(/.-;!;J,., A'f5oo ,.R\ E-2& D3 l i'.104 -95 AUDIT REPORT DEKALB COUNTY BOARD OF EDUCATION DECATUR, GEORGIA YEAR ENDED JUNE 30, 1995 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 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 COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPE - INTERNAL SERVICE FUNDS 6 E COMBINED STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPE - INTERNAL SERVICE FUNDS 7 F NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS 9 ADDITIONAL FINANCIAL INFORMATION COMBINING STATEMENTS SPECIAL REVENUE FUND G COMBINING BALANCE SHEET 26 H COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 30 CAPITAL PROJECTS FUND I COMBINING BALANCE SHEET 34 J COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES 36 K PROPRIETARY FUND TYPE - INTERNAL SERVICE FUNDS COMBINING BALANCE SHEET 38 L FIDUCIARY FUND TYPE COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS 39 DEKALB COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION I FINANCIAL ADDITIONAL FINANCIAL INFORMATION SCHEDULES 1 SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE 44 2 CASH AND CASH EQUIVALENTS 48 3 INVESTMENTS 49 4 ACCOUNTS RECEIVABLE 50 5 NOTES RECEIVABLE 53 6 DEBT SERVICE REQUIREMENTS TO MATURITY 54 SCHEDULE OF REVENUE 7 STATE 56 8 LOCAL AND OTHER 58 SCHEDULE OF EXPENDITURES BY OBJECT 9 GENERAL AND SPECIAL REVENUE FUNDS 59 10 LOTTERY PROGRAMS 60 ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS 11 OVERALL 63 12 BY PROGRAM 64 13 SCHEDULE OF COMPENSATION AND TRAVEL OF BOARD MEMBERS 66 SECTION IT COMPLIANCE COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON COMPLIANCE WITH THE GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS SINGLE AUDIT OPINION ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS SINGLE AUDIT REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAM TRANSACTIONS DEKALB COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS - SECTION III INTERNAL CONTROL REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS PERTINENT VIEWS OF RESPONSIBLE OFFICIALS SECTION I FINANCIAL CLAUDE L. VICKERS STATE AUDITOR (404) 656-2174 DEPARTMENT OF AUDITS 254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400 August 22, 1996 Honorable Zell Miller, Governor Members of the General Assembly Members of the State Board ofEducation and Superintendent and Members of the DeKalb County Board ofEducation INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARYINFORMATIONSCHEDULE OF FEDERAL FINANCIAL ASSISTANCE Ladies and Gentlemen: We have audited the general purpose :financial statements (Exhibits A through F) of the DeKalb 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. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows: 95ARL-13* * 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 ofthese 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 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 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 DeKalb County Board of Education as of June 30, 1995, and the results of its operations and the cash flows of its proprietary funds 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 August 22, 1996, on our consideration ofthe Board's internal control structure and a report dated August 22, 1996, on its compliance with laws and regulations. Our audit was conducted for the purpose offorming an opinion on the general purpose financial statements ofthe DeKalb County Board ofEducation taken as a whole. The combining statements (Exhibits G through L) and the financial schedules (Schedules 1 through 13 which includes the Schedule of Federal Financial Assistance) are presented for purposes ofadditional analysis and are not a required part ofthe general purpose financial statements of the DeKalb County Board ofEducation. 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. 95ARL-13* A copy ofthis report has been filed as a permanent record in the office of the State Auditor and made available to the press of the State, as provided for by Official Code of Georgia Annotated Section 50-6-24. Respectfully submitted, /47~~ Claude L. Vickers State Auditor CLV:cm 95ARL-13* DEKALB COUNTY BOARD OF EDUCATION - 1- DEKALB COUNTY BOARD OF EDUCATION COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUP JUNE 30, 1995 Cash and Cash Equivalents Investments Accounts Receivable Notes Receivable Inventories Amount Available in Debt Service Fund Amount to be Provided in Future Years For Payment ct. Bond Debt Compensated Absences GENERAL FUND GOVERNMENTAL FUND TYPES SPECIAL CAPITAL REVENUE PROJECTS FUND FUND $ 19,713,474.27 $ 804,707.28 $ 662,803.98 31,601,860.24 4,700,000.00 36,229,281.69 3,686,932.54 4,022,875.93 269,576.20 283,000.00 Total Assets $ 55,002,267.05 $ 9,527,583.21 $ 37,464,661.87 LIABILITIES AND FUND EQUITY LIABILITIES Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable Claims Payable Contracts Payable Retainages Payable Deferred Revenue Funds Held for Others Compensated Absences General Obligation Bonds Payable Total Llabllities FUND EQUITY Retained Earnings Reserved for Inventories Unreserved Deficit Undeslgnated Total Retained Eamings Fund Balances Reserved For Bus Replacement Funds For Continuation d Federal Programs For Debt Service For Expired Grant Balances/Questioned Costs For Federal Capital Outlay For Purposes d Bond Issue For State Capital Outlay Projects Unreserved Designated for Self-Insurance Insurance Reserve Fund Undesignated Total Fund Balances Total Fund Equity $ 7,213,999.40 $ 1,394,546.22 684,029.07 2,569,992.47 539.50 40,197.63 $ 78,431.00 3,537,732.41 1,411,437.41 $ 7,898,567.97 $ 4,083,167.32 $ 4,949,169.82 $ $ 2n,008.16 $ s 2n,008.1s 87,084.71 $ 243,667.83 9,612,123.83 20,590,198.19 87,084.71 $ 30,445,989.45 2,000,000.00 450,647.09 44,381,043.83 $ 47,103,699.08 $ $ 47,103,699.08 $ 5,357,331.18 2,069,502.60 5,444,415.89 $ 32,515,492.05 5,444,415.89 $ 32,515,492.05 Total Llabllities and Fund Equity statements The notes to the general purpose financial are an integral part d this statement. 2 $ 55,002,267.05 $ 9,527,583.21 $ 37,464,661.87 EXHIBIT"A" DEBT SERVICE FUND PROPRIETARY FUND TYPE INTERNAL SERVICE FUNDS FIDUCIARY FUND TYPE AGENCY FUNDS ACCOUNT GROUP GENERAL LONG-TERM DEBT TOTALS (Memorandum Onl~ JUNE 30, 1995 JUNE 301 1994 $ 5,788.79 $ 21,186,n4.32 s 11,979,308.55 13,986,471.21 $ 3,200,000.00 89,717,613.14 130,066,180.36 114,712.59 610,107.50 8,724,204.76 8,916,785.23 283,000.00 283,000.00 $ 225,990.32 225,990.32 220,560.09 $ 14,106,972.59 14,106,972.59 12,734,m.19 96,403,027.41 7,105,630.51 96,403,027.41 7,105,630.51 104,880,222.21 5,624,420.n $ 14,106,972.59 $ 225,990.32 $ 3,810,107.50 $ 117,615,630.51 $ 237,753,213.05 $ 274,705,255.00 $ 69,900.53 $ 369,326.80 $ 439,227.33 4,240.48 8,612,786.10 $ 8,640,536.44 2,499.20 3,256,520.74 2,909,153.16 40,737.13 297,736.49 670,637.53 670,637.53 3,537,732.41 938,047.64 1,411,437.41 135,471.12 78,431.00 164,224.98 3,440,780.70 3,440,780.70 86,297.95 $ 7,105,630.51 7,105,630.51 5,624,420.n 110,510,000.00 110,510,000.00 117,615,000.00 $ s 14112n.14 3,810,107.50 $ 117,615,630.51 $ 139,103,920.86 $ 136,410,888.55 $ 225,990.32 -982,857.99 235,580.25 $ -521,287.42 $ 225,990.32 $ 220,560.09 -982,857.99 235,580.25 -189,327.82 602,191.79 $ -521,287.42 $ 633,424.06 $ 14,106,972.59 $ 14,106,972.59 0.00 $ 14,106,972.59 $ 14,106,972.59 $ -521,287.42 $ 184,470.08 $ 87,084.71 76,344.56 14,106,972.59 12,134,m.19 272,008.16 272,008.16 243,667.63 386,506.93 9,612,123.63 16,313,343.04 20,590,198.19 32,871,458.39 $ 44,912,054.91 $ 62,838,908.95 2,000,000.00 450,647.09 51,ao1,8n.e1 2,000,000.00 72,822,033.44 $ 99,170,579.61 $ 137,660,942.39 $ 98,649,292.19 $ 138,294,366.45 $ 14,106,972.59 $ 225,990.32 $ 3,810,107.50 $ 117,615,630.51 $ 237,753,213.05 $ 274,705,255.00 3 DEKALB COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES ALL GO\IERNMENTAL FUND TYPES YEAR ENDED JUNE 30 1995 EXHIBIT "B" REVENUES state Funds Federal Funds Local and other Funds Total Rewnues EXPENDITURES current Instruction Support Services Pupil Services lmprc,.