M !MOO J;U [;JJ, ])3 /9'13-'14- STATE OF GEORGIA DEPARTMENT OF AUDITS 254 WASHINGTON STREET ATLANTA. GEORGIA 30334 AUDIT REPORT DEKALB COUNTY BOARD OF EDUCATION DECATUR, GEORGIA YEAR ENDED JUNE 30, 1994 DEKALB COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION I FINANCIAL INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION - SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE EXHIBITS GENERAL PURPOSE FINANCIAL STATEMENTS COMBINED STATEMENTS- OVERviEW A COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP 2 B COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS 4 C COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -ACTUAL AND BUDGET GOVERNMENTAL FUND TYPES 7 D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 8 ADDITIONAL FINANCIAL INFORMATION COMBINING STATEMENTS SPECIAL REVENUE FUND E COMBINING BALANCE SHEET 22 F COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 26 CAPITAL PROJECTS FUND G COMBINING BALANCE SHEET 30 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 32 FIDUCIARY FUND TYPES I COMBINING BALANCE SHEET 34 J COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES EXPENDABLE TRUST FUNDS 35 K COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS 37 DEKALB COUNTY. BOARD OF EDUCATION TABLE OF CONTENTS SECTION I FINANCIAL ADDITIONAL FINANCIAL INFORMATION SCHEDULES l SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 40 2 ANALYSIS OF CASH AND CASH EQUIVALENTS 44 3 INVESTMENTS 45 4 ACCOUNTS RECEIVABLE 46 5 NOTES RECEIVABLE 49 6 DEBT SERVICE REQUIREMENTS TO MATURITY 50 SCHEDULE OF REVENUE 7 STATE FUNDS 52 8 LOCAL AND OTHER FUNDS 53 SCHEDULE OF EXPENDITURES BY OBJECT 9 GOVERNMENTAL FUND TYPES 54 10 LOTTERY PROGRAMS 55 11 FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS 56 ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS GENERAL FUND QUALITY BASIC EDUCATION PROGRAMS 12 OVERALL . 57 13 BY PROGRAM 58 14 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS 60 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 DEKALB COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION III INTERNAL CONTROL REPORT ON INTERNAL CON~TROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SCHEDULE OF PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SECTION I FINANCIAL CLAUDE L. VICKERS STATE AUDITOR (404) 6562174 DEPARTMENT OF AUDITS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 May 26, 1995 Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation and Superintendent and Members of the DeKalb 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 PUTP.Ose financial statements (Exhibits A through D) of the DeKalb County Board of Education, as of and for the year ended June 30, 1994, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes exaniining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: * The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles. 94ARL-13 * School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements. * The Board did not recognize as expenditures, in the year ended June 30, 1994, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1994. Also funds received, subsequent to June 30, 1994, 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, 1993, were improperly recorded in the year ended June 30, 1994. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed. * The Board did not record inventories of purchased foods and Federal donated commodities housed at the various school sites in its general purpose financial statements. To conform to generally accepted accounting principles, these amounts should be recorded in the general purpose financial statements. The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material. In our opinion, except for the effects on the general purpose financial statements ofthe matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the DeKalb County Board of Education as of June 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. Our audit was conducted for the purpose offorming an opinion on the general purpose financial statements ofthe DeKalb County Board of Education taken as a whole. The combining statements (Exhibits E through K) and the financial schedules (Schedules I through 14 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part of the general purpose financial statements of the DeKalb County Board of Education. Such information has been subjected to the auditing procedures applied in the audit ofthe general purpose financial statements and, in our opinion, except for the effects of the matters referred to in the third paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole. A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press ofthe State, as provided for by Official Code of Georgia Annotated Section 50-6-24. Respectfully submitted, ~~ Claude L. Vickers State Auditor CLV:cm 94ARL-13 DEKALB COUNTY BOARD OF EDUCATION - 1- Cash and cash Equivalents lrM!Slmenls Accounts Receivable Notes Receivable lrwentories Amount Available in Debt Service Fund Amount to be Provided in Future Years For Payment of: Bond Debt Compensated Absences LIABILITIES AND FUND EQUITY ~ Accounts Payable Solaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Deferred Revenue Funds Held for others Compensated Absences Ganeral Obligation Bonds Payable Total Liabillties FUND EQUITY Fund Balances ReseM!d For Arbitrage Rebate Tax For Bus Replacement Funds For Continuation of Federal Programs For Debi Service For Expired Grant Balances/Questioned Costs For Federal capital Outlay For lrwentories For Purpooes of Bond Issue For State C&pital Outlay Projects Unreserved Designated for Self-Insurance Fire Prctec:tion Undesignated Total Fund Equity Total Liabillties and Fund Equity GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND DEBT SERVICE FUND $ 8,113,390.42 $ 1,717,559.28 $ 693,707.22 $ 111,287.15 49,053,725.08 3,480,000.00 63,282,455.28 12,350,000.00 4,315,276.33 3,313,255.44 1,014,762.82 273,490.64 283,000.00 220,560.09 s 61 482 391.83 s 8 131 374.81 s 65 273 925.32 s 12 734 m.79 $ 7,004,303.61 $ 1,186,747.92 $ 650,414.10 2,258,739.06 5,056.39 292,680.10 164,224.98 175,900.00 938,047.64 135,471.12 $ 7659774.10 $ 3 902 392.06 $ 1249418.76 $ 184,470.08 $ 76,344.56 $ 12,734,m.19 272,008.16 $ 386,506.93 220,560.09 16,313,343.04 32 871 458.39 $ 456,478.24 $ 296,904.65 $ 49,571,308.36 $ 12,734,m.19 2,000,000.00 51 366139.49 $ 53 822 617.73 $ 4532078.10 14453198.20 0.00 4 828 982.75 $ 64 024 506.56 $ 12734m.79 $ 61 482 391.83 $ 8 731 374.81 $ 65 273 925.32 $ 12734m_79 The notes to the general purpose financial statements are an integral part of this statement. -2- EXHIBIT.A" FIDUCIARY FUND TYPES TRUST AND AGENCY FUNDS ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTALS {Memorandum On!Y.} JUNE30 1994 JUNE30 1993 $ 1,343,3&4.-48 $ 11,979,308.55 $ 15,"'613,195.14 1,900,000.00 130,066,180.36 76,074,875.97 8,916,785.23 5,808,183.89 283,000.00 283,000.00 220,560.09 199,460.38 $ 12,734,777.79 12,734,777.79 10,257,603.28 104,880,222.21 5624420.TT 104,880,222.21 5624420.TT 60,242,396.72 5161757.76 $ 3 243 364.48 $ 123 239 420.TT $ 274 705 255.00 $ 173 295 473.14 273,584.91 86,297.95 $ $ 5,624,420.TT 117 615 000.00 8,640,536.44 $ 2,909,153.16 297,736.49 938,047.64 135,471.12 164,224.98 86,297.95 5,624,420.TT 117 615 000.00 8,827,973.33 2,807,341.33 99,938.54 33,430.00 2,467.50 85,911.25 188,797.18 5,161,757.76 70 500 000.00 $ 359882.86 $ 123239420.TT $ 136 410 888.55 $ 87 707 616.89 $ 2883481.62 $ 2883481.62 $ 366,522.80 $ 164,470.08 76,344.56 995.01 12,734,777.79 10,257,603.28 272,008.16 28,070.00 386,506.93 436,219.26 220,560.09 199,460.38 16,313,343.04 5,230,180.20 32 871 458.39 2262126.52 $ 63,059,469.04 $ 18,781,1TT.45 2,000,000.00 73 234 897.41 $ 138 294 366.45 $ 2,000,000.00 64 806 678.80 85 587 856.25 $ 3 243 364.48 $ 123239420.TT $ 274 705 255.00 $ 173 295 473.14 . 