1995 
 
REVENUES 
State Funds Federal Funds Local and Other Funds 
Total Revenues 
EXPENDITURES 
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Other Support Services Food Services Operation Other Operations of Non-Instructional Services 
Total Expenditures 
Excess of Revenues over (under) Expenditures 
OTHER FINANCING SOURCES 
Operating Transfers In 
Excess of Revenues and Other Financing Sources over (under) Expenditures 
FUND BALANCE JULY 1 
Food Inventory - Net Change in Period Donated Commodities Purchased Food 
Residual Equity Transfer 
FUND BALANCE JUNE 30 
 
SCHOOL FOOD 
SERVICES FUND 
 
ELEMENTARY AND 
 
LOTTERY PROGRAMS 
 
CHAPTER 1 
 
EDUCATION OF 
 
STATE 
 
DEPRIVED 
 
PROGRAM 
 
CHILDREN 
 
IMPROVEMENT 
 
$ 234,346.00 $ 1,472,809.08 
 
1,ns,225.31 
 
$ 
 
1,375,649.70 
 
$ 3,385,221.01 $ 1,472,809.08 $ 
 
1,143,139.18 $ 1,143,139.18 $ 
 
436.89 436.89 
 
$ 1,249,314.93 $ 
113,112.76 5,841.57 
 
$ 3,620,079.11 
 
697.71 7,408.48 108,560.83 1,053.11 
 
956,558.27 $ 480.00 610.00 
112,713.72 
72,7n.19 
 
$ 3,620,079.11 $ 1,485,989.39 $ $ -234,858.10 $ -13,180.31 $ 
 
1,143,139.18 $ 0.00 $ 
 
13,180.31 
 
$ -234,858.10 $ 898,735.06 
 
0.00 $ 0.00 
 
8,874.12 4,854.78 
 
0.00 $ 0.00 
 
436.89 
436.89 0.00 0.00 0.00 
 
s sn.sos.ss s 
 
0.00 $ 
 
------ 0.00 $ 
 
0.00 
 
See notes to the general purpose financial statements. 
 
-24- 
 
 EXHIBITP 
 
SECONDARY EDUCATION ACT 
 
TITLE II - 
 
EISENHOWER 
 
CHAPTER2 
 
MATHEMATICS 
 
BLOCK GRANT - AND SCIENCE 
 
FLOW THROUGH EDUCATION 
 
INDIVIDUALS WITH 
 
DISABILITIES EDUCATION ACT 
 
TITLE VI, B 
 
FLOW 
 
PRESCHOOL 
 
THROUGH 
 
PROGRAM 
 
JOB TRAINING PARTNERSHIP 
ACT 
 
TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994 
 
$ 1,707,155.08 $ 766,372.33 
 
$ 
 
66,975.00 $ 
 
47,170.11 $ 492,735.80 $ 116,635.97 $ 
 
12,384.13 
 
3,654,702.39 
 
3,988,903.51 
 
1,375,649.70 
 
1,515,951.43 
 
$ 
 
66,975.00 $ 
 
47,170.11 $ 492,735.80 $ 116,635.97 $ 
 
12,384.13 $ 6,737,507.17 $ 6,271,227.27 
 
$ 
 
9,814.90 $ 
 
6,914.25 $ 278,018.44 $ 105,202.84 $ 
 
12,384.13 $ 2,618,644.65 $ 2,535,079.70 
 
57,001.45 158.65 
 
39,329.43 926.43 
 
130,923.57 66,575.74 
10,503.75 
 
6,714.30 
 
9,247.13 2,186.00 
 
253,763.46 112,356.74 
57,001.45 126,488.55 
697.71 7,408.48 115,275.13 73,830.30 3,620,079.11 
 
158,942.88 57,287.32 
136,472.82 1,211.98 210.55 301.40 4,500.00 
287.22 2,962,696.60 
 
234,942.36 
 
$ 
 
66,975.00 $ 
 
47,170.11 $ 492,735.80 $ 116,635.97 $ 
 
12,384.13 $ 6,985,545.58 $ 6,091,932.83 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ -248,038.41 $ 179,294.44 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 
 
0.00 
 
$ _ _ _ _ _0_.0_0$ _ _ _ _0._00_$ 
 
0.00 $ 0.00 
 
0.00 $ 0.00 
 
13,180.31 
 
1,894.07 
 
0.00 $ 0.00 
 
-234,858.10 $ 898,735.06 
 
181,188.51 819,552.84 
 
8,874.12 4,854.78 
 
-6,771.72 1,668.44 -96,903.01 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
-===----==- - - - - - 
 
677,605.86 $ 
 
898,735.06 
 
- 25- 
 
 COWETA COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30, 1995 
 
ASSETS Cash and Cash Equivalents Investments Accounts Receivable 
Total Assets 
 
REGULAR 
 
1992 BOND ISSUE 
FUND 
 
GEORGIA STATE FINANCING AND 
INVESTMENT COMMISSION 
PROJECT 94-638-028 
 
PROJECT 96/95S-638-024 
 
$ 
 
750,973.04 $ 
 
75,647.00 
 
$ 4,110,448.38 $ 2,334,130.54 
 
$ 4,110,448.38 $ 2,334,130.54 $ 
 
------ 750,973.04 $ 
 
75,647.00 
 
LIABILITIES AND FUND EQUITY 
LIABILITIES 
Cash Overdraft 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 
 
$ 172,850.17 $ $ 172,850.17 $ 
 
21,822.52 $ 
171,656.00 
193,478.52 $ 
 
$ 2,140,652.02 $ 
 
$ 2,140,652.02 $ 
 
$ 3,937,598.21 
 
0.00 
 
$ 3,937,598.21 $ 2,140,652.02 $ 
 
340,655.00 225,428.00 566,083.00 
184,890.04 $ 184,890.04 $ 
0.00 184,890.04 $ 
 
75,647.00 75,647.00 
0.00 75 647.00 
 
Total Liabilities and Fund Equity 
 
$ 4,110,448.38 $ 2,334,130.54 $ 
 
------ 750,973.04 $ 
 
75,647.00 
 
See notes to the general purpose financial statements. 
 