-ernent cl Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation cl Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Cepital Outlay DebtSelvice Principal Interest Paying Agent Fees Total Expenditures Excess cl Re..-enues DYl!I' (under) Expenditures QTHER EINANCING SQURCES (USES} Accrued Interest on Bonds Sold Proceeds from General Obligation Bonds Par Value Premium on Bonds Sold Operating Transfers In Operating Transfers out Total Other Financing Sources (Uses) Excess cl Re..-enues and other Financing Sources CNer (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1 GENERAL FUND SPECIAL REVENUE FUND CAPITAL PROJECTS FUND DEBT SERVICE FUND TOTALS (Memorandum On!ll YEAR ENDED JUNE 30, 1995 JUNE 30, 1994 $ 183,182,924.44 $ 16,790,643.17 1,098,797.30 27,299,927.51 244,292,739.06 12,861,042.72 $ $ 199,973,567.61 $ 180,839,987.70 28,398,724.81 26,531,764.36 1,643,202.18 $ 14,327,785.62 273,124,769.58 292,161,767.60 $ 428,574,460.80 $ 56,951,613.40 $ 1,643,202.18 $ 14,327,785.62 $ 501,497,062.00 $ 499,533,519.66 $ 298,136,678.85 $ 30,896,208.01 $ 329,032,886.86 $ 301,507,183.94 16,135,407.36 2,615,336.66 18,750,744.02 17,216,766.26 2,769,564.90 10,883,839.08 1,995,894.29 23,422,475.79 3,m,841.64 135,455.88 211,371.78 140,166.37 237,026.49 22,328.52 2,905,020.78 11,095,210.86 2,136,060.66 23,659,502.28 3,800,170.16 2,933,378.31 11,270,156.25 2,139,982.18 22,812,985.59 4,341,749.93 38,271,393.75 20,937,924.97 8,658,571.22 39,144.98 139,194.55 136,319.71 1,976,n5.84 228,558.08 256,4n.53 23,542,022.31 647,121.12 37,122.00 S 38,052,216.69 40,248,169.59 21,166,483.05 8,915,048.75 39,144.98 23,681,216.86 647,121.12 38,225,658.40 39,540,586.22 18,116,041.05 10,650,324.08 26,439,833.05 22,354,670.75 674,966.44 10,573,497.74 $ 7,105,000.00 5,844,718.75 5,872.07 7,105,000.00 5,844,718.75 5872.07 5,545,000.00 4,393,458.54 4889.81 $ 425,304,251.09 $ 60,945,970.59 $ 38,052,216.69 $ 12,955,590.82 $ 537,258,029.19 $ 500,515,470.14 $ 3,270,209.71 $ -3,994,357.19 S -36,409,014.51 $ 1,372,194.80 $ -35,760,967.19 $ -981,950.48 $ 5,432,542.21 $ 4,900,000.00 $ -10,332,542.21 $ -10,332,542.21 $ 5,432,542.21 $ 4,900,000.00 $ 218,885.42 $ 10,332,542.21 -10,332,542.21 52,660,000.00 1,083,837.30 26,190,569.97 -26, 190,569.97 $ 0.00 S 53,962,722.72 $ -7,062,332.50 $ 1,438,185.02 $ -31,509,014.51 $ 1,372,194.80 $ -35,760,967.19 $ 52,980,n2.24 54,166,031.58 4,006,230.87 64,024,506.56 12,134,m.19 134,931,546.80 84,490,842.33 FUNQ ~LANCE JUNE 30 $ 4711031699.08 $ 514441415.89 $ 3215151492.05 $ 1411061972.59 $ 9911701579.61 $ 13714711614.57 The notes to the general purpose financial statements are an integral part cl this statement. -4- DE!SALB CQUNIY BQABC QE EQUQAIIQN IAIEMENI QE BEYENU!,;S E~Pl;;NQIIUBES AND QHAN~ES IN EUNQ BALANCES BUDGET AND ACTUAL - lNON-GAAP BASIS} QENERAL ANC seEC!AL Bi;;VENUE EUNDS YEAB ENDED JUN!; 30 1995 EXHIBITc GENERAL FUND ACTUAL (BUDGET BUDGET BASIS} BEYENUES State Funds Federal Funds Local and Other Funds Total Revenues $ 183,306,503.00 $ 183,182,924.44 33,000.00 1,098,797.30 239.555,497.00 244.292z739.06 $ 422,895,000.00 $ 428,574,460.80 exeENDITUBES Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Enterprise Operations Capital Outlay $ 301,253,875.00 $ 298,136,678.85 16,194,068.00 2,819,385.00 11,207,445.00 2,021,760.00 23,832,309.00 3,889,007.00 41,005,101.00 18,240, 195.00 10,004,082.00 40,000.00 135,570.00 16,135,407.36 2,769,564.90 10,883,839.08 1,995,894.29 23,422,475.79 3,m,841.64 38,271,393.75 20,937,924.97 8,658,571.22 39,144.98 139,194.55 150,000.00 136,319.71 Total Expenditures Excess of Revenues over (under) Expenditures $ 430,792,797.00 $ 425,304,251.09 $ -71897,797.00 $ 3,270,209.71 OTHER EINANCING SQURCES (USES} Other Sources Other Uses Total Other Financing Sources (Uses) $ 2,105,000.00 -51472,499.00 $ -101332,542.21 $ -3,367,499.00 $ -10,332,542.21 Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ -11,265,296.00 $ -7,062,332.50 FUND BALANCE JULY 1, 1994 51,945,539.00 54,166,031.58 SPECIAL REVENUE FUND ACTUAL (BUDGET BUDGET BASIS} $ 19,961,698.00 $ 16,790,643.17 24,557,188.00 27,299,927.51 12.4171857.00 1218611042.72 $ 561936,743.oo $ 56,951,613.40 $ 34,932,583.00 $ 30,896,208.01 2,314,918.00 40,547.00 213,535.00 155,946.00 211,638.00 40,115.00 2,127,975.00 3,355.00 306,536.00 2,615,336.66 135,455.88 211,371.78 140,166.37 237,026.49 22,328.52 1,976,n5.84 228,558.08 256,4n.53 22,550,398.00 41,000.00 23,542,022.31 647,121.12 37,122.00 $ 62,938,546.00 $ 6019451970.59 $ -6,001,803.00 $ -3,9941357.19 $ 7,264,170.00 $ 5,432,542.21 -1,8711671.00 $ 5,392,499.00 $ 5,432,542.21 $ -609,304.00 $ 1,438,185.02 7,626,315.00 4,006,230.87 FUNQ BALANCE JUNE 30, 1995 $ 40,680,243.00 $ 47,103,699.08 $ 7,017,011.00 $ 5,444,415.89 The notes to the general purpose financial statements are an integral part of this statement. -5- DEKALB COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS PROPRIETARY FUND TYPE - INTERNAL SERVICE FUNDS YEAR ENDED JUNE 30, 1995 EXHIBIT "D'' OPERATING REVENUES Group Dental Insurance Sales - Food Supplies Total Operating Revenues OPERATING EXPENSES Current Salaries Employee Benefits Travel of Employees Other Purchased Services Supplies Energy Group Dental Claims Group Dental Claims Processing Fees Total Operating Expenses Operating Income (Loss) NONOPERATING REVENUE Interest Earned Total Income (Loss) RETAINED EARNINGS JULY 1 (Restated - See Note 1) Inventory - Net Change in Period DENTAL RESERVE FUND WAREHOUSE SERVICE FUND TOTAL $ 2,396,416.90 $ 2,396,416.90 $ 1,485,819.89 1,485,819.89 $ 2,396,416.90 $ 1,485,819.89 $ 3,882,236.79 $ $ 2,954,320.03 235,627.04 170,585.79 $ 39,299.46 1,422.22 220,720.49 1,415,075.88 8,424.00 170,585.79 39,299.46 1,422.22 220,720.49 1,415,075.88 8,424.00 2,954,320.03 235,627.04 $ 3,189,947.07 $ 1,855,527.84 $ 5,045,474.91 $ -793,530.17 $ -369,707.95 $ -1, 163,238.12 3,096.41 3,096.41 $ -793,530.17 $ -366,611.54 $ -1,160,141.71 -189,327.82 822,751.88 633,424.06 5,430.23 5,430.23 RETAINED EARNINGS JUNE 30 $ -982,857.99 $ 461,570.57 $ -521,287.42 The notes to the general purpose financial statements are an integral part of this statement -6- DEKALB COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF CASH FLOWS PROPRIETARY FUND TYPE - INTERNAL SERVICE FUNDS YEAR ENDED JUNE 30, 1995 EXHIBIT"E" Cash Flows from Operating Activities: Cash Received from Charges for Services Cash Paid for Sales - Food Supplies Cash Paid for Dental Insurance Claims Cash Paid for Dental Insurance Fees Net Cash Provided (Used) by