3. PEKAI RC'.OUNTV RQARP Of EDUCATION COUBINED STATEMENT OF RMNUE FXPENPIIURFS ANP CHANGES IN FUND MLANCES GOVFRNMENTAl EUNP JYPES AND FXPENQABLF TRUST EUNQS XEAB ENDFP JUNE 3Q 1994 ~ S-Funds F-Funds Local and Other Funds _, __ EXPENDITURES Curront lnstrucllon SupportSeMcoo -- --- PupllSeMcoo lmproywnent of Instructional SeMcoo SchoolAdmln- -and0po,atiol1 of Plont -T.._-SeMcoo CenlralSupportSeMcoo Other Support SeMcoo Food SeMcoo Opo,atiol1 E~Clplntior10 Capilol~ , _ OobtSorvice Principol PoyingAgonlF- Tclal~ OTHER FINANCING SOURCES OJSES) Accrued,_ on Bonda Sold l'roc:Ndl ln>m Gonoral Ol>liglllion Bonda ParValuo PNmlum on Bonda Sold o.-nonBondaSold Refunding Bond luuance Cool ~ to Bond "-Aeonl T , _ 0poraling T , _ In 0poraling Out Total Other F'ononc:lng Soun:es (Uen) Excooo of R-,uos and Other Financing Soun:eo - (under) ~ and Other F'ononc:lng u - FUND MLANCF JULY 1 I ~ Not Change In PwWJd GENERAi. FUND GOVERNMENTAi. FUND SPECIAL CAPITAi. REVENUE PROJECTS FUND FUND $ 168,706,257.89 $ 12,133,729.81 689,244.01 25,743,268.35 $ 238 881908.-46 13 820 153.62 $ 408 263 410.36 $ 51 6f17149.78 $ 88,254.00 2 493526.39 2592780.39 $ 275,812,285.02 $ 25,-.918.92 14,733,681.02 2,704,148.70 10,474,617.09 2,002,500.39 22,604,812.14 3,716,882.09 36,258,418.23 17,897,483.93 10,395,912.47 122,283.86 131,247.19 1114,787.44 2,483,085.24 229,229.81 795,539.16 137,481.79 208,373.45 215,992.88 $ 1,282,187.88 218,557.12_ 254,411.81 409,065.15 22,223,423.56 2,-.834.00 28,965.114 10,379,784.48 $ 398 818 809.57 $ 56 436 980.98 $ 10 788 829.61 9444800.79 $ -4739831.20 $ -8196049.22 $ 52,860,000.00 1,083,837.30 $ 7,000,000.00 $ -19 190 589.97 -12 190 589.97 $ 4,398,519.97 0.00 14,792,050.00 -7 000 000.00 4 398 519.97 $ 81 535 887.30 $ -2,745,788.18 $ -341,311.23 $ 53,339,838.08 56,568,388.91 5,149,194.27 10,884,688.48 21 099.71 FVNP QAI ANC:f JUNf 30 $ 53,822,617.73 $ 4,828,982.75 $ 64,024,506.56 The notes to t h e ~ purpose financial - are an integral pert of this -ernont. -4- EXHIBIT"B" TYPES DEBT SERVICE FUND TOTAL FIDUCIARY FUND TYPE EXPENDABLE TRUST FUNDS TOTALS tMamorandum Q!:!b'.} YEAR ENDED JUNE 30 1994 JUNE 30 1993 $ 12201637.44 180,839,987.70 26,531,784.36 267 383 225.91 $ 12 201 837.44 $ 474 754 977.97 $ 26 273 047.50 180,839,987.70 $ 168,270,755.02 26,531,784.36 25,152,414.08 293 656 273.41 275 475 495.27 26 273 047.50 $ 501 028 025.47 $ 468898884.35 $ 301,507,183.94 17,216,766.26 2,933,378.31 11,270,156.25 2,136,982.18 22,812,985.58 4,341,749.93 36,540,586.22 18,116,041.05 10,850,324.08 122,283.86 $ 22,354,670.75 2,484,834.00 10,573,497.74 5,545,000.00 4,363,458.54 4889.81 5,545,000.00 4,383,458.54 4889.81 9 943 348.35 $ 475 9f,1 768.51 $ 2 258 286.08 $ -1 232 790.54 $ 301,507,183.94 $ 285,233,982.28 26,317,569.19 17,216,786.26 2,933,378.31 11,270,156.25 2,136,982.18 22,812,985.58 4,341,749.93 36,540,586.22 18,116,041.05 10,850,324.08 26,436,833.05 22,354,670.75 2,484,834.00 10,573,497.74 16,480,236.47 1,584,124.68 9,474,782.33 2,198,312.42 21,977,484.04 2,797,880.57 36,495,841.58 18,573,584.94 8,893,980.08 25,713,585.00 22,927,283.79 545,953.61 10,045,585.85 5,545,000.00 4,393,458.54 4889.81 5,865,000.00 3,839,981.fn 5819.29 26317569.19 $ 502 305 337.70 $ 4n 534 390.81 -14 521.89 $ -1 277 312.23 $ 3 835 726.26 218,885.42 $ 218,885.42 52,860,000.00 1,083,837.30 26,190,569.97 -26 190 569.97 218885.42 $ 53962722.n $ 218,885.42 $ 272,784.08 52,860,000.00 1,083,637.30 26,190,569.97 -26 190 569.97 43,590,000.00 -454,577.95 -816,442.53 -42,518,979.52 8,658,581.50 -8 476 880.87 $ 53 982 122.n $ 455494.89 2,477,174.51 $ 10,257,603.28 52,729,932.18 $ 82,658,852.94 21 098.71 -14,521.89 $ 2,928,003.31 52,885,410.49 $ 85,587,856.25 21 098.71 -3,180,231.57 68,717,598.05 50491.77 1217341m.79 $ 135,410,884.83 $ 2,883,481.62 $ 138,294,366.45 $ 85 587,856.25 .5. QEK!I a ~um aQABQ QE EQY~IIQN CQMIINEP IAIEMEHI QE B~EN!.!E Et5;eEHCUili!BES ANQ Ct:IAN~E IN E!.!NQ ~NCES 6CD.!AL ANQ aUtKila !;iQY.EBNMEt:ml El.INC I:ifE YEAR ENPEP J!.!NE 3Q 1994 EXHIBIT"C" ACTUAL PER EXHIBIT"B" ADJUSTMENTS ACTUAL PER BUDGET BASIS BUDGET VARIANCE FAVORABLE (UNFAVORABLE) ~ State Funds Federal Funds Local and other Funds $ 180,839,987.70 $ 26,531,764.36 267,383,225.91 0.00 $ 180,839,987.70 $ 183,311,365.00 $ 26,531,764.36 21,413,278.00 267 383,225.91 253 054,815.00 -2,471,377.30 5,118,486.36 14 328,810.91 Total Reven.- $ 474,754 977.97 $ 0.00 $ 474,754 977.97 $ 457 779 258.00 $ 18 975 719.97 EXPENDITURES current lnatruction Support Services Pupil Services Improvement of lnatructional Services - - Educational Media Senliceo General Administration School Admlnillratlon Mainlonance and Operalion of Plant Student Tranoportation Senliceo Central Support Senliceo other Support Senliceo Food Services Operation Enterprise Operations Capital Outlay Debi service 301,507,183.94 $ 17,216,786.26 2,933,378.31 11,270,156.25 2,139,982.18 22,812,985.59 4,341,749.113 39,540,566.22 18,116,041.05 10,650,324.06 122,263.86 22,354,670.75 2,464,834.00 10,573,497.74 9 943,348.35 0.00 $ 301,507,183.94 $ 304,407,077.00 $ 17,216,786.26 16,754,142.00 2,933,378.31 11,270,156.25 2,139,982.18 22,812,985.59 4,341,749.113 2,519,531.00 11,280,939.00 2,354,919.00 22,781,603.00 4,068,448.00 39,540,566.22 18,116,041.05 10,650,324.06 122,263.86 22,354,670.75 2,464,834.00 10,573,497.74 9,943,348.35 40,879,327.00 17,337,442.00 12,262,635.00 547,896.00 19,313,935.00 3,014,890.00 24,069,554.00 10,864,031.00 2,899,893.06 -462,624.26 -413,847.31 10,782.75 214,936.82 -51,382.59 -273,301.113 1,338,740.78 -778,599.05 1,612,310.92 425,632.14 -3,040,735.75 550,056.00 13,496,056.26 920,682.65 Total Expenditures $ 475,987,768.51 $ 0.00 $ 475,987,768.51 $ 492,436,369.00 $ 16,448,600.49 Exceu of Reven.- ow,r (under) ExpendMureo $ -1,232,790.54 $ 0.00 $ -1 232 790.54 $ -34 657111.00 $ 33 424 320.46 QTHEB EIN~~lti QL!B~ES U.!SESl other Sources OlherUoes $ 80,153,292.29 $ -26,190,569.57 0.00 $ 80,153,292.29 $ 70,608,033.00 $ -26,190,569.57 -17156,833.00 9,545,259.29 ~.033,736.57 Total other F'onancing Soun:es (Uaeo) $ 53,962,722.72 $ 0.00 $ 53,962,722.72 $ 53,451,200.00 $ 511,522.72 Exceu of Revenues and Other Financing Sources over Expenditures and other Financing Uses $ 52,729,932.18 $ 0.00 $ 52,729,932.18 $ 18,794,089.00 $ 33,935,843.18 FUND ~LAN~E J!.!LY 1 lm INVENTORY - NET CHANGE IN PERIOD 82,659,852.94 21,099.71 -199,460.38 -21,099.71 82,460,392.56 0.00 82,144,651.79 315,740.77 0.00 FUND i!IILl',NCE J!JNE :lQ 1 ~ $ 135,410,884.83 $ -220,560.09 $ 135,190,324.74 $ 100,938,740.79 $ 34,251 583.95 Toe notes to the general purpooe financial statements are an integral part of this statement. -7- DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The DeKalb County Board ofEducation (Board) was established under the laws ofthe 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 of the departures from generally accepted accounting principles disclosed in the following paragraphs, 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 DeKalb County Board ofEducation. Based upon the application ofthe above criteria, the DeKalb County Board ofEducation is determined to be the lowest level of government exercising oversight responsibility and control over all activities related to public education in DeKalb County, Georgia, excluding that area encompassed by the City ofDecatur. 