- 26 - 
 
 EXHIBIT"G" 
 
LOTTERY PROJECTS 
 
PROJECT 
 
PROJECT 
 
PROJECT 
 
96/95S-638-025 96/95S-638-026 96/95S-638-027 
 
PROJECT 96/95S-638-028 
 
TOTALS JUNE 30, 1995 JUNE 301 1994 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
940,595.04 $ 2,458,496.06 
 
6,444,578.92 
 
9,648,811.83 
 
324,610.51 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 7,385,173.96 $ 12,431,918.40 
 
$ 
 
194,672.69 $ 
 
881,859.65 
 
340,655.00 
 
1,106,687.88 
 
397,084.00 
 
975,254.79 
 
$ 
 
932 411.69 $ 2,963,802.32 
 
$ 
 
42,065.00 $ 
 
$ 
 
42,065.00 $ 
 
0.00 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 23,970.00 $ 
0.00 23,970.00 $ 
 
23,970.00 $ 23,970.00 $ 
0.00 23,970.00 $ 
 
$ 23,970.00 
 
2, 140,652.02 $ 374,512.04 
 
6,721,719.98 1,168,634.90 
 
23,970.00 $ 2,515,164.06 $ 7,890,354.88 
 
0.00 
 
3,937,598.21 
 
1,577,761.20 
 
23,970.00 $ 6,452?62.27 $ 9,468,116.08 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 7,385,173.96 $ 12,431,918.40 
 
- 27 - 
 
 COWETA COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES. EXPENDITURES AND CHANGES IN FUND BALANCES 
CAPITAL PROJECTS FUND YEAR ENDED JUNE 30. 1995 
 
REGULAR 
 
1992 BONO ISSUE 
FUND 
 
GEORGIA STATE FINANCING AND 
INVESTMENT COMMISSION 
PROJECT 94-638--028 
 
PROJECT 96/958-638-024 
 
REVENUES 
 
State Funds Local and Other Funds 
 
$ 3,429,097.33 $ 
 
0.00 
 
$ 
 
75,724.01 $ 
 
225,604.24 
 
Total Revenues 
 
$ 
 
75,724.01 $ 
 
225,604.24 $ 
 
3,429,097.33 $ 
 
0.00 
 
EXPENDITURES 
 
Current 
 
Maintenance and Operation of Plant 
 
Salaries 
 
$ 
 
14,353.76 
 
Employee Benefits 
 
836.64 
 
Professional and Technical Services 
 
193,969.90 
 
Water, Sewer, and Cleaning Services 
 
158,819.87 
 
Repair and Maintenance Services 
 
47,130.52 
 
Other Purchased Services 
 
1,250.00 
 
Other Expenditures 
 
159,663.07 
 
Capital Outlay 
 
Professional and Technical Services 
 
$ 
 
26,265.00 
 
$ 
 
0.00 
 
land and land Improvements 
 
Building and Building Improvements 
 
3,096,565.19 $ 
 
4,537,345.02 
 
Equipment 
 
1,001,356.69 
 
8,223.73 
 
Total Expenditures 
 
$ 
 
26,265.00 $ 4,673,945.64 $ 
 
4,545,568.75 $ 
 
0.00 
 
Excess of Revenues over (under) Expenditures 
 
$ 49,459.01 $ -4,448,341.40 $ -1,116,471.42 $ 
 
0.00 
 
OTHER FINANCING SOURCES (USES) 
 
Operating Transfers In Operating Transfers Out 
 
$ 2,500,000.00 -189,622.00 $ 
 
$ -132,726.56 
 
132,726.56 $ 
 
75,647.00 
 
Total Other Financing Sources (Uses) 
 
$ 2,310,378.00 $ -132,726.56 $ 
 
132,726.56 $ 
 
75,647.00 
 
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ 2,359,837.01 $ -4,581,067.96 $ 
 
-983,744.86 $ 
 
75,647.00 
 
FUND BALANCE JULY 1 
 
1,577,761.20 
 
6,721,719.98 
 
1,168,634.90 
 
0.00 
 
FUND BALANCE JUNE 30 
 
$ 3,937,598.21 $ 2,140,652.02 $ 
 
184,890.04 s ___1_s_,_64_1_.oo_ 
 
See notes to the general purpose financial statements. 
 
- 28- 
 
 LOTTERY PROJECTS 
 
PROJECT 
 
PROJECT 
 
PROJECT 
 
96/955-638-025 96/955-638-026 96/955-638-027 
 
PROJECT 96/955-638-028 
 
TOTALS 
 
YEAR ENDED 
 
JUNE 30, 1995 
 
JUNE 301 1994 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 3,429,097.33 $ 301,328.25 
 
324,610.51 580,n3.67 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ _ _ _ _ _0_.00_ $ 3,730,425.58 $ _ _ _9_0_5_,3_84_.1_8 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
$ 
 
0.00 $ 
 
0.00 $ 
 
0.00 $ 
 
$ 
 
14,353.76 
 
836.64 
 
193,969.90 
 
158,819.87 
 
47,130.52 
 
1,250.00 
 
159,663.07 
 
0.00 0.00 $ 
 
26,265.00 $ 
7,633,910.21 1,009,580.42 
s s,245,ns.39 
 
475,257.11 15,366,538.21 
467,473.99 
16,309,269.31 
 
0.00 $ -5,515,353.81 $ -15,403,885.13 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.00 $ 
 
0.00 
 
0.00 
 
0.00 
 
23,970.00 $ 23,970.00 $ 
 
2,822,348.56 $ -322,348.56 
2,500,000.00 $ 
 
en,181.so -378,924.90 
298,857.00 
 
23,970.00 $ -3,015,353.81 $ -15,105,028.13 
 
0.00 
 
9,468,116.08 
 
24,573,144.21 
 
$ 
 
42,065.00 $ 
 
23,970.00 $ 
 
23,970.oo $ _ _ _ _23_.s_1_0._oo_ $ e,4s2,1e2.21 $ 9,468,116.08 
 
-29- 
 
 COWETA COUNTY BOARD OF EDUCATION STATEMENT OF CHANGES IN ASSETS AND LIABILITIES 
FIDUCIARY FUND TYPE - AGENCY FUND 
YEAR ENDED JUNE 30, 1995 
 
EXHIBITr 
 
DEPENDENT CARE SPENDING ACCOUNTS 
ASSETS Cash and Cash Equivalents 
 
BALANCE JULY 1, 1994 
 
ADDITIONS 
 
DEDUCTIONS 
 
BALANCE 
JUNE 301 1995 
 
$ 
 
0.00 $ 
 
5,009.00 $ 
 
o.oo $ _ _ _5,..,oo_9_.o_o 
 
LIABILITIES Funds Held for Others 
 
$ 
 
0.00 $ 
 
5,009.00 $ 
 
o.oo $ _ _..,5_,o...,o..,9..o..o.. 
 
See notes to the general purpose financial statements. 
 
- 30 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 
YEAR ENDED JUNE 30. 1995 
 
FUNDING AGENCY PROGRAM/GRANT 
 
CFDA NUMBER 
 
AWARDS IN PERIOD 
 
FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) 
 
FEDERAL REVENUE IN PERIOD 
 
EXPENDITURES IN PERIOD 
 
Agriculture, U. S. Department of Through Georgia Department of Education Food and Nutrition Program Child and Adult care Food Program 1994 Contract 
1995 Contract Food Services 
School Breakfast Program 1995 Grant 
National School Lunch Program 1994 Grant 1995 Grant 
Food Distribution Program (1) 
 
10.558 
 
$ 
 
32.19 
 
10.558 $ 
 
5,625.07 
 
5,475.84 $ 
 
5,625.07 
 
(2) 
 
* 10.553 
* 10.555 * 10.555 
10.550 
 
322,067.08 
1, 184,508.85 2631024.31 
 
321,796.31 
11,310.83 1, 171,930.87 
NIA 
 
322,067.08 
 
(2) 
 
1,184,508.85 $ 3,357,054.80 (4) 
 
