GA
A..ioo
.. RI E~<o
JJ-
1994-95
STATE OF GEORGIA DEPARTMENT OF AUDITS
254 WASHINGTON STREET ATLANTA. GEORGIA 30334

AUDIT REPORT JACKSON COUNTY BOARD OF EDUCATION
JEFFERSON, GEORGIA YEAR ENDED JUNE 30, 1995

JACKSON COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

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

EXHIBITS

GENERAL PURPOSE FINANCIAL STATEMENTS

COMBINED STATEMENTS-OVERVIEW

A

COMBINED BALANCE SHEET

ALL FUND TYPES AND ACCOUNT GROUP

2

B

COMBINED STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

ALL GOVERNMENTAL FUND TYPES

AND EXPENDABLE TRUST FUND

4

C

STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(NON-GAAP BASIS)

GENERAL AND SPECIAL REVENUE FUNDS

6

D NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

7

ADDITIONAL FINANCIAL INFORMATION

COMBINING STATEMENTS

SPECIAL REVENUE FUND

E

COMBINING BALANCE SHEET

22

F

COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES

24

CAPITAL PROJECTS FUND

G

COMBINING BALANCE SHEET

26

H

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

27

SCHEDULES

I SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE

28

2 CASH AND CASH EQUIVALENTS

30

3 INVESTMENTS

31

4 ACCOUNTS RECEIVABLE

33

5 DEBT SERVICE REQUIREMENTS TO MATURITY

34

JACKSON COUNTY BOARD OF EDUCATION - TABLE OF CONTENTS -

SECTION I

FINANCIAL

ADDITIONAL FINANCIAL INFORMATION

SCHEDULES

SCHEDULE OF REVENUE

6

STATE

36

7

LOCAL AND OTHER

37

SCHEDULE OF EXPENDITURES BY OBJECT

8

GENERAL AND SPECIAL REVENUE FUNDS

39

9

LOTTERY PROGRAMS

40

10

FIDUCIARY FUND TYPE

EXPENDABLE TRUST FUND

42

ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS

GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS

11

OVERALL

43

12

BY PROGRAM

44

13 SCHEDULE OF COMPENSATION OF BOARD MEMBERS

46

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

JACKSON 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 AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Jackson County Board ofEducation
INDEPENDENT AUDITOR'S COMBINED REPORT ON GENERAL PURPOSE FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
Ladies and Gentlemen:
We have audited the general purpose financial statements (Exhibits A through D) of the Jackson County Board of Education, as of and for the year ended June 30, 1995, as listed in the table of contents. These financial statements are the responsibility of the Board's management. Our responsibility is to express an opinion on these financial statements based on our audit.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States, and the provisions of the Office of Management and Budget Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe
that our audit provides a reasonable basis for our opinion.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.

95ARL-13*

As described in the notes to the general purpose financial statements, the Board's financial statements have been prepared using certain accounting practices and policies which, in our opinion, vary in some respects from generally accepted accounting principles. These variances are described as follows:
* The general purpose financial statements of the Board did not contain a General Fixed Assets Account Group to account for property and equipment owned by the Board which should be included to conform to generally accepted accounting principles.
* School activity accounts maintained at the individual schools are not included in the general purpose financial statements. To conform to generally accepted accounting principles, these accounts should be included in the general purpose financial statements.
* The Board did not recognize as expenditures, in the year ended June 30, 1995, a portion of salaries and the corresponding employer's cost of related benefits earned for contractual services completed prior to June 30, 1995. Also funds received, subsequent to June 30, 1995, from the Georgia Department ofEducation for the State's share of these unrecorded salaries and related benefits were not recorded as revenue in the year under review. Conversely, the similar expenditures and related revenues for contractual services completed prior to June 30, 1994, were improperly recorded in the year ended June 30, 1995. To conform to generally accepted accounting principles, revenues should be recorded when available and measurable and expenditures should be recorded when incurred, rather than when funds are received or disbursed.
The aggregate effects on the general purpose financial statements of these variances or omissions have not been determined, but are believed to be material.
In our opinion, except for the effects ofsuch adjustments, if any, on the Special Revenue Fund, as might have
been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects on the general purpose financial statements of the matters referred to in the preceding paragraph, the general purpose financial statements present fairly, in all material respects, the financial position of the Jackson County Board ofEducation as of June 30, 1995, and the results ofits operations for the year then ended, in conformity with generally accepted
accounting principles. In accordance with Government Auditing Standards, we have also issued a report dated
July 30, 1996, on our consideration ofthe Board's internal control structure and a report dated July 30, 1996, on its compliance with laws and regulations.
Our audit was conducted for the purpose of forming an opinion on the general purpose financial statements ofthe Jackson County Board of Education taken as a whole. The combining statements (Exhibits E through H) and the financial schedules (Schedules 1 through 13 which includes the Schedule of Federal Financial Assistance) are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of the Jackson 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 effect of adjustments, if any, on the Special Revenue Fund, as might have been determined to be necessary had we been able to satisfy ourselves as to the accuracy of the food service inventories as discussed in the third paragraph, and except for the effects of the matters referred to in the fourth paragraph, such information is fairly presented in all material respects in relation to the general purpose financial statements taken as a whole.
95ARL-13*