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 ofits operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set 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. - 8- DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOIBS TO THE GENERAL PURPOSE FINANCIAL STAIBMENTS JUNE30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements. The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds 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 ofthe Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services traditionally 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 and internal service fund. These funds could be accounted for as an enterprise funds; however, the Board chooses not to provide for depreciation, but to maintain the funds on a modified accrual basis and to report the funds as special revenue funds 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 ofresources for, and the payment ot; general long-term principal, interest and paying agent fees. FIDUCIARY FUND TYPES - the trust and agency funds used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. These funds include: EXPENDABLE TRUST FUNDS Self-Insured Employee Benefit Funds - the funds used for Dental Reserve, Employee Alternative Benefits and Health Self-Insurance Revenues and Expenditures. AGENCY FUNDS - the funds used to account for assets held for other funds, governments, or individuals. - 9- DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ACCOUNT GROUPS GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and material accrued compensated absences. BASIS OF ACCOUNTING The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and expendable trust funds are accounted for using a current financial resources measurement focus. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Their reported fund balance is considered a measure of available spendable resources. Liabilities which are expected to be financed from available spendable resources are reported as liabilities in the governmental funds. Other liabilities, which are not expected to be financed from available spendable resources, are reported in the General Long-Term Debt Account Group. Agency funds are purely custodial in nature and do not involve measurement of results ofoperations. Governmental funds and expendable trust funds are accounted for using the modified accrual basis of accounting under which: Revenues are recogniz.ed 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, beverage tax and investment income. Property taxes are considered available ifthey 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 1994, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1993 and ending in early June 1994. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1993 and ending in August 1994. State grants to fund the State's share ofthese contracts were disbursed from the Georgia Department ofEducation to the Board in the same twelve months. As ofJune 30, 1994, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1994, had not been made. - 10 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1994. Also, the State's portion of the compensation paid in July and August 1994 was received and recorded as revenue in the fiscal year subsequent to June 30, 1994. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1993, were recorded in the year ended June 30, 1994. 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. Agency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. BUDGET The DeKalb County Board ofEducation has a legally authorized nonappropriated budget which is formally approved by the Board at the aggregate level. Budgets are prepared to provide a basis for funding operations and there is no legal prohibition regarding overexpenditure of the aggregate budget. The budget process begins when the Board's administration prepares a tentative aggregated budget for the Board's approval. After approval of this tentative budget by the Board; such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board prepares its budget on the modified accrual basis, which is the same basis on which it presents its financial statements. The budget comparison on Exhibit "C" presents actual and budget data for all governmental funds on a combined basis. To facilitate comparison with the budget, inventories as reflected on Exhibit "B" have been eliminated from fund balance. CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates of deposit and savings accounts) in authoriz.ed 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 ofproceeds 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: - 11 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) Obligations issued by the State ofGeorgia 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 ofany corporation ofthe United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the Office of Treasury and Fiscal Services, (7) Repurchase agreements, and (8) Obligations of other political subdivisions of the State of Georgia. RECEIVABLES Receivables consist ofgrant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from infollllation available, Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. PROPERTY TAXES The DeKalb County Board ofCommissioners fixed the property tax levy for the 1993 tax year (calendar year) on June 22, 1993 (levy date). Taxes were due on November 15, 1993 and could be paid in two installments on August 15, 1993 and November 15, 1993 (due dates). The lien date for property taxes was January 1, 1993. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1994 since their collection meets the criteria ofGASB codification section P70. l 03. The DeKalb County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 1.9% 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 1993 tax year (calendar year) for the DeKalb County Board ofEducation were as follows (a mill equals $1 per thousand dollars of assessed value): School Operations School Bonds 23.53 mills 1.10 mills ~mills - 12 - DEKALB COUNTY BOARD OF EDUCATION EXEllBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note I: SUMMARY OF SIGNlFICANT ACCOUNTING POLICIES INVENTORIES FOOD INVENTORIES Inventories reported on the Combined Balance Sheet are comprised of purchased bulk commodities for resale to individual school lunchrooms within the DeKalb County School System and are valued at cost. Such inventories are maintained as a part of an Internal Services Fund and are equally offset with a corresponding reservation of fund balance as this amount is not available for discretionary expenditures. Donated food commodities are recorded as revenues and expenditures at the time commodity items are received. Inventories ofdonated and other food commodities housed at the various school lunchrooms used in the preparation of meals are not reported on the Combined Balance Sheet. To conform to generally accepted accounting principles, these amounts should be recorded in the general purpose financial statements. COMPENSATED ABSENCES Compensated absences represent obligations of the Board relating to employees' rights to receive compensation for future absences based upon service already rendered. This obligation relates only to vesting accumulating leave in which payment is probable and can be reasonably estimated. No liability has been recorded in the individual funds for the current portion ofthis obligation as this amount is deemed immaterial to the general purpose 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 ofinterfund transactions: Reimbursements ofexpenditures 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. - 13 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO TIIB GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES MEMORANDUM ONLY -TOTAL COLUMNS Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in con{ormity with generally accepted accounting principles. Neither are such data comparable to a consolidation. lnterfund eliminations have not been made in the aggregation ofthis data. DEFICIT FUND BALANCE The following fund reported a deficit fund balance