2631024.31 
 
2631024.31 
 
Total U.S. Department of Agriculture 
 
$ 1In5I225.31 $ 
 
Education, U. S. Department of 
 
Direct 
 
P. L. 81-874 
 
1989 Grant 1995 Grant 
 
84.041 $ 84.041 
 
560.00 $ 11,247.00 
 
Through Georgia Department of Education 
 
Elementary and Secondary Education Act 
 
Chapter 1 
 
Education of Deprived Children 
 
1993 carry-Over 
 
* 84.010 
 
1993 carry-Over (New Grant) 
 
* 84.010 
 
115,033.00 
 
1994 Regular 
 
* 84.010 
 
1994 carry-Over 
 
* 84.010 
 
15,000.00 
 
1995 Regular 
 
* 84.010 
 
1,134,410.00 
 
State Program Improvement 
 
1995 Regular 
 
84.218 
 
800.00 
 
Chapter2 
 
Block Grant - Flow Through 
 
1995 Regular 
 
84.151 
 
66,975.00 
 
Innovative Programs 
 
1994 Regular 
 
84.151 
 
Title II 
 
Eisenhower Mathematics and Science 
 
Education 
 
1994 Regular 
 
84.164 
 
1995 Regular 
 
84.164 
 
36,217.00 
 
Even Start 
 
1993 Carry-over 
 
84.213 
 
1994 Grant 
 
84.213 
 
Individuals with Disabilities Education Act 
 
Title VI, B 
 
Flow Through 
 
1994 Regular 
 
* 84.027 
 
1994 carry-Over 
 
* 84.027 
 
257,388.00 
 
1995 Regular 
 
* 84.027 
 
506,160.00 
 
Preschool Program 
 
1994 Regular 
 
84.173 
 
1994 Carry-Over 
 
84.173 
 
44,921.00 
 
1995 Regular 
 
84.173 
 
109,900.00 
 
Vocational Education - Basic Grants to States 
 
High School Program 
 
Basic Grant 
 
Sex Equity Grant 
 
1994 Grant 
 
84.048 
 
1995 Grant 
 
84.048 
 
78,024.39 
 
115101546.04 $ 1In5I225.31 $ 316201079.11 
 
560.00 $ 
 
560.00 
 
(5) 
 
11,247.00 
 
11,247.00 
 
(5) 
 
83,016.34 115,033.00 79,933.00 
15,000.00 898,783.00 
800.00 
 
115,033.00 $ 
15,000.00 1,013,106.18 
436.89 
 
115,033.00 
15,000.00 1,013,106.18 
436.89 
 
66,975.00 21,354.93 
 
66,975.00 
 
66,975.00 
 
16,055.26 30,075.00 
-103.10 159,589.69 
 
15,092.78 32,0n.33 
 
15,092.78 32,0n.33 
 
73,170.79 257,388.00 118,201.39 
10,837.44 44,921.00 51,000.00 
 
257,388.00 235,347.80 
44,921.00 71,714.97 
 
257,388.00 235,347.80 
44,921.00 71,714.97 
 
1,215.56 
 
35,965.02 
 
78,024.39 
 
(3) 
 
- 31 - 
 
 COWETA COUNTY BOARD OF EDUCATION 
SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 
YEAR ENDED JUNE 30. 1995 
 
FUNDING AGENCY 
PROGRAM/GRANT 
 
CFDA NUMBER 
 
AWARDS 
IN PERIOD 
 
FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) 
 
FEDERAL REVENUE IN PERIOD 
 
EXPENDITURES IN PERIOD 
 
Education.U.S.Departmentof 
 
Through Georgia Department of Education 
 
Vocational Education - Basic Grants to States 
 
Tech-Prep Education 
 
1995 Grant 
 
84.243 $ 111678.87 $ 
 
11 678.87 $ 111678.87 
 
{3) 
 
TotalU.S.DepartmentofEducation 
 
$ 213881314.26 $ 
 
211021697.19 $ 119681603.21 $ 118671092.95 
 
Federal Emergency Management Agency Through Office of the Governor Disaster Assistance 
 
83.516 $ 511183.40 $ 
 
511183.40 $ 511183.40 
 
(3) 
 
Labor. U.S. Department of Through Griffin Regional Educational Service Agency Job Training Partnership Act 118-94-010 Through West. Georgia Private Industry Council, Incorporated Job Training Partnership Act 
95-SYP-06 
Total U.S. Department of Labor 
 
17.250 
 
$ 
 
17.250 $ $ 
 
151828.00 151828.00 $ 
 
5.947.13 $ 
 
5.947.13 $ 
 
5,947.13 
 
51947.13 $ 
 
61437.00 121384.13 $ 
 
61437.00 121384.13 
 
OTHER FEDERAL ASSISTANCE 
Defense,U.S.Departmentof Direct Department of the Air Force R.O.T.C. Program 1994 Grant 1995 Grant Department of the Navy Marine Corps R.O.T.C. Program 1994 Grant 1995 Grant 
Total U.S. Department of Defense 
 
$ 
 
7,539.72 $ 
 
7,539.72 $ 
 
7,539.72 
 
(3) 
 
32,098.31 
 
24,068.57 
 
32,098.31 
 
(3) 
 
10,162.04 261245.08 
 
10,162.04 
 
10,162.04 
 
(3) 
 
151572.40 
 
26,245.08 
 
(3) 
 
$ 761045.15 $ 
 
571342.73 $ 76,045.15 
 
Total Federal Financial Assistance 
 
$ 4,306,596.12 $ 
 
3:721:716.49 $ 3,883:441.20 $ 5,499,556.19 
 
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 flSCal year. 
(2) Expenditures for these Programs were not maintained separately and are included in the 1995 
National School Lunch Program. 
(3) Expenditures on this program were not maintained by fund source. 
(4) Expenditures for this program include State, and/or Local and Other Funds. Expenditures are not maintained by fund source. 
(5) Funds earrled on this program do not require reporting of expenditures. 
 
See notes to the general purpose financial statements. 
 
- 32 - 
 
 COWETA COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995 
 
SCHEDULE "2" 
 
NONINTEREST BEARING ACCOUNTS 
Bank of Coweta, Newnan, Georgia 
NationsBank, Newnan, Georgia 
INTEREST BEARING ACCOUNTS 
Bank of Coweta, Newnan, Georgia 
N.O.W. Accounts (2.50%) 
First Union National Bank of Georgia, Newnan, Georgia 
Commercial Interest Checking (1.95%) 
NationsBank, Newnan, Georgia 
Business Investment Checking (3.80%) Corporate Checking (4.89%) 
OTHER 
Petty Cash 
 
$ 
 
5,009.00 
 
809,800.01 $ 814,809.01 
 
$ 520,316.11 
 
6,913.99 
 
125,480.72 575,094.49 
 
1,227,805.31 
 
20.00 $ 2,042,634.32 
 
See notes to the general purpose financial statements. - 33 - 
 
 COWETA COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30, 1995 
INVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (6.032%) 
 