A copy ofthis report has been filed as a pennanent record in the office of the State Auditor and made available to the press of the State, as provided f9r by Official Code of Georgia Annotated Section 50-6-24.
Respectfully submitted,
~~~
Claude L. Vickers State Auditor
CLV:gp 95ARL-13*

JACKSON COUNTY BOARD OF EDUCATION - 1-

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

J6Q~QH QQ!.!HD: ~BQ QE EQ!,!QAIIQH QQMal~!;;Q M~HQE 1:lEEI
6LL E!.!NQ n:ees 6NQ 6QQQ!.!tiI ~BQ!.!e
J!,!NE 30 1995

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 199,888.45 $

57,007.96 $

8,130.29

1,212,868.31

11,888,976.76

203,716.63

154,222.06

7,543.50

29,041.89 13,029.80

$ 1,624,016.89 $ 253,301.71 $ 11,897,107.05

LIAalLITIES ANQ E!.!~Q EQUID'.
LIABII.ITIE
Accounts Payable Salaries Payable Expired Grant Balances Payable Contracts Payable Retainages Payable Capital Lease Agreements General Obligation Bonds Payable
Total Liabilities
FUND EQ!,!ll)'.
Fund Balances Reserved For Bus Replacement Funds For Continuation of Federal Programs For Debt Service For Expired Grant Balances/Questioned Costs For Inventories Food Donated Commodities Purchased Food For Purposes of Bond Issue For State Capital Outlay Projects
Unreserved Deficit Undesignated
Total Fund Equity

$ 469,574.12 $

95,649.90 $

144,880.57

365.81

2,496.67

39,660.66
64,931.41 56,535.16

$ 469,939.93 $ 243,027.14 $ 161,127.23

$

27,350.98

$

7,400.86

444.13

$

34,751.84 $

1,119,325.12 $ 1,154,076.96 $

29,041.89 13,029.80
$

11,670,970.52 48,305.00

42,515.82 $ 11,719,275.52

-32,241.25 0.00

16,704.30

10,274.57 $ 11,735,979.82

Total Liabilities and Fund Equity

$ 1,624,016.89 $ 253,301.71 $ 11,897,107.05

The notes to the general purpose financial statements are an integral part of this statement. 2

EXHIBIT"A"

DEBT SERVICE
FUND

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

ACCOUNT GROUP GENERAL
LONG-TERM DEBT

TOTALS (Memorandum OnM JUNE 30, 1995 JUNE 30, 1994

$ 1,249,916.58 $

575.24

$ 1,515,518.52 $ 1,002,243.63

476,825.26

13,578,670.33

2,098,379.84

49,182.55

407,121.24

530,329.58

7,543.50

29,041.89 13,029.80

31,n3.35 14,496.64

$

1,n5,924.39

1,n5,924.39

1,150,374.37

$ 1,n5,924.39 $

19,509,075.61 1,332,801.66

19,509,075.61 1,332,801.66

6,554,625.63 1,380,298.87

575.24 $

22,617,801.66 $ 38,168,726.94 $ 12,762,521.91

$

604,884.68 $

620,944.64

144,880.57

139,630.50

2,862.48

12,838.67

64,931.41

56,535.16

$

1,332,801.66

1,332,801.66

1,380,298.87

21,285,000.00 21,285,000.00

7,705,000.00

$

22,617,801.66 $ 23,491,895.96 $ 9,858,712.68

$ 1,n5,924.39
$ 1,n5,924.39 0.00 $
$ 1,n5,924.39 $ $ 1,n5,924.39 $

575.24 575.24

$

27,350.98 $ 275,189.00

444.13

1,n5,924.39

1,150,374.37

7,400.86

7,424.80

29,041.89 13,029.80 11,670,970.52 48,305.00
$ 13,572,467.57 $
-32,241.25 1, 136,604.66
$ 14,676,830.98 $

31,773.35 14,496.64
1,729.00 1,480,987.16
1,422,822.07 2,903,809.23

575.24 $

22,617,801.66 $ 38,168,726.94 $ 12,762,521.91

3

JACKSON COUNTY BOARD OF EDUCATION COMBINED STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES
ALL GO\/ERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND YEAR ENDEP 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 Other Support Services
Food Services Operation
Community Service Operations Other Operations of Non-Instructional Services Capital Outlay Debt Service Principal Interest Escrow Agent Paying Agent Fees
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES lUSES)
Proceeds from General Obligation Bonds Par Value
Refunding Bond Issuance Cost Proceeds of Refunding Bonds
Par Value Payments to Refunded Bond Escrow Agent Capital Leases Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1
Food Inventory - Net Change in Period Donated Commodities Purchased Food

GENERAL FUND

GOVERNMENTAL FUND

SPECIAL

CAPITAL

REVENUE

PROJECTS

FUND

FUND

$ 12,051,038.57 $ 78,579.82
5,211,784.44

883,379.43 1,781,458.66
548,451.62 $ _____3=55""',3;.,a9-',4."'-84-'-

$ 17,341,402.83 $ 3.213.289.71 $ _ _...;3-",.55"-'.3=94'-'----.84~

$ 10,966,687.95 $ 1,254,277.25

949,222.84 480,695.00 449,300.99 159,660.85 1,317,795.41 168,812.51 1,348,747.13 1,370,669.17 219,495.93
28,896.09 60,740.33
129,999.04 1,795.52

178,875.05 78,724.58

15,343.09 4,470.02 100.52 $ 8,948.51 11,090.82

299,580.22

144,203.73 1,623,527.62
5,040.39 495.90

2,340,267.70

264,353.38 92,417.48

870.00

$ 18,010,159.62 $ 3.325.097.48 $ 2,639,847.92

$ -668,756.79 $ -111,807.77 $ -2,284,453.08

$ 14,000,000.00

$

216,856.17

$

-5,542.74

$

211,313.43 $

5,542.74 5,542.74 $ 14,000,000.00

$ -457,443.36 $ 1,611,520.32

-106,265.03 $ 11,715,546.92

120,737.90

20,432.90

-2,731.46 -1,466.84

FUND BALANCE JUNE 30 The notes to the general purpose financial statements are an integral part of this statement.
-4-

$ 1,154,076.96 $

10,274.57 $ 11,735,979.82

EXHIBIT "B"

TYPES DEBT
SERVICE FUND

TOTAL

FIDUCIARY FUND TYPE EXPENDABLE TRUST FUND

TOTALS
{Memorandum Onl~ YEAR ENDED
JUNE 301 1995 JUNE 301 1994

$ 12,934,418.00 $

1,860,038.48

$ 1,794,617.21

7,910,248.11

$ 1,794,617.21 $ 22,704,704.59 $

0.00 $ 12,934,418.00 $ 11,658,704.05

1,860,038.48

1,758,211.99

7,910,248.11

6,240,060.83

0.00 $ 22,704,704.59 $ 19,656,976.87

$ 12,220,965.20

1,128,097.89 559,419.58 449,300.99 175,003.94
1,322,265.43 468,493.25
1,357,695.64 1,381,759.99
219,495.93 173,099.82 1,684,267.95
5,040.39 130,494.94 $ 2,342,063.22

$

420,000.00

746,711.25

684,353.38 839,128.73

2,355.94

3,225.94

$ 1,169,067.19 $ 25,144,172.21 $

$ 625,550.02 $ -2,439,467.62 $

$ 12,220,965.20 $ 11,226,558.45

168.50

1,128,097.89 559,419.58 449,300.99 175,003.94
1 ,322 ,265 .43 468,493.25
1,357,695.64 1,381,759.99
219,495.93 173,099.82 1,684,267.95
5,040.39 130,683.44 2,342,063.22

753,209.14 472,109.42 441,384.47 171,214.67 1,247,839.72 115,132.46 1,169,180.88 876,261.22 200,801.56 128,135.60 1,438,388.84
2,902.80 69,623.47 34,146.40

684,353.38 839,128.73
3,225.94

184,770.00 541,615.07 1,172,174.02
2 407.95

168.50 $ 25,144,340.71 $ 20,247,856.14

-168.50 $ -2,439,636.12 $ -590,879.27

$ 14,000,000.00

216,856.17 5,542.74 -5 542.74
$ 14,216,856.17

$ 625,550.02 $ 11,777,388.55 $

1,150,374.37

2,903,065.49

-2,731.46 -1 466.84

$ 14,000,000.00 $

-188,933.81

216,856.17 5,542.74 -5 542.74

7,705,000.00 -7,516,066.19
1,757.00 -1.757.00

$ 14,216,856.17 $

0.00

-168.50 $ 11,777,220.05 $

743.74

2 ,903,80923

-590,879.27 3,485,803.95

-2,731.46 -1,466.84

5,632.90 3 251.65

$ 1,775,924.39 $ 14,676,255.74 $

575.24 $ 14,676,830.98 $ 2,903,809.23

.5.

JACKSON COUNTY BOARD OF EDUCATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - (NON-GAAP BASIS} GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 1995

EXHIBITc

REVENUES
State Funds Federal Funds Local and Other Funds
Total Revenues
EXPENDITURES
Current Instruction Support Services Pupil Services Improvement of Instructional Services Educational Media Services General Administration School Administration Business Administration Maintenance and Operation of Plant Student Transportation Services Central Support Services Other Support Services Food Services Operation Community Service Operations Other Operations of Non-Instructional Services
Capital Outlay Debt Service
Total Expenditures
Excess of Revenues over (under) Expenditures
OTHER FINANCING SOURCES (USES}
Other Sources Other Uses
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1, 1994
Adjustments

GENERAL FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 83,402.00 $ 12,051,038.57

12, 185,881.20

78,579.82

4,993,000.23 5,211,784.44

$ 17,2621283.43 $ 17,3411402.83

$ 11,303,199.07 $ 10,966,687.95

885,082.98 526,489.50 460,153.41 178,872.39 1,428,025.62 138,582.06 1,243,488.21 1,319,097.93 368,227.57
17,430.88 66,602.50

949,222.84 480,695.00 449,300.99 159,660.85 1,317,795.41 168,812.51 1,348,747.13 1,370,669.17 219,495.93
28,896.09 60,740.33

106,214.71 371,548.00 265,802.74

129,999.04 1,795.52
3571640.86

$ 18,678,817.57 $ 18,0101159.62

$ -1,416,534.14 $ -668,756.79

$

0.00 $ 216,856.17

-5,542.74

$

0.00 $ 211,313.43

$ -1,416,534.14 $ -457,443.36 1,639,875.58 1,611,520.32 40,469.55

SPECIAL REVENUE FUND

ACTUAL

(BUDGET

BUDGET

BASIS}

$ 812,227.60 $ 883,379.43

1,547,880.89 1,781,458.66

5551348.40

5481451.62

$ 219151456.89 $ 312131289.71

$ 1,176,605.65 $ 1,254,277.25

184,141.00 78,597.00

178,875.05 78,724.58

14,680.00 4,490.00 500.00 3,040.00
12,680.00

15,343.09 4,470.02 100.52 8,948.51
11,090.82

149,335.00 1,298,880.24
4,000.00 756.00

144,203.73 1,623,527.62
5,040.39 495.90

$ 2,927?04.89 $ 31325,097.48 $ -12,248.00 $ -111,so1.n

$

0.00 $

5,542.74

$

0.00 $

5,542.74

$ -12,248.00 $ -106,265.03

124,293.82

74,467.91

-44,667.84

FUNQ BALANCE JUNE 30, 1995

$ 263,810.99 $ 1,154,076.96

$ 67,3n.98 $ -31,797.12

The notes to the general purpose financial statements are an integral part of this statement. -6-

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Jackson County Board ofEducation (Board) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters and a Superintendent appointed by the Board. With the exception ofthe departures from generally accepted accounting principles disclosed in these notes, the financial statements of the Board have been prepared in conformity with generally accepted accounting principles as applied to government units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting standards.
The more significant of the 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 Jackson County Board of Education.
Based upon the application ofthe above criteria, the Jackson 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 Jackson County, Georgia, excluding those areas encompassed by the City of Commerce and the City ofJefferson. The Board is not included in any other governmental "reporting entity" as defined by GASB Codification of Governmental Accounting and Financial Reporting Standards.
Board members were elected by the public and have decision making authority, the power to designate management, the ability to significantly influence operations, and primary accountability for fiscal matters. The Board determines the millage rate at which school taxes are levied and may incur bonded indebtedness with voter approval.
FUND ACCOUNTING
The Board uses funds and an account group to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by.segregating transactions related to certain governmental functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. An account group is a financial reporting device designed to provide accountability for certain assets and liabilities that are not recorded in the funds because they do not directly affect expendable available financial resources.
General Fixed Assets are recorded as expenditures in the various funds at the time of purchase. A General Fixed Assets Account Group is not presently maintained by the Board. To conform to generally accepted accounting principles, a General Fixed Assets Account Group should be maintained for reporting the cost of assets acquired by governmental fund types.
- 7-

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT D 11 11

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Although "school activity accounts" are maintained at the individual schools, neither the assets, liabilities and fund equity, nor the revenues, expenditures and changes in fund balances of these accounts are reflected in these financial statements. To conform to generally accepted accounting principles, these accounts should be recorded in the general purpose financial statements.
The general purpose financial statements account for all State, Federal, Local and Other Funds under control ofthe Board, in compliance with generally accepted accounting principles applicable to governmental units, unless otherwise disclosed in these notes. Funds and the account group presented in this report are as follows:
GOVERNMENTAL FUND TYPES - are used to account for all or most of a Board's general activities. Governmental Fund Types include:
GENERAL FUND - the fund used to account for all financial resources of the Board except those required to be accounted for in another fund. These transactions relate to resources obtained and used for services provided by a board of education.