position at June 30, 1994, which is not readily apparent on the general purpose financial statements: Fund Type/Fund Name Fiduciary Fund T~ Expenoable Trust Fund Dental Reserve Fund Note 2: DEPOSITS AND INVESTMENTS Deficit Balance $ )89327 82 COLLATERALIZATION OF DEPOSITS Official Code ofGeorgia 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 in an amount of not less than 110 percent of the public funds being secured after the deduction ofthe amount ofdeposit 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 ofor any combination ofthe 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 ofGeorgia, (4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia, (5) Bonds ofany public authority created by the laws of the State ofGeorgia, providing that the statute that created the authority authorized the use of the bonds for this purpose, - 14 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 2: DEPOSITS AND INVESTMENTS (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, 1994, the bank balances were $35,292,605.18. The amounts of the total bank balances are classified into three categories of credit risk: Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name. Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name. Category 3 - Uncollateralized deposits. (This includes any bank balance that is collateraliz~ 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, 1994, as follows: Risk Category I 2 3 Total CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: Bank Balance $ 1,000,000.00 26,914,273.99 7 378 331.19 $35 292 605 )8 Category I - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name. - 15 - DEKALB COUNTV BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 2: DEPOSITS AND INVESTMENTS At June 30, 1994, the canying amount ofthe Board's total investments was $130,066,180.36 and the market value of these investments was $130,066,180.36. The investments are classified as to risk categories as follows: Type of Invesbnent Risk Celegnries Carrying .Ammm!.. Market Value U.S. Government $ 27,298,656.69 $ 28,058,523.67 $ Repurchase Agreements 0.00 74 709 000.00 0.00 $ 55,357,180.36 $ 55,357,180.36 0.00 74 709 000.00 74 709 000.00 Total $ 27298 656 69 S 102767 523 67 $ _ __,0..0..0,. $ l30~ 18036 $ ]30066180 36 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 The Administrative Central Office of the Georgia Department of Technical and Adult Education used lottery proceeds to purchase $500,000.00 of equipment for DeKalb Technical Institute during the fiscal year ended June 30, 1994. However, revenues and expenditures for these lottery proceeds are not reflected in these financial statements. Note 4: RISK MANAGEMENT The Board has established a limited risk management program for Workers' Compensation. Estimated claims are budgeted by management based on known claims and prior experience. Workers' Compensation claims are paid out ofthe same fund that the employee's salary and benefits were paid from. During fiscal year 1994, a total ofSI,253,345.49 was paid in claims. An excess coverage insurance policy covers individual claims in excess of$250,000.00. The Board has established a limited risk management program for Unemployment Compensation. Estimated claims are budgeted by management based on known claims and prior experience. Unemployment Compensation claims are paid out ofthe same fund that the employee's salary and benefits were paid from. During fiscal year 1994, a total of$39,462.50 was paid in claims. The Board has designated $2,000,000.00 for a self-insurance fire protection program. - 16 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 5: GENERAL LONG-TERM DEBT The changes in General Long-Tenn Debt during the fiscal year ended June 30, 1994, were as follows: Compensated Absences General Obligation Bonds Total Balance July 1, 1993 $5,161,757.76 $70,500,000.00 $75,661,757.76 Additions Annual Leave Earned and Utilized (Net) Salaries Salary Related Fringe Benefits (*) Deductions 62,971.24 399,691.77 52,660,000.00 5 545 000.00 52,660,000.00 62,971.24 399,691.77 5 545 000.00 $ 5 624 420 77$117 615 000 00 $123 239 420 77 (*) Includes related fringe benefits applicable to compensated absences at July 1, 1994. At June 30, 1994, payments due, by fiscal year which includes principal and interest for these items: Fiscal Year Ended June 30 1995 1996 1997 1998 1999 2000 andthereafter Total Principal and Interest Note 6: PRIOR YEAR DEFEASEMENT OF DEBT General Obligation Bonds $ 12,949,718.75 12,905,087.50 13,169,025.00 13,476,093.13 8,363,598.75 113 758 947.56 $)74 622 470 69 In fiscal years 1992 and 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, 1994, $63,880,000.00 ofbonds are outstanding and are considered defeased. Note 7: SIGNIFICANT COMMITMENTS At June 30, 1994, the Board had encumbrances in the amount of$3,428,082.44 for the unperformed portion of purchase orders, contracts and other commitments for goods and services associated with the Lottery Programs. The Georgia Department of Education has funding available to the Board in an amount equal to these encumbrances. Encumbrances outstanding do not constitute expenditures or liabilities in the current year - 17 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994. Note 7: SIGNIFICANT COMMITMENTS because these commitments will be honored during the subsequent fiscal year. These encumbrances are identified by Lottery Program as follows: Algebra Classrooms Computers in Classrooms Distant Learning Media Center and Library Equipment Safe Schools Grant $ 40,662.55 1,218,251.64 110,000.00 1,371,758.54 687 409.71 S 3 428 08244 The following is an analysis of significant outstanding construction or renovation contracts executed by the Board as ofJune 30, 1994, together with funding available: Project Unearned Executed Contracts Funding Available From State 95/94S-644-018 93/92S-644-033 91-644-018 346 - Indian Creek Elementary 370 - Woodward Elementary 376 - Glen Haven Elementary 379 - Clifton Elementary 380 - Snapfinger Elementary 381 - Atherton Elementary 382 - Canby Lane Elementary 383 - Stone Mill Element!!:1)' 385 - Hooper Alexander Elementary 386 - Avondale Elementary 387 - Marbut Road Elementary 388 - Glen Haven Elementary 998 - Sexton Woods Center $ 1,480,366.67 $ 3,124,872.00 1,821,408.12 6,924,600.00 1,993,696.65 5,673,678.74 1,215,791.42 559,306.86 707,874.68 945,583.00 1,092,383.10 820,759.00 911,503.20 794,565.60 1,267,000.00 886,552.80 1,447,187.39 646,505.22 690 735.00 $1728121871 $15 723 150 74 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. - 18 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "D" NOTES TO Tiffi GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 9: ACCUMULATED EMPLOYEES' LEAVE Full-time twelve month employees earn annual leave ranging from ten days to twenty days per year depending on the employees' length ofcontinuous service with a maximum accumulation of sixty days. Employees are paid for unused accumulated annual leave at their current rate of pay upon retirement or termination of employment. Full-time employees earn one and one-quarter days of sick leave each month with a maximum accumulation ofone hundred eighty days. Employees are paid between $3.00 and $7.00 per day for unused sick leave which may range from twenty-six days to one hundred sixty-five days upon retirement or termination ofemployment. 