SCHEDULE 3 $ 14,641,692.96 
 
See notes to the general purpose financial statements. - 34 - 
 
 COWETA COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995 
 
SCHEDULE 4 
 
Coweta County Tax Commissioner County Wide Bond Tax County Wide School Tax 
Defense, U. S. Department of 
Department of the Air Force - ROTC Program Department of the Navy - ROTC Program 
Education, Georgia Department of Food Services Child and Adult Care Food Program National School Lunch Program School Breakfast Program Vocational Education Federal Funds Other State Programs Next Generation Schools Lottery Programs Distant Leaming Instructional Technology Technology Installation Federal Programs Elementary and Secondary Education Act 
Chapter 1 
Education of Deprived Children Tltlell 
Eisenhower Mathematics and Science Education Individuals with Disabilities Education Act 
Title VI, B Flow Through Preschool Program 
Various Sources Banquet Fund Sales Returned Items Vendor Overpayment 
West Georgia Private Industry Council, Incorporated Job Training Partnership Act 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
DEBT 
 
GENERAL REVENUE 
 
SERVICE 
 
FUND 
 
FUND 
 
FUND 
 
TOTAL 
 
$ 591,402.92 
 
$ 247,339.61 $ 247,339.61 591,402.92 
 
8,029.74 10,672.68 
 
8,029.74 10,672.68 
 
$ 
 
149.23 
 
12,577.98 
 
270.77 
 
42,059.37 
 
26,056.47 
 
74,868.75 211,208.01 89,749.61 
 
149.23 12,577.98 
270.77 
42,059.37 
26,056.47 
74,868.75 211,208.01 89,749.61 
 
129,967.00 3,701.73 
 
118,094.16 20,714.97 
 
6,312.83 
 
1,036.90 92.48 
 
6,437.00 
 
129,967.00 3,701.73 
118,094.16 20,714.97 
1,036.90 92.48 
6,312.83 
6,437.00 
 
$ 684,534.01 $ 668,868.59 $ 247,339.61 $ 1,600,742.21 
 
See notes to the general purpose financial statements. 
 
- 35 - 
 
 COWETA COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY 
JUNE 30, 1995 
 
PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30 
1996 1997 1998 1999 2000 
2001 2002 2003 2004 2005 
2006 2007 2008 2009 2010 
2011 2012 2013 
 
TOTAL DEBT SERVICE 
 
TOTAL INTEREST 
 
TOTAL PRINCIPAL 
 
$ 4,534,647.50 $ 2,769,647.50 $ 1,765,000.00 
 
4,587,903.75 
 
2,692,903.75 
 
1,895,000.00 
 
4,591,141.25 
 
2,606,141.25 
 
1,985,000.00 
 
4,611,033.75 
 
2,511,033.75 
 
2,100,000.00 
 
4,486,618.75 
 
2,406,618.75 
 
2,080,000.00 
 
4,545,560.00 4,549,102.50 4,558,418.75 4,562,572.50 4,566,000.00 
 
2,295,560.00 2,174,102.50 2,043,418.75 1,902,572.50 1,751,000.00 
 
2,250,000.00 2,375,000.00 2,515,000.00 2,660,000.00 2,815,000.00 
 
4,567,553.75 4,576,465.00 4,551,932.50 4,555,340.00 4,585,403.75 
 
1,587,553.75 1,411,465.00 1,221,932.50 1,020,340.00 
805,403.75 
 
2,980,000.00 3, 165,000.00 3,330,000.00 3,535,000.00 3,780,000.00 
 
4,595,766.25 4,181,070.00 2,636,121.25 
 
575,766.25 331,070.00 
81,121.25 
 
4,020,000.00 3,850,000.00 2,555,000.00 
 
$ 79,842,651.25 $ 30,187,651.25 $ 49,655,000.00 
 
CHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1994 Bonds Retired During Period 
 
TOTAL 
 
1993 ISSUE 
 
$ 51,445,000.00 $ 26,245,000.00 
 
1,790,000.00 
 
805,000.00 
 
Bonds Payable at June 30, 1995 
 
$ 49,655,000.00 $ 25,440,000.00 
 
MATURITY DATES Semi-Annual Interest Payment Dates Annual Debt Retirement Date 
See notes to the general purpose financial statements. - 36 - 
 
FEB 1 -AUG 1 FEB 1 
 
 SCHEDULE "5" 
 
1993 ISSUE 
 
INTEREST 
 
PRINCIPAL 
 
1992 ISSUE 
 
INTEREST 
 
PRINCIPAL 
 
$ 1,380,105.00 $ 
 
855,000.00 $ 1,389,542.50 $ 
 
1,344,203.75 
 
960,000.00 
 
1,348,700.00 
 
1,301,135.00 
 
1,070,000.00 
 
1,305,006.25 
 
1,251,067.50 
 
1,195,000.00 
 
1,259,966.25 
 
1,192,735.00 
 
1,195,000.00 
 
1,213,883.75 
 
910,000.00 935,000.00 915,000.00 905,000.00 885,000.00 
 
1,131,885.00 1,066,542.50 
996,495.00 921,072.50 839,987.50 
 
1,260,000.00 1,325,000.00 1,400,000.00 1,480,000.00 1,565,000.00 
 
1, 163,675.00 1,107,560.00 1,046,923.75 
981,500.00 911,012.50 
 
990,000.00 1,050,000.00 1,115,000.00 1,180,000.00 1,250,000.00 
 
752,522.50 658,505.00 557,750.00 452,812.50 343,562.50 
 
1,655,000.00 1,755,000.00 1,830,000.00 1,905,000.00 2,015,000.00 
 
835,031.25 752,960.00 664,182.50 567,527.50 461,841.25 
 
1,325,000.00 1,410,000.00 1,500,000.00 1,630,000.00 1,765,000.00 
 
227,987.50 105,512.50 
 
2,135,000.00 1,840,000.00 
 
347,778.75 225,557.50 
81,121.25 
 
1,885,000.00 2,010,000.00 2,555,000.00 
 
$ 14,523,881.25 $ 25,440,000.00 $ 15,663,770.00 $ 24,215,000.00 
 
1992 ISSUE $ 25,200,000.00 
985,000.00 
 
$ 24,215,000.00 
 
FEB 1 -AUG 1 FEB 1 
 
- 37 - 
 
 COWETA COUNTY BOARD Of EDUCATION SCHEDULE Of STATE REVENUE 
YEAR ENDED JUNE 30 1995 
 
SCHEDULET 
 
AGENCY/FUNDING 
GRANTS 
or Education, Georgia Department 
Quality Basic Education General and Career Education Programs 
Special Education Programs Remedial Education Program Media Center Programs Slaff De>.elopmenl Programs 
Indirect Coll! 
Pupil Transportation Regular Bus Replacement 
Umiled English Speaking 
Middle School Incentive Special Instructional Assistance 
In-School Suspension School Counselors Grades 4 and 5 Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant 
Food Services 
Vocational Education Other State Programs 
Alternative Programs Al-Risk Summer School Program Environmental Science Program 
Govemor's Emergency Funds (1) 
lnoovative Programs Mentor Teacher Program Next Generation Schools Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lollery Programs Algebra Classrooms Allemative School Program Distant Leaming Instructional Technology Media Center and Library Equipment Next G&Mration Schools Pre-Kindergarten Program Safe Schools Grant Technology Installation 
Georgia Slate Fmancing and Investment Commission Reimbursement on Construction Projects 
Georgia Public Telecommunication Commission Distant Leaming 
or Reimbursement Seminar Expenses 
or Governor, Office the 
Governor's Emergency Funds (2) 
CONTRACTS 
or Education, Georgia Department or Implementation Department's Elementary School 
 Foreign Languages Model Program 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
GENERAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
FUND 
 