Operating Activities Cash Flows from Investing Activities: Interest Received on Investments Net Increase (Decrease) in Cash Cash and Cash Equivalents - July 1 (Restated - See Note 1) Cash and Cash Equivalents - June 30 DENTAL RESERVE FUND WAREHOUSE SERVICE FUND TOTAL $ 2,396,416.90 $ 1,485,819.89 $ 3,882,236.79 -1,853,622.32 -1,853,622.32 -2,283,682.50 -2,283,682.50 -235,627.04 -235,627.04 $ -122,892.64 $ -367,802.43 $ -490,695.07 $ 0.00 $ 3,096.41 $ 3,096.41 $ -122,892.64 $ -364,706.02 $ -487,598.66 -189,327.82 607,025.95 417,698.13 $ -312,220.46 $ 242,319.93 $ -69,900.53 Reconciliation of Operating Income to Net Cash Provided (Used) by Operating Activities: Operating Income (Loss) Increase in Accounts Payable Increase in Claims Payable Net Cash Provided (Used) by Operating Activities $ -793,530.17 $ -369,707.95 $ -1,163,238.12 1,905.52 1,905.52 670,637.53 - - - - - 670,637.53 $ -122,892.64 $ -367,802.43 $ -490,695.07 The notes to the general purpose financial statements are an integral part of this statement. -7- DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS JUNE 30, 1995 Note 1: 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 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 of the 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 of Decatur. 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. - 9- DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 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 ofa 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 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 ofresources for, and the payment ot: general long-term principal, interest and paying agent fees. PROPRIETARY FUND TYPE- the funds used to account for activities ofthe Board similar to those found in the private sector, where cost recovery and the determination of net income is useful or necessary for sound fiscal management. Internal service funds are a type ofproprietary fund and are used to account for. operations on a cost reimbursement basis that provide services to other funds or programs ofthe Board. INTERNAL SERVICE FUNDS Dental Reserve Fund-the internal service fund used to account for the Board's dental insurance risk financing and related activities. - 10 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Warehouse Service Fund - the internal service fund used to account for food inventories purchased by the Board for the School Food and Nutrition Program and athletics concession sales. FIDUCIARY FUND TYPE - the 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: AGENCY FUNDS - the funds 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 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 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. All proprietary funds are accounted for on a flow of economic resources measurement focus. With this measurement focus, all assets and liabilities associated with the operation ofthese funds are included on the balance sheet. Operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. The Board applies all applicable Governmental Accounting and Financial Reporting Principles in accounting and reporting for its proprietary operations. 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 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 ofthe current period. Those revenues considered susceptible to accrual are property taxes, intergovernmental grants, beverage tax and investment - 11 - DEKALB COUNTY BOARD OF EDUCATION EXIDBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 1995, a substantial number ofpersonnel 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 ofEducation 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 ofthe 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. The accrual basis of accounting, as required by generally accepted accounting principles, is utilized by proprietary funds. Under the accrual basis ofaccounting, revenues are recorded when earned and expenses are recorded at the time liabilities are incurred. Agency funds are accounted for using the modified accrual basis of accounting in recognizing assets and liabilities. RESTATEMENT OF PRIOR YEAR FUND BALANCE In prior years, the risk financing activities for the Board's Dental Reserve Fund were reported as an expendable trust fund. This fund had a deficit fund balance of$189,327.82 at June 30, 1994. For fiscal year 1995, this fund has been reported as a Proprietary Fund Type - Internal Service Fund. The fund balance at July 1, 1994 has been restated as appropriate. BUDGET The DeKalb 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 - 12 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES function/object/project/program level. Proprietary fund budgets were prepared and utilized as a management tool to assess the operations ofthe internal services funds. 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 ofthe Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budget is then submitted, in accordance with provisions ofthe Quality Basic Education Act, OCGA Section 20-2-167, to the Georgia Department ofEducation. The Board may increase or decrease the budget at any time during the year. All unexpended budget authority lapses at fiscal year-end. CASH AND CASH EQUIVALENTS COMPOSITION OF DEPOSITS Cash and cash equivalents consist of deposits (including certificates 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 ofdeposit is limited to financial institutions located within this State. INVESTMENTS COMPOSIDON 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: (1) Obligations issued by the State of Georgia or by other states, (2) Obligations issued by the United States government, (3) Obligations fully insured or guaranteed by the United States government or a United States government agency, (4) Obligations ofany corporation ofthe United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the State of Georgia, Office ofTreasury and Fiscal Services, (7) Repurchase agreements, and - 13 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (8) Obligations of other political subdivisions ofthe State of Georgia. ACCOUNTS RECEIVABLE Accounts receivable consist of grant reimbursements due from Federal, State or other grantors for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables. NOTES RECEIVABLE Notes receivable consist of a promissory note from Yeshiva High School, Incorporated for the purchase of property from the Board. The maturity date for the note is October 30, 1996, and the note is earning interest at 90/o per annum. - PROPERTY TAXES The DeKalb County Board ofCommissioners fixed the property tax levy for the 1994 tax year (calendar year) on June 14, 1994 Qevy date). Taxes were due on November 15, 1994 and could be paid in two installments on August 15, 1994 and November 15, 1994 (due dates). 