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). TRS provides service retirement, disability retirement and survivors benefits for its members. A member is. eligible for service retirement after 30 years ofcreditable service, regardless ofage, or after 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number ofyears of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution ofthe member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement benefits also include death and disability benefits. A disabled member or surviving spouse is entitled to receive annually an amount equal to the member's service retirement benefit or disability retirement, whichever is greater. The death benefit is the amount that would be payable to the member's beneficiary had the member retired on the date of death on either a service retirement allowance or a disability retirement allowance, whichever is larger. The benefit is based on the member's creditable service (minimum of 10 years of service) and compensation up to the time of disability or death. Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contnbutions 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, 1994, was $290,089,153.28; total payroll was $310,561,770.00. - 19 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO TIIE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE30 1994 Note 10: RETIREMENT PLANS TRS CONTRIBUTIONS REQUIRED AND MADE Employees of the Board who are covered by TRS are required to contribute 6% of their gross earnings to TRS. The Board makes monthly employer contributions to TRS at rates adopted by the TRS Board of Trustees as advised by their independent actuary. For fiscal year 1994 that rate for employer contributions was 11.81%. The interest rate assumption (rate ofretum on investments) was 7.50%. Total contributions made during fiscal year 1994 amounted to $51,654,147.09, ofwhich $34,252,688.57 was made by the Board and $17,401,458.52 was made by employees. These contributions represented 11.81% (Board) and 6% (employees) of covered payroll. TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure 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, 1993, was as follows: Total pension benefit obligation $13,912,014,000.00 Net assets available for benefits, at cost 12 821 722 000.00 Unfunded pension benefit obligation $ I Q90 292 000 00 The measurement ofthe total pension benefit obligation is based on an actuarial valuation as ofJune 30, 1993. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements ofassets and pension benefit obligation for individual employers. Total.contributions from all employers to TRS for fiscal year ended June 30, 1994 were $521,550,000.00. The Board's contn"bution for the year ended June 30, 1994 of $34,252,688.57 was actuarially determined and represented 6.5675% of total contributions made by all participating employers. Ten year historical trend information is presented in the 1994 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. - 20 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "D" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30 1994 Note 10: RETIREMENT PLANS 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. PSERS provides service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years ofservice and attainment of age 65. A member applying for service retirement with 1Oyears of service and retires between the ages of60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number of years of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement provisions include death and disability benefits. Disability benefits are the same as ifthe employee had retired at age 65 as long as the employee has 15 or more years ofcreditable service. Death benefits are dependent upon the number ofyears of service. Ifthere are less than ten years of service, a lump sum refund of the employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement. Members become fully vested after ten years of service. Ifa member terminates with less than ten years of service, no vesting ofemployer contnbutions occurs, but the member's contributions are refunded with interest. There were 1,868 employees covered under PSERS for the year ended June 30, 1994. 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 ofGeorgia is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS' Board ofTrustees. Total contributions from employees ofthe Board made during fiscal year 1994 amounted to $62,804.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1994, was $9,150,000.00. Note 11: SURETY BONDS The School Superintendent, Dr. Robert R. Freeman, is bonded in the amount of $100,000.00 with the Hartford Fire Insurance Company, Hartford, Connecticut, their Bond No. 4638226, on which premium was paid through July 1, 1994. - 21 - QEKAbB CQlJNTV BOARD OF J:QIIQAJJQN CQMBINJNG RAI ANCE SHEFT seecLAJ REVENUE FLJNn JUNE3Q 1PP:1 Cash and Cash Equivalents SCHOOi. FOOD SERVICES FUND ATHLETIC FUND GEORGIA LEARNING RESOURCES SYSTEM 260,844.59 $ 28,870.45 $ 1,519.88 3,480,000 .DO 815,1o43.IM 3,150.110 T...I _ LIABJLmes ANP FUNP l;QUJTY Casho-dnaft -Payable Salaries Payable Expired Grant Balances Payable Oefemd Revenue T. . .lliabilltieo FUNPE9VJTY Fund Balances Reoerved For Continuation of Federal Programs For Inventories TalalFund Equity Tola! Llabililieo and Fund Equity $ 4,355,988.,43 $ 28670.45 $ 41189.88 468,558.08 9&4,142.45 $ 1,452,898.53 $ 192.58 3,754.84 615.85 299.311 192.58 $ 4,889.88 2,903,288.110 s 2,1103,288.90 s 28 4n.88 s, _ ___,,o,,,.oo"- 28 4n.ae s. --~o=.oo~ $ 4,355,988.,43 $ 28,870.45 $ 4,889.88 See notes to the general purpose fmancial statements. -22- EXHIBIT"E" "-1 INTERNAL SERVICE FUND STATE PRESCHOOi. HANDICAPPED PROGRAM SEVERELY EMOTIONALLY DISTURBED 807,025.115$ 10,291.06 $ 304,7-46.13 LOTTERY PROGRAMS DRUG-FREE SCHOOLS ANO COMMUNITIES M5f 2,264.57 DRUG-FREE SCHOOLS ANO COMMUNITIES - SCHOOi. PERSONNEL TRAINING 220,560.09 165,n Support Services Pupil Services Improvement or Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Food Services Operation Enterprise Operations Capital Outlay Total Expend"Jtures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES CLISE) Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1 Inventory- Net Change In Period FUND BALANCE JUNE 30 ELEMENTARY AND SECONDARY EDUCATION /lCT mLEU- CHAPTER1. EISENHOWER EDUCATION OF EDUCATION OF CHAPTER 2 MATHEMATICS FOREIGN CHILDREN IN DEPRNEO BLOCK GRANT- ANO SCIENCE LANGUAGES STATE SCHOOLS CHILDREN FLOW THROLIGH EDUCATION ASSISTANCE 30,258.43 $ 5,925,287.39 $ 603,036.11 $ 230,048.59 $ 30,399.80 30,258.43 $ 5 925,287.39 $ 603036.11 $ 230 048.59 $ 30,399.80 30,258.43 $ 5,830,550.911 $ 13,641.22 18,369.48 $ 601,750.89 1,285.22 229,229.61 818.96 30,399.80 --~30=~258=.43~$ 5862,561.69 $ 603,036.11 $ 230,048.59 $ 30,399.80 0.00 $ &2.ns.10 s ____o~.oo=s____o~.oo='--~o=.oo~ 0.00 $ 0.00 &2,ns.10 s 0.00 0.00 $ 0.00 0.00 $ 0.00 0.00 0.00 0.00 $ &2.ns.10 s____o:;;;.oo;a.s____o:;;;.oo..,s _ __.o.:aaooa. See notes to the general purpose financial statements. - 28- EXHIIIIT"F" "-2 EMERGENCY MMGRANT EDUCATION EDUCATION FOR HOMELESS CHILDREN ANDYOUTH &1,346.38 S 23,433.95 $ INOMOUALS WITH DISABIUTIES EDUCATION /CT TITLEVI, B FLOW PRESCHOOL THROUGH PROGRAM JOB TRAINING PARTNERSHIP /CT DEKALB TECHNICAi. INSTTTVTE TOTALS YEAR ENDED JUNE30 1 - JUNE 30, 1993 2,062,805.88 S 288,799.20 $ . s '465,716.12 5,280,810.00 S 2,101,252.15 3115,331.44 12,133,729.81 S 9,712,296.85 25,743,266.35 24,851,417.05 13,820,153.62 13,632,497.25 &1,346.38 $ 23,433.95 $ 2 062,805.88 S 2ll8 799.20 $ '465,716.12$ 10,497183.56 $ 51,687,149.78 S 47 !l86.210.95 s &1,120.n 225.86 64,346.38 $ 0.00 $ 0.00 S 0.00 0.00 $ 23,433.95 S 1,744,224.06 S 312,263.13 6,318.50 23,433.95 $ 0.00 $ 2,062,805.68 $ 0.00 S 201,508.87 S 98,290.23 2ll8 799.20 $ 0.00 $ 413,488.57 S 12,268,544.56 S 25,884,918.92 $ 2,ns,746.71 22,075.88 25,750.86 4,400.00 860,301.42 164,844.58 112,910.54 215,1182.68 1,232,1107.33 74,943.46 254,411.81 28,965.84 2,483,065.24 228,229.61 785,538.16 137,481.78 208,373.45 215,982.88 1,282,167.98 218,557.12 254,411.81 22,223,423.58 