TOTAL 
 
$ 20,251,548.00 4,450,218.00 644,264.00 889,314.00 301,2TT.00 6,107,575.00 
1,143,154.00 350,440.00 13,940.00 739,118.00 247,898.89 192,519.00 51,488.00 
1,317,531.00 -5,663,232.00 1,463,583.00 
$ 6,794.00 
76,000.00 39,659.12 
1,000.00 2,000.00 4,800.00 10,580.00 115,000.00 134,763.00 7,193.76 12,392.25 
 
234,346.00 
663.24 92,546.00 112,288.20 314,130.81 174,610.90 55,000.00 520,747.73 113,021.59 89,749.61 
 
$ 20,251,548.00 4,450,218.00 &44,264.00 889,314.00 301,2n.00 6,107,575.00 
1,143,154.00 350,440.00 13,940.00 739,118.00 247,898.89 192,519.00 51,488.00 
1,317,531.00 -5,683,232.00 1,463,583.00 
234,348.00 6,TIM.00 
76,000.00 39,859.12 
1,000.00 2,000.00 4,800.00 10,580.00 115,000.00 134,763.00 7,193.76 12,392.25 
663.24 92,546.00 112,288.20 314,130.81 174,610.90 55,000.00 520,747.73 113,021.59 89,749.61 
 
$ 3,429,097.33 
 
3,429,097.33 
 
250.00 
 
51.00 
 
51.00 250.00 
 
5,503.60 
 
5,503.60 
 
56,173.06 
 
56,173.06 
 
or or (1) The purpose these funds is for the "1995 Georgia School Excellence". or or (2) The purpose these funds is for the State portion Disaster Relief Funds. 
 
s 32,9n,744.68 s 1i701,1ss.os s 3,429,097.33 s 3811081997.09 
 
See notes to the general purpose financial statements. 
 
- 38 - 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE 
YEAR ENDED JUNE 30, 1995 
 
SCHEDULE '7" 
 
Taxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Estate Transfer Tax 
Other Child Care Fees Donations Indirect Cost Special Revenue Fund Interest Earned Rents Sales Adult Meals Breakfast Lunches School Assets Supplemental Tuition Other 
 
GENERAL FUND 
 
GOVERNMENTAL FUND TYPES 
 
SPECIAL 
 
CAPITAL 
 
REVENUE 
 
PROJECTS 
 
FUND 
 
FUND 
 
DEBT SERVICE 
FUND 
 
TOTAL 
 
$ 21,541,726.57 22,140.50 128,616.66 
 
$ 5,263,126.75 $ 5,263,126.75 
 
21,541,726.57 
 
22,140.50 
 
29,398.09 
 
158,014.75 
 
332,668.10 3,500.00 
 
33,055.04 386,706.59 $ 
6,396.50 
 
23,365.87 $ 301,328.25 
 
236,330.60 
102,106.70 153,367.76 
 
174,322.19 81,608.92 
1,037,141.65 
55,234.60 
3,976.47 
 
131,284.88 
 
332,668.10 3,500.00 
33,055.04 842,685.59 
6,396.50 
174,322.19 81,608.92 
1,037,141.65 236,330.60 55,234.60 102,106.70 157,344.23 
 
$ 22,946,615.02 $ 1,375,649.70 $ 301,328.25 $ 5,423,809.72 $ 30,047,402.69 
 
See notes to the general purpose financial statements. 
 
- 39 - 
 
  COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS 
YEAR ENDED JUNE 30, 1995 
 
SCHEDULE "8" 
 
EXPENDITURES 
Operating Costs Salaries Employee Benefits Travel of Employees Professional and Technical Services Travel of Board Members Water, Sewer and Cleaning Services Repair and Maintenance Services Rents Insurance Communications Commodity Hauling Shared Services Other Purchased Services Supplies Energy Food Usage Books, Textbooks and Periodicals Dues and Fees Interest Expense Federal Indirect Costs Other Expenditures Unemployment Claims Workers Compensation Claims 
Nonoperating Costs Principal and Interest Land and Land Improvements Building and Building Improvements Equipment 
 
GENERAL FUND 
 
SPECIAL REVENUE 
FUND 
 
TOTAL 
 
$ 35,684,578.66 $ 2,655, 176.17 $ 38,339,754.83 
 
9,257,121.69 
 
770,728.97 
 
10,027,850.66 
 
82,186.69 
 
20,291.30 
 
102,477.99 
 
236,176.96 
 
109,113.58 
 
345,290.54 
 
2,390.53 
 
2,390.53 
 
212,905.77 
 
212,905.77 
 
467,607.60 
 
34,796.33 
 
502,403.93 
 
83,532.33 
 
83,532.33 
 
178,671.28 
 
178,671.28 
 
175,816.56 
 
1,558.52 
 
177,375.08 
 
15,084.39 
 
15,084.39 
 
35,643.00 
 
35,643.00 
 
233,545.68 
 
12,189.91 
 
245,735.59 
 
1,494,775.89 
 
632,014.73 
 
2,126,790.62 
 
1,594,640.20 
 
1,594,640.20 
 
1,706,556.00 
 
1,706,556.00 
 
684,151.02 
 
8,595.78 
 
692,746.80 
 
68,551.73 
 
13,952.49 
 
82,504.22 
 
1,087.50 
 
1,087.50 
 
33,055.04 
 
33,055.04 
 
12,399.67 
 
3,413.65 
 
15,813.32 
 
11,865.06 
 
11,865.06 
 
127,337.86 
 
127,337.86 
 
256,434.50 20,760.33 
268,941.10 1,291,288.82 
 
969,018.72 
 
256,434.50 20,760.33 
268,941.10 2,260,307.54 
 
Total Expenditures 
 
$ 52,482,410.43 $ 6,985,545.58 $ 59,467,956.01 
 
See notes to the general purpose financial statements. - 41 - 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT 
LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1995 
 
EXPENDITURES 
Operating Costs Salaries Employee Benefits 
 Travel of Employees Professional and Technical Services Communications Other Purchased Services Supplies Books, Textbooks and Periodicals Dues and Fees Other Expenditures 
Nonoperating Costs Equipment 
 
ALTERNATIVE 
 
ALGEBRA 
 
SCHOOL 
 
CLASSROOMS PROGRAM 
 
DISTANT LEARNING 
 
INSTRUCTIONAL TECHNOLOGY 
 
MEDIA CENTER AND 
LIBRARY EQUIPMENT 
 
$ 
 
805.00 
 
$ 17,223.79 $ 23,353.00 
 
$ 
 
663.24 
 
359.00 
 
$ 58,508.97 
179.80 
 
500.00 33,728.71 
 
74,963.21 
 
90,385.74 
 
266,366.81 
 
140,382.19 
 
Total Expenditures 
 
$ 
 
663.24 $ 
 
92,546.00 $ 113,738.74 $ 
 
325,860.58 $ 
 
174,610.90 
 
See notes to the general purpose financial statements. 
 