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 ofGASB codification section P70.103. The DeKalb County Tax Commissioner bills and collects the property taxes for the Board ofEducation, withholds 1.90/o oftaxes collected as a fee for tax collection, and remits the balance oftaxes collected to the Board. Tax millage rates levied for the 1994 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 . I.IO mills 24.63 mills 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. The Board uses the purchase method to account for inventories of purchased foods whereby expenditures are recorded at the time ofpurchase. Such inventories are maintained as a part ofan Internal Services Fund and are equally offset with a corresponding reservation of fund balance as this amount is not available for discretionary expenditures. - 14 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 of this 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 of interfund transactions: Reimbursements ofexpenditures/expenses initially made from a fund that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. Operating transfers are recorded for all interfund transactions other than reimbursements. MEMORANDUM ONLY - TOTAL COLUMNS Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position, results of operations or cash flows in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation ofthis data. Certain reclassifications have been made to the comparative data to conform to the current year classifications. - 15 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DEFICIT FUND BALANCE The following fund reported a deficit fund balance position at June 30, 1995, which is not readily apparent on the general purpose financial statements: Fund Type/Fund Name Deficit Balance Proprietary Fund Type Internal Service Fund Dental Reserve Fund $ 982,857.99 Note 2: DEPOSITS AND INVESTMENTS COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee ofinsurance, or by collateral. The aggregate of the 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 ofthe 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 ofthe United States or of the State of Georgia, (4) Bonds, bills, notes, certificates of indebtedness or other obligations ofthe counties or municipalities of the State of Georgia, (5) Bonds ofany 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 - 16 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 2: DEPOSITS AND INVESTMENTS (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 $31,131,004.40. 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 finat1cial 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 $ 900,000.00 2 25,173,053.92 3 5,057,950.48 Total $31 131,004.40 CATEGORIZATION OF INVESTMENTS Investments are classified as to risk by the three categories described below: Category 1 - Insured or registered, or securities held by the Board or the Board's agent in the Board's name. Category 2 - Uninsured or unregistered, with securities held by the counterparty's trust department or agent in the Board's name. Category 3 - Uninsured or unregistered, with securities held by the counterparty, or by its trust department or agent but not in the Board's name. Funds invested in an investment pool managed by another government are not required to be categorized unless the investing entity owns specific, identifiable investment securities in the pool. - 17 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 2: DEPOSITS AND INVESTMENTS At June 30, 1995, the carrying amount ofthe Board's total investments was $89,717,613.14 and the market value ofthese investments was $89,717,613.14. The investments are classified as to risk categories as follows: Type ofInvestment U. S. Government Repurchase Agreements Total Risk Categories 1 2 3 Carrying Amount Market Value $ 0.00 $ 1,692,59322 $37,590,019.92 $39,282,613.14 $39,282,613.14 0.00 50,435,000.00 0.00 50,435,000.00 50,435,000.00 $ 000 $52 12:Z 523 22 $3:Z 590 012 22 $82,112 613 l~ $89 21:Z 613 l~ 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 ofthe Georgia Department ofTechnical and Adult Education used lottery proceeds to purchase $257,000.00 ofequipment for DeKalb Technical Institute during the fiscal year ended June 30, 1995. However, revenues and expenditures for these lottery proceeds are not reflected in these financial statements. Note 4: RISK MANAGEMENT The Board is exposed to various risks ofloss related to torts; theft of, damage to, and destruction ofassets; errors or omissions; job related illnesses or injuries to employees; natural disaster; unemployment compensation; and dental claims. 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 ofthe past three years. The Board has elected to self-insure for all losses related to natural disaster. The Board has not experienced any losses related to natural disaster in the past three years. The Board has established a limited risk management program for workers' compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. These losses include an estimate of claims that have been incurred but not reported. An excess coverage insurance policy covers individual claims in excess of $250,000.00 loss per occurrence, up to the statutory limit. - 18 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 4: RISK MANAGEMENT Changes in the workers' compensation claims liability during the last two fiscal years are as follows: Beginning ofYear Liability Claims and Changes in Estimates Claims Paid End of Year Liability 1994 1995 $ 0.00 $ 1,253,345.49 $ 1.253.345.49 $ 0.00 $ 0.00 $ 1.263,566.64 $ 1J63.566.64 $ 0.00 The Board is self-insured with regard to unemployment compensation claims. The Board accounts for claims within the same fund that the employee's salary and benefits were paid. Claims are accounted for with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat 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 $ 39,462.50 $ 39,462.50 $ 0.00 $ 0.00 $ 58,216.26 $ 58,216.26 $ 0.00 The Board is self-insured with regard to dental claims. The Board accounts for claims within the Proprietary Fund Type - Internal Service Fund - Dental Reserve Fund with expenditures and liability being reported when it is probable that a loss has occurred, and the amount ofthat loss can be reasonably estimated. Changes in the dental 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 $ 2,440,284.68 $ 2,440,284.68 $ 0.00 $ 0.00 $ 2,954.320.03 $ 2,954.320.03 $ 0.00 Note 5: GENERAL LONG-TERM DEBT The changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows: - 19 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 5: GENERAL LONG-TERM DEBT Compensated Absences General Obligation Bonds Total Balance July 1, 1994 $5,624,420.77 $117,615,000.00 $123,239,420.77 Additions 1,481,209.74 1,481,209.74 Deductions 7,105,000.00 7,105,000.00 Balance June 30, 1995 S 1.1QS.6JQ.Sl SI IQ,SIQ.QQQ QQ SI rz.6IS.6JQ.Sl 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 General Obligation Bonds 1996 1997 1998 1999 2000 2001 and thereafter $ 12,905,087.50 13,169,025.00 13,476,093.13 8,363,598.75 8,494,643.75 105,264,303.81 Total Principal and Interest $161.612151.94 Note 6: PRIOR YEAR DEFEASEMENT OF DEBT 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, 1995, $5?,885,000.00 of bonds are outstanding and are considered defeased. 