2,464,834.00 28,965.84 2,532,882.85 22-4~18.45 161,220.21 114,384.91 210,371.80 1182,846.88 178,1166.88 476,674.56 22,775,478.08 545,953.81 252 762.57 '465,716.12$ 15,213,622.03 S 58,436,980.98 S 53,192,627.14 0.00 $ -4,716,628.44 $ -4,739,831.20 $ -5,195,416.19 0.00 S 0.00 0.00 $ 0.00 0.00 $ 0.00 6,294,887.31 $ 6,707,525.28 S -2,309 005.31 2,309,005.31 3,985 882.00 S 4,398 519.97 $ 5,-.476.87 -300000.00 5156,476.87 0.00 $ 0.00 -730,946.44 $ 1,742,883.82 -341,311.23 $ 5,149,194.27 21,089.71 -36,938.32 5,135,641.82 50491.77 0.00 S 0.00 S 0.00 $ 0.00 S 1,011,737.38 S 4,828,982.75 $ 5,149,194.27 - 29- DEKAl BCOUNJY BOARD OF FPYCATJQN QOMBINING BALANCE SHEEI CAPITAi PROJECTS FUND JUNF30 1994 ~ Cash and Cash Equivalents Investments Accounts Receivable Notes Receivable Total Assets LIAl;;HLIIIE ANl2 FYNP EQ!J!IY ~ Cash Overdraft Accounts Payable Contracts Payable Retainages Payable Total Liabilities FYNPEQUIIY Fund Balances Reserved For Arbitrage Rebate Tax For F-ral Capital Outlay For Purposes of Bond IS$UO For State Capital Outlay Projeds Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity REGULAR 1989 BOND ISSUE FUND 1993-A BOND ISSUE FUND PROJECTS AB6-644--032/ A88-644-004 $ 237,481.38 14,701,-.90 $ 5,029,000.00 S 43,551,955.38 56,567.07 958,195.75 283000.00 15.041 066.97 $ 5 029.000.00 S 44510151.13 $ 237.481.39 $ 143,549.47 $ 1,405,681.09 $ 31,255,816.71 175,900.00 374,294.88 346,239.93 70024.42 42170.38 $ 587 868.77 $ 1 581 581.09 $ 31 844 227.00 3,447,418.91 3,447,418.91 12,865,924.13 s 12,865,924.13 $ 237481.39 237,481.39 14 453 198.20 0.00 0.00 14 453198.20 S 3 447 418.91 $ 12865924.13 $ 0.00 237481.39 15 041 066.97 $ 5 029.000.00 S 44510151.13 $ 237 481.39 See notes to the general purpose financial statements. .30. EXHIBIT"G" GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECT 644-002 PROJECT 91-644-018 PROJECT 93/92~ PROJECT 95/94S-644-018 INSTITUTIONAL CONSERVATION PROGRAM TOTALS JUNE 30 1994 JUNE 30 1993 0.00 $ 13,862,184.24 $ 12,269,626.13 $ 6,742,955.80 $ 386,506.93 $ 33,498,754.49 $ 530,582.89 63,282,455.28 9,605,570.76 1,014,762.82 301,849.33 283000.00 283000.00 0.00 $ 13 862 184.24 $ 12 269 626.13 $ 6,742,955.80 $ 386 506.93 $ 98 078 972.59 $ 10720802.98 $ 89,843.79 $ 8199.56 98043.35 $ 48,430.34 $ 5122.48 53552.82 $ 79,238.70 9954.30 89193.00 $ 32,805,047.27 175,900.00 $ 938,047.84 135471.12 $ 34 054 466.03 $ 237.00 33,430.00 2 487.50 36134.50 $ 13 784 140.89 $ 13,784,140.89 $ 12 216 073.31 s 12,216,073.31 $ 6653762.80 6,653,762.80 $ 0.00 0.00 0.00 $ 13 784 140.89 $ 0.00 12 216 073.31 $ 0.00 6 653 762.80 $ 0.00 $ 13,862,184.24 $ 12,269,626.13 $ 6,742,955.80 $ 386,506.93 S s 386,506.93 16,313,343.04 32 871 458.39 386,522.80 436,219.26 5,230,180.20 2262126.52 386,506.93 S 49,571,308.36 $ 8,295,048.78 0.00 14 453 198.20 2389619.70 386506.93 S 84 024 506.56 $ 10 684 668.48 386,506.93 S 98,078,972.59 $ 10 720 802.98 -31- DEKALB CQIJNIY RQARP OF CPUCATION COMBINING SWCMCNI OE REVENUES EXPENDITURES ANP CHANGES IN EIINP RALANCCS CAPITAL PROJECTS FUND YEAR ENDED JUNE 30 1A94 ~ Federal Funds Local and Other Funds Total Revenues EXPENDITURES Current Support SalVices Business Administration Bond Issuance Cost Capital Outlay Land and Land Improvements Building and Building Improvements Equipment Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SOURCES (IJSES) Proceeds from General Obligation Bonds Par Value Premium on Bonds Sold Operating Transfers In Operating Transfers OUt Total Other Financing Sources (Uses) Excess of Ravenuas and Other Financing Sources over (under) Expenditures and Other F"manc:ing Uses FUND RAIANCE JULY 1 Adjustments Residual Equity Transfer FUND BAI ANCE JUNE 30 REGULAR 1989 BOND ISSUE FUND 1993-A BOND ISSUE FUND PROJECTS A86-644-032/ A88-644--004 321111.82 $ 321111.82 $ $ 0.00 200129.28 $ _ __,1.,972=2=:85=.29,:. 200129.28 $ 1 9n 285.29 $ _ _ _ _~0~.00~ $ 1,3n,313.96 290n.oo 1 401 385.96 $ $ -1 080274.14 $ $ 230,667.43 2,109,784.94 8961.00 2 349 413.37 $ -2 149 284.09 $ 409,065.15 500.00 1,657,913.-46 $ 4033 823.51 6101 302.12 $ -4 129 016.83 $ 7,241.41 7241.41 -7241.41 14,792,050.00 $ 14 792 050.00 52,660,000.00 1,083,837.30 $ -38 701 463.00 15 042 374.30 $ $ 13,711,775.86 $ 437,053.04 -2,149.284.09 $ 5,596,703.00 10,913,357.47 $ 1,952,566.66 304 369.30 201,463.00 201463.00 194,221.59 43,259.80 $ 14,453198.20 $ 3 447 418.91 $ 12,865,924.13 $ 237 481.39 See notes to the general purpose financial statements. -32- EXHIBIT"H" GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECT 644-002 PROJECT 91-&14-018 PROJECT 93/92~ PROJECT 95/948-&14-018 INSTITUTIONAL CONSERVATION PROGRAM TOTALS YEAR ENDED JUNE30 1994 JUNE30 1993 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 98.254.00 $ 98254.00 $ 98,254.00 2"'93526.39 $ 2 592 780.39 $ 829831.13 829831.13 0.00 $ 175,863.53 $ 0.00 $ 0.00 $ 175863.53 $ -175 863.53 $ 258,419.69 $ 258419.69 $ -258 419.69 $ 346,237.20 $ 346237.20 $ -346 237.20 $ $ 148,966.33 148966.33 $ -49 712.33 $ ,409,065.15 231,167."'3 $ 6,076,740.52 4071856.51 10 788 829.61 $ -8196 049.22 $ 1 1,150.70 2,266,183.93 7385518.65 9792 833.28 -8 983 002.15 $ 13,500,000.00 $ 11,000,000.00 $ 7,000,000.00 13 500 000.00 $ 11 000 000.00 $ $ 0.00 $ 13,32 ,1311.47 S s 10,7 1,580.31 30,369.30 0,004.2 1,74,"'93.00 7000000.00 6,653,762.80 $ 0.00 -304369.30 52,660,000.00 1,083,837.30 46,"'93,513.00 $ -38 701 483.00 $ 61 535 887.30 $ 3,017,404.00 -17404.00 3000000.00 -49,712.33 S 53,339,838.08 S ~.983,002.15 36,219.26 10,684,698.48 16,647,670.83 0.00 $ 0.00 $ 13 764140.69 $ 12 216 073.31 $ 6,653 762.80 $ 386506.93 $ 64 024 506.56 $ 10 684 698.48 -33- DEKALB COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET FIDUCIARY FUND TYPES JUNE 30 1994 ASSETS Cash and Cash Equivalents Investments EXPENDABLE TRUST FUNDS SELF-INSURED EMPLOYEE BENEFIT FUND DENTAL EMPLOYEE'S HEALTH RESERVE ALTERNATIVE SELF-INSURANCE FUND BENEFIT FUND TRUST FUND $ 0.00 $ 936,493.46 $ 509,900.89 1,900,000.00 Total Assets $ 0.00 $ 936,493.46 $ 2,409,900.89 LIABll,ITl!;;S AND FUND EQUITY !.IAl;!ILITIES Cash Overdraft Accounts Payable Funds Held for Others $ 189,327.82 $ Total Liabilities $ 189,327.82 $ FUND EQUITY Fund Balances Unreserved Deficit Undesignated $ -189,327.82 0.00 $ Total Fund Equity $ -189,327.82 $ 273,584.91 273,584.91 662,908.55 $ 662,908.55 $ 2,409,900.89 2,409,900.89 Total Liabilities and Fund Equity $ 0.00 $ 936,493.46 $ 2,409,900.89 See notes to the general purpose financial statements. -34- EXHIBIT"!" AGENCY FUNDS TOTALS JUNE 30, 1994 JUNE 30, 1993 $ 86,297.95 $ 1,532,692.30 $ 567,826.28 1,900,000.00 2,797,125.33 $===,;;;86~,2:.;9;,;,7;;;;.9.;;.5 $ 3,432,692.30 $ 3,364,951.61 $ 189,327.82 273,584.91 $ 248,151.12 $ 86,297.95 86,297.95 188,797.18 $ 86,297.95 $ 549,210.68 $ 436,948.30 $ -189,327.82 $ _ _ _ _--=0.:.:.0:::.0 3,072,809.44 $ 2,928,003.31 $ _ _ _ _--=0.:.:.00:::. $ 2,883,481.62 $ 2,928,003.31 $===,;;;86~,2:.;9;,;,7;;;;.9:;;,5 $ 3,432,692.30 $ 3,364,951.61 -35- DEKALB COUNTY RQARP OF EDUCATION COMBINING STATEMENT OF REVENUES EXPENP1IUBES ANP CHANGES IN FUNP BA.LANCES FIPUCIARY FUND JYPE EXPENDABLE TRUST FUNDS YEAR ENPEP JUNE 30 1994 EXHIBIT"J" ~ Local and Other Funds EXPENDITURES CulTOlll SupportSeNices Other Support Services Excess of Revenues over (under) Expenditures FYNP BALANCE JULY 1 SELF-INSURED EMPLOYEE BENEFIT FUNDS DENTAL RESERVE EMPLOYEE'S ALTERNATIVE HEALTH SELF-INSURANCE FUND BENEFIT FUND TRUST FUND TOTALS YEAR ENDED JUNE 30 1994 JUNE 30 1993 1 568 918.99 $ 23 157 742.oro 84.0411 Dwight D. E - National Program for Malhomatics and Sc:lonce Education 1993 Conlrac:t 84.168 12269.00 $ 87,28.15 518,993.00 26,424.00 729.00 $ 6,118.00 90,042.00 377,216:00 24,222.00 12,269.00 $ 87,28.15 518,993.00 26,424.00 12,27027 (3) 87,28.15 583,6811.96 (3) 71,895.85 (3) 47857.41 42 778JJ6 42778.08 Tolol U.S. Doportmont al Education $ 1383464.3 $ 12792670.17 $ 127896116.30 $ 12978833.58 Energy, U.S. Dopo.