SPECIAL REVENUE FUND - the fund used to account for the proceeds of specific revenue sources (other than for major capital projects) that are legally restricted to expenditures for specified purposes. These funds are primarily received from the Georgia Department of Education and from the Federal government to accomplish specific objectives and are required to be accounted for separately. Also included are proceeds received from State, Federal, Local and Other sources for operations of the school food services fund. This fund could be accounted for as an enterprise fund; however, the Board chooses not to provide for depreciation, but to maintain the fund on a modified accrual basis and to report the fund as a special revenue fund under governmental fund types, which is acceptable under generally accepted accounting principles for governmental entities.
CAPITAL PROJECTS FUND - the fund used to account for financial resources to be used for the acquisition or construction of major capital facilities.
DEBT SERVICE FUND - the fund used to account for the accumulation ofresources for, and the payment of, general long-term principal, interest and paying agent fees.
FIDUCIARY FUND TYPES - the trust fund used to account for assets held by a government unit in a trustee capacity or as an agent for individuals, private organizations, other government units and/or other funds. This fund includes:
EXPENDABLE TRUST FUND Student Achievement Recognition Fund - the fund used to account for donations which may be expended to provide awards made at the discretion of the Board.

- 8-

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT D 11 11

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ACCOUNT GROUP

GENERAL LONG-TERM DEBT ACCOUNT GROUP - used to account for general obligation bonds outstanding and material capital lease obligations.

BASIS OF ACCOUNTING

The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All governmental funds and the expendable trust fund 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.

Governmental funds and the expendable trust fund are accounted for using the modified accrual basis of accounting under which:

Revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available).

"Measurable" means the amount ofthe transaction can be determined and "available" means collectible within

the current period or soon enough thereafter to be used to pay liabilities of the current period. Those revenues

considered susceptible to accrual are property taxes, intergovernmental grants and investment income.

Property taxes are considered available if they are collected and remitted by the collecting agent to the Board

within 60 days after fiscal year-end.



Expenditures are generally recognized when the related fund liability is incurred.

A departure from the above definitions is the accounting treatment afforded the final two payments on General Fund teachers' and bus drivers' contracts, and the resources available from the Georgia Department of Education for the State's share ofthese contracts. During fiscal year 1995, a substantial number of personnel of the Board were employed for a one hundred and ninety day period beginning in late August 1994 and ending in early June 1995. Personnel contracts for this employment period specify that compensation be paid in twelve equal monthly payments beginning in September 1994 and ending in August 1995. State grants to fund the State's share of these contracts were disbursed from the Georgia Department of Education to the Board in the same twelve months. As ofJune 30, 1995, compensation under these employment contracts had been earned, but two of the twelve monthly payments, due for July and August 1995, had not been made. Payments for these two months were made and recorded as expenditures by the Board subsequent to June 30, 1995. Also, the State's portion of the compensation paid in July and August 1995 was received and recorded as revenue in the fiscal year subsequent to June 30, 1995. Conversely, the similar expenditures and

- 9-

JACKSON COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATE1\1ENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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.

BUDGET

The Jackson County Board ofEducation's budget is a complete financial plan for the Board's fiscal year and is based upon estimates of expenditures together with probable funding sources. There is no statutory prohibition regarding overexpenditure of the budget at any level. The budget for all governmental funds is prepared by fund, function and object. The legal level of budget control was established by the Board at the aggregate level. The budget for governmental funds was prepared on a basis other than generally accepted accounting principles.

The budget process begins when the Board's administration prepares a tentative budget for the Board's approval. After approval of this tentative budget by the Board, such budget is advertised at least once in a newspaper ofgeneral circulation in the locality. At the next regular meeting of the Board after advertisement, the Board receives comments on the tentative budget, makes revisions as necessary and adopts a final school budget. This final budge~ is then submitted, in accordance with provisions of the 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.

The Statement ofRevenues, Expenditures and Changes in Fund Balances - Budget and Actual presents actual and budgeted data for the General Fund and Special Revenue Fund. To facilitate comparison with the budget, the following adjustments have been made to actual revenues, expenditures and fund balance as reflected on Exhibit "B" of this report:

Excess ofRevenues and Other Sources of Financial Resources over (under) Expenditures and Other Financing Uses
Fund Balance July 1, 1994
Adjustments: Inventories July 1, 1994 Food Donated Commodities Purchased Foods
Fund Balance June 30, 1995 (Budget Basis)

Special Revenue
Fund
$ -106,265.03 120,737.90
-31,773.35 -14,496.64 $ -31,797.12

- 10 -

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D11

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note I: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
CASH AND CASH EQUIVALENTS
COMPOSITION OF DEPOSITS Cash and cash equivalents consist ofdeposits (mcluding N.0.W. accounts) in authorized financial institutions. Georgia Laws authorize the Board to deposit its funds in one or more solvent banks, insured Federal savings and loan associations, or insured State chartered building and loan associations. The placement of proceeds from bond issues in certificates ofdeposit is limited to financial institutions located within this State.
INVESTMENTS
COMPOSITION OF INVESTMENTS Investments made by the Board are stated at cost. The Official Code of Georgia Annotated Section 36-83-4 authorizes the Board to invest its funds in the following:
(I) Obligations issued by the State of Georgia or by other states,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State of Georgia, Office ofTreasury and Fiscal Services,
(7) Repurchase agreements, and
(8) Obligations of other political subdivisions of the State of Georgia.
RECEIVABLES
Receivables consist ofgrant reimbursements due from Federal, State or other granters for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Receivables recorded on the general purpose financial statements do not include any amounts which would necessitate the need for an allowance for uncollectible receivables.

- 11 -

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

PROPERTY TAXES

The Jackson County Board ofCommissioners fixed the property tax levy for the 1994 tax year (calendar year) on October 20, 1994 (levy date). Taxes were due on December 20, 1994. The lien date for property taxes was January 1, 1994. Taxes collected within the current fiscal year or within 60 days after year-end are reported as revenue in fiscal year 1995 since their collection meets the criteria of GASB codification section P70.103. The Jackson County Tax Commissioner bills and collects the property taxes for the Board of Education, withholds 2.5% of taxes collected as a fee for tax collection, and remits the balance of taxes collected to the Board.

Tax millage rates levied for the 1994 tax year (calendar year) for the Jackson County Board ofEducation were as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations School Bonds

12.35 mills 4.53 mills

~mills

INVENTORIES

FOOD INVENTORIES Inventories of donated food commodities used in the preparation of meals are reported on the Combined Balance Sheet at their Federally assigned value. Purchased foods inventories are reported on the Combined Balance Sheet at cost. Donated, food commodities are recorded as revenues and expenditures at the time commodity items are received. Purchased foods inventories are recorded as expenditures at the time of purchase. The inventories reported on the balance sheet for donated food commodities and for purchased foods are equally offset by reservations of fund balance which indicates that these amounts do not constitute "available spendable resources" even though they are a component of net current assets.

PREPAID ITEMS

Payments made to vendors for services that will benefit periods subsequent to June 30, 1995, are recorded as prepaid items.

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.

- 12 -

JACKSON COUNTY BOARD OF EDUCATION

EXI-IlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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

GENERAL OBLIGATION BONDS

The Board issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds are direct obligations and pledge the full faith and credit of the government. The outstanding amount of these bonds is recorded in the General Long-Term Debt Account Group.

INTERFUND TRANSACTIONS

The Board has the following types ofinterfund transactions:

Reimbursements of expenditures initially made from a fund that are properly applicable to another fund, are recorded as expenditures in the reimbursing fund and as reductions of expenditures in the fund that is reimbursed.

Operating transfers are recorded for all interfund transactions other than reimbursements.

MEMORANDUM ONLY -TOTAL COLUMNS

Total columns on the general purpose financial statements are captioned "Memorandum Only" to indicate that they are presented only to facilitate financial analysis. Data in these columns do not present financial position or results of operations in conformity with generally accepted accounting principles. Neither are such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data.

DEFICIT FUND BALANCES

Funds reporting a deficit fund balance position at June 30, 1995, which are not readily apparent on the general purpose financial statements are as follows:

Fund Type/Fund Name

Deficit Balances

Special Revenue Fund School Food Services Fund

$ 32,241.25

- 13 -

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEl\ffiNTS

JUNE 30, 1995

Note 2: DEPOSITS AND INVESTl\ffiNTS
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 ofthe public funds being secured
after the deduction of the amount of deposit insurance. OCGA Section 45-8-11 provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates ofindebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest and debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
CATEGORIZATION OF DEPOSITS At June 30, 1995, the bank balances were $2,588,160.37. The amounts of the total bank balances are classified into three categories of credit risk:
Category 1 - Cash that is insured (e.g., Federal depository insurance) or collateralized with securities held by the Board or by the Board's agent in the Board's name.
- 14 -

JACKSON COUNTY BOARD OF EDUCATION

EXlilBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 2: DEPOSITS AND INVESTMENTS

Category 2 - Cash collateralized with securities held by the pledging financial institution's trust department or agent in the Board's name.
Category 3 - Uncollateralized deposits. {This includes any bank balance that is collateralized with securities held by the pledging financial institution, or by its trust department or agent but not in the Board's name.)

The Board's deposits are classified by risk category at June 30, 1995, as follows:

Risk Categozy

Bank Balance

l

$ 1,449,916.58

2

1,138,243.79

3

0.00

Total

$2,588,160.37

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.

At June 30, 1995, the carrying amount ofthe Board's total investments was $13,578,670.33.

Type oflnvestment U. S. Government
Local Government Investment Pools Total Investments
Undetenninable

Risk Categories

.2

3

Carrying Amount

Market Value

$ 5 661 300 12 $

000 $ = = ~0= 00 $ 5,661,300.12 $ 5 933232 04

7,917370.21



$13 5'.28 6'.Z0 33

- 15 -

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 2: DEPOSITS AND INVESTMENTS