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: - 20 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 7: SIGNIFICANT COMMITMENTS Project Unearned Executed Contracts Funding Available From State 91-644-018 93/92S-644-033 96-644-024 96-644-025 369 - Sagamore Hills Elementary 371 - Kelley Lake Elementary 373 - Druid Hills High School 375 - Lithonia High School 377 - Hawthorn Elementary 379 - Clifton Elementary 380 - Snapfinger Elementary 385 - Hooper Alexander Elementary 998 - Sexton Woods Center $ 9,935,240.13 11,165,179.97 6,657,576.72 5,955,781.67 803,672.97 641,308.68 885,008.02 425,931.90 530,858.15 7,059.00 24,629.00 12,274.50 11,939.00 $ 5,634,933.00 6,924,600.00 3,284,712.00 3,560,436.00 $37,056 459 71 $19,404,681.00 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 Full-time twelve month employees earn annual leave ranging from ten 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. - 21 - DEKALB COUNTY BOARD OF EDUCATION EXIDBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 9: ACCUMULATED EMPLOYEES' LEAVE 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. 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). 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 10 years of service and attainment of age 60. A member is eligible for early retirement after 25 years of creditable service and attainment of age 55, at a reduced benefit. Retirement benefits paid to members are equal to 2% of the average of the member's two consecutive highest paid years of service multiplied by the number of years of creditable service up to 40 years. The normal retirement pension is payable monthly for life. Options are available for distribution 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 ofemployer 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 $309,509,230.40; total payroll was $331,483,272.33. 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 ofTrustees 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%. - 22 - DEKALB COUNTY BOARD OF EDUCATION EXIIlBIT F11 11 NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note 10: RETIREMENT PLANS Total contributions made during fiscal year 1995 amounted to $52,028,501.64, of which $36,553,040.12 was made by the Board and $15,475,461.52 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll. TRS FUNDING STATUS AND PROGRESS The amount of the total pension benefit obligation is based on.a standardized measurement established by Statement No. 5 ofthe Governmental Accounting Standards Board (GASB) that, with some exceptions, must be used by a PERS. The standardized measurement is the actuarial present value of credited projected benefits. This valuation method reflects the present value of estimated pension benefits that will be paid in future years as a result of employee services performed to date, and is adjusted for the effects of projected salary increases. A standardized measure 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 ofJune 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 ofJune 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, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of $36,553,040.12 was actuarially determined and represented 6.4682% 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. - 23 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATE:MENTS JUNE 30, 1995 Note 10: RETIRE:MENT PLANS 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 ofage 65. A member applying for service retirement with 10 years of service and retires between the ages of 60 and 65 receives a reduced benefit. Monthly retirement benefits paid to members are equal to $8.00 per month multiplied by the number ofyears of creditable service. Options are available for distribution of the member's monthly pension at a reduced rate to a designated beneficiary on the member's death. Retirement provisions include death and disability benefits. Disability benefits are the same as ifthe 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 1,930 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 ofTrustees. Total contributions from employees ofthe Board made during fiscal year 1995 amounted to $64,148.00. 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. TAX SHELTERED ANNUITY PLAN (TSA) The DeKalb County Board ofEducation contributes to a Tax Sheltered Annuity {TSA), which is a defined contribution plan. The TSA was adopted in 1979 as an alternative plan retirement program to replace the retirement, survivorship, medicare and disability coverage lost when the Board elected to withdraw from the Social Security System on October 1, 1979. The plan is designed to qualify for favorable Federal income tax treatment pursuant to Section 403 (b) of the Internal Revenue Code of 1986, as amended. A defined contribution plan provides benefits in return for services rendered, provides an individual account for each participant, and specifies how the contributions to the individual's account are to be determined, instead of specifying the amount of benefits the individual is to receive. Under a defined contribution plan, the benefits a participant will receive depend solely on the amount contributed to the participants account and returns earned on investments to those contributions. As established by the TSA, all eligible employees automatically become participants in the plan upon their initial date ofemployment with the Board. An eligible employee means each individual classified as a permanent, full time (at least 30 hours per week) employee of . the School system or classified as a school bus driver. The Board makes all contributions to the plan and the - 24 - DEKALB COUNTY BOARD OF EDUCATION EXHIBIT "F" NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS JUNE 30, 1995 Note I0: RETIREMENT PLANS employee is neither required nor permitted to make participant contributions. The plan allows employees to elect the way in which contributions and accumulated account balances for their account will be invested among several investment fund options. The employees are 100 percent vested for all contributions and their account balance will not forfeit even ifemployment is terminated with the Board prior to retirement. The exact amount of contributions to this plan is determined by the Board as of each July 1, for the upcoming twelve months. This contribution applies only to compensation earned which does not exceed the taxable wage base set by the Social Security Administration for each year. The Board contributes 7.65% ofthe employee's gross earnings to various benefit plans/expenses as follows: (I) 5% to the retirement plan. (2) 11.81% ofthe 5% to the Teachers Retirement System (a pension plan explained in defined benefit section of this note). (3) The remaining amount goes into a plan designed to replace the lost survivorship, medicare and disability portion ofthe Social Security Administration. During fiscal year 1995, the Board's required and actual contributions amounted to $23,677,456.13 for the TSA Plan, which was 7.65% ofits current year covered payroll. The TSA Plan is administered by a financial institution. Note 11: SURETY BONDS Dr. Robert R. Freeman, School Superintendent through December 31, 1995, was bonded in the amount of $100,000.00 with the Hartford Fire Insurance Company, Hartford, Connecticut, their Bond No. 4638226. The School Superintendent, Dr. James R. Hallford, effective January 1, 1996, is bonded in the amount of $100,000.00 with the Hartford Fire Insurance Company, Hartford, Connecticut, their Bond No. 20 SUN 338815, on which premium has been paid through December 31, 1998. - 25 - DEKALB COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1995 ~ Cash and Cash Equivalents Investments Accounts Receivable 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 Continuation of Federal Programs Unreserved Undesignated Total Fund Equity Total Liabilities and Fund Equity SCHOOL FOOD SERVICES FUND ATHLETIC FUND GEORGIA LEARNING RESOURCES SYSTEM STATE PRESCHOOL HANDICAPPED PROGRAM SEVERELY EMOTIONALLY DISTURBED $ 116,323.63 $ 82,210.69 $ 11,803.64 $ 324,858.57 4,700,000.00 639,812.43 $ 20,807.98 1 n11 a e . s o $ 5,456,136.06 $ 82,210.69 $ 20,807.98 $ 11,803.64 $ 502,648.47 $ 517,421.20 $ 1,088,289.46 $ 70.00 14,7n.24 4,016.13 $ 1,439.61 11,803.64 $ 153,567.00 349,081.47 $ 1,605?10.66 $ 70.00 $ 20,232.98 $ 11,803.64 $ 502,648.47 $ 575.00 $ 3,850,425.40 $ 82,140.69 0.00 $ 0.00 $ 0.00 $ 3,850,425.40 $ 82,140.69 $ 575.00 $ 0.00 $ 0.00 $ 5,456,136.06 $ 82,210.69 $ 20,807.98 $ 11,803.64 $ 502,648.47 See notes to the general purpose financial statements. -26- EXHIBIT"G" Page 1 ALTERNATIVE SCHOOLS NEXT GENERATION SCHOOLS LOTTERY PROGRAMS DRUG-FREE SCHOOLS AND COMMUNITIES ACT DRUG-FREE SCHOOLS AND COMMUNITIES SCHOOL PERSONNEL TRAINING INDIVIDUALS WITH DISABILITIES EDUCATION ACT TITLE VI, B FLOW PRESCHOOL THROUGH PROGRAM $ 123,432.58 $ 147,000.00 $ 489,974.86 $ 91,066.03 $ 74,614.26 $ 575,115.88 $ 82,610.50 $ 123,432.58 $ 147,000.00 $ 489,974.86 $ 91,066.03 $ 74,614.26 $ 575,115.88 $ 82,610.50 $ 48,024.51 $ 135,090.97 $ 200,870.27 $ 18,945.95 11,909.03 141,788.89 56,462.12 147,315.70 63,107.15 $ 8,616.58 19,342.30 74,614.26 $ 223,494.12 $ 108,341.26 243,226.50 54.00 8,018.03 21,565.23 47,464.80 5,562.44 $ 123,432.58 $ 147,000.00 $ 489,974.86 $ 91,066.03 $ 74,614.26 $ 575,115.88 $ 82,610.50 s____o._oo_s _ _ _o_.oo_s _ _ _o_.oo_s ____o_.oo_s ___..;.o.-'-oo.;_s ____o..;..oo_s ___.;.o.;.;.oo~ s o.oo s_ _ _o_.oo_s _____o-'-.oo"-s _ _ _..;.o'""'".oo-'--s ___.;;.o.=oo.c..s ___..;.o=.oo.c...s ___.;.o.;.;;.oo~ $ 123,432.58 $ 147,000.00 $ 489,974.86 $ 91,066.03 $ 74,614.26 $ 575,115.88 $ 82,610.50 -27 - cash and cash Equivalents Investments Accounts Receivable Total Assets DEKALB COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET SPECIAL REVENUE FUND JUNE 30 1995 EDUCATION OF CHILDREN IN STATE SCHOOLS CHAPTER 1 EDUCATION OF DEPRIVED CHILDREN ELEMENTARY AND SECONDARY EDUCATION TITLE II EISENHOWER STATE . CHAPTER 2 MATHEMATICS PROGRAM BLOCKGRANT- AND SCIENCE IMPROVEMENT FLOW THROUGH EDUCATION $ 151,895.31 $ 14,675.02 $ 7,570.76 $ _ _ _3_,__,906_.6_7 733,846.52 $ ___9.,_,568_._oo_ s _ _ _3_,906_._6_7 s 885,741.83 $ 9,568.00 $ s_ _ _ 14,675.02 1._51_0_.16_ LIABILITTES AND FUND EQUITY LIABILmES cash Overdraft $ Accounts Payable Salaries Payable Expired Grant Balances Payable Deferred Revenue Total Liabilities $ FUND EQUITY Fund Balances Reserved For Continuation of Federal Programs Unreserved Undesignated $ Total Fund Equity $ Total Liabilities and Fund Equity $ 730.43 975.24 $ 2,201.00 $ 241,289.00 579,600.68 22,099.26 3,906.67 $ 842,988.94 $ 8,665.46 902.54 $ 9,568.00 $ 14,675.02 141675.02 $ 0.00 0.00 $ 42,752.89 0.00 $ 42,752.89 $ 0.00 $ 0.00 $ $ 0.00 0.00 $ 7,570.76 0.00 71570.76 3,906.67 $ 885,741.83 $ 9,568.00 $ 14,675.02 $ 7,570.76 See notes to the general purpose.financial statements. -28- EXHIBIT "G" Page2 ACT FOREIGN LANGUAGES ASSISTANCE EMERGENCY IMMIGRANT EDUCATION EDUCATION FOR HOMELESS CHILDREN AND YOUTH JOB TR.t\lNING PARTNERSHIP ACT DEKALB TECHNICAL INSTITUTE TOTALS JUNE 3011995 JUNE 3011994 $ 6,063.23 $ 10,280.93 $ 948,099.78 $ 1,673,781.56 $ 1,417,703.18 4,700,000.00 3,480,000.00 $ 39,994.05 $ 59,639.42 753,696.85 4,022,875.93 3,313,255.44 $ 39,994.05 $ 6,063.23 $ 10,280.93 $ 59,639.42 $ 1,701,796.63 $ 10,396,657.49 $ 8,210,958.62 $ 39,994.05 $ $ 39,994.05 $ 1,126.71 1,693.08 $ $ 10,280.93 2,819.79 $ 10,280.93 $ 51,687.79 3,094.83 $ 4,856.80 59,639.42 $ $ 134,437.97 31,219.95 781431.00 869,074.28 $ 1,394,546.22 2,569,992.47 40,197.63 78,431.00 307,169.85 1,184,217.80 2,256,435.02 292,680.10 164,224.98 244,088.92 $ 4,952,241.60 $ 4,204,727.75 $ 3,243.44 $ 32,942.62 $ 87,084.71 $ 76,344.56 o.oo s_ ___,;;;,o.=oo~ s_ _ _.;o.;.;.oo~ 1i424,765.09 5,357,331.18 3,929,886.31 $ 0.00 $ 31243.44 $ o.oo $ _ _ _..;;o.;..;;.oo~s s 1,4s1i701.11 s 5,444,415.89 4,006,230.87 $ 39,994.05 $ 6,063.23 $ 10,280.93 $ 59,639.42 $ 1,701,796.63 $ 10,396,657.49 $ 8,210,958.62 -29- DEKALB 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 Central Support Services Food Services Operation Enterprise Operations Capital Outlay Total Expenditures Excess of Revenues over (under) Expenditures OTHER FINANCING SQUR~Es (USES) Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses FUND BALANCE JULY 1 FUND BALAN~E JUNE 30 SCHOOL FOOD SERVICES FUND ATHLETIC FUND GEORGIA LEARNING RESOURCES SYSTEM STATE PRESCHOOL HANDICAPPED PROGRAM SEVERELY EMOTIONALLY DISTURBED $ 1,564,256.00 $ 70,195.00 $ 14,280,059.01 195,748.98 81494,842.80 $ 8431024.14 $ 2413391157.81 $ 8431024.14 $ 2651943.98 $ 847,235.00 $ 2,574,319.00 503,789.90 8471235.00 $ 310781108.90 $ 229,716.67 $ 35,652.31 844,377.81 $ 2,421,492.74 2,857.19 622,962.36 180,587.91 $ 142,240.22 $ 23,542,022.31 647,121.12 $ 23,5421022.31 $ 7891361.34 $ 265,368.98 $ 847,235.00 $ 312251043.01 $ 797,135.50 $ 53,662.80 $ 575.00 $ 0.00 $ -146,934.11 $ 150,000.00 $ 146,934.11 $ 150,000.00 $ 146,934.11 $ 947,135.50 $ 2,903,289.90 53,662.80 $ 28,477.89 575.00 $ 0.00 0.00 $ 0.00 0.00 0.00 $ 3,850,425.40 $ 82,140.69 $ 575.00 $ 0.00 $ 0.00 See notes to the general purpose financial statements. -30- EXHIBITNH" Page 1 ALTERNATIVE SCHOOLS NEXT GENERATION SCHOOLS LOTTERY PROGRAMS DRUG-FREE SCHOOLS AND COMMUNITIES ACT DRUG-FREE SCHOOLS AND COMMUNITIES SCHOOL PERSONNEL TRAINING INDIVIDUALS WITH DISABILITIES EDUCATION ACT TITLEVI, B FLOW PRESCHOOL THROUGH PROGRAM $ 363,408.58 $ 147,000.00 $ 5,671,174.25 $ 390,135.03 $ 91,242.11 $ 2,434,061.88 $ 422,048.06 $ 363,408.58 $ 147,000.00 $ 5,671,174.25 $ 390,135.03 $ 91,242.11 $ 2,434,061.88 $ 422,048.06 $ 146,856.20 $ 147,000.00 $ 4,641,188.09 $ 170,131.71 344,384.55 388,752.03 $ 40.08 46,420.67 686,235.71 1,342.92 45,216.20 $ 2,089,654.54 $ 46,025.91 337,634.74 6,772.60 306,109.09 107,445.17 8,493.80 $ 363,408.58 $ 147,000.00 $ 5,671,808.35 $ 390,135.03 $ 91,242.11 $ 2,434,061.88 $ 422,048.06 $ o.oo s ___,.;.,o""".oo"--s -634.10 s _ _ _.;;.o=.oo,.;..s _____o..;.o..o.. s___.;;.o.