- ol Through Ollic-2-14-13-088 Through Georgie o . i - r - o t T - 1 and Adult Education Job Trining P a - i p Id OS-3-13-13-088 15-3-13-a-089 15-3-13-13-089 81.052 $ 83.021 83.021 83.576 83.576 83.576 83.025 17.250 17.250 17.250 17250 17.250 17250 89.254.00 $ 8925.00 $ 89.254.00 $ 148 986.33 (3) $ 152,186.00 160,129.00 24,833.3 111,862.20 $ 138,767.08 $ 7,822.52 87,423.58 89,745.89 -500.20 5 ,328.89 128,482.-4() 155,485.88 (3) 58,823.80 (3) 114,863.5 96750.00 9068828 85986.18 133858.05 (3) -4()9 045.00 $ _ _02=~47=5~.71~ $ _ _>=7~0=6.1=3 $ _ _~83=.03=1=27'-- 28,310.00 131,891.00 26,000.00 521.77 1 ,88.12 5,158.77 21,869.61 $ 97,8.78 11,034.17 23,126.00 $ 118,152.83 16,367.4 27,028.82 (3) 128,735.58 (3) 28,989.83 (3) - 42 - C!la!S&.& COUNTY ~ t i QE E~I!QH &i:EC!JLf; QE EEQEB~ ~ MlTANCE YEABENQEPJllN3Q 1994 SCHEDULE "1" FUNDING AGENCY PBOGRAU/GBANT Labor, u. s. Depar1menl of Through DeKalb County Privlle Industry Council Job Training Partnership kt cnc:t No. 91-5515 cnc:t No. 92.sn1 cnc:t No. 92-5764 cnc:t No. 93-5880 cnc:t No. 93-5881 cnc:t No. 93-5882 cnc:t No.~ cnc:t No. !M-l14 cnc:t No. cnc:t No. !M-)92 cnc:t No. - Toial U.S. Depar1menl of Labor CFDA NUMBER AWAADS INPERIOD FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS) FEDERAL REVENUE INPERIOD EXPENDITURES INPERIOD " 17.250 " 17250 17.250 17.250 17250 17,250 17250 17250 17,250 17250 17250 130,374.00 445,7,40,00 60,027.00 368,TT1.00 65362.00 1 258 475.00 $ -21,85725 $ 120,548.02 22,329.51 220,097.91 81,902."8 -46,046.33 TT,77533 114,4"8.13 812.219.69 $ -21,85725 3,998.36 216,327.91 $ 79,,401.64 44,354.85 108,356.13 364,410.17 4,428.82 5,957.00 6889.87 999913.67 $ 216,327.91 79,,401.SI 41,354.85 108,356.13 346,75322 4,428.82 5,957.00 6@.87 995.223.68 ~ R EEQE;B& i!iU~T~ Defense, u. s. Dopa,tmentof Direct ~oflhol>JrF""' R.O.T.C. Progn,m 1894Grant Dopa,tment of lho Navy R.O.T.C. Progn,m 1894G- Tolol Olhor Federal-nee -46,586.60 $ -46,586.60 $ -46,586.80 () 138876.60 138876.60 138876.60 () 185463,,40 $ 185463.,40 $ 185463,,40 Tdal Federal FINll10iol-nce $ 28 678 678.94 $ 25 488 486.78 $ 27~75158.61 36 808 578.43 RECONCILIATION Of EEQEBNz FJNANCIAJ AS!STANCE TO FEDERAL fLJNQS F- Tdal F - Financiol- R-,..,. in Period ~-) Loss: Fiduciary Fund Types - Federal Funds (Nol Ropo,tod as Revwn- in System's F - Geneqf Purpooe S-) PeU Grant &Jpplemental Education Opportunity Grant 27,275,158.61 688,060.00 5,4.33,425 743 36425 Tdal F-.al R....,. (porGenorol Purpose F-S--.t) Major Prognims.,. ldonlifiod by 11n IISllerisk M In front oflho CFDA number. (1) The """""1ls si-, for lho Food Distribution Program represerds lho Federally assigned wlue of - r y _ , , . . lor dcx1alad commod- l'8CeMld and/or consumed bylho systam during lho current fiscal year. (2) Expenditures for lho Sohool Brukfast Program and lho Child and Adult C... Food Program - . not meintained separately and are Included in lho 1994 National School Lunc:h Program. (3) E,cpendiluros for lhis prcgram inc:lucle stats, and/or Local and Other Funds. E,cpenditur. . are not maintained by fund source. (-4) Expenditures on this program went not maintained by fund source. (5) Funds eanned on lhis program do not require reponing of expenditures. See ndas to lho general purpose financial statements. - 43 - $ 26 531 764.36 DEKALB COUNTY BOARD OF EDUCATION ANALYSIS OF CASH AND CASH ECOUIVALENTS JUNE 30 1994 SCHEDULE "Z' NONINTEREST BEARING ACCOUNTS Bank South, N. A., Atlanta, Georgia First Union National Bank of Georgia, Atlanta, Georgia NationsBank of Georgia, N. A., Atlanta, Georgia SouthTrust Bank of Georgia, N. A., Atlanta, Georgia Trust Company Bank, Atlanta, Georgia Wachovia Bank of Georgia, N. A., Atlanta, Georgia INTEREST BEARING ACCOUNTS Citizens Trust Bank, Atlanta, Georgia Certificate of Depoeit No. 12040739 (3.00%) Fidelity National Bank, Atlanta, Georgia Certificate of bepoeit No. 1000042 (3.50%) First Southern Bank, Atlanta, Georgia Certificates of Depoeit No. 001253 (3.30%) No. 001418 (3.60%) No. 001423 (3.60%) NationsBank of Georgia, N. A., Atlanta, Georgia Commercial Interest Checking (1.95%) OTHER Petty Cash $ 953,250.33 891,925.76 -4,514,734.23 904,129.90 -923,577 .43 1,905,033.72 $ -783,971.95 $ 5,000,000.00 5,000,000.00 500,000.00 500,000.00 1,500,000.00 154,430.40 12,654,430.40 108,850.10 $ 11 979 308.55 See notes to the general purpose financial statements. - 44 - DEKALB COUNTY BOARD OF EDUCATION INVESTMENTS JUNE30 1994 SCHEDULE"3" U.S. GOVERNMENT OBLIGATIONS Bank South, N. A., Atlanta, Georgia Federal Home Loan Mortgage Corporation Bond due November 30, 1994 (5.45%) First Union National Bank of Georgia, Atlanta, Georgia Federal National Mortgage Association Note due August 4, 1994 (4.16%) Federal National Mortgage Association Note due August 4, 1994 (4.16%) NationsBank of Georgia, N. A., Atlanta, Georgia U.S. Treasury Note due August 31, 1995 (3.S8%) Trust Company Bank, Atlanta, Georgia U.S. Treasury Note due November 15, 1994 (5.23%) REPURCHASE AGREEMENT Bank South, N. A., Atlanta, Georgia Federal Home Loan Mortgage Corporation Note due July 8, 1994 (4.25%) Federal National Mortgage Association Note due July 8, 1994 (4.25%) Federal National Mortgage Association Note due July 8, 1994 (4.25%) Federal National Mortgage Association Note due July 8, 1994 (4.35%) Government National Mortgage Association Note due July 1, 1994 (3.38%) U. S. Treasury Bond due July 1, 1994 (4.31 %) U.S. Treasury Note due July 8, 1994 (4.25%) U.S. Treasury Note due July 8, 1994 (4.25%) U.S. Treasury Note due July 8, 1994 (4.25%) SouthTrust Bank of Georgia, N. A., Atlanta, Georgia Federal Home Loan Mortgage Corporation Note due July 8, 1994 (4.30%) Federal Home Loan Mortgage Corporation Note due July 15, 1994 (4.25%) Federal National Mortgage Association Note due December 29, 1994 (4.80%) 853,950.00 $ 8,001,499.90 11,003,298.69 1g,004,798.59 27,298,656.69 8,199,775.08 $ 6,700,000.00 3,480,000.00 379,000.00 10,700,000.00 15,000,000.00 15,000,000.00 4,650,000.00 5,250,000.00 1,900,000.00 63,059,000.00 $ 4,500,000.00 5,500,000.00 1,650,000.00 11,650,000.00 $ 130,066,180.36 See notes to the general purpose financial statements. - 45 - DEKALB COlJNJY BOARD OE EDUCATION ACCOlJNTS RECEIVABLE JUNE30 1994 SCHEDULE"~ GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND DEBT SERVICE FUND TOTAL City and C o u n t y ~ -.Tax $ 418,979.05 $ 418,979.05 Decatur, City of, Board of Education Tuition for Decatur Sludenls enrolled II DeKalb County Board of Education _12,784.19 12,784.19 DeKalb County Private Industry Council Job Training Parlnorshlp Act $ 327,817.53 327,817.53 DeKalb County Tax Commissioner County VI/Ide Bond Tax County Wide School Tax 1,850,092.88 $ 87,189.86 87,189.86 1,850,092.88 Education, Georgia Department of F-Services School Breakfast Program National School Lunch Program Child 1111d Adult care F - Program Vocllianll Education S..Fundo F-Fundo BNicGrant Tec:IH'rep Education Other - Programs Georgia LNming Resources System TIiie VI, D Severely Emctionally Disturbed TIiie VI, B l.ollery Programs - Center and Libraly Equipment Safe Schools Grant Federal Programs Drug,-Frwe Schools and Communities Act ESEA - Chapter I Education of Children In State Schools Education of Deprived Children ESEA - TIiie II E--andScience Educllian For91gr, Language Assistance Emergency Immigrant Education Assistance lndMduals with Disabilities Education Act TIiie VI, B Flaw Through PreochoolProgram - B. McKinney Homeless Assistance Act 1"'8,297.16 391,478.38 30,014.02 43,869.38 457,605.52 3n.24 850.00 165,043.38 4"'8,241.-46 22,509.80 32,on.24 6,007.43 730,494.18 135,088.78 24,888.