The carrying amounts shown above includes amounts maintained in an investment pool by the State of Georgia, Office of Treasury and Fiscal Services in which the Board owns no identifiable securities. The . investment policy of the State of Georgia, Office of Treasury and Fiscal Services for the Local Government Investment Pool does not provide for investment in derivatives or similar investments.

Note 3: NON-MONETARY TRANSACTIONS

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

Note 4: RISK MANAGEMENT

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

The Board has obtained commercial insurance for risk of loss associated with torts, assets, errors and omissions, and job related illnesses or injuries to employees. The Board has neither significantly reduced coverage for these risks nor incurred losses (settlements) which exceeded the Board's insurance coverage in any of the past three years.

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

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

Beginning of Year Liability

Claims and Changes in Estimates

Claims Paid

End of Year Liability

1994 1995

$

0.00 $

0.00 $

0.00 $

0.00

$

0.00 $

2,155.00 $

2,155.00 $

0.00

- 16 -

JACKSON COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATE1\1ENTS

JUNE 30, 1995

Note 5: GENERAL LONG-TERM DEBT

CAPITAL LEASES The Jackson County Board ofEducation entered into an agreement on April 1, 1991, with the Georgia School Boards Association, (GSBA), Incorporated for the construction and subsequent lease of various school facilities. Under the terms ofthe lease agreement, the Board will make semi-annual payments through July 1, 2001. The lease includes an annual renewal clause.

The Jackson County Board ofEducation has entered into a lease agreement as lessee for computer equipment. Under the terms ofthe lease agreement the Board will make monthly payments to IBM Corporation through September, 2000.

These lease agreements qualify as capital leases for accounting purposes and, therefore, have been recorded at the present value ofthe future minimum lease payments as ofthe date of their inception.

The changes in General Long-Term Debt during the fiscal year ended June 30, 1995, were as follows:

Balance July l, 1994 Additions Deletions Balance June 30, 1995

General

Canital Leases

Obligation

GSBA

Other

Bonds

Total

s S 1,380,298.87

0.00 S 7,705,000.00 S 9,085,298.87

216,856.17 14,000,000.00 14,216,856.17

235,000.00

29J53.38

420,000.00

684J53.38

S 1 145298.87 s 187 502 79 $21285 000 00 s22 617 801 66

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
1996 1997 1998 1999 2000 2001 and thereafter
Total Principal and Interest

Canital Leases

GSBA

Other

General Obligation
Bonds

Total Debt.

s s 35,283.87
264,717.74 262,567.74 264,405.24 265,102.74 279,929.11

51,368.16 51,368.16 51,368.16 51,368.16 10,942.38

S 1,803,071.50 1,797,287.50 1,793,755.00 1,792,470.00 1,788,385.00
26~75,728.75

S 1,889,723.53 2,113,373.40 2,107,690.90 2,108,243.40 2,064,430.12
26,555,657.86

$. 1,372,006.44 $ 216,415.02 $35250 697 75 $36 839 i 19 21

Deduct: Imputed Interest

226,707.57

28,912.23

Net Present Value ofFuture Minimum Lease Payments

S 1145298 87 s 187 502 79

Principal and interest due July 1, 1995 on the GSBA capital lease was paid prior to June 30, 1995, and has been excluded from this note.

- 17 -

JACKSON COUNTY BOARD OF EDUCATION

EXIIlBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 6: PRIOR YEAR DEFEASE:MENT OF DEBT

In fiscal year 1994, 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 t}nancial statements. At June 30, 1995, $7,760,000.00 ofbonds 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 ofJune 30, 1995:

Project

Unearned Executed Contracts

Jackson County High School Stadium East Jackson Middle School West Jackson Middle School

$ 152,250.00 4,610,948.20 4,704,403.09

$9,467.601 29

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

Note 8: CONTINGENT LIABILITIES

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

The Board is a defendant in various legal proceedings pertaining to matters incidental to the performance of routine Board operations. The ultimate disposition ofthese proceedings is not presently determinable, but are not believed to be material to the general purpose financial statements.

Note 9: ACCUMULATED EMPLOYEES' LEAVE

The Board's administrative staffand certain other full-time employees earn .84 days per month of annual leave. Annual leave may be accumulated to a maximum of twenty days, and an amount based on unused leave, up to the maximum accumulation, is paid to employees, at their current rate of pay, upon retirement or termination of employment. See Note 1 - Compensated Absences

- 18 -

JACKSON COUNTY BOARD OF EDUCATION

EXIDBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

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 of employer contributions occurs, but the member's contributions are refunded with interest.

The Board's payroll for employees covered by TRS for the year ended June 30, 1995, was $11,015,373.36; total payroll was $12,848,614.00.

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%.

'

Total contributions made during fiscal year 1995 amounted to $1,851,687.07, ofwhich $1,300,914.63 was made by the Board and $550,772.44 was made by employees. These contributions represented 11.81% (Board) and 5% (employees) of covered payroll.

- 19 -

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 10: RETIREMENT PLANS

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 of TRS as of June 30, 1994, was as follows:

Total pension benefit obligation

$15,313,743,000.00

Net assets available for benefits, at cost

14,254,785,000.00

Unfunded pension benefit obligation

$ 1,058.958 000.00

The measurement ofthe total pension benefit obligation is based on an actuarial valuation as of June 30, 1994. Net assets available to pay pension benefits were valued as of the same date. TRS does not make separate measurements of assets and pension benefit obligation for individual employers.

Total contributions from all employers to TRS for fiscal year ended June 30, 1995 were $565,117,811.00. The Board's contribution for the year ended June 30, 1995 of $1,300,914.63 was actuarially determined and represented .2302% of total contributions made by all participating employers.

Ten year historical trend information is presented in the 1995 TRS Component Unit Financial Report. This information is useful in assessing TRS's accumulation of sufficient assets to pay pension benefits as they become due.

PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM OF GEORGIA (PSERS)

PSERS PLAN DESCRIPTION Substantially all bus drivers, maintenance, custodial, and lunchroom personnel employed by local school systems are covered by the Public School Employees Retirement System of Georgia (PSERS). All employer's contributions are made by the State of Georgia in accordance with State statute.

PSERS provides in accordance with State statute service retirement, disability retirement and survivors benefits for its members. A member is eligible for normal service retirement after 10 years of service and attainment ofage 65. A member applying for service retire~ent with 10 years of service and retires between

- 20 -

JACKSON COUNTY BOARD OF EDUCATION

EXHIBIT "D"

NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS

JUNE 30, 1995

Note 1O: RETIREMENT PLANS
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 of years of creditable service. Options are available for distribution ofthe 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 ofthe employee's contributions and interest are made to the beneficiary. Ifthere are more than ten years of service, the beneficiary shall receive for life half of what the employee would have received upon retirement.
Members become fully vested after ten years of service. If a member terminates with less than ten years of service, no vesting ofemployer contributions occurs, but the member's contributions are refunded with interest.
There were 144 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 $4,700.00. Total contribution for all school systems made by the State of Georgia to PSERS for fiscal year ended June 30, 1995, was $9,162,000.00.
Note 11: SURETY BONDS
The School Superintendent, Mr. Anderson S. Byers, is bonded in the amount of$50,000.00 with the General Accident Insurance Company of America, Philadelphia, Pennsylvania, their Bond No. SB9998920, on which premium is paid through June 15, 1997.

- 21 -

JACKSON COUNTY BOARD OF EDUCATION COMBINING BALANCE SHEET
SPECIAL REVENUE FUND
JUNE30 1995

~ Calh and Calh Equivalents Accounts Receivable Inventories
Food Donated Commodities Purchased Food
Total Assets

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED PROGRAM

JUVENILE JUSTICE DELINQUENCY PROGRAM

LOTTERY PROGRAMS

DRUG-FREE SCHOOLSAND COMMUNITIES
ACT

EDUCATION OF DEPRIVED CHILDREN

$ 59,926.96 $

0.00

$ 12,131.70 $

0.00

12,856.33

$

150.67

18,972.37

$

81,940.40

29,041.89 13,029.80

$ 114,854.98 $

0.00 $

150.67 $ 31,104.07 $

0.00 $

81,940.40

LIABILITIES !NP B.!NQ EQUlrl
LIABILITIES
Cash Overdraft Accounts Payable Salaries Payable Expired Grant Balances Payable
Total Liabilities
FUNPEQUlrl
Fund Balances Reserved For Continuation of Federal Programs For Inventories Food Donated Commodities Purchased Food
Unreserved Deficit Undesignated
Total Fund Equity

$ 31,967.37 73,057.17
$ 105,024.54
$ 29,041.89 13,029.80
$ 42,071.69 -32,241.25 0.00 $
$ 9,830.44 $

Total Liabilities and Fund Equity

$ 114,854.98 $

$

150.67

$ 31,104.07

$

150.67 $ 311104.07

0.00 $ 0.00 $

0.00 $ 0.00 $

0.00 $ 0.00 $

0.00 $

150.67 $ 31,104.07 $

$

636.56

22,415.68

58,888.16

$

81,940.40

0.00 $

0.00

0.00 $

0.00

0.00 $

81,940.40

See notes to the general purpose financial statements.

22 -

EXHIBIT"E"

ELEMENTARY AND SECONDARY EDUCATION ACT

TITLE U-

CHAPTER 1

EISENHOWER

CHAPTER2

MATHEMATICS

MIGRANT BLOCK GRANT - AND SCIENCE

PROGRAM FLOW THROUGH EDUCATION

$

3,576.06 $

0.00 $

446.17

INDMDUALS WITH

DISABILITIES EDUCATION ACT

mLEVl,B

FLOW

PRESCHOOL

THROUGH

PROGRAM

DEPENDENT CARE
PROGRAM

TOTALS JUNE 301 1995 JUNE 301 1994

.$

107.87 $

0.00 $ 76,188.76 $ 182,886.31

$

27,489.16

12,813.13

154,222.06

322,669.19

29,041.89 13,029.80

31,n3.35 14,496.64

$

3,576.06 $

0.00 $

446.17 $

27,489.16 $

12,921.00 $

0.00 $ 2n,4a2.51 $ 551,825.49

$

697.02

926.96

1,952.08

s 3,576.06

s

0.00 $

s

0.00 $

s 3,576.06 $

$

18,393.57

s

2.04

5,888.72 $

3,575.00

2,662.28

9,346.00

544.59

s

2.04 $

27,489.16 $

12,921.00

s

19,180.80 $

95,649.90

144,880.57

2,496.67

s 262,207.94 $

88,595.28 190,023.14 139,630.50
12,838.67
431,087.59

$
$ 0.00 0.00 $ 0.00 $

444.13

444.13
0.00 $ 444.13 $

0.00 $ 0.00 $

0.00 $ 0.00 $

446.17 $

27,489.16 $

12,921.00 $

s

444.13 $

23.94

s
0.00 0.00 $

29,041.89 13,029.80
42,515.82 $
-32,241.25 0.00
10,274.57 $

31,773.35 14,496.64
46,293.93
74,443.97 0.00
120,737.90

s 0.00 $ 2n,4a2.51

551,825.49

-23-

JACKSON 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 Revenue&
EXPENDITURES
Current ln&lruction Support Service& Pupil Service&
Improvement or Instructional Service&
Educational Media Service& General Admini&lration School Administration Bu&ine&& Administration Maintenance and Operation of Plant Student Transportation Service& Other Support Service& Food Service& Operation Community Service Operations Other Operation& of Non-Instructional Service&
Total Expenditure&
Excess of Revenue& over (under) Expenditure&
OT!::l~B FINANQING SOURCES
Operating Transfers In
Exce&& of RevenUe& and Other Financing Source& over (under) Expenditure&
FUND BALANC~ JUbY 1
Food lnvento,y Net Change in Period Donated Commodities Purchased Food

SCHOOL FOOD
SERVICES FUND

STATE PRESCHOOL HANDICAPPED
PROGRAM

JUVENILE JUSTICE DELINQUENCY PROGRAM

LOTTERY PROGRAMS

DRUG-FREE SCHOOLS AND Cotv'MUNITIES
ACT

EDUCATION OF DEPRIVED CHILDREN

$ 95,142.00 $ 874,474.87 548,451.62
$ 1,518,068.49 $

41,083.00 $ 41,083.00 $

3,629.92 $ 743,524.51 $

20,111.00 $

3,629.92 $ 743,524.51 $

20,111.00 $

524,661.09 524,661.09

$

1,226.09 $ 29,688.00 $

1,623,527.62

11,395.00

$ 1,624,753.71 $ $ -106,685.22 $

41,083.00 $ 0.00 $

1,565.23 $ 579,436.05

134,880.90 $ 13,134.41

1,494.02

5,324.33 2,546.00

74.77

6,880.56 3,016.05
623.78

$ 20,051.25
59.75

495.90 3,629.92 $ 745,842.08 $
0.00 $ -2,317.57 $

20,111.00 $ 0.00 $

494,733.66 28,173.04
1,270.58
497.00
524,674.28 -13.19

$ -106,685.22 $ 120,713.96
-2,731.46 -1,466.84

0.00 $ 0.00

2,317.57

0.00 $ 0.00

0.00 $ 0.00

0.00 $ 0.00

13.19
0.00 0.00

FUND BALANCE JUNE 30

$

9,830.44 $

0.00 $

0.00 $

0.00 $

0.00 $

0.00

See note& to the general purpose financial statements.

-24-

EXHIBIT"F"

ELEMENTARY ANO SECONDARY EDUCATION ACT

TITLE II