=oo,.;..s ___.;;.o=.o..o... $ 634.10 $ _ _ _634_.1_0 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 0.00 $ 0.00 o.oo s_ _ _o..o..o... s 0.00 $ 0.00 0.00 $ 0.00 $ 0.00 0.00 0.00 0.00 o.oo s____o_.oo_ s_-==-==o=.oo= s__==-_o..o...o.. -31 - DEIQiLB QQ!.!!IT! BQABQ QE ED!.!QAIIQt:l QQMl:!lt:llt:l~ filmMEl'fi QE BE:it:Et:l!.!ES E~eEt:lDII!.!BES At:lO Ql:!At:l~ES lt:l E!.!t:lD l:!ALAt:lQES SeEQIAL BE:it:Et:lUE E!.!t:lQ YEAB Et:lPEQ JUt:lE 30 1995 EDUCATION OF CHILDREN IN STATE SCHOOLS CHAPTER 1 EDUCATION OF DEPRIVED CHILDREN ELEMENTARY AND SECONDARY EDUCATION TITLE II EISENHOWER STATE CHAPTER2 MATHEMATICS PROGRAM BLOCK GRANT AND SCIENCE IMPROVEMENT FLOW THROUGH EDUCATION BE:it:Et:l!.!ES State Funds Federal Funds Local and Other Funds $ 22,531.67 $ s,n9,253.05 $ 9,568.00 $ 515,830.00 $ 284,105.42 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 Food Services Operation Enterprise Operations Capital Outlay 221531.67 $ s,n9I2s3.os $ 91568.00 $ 515,830.00 $ 2841105.42 22,531.67 $ s,n6,593.71 $ 12,614.24 10,017.91 9,568.00 $ 514,579.93 $ 186,760.90 1,250.07 89,429.97 343.79 Total Expenditures Excess of Revenues over (under) Expenditures $ 221531.67 $ 5?491225.86 $ 9,568.00 $ 515,830.00 $ 276,534.66 $ 0.00 $ -19,9n.s1 $ 0.00 $ 0.00 $ 71570.76 QTHEB Flt:lAt:lQlt:lQ SQUBQES (USES} Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses $ EUND BALANCE JULY 1 0.00 $ 0.00 -19,972.81 $ 62,n5.10 0.00 $ 0.00 0.00 $ 0.00 7,570.76 0.00 E!.!NQ BALAt:lCE JUNE 30 $ 0.00 $ 42,752.89 $ 0.00 $ 0.00 $ 7,570.76 See notes to the general purpose financial statements. -32- EXHIBIT"H" Page2 ACT FOREIGN LANGUAGES ASSISTANCE EMERGENCY IMMIGRANT EDUCATION EDUCATION FOR HOMELESS CHILDREN AND YOUTH JOB TRAINING PARTNERSHIP ACT DEKALB TECHNICAL INSTITUTE TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994 $ 5,553,055.34 $ 16,790,643.17 $ 12,133,729.81 $ 48,549.65 $ 76,604.16 $ 22,886.07 $ 491,437.24 1,782,077.28 27,299,927.51 25,743,266.35 3,523,175.78 12,861,042.72 12,325,647.81 $ 48,549.65 $ 76,604.16 $ 22,886.07 $ 491,437.24 $ 10,858,308.40 $ 56,951,613.40 $ 50,202,643.97 $ 45,821.60 $ 72,987.71 $ 21,886.07 $ 472,774.95 $ 12,562,340.10 $ 30,896,208.01 $ 25,894,918.92 2,728.05 83.35 289.66 1,000.00 14,086.04 4,576.25 1,029,880.86 175,636.12 117,553.09 22,328.52 1,273,n6.04 72,247.81 256,477.53 37,122.00 2,615,336.66 135,455.88 211,371.78 140,166.37 237,026.49 22,328.52 1,976,775.84 228,558.08 256,477.53 23,542,022.31 647,121.12 37,122.00 2,483,085.24 229,229.61 795,539.16 137,481.79 208,373.45 215,992.69 1,282,167.99 218,557.12 254,411.61 22,223,423.56 674,966.44 28,965.84 $ 48,549.65 $ 73,360.72 $ 22,886.07 $ 491,437.24 $ 15,547,312.07 $ 60,945,970.59 $ 54,647,113.42 $ 0.00 $ 3,243.44 $ 0.00 $ 0.00 $ -4,689,003.67 $ -3,994,357.19 $ -4,444,469.45 $ 5,134,974.00 $ 5,432,542.21 $ 6,707,525.28 -2,309,005.31 $ 5,134,974.00 $ 5,432,542.21 $ 4,398,519.97 $ 0.00 $ 3,243.44 $ 0.00 $ 0.00 $ 445,970.33 $ 1,438,185.02 $ -45,949.48 0.00 0.00 0.00 0.00 1,011,737.38 4,006,230.87 4,052,180.35 $ 0.00 $ 3,243.44 $ 0.00 $ 0.00 $ 1,457,707.71 $ 5,444,415.89 $ 4,006,230.87 33. DEKALB COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET CAPITAL PROJECTS FUND JUNE 30. 1995 ASSETS Cash and Cash Equivalents Investments Accounts Receivable Notes Receivable REGULAR 1989 BOND ISSUE FUND 1993-A BOND ISSUE FUND $ 2,189,531.61 $ 2,415,000.00 $ 25,814,281.69 1,749.98 287,826.22 283,000.00 Total Assets $ 2,472,531.61 $ 2,416,749.98 $ 26,102,107.91 LIABILITIES AND FUND EQUITY LIABILITIES Cash Overdraft Accounts Payable Contracts Payable Retainages Payable Total Liabilities FUND EQUITY Fund Balances Reserved For Federal Capital Outlay For Purposes of Bond Issue For State Capital Outlay Projects Unreserved Undesignated Total Fund Equity $ 34,183.15 $ 230,380.36 138,465.50 $ 403,029.01 $ 209,924.12 $ 18,013,374.21 580,839.96 102,595.97 209,924.12 $ 18,696,810.14 $ 2,206,825.86 $ 7,405,297.77 $ 2,206,825.86 $ 7,405,297.77 $ 2,069,502.60 0.00 0.00 $ 2,069,502.60 $ 2,206,825.86 $ 7,405,297.77 Total Liabilities and Fund Equity $ 2,472,531.61 $ 2,416,749.98 $ 26,102,107.91 See notes to the general purpose financial statements. -34- EXHIBIT"I" GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECTS LOTTERY PROJECT 96/95S-644-029 INSTITUTIONAL CONSERVATION PROGRAM TOTALS JUNE 30, 1995 JUNE 30, 1994 $ 18,676,617.83 $ 243,667.63 $ 18,920,285.46 $ 33,498,754.49 5,800,674.39 $ 9,794.00 36,229,281.69 63,282,455.28 289,576.20 1,014,762.82 283,000.00 283,000.00 $ 24,477,292.22 $ 9,794.00 $ 243,667.63 $ 55,722,143.35 $ 98,078,972.59 $ 2,726,512.09 1,170,375.94 $ 3,896,888.03 $ 18,257,481.48 $ 32,805,047.27 175,900.00 3,537,732.41 938,047.64 1,411,437.41 135,471.12 $ 23,206,651.30 $ 34,054,466.03 $ 20,580,404.19 $ $ 20,580,404.19 $ 0.00 $ 20,580,404.19 $ $ 9,794.00 9,794.00 $ 0.00 9,794.00 $ 243,667.63 $ 243,667.63 $ 9,612,123.63 20,590,198.19 386,506.93 16,313,343.04 32,871,458.39 243,667.63 $ 30,445,989.45 $ 49,571,308.36 0.00 2,069,502.60 14,453,198.20 243,667.63 $ 32,515,492.05 $ 64,024,506.56 $ 24,477,292.22 $ 9,794.00 $ 243,667.63 $ 55,722,143.35 $ 98,078,972.59 - 35- DEKALB COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES CAPITAL PROJECTS FUND YEAR ENDED JUNE 30, 1995 REVENUES Federal Funds Local and Other Funds Total Revenues EXPENDITURES Current Support Services 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 (USES} Proceeds from General Obligation Bonds Par Value Premium on Bonds Sold Operating Transfers In Operating Transfers Out Total Other Financing Sources (Uses) Excess of Revenues and other Financing Sources over (under) Expenditures and other Financing Uses FUND BALANCE JULY 1 REGULAR 1989 BOND ISSUE FUND 1993-A BOND ISSUE FUND $ 465,662.07 $ 216,798.04 $ 960,742.07 $ 465,662.07 $ 216,798.04 $ 960,742.07 $ 16,768.07 $ 10,154.96 $ 8,637,744.65 731,637.42 4,379,137.79 997,521.62 708,985.60 2,032,075.68 $ 9,635,266.27 $ 1,457,391.09 $ 6,421,368.43 $ -9, 169,604.20 $ -1,240,593.05 $ -5,460,626.36 $ 4,825,000.00 -7,300,000.00 $ -2,475,000.00 $ -11,644,604.20 $ -1,240,593.05 $ -5,460,626.36 13,714,106.80 3,447,418.91 12,865,924.13 FUND BALANCE JUNE 30 $ 2,069,502.60 $ 2,206,825.86 $ 7,405,297.77 See notes to the general purpose financial statements. - 36- EXHIBIT"J" GEORGIA STATE FINANCING AND INVESTMENT COMMISSION PROJECTS LOTTERY PROJECT 96/95S-644-029 INSTITUTIONAL CONSERVATION PROGRAM TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994 $ 0.00 $ 99,254.00 $ - - - - - 0.00 $ 0.00 _ _ _ _ _ _ $ 1,643,202.18 2,493,526.39 $ 0.00 $ - - - - - - 0.00 $ 0.00 $ 1,643,202.18 $ 2,592,780.39 $ $ 20,395,351.60 $ 20,395,351.60 $ $ -20,395,351.60 $ 0.00 $ 0.00 $ 0.00 $ $ 409,065.15 $ 142,839.30 26,923.03 34,286,710.76 3,738,582.90 231,167.43 6,076,740.52 4,071,856.51 142,839.30 $ 38,052,216.69 $ 10,788,829.61 -142,839.30 $ -36,409,014.51 $ -8, 196,049.22 $ 7,375,000.00 $ -9,794.00 $ 7,365,206.00 $ $ -13,030, 145.60 $ 33,610,549.79 9,794.00 9,794.00 9,794.00 $ 0.00 $ 52,660,000.00 1,083,837.30 $ 12,209,794.00 46,493,513.00 -7,309, 794.00 -38,701,463.00 $ 4,900,000.00 $ 61,535,887.30 -142,839.30 $ -31,509,014.51 $ 53,339,838.08 386,506.93 64,024,506.56 10,684,668.48 $ 20,580,404.19 $ 9,794.00 $ 243,667.63 $ 32,515,492.05 $ 64,024,506.56 - 37 - DEKALB COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET PROPRIETARY FUND TYPE - INTERNAL SERVICE FUNDS JUNE 30, 1995 EXHIBIT "K" ASSETS Cash and Cash Equivalents Inventories DENTAL RESERVE FUND WAREHOUSE SERVICE FUND TOTAL $ 0.00 $ 242,319.93 $ 242,319.93 225.990.32 225.990.32 Total Assets s____o_.o_o s 468,310.25 s 468,310.25 LIABILITIES AND FUND BALANCES LIABILITIES Cash Overdraft Accounts Payable Salaries Payable Claims Payable Total Liabilities FUND EQUITY Retained Earnings Reserved for Inventories Unreserved Deficit Undesignated Total Retained Earnings Total Liabilities and Fund Balances $ 312,220.46 $ 670.637.53 $ 982.857.99 $ $ 4,240.48 2,499.20 312,220.46 4,240.48 2,499.20 670.637.53 6_739.68 $ 989.597.67 $ 225,990.32 $ 225,990.32 $ -982,857.99 235.580.25 -982,857.99 235.580.25 $ -982.857.99 $ 461.570.57 $ -521.287.42 s _ _ _o_.o_o s 468,310.25 s 468,310.25 See notes to the financial statements. - 38- DEKALB COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE - AGENCY FUNDS YEAR ENDED JUNE 30, 1995 OTHER ARMORED CAR SERVICE ASSETS Cash and Cash Equivalents BALANCE JULY 11 1994 ADDITIONS DEDUCTIONS BALANCE JUNE 301 1995 $ -27.18 $ 671934.00 $ 671906.82 $ 0.00 LIABILITIES Funds Held for Others $ -27.18 $ 67,934.00 $ 67,906.82 $ _ _ _ _0_.00_ EMPLOYEE'S ALTERNATIVE BENEFIT FUND ASSETS Cash and Cash Equivalents Investments TctalAssets $ 936,493.46 $ 23,535,855.93 $ 24,375,566.00 $ 96,783.39 1,000,000.00 1,000,000.00 $ 936,493.46 $ 24,535,855.93 $ 24,375,566.00 $ 1,096,783.39 LIABILITIES Funds Held for Others $ 936,493.46 $ 24,535,855.93 $ 24,375,566.00 $ 1,096,783.39 HEALTH SELF-INSURANCE TRUST FUND ASSETS Cash and Cash Equivalents Investments Total Assets $ 166,487.04 $ 1,900,000.00 1,490,410.87 $ 300,000.00 1,583,418.11 $ 73,479.80 2,200,000.00 $ 2,066,487.04 $ 117901410.87 $ 11583,418.11 $ 2,273,479.80 LIABILITIES Funds Held for Others $ 2,066,487.04 $ 1,790,410.81 $ 1,583,418.11 $ 2,213i419.so -39- DEKALB COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE -AGENCY FUNDS YEAR ENDED JUNE 30, 1995 OTHER RETIRED EMPLOYEE'S MEDICAL INSURANCE ASSETS Cash and Cash Equivalents BALANCE JULY1 1 1994 ADDITIONS DEDUCTIONS BALANCE JUNE 301 1995 $ 0.57 $ 971816.73 $ 791232.68 $ 181584.62 LIABILITIES Funds Held for Others $ 0.57 $ 971816.73 $ 791232.68 $ 181584.62 SALES TAX ASSETS Cash and Cash Equivalents $ s 1i912.os 29,400.60 $ 25,521.01 s_ __.5._7es_.59_ LIABILITIES Funds Held for Others ATHLETIC FUND SALES TAX ASSETS Cash and Cash Equivalents LIABILITIES Funds Held for Others STUDENT INSURANCE ASSETS Cash and Cash Equivalents LIABILITIES Funds Held for Others $ 1,912.06 $ 29,400.60 $ 25 521.01 s _ _ _5._7es_.59_ 1 $ -943.64 $ 14.25 $ 836.20 s _ _-_11.1.s.s_.59_ $ -943.64 $ 14.25 $ 836.20 s _ _-_.1_1ss_.59_ 1 $ -386.50 $ 7743.51 $ 7 836.26 s _ _ _-4_7_9_.25_ 1 $ -386.50 $ 7743.51 $ 7,836.26 s _ _ _-4_7_9_.25_ -40- DEKALB COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE - AGENCY FUNDS YEAR ENDED JUNE 30, 1995 EXHIBIPL DEKALB TECHNICAL INSTITUTE ADULT EDUCATION GRADUATION CEREMONY ASSETS Cash and Cash Equivalents BALANCE JULY1 1 1994 ADDITIONS DEDUCTIONS BALANCE JUNE 301 1995 $ 0.00 $ 81081.56 $ 41526.14 $ 31555.42 LIABILITIES Funds Held for Others CONCESSIONS ASSETS Cash and Cash Equivalents $ 0.00 $ 81081.56 $ s_ _ 41526.14 3_I555....,.....,.4_2 $ 1421165.11 $ 511671.42 $ 161380.83 $ 1ni455.10 LIABILITIES Funds Held for Others $ 1421165.11 $ 511671.42 $ 161380.83 $ 1ni455.70 HOPE GRANT ASSETS Cash and Cash Equivalents Accounts Receivable Total Assets LIABILITIES Funds Held for Others $ -83,531.75 $ s 740,390.50 $ 1,428,628.62 -n1 ,769.87 610,107.50 610,107.50 $ -83,531.15 s 1I350A98.oo s 1,4281628.62 $ -1611662.37 $ 1,428,628.62 $ -1611662.37 PELL GRANT ASSETS Cash and Cash Equivalents $ -41017.54 $ 6221118.50 $ 6051812.00 $ 121288.96 LIABILITIES Funds Held for Others $ -4 017.54 $ -41 - 6221118.50 $ 6051812.00 $ 121288.96 DEKALB COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE -AGENCY FUNDS YEAR ENDED JUNE 30, 1995 DEKALB TECHNICAL INSTITUTE SCHOLARSHIP FUND ASSETS Cash and Cash Equivalents BALANCE JULY1, 1994 ADDITIONS BALANCE DEDUCTIONS JUNE 30, 1995 $ 201299.62 $ 141897.29 $ 111692.09 $ 231504.82 LIABILITIES Funds Held for Others $ 201299.62 $ 141897.29 $ 111692.09 $ 23,504.82 STUDENT CLUBS ASSETS Cash and Cash Equivalents LIABILITIES Funds Held for Others STUDENT INSURANCE ASSETS Cash and Cash Equivalents LIABILITIES Funds Held for Others SUNSHINE FUND ASSETS Cash and Cash Equivalents $ 31070.02 $ 41406.28 $ 4?39.24 s___2I_73_1_.os_ $ 31070.02 $ 41406.28 $ 4?39.24 s ___2I_73_1_.os_ $ 275.50 $ 111311.00 $ s_ _ 8 393.50 1 3_1_1_93_.oo_ $ 275.50 $ 111311.00 $ 8 393.50 s _ _ _3..1..9. 3_.oo_ 1 $ 11337.68 $ 41564.00 $ s_ _ _ 4,700.11 1._20_1_.s_1 LIABILITIES Funds Held for Others $ 11337.68 $ 41564.00 $ s_ _ _ 4i700.11 1._20_1_.s_1 -42- DEKALB COUNTY BOARD OF EDUCATION COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FIDUCIARY FUND TYPE - AGENCY FUNDS YEAR ENDED JUNE 30, 1995 BALANCE JULY1, 1994 ADDITIONS DEDUCTIONS BALANCE JUNE 30, 1995 DEKALB TECHNICAL INSTITUTE SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT ASSETS Cash and Cash Equivalents $ 61144.00 $ 781446.00 $ 991327.00 $ -14?37.00 LIABILITIES Funds Held for Others $ 61144.00 $ 781446.00 $ 991327.00 $ -14?37.00 VICA STATE CONFERENCE ASSETS Cash and Cash Equivalents LIABILITIES Funds Held for Others TOTALS-AGENCY FUNDS ASSETS Cash and Cash Equivalents Investments Accounts Receivable Total Assets $ 0.00 $ 101138.07 $ s_ _ _ 9 283.03 855_.04_ 1 $ 0.00 $ 101138.07 $ s___ 9 283.03 8_55_.04_ 1 $ 1,189,278.45 $ 26,775,200.51 $ 28,333,805.76 $ -369,326.80 1,900,000.00 1,300,000.00 3,200,000.00 610,107.50 610,107.50 $ 310891278.45 $ 2816851308.01 $ 28,333,805.76 $ 3,440,780.70 LIABILITIES Funds Held for Others $ 3,089,278.45 $ 28,685,308.01 $ 28,333,805.76 $ 3,440,780.70 See notes to the general purpose financial statements. -43- C!EKALB COUNTY BOARQ QE EDUCATION SCHEDULE QE FEDE!W, BNANCIAL. M!TANCE YEAR ENQEP JUNE 30, 1995 SCHEDULE 1 FUNDING AGENCY PROGRAM/GRANT CFDA NUMBER AWARDS INPERIOD FEDERAL FUNDS RECEIVEDIN PERIOO(NET OF REFUNDS) FEDERAL REVENUE INPERIOO EXPENDITURES INPERIOD Agriculture, U. S. Department t:A Through Georgia Department t:A Education Food and Nubition Program Child and Adult Care Food Program 1994 Contract 1995 Contract Food Services School Breakfast Program 1994Grant 1995Grant National School Lunch Program 1994Grant 1995Grant Food Distribution Program (1) Total U.S. Department t:A Agriculture 10.558 s 3TT.2<1 s 10.558 28,130.72 28,130.72 S 28,130.72 (2) 10.553 10.553 1,851,027.85 10.555 10.555 10.550 10,826,387.,45 1~7<1,513.19 s s 1~so,059.01 "3,889.38 1,803,872.04 1,851,027.85 (2) "57,805.52 10,<119, 171.1<1 NIA 10,826,387.,45 S 21,967,509.12 (3) 1,57<1~13.19 1,57<1,513.19 s 12,752,826.04 S 14~80,059.01 23,542,022.31 Education, U. S. Department t:A Direct College Work-Study Program 1994Grant 1995Grant Drug-Free Schools and Communities School Personnel Training 1994Grant Pell Grant 1994Grant 1995Grant P.L.81-874 1989Grant 1990Grant 1995Grant Supplernenlal Educational Opportunity Grant 1994Grant 1995Grant Through Georgia Department t:A Education Drug-Free Schools and Communities kt. 1992 Carry-Over-Fiscal Year 1994 1993 Carry-Over- Fiscal Year 1995 1994 Regular 1994 Carry-Over 1995 Regular Elementaiy and Secondaiy Education kt. Chapear1 Education rA Children In State Schools 1994 Regular 1994 Cariy-Over 1995 Regular Education t:A Deprived Children 1994 Regular 1994 Carry-Over 1994Surnmer 1995 Regular 1995Summer Stale Program Improvements 1995 Regular Chapear2 Block Grant - Flow Through 1994 Regular 1994 Cariy-Over 1995 Regular Tdlell Eisenhower Mathematics and Science Education 1994 Regular 1995 Regular 84.033 s 84.033 s "4,755.00 84.207 84.063 84.063 84.041 84.041 84.041 84.007 84.007 121,491.00 620,721.00 2,976.69 383.19 33,005.00 87,585.00 84.186 84.186 84.186 84.186 84.186 26,069.00 118,015.00 370,695.00 84.009 84.009 84.009 84.010 84.010 84.010 84.010 84.010 84.218 8,<127.00 21,692.00 629,562.00 <1,873,589.00 369,087.00 9,568.00 84.151 84.151 84.151 2,<123.00 513,407.00 84.164 84.164 225,022.00 30,954.00 S 30,954.00 (4) 8,669.00 8,669.00 (