-40 168.53 394,455.69 55,158.07 433.SIS 43,869.38 457,605.52 3n.24 1"'8,297.16 391,478.38 30,014.02 850.00 165,043.38 4"'8,241."'8 22,509.80 32,on.24 6,007.43 730,494.18 135,088.78 24,888.40 168.53 394,455.69 55,158.07 433.SIS Contracts -Fund& I ~o f ~ Elementary School Fon,ign Lang._ Model Program Provide Teacher Manual and Student Taxis ID I Privllle Non-Prolil Hospital that serves Children with Long-Tenn IUness 38,724.42 2,500.00 38,724.42 2,500.00 -"'8- DEKALB COUNIY BOARD Of EDUCATION ACCOUNTS RECEIVABl E JLJNE30 1994 SCHEDULE "4" Ecklcalion, U.S. llepartment of Drug-Free~ and Communities School Ponionnel Training H.._, Reoources, Georgia Deportment of Job OpportuniliN and Buie Skills Training Refugee and Enlnlnl - Melropolilan Regional Educational Service Ager,;y For Salaries National Board for P r o f - Teaclling Standards Field Test -Contract National Evaluation Systems, Incorporated TNCher Certif- Program Technicol and Adult Education, Georgia llepartment of Job Training Partnorahip Ad. Quick start Program Vocational Education - Federll Funds Various Source& Commodity Rebate I-Earned a-payment of Various Em~ Wllhholding Accounta R ~ , SUpply and TUilicn Fees --Snapfinger E-,Y-R - for ~ SUmmor School Lunch Accounta Luncha Vendor a-payment GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND DEBT SERVICE FUND TOTAL $ 14,025.15 26,904.86 28,736.71 $ 4,333.33 24,182.26 3,850.00 $ 14,025.15 26,904.86 28,736.71 4,333.33 24,182.26 3,850.00 27,247.71 490.00 155,519.00 27;.l.47.71 490.00 155,519.00 1,390,762.93 1,515.62 250.00 609.04 $ 1,014,762.82 $ 186,300.78 99,464.78 609.04 2,591,826.53 1,515.62 99,464.78 250.00 12.09 73,946.36 38,936.30 190.95 73,946.36 38,936.30 203.04 $ 4 315 276.33 $ 3 313 255.44 $ 1 014 762.82 $ 273 490.64 $ 8.916 785.23 See notes to the genen,I purpoee financial statements. - 47 - DEKALB COUNTY BOARD OF EDUCATION NOTE RECEIVABLE JUNE 30 1994 Sale of School Assets Yeshiva High School, Incorporated SCHEDULE 5 GOVERNMENTAL FUND TYPE CAPITAL PROJECTS FUND $ ~==.;;2;;,;83.i;,0:;.0;.;;,0;;:;.0=0 See notes to the general purpose financial statements. -49- DEKALB COUNIY BOARD OE EDUCATION DEBT SEBYlCE BEOU!BEMFNIS TO MATURITY JUNE30 1994 PAYMENTS DUE IN FISCAL YEAR ENQING JUNE 30 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 TOTAL DEBT SERVICE TOTAL INTEREST TOTAL PRINCIPAL $ 12,949,718.75 $ 12,905,087.50 13,169,025.00 13,476,093.13 8,363,598.75 5,844,718.75 $ 5,520,087.50 5,179,025.00 4,791,093.13 4,368,598.75 7,105,000.00 7,385,000.00 7,990,000.00 8,685,000.00 3,995,000.00 8,494,643.75 8,875,330.63 8,930,611.26 9,050,016.26 9,102,687.51 4,189,643.75 3,985,330.63 3,755,611.26 3,505,016.26 3,232,687.51 4,305,000.00 4,890,000.00 5,175,000.00 5,545,000.00 5,870,000.00 9,202,546.26 9,330,405.01 9,457,080.63 9,574,702.50 9,727,052.50 2,937,546.26 2,615,405.01 2,262,080.63 1,874,702.50 1,452,052.50 6,265,000.00 6,715,000.00 7,195,000.00 7,700,000.00 8,275,000.00 9,845,642.50 9,224,010.00 2944218.75 965,642.50 439,010.00 89218.75 8,880,000.00 8,785,000.00 2855000.00 $ 174622470.69 $ 57007470.69 $ 117615000.00 CHANGES IN GENERAi LONr-IERM PFBT Bonds Payable at July 1, 1993 Bonds Issued During Period Bonds Retired During Period TOTAL 1993-A=ISSUE $ 70,500,000.00 $ 0.00 52,660,000.00 52,660,000.00 5545000.00 Bonds Payable at June 30, 1994 $ 117 615 000.00 $ 52 660 000.00 MATURITY DATES Semi-Annual Interest Payment Dates Annual Debi Retirement Date JAN 1-JUL 1 JULI See notes to the general purpose financial statements. 50. SCHEOULE"6" 1993-A ISSUE INTEREST PRINCIPAL 19931SSUE INTEREST PRINCIPAL 19921SSUE INTEREST PRINCIPAL $ 2,615,075.00 $ 825,000.00 $ 2,173,172.50 $ 650,000.00 $ 1,056,471.25 $ 5,630,000.00 2,585,267.50 1,090,000.00 2,140,360.00 1,355,000.00 794,460.00 4,940,000.00 2,540,760.00 1,400,000.00 2,087,747.50 1,445,000.00 550,517.50 5,145,000.00 2,483,700.00 1,580,000.00 2,023,252.50 1,695,000.00 284,140.63 5,410,000.00 2,414,760.00 1,860,000.00 1,947,388.75 1,895,000.00 6,450.00 240,000.00 2,329,m.75 2,226,707.50 2,109,410.00 1,980,127.50 1,838,811.25 2,205,000.00 2,555,000.00 2,715,000.00 2,965,000.00 3,145,000.00 1,859,870.00 1,758,623.13 1,646,201.26 1,524,888.76 1,393,876.26 2,100,000.00 2,335,000.00 2,460,000.00 2,580,000.00 2,725,000.00 1,686,127.50 1,518,658.75 1,334,227.50 1,131,652.50 909,832.50 3,350,000.00 3,625,000.00 3,900,000.00 4,200,000.00 4,540,000.00 1,251,418.76 1,096,746.26 927,853.13 743,050.00 542,220.00 2,915,000.00 3,090,000.00 3,295,000.00 3,500,000.00 3,735,000.00 626,562.50 318,750.00 89218.75 5,360,000.00 4,490,000.00 2855000.00 339,080.00 120,260.00 3,520,000.00 4,295,000.00 $ 30 739 422.50 $ 52 860 000.00 $ 23 576 008.81 $ 43 590 000.00 $ 2 692 039.38 $ 21 365 000.00 1993 ISSUE 1992 ISSUE $ 43,590,000.00 $ 26,910,000.00 5545000.00 $ 43 590 000.00 $ 21 365 000.00 JAN 1-JUL 1 JUL 1 JAN 1-JUL 1 JUL 1 51 PsKJ.1.8 CQlto:Y RQARP OF EQUCADQN SCHEDULE OF STATE BEVFNUE YEAR ENQEP JUNE 3Q 1994 SCHEDULE"7" AGENCVIFUNQING GRANTS E-.~~d QUllilyBaicE- GenoralandC._E_Prograrns SpocialE-Prognims . Romedilll E - Program Media Cenlor Programs Slalf Dowlopmont Programs Indirect Coot ---~- PupilT111-Rogulor BusR..,-.,.nt Umllod English Speaking Spocial-lAsslslance In-School Susponsion LocalFaitShare Food Servicos Voc:alional E Olhor Stale Prognims ~ Looming Rosourcos Sysmm Gcwwnor's E . . . . _ Funds (1) -T-Prograrn PrNchool Handicapped Program T--6-.iyEmotionallyllislu- Spocial E-...Supporteo.t Suponrioionand-dSludentandl!eginningT-. and Pwfommnc1 B11d Certification Tuition for._ Multi I LIi :f pped 1.-.yPrognims Compulora in Clonrooms lliantL.Mming - Cenlor and Library Equip!Mm p MAI ,Oplions ~Program ~-~-" ' Toc:hnlc:ol and Adult E-..., Quiclc Slorl Program - Technical School Oponitions CONTRACTS E-.~~d -Children- bo,ploo - o1o.i--s Elementary School Foreign~ PrOlrideT-,,.,MonualsandSluden!ToxtstoaPrivateNon-Pn>fit Hoopillll thol Long-Torm Hlness b ,piooo-o/School Basod LoodonohipllevelopmentActivilies -inR - S-chololso in the< -Fo reignSLchaonogluLaagaedAerssshisitpanlncseliftoull;at Conlerance _ , . , Pr-.g Family and Medical Laove fol;td 1993 Handbook Community-.~ Dopo-.id Locol Dowlopmont Fund Gnmt GOVERNMENTAi. FUND lYPES SPECIAL GENERAi. REVENUE FUND FUND TOTAi. 131,671~.oo 25,357;372.00 3,n1 ,562.oo 5,796,844.00 1,882,171.00 311,3,48,3117.00 $ 131,671,544.00 25,357,372.00 3,n1,562.oo 5,796,844.00 1,882,171.00 39,348,397.00 3,929,384.00 1,162,030.00 2,338,196.00 1,491,191.00 612,,4;!6.56 879,508.00 4,172,791.00 -55,452,759.00 $ 148,297.16 1,431,926.00 3,929,384.00 1,162,030.00 2,338,198.00 1,491,191.00 612,,4;!6.56 879,508.00 4,172,791.00 -55,452,759.00 1,431,926.00 148,297.16 4,000.00 50,400.00 236,695.00 63,479.00 4,807.44 787,453.00 2,508.381.00 63,479.00 8,807.44 50,400.00 787,453.00 2,506,381.00 236,695.00 15,600.00 1,203,346.81 40,949.40 15,600.00 1,203,346.81 40,9411.40 714,783.76 22,509.80 448,241.46 1,156.00 871,038.35 714,783.76 22,509.80 448,241.46 1,156.00 871,038.35 262,448.00 1,890.00 5,015,116.00 262,448.00 1,890.00 5,015,116.00 42,544.76 3,000.00 120.00 294.00 341.20 2,500.00 42,544.76 2,500.00 3,000.00 120.00 294.00 341.20 (1) The pu,pooe dlhofunds ... lo< 1994 Georgia Schools dExcellence at S"""'"- E..-,Y and Columbia High os -'1 os physical education - at Columbia High. See nolos to tho gonoral purpose financial statements. - 52 - $ 168706.257.88 $ 12133729.81 $ 180839987.70 C!EISAL~ QQ!.!HIY a26BC! QE EQU~IQH ~t:fEQULE Qf I ~~I 6HC! Qit:fl;B Bt;~N!.!E VEAR ENPEP JUNE 30 1A94 SCHEDULE "tf' GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND Taxes Bove,-Tax County Wide Bond Tax County Wide School Tax Raik'oac:ICarTax Real Estate Transfer Tax $ .-.848.95 227,986,335. 1 838.6 791,295. 5 Otho,Adminiltrative Allowance Admission Receipts Adve