- 42 - 
 
 SCHEDULE "9" 
 
NEXT GENERATION 
SCHOOLS 
 
PRE-KINDERGARTEN PROGRAM 
 
SAFE SCHOOLS 
GRANT 
 
TECHNOLOGY INSTALLATION 
 
G.P.T.C. DISTANT LEARNING 
 
TOTAL 
 
$ 
 
$ 
 
55,000.00 
 
$ 
 
551000.00 $ 
 
322,390.61 87,363.14 
3,531.30 4,447.98 
393.00 1,873.11 61,092.24 $ 2,542.55 
341.15 3,413.65 
33 359.00 
 
22,278.59 $ 90,743.00 
 
n,894.61 11,855.00 $ 
 
520,747.73 $ 113,021.59 $ 
 
89?49.61 $ 
 
$ 322,390.61 87,363.14 3,531.30 5,252.98 393.00 2,373.11 
294,079.91 3,744.59 341.15 3,413.65 
 
51.00 
 
763,105.95 
 
51.00 $ 11485,989.39 
 
- 43 - 
 
  COWETA COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL 
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30. 1995 
 
SCHEDULE "1 O" 
 
Minimum Expenditure Requirements (Total Allotment) Expenditures on Combined Program Basis 
Salaries Operations 
Less: Expenditures for Media Center Programs in Excess of Total Media Allotment 
Expenditures per Audit 
Amount of Underexpenditure for Total Allotment 
 
THIRTEEN WEIGHTED AND MEDIA CENTER 
PROGRAMS 
 
100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS 
 
$ 27,266,751.00 $ 
 
939,293.00 
 
$ 31,225,867.01 1,769,108.14 $ _ __,1,_34_5..:..,1_9_0_.6_8 
$ 32,994,975.15 
 
-495,298.26 $ 32,499,676.89 
 
$ 
 
0.00 $ = = = = = =0.0=0 
 
See notes to the general purpose financial statements. - 45 - 
 
 COWETA COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS. BY PROGRAM 
GENERAL FUND QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995 
 
GENERAL ANQ CARl;;ER l;;QUCATION PROGRAMS Kindergarten (") Grades 1  3 r) Sub-Total  K-3 Grades 4  5 (*) Grades 68 (") Grades 9-12 r) High School Laboratories (*) Vocational Education Laboratories (*) Total General and Career Education Programs 
SPECIAL EDUCATION PROGRAMS Regular Programs Category I (*) Category II (*) Category Ill (*) Category N (*) Sub-Total - Regular Category V (Gifted) (*) Total Special Education Programs 
REMEDIAL EDUCATION PROGRAM(*} Total Thirteen Weighted Programs 
MEDIA CENTER PROGRAMS Salaries Operations Total Media Center Programs 
Total Thirteen Weighted and Media Center Programs 
 
ALLOTMENTS FROM DEPARTMENT OF EDUCATION 
 
REQUIRED 
 
ORIGINAL 
 
'I(, 
 
ORIGINAL 
 
MID-TERM 
 
$ 2,337,384.00 
 
$ 2,103,645.60 $ 
 
5,693,231.00 
 
5.123,907.90 
 
$ 8,030,615.00 90 $ 7,227,553.50 $ 
 
2,625,882.00 90 
 
2,363,293.80 
 
4,225,904.00 90 
 
3,803,313.60 
 
1,792,435.00 90 
 
1,613,191.50 
 
2,524,747.00 90 
 
2,272,272.30 
 
1,051,965.00 90 
 
946,768.50 
 
$ 20,251,548.00 
 
$ 18,226,393.20 $ 
 
35,072.00 284,406.00 319,478.00 100,798.00 244,523.00 143,512.00 
3,716.50 -26,014.50 786,013.00 
 
$ 4,000,515.00 
 
$ 3,600,463.50 $ 
 
157,178.00 
 
$ 4,000,515.00 
 
449,703.00 
 
$ 4,450,218.00 
 
$ 
 
644,264.00 
 
$ 25,346,030.00 
 
90 $ 3,600,463.50 $ 
 
90 
 
404,732.70 
 
$ 4,005,196.20 $ 
 
90 $ 
 
579,837.60 $ 
 
$ 22,811,427.00 $ 
 
157,178.00 27,835.00 
185,013.00 22,989.00 
994,015.00 
 
$ 
 
696,478.00 90 $ 
 
626,830.20 $ 
 
192,836.00 90 
 
173,552.40 
 
$ 
 
889,314.00 
 
$ 
 
800,382.60 $ 
 
27,168.00 10,224.00 
37,392.00 
 
$ 26,235,344.00 
 
$ 23,611,809.60 $ 1,031,407.00 
 
STAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development 
Total Staff Development (*) Identifies Thirteen Weighted Programs. See notes to the general purpose financial statements. 
 