CHAPTER1

EISENHOWER

CHAPTER2

MATHEMATICS

MIGRANT BLOCK GRANT AND SCIENCE

PROGRAM FLOW THROUGH EDUCATION

INDMDUALS WITH

DISABILITIES EDUCATION ACT

TITLEVI, B

FLOW

PRESCHOOL

THROUGH

PROGRAM

DEPENDENT
CARE
PROGRAM

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 30, 1994

s 13,217.57 $

37,856.00 $

$ 13,217.57 $ _ _ _3~7,'-856_.00_ $

11,945.20 $ 231,412.57 $

52,794.40 $

11,945.20 $ 231,412.57 $

52,794.40 $

$ 14,985.96

883,379.43 $ 1,781,458.66
548,451.62

773,266.16 1,685,075.99
506,059.27

14,985.96 $ 3,213,289.71 $ 2,964,401.42

$ 13,217.57 $

$ 13,217.57 $

$

0.00 $

$

0.00 $

0.00

$

0.00 $

39,256.61 116.34 $ 95.05
39,468.00 $ -1,612.00 $

$
11,495.83 29.18

41,868.75 $
23,567.77 25,804.96
8,372.20 430.00

8,000.00 118,328.50
5,040.39

11,525.01 $ 420.19 $

231,412.57 $ 0.00 $

39,434.95 $
13,359.45 52,794.40 $
0.00 $

13,850.34 $ 1,254,277.25 $ 1,230,702.74

375.13
192.00 100.52 2,067.95

178,875.05 78,724.58
15,343.09 4,470.02
100.52 8,948.51 11,090.82 144,203.73 1,623,527.62 5,040.39

130,661.15 63,890.19 22,652.17 5,805.72 2,400.00
14.04 7,815.56 8,030.90 121,374.05 1,386,996.51 2,902.80

495.90

16,585.94 $ 3,325,097.48 $ 2,983,245.83

-1,599.98 $ -111,807.77 $ -18,844.41

1,612.00
0.00 $ 0.00

420.19 $ 23.94

0.00 $ 0.00

0.00 S
0.00

1,599.98

5,542.74

1,757.00

0.00 $ 0.00

-106,265.03 $ 120,737.90

-17,087.41 128,940.76

-2,731.46 -1,466.84

5,632.90 3,251.65

0.00 $

444.13 $

0.00 $

0.00 $

0.00 S

10,274.57 $ 120,737.90

-25-

,!AQ~QN QQU!::II):'. !;!QABQ QF EQUQAIIQN
COM!;!ININ!:.? BALANQE !::l!;f;I
QAflT81. eBQ,!EQT EUND ,!UNE 30, 1995

EXHIBIT"G"

~ Cash and Cash Equivalents Investments

REGULAR $ 16,704.30

1994 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT ASS-678-061

LOTTERY PROJECT 96/95S-678-047

TOTALS JUNE 30, 1995 JUNE 30, 1994

$

1,ns.00 s

46,576.00 $

65,009.30 $ 20,432.90

$ 11,888,976.76

11,888,976.76

Total Assets

$ 16,704.30 $ 11,888,976.76 $

1,ns.00 $

46,576.00 $ 11,953,986.06 $

20,432.90

L!AalLIIlfi!i At:!D EUND f;Q!-!IIY L~ILII!fi!i

Cash Overdraft Accounts Payable Contracts Payable Retainages Payable

$

56,879.01

39,660.66

64,931.41

56,535.16

Total Liabilities

$

218,006.24

EUNDEOUITY

Fund Balances Reserved For Purposes of Bond Issue For State Capital Outlay Projects

$ 11,670,970.52 $

Unreserved Undesignated

$ 11,670,970.52 $

$ 16,704.30

0.00

Total Fund Equity

$ 16,704.30 $ 11,670,970.52 $

$

56,879.01

39,660.66

64,931.41

56,535.16

$ 218,006.24

1,729.00 $ 1,729.00 $
0.00 1,729.00 $

$ 11,670,970.52

46,576.00

48,305.00 $

46,576.00 $ 11,719,275.52 $

0.00

16,704.30

46,576.00 $ 11,735,979.82 $

1,ns.00 1,729.00 18,703.90 20,432.90

Total Liabilities and Fund Equity $ 16,704.30 $ 11,888,976.76 $

1,ns.00 $

46,576.00 $ 11,953,986.06 $

20,432.90

See notes to the general purpose financial statements.

-26

JACKSON COUNTY BOARD QF EDUCATION
COMBINING STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES CAPITAL PROJECTS FUND
YEAR ENDED JUNE 30 1995

EXHIBIT "H"

BMNUES
Local and Other Funds
ExpENDIIURES
Current Support Services Business Administration Dues and Fees Bond Issuance Cost
Capital Outlay Land and Land Improvements Building and Building Improvements
Total Expenditures
Exce&& of Revenues over (under) Expenditures
Oil:lEB Fl~CING SOURCES {YSESl
Proceed& from General Obligation Bonds Par Value
Operating Transfers In Operating Transfers Out
Total Other Financing Sources (Uses)
Excess of Revenues and Other Financing Sources over (under) Expenditures and Other Financing Uses
FUND BALANCE JULY 1

REGULAR

1994 BOND ISSUE
FUND

GEORGIA STATE FINANCING AND
INVESTMENT COMMISSION
PROJECT ASS-678-061

LOTTERY PROJECT 96/95S-678-047

TOTALS YEAR ENDED JUNE 30, 1995 JUNE 301 1994

$

0.00 $ 355,394.84 $

0.00 $

0.00 $

355,394.84 $

937.37

$

7.95 $

299,572.27

$ 1,999.60

1,398,004.02 940,264.08

$ 1,999.60 $ 2,637,848.32 $

$ -1,999.60 $ -2,282,453.48 $

0.00 $
0.00 $ 0.00 $

0.00 $

7.95 299,572.27

1,398,004.02 942,263.68 $

0.00 $ 2,639,847.92 $

8,731.46 8,731.46

0.00 $ -2,284,453.08 $

-7,794.09

$ 14,000,000.00 -46,576.00
$ 13,953,424.00

$ -1,999.60 $ 11,670,970.52 $

18,703.90

0.00

$ 14,000,000.00

$

46,576.00

46,576.00

-46,576.00

$

46,576.00 $ 14,000,000.00

0.00 $ 1 729.00

46,576.00 $ 11,715,546.92 $

0.00

20,432.90

-7,794.09 28,226.99

F!,!ND BALANCE JUNE 30

$ 16,704.30 $ 11,670,970.52 $

1,729.00 $

46576.00 $ 11,735,979.82 $ 201432.90

See notes to the general purpose financial statements.

-27-

JACKSON COUNTY BOARD Of EDUCATION SCHEDULE OF FEDERAL ffNANCJAL ASSISTANCE
YEAR ENDED JUNE 30.1995

SCHEDULE 1

FUNDING AGENCY PROGRAM/GRANT

CFDA

AWARDS

NUMBER IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Agriculture, U.S. Department of Direct Food and Nutrition Program Food Services Summer Food Services Program 1994Summer 1995Summer Through Georgia Department of Education Food and Nutrition Program Food Services School Breakfast Program 1994Grant 1995 Grant National School Lunch Program 1994 Grant 1995 Grant Food Distribution Program (1)

10.559 10.559 $

$ 7,853.90

10.553 10.553
* 10.555 * 10.555
10.550

204,808.51
561,845.93 98,189.69

8,397.39 $

8,397.39 $ 1,233.35

8,397.39 1,233.35

5,867.04 199,447.76
5,184.60 555,596.70 N/A

204,808.51
561,845.93 98,189.69

(2)
1,516,933.28 (3) 98,189.69

Total U.S. Department of Agriculture

$ 872,698.03 $

n4493.49 $ 874,474.87 $ 1,624,753.71

Education, U.S. Department of Through Georgia Department of Education Drug-Free Schools and Communities Act 1994 Grant 1995 Grant Elementary and Secondary Education Act Chapter 1 Education of Deprived Children 1993 Carry-Over 1994 Regular 1994Summer 1994 Carry-Over 1995 Regular 1995Summer Chapter2 Block Grant - Flow Through 1995 Regular Innovative Programs 1995 Regular Title II Eisenhower Mathematics and Science Education 1993 Regular 1995 Regular Individuals with Disabilities Education Act TitleVl,B Flow Through 1994 Regular 1994 Carry-Over 1995 Regular Preschool Program 1994 Regular 1994 Carry-Over 1995 Regular

84.186 84.186 $
* 84.010 * 84.010 * 84.010 * 84.010 84.010 84.010
84.151 84.151
84.164 84.164
84.027 84.027 84.027 84.173 84.173 84.173

$ 20,111.00
34,155.00 467,983.00
21,438.00 25,606.00 13,862.00
15,225.00
11,357.00 226,746.00
4,315.00 49,700.00

-865.06 20,111.00 $

20,111.00 $

20,111.00

-7,888.32 68,836.98
3,450.00 34,155.00 384,481.57 21,438.00

2,646.12 34,155.00 466,421.97 21,438.00

25,606.00 12,250.00

25,606.00 12,250.00

2,659.31 (3) 34,155.00 466,421.97 21,438.00
25,606.00
13,862.00 (3)

-23.94 11,969.14

-23.94 11,969.14

11,525.01

14,995.10 7,691.00 196,m.oo
2,738.04 4,315.00 35,666.27

11,357.00 220,055.57
4,315.00 48,479.40

11,357.00 220,055.57
4,315.00 48,479.40

- 28 -

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE
YEAR ENDED JUNE 30. 1995

SCHEDULE 1

FUNDING AGENCY PROGRAM/GRANT

CFDA

AWARDS

NUMBER IN PERIOD

FEDERAL FUNDS RECEIVED IN PERIOD(NET OF REFUNDS)

FEDERAL REVENUE IN PERIOD

EXPENDITURES IN PERIOD

Education, U. S. Department of Through Georgia Department of Education Vocational Education - Basic Grants to States High School Program Basic Grant 1994 Grant 1995 Grant Consumer and Homemaking Education 1994 Contract 1995 Contract Tech-Prep Education 1995 Grant Through Hall County Board of Education d/b/a Piedmont Migrant Education Agency Elementary and Secondary Education Act Chapter 1 Migratory Education Program 1994 Regular 1995 Regular

84.048 84.048 $ 84.049 84.049 84.243
84.011 84.011

$ 68.H0.82
2,895.00 7,574.00
15,169.65

51,744.00 31,215.00 $
912.00 2,558.00
4,075.00

68,110.82 $
2,895.00 7,574.00

68,110.82
2,895.00 7,574.00

-718.22 15,169.65

13,217.57

13,217.57

Total U.S. Department of Education

$ 984,247.47 $

940,658.21 $ 970,Sn.65 $ 971,782.65

Health and Human Services. U. S. Department of

Through Georgia Department of Human Resources

Dependent Care Program

1994 Regular

93.673

$

15,000.00 $ 14,985.96 $

16,585.94 (3)

Total Federal Financial Assistance

$ 1,856,945.50 $ 1,730,151.70 $ 1,860,038.48 $ 2,613,122.30

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

(1) The amounts shown for the Food Distribution Program represents the Federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year.
(2) Expenditures for the School Breakfast Program were not maintained separately and are included in the 1995 National School Lunch Program.
(3) Expenditures for this program include State. and/or Local and Other Funds. Expenditures are not maintained by fund source.

See notes to the general purpose financial statements.

- 29 -

JACKSON COUNTY BOARD OF EDUCATION CASH AND CASH EQUIVALENTS JUNE 30, 1995
INTEREST BEARING ACCOUNTS
First Commerce Bank, Commerce, Georgia
N.O.W. Accounts (Variable)
First National Bank of Jackson County, Jefferson, Georgia
N.O.W. Accounts (2.35%)

SCHEDULE "2"
$ 119,051.82 1,396,466.70
$ 1,515,518.52

See notes to the general purpose financial statements. - 30 -

JACKSON COUNTY BOARD OF EDUCATION INVESTMENTS JUNE 30, 1995
U.S. GOVERNMENT OBLIGATIONS First Union National Bank of Georgia, Charlotte, North Carolina U.S. Treasury Strips due May 15, 1996 (5.09%)
INVESTMENT POOL State of Georgia, Office of Treasury and Fiscal Services Local Government Investment Pool (6.032%)

SCHEDULE "3"
$ 5,661,300.12 7,917,370.21
$ 13,578,670.33

See notes to the general purpose financial statements. - 31 -

8a\J~\(
fa- ~2_

JACKSON COUNTY BOARD OF EDUCATION ACCOUNTS RECEIVABLE JUNE 30, 1995

SCHEDULE "4"

Agriculture, U. S. Department of Summer Food Services Program
Education, Georgia Department of Food Services School Breakfast Program National School Lunch Program Vocational Education State Funds Federal Funds Lottery Programs Alternative School Program Distant Learning Instructional Technology Federal Programs ESEA Chapter 1 Education of Deprived Children lndMduals with Disabilities Education Act - Title VI, B Flow Through Preschool Program
Elmore County Board of Education Reimbursement for Services
Governor, Office of Juvenile Justice Delinquency Program
Jackson County High School Athletic Supplies and Equipment
Jackson County Middle School Reimbursement for Salaries
Jackson County Regional Evening School Reimbursement for Salaries Tuition
Jackson County Tax Commissioner County Wide Bond Tax County Wide School Tax
Other

GOVERNMENTAL FUND TYPES

SPECIAL

DEBT

GENERAL

REVENUE

SERVICE

FUND

FUND

FUND

TOTAL

$

1,233.35

$

1,233.35

$

10,438.00

40,731.82

5,360.75 6,249.23
2,546.00 7,700.00 8,726.37

5,360.75 6,249.23
10,438.00 40,731.82
2,546.00 7,700.00 8,726.37

192.85
10,567.63 152.40
7,683.13 5,018.50 128,932.30

81,940.40 27,489.16 12,813.13
150.67

$

49,182.55

13.00

81,940.40
27,489.16 12,813.13
192.85
150.67
10,567.63
152.40
7,683.13 5,018.50
49,182.55 128,932.30
13.00

$ 203,716.63 $ 154,222.06 $

49,182.55 $ 407,121.24

See notes to the general purpose financial statements.

- 33 -

PAYMENTS DUE IN FISCAL YEAR ENDING JUNE 30
1996 1997
1998
1999 2000
2001 2002
2003
2004
2005
2006 2007 2008 2009 2010
2011 .2012 2013 2014 2015

JACKSON COUNTY BOARD OF EDUCATION DEBT SERVICE REQUIREMENTS TO MATURITY
JUNE 30, 1995

TOTAL DEBT SERVICE

TOTAL INTEREST

TOTAL PRINCIPAL

$ 1,803,071.50 $ 1,123,071.50 $

1,797,287.50

1,097,287.50

1,793,755.00

1,068,755.00

1,792,470.00

1,037,470.00

1,788,385.00

1,003,385.00

680,000.00 700,000.00 725,000.00 755,000.00 785,000.00

1,786,516.25 1,781,787.50 1,779, 120.00 1,773,300.00 1,769,092.50

966,516.25 926,787.50 884,120.00 838,300.00 789,092.50

820,000.00 855,000.00 895,000.00 935,000.00 980,000.00

1,766,117.50 1,759,290.00 1,758,387.50 1,752,635.00 1,746,750.00

736,117.50 679,290.00 618,387.50 552,635.00 481,750.00

1,030,000.00 1,080,000.00 1,140,000.00 1,200,000.00 1,265,000.00

1,740,682.50 1,729,150.00 1,722,450.00 1,710,950.00 1,699,500.00

405,682.50 324,150.00 237,450.00 145,950.00
49,500.00

1,335,000.00 1,405,000.00 1,485,000.00 1,565,000.00 11650,000.00

$ 35,250,697.75 $ 13,965,697.75 $ 21,285,000.00

CHANGES IN GENERAL LONG-TERM DEBT Bonds Payable at July 1, 1994 Bonds Issued During Period Bonds Retired During Period
Bonds Payable at June 30, 1995

TOTAL

1994 ISSUE

$ 7,705,000.00

14,000,000.00 $ 14,000,000.00

420,000.00

$ 21,285,000.00 $ 14,000,000.00

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

See notes to the general purpose financial statements.

- 34 -

JAN 1 - JUL 1 JUL 1

SCHEDULE "5"

1994 ISSUE

INTEREST

PRINCIPAL

1993 ISSUE

INTEREST

PRINCIPAL

$ 784,996.50 $ 250,000.00 $ 338,075.00 $ 430,000.00

775,081.25

255,000.00

322,206.25

445,000.00

764,092.50

265,000.00

304,662.50

460,000.00

752,207.50

275,000.00

285,262.50

480,000.00

739,322.50

285,000.00

264,062.50

500,000.00

725,397.50 710,420.00 694,382.50 677,385.00 659,400.00

295,000.00 310,000.00 325,000.00 335,000.00 350,000.00

241,118.75 216,367.50 189,737.50 160,915.00 129,692.50

525,000.00 545,000.00 570,000.00 600,000.00 630,000.00

640,270.00 619,965.00 598,175.00 552,635.00 481,750.00

365,000.00 380,000.00 405,000.00 1,200,000.00 1,265,000.00

95,847.50 59,325.00 20,212.50

665,000.00 700,000.00 735,000.00

405,682.50 324,150.00 237,450.00 145,950.00 491500.00

1,335,000.00 1,405,000.00 1,485,000.00 1,565,000.00 1,650,000.00

$ 11,338,212.75 $ 14,000,000.00 $ 2,627,485.00 $ 7,285,000.00

1993 ISSUE $ 7,705,000.00

420,000.00

$ 7,285,000.00

JAN 1 -JUL 1 JUL 1

- 35 -

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF STATE REVENUE YEAR ENDED JUNE 30, 1995

SCHEDULE "6"

AGENCY/FUNDING
GRANTS Education, Georgia Department of Quality Basic Education General and Career Education Programs Special Education Programs Remedial Education Program Media Center Programs Staff Development Programs Indirect Cost Pupil Transportation Regular Bus Replacement Limited English Speaking Middle School Incentive Special Instructional Assistance In-School Suspension School Counselors Grades 4 and 5 Mid-term Adjustment Local Fair Share Educational Equalization Funding Grant Food Services Vocational Education Other State Programs Alternative Pr09rams At-Risk Summer School Program Environmental Science Program Innovative Programs Mentor Teacher Program Next Generation Schools Preschool Handicapped Program Remedial Summer School Program Teachers' Retirement Lottery Programs Alternative School Program Distant Learning Instructional Technology Media Center and Library Equipment Next Generation Schools Pre-Kindergarten Program Safe Schools Grant
Governor, Office of Children and Youth Coordinating Council Juvenile Justice Delinquency Prevention and Treatment Grant Program
OTHER Education, Georgia Department of Governor's School Leadership Institute

GOVERNMENTAL FUND TYPES

SPECIAL

GENERAL

REVENUE

FUND

FUND

TOTAL

$ 6,753,767.00 1,697,285.00 143,318.00 296,536.00 104,670.00 2,062,333.00
688,103.00 182,309.00
17,475.00 261,335.00 355,350.00
65,862.00 19,971.00 159,443.00 -1,781,901.00 636,733.00
$ 168,962.00
91,836.98 14,908.14
500.00 4,800.00 5,290.00 78,231.17
5,845.91 17,075.37

$ 6,753,767.00 1,697,285.00 143,318.00 296,536.00 104,670.00 2,062,333.00

95,142.00

688,103.00 182,309.00
17,475.00 261,335.00 355,350.00
65,862.00 19,971.00 159,443.00 -1,781,901.00 636,733.00 95,142.00 168,962.00

41,083.00

91,836.98 14,908.14
500.00 4,800.00 5,290.00 78,231.17 41,083.00 5,845.91 17,075.37

127,546.00 9,275.43
15,591.64 4,875.69
55,000.00 517,187.00
14,048.75

127,546.00 9,275.43
15,591.64 4,875.69
55,000.00 517,187.00
14,048.75

1,000.00

3,629.92

3,629.92 1,000.00

See notes to the general purpose financial statements.

$ 12,051,038.57 $

883,379.43 $ 12,934,418.00

- 36 -

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF LOCAL AND OTHER REVENUE
YEAR ENDED JUNE 30, 1995

SCHEDULE '7"

Taxes County Wide Bond Tax County Wide School Tax Railroad Car Tax Real Estate Transfer Tax
Other Commodity Rebates Donations Interest Earned Lost and Damaged Books Recovery of Prior Year Questioned Cost Theft of Funds Reimbursements for Salaries Rents Sales Adult Lunches and Breakfasts School Assets Supplemental Shared Service Contributions Banks County Board of Education Barrow County Board of Education City of Commerce Board of Education City of Jefferson Board of Education Tuition Other

GENERAL FUND

GOVERNMENTAL FUND TYPES

SPECIAL

CAPITAL

REVENUE PROJECTS

FUND

FUND

DEBT SERVICE
FUND

TOTAL

$ 4,772,128.40 6,792.05 17,910.60

$ 1,730,432.36 $ 1,730,432.36

4,772,128.40

2,512.12

9,304.17

6,624.47

24,535.07

2,460.26 12,383.16 83,202.86 $
2,644.15

2,856.13 $ 355,394.84

.35,487.34 2,400.00

90.00

25,555.86

81,739.95 384,594.11
6,000.00 73,171.43

11,403.00 30,000.00 40,116.65 76,034.33 87,511.69
5,754.09

55,048.26

2,460.26 12,383.16 496,502.09
2,644.15
90.00 35,487.34
2,400.00
81,739.95 384,594.11
31,555.86 73,171.43
11,403.00 30,000.00 40,116.65 76,034.33 87,511.69
5,754.09

$ 5,211,784.44 $ 548,451.62 $ 355,394.84 $ 1,794,617.21 $ 7,910,248.11

See notes to the general purpose financial statements.

- 37 -

ts tctv__l
to -3?

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT GENERAL AND SPECIAL REVENUE FUNDS
YEAR ENDED JUNE 30, 1995

SCHEDULE N8N

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

GENERAL FUND

SPECIAL REVENUE
FUND

TOTAL

$ 11,507,045.71 $
3,171,598.07 58,083.89
109,092.74 8,550.00
51,273.40 102,143.53
546.00 9,322.80 77,457.13 120,636.26
164,954.04 11,519.47
729,973.57 533,046.93
161,778.08 29,839.70
2,082.93

1,341,568.29 $
340,374.35 20,998.56 57,406.01
1,617.00 13,162.42
7,178.00 279.42 58.91
9,444.06 5,972.46 143,082.95 16,157.63 295,177.11 1,394.25 757,589.59 6,571.43 10,422.91
277.00

12,848,614.00 3,511,972.42 79,082.45 166,498.75 8,550.00 52,890.40 115,305.95 546.00 16,500.80 77,736.55 120,695.17 9,444.06 5,972.46 308,036.99 27,677.10 1,025,150.68 534,441.18 757,589.59 168,349.51 40,262.61 2,359.93

356,770.86 1,795.52
802,648.99

296,365.13

356,770.86 1,795.52
1,099,014.12

Total Expenditures

$ 18,010,159.62 $ 3,325,097.48 $ 21,335,257.10

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

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT
LOTTERY PROGRAMS YEAR ENDED JUNE 30, 1995

EXPENDITURES
Operating Costs Salaries Employee Benefits Travel of Employees
Professional and Technical Services Insurance Communications Other Purchased Services Supplies Books, Textbooks and Periodicals Dues and Fees
Nonoperating Costs Equipment
Total Expenditures

ALTERNATIVE SCHOOL PROGRAM

DISTANT LEARNING

INSTRUCTIONAL TECHNOLOGY

$

9,317.00 $

1,406.80

$ 127,546.00

14,775.57

$ 127,546.00 $

9,317.00 $ ====1=6,1=82=.3=7

See notes to the general purpose financial statements. - 40 -

SCHEDULE "9"

MEDIA CENTER AND
LIBRARY EQUIPMENT

NEXT GENERATION
SCHOOLS

PRE-KINDERGARTEN PROGRAM

SAFE SCHOOLS
GRANT

TOTAL

$

$

6,149.15

$

55,000.00

$

6,149.15 $

55,000.00 $

332,053.55 91,422.70 9,060.41 185.00 279.42 7.26 8,100.39 47,889.77 $ 3,480.86 1,605.00
23,102.64

$ 7,580.00

332,053.55 91,422.70 9,060.41 185.00 279.42 7.26 8,100.39 72,342.72 3,480.86 1,605.00

6,880.56

227,304.77

517,187.00 $

14,460.56 $ 745,842.08

- 41 -

EXPENDITURES
Operating Costs Supplies

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES BY OBJECT FIDUCIARY FUND TYPE - EXPENDABLE TRUST FUND
YEAR ENDED JUNE 30, 1995

SCHEDULE "1 O" $ = = =16=8.5=0

See notes to the general purpose financial statements.
- 42 -

JACKSON COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS - OVERALL
GENERAL FUND - QUALITY BASIC EDUCATION PROGRAMS YEAR ENDED JUNE 30, 1995

SCHEDULE "11"

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

THIRTEEN WEIGHTED AND MEDIA CENTER
PROGRAMS

100% TEST FOR OPERATIONS PORTION OF THIRTEEN WEIGHTED PROGRAMS

$ 9,050,349.00 $

316,259.00

$ 9,518,458.90 470,747.06 $ _ _ _4:...;.1~1,,;;,,;39;..;:;0=.6-=-2
$ 9,989,205.96

-145,844.69 $ 9,843,361.27

$

0.00 $ ======0=00=

See notes to the general purpose financial statements. - 43 -

JACKSON COUNTY BOARD OF EDUCATION ANALYSIS OF MINIMUM EXPENDITURE REQUIREMENTS BY PROGRAM
GENERAL FUND QUALITY BASIC EDUCATION PROGRAMS
YEAR ENDED JUNE 30 1995

!iENEB&. ~Q C~EER EQYCATIQN PROGRAMS
Kindergarten r)
Grades 1-3r) Sub-Total K-3
Grades 4 5 r)
Grades 6. 8 (*) Grades 9 -12 (*) High School Laboratories (*) Vocational Education Laboratories (*)
Total General and Career Education Programs SPECIAL EDUCATION PROGRAMS
Regular Programs Category I (*) Category II (*) Category Ill (*) Category IV (*) Sub-Total Regular
Category V (Gifted) r)
Total Special Education Programs REMEDIAL ED!,!CATION PROGRAM (*l
Total Thirteen Weighted Programs MEDIA CENTER PROGRAMS
Salaries Operations
Total Media Center Programs
Total Thirteen Weighted and Media Center Programs

ALLOTMENTS FROM DEPARTMENT OF EDUCATION

REQUIRED

ORIGINAL

416

ORIGINAL

MID-TERM

$

714,044.00

$

642,639.60 $

1,792,289.00

1,613,060.10

$ 2,506,333.00 90 $ 2,255,699.70 $

908,819.00 90

817,937.10

1,514,399.00 90

1,362,959.10

840,726.00 90

756,653.40

497,835.00 90

448,051.50

485,655.00 90

437,089.50

$ 6,753,767.00

$ 6,078,390.30 $

0.00 0.00 59,443.00 100,000.00
159,443.00

$ 1,671,903.00

$ 1,504,712.70 $

0.00

$ 1,671,903.00 90 $ 1,504,712.70 $

25,382.00 90

22,843.80

$ 1,697,285.00

$ 1,527,556.50 $

$

143,318.00 90 $

128,986.20 $

$ 8,594,370.00

$ 7,734,933.00 $

0.00
0.00 0.00 159,443.00

$

230,602.00 90 $

207,541.80 $

0.00

65,934.00 90

59,340.60

$

296,536.00

$

266,882.40 $

0.00

$ 8,890,906.00

$ 8,001,815.40 $

159,443.00

STAFF DEVELOPMENT PROGRAMS Cost of Instruction Professional Development
Total Staff Development (*) Identifies Thirteen Weighted Programs. See notes to the general purpose financial statements.

$

24,589.00

$

24,589.00 $

0.00

80,081.00

80,081.00

0.00

$

104,670.00 100 $

104,670.00 $

0.00

=====

44 -

SCHEDULE "12"

TOTAL REQUIRED

ACTUAL EXPENDITURES

SALARIES

OPERATIONS

TOTAL

AMOUNT OF UNDEREXPENDITURE
FOR REQUIRED ALLOTMENT

$

642,639.60 $

800,185.13 $

19,752.89 $

819,938.02

1,613,060.10

1,831,227.18

91,850.01

1,923,077.19

$ 2,255,699.70 $ 2,631,412.31 $

111,602.90 $ 2,743,015.21 $

0.00

817,937.10

1,070,878.57

22,206.16

1,093,084.73

0.00

1,422,402.10

1,526,860.65

67,508.46

1,594,369.11

0.00

856,653.40

1,034,531.80

103,567.93

1,138,099.73

0.00

448,051.50

428,074.99

20,238.78

448,313.77

0.00

437,089.50

597,708.52

49,795.91

647,504.43

0.00

$ 6,237,833.30 $ 7,289,466.84 $

374,920.14 $ 7,664,386.98

$ 1,504,712.70 $

74,365.82 289,245.83 $ 1,261,097.28 33,080.55

$ 4,927.11 24,330.55 1,374.73

74,365.82 294,172.94 1,285,427.83
34,455.28

$ 1,504,712.70 $ 1,657,789.48 $

30,632.39 $ 1,688,421.87

0.00

22,843.80

63,041.46

1,876.78

64,918.24

0.00

$ 1,527,556.50 $ 1,720,830.94 $

32,509.17 $ 1,753,340.11

$

128,986.20 $

125,136.87 $

3,961.31 $

129,098.18

0.00

$ 7,894,376.00 $ 9,135,434.65 $

411,390.62 $ 9,546,825.27

$

207,541.80 $

383,024.25

$

383,024.25

0.00

59,340.60 - - - - - - $ _ _ _5...;9,_35_6_.4_4_

59,356.44

0.00

$

266,882.40 $

383,024.25 $

59,356.44 $ _ _44_2...._,.,38_ 0.6_9

$ 8,161,258.40 $ 9,518,458.90 $

470,747.06 $ 9,989,205.96 $

0.00

=======

$

24,589.00

80,081.00

s ==1=04=,6=1=0=.oo=

$

52,352.88 $

52,352.88

52,317.12

52,317.12

$

104,670.00 $

s 104,670.00 = = = = = = o.o..o.==

45

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF COMPENSATION OF BOARD MEMBERS
YEAR ENDED JUNE 30, 1995

SCHEDULE "13"

BOARD MEMBER ADDRESS
Ms. Emma Baerne, Chairperson (*) 3688 New Kings Bridge Road Nicholson, Georgia 30565
Mr. Bob Bates (*) P. 0. Box 123 Pendergrass, Georgia 30567
Mr. Jeff Carr 639 Deadwyler Road Maysville, Georgia 30558
Mr. Barry Cronic (*) 95 Hoyt Wood Road Braselton, Georgia 30517
Mr. Mike Erwin (*) 180 Unity Church Circle Maysville, Georgia 30558
Mr. Charles Harris (*) 3329 Brockton Loop Road Jefferson, Georgia 30549
Mr. Arthur Parr 3287 Athens Highway Jefferson, Georgia 30549
Ms. Julia Shirley 3385 Lyle Field Road Jefferson, Georgia 30549

$

1,700.00

1,000.00

800.00

1,600.00

700.00

1,100.00

750.00

900.00

(*) Denotes Board Members Serving as of June 30, 1995

$ = = = =8,5=50=.0=0

See notes to the general purpose financial statements. - 46 -

SECTION II COMPLIANCE

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Jackson County Board ofEducation
COMPLIANCE REPORT BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Jackson County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated July 30, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
Compliance with laws, regulations, contracts, and grants applicable to the Jackson County Board ofEducation is the responsibility ofthe Board's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the Board's compliance with certain provisions oflaws, regulations, contracts, and grants. However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.

95CRL-10

The results ofour tests disclosed no instances of noncompliance that are required to be reported herein under Government Auditing Standards.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp 95CRL-10

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation.
and Superintendent and Members ofthe Jackson County Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Jackson County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated July 30, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have applied procedures to test the Jackson County Board of Education's compliance with the following requirements applicable to each of its Federal financial assistance programs, which are listed in the Schedule ofFederal Financial Assistance, for the year ended June 30, 1995:

( 1) Political Activity

(5) Allowable Costs/Cost Principles

(2) Civil Rights

(6) Drug-Free Workplace Act

(3) Cash Management

(7) Audit Follow-Up/Resolution

(4) Federal Financial Reports

(8) Administrative Requirements

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

95CRL-40

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph ofthis report. With respect to items not . tested, nothing came to our attention that caused us to believe that the Jackson County Board ofEducation had not complied, in all material respects, with those requirements.
This report is intended for the information of management, the Federal cognizant audit agency and other
Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a
matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp 95CRL-40

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Jackson County Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Jackson County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated July 30, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

We have also audited the Jackson County Board ofEducation's compliance with the requirements governing:

(1) Types of Services Allowed or Unallowed

(5) Applicable Special Tests and Provisions

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

(6) Other Requirement Claims for Advances and Reimbursements

(4) Reporting

These requirements are applicable to the major Federal financial assistance programs, which are identified in the Schedule of Federal Financial Assistance, for the year ended June 30, 1995. The management of the Jackson County Board of Education is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit.

95CRL-90

Except as discussed in the following paragraph, we conducted our audit of compliance in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and Office of Management and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the Board's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion.
We did not observe the taking of either the Federal donated commodities inventory or the purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures. However, this matter has no affect on the Board's compliance with the requirements listed in the second paragraph of this report.
The results ofour audit procedures disclosed an immaterial instance of noncompliance with the requirements referred to above which is described in the Schedule of Findings and Improper or Questioned Costs. We considered this instance of noncompliance in forming our opinion on compliance, which is expressed in the following paragraph.
In our opinion, the Jackson County Board of Education complied, in all material respects, with the requirements as disclosed in the second paragraph that are applicable to its major Federal financial assistance programs for the year ended June 30, 1995.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Re~~~

CLV:gp 95CRL-90

Claude L. Vickers State Auditor

CLAUDE L. VICKERS
STAlE AUDITOR
(404) 656-217'4

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members of the Jackson County Board ofEducation

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

Ladies and Gentlemen:

We have audited the general purpose financial statements ofthe Jackson County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated July 30, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.

In connection with our audit ofthe fiscal year 1995 general purpose financial statements of the Jackson County Board of Education and with our consideration of the Board's internal control structure used to administer Federal financial assistance programs, as required by Office of Management and Budget (0MB) Circular A128, "Audits of State and Local Governments", we selected certain transactions applicable to certain nonmajor Federal financial assistance programs for the year ended June 30, 1995. As required by 0MB Circular A-128, we have performed auditing procedures on the selected transactions to test compliance with the requirements governmg:

(I) Types of Services Allowed or Unallowed

(3) Applicable Special Tests and Provisions

(2) Eligibility

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

95CRL-130

With respect to the items tested, the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Jackson County Board ofEducation had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed an immaterial instance ofnoncompliance with those requirements, which is described in the Schedule ofFindings and Improper or Questioned Costs.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp
95CRL-130

SECTION III INTERNAL CONTROL

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members of the General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Jackson County Board ofEducation
REPORT ON INTERNAL CONTROL STRUCTURE IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Jackson County Board of Education as of and for the year ended June 30, 1995, and have issued our report thereon dated July 30, 1996. This report was qualified for a scope limitation and for various departures from generally accepted accounting principles, as identified in the auditor's report on the general purpose financial statements.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted
auditing standards, and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as inventories through alternative procedures.
The management of the Jackson County Board of Education is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation
95ICL-3

ofgeneral purpose financial statements in accordance with generally accepted accounting principles. Because ofinherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to risk that procedures may become inadequate because ofchanges in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate.
In planning and performing our audit ofthe general purpose financial statements of the Jackson County Board ofEducation for the year ended June 30, 1995, we obtained an understanding ofthe internal control structure. With respect to the internal control structure, we obtained an understanding ofthe design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide an opinion on the internal control structure. Accordingly, we do not express such an opinion.
We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the entity's ability to record, process, summarize, and report financial data consistent with the assertions of management in the general purpose financial statements.
As described in the Schedule ofFindings and Improper or Questioned Costs, a reportable condition was noted in the following control category:
General Fixed Assets
A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the general purpose financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe that the reportable condition disclosed above is also considered to be a material weakness.
This condition was considered in determining the nature, timing, and extent of the procedures to be performed in our audit of the Jackson County Board ofEducation's financial statements and this report does not affect our report thereon dated July 30, 1996.
95ICL-3

This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
~~
Claude L. Vickers State Auditor
CLV:gp 95ICL-3

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

DEPARTMENT OF AUDITS AND ACCOUNTS
254 Washington Street, S.W., Suite 214 Atlanta, Georgia 30334-8400
July 30, 1996

Honorable Zell Miller, Governor Members ofthe General Assembly Members ofthe State Board ofEducation
and Superintendent and Members ofthe Jackson County Board ofEducation
SINGLE AUDIT REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS
Ladies and Gentlemen:
We have audited the general purpose financial statements ofthe Jackson County Board ofEducation as of and for the year ended June 30, 1995, and have issued our report thereon dated July 30, 1996. This report was qualified for a scope limitation and for various departures from gener~ly accepted accounting principles, as identified in the auditor's report on the general purpose financial statements. We have also audited the Jackson County Board ofEducation's compliance with requirements applicable to major Federal financial assistance programs and have issued our opinion thereon dated July 30, 1996.
Except as discussed in the following paragraph, we conducted our audit in accordance with generally accepted auditing standards; Government Auditing Standards, issued by the Comptroller General of the United States; and the provisions ofOffice ofManagement and Budget (0MB) Circular A-128, "Audits of State and Local Governments". Those standards and 0MB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the Jackson County Board ofEducation complied with laws and regulations, noncompliance with which would be material to a major Federal financial assistance program.
We did not observe the taking of either the Federal donated commodities inventory or purchased foods , inventory at June 30, 1995, nor could we satisfy ourselves as to the accuracy of the amounts stated as
inventories through alternative procedures.
In planning and performing our audit for the year ended June 30, 1995, we considered the Board's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the Board's general purpose financial statements and on its compliance with requirements applicable to major
95ICL-6

Federal financial assistance programs and to report on the internal control structure in accordance with 0MB Circular A-128. This report addresses our consideration ofinternal control structure policies and procedures relevant to compliance with requirements applicable to Federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated July 30, 1996.

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

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

GENERAL REQUIREMENTS

SPECIFIC REQUIREMENTS

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

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

(5) Allowable Costs/Cost Principles

(4) Reporting

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

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

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

95ICL-6

During the year ended June 30, 1995, the Jackson County Board of Education expended 58% of its total Federal financial assistance under major Federal financial assistance programs.
We performed tests of controls, as required by 0MB Circular A-128, to evaluate the effectiveness of the design and operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with general requirements and specific requirements as described above that are applicable to each of the Board's major Federal financial assistance programs, which are identified in the Schedule ofFederal Financial Assistance. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly, we do not express such an opinion.
We noted a certain matter involving the internal control structure and its operation that we consider to be a reportable condition under standards established by the American Institute of Certified Public Accountants. Reportable conditions involve matters coming to our attention relating to significant deficiencies in the design or operation ofthe internal control structure that, in our judgment, could adversely affect the Board's ability to administer Federal financial assistance programs in accordance with applicable laws and regulations.
As described in the Schedule ofFindings and Improper or Questioned Costs, reportable conditions were noted in the following control categories:
Eligibility
A material weakness is a reportable condition in which the design or operation of one or more ofthe internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a Federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions.
Our consideration of the internal control structure policies and procedures used in administering Federal financial assistance would not necessarily disclose all matters in the internal control structure that might be reportable conditions and, accordingly, would not necessarily disclose all reportable conditions that are also considered to be material weaknesses as defined above. However, we believe the reportable conditions described above are not material weaknesses.
This report is intended for the information of management, the Federal cognizant audit agency and other Federal grantor agencies and should not be used for any other purpose. This restriction is not intended to limit the distribution of this report which is a matter of public record.