$ 
 
70,824.00 
 
230,453.00 
 
$ 
 
70,824.00 $ 
 
230,453.00 
 
3,905.00 0.00 
 
$ 
 
301,277.00 100 $ 
 
301,277.00 $ ===3aaa,9=05=.0=0 
 
 46  
 
 SCHEDULE 11 
 
TOTAL REQUIRED 
 
ACTUAL EXPENDITURES 
 
SALARIES 
 
OPERATIONS 
 
TOTAL 
 
AMOUNT OF UNDEREXPENDITURE 
FOR REQUIRED ALLOTMENT 
 
$ 2,138,717.60 $ 2,742,496.98 $ 
 
51,702.42 $ 2,794,199.40 
 
5,408,313.90 
 
6,493,355.16 
 
200,422.79 
 
6,693,777.95 
 
$ 7,547,031.50 $ 9,235,852.14 $ 
 
252,12521 $ 9,487,977.35 $ 
 
0.00 
 
2,464,091.80 
 
2,820,806.09 
 
125,849.94 
 
2,946,656.03 
 
0.00 
 
4,047,836.60 
 
6,092,174.84 
 
260,801.16 
 
6,352,976.00 
 
0.00 
 
1,756,703.50 
 
2,950,525.71 
 
218,139.71 
 
3,168,665.42 
 
0.00 
 
2,275,988.80 
 
2,276,481.44 
 
171,388.38 
 
2,447,869.82 
 
0.00 
 
920,754.00 
 
1,230,356.91 
 
173,812.78 
 
1,404,169.69 
 
0.00 
 
$ 19,012,406.20 $ 24,606,197.13 $ 1,202,117.18 $ 25,808,314.31 
 
$ 3,757,641.50 $ 
 
2,085,295.98 $ 1,092,078.43 
624,993.77 363,697.51 
 
6,043.86 $ 23,924.40 80,672.17 4.256.68 
 
2,091,339.84 1,116,002.83 
705,665.94 367,954.19 
 
$ 3,757,641.50 $ 4,166,065.69 $ 
 
114,897.11 $ 4,280,962.80 
 
0.00 
 
432,567.70 
 
561,477.58 
 
16,207.36 
 
577,684.94 
 
0.00 
 
$ 4,190,209.20 $ 4,727,543.27 $ 
 
131,104.47 $ 4,858,647.74 
 
$ 
 
602,826.60 $ 
 
894,039.81 $ 
 
11,969.03 $ 
 
906,008.84 
 
0.00 
 
$ 23,805,442.00 $ "30,227,780.21 $ 1,345,190.68 $ 31,572,970.89 
 
$ 
 
653,998.20 $ 
 
998,086.80 
 
$ 
 
998,086.80 
 
0.00 
 
183,776.40 
 
$ 
 
423,917.46 
 
423,917.46 
 
0.00 
 
$ 
 
837,774.60 $ 
 
998.086.80 $ 
 
423,917.46 $ 1,422.004.26 
 
$ 24.643,216.60 $ 31,225,867.01 $ 1,769,108.14 $ 32,994.975.15 $ 
 
0.00 
 
$ 
 
74,729.00 
 
230,453.00 
 
$ ====3=0=5,=18=2=.00= 
 
$ 
 
149,591.27 $ 
 
149,591.27 
 
163,486.86 
 
163,486.86 
 
$ 
 
313,078.13 $ 
 
313,078.13 $ 
 
0.00 
 
======= 
 
- 47 - 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF TRAVEL OF BOARD MEMBERS 
YEAR ENDED JUNE 30, 1995 
BOARD MEMBER ADDRESS 
Mr. C. Bradford Sears, Jr., Chairman (*) 
P. o. Box 11n 
Newnan, Georgia 30264 
Mr. Wade Corley(*) 57 Ashmore Drive Newnan, Georgia 30263 
Mr. Bill Covington (*) 80 Woodridge Drive Newnan, Georgia 30263 
Mr. Holmes Cunningham 8 Logwood Lane Shenandoah, Georgia 30265 
Mr. Harry Mullins(*) 1 Cardinal Drive Newnan, Georgia 30263 
Ms. Smith Pass (*) 9 Brookwood Drive Newnan, Georgia 30263 
Mrs. Barbara Scruggs (*) 842 Mike Powers Road Grantville, Georgia 30220 
Mr. Rhodes Shell 213 Jackson Street Newnan, Georgia 30263 
Mr. Michael Smith (*) 168 Greenville Street Newnan, Georgia 30263 
Mr. Michael Sumner(*) 87 LaGrange Street Newnan, Georgia 30263 
 
(*) Denotes Board Members Serving as of June 30, 1995 
 
See notes to the general purpose financial statements. 
 
- 48 - 
 
SCHEDULE "12" 
 
$ 
 
130.01 
 
180.91 
 
409.80 733.51 
 
336.50 424.09 
64.20 111.51 
$ ====2=,3=90=.5=3 
 
 SECTION II COMPLIANCE 
 
 CLAUDE L. VICKERS 
STATE AUDITOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation 
and Superintendent and Members ofthe Coweta County Board ofEducation 
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
Ladies and Gentlemen: 
We have audited the general purpose financial statements ofthe Coweta County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 22, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. 
Except as discussed in the following paragraph, 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. 
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. 
Compliance with laws, regulations, contracts, and grants applicable to Coweta County Board of Education is the responsibility ofthe Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective 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 ofour tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards. 
95CRL-10 
 
 This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. 
Respectfully submitted, 
 
CLV:gp 95CRL-10 
 
Claude L. Vickers State Auditor 
 
 CLAUDE L. VICKERS 
STATE AUDITOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation 
and Superintendent and Members of the Coweta County Board ofEducation 
 
SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS 
 
Ladies and Gentlemen: 
 
We have audited the general purpose financial statements ofthe Coweta County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 22, 1996. This report was qualified for a scope limitation and 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 Coweta County Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995: 
 
( 1) Political Activity 
 
(5) Allowable Costs/Cost Principles 
 
(2) Civil Rights 
 
(6) Drug-Free Workplace Act 
 
(3) Cash Management 
 
(7) Audit Follow-Up/Resolution 
 
(4) Federal Financial Reports 
 
(8) Administrative Requirements 
 
Our procedures were limited to the applicable procedures described in the Office 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 Board's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. 
 
95CRL-50 
 
 With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not tested, nothing came to our attention that caused us to believe that the Coweta County Board ofEducation 
had not complied, in all material respects, with those requirements. However, the results of our procedures 
disclosed an immaterial instance ofnoncompliance with those requirements, which is described in the Schedule ofFindings and Improper or Questioned Costs. 
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. 
Respectfully submitted, 
 
CLV:gp 95CRL-50 
 
Claude L. Vickers State Auditor 
 
 CLAUDE L. VICKERS 
STATE AUDllOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation 
and Superintendent and Members of the Coweta County Board ofEducation 
 
SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS 
 
Ladies and Gentlemen: 
 
We have audited the general purpose financial statements ofthe Coweta County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 22, 1996. This report was qualified for a scope limitation and 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 Coweta County Board ofEducation's compliance with the requirements governing: 
 
(1) Types of Services Allowed or Unallowed 
 
(5) Applicable Special Tests and Provisions 
 
(2) Eligibility 
(3) Matching, Level 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, 1995. The management of the Coweta County Board ofEducation is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. 
 
95CRL-80 
 
 Except as discussed in the following paragraph, 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 ofManagement and Budget (0MB) Circular A-128, "Audits of State and 
Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit 
to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Coweta County Board of Education's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. 
We did not observe the taking of either the-Federal donated commodities inventory or the purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. However, this matter has no affect on the Board's compliance with the requirements listed in the second paragraph of this report. 
In our opinion, the Coweta County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1995. 
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. 
Respectfully submitted, 
~ 
Claude L. Vickers State Auditor 
CLV:gp 95CRL-80 
 
 CLAUDE L. VICKERS 
STATE AUDITOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation 
and Superintendent and Members of the Coweta County Board ofEducation 
 
SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS 
 
Ladies and Gentlemen: 
 
We have audited the general pwpose financial statements ofthe Coweta County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 22, 1996. This report was qualified for a scope limitation and 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 ofthe fiscal year 1995 general purpose financial statements of the Coweta 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 A-128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governing: 
 
( 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 Coweta County Board ofEducation'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 
 
95CRL-120 
 
 came to our attention that caused us to believe that the Coweta County Board ofEducation had not complied, in all material respects, with those requirements. 
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record. 
Respectfully submitted, 
 
CLV:gp 95CRL-120 
 
Claude L. Vickers 
State Auditor 
 
 SECTION III INTERNAL CONTROL 
 
 CLAUDE L. VICKERS 
STATE AUDITOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation 
and Superintendent and Members of the Coweta County Board ofEducation 
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 
Ladies and Gentlemen: 
We have audited the general purpose financial statements ofthe Coweta County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated May 22, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. 
Except as discussed in the following paragraph, 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. 
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. 
The management of the Coweta 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 ofan internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not 
 
95ICL-3 
 
 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. 
In planning and perfonning our audit ofthe general purpose financial statements of the Coweta County Board ofEducation for the year ended June 30, 1995, 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 detennine 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. A reportable condition involves 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 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 considered to be a material weakness. 
This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Coweta County Board of Education's financial statements and this report does not affect our report thereon dated May 22, 1996. 
95ICL-3 
 
 This report is intended for the information of management, the Federal cognizant audit agency and other Federal granter 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 95ICL-3 
 
 CLAUDE L. VICKERS 
STATE AUDITOR 
(404) 656-2174 
 
DEPARTMENT OF AUDITS AND ACCOUNTS 
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 
May 22, 1996 
 
Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation 
and Superintendent and Members of the Coweta County Board ofEducation 
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS 
Ladies and Gentlemen: 
We have audited the general purpose financial statements ofthe Coweta County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated May 22, 1996. This report was qualified for a scope limitation and 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 Coweta County Board ofEducation's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated May 22, 1996. 
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions of Office ofManagement and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Coweta County Board of Education complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program. 
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. 
In planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose 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 
95ICL-7 
 
 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 22, 1996. 
 
The management of the Coweta County Board ofEducation is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. 
an The objectives of internal control structure are to provide management with reasonable, but not absolute, 
assurance that, assets are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that Federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure, errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection ofany evaluation 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 of the design and operation of policies and procedures may deteriorate. 
 
For the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering Federal financial assistance programs in the following control categories: 
 
GENERAL REQUIREMENTS 
 
SPECIFIC REQUIREMENTS 
 
(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 Reimbursement 
 
For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk. 
 
During the year ended June 30, 1995, the Coweta County Board of Education expended 81% of its total Federal financial assistance under major Federal financial assistance programs. 
 
95ICL-7 
 
 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 ofthe Board's major Federal financial assistance programs, which are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion. 
We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. A reportable condition involves matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations. 
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category: 
Administrative Requirements 
A material weakness is a reportable condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. 
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition described above is considered to be a material weakness. 
This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit ofthe Coweta County Board ofEducation's compliance with requirements applicable to its major Federal financial assistance programs for the year ended June 30, 1995, and this report does not affect our report thereon dated May 22, 1996. 
This report is intended for the information of management, the Federal cognizant audit agency and other Federal granter agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record. 
Respectfully submitted, 
~ 
Claude L. Vickers State Auditor 
CLV:gp 95ICL-7 
 
 SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS 
YEAR ENDED JUNE 30, 1995 
PRIOR YEAR 
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $13,709.35 Audit Control Number 6381-93-04 
The audit report for the year ended June 30, 1993, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$13,709.35 for the StaffDevelopment - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of$13,709.35 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. 
AUDIT FOLLOW-UP/RESOLUTION Inadequate Separation ofDuties Financial Statements/Federal Financial Assistance Finding Resolved Audit Control Number 6381-94-01 
The audit report for the year ended June 30, 1994, stated that the Board did not provide for adequate separation of employee duties in the performance of accounting functions and related procedures for the School Food Services Fund (CFDA 10.550, 10.553, 10.555 and 10.558). For the year under review, the Board implemented changes to separate the duties of these employees such that appropriate internal controls were in effect. 
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $54,132.16 Audit Control Number 63 81-94-02 
The audit report for the year ended June 30, 1994, reported that the Board had underexpenditures of Quality Basic Education (QBE) funds of $45,850.64 for the operations portion of the Special Education Regular Programs, $2,836.32 for the operations portion of the Special Education Gifted Program and $5,445.20 for the operations portion of the Remedial Education Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department of Education to refund these underexpenditures as required. The underexpenditures of $54,132.16 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- 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS 
YEAR ENDED JUNE 30, 1995 
PRIOR YEAR 
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $38,508.34 Audit Control Number 6381-94-03 
The audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of$38,508.34 for the StaffDevelopment - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of$38,508.34 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period. 
AUDIT FOLLOW-UP/RESOLUTION Expenditures in Excess ofBudget Federal Financial Assistance Finding Resolved Audit Control Number 6381-94-04 
The audit report for the year ended June 30, 1994, reported that the Board inappropriately expended $13,062.94 in one budget category in Title VI, B - Flow Through funds (CFDA 84.027) without seeking approval of the Georgia Department of Education. During the year under review, the Georgia Department ofEducation determined that the $13,062.94 was appropriately expended by the Board. In addition, the Board implemented measures to assure that budget amendments are obtained when expenditures exceed 120 percent of a single budget category. 
AUDIT FOLLOW-UP/RESOLUTION Audit Distribution Requirements Federal Financial Assistance Finding Resolved Audit Control Number 63 81-94-05 
The audit report for the year ended June 30, 1994, stated that the Board failed to submit a copy of the 1993 audit report to the U. S. Department ofEducation from whom the Board received Elementary and Secondary Education Act -Even Start (CFDA 84.213) and P.L. 81-874 (CFDA 84.041) funds. In the year under review, the Board submitted copies of the 1993 audit report to those agencies. 
-2- 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS 
YEAR ENDED JUNE 30, 1995 
 
PRIOR YEAR/CURRENT YEAR 
 
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6381-93-01 
 
The audit report for the year ended June 30, 1994, noted that the management ofthe Coweta County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal 
accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group. 
 
CURRENT YEAR 
 
GENERAL LEDGER Failure to Transfer Local Matching Funds Financial Statements Nonmaterial Noncompliance Audit Control Number 6381-95-01 
 
The Board received approval for State capital outlay project funding, through the Georgia Department of Education, for the 1995 fiscal year. Both the instructions in Chapter 41 of the Financial Management for Georgia Local Units of Administration (FMGLUA) and the agreement signed by the Board to receive this 
funding require that the Board transfer required local matching funds to the Capital Projects Fund by June 30, 
1995, and designate those funds by project name and number. This transfer was not made by the Board at June 30, 1995. A correcting audit adjustment was necessary to transfer $189,622.00 from the Capital Projects Fund - Regular Project to the following projects as required: 
 
LOTTERY PROJECT NUMBER 
 
AMOUNT 
 
96/95S-638-024 96/95S-638-025 96/95 S-63 8-026 96/95S-638-027 96/95S-638-028 
 
$ 75,647.00 42,065.00 23,970.00 23,970.00 23,970.00 
 
$ 189,622.00 
 
-3- 
 
 COWETA COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS 
YEAR ENDED JUNE 30, 1995 
CURRENT YEAR ADMINISTRATIVE REQUIREMENTS Inadequate Inventory Records Federal Financial Assistance Major Program Reportable Condition - Material Weakness Nonmaterial Noncompliance Audit Control Number 6381-95-02 Property management records maintained by the Board for the Elementary and Secondary Education Act Chapter 1 - Education of Deprived Children (CFDA 84.010) program were incomplete and failed to meet property management standards as set forth in Chapter 41 of the Financial Management for Georgia Local Units of Administration (FMGLUA). The inventory records as presented for audit did not contain additions for purchases made in the period under review. This condition occurred because management did not ensure that all equipment purchases were included in property management records. An inventory system should be implemented that provides for the identification of all equipment purchased as outlined in Chapter 41 ofthe FMGLUA. Perpetual records should include historical information regarding additions and deletions made to the equipment inventory during each fiscal year (when applicable). Periodic physical inventory counts should be performed and reconciled to the property records to ensure the accuracy ofinventory records. 
Note: The Coweta County Board ofEducation was provided an opportunity to include pertinent comments from the Board's management concerning these audit findings, conclusions and recommendations. The Board has elected not to provide comments for inclusion in this report. 
-4-