Respectfully submitted,
tt~/~
Claude L. Vickers State Auditor
CLV:gp 9SICL-6

SECTION IV FINDINGS AND IMPROPER OR QUESTIONED COSTS

JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND Thfl>ROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Improper Expenditures Financial Statements Amount: $10,567.63 Audit Control Number 6781-93-01
Prior year audit reports have directed attention to improper expenditures totaling $23,903.58 made from the General Fund during the year ended June 30, 1982, for Athletic Supplies and Equipment for extracurricular athletic programs at Jackson County High School. At June 30, 1994, partial reimbursements received by the Board had reduced the outstanding balance to $13,925.74. In the year under review, a partial reimbursement of$3,358.l l was made to the Board's General Fund and at June 30, 1995, a balance ofSl0,567.63 remained due from Jackson County High School. This outstanding balance is included in Accounts Receivable ofthe General Fund as reflected on Schedule "4" and Exhibit "A" ofthis report.
AUDIT FOLLOW-UP/RESOLUTION Theft ofFunds Financial Statements Amount: $5,060.00 Audit Control Number 6781-93-02
In the year ended June 30, 1984, the Jackson County Board of Education initiated legal action against Ms. Wynella Dennis, Secretary at North Jackson Elementary School. Ms. Dennis was charged with "Theft by Taking" and "Interference with Government Property". On September 20, 1984, Ms. Dennis plead guilty to all charges in the indictment. The Court imposed a sentence often (10) years and will allow Ms. Dennis to serve it on probation, on condition that she pays full restitution of $11,610.00. At the end of her probation period Ms. Dennis had not paid full restitution, and the Jackson County Board ofEducation again initiated legal action. In June 1995, the Court imposed a garnishment of her wages, and that garnishment is now being paid to the Jackson County Board ofEducation through the Superior Court of Jackson County. In the year under review, $90.00 was received as partial reimbursement to the Board, and at June 30, 1995, a balance of $5,060.00 remained due from Ms. Dennis.
AUDIT FOLLOW-UP/RESOLUTION Questioned Cost . Financial Statements Amount: $74,649.94 Audit Control Number 6781-93-04
The audit report for the year ended June 30, 1994, reported that a total of$74,649.94 had been expended on a construction project for facilities built on property owned by the Georgia School Board Association. The Jackson County Board ofEducation entered into a lease-purchase agreement with the Georgia School Board Association for property and the facilities constructed on the property pursuant to Official Code of Georgia
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JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Questioned Cost Financial Statements Audit Control Number 6781-93-04 Finding Deleted
Annotated Section 20-2-506. An Attorney General's opinion dated October 31, 1957, states that school funds may not be spent for the construction of a building on property not owned by a local board of education. In the year under review, no additional expenditures for this property were incurred.
The Board has stated no additional funds will be expended for capital construction on this property until the Board regains title to the property.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $7,400.86 Audit Control Number 6781-94-01
The audit report for the year ended June 30, 1994, reported that the Board had an underexpenditure of Quality Basic Education (QBE) funds of $7,400.86 for the StaffDevelopment - Professional Development Stipends Program. For the year under review, no adjustment was made to the Board's local fair share by the Georgia Department ofEducation to refund this underexpenditure as required. The underexpenditure of$7,400.86 should be returned to the Georgia Department ofEducation through an increase in the Board's local fair share for the QBE programs in a subsequent fiscal period.
AUDIT FOLLOW-UP/RESOLUTION Completion Report Not Supported By Accounting Records Federal Financial Assistance Finding Resolved Audit Control Number 6781-94-02
The audit report for the year ended June 30, 1994, reported that the Board's project completion report applicable to the Education for Economic Security Act, Title II (CFDA 84.164) - 1993 Regular Program was not supported by expenditures recorded for this program in the accounting records. In the year under review, the Board submitted a corrected completion report and refunded $23.94 to the Georgia Department of Education. A comparison of completion reports to accounting records for the period under review revealed no discrepancies.
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JACKSON COUNTY BOARD OF EDUCATION

SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS

.

YEAR ENDED JUNE 30, 1995

PRIOR YEAR
AUDIT FOLLOW-UP/RESOLUTION Failure to File Corrective Action Plan in a Timely Manner Federal Financial Assistance Finding Resolved Audit Control Number 6781-94-03
The audit report for the year ended June 30, 1994, disclosed that the Board failed to submit, on a timely basis, a Corrective Action Plan to the Grants Management Section of the Georgia Department ofEducation stating procedures to be implemented in order to resolve findings and improper or questioned costs disclosed in the audit report for the year ended June 30, 1993. In the year under review, a Corrective Action Plan for fiscal year ended June 30, 1994, was submitted in a timely manner as required.
AUDIT FOLLOW-UP/RESOLUTION Inadequate Separation ofDuties Financial Statements Federal Financial Assistance Finding Resolved Audit Control Number 6781-93-03
The audit report for the year ended June 30, 1994, stated that the Board did not provide for adequate separation ofemployee duties in the performance ofaccounting functions and related procedures for all funds. For the year under review, the Board implemented changes regarding separation of employee's duties such that appropriate internal controls were in effect.
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6781-93-05
The audit report for the year ended June 30, 1994, noted that the management of the Jackson County Board ofEducation had chosen not to maintain a system-wide General Fixed Assets Account Group within the formal accounting records as required by generally accepted accounting principles. In the year under review, the Board did not establish a General Fixed Assets Account Group within the formal accounting records. This condition results in the general purpose financial statements of the Board being incomplete and not in accordance with generally accepted accounting principles. Appropriate action should be taken by the Board to establish accounting controls and procedures to provide for maintenance of a General Fixed Assets Account Group. These subsidiary records should include an inventory ofland, buildings and equipment owned by the

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JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995
PRIOR YEAR/CURRENT YEAR
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6781-93-05
Board and should include, but may not be limited to, date acquired, acquisition cost, estimated replacement cost, location and description. Detailed records should be maintained of all additions and deletions to the General Fixed Assets Account Group.
CURRENT YEAR
GENERAL LEDGER Failure to Transfer Local Matching Funds Financial Statements Nonmaterial Noncompliance Audit Control Number 6781-95-01
The Jackson County Board of Education received approval for Lottery State Capital Outlay Funds through Georgia Department of Education for fiscal year 1995. The instructions in Chapter 41 of the Financial Management for Georgia Local Units of Administration requires that the Board transfer required local matching funds to the Capital Projects Fund by June 30, 1995, and designate those funds by project name and number. This transfer was not made by the Board at June 30, 1995. A correcting audit adjustment was necessary to transfer $46,576.00 from the 1994 Bond Issue Fund to the Lottery Project 96/95S-678-047 as required.
ELIGIBILITY Free and Reduced Price Meal Applications Federal Financial Assistance Major Program/Nonmajor Program Reportable Condition Nonmaterial Noncompliance Amount: $159.70 Audit Control Number 6781-95-02
A review of applications for free and reduced price meals was made at Jackson County Middle School lunchroom for the National School Lunch (CFDA 10.555) and School Breakfast Programs (CFDA 10.553). Applications which did not meet applicable compliance and eligibility requirements were questioned. The amount of over reimbursement which was attributable to these questioned applications is shown below:
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JACKSON COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND IMPROPER OR QUESTIONED COSTS
YEAR ENDED JUNE 30, 1995

CURRENT YEAR

ELIGIBILITY Free and Reduced Price Meal Applications Federal Financial Assistance Major Prograrn/Nonmajor Program Reportable Condition Nonmaterial Noncompliance Amount: $159.70 Audit Control Number 6781-95-02

National School Lunch
Program

School Breakfast Program

Applications approved for free meals but income amounts indicated on the application only qualified for reduced price meals

$70.60

$89.10

These deficiencies occurred because management failed to detect errors in the applications when reviewed.

The Georgia Department ofEducation should review this matter to determine if a refund is appropriate.

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SECTIONV PERTINENT VIEWS OF RESPONSIBLE OFFICIALS

JACKSON COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1995
AUDIT FOLLOW-UP/RESOLUTION Improper Expenditures Financial Statements Amount: $10,567.63 Audit Control Number 6781-93-01
Jackson County High School continues reimbursement to the Jackson County Board ofEducation's General Fund and will do so until this improper expenditure is totally repaid.
AUDIT FOLLOW-UP/RESOLUTION Theft ofFunds Financial Statements Amount: $5,060.00 Audit Control Number 6781-93-02
The Jackson County Board of Education continues to work with the Superior Court of Jackson County through garnishment proceedings to recover the theft offunds as reported.
AUDIT FOLLOW-UP/RESOLUTION Questioned Cost Financial Statements Amount: $74,649.94 Audit Control Number 6781-93-04
Attorneys for the Jackson County Board ofEducation and for the Georgia School Boards Association believe significant legislation has passed that makes this ruling invalid. The Attorney General has refused request by both Jackson County School Board Attorneys and Attorneys for the Georgia School Board Association to make a ruling in this case. There are no plans to spend additional monies on these properties until the lease purchase agreement has been fully paid and the Jackson County Board of Education regains title to this property.
AUDIT FOLLOW-UP/RESOLUTION Failure to Meet Expenditure Requirements Financial Statements Amount: $7,400.86 . Audit Control Number 6781-94-01
The Jackson County Board of Education's local fair share has been increased for FY97 for this underexpenditure.
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JACKSON COUNTY BOARD OF EDUCATION PERTINENT VIEWS OF RESPONSIBLE OFFICIALS
YEAR ENDED JUNE 30, 1995
AUDIT FOLLOW-UP/RESOLUTION Completion Report Not Supported By Accounting Records Federal Financial Assistance Finding Resolved Audit Control Number 6781-94-02
This report needs no further comment.
AUDIT FOLLOW-UP/RESOLUTION Failure to File Corrective Action Plan in a Timely Manner Federal Financial Assistance Finding Resolved Audit Control Number 6781-94-03
This report needs no further comment.
GENERAL FIXED ASSETS Failure to Maintain General Fixed Assets Account Group Financial Statements Reportable Condition - Material Weakness Audit Control Number 6781-93-05
The Jackson County Board ofEducation continues to choose not to maintain a system-wide general fixed assets account group.
GENERAL LEDGER Failure to Transfer Local Matching Funds Financial Statements Nonmaterial Noncompliance Audit Control Number 6781-95-01
The finding requires no further comment.
ELIGIBILITY Free and Reduced Price Meal Applications Federal Financial Assistance Major Program/Nonmajor Program Reportable Condition Nonmaterial Noncompliance Amount: $159.70 Audit Control Number 6781-95-02